Western Union and Consumer Portfolio Services along with VeriSign’s Messaging and Mobile Media Division announced a pilot project enabling CPS customers to trigger their monthly car payment directly from their mobile phone. The pilot program will run for approximately three months, at which time it will be evaluated for further rollout. CPS customers sign up for the Western Union “Bill Alert Text Message” service online and enter their CPS account number, mobile phone number and debit account information. Once the consumer has confirmed enrollment, monthly alerts are sent through VeriSign, detailing the payment amount due. The consumer submits his payment approval by texting “YESCPS” directly through the mobile device initiating a Western Union “Speedpay” transaction. Consumers can end their participation in the program at any time by texting “STOP.”Details
A new report, issued jointly by Aite Group, LLC and Plenitudes
Prospective & Management evaluates consumer
trust in banks and outlines the significance of trust from a survey of
1,222 consumers in the
United States, United Kingdom and France. It is no surprise that
consumer trust in banks is low given the current
economic condition and the global financial crisis in 2008. What makes
this a cause for concern at banks is the degree to which a bank’s
ability to grow deposits is affected by consumer trust. Consumers that
have a high degree of trust in their bank are twice as likely to open
new accounts with their bank as consumers who only trust their bank
somewhat. In fact, consumers who said they trust their bank “somewhat”
were barely more likely to expand their relationships than consumers who
didn’t trust their banks at all.Recent bank advertising designed to
garner consumers’ trust are unlikely
to pay off, however. Of the many attributes that influence consumers’
level of trust in their banks, rational attributes (like operational
performance, and quality of advice in sales interactions) were
considered more important than emotional attributes (like having a good
reputation and living up to the values portrayed in ads).
INSIDE Contactless and U.S.-based CPI Card Group have received both an “Elan” award and a finalist position at the 2009 ICMA Annual EXPO for their innovative payment sticker products. The payment sticker, based on INSIDE’s “MicroPass” contactless chip technology, can be affixed to any portable device such as a cell phone, and is available with a companion PVC card. The “Elan” award and finalist placement were in the following categories: “People’s Choice”, Winner (Tie): First Data GO-Tag sticker, manufactured for First Data and “Best Other Secure Card Design,” Finalist: First Data “GO-Tag” sticker, manufactured for First Data. CPI’s project management and manufacturing expertise combined with INSIDE’s technology leadership and support enabled the companies to go from prototype engineering samples to developing and introducing a real payment sticker product in a very short time.Details
GiftCards.com has sold its one millionth gift card.
The prepaid Visa debit
card allows consumers to spend the card wherever Visa is accepted.
Customers can even use the cards to pay bills. In addition to the flexible use of the prepaid debit card, customers can
also personalize the gift cards. The popularity of
personalized gift cards is growing. Gift cards were once thought of as a last minute
gift. Adding photos and personal messages to the gift cards gives each gift a
personal touch. GiftCards.com is a leading provider of gift cards to consumers and
corporations to expend as gifts, rewards, or incentives.
Multi-media provider EnXnet has received an order for 5,000 MultiMedia Gift Cards from Interactive Card Services.
This is a
preliminary order that will be used as samples for several potential
larger orders. A large marketing effort has been
put forth that has led to the request of several
samples to be delivered to several potential customers. Additionally,
some new manufacturing processes are being put into place to be able to
handle large scale orders going forward.
Fidelity National Information Services reports that first quarter
revenues declined 3.9% to $797.8 million. However, non-GAAP adjusted net
earnings increased 19.2% during the quarter compared to 1Q/08. Financial
Solutions revenue declined 3.2% to $271.3 million. FIS notes increased
demand for risk management and commercial outsourcing services was
offset by lower software license and professional services revenue.
Payment Solutions revenue declined 2.3% to $364.7 million, due primarily
to a $9.7 million decline in the company’s retail check guarantee
business. International revenue declined 8.3% to $162.3 million.
International revenue increased 11.5% in constant currency, driven by
16.3% growth in payments and 4.5% growth in financial solutions. On
April 1st FIS announced plans to acquire Metavante Technologies. FIS
reaffirmed its full year outlook for adjusted net earnings of $1.60 to
$1.66 per share. For complete details on FIS’ latest results visit
A new report finds that the triple shocks of housing, banking and stock market crashes during 2008 has seriously dented the European perceived sense of ‘continually growing wealth.’ There has been a seismic shift in the way consumers of today are making their spending and saving decisions. The study by TNS for MasterCard Europe found the most significant shift in consumer behaviour since World War II. Up to 78% of European consumers polled saying they actively plan to spend less on daily expenses. Eighty-nine percent of Italian and 85% of French consumers surveyed were the most likely to reduce daily expenses versus an average in Europe of 78%. Consumers indicated their desire to use their debit cards to actively monitor their expenditures and more closely manage their spending through their monthly statements.
Value for money/loyalty. The desire to make their money stretch as far as possible and support active bargain hunting (84% from 72% six months ago) is highlighted by consumers in the emergence of loyalty programs attached to debit cards as the second most important incentive to use their cards (40%). The survey found that money management is at the forefront, with 69% of consumers wanting to only spend what they can afford.
ME-based fuel card specialist Wright Express reports that total revenue for the first quarter decreased 26% to $69.2 million. The Company says the results exceeded its guidance for both revenue and adjusted net income. Although there was year-over-year erosion in fleet transaction volume, the collections experience improved significantly in the quarter. Net income on a GAAP basis was $11.0 million, compared with $14.5 million for 1Q/08. Total MasterCard purchase volume grew 23% to $649 million. Total fuel transactions processed declined 2% from the first quarter of 2008 to 63.3 million. Payment processing transactions decreased 7% to 49.3 million, and transaction processing transactions increased 21% to 14.0 million. Average expenditure per payment processing transaction decreased 38% from the first quarter of 2008 to $40.78. For more details on Wright Express’ performance visit CardData ([www.carddata.com](http://www.carddata.com)).Details
IP transaction processing system provider
Sino Payments has signed a contract with retail merchant e-Service PowerE2E to provide credit and debit
card processing services. The agreement is for card processing
services for PowerE2E’s clients as well as directly for PowerE2E
transactions. The SinoPay GPP system is being deployed on site at PowerE2E’s
Headquarter location in Shanghai. The first project is for an ecommerce client site and
PowerE2E and Sino Payments are working on additional joint business
development opportunities to provide service to PowerE2E’s existing
CA-based Silicon Valley Bank has partnered with the New England Bankcard Association to issue
premier business credit card products under the MasterCard brand.
Silicon Valley Bank successfully transitioned clients to its new
business credit card platform, completing the conversion of over 7,000
card holders to the new SVB business credit cards. As an issuer, Silicon
Valley Bank can offer new card products, an expanded rewards program,
and more online reporting tools to assist SVB clients with their cash
management needs. In particular, SVB clients will immediately benefit
from the MasterCard’s SmartData reporting tool that enables integration
with numerous third party expense applications.
Dunkin’ Donuts and The USPS are the newest merchants to participate in the “MasterCard Easy Savings Program.”
Eligible MasterCard business credit and signature debit, U.S. cardholders enrolled in the
program will now receive an automatic 5% rebate on Click ‘N Ship purchases
made with the United States Postal Service at usps.com, and an automatic 5%
rebate on purchases at Dunkin’ Donuts. The “MasterCard Easy Savings Program” may have benefits for
merchants, helping them generate additional revenue and, more importantly, attract new
customers. MasterCard data shows small business cardholders enrolled in the
Program increased their spend by more than 60% at
“MasterCard Easy Savings Program” merchants from 2007 to 2008, and nearly
70% of MasterCard Easy Savings cardholders were new customers for MasterCard
Easy Savings program merchants.
Euronet Worldwide reported that first quarter revenues declined 4.5% to $233.7 million, impacted by four unusual factors. However, total transactions hit 347.8 million, compared to 339.5 million in the first quarter 2008. The Company faced significant declines in foreign currency exchange rates against the U.S. dollar, adjustments in 2009 to the fourth quarter 2008 estimated goodwill and intangible asset impairment charges, the first quarter 2009 receipt of termination fees for two previously announced contracts and charges incurred in the first quarter 2008 associated with abandoned efforts to acquire MoneyGram. The EFT Processing Segment reported revenues of $46.2 million, compared to $48.2 million for the first quarter 2008 and transactions of 159.5 million, compared to 168.4 million for 1Q/08. The Prepaid Processing Segment reported revenues of $134.5 million, compared to $144.3 million for 1Q/08 and transactions of 184.3 million, compared to 167.3 million for the first quarter 2008. The Money Transfer Segment reported revenues of $53.0 million, compared to $52.3 million for 1Q/08 and transfer transactions of 4.0 million, compared to 3.8 million for the first quarter 2008. For complete details on Euronet’s latest results visit CardData ([www.carddata.com](http://www.carddata.com)).Details