Largest Supermarket PayPass Deployment Underway

ShopRite supermarkets have begun accepting MasterCard “PayPass” at over 200 ShopRite locations, the largest deployment of PayPass in the supermarket category to date. All participating ShopRite locations are fully equipped and ready to accept MasterCard PayPass in-store. The implementation of this technology provides a new level of convenience to millions of ShopRite customers. Purchases under $25 will not require the customer to sign the receipt. In addition, ShopRite will continue to accept traditional magnetic-stripe payment cards. ShopRite supermarkets are members of Wakefern Food Corporation, a retailer-owned cooperative with stores located throughout New Jersey, New York, Pennsylvania, Connecticut, and Delaware, serving than 4 million customers each week.

Details

FDC Completes its Intelligent Results Acquisition

First Data Corp has completed its acquisition of Intelligent Results, a customer data analytics and decision management software company. The strategic acquisition will provide the data analytics, predictive modeling and expertise to support development and enhancement of products. It also supports the company’s key strategies of growing the core business and expanding its product offering with special focus in fraud, loyalty and customer contact Intelligent Results’ proprietary customer analytics and decision management platform “PREDIGY” is used by clients in the financial services, utilities and government services markets.

Details

FAIR ISAAC & ACONITE

Aconite, a top provider of software and consulting solutions to
the global payments market, and Fair Isaac, the top provider of
analytics and decision management technology have joined forces to
improve fraud and risk management in an off-line ME environment. The
companies will jointly market “Falcon Fraud Manager” for payment card
fraud detection and “TRIAD” adaptive control system for credit risk
management with “ME Script Processor” and “ME Transaction Enabler,”
Aconite’s ME software solutions. Named after its originators Europe,
MasterCard and VISA, ME describes a set of requirements to ensure
interoperability between “smart” or chip-based payment cards and
point-of-sale terminals on a global basis.

Details

CashTechCard to Market iShop’s Prepaid Cards

CashTechCard Systems has entered into a joint marketing agreement with TV Media to market the “iShop” prepaid debit card program. CSI will be the exclusive provider of prepaid debit card products to TV Media, whose various advertising channels reach millions of U.S. households. The first 10,000 “iShop” cards have been ordered by TV Media from CSI. The “iShop Card” can be used for mail-order and online purchases and at millions of merchants and ATM locations around the world. Unlike conventional credit cards, virtually everyone is qualified to receive an “iShop Card”, including non-banked or underbanked customers. TV Media is a product marketing and services company. Cash Technologies develops and markets innovative data processing solutions in the healthcare and financial services industries.

Details

FAIR ISAAC & ACONITE

Aconite software and Fair Isaac technology management have announced a
joint venture, known as “Falcon” and “TRIAD” decision management, to
provide banks and transaction processors with fraud and risk management.
These capabilities will be available for companies worldwide and are
designed to help banks adopt a balanced online/offline authorization
policy, reduce operational costs, minimize fraud losses, and increase
revenue. Fair Isaac’s “Falcon Fraud Manager” is a payment card fraud
detection system, protecting more than 450 million accounts globally.
“TRIAD adaptive control system” automates customer management and
account decisions and is used to manage nearly 300 card portfolios
worldwide.

Details

Encore Capital Gross Collections Rise 31%

San Diego-based charge-off buyer Encore Capital reported that revenues from the debt purchasing business during the fourth quarter were $65.0 million, a 20% increase the same period of the prior year. However, net income declined 15% year-on-year to $6.6 million. Gross collections for 4Q/06 were $94.5 million, a 31% increase over 4Q/05. During the fourth quarter, the Company spent $63.6 million to purchase $1.4 billion in face value of debt. Asset classes purchased in the fourth quarter included credit card, healthcare, auto deficiency, telecommunications and consumer loans. For the full year of 2006, the Company spent $144.3 million to purchase $3.7 billion in face value of debt. The Company also announced that its Board of Directors has authorized a securities repurchase program under which the Company may buy back up to $50 million of a combination of its common stock and convertible senior notes. For complete details on Encore’s latest results, visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

Details

Alacra Adds Experian To List Of Data Providers

Alacra Business Solutions has announced the addition of Experian to its’
list of data providers. Experian brings to Alacra expertise in business
information allowing customers access to news on over 2.4 million UK
public and private companies and four million directors and
shareholders. More than 600 corporations, representing 50,000 end users
worldwide, use Alacra to find and deploy business information.

Details

Hitachi/Dove Consulting to Launch a PCI Practice

Hitachi Consulting has created a Payments Compliance practice through its Dove Consulting division and appointed Paul Turgeon to lead the practice. Turgeon has held senior leadership roles with First Data Corporation, NYCE and ACI as well as founding Schema Corporation. The new practice will help industry participants assimilate the myriad association release changes such as “Release Requirements Normalization”, “Release Management”, “Back Office Optimization”, “Portfolio Optimization” and “Release Opportunity Maximization”. Dove Consulting specializes in strategy and organization consulting for banks, payment networks and processors, broadband companies and consumer goods companies. Hitachi is a global electronics company with consolidated sales totaled 9,464 billion yen ($80.9 billion).

Details

EMV Migration to Stimulate Smart Card Growth

By the year 2010, the number of smart cards in circulation in Canada is
expected to reach 54.8 million cards as a result of EMV migration. This
will represent 43.6% of all payment cards in circulation that year. A
strategic assessment of Canada’s EMV migration program has been issued
by Technology Surveys, a leading technology market research firm. EMV
migration is a complex process, and many delays in implementing the
system in the country are expected. According to Technology Surveys’
assessment, among the many hurdles, the investment required will exceed
$1 billion. Also, most retailers have not been engaged in EMV migration
planning thus are likely to resist the change. According to the
assessment, the most significant threat to EMV migration, however, is in
the area of contactless and wireless payments.

Details

Chase Commits to $1.3MM for Financial Literacy

Chase Card Services is donating $1.3 million per year for three years to multiple organizations across the United States through its new “Financial Literacy Grant Program”. The new nationwide program is part of Chase’s multi-million dollar commitment to supporting financial literacy for people of all ages. Chase’s donations support several critical initiatives such as consumer education, community outreach and awareness programs and conducting research to design better financial literacy programs. These grants will be donated to more than 30 organizations, including Consumer Credit Counseling Service of the Delaware Valley, Novadebt, George Washington University’s Financial Services Research Program, Take Charge America Institute’s “Duel in the Desert Program,” which supports more than 80 universities’ financial literacy efforts, and the Delaware Financial Literacy Institute, in which a $30,000 grant funds a week-long entrepreneurship camp – called “Chasing the Dream” – to teach middle and junior high school students about how to launch and manage their own businesses.

Details

Banco Colpatria and GE Money Form a Joint Venture

GE Money, has announced its’
acquisition of a minority position in Banco Colpatria – Red Multibanca
Colpatria. Based in Bogota, Banco Colpatria is a consumer and
commercial bank of which GE Money will acquire 39.3% and the option for
an additional 25% by 2012. Columbia is a growing market for GE Money and
will provide the bank with expanded product offerings and accelerated
growth. Banco Colpatria has over $2.4 billion in assets and is the
second largest credit card issuer in Colombia. The bank has 139 branches
and serves over 1 million customers. GE Money’s Latin American division
has approximately $7 billion in assets and offers a wide range of
financial products in more than 430 branches and locations.

Details

VISA Europe Launches Account Updater & Stop Service

The Visa “Account Updater & Stop Service”, a new solution designed to
manage regular payments on VISA cards, will allow merchants to validate
and update card details held on file for customers. The solution will also
allow cardholders to cancel regular payment instructions more easily. The
VISA “Account Updater” is a database that keeps a record of VISA card
holders’ card numbers. Therefore, prior to processing a
payment, a merchant can confirm customer information. Meanwhile, the “Stop
Service” allows a customer, through their card issuer / bank, to alert the
retailers in case a regular payment, that has been set up on their VISA
card, needs to be canceled. All VISA UK acquiring and issuing banks will
be mandated to use the service.

Details