Spain-based La Caixa may have killed off a growing form of ATM fraud–card trapping– with its introduction of contactless ATMs. Technology developed by Fujitsu allows La Caixa cardholders to wave their cards at the ATM’s card reader and then types in their PIN to operate the ATM. This presents a problem to those who attach…Details
CreditCardCompare.com.au have just launched the latest version of its website after listening to feedback from its visitors. There’s considerably improved functionality, more choice and freely available data for people to review before they apply for a new credit card. The new website makes it easier and faster for people to switch credit cards in order to save money or simply optimise their plastic by upgrading to a better performing card. One of the things that Credit Card Compare are keen to explain is that these changes are a direct response to the requests that our visitors. The new Credit Card Compare continues to offer general advice on the Credit Letter Blog.Details
Amadeus announced its participation at Arabian Travel Market (ATM) 2011 to demonstrate its solutions for travel agencies, airlines, airports and corporations, that enhance customer experience and keep pace with their dynamic growing needs. The transaction processor and provider of advanced technology solutions for the travel and tourism industry will be making key announcements at the exhibition and will be present at stand T110, Hall 5, from May 2-5 in Dubai World Trade Center. To mark its 10 years of association with ATM, Amadeus will showcase brighter innovation with the TravelTainment Vision Wall prototype that inspires customers to travel, brand new products such as the Amadeus ePackages – the new Amadeus online tour package management solution.Details
KAL ATM Software has won the Queen’s Award for Enterprise for 2011 in the category of International Trade.The Queen’s Award for international trade recognizes United Kingdom-based businesses that have demonstrated substantial growth in overseas earnings, commercial success and outstanding achievement. KAL has four regional offices and 11 satellite offices and employs professionals from 20 different nations with software certified in over 30 languages. The company provides software solutions to Citibank, China Construction Bank and UniCredit SpA, a Milan, Italy-based bank. KAL software is installed and supported around the world in more than 80 countries, enabling banks of all sizes to reduce costs and improve competitiveness.Details
UPM RFID is launching an extensive selection of RFID NFC tags and inlays to meet the needs of a variety of applications. UPM RFID’s latest NFC products are top performers designed to satisfy the growing demands of NFC application developers looking for readily accessible tags. UPM RFID has released several NFC tag products over the years supporting the latest ICs, and has built a solid reputation globally as a supplier of high-quality, high-volume NFC tags. UPM RFID’s “All-Star” NFC products have been UPM BullsEye(TM), UPM RaceTrack(TM) and UPM MiniTrack(TM). UPM RFID is working with leading NFC smartphone manufacturers to ensure the interoperability of products in various end-uses. As tag functionality and performance are defined in cooperation with device manufacturers, UPM RFID will have greater opportunities to utilize market feedback to match high-quality NFC products to market needs.Details
American Express posted 1Q/11 US Card Services Revenue net income of $555 million. This was up 34% from the year ago figure of $414 million, but down from the $701 million posted the previous quarter. Meanwhile, its International Card Services division reported a 1Q/11 net income of $189 million, up 36% from $139 million a year ago. With this, total revenues net of interest expense increased 2% to $3.6 billion from $3.5 billion and 6% to $1.2 billion from $1.1 billion, respectively, thanks to higher cardmember spending. Overall 1Q/11 net income was $1.2 billion, up 33% from $885 million a year ago, and total expenses- such as marketing, promotion, rewards, cardmember services, and salaries- were up 19%.
Additional items include Global Commercial Services having reported a net income of $184 million, up 116% from $85 million a year ago; its Global Network & Merchant Services posting a net income of $313 million, up 24% from $253 million a year ago; and Corporate and Other putting up a net loss of $64 million compared with net loss of $6 million a year ago, partially reflecting investments in Enterprise Growth Group initiatives. American Express has shown a strong bounce back since the middle of 2009 when it suffered its largest Card Services revenue loss of $153 million(CardFlash Library, 2011-01-26).Details
TCF Financial Corporation posted 1Q/11 net income of $29.7 million, compared with $33.9 million in the first quarter of 2010. With this, card revenues totaled $26.6 million, down 1.8% from 1Q/10 and down $1 million by 3.8% from 4Q/10, thanks in great part to seasonal decreases in sales volume. Meanwhile, the net interest margin was 4.06 percent, compared with 4.21 percent in the first quarter of 2010 and 4.05 percent in the fourth quarter of 2010. Also, its banking fees and service charges only reached $53.5 million, down $12.7 million by 19.1% from 1Q/10 and down $8 million by 13% from 4Q/10. This is a direct reflection of overdraft fee regulations implemented in 3Q/10, a decrease in the number of checking accounts and customers maintaining higher average deposit balances, lower seasonal activity and lower monthly maintenance fees as more customers qualified for fee waivers.
TCF is leading the fight against the Durbin Interchange amendment. Questioning the constitutionality of the Durbin Amendment’s exemption for banks with assets less than $10 billion under the equal protection clause of the U.S. Constitution, TCF is adamant the government’s position on a two-tier pricing system for banks above and below $10 billion in assets will eventually result in a single rate to all banks is speculation on the government’s part.Details
Green Dot Corporation prepaid financial services has launched its new Government Division focused on designing and executing prepaid account programs on behalf of Federal, State and Local governmental agencies in need of payroll and benefit disbursement solutions. The Company subsequently appointed Mark Shifke GM, Government Programs and VP, Special Projects. Bringing with him 27 years’ experience, Shifke served as Managing Director at JP Morgan where he provided strategic and structuring advice in connection with M&A transactions and capital market offerings and VP with Goldman Sachs’ Investment Banking department. He holds an LL.M. in taxation from NYU School of Law, J.D. from Tulane Law School, and B.A. from Tulane University.Details
Wells Fargo is encouraging people to save trees by going paperless in support of Earth Day through resources posted on its Wells Fargo Environmental Forum (blog.wellsfargo.com/environment). Offering such tools as a “Financial Footprint Calculator” by PayItGreen and an Online Statement sweepstakes to win a Nissan Leaf all-electric car, the Environmental Forum offers a Poll of the Month survey about paperless banking. The “Financial Footprint Calculator” allows people to better understand how switching to electronic billing, statements and payments could reduce their environmental impact, which PayItGreen research is encouraging with figures indicating if 20% of households were to switch to electronic bills, statements and payments, 1.8 million trees would be saved annually.Details
Intuit’s iPad-optimized “GoPayment” mobile payment app is now available on the App Store, allowing anyone who sells a product or service to receive payment on the spot with credit card processing. This makes mobile payments easier with a new layout that takes full advantage of iPad’s large display and Multi-Touch interface. Users can also add product photos, making it easier to find a product and complete a sale. The “GoPayment” application also lets users create orders on one screen and review past transactions in one spot.Details
The Wolfgang Puck Fine Dining Group (WPFDG) signed Shift4 card-present payment gateway to process its credit card transactions at seven of its locations, including the iconic Spago restaurants in Beverly Hills, Las Vegas, and Maui. Shift4’s “DOLLARS ON THE NET” allows WPFDG customers the highest level of security as their credit card numbers are now protected by Shift4’s TrueTokenization. This industry-leading technology turns customer card data into an alphanumeric value, meaningless outside of Shift4’s secure, redundant, PCI-compliant data centers. The tokens generated and stored by Shift4 keep WPFDG from having to store sensitive cardholder data and simplifies their compliance with the PCI DSS.Details
Fiserv financial services technology solutions enhanced features and capabilities on its “Relationship Rewards” for Premier bank platform. Offering flexible incentives to recognize and reward a customer’s entire banking relationship, “Relationship Rewards” is focal on helping its clients absorb the impact and adjust to the new financial regulations. In doing so, it seeks to cultivate customer loyalty by rewarding bank customers. With this, banks can choose how to reward profitable customer behaviors, relationships and activities, criteria of which include product relationships, balances, electronic statement delivery, mobile banking, bill payment, direct deposit, point of sale transactions and more.Details