Prepaid Musicmatch Cards Hit 7-Elevens

Six weeks after announcing it will “Musicmatch Music Download Cards” at retail outlets, Musicmatch and Vesta this morning announced the immediate availability of the prepaid card at thousands of 7-Eleven convenience stores across the country. The new cards are priced at $9.90 for 10 songs. Once purchased, the prepaid cards can be easily redeemed through the “Musicmatch Downloads” service, which currently offers more than 550,000 tracks and the industry’s most robust personalization and music discovery tools. Musicmatch is using AT&T the “Prepaid Web Cents” service. Dallas-based 7-Eleven operates approximately 5,800 7-Eleven stores in the USA and Canada. (CF Library 4/30/04)


New Model Builder Released by Fair Isaac

Fair Isaac Corporation has releases v2.1 of “Model Builder for Predictive Analytics” which lets clients create more accurate predictive scores with performance inference processing. Model Builder’s advanced modeling capabilities support the design and deployment of decision management applications that can be configured to meet the unique needs of different businesses. Clients can quickly define, test, and deploy models to production systems including mainframes without recoding by programmers. Fair Isaac Corporation is the preeminent provider of creative analytics that unlock value for people, businesses and industries.


Americans Slash Revolving Debt in April

Americans hit the breaks in April, paying-off $3.2 billion in revolving credit, the biggest one-month drop in eighteen months. At an annualized rate, consumer credit declined more than 5% during April. This is the second monthly decline this year, following a 60 basis point decline in February. According to revised figures released Monday by the Federal Reserve, at the end of April 2004, Americans owed $750.9 billion in revolving credit, compared to $722.8 billion for April 2003. Bank credit card debt (excluding store and gas credit cards) at the end of the first quarter was $658.9 billion, or roughly 88% of total revolving credit, according to CardData ([][1]). At the end of April, Americans were $2016.1 billion in debt, excluding home mortgages.

Apr 04 Mar 04 Feb 04 Jan04 Dec03 Nov03 Oct03
GRWTH: -5.1% 6.0 -0.6 13.0 3.3 4.9 4.1
$OWED: $750.9 754.1 750.4 753.0 743.4 743.8 740.5

Sep03 Aug 03 Jul03 Jun03 May03 Apr03 Mar03
GRWTH: 6.8% 3.4 1.4 2.7 7.7 3.4 4.5
$OWED: $737.3 729.1 726.8 729.7 727.9 722.8 724.8

Source: Federal Reserve; revised figures as of 6/07/04;
For complete historical data visit CardData (



Amex Opens Points for 850K Charities

American Express this morning announced that cardholders are now able to donate to more than 850,000 charitable organizations in the USA using their “Membership Rewards” points. In addition to redeeming points, cardholders can make a monetary donation on their Card to any of the charities offered through the site. They can also establish monthly or annual donations to their favorite charities through the site’s recurring billing capabilities and can donate to any number of charities at one time. When making a monetary donation through this site, cardholders earn one “Membership Rewards” point for virtually every dollar spent on an eligible, enrolled card.


MasterCard Names Canadian President

MasterCard officially named Kevin Stanton as president of MasterCard Canada. He has served as interim president of MasterCard Canada for the past two months. Prior to being named interim president, Stanton was SVP/Strategy and Market Development of MasterCard Canada. Previously, he spent seven years as VP/Senior Counsel and North America region counsel at MasterCard International. MasterCard’s gross dollar volume for credit cards and off-line debit cards rose more than 15% in Canada during the first quarter to $1.9 billion. MasterCard has 27.1 million cardholders in Canada linked to 20.8 million accounts.


New ClearCommerce Engine Adds More Punch

ClearCommerce has released “ClearCommerce Engine 5.5” which offers new tools to maximize fraud detection effectiveness, simplify solution integration, and strengthen security for sensitive payment data. A core component of the ClearCommerce fraud solution is “FraudShield,” a flexible rules engine that enables implementation of a customized order screening process. Other enhancements include a new user interface that allows system administrators to easily aggregate and apply master negative and positive lists to multiple stores, simplifying management of the solution for merchants with more than one online store and service providers hosting numerous merchant customers; redesigned API, standard integration templates for the leading scripting languages, and new online developers resource that includes complete documentation, sample code, and XML API tutorial to simplify the overall integration process with the company’s fraud prevention and payment processing software, and the “QuickStart” hosted service; and, support for HSM, a secure external hardware device that provides a higher level of data security and more efficient processing for encryption/decryption of sensitive credit card data. ClearCommerce software is used by 80,000 businesses worldwide.


Travelocity Deploying ReD1 Gateway

Travelocity is deploying ReD’s payment processing service, the “ReD1 Gateway”, for the global e-commerce transactions of its 41 million registered users. ReD’s payment gateway will enhance Travelocity’s ability to provide safe, reliable and secure payment methods. Blue-chip clients of ReD’s payment processing and fraud screening services include, GSI Commerce,, PaySystems, RealNetworks, ShopNBC and Netflix, among others. Travelocity’s industry-leading technology and straight-talking, honest information help travelers take more rewarding and more affordable trips.


Prepaid Rush VISA Adds Rush Pay

UniRush Financial Services has inked a deal with Metavante to offer “Rush Pay” to its unbanked “Prepaid VISA” cardholders. Starting today, Rush Prepaid Visa Card holders will have access to Rush Pay’s 24-hour on call accountant, over 20,000 electronic billers, and the ability to pay anyone any time of day with the Metavante electronic payment solution. Metavante Corporation delivers virtually all of the technology that an organization needs to offer financial services. UniRush LLC was created to offer the over 48 million Americans forced outside traditional banking institutions access to an array of basic financial services via the Rush Prepaid Visa Card.


TNB Card Services Gets an Award

Dallas-based TNB Card Services has received a “Champions of Industry Award” for 2004. The award recognizes TNB Card Services’ dedication to customer service, its community involvement, its technology and marketing innovations, and its stability. TNB Card Services was formed in 1976, the year after a consortium of credit unions bought Town North Bank and launched the card services division as a way to gain membership in the forerunners to today’s MasterCard and Visa associations. Since then, TNB Card Services has provided a wide range of credit card processing, management, and marketing services to hundreds of credit union clients around the country. TNB Card Services provides full-service credit and debit card processing, as well as an agent issuing solution for credit unions nationwide.


Incurrent Launches InSite Content Manager

Incurrent has launched “InSite Content Manager,” an enhanced component designed to integrate seamlessly with its powerful “InSite” product line that offers a full set of cardholder self-service features. “InSite” is a multi-tiered Web architecture that consists of proprietary batch and real-time interfaces to the issuer’s accounts receivable systems, a data warehouse of cardmember account and transaction history, and real-time access to more time-sensitive cardholder information, such as available credit. Its cardmember-facing applications include online account statement and transaction inquiries, bill payment and presentment, collections, compliant statements, alert e-mail messaging, and online customer service requests. The release of “InSite Content Manager” is the first of many new products developed in the .Net environment. Incurrent has recently rebuilt all of its core products in .Net, allowing the company to move away from being a professional services company and concentrate instead on R&D.


US Dataworks Launches Clearingworks

Houston-based US Dataworks announced it has branded its integrated platform of electronic payment processing solutions as “Clearingworks.” Clearingworks is an integrated electronic payment processing platform that provides an end-to-end solution with state-of-the-art decision-making functionality that determines “best-fit clearing” and “least-cost routing” of payments. US Dataworks is a developer of payment processing solutions, focused on the financial services market, Federal, State and local governments, billers and retailers.


CU Portfolio Premiums Remain Strong at Mid-Year

Premiums for smaller credit union card portfolio are up at mid-year. However, high quality, home grown, and seasoned credit card portfolios can command premiums as high as 26%, regardless of their size. According to R.K. Hammer Investment Bankers, portfolios with less than $1 million in assets generally produce premiums between 4% and 9%. Portfolios in the $1 million to $5 million range usually get a 5% to 15% premium, while portfolios in the $5 million to $10 million bandwidth command premiums ranging from 8% to 16%. Portfolios in the $15 million to $20 million range generally pull an 11% to 26% premium. Hammer says that some premiums paid are misleading since many smaller portfolio deals include an earnings-sharing provision based on future activity, which dilutes the effective premium figure at time of sale.