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Mass issuance campaign for contactless debit cards launched

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ST. PETERSBURG, Fla. (1/29/09)--A mass issuance campaign by PSCU Financial Services seeks to boost credit unions’ use of contactless debit cards. Credit unions that register for the product by June 30 can participate in promotional activities associated with the campaign. There is no minimum number of cards that must be ordered by Dec. 31. Both MasterCard and Visa debit cards are included, PSCU Financial said. “Contactless cards are a valuable tool for acquiring and retaining members and creating greater activation rates,” said David J. Serlo, PSCU Financial Services president/CEO. Spending on contactless payments is expected to exceed $800 million by 2011, according to ABI Research. Contactless terminals are available in fast food restaurants, gas stations, airports, train stations and major hotels, PSCU Financial said. PSCU Financial is a credit union service organization based in St. Petersburg, Fla., that serves 1,100 financial institutions nationwide.

MindBlazer FIs sign up for website TV content

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CHARLOTTE, N.C. (1/29/09)--MindBlazer, a marketing technology company that leverages interactive video and new media for the financial industry, announced Wednesday that 45 financial institutions have signed up to offer MoneyMinutesTV content on their websites. MoneyMinutesTV launched Oct. 29. It provides credit unions and banks with video segments to help educate consumers about their products and encourage adoption of online financial services. One video explains the role of the National Credit Union Administration for credit unions and insurance of deposits at credit unions. The content can be customized to match each financial institution’s brand, and can be placed directly on high-traffic areas of the website. Content can be leveraged through in-branch use, direct mail or in one-on-one sessions with consumers. “We underestimated the demand for the topic,” said MindBlazer President/CEO Ryan Brown. “Financial institutions that we have spoken with say what they benefit from the most is how the segment enables them to communicate directly with their customers, rather than sending them to another site to find information.” Credit unions and banks can visit the MoneyMinutesTV website to sign up for a complimentary segment and learn about other interactive, education-based video content available. “Many successful financial institutions are diverting resources from traditional marketing outlets and making a greater investment in their online channel,” Brown said. “MoneyMinutesTV removes the ‘heavy lifting’ that comes with planning, producing and implementing media content from scratch.” MoneyMinutesTV’s segments are about one to three minutes in length and cover a range of financial topics.

CUTEK offers new CAMS Alerts solution

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MURRIETA, Calif. (1/29/09)--CUTEK, a financial technology development and consulting firm for credit unions, announced a new Compromised Account Management System (CAMS) alert solution. With the solution, credit unions can:
* Receive one or more alert files; * Process CAMS alert files and place a “note record” on all matching cards in the database; * Process any previous CAMS alerts with options to block cards that were not previously blocked, re-order new cards that were not previously re-ordered or generate a file for notices; and * Run the software on any account with a pending block or reorder--due to a CAMS alert--to immediately block or reorder one or more cards on the account.
When credit unions receive CAMS alerts, they usually must track the alerts for each card, block compromised cards, re-order new cards and notify members, CUTEK said. Credit unions recently signing up for the solution include:
* Clackamas FCU, Oregon City, Ore.; * FAA First FCU, Hawthorne, Calif.; * Technology CU, San Jose, Calif.; and * Silver State Schools Family CU, Las Vegas.