Mobibucks and ISTS Worldwide have partnered to meet the
growing demand for cashless payments and rewards by leveraging
Mobibucks’ “Cashless Payment Platform 2.0”. Mobibucks offers stored value accounts that
enable a range of cashless transactions and sales promotions through
seamless integration with existing Point of Sale (POS) technology via
simple text messaging protocols. Mobibucks reduces check-out time in
addition to enabling Person-to-Person payments and gift exchange and offers
merchants a paperless, cardless tool to offer coupons, loyalty rewards, gift cards and
online ordering. Consumers with a mobile phone or a browser can
intuitively use and manage their no-fee Mobibucks account.
ISTS Worldwide provides end to end technology services in the form of
custom application development, integration, testing and support
services which enables organizations to maximize performance and reduce operating costs through its best of
breed technology services stack delivered through a global delivery model.
Mobibucks and ISTS Worldwide have partnered to meet the
Visa has selected TBWA Worldwide as its global lead strategic and creative
agency to take effect January 1, 2009. As one of the world’s most
recognized consumer brands, Visa takes great care to manage the Visa
brand promise through innovative marketing and advertising programs
across the globe. The agency consolidation is expected to
deliver creative synergies and other operating and cost efficiencies to
Visa Inc. TBWA is one of the top ten US-based agency networks made up of 258 full service agencies around the
world with expertise in all of the disciplines required for the positioning, launching and long-term
management of brands.TBWA is one of the top ten US-based agency networks made up of 258 full service
agencies around the world with expertise in all of the disciplines required for
the positioning, launching and long-term management of brands.
Surcharge-free Allpoint Network, has signed on ME-based Gorham Savings
Bank and will offer access to 2,400 Allpoint ATMs across New England.
Gorham Savings Bank serves 23,000 business and individual customers,
most of which are in northern New England. Their successful 140 year
history has many examples of product and service innovations that
respond to unique customer requests. Gorham Savings
Bank has nine locations and $750 million in assets.
Financial services and payment consultants Edgar, Dunn & Company marks 30 years
of serving the payments, banking and financial services
industries. EDC operates from offices in Atlanta, Frankfurt, London,
San Francisco, and Sydney with a new office opening in Singapore and a
presence in Paris and serves leading banks, payment processors, merchants, card payment
schemes, e-commerce technology vendors and regulatory bodies in the
areas of strategy, marketing, product development, financial analysis and
profitability, operations, and risk management. Over the years, EDC has played a central role in many of the industryâs
leading product development initiatives in prepaid, mobile payments, online
alternative payments, card authentication and e-commerce applications, and
in opening new markets such as the unbanked and underserved in developed
Recently, cross-border and global enterprise clients
have been seeking EDCâs advice on international expansion as well as major
regulatory changes on the horizon. EDCâs deep regulatory expertise helps
clients realize strategic opportunities and minimize risk resulting from
major regulatory initiatives such as the Single European Payments Area
(SEPA) and the Payment Services Directive.
Capital One Bank has introduced a free checking account awards program that enables to earn miles automatically for checking account transactions including debit card purchases, online bill payments, and other withdrawals. The new “Capital One Rewards Checking” awards customers with 1,000 miles for opening an account and 4,000 miles when they set up direct deposit.The “No Hassle Rewards” program allows customers to accumulate miles that can be used toward six different redemption options including airline tickets, cash, brand-name merchandise, store gift certificates, experiential rewards, and charitable donations. Customers can redeem rewards starting at 10,000 miles either online or by speaking to a customer service representative.Details
Clothing retailer Forever 21 has disclosed that the company was notified
by the DOJ that the company
experienced data breaches dating back to 2004. The statement reveals
that on August 5, 2008, the U.S. Department of Justice in Boston filed
indictments against 3 individuals alleged to have committed crimes
involving credit card fraud against 12 retailers. That morning, Forever
21 was contacted by the U.S. Secret Service and was advised that the
company was identified in the indictment as one of the retail victims.
They subsequently received from the Secret Service a disk of potentially
compromised file data. The promptly retained forensic consultants to help
examine the file data and systems. Based on that investigation,
it is believed that the unauthorized persons accessed older credit and debit
card transaction data for approximately 98,930 credit and debit card
numbers. Approximately 20,500 of these numbers were obtained from the
Fresno store transaction data. The data included credit and debit card
numbers and in some instances expiration dates and other card data, but
did not include customer name and address. More than half of the
affected payment card numbers are no longer active or have expired
National credit card debt per credit card borrower increased 2.63% sequentially to $1,717 in the second quarter and 8.6%, compared to 2Q/07. The highest state average card debt per credit card borrower was in Alaska at $2,494, followed by Tennessee at $2,109 and Alabama at $2,015. According to TransUnion, the steepest increases in average credit card debt over the previous quarter occurred in the District of Columbia (6.62%), Alaska (4.84%) and Tennessee (4.75%). Nationally, the ratio of credit card borrowers delinquent on one or more of their credit cards declined to 1.04% in the second quarter, down 12.6% over the previous quarter. However, on a year-over-year basis the national delinquency incidence rate has risen 14.3%. Incidence of delinquency was highest in Nevada (1.72%), followed closely by Florida (1.34%) and Mississippi (1.30%). TransUnion says the lower delinquency statistics
indicate that many consumers did in fact use their economic stimulus
checks, in part, to pay down past-due credit card debt.
Experian has unveiled a multi-channel authentication system that
will enable organisations to verify the identities of residents from 24
countries around the world. The new “Universal ID Check” is a single, hosted solution requiring only one installation into an organization in order to facilitate the identity checking of residents with which it has face-to-face, online, call centre or postal interactions across the countries covered. Countries covered by Universal ID Check are: Andorra, Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Hungary, Ireland, Italy, Luxembourg, Monaco, Netherlands, Norway, Portugal, Slovakia, Spain, Sweden, Switzerland, United Kingdom and USA.
INSIDE Contactless has appointed Richard Vacher DetourniÃÂ¨re as CFO.
Vacher DetourniÃÂ¨re joins INSIDE from Siparex, a leading independent
French private equity and venture capital firm. Since joining Siparex in
1994, he has played a key role in more than 25 financing deals,
including leveraged buy-outs, growth capital investments, and
investments in early-stage technology companies. Most recently, he
served as a partner in the area of information and communication
technologies. From 2003 to 2005, based in California’s Silicon Valley,
he helped manage SBV Venture Partners, an early-stage fund co-managed by
Siparex. Before joining Siparex, he served as a consultant with Price
Waterhouse in audit and corporate finance capacities, both in France and
in Central Europe. Vacher DetourniÃÂ¨re graduated from the Amiens School of Management
and holds a master’s degree in management control, accounting and
financial management (DESCF).
Taking a call from U.S. retailers, the Retail Council of Canada announced it is jumping on the political bandwagon to challenge the payment card industry over merchant credit card fees. Last week, the Canadian Federation of Independent Business warned that credit card companies and big banks plan to launch a huge cash grab on merchants throughout Canada. Also, last week the RCC and a coalition of “like-minded” associations launched “www.StopStickingItToUs.com,” a national campaign against “Big Credit Card” companies and the banks that issue their cards that have been imposing hidden credit card fees on all Canadians. The RCC says that over the next few weeks, politicians will be calling our homes and knocking on Canadians’ doors asking for support. RCC is asking Canadians to stand and ask these politicians what their plan is to address the issue.Details