BANK CRED

Throughout their lifetime, 76% of consumers will experience a hardship
to seriously compromise their financial circumstances. K&G Debt & Credit
Professionals debt settlement assists consumers in rating the lenders by
their true character and consumer care, in the event of hardship for
example. When applying for credit, K&G Debt urges consumers to question
if the creditor provides great customer service or do they treat their
consumer like a minority; has the creditor been sued or counter sued;
and to ask for a word of mouth referral from a service provider that
defends consumers. K&G also warns warm and fuzzy marketing is not a true
indication of an institutions credibility.

Details

EBANKING GROWTH

The adoption and use of branchless banking services is forecast to be
higher in 2020 than it is today, with bursts of rapid acceleration
followed by periods of flatter growth. This, according to the CGAP
“Scenarios for Branchless Banking in 2020” six month scenario-building
project, discloses branchless banking is inevitable in most countries
but questions whether large numbers of the unbanked poor will use the
alternative channels for savings or credit. The report engaged nearly
200 leaders from the fields of technology and finance from more than 30
countries, demonstrating financial inclusion is growing in most
countries; bricks-and-mortar growth is inherently limited by its cost;
where branchless banking is occurring, there is industry belief in
future profitability, enabling regulatory change, a fall in connectivity
costs and the creation of cash-handling agents using existing networks;
and the potential of branchless banking is running ahead of reality.

Details

SEPT LEI

The Conference Board Leading Economic Index (LEI) for Spain increased
for the sixth consecutive month by 1.2% while The Conference Board
Coincident Economic Index (CEI) remained unchanged in September. With
the 1.2% increase, the Conference Board LEI for France now stands at
103.5 (2004=100), which increased 0.8% in August and increased 0.4% in
July. Meanwhile, the CEI results for the month was preceded by no change
in either of the previous 2 months and now stands at 103.2. LEI results
for the month were attributed to positive gains in five of the seven
components and include production expectations, the yield spread,
industrial new orders, building permits and the stock price index while
new unemployment claims were the only negative contributor.

Details

TEAM VISA

Visa Canada has appointed freestyle skier Jennifer Heil and snowboarder
Alexa Loo to its Team of Visa athletes. Aspiring to compete at Vancouver
2010 Olympic and Paralympic Winter Games, the athletes are selected for
their sporting achievements, dedication to developing their sports, and
active community involvement. Other members of Team Visa include Colette
Bourgonje (Paralympic Cross-Country Skiing); Emily Brydon (Alpine
Skiing); Jeff Christie (Luge); Jennifer Heil (Freestyle Skiing –
Moguls); Clara Hughes (Speed Skating); Alexa Loo (Snowboard); and Brian
McKeever (Paralympic Cross-Country Skiing). Team Visa Vancouver supports
more than 25 individual athletes, all with the potential to be selected
for their National Olympic and Paralympic Teams.

Details

BEST BUY & FUTURE SHOP

Best Buy Canada and Future Shop consumer electronics retailers and Chase
Card Services Canada have launched the Best Buy and Future Shop Private
Label credit cards. This one year after Chase and Best Buy first
launched the Best Buy “Reward Zone Visa” card. Best Buy and Future Shop
have more than 200 stores across Canada. The Best Buy and Future Shop
Private Label Cards will offer cardholders extended financing terms,
invitations to exclusive shopping events and special financing offers
throughout the year. Best Buy stores in Canada are a division of
Burnaby, BC-based Best Buy Canada, a wholly owned subsidiary of Best
Buy, and is Canada’s fastest-growing retailer and e-tailer
(www.BestBuy.ca) while Future Shop has 142 stores across the country and
employs more than 10,000 associates.

Details

EMV MIGRATION

With 100% anticipating their credit and debit card portfolios fully
migrated to EMV/chip within one to five years, reducing payments fraud
is the top driver for issuers and acquirers to adopt EMV/chip in Brazil
and Mexico, while they are also driven to position themselves as
innovators and technology leaders. This, according to the Smart Card
Alliance Latin America (SCALA), Visa and First Annapolis Consulting, was
based on research conducted with 13 issuers/acquirers in Mexico and
Brazil and is disclosed in the report, “EMV Migration Study and Market
Analysis on Mexico and Brazil.” To gage issuers’ and acquirers’
perspective on the current state of EMV migration and the long-term
growth of the EMV market, the report addressed such questions as; “What
were the key factors influencing the adoption of EMV/chip cards; What
challenges were encountered during the EMV/chip migration process?; How
are organizations leveraging EMV/chip technology to improve performance;
What is the “next wave” in the evolution of the EMV market?; What is the
business impact of EMV/chip adoption for issuers and acquirers?; and
What is the EMV/chip market size in Mexico and Brazil through 2015?

Details

SCA Calls for Improving EMV Cards

The Smart Card Alliance Contactless and Mobile Payments Council have
released a
statement that focuses on improving EMV compliant chip cards
acceptance. These cards will be used for purchases made outside
the U.S., particularly in Europe where most point-of-sale (POS)
terminals and automated teller machines (ATMs) are EMV-compliant.
In a bid to maintain “top of wallet” status with their best customers,
U.S. issuers are expected to offer select customers an EMV compliant
chip card as part of a newly redesigned upscale card product.
Increasingly, U.S. cardholders are inconvenienced when using their
credit and debit cards while traveling and travelers are finding they are unable to use
magnetic stripe cards at unattended chip-based terminals for train
tickets, parking, tolls or gasoline. Since seven of the top ten
countries visited by Americans are converting to EMV chip and PIN
cards, the problem may get worse. Some smaller merchants
are refusing magnetic stripe cards from fear of fraud or confusion on
the part of the store clerk. The European Payments Council, the
governing body responsible for achieving a single payments market
throughout Europe, recently announced it is considering a ban on
magnetic stripe cards within the next couple of years.
U.S. issuers are following in the footsteps of the Royal Bank of Canada,
which took a similar approach in 2003 with the Avion Platinum microchip
card, issued to upscale international travelers. Chip cards will be
more readily accepted internationally and increase convenience for
travelers. The chip’s secure authentication mechanism reassures the
issuer that the card is genuine, so issuing banks can reduce
authorization errors and authorize more international transactions that
were previously considered too risky. The number of
international travelers needing EMV-compliant cards will grow as Canada
and Latin America continue their rollout of EMV.

Details

MONEYSEND

Catering especially to the more than 197 million foreign workers
worldwide who regularly send money home, MasterCard Worldwide has
announced it will be making available the capability to offer MasterCard
cardholders money transfers from any MasterCard or Maestro card to any
other MasterCard or Maestro card. This will expand the usability and
value of MasterCard products and global payments network by providing
its customers with a convenient and cost-effective money transfer
platform enabling person-to-person payments and cross-border
remittances. This will additionally give banks access to the $456
billion global remittance opportunity while fostering deeper
relationships with their cardholders.

Details

VERISHIELD

VeriFone Holdings’ “VeriShield Protect” end-to-end encryption solution
for card payment security is being made available for use with the EMV
smart card standard and will support contactless payments. “VeriShield
Protect” is now being expanded for use worldwide in support of all card
payment types with full EMV and contactless capability beginning in
spring 2010. It eliminates usable cardholder data from a retailer’s POS
applications, networks and servers by encrypting it end to end.
Additionally, Real-time monitoring of payment transactions ensures that
organizations can respond immediately to mitigate any attempted breach.
“VeriShield Hidden Encryption” (VHE) uses sophisticated AES encryption
and enables existing payment applications to deal with encrypted
cardholder data that is unusable by hackers, but does not impact
existing transaction message formats for cost-conscious “VeriShield
Protect” integration.

Details

NEOVIA ONLINE

NEOVIA Financial global online payments business has won five contracts
for its Payment Suite with trade associations and professional bodies.
Allowing the associations to process membership payments quickly and
securely online, the NEOVIA Payment Suite is providing securely process
subscription payments or payment for events from its members as they
visit the organisation’s website and features the NETBANX international
payments gateway, the NETELLER e-wallet and Net+(TM) cards. NETBANX allows
merchants to accept card and non-card payments through multiple channels
including online, contact centres, mail order and automated phone
systems. The NETELLER e-wallet allows consumers to spend securely online
as well as allowing merchants to increase customer lifetime value. Net+
cards allow merchants to extend customer loyalty and lifetimes. As well
as cards, the NEOVIA Payment Suite supports online payments direct from
consumers’ online bank accounts. The new associations include The
Association of MBAs is the international impartial authority on
postgraduate business education; BCS, The Chartered Institute for IT;
the Chartered Institute of Taxation; and the Institute of Acoustics; the
Royal College of Psychiatrists.

Details

Archway Ships 500 Million Cards in 2009

MN-based gift card provider Archway will ship 500 million cards by the end of 2009.Of this total, Archway expects to
ship 145 million cards to retailers, channel partners, consumers and
businesses this holiday season. Archway has nearly 100,000 square feet of secured warehouse space
dedicated to the distribution of secured cards. Visa, MasterCard,
American Express and Discover Card have approved and certified the space
for secured card distribution making Archway the only fulfillment
services company approved by the four major card associations to fulfill
secured cards. Archway is an end-to-end solution provider, offering procurement,
fulfillment services, and inventory management, as well as serial number
tracking, forecasting, automatic replenishment and online reporting for
gift, prepaid and financial card programs. The company’s technology
infrastructure combined with its serial number and lot tracking
expertise, were used to develop a radio frequency (RF) tracking system
and card fulfillment e-tools that streamline inventory management to get
cards in the consumer’s hands faster.

Details

INGENICO VENTURES

Ingenico Payment Solutions’ “Ventures” has invested USD6.5 million in
ROAM Data Mobile Application Service Provider (MASP). ROAM dynamically
delivers business and payment applications to service end-users on their
own mobile phones from smartphones, mainly targeting the large untapped
market of mobile professionals and micro-merchants. It provides the
convenience of merchant transactions on mobile devices via its PCI DSS
payment gateway 24X7. This is the second investment in mobile payment
made by Ingenico “Ventures” this year, after Transfer To, a
Singapore-based Payment Service Provider (PSP) Transfer To operates a
global airtime remittance network interconnecting the mobile operators’
prepaid users. Ingenico has over 15 million terminals deployed in more
than 125 countries and employs 2,500 worldwide.

Details