AmEx Unveils its Small Meetings eXpert

American Express Business Travel has introduced “Small
Meetings eXpert” designed to plan and book meetings with fewer than 50 attendees.
“Small Meetings eXpert” provides real-time connection to browse content,
compare rates and book guest rooms, meeting space, catering and audio
visual equipment. The solution also offers exclusive access to
pre-negotiated rates and packaged deals from the American Express hotel
and meeting supplier network. “Small Meetings eXpert” enables users to place a temporary hold on meeting space.
This allows for the additional time that may be needed to seek internal
approval prior to making a final commitment. Attendee management and
reporting capabilities are also key features of the solution.
Small meetings often represent unseen spend that can equal an incremental two
thirds of a company’s managed meeting spend. Through the control and
transparency provided by “Small Meetings eXpert”, companies are able to
consolidate this previously unseen and unmanaged spend and ultimately
drive significant savings to their bottom line.

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Comdata Teams with Regal Software

Payment technology provider Comdata has partnered with Regal Software
Technologies to enable their customers to expand corporate electronic
accounts payable solutions. With the
electronic payment solution, Comdata electronically generates a unique
MasterCard account number for every vendor payable and provides
settlement data to automate the reconciliation process. The electronic
payment solution is ideal for mid- to large-size
companies and the application modules provided by
Regal allow for seamless integration with “Dynamics” to offer users an
alternative payment method to manual check disbursements.

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Credit Card ABS Metrics Sink Again in Feb

Performance among credit card-backed securities deteriorated across all key metrics, except yield, in February. The charge-off rate increased to its highest level ever and delinquency hit a 20-year high. According to “Moody’s Credit Card Index” charge-offs for February hit 8.82%, compared to 7.74% in the prior month and 5.68% one-year ago. Delinquency rose to 6.14% compared to 5.94% in January and compared to 4.71% for February 2008. Moody’s expects the charge-off rate index to hit double digits by year end. Most analysts are predicting 9% charge-offs by December, but it largely depends on the unemployment rate. Cardholder payments also dropped in February to 15.16%, compared to 16.39% in January. However, yield increased to 17.49% from 16.58% in January. The one-month excess spread declined to 5.62% in February, compared to 5.81% in January.

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NCO Group Posts $287MM Fourth Quarter Loss

NCO Group reported fourth quarter revenues of $362.5 million, a decline of 30% from the year ago quarter. Also, a fourth quarter net loss of $286.6 million and EBITDA of $10.9 million. The net loss
and EBITDA results included a non-cash allowance for impairment of
purchased accounts receivable of $35.7 million and $1.4 million of
restructuring charges primarily related to the acquisitions of SST and
OSI. The net loss also included a non-cash impairment of goodwill and
other intangible assets of $289.5 million. For the year NCO posted revenues of $1.5 billion, a net loss of $337.1 million and EBITDA of $95.5 million. For complete details on NCO’s latest performance visit CardData (www.carddata.com).

NCO GROUP REVENUES
4Q/07: $279.7 million
1Q/08: $318.4 million
2Q/08: $405.0 million
3Q/08: $381.1 million
4Q/08: $362.5 million
Source: CardData (www.carddata.com)

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ABA Reports Record Card Delinquency in Q4

Consumer credit delinquencies in the fourth quarter reached its highest level ever, according to the American Bankers Association’s “Consumer Credit Delinquency Bulletin.” Based on total dollars outstanding, delinquency rose to 5.52% in the fourth quarter. Sequentially, delinquent dollars increased 78 basis points. Home equity lines of credit delinquencies also reached a new record, rising 31 basis points to 1.46%. Every category saw rising delinquencies except mobile home loans. The ABA report defines a delinquency as a late payment that is 30 days or more overdue.

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Mpayy Rolls-Out its Secure Debit Service

Chicago-based alternative payment provider Mpayy has rolled out its
“Secure Debit” payments service to all mobile application developers.
Application developers can process payments for just $0.20 + 2.00% from
within
applications on Android, iPhone or Blackberry. Application marketplaces
can open Mpayy Retail Ecommerce & Checkout Host
(REACH) accounts and provide their personal and merchant accounts to the
buyers and sellers within their marketplace. When sellers receive their
funds, Mpayy can move the net amount, providing marketplace fees in real
time, eliminating receivables periods. Merchants get instant mobile
commerce capabilities, and can get paid to their REACH account directly
from their customers’ mobile devices.

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JCB International Names a New Top Exec

JCB International has named Koremitsu Sannomiya as President and Chief
Operating Officer. Sannomiya succeeds Kenji Seto, who has served in the
position since June 2007. Sannomiya had held a number of key positions,
including Executive Vice President since 2000, providing visionary
leadership in key areas and vital issues: corporate planning,
supervising JCB’s Next Generation System migration project, and
developing emerging markets such as small value and utility payment.
Prior to his appointment as President and Chief Operating Officer at
JCBI, he served as Board Member, Executive Officer, and Head of
Strategic Market Development Headquarters Division at JCB, where he
helped to substantially expand the horizon of the credit card payment
market in Japan by marketing new solutions and services, including
widening the small value market with the QUICPay(TM) contactless smart
card payment solution, and undertaking Eco-Action-Point program platform
operations on behalf of Japan’s Ministry of the Environment.

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Payment Application Vendors Seminar Slated

VeriFone and MasterCard are offering an online seminar “Payment Application Vendors and PA-DSS” for merchants to manage fraud. The seminar expands MasterCard’s “PCI Merchant Education Program” to provide practical assistance in educating merchants and encouraging the adoption of the Payment Card Industry Data Security Standard (PCI DSS). The online seminar describes the Payment Application Data Security Standard
and its effects on the multiple parties involved, including application
vendors, merchants and resellers and what types of applications
are affected and how they affect PCI DSS compliance. The webinar also covers the risks involved with not being compliant, and talks though steps merchants can take to help achieve compliance today. Since its inception, more than 2,670 registered acquiring banks and merchants have viewed MasterCard’s PCI Merchant Education Program online training
modules more than 5,900 times.

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Givex Certifies MMS POS Software

Master Merchant Systems’ “MMS POS” software has been certified by gift
card provider Givex. MMS merchants will benefit from using the MMS
system with the
ability to operate their own gift card programs across multiple
locations as well as issue and redeem gift cards in real-time, a full
range of support services, including 24/7 support, fund
settlement between locations, online program administration and
reporting, card production and marketing.

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Surescripts Hires Former MC Exec

Health data provider Surescripts has tapped Harry Totonis, previously
with MasterCard, as its president and CEO. As head of Advisors Services
at MasterCard, Totonis expanded
MasterCard into decision analytics and information-based product and was
responsible for a global team that spanned business development and
sales, product innovation, technology development and customer delivery.
During his tenure, Totonis developed and executed the strategy for
Advisors Services’ and MasterCard’s information and analytics services
— a board level initiative — while expanding service offerings and
streamlining operations. This resulted in significant overall revenue
growth and substantial increases to revenue and net income per employee
for Advisors Services.

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Fitch Places More Card ABS Under Review

Fitch Ratings announced it has placed an additional two classes of U.S. credit card ABS transactions ‘Under Analysis’. Fitch has also extended its ‘Under Analysis’ status for 204 classes from the previous month, awaiting additional analysis or information. Fitch will be issuing a rating action within 30 days. Of the 613 classes of Fitch rated U.S. Credit Card ABS transactions totaling $296.15 billion, 407 were designated with a “SMARTView” date of April 1st, indicating that no in-depth review is necessary. Last month, 218 classes of Fitch rated U.S. credit card ABS transactions had ‘Under Analysis’ status, 14 of which have matured since.

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Public Savings Bank Offers a Secured Visa

PA-based Public Savings Bank is offering a Visa secured credit card.
Customers can deposit anywhere between $300 and $250,000 into a Public
Savings Bank FDIC-insured deposit account. The card functions like any
other credit card where the customer can make purchases or take cash
advances up to the deposited credit
line amount. Payments are reported to all 3 major credit bureaus thus
establishing the credit history. The secured card features zero percent
interest on purchases for the first six months with no annual fee.

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