Chargeback File has launched an online chargeback history database. With the new solution, retailers and merchants are afforded the knowledge of historical charge-backs and the illegal activity of billers, websites and message forums complete with emails and usernames, for a monthly charge of $4.95. The database currently holds adverse records of nearly 5 million and has over 60 million data points. The chargeback history data includes email addresses, known spammers, third-party billers, phone numbers, credit card chargebacks, auction usernames, and message forum usernames.Details
NCR has introduced NCR SelfServ, a family of innovative automated teller machines with first-of-its-kind, self-healing technology. Offered in both cash-dispensing and full-function lines, NCR SelfServ enables a proactive approach to service and network management. This “ATM with a heartbeat” uniquely features a service application to address the impact of bank staff and cash-in-transit turnover; the most flexible servicing footprint across any single ATM family; a highly accessible and consistent user interface and an increased capacity for consumables, helping to ensure receipt availability. Because these ATMs require less human intervention, staffs gain time for serving and satisfying the end customer. NCR helps consumers conduct more than 23 billion transactions a year through more than 600,000 NCR touch points.Details
VISA Inc. announces the completion of its restructuring, having received broad member approval for the series of transactions by which VISA Canada, VISA U.S.A. and VISA International have become subsidiaries of VISA Inc. Discover Financial Services “PULSE” launches its new neural network based fraud detection system across its entire network, following a three-month beta development program involving several financial institutions. The J.D. Power and Associates “2007 Credit Card Satisfaction Study” finds that Citi, Chase and U.S. Bank top the rankings. Houston-based Paymetric releases “XiPayNet” that manages the payment card acceptance workflow. The Office of Thrift Supervision announces that it closed the Atlanta-based $2.5 billion NetBank and appointed the FDIC as receiver. TSYS and Discover Financial Services inked an issuer processor agreement. Chase Paymentech signs an expanded, multi-year contract to provide payment processing services for all Sears’ retail businesses, which include Sears, Kmart and Lands’ End. Fair Isaac introduces “Collection Scores.” Bank of America re-launches the original “BankAmericard” credit card. Chase, Continental Airlines, General Motors and MasterCard have teamed to launch “MasterCard World for Business” credit cards. First Data acquires Canada’s POSTNET. About 10,000 New York City taxi drivers strike over new rules that require then to install credit card readers and GPS technology in their medallion cabs by October 1st. GA-based Synovus’ Board of Directors approves an agreement and plan of distribution for a TSYS spin-off.Details
Fair Isaac and IBM have entered into a strategic alliance to develop financial service solutions. The agreement includes joint development, marketing, and sales of service oriented architecture (SOA)-based financial services solutions. Fair Isaac will lead with IBM Global Business Services on systems integration for clients as part of its shared services delivery model. Additionally, Fair Isaac will embed and use IBM middleware including WebSphere, DB2, Rational tools and Lotus software as the foundation of its next generation “Enterprise Decision Management solutions. As a result, financial services clients using Fair Isaacâs new EDM suite, which also contains the industry-leading “Blaze Advisor” business rules management system and predictive modeling tool, Model Builder, will be able to take advantage of SOA and Information on Demand software. This will allow data sharing across multiple applications including account opening, customer management, account management, fraud, collections and recovery.Details
Payment terminal manufacturer Ingenico reported fourth quarter sales of
165.1 million euros compared to 131.0 million euros for 4Q/06.
During the fourth quarter Ingenico and Sagem Securite began the process
of merging their electronic payment system operations. The Company’s
North American business posted a record fourth quarter with an increase
of more than 42% in terms of sequential growth and 59.5% from last year
at constant exchange rates. This growth resulted primarily from robust
growth in sales in the U.S., related to a catching-up effect at the end
of the year in mass retailing and banks. After three relatively sluggish
quarters in Northern Europe, the Group subsequently benefited from an
increase in volumes at many financial institutions, including Barclays.
This paved the way for growth in excess of 28% in comparison with the
fourth quarter of 2006. Over the full year, consolidated revenue totaled
567.9 million euros, up 12.2% from last year and up 9.3% on a
like-for-like basis. For complete details on Ingenico’s latest results
visit CardData (www.carddata.com).
TSYS reported that fourth quarter profits declined 47% to $45.7 million due to spin-off related costs. The Company successfully completed its spin-off from Synovus on December 31st and is now a fully independent, publicly-traded company. Fourth quarter revenues of $458.5 million represented a 9% decline over 4Q/06. Total revenues in 2007 were $1.8 billion representing a 1% increase over 2006. Excluding the Bank of America termination fee of $65 million in 2006, revenues increased 5% in 2007. The Company expects total revenues will increase 7% to 9% this year. For complete details on TSYS fourth quarter performance, visit CardData ([www.carddata.com]).
TSYS REVENUE HISTORICAL
4Q/05: $420.7 million
1Q/06: $412.3 million
2Q/06: $429.2 million
3Q/06: $441.8 million
4Q/06: $503.9 million
1Q/07: $429.6 million
2Q/07: $460.2 million
3Q/07: $457.6 million
4Q/07: $458.5 million
Source: CardData (www.carddata.com)
A new survey of 28,000 taypayers has found that more than 87% paid their taxes with a payment cards because it was convenient and easy to use and/or they were running out of time. About 3% indicated they ignored the advice of personal finance advisors, using the service for short term financing. The research from Metavante’s “LINK2GOV” payment service also found that 84% were likely to use the service again. LINK2GOV isn’t the longest tenured IRS payments partner, in 2007 it acquired more than half of all federal tax payments initiated with credit and debit cards. The service has generated additional electronic transactions for the IRS at a compounded annual transaction growth rate of nearly 65% since entering into its IRS relationship in 2003.Details
Payment terminal manufacturer Ingenico reported fourth quarter sales of $242.9 million compared to $192.8 million for 4Q/06. During the fourth quarter Ingenico and Sagem Securite began the process of merging their electronic payment system operations. The Company’s North American business posted a record fourth quarter with an increase of more than 42% in terms of sequential growth and 59.5% from last year at constant exchange rates. This growth resulted primarily from robust growth in sales in the U.S., related to a catching-up effect at the end of the year in mass retailing and banks. After three relatively sluggish quarters in Northern Europe, the Group subsequently benefited from an increase in volumes at many financial institutions, including Barclays. This paved the way for growth in excess of 28% in comparison with the fourth quarter of 2006. Over the full year, consolidated revenue totaled $836 million, up 12.2% from last year and up 9.3% on a like-for-like basis. For complete details on Ingenico’s latest results visit CardData ([www.carddata.com]).
4Q/06: $192.8 million
1Q/07: $174.9 million
2Q/07: $207.7 million
3Q/07: $209.9 million
4Q/07: $242.9 million
Source: CardData (www.carddata.com)
According to the most recent, 11th annual PricewaterhouseCoopers’
“Global CEO Survey”, U.S. CEOs have the least optimistic perspective
regarding revenue growth for 2008, but are most optimistic given a
long-term perspective. Citing a tumultuous credit market, poor financial
exchanges and recession fears, only 36% of U.S. CEOs are confident
in corporate performance for 2008, compared to a global average of
50%. Given a 3-year time-frame, however, 49% of U.S. CEOs are
“very confident” in revenue growth compared to, a much lower, 42%
global average. Additional findings of the “Global CEO Survey” show a
mere 52% of American companies value the importance of climate change
issues, compared with the 72% global average, and only 23% disclosed
investment of “significant resources” in climate change efforts, compared
to a 37% global average. Furthermore, 63% U.S. CEOs expressed the
need for government intervention in climate issues, compared to 82% of
CEOs worldwide. PricewaterhouseCoopers provides industry advisory
with over 146,000 executives in 150 countries across the world.
Axis Bank has announced it will be beta testing a mobile phone payment
solution with 500 customers for full functionality after 3 months. With
this solution, customers are able to conduct payment transactions using
their cell phone in much the same way a credit card would be used.
Atom Technologies is the organization overseeing the Multi Commodity
Exchange of India to enable mobile payments. With this, the company
has developed such products as the Atom card to embed credit card
data for the payment solution and securely store card details and
provide PIN compatibility.
Capital One’s fourth quarter U.S. credit card profits increased nearly 55% year-on-year, but declined about 7% sequentially. Purchase volume in the U.S. remained flat while U.S. managed card outstandings decreased 3% from the year-ago quarter. The number of U.S. card accounts declined by about 50,000 during the quarter, and remained down from the year-on-year figure of 37.6 million accounts. U.S. card net income was $521.9 million, compared to $560.8 million in the prior quarter and $337.2 million for 4Q/06. U.S. managed card outstandings were $52.1 billion for 4Q/07 compared to $53.6 billion one-year ago and $49.6 billion in the previous quarter. Cap One says loan growth was affected by a reduction in marketing of teaser rates to prime customers, and a $600 million portfolio sale in the first quarter. Purchase volume hit $22.9 billion for 4Q/07, compared to $21.5 billion for 3Q/07 and $22.8 billion for 4Q/06. The managed delinquency rate (30+ days) for U.S. credit cards was 4.95% for the fourth quarter, compared to 4.46% for 3Q/07 and 3.74% for the fourth quarter of 2006. The net charge-off rate for U.S. credit cards was 5.40% for the fourth quarter, compared to 4.13% for the third quarter and 3.82% one-year ago. Cap One expects the U.S. Card managed charge-off rate to be in the mid-6% range in the first half of 2008. For complete details on Capital One’s fourth quarter performance, visit CardData ([www.carddata.com]).
COF U.S. CARD NET INCOME
4Q/06: $337.2 million
1Q/07: $495.3 million
2Q/07: $538.3 million
3Q/07: $560.8 million
4Q/07: $521.9 million
Source: CardData (www.carddata.com)
ICICI Bank and C-SAM have launched the “iMobile” mobile banking
solution to allow customers to bank from their mobile phones. The
Mobile Transaction Platform provides an icon based interface, which makes
for easy customer use, providing 40 different services such as banking,
fund transfer, credit card services and bill payments, among others.
Moreover, the new solution will aid the bank in acquiring new
customers, reduce customer support costs, and generate new revenue
streams. “iMobile” operates on GPRS and SMS networks and has
immense growth potential with an Indian mobile consumer population
of nearly 200 million subscribers. ICICI Bank has assets of nearly
Rs. 3649.44 billion and operates in the retail banking market with a
network of over 950 branches and 3,680 ATMs.