FL-based hotel company Vantage Hospitality Group has selected Chase Paymentech to process card transactions for Vantageâs Americas Best Value Inn and Lexington Collection locations. Americas Best Value Inn, the tenth largest limited-service hotel chain representing nearly 900 inns, hotels and suites throughout North America, and the Lexington Collection, an upper-mid to upscale brand introduced in 2007, offer guests hometown comfort, quality and service at an exceptional value. As part of that value, Vantage Hospitality has agreed to have Chase Paymentech promote its payment services to its Americas Best Value Inn and Lexington Collection member properties. In 2008, Chase Paymentech processed more than 21.4 billion transactions with a value exceeding $713.9 billion.Details
Non-payment risk in European e-commerce has fallen to the lowest level
in seven years, with the chargeback ratio down to just 0.26%. This
decline is thanks to the ratio for Germany having fallen from 0.19% to
0.12% while the non-payment risk nearly doubles for credit card
transactions effected by German men in comparison to those effected by
women. This, according to “Trends in E-Commerce Purchasing and Payment
Behaviour”, was discovered through a sample of roughly 30 million
real-life purchase transactions processed on the Deutsche Card Services
platform in the sectors retail, services or travel & entertainment. It
also shows the use of 3-D Secure technology helps to reduce chargeback
ratio; the ratio of fraud attempts are much smaller compared to German
bricks-and-mortar trade; and the chargeback ratio in UK shops has halved.
Retalix will integrate Microsoft’s “POSReady 2009” embedded operating system to connect point POS solutions with peripherals, servers and services, with its retail and supply chain software offerings. The Retalix products that will use Windows Embedded POSReady 2009 include the “Retalix StoreLine”, an open architecture point-of-service solution deployed at leading grocers worldwide. The application contains advanced POS functionality and supports customer loyalty, self checkout, fuel management, QSR and a wide variety of electronic payment services and Retalix StorePoint, a POS solution specifically designed for the convenience store and truck stop industries. The open-architecture system incorporates payments, food service and back-office functions, and supports forecourt, customer loyalty and full integration to third-party devices and applications.Details
Growth in debit card volume continued to pick up momentum in September, soaring to an annual rate of about 24%, as “Gross Rupee Volume” (GRV) hit 18.7 billion rupees. Meanwhile, credit card GRV is declining at an annual rate of 13%, dipping in September to 49.0 billion rupees. After peaking at 64.4 billion rupees in October 2008, credit card GRV growth has been declining each month, in tandem with the global recession. Debit card GRV previously peaked in October at 19.6 billion rupees, but has rebounded to a record 23.3 billion rupees in August. According to the Reserve Bank of India, the number of credit card transactions declined to 19.1 billion as the number of debit card transactions dropped to 12.1 billion in September. At the end of September there were 21.3 million credit cards and 156.2 million debit cards in circulation.Details
nuBridges has added Kee Murray as Executive VP of Operations and Brad Childress as Executive VP of Sales. As EVP of Operations, Murray brings with him over 25 years’ IT experience and will oversee operation of all nuBridges managed services, including nuBridges Exchange Network global communications gateway; customer service across all product lines; and internal IT. He most recently served as VP of Enterprise Systems Engineering at InterContinental Hotels Group. Meanwhile, as EVP of Sales, Childress will oversee enterprise software sales, managed service sales, professional services and pre-sales engineering teams and joins nuBridges from The Complex Sale global sales effectiveness consulting and training firm, where he served as President and CEO.Details
Merchants processing chip card transactions are experiencing fewer
chargebacks than ever before thanks to increased security and fraud
detection. Merchants who processed more than 40% of total transactions
using chip technology experience on average up to four times fewer
chargebacks than those who processed less than 40% of total transactions
using chip technology. Retailers reported 2.9 times fewer chargebacks
while restaurants reported 1.8 times fewer chargebacks, supporting chip
card acceptance using pay-at-table technology. The data, made available
through Moneris Solutions payment processor, was compiled with data from
21,000 merchants with 40 to 95% of transactions processed through chip
technology and revealed one-third of overall transaction volume is
currently processed using chip cards.
Arts and crafts retailer Michaels and partner Blackhawk Network has launched the “Gift Card Mall” in over 900 U.S. stores. Michaels will now carry Blackhawkâs signature Gift Card Mall, featuring more than 100 of the best branded gift cards across a number of different categories including fashion, tickets, electronics, home and sports. Currently reaching more than 165 million consumers a week, Gift Card Mall is available through an exclusive retail network of leading grocery, mass, convenience, drug and specialty stores. Michaels is the only arts and crafts specialty retailer to offer the convenience and selection of “Gift Card Mall” to its customers. Brands include: iTunes, Cracker Barrel Old Country StoreÂ®, Macyâs, Gap, The Home DepotÂ®, AMC EntertainmentÂ®, Sears, Foot LockerÂ®, VisaÂ® and Barnes & Noble Booksellers. Blackhawk Network is a subsidiary of Safeway.Details
LML Payment Systems, payments technology provider of financial payment
processing solutions for e-commerce and traditional businesses, has
reported its 2Q/09 and 1H/09 revenue of $3,252,000 and $6,487,000,
respectively. For the 2Q/09, LML saw an increase of 5% over the
$3,087,000 in revenue seen in the year ago period while cash used in
operating activities was ($13,000) compared to cash used in operating
activities of ($578,000) last year. During the quarter, the LML
Transaction Payment Processing segment revenue increased CAD18.5%.
Revenue for the 1H/09 was up 4% Y/Y from $6,264,000 while the LML
Transaction Payment Processing segment revenue increased CAD23.2%. LML
Payment Systems provides financial payment processing solutions for
e-commerce and traditional businesses with credit card processing,
online debit, electronic funds transfer, automated clearinghouse payment
processing and authentication services. For complete details on LML’s latest results visit CardData (www.carddata.com).
Merchantsâ Choice Payment Solutions has acquired the portfolio of agent bank relationships from GA-based Silverton Bank. The acquisition brings Silvertonâs agent banks and merchant customers into an existing network that delivers premium payment processing behind the scenes while banks retain their business banking relationships. The move adds several hundred banking institutions and several thousand merchants to the MCPS agent bank program. MCPS offers a wide array of credit, debit, check, and other payment services across multiple industries. Paur added that the acquisition of the Silverton portfolio represents the first of a number of initiatives to expand the MCPS agent bank and merchant bank program. MCPS serves over 41,000 merchant partners, processing more than $3.4 billion in annual credit card volume.Details
TransUnion has released its newly enhanced “Express Portfolio Review” solution, offering users a choice of 17 scores and more than 200 credit attributes. Capacity for the application has been increased to 300,000 records per job while continuing to return results within 48 hours, providing businesses more information to improve risk management. “Express Portfolio Review” is easily accessed via the Web-based TransUnion Direct platform, through which customers may choose from 17 scores, including three TransUnion “Risk Scores”, “VantageScore”, six “FICO” scores, five TransUnion “Collection Recovery Models” and TransUnion “Income Estimator” and “Debt-to-Income Estimator.”Details
TNB Card Services has signed a processing agreement with ND-based Town and Country Credit Union’s $4.5 million card portfolio.
The $210 million credit union is the third largest in North Dakota. The agreement includes TNB’s innovative “VIP CardStation” and
“VIP Portfolio Pro”, part of its “VIP Solutions” portfolio management tools. With these capabilities, Town & Country CU will be able to internally manage daily monetary adjustments, including fees, balance transfers, and routine cardholder account updates. Management will also have access to reports related to settlement, collections, and delinquencies; this will enable them to better evaluate card performance, identify revenue opportunities, and spot portfolio trends. TNB will also take over the management of Town & Country CU’s back office cardholder operations, allowing the credit union to offer 24/7 cardholder support. TNB will also work with Town & Country to develop strategic promotions, as well as offer “Rewards2U” for its Platinum cardholders, to drive increased usage and acquire new cardholders.
Payment software provider S1 Corporation has consolidated Postilion, S1 Enterprise and FSB Solutions under a single brand called S1. S1 has consolidated the websites supporting the three brands into a single website (www.s1.com) and has adopted a single logo and established a supporting corporate identity for its single brand.
S1 Corporation supports 3,000 organizations worldwide with payments, online banking, mobile banking, voice banking, branch banking and lending solutions.