SCB EMV CARDS

Standard Chartered Bank(SCB) has announced it will be deploying
EMV-chip credit cards to its customer-cardholders. The EMV
solution will defend SCB customers from skimming and other types
of fraud with its computing power. With every customer transaction
conducted using an EMV chip card, a “secret message” is sent from
the merchant for authentication verification, a security feature that
cannot be counterfeited in anyway. The bank will be implementing
the chip cards in stages starting with its Visa Platinum, then the Gold
and Classic, with others to follow in due course.

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TSYS Loyalty Introduces Enterprise Rewards

TSYS Loyalty has introduced “Enterprise Rewards” which calculates points and rewards for customers who have direct deposit, credit, mortgage, insurance and Certificate of Deposit accounts at one financial institution. “Enterprise Rewards” also supports a Web interface, which allows the bank’s customers to manage their total relationship with a single access point. TSYS Loyalty provides technology-based loyalty marketing solutions for the financial services and retail industries.

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MOSAIK GOLD AIR MILES REWARDS

The BMO Bank of Montreal has relaunched its Mosaik Gold AIR MILES
Reward Option. With this reintroduction, cardholders are now afforded
discounts on flights to over 500 destinations around the globe, can
accumulate one reward mile for every $15 spent, can accumulate 2 reward
miles for every $15 in card purchases at Shell Gas, can collect reward
miles
when using their payment card in stores/online and receive a 20% discount
on AIR MILES flight redemption, which can be used for flights on any
of the eleven participating airline reward partners. Moreover, cardholders
can stimulate the rate at which they accumulate reward miles by up to 40%
each month by holding such BMO products as a mortgage, savings account,
line of credit or business banking account.

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Autoscribe Unveils its Payment Vision Gateway

E-payment processor Autoscribe has introduced “Payment Vision Gateway Svcs.” Payment Vision is the hub of a software-as-a-service (SaaS) model that concentrates payments captured at various payment windows such as IVR, Internet and call centers. The hub-and-spoke alignment allows for perfect and continuous awareness of payments remitted at the consumer self-service windows. Autoscribe processes $4.5 billion in transactions annually.

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NOVOPAYMENT & PCI DSS

NovoPayment Prepaid Card Service has been awarded Data Security
Standard certification (PCI DSS) from the PCI Security Standards
Counsel. The certification, developed to implement security standards
for payment card processing, ensures the protection of data from
security threats and card fraud. PCI DSS was founded by American
Express, Discover Financial Services, JCB, MasterCard Worldwide and
Visa International to provide security management, intrusion alerts and
network architecture. NovoPayment Prepaid card service has a portfolio
consisting of more than 730,000 active cards and processes nearly 22
million transactions worth about $330 million per annum.

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Marriott Card Offers Personalized Rewards

Marriott Rewards is granting wishes for Silver, Gold and Platinum Elite members to create personalized rewards with its “Redeem for Anything” program. Members can now redeem points for anything they want. Marriott Rewards members can earn and redeem points for over 2,800 hotels in 65 countries around the world. Marriott Rewards points may also be redeemed for frequent flyer miles, cruises, car rentals, brand-name merchandise and more. Awards start at 50,000 points.

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Bank Freedom Hires a WaMu Exec for Cards

Berman Holding’s Bank Freedom subsidiary has hired Marcius De La Cruz, previously with Washington Mutual, as VP of Compliance for its prepaid MasterCard Card products. At Washington Mutual, De La Cruz held the position of Senior Financial Analyst and was responsible for maintaining up to date knowledge of regulatory issues including: Patriot Act, CIP, ECOA, Anti-Money Laundering, OFAC and FinCen monitoring, HMDA and Truth in Lending. Since 2006 De La Cruz has been consulting with Southern California banks and companies, which included senior AML/BSA positions for Union Bank, First Vietnamese American Bank, and AML Solutions.

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HMRC LEAVE APPLICATION

HM Revenue & Customs (HMRC) has filed an application for leave to
appeal a recent decision regarding VAT treatment of LMG’s “Nectar”
loyalty. The application, in turn, has been referred to the European Court
of Justice for hearing at a later date. Loyalty Management Group Limited
and its subsidiary are confident the case will conclude in the
Organization’s
best interest. Aeroplan shares these sentiments and will continue its
pursuit.
LMG operates its coalition of retail-based loyalty programs, including
“Nectar”, and employs approximately 190 representatives while Aeroplan
Income Fund is a Canadian loyalty marketing company.

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Card Delinquencies Hit a 16-Year High

Consumer credit delinquencies in the fourth quarter reached their highest levels since 1992, according to the American Bankers Association’s “Consumer Credit Delinquency Bulletin.” The composite ratio, which tracks eight closed-end installment loan categories, rose 21 basis points to 2.65 percent of all accounts in the fourth quarter (seasonally adjusted). All eight loan categories experienced increased delinquencies during the fourth quarter, a rare occurrence. The ABA report defines delinquency as late payments that are 30 days or more overdue. The weak housing market continues to be reflected in rising delinquency rates for home equity loans and lines of credit. Delinquencies for home equity lines of credit – the lowest delinquency rate category – rose 12 basis points to 0.96 percent.

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CARD ALLIANCE

Credit Saison and UC Card co have partnered with the S Korean
credit card firm, Shinhan Card co, intent on improving services. Given
the growing number of tourists traveling between Japan and South
Korea, the organizations collectively have expressed a need for this
alliance to provide travelers with extensive user features and benefits.
Statistics show nearly 30% of South Koreans who visit Japan are
Shinhan Card customers.

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CardWorks Processing Acquires Pay by Touch

UT-based Merrick Bank’s subsidiary CardWorks Processing has acquired the operating assets of Pay by Touch. The data processing assets being acquired are used by merchants to facilitate the acceptance of credit and debit cards through major payment networks, including VISA and MasterCard. Merrick Bank will also work with the major payment networks and appropriate regulatory authorities to ensure the continued integrity of the information security systems associated with the newly acquired data processing assets. Merrick Bank is an issuer of non-prime credit cards with more than $1 billion in assets.

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