Acacia to Assert a Card Rewards Patent

Acacia Research’s subsidiary, Acacia Patent
Acquisition, has acquired the rights to patents for consumer rewards
program technology. The technology generally relates to consumer rewards
programs such as loyalty programs offered by airlines, hotels and credit
card companies and may be used to provide a single source for consumers
to
access and utilize applicable benefits under different loyalty programs.
Acacia Research?s subsidiaries control over 100 patent
portfolios, covering technologies used in a wide variety of industries.

Details

ZAP

With Sub-Saharan Africa having received nearly US$10.8 billion in
remittances in 2007, Zain Middle East/African mobile operator and
Western Union have partnered to deliver mobile money transfer services
across the region through the “Zap” platform. Offering Zain users a
range of mobile phone transactional services in eventually 22 markets,
“Zap” allows users to interact with bank accounts, top-up or transfer
airtime, remit funds, pay bills and checkout in the grocery store. Given
a total of US$400 billion in remittances were sent in 2008, “Zap” fund
recipients can cash out through at more than 12,000 agent locations in
East Africa, Zain is the 4th largest mobile network in the world with
commercial presence in 24 countries to serve 64.7 million active
customers and Western Union global agent network consists of more than
334,000 locations in 200 countries.

Details

Bling Nation Goes Live in Colorado

CO-based The State Bank has launched alternative payment “Bling
Nation Community Payments Service”. The contactless payments network
enables banks and merchants to avoid global network costs and keep money
within the community through a secure local debit network. The bank
markets the local payments network as an alternative to expensive,
traditional payments networks and accompanying rewards program as “Redi
Pay Bling”. Bling Nation?s core technology is an integrated issuing and
acquiring
platform designed specifically for local and regional banks. Through its
Community Payments Service, Bling Nation enables financial institutions
to more profitably support payments between their local demand deposit
account (DDA) customers and their merchant customers by bypassing the
current global debit payment model with an efficient, cost-effective and
local payment network.

Details

LML FISCAL & 1Q/09

LML Payment Systems technology for financial payment solutions has
posted 1Q/09 and fiscal year revenue ended March 31, 2009 of $3.1 million
and $12.3 million, respectively. Additional reports show LML posted a
quarterly gross profit of $1.6 million, income from operations of
$112,000 (compared to a year-ago period loss of $504,000), income before
taxes of $137,000 (compared to a year ago period loss of $1.4 million),
net income of $5.15 million (compared to a year ago period loss of $1.6
million), net cash flow from operating activities of $281,000 and
Non-GAAP net income of $328,000. Meanwhile, the annual revenue of $12.3
million for the year ended March 31, 2009 was a 9.3% gain over the year
ago figure of $11.3 million, gross profit was $6.3 million, income from
operations was $599,000 (compared to a year ago period loss of
$451,000), income before taxes was $1,034,000 (compared to a year ago
period loss of $1,606,000), net Income was $5,455,000 (compared to a
year ago period loss of $2,221,000) and Non-GAAP net income for the
fiscal year was $1.9 million. These gains throughout the fiscal year are
thanks in part to LML’s 1,500 new customers and 100 new channel sales
partners.

Details

Rearden Expands its Biz Personal Assistant

For the first time, business travelers can reserve and purchase Amtrak
tickets through Reardon Commerce’s Web-based travel platform. It is the
first travel application to allow employees real-time faring and the
ability to immediately purchase a train ticket, all after corporate
discounts and policies are applied. Rearden Commerce has fully
integrated the rail service into its “Personal Assistant.” The Company
also announced that travelers will be able to
leverage the company’s unique “Book Again” technology to rebook
previously traveled routes and personalize their dining experience with
the Rearden “Personal Assistant.” The dining service within the
“Personal Assistant” combines an end-user experience for finding and
making dining reservations, with the ability to apply corporate cost
controls and receive company rebates of up to 10% from a network of
thousands of participating restaurants. Reardon notes that business
travelers have been stuck using legacy travel applications that are
cumbersome, hard to use and unfortunately lack usability features. The
Company also announced that David Cassady has joined the company as
President and GM of B2B Operations.

Details

VISANET & TELEFONICA

Introduced as the first commercial mobile payment program of its kind in
Latin America, Visa, VisaNet Perú and Telefonica has launched the “Pago
Movil con Visa” (Visa Mobile Pay) mobile payment program. With this
development, Peruvian Visa cardholders are allowed to initiate payments
over a wireless network using their Banco de Crédito, Interbank, BBVA
Continental or Scotiabank -issued payment card. Initially only allowed
to pay for cab fares and flower arrangements, additional merchant
segments are scheduled for addition in the near future. This
introduction comes just weeks after Visa’s partnership with Maxis
Malaysian wireless carrier to introduce a mobile payments service for
NFC POS transactions to the over 11 million subscribers. Visa retail
electronic payments network provides processing services and payment
product platforms for credit, debit, prepaid and commercial payments in
more than 170 countries.

Details

VantageScore Slates a Scoring Webinar

CT-based VantageScore will offer the “Credit Scoring in Volatile Times”
webinar June 29. During the webinar, there will be a critical review of
real estate loans with an emphasis on the states most affected by credit
deterioration, best-practice analyses on credit
scores to assess levels of continued performance for new accounts and
existing account management during significantly eroding conditions.
Credit card and auto loan portfolios will also be highlighted.
VantageScore?s highly predictive model uses an innovative,
patent-pending scoring methodology to provide lenders with a consistent
interpretation of consumer credit files across the three major credit
reporting companies and the ability to score more people.
VantageScore Solutions is an independently managed company that holds
the intellectual property rights to VantageScore generic scoring
model created by Equifax, Experian and TransUnion.

Details

Visa Fires-Up Global M-Payment Partnerships

Visa announced two major partnerships to expand mobile payment services globally. The NeuStar alliance will combine Visa’s global payment network with NeuStar’s carrier grade infrastructure. NeuStar and Visa will commit resources to support development of commercially viable programs to support new application use cases. The initiative is also designed to enable a more robust set of mobile payment services by allowing Visa, financial institutions and mobile operators to collaborate more closely and provide information-rich transactions that can make mobile payment services more personalized, functional, and secure. Meanwhile, in Peru, VisaNet Peru and Telefonica will launch the “Pago Móvil con Visa” service (Visa Mobile Pay) to enable cardholders in Peru to pay for products and services over a wireless network. The service is available to Visa accountholders with credit or debit cards issued by Banco de Crédito, Interbank, BBVA Continental and Scotiabank in Peru. The launch of “Pago Móvil con Visa” follows on the heels of the launch of the world’s first commercial Visa mobile payments service for POS transactions using NFC technology. The program was announced jointly with Maxis, the largest wireless carrier in Malaysia, Nokia and Maybank.

Details

FSV Payment Appoints New Board Member

TX-based prepaid card provider FSV Payment Systems has appointed Richard “Rick” Savard, previously with Netspend, to the Board of Directors.
From 2004 until 2008, Savard served as CEO of Netspend, during which
time he led the company through a period of rapid expansion and growth.
Prior to joining Netspend in 2004, Savard was SVP of Marketing for
Federated Department Stores where he led Federated’s marketing
activities for all private label credit cards, the company’s Visa
portfolio, gift cards, and loyalty program development. Earlier in his
career, Savard was responsible for the development and launch of the
Membership Rewards Program for American Express Canada where he served
as Vice President.

Details

GLOBALPLATFORM & RFI

RFI Global Services (RFI) testing and consultancy services for cellular,
wireless and smart card technologies has joined the GlobalPlatform
international smart card specification body to keep up with the latest
advancements in mobile payment technology. Having already supported
various worldwide implementations based on GlobalPlatform
Specifications, RFI is joining as an Observer Member to monitor
technical committees, debate issues, participate in Mobile Task Force
initiatives and discuss trends through the Body’s Advisory Council
meetings. In its 10th anniversary, GlobalPlatform provides smart card
infrastructure development with cross-industry representation from all
world continents while RFI Global Services testing services and hardware
engineering offers its expertise around the world.

Details

MyECheck Partners to Expand Software Offering

Alternative payment provider MyECheck has signed Wealthworld and Alternative Info Solutions to its software suite.
Alternative Info Solutions is a provider of home study marketing courses and
Wealthworld is a financial training company that teaches its customers how to get out of debt, repair their credit and start to build real wealth through products, services and seminars. MyECheck utilizes a proprietary, patented method of creating and clearing remotely created checks. eChecks processed on the MyECheck system are typically accepted in 1 to 3 seconds and clear the same day or overnight compared to typical Automatic Clearing House System (ACH) time frames of 3 to 5 days. MyECheck provides the most viable alternative to credit cards enabling conversion of declined transactions or
customers without credit cards.

Details

Shift4 & SoftBrands Integrate Property Management

Enterprise payment solution provider Shift4 and application software supplier SoftBrands has integrated an end-to-end Property Management
System (PMS) with Shift4’s “DOLLARS ON THE NET” payment gateway, a PCI-compliant solution that is currently in development for SoftBrands’ PMS to achieve Real Security, an environment where no cardholder data is stored, transmitted or processed at the merchant level. Once a property is running SoftBrands applications with “DOLLARS ON THE NET” and “Card Information Replacement Technology”, their PMS is completely out of the scope of PCI because the SoftBrands system is no longer handling real card holder data. Shift4 is a developer of secure financial transaction processing software and services, provides web-based, real-time enterprise payment solutions for leaders in the hospitality, retail, foodservices, auto rental and eCommerce markets. DOLLARS ON THE NET provides both high-speed and low cost authorizations and settlements for credit, debit, check, private label and gift card transactions.

Details