TIMESOFMONEY & BARCLAYS

Barclays has partnered with
e-payment provider TimesofMoney to launch “Barclays Online Money
Transfer”.
Barclays Online Money Transfer will enable the bank’s customers in the
UK to transfer money online directly to any Barclays account anywhere in
India. The services will be extended in the near future to customers in
other countries who wish to send money to India. With the availability
of the latest technology from TimesofMoney for the Barclays Online Money
Transfer remittance service, customers can now transfer their money
conveniently and in a secure environment. Remittances ranging between
£250 and £3,000 can be made through this platform. TimesofMoney is a
leading services provider of online remittances that provides money
transfer services
into India spanning 23 countries, 6000 locations and 16000 banks to
30000 NRIs.

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Negative Credit Profiles Hit 110MM

According to the results of a recent study, more than 110 million in
the U.S. now affected by a negative credit history. The study,
released by BadCreditOffers.com, tracks how the credit crisis especially affects those with bad credit, as lenders
tighten their approval standards in reaction to economic conditions in
the U.S. and abroad. Analysts expect these conditions to worsen, which
could lead to more credit problems for the American consumer. BadCreditOffers.com has served as a leading industry resource
for consumers with bad credit, attracting millions of visits to its
website in that time. Its staff researches the financial marketplace and
compiles information on bad credit credit cards, loans, and other offers
geared toward consumers with a poor credit history.

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Banks Switch to Loyalty & Assurance Mail

While direct mail for credit card offers has slowed to a trickle, banks are stepping up direct mail campaigns for other products to encourage customer loyalty and provide reassurance to customers. Chicago-based Mintel Comperemedia reports that the estimated number of banking direct mail offers sent to current customers rose 42% in the third quarter, compared to the prior quarter. Banks sent approximately 53 million offers to their customers during the quarter, almost twice the number seen in the third quarter of 2007. Mintel also found that banks increased their direct mail offers to non-customers during the third quarter and that estimated banking acquisition mail volume rose 8% sequentially. Last month Mintel reported that the number credit card direct mail offers during the third quarter dropped 28% year-on-year and 13% sequentially. So far this year, credit card solicitations, via snail mail, are averaging about 1.5 billion per quarter, compared to slightly more than 2.0 billion per quarter in 2007. (CF Library 11/7/08)

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CUBIS Financial Names a New CEO

CUBIS Financial, Ltd.’s
board of directors has promoted Phil Huston to chief executive officer
the company announced.

CUBIS Financial develops turnkey solutions for private label, closed
loop credit card and vacation programs. The company provides all
elements of a card program from application processes through
fulfillment and customer support.

With more than 20 years of experience in business management, Huston was
previously vice president of product development for CUBIS and is a
veteran in strategic concept design, platform development and daily
operations for start-up as well as established online and offline
marketing companies.

In 2005, Huston joined CUBIS Financial as its first employee with the
mission of building the company into the stable and profitable
organization it is today.

“This promotion to CEO is indeed an honor. I am delighted that in this
new role I can continue to help CUBIS pioneer innovative custom card
solutions for all industry and user types,” Huston said. “By
establishing new relationships with vendors and partners each day, we
are transforming CUBIS Financial’s vision into a reality.”

Prior to joining CUBIS, Huston held executive posts at some of the
nation’s top telecommunications and marketing companies. His positions
included vice president of marketing and operations for Impulse
Marketing Group, Inc.; manager of telemarketing channel development for
U.S. West/Qwest Wireless, LLC; vice president of telemarketing for
Innovative Marketing Strategies, Inc. and United Services Telephone,
LLC; director of operations for Wyer Creative Communications, Inc.; and
president of Interactive Corporation, Inc.

About CUBIS Financial, Ltd.

CUBIS Financial, Ltd was founded in 2005 and develops closed loop,
credit card platforms that provide turnkey solutions for private labeled
closed loop credit card programs. Headquartered in Las Vegas, CUBIS
Financial provides all elements of a card program including application
processes; card issuing and activation; card account management; all
merchandise orders and fulfillment; merchandise and vacation inventory;
as well as collections and product payment processing. CUBIS provides
all cardholder communication through e-mail, SMS text messaging, live
chat and live agent customer service. CUBIS private labels the cards,
Web site, cardholder interface and store fronts so brand continuity
dominates the entire customer experience. For more information, go to
http://www.cubisfinancial.com.

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Soaring Unemployment Drives Delinquency Up

The U.S. unemployment rate hit its highest level in 15 years in
November rising to 6.7%. The news is worrisome for credit card issuers
as rising unemployment rates portend rising credit card delinquencies.
During November about 533,000 jobs were cut, the biggest one-month
reduction in 34 years. Since the start of this year more than 1.9
million jobs have disappeared. More than 10.3 million Americans were
unemployed in November, the most in 25 years. Since the start of this
year 60+ days credit card delinquency has jumped 60 basis points as
unemployment rates has risen 160 basis points, according to CardData.
During the same period credit card charge-offs have increased 130 basis
points to 5.4%. It is likely fourth quarter credit card delinquency
could approach 4.0% and charge-offs could hit 6.0%.

Unemployment Delinquency*
3Q/06: 4.5% 2.5%
4Q/06: 4.6% 2.6%
1Q/07: 4.5% 2.7%
2Q/07: 4.6% 2.6%
3Q/07: 4.7% 2.7%
4Q/07: 4.9% 3.0%
1Q/08: 5.0% 3.0%
2Q/08: 5.7% 3.3%
3Q/08: 6.5% 3.6%
* 60+ days
Source: CardData (www.carddata.com)

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AmEx Intros Business Logo Gift Cards

American Express has issued the ” Business Logo Gift Cards” that can be
customized with a business logo.
Available in “Classic Logo” and “Thank You Logo” designs, the Cards can be
customized by adding a business logo, in various denominations from $25
to $3,000.
For orders placed by December 31, 2008, businesses can receive 50% off
standard rates, and American Express will waive the $500 set-up fee.
Standard
pricing starts at $4.95 per card.. According to a
2008 American Express Gift Card survey, 75% of small and mid-sized
businesses have given a gift card to
customers or clients, and 90% have given a gift card to employees,

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Budgets Rule Consumer Holiday Wallets

More evidence emerges as to how consumers are trimming their holiday spending. A TrueCredit/Zogby survey found that 73% of consumers will use cash and savings to finance their holiday purchases, while 18% plan to use their credit cards. About 54% say they plan to spend less this holiday season than they did last year. Most respondents say they are controlling their holiday budget by spending less per person this season, 32% will buy items on sale and two in 10 people will set and adhere to an overall spending limit. Another survey finding: 55% say they do not feel they’re more at risk of ID theft during the holiday shopping season.

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eBillme Adds Five More Merchants

Alternative payment provider eBillme welcomes
Improvement Direct, Sweetwater Sound, DiscountDance,
OnlineCarStereo.com and Stacks and Stacks to its growing roster of merchants.
Each new merchant is pairing the consumer appeal of living debt-free
with eBillme promotions including money back savings on purchases.
eBillme is easy to use. When shoppers choose the option at checkout,
their order is confirmed with an eBill sent to their e-mail address. Consumers simply
pay the eBill through their online checking or savings account—the same way they pay
utilities, loans, insurance, and other bills. The transaction occurs
securely, bank to bank, with no personal or financial information required or
transmitted.

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BioPay Partnerships Target Underbanked

BioPay Paycheck Secure has new partnerships in place to offer walk-in bill payment and prepaid debit cards to the
underbanked marketplace. The system’s robust feature set
and ease-of-use has facilitated over 53 million transactions worth $23
billion dollars for merchants and consumers nationwide.
BioPay Paycheck Secure
is the most widely used biometric check cashing system in the nation with over 5 million members.
Thousands of retail locations nationwide are using the Paycheck Secure
system to quickly and easily identify customers and process financial
transactions.

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OCTOBER INDEX

The Conference Board announced today that the leading index for the U.K.
declined 1.7%. The leading index fell sharply again in October, as a result of
very large negative contributions from stock prices, order book volume, and the
volume of expected output. Since April, the leading index has decreased 5.7% (a -11.1% annual rate), falling substantially faster than the 2.6%
rate of decline (a -5.2% annual rate) during the previous six-month
period. In addition, the weaknesses among the leading indicators continue to be very
widespread. The leading index has been falling for more than a year now, and
the pace of its decline has picked up sharply in recent months, while the weaknesses
among its components have remained very widespread.
Two of the seven components that make up the leading
index increased in October. The positive contributors were productivity for the whole economy and
operating surplus of corporations. The negative contributors were stock prices, order book
volume,volume of expected output, and consumer confidence. The yield spread
remained unchanged in October. The accelerating and widespread decline in the
leading index suggests that the economy will remain weak going into 2009, and
that the contraction in economic activity may deepen in the near term. With the 1.7% decrease in October, the leading index now stands
at 118.7

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NFC ACCEPTANCE

A new report issued by ABI Research, “Near Field Communication (NFC)”
indicates that despite improved standardization to the NFC protocol,
there has been a slow rate of adoption by targeted segments of users.
When NFC first emerged as a technology for mobile handsets in 2003, the
ability to address extremely broad end-user markets with a simple end
user interface namely mobile handsets and payments, as well as multiple
other technologies and interactions – was immediately recognized as a
significant potential. But despite many trials involving many companies
from multiple industries, only one NFC handset is commercially available.
This staggered start is reflected in the current hardware market for NFC
chipsets, with a large percentage of NFC ICs not going into mobile
handsets but into other devices.

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