PartnersFirst Signs TSYS to Process Cards

TSYS has signed an agreement with PartnersFirst Affinity Services to process its consumer credit card portfolio. PartnersFirst, a division of Torrey Pines Bank, offers a partner-centric model serving affinity groups across a wide range of special interests and affiliations, including colleges and universities, professional associations, sports, outdoor sporting and wildlife conservation organizations, and many more. PartnersFirst brings a full spectrum of credit card services to the small and mid-sized affinity partner market, incorporating the major network associations, world-class processing platforms, and state-of-the-art targeted marketing capabilities. TSYS) is one of the world’s largest companies for outsourced payment services, offering acquirer-processing technologies that support consumer-finance, credit,debit, debt management, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions.

Details

APRIL BIZ PULSE

The Conference Board of Germany has released business cycle indicators
for April 2008 with the leading index having decreased 0.2% and the
coincident index having increased 0.1% for the month. Additional
findings show the leading index fell 3.4% between October 2007 to April
2008, down from a growth of 2.4% in June of 2007 and the coincident
index rose .9% between October 2007 and April 2008. Meanwhile, Germany’s
real GDP growth picked up to a 3.6% average annual growth rate for the
last two quarters, up from a 1.7% average annual growth rate for the
second and third quarters of 2007. 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.

Details

PD Financial Signs ADS for Private Label Cards

Alliance Data Systems has signed a long-term agreement with Los Angeles-based PD Financial to offer private label credit card services. PD Financial Corporation, which currently operates under the trade name PeachDirect plans to launch its new brand identity as VENUE for both its catalog and web channels, with the private label credit card program launch coinciding with the new brand. Alliance Data will provide private label credit card services including account acquisition and activation; receivables funding; card authorization; private label credit card issuance; statement generation; remittance processing; customer service functions; and marketing services. The card program will build customer loyalty and drive repeat purchasing through a customer rewards program, which will provide incentives that recognize and reward cardholders for their patronage. PD Financial is a fast-growing retailer of luxury merchandise with sales in 2007 that reached $200 million.

Details

AmEx White Papers Focus on AXIOM Online Solution

American Express Business Travel has released two whitepapers detailing the reduction of indirect spending for Motorola and Senior Lifestyle Corporation through the purchased of an expanded set of business services online through the American Express Intelligent Online Marketplace (AXIOM). AXIOM is powered by Rearden Commerce and is the first corporate solution that combines the benefits of traditional online travel booking with a broad range of additional travel and business services on one platform. AXIOM brings together more than 137,000 suppliers of travel, business and entertainment services including airport parking, ground transportation, dining, event tickets, shipping, car service and audio and web conferencing, that would otherwise go unmanaged. Motorola saved nearly a fifth of its annual desktop shipping costs by providing employees a more convenient way to ship packages. AXIOM expanded visibility into Motorola’s shipping costs, allowing the company to set and manage shipping policies at the point of purchase and increasing compliance with preferred carriers and negotiated rates. Senior Lifestyle Corporation, the nation’s twelfth-largest senior living operator with more than 50 communities and 3,200 employees implemented AXIOM to significantly reduced costs associated with Senior Lifestyle’s existing training and business teleconferences. Since its launch, more than 1,500 customers have signed on to AXIOM.

Details

STV Card Specialist ProfitPoint Hires a New CFO

Stored value card provider ProfitPoint has hire Robert Moore, previously with Foster Medical, as its new CFO. Moore will focus primarily on raising the capital required to execute ProfitPoint’s growth strategy through strategic acquisitions, as the demand for stored value services continues to increase within the mass market where ProfitPoint has established itself as a market leader through mostly organic growth by way of its ever expanding direct sales force. Moore was responsible for overseeing the negotiations and integration of 106 acquisitions over a period of four years during his tenure as CFO of Foster Medical. Moore has a B.S. in Accounting from LaSalle University, and is a Certified Public Accountant.

Details

NRF Embraces MO Senator’s Support on Interchange

The National Retail Federation has welcomed the support offered by Missouri Senator Christopher “Kit” Bond as a co-sponsor of the “Credit Card Fair Fee Act of 2008” which focuses on interchange fees. Bond became the lead co-sponsor of S. 3086, which was introduced two weeks ago by Senate Majority Whip Richard J. Durbin, D-Ill. The legislation is a companion measure to H.R. 5546, also named the “Credit Card Fair Fee Act of 2008”, introduced by House Judiciary Committee Chairman John Conyers, D-Mich., and Representative Christopher Cannon, R-Utah. At issue is credit card “interchange,” a non-negotiable fee averaging close to 2% that Visa and MasterCard banks charge merchants every time a credit card or signature debit card is used to pay for a transaction. Visa and MasterCard effectively force merchants to pass the fees on to consumers by requiring them to be included in the advertised price of items and making cash discounts difficult. Interchange is largely unknown to most consumers because Visa and MasterCard keep merchants from disclosing it on receipts and don’t disclose the fee on monthly statements. According to NRF estimates, the average U.S. family will pay $427 in hidden credit card interchange fees in 2008, up from $378 in 2007.

Details

BofA Targets Texas Longhorns Students

As an official corporate sponsor of UT Athletics Longhorn Sports Network, Bank of America has introduced checking, check cards and credit card product options to appeal to Texas Longhorns students, alumni and fans. To mark the new product launch, Bank of America will be hosting an autograph signing session with UT Head Football Coach Mack Brown at its Austin banking center, to which the public is invited. Offering customized checks, Visa-branded Check Cards, MasterCard-branded credit cards and its “Keep the Change” savings program, Bank of America is encouraging consumers to sign up at any of the participating 5,700 banking centers, at select home UT Athletics events or online at http://www.bankofamerica.com/texasexes . Bank of America serves over 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 18,500 ATMs and online banking for 25 million active users.

Details

Smart Card Shipments Rise 24% in 2007

The Smart Payment Association has announced its “2007 Global Payment Cards Market Survey” results. These results show over 420 million payment smart cards were delivered by SPA members throughout the year, a 24% growth since 2006, dual interface and pure contactless demonstrated a 64% growth, the Americas had the fastest growth with 45% since 2006 while Dynamic Data Authentication is growing twice as fast as SDA technology. The Smart Payment Association members include Gemalto, Giesecke & Devrient, Oberthur Technologies and Sagem Orga with a primary objective to accelerate the transition from traditional, magnetic stripe cards to chip based cards by ensuring optimal interoperability between all system components, through representation on standardization committees and establishing joint industry specifications.

Details

MasterCard & Obopay Launch MasterCard MoneySend

MasterCard and Obopay have inked a partnership to offer a fully-integrated on-demand P2P mobile payment service in the USA. The new “MasterCard MoneySend” service will enable new and existing MasterCard issuing customers the ability to provide an innovative mobile payments service to their MasterCard cardholders on all credit, debit and prepaid MasterCard-branded products. Participants will use mobile numbers to send and receive funds, keeping their payment account numbers private. TowerGroup estimates that in the USA, adoption of consumer mobile banking has quintupled in the past 12 months from 1.1 million active users in 2007 to 5.7 million active users today.

Details

LifeLock’s CEO to Clarify its Company’s Mission

Identity protection provider LifeLock CEO Todd Davis will hold a town hall meeting to answer questions and clarify information about the company’s program and mission. The meeting will be held Friday, June 20. LifeLock requests on behalf of its clients that the national credit bureaus place fraud alerts on its members’ credit files, and requests that members’ names be removed from pre-approved credit card offers and junk mail lists. LifeLock is backed by a $1 million service guarantee. In addition to the proactive identity theft protection measures provided by LifeLock, members are also entitled to LifeLock’s “WalletLock”, “eRecon” and “TrueAddress” services. “WalletLock” works to cancel and replace all documents and personal identifying information inside a wallet if it is lost or stolen. “eRecon” is a regular patrol of the Internet in search of social security numbers, credit card numbers, driver’s license numbers and email addresses of LifeLock members to protect against the information being illegally traded or sold online. LifeLock’s “TrueAddress” service searches to see if members have had a change of address form filed and alert them if there are changes made that they may be unaware of.

Details

ACCOUNTIS & RBS

The Royal Bank of Scotland (RBS) and Fundtech’s Accountis have partnered
to provide electronic invoicing for corporate customers. With these
agreements, RBS will be allowed to provide a VAT compliant e-invoicing
service to their corporate customers through the reselling of Accountis’
secure financial document exchange/payment services. The Accountis
e-invoicing provides proof of delivery, acceptance, query and approval
status for all documents of business transactions. Additionally, the
Accountis solution provides improved operational efficiencies, quicker
payments, reduced ‘days sales outstanding’ and reduced working capital
requirements to replace slower, more costly, paper-based processes.
Fundtech was founded in 1993 and provides over 750 corporate clients
with operational efficiency, Accountis processes over 1 million
transactions daily and RBS has operations in over 50 countries across
the world, serving 40 million customers while employing more than
170,000 people.

Details