Uncertain Economy Produces an Always On Demand

A new survey has found that 53% of Americans said that the need for ‘always on’ information had increased in the past few months as the economic outlook has become less certain. The research by Monitise
Americas also found that overall 77% of Americans want ‘Always On’ banking. Over 90% of those polled who stated that they wanted mobile money services said that they would like to check account balances, view latest transactions and receive fraud alerts. Nine out of ten of consumers said they would use the service at least once a week, while 76% of consumers said that they would use the service more often.
Transactional services are also in demand, with 90% also wanting to transfer money between checking and savings accounts and 80% saying that they would like to be able to pay bills and receive notification when they are due. Additionally, the evidence showed that consumers want the service on their primary bank account, with 82% saying that they would prefer not to set up a new or secondary account in order to be able to manage their money on the move.

Details

CREDIT CARD GROWTH

Market researcher RNCOS has releases a new report, ‘Global Credit Card
Industry – Emerging Markets’, that predicts the Indian credit cards market is expected to grow at CAGR of nearly 25%
between 2008-09 and 2011-12. Spending patterns have changed
drastically in India with more people frequently use plastic money (like
credit and debit cards) for paying their day-to-day expenses. Traveling,
dining and jewelry are the top three purchases that Indians make through
credit cards as well as airline
tickets. Also enjoying growth are utility payment. In the last two years,
the number of customers paying their electricity and water bills through
credit cards has risen though the overall customer base is still small. However, the market has been
hit by the ongoing global financial crisis and double-digit inflation.
With the delinquency rate going high in the country, banks and card
issuers are likely to remain hesitant in issuing new credit cards. The report provides a
comprehensive research and prudent analysis on the emerging card markets
like China, Russia, Mexico and South Korea and gives an overview on the various factors driving the
market, together with the forces that are blocking the growth of the
industry.

Details

GLOBAL VISION

Discovers’ Diners Club International has launched the Japanese language capability for
its premier reporting product Global Vision”, an online information
management reporting tool that helps corporate card clients effectively
measure, analyze and leverage T&E spending on a local and global basis.
Global Vision provides comprehensive reporting capabilities including
the ability for users to create custom reports with access to enhanced
data items. Reporting is available in more than 150 local country
currencies, and reports can be consolidated in one of 10 currencies for
multinational organizations. Global Vision also is available in Spanish
and French Canadian versions, with other languages possible. In
addition, the Global Vision’s tiered services option provides customized
reporting solutions that meet specific market needs, will be offered in
Japanese as well. Established in 1950, Diners Club International became the first
multi-purpose charge card in the world, launching a financial revolution
in how consumers and companies pay for products and services.

Details

PAYSQUARE & TSYS

Outsourced payment solution provider TSYS will provider end to end
payment services to PaySquare, the first credit card company in the
Benelux to offer such a wide variety of
international means of payment and the first to take advantage of the
ever-increasing influx of Asian tourists. PaySquare began outsourcing
payment processing operations to TSYS in
October 2008, supporting MasterCard, Visa and Maestro card transactions
through the Prime processing platform. It manages more than 55,000
merchants and processes transactions on a daily basis. The
services enable the Netherlands-based company to effectively manage and
grow its merchant portfolio.

Details

Maritz Unveils the LoyaltyHQ Platform

A new loyalty marketing platform has been launched that delivers targeted rewards and communications. St. Louis-based Maritz Loyalty Marketing says the new “LoyaltyHQ” platform integrates content management, business process management and business rule logic. Platform components include “RewardManager,” “CampaignManager,” ActivityManager,” and “InsightManager.” “ActivityManager” is an advanced platform for establishing program rules and scoring, allowing next-generation enterprise program management; and “InsightManager” enables clients to effectively monitor customer engagement strategies and program performance.

Details

NBK & LEVEL FOUR

ATM software provider Level Four and Innovation Systems announced that
National Bank of Kuwait, one of the largest banks in
the region, has gone live with “ATM Developer” to deliver greater
automation across its network of over 180 ATMs to
maximise the potential of the ATM by quickly introducing innovative ATM
services to its customers. The bank also benefits from the automation of
its testing
procedures to ensure increased network uptime at the ATM, its most
significant customer
touch-point. Level Four installed “ATM Developer” at the bank’s IT
centre in Kuwait
City. The application includes a highly visual and intuitive user
interface,
making it easy for the bank’s staff to use, positively impacting
productivity levels. National Bank of Kuwait required an
automated testing and development application capable of streamlining
the bank’s process
and reducing he time to market for new products. With “ATM Developer”,
the bank has created a
virtual ATM environment to eliminate the need for expensive ATM hardware
for testing
labs and introduce more thorough and accurate testing processes.

Details

Overstock.com Cards Distributed Nationally

Overstock.com gift cards are now available at over 7,000 grocery stores
and has teamed with Coinstar to provide free coin
counting at over 10,000 Coinstar Center locations when users opt to exchange
their coins for an Overstock.com eCertificate. A list of store
locations offering
Overstock.com gift cards is available at:
http://www.overstock.com/gift-cards/gift-card-information.html.
Overstock.com gift cards are also available online through Overstock.com.

Details

RSA FRAUDACTION

Card issuer JCB has adopted “RSA FraudAction” to help provide real-time protection
against online fraud and phishing attacks. “RSA FraudAction” is designed to find and shut down phishing attacks and other
activity perpetrated by online fraudsters. RSA’s
anti-fraud analysts act rapidly and greatly reduce the lifetime of a phishing
attack from approximately 115 hours to an average of only five hours. The “RSA
FraudAction” team operates the exclusive RSA(R) Anti-Fraud Command Center (AFCC), which is
led by an experienced team of fraud analysts who work 24×7 to shut down phishing
sites, deploy countermeasures, and conduct extensive forensic work to catch
fraudsters and prevent future attacks. The AFCC also relies on the strength of its
worldwide relationships with ISPs, CERTs, and cyber police to further expedite the
shutdown of fraudulent sites. To learn more, visit the RSA FraudAction website.
JCB is the only international credit card brand based in Japan, offering
cards that are accepted by 12.76 million merchant outlets and over a million cash
advance locations in 190 countries and territories. RSA offers industry-leading solutions in identity assurance & access
control, data loss prevention, encryption & key management, compliance &
security information management and fraud protection.

Details

Expense Management Gets Serious in the Downturn

A new survey from American Express finds that companies are focusing on three core strategies to improve expense management: hold employees accountable, drive value through data analysis, and plan for the long-term. The Accenture survey for AmEx’s Commercial Cards also found that companies are instituting a number of best practices to control their costs in an economic downturn. Other suggestions/findings: sending automatic email notifications to employees to encourage compliance to spending policies and to remind individuals when they miss expense submission deadlines; using a database tool to gather global expense information, as well as corporate, agency and ERP data on a monthly basis to help them manage expenses and supplier negotiations; and simplifying and improving operations by standardizing processes, streamlining systems and reducing redundancies.

Details

Small Businesses Cut Spending and Healthcare

Small business owners are adjusting to the uncertain economy by putting
business development spending plans on hold and forgoing employee
healthcare insurance. The latest monthly index of economic confidence
among small business has found that 46% say they plan to reduce spending
on business development and 30% are not making any changes. The
“Discover Small Business Watch” index fell to 71.4 in January, down 1.4
points from December. However, the number of owners who say they have
experienced temporary cash flow issues in the past 90 days decreased in
January to 38% from 42% in December. Only 8% feel the economy is
improving, down from 12% in December. Sixty-nine percent of owners think
the U.S. economy is getting worse and 17% see no change, which is
largely in line with December. Eighty-five percent of small business
owners say they do not offer health insurance to their employees, up
significantly from 77% a year ago and 74% in January 2007. Among small
business owners who do offer health insurance, 36% say they have
considered discontinuing coverage because of high costs. Discover also
found that of those who say they will need extra money to stay afloat,
9% will use credit cards.

Details

i2c Hires Visa’s Diamond as Account Exec

CA-based payment solution provider i2c has hired Stephen Diamond, previously with Visa, as VP, client account management.
Diamond will lead and manage i2c’s client relationships, manage the account advocate group, and contribute to business development initiatives.
During his 12-year tenure at Visa,
Diamond launched the Visa teen and gift card products, expanded gift-card
distribution to more than 120,000 branch and retail locations, worked with
financial institutions to develop product concepts and service
offerings, with one idea resulting in the Visa Buxx card, and managed the personalized Visa
Rewards program.

Details