Best Buy Renews its HSBC Card Contract

Best Buy has extended its strategic alliance with HSBC Finance Corporation’s card and retail services business managing Best Buy’s U.S. private label credit card and Reward Zone MasterCard programs. Best Buy’s relationship with HSBC began 15 years ago with the launch of the Best Buy-branded credit card for its U.S. customers. In 2006, the company introduced the Best Buy Reward Zone program MasterCard credit card, which rewards loyal Best Buy customers by providing automatic enrollment to the company’s popular Reward Zone program. The card enables consumers to accelerate the rate at which rewards are earned. Best Buy is a retailer of electronics, home-office products, entertainment software, appliances and related services through approximately 1,200 retail stores.

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Pay By Touch Signs Dorothy Lane Market

Independent grocery Dorothy Lane Market will adopt Pay By Touch’s biometric personalized marketing and payment services. The store’s loyalty program, Club DLM, will evolve to “Club DLM 2.U” where upgraded members can receive personalized offers from a kiosk as they enter the store using a biometric finger scan, or by swiping their Club DLM Card. Pay By Touch is a provider biometric authentication, personalized marketing and payment solutions.

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Card Issuers Struggle with Email Campaigns

A new survey has found that not one of the top mailing credit card companies accounted for more than 2% of credit card email campaigns aimed at new customers in the first quarter of this year. Chicago-based Mintel Comperemedia says during the same three-month period HSBC, Capital One and Chase were responsible for over 40% of the 1.8 billion direct mail pieces sent to non-customers. From January to March, Mintel found that Chase advertised co-branded cards in almost all of its email campaigns. Bank of America, another top direct mail promoter, followed suit with over 80% of its email offers advertising co-branded credit cards. Leading card issuers are not alone in exercising caution when targeting new customers through email. The Direct Marketing Association reports that across all industries, only one in four current email campaigns are designed to lure in new clients.

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PayPal Mobile Checkout Gets Real Traction

eBay’s PayPal online payment service has taken an aggressive stance this week with deals signed by Southwest Airlines, Northwest Airlines, UATP, Devix, CardinalCommerce, and Alienware. PayPal also unveiled its “Mobile Checkout” service and the opening of PayPal Data Services in Austin, Texas. Dallas-based Southwest Airlines, which currently serves 63 cities in 32 states, announced that its fares can now be purchased online using PayPal. Last month PayPal signed Northwest Airlines to accept PayPal, its first airline client. Washington, DC-based UATP, which serves 220 airlines, has launched the PayPal option. NJ-based Devix has been certified by PayPal to integrate “PayPal Express Checkout” into the latest Devix offering for e-tailers. OH-based CardinalCommerce announced partnerships with SkyMall, DVD Empire and DVD Planet and via the “Cardinal MAX” platform has created hosted mobile shopping sites that are fully integrated with “PayPal Mobile Checkout.” FL-based Alienware added the PayPal option to its “Titanium Account.” PayPal formally this week announced the launch of “Mobile Checkout,” a service allowing consumers in the U.S., U.K. and Canada to buy using the mobile Web. PayPal also announced that PayPal Data Services, Inc. is opening a new technology development center in Austin, Texas and plans to hire hundreds of local technical professionals in the next three years. PayPal has more than 143 million accounts in 190 markets and processes 17 currencies worldwide.

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IP Commerce Launches a Reseller Program

Denver-based IP Commerce has introduced the “Commerce Link” reseller program with the first groups to join the program are Microsoft resellers. For Windows Vista users, “PASS Commerce Center” is a one-of-a-kind solution for cash management. It provides timely notification of financial events, system security information, payments processing tasks and a single visual presentation of the cash flow health of a business, all from a central location on the Windows Vista desktop. “Quick-Payment” for Microsoft Office Accounting from BIG Software is a feature-rich bank card processing application that integrates directly into Microsoft Office Accounting 2007. “ChargeLink for QuickBooks” from Synergration allows merchants to process credit card payments from their PC through QuickBooks and “Desktop Remote Deposit” from Vault Software enables merchants can obtain payments and make deposits from their PC. IP Commerce is the first open network to connect commerce services from leading financial institutions with software developers and established distribution channels.

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First Atlantic Commerce Intros IP Geolocation

Affin Bank Berhad is implementing a credit card interest rate of 9.9%,
nearly half that of other Malaysian credit cards. In a countrywide effort
to reduce the typical 18% credit card interest, local banks, such as
Affin Bank Berhad, are being encouraged to offer consumers better
rates. This government-promoted rate reduction is projected to
encourage better spending among the Malaysian consumer population,
incurring of the highest credit card rates in the Indochina region.

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PaySimple Cuts Card Fees for Non-Profits

PaySimple will be offering a discount product package specifically for non-profit businesses. With the PaySimple system, non-profits can accept donations in person, over the phone, or online, and also set up donors on recurring-giving schedules. Because PaySimple hosts the secure payment form, the business does not need to have a website to implement an online giving program. The user-friendly, web-based system can be accessed from any computer, processes both credit card and electronic check transactions, and automatically deposits funds into the organization’s bank account. PaySimple is a provider of payment management solutions.

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EKSB & ACI

e-Kencana Sdn Bhd (eKSB) has implemented the ACI Worldwide
payment engine, BASE24, the ACI Card Management System and
ACI Smart Chip Manager. BASE24 will be used for transaction
processing through ATMs, kiosks, and self service devices. eKSB operates
Malaysia’s national e-purse scheme, MEPS Cash, for which customers are
issued MEPS Cash ATM cards. The scheme will benefit over 18 million
MyKad holders. ACI serves more than 800 customers in 84 countries.

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CO-OP Financial Services & CUSC Team

CO-OP Financial Services and GA-based Credit Union Service Corporation (CUSC) have completed an agreement to to create an organization that represents 80% of the country’s shared branching participants. Under terms of the business combination, CO-OP has purchased a 51 percent interest in CUSC, which continues to manage and market its branch outlets across the U.S. Additionally, CO-OP retains 100 percent ownership of its shared branching operation which will also be managed by CUSC. The new shared branching entity’s 1,100 participant credit unions will be able to facilitate deposits, withdrawals, loan payments and other transactions within the expanded nationwide shared branch network that now includes 1,656 branches spread across 40 states, representing two-thirds of shared branching locations worldwide.

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