| » Publisher's Corner |
'Tis The Season…………….
Can you believe it is the holiday season again already? So did you get up early to make any of the pre-dawn door buster sales on Black Friday? How much did you spend clicking away on Cyber Monday?
Traditionally those two shopping days set the benchmarks and the expectations of how strong this season will be for retailers. It is also a good time for us to stop and think and not take for granted that the Transaction Processing Industry in which we all toil is always a safe place to navigate.
On that note, we at TPAtlanta wanted to share with you some gentle reminders in order to help keep you safe and sound as you transact your holiday affairs.
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Calvin D. Johnson, Publisher
publisher@tpatlanta.com
Trans Atlantic Systems, Inc.
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| » Editorial |
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Updated Annual Report on Prepaid Gift Cards 
Montgomery County, Maryland's Office of Consumer Protection has released its fifth annual gift card study called, "Gift Cards 2007: Best and Worst Retail Cards; A Deeper View of Bank Cards Doesn't Improve Their Look " The report contains valuable information and recommendations regarding gift cards issued by 22 stores and restaurants and 20 banks/financial institutions.
"With consumers annually spending over $80 billion nationwide to purchase gift cards, it is important for them to have good information so they can buy the best cards and avoid the worst," said OCP Administrator Evan Johnson, author of the report.
Consumers looking to prepaid gift cards to assist in their holiday shopping are confronted with understanding and comparing a variety of fees, charges, time limits and rules. In addition, more sellers this year are offering bank cards carrying the logo of American Express, Discover, MasterCard or Visa, which can be used at more than one store.
The report analyzes cards based on several criteria, recommends cards with the most attractive features, and warns consumers about purchasing other gift cards.
The report fully discusses the following findings:
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» Main story |
| It's a Wrap for Gift Cards 
Now that the winter holiday season is just around the corner, it's time for consumers to think about what to buy for friends, family, co-workers, and employees. Analysts say that more than 75% of all consumers are expected to receive at least one gift card this year. So it's time for retail merchants to put on their prepaid thinking caps.
In case retailers forgot, consumers may tire of the same old thing, but they always appreciate convenience. That's one reason why the gift card market is worth billions of dollars. Gift card malls, as they are known, are filled with easy offerings from retailer-specific merchants in every possible category -- clothing and home goods, dining, leisure/experience, airlines and hotels, entertainment, and even music downloads. Cards with credit card logos can be used anywhere.
Closed loop refers to retailer-specific gift cards, giving consumers a gift to shop at one store. Open loop gift cards with a credit card brand allow recipients to spend the gift wherever and however they want. "Open loop cards are newer to the prepaid scene, but both segments are showing healthy growth in the U.S.," said Vance Hodnett, senior vice president research-financial services, The Pelorus Group.
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| » Earlier this month |
Bank of America's Mobile Banking Grows
The mobile banking race is on. Bank of America has announced that, six months after rolling out its Mobile Banking service to consumers nationwide, it has reached a record 500,000 active mobile customers.
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PayPal's Plug-In Now Available
After rampant speculation earlier in the week, late today PayPal officially introduced the "PayPal Plug-In" - describing it as "a free download for your Internet browser that allows you to pay with PayPal anywhere MasterCard is accepted online."
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RBS Lynk Offers eBillme
RBS Lynk has announced it is now offering its merchants a way to reach online banking users who want to pay cash at eCommerce checkouts by offering MODASolutions eBillme payment option.
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CompuCredit Accounts Grow
Despite the credit crunch, CompuCredit had some positive news in the 3rd quarter.
"CompuCredit once again experienced tremendous account growth as we added over 500,000 net new customer accounts through a variety of distribution channels," said David G. Hanna, CompuCredit chairman and CEO.
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| » Industry News |
Global Payments Enables Discover Network Card Acceptance for its Independent Sales Organizations
Atlanta based Global Payments Inc., a world leader in payment processing services, announced today that it has activated the first of its Independent Sales Organizations (ISOs) relationships - EVO, Mercury Payments, North American Bankcard and Total Merchant Services - to acquire Discover Network merchants in a manner consistent with Visa's and MasterCard's acquiring programs. .
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E-Trade Gets $2.5B Infusion, CEO Out
Discount broker E-Trade Financial Corp. disclosed today it is getting a $2.5 billion capital infusion from a group led by Citadel Investment Group and said Mitchell H. Caplan has stepped down as its chief executive.
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ChoicePoint Wins Corporate Citizenship Award
The U.S. Chamber of Commerce Business Civic Leadership Center (BCLC) today announced on November 8 that Atlanta based ChoicePoint has won a Corporate Citizenship Award in the category of Corporate Stewardship, Small/Midsize Business.
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Fiserv prepares debt sale, loan for CheckFree deal
Fiserv Inc. said on November 13 that it plans to sell debt notes to help pay for its proposed $4.4 billion acquisition of CheckFree Corp.
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