St. Louis-based marketing solution provider Maritz has created “Rewards Direct”, targeted to rewards-only buyers. “Rewards Direct” is designed to serve the growing number of organizations that handle in-house planning and operations of their large-scale incentive, recognition and loyalty programs, but need help with selection and fulfillment of rewards that inspire and motivate people and is being built subsequent to the recent acquisition of Cascade Promotion Corporation, a privately-held relationship marketing and rewards fulfillment house.Details
Visa credit, debit and prepaid card spending at the “Beijing 2008
Olympic Games” approached $10 million on August 8th, an 11% increase
over one-year ago. Opening Dayâs biggest Visa spenders were from USA,
followed by Japan, Hong Kong SAR, South Korea and the United Kingdom.
Visitors from these five locations accounted for more than half of all
Visa card spend on August 8th. Visa and its client financial
institutions in China also have installed more than 90,000 ATMs and
signed up some 216,000 merchant locations or outlets throughout China to
help prepare for the expected influx of international visitors this
year and beyond. Visa has been a sponsor of the “Olympic Games” for 22
years, and is the exclusive card of the “Beijing 2008 Olympic Games.”
OH-based Diebold reported that second quarter revenue increased 11% year-on-year to $771 million. However, net income slipped slightly for the second quarter to $25.6 million, compared to $26.9 million for 2Q/07. Financial Self-Service revenues, mostly ATMs, increased 15% in the second quarter to $549 million over the prior year quarter. Diebold says work has continued on its strategic global manufacturing
realignment plan to reduce its four-plant global “Opteva” production
footprint down to two primary plants. While Diebold is still finalizing its plans, it has given notice to its employees and the collective bargaining unit representing its Newark, OH-area manufacturing facility that the company intends to close this operation and move all of its production to Diebold’s plant in Lexington, N.C. Most of Lexington’s “Opteva” ATM production lines will be moved to existing plants in China and Hungary. The Newark facility currently employs approximately 100 workers and produces physical security equipment. The company anticipates the product transition and employee reductions to begin in October, and that the Newark-area facility will be closed in the first quarter of 2009. For complete details on Diebold’s latest performance visit CardData ([www.carddata.com](http://www.carddata.com))
A new survey shows that 80% of Americans have not paid an overdraft fee
in the past 12 months. Nearly three-fourths of consumers said their
bank covered the check or debit payment that caused the overdraft fee,
while 27% said their bank did not. According to the American Bankers
Association poll of the 20% who have paid an overdraft fee in the past
12 months, they provided the following responses when asked how many:
27% said one; 25% said two; 11% said three; 8% said four; 5% said five;
13% said six to 10; and 9% said more than 10.
SaaS e-payment provider PaySimple has launched a new online customer
site designed to help customers maximize their investment in PaySimple
2.0 by providing free detailed training on the product’s features and
functionality. The updated customer support and training program helps
customers get support and education quickly and effortlessly. The
program now includes a âTop Questionsâ section, self-service
applications, the ability to open a customer support case online, and
downloadable âQuick Guidesâ for those who need just a short tutorial on
a feature. PaySimple has also tripled the number of live training
TransUnion has appointed Andrew Knight, previously group CEO of its
South Africa operations, as President of international operations.
Knight joined TransUnion in 1994 as
managing director of its credit bureau operations. Before that, he held
several financial management positions throughout South Africa.
Knight attended the University of Cape Town,
South Africa and is fluent in four languages.
Citi and ExxonMobil have partnered to offer a new credit card that features a 15 cents per gallon rebate. The new “ExxonMobil Platinum MasterCard” also earns up to 2% rebates on the first $10,000 in annual purchases and a 1% on other eligible purchases over $10,000. New cardholders earn a 30 cents per gallon rebate on Exxon and Mobil gasoline purchases for the first 60 days. There is no limit on the amount of gasoline rebates that can be earned by consumers. Rebates are automatically credited to cardholders’ statements in $10 increments toward future Exxon and Mobil gasoline purchases made with the card.
According to CardTrak ([www.cardtrak.com](http://www.cardtrak.com)), the current “ExxonMobil MasterCard” offers rebates of 3% on all purchases made with the card at Exxon and Mobil locations and 1% on purchases made everywhere else. (CF Library 6/18/04)
Barclaycard reported pre-tax credit card profits of GBP 388 for the first six months of 2008, compared to GBP 299 for the year ago period. The gain was driven in part by the acquisition of the “Goldfish” business. Barclaycard International contributed over a quarter of Barclaycard’s profits in the first half and over 75% of Barclaycard’s new customers during the period. Income increased 13% to GBP 1.4 billion reflecting strong growth in Barclaycard International and GBP 56 million from the inclusion of Goldfish, partially offset by a decline in UK Cards and FirstPlus. Net interest income increased 15% to GBP 787 million driven by strong growth in international average extended credit card balances, up 40% to GBP 4.2 billion. Margins were unchanged at 6.77%. For complete details on Barclay’s latest performance visit CardData (www.carddata.com).Details
TX-based QSR Taco Bueno is now accepting Mastercard “PayPass”contactless
payment at over 160 locations. Customers can use their MasterCard
PayPass card or device to simply “Tap & Go” to pay for menu items at
the counter or even in the drive-thru. MasterCard PayPass also does not
require customers to sign receipts for purchases under $25, further
speeding up the transaction. A 2007 MasterCard PayPass
Benchmark Study found that about 90% of PayPass-using respondents
were satisfied with their experience, and 71% of PayPass consumers
use PayPass as their primary card for everyday purchases.
Consumer revolving credit continued its upward push in June as
Americans tacked on $5.5 billion in net new debt, mostly credit card
debt, after adding $6.1 billion in the prior month. Revolving consumer
credit has now reached a record $968.4 billion and is growing by 6.8%
per annum. Based on revised figures, revolving debt rose by 7.6% in May
after growing by a mere 0.3% in April. According to data released by the
Federal Reserve, total revolving credit has expanded by $66.2 billion
over the past twelve months. Bank credit card debt (excluding store and
gas credit cards) at the end of the second quarter was about $825
billion or roughly 85% of total revolving credit, according to CardData
(www.carddata.com). Store and gas credit cards had about $109 billion in
outstandings at year-end 2007. At the end of June, Americans were $2586
billion in debt, excluding home mortgages.
REVOLVING CREDIT HISTORICAL ($billions)
Jun 08 May 08 Apr 08 Mar 08 Feb 08 Jan 08
GRWTH: 6.8% 7.6 0.3 7.4 5.3 7.1
$OWED: $968.4 962.9 956.8 956.6 950.7 947.0
Source: Federal Reserve; revised figures as of 8/7/08;
For complete historical data, visit CardData (www.carddata.com)
HSBC reports that in the U.S., its Personal Financial Services business
posted a loss of $2.2 billion for the first six months of this year.
Charge-offs and risk provisions rose by 85% on the first half of 2007 to
$6.8 billion, but declined by 15% compared with the second half.
In U.S. mortgage services, HSBC reduced its portfolio outstandings by
13% during the period to $31 billion, of which around 60% was from
repayments. HSBC noted that the U.S. remains a difficult market and that
its U.S. business is now be focused mainly on cards and consumer
lending. For complete details on HSBC’s latest performance visit
Protx secure online card payment solutions for mail order businesses and
Trustwave on-demand data security provider have partnered to provide
merchants Payment Card Industry Data Security Standard (PCI DSS)
compliance validation. Using Trustwave’s “TrustKeeper” on-demand
compliance management program, Protx will ensure compliance with PCI DSS
which is a payment card industry security requirement for retail and
merchant organizations endorsed by Visa, MasterCard Worldwide, Discover,
American Express and JCB card brands. The Trustwave technology will be
available to merchants needing additional support for PCI DSS compliance.