PREPAID PROJECTIONS

A new survey estimates a potential market of more than 300 million unbanked Latin Americans with a purchasing power of more than US$200 billion per year using reloadable prepaid spending cards by 2015. Brazil is expected to lead the way with US$69.5 billion followed by Mexico at US$54.3 billion and Argentina at US$22.2 billion within seven years. The research by NovoPayment also predicts that Columbia will have a prepaid purchase power of US$15.8 billion and Venezuela will have US$15.4 billion in prepaid spending volume by 2015. NovoPayment says its study revealed a significant market with the income, access to
infrastructure and consumption behavior to be viable prepaid general
purpose card users. Also, approximately 57% of the population has the
need, the capacity, the means, and it believes the necessary economic and social incentives to warrant modern payment tools. NovoPayment’s portfolio includes more than 730,000 active cards representing more than 22 million transactions and approximately $330 million annually.

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Powered by Digby M-Commerce Platform is Launched

Mobile commerce provider Digby has released “Powered by Digby” mobile shopping platform and signed on Godiva and 1-800 Flowers to launch mobile storefronts. These mobile storefronts utilize the retailer’s brand identity and deliver a streamlined shopping and checkout process to mobile users with smartphones. “Powered by Digby” also provides mobile-browser access which allows the retailer to reach any customer with access to the mobile internet. The combination of a rich application for smartphone users with broader access for mobile-browsers maximizes the return on the retailer’s investments by delivering their mobile storefront to virtually all connected handheld devices.

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Fair Isaac to Offer Memento Security Service

Fair Isaac has partnered with MA-based fraud solution provider Memento to offer “Memento Security 4.0” to financial service companies in order to combat internal fraud..Bringing Memento Security into Fair Isaac’s fraud portfolio, which includes protection for more than one and a half billion payment cards worldwide will provide Fair Isaac’s clients a new breadth and scope of protection against the escalating problem of internal fraud.

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QUORUM/DKV SERVICE CARD

Providing such features as a 45-day credit period and no bank guarantee,
Quorum/DKV has successfully launched its Service Card with 279 Clients
having ordered 1,806 cards since January. The card also features toll
services, VAT services, repair service and tire service offers at 9,600
filling stations in German and nearly 40,000 service stations across
Europe and Morocco. Quorum AG specializes in funding small and
medium-sized enterprises in Germany, is a member of the ABFA (Asset
Based Finance Association) and the International Factors Group with
operations in over 50 countries.

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Discover Antitrust Lawsuit Seeks $6B from V/MC

Discover’s antitrust lawsuit against VISA and MasterCard is reportedly seeking damages of more than $6 billion based on recently unsealed court documents. The litigation is scheduled for trial in September. The four-year old lawsuit follows on the heels of the DOJ’s successful lawsuit over Visa and MasterCard and its competition bylaws. Last year, Visa agreed to pay American Express $2.25 billion to settle its antitrust lawsuit. In 2003 VISA agreed to pay retailers $2 billion over a ten-year period, lower off-line debit-card fees, and modify its “Honor All Cards” policy. MasterCard also agreed in 2003 to pay the equivalent of $1 billion in damages. (CF Library 4/29/03; 5/1/03)

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RAHAXI & HANSAWORLD

FreeStar Technology’s Helsinki subsidiary, Rahaxi Processing Oy, has
signed a distribution agreement with HansaWorld for the deployment of
its terminals with “MacPeople” International Apple stores, the first
implementation using the MAC operating system. Established in Sweden in
1988, HansaWorld accounting, ERP, CRM, e-Business, retail (POS),
production and hotel business solutions employs around 300 associates,
has 20 years’ experience in the international software market and over
70,000 installations worldwide while FreeStar Technology Corp provides
merchants and acquirers financial products and services worldwide.

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FTC/FDIC Target Sub-Primer CompuCredit

FTC Press Conference Will Announce Lawsuit Challenging Subprime Credit Card Marketing Company and Debt Collector

On Tuesday, the Federal Trade Commission will announce a law enforcement action charging a credit card marketer and a debt collection company with using deceptive marketing practices and abusive debt collection tactics affecting consumers in the subprime market. The announcement will be made during a joint press conference with the Federal Deposit Insurance Corporation (FDIC); the FDIC will announce administrative charges against the credit card marketer and banks that issued credit cards marketed by the company.

WHERE: Federal Deposit Insurance Corporation
Board Room
550 17th St. NW
Washington, DC 20429
WHEN: Tuesday, June 10, 2008, 1:30 p.m.
PRESS CONTACT: FTC Office of Public Affairs
202-326-2180
[Click here for the full story in PDF format.][1]

[1]: /cardflash/secure/oldstatic/2008/june/10c.pdf

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TRANSPORT & CITY LIFE

The NFC Forum is set to host its “Transport and City Life Applications”
Spotlight conference to facilitate discussions and demonstrate NFC
transport applications. With presentations by NFC Forum Vice Chairman
Gerhard Romen of Nokia and Dr. Wolf Heine of T-Systems, among other
executives, the forum intends to generate input from forum members and
invited guests. Additionally, “Spotlight: Transport and City Life” will
allow organizations to demonstrate new solutions, share deployment
experiences and identify best practices of the more than 60 NFC
transport and city life projects. The NFC Forum has over 150 global
member companies developing specifications for modular NFC device
architecture for interoperability and data exchange.

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Cash Systems Signs Eastside Cannery Casino

Casino cash access solution provider Cash Systems has signed a new contract with Las Vegas-based Eastside Cannery Casino and Hotel where Cash Systems will provide its full line of cash access services including all-in-1atm services and casinopc for cash advance services. Cash Systems all-in-1atm offers patrons an ATM with multifunction capability. Patrons can select an ATM cash withdrawal or select a POS Debit or Credit Card transaction all from the same ATM. casinopc is an exclusive product of Cash Systems that offers the full range of services for processing and completing transactions at the casino cage, all residing on one system.

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QC Financial to Distribute NetSpend Prepaid Cards

Prepaid solution provider NetSpend has entered into an agreement with KS-based payday loan provider QC Financial for a new prepaid debt card program. The card will be issued by MetaBank and are available at QC’s 596 locations across 24 states The NetSpend Prepaid Card Network includes leading consumer brands and companies serving the un- banked and under-banked markets, and its strategic relationships include card issuers, EFT networks and payment card associations.

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Irdeto’s Cloakware Joins the PCI Security Council

VA-based Security solution provider Cloakware has joined the PCI Security Standards Council as a new participating organization. Cloakware will now have access to the latest payment card security standards from the Council, be able to provide feedback on the standards and become part of a growing community that now includes more than 450 organizations. In an era of increasingly sophisticated attacks on systems, adhering to the PCI DSS represents an entity’s best protection against data criminals.

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