Minsheng Bank JCB Card

JCB has teamed with Minsheng Bank and Shiseido Liyuan
Cosmetics to issue a new co-branded credit card. In China, JCB has alliances with ten partner banks and financial institutions for acquiring operations and a network of approximately 70,000 merchants that accept JCB brand cards. The new “Minsheng Lady Flower Aupres JCB Card” design features a sparkling cubic zirconia embedded in the card surface. Under the new card program free gifts and incentives are issued when applying the new card. The first 60,000 applicants receive a cosmetics package. Also, the first 30,000 applicants who use the card three times and spend RMB88 or more in each purchase- within the first two months receive cosmetics package.

Details

Card Activation Wins Two Major Lawsuits

Chicago-based Card Activation Technologies won a significant court ruling on March 20th in its lawsuit against major retailers Barnes & Noble and Aeropostale. Barnes & Noble and Aeropostale sought to invalidate the Card Activation patent in that litigation. Federal District Court Judge Joan Gottshall entered a decision, however, refusing to accept Barnes & Noble and Aeropostale’s position that Card Activation’s patent is invalid. The Card Activation patent relates to a method used by most retailers for processing debit styled cards, which include gift cards and phone cards. Card Activation currently has lawsuits pending against Walgreen, Sears, TJX and OfficeMax. Card Activation has also placed on notice approximately 600 retailers relating to their potential infringement of the patent.

Details

ADS CERTFIES OTI CONTACTLESS READERS

On Track Innovations announced that its “Saturn 5000” and
“Saturn 6000” contactless readers have received certification from Alliance Data. The readers can support global contactless EMV applications published by MasterCard and VISA, Mifare technology, and non-EMV contactless payment programs from other major financial institutions, including “ExpressPay” from American Express and Discover.
The “Saturn 5000” and “Saturn 6000” approval is for Alliance Data’s
consolidated countertop application running on the Ingenico i5100, and
VeriFone’s Omni 3740/3750/Vx510/Vx570 platforms. Alliance Data
certification includes merchant deployment, profile setup and download,
documentation and specially trained 24 x 7 x 365 help desk support, making the “Saturn 5000” and “Saturn 6000” easy to implement and maintain for Alliance Data acquirers and ISOs and their merchants.

Details

Experian Introduces Knowledge IQ Services

Experian has introduced “Knowledge IQ” services through IVR systems. Experian has reached an agreement with Adeptra to begin providing the automated capability through their automated interactive technology, the virtual calling platform. The first collaboration has been implemented at a top-five financial institution. “Knowledge IQ” is a knowledge-based authentication system that assesses fraud risk by calculating a Precise ID identity risk score and posing a series of credit and noncredit challenge questions to an individual. In doing so, “Knowledge IQ” enables an organization to authenticate the consumer and determine the level of identity risk associated with that individual and interaction.

Details

TSYS Signs a Deal with Standard Bank

TSYS has signed a contract to provide Standard Bank of South Africa card issuing, merchant acquiring and related payment services for the multiple countries across Africa in which they operate. Standard Bank’s issuer cardholder accounts and acquirer merchant accounts will be processed on TSYS’ global single source, multi-client processing solution supporting multiple countries, languages, currencies, functional requirements, regional infrastructure and regulations. Standard Bank is a South African-based financial services company with a global presence, operating in 18 countries in Africa and 20 on other continents, including the key financial centres of Europe, the Americas and Asia.

Details

USA Technologies and ViVOtech Ink a Deal

USA Technologies and ViVOtech have signed agreements providing the latter will be deploying 25,000 contactless card readers for the former and its “ePort” technology. This development is essentially an expansion of 2007 agreements stipulating the deployment of 10,000 of the ViVOtech readers with the “ePort” functionality and is in response to growing demand of the feature. This growing demand is evident with MasterCard’s installation of 17,500 vending machines with “ePort” for the acceptance of “PayPass” and Discover’s “ePort” installation at 1,000 vending machines for the acceptance of “Zip contactless payments.” USA Technologies provides wireless non-cash transactions for various industry sectors while ViVOtech payment solutions has shipped over 360,000 contactless terminals to over 30 countries worldwide.

Details

Advertising Expenditures Slip in 4Q/07

The advertising market continued to sputter at the end of last year and finished the year with measured spending of $149 billion, up 0.2% compared to 2006, according to data released by TNS media intelligence. Total expenditures during the fourth quarter of 2007 fell by 0.1% versus a year ago. Internet display advertising continued its growth leadership, increasing 16% in 2007 to $11.31 billion in expenditures. Consumer Magazines registered a 7% gain to $24.4 billion on the strength of higher spending by consumer packaged goods marketers. Cable TV spending surged in the second half and finished 2007 at $17.84 billion, an increase of 6.5%. Outdoor advanced by 4.9% to $4.02 billion.

Details

Lifelock Partners with Heartland Credit Union

Lifelock has partnered with Heartland Credit Union to provide members with identity theft protection for a discounted price. The security solution sets automatically renewing fraud alerts with the major credit bureaus, removes member names from pre-approved credit card offers, removes names from junk mail lists, cancels/replaces all personal wallet items in the event it is ever lost or stolen and is insured with a $1 million service guarantee. LifeLock was awarded as the winner of the 2007 American Business Award for the Best Radio Advertising Campaign and is widely recognized while Heartland Credit Union provides financial solutions for its customers.

Details

American Express OPEN & StubHub Partner

American Express OPEN and ticket vendor StubHub have partnered to offer a 3% discount to business owners for ticket purchases. OPEN Savings is a benefit embedded within all American Express Small Business Cards. American Express Business Cardmembers simply need to use their small business credit or charge card for purchases with any OPEN Savings partner to take advantage of discounts. The savings will automatically appear on the Cardmember’s monthly statement and can be tracked when accessing an account at http://www.open.com. OPEN Savings discounts are calculated on the full transaction amount, including any taxes and surcharges.

Details

VISA IPO Tops $19B and Hits $60 Per Share

The underwriters of VISA Inc.s’ initial public offering exercised their over-allotment option to purchase an additional 40.6 million shares at $44 per share. The action boosted the VISA IPO to $19.1 billion as it trades nearly at $60 per share this morning. VISA’s IPO was the largest domestic initial public offering in U.S. history and the third largest initial public offering worldwide. To mark the occasion, VISA’s Chairman and CEO Joseph W. Saunders yesterday rang The Opening Bell at the NYSE and was joined on the trading floor by 30 middle school students from the Kappa V School in Brooklyn, NY. The students were on hand to view the first public trade of VISA shares, which Saunders personally conducted on behalf of the Teach for America Program, the national corps of top college graduates who commit two years to teach in rural and urban public schools.

Details

Hannaford Bros Data Breach Draws Lawsuits

Philadelphia-based Berger & Montague has filed a lawsuit against Hannaford Brothers over its alleged payment card data breach. The complaint alleges that Hannaford was negligent for failing to maintain adequate computer data security of customer credit and debit card data, which was accessed and stolen by a computer hacker. The stolen data included “credit and debit card numbers and expiration dates,” which were accessed from Hannaford’s computer system “during transmission of card authorization.” The intrusion affected all Hannaford stores located throughout the North Eastern U.S., as well as Sweetbay stores in Florida. About 4.2 million unique credit and debit card numbers have been exposed to potential fraud. To date, there have been approximately 1,800 cases of reported credit and debit card fraud stemming from the breach.

Details