Mobile marketer SmartReply has added 14 new clients to its roster and renewed contracts with five large clients that include Meijer Supercenters. SmartReply’s newest clients include leading brands in department stores, big boxes, specialty apparel and grocery. Since 2001, the company has climbed-financially and in market share – experiencing exponential growth with the addition of mobile marketing and Interactive Voice Response (IVR) products. SmartReply has delivered almost two billion unique and targeted messages and is PCI certified.Details
Hypercom Corporation’s “medCompact” healthcare terminal has passed
e-Health BCS (Basic Command Set) functional tests required by the
Gematik German healthcare organization and will subsequently be deployed
across the country. This development is part of an all German e-Health
card program IT project, which has a planned deployment of more than 80
million electronic health insurance cards and new terminals designed to
process both the current German health insurance card and the new
electronic healthcare cards. With an easy-to-read display, embossed keys
and the acceptance of up to eight different medical practitioner cards,
current indications show these terminals will be installed in doctor’s
offices and hospitals nationwide by 2H/08.
Prepaid Card Holdings’ CEO Bruce Berman will not draw his agreed upon monthly salary of $24,791, opting to rechannel the money back into the company. The money will target marketing and fulfillment costs to keep pace with the company’s expansion. Prepaid Card Holdings offers emerging prepaid card solutions that can act as a card account and payment solution for those people who do not use banks or credit cards.Details
TransUnion has launched its “Personal Loan Score” credit scoring tool to
help businesses reduce delinquency of unsecured loans in Hong Kong.
“Personal Loan Score” predicts future loan performance and assesses the
loan value for the following 1 year period, to which it designates a
numeric value. With this value, companies can make strategic decisions
on worthy prospects, can manage risk exposure with increased accuracy,
and enhance modeling for customer acquisition, subsequently, driving
revenue and decreasing collection costs. TransUnion credit and
information management gathers, analyzes and delivers information to
improve efficiency, manage risk and reduce costs for businesses and
provides the tools, resources and education to help manage credit health
and achieve financial goals for consumers around the globe.
TSYS has renewed its agreements with Canadian Tire Financial Services to
process both its payment cards programs, which includes its MasterCard
and private label retail portfolios, and merchant acquiring services.
Under undisclosed terms, TSYS will also provide fraud management, risk
management, portfolio analysis and a rewards/loyalty program for
Canadian Tire, which has been a client of the former since 1998.
Moreover, Canadian Tire operates over 1,160 retail locations serving
nearly 4.6 million Canadian Tire MasterCard accountholders and employing
57,000 Canadians while TSYS outsourced
payment services provides issuer and acquirer processing to
organizations around the world.
The Conference Board of AUSTRALIA has released business cycle indicators
for April 2008 with the leading index having increased 0.3% and the
coincident index having increased 0.1% for the month. Additional
findings show the leading index fell 0.1% between October 2007 to April
2008, down from a 2.8% expansion in June of 2007, and the coincident
index rose 0.5% between October 2007 and April 2008, down from an
expansion of 0.9% for the 6 months prior. Meanwhile, real GDP growth
slowed an average annual rate of 4.7% to 2.6% for 1Q/08 and 4Q/07 since
the previous two quarters. Founded in 1916, The Conference Board is a
business membership and research network to help executives build
professional relationships, expand business knowledge and find solutions
to business challenges.
Moody’s says the recent federal court action against CompuCredit and its debt collection subsidiary and partner banks does not, in and of itself, present an immediate threat to the credit quality of CompuCredit’s related credit card receivables-backed securities. The credit card portfolios backing the asset-backed securities are currently performing within Moody’s expectations. Also, structural elements, like a contracted backup servicer, spread capture triggers, relatively tight early amortization triggers, and high levels of credit enhancement, help mitigate many of the comparatively risky elements of the CompuCredit business model. However, Moody’s notes that recent actions by the FDIC and FTC may make it more difficult for CompuCredit to originate receivables through its remaining partner banks.Details
A new report says that U.S. ABS credit card seller/servicers are taking proactive steps to mitigate risk exposure in the face of rising delinquencies and losses. The Fitch Ratings study found that some of these steps include using third-party data to identify emerging trends, tightening origination standards and evaluating loss mitigation tools to help customers through difficult times. In response to the recent increase in charge-offs, issuers have taken steps to re-price and manage risks in their portfolio which has allowed excess spread levels to remain fairly robust. Fitch expects charge-offs to continue to rise into 2009.Details
Diners Club International has inked an an agreement with the Regus Group to provide cardholders from participating countries access to all 950 Regus business centers around the world. The first market to launch the new program will be Australia, shortly followed by India. Cardholders will receive unlimited access to business centers in 70 countries and 400 cities, including 30 business lounges near major international airports. Also, preferred rates and priority booking for fully equipped day offices, meeting and training facilities at any Regus location and access to business support services. Diners has acceptance in more than 185 countries, 13 million merchants, and access to over 1 million ATMs.Details
Taiwan Cooperative Bank has launched the first “Visa Prepaid” card in Taiwan. The new “TCB Electronic Money” is available for NT$100 at any TCB branch and does not require consumers to open an account or hold a credit line with a bank. Cardholders can keep track of the value of their cards by check the balance at the same ATMs or internet ATM service they use to top up their cards. Should cardholders want to reclaim the remaining balance, they only need to transfer the money to a designated bank account through the ATM or internet ATM. “Visa Prepaid” cards have been available in India and Indonesia since 2002. To date, Visa has launched prepaid gift and travel cards in Australia, Hong Kong and India; general purpose reloadable cards in New Zealand and Australia; payroll cards in India and Philippines; a virtual card in Australia and remittance cards in Sri Lanka, Australia and the Philippines.Details
TX-based NetSpend and GA-based Skylight Financial have agreed to merge to create the largest private prepaid debit card provider in the USA. Skylight has more than 1,000 corporate client relationships for its payroll card and other prepaid debit products while NetSpend has issued more than 14 million prepaid debit and gift cards via retail locations. Additionally, NetSpend has over 30,000 card purchase locations and a total of approximately 65,000 debit card reload locations. Following the merger, NetSpend’s headquarters will remain in Austin, Texas, and Skylight will continue to operate out of its current location in Atlanta, Georgia. The deal is expected to close in the third quarter.Details
Cash access provider Global Payments has signed agreements with nine casinos in the U.S. and Canada to offer “PlayerCash @dvantage” credit and debit card cash advance services, “VIP Preferred” check-cashing services, and “ATM Cash @dvantage”. Global will provide services to Mardi Gras Casino in Black Hawk, Colorado; Player’s Club Casino in Ventura, California; Running Aces Harness Park in Forrest Lake, Minnesota; Hoosier Park Racing & Casino in Anderson, Indiana; 7th Street Casino in Kansas City, Kansas; Bodine’s Casino in Carson City, Nevada; and Wind River Casino in Riverton, Wyoming. Services in Canada will be provided to Flamboro Downs in Hamilton, Ontario and Georgian Downs in Innisfil, Ontario.Details