Trustcash Holdings, NY-based online payment system, has signed an agreement with Adult Entertainment Broadcast Network (AEBN) to offer Trustcash on the AEBN web site. AEBN streams over 50,000 full-length movies from over 1,300 different studios with more than 600 new titles added to its system each week providing adult content entertainment to thousands of satisfied customers. With its unique pay-per-minute system and the absence of membership fees, AEBN offers the adult entertainment consumer maximum flexibility. Trustcash developed a business based on the sale of a stored value card (both virtual and physical) that can be used by consumers to make secure and anonymous purchases on the Internet without disclosing their credit card or personal information.Details
Retail Decisions (ReD) and Unisys China (Unisys) have signed agreements to
implement ReD’s Fraud Prevention solution, “PRISM,” for China UnionPay
Data Co(CUP), a Chinese bankcard processor for 16 of the country’s 29
card-issuing banks. The partnership will provide CUP with real-time fraud
prevention and a control solution with project management and systems
integration services provided by Unisys. This will reduce CUP’s fraud
improve customer service and improve operational efficiency. ReD payment
card issuer and card fraud preventer has over 19 years of experience in the
market. Operating in over 100 countries, Unisys has provided IT business
solutions since 1971 and provides IT services for more than 100 companies,
primarily in financial services. CUP was established in 2003 to provide
with processing services.
Payday lender Advance America, Cash Advance Centers has decided to close 31 centers in Pennsylvania, 45 centers in Oregon, and 27 underperforming centers in various other states. In July, the Company announced that the Commonwealth Court of Pennsylvania issued a ruling directing the Company’s subsidiary in Pennsylvania to immediately suspend its current operations and discontinue its “Choice Line of Credit”. As a result of the Commonwealth Court’s ruling, the Company immediately ceased providing its line of credit in Pennsylvania. The Company has decided to close 31 of its 98 centers in Pennsylvania but maintain leases on the remaining 67 centers while it evaluates alternatives to service customers in that state. The Company expects to make a decision regarding the balance of the Pennsylvania centers over the next several months. The Company expects to write-down most of the value of its receivables in Pennsylvania and Oregon and accrue for the anticipated costs of closing the centers in Pennsylvania, Oregon, and the 27 underperforming centers, including lease termination costs and employee severance.Details
Telekurs has announced its acquisition of payment service provider, 3C
Communications from Tele2. The 3C Group provides payment solutions
for hotels/restaurants, parking facilities/ticket machines and e-commerce
processing over 50 million transactions annually with around 40 employees.
The payment service provider processes transactions on a flexible EMV-
compliant infrastructure and is Telekurs 2nd acquisition of the year.
Australians set two records as credit card debt and transaction volume set new highs in July. Credit card debt climbed to A$41.0 billion. Credit card volume also soared by A$1 billion over the previous month. Credit card debt rose 12%, compared to July 2006. Credit card limits also reached a new high at A$108.7 billion, marking the eleventh consecutive month of A$100+ billion. Card volume was A$17.5 billion during July, compared to a previous record of A$17.4 billion set in May, according to the Reserve Bank of Australia. One-year ago credit card debt stood at A$36.7 billion. There are currently 13.6 million credit card and charge card accounts in Australia, compared to 13.1 million one-year ago.Details
Metavante Bank and Monitise Mobile payment service have joined for
the introduction of “Monitise Americas LLC” mobile banking solution to
launch in late 2007. The solution will be made available to American
customers of banks for balance inquiries, mini-statements, funds transfers,
cell phone top-ups and payments. With over 233 million American cell
phone users, the Monitise “Americas” has compatibility with most mobile
handsets, connects through ATM networks, and allows financial institutions
to deliver mobile banking and payment services. The solution was designed
to allow banking customers the convenience of an ATM on their mobile
handset specifically for the North American mobile banking and payments
market. Metavante Corporation provides account processing solutions to
8,600 financial services firms and businesses worldwide. Monitise plc is a
specialist in mobile banking and payments technology.
The latest economic indicators are pointing to slower growth in the months ahead. The Conference Board’s “Composite Index of Leading Economic Indicators” declined 60 basis points in August, following a 70 basis points increase in July, and a 10 basis points decrease in June. The CB says the loss of household assets, if combined with weak employment growth, could have a negative impact on consumer spending going forward. Also, business confidence has been edging lower for some time. However, one of the ten indicators that make up the leading index increased in August. The positive contributor was real money supply.Details
Credit card debt climbed again in July setting a new record of A$41.0 billion. Credit card volume also soared by A$1 billion over the previous month. Credit card debt rose 12%, compared to July 2006. Credit card limits also reached a new high at A$108.7 billion, marking the eleventh consecutive month of A$100+ billion. Card volume was A$17.5 billion during July, compared to a previous record of A$17.4 billion set in May, according to the Reserve Bank of Australia. One-year ago credit card debt stood at A$36.7 billion. There are currently 13.6 million credit card and charge card accounts in Australia, compared to 13.1 million one-year ago.Details
Total holiday retail sales are expected to increase this year but at a slower pace than 2006. The figure is expected to hit $474.5 billion, a 4% increase over last year. The National Retail Federation says holiday sales in 2006 rose 5%. Over the last ten years, the average percentage increase in sales for the holiday season is 4.8%. The NRF notes this would represent the slowest holiday sales growth since 2002, when sales rose 1.3%. One-fifth of retail industry sales occur during the holiday season. The NRF says retailers most affected by the economy this year will be those catering to the low to middle income consumer. This could also spell trouble for discounters and some department stores whose shoppers may be looking to trade down. The NRF represents more than 1.6 million U.S. retail establishments.
HOLIDAY RETAIL SALES
2000: $352.2 billion
2001: $364.1 billion
2002: $368.8 billion
2003: $387.2 billion
2004: $410.5 billion
2005: $435.6 billion
2006: $457.4 billion
2007: $474.5 billion
Source: National Retail Federation
American Express and John Lewis retailers have signed a card acceptance
agreement allowing cardholders to make purchases at all of the retailer’s
locations, on the website and through the John Lewis mail order catalog.
The agreement is the result of research suggesting that the customer
of both businesses are synonymous and that the retail products that John
Lewis offers appeals to the majority of American Express customers. Also,
with this agreement, the two entities plan to develop customer loyalty and
discount programs driving revenue for either side.
American Express announced that actress, singer and fashion designer BeyoncÃÂ© Knowles will join the company’s “Are you a Cardmember?” campaign. Knowles’ national campaign currently features a print advertisement shot by legendary photographer Annie Leibovitz. The television spot grants viewers a behind the scenes pass to follow Knowles’ hectic life on tour, a whirlwind schedule taking her from photo shoot to dance rehearsal to press conference all in a day’s work. The fast-paced spot captures her real life struggle to balance between her career and her family. Launched in April this year, the “Are you a Cardmember?” campaign features extraordinary Cardmembers, telling their stories, while illustrating the benefits and services of being an American Express Cardmember. The campaign to date has featured tennis great John McEnroe, professional snowboarder and skateboarder Shaun White, comedian and television personality Tina Fey and comedian Larry David.Details
Chongquing Mobile has selected the
INSIDE Contactless “MicroRead” NFC platform for its contactless
mobile payment deployment. Using the People’s Bank of China standard
payment application, information is stored on the phone’s SIM card and
was chosen for deployment because of its features that allow Chinese
operators to deploy applications rapidly. Chongquing also decided to
deploy this NFC solution due its ability to establish secure connections
over a diverse number of applications including ticketing, payments, retail
transactions and various others. Furthermore, the “MicroRead”
“battery off” mode enables NFC and SIM power generated from the
antenna RF field to conduct transactions regardless of phone power supply.
INSIDE Contactless currently has 56 patents in the NFC industry with
over 20 million chip platforms and nearly 12 leading bank card issuers.
Chongqing Mobile works with 285 companies in 216 countries and
territories, has 126 operators in 135 countries and territories and has over
10 million subscribers.