CreditCards.com: Weekly Credit Card Rate Report

 

AUSTIN, Texas, Sept. 7, 2011 /PRNewswire/ -- Interest rates on new credit card offers stayed at record highs this week, according to the CreditCards.com Weekly Credit Card Rate Report.

The average is composed of 100 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category. Introductory (teaser) rates are not included in the calculation.

Rates for card categories tracked by CreditCards.com are listed below:

Credit Card Averages

	Avg. APR	Last week	6 months ago
National Average	14.94%	14.94%	14.66%
Low Interest	10.73%	10.73%	11.18%
Balance Transfer	12.73%	12.73%	12.80%
Business	12.91%	12.91%	12.91%
Student	13.77%	13.77%	13.42%
Cash Back	14.34%	14.34%	13.45%
Airline	14.31%	14.31%	14.39%
Reward	14.57%	14.57%	14.33%
Instant Approval	15.99%	15.99%	15.99%
Bad Credit	24.96%	24.96%	23.95%
Source: CreditCards.com
Updated: 9-7-2011

The average annual percentage rate (APR) on new card offers remained at 14.94 percent for the second straight week. That's the highest since we began tracking rates in 2007. The previous record was 14.91 percent, set in July.

Sporting goods store Cabela's changed the top end of the APR offered for Cabela's Club Visa from 18.18 percent to 18.21 percent. However, we only use the low end of ranges in our calculations, so the move did not affect the national average.

Cabela's chief financial officer Kevin Werts said the change was due to an increase in Libor, the British equivalent of the U.S. federal funds rate. When Libor moves, the Cabela's card's APR -- and APRs of all cards tied to Libor -- moves by the same amount.

The CreditCards.com credit card rate survey is conducted weekly, using offer data from the leading U.S. card issuers' websites. Introductory offer periods and regular interest rates will vary with applicants' credit quality and issuer risk-based pricing policies.

About CreditCards.com

CreditCards.com is the leading online credit card marketplace connecting consumers with multiple credit card issuers, including a majority of the 10 largest in the United States, based on credit card transaction volume. CreditCards.com, http://www.creditcards.com, enables consumers to search for, compare and apply for credit cards and offers credit card issuers an online channel to acquire qualified applicants.  

SOURCE CreditCards.com

AuthenTec TouchChip Fingerprint Sensors Selected for BI2 Technology’s New MORIS™ Multifactor Mobile ID Terminal for Law Enforcement

• Provides Android and iPhones with Tri-modal Mobile ID capability
• FIPS 201-compliant TCS1 TouchChip module adds fingerprint identification capability to MORIS’ iris and facial recognition capabilities

MELBOURNE, Fla.--(BUSINESS WIRE)--AuthenTec (NASDAQ: AUTH), a leading provider of security and identity management solutions, announced today that its TCEFC1 TouchChip module with the FIPS-201 approved TCS1 TouchChip® fingerprint sensor adds fingerprint identification capability to BI2 Technology, LLC’s (www.bi2technologies.com) new Mobile Offender Recognition and Identification System (MORIS™) which is now entering mass production for shipment to police and law enforcement agencies in the U.S. The lightweight MORIS™ device attaches to a smartphone to allow police in the field to quickly identify criminals, accident victims or lost or missing persons through three means of biometric identification: fingerprint, iris and facial recognition.

“Our TCS1 sensor has been the preferred choice for mobile ID platforms such as the lightweight and innovative MORIS™ device due to TouchChip’s thin package design, low power consumption and compliance with government standards.”

AuthenTec’s TCS1 module, mounted on the back of the MORIS™ mobile ID terminal, allows police to capture high resolution (500 DPI) fingerprint images which are encrypted and transmitted for comparison against fingerprints of known criminals. Police can use MORIS™ to identify suspects while in the field, greatly increasing the potential that wanted criminals, accident victims or lost/missing people will be identified. This is particularly important since many criminals are using increasingly sophisticated forms of false identification.

“We believe that the MORIS™ mobile ID terminal is a true game changer for law enforcement, and we appreciate the outstanding fingerprint sensor technology that AuthenTec adds to this device,” said Sean Mullin, CEO of BI2 Technologies, LLC. “AuthenTec’s TCS1 TouchChip provides the high-resolution fingerprint images required for comparison to the FBI’s huge database of fingerprints, allowing police in the field to make quick and positive fingerprint identification on the spot. Only AuthenTec offered the selection of sensor and interfaces that enabled us to easily integrate the fingerprint sensor into MORIS™ with very little technical effort or risk.”

“The mobile ID market is a fast growing market in which BI2’s MORIS™ breaks new ground. We are pleased that our TouchChip sensor technology has been selected as part of this innovative, multi-module mobile biometric device,” said Mike Chaudoin, AuthenTec Director of Government and Access Control. “Our TCS1 sensor has been the preferred choice for mobile ID platforms such as the lightweight and innovative MORIS™ device due to TouchChip’s thin package design, low power consumption and compliance with government standards.”

MORIS™ is the world's first wireless, tri-modal biometric system on a smartphone. This 12.5 ounce Smartphone transforms an iPhone or Android phone into a multi-modal biometric mobile ID terminal. The first production shipments of the MORIS™ devices will begin shipping to approximately 40 U.S. counties beginning in the fall of 2011. MORIS™ was included in Popular Science’s ‘Best of What’s New’ listing as one of the 100 best innovations of 2010.

AuthenTec’s TCS1 is the world’s only silicon fingerprint sensor to meet the FBI’s strict image quality requirements for Federal Information Processing Standard 201 (FIPS 201) required for personal identity verification. Whether authenticating holders of national ID cards or securing access to government facilities, AuthenTec technology is used around the world to provide high levels of security. The Company's complete offering for mobile and network security and identity management includes fingerprint sensors, identity management software, hardware IP, and encryption software for mobile and networking applications. AuthenTec solutions ensure security and user identity from the client to the cloud, and are deployed by the world’s leading companies including Alcatel-Lucent, Cisco, Fujitsu, HBO, HP, IBM, Motorola, Orange, Samsung, Siemens, and Texas Instruments among many others.

About AuthenTec

AuthenTec is the world’s #1 provider of fingerprint sensors, identity management software, and embedded security solutions. AuthenTec solutions address enterprise, consumer and government applications for a growing base of top tier global customers. Already shipped on hundreds of millions of devices, the Company's smart sensor products, software and embedded security solutions are used virtually everywhere, from the PC on your desk to the mobile device in your hand to the server in the cloud. AuthenTec offers developers and users secure and convenient ways to manage today's rapidly evolving digital identities and security needs. For more information, visit www.authentec.com or follow us at twitter.com/authentecnews.

About BI2 Technologies, LLC

BI2 Technologies, LLC (“BI2”; www.bi2technologies.com) develops and sells biometric identification systems and applications used throughout the world. In 2007, BI2 (BI2 is short for short for Biometric Intelligence and Identification) introduced numerous biometric based law enforcement tools and applications for inmate intake and booking, inmate release tracking, access control; sex offender registration and tracking, and various gang related tools for ongoing registration and tracking. The Company’s patented and patent pending technologies focus on iris recognition technologies and are designed as complementary tools to existing fingerprint technologies and biometric systems in use today. All of BI2‘s product lines seamlessly integrate with most jail management systems, records management systems, access control systems and/or security systems in use today. BI2‘s innovative, multimodal biometric systems have been endorsed by the National Sheriffs’ Association (“NSA”), the National Association of Triads (“TRIAD”), and the American Association of Ophthalmologists.

NEBA Implements Branch Payment Module To Assist Banks That Accept Credit Card Payments

Branch Payment Module Facilitates Fast, Convenient Credit Card Payment Posting

WAKEFIELD, Mass.--(BUSINESS WIRE)--NEBA today announced it has implemented improvements to Access Info, its Internet-based portal for credit card issuers. With the addition of the Branch Payment Module, banks that accept credit card payments at their branches now have the ability, via the Internet, to enter their own payment data. As part of the Branch Payment Module, the system automatically transmits for same day processing payment data entered by 5:00 PM EST.

“The Branch Payment Module is time-saving and convenient for bank personnel. Any bank employee with a secure password and user name, regardless of location, can now input credit card payments.”

According to Ted Keith, President and CEO of NEBA, “The Branch Payment Module is time-saving and convenient for bank personnel. Any bank employee with a secure password and user name, regardless of location, can now input credit card payments.” Added Mr. Keith, “The tool is intuitive, simple to use, and requires minimal training.”

Branch Payment Module is a web-based solution for the input of payment data by financial institution personnel or tellers who receive credit card payments. Banks benefit in that the tool is time saving, easy to use and facilitates the expedient processing of credit card payments.

About NEBA

Headquartered in Wakefield, Massachusetts and founded in 1969 as one of the twelve original MasterCharge Associations, NEBA provides financial institutions in the U.S. and Caribbean a full range of high-quality credit card issuing and merchant acquiring programs, products, and services, as well as the framework, support, and educational assistance banks need to operate profitable, effective payments card programs that enhance customer satisfaction and loyalty.

NEBA members have access to the best in card-processing solutions including MasterCard and Visa cards. NEBA’s unique bundled programs are designed to speed program implementation and minimize the need to allocate bank resources. For more information about NEBA’s card and card processing solutions, please visit neba.com.

Cardlytics Closes $33M of Expansion Capital and Announces Long-Term Global Strategic Alliance for Transaction-Driven MarketingTM with Groupe Aeroplan

September 08, 2011 07:42 AM Eastern Daylight Time 

ATLANTA--(BUSINESS WIRE)--Cardlytics, the pioneer of transaction-driven marketing™, announced today that it has signed a long-term global strategic alliance with Groupe Aeroplan, a global leader in loyalty management. As part of the alliance, Groupe Aeroplan and existing investors are injecting an additional $33 million in capital to fund U.S. and International growth.

“Given how the Cardlytics solution so fundamentally changes how marketers can invest to grow their business with confidence, it is going to become a global solution”

“Transaction-driven marketing^TM is an incredibly powerful channel for retailers of all sizes. Cardlytics drives store volume more effectively than any untargeted daily deals provider. It pioneered the convenience of offers linked to the payment card. However, beyond this, transaction-driven marketing^TM provides an unmatched level of targeting and measurability,” said David Perdue, Cardlytics Board Member and former Chairman and CEO Dollar General and Reebok Brand. “Marketers know they are reaching the right customers with the right message and can precisely measure the results during a campaign and over-time so they have absolute confidence in the ROI. I would love to have had this level of marketing precision when I was with Dollar General and Reebok.”

Cardlytics is the leader in transaction-driven marketing^TM. Through the Cardlytics platform, retailers nationwide are presenting consumers with relevant offers via trusted electronic banking channels including mobile, SMS, email and on-line banking. Cardlytics will reach 70% of all U.S. households in Q1 2012.

“Given how the Cardlytics solution so fundamentally changes how marketers can invest to grow their business with confidence, it is going to become a global solution,” said Scott Grimes, Cardlytics’ CEO. “Groupe Aeroplan is an organization that deeply appreciates the needs of sophisticated marketers throughout the world and accelerates our ability to serve retailers and financial institutions globally.”

Cardlytics’ solution is groundbreaking in the world of marketing. By deploying technology within partner financial institutions, Cardlytics can leverage all of a household’s purchases to target and measure marketing in a way that full protects consumer privacy and financial institution data. All of this is done in a ‘pay for performance’ model thereby eliminating all risk for the merchant.

Groupe Aeroplan owns Aeroplan, Canada’s premier coalition loyalty program; Carlson Marketing, an international loyalty marketing services, engagement and events provider; and Nectar, the United Kingdom’s leading coalition loyalty program. Additionally, it operates LMG Insight & Communication, an international customer-driven insight and data analytics business; holds majority equity positions in Air Miles Middle East and Nectar Italia; and a minority position in Club Premier, Mexico’s leading coalition loyalty program. As such, its investment positions Cardlytics to capitalize on its U.S. dominance and greatly accelerate its level of growth internationally.

“We heard first-hand from Cardlytics' bank and merchant partners about the impact that Cardlytics’ transaction-driven marketing^TM is making,” said Rupert Duchesne, President and Chief Executive Officer at Groupe Aeroplan. “Banks and their customers are benefitting from great rewards programs but the biggest impact is on the merchants, who are able to leverage market insights, targeting and measurement that is ground-breaking. We are very excited to take this global.”

This latest round of funding marks the fourth successful funding event for Cardlytics as it continues its phenomenal growth providing rewards program for financial institutions. Current investors including Canaan Partners, Polaris Venture Partners, TTV Capital, ITC Holdings and Kinetic Ventures are all participating in this round of funding. Morgan Keegan Technology Group advised Cardlytics on this financing. The company is consistently recognized by the industry, most recently as a Red Herring Global 100 Winner, a Top Ten Financial Service Best Practice by Forrester and a Judge’s Choice Award winner for 2011 by PayBefore.

“Our company’s history has been defined by consistent growth and industry acceptance, which validates our belief that transaction-driven marketing^TM represents the evolution of direct marketing to consumers,” said Lynne Laube, President and COO of Cardlytics. “As we look beyond our own country to business opportunities abroad, Groupe Aeroplan is an ideal partner to help us realize that vision.”

About Groupe Aeroplan

Groupe Aeroplan Inc., a global leader in loyalty management, owns Aeroplan, Canada’s premier coalition loyalty program, Carlson Marketing, an international loyalty marketing services, engagement and events provider , as well as Nectar, the United Kingdom’s largest coalition loyalty program. Groupe Aeroplan also operates LMG Insight & Communication, an international customer-driven insight and data analytics business. In addition, Groupe Aeroplan has majority equity positions in Air Miles Middle East and Nectar Italia as well as a minority position in Club Premier, Mexico’s leading coalition loyalty program. For more information about Groupe Aeroplan, please visit groupeaeroplan.com.

About Cardlytics

Cardlytics is the pioneer and leader of the cutting edge field of transaction-driven marketing^TM, expected to grow into a multi-billion industry in the US over the next four years, according to the Aite Group. The company's unique advertising platform enables banks to deliver rich, relevant rewards to its customers based on purchasing history while fully protecting their privacy. The platform is entirely merchant-funded with advertisers targeting consumers based on spending patterns: where, how much and how frequently they spend at a store and in the broader retail category. Since its founding in 2008, Cardlytics has been a leader of innovation with recent accolades including being named one of the 100 most innovative private companies in the world by Red Herring as well as the "#1 Best Practice" in digital finance by Forrester Research. For more information about Cardlytics, visithttp://www.cardlytics.com.

Anoteros, Veritec Announce Joint Venture Agreement

September 08, 2011 09:15 AM Eastern Daylight Time 

HARBOR CITY, Calif.--(BUSINESS WIRE)--Anoteros, Inc. (OTCBB: ANOS) announced today a joint venture agreement with Veritec Financial Systems, Inc. (VTFS), a wholly owned subsidiary of Veritec, Inc. (OTCBB: VRTC) of Golden Valley, MN.

“We expect to begin generating revenues in 2012 through the marketing of mobile wallets, virtual accounts, credit, debit, prepaid and gift cards,” according to Anoteros President and CEO Michael J. Sinnwell, Jr. “Prior to recording sales, Antero Payment Solutions personnel will take approximately 30 to 60 days to install and test our Antero SVS third-party processing platform with the VTFS system,” Sinnwell said.The agreement grants Veritec the right to use Antero SVS, a proprietary Third Party Processing platform, through Antero Payment Solutions, a wholly-owned subsidiary of Anoteros. In exchange, Veritec plans to engage Antero under its Independent Sales Organization (ISO) and Processor Agreement with a major prepaid issuing bank and an international card-processing network.

Antero Payment Solutions is to work with VTFS to provide a total account experience for customers. This includes 24-hour reporting capability for sales tracking, revenues to providers and instant communications with merchants and customers concerning such information as number of accounts activated, total value of accounts, flow of customer activity and transactions processed.

“This relationship will allow Anoteros and Veritec to immediately expand its products to other markets that have not yet been able to offer a Prepaid Access (Stored Value)-type card program,” according to Van Tran, Chief Executive Officer of Veritec.

“With our partnership, we can provide a full turnkey 'end-to-end' solution for credit, debit and prepaid access card programs that can be seamlessly integrated and have the flexibility to include applications, such as: mobile wallets, bill payment, virtual stored value online accounts, overdraft protection, money remittances, contactless/NFC or other mobile payments and card/account holder services, among other things,” she added.

ABOUT VERITEC/VERITEC FINANCIAL SYSTEMS

Founded in 1982, Veritec offers a patented line of encoding and decoding software products that utilize the 2-D Matrix Symbology™, which allows users to create, apply, store or transmit unique identifiers directly on the products or to an electronic device, which enables automated manufacturing control, as well as identification, tracking and collection of data via cameras, mobile phones, readers and scanners. The collected data can then be stored in the 2-D barcode available for contemporaneous verification or other user-definable purposes. Veritec also offers its “blinx On-Off™” debit card and other stored-value debit based products with strategic partners. For further information, go to: www.veritecinc.com;www.vtfs.com; www.blinxcard.com.

ABOUT ANOTEROS/ANTERO PAYMENT SOLUTIONS

Antero Payment Solutions, Inc., a wholly-owned subsidiary of Anoteros, Inc. (OTCBB: ANOS), is a provider of information management and electronic commerce systems for the financial services industry. Anoteros has developed a wide range of e-commerce platforms to ensure secure electronic payments for checking, debit card, prepaid card and mobile payment applications; providing merchants with opportunities for lower cost structures and the potential to increase their client bases. For further information, go to:www.anoterosinc.com.

Updated 2011 Report on the $40 Billion US Financial Transaction Processing Industry

DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Financial Transaction Processing" report to their offering.

The US credit card processing industry includes about 2,000 companies with combined annual revenue of about $40 billion. Major companies include Alliance Data Systems, Banc of America Merchant Services (a joint venture between Bank of America and First Data), Global Payments, Heartland Payment Systems, and Total System Services. The industry is highly concentrated: the top 50 companies account for about 85 percent of industry revenue.

Competitive Landscape

Demand is driven by consumer spending. The profitability of individual companies depends on efficient operations, as services are sold largely based on cost. Large companies have economies of scale in processing and typically can provide more services; small companies can compete by specializing in industries and providing custom services. The business is capital-intensive: average annual revenue per employee is about $400,000.

Products, Operations & Technology

Processors provide transaction services to banks that issue credit cards and to merchants that accept credit card payments. Merchant products include authorizing, capturing, and settling merchants' credit and debit card transactions, and handling chargebacks. Chargebacks occur when a consumer disputes a charge and charges it back to the merchant. Processors also sell or lease point-of-sale (POS) terminals. Card issuer products include transaction authorization and posting, statement generation and printing, and card embossing.

Large processors such as First Data Corporation and Total System Services provide services to both sides of the transaction.

Key Topics Covered:

Industry Overview

Quarterly Industry Update

Business Challenges

Business Trends

Industry Opportunities

Call Preparation Questions

Financial Information

Industry Forecast

Web Links and Acronyms

For more information visit http://www.researchandmarkets.com/research/7a164f/financial_transact

Source: First Research

Major fraud eludes global powers in Technology Retail and Credit Card Issuing

·         Credit Card telephone security questions- failed

·         Retailer Fraud detection- failed

·         Fraudsters –succeed

Please find below details of an interview with Paul Rodgers, Chairman of Vendorcom, on BBC Radio 4. He comments on issues surrounding Credit Card verbal security questions and also retailer fraud detection systems. This was in the wake of two separate incidents where two pensioners had their Barclaycard details fraudulently obtained and used to purchase goods to the combined value of approximately £20,000. One of the incidents involved 16 transactions of more than £500 each, with the same card, in one day, in the Bristol Apple store.

I am confident that the issues raised are current and would be of interest to your readers and is relevant to recent article themes.

Paul Rodgers is a well known expert in Payments technology and offers impartial advice and support to the UK payments industry. Paul is willing to comment on any of the issues discussed or the wider issues beyond.

http://www.bbc.co.uk/podcasts/series/moneybox

Would you be interested in a telephone interview with Paul to discuss pertinent topics within the UK and Global financial services industry?

Matthew Pears
Senior Account Executive

SkyParlour | 1^st Floor | 19 Spring Gardens | Manchester |M2 1FB | www.skyparlour.com
Tel +44(0)161 817 8711 | matthew@skyparlour.com 

About Vendorcom

Vendorcom, is a cards and payments community, which represents key stakeholders in the cards and payments industry. Its primary aims are to promote innovation and thought-leadership, provide a forum for knowledge sharing and issue resolution for its members and encourage capability development across the cards and payments industry.

Citi Cards Appoints Industry Veterans, Expands Leadership Team

September 08, 2011 09:00 AM Eastern Daylight Time 

NEW YORK--(BUSINESS WIRE)--Citi Cards today announced it has appointed Leslie Gillin as Head of Citi Cards Sales and Marketing, Valerie Greer as Head of Partnerships and Young Adult and Barry Rodrigues as Global Head of Network Strategy and Management. Leslie Gillin and Barry Rodrigues report to Jud Linville, CEO of Citi Cards. Valerie Greer reports to Terry O’Neil, Head of Affluent Segment and Partner Management.

“Accelerating our acquisition marketing and network strategy, and deepening co-brand partnerships are key to our continued success. Leslie, Valerie and Barry bring deep payments expertise and relationships, global perspective and the proven ability to drive growth, and I am confident that their leadership will complement our teams”

“Accelerating our acquisition marketing and network strategy, and deepening co-brand partnerships are key to our continued success. Leslie, Valerie and Barry bring deep payments expertise and relationships, global perspective and the proven ability to drive growth, and I am confident that their leadership will complement our teams,” said Jud Linville, CEO of Citi Cards.

Leslie Gillin will drive the development of Citi Cards’ marketing and customer growth strategies and execution across all channels. In this new role, Gillin will work closely with the product teams and global marketing organization to drive alignment of marketing efforts. Gillin’s leadership will incorporate existing teams focused on customer channels, acquisitions and sales growth as well as partnerships across Citi’s consumer businesses.

Prior to joining Citi Cards, Gillin served in senior executive marketing roles at Bank of America in the U.S. and internationally, including Marketing Executive for Global Card Services, Chief Marketing Officer of Europe Card Services and most recently, Direct Response and Analytical Marketing Executive of the Consumer and Small Business Bank.

As Global Head of Network Strategy and Management, Barry Rodrigues will work with U.S. and regional Citi Cards leadership to develop a global network strategy. He will oversee relationships with all global network partners, such as MasterCard, Visa and American Express. Rodrigues brings significant global experience to this role, and joins Citi from American Express where he was President of Global Network Services (GNS). At American Express, Rodrigues held a variety of leadership positions around the world where he was responsible for major bank issuer relationships and merchant acquiring and processing.

Valerie Greer will be responsible for strengthening key partnership portfolios for the Cards franchise and providing overall strategic direction for these relationships. She will also define the product value propositions, positioning and go-to-market strategies. Greer joins Citi from JPMorgan Chase, where she held numerous executive roles and was most recently General Manager, Partnerships.

About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com.