TNB Card Services has introduced “VIP Portfolio Pro”, an easy-to-use portfolio management tool that helps credit unions’ move management of their credit card portfolios by turning processing data into decision-making information. The new portfolio management tool includes “Executive Management Report Suite,” a powerful tool that highlights key credit card ratios and trends on a daily basis; “Risk Management Report Suite,” delivers a monthly state of the business view providing key findings regarding areas of vulnerability and opportunity within the portfolio; and “Risk Operations Report Suite,” offers key information, daily and monthly, relating to credit line increases and new accounts.Details
SKB Bank is keeping with its trend of ATM network expansion in
parts of Russia. Most recently, 2 ATMs have been deployed in
Yekaterinburg which can be accessed with VISA and Union ATM
cards 24 hours a day. SKB-Bank has a network of over 200 ATMs
in Yekaterinburg, Sverdlovsk Region and is planning forward to
expansion in the Volga Region.
TD Canada has channeled the popularity of the popular social
networking website Facebook by launching an application to assist
roommates split bills, according to Finextra.com. The new application,
called “Split It,” not only helps with bill payment, but also to materialize
the outstanding balances. The application displays the status of
outstanding bills and cannot be seen by fellow users, unless otherwise
dictated by the user. The application helps users manage funds, however,
is not able to process payments online.
The Futura Loyalty Group has signed a distribution agreement with
MBNA Canada bank for the issuance of the “Futura Rewards
Mastercard” credit card. This card will be accepted wherever
MasterCard is accepted and, when used for purchases at Futura
partner retail locations or the “Futura on-line shopping mall”, rewards
double points from both the MBNA card rewards and the retailer.
Cardholders will also earn up to 2% in Futura Rewards on all eligible
net retail purchases for an annual maximum of $750 and no annual
service fee. MBNA provides financial products through out Canada
and is endorsed by nearly 500 organizations.
Economic confidence among small business owners declined in August after an uptick July. The downshift was driven by a deteriorating outlook on economic conditions for their businesses, rising insecurity about the U.S. economy and increased cash flow issues. The “Discover Small Business Watch” index dipped to 102.4, down nearly five points from July’s 107.3. Discover found that 36% of small business owners feel that economic conditions for their business are getting better, a significant decrease from 41% in July; 41% said that they have experienced cash flow issues in the last 90 days, an increase over last month’s 35%; and the percentage of business owners spending more on business development in the next six months fell from 38% to 34%.
Discover Small Business Watch
Aug 06: 100.0
Sep 06: 107.0
Oct 06: 120.0
Nov 06: 130.0
Dec 06: 109.7
Jan 07: 114.3
Feb 07: 113.4
Mar 07: 117.7
Apr 07: 110.3
May 07: 110.0
Jun 07: 102.5
Jul 07: 107.3
Aug 07: 102.4
Source: Discover Business Card
Western Union consumer money-transfer service will be available at
410 branches of Credito Familiar in 127 cities throughout Mexico
allowing remittance acceptance from agents around the world. Western
Union, Orlandi Valuta and Vigo Agent locations in Mexico is now
approximately 13,700. Credito Familiar joins the Banamex network, an
agent for Western Union and Orlandi Valuta in Mexico since 2001, which
provides Western Union services at more than 4,500 Mexico branch
locations. The Banamex has a distribution network of more than 1,450
branch offices and 5,800 ATMs located throughout Mexico. Western
Union has a network of more than 312,000 Agent locations in over 200
countries and territories.
On Track Innovations reported second quarter revenues of $10.2 million, a 1% decrease compared to 2Q/06. Gross profit of $4.4 million slipped 6% compared to the second quarter last year. OTI says it is expecting a stronger second half, with most of the growth realized towards the end of 2007. During the quarter, STMicroelectronics and OTI announced that their joint contactless solution has been certified as level 1, level 2, and Chip Assessment Security Testing (CAST) by MasterCard. Also, in Kenya OTI will provide Smart Applications International with 100,000 smart payment cards. For more details on OTI’s 2Q/07 performance visit CardData (www.carddata.com).Details
Western Union has signed agreements with EGT Holdings of Chile
to offer intra-country remittance services at nearly 500 locations.
The most significant EGT transportation provider is Tur-Bus, which
provides both interurban and tourism services in Argentina and Chile.
Western Union provides money orders through a network of more
than 312,000 Agent locations from over 200 countries and territories
around the world.
For 1H07, Bank of China has reported an operating profit of RMB 50.315
billion and a 51.7% increase in net profit from shareholders since 1H06.
The bank also reported an average equity growth of 15.18%, average
growth of 1.16% and net profit growth of 73% since the previous half. The
growth for this half was in due part to growth in net interest income
fee income. Net interest income of BOC grew 29.6% while the net interest
spread and net interest margin widened to 2.49% and 2.66%, respectively.
Non-interest income increased by 19.9% to a total of RMB17.604 billion.
The bank’s agency commission income grew by 143.3% with subsequent
growth of 72.0% in net fee and commission income. Due to the instability
of the U.S. sub-prime mortgage market, however, BOC has made
unrealized impairment loss provisions of RMB388 million and RMB758
million against certain subprime ABS and subprime CDOs, respectively.
Giftcard software provider SmartClixx has announced its “Platinum Partner Program” available for licensing by Payment, POS, Banking and Network providers. The Web-based application runs on a vendor-independent database layer that allows the simultaneous use for multiple companies, divisions, chains, stores and terminals to communicate in a hosted environment. SmartClixx is a provider of in-house Stored Value Card/Gift Card application software and services platform with no transaction fees.Details
TN-based shopping center developer CBL & Associates Properties is offering shoppers a line of themed “American Express Gift Cards,” available for sale via CBL’s mall websites. CBL already offers the American Express Gift Card, as well as its own CBL gift card for sale both online and at many of its regional malls. With the new agreement, CBL will add the “American Express Gift Card Especially for Kids,” “Especially for Teens,” “Especially for the Bride and Groom,” and “Especially for Birthdays” to its portfolio of gift cards. The cards are available in a variety of denominations. All American Express Gift Cards come with a choice of cardholder-only special offers at participating merchants including 1-800-FLOWERS.COM, AMF Bowling, Build-A-Bear Workshop, f.y.e., KB Toys and Kid’s Foot Locker. CBL owns, holds interests in or manages 130 properties, including 80 regional malls/open-air centers.Details