NCO Financial Launches a Consumer Site

Account receivable management service NCO Financial Systems
that it has launched “www.consumerhelpunit.org”, its new consumer help website.
Through the new website, U.S. consumers can communicate with NCO, 24
hours a day, days a week, 365 days a year. Consumers can communicate via email or opt
to have a representative call them with just the click of a button. NCO’s outsourcing portfolio includes accounts receivable
management, customer relationship management services and back-office
services for a diversified customer base.

Details

VISA CANADA POST

Just in time for the Vancouver 2010 Olympic and Paralympic Winter Games,
Visa Canada is set to offer its three new Olympic and Paralympic Winter
Games-themed Visa prepaid cards available in 1,500 Canada Post retail
locations across the country. Issued through Citizens Bank of Canada for
use anywhere Visa cards are accepted, the “Visa Canada Post” prepaid
card is a convenient payment option for 2010 Winter Games attendees in
three pre-set denominations to chose from: $25, $50 and $100. To
highlight the new Olympic and Paralympic Winter Games-themed Visa
prepaid cards, Visa is holding a contest to win a collector set of ten
Vancouver 2010 Olympic and Paralympic Winter Games Visa Prepaid Cards.

Details

Zoot Names a New Sales and Marketing Chief

Instant credit decisioning and loan origination solutions provider
Zoot has appointed Paul Thielemann to SVP, sales and marketing.
Thielemann brings more than 20 years of financial industry know-how from
both an IT and business perspective to this role. He has experience in
the mortgage lending, consumer lending, credit card processing, and
insurance fields. In his new position, Thielemann will lead all aspects
of client service activities and the company’s sales efforts. His focus
will be on building and maintaining strong relationships with clients
and prospects by introducing new ideas, supporting their values and
visions, as well as responding to their needs and strategies.
Zoot Enterprises provides credit decisioning
and loan origination solutions through a configurable, scalable and
reliable platform to large and innovative U.S. financial services
institutions.

Details

GPN Unloads its DolEx and Europhil Business

Atlanta-based Global Payments is selling its DolEx- and
Europhil-branded money transfer businesses to an affiliate of Palladium
Equity Partners for about $100 million. GPN acquired Latin America Money Services and DolEx Dollar Express for $190 million in November 2003. In January 2005 GPN also acquired a group of European electronic money transfer firms based in Madrid that operate collectively under the name Europhil. Under the terms of today’s deal, GPN will receive proceeds in the range of $85 million to $110 million based on the operating performance of the business determined at the time of closing, which is subject to customary regulatory approvals including the consent to the transaction by the issuers of money transfer licenses in many of the states and countries where DolEx or Europhil currently operates. GPN says the deal will allow it to focus exclusively on its ongoing strategy of expanding its merchant acquiring presence around the world and as such the Company intends to reinvest the sale proceeds in future merchant acquiring growth opportunities. Palladium has a focus on companies that are well-positioned to capitalize on the fast-growing U.S. Hispanic market. (CF Library 11/13/03; 01/04/05)

Details

Global Axcess Inks a Major ATM Deal

FL-based self service ATM & kiosk provider Global Axcess has signed a
new four-year contract
with a convenience store chain for ATM processing. The contract,
valued at almost $100,000 per year, will cover
processing for 25 ATMs initially at their locations and a total of 50
ATMs when
complete. The Global Axcess provides turnkey ATM and other
self-service kiosk management solutions that include cash and inventory
management, project and account management services and currently
owns, manages or operates more than 4,500 ATMs and other self-service
kiosks in its
national network spanning 43 states.

Details

PALLADIUM & GLOBAL PAYMENTS

Global Payments electronic transaction processing solutions has signed
an agreement to sell its DolEx- and Europhil-branded money transfer
businesses to an affiliate of Palladium Equity Partners, for which its
will receive proceeds in the range of $85 million to $110 million based
on the operating performance at the time of closing. The Company plans
to report the results of the Money Transfer business as Discontinued
Operations, which is expected to post full year fiscal 2010 revenue
growth up 7% to 10% to $1,615,000,000 and full year fiscal 2010 diluted
earnings from continuing operations per share growth increase up to
$2.42 million. Global Payments provides its services to consumers,
merchants, Independent Sales Organizations (ISOs), financial
institutions, government agencies and multi-national corporations while
Palladium Equity Partners targets investments in business services
companies and financial services.

Details

CUSO PSCU Offers Online White Papers

FL-based CUSO PSCU Financial Services has started posting free educational white papers on www.pscufs.com designed
to help credit unions attract new members and build loyalty. The credit union industry is working hard to attract Gen Y as
part of its long-term growth strategy, a generation that requires
24/7 Web access to financial accounts and information.
The industry is also identifying and marketing specialized services to small
business owners. A recent study by BAI notes that small businesses are
increasingly dissatisfied with banks and more than half would switch financial
institutions to gain online banking and other products that are designed to meet their
needs. Credit unions are targeting this important market segment because owners
tend to seek multiple services for their personal and business finances, and
they often develop long-term relationships with the primary financial institution
that helped them grow their business. Mobile banking presents an area of skyrocketing demand that serves both
these audiences.

Details

FUJITSU & TRINTECH

Trintech Group integrated financial governance, risk management and
compliance software solutions has embedded the Fujitsu “Interstage
XWand” XBRL processing engine into its “Unity Xtensible Financial
Reporting” (XFR) software module. With this, Trintech hopes to extend
clients’ abilities to create, manage and validate XBRL-compliant
financial statements, which the Fujitsu “Interstage XWand” software
helps companies create, validate, report, collect, and analyze. XBRL is
a standard format for disclosing financial information within financial
processes for which “Interstage XWand” is designed to boost automation
and transparency throughout the entire financial reporting cycle.

Details

AmEx Acquires Revolution Money for $300MM

Revolution Money, launched by former AOL principals two years ago, is being acquired by American Express for $300 million. Revolution Money, was formerly known as “GratisCard,” was funded by Steve Case and led by Ted Leonsis, former U.S. Treasury Secretary Larry Summers, former Charles Schwab CEO David Pottruck, and former MasterCard President and CEO Russell Hogg. It was also backed by Citi, Morgan Stanley and Deutsche Bank. The “RevolutionCard” offered merchants an average interchange rate of 1.9%.
Revolution offers secure payments through an Internet based platform wherein no names or account numbers appear on Revolution cards and transactions are authorized by using a PIN number. The P2P accounts are FDIC insured and offers a prepaid card linked to those accounts that can be used for off-line payments or to withdraw cash from ATMs throughout the USA. Jason Hogg, founder and CEO of Revolution Money, will continue as president and CEO. Ted Leonsis will become a special advisor to AmEx. Revolution Money will operate as a subsidiary of American Express and be the first component of its recently formed Enterprise Growth organization. AmEx says the acquisition will aid in developing re-loadable, prepaid products for new segments of the market as well as introducing new products for cardholders who currently use other alternative payment systems, plus creating payment alternatives
designed for social media sites and allowing open APIs that can help
developers distribute new product innovations. (CF Library 9/25/07)

Details

CELSIUS FOR WAVE ME

INSIDE Contactless and Mobile Distillery announced they have formed a
unique industry partnership to create a new NFC mobile application
development platform. Intending to boost the development of NFC
applications for the “Wave-Me” NFC services platform, INSIDE Contactless
and Mobile Distillery will make it easier for software makers to write
applications once and deploy them across a broad range of NFC-enabled
handsets with “Celsius for Wave-Me.” The new NFC mobile application
development platform combines Mobile Distillery’s “Celsius” mobile
application production framework with INSIDE Contactless’ “Wave-Me”
Service Engine and includes integrated connectivity to INSIDE’s
“MicroRead” NFC chip and software. “Celsius for Wave-Me” is designed to
help mobile network operators who want to begin providing easy access to
services but who are reluctant to wait until the deployment of
NFC-enabled handsets fully ramps up. In doing so, it allows developers
to adapt their source code at compilation time to create applications.

Details

FICO Score Trends Service v2.0 is Introduced

Credit analytics provider FICO has launched “FICO Score Trends Service v2.0” to help lenders assess risk in the banking, auto finance and mortgage industries. “FICO Score Trends Service v2.0” aids lenders in their migration efforts to FICO® 8 score, the most predictive FICO score to date, by adding the new FICO 8 score to prior FICO score data; gives lenders industry-specific insight through the inclusion of the FICO Bankcard Score, FICO Mortgage Score and FICO Auto Score; paints a more detailed picture of regional trends by adding state-level and standard MSA segmentations. allows lenders to review consumer performance by earlier and later stages of risk with the addition of 60+ day default and charge-off data to the existing 90+ day default information and provides the “FICO Odds Shift Impact Report” that captures movement in bad rate or odds at a given score from prior time period to current, granting lenders a unique view into how scores are currently performing at particular score cutoffs. “FICO Score Trend Service v2.0” is available as a subscription software package with the ability to produce over 15,000 credit risk reports from a massive store of consumer credit information.

Details

VIRGIN & GEMALTO

Gemalto digital security has secured a two-year exclusive agreement to
supply Virgin Media Mobile Virtual Network Operator with SIM cards and
its “LinqUs” Device Management solution. To its more than three million
customers, Virgin Media Mobile can now offer secure access to
value-added services while “LinqUs” ensures service access to users
across all handsets. The Gemalto solution facilitates access to the
operator’s web portal and makes new services easily available.
“LinqUs” enables automatic remote configuration of mobile data
applications in handsets so Virgin Media’s mobile customers will receive
the correct configuration settings to suit their mobile phone model
simply by accepting the update upon handset activation.

Details