Argus/TransUnion Unveil Credit Dynamics 360

Argus Information and TransUnion have launched the first solution that
provides senior financial services executives with a comprehensive and
customized view of the U.S. consumer credit landscape.
“Credit Dynamics 360” offers 75 depersonalized key credit
characteristics. Some of the key areas of comparison include:
delinquencies, geography, account originations, credit line management,
outstanding balance trends and market share. As part of the credit
characteristic trend analysis, clients will receive detailed quarterly
reports, executive summaries and bi-annual management presentations.

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SCA and ETA Team for Smart Card Webinars

The Smart Card Alliance and Electronic Transactions
Association is hosting four “Smart Card Payments Application Series”
webinars addressing the use of smart card technology within the
payments industry. The first webinar, “Smart Cards in Mobile
Payment/Near Field Communications,” is slated for September 25th. The
presentations will examine what is the market outlook for mobile
commerce and mobile payments; what is NFC, what are NFC applications and
how is the technology used for proximity mobile payments; who are the
stakeholders in the mobile payments ecosystem and what are likely
proximity mobile payments business models; what merchant infrastructure
is needed for proximity mobile payments; what are key hurdles to
widespread use and acceptance of NFC-enabled mobile payments and what
should acquirers and merchants do next? Speakers scheduled include Randy
Vanderhoof, executive director of the Smart Card Alliance; Deborah
Baxley, partner, IBM Global Services, and Chair of that Smart Card
Alliance Contactless and Mobile Payments Council; and Charles Walton,
EVP payments, INSIDE Contactless and former co-chair of the Smart Card
Alliance Contactless and Mobile Payments Council.

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Consumers Embrace Mobile Banking Services

A new survey has found that consumer interest in mobile banking and
payments services has risen significantly over the past two years.
About three out of four surveyed indicated they would consider using
mobile banking services if offered, compared to 49% in March 2006. The
poll, conducted in April for Fiserv by MQA Research, also found that
security continues were a concern to 72%, yet 82% of consumers say they
would sign up with their financial institution for mobile security text
messages that would alert them of password changes and other access
changes, while 79% would sign up for account balance alerts. Cost was
the second-most cited concern about mobile banking services.
Additionally, the survey revealed that consumers under age 35 are less
bothered than older segments with traditional barriers cited in the
study to new technology adoption such as lack of knowledge about how
services work.

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BANCO-POSTA-ONLINE

Poste Italiane has signed contracts to deploy 730,800 of the XIRING
“Xi-Sign 4000” authentication solution for its “BancoPostaOnline” online
banking service. XIRING, and its Italian partner Sheltering, were chosen
by the Italian bank to provide strong authentication solutions to secure
the company’s e-banking customers using the “BancoPostaOnline” service
and “BancoPostaClick.” XIRING security solution provider develops
security software embedded in smart card readers for strong
authentication and digital signature for over 5 million users.

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YES VISA

YES Bank has partnered with J.P. Morgan prepaid card solutions to offer its customers “Visa US$” prepaid travel cards. The “Visa US$” prepaid travel cards provide customers added security and convenience for travellers for use outside India, Nepal and Bhutan to withdraw cash in local currency at ATMs. J.P. Morgan provides prepaid card services to
more than 1,000 clients globally and services more than 10 million debit
cards with $1.9 billion in financial transactions settled monthly while
India-based YES Bank is steadily building corporate and institutional
banking.

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CMB HE VISA

China Merchants Bank and Visa are launching a credit card
with the Chinese character of “He,” highlighting “harmony”, the theme of
the 2008 Olympic opening ceremony in Beijing. Toward the goal, CMB is
deploying the INNOVATION “IAM VSAM” application performance enhancement
solution through IBM “z/OS VSAM” for its “All-in-One Card” credit card
and online retail banking. IAM is to improve upon CMB’s “CardLinK”
credit card application due to the processing lag of daily cycles on
schedule of the latter. “CardLinK” from Atos Origin provides a modular
system to support principal functions of payment card management.
Operational tests show IAM cut “CardLink” job run times by an average of
52%, reducing elapsed run times from between 20% to 80%. CMB grew its
consumer credit business from 5 million credit cards on issue in 2006 to
over 20 million entering 2008 and today is the largest issuer of credit
cards in China.

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SAYLENT BOARD

Saylent Technologies payment intelligence has appointed Gary
Heatherington to its board of directors. With 32 years’ international
management experience in financial services, payment systems,
e-commerce, retail and manufacturing, Gary was most recently CEO at
Cyota electronic payments technology co, CEO/president of Bank One
Canada, Executive VP with MasterCard International, held executive
positions at National Trust Company and Bank of Montreal, in that order.
MA-based Saylent Technologies provides and develops payment intelligence
systems for banks, credit unions, financial service providers and
payment intelligence solutions designed to attract and retain customer
accounts.

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Super-Prime Credit Card APRs Drop Below 10%

According to the latest CardTrak.com survey, U.S. general purpose
credit card pricing ranges from less than a 2% APR for promotional
pricing to nearly 29% for punitive pricing. The average rate charged to
new “super-prime” credit cardholders with FICO’s between 760 and 850 is
now 9.22%, compared to a “sub-prime” APR of 20.83% for credit
cardholders with FICO’s between 500 and 659. “Prime” U.S. cardholders
with FICOs between 660 and 759 pay an average of 13.68% compared to
14.55% six months ago and 15.82% one-year ago. Last month, credit card
solicitations fell nearly 8% from the first quarter to the second
quarter of this year, according to Chicago-based Mintel Comperemedia.
The mail volume for the second quarter is about 17% off the third
quarter of 2007 high of more than two billion pieces. (CF Library 8/19/08)

LATEST CARD PRICING
Sep 08 Mar 08 Sep 07
Super-Prime: 9.22% 10.16% 11.17%
Prime: 13.68% 14.55% 15.82%
Sub-Prime: 20.83% 21.24% 22.17%
Promotional: 1.89% 2.23% 2.91%
Punitive: 28.77% 29.81% 30.68%
Source: CardTrak (www.cardtrak.com)

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PERATECH QTC

Peratech’s ultrathin “QTC switch technology” is being introduced in
response to its findings financial and identity theft of RFID for
Contactless information is not enough protection from unauthorised
access. Given Contactless RFID uses a short range wireless link from a
reader to activate a chip to provide the stored information, the reader
is too easily available for purchase by anyone, for whom the security
codes that protect the information is typically distributed through
websites. Peratech is introducing its thin, pressure-sensitive embedded
switch Quantum Tunnelling Composite (QTCs), activated only when the
authorized user applies pressure. This physical handing of the device
permits a more conscious decision on the part of the owner.

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