Hypercom has hired Ronald R. Rhodes, previously with Palm, to VP, Global Supply Chain Management and Tim Jones, previously with IXIA to VP, Global Human Resources. Rhodes was SVP of Global Operations for Palm, where he established and directed worldwide supply chain management, including product cost reduction, inventory management and quality organization. This succeeded his role as SVP of Manufacturing & Supply Chain Operations at PSC where he identified, developed and directed key operational initiatives and implemented processes and procedures across all supply chain functions. Jones served for three years as Global Vice President of Human Resources at IXIA where he created, implemented HR metrics, policies, compensation structures and performance management processes. He was also instrumental in increasing the company’s workforce at two offshore entities in Bucharest, Romania and Calcutta, India.Details
Alliance Data Systems has signed a long-term agreement with specialty retailer Hot Topic to provide private label credit card services for its Torrid branded stores. Under terms of the agreement, Alliance Data will provide private label credit card services including account acquisition and activation; receivables funding; card authorization; private label credit card issuance; statement generation; remittance processing; customer service functions; and marketing services for Torrid and compliment and enhance Torrid’s existing “divastyle” customer rewards program with 1 million Torrid customers currently enrolled. Hot Topic is a specialty retailer of young men and women’s apparel, accessories, music and gifts with 690 stores and 2007 net sales of $728 million.Details
Kookmin Bank has announced it will be diminishing its shares of its credit
card unit. With this development, Kookmin plans to transfer shares to the
KB FINANCIAL HOLDING CO to allow the bank to focus on its non-banking
business. For this newly established holding company, Kookmin has
submitted a preliminary application to the the Financial Services
Global Payments and Planet Payment have teamed to provide HSBC Bank
merchants with the “Pay in Your Currency” currency service. This will
provide consumers with immediate payment transaction currency conversion
affording the user the knowledge of the transaction cost in his/her own
funds. These features are projected to be available to users before the
Beijing Olympic Games, which are expected to attract millions of people
from around the world who utilize hundreds of different currencies. Global
Payments provides electronic transaction processing services for payment
cards, verification and recovery to many organizations while Planet
Payment enables processors, acquiring banks and their merchants to accept
transactions in multiple currencies.
SmartCard Marketing Systems has signed supply and fulfillment agreements
with Direct World Convenience Card Inc. of Alberta, allowing its expansion
into the Canadian marketplace. Additionally, these agreements will improve
the supply of prepaid and re-loadable cards to both merchants and
consumers for various uses, given the recent increasing demand and need
specialized applications across Canada. With this, SmartCard Marketing
Systems can now promote brand awareness through its Velocitymoney.com and
Velocitymerchant.com websites in the fresh territory.
HID Global announced its participation in 15 pilot programs utilizing its Fargo HDP instant issuance financial card printing technology with banks and credit unions. More than 100 branches are using the HDP printing technology, producing debit cards instantly for banking customers. The largest of the programs is TD Banknorth, a banking and financial services company headquartered in Portland, Maine, who is piloting Dynamic Card Solutions’ “CardWizard FCP 20/20,” an OEM version of HDP technology in dozens of branches. TD Banknorth is offering customers a flat-panel, or non-embossed, VISA debit card and an individual PIN when they open a personal or business checking account. The cards can be used immediately at ATMs and retailers. TD Banknorth plans to roll out the program to all 600 branches in 2008. Other pilots include a major U.S. bank with 2,000 branches across the country.Details
Fidelity National Information Services has signed processing agreements
with Home Trust Company, for which it currently provides credit card
processing. Under the terms of the new agreements, Fidelity will be
providing Home Trust with merchant processing services such as settlement,
charge-back processing, retrieval services and customer support.
Home Trust Company is a Canadian federally regulated trust
company, offering customers banking and finance services across the
country, while Fidelity National Information Services provides core
processing for 35 of the top 50 global banks, is headquartered in
Jacksonville, FL and serves a total of more than 9,000 financial
institutions in over 80 countries.
According to recent reports from Statistics Canada, Canadian retail sales
have seen unexpected growth for the month of January of 2008.
Specifically, Canadian retail sales showed a growth of 1.5% for the month,
compared to an expected 1.4%, and .6% for the month of December. The
influx in sales were seen largely in building/home supplies stores,
clothing/accessories stores, home furnishings, electronics and a 1.8%
increase in automotive sales.
Montise has launched the “MoniGive” solution to facilitate the
contribution of charitable donations using mobile banking and payments.
Serving as a ‘virtual collection box’, “MoniGive” will allow respective
organizations to connect to the Montise network for the acceptance of
donations from caring consumers. Moreover, the payment system minimizes
integration for participating charitable organizations to ensure up-front
costs are kept to a minimum.
Payment Processing has partnered with CBC Computer Systems and integrated the “PPI PayMover” platform with CBC’s “Decor EXPRESS” software for merchant processing. PPIâs comprehensive solution gives a 360-degree view of the entire payment transaction by including all of the critical products and services such as the PPI PayMover gateway with transaction processing that is seamless, secure, complete support for all transaction processing issues and “Better-than-Bank” merchant account services. In 2007, PPI processed in excess of $4.1 billion VISA and MasterCard payments.Details
CIBC has added chip technology to its VISA cards. CIBC Visa cardholders in Kitchener-Waterloo, Ontario began receiving their chip enabled credit cards as part of an industry market trial. CIBC debit cards will be joining the market trial in the spring. During 2008, CIBC plans to start to roll out chip credit and debit cards to all customers. Already, all CIBC bank machines are chip enabled. This past year CIBC also introduced free value-added safety and security features on all CIBC credit cards through “CIBC CreditSmart,” which helps
clients monitor changes to their credit reports, be aware of potential
fraudulent uses of their credit cards, and deal with identity theft. “CIBC CreditSmart” is unique to the marketplace and CIBC cardholders have responded positively to the offer.
Arab Bank has implemented VASCO Data’s “Digipass GO 3” and “VACMAN
Controller” for its Internet banking service. With this development, the
Bank can provide customers with the capability of conducting efficient
e-banking transactions using the “VACMAN Controller” authentication
platform, which supports over 50 client authentication products and is
easily integrated with existing infrastructures. Arab Bank has a capital
base of over USD 6.9 Billion, Total Assets of USD 38.3 billion and 400
branches in 28 countries while VASCO serves nearly 6,000 companies in over