CyberSource Names a HR Executive

CyberSource has appointed Greg Pappas to the position of
vice president of human resources. Prior to joining CyberSource, Pappas was vice president of human resources with Packeteer, a WAN optimization company that was acquired by Blue Coat Systems. Prior to Packeteer, he was vice president of human resources with Extended Systems, a mobility software company that streamlines business processes through mobile technology. He has also served as vice president of human resources and administration with Inference/E-Gain Corporation and held leadership positions at Chordiant Software and Apple Computer.

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PROXSIM & TSM

Giesecke & Devrient (G&D) NFC-enabled “ProxSIM” and Venyon “Trusted
Service Manager” are collaborating to conduct interoperability
tests of NFC components for seamless configuration in NFC ecosystems.
Tests being conducted are focal on verifying interoperability among the
systems, which depend on the ability of different components of the
ecosystem to communicate, and have proved the components comply with
necessary industry standards, such as ETSI (European Telecommunications
Standards Institute), GlobalPlatform and JavaCard. SIM cards can
accommodate several co-existing applications while NFC applications can
be securely stored on and executed from the SIM card in the mobile
phone. Munich-based G&D Group operates subsidiaries and joint ventures
around the world, employs nearly 9,000 people and generated a 2007
revenue of over EUR1.5 billion.

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Payment Data System Becomes FiCentive

Payment Data System’s e-payment provider FiCentive has launched its
new corporate brand and associated website at “www.ficentive.com”.
FiCentive is a turn-key prepaid card solutions provider that
quickly and securely delivers customized prepaid card programs for
corporations, financial institutions, affinity groups or any
organization that needs to deliver a financial incentive to their
customers, vendors, or employees within the $6.5 trillion global prepaid marketplace.

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ID PROTECT

In response to recent Unisys research showing 83% of Singaporeans are
very concerned about identity theft and 80% are concerned about card
fraud, Citibank Singapore has partnered with Card Protection Plan
Limited and Credit Bureau (Singapore) Private Limited to launch
its “ID Protect” identity protection prevention services to safeguard
users from identity theft. The “ID Protect” Prevention Service offers
credit reports, credit flagging, and credit alerts to ensure customers
are aware of any attempts at theft on their identity as early as
possible. Additionally providing access to a confidential advice line
and useful tips on identity theft prevention, the new service will be
managed by CPP while the Credit Bureau (Singapore) will provide the
credit reports, flagging and alert services. CPP Life Assistance
provider has over 10 million customers with more than 280 business
partners across Europe, North America and Asia, employing more than
1,500 employees who handle 14 million service calls per annum, while
Citi provides over 200 million customers with financial products in more
than 100 countries.

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Impulsive Behaviors and Student Debt

A new study has found that 31% of students do not worry about debt and that 23% choose to ignore overdraft penalties and the prospect of months or years of paying off a debt incurred for a “moment of fun.”
The NARCA poll also found that 25% of college students think it is reasonable to run up a debt to splurge on a special celebration or to use a credit card as a way to “raise cash.” However, the poll discovered that 92% agreed bad debt will have a significant impact on a person’s ability to get credit in the future and 46% say they always keep records of their spending and receipts. NARCA noted that numerous surveys have endeavored to capture data on the growing amount of debt students acquire and maintain. But none have looked at what behaviors are feeding these bad habits.

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ePayments Acquires Federal Check Recovery

ePayments’ Federal Payments division is acquiring MO-based Federal Check Recovery. Federal Check Recovery delivers services throughout the U.S. through trade associations as well as through direct sales to merchants. Under terms of the agreement, ePayments increase staffing and continue to work with the former
company management. Account management will be handled through
ePayments’s Denver offices.

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Commerce Bank to Deploy ADS’ Epsilon

Loyalty marketer Alliance Data Systems announced that its
Epsilon business has signed an agreement with MO-based Commerce Bank to provide marketing solutions.
Under the terms of the agreement, Epsilon will provide a turnkey direct
marketing solution geared toward acquiring new customers for Commerce
Bank’s retail business unit. Specifically, Epsilon will develop and execute
several of Commerce Bank’s retail direct marketing programs, which include
creative development and distribution of direct mail campaigns as well as
analytic services for developing customer models and campaign support. Commerce Bank is part of
a $17.0 billion regional bank holding company.

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Element Payment Picks Hypercom

AZ-based Element Payment Services has chosen Hypercom’s “HBNet” transaction transport service and “SmartPayments Server” for the “Element Express Processing Platform.” Element’s IP payment platform provides its merchants with a “PCI DSS”-certified solution that is easy to manage and can readily scale with their business in a secure manner.
By establishing direct communication between the merchant and the “Express” system, Element can offer new certified payment services to its partners and merchants. These include dynamic changes to terminal applications, customized reports, and quick conversion of new customers through message translation, which eliminates the need for merchants to reprogram their point-of-sale devices.

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Obama and Biden – Credit Card Harmony?

The presumptive Democratic presidential nominee Barack Obama and his
newly announced running mate Sen. Joseph Biden may compliment and
strengthen each other in many areas but not in the credit card market.
Obama has made clear his support of credit card reform by endorsing many
of the proposals under consideration such as limiting interest and fees,
starting a rating system for credit cards and introducing the “Credit
Card Safety Act” last year. Obama is also calling for adjustments in the
bankruptcy reforms laws. On the other hand, Biden has long opposed any
regulation of the credit card industry and was a stanch supporter of
bankruptcy reform. He also reportedly had a close relationship with
MBNA, based in Delaware. Biden also received extensive
support from MBNA and according to the New York Times his son was paid
about $100,000 per year between 2001 to 2005 as a MBNA consultant.

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ADS Buys Crosstown Traders Portfolio

PA-based Charming Shoppes has agreed to sell a portion of its credit card portfolio to Alliance Data Systems for $40 million in cash. The sale is part of a deal to sell its TX-based misses apparel catalog business, collectively known as Crosstown Traders to Orchard Brands for $35 million in cash. The Company also announced that it will initiate a process to explore the sale of its Figi’s Gifts in Good Taste catalog business, based in Wisconsin.

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TNB Special Promotion Pays-Off for CUs

TNB Card Services’ recent “Life of Balance” balance transfer promotion
produced an overall response rate of 3.8% and boosted the card
portfolios of the participating credit unions.
Credit unions offering a LOB rate saw an average transfer of $3,590
compared with a $2,695 average transfer for credit unions that opted for
a limited time promotional rate. Generating nearly a half million
dollars in balances, TX-based Shell FCU, is halfway to achieving its
goal of adding $1 million in card balances this year. The $284 million
credit union averaged $3,383 per transfer check and a 4% response rate,
which was a 58% increase in responses over its previous LOB
rate offer in early 2007. TexasOne Community Credit Union of Houston
achieved a 5.97% response rate with its LOB rate offer. With an average
transfer of $3,694, the credit union brought in more than $380,000 in
new card balances.

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BEST WESTERN VS SUNDAY HERALD

The Best Western Hotel chain has refuted what they claim are
‘unsubstantiated’ inaccuracies of a security breach into information
regarding customer records. Distributed by the Glasgow Sunday Herald,
the hotel chain is scrutinizing the publication for unfounded
exaggerations concerning the security of the organization’s Central
Reservations division, which were made on the limited basis to the
affect of a possible compromise of a select portion of data, which
happen to have been brought to attention by a Herald reporter. In
response, Best Western has disclosed assurance to all those concerned
there is no evidence to suggest need for concern and frequent
evaluations demonstrate the organization is compliant with PCI DSS,
which does require periodic evaluation, testing, and re-certification of
compliance.

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