Visa Says NFC Uptake Accelerating

However, uptake has been gradual due to lack of contactless infrastructure and security concerns 

NFC Data Inc's NFC Reader, Writer, Viewer Keyfob

Despite some security loopholes remaining, near field communications technology is gaining a foothold in Australia, according to Visa A/NZ. NFC, which enables data exchanges and transactions to be made between two devices within close range to each other, is expected to be more widely used for contactless payments.The technology will allow consumers with an NFC-enabled smartphone containing their credit or debit card details to make purchases with a wave or tap of their phone on a card reader.“We think it’s a disruptive technology, in terms of plastic cards for payments,” said Ben Pfisterer, Visa’s director of innovation & emerging products, Australia and New Zealand speaking at a recent panel on near field communication.

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First Data Releases November 2011 SpendTrend®

December 09, 2011 09:00 AM Eastern Time 

November Card Spending Growth Solid at 7.3%

ATLANTA--(BUSINESS WIRE)--First Data Corporation, a global leader in electronic commerce and payment processing, today released its First Data SpendTrend^® analysis for the full month of November 2011 compared to November 2010. SpendTrend tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.

“Consumers restrained their spending until Black Friday promotions began and appear focused on value this holiday season.”

Overall year-over-year dollar volume growth was up 7.3% in November, down from October’s 9.4% growth. November 2011 had tough comparables as November 2010 was a particularly strong month, with dollar volume growth up 8.1%. November 2011 transaction growth was 6.1%.

Consumers anticipated Black Friday sales and restrained spending earlier in the month. Retailers were reluctant to slash prices in November until planned Black Friday promotions began. Overall year-over-year average ticket growth was 1.1% for the month, down from October’s growth of 1.8% and the smallest increase since July 2011. Moderating inflation levels contributed to the slowdown in average ticket growth.

“Despite a good Thanksgiving/Black Friday, year-over-year spending growth was only moderate for the full month of November,” said Silvio Tavares, SVP and division manager of First Data Global Information and Analytics Solutions, which publishes SpendTrend. “Consumers restrained their spending until Black Friday promotions began and appear focused on value this holiday season.”

Nov. Transaction Growth		CHANGE						Nov. Dollar Volume Growth		CHANGE
Credit		+4.9%						Credit		+7.3%
Signature Debit		+6.4%						Signature Debit		+7.3%
PIN Debit		+7.3%						PIN Debit		+7.6%
Check		-10.8%						Check		-7.6%
Note: All transactions are same-store growth.

For more information on First Data SpendTrend, visit www.firstdata.com/infoanalytics or call SpendTrend Customer Care at 800-430-0169. A supplementary podcast including further analysis of the SpendTrend November 2011 report is available here.

To participate in the SpendTrend conversation, please follow First Data at http://twitter.com/FirstData and join us athttp://on.fb.me/spendtrend.

Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.

First Data SpendTrend, a macro-economic indicator, is based on aggregate same-store sales activity in the First Data Point of Sale Network. First Data SpendTrend does not represent First Data’s financial performance.

NFC Company Tapit wins Global Top 100 Red Herring Award

Sydney Australia, December 9, 2011: Following on from it’s Red Herring Asia Top 100 win in October this year, Near Field Communication (NFC) company Tapit was last night awarded the Top 100 Global Award by Red Herring in Los Angeles.

Tapit simplifies the process of getting content to mobile phones. They have been extremely successful in getting traction from the market in a very short time. Basically, people can just tap physical objects with their mobile phones and instantly receive content.

Red Herring Global 100 Winner

The Red Herring 100 Global awards is a prestigious list honouring the year’s most promising private technology companies from across Europe, Asia and North America. The Red Herring Global editorial team selected the most innovative companies from hundreds of candidates, with the nominees being evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries.

Andrew Davis, Agency Director and Co-Founder of Tapit accepted the award and noted “It was interesting to see who we were up against. Tapit was definitely one of the newest companies at the awards so it was exciting that our innovation is already being recognised”.

Tapit’s Red Herring award comes days after RIM announced it’s partnership with Tapit to educate people about the NFC capabilities of their new Blackberry Bold 9900 and BlackBerry Curve 9360.

Jamie Conyngham, CEO and Co-Founder of Tapit added “this is a great end to 2011 for us, the global recognition coincides with our international expansion, you can expect to see Tapit campaigns in more countries next year”.

About Tapit (www.tapit.com.au) Tapit was founded in March 2011 and is headquartered in Sydney, Australia. Its vision is to revolutionize the way people use their mobile phones by simplifying the delivery of content using NFC as the enabler. Tapit works with both private enterprise and government to bring this vision to life. This solution has been supported by the NSW Government's Collaborative Solutions Program. More information:www.business.nsw.gov.au/collaborativesolutions

Despite Economic Pessimism, Consumers to Increase 2011 Holiday Spending

December 09, 2011 07:00 AM Eastern Time 

Consumers Expect to Increase 2011 Holiday Spending in Spite of Pessimism on the State of the Economy According to New Research Conducted by Auriemma Consulting Group

NEW YORK--(BUSINESS WIRE)--The holiday spending season was off to a brisk start, confirmed by the National Retail Federation (NRF) statistics, which reported that the 2011 Thanksgiving weekend set retail sales records, with total spending topping $52.4 billion. But with the kickoff to the holiday season now officially over, retailers, economists and policy-makers alike, are left wondering what we can realistically expect the 2011 holiday season to look like when it’s all finished? Indeed, skeptics contend that most of those early sales were fueled by longer store hours, more generous discounts, and free shipping in the online retail space, few of which are sustainable, long-term retail strategies.

“Many consumers seem willing to make personal sacrifices to ensure they’re able give the perfect gift, while the affluent will continue spending on luxury goods without interruption.”

Tracy Mullin, the NRF's president and CEO acknowledged the uncertain retail outlook, when she stated that, "Holiday sales are not expected to continue at this brisk pace."

Only time will tell, but according to the latest research from Cardbeat^®, a syndicated market research report published by Auriemma Consulting Group (ACG), a majority of U.S. consumers are actually planning to increase their 2011 holiday spending by nearly one-third, planning to spend an average of $601 compared to $454 in 2010.

This comes in spite of general consumer pessimism on the outlook for the U.S. economy as a whole. For example, 81% of the same respondents believe that the U.S. economy has not improved at all during the past two years, while nearly 40% say their personal financial situation has actually gotten worse. Yet most consumers still say they plan to increase their holiday spending.

There are several possible explanations for the apparent dichotomy.

First, the U.S. consumer market is eroding into an hourglass shape, with more migrating into the high and low ends. Many consumers in what remains of the middle and the low-ends of the market appear willing to trade down on everyday essentials in order to splurge on discretionary purchases, including holiday gift-giving. Indeed, sales growth for store-brands has consistently outpaced the sales growth for national brands since early 2008. Second, affluent consumers are expected to outspend their mass-market counterparts ($701 vs. $601) on holiday gift-giving, pushing the average higher.

Dr. Patricia Sahm, Managing Director at ACG explains "Many consumers seem willing to make personal sacrifices to ensure they’re able give the perfect gift, while the affluent will continue spending on luxury goods without interruption.” Collectively, both factors help to explain this behavior.

As for retailers, Dr. Sahm says there are also some positive signs heading into the New Year. Notably, store-brands tend to have significantly higher profit margins, so while holiday sales may lure consumers into the stores, having attractive and exclusive store-brands may help to keep them coming back.

Cardbeat research data was gathered using a web-based survey recently administered to 407 credit card users in the U.S. during the month of October 2011. The number of interviews completed on a monthly basis is sufficient to allow for statistical significance testing between sub-groups at the 95% confidence level ±5%.

About Auriemma Consulting Group

Auriemma Consulting Group (ACG) is a full-service management consulting firm serving the payments, lending and retail industries since 1984. Cardbeat is ACG’s syndicated market research study of credit cardholders, conducted monthly in the U.S. and quarterly in the U.K. ACG also conducts research in the debit and prepaid space, and publishes a quarterly report known as The Debit Report. With offices in New York and London, ACG consultants are experienced practitioners, drawn from the credit card, private label, auto finance, mortgage, and retail banking industries that we serve. For more information, please contact Dr. Patricia A. Sahm at 212-323-7000 orpatricia.sahm@acg.net.

Euronet Wins Contract with Ikano Bank GmbH in Germany for Operation of ATMs in IKEA Stores

December 08, 2011 06:09 PM Eastern Time 

MUNICH & LEAWOOD, Kan.--(BUSINESS WIRE)--Euronet Germany, (a division of Transact Elektronische Zahlungssysteme GmbH), a wholly owned subsidiary of Euronet Worldwide Inc. (NASDAQ: EEFT), announces a new ATM outsourcing agreement with Ikano Bank GmbH. Euronet will provide outsourcing services for the Ikano Bank ATMs, which are exclusively located in IKEA Deutschland GmbH & Co. KG stores throughout the country. This is the first outsourcing agreement for Euronet in Germany, Euronet’s second largest ATM market.

“This contract represents a significant strategic step as it marks the expansion and diversification of our business. Until now, Euronet Germany has operated its ATM business based predominantly on the Independent ATM Deployment (IAD) model”

In addition to providing outsourcing services in the established 48 locations, the contract allows Euronet to operate any additional ATMs that may be deployed in new IKEA stores in the future. The roll-out of the new ATMs has started and will be complete before the end of 2011. The new, state-of-the-art devices are equipped with fully loaded functionality, including: 2D bar code reader, thermal receipt printer, contactless card reader for mobile wallet payments, extra cassettes for coupons to be dispensed with cash and the potential to add an additional 42 inch digital advertising screen above the ATM. Additionally, the IKEA FAMILY Bezahlkarte, a closed looped store card, will be accepted for cash withdrawals at the Ikano Bank ATMs. The ATMs will be Ikano Bank branded and Euronet owned and operated.

“This contract represents a significant strategic step as it marks the expansion and diversification of our business. Until now, Euronet Germany has operated its ATM business based predominantly on the Independent ATM Deployment (IAD) model,” stated Alfred Stettberger, Managing Director of Euronet Germany. “This first outsourcing contract for Euronet Germany demonstrates that banks see the advantage of working with a partner who, in addition to delivering classic ATM services, is also able to go a step beyond and provide a rich portfolio of value added offerings - a key differentiator for Euronet,” added Mr. Stettberger.

“We chose to work with Euronet due to their extensive ATM operations experience and flexible, state-of-the-art, proprietary technology, which enables our ATMs in IKEA locations to offer a wide range of services,” stated Mathias Schmitt, Head of IKEA Business at Ikano Bank GmbH.

Providing outsourcing services in Germany allows banks to leverage the operations and infrastructure costs of off-site ATM deployment. This provides banks an opportunity to reduce their cost structure while delivering broader ATM access and more transaction choice to their customers through Euronet’s portfolio of value added services.

Bank of America Merchant Services Launches Money Network® Solution

December 08, 2011 12:26 PM Eastern Time 

Sponsored by Bank of America, Electronic Payroll Distribution Service Reduces Payroll Fees, Promotes Safe Bank Services

ATLANTA--(BUSINESS WIRE)--Bank of America Merchant Services, a leader in payments processing, and Money Network^®, a First Data Company and premier provider of electronic payroll distribution solutions, today announced the launch of the Money Network^®Payroll Distribution Service sponsored by Bank of America. The program enables employers to comply with complex payroll distribution laws, such as the need to offer a paper paycheck and free check cashing locations, while providing a safe and convenient pay alternative for employees who do not have access to a deposit or checking account.

“The Money Network Service helps reduce the expense burden for companies while enabling 100 percent electronic pay and payroll compliance in all 50 states.”

With the Bank of America-issued Money Network^® Service, the payroll process is efficiently streamlined through more than 17,750 Bank of America ATMs and 43,000 Allpoint^® Network surcharge-free ATMs and complete cash access at more than 5,700 Bank of America banking centers that offer a minimum of one surcharge-free withdrawal per pay period.

“Employee acceptance and enthusiasm are necessary before employers can realize the benefits of a completely electronic payroll distribution,” said Tom Bell, chief executive officer, Bank of America Merchant Services. “The Bank of America-branded Money Network^® Paycard and the Money Network™ Check enable employers to introduce a payroll distribution program with immediate appeal and recognition for all of their employees.”

The features and advantages that have historically been distinctions of the Money Network^® Service are now combined with the strength and reach of Bank of America’s ATM network and banking centers. Employees using the Money Network^® Service have long enjoyed access to the more than 43,000 Allpoint^® Network surcharge-free ATMs in the United States and beyond, as well as free check cashing at more than 6, 800 retail Money Network^® check-cashing partner locations. With the launch of the Bank of America- issued Money Network^® Service employers can provide their employees the additional benefits of:

• The Bank of America-branded Money Network^® Paycard, carrying the most widely-recognized name in banking
• More than 17,750 in-network Bank of America ATMs
• More than 5,700 Bank of America banking centers for free encashment of the Money Network Check

“Payroll distribution can be costly and complex for any business,” said Mark Herrington, executive vice president of Global Product Management and Innovation, First Data. “The Money Network Service helps reduce the expense burden for companies while enabling 100 percent electronic pay and payroll compliance in all 50 states.”

For employers, the Money Network^® Payroll Distribution Service lowers payroll expense by making employer-printed checks optional. It also provides employees “pay-to-the-penny” access to their payroll funds with no fees, and handles exception pay and termination pay.

Bell added, “This state-of-the-art payroll program is transforming the payments landscape by streamlining administrative functions for employers, providing reliability and unparalleled convenience for employees and substantially reducing costs for both, nationwide.”

About Bank of America Merchant Services

Bank of America Merchant Services is a premiere payments company providing the technology, innovative products and industry track record of First Data with the relationship strength, geographical coverage and prominent global brand of Bank of America to serve existing and future clients. This has made Bank of America Merchant Services the number one-rated electronic payments processor in the industry.¹ Bank of America Merchant Services delivers a comprehensive suite of payment solutions – including point of sale payments, gift card and loyalty programs, ecommerce solutions, terminals and point-of-sale solutions – to merchants of all sizes. The company has an expansive geographic footprint with more than 350,000 merchant relationships across the United States, processing more than 8 billion transactions every year. www.bankofamerica.com/merchantservices.

About First Data

Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.

Sino Payments and TAP Investment Group to Merge

TAP operations, clients, and revenues across Asia to merge into Sino Payments

HONG KONG, Dec. 8, 2011 /PRNewswire/ -- Sino Payments, Inc. (OTCBB: SNPY) today announced that it has signed an agreement with 100% of the shareholders of TAP Investment Group to merge all TAP operations into Sino Payments. 

The newly restructured Sino Payments (OTCBB: SNPY) company after injection of all TAP assets and operations will be 51% owned by TAP Investment Group and will generate an expected USD 4million in total gross annual revenues and will be profitable on an operating basis immediately upon closing of the transaction which is expected by Feb. 2012 month end.

TAP clients include some of the largest and most well known Asian retail merchants including:

• AS Watsons Group (Hong Kong, China) 9,500 locations in more than 37 countries
• Sogo Department Stores (Hong Kong)
• PCCW (Hong Kong) Hong Kong's largest Telecom Fixed Line and Mobile Operator
• CTM (Macau) Macau's largest Telecom Fixed Line operator
• Robinsons Retail Group (Philippines) 2nd largest retail operator in the Philippines with approx. 1,000 multi-format stores (Toy R Us, Robinsons Supermarket. Robinsons Department Store, Handyman, etc.) 

Sino Payments President and Founder, Matthew Mecke, stated, "This merger announcement with TAP Investments Group and its' various divisions is the culmination of some 4 years of work with discussions going on and off throughout that time.  At this signing stage, we are very excited about the forward prospects and have many customer and revenue opportunities we will be laying out to first our customers and later our investors and the public as and when we conclude customer agreements and of course upon the completion of the terms of this merger agreement scheduled to be wrapped up and effective as of March 1, 2012."

Calinda Lee, General Manager of TAP Services (HK) Ltd., added, "As a private company we have been successfully building our business in Asia and specifically Greater China for the last 25 years.  With this merger agreement to merger our operations and efforts into Sino Payments, we are taking a very long term step to move our activities to a new international level in terms of both growth and in terms of our international operations and plans.  Our staff are excited about the new possibilities for our combined future under the new Sino Payments banner."

About TAP Group (www.tap-group.com.cn)

TAP Group is a leading provider of customer-centric solutions for the retail industry. By integrating market-leading Point-of-Sales/Point-of-Interaction (POS/POI) and retail CRM solutions, TAP provides retailers with the capability to offer a consistent shopping experience across all channels, all the time, enabling them to easily and effectively manage the customer lifecycle on a one-to-one basis.

TAP Group is Headquartered in Hong Kong with offices in Macau, Shenzhen, Guangzhou, Shanghai, Beijing, and Manilawith over 200 staff.

About Sino Payments, Inc. (www.sinopayments.com)

Sino Payments is a US public company providing credit, debit, stored value, loyalty, and other financial data processing services to customers primarily in Asia.  Sino Payments focuses on providing IP credit and debit card processing and related financial data processing services to large retail chains, including supermarket chains and large regional multinational retailers, in China and throughout Asia.

Go Taggle Announces Release of Innovative Mobile Shopping App

Taggle shopping app now available on the Apple Appstore and Android Market. Shoppers can obtain product reviews, information and deals simply by scanning any type of barcode or nearfield RFID tag. With Taggle, retailers and brands can execute innovative mobile promotions and gain actionable insight into consumer browsing and sharing habits on social networks.

BOSTON, Dec. 8, 2011 /PRNewswire/ -- Today Go Taggle LLC announced the release of Taggle®, an innovative mobile application that lets shoppers share, rate, and review products. Taggle is built on the Taggle Mobile Cloud, an Amazon-based web service that allows retailers and brands to communicate product information, coupons and deals to mobile users based on products they like and share. The Taggle mobile application is available on Apple iPhone, iPad, iTouch, as well as Android-based devices.

Shoppers can obtain product reviews, information and deals simply by scanning any type of barcode or QR-code. It also supports the emerging nearfield communications or NFC, a core technology in the emerging mobile wallet from vendors such as Google and the ISIS consortium. This technology allows users to simply wave their device at a mobile tag to connect with a retailer or brand's social and mobile web presence. Taggle allows shoppers to share what they buy and what they want on popular social networks such as Facebook and Twitter, giving retailers significant insight into the social buzz around their product offerings and marketing programs. For shoppers, Taggle is a useful and fun tool to help them get informed about what they want to buy.

According to Jupiter Research, "The involvement of the mobile device in the shopping experience begins well before the purchase transaction, continues through the in-store experience and then beyond. Mobile therefore plays a pivotal role in both customer acquisition and customer retention."

"The goal of Taggle is to enhance the shopping experience to the benefit of the consumer and retailers that serve them," statesDennis Ladd, President and Founder of Go Taggle, LLC. "With Taggle's repository of information on over six million products, retail stores can easily promote products and services through social media and reach customers whether they are in the store, at home, or on the go."

For more information on Taggle, visit http://www.gotaggle.com. To try out Taggle on Android, download Taggle on itunes or the android market.

Media Contact:
Mike Donahue
Mike(at)gotaggle(dot)com
617-633-1661

SOURCE Go Taggle LLC