Gemalto digital security has been appointed by the HSBC Group to supply a comprehensive end-to-end EMV migration service across its 19 markets in the Asia Pacific region. Gemaltoâs services cover provisioning of EMV credit cards, secure personalization services, and business recovery planning services. Gemalto is a recognized industry expert in supporting banks around the world through the EMV migration process with a strong presence in the Asia region facilitated by multiple sales offices, production and personalization sites. It is able to provide all the logistics and processes necessary for a successful implementation to be adequately and securely managed along with strong contingency and backup capabilities for business continuity.Details
Giesecke & Devrient, Oberthur Technologies, Infineon Technologies and INSIDE Contactless have jointly introduced a new security solution for next-generation smart card-based public transport applications. This will build on an open standard now being implemented by the four partner companies and will eventually be governed by an independent body. Companies active in the smart card arena — providers of chips, smart cards, application-specific operating software, reader devices and transportation systems — are invited to join the initiative for the advancement of more secure public transportation applications. With this, the coalition hopes to to bring a number of key benefits to both public transport agencies and smart card industry players, including higher performance and advanced system security for public transport applications, as well as the availability of multiple sources for chip products.Details
Processor and prepaid card provider FNDS3000 has posted first quarter
financials that saw an increase of 1,676% from 2009.
For the quarter ended November 30, 2009, revenues were $77,695, an
increase of $73,320 from $4,375 for the first quarter of fiscal 2009,
reflecting the initial revenue stream from the prepaid card programs.
The net loss for the quarter was $(1,139,660) or ($0.03) per share, an
increase of $87,015 (or 8%) from $(1,052,645) or ($0.04) per share for
the same period in the prior year.
Points International has signed a multi-year agreement with Chase Card Services, the credit card division of JPMorgan Chase. The agreement will allow Points.com’s Integrate product leveraged to facilitate the transfer of loyalty currencies for U.S. cardmembers between Ultimate Rewards and its loyalty program partners, as well as enable new loyalty partnerships. In May 2009, Chase launched Ultimate Rewards, a customer-friendly, easy-to-use rewards program with virtually limitless opportunities to earn and redeem rewards, without earning caps, airfare blackout dates or points expiration. Cardmembers can access Ultimate Rewards via Chase customer service or at a single, comprehensive Web site, www.ultimaterewards.com, that provides maximum simplicity and ease of navigation. Points International reward program management Web site, which was recently named one of the 30 Best Travel Sites by Kiplinger’s, allows consumers to Swap, Earn, Buy, Gift, Share and Redeem miles and points from more than 25 of the world’s leading reward programs.Details
Furniture retailer Rooms To Go has expanded its TD Retail Card Services
private label credit card program. The Rooms To Go credit card will
offer consumers a full menu of same-as- cash and equal pay programs.
NJ-based TDRCS will now direct all facets of the program for the
130-unit chainâs showrooms in metro Atlanta, northern Florida and
Louisiana. TDRCS began serving the retailer in 10 test stores in July,
taking over the private label credit card program administered by
another provider. The conversion to TDRCS was expanded to other
locations in stages over subsequent months to reach the current level.
FL-based Rooms To Go introduced the concept of displaying and packaging
furniture in complete room settings. The companyâs designers coordinate
each roomâs colors, fabrics and accessories.
POSPaper.com POS supplies has introduced its most comprehensive line of thermal paper products in the industry. The company, which in addition to thermal paper rolls also offers credit card supplies, ATM paper, sales slip imprinters, printer ribbons, and more, has seen thermal paper become its number one selling product line as it continues to replace older, less technical applications such as bond paper rolls, carbonless paper rolls, and business forms. With this, thermal paper quality has been improved with specialty grades producing archiving capabilities of up to 25 years or more thanks to newer top coating formulas and manufacturing techniques.Details
Citi has resumed service to corporate customers in Haiti. Citi has
relocated its operations and until further notice, will operate at
ScotiaBank Building, Angle Rues Louverture et Geffrard, Petion-Ville,
Haiti. The Haitian office lost five of its employees. It has operated
in Haiti since 1971. Citi has approximately
200 million customer accounts and does business in more than 140
countries. Through Citicorp and Citi Holdings, 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.
Kiosk provider Continental Prison Systems is installing its EZ Card and
Kiosk products in two Colorado correctional facilities. Clear Creek
County will incorporate a total of two kiosks: one for EZ Booking and EZ
Bail in the booking room area; the other for EZ Money
Load in the lobby area of the jail, allowing friends and family to
place money into the inmate’s trust account, using cash, credit card or
debit card. Montrose County will be using three kiosks: one for the
Work Release program, allowing work release payments via the kiosk;
another for EZ Booking and EZ Bail in the booking room area; the third
for EZ Money Load in the lobby area of the jail, allowing friends and
family to place money into the inmate’s trust account, using cash,
credit card or debit card. EZ Money Load and EZ Bail can also be
accessed remotely via a secure
website or 24/7 bilingual toll-free service number, which accepts
credit and debit cards. The EZ Exit debit card service will also be
initiated by both county
jails during this installation phase, allowing the jails to issue
PIN-based debit cards to all inmates being released, instead of the
usual paper check from the facility.
Discover Financial Services Inks agreement with BC Card Korean payment
network to allow cardholders to utilize the Discover, Diners Club
International and PULSE networks for international purchases and cash
access outside of Korea. The long-term arrangement will result in
increased transaction volume on the Discover, Diners Club and PULSE
networks outside of Korea, where Korean cardholders spent $12.6 billion
in 2008 on international expenditures, according to the Korea Tourism
Organization. BC Card was founded in 1982, is the largest domestic
payments network in Korea with over 32% market share in one of the
world’s top credit card markets and has over 52 million cards in Korea
today issued by 11 financial institutions. This is part of a series of
strategic alliances Discover has entered into strategic alliances with
China UnionPay and JCB to provide valuable access to its acceptance
New research from Aite Group examines the progress in biller direct
and walk-in bill payment vendors.
The biller direct and walk-in bill payment market remains heavily
dominated by in-house processing, although third-party vendors have
carved a niche in handling Web, call-center/IVR, walk-in, and
kiosk-originated payments. Vendors have strong organic growth
opportunities from consumers and small businesses shifting from paper to
electronic payments, as evidenced by the growth of bill payments
processed via the biller direct and walk-in channels.
Vendors mentioned in the report include Alacriti, BNY Mellon, FIS,
Fiserv, IPP of America, JPMorgan Chase, Kubra, MoneyGram, Online
Resources, Oracle, Tier Technologies, and Western Union.
American Express has launched “LoyaltyEdge” and is working with its
business partners to shape loyalty programs. LoyaltyEdge provides
end-to-end services in a one-stop-shop â from designing the rewards
program to providing the redemption options and fulfillment to analyzing
redemption patterns and behaviors to help
inform future marketing strategies. LoyaltyEdge will work with business
partners to understand their loyalty program needs and objectives, and
identify which offerings best meet those objectives. Then, leveraging
American Expressâ vast network of partners, capabilities, and unique
customer insights, LoyaltyEdge will provide an individually tailored
âplug and playâ solution for business partners. LoyaltyEdge can deliver
a full range of loyalty program services based
on partner needs, including: valuable customer insights; program design
expanded loyalty and redemption options as well as fulfillment
capabilities; customer service solutions;
targeted and segmented marketing and loyalty and cost management analytics.
Card fee income as a percentage of total revenue is larger for banks at 54% of total bank revenue when compared to their credit card divisions at 47% of total card revenue. Banks charge loan origination fees, up front mortgage points, investment banking fees, stop payments fees, checking and savings minimum balance account fees and ATM fees, all of which help account for the higher percentage of total revenue and which prime and super prime cards typically do not charge. This, according to an R.K. Hammer 2010 release from a series of six year-end credit card metric reports published each January on how credit card fee income compares with bank fee income, which shows card fee income is escalating rapidly. The Hammer model concludes Credit card fee income will surpass card interest income within the next few years; card interest from revolving loan balances is falling each year in significance to total income compared to fee income; and late fees and over limit fees which presently average $29 per event in our model are forecast to rise to $49 and higher in the coming years.Details