Boost Mobile Selects Vesta Corp

Vesta has been selected by Boost Mobile to manage phone- and Internet-based recharge transactions for the operator’s entire product line. The collaboration streamlines Boost’s current credit recharge model by eliminating the need for customers to register over the phone with a live agent. Additionally, new capabilities will be introduced that enable Boost customers to utilize debit cards and electronic checks as payment options, expanding customers’ options for replenishing via phone, WAP, or Internet. Boost will also introduce a feature allowing customers to receive a “gift” of “Re-Boost” dollars. This proprietary Vesta feature allows a subscriber’s friends and family to add funds to an account in real time.

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VeriFone V(x) Clears Givex Gift Cards

Givex has received certification of its gift card and loyalty programs for VeriFone’s “V(x)” Solutions. Merchants using the “V(x)” series of VeriFone payment systems are now able to process Givex gift card and loyalty transactions. In addition to processing real-time Givex gift card and loyalty transactions, merchants will benefit from a full range of support services, including 24/7 support, online reporting, program administration, card production and marketing, and more.

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B2B Markets Projected to Reap a 7% CAGR

A new report from Aite Group reports that the global wholesale payments market will grow from $18 billion in 2008 to $25 billion in 2012, a 6.8% CAGR. Aite says the most successful vendors in this market will be those whose solutions are flexible, configurable, and easily integrated with other external systems. The market will act as building blocks with standard connections, allowing disparate offerings to connect to each other and creating the ability to add more blocks at any time in order to meet the needs of the client.

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Travelex and MC Launch the Cash Passport Card

Travelex has teamed with MasterCard and West Suburban Bank to create the “Cash Passport MasterCard.” The new card is available in Euros and British Pounds. Because Cash Passport is denominated in foreign currency, the exchange rate is locked in at the time the card is loaded. The “Travelex Cash Passport” card will be available at local banks, travel agencies and Travelex retail locations in North America in the second quarter of 2008. “Cash Passport” will be available in Pound Sterling or Euros and the card is re-loadable up to 24 times.

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uTANGO VISA LifeStage Reward Card Is Introduced

uTANGO has enhanced its program by introducing the “uTANGO VISA Card.” The loyalty rewards program is designed specifically to help consumers leverage their existing daily spending to earn over $1 million in lifetime cash rewards. “uTANGO” pays members up to $800 per year in annual cash rewards and once married, uTANGO pays “LifeStage Cash Rewards” up to $10,000 at 10 years, $100,000 at 20 years and $1 Million at 30 years of plan participation.

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New Survey Shows Rewards More Valued Than Perks

A new JupiterResearch and PayPal study revealed that consumers value payment security and payment choice more than rewards when making purchases online. PayPal partnered with independent research firm JupiterResearch to develop a series of survey questions focused on how the U.S. population uses payment methods when shopping online. According to the research, when consumers are confronted with two merchants who offer the same product at the same price, the two most influential factors when choosing where to buy are payment security and payment choice. The study showed that security influences online shopping behavior more than typical merchant incentives like rewards and discounts. In fact, more than half of the survey respondents consider the security of their financial information as the deciding factor when they make purchases. An additional two thirds of shoppers feel more secure when they don’t have to enter financial information at all, even at merchant Web sites they trust.

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Diebold Spurs United Technologies’s Offer

Diebold has unanimously rejected United Technologies’ unsolicited proposal to acquire Diebold. Recently, the full Diebold board completed a detailed strategic review of the company and its prospects. At least three times in the last month, including this week, the board met to discuss UTC’s interest in a potential business combination with the company. Given that Diebold has not filed financial statements since the company’s 10-Q for the quarter ended March 31st and that the company is working to become current in its filings with the SEC, the board believes that now is not the right time — and that it would not be in the best interests of the corporation or its shareholders — to pursue discussions with UTC.

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FBMC and TSYS Team for a Health Benefits Card

TSYS Healthcare has announced its “Fringe Benefits Management Company,” the first third-party administrator to offer its subscribers the ability to pay from multiple healthcare tax-advantaged accounts, credit accounts and cash accounts through a single card. FBMC and TSYS Healthcare signed an agreement in September 2007 and the implementation to TSYS’ new healthcare system was successfully completed in only four months.

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GE Money to Issue the Mattress Firm Card

GE Money and Mattress Firm have inked a multi-year agreement to provide consumer financing services. The Mattress Firm credit card program, issued through GE Money’s Sales Finance unit, is available through Mattress Firm’s 450 stores in 37 markets across the United States. The no-annual-fee “Mattress Firm” credit program provides various financing options that include EasyPay, a low fixed-interest program that makes financing affordable for consumers.

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FAIR ISSAC & ADEPTRA

Fair Issac and Adeptra credit risk management have signed agreements
for the integration of decision management solutions with fraud detection
and collections, respectively. With this development, clients can automate
customer contact capabilities, allowing for improvements in fraud
detection speed and collection service levels. Furthermore, with Fair
Isaac’s
“Falcon”, clients are allowed to automatically contact cardholders in the
event of a suspicious transaction. The nature of such transactions are
identified by “Falcon’s” neural network of predictive technologies, which
then implement immediate action to stop the fraudulent activity and
subsequent losses. The fraud and collection partnership will offer services
to Fair Isaac customers, effective immediately. The Fair Isaac Corporation
provides clients in 80 countries loyalty, profitability, fraud, credit
risk and
market share solutions while Adeptra contact center solutions provide
personalized dialogue and resolving issues to its clients’ customers.

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Barclaycard Hires Two U.S. Managers

Barclaycard U.S. has hired a new GM of partnerships and a Managing Director of Customer Care and Bank Operations. Scott Young, formerly with GE Consumer Finance, has been hired as a General Manager, Partnerships, leading the Strategic Alliances and Partner Management teams. Barclaycard also hired Tom Karinshak, formerly with AOL Time Warner, as Managing Director, Customer Care and Bank Operations. Karinshak will oversee customer satisfaction and loyalty, call center operations and working with Barclaycard US. Prior to GE, Young spent 12 years at MBNA (now Bank of America), where he held positions in marketing, business development, operations and risk and managed the Wachovia credit card partnership, one of MBNA’s largest partnership portfolios at the time. Barclaycard US currently has more than $6 billion in receivables, over 4 million accounts and over 60 co-branded partnerships.

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CyberSource Intros Intelligent Review Technology

CyberSource announced Intelligent Review Technology as part of its risk management solutions for eCommerce merchants. New features of its enterprise-class case management system push automation beyond the initial order screening process and into secondary review cycles so that online sellers can more easily accommodate growth. Also, physical device fingerprinting has been added to the management portal’s set of 150+ integrated fraud detectors. A single connection to CyberSource brings merchants to the CyberSource global fraud portal, “Decision Manager,” which begins the fraud detection process. The system can automatically apply over 150 global validation tests against the inbound orders and, per merchant-defined rules, automatically make a decision to accept, reject or mark the orders for further review.

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