Fitch Ratings has upgraded Washington Mutual Bank credit card seller/servicer rating to ‘Proficient Plus’ from ‘Proficient’. The rating is based on the management team’s extensive industry experience, improvements made to its collection strategies and the company’s ability to cross-sell general purpose credit cards to existing bank customers. WMB has a managed credit card portfolio of $27.2 billion and 12.4 million customers as of Dec. 31, 2007. Fitch expects to publish a full report detailing the qualities of WMB that support the assigned ratings.Details
Retail Banking Research (RBR) and the ATM Industry Association (ATMIA
Europe) have teamed to host the ATM conference, “European ATMs 2008”.
Held in a larger venue than in 2007, in response to the popularity of the
event, the “European ATMs 2008” conference will feature findings of European
IAD case studies, themed streams, over 35 speakers, including John
Shepherd-Barron OBE-inventor of the ATM, and participants from 20
countries whom will be addressing such topics as self-service strategy,
deposit automation, outsourcing, new services, ATM marketing and
The PCI Security Standards Council yesterday announced that “PCI PED” equipment approval listings and security requirements documents are now available on the Council’s Website. With the announcement, PCI SSC has finalized this important phase of its mission to assume responsibility as a single source of information and requirements for PED. PED was previously jointly administered by JCB, MasterCard Worldwide and Visa, Inc.Details
Montise has reported a 15% drop in stock for 2H07, partly thanks
to development costs accounting for EUR7.6 million loss. Other factors
the mobile bank operator blames include lower demand for its services
and the subsequent diminishing revenues. Montise, however, is
expecting increased transactions for the second half, is reporting a
1H08 revenue of nearly EUR30,000, has almost 110,000 customers
and is in the process of finalizing agreements with bank clients to increase
account coverage from anywheres between 37% and 53%.
Equifax has launched a free, online fraud alert product for consumers who believe their personal information has landed in the hands of an identity thief. Consumers now can request online an initial 90-day fraud alert and active duty military alerts. The new Equifax site offers instant online confirmation of the fraud alert request; email confirmation within 48 hours verifying that a fraud alert has been placed on their Equifax credit file; automatic notification of the fraud alert to the other credit reporting companies and access to free Equifax credit report when alert is placed on credit file.Details
Hubro has launched e-Smart Technologies’ “I AM” Super Smart Card,
which will provide the company with security access control and internet
security. Moreover, this platform is designed to be compatible with
future upgrades for all 3 e-Smart Technologies’ systems, which include
“Biometric Verification Security”, the “I AM” card and the “Super Smart
Card” system. These systems provide companies and organizations with
various features including protection from criminal and terrorist threats,
preventing ID and payment fraud and preventing identity theft.
Customers in Cyprus and Malta cardholders have experienced no problems with
SEPA technology migration, over a national “clear” MasterCard system,
the alignment efforts led by MasterCard’s Gobal Technology Operations (GTO)
team. This means banks in the respective countries have made the transition
and can now conduct authorization, clearing and settlement processes on
platform, thus, allowing the transmission of payments with the same
rights and obligations as the rest of the countries implementing SEPA. This
development comes on the heels of the 2 countries’ national currency
the Euro, joining the other 29 European countries.
Mobilians International and NHN USA have signed agreements to
launch an online gaming payment service, in conjunction with PaymentOne,
for NHN customers. With this development, the phone-based payment
gateway will allow users to charge gaming items and subscriptions to their
phone bill. Furthermore, this is part of an effort to expand business in
United States market, particularly for the 14-30 year old demographic.
Mobilians International is a secure mobile payments and e-commerce
company that partners with billing providers while NHN USA is a multi-
national search engine-based portal that provides multiple Internet games.
NJ-based Asta Funding reported fourth quarter revenues of $34.2 million, a 33.4% increase compared to 4Q/06. The Company says its cash collections slowed during the quarter due to a challenging economic environment. Net cash collections from consumer receivables acquired for liquidation was $50.1 million for the first quarter, up 19.6% from $41.9 million in the prior year’s quarter. Cash collections represented by account sales were $7.8 million for the first quarter, or 13.5% of net cash collections in the quarter, down from $17.1 million (or 29.0% of net cash collections) in the first quarter of fiscal 2007. Total collections were $57.9 million for the first quarter, down from $59.0 million in the first quarter of fiscal 2007. For complete details on Asta Fundings’ latest results visit CardData (www.carddata.com).Details
Millenicom prepaid phone solution provider will now provide its services
using the DIGITALK “Media Application Server” (MAS) platform. With
this development, the multi-service platform will afford the German prepaid
company value added, IP-based features and applications, such as a web-
based virtual calling card and VoIP service. DIGITALK currently has over
1200 service platforms worldwide, over 400 client customers and offices
around the world while Millenicom Turkey, subsidiary of European
Telecommunication Holding AG, provides service at over 17 POP locations
in 13different cities, has a total transmission capacity of nearly 70
minutes per month and was established toward the end of 2007.
Neowave and ASK have signed distribution agreements for the distribution
of contactless “Smart Objects” for the mass transit market. The agreements
stipulate that ASK will distribute the Weneo range of “Neowave Smart
Objects” to provide portable, secure devices to provide connectivity to
PC and Web platforms. Moreover, in the mass transit market, the
contactless devices will provide on-line token reloading, on-line profile,
direct access to operators websites and secure data mass storage. ASK
provides 100 million contactless products to customers around the world
while Neowave software provides Smart Objects, with direct web and
PC connectivity, in a range of industries.
Secured Financial Network and Blue Bamboo USA have partnered for
the launch of Blue Bamboo’s wireless “H-50 terminal” and the “P-25M
Bluetooth” printer. Using SFN’s RedFin Payment Gateway, the new
components allow transactions processing through Blackberry wireless
devices with various carriers. Secured Financial Network provides
processing for e-commerce and traditional transactions and has plans to
eventually introduce a mobile ATM solution while Blue Bamboo designs
upgrade products for POS terminals.