Smart Card Group Forms a Healthcare Counci

The Smart Card Alliance has formed a Healthcare Council to bring payers, providers and technologists together to promote the adoption of smart cards in U.S. healthcare organizations. The Council will also seek partnerships with HL7 and other organizations whose mission it is to achieve common standards for electronic medical records. The Healthcare Council is one of several Smart Card Alliance Technology and Industry Councils, a new type of focused group within the overall structure of the Alliance. The Smart Card Alliance is a not-for-profit, multi-industry association working to stimulate the understanding, adoption, use and widespread application of smart card technology.

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Credit Card Portfolio Yields Wane in May

Yields on credit card-backed bonds fell for the third consecutive month as the gap between credit card interest rates and costs continues to narrow. During May, the yield declined to 16.90%, 37 basis points lower than the prior month and 81 basis points below the high set in March. However, yields remain remarkably above year-ago levels by 69 basis points. During May, charge-offs were higher, while delinquency and monthly payment rates declined, according to FitchRatings.

YIELD HISTORICAL
May 04: 16.21%
Jun 04: 16.77%
Jul 04: 16.72%
Aug 04: 16.37%
Sep 04: 17.50%
Oct 04: 16.39%
Nov 04: 17.15%
Dec 04: 16.81%
Jan 05: 16.64%
Feb 05: 16.27%
Mar 05: 17.71%
Apr 05: 17.27%
May 05: 16.90%
Source: FitchRatings

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AmEx Middle East Launches a Gold Credit Car

American Express Middle East has introduced a “Gold Credit Card.” AmEx is now looking for local bank partnerships to expand the new smart card product offering. The card carries an annual membership fee of QR300. It offers “Membership Rewards,” “Retail Protection Insurance,” and access to airport lounges. American Express cards are accepted by more than 1,000 merchants in Qatar.

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AmbironTrustWave Offers a Vital PCI Solution

Chicago-based AmbironTrustWave is now offering PCI compliance validation services to value-added developers of Vital Processing Services. This will provide compliance with the PCI and Visa Payment Application Best Practice standard. AmbironTrustWave’s TrustedApp service measures compliance with PABP requirements through a detailed review of application operating files, logs and databases. AmbironTrustWave provides information security and compliance management solutions to Fortune 2000 businesses and the public sector. Vital Processing Services provides technology-based, commerce-enabling services.

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UATP Signs a New Regional Sales Manager

UATP has hired Marguerite Lennon from Continental Airlines as a new Regional Sales Manager. Lennon will focus on the recruitment of new airline issuers and merchants in North America and the Asia-Pacific region. Lennon was a Senior Sales Director at Continental and brings more than 20 years of airline industry experience including Trans World Airlines. UATP accounts are accepted as a form of payment for corporate business travel by more than 200 airlines worldwide.

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Hannspree Selects NCR RealPOS and Retail Pro

Hannspree has selected NCR “RealPOS” technology and “Retail Pro”
software from Island Pacific to automate the POS as the company makes
its debut in the U.S. consumer electronics market. The Company
specializes in the manufacture of liquid-crystal display products for
televisions as well as desktop, notebook and tablet personal computer
screens. The sale includes NCR “RealPOS 70” terminals, NCR “RealPOS”
printers and NCR “RealScan 37” hand-held bar-code scanners. Duncan &
Associates is responsible for the sale while Big Hairy Dog Information
Systems is providing the “Retail Pro” POS software.

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KEB to Launch an Unsecured Foreigners-Only-Card

Korea Exchange Bank is set to launch a new foreigners-only-card
next week. The credit card does not require the usual security deposit
for foreign cardholders. The collateral deposits can run above
US$10,000. The new KEB card will be based only on income as long as the
cardholder is employed by a major firm. KEB says it also plans to
establish a English call center to support the program.

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AGs Demand Explanation from CardSystems

The attorneys general of 44 states sent a pointed letter to Atlanta-based CardSystems Solutions this week. The AGs are demanding the processing company explain how their system was breached to permit access to data on as many as 40 million cardholders. The AGs want to know what steps have been taken to reduce the harm to consumers and the Company’s plan to prevent future breaches. The AGs also want CardSystems to explain how many consumers were affected in each state. The letter asks for a reply by July 25. Michigan Attorney General Mike Cox said: “The breadth of this breach and the fact the company should not have been retaining the sensitive data compromised, makes this breach particularly egregious.”

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EMV TRANSACTION

Moneris Solutions this week demonstrated Canada’s first full data EMV
chip transaction under VISA Canada’s “Chip Migration Program.” Exactly
two years ago, VISA announced its initiative to migrate to EMV smart
cards in Canada. VISA expects all Canadian issuers to be EMV-ready by 2010. This week, Moneris President and CEO Jim Baumgartner carried out the first EMV transaction at CreArtive Custom Framing in Toronto. Moneris has been in full support of EMV chip developments in Canada since VISA Canada announced its chip migration plans in 2003. Moneris is the first acquirer to receive certification by VISA Canada to process and settle chip transactions. (CFI Library 6/26/03)

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First Data SVP Becomes a TNB EVP

Dallas-based TNB Card Services has hired Scott Wagner, formerly SVP/Client Development at First Data, as EVP, managing the day-to-day operations of the company. Wagner brings more than 20 years of experience in corporate and entrepreneurial business management to TNB. Wagner was most recently senior vice president, client development, at First Data Corporation, Inc. He also has a bachelor’s degree in finance and banking, and a master’s degree in finance and investment from the University of Nebraska. TNB Card Services is owned and directed by credit unions and provides full-service credit and debit card processing for 450 financial institutions and manages more than 1.6 million cards.

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