IDT, UTA and CVT Settle a Prepaid Lawsuit

Prepaid calling card companies IDT Telecom and Union Telecard Alliance have reached a private settlement of the lawsuit brought by IDT and UTA against CVT Prepaid Solutions. Pursuant to the settlement agreement, CVT has agreed to continue its current practice of delivering 100% of minutes of telecommunications time stated to consumers in its voice prompts and advertising. IDT and UTA will similarly continue such practices. IDT Corporation is a multinational company with operations that span various industries. CVT Prepaid Solutions is a provider of enhanced prepaid solutions.

Details

MasterCard Unveils a Prepaid Travel Card

MasterCard has introduced the first prepaid travel card with contactless technology. The new “MasterCard Travel Card” is a collaboration with SSB Payment Systems and is being offered via Airlines Reporting Corporation’s network of 20,000 U.S. travel agent locations. The new prepaid card is enhanced with “MasterCard PayPass” technology. “PayPass” is currently accepted globally at more than 73,000 merchant locations. Card benefits include emergency traveler assistance, lost luggage insurance, purchase assurance and zero liability protection for unauthorized transactions in the event the card is lost or stolen. MasterCard notes that the travel card market in North America is estimated to grow to nearly $9 billion in gross dollar volume by 2010, according to Independent Research commissioned by MasterCard Worldwide in April.

Details

Colorado Card Plant Uses 100% Wind Power

While several U.S. issuers and U.K. issuers have launched “green” credit cards, one card manufacturer has taken it to the next level. CPI Card Group has expanded its “green” manufacturing initiative by using wind power to runs its Colorado plant. CPI is the first and only card manufacturer in the U.S. to specify that 100% of its electricity be generated through wind power. Under a deal with Xcel Energy, CPI has agreed to buy approximately 296 megawatts of electricity through the “Windsource” program. CPI says the wind power initiative is consistent with its environmental policies, including promoting biodegradable card stock, recycling materials used in the manufacturing process, printing with UV inks that are not solvent based, and using water-based silkscreen inks that do not generate VOCs. CPI offers a wide range of plastic cards from foil cards and holograms, to translucent and smart cards.

Details

Phishing Attacks Soar Around Thanksgiving

Cyveillance announced that Thanksgiving saw a 300% increase in phishing threats compared to the average number of phishing attacks seen in the previous week. This one day spike is a tactic used by criminals around long holiday weekends, often targeting smaller businesses and credit unions, which may not have around-the-clock security teams to respond to threats that occur during extended weekends. In Cyveillance’s recent fraud report, the company identified that phishers continue to heavily focus on the financial services sector, targeting banks and credit unions in nine out of 10 attacks. During the three months ending September 2007, phishing attacks against companies targeted for the first time increased 20%, led by newer blended phishing attacks that combine malware with traditional phishing techniques. Cyveillance is a provider of cyber intelligence.

Details

Pipeline Data Sets Up Two Mergers

MA-based Pipeline Data has inked deals to acquire MA-based stored value card specialist Innovative Resource Alliance and FL-based Merchant Services Network. IRA is the parent corporation of TenderCard which has more than 12,000 merchants. IRA has also initiated negotiations and executed letters of intent to purchase cash portfolios totaling approximately 15,000 merchants. Following the mergers, Pipeline Data/IRA will acquire TN-based COCARD Marketing Group a merchant services provider catering primarily to small and medium-sized retail accounts with 25,000 merchants. The agreement to acquire COCARD for approximately $101 million in cash was entered into on October 22nd. Pipeline Data has received a senior secured debt proposal of $160 million for the funding of the transactions. A closing date of no later than January 31st is anticipated. The newly combined Pipeline Data, IRA and COCARD is projected to have pro-forma 2007 revenue in excess of $95 million, gross profit in excess of $55 million and EBITDA in excess of $30 million.

Details

BofA Mobile Banking Tops 500K Users

Bank of America has reached a record 500,000 active mobile customers. Bank of America, with 23 million active online customers, introduced Mobile Banking service in March to consumers in selected markets and expanded the service across the country in May. The Web-based service is accessible via most major carriers that have mobile Internet access and requires no downloading of software. To access Mobile Banking, customers simply go to the Web browser on their mobile phone and enter http://www.bofa.mobi. Once on the site, customers enter their Online Banking ID and passcode to access their accounts.

Details

Town Square Las Vegas Card Rolls-Out

KS-based prepaid card issuer StoreFinancial and Turnberry Associates’ Town Square Las Vegas has launched its new gift card program. Gift cards are available at the Concierge Center in Town Square Park or online at www.townsquarelasvegas.com. Various gift card designs are available for the holidays and other special occasions. Turnberry Associates is one of America’s premier real estate development and property management companies. StoreFinancial is an international payments processor and prepaid card program administrator.

Details

EURONET & SMA

Euronet Worldwide and SMA grocery have signed agreements to provide
an electronic top-up service pilot to consumers. With this pilot, Euronet
will integrate its e-top-up solution with the SMA cash registers allowing
the merchant to sell mobile top-up minutes from various mobile operators.
This replaces traditional top-up scratch cards, which are easily stolen,
and
requires no additional equipment. The e-top-up solution is to be deployed
with one Italian mobile service provider by December 1st, 2007 and full
deployment with all service providers by the end of 1Q08. The Italian
mobile phone market has nearly 80 million subscribers, saw 2006 revenue
of EUR13 billion from mobile top-up minutes and experienced a 13%
growth rate for the same period.

Details

V PAY

Best Western & MBNA Canada have partnered for the launch of
the “Best Western Platinum Plus MasterCard” to provide customers
with travel rewards. These travel rewards provide cardholders points
for staying at any Best Western location and for everyday
purchases. In addition to the complimentary 5,000 GCCI points
rewarded for a customer’s first purchase, rewards are distributed as
1.5 points for every dollar in retail purchases made with the card.
Furthermore, 50 GCCI points are rewarded for each cash advance,
balance transfer and access check that totals over $50. The Best
Western franchise supports 4,200 independently owned hotels across
80 countries, hosting 400,000 on a nightly basis while the Bank of
America subsidiary, MBNA Canada, is endorsed by nearly 500
Canadian organizations.

Details

ACI Delays its Annual 10-K Filing

Electronic payment processor ACI Worldwide announced that it will postpone the filing of its Annual Report on Form 10-K for the fiscal year ending September 30, 2007. The Company has not yet completed the procedures needed to close the fiscal 2007 financial year, primarily in the areas of income taxes and internal controls testing and evaluation. This delay is a result of the compressed time frame stemming from the Company’s filing of four regulatory reports in the preceding four and half months. ACI will reschedule its earnings call for Monday, December 17, 2007 at 4.30 pm EST.

Details

SOMERFIELD & COINSTAR

The Somerfield grocer and Coinstar E-Payment have partnered to launch
the “Coinstar Gift Card” program providing consumers with an alternative
gift-giving solution. In providing customers with a versatile solution
such as
this, Somerfield expects a profitable return resulting from the
partnership.
Coinstar Limited owns and operates more than 1,300 supermarket-based
machines in the UK while Somerfield operates over 900 retail outlets for
over 9 million customers weekly and employs more than 42,000.

Details