eBay Sellers Forced to Take Credit Cards

eBay will begin forcing its sellers that offer PayPal to take credit cards next month. Beginning August 19th, all sellers who offer PayPal as a payment option for their eBay listings must accept all forms of PayPal payment, regardless of whether they display the PayPal logo with credit card icons. Under the new policy, sellers may not communicate to eBay buyers that they will not accept credit cards via PayPal or eBay will cancel a listing and could terminate the seller’s account. “PayPal Personal” seller accounts may still receive payments funded via account balance or bank account transfers but must also be willing to upgrade to a “PayPal Premier” or “Business Account” if they receive a credit card payment via PayPal from their buyer. PayPal says its new policy will help end confusion about the PayPal service. Some eBay sellers currently refuse credit cards to avoid or limit charge-back exposure.

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Barclays Names a New CFO for Juniper

Barclays announced that Richard Sommers will take over as CFO of Juniper Bank. Sommers has spent 27 years with Barclays and for the past four years served as CFO for Barclaycard. Prior to that, he held CFO positions in its global retail financial services and Barclaycard’s Merchant Division. In late May, Barclays hired Kevin Sullivan, former SVP/National Sales at Chase Card Services, as senior director of business development for Juniper. (CF Library 5/31/05)

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RBS Lynk Certifies the JBM Gateway C200

RBS Lynk has completed certification of the “JBMGateway C200” wireless router enabling RBS Lynk to support wireless CDMA transmission of ATM transaction data for the ATM distributor and retail markets. There are no changes needed to convert from dial-up to wireless IP. The JBM Gateway C200 Series supports CDMA networks from Sprint or Verizon and GSM/GPRS networks from Cingular. JBM Electronics provides ATM/POS connectivity and security solutions. RBS Lynk is a single-source provider of electronic payment processing services and is a member of The Royal Bank of Scotland Group.

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U.S. Bancorp Debit & Corp Volume Up 20%+

U.S. Bancorp reported that its second quarter merchant acquiring volume grew nearly 13% over 2Q/04 to $37.9 billion, produced from about 729,000 merchants. Debit card volume jumped more than 22% and consumer/corporate credit card volume increased 21% during 2Q/05, compared to one-year ago. Debit card volume was $5.991 billion for the second quarter compared to $4.898 billion for 2Q/04. Consumer credit card volume for the quarter was $8.801 billion, up 9.3% over 2Q/04. Corporate credit card volume was $6.870 billion, compared to $5.668 billion for the year-ago quarter. Average credit card loans for 2Q/05 were $6.527 billion, compared to $5.989 billion one-year ago. For the quarter, U.S. Bancorp’s Payment Services net income was up about 11% to $178 million. For complete details on US Bancorp’s 2Q/05 performance, visit CardData ([www.carddata.com][1]).

MERCHANT ACQUIRING VOLUME HISTORICAL
2Q/03: $26,432,000,000
3Q/03: $27,995,000,000
4Q/03: $27,447,000,000
1Q/04: $27,335,000,000
2Q/04: $33,646,000,000
3Q/04: $38,483,000,000
4Q/04: $38,232,000,000
1Q/05: $34,294,000,000
2Q/05: $37,921,000,000
Source: CardData (www.carddata.com)

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

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Hart Takes an Interest in ECOM Financial

Pete Hart, former CEO of MasterCard and Advanta, has become an adviser and investor in Boca Raton, FL-based ECOM Financial Corp, provider of the “eCOM MasterCard”. Hart is a consultant in consumer financial services, specializing in emerging payment and distribution systems. His particular focus is the Internet and e-commerce and their impact on the consumer banking industry. Before joining MasterCard, Hart spent ten years at First Interstate Bancorp and was founding chairman of the board of the CIRRUS System. ECOM Financial Corp.is launching the eCOM MasterCard, a prepaid, disposable, mass marketed, non-personalized and universally accepted payment card.

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TransFirst Names New Marketing Director

Dallas-based TransFirst has promoted Brooke Sacrider to corporate marketing director. Previously, Sacrider served as sales and marketing coordinator for TransFirst. In her new role, she will focus on identifying and implementing key marketing strategies for TransFirst and its operating business units. Prior to joining TransFirst, Sacrider held positions with MoneyMaker and the city of Addison, Texas. She holds a bachelor’s degree from Stephen F. Austin University. TransFirst currently processes approximately $20 billion in annual sales volume for more than 160,000 merchants and more than 760 financial institutions.

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HSBC to Issue Six Claiborne Store Cards

HSBC North America has signed a deal with Liz Claiborne to issue private label credit cards. Each of the retail stores, which include Lucky Brand Jeans, Elisabeth, Mexx, Liz Claiborne, Dana Buchman and Ellen Tracy Outlet, will have its own credit card with its respective brand name. HSBC is also adding a points-based rewards program to each card. Two weeks ago, HSBC Retail Services sealed a deal to acquire Bon-Ton’s private label credit card business. (CF Library 6/21/05)

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Midas Selects Trintech’s ReconNET Software

Illinois-based Midas has selected Trintech’s “ReconNET” for use in their 1,700 company operated shops to automate the verification and reconciliation of cash, credit card transactions and purchase cards, which are used by stores to buy parts from third party suppliers. Midas is one of the world’s largest providers of automotive service with more than 2,600 shops in 19 countries. Trintech provides transaction reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally.

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BankWest of Nevada Launches the Moneyrail

BankWest of Nevada this week is launching a million dollar, multi-year advertising/ATM deal in the Las Vegas Monorail. The event will also launch of a promotion for monorail ATM users to win money for using the ATMs. Western Alliance Bankcorp is the parent company of BankWest of Nevada, AllianceBank of Arizona, Torrey Pines Bank, Premier Trust, and Miller/Russell & Associates.

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Morgan Beaumont Picks Up $5MM in Funding

Sarasota, FL-based stored value card specialist Morgan Beaumont has landed a $5 million private placement deal. The terms of this private placement transaction give the investors the opportunity to purchase an additional $7 million in equity. According to the terms of the transaction, Morgan Beaumont issued approximately 12.4 million shares of its common stock. Morgan Beaumont, Inc. provides stored value and debit card solutions.

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ID Data Picks Up GBP 4MM in Funding

ID Data has received an extra GBP 4 million in cash to support its
smart-card-based transaction systems and services to the banking, retail
and government sectors. Investors also agreed to convert GBP 3.6 million
of long-term debt into equity. ID Data recently launched a new
production joint venture in Poland, with a manufacturing capacity of 150
million cards per year. ID Data’s new high-security site at
Petersfield, Hampshire, now has the capacity to personalize and mail one
million cards per week.

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