PAYPAL MEXICO

PayPal users in
Mexico can now shop at the millions of online retailers worldwide where
PayPal is accepted with the launch of PayPal for Mexico
(www.paypal.com.mx), a new PayPal Web site for Mexican Internet users to
confidently buy and sell online using Mexican Pesos. The service enables
Mexican buyers to securely pay for their online purchases using their
credit cards or bank accounts. The Peso is the first Latin American currency to be added to the PayPal
system. PayPal enables payments in 19 currencies including the U.S.
Dollar, Canadian Dollar, Australian Dollar, Euro, British Pound,
Japanese Yen, Chinese Yuan, Czech Koruna, Danish Krone, Hong Kong
Dollar, Hungarian Forint, New Zealand Dollar, Norwegian Krone, Polish
Zloty, Singaporean Dollar, Swedish Krona, Swiss Franc and Israeli New
Shekel. Mexican sellers can receive
payments from PayPal’s large network of 65 million active members around
the globe, as well as withdraw their balances directly to any local bank.

Details

Valutec and TriPlex Add Value to Cards

Tri-Plex Packaging has teamed with loyalty card provider Valutec Card
Solutions to offer the “präsenta cardAbook” gift card accessory designed
and introduced by Tri-Plex. The Season’s Greetings gift cardAbook is
currently in stock and available at Valutec along with acrylic display
merchandising solutions. Valutec Card Solutions is a full service gift
& loyalty card solutions
provider offering pre-packaged and custom gift card programs and
merchandising tools.

Details

ABS METRICS 3Q/08

Charge-offs amongst credit card-backed bonds in the U.K. began retreating in the third quarter dropping to 6.6%, compared to 6.9% in the prior quarter and year ago quarter. However, delinquency (60+ days) increased ten basis points from the prior quarter, reaching 3.8% in September, its highest recorded value for the last 17 months. According to the “Fitch U.K. Credit Card Index,” the monthly payment rate was 17.2% for September, a quarter-on-quarter increase of 20 basis points from June and a 100 basis points year-on-year rise from September 2007. Having increased 160 basis points to 18.6% in July, the metric then dropped 250 basis points in August, before increasing again, from 16.1% to 17.2% in September. The outstanding amount of credit card debt held by U.K. borrowers increased at the end of the third quarter, to its highest level since December 2007, to GBP 55.9 billion. Fitch says it remains cautious as to the negative outlook for U.K. credit card transactions, with the effects of the current worsening economic environment expected to continue to affect U.K. consumers in the longer term. The anticipated impact of the current slowing U.K. economy, together with factors such as increased costs of living, increasing unemployment and the tightening of the availability of credit, continue to provide some concerns regarding U.K. consumers’ ability to meet repayments on their future credit card debt. The agency believes this could in turn negatively impact transactions’ performance.

Details

Public Visa Faces Multiple Challenges

In its latest 10-K filing Visa says it could incur significant severance charges over the next twelve months, as it “continues to evaluate alternatives for achieving synergies in the global organization.” As a result of the reorganization, Visa says it now must operate its business in a way that maximizes long-term stockholder value. However, many of its employees have limited experience operating in a profit-maximizing business environment. In addition, the Visa enterprise historically has been operated under a decentralized regional structure, and each region has had substantial autonomy in its own business strategies and decisions. Visa’s reorganization has resulted in a more centralized corporate governance structure in which the board exerts centralized management control. Visa says it faces significant challenges integrating the operations of the different regions and may be unable to retain and attract key employees. Among the many oter risks to its bottom line are: penalties related to litigation settlements; costly new compliance burdens due to increasing global regulatory focus; intense competitive pressure on customer pricing; consolidation in the banking industry; negative trends in consumer spending and cross-border travel; and adverse currency fluctuations. Visa noted that since 2005, approximately 50 class action and individual complaints have been filed on behalf of merchants over interchange. Interchange fees and related practices also have been or are being reviewed by regulatory authorities and/or central banks in about 20 jurisdictions. Visa also recently received its fourth civil investigative demand from the Department of Justice regarding potential antitrust violations.

Details

TAUBMAN GIFT CARDS

On Friday, Nov. 28, Taubman will give away a $20 (U.S. dollar) gift
card voucher to the first 2,008 vehicles entering the United States from
Canada via the Detroit- Windsor. After paying the tunnel toll, drivers will receive one gift card
voucher per vehicle from tunnel staff. The promotion will run from 5 a.m. until 10 a.m., or while
supplies last. Recipients can redeem the vouchers from 6 a.m. to 1 p.m. that day
only at four Detroit-area Taubman malls, all within an hour’s drive of the
international border. With gift cards in hand, shoppers can then purchase a
variety of merchandise from participating retailers.
This is the second year for this popular and successful
cross-border promotion.

Details

Saylent and Jack Henry Offer BIG Rewards

Saylent Technologies has teamed with Jack Henry & Associates to offer
“BIG Rewards” to increase profitability by attracting and retaining
customers and deposits by offering high-interest checking, cash-back,
and merchandise incentives. “BIG Rewards” utilizes Saylent’s
“Account360” solution as the software
platform. Saylent will also deliver consulting and optimization
services to help Jack Henry & Associates’ clients maximize the potential
of the payment intelligence by effectively capturing, analyzing, and
understanding payment activity and using that business information to
make customer relationships more profitable. The Web-based
solution is being integrated with Jack Henry & Associates’ core
processing systems and will be offered in an ASP environment managed by
Jack Henry.

Details

NCR AWARD WINNER

NCR’s “SelfServ 25” ATM has been named a winner in the computer and business products category of the 2008
“China’s Most Successful Designs” award program jointly sponsored by
FORTUNE China magazine and design consultants China Bridge International.
The NCR “SelfServ 25” was honored for its unique design and innovative
product development, and was praised by the judges for successfully
creating a “wow factor” in meeting and exceeding customers’ needs. NCR’s
next generation of ATMs, the NCR SelfServ family, was launched in China
and worldwide earlier this year. The NCR SelfServ 25 is an exterior
through-the-wall and vestibule ATM with a small footprint and ideally
suited for both in-branch and off-premise use.
The rollout of the NCR SelfServ family is progressing successfully with
over 8,000 units ordered by more than 230 customers around the globe
year-to-date.

Details

Credit Cards Fuel Underground Economy

Credit card information remains the most advertised category of goods
and services on the underground economy, accounting for 31% of the
total. While stolen credit card numbers sell for as little as $0.10 to
$25 per card, the average advertised stolen credit card limit observed
by Symantec was more than $4,000. Symantec has calculated that the
potential worth of all credit cards advertised over the past year was
$5.3 billion. Symantec’s new “Report on the Underground Economy” also
found that the second most common category of goods and services
advertised in the underground economy was financial accounts at 20% of
the total. While stolen bank account information sells for between $10
and $1,000, the average advertised stolen bank account balance is nearly
$40,000. During the 12-month period ending in June, Symantec observed
69,130 distinct active advertisers and 44,321,095 total messages posted
to underground forums. The potential value of the total advertised goods
for the top 10 most active advertisers was $16.3 million for credit
cards and $2 million for bank accounts.

Details

Q3 Credit Union Card Balances Rise 9%

Credit union credit card assets grew 12% over the past year to $31
billion, compared to a 7% growth rate for total credit union assets.
However, the percentage of portfolios that grew more than the rate of
inflation during the previous 12 months decreased from 75% in September
2007 to 56% in September 2008. According to OR-based AssetExchange, the
average balance per account increased 9% from 3Q/07 to 3Q/08 to $2,566.
Additionally, five credit unions with portfolios greater than $1 million
sold their portfolios in the third quarter with about $13 million in
combined balances. In 3Q/07, 14 credit unions sold their portfolios
representing $40.3 million in balances. AssetExchange derived the
results from analyzing about 2,100 credit unions with credit card
portfolios of $1 million and larger.

Details

SunTrust and Cardtronics Install CVS ATMs

SunTrust Banks has partnered with ATM provider Cardtronics to place the
SunTrust brand on Cardtronics ATMs located in selected CVS/pharmacy
stores across in the Southeast United States. SunTrust-branded ATMs
will be available in CVS stores located in the
North Carolina metropolitan areas of Charlotte and Raleigh-Durham and
the Florida metropolitan areas of Jacksonville and Miami/southern
Florida. ATMs branded by SunTrust will
prominently display the SunTrust logo on the ATMs themselves, on the ATM
transaction screens, and on printed receipts. All SunTrust customers
will benefit by receiving surcharge-free access to the branded ATMs.
SunTrust holds total assets of $174.8 billion and total deposits of
$115.9 billion.

Details

Discover PULSE Revamps its Web Site

Discover’s PULSE has launched, “pulsenetwork.com”, a revamped website
and new web address. Users will encounter a fresh new look. The sleek
design includes enhanced graphics, reduced click-throughs and
interactive tools. The PULSE home page features Spotlight and PULSE News
sections for dynamic content, as well as Quick Links, which makes
frequently viewed items readily available with one click. These new
elements streamline access to areas of significant interest. PULSE’s
ATM/debit networks currently
serving more than 4,500 banks, credit unions and savings institutions
across the country and links cardholders with more than 265,000 ATMs, as
well as POS terminals at retail locations nationwide.

Details

BofA Cited as the Best of the Anywhere Web

A new report released by the Yankee Group indicate the challenges
presented to mobile Web sites to deliver an effective experience to
consumers. The report, “The Best of the Anywhere Web,” scores 32
mobile Web sites on a scale of 1 to 100 with a passing grade of 70.
Report highlights include: financial services mobile Web sites ranked
best overall, with only two sites scoring in the “Needs Improvement”
range below 50 with Bank of America’s score of 67 topped the financial
services category with its Zen-like simplicity and comprehensive
security; U.S. Bancorp and First Interstate
Bank—tied for second place in Yankee Group’s assessments with a score of
65. Both sites mirror Bank of America’s simplicity but aren’t quite as
refined in how they help mobile users find their ATMs and branch
locations, and perform basic banking functions;Fidelity was highlighted
for supporting nearly all investor functions, allowing nearly any mobile
device to securely perform nearly every operation possible on a desktop
PC, from trading stocks and bonds to checking up on a 401(k). Shopping
mobile Web sites provide a broad array of services with
variable mobile experiences, with Edmunds received the highest overall
score in this category, earning a grade of 67 for making checking car
prices simple and Amazon.com and Best Buy provide the broadest shopping
experiences, with Amazon.com prioritizing and marketing mobile products
over traditional products.

Details