Citi and BofA Protests Slated for Thurs

The Service Employees International Union reports that more than
10,000 Americans will protest at Bank of America, Citigroup and AIG
tomorrow in 30 states. National sponsors include the SEIU, Change To
Win, Partnership for Working Families, Catholics United, Jobs with
Justice, United Students Against Sweatshops, in addition to scores of
regional sponsors. The March 19th protests will be held in small towns
and big cities, and will range in size depending on location. Chicago is
expected to draw hundreds at Bank of America. SEIU is the
fastest-growing union in the Americas with two million members in
Canada, the United States and Puerto Rico.

Details

TransCard and Preferred PayCard Partner

Prepaid card provider TransCard has teamed with TX-based Preferred
PayCard to offer a value added payroll card. Employees no longer have to
pay exorbitant check-cashing fees and have
access to many value-added cardholder benefits, including online bill
pay, a comprehensive Personal Financial Management tool and free credit
scores. Preferred PayCard serves the payroll disbursement requirements of
multiple business and industry sectors that include convenience stores,
food and beverage, hospital, community development, and retail and
staffing organizations. Member Chapters of the American Payroll
Association recruit Preferred PayCard trainers to provide an overview of
the implementation of the PayCard program, providing an insight into the
documented employer economic efficiencies and ease of implementing a
payroll debit card program. TransCard handles nearly $2 billion in
electronic transactions annually.

Details

Monthly Payment Rates Edge Up Slightly

Monthly payment rates, the amount that cardholders pay on their credit
card debt edged up slightly in February. In November the MPR posted its
largest one-month drop ever, descending 251 basis points. Rising in
December, the MPR collapsed 178 basis points. In January 2008, the MPR
declined 140 basis points from the prior month. Historically, the MPR
declines slightly in January, but this has not been the case since the
start of the current recession. Among managed credit card outstandings,
the MPR rose slightly to 17.13% in February after sinking to 16.78% in
January. According to CardData, the MPR one-year ago stood at 18.13%.

MONTHLY PAYMENT RATES
Sep 08: 18.69%
Oct 08: 18.53%
Nov 08: 16.05%
Dec 08: 18.56%
Jan 09: 16.78%
Feb 09: 17.13%
Source: CardData (www.carddata.com)

Details

MOMENTUM VISA

Scotiabank has launched the “Scotia Momentum Visa card” that provides 2% cash back on gas station, grocery store, drug store and recurring-payment purchases. The “Scotia Momentum Visa” replaces the discontinued Scotia Moneyback Visa product. As a special three-month introductory offer, Scotiabank is offering new and existing customers a full two per cent cash back reward on all items purchased with the card. Other key features of the new “Scotia Momentum Visa” card includes full cash back rewards, as opposed to a tiered system of rewards; 2% cash back can be earned at any merchant classified by Visa as a gas station, a grocery store, a drug store, or as a recurring payment merchant; purchase security and extended warranty protection applies to all purchases made with the card; interest free grace period of up to 21 days when you pay in full for the current and previous month; no inactive fee; and cash back reward payouts every November. Almost 48% of Canadians would use a credit card more if a 2% cash back incentive was available, according to the Harris/Decima poll.

Details

Canada’s Vancity Visa Pioneers ecoEnvelopes

Canada’s Vancity Visa is piloting the use of “ecoEnvelopes”, two-way
envelopes that enable mailers to use one reusable envelope instead of
two traditional envelopes, eliminating the need for business reply
envelopes. To use, Vancity members open the envelope by tearing along a
tab on the back flap. Addressees can then simply turn around the
business reply insert so that the reply address and postal permit appear
in the envelope window. A wider flap enables the envelope to be sealed
once again, eliminating the need to use a second envelope.
This new initiative supports Vancity Visa’s environmental commitment. In
2007 alone, 37 million business reply mail items were used in Canada.
The new “ecoEnvelopes” eliminate these business reply envelopes in
mailings, making a significant contribution to reducing the number of
envelopes that are discarded each year.

Details

Card Activation Settles More Lawsuits

Prepaid card technology provider Card Activation Technologies has
settled its patent infringement lawsuits against Casual Male Retail
Group and Pot Belly Sandwich Works. IL-based Card Activation
Technologies owns
proprietary patented payment transaction technology used for processing
gift cards, phone cards and other debit purchase transactions. The
company is actively seeking to license its technology to the thousands
of current users and believes that many retailers, gas stations, phone
companies and others that utilize those stored value cards, such as gift
and debit, infringe its patent. As a result, the company is aggressively
pursuing litigation against these infringements.

Details

Allpoint Offers iPhone and Android Apps

Surcharge-free Allpoint Network has launched iPhone and Android apps to
locate ATMs in the network. Allpoint utilized LocatorSearch LLC, the
electronic services partner that powers the Allpoint website, to develop
and launch the application. The new applications join
a suite of other services including a 24 hour speech phone system,
mobile web friendly locator, and GPS download functionality for Allpoint
website searches to provide a higher level of cardholder convenience and
member value. The locator is complimentary to Allpoint cardholders and
can be found on the iTunes store as well as www.AllpointNetwork.com.

Details

Hypercom’s Optimum T4200 Invades Eastern Europe

Hungary’s GIRO Bankkártya, a subsidiary of SIA-SSB, has selected
Hypercom’s “Optimum T4200” card payment terminals to expand electronic
payments in Hungary and other Central and Eastern European countries
including Romania, Croatia, Slovenia, Slovakia and the Czech Republic.
Hypercom’s “Optimum T4200” product family consists of six
multi-application devices that share the same platform, user interface
and software toolkit to maximize efficiency, application portability and
offer customers a broad range of options to serve any market. GBC
(SIA-SSB Group) manages a network of 1,550 ATM terminals and 17,000 POS
terminals, and performing authorization services for 2 million
bankcards, GBC processes approximately 96 million transactions annually.

Details

CHRYSALIS FLY CARD

Carrefour’s S2P subsidiary has opted for an Oberthur dual interface contactless payment card. The new “Chrysalis Fly” dual interface payment card is part of S2P’s new “Universal Payment Card” project, the first of its kind in France and one of Europe’s largest contactless projects to-date. The “Chrysalis Fly” product is the latest addition to Oberthur Technologies’ “Chrysalis” EMV smart card product range. As the sole supplier for the project with S2P, Oberthur Technologies leveraged its broad experience engineering contactless cards to provide several key advantages. Oberthur Technologies’ dedicated investment in the production process, from chip, antenna and card shape evolution as well as in the manufacture and personalization of contactless cards providing S2P with a key partner in the development of a contactless device that would meet their specifications.

Details

Delta Embraces Intersections’ Identity Guard

Intersections signed a new relationship with Delta Air Lines to offer
5,000 miles to “SkyMiles” members who sign up for an annual subscription
to Intersections’ “Identity Guard Total Protection” service. Once
enrolled, “SkyMiles” members will receive Identity Guard free for the
first 30 days with 15 percent off an annual subscription.
“Identity Guard” covers public records like licenses, utilities, and
court records not covered by fraud alerts. Intersections, founded in
1996, has protected more than 20 million consumers since 2000, is PC
World’s top rated identity theft protection service (2008), and enjoys
an A+ rating from the Better Business Bureau.

Details