Continental and GM Launch Biz MasterCards

Chase, Continental Airlines, General Motors and MasterCard have teamed to launch the first-ever “MasterCard World for Business” credit cards. The new “Continental Airlines World MasterCard for Business” card and the “GM Business Card World MasterCard” offer no limits on rewards. The new “Continental Airlines World MasterCard for Business” awards double “OnePass” miles for ticket purchases made directly from Continental Airlines, as well as on dining, gas and office supply store purchases. In addition, cardholders will earn one “OnePass” mile for every dollar spent on all other card purchases. The new “GM Business Card World MasterCard” offers three percent on fuel at the pump, dining, office supply stores, GM dealers’ parts, GM dealers’ services and one percent for all other card purchases.” Earnings can be applied toward the purchase or lease of more than 80 eligible GM vehicles at any time, and can be used with most other GM incentives. Beginning today and continuing through December 31st, any time “GM Business Card World MasterCard” cardholders use their card to make a purchase, they will be automatically entered for a chance to win a new 2008 Escalade.

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SMARTPAY JIEYIN PAYMENT AWARD

SmartPay Jieyin Ltd has been awarded the “Golden Olive” at the 2nd annual
China Mobile Phone Application Conference in recognition of its mobile
payment application. The “Golden Olive Award” is given to the nominee with
the Best Mobile Payment Application regarding technical innovation,
competitive business advantages and growth potential. The decision was
based on the results of online public voting and a panel of 100 industry
experts
and venture capitalists. SmartPay Jieyin is used by the Chinese for
mobile, utility,
and travel-related payments and is funded with investments from RRE
Ventures,
Evolution Capital, Lunar Group Capital and Accel Partners, among others.

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Mercury Payment Systems and Datacap Team

CO-based Mercury Payment Systems and Datacap Systems have teamed to release a full suite of plug and play products to help merchants improve payment processing performance. The product suite for Mercury includes Datacap’s “NoLoad IPTran” for high-speed Internet protocol processing, “NoLoad DataTran” for dial-up payment processing, and “NoLoad TwinTran” for IP processing with automatic dial backup in case the Internet connection fails. Mercury’s integrated payment processing solutions enable value-added services for merchants, such as free online transaction reporting with batch and deposit details, free 24/7 live customer and technical support and free “MercuryGift” card transactions.

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PBC CARDS

In response to a lacking rural remittance system, The People’s Bank of
China has launched a bank card service that targets the 120 million rural
migrant workers. In 14 provinces, the service connects rural and urban
banks providing safe cash access for the workers. The service allows the
workers to withdraw money from their rural local bank, their funds
deposited in banks near their place of employment, usually in urban
centers. This is a safer and more efficient alternative to the rural
remittance
system which often did not operate properly, did not provide rapid money
transfer and forced many workers to carry cash on their person for the
commute homeward. With a monthly rise of 24.7% since the pilot
introduction in 2005, workers have transferred over 1.02 billion yuan
between banks with the card service.

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ORCC and Postilion Renew Bill Payment Deal

VA-based Online Resources has renewed a multi-year reseller agreement with Postilion for bill payment services. Clients that choose Online Resources for bill payment will now benefit from the company’s “Biller Network and Real-Time Digital Scanline” technologies, which together generate the highest electronic and lowest claims rates in the industry. Online Resources powers financial technology services for thousands of financial institutions, billers and credit service providers. Postilion, a division of S1 Corporation, is a provider of integrated solutions for self-service banking and payment processing.

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FDC & POSTNET

First Data has announced its acquisition of POSTNET, which
provides merchant acquiring and payment processing for all forms of
payment across Canada. Furthermore, POSTNET provides
merchants with POS solutions, internet payments, emerging payments,
authorization, settlement, reconciliation, chargeback administration,
fraud prevention, reporting management and customer service. First
Data is intent on providing POSTNET with expansion in the
Canadian market with its acquisition of the company. First Data has
operations in 38 countries, serving over 5 million merchant locations for
1,900 card issuers and customers. Also, the commerce service provider
offers PIN-secured debit acceptance at 2 million ATM and retail locations
through its STAR Network.

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Springbok Services Hires a MasterCard Exec

Prepaid provider Springbok Services has hired Michael Ross, previously VP of prepaid products North America for MasterCard Worldwide, as SVP of sales. At MasterCard, he was responsible for the U.S. and Canada go-to-market strategy and product commercialization across MasterCard’s portfolio of prepaid products. Ross also held the position of vice president of emerging markets, and led the sales and business development of corporate prepaid solutions at MasterCard, within the corporate prepaid segment. Before joining MasterCard, Ross held sales and marketing positions specializing in branding, customer retention and new product launches, working with global companies including General Motors, Toyota and Harman International.

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ALLIANCE & LEICESTER ATMs

Alliance & Leicester will be installing NCR’s “No Envelope”,
“Personas Intelligent” ATMs at all of the stores’ 250 branches. The NCR
“Personas Intelligent” ATMs utilize intelligent deposit technology and
requires
no envelope for cash, which can reduce queuing at the teller by up to 40%.
Furthermore, up to 200 banknotes can be inserted into the ATM during a
transaction and allows cash deposits to credit to the customers account
immediately while customers that deposit checks are given a receipt
displaying
an image of the respective deposit. In addition, the ATM does have
traditional
functionalities such as withdrawal and balance disclosure. The ATMs will be
installed using NCR “APTRA” self-service software. NCR’s assisted- and
self-service solutions are available to a variety of sectors in over 100
countries.

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BB&T Teams with ClairMail and mFoundry

BB&T has teamed with ClairMail of Novato, CA and mFoundry of Sausalito, CA to offer mobile banking services . Under the terms of the partnership, the companies will co-market and sell an enhanced, combined solution which integrates the ClairMail System’s mobile banking and payments platform and applications with mFoundry’s Spotlight client-based application. BB&T’s three-phase rollout of the new service is set to begin next month and is expected to be completed in the first quarter when a full menu of mobile banking options will be available to BB&T clients. The services include two-way mobile messaging, mobile Web access and mobile banking applications. BB&T holds $127.6 billion in assets and more than 1,500 financial centers in 11 states. mFoundry is an award-winning mobile application platform provider. ClairMail optimizes any mobile phone for two-way customer interaction.

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WESTERN UNION & WAL-MART

Western Union(WU) has signed agreements with Wal-Mart retail outlets to
provide money remittance and WU’s “Quick Collect” services at the
department stores throughout Canada. The “Quick Collect” solution allows
customers to send payments for mortgages, credit-card bills, auto loans and
personal loans with cash or debit cards. Additionally, WU allows funds
remittance to over 200 countries through more than 312,000 Agent locations.
First established in Mississauga, Ontario, Wal-Mart Canada operates a
network of 293 outlets across the country and employs more than 70,000.

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Chase Q3 Credit Card Profits Rise 11% Y/Y

J.P. Morgan Chase reported this morning that third quarter credit card profits rose 11% year-on-year to $786 million, compared to $759 million in the prior quarter and $711 million in the year-ago quarter. End-of-period managed loans of $149 billion increased by 4% year-on-year. Charge volume of $89.8 billion increased by 3% from the prior year. Net accounts opened during the quarter were nearly four million. Merchant processing volume of $181.4 billion increased by $1.7 billion from the prior quarter and up 8% from the prior year. Net interest income was $3.1 billion, up by $224 million, or 8%, from the prior year. The increase in net interest income was driven by an increased level of fees and higher average loan balances. These benefits were offset partially by the discontinuation of certain billing practices (including the elimination of certain over-limit fees and the two-cycle billing method for calculating finance charges) and a narrower loan spread. Noninterest revenue was $759 million, flat compared with the prior year. Increased net interchange income, which benefited from higher charge volume, was offset by lower net securitization gains. Charge volume growth of 3% reflects an approximate 10% growth rate in sales volume, offset primarily by a lower level of balance transfers, the result of a more targeted marketing effort. For complete details on Chase’s third quarter performance, visit CardData ([www.carddata.com][1]).

JPM CHASE HISTORICAL ($billions)
3Q/06 4Q/06 1Q/07 2Q/07 3Q/07
EOP Outstandings: $143.8 152.8 146.6 148.0 149.1
Charge Volume: $ 87.5 93.4 81.3 88.0 89.8
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

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ZOOM AIRLINES & GUESTLOGIX

Zoom Airlines has implemented GuestLogix “Mobile Virtual Store” for
Transatlantic flights to allow cash and card transaction processing while
in flight. The airline and its passengers will be provided point-of-sale
wireless handheld devices using web-provisioned software from
GuestLogix, Gatwick Express train tickets for on-demand ticket printing
while in flight, credit card handling, inventory control and sales
analysis. The decision to launch the Virtual Mobile Store was made based on
projections that 20% of airline profits will come from on-board retail
sales
in the near future, based on contemporary figures. The “Mobile Virtual
Store” is available on nearly 300 million passenger trips annually
providing
airlines with an additional channel of profitability through various
consumer
items and services. GuestLogix is publicly traded on the Canadian stock
market and major provider of on-board retail solutions.

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