CONTACTLESS CONSUMER

Due to the minimal common knowledge in the contactless payments field,
70% of British consumers question its fraud protection.
Furthermore, 76% of consumers are unaware of the new solution and
15% say they are likely to use the device for transactions of less than
GBP 10
only. The solution verifies the user’s identity once every 10-15
transactions
by requesting PIN entry and, with the amount expected to increase to
GBP 75, experts say this is appealing to thieves and fraudulent activity.
It is projected that 91% of bank customers will have debt cards, 70
million cards total, with the contactless capabilities whether they
prefer it or
not. A Bank Machine Surveys shows that 40% would like to have the option
to deactivate the contactless feature. Bank Machine, a subsidiary of
Cardtronics, is an ATM operator with over 1600 ATMs in the UK and
employs over 60.

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PREPAID VIRGIN CARD

Lufthansa German Airlines and Deutsche Bank have launched
the two “Miles & More VISA” cards in India. Every Rs 100 spent on the
“Miles & More Platinum VISA” earns two award miles while every Rs 100
spent on the “Miles & More VISA Signature” card earns three award miles.
On the first card purchase, “Miles & More Platinum VISA” cardholders
receive a welcome bonus of 5,000 award miles and “Miles & More VISA
Signature” cardholders will be credited a welcome bonus of 10,000
award miles. The new card also gives customers access to over 500 VIP
airport lounges across the world. The “Priority Pass” is being offered
to “Miles & More” cardholders at a special rate of Rs 1,500.
The new card is available in Mumbai, Delhi, Bangalore, Chennai and
Kolkata, with plans to roll-out to other cities at a later date.

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ALIPAY CREDIT SURVEY

Alipay has conducted an Internet credit survey of 396,542 participants
reflecting consumer impressions. Of the participants, 90% believed it
is necessary to fix a “credit tag” to credible enterprises and individuals,
69% believe Internet information is highly trustworthy, 52%
trust branded or well-established websites, and 10% of the Internet
users find reliable websites through the introduction of others. Also,
among those polled, 24% distrust fake advertisements, 23% distrust
virus transmissions, 19% distrust fraud, 17% distrust disclosure of
personal information, and 11% distrust pornography information.
Overall, 75% value a business’s credit rating for online transactions and
56% believe it is necessary to set up a 3rd party credit evaluation
system.

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STAPLES MASTERCARD

Citi Cards Canada and STAPLES Business Depot have launched a new general purpose credit card. The new “Citi STAPLES easyRewards
MasterCard” offers up to 2% in points to use towards purchases at any STAPLES Business Depot or Bureau en Gros store in Canada. Cardholders earn “easyRewards” on a tiered-basis, and are calculated automatically based on the customer’s year-to-date spend. The tiers start at 0.5% for spend of $0 to $3,000 and increase to 2% with an annual spend of over $15,000 to a maximum of $50,000. According to customer research, the average Canadian has a monthly credit card bill of $1,275 and spends an average of $752.00 per year on office supplies.

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VALUE RETAIL CARD

alphyra prepayments and Value Retail have introduced a prepaid gift
card based on the Nomad processing platform. The prepaid card is
accepted wherever MasterCard is and implements the CORTEX
processing platform and do not incur any further administrative
charges. The card will be introduced at UK’s Bicester Village, Kildare
Village in Ireland, Maasmechelen Village in Belgium, Villages in Spain,
Italy and Germany by 2008. alphyra has operations in 23 European
countries, processes over 400 million transactions per year, and operates
on payzone, a branded network of 150,000 retail points.

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Vesta Corp Hires a Seasoned Payments Executive

Portland, OR-based Vesta Corporation has hired Kim Anderson, previously EVP and GM of IDT Financial, as GM of Credit Solutions. Anderson will oversee product strategy and development. Anderson brings over 25 years of international experience in credit and financial services for a variety of companies. Most recently, Anderson was Executive Vice President and General Manger of IDT Financial Services where he was responsible for building multiple growth business lines. Prior to IDT, Anderson was President, Retail and Ecommerce at eFunds Corporation and has held a number of senior leadership roles with Equifax, Ceridian and Deluxe Corporation. Vesta is a provider of virtual payments.

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CARD FRAUD

In the United Kingdom, 21% of gambling is funded through consumers’
credit cards, according to MoneyExpert.com. Furthermore, the financial
comparison website also shows that 13% support their gambling habits
by borrowing money, 8% dip into their personal savings, 1 out of 3 adults
gambles on a monthly basis, 21.37 GBP is the average amount on the line,
and nearly 1,000,000 gamers lose between 50 GBP and 150 GBP when
taking their chances. Also, 68% of those whom gamble use cash and 44% of
gamblers game online, followed by 19% playing their hand through
bookmakers.

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Saylent Technologies Y-Debit Gains Momentum

MA-based Saylent Technologies has deployed its “Y-Debit” solution suite at MS-based Cadence Bank. Cadence licensed the Y-Debit software suite to increase debit card usage and interchange income. Y-Debit connects data from core banking solutions and transaction processing systems to deliver information on cardholder usage and portfolio trends. Cadence Financial Corporation is a financial holding company providing full financial services, including banking, trust services, mortgage services, insurance, and investment products. Saylent Technologies helps drive card usage and increase non-interest income for financial institutions and other card issuers.

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HOLOSTRIPE

American Bank Note Holographics has introduced “HoloStripe” as a
security device hologram on MasterCard and VISA bank cards.
“HoloStripe” is laminated to cards by card manufacturers and is useful
in brand promotion. This product allows card issuers to apply new
design formats and enhance their card design, all while adding security
and preventing fraud. American Bank Note Holographics produces
and markets these holograms for use in security applications such as
counterfeiting protection of transaction cards, identity documents,
documents of value and pharmaceuticals.

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Birthright Israel Prepaid Debit Card Planned

Cash Technologies has entered into a Service and Joint Marketing Agreement with NY-based Mayanot Institute of Jewish Studies for distribution of CSI’s prepaid debit cards. Under the terms of the agreement, Mayanot will offer CSI’s prepaid debit cards to its students and their families. Mayanot is obligated to distribute at least 3,000 cards within the first 14 months of the agreement and CSI shall be the exclusive provider of prepaid debit cards to Mayanot for the term of the 3-year agreement. Mayanot provides adult Jewish education and is one of the largest sponsors of the Taglit-Birthright Israel program, which offers free trips to Israel for Jewish college students and young adults. To date, 120,000 youth from 51 countries have traveled to Israel for the first time on Taglit-Birthright Israel trips. Cash Technologies develops and markets data processing solutions in the healthcare and financial services industries.

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