RDM & ECS

RDM Corporation, software/hardware product developer for electronic
payment processing, and Electronic Check Services (ECS) have signed
agreements for the reselling of RDM’s Image and Transaction Management
System (ITMS) suite of electronic check conversion software.
Implementing such RDM bank agnostic software as “Simply Deposit,” ECS
will now be able to provide remote deposit capture capabilities to its
customers for electronically deposited checks. RDM Corporation’s bank
agnostic software doesn’t require merchants to change existing bank
relationships and is a provider of software and hardware products for
electronic payment processing while Electronic Check Services was
established in 1997 in Springfield, Missouri and provides Check
Processing, Prepaid Services, Bill Payment, Gift Card and Loyalty
programs to thousands of retail locations Nationwide.

Details

PRECIDIA & SHARP

Payment and networking software provider, Precidia Technologies, has
announced its “TransNet” payment engine application has been certified
by the Sharp Electronics to provide an integrated
payment alternative through its cash registers. This development
provides merchants using the Sharp cash registers with secure, IP based
payment processing direct to a wide range of certified payment
processors and value-added functionality through the “TransNet” engine.
Merchants are also afforded features designed to reduce costs and
facilitate cardholder data security standards compliance for credit,
debit, gift and loyalty from card swipe processing. Precidia
Technologies designs and manufactures Internet Protocol payment and
networking products for customers in over 85 countries.

Details

AmEx Inks a Hotel Folio Agreement with IHG

American Express has inked a hotel folio agreement with InterContinental Hotels Group. Under terms of the deal American Express will provide its corporate card customers with reports that break down lodging expenditures at nearly 2,800 IHG properties in the USA. AmEx folio agreements with hotel companies in North America and around the world now cover more than 70% of its clients’ commercial card spend in the U.S. AmEx corporate card customers can get expenditure reports by staying at IHG hotels including InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn Hotels and Resorts, Holiday Inn Express, Staybridge Suites, Candlewood Suites and Hotel Indigo. AmEx issues local-currency commercial cards in 45 countries, and “International Dollar Corporate Cards” in an additional 100 countries.

Details

Futura Card Services Names a New CEO

Stored value card provider Futura Card Services has hired Keven Lake, previously with IBM Global Services and US Internetworking, to serve as CEO and president. Lake has held executive management positions with various divisions of IBM Global Services and US Internetworking. While at IBM, he was responsible for managing relationships and developing strategies with companies such as The Home Depot, General Motors, GMAC and The Coca-Cola Company. While leading US Internetworking’s ecommerce division – now a part of AT&T – he worked closely with Bank of America and other large retail financial and insurance companies to improve customer acquisition programs in both the direct and online sales channels. Futura markets, distributes and services a suite of prepaid MasterCard debit card products that includes reloadable general spend debit cards, gift cards and wage disbursement cards.

Details

Belk Opts for the SmartClixx Platform

NC-based retailer Belk has selected stored value processor SmartClixx to process gift cards in stores and online. SmartClixx provides in-house Stored Value Card/Gift Card application software and services without charging per-transaction fees and offers security, flexibility, streamlined processes and operations, data mining, and future capability with significant cost savings. Belk has over 300 stores in 16 Southern states.

Details

New Research Reveals the Best Biz Cards

A new report released shows that the three best Web sites overall for small business cards are Discover, American Express, and Advanta. Change Sciences Group says its research found that the site that makes it easiest to understand its card offer does so in 29% less time than its closest competitor and the site that makes it easiest to apply requires 55% less effort than the average site. The research, conducted over the last month, looks at what small business people experienced on 14 top card web sites as they attempted to find a card that met their needs and begin doing business with the card company.

Details

Continental Employs 41st to Fight CNP Fraud

Fraud protection services 41st Parameter “FraudNet” has been selected by Continental Airlines to detect and thwart “Card-Not-Present” fraud in its online sales channels. “FraudNet” identifies legitimate versus suspect website transactions on a global basis, as well as to prevent fraudulent account access, enabling the airline to protect sensitive customer data. The “FraudNet” solution provides detection tools on a single workbench, thereby decreasing investigator training times and reducing the volume of manually reviewed transactions and allows airline investigators to identify interlinked activities and report genuinely fraudulent cases to law enforcement bodies.

Details

MetaBank Picks Vormetric Data Security

MetaBank has selected data security solution provider Vormetric’s “Data Security” to encrypt and protect sensitive personal and financial information on customers and credit card holders to meet PCI-DSS compliance. “Data Security” encrypts SQL Servers storing sensitive data based on ease of implementation, transparency, performance and centralized policy and key management. PCI DSS mandates include data encryption, protection of stored cardholder data, detailed auditing and logging of all access attempts, and controls on those who are authorized to view or work with the data. Vormetric Data Security meets PCI DSS and protects valuable information wherever it is stored within the enterprise.

Details

U.S. Bancorp Card Charge-Offs Rise 91BPS

U.S. Bancorp reported that its second quarter merchant acquiring volume grew more than 6% over 2Q/07 to $66.9 billion, produced from 857,070 merchants. However, credit card charge-offs rose to 4.84% for the second quarter, compared to 3.56% for 1Q/07 and 3.93% for the prior quarter. Merchant processing services revenue was higher in the second quarter than 1Q/07 due to higher core transaction volume and business expansion. Credit and debit card revenue, corporate payment products revenue, ATM processing services and merchant processing services were higher in the second quarter by $36 million or 16%, $15 million or 9%, $11 million or 13% and $23 million or 8%, respectively. U.S. Bancorp also noted that the Company’s results for the first quarter were also affected by several significant items, including a $492 million gain related to the Visa Inc. IPO that occurred in March, $253 million of impairment charges on structured investment securities purchased in the fourth quarter, a $62 million reduction in pretax income related to the adoption of a new accounting standard, a $25 million contribution to the U.S. Bancorp Foundation and a $22 million accrual for certain litigation matters. For complete details on U.S. Bancorp’s 2Q/08 performance, visit CardData ([www.carddata.com][1]).

MERCHANT ACQUIRING VOLUME HISTORICAL
2Q/06: $56,056,000,000
3Q/06: $56,411,000,000
4Q/06: $56,007,000,000
1Q/07: $57,839,000,000
2Q/07: $62,853,000,000
3Q/07: $63,882,000,000
4Q/07: $62,382,000,000
1Q/08: $64,853,000,000
2Q/08: $66,940,000,000
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

Details