Experian Buys a Major Stake in Brazilian Firm

From a consortium of Brazilian banks, Experian has acquired a 65% stake in Serasa Credit Bureau for 1.2 billion USD. Serasa sales have grown at a rate of over 20% per annum for the past two years, has a database of 161 million Brazilian consumer records and 5 million Brazilian company records. The Brazilian credit bureau has a 60% market share and will consolidate Experian’s position in Credit Services, who will control three of the top five credit bureaus worldwide with this development.

Details

JCB CEO

JCB has named Tamio Takakura, Deputy President since 2002, as its new President and CEO. Takakura succeeds Hiroya Nobuhara who had served as JCB’s President and CEO for the past 4 years. JCB International also announced management changes as Takakura will succeed Nobuhara as Chairman and CEO of JCBI. Kenji Seto, formerly Senior Deputy President, has become President and COO. Kunio Yoshizawa, who held the position of President and COO of JCBI for the past 4 years, is retiring after 13 years. JCB’s merchant network includes 13.5 million merchants and spans 190 countries and territories. JCB cards are now issued in 20 countries and territories, with more than 55.75 million cardholders.

Details

Barclays Adds a Frontier Airlines Biz Card

Denver-based Frontier Airlines has expanded its consumer credit card relationship with Barclays to now include a “MasterCard BusinessCard” for small businesses. The new card offers 12,500 bonus miles upon activation, plus one mile for every dollar spent on regular purchases and two miles for every dollar spent on Frontier Airlines purchases. The annual fee is $49. Credit lines of up to $50,000 are also offered. Frontier’s new “BusinessCard” features a “Wolf” design. Cardholders who make more than $60,000 in purchases within 12 credit card statement cycles will automatically be upgraded to “Ascent” status, an elite level in Frontier’s “EarlyReturns” program. Frontier Airlines offers routes linking its Denver hub to 58 destinations including 48 U.S. cities in 30 states spanning the nation from coast to coast, eight cities in Mexico and two cities in Canada. In 2003 Juniper Bank, now Barclays, launched the first co-branded “Frontier Airlines MasterCard.” Barclays acquired Juniper Financial and its $1.4 billion credit card portfolio from CIBC for $293 million in cash in August 2004. (CF Library 5/22/03; 8/19/04)

Details

ACG RESEARCH REPORT

Auriemma Consulting Group (ACG) research has revealed that slightly
over 1/3 of consumers, rather than making uninformed decisions on
credit card offers, actively seek offers that fit their criteria. This means
that the remaining 65% of the British population acquire cards through
mail solicitations and pre-approved notifications. Cardbeat, publisher
of ACG findings, surveyed 505 British and 400 American credit card
users in January 2007 and found that 26% of the of consumers in the UK
acquired cards through “take-one” applications at bank branches and
only 15% followed up on a pre-approved offer they received by post.
In the US, however, 42% of consumers obtain new credit cards by
applying through pre-approved mail offers versus 17% filling out
“take-ones” in bank branches and 12% seeking out offers.

Details

Revelex and Montrose Team to Offer CU Rewards

Revelex and Montrose Travel announced a partnership to launch a flexible rewards program with online booking capabilities for credit unions. Revelex and Montrose Travel designed six user-friendly platforms that credit unions, banks and other reward program providers with access to over 2,500 free travel awards when booking online travel. Although each platform differs slightly, they all allow for the online redemption of both restricted and unrestricted airline tickets, as well as car rentals, hotel stays, cruises, vacation packages and insurance. Revelex’s rules engine allows providers to establish unique rule sets such as advance purchase and minimum stay requirements. Revelex Corporation is a provider of travel technology solutions.

Details

First Natl Merchant Solutions Targets Prepaid

Omaha-based First National Merchant Solutions has expanded its offerings in the business-to-business market with the addition of a prepaid solutions team. The prepaid card issuing and prepaid program management solutions allow merchants to brand and manage a variety of program needs. In addition to prepaid card solutions, First National Merchant Solutions provides credit and debit card processing, secure Internet commerce processing, Electronic Benefit Transfer card processing and check guarantee, authorization and collection, designed to help merchants control costs and fraud.

Details

UBNICS & MULTOS CONSORTIUM

UBnics has released an initial implementation of “MULTOS step/one” on the
“NXP P5SD009 dual interface chip”, a module for contactless payments. The
new product comes with 12K of E2PROM programmable memory to support
Paypass, M/Chip, VSDC, ATM, Mifare and will be interoperable with existing
MULTOS terminals. With the product launch also comes an agreement for
UBnics to be the 18th MULTOS Consortium as a Business & Systems
Member. As a member Consortium, UBnics, as a smart card industry
organization, will be supporting and managing the open standard for MULTOS.
With over 75 million smart cards issued in 32 countries, the open
standard is
overseen and provided by a consortium of 18 smart card and silicon
manufacturers, payment schemes, card management system providers, and
integrators.

Details

PPI Powers Auburn’s ProSchool Software

Payment Processing has integrated with Auburn’s “ProSchool” software, allowing schools to process card payments and establish automatic payment for tuition billings. The comprehensive PPI solution includes credit card processing technology , free unlimited 24/7/365 technical and administrative support for developers and their customers to call regarding transaction processing questions and merchant account services. PPI provides integrated payment processing, supporting over 600 software developers and more than 17,000 merchants and processed over $3 billion in VISA and MasterCard payments. Auburn Electronics Group developed the hardware scoring systems for ProScore and class management system called ProSchool.

Details

Wells & VISA to Extensively Test M-Payments

Wells Fargo and VISA USA are planning to launch an extensive mobile pilot to test consumer mobile payments and services. The pilot has three phases and will test over-the-air delivery of payment account information to the mobile device; mobile payments in stores and restaurants accepting “VISA payWave” technology; receiving and redeeming mobile coupons; and account management services. The first phase of the pilot was completed with a group of employees in April, testing the use of mobile payment and mobile banking applications in the Wells Fargo “Customer Experience Research Lab.” The second phase is expected to launch this summer with 30 to 50 Wells Fargo employees testing mobile payments at merchants that accept “VISA payWave”-enabled products. The third phase will expand to a public trial with 300 to 500 Wells Fargo VISA cardholders, and will include additional pilot partners. In this phase, expected to launch in the fourth quarter of this year, Wells Fargo and VISA will build on learnings from previous phases and expand to a larger user base.

Details

AA & MC to Launch a Bourne Ultimatum Promo

American Airlines and MasterCard announce the “Sum It Up Sweepstakes” together with Universal Studio’s “The Bourne Ultimatum,” which will be released in theaters starting August 3rd. During the promotion, from June 28 through July 31, consumers are invited to join the American Airlines AAdvantage program and participate in the Sum It Up Sweepstakes where they can guess how many AAdvantage miles Jason Bourne has accumulated in his chase around the world. The winner will run away with all of Bourne’s miles. Participants can submit a guess online and be automatically entered for a chance to win the Grand Prize of over one million AAdvantage bonus miles and a $6,000 MasterCard gift card.

Details

HPS CEO Cited as Entrepreneur of the Year

Bob Carr, chairman and CEO of Heartland Payment Systems has been named a 2007 “Entrepreneur of the Year” by Ernst & Young. Carr was recognized not only for his achievements as the founder and CEO of Heartland Payment Systems, but also for his charitable contributions as the founder of the Give Something Back Foundation. The Give Something Back Foundation currently works with public, parochial, private schools and universities to provide quality educational opportunities to students. The Ernst & Young Entrepreneur of the Year Award recognizes outstanding entrepreneurs who are building and leading dynamic and growing businesses. Heartland Payment Systems provides credit/debit/prepaid card processing, payroll and payment solutions to more than 150,000 small and mid-sized businesses nationwide.

Details