Data Show a Second Quarter Spending Uptick

A new survey finds that total spend across eight key categories
increased an average of 3% per person between Q1 and Q2. Mint.com
analyzed the spending by its million-plus user base and says the uptick
is the first in eighteen months. The study found that “Shopping” and
“Travel” spend are both up 17% while “Entertainment” is up 6%. Spending
on “Food and Dining,” “Travel,”; and “Gifts and Donations” are back
within 10% of 2Q/08 levels. However, “Home”; “Entertainment”;
“Shopping”; and “Bills and Utilities” remain at 10-20% of 2Q/08 levels.
Spending on “Gas and Fuel” is down nearly 40% versus the year ago
quarter. For the first year of the “Index,” Mint.com users consistently
cut spending, reducing quarterly spending by 15% ($2,000) in 1Q/09 from
2Q/08. Mint tracks over $175 billion in transactions and $47 billion in
assets.

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Maverick Powers Bluegreen Visa Card

DE-based payment solution provider Maverick Network Solutions has
integrated a Visa Reward card program for resort management company
Bluegreen Corporation.
Using a customized software system provided by Maverick Network
Solutions, Bluegreen Corporation has successfully integrated a Visa
Reward Card in 16 of its resorts, to use as a premium for prospective
timeshare purchasers. By tailoring its technical platform to integrate
with the system used by
Bluegreen to register people for resort tours, Maverick was able to meet
Bluegreen’s need to consolidate its incentive program, while reducing
costs and increasing efficiencies.

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Encore Capital Group Rises 11% in 2Q/09

San Diego-based debt collector Encore Capital Group posted $78.0
million in revenues and $6.6 million in net income for the second
quarter, a year-on-year gain of 11.4% and 6.5%, respectively. Gross
collections were up 20% to $122.4 million. Investment in receivable
portfolios was $82.0 million, to purchase $1.9 billion in face value of
debt, compared to $52.5 million, to purchase $1.8 billion in face value
of debt in the same period of the prior year. Encore Capital also
announced the addition of two new senior executives. Ronald Naves,
former SVP/Legal Affairs and Litigation at Gemstar-TV Guide
International, will join the Company as SVP and General Counsel. Ashish
Masih is from Capital One where he held many senior roles in the
Collections and Recoveries areas and will now serve as Encore’s SVP of
Corporate Development. For complete details on Encore Capital Group’s
second quarter performance visit CardData (www.carddata.com).

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AB LENTICULAR

ABnote North America plastic card and secure document printer is
introducing lenticular printing on medium to long run plastic card and
poster products. Lenticular printing allows for printed images to appear as three dimensional or animated, is created by interlacing image in
reverse and printed directly on the smooth backside of a multi-angled
lenticular lens. Branded AB Lenticular, this process delivers 30% more
animation and 3D depth than comparable technologies by using a
combination of the most optically clear lens available in the industry,
printing precision and tight process control monitoring. ABnote is
partnering with Tracer high quality lenticular products to introduce the
3-D technology. For optimum image clarity and reducing manufacturing
cost, Tracer’s technology utilizes a single substrate, a thick
lenticular lens and is printed with an array of specially formulated inks.

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1WORLD CARD

One World Ventures prepaid cards has expanded its global relationship to
include “1World” Card Programs in countries throughout Asia Pacific,
including Vietnam. The Company is launching the program in the Country
with a new Global partner. To its more than 86 million citizens, Vietnam
banks have only issued around 10 million payments cards while the
Country’s economy is growing more than 7% a year and per capita income
has more than doubled over the previous decade. One World Ventures
invests in technologies, communities, and systems that facilitate trade,
finance, communication, and travel across international boundaries,
cultures, and languages, focusing on niche markets and providing
cost-effective operations.

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Asset Acceptance Capital Q2 Revenue Slips 13%

MI-based debt collector Asset Acceptance Capital reported total
revenues of $49.1 million in the second quarter, a 13% decline from the
year ago quarter. Net income for the quarter was $0.8 million, compared
to net income of $2.1 million for 2Q/08. During the second quarter, the
Company invested $20.0 million to purchase charged-off consumer debt
portfolios with a face value of $727.9 million, for a blended rate of
2.74% of face value. This compares to the prior-year second quarter,
when the Company invested $64.8 million to purchase consumer debt
portfolios with a face value of $1.9 billion, representing a blended
rate of 3.38% of face value. Cash collections of $87.3 million in the
second quarter were down from cash collections of $95.2 million in the
year-ago period. For complete details on AACC’s second quarter
performance visit CardData (www.carddata.com).

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Visa and U.S. Bank Form the Syncada JV for B2B

A new joint venture has been formed offering a global B2B network for corporations and governments to process and track invoices, make and receive payments, and have payables or receivables financed
through financial institutions. Syncada, created by Visa and U.S. Bank,
builds on Visa’s multi-bank network and U.S. Bank’s automated B2B e-invoicing, payment processing and trade finance network “PowerTrack.”
Currently, Syncada serves U.S. Bank and its legacy client base and processed over $18 billion in invoices in 2008. Now Visa has made a capital investment in Syncada to expand the service worldwide. Syncada will be headquartered in Minneapolis with operations in Chicago, Memphis, Toronto, Mumbai and Brussels. Visa says Syncada will extend the reach and capabilities of its commercial product suite.

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Fiserv 2Q/09 Revenues Remain Flat Sequentially

Fiserv posted total adjusted revenue of $983 million for the second
quarter, a 3% decline over 2Q/08, primarily attributable to declines in
the home equity loan processing business. The Payments business revenue
increased 2% in 2Q/09 to $525 million. The Financial Institutions
segment declined 8% to $514 million. Fiserv also reported that bill
payment transactions rose 8% year-on-year to 336 million. During the
quarter, the Company signed 102 clients for its electronic bill payment
services and 58 clients for its EFT/debit service. PNC signed an
agreement to convert its electronic bill pay system for National City to
Fiserv. Also in the U.S., HI-based American Savings Bank signed an
agreement for the “Signature Bank Platform”; VA-based Fauquier Bank and
MI-based Macatawa Bank signed an agreement to use Fiserv’s
enterprise-wide solutions based on the “Premier Bank Platform.”
The company expects positive second half 2009 adjusted internal revenue
growth, resulting in full-year adjusted internal revenue growth in a
range of -2% to 1%. For complete details on Fiserv’s second quarter
performance visit CardData (www.carddata.com).

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EURO PMI

The Bloomberg Euro-Zone Retail Purchasing Managers’ Index (“PMI”) fell
from 47.5 in June to 47.3 in July, demonstrating a sharper rate of
decline in like-for-like sales for the 14th consecutive month. Based on
mid-July surveys of more than 1,000 executives in the euro area retail
sector, Germany showed only a marginal drop in month-on-month sales with
PMI having risen from 46.0 in June to 49.8 in July for the weakest
decline among the 3 largest Euro-Zone economies. Meanwhile, France
posted an acceleration in the rate of sales decline with the fourth
greatest recorded PMI contraction over the survey’s five-and-half year
history from 49.4 to 46.0. Italy’s index fell from 47.0 to 45.6 and,
unlike France, remained above the average recorded over the first half
of the year. The year-on-year sales index fell from 42.7 in June to 39.8
and is expected to hit a six-month low across the Euro-Zone of 44.7
compared to 49.8 in June. The prices paid index rose from June’s record
low of 50.0 to 50.7 in July; Retail employment was cut for the sixteenth
successive month from 48.1 to 47.4; and retail stocks demonstrate a
record rate of decline of inventories of unsold goods in July (42.1),
reflecting deliberate moves by retailers to cut stock through
discounting and reduced wholesale purchases (43.8).

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Encore Payment Systems Offers an iPhone App

TX based Encore Payment Systems has introduced the “Encore Payment Systems iPhone Mobile Application” that gives small business merchants, independent
contractors and mobile merchants the ability to utilize Encore’s payment processing
solutions without a need for hardware processing equipment or a dedicated internet
line. Using the application, merchants can type the card information into the
phone and the credit and debit card transactions are processed as
“card-not-present” or “offline-debit” payments. Currently, receipts can be emailed to the
cardholder however future enhancement plans include the ability for the merchant to
print a receipt on the spot. The application is currently available through Encore’s sales team and
is set up via a one-time installation process through a web browser. Upon
installation the application icon is available on the home screen of the device for
convenient future use.

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Credit Solutions Reaches the $1B Milestone

Debt settlement provider Credit Solutions has settled $1 billion in
unsecured consumer debt.
Credit card losses, which usually mirror the unemployment trend, rose to
a 26-year high of 9.4% in May.3 Federal Reserve research indicates that
household debt is at a record high relative to disposable income. Some
analysts are concerned that this unprecedented level of indebtedness
among households could lead to increased household delinquencies.4
Credit Solutions has introduced a number of new technologies,
including .”Net Esign” capability, designed to streamline the debt
settlement process, strengthen online security and make customer service
even more convenient. Since 2003, Credit Solutions has helped more than
200,000
clients nationwide manage $2.25 billion in unsecured consumer debt,
settling approximately $30 million a month due to ongoing efforts to
make the settlement process as stress-free as possible for consumers.

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