Chase Adds More Flexibility to Freedom Card

Chase Card Services beefed-up its “Chase Freedom” credit cards offering triple rewards that are automatically adjusted based on consumers’ actual, month-to-month, everyday spending patterns. Chase says the card, launched one-year ago, is its most successful proprietary card released to-date. Under the program customers have the freedom to choose and change between cash back and reward points. “Chase Freedom” customers earn triple cash back or reward points in their top three of 15 everyday categories, including: gas stations/convenience stores; grocery stores; department stores; drug stores; fast food and quick service restaurants; movie theaters; movie rentals; dry cleaners; health clubs &. gym memberships; beauty salons and spas; pet supply stores and veterinarians; mass transit and local commuter expenses; telecommunications; utilities; and cable/satellite TV and Internet bills. Chase Freedom is also blink-enabled.

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WINCOR NIXDORF ATMS

Wincor Nixdorf has begun producing an ATM mostly developed in
Singapore, hailing the company’s global expansion. With this, the
company is also projecting a net sales growth in Africa, Asia and
the Pacific regions from 286 Million USD by 30%, for the up-coming
fiscal year. Because Asia is Wincor Nixdorf’s fastest growing market for
hardware, software and service, the company will be the first in the
market to expand operations into India as of October 1st, 2007. The
company sees this strategy as a means of getting a jump on the
competition and thus a higher market share.

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New Firm Introduces IdentityTruth.com

MA-based IdentityTruth has launched an all-encompassing service that provides consumers with the earliest possible notification in advance of a potential identity misuse. “IdentityTruth.com” reviews billions of data points from many different sources, well beyond credit cards alone, to notify consumers in advance of potential identity misuses so they can take control. IdentityTruth combines in real-time detected suspicious activities, fraud schemes, credit requests, related data breaches, and the individual’s specific profile to offer a more complete picture of a consumer’s identity risk. It reports suspicious events in the past, predicts possible frauds that could impact the individual in the future, delivers on-going alerts about any changes to the individual’s credit and identity profile, and reports on any related regionalized data breach that could have impacted the individual’s identity. the company is charging $9.99 per month for its premium service. IdentityTruth investors include Argonaut Ventures and Stata Venture Partners.

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VoyenceControl PCI Advisor Rolls-Out

Richardson, TX-based Voyence has rolled-out its first product in a new “Compliance Advisory Series.” “VoyenceControl PCI Advisor” ensures that network devices adhere to the “Payment Card Industry Data Security Standard.” VoyenceControl automatically maps change and configuration data to each PCI mandate for a clear view into compliance of the state of network behavior. The new offering also eases audits with in-depth reports detailing how network devices adhere to each PCI DSS requirement. Voyence also has been accepted as a “Participating Organization” of the “PCI Security Standards Council.”

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Datacard Rolls-Out the Artista VHD Module

MN-based Datacard Group announced the “Artista VHD” re-transfer color printing module for its “MX6000” card issuance system,, which delivers full-color card printing with 600 dpi image quality inline with an array of advanced card personalization capabilities, and 1,500 cards per hour. On-demand color card printing effectively eliminates the need to preprint cards – a process that can consume weeks of valuable production time. With this module, issuers can load blank white cards into the MX6000 system and rapidly produce an entire run of individually distinct cards just as quickly as the same size batch of identical cards. Datacard Group offers the world’s best-selling secure ID and card personalization solutions.

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Target Credit Cards Get a Credit Downgrade

NY-based Fitch Ratings reports it has placed Target’s credit ratings on “Rating Watch Negative” after the Company announced plans to divest its credit card portfolio. These actions follow the company’s announcement that it will review ownership alternatives for its credit card receivables as well as re-evaluate its use of debt in its capital structure and its pace of current and future share repurchases. Target has retained Goldman Sachs as its advisor and expects to complete these reviews by the end of December 2007.Fitch views these actions as a possible shift in its financial strategy. Of importance in resolving the Rating Watch Negative will be the amount and use of proceeds from a sale of the credit card receivables portfolio, the terms of any on-going agreement between Target and the potential acquirer and the changes in the company’s capital structure.

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PayPass Spreads to Credit Union Issuers

MasterCard’s “PayPass” contactless technology has passed the 16 million milestone for its “PayPass” cards and devices issued globally, and is now accepted at more than 55,000 merchant locations. Today, Harvard University Employees Credit Union has begun issuing “Debit MasterCard” cards enabled with the “PayPass” payment functionality. This is the first credit union to announce that it is issuing “PayPass”-enabled payment cards. Metavante is the processor for Harvard University Employees Credit Union. Last week, MasterCard announced that specialty retailer PETCO Animal Supplies agreed to accept “MasterCard PayPass” at all of its nearly 900 stores in the USA.

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TransUnion Finds Parental Concern Over Debt

Chicago-based TransUnion recently commissioned Zoomerang to survey two distinct groups of consumers about the age-group’s debt management skills and found that 63% of parents surveyed say they are “concerned” or “very concerned” about their 18-24 year-old children’s ability to manage debt and that 54% of young adults in this age range also say they are “concerned” or “very concerned” about their own debt management abilities. Among the parents surveyed, some of the common concerns expressed include: children expecting too much too soon and the future implications of their credit management. For the young adults, issues include: paying back student loans and the ability to buy a home. This study was conducted in partnership with “MarketTools”, a leading research organization, using their Zoomerang online survey software and nationally representative consumer panel that consists of over 3 million opt-in participants in the United States. TransUnion’s TrueCredit.com has helped millions of consumers manage their own credit health.

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Experian Launches a Business Credit Website

Experian announced the launch of a new online resource designed to help small-business owners gain a greater understanding of the many topics dealing with business credit. BusinessCreditFacts.com offers a question-and-answer section containing information on establishing business credit, the credit information available on a business credit report and how best to maintain good business credit; tools to submit requests to update a company’s demographic information; links allowing small-business owners direct access to a business credit report and score and to sign up for continuous monitoring of their business credit file; and tools to enable small-business owners to “write their suppliers” and encourage them to report their payment experiences. BusinessCreditFacts.com utilizes “Precise ID,” Experian’s consumer authentication tool, to verify the identity of business owners.

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VASCO JAPAN

Citing various reasons, VASCO Data Securities International has
recently opened a sales support office in Tokyo, Japan. Fundamental
to this strategic development is the new office location in the
country’s financial, government and economic center. Additionally,
Japan is an international high-tech hub with an established Internet
banking channel. Because the Internet is heavily trafficked by the
Japanese population, the company sees this as a strong market for its
authentication products which are designed to protect consumers’
identities.

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Barclaycard Launches a Super Card in the UK

Barclaycard and Transport for London, in partnership with TranSys, has launched a new 3-in-1 payment card that combines the “Oyster” mass transit card with a contactless VISA credit card. The new “OnePulse VISA” will target 10 million “Oyster” cardholders. The new card will have three functions: “Oyster Card,” “Chip and PIN,” and contactless. HSBC, HBOS, Lloyds TSB, and Barclays all indicated they will launch contactless payments by year’s end. VISA is currently introducing contactless facilities at retailers in Canary Wharf, Liverpool Street, Moorgate, Fenchurch Street, London Bridge, Charing Cross and Waterloo Stations. Over 1,000 London retailers have agreed to implement Barclaycard’s cashless payment technology.

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