TeleCash has launched a new automated service for Tax free-Shopping. TeleCash is offering the new service in association with Global Refund. Earlier this year, First Data launched an identical service for Global Refund in Austria, where foreign tourists can benefit from the easy administration of VAT refunds when using Bankomat-Kasse machines. Following a successful pilot of “Tax Free Service,” TeleCash will market the automated service nationwide. This service will initially be offered to current tax free-merchants and will be restricted to the “Artema Hybrid” and “ST-3740” terminals.Details
Experian announced that Eric Descombes has been named country manager of Mexico. Descombes will be responsible for developing and leading the company’s expansion and growth initiatives in Mexico. Descombes will be based in the newly opened Experian office in Mexico City. Descombes has nearly 15 years of management experience in business
strategy and marketing positions. Most recently, he was general manager of several business units at the Ogilvy Agency in Mexico. Descombes holds a degree in electronics and telecommunications engineering from Instituto Tecnologico y de Estudios Superiores de Monterrey.
The largest card issuer and acquirer in Japan has inked a deal with Discover to expand card acceptance. The two parties have agreed to an arrangement that will facilitate acceptance of JCB cards on the Discover Network in the USA, and of Discover Network cards on the JCB network in Japan, and acceptance of “PULSE” cards at targeted ATMs in Japan at the option of the card issuer. In 2007, Discover Network will begin enabling its systems so JCB cardholders will be able to use their JCB cards at Discover Network merchant locations throughout the USA. Upon completion of a JCB system enhancement, Discover Network cardholders will be able to use their cards for purchases at JCB merchant locations and for cash advances at targeted ATMs throughout Japan beginning in 2008. Last year Discover inked a partnership with China UnionPay to facilitate the acceptance of Discover cards in China and CUP cards in the USA. Under terms of the deal, Discover cards will be accepted at China UnionPay ATMs and POS terminals in China while China UnionPay cards will be accepted on Discover’s “PULSE” network in the USA. Discover says both companies will also pursue ways to enable acceptance of CUP cards on Discover’s POS network in the USA.Details
Ottawa-based Precidia Technologies has received verification of its “POSLynx220 with NetVu” payment router by Merchant Link. The “POSLynx220” multi-port payment router connects serial and dial based equipment such as PC or electronic cash registers and ATMs to DSL, cable or wireless IP networks. Designed to meet the needs of the retail payments industry, it features SSL, dial back up and routing to multiple destinations based on card type. Merchant Link currently supports more than 100,000 hotels, restaurants, ballparks, and other venues, and maintains connectivity to the major US credit card processors.Details
Global Payments Europe has entered into an extension of its relationship with Komercni banka, a member of Societe Generale Groupe, by signing a new contract to provide an array of card processing services to Komercni banka, The services include authorization, ATM and POS terminal, payment card personalization, card management system maintenance and development, fraud detection and application development. The agreement calls for Global Payments Europe to provide such services to Komercni banka through December 31, 2008.Details
A new study has found that more than half of urban Chinese consumers use credit or debit cards for shopping, and 84% of those with credit cards expect their usage to increase or remain the same in the coming year. This is especially true in larger cities such as Beijing where 47% of urban Chinese consumers are increasing their credit card use. The UPS second annual survey of China’s growing class of urban consumers also found that 40% of urban Chinese Internet users having tried online shopping. Online purchases for fashion/accessories are up 10% over 2005. Books/music/video is the No. 1 category for online shopping, especially for higher-income households.Details
The FDIC second quarter earnings report for banks and thrifts shows that net charge-offs of loans and leases in the second quarter were $682 million, 10.9% below the level of a year earlier, as charge-offs of credit-card loans declined by $764 million or 19.0%.Details
New borrowing on credit cards contracted for the third straight month,
dipping by more than GBP 300 million in July. For the first half of this
year the average monthly contraction is running about GBP 100 million.
During May new credit card lending decreased by GBP 251 million and in
June is fell GBP 245 million. The British Bankers Association reports
that total new borrowing on credit cards hit GBP 7.083 billion in July,
the lowest July figure since 2002. With repayments exceeding spending
and after seasonal adjustment, net lending contracted by GBP 348
million, continuing the recent subdued picture of demand. The BBA also
noted that underlying net mortgage lending rose by GBP 5.7 billion in
July, compared with GBP 5.6 billion in June, an average of GBP 5.3
billion over recent months and GBP 4.0 billion in July 2005. The BBA
collects data from Abbey National, Alliance & Leicester, Barclays,
Bradford & Bingley, HBOS, HSBC Bank, Lloyds TSB, Northern Rock and The
Royal Bank of Scotland.
MN-based Datacard and Dynamic Card Solutions have expanded a joint marketing deal in the instant issuance market segment by designating the DCS “CardWizard” technology as a Datacard Group preferred software solution and Datacard Group as a preferred card personalization system and solutions provider for DCS.Details