CA-based Yodlee reports that its proprietary “DirectPay” card payment network now supports over 300 national and regional billers . The 300 “DirectPay” billers represent over 40% of major U.S. billers by volume and gives consumers the opportunity to pay nearly half of their bills by card each month. Since a Yodlee “DirectPay” payment averages over $125 per bill paid, financial institutions can generate $30 or more in new interchange revenue per bill per year. With Yodlee’s extended biller coverage, a typical consumer could elect to pay between three and five bills per month with his/her card resulting in the generation of new interchange revenue of up to $150 or more per consumer per year. Yodlee “BillPay PayItAll” and Yodlee “DirectPay” are available as fully hosted, partially hosted or enterprise based solutions.Details
e-Smart Technologies and IVI Smart Technologies have launched the
“I AM” Super Smart Card for the Samsung S1 Corporation. With the
“I AM” card, Samsung will deploy 20 million of the units, will provide
and management services for credit card and EFT-POS terminal monitoring.
Moreover, the new card and “Super Smart Card” system provide an
on-card sensor for biometric ID verification across various sectors,
including government, healthcare and corporate security, while Samsung S1
provides advanced smart cards for communication services.
Alliance Data Systems Corporation and InterContinental Hotels Group (IHG)
have signed a multi-year renewal agreement to sponsor Alliance Data’s
“Canadian AIR MILES Reward Program”. IHG has over 3,900 partner
hotels around the world for which “AIR MILES” collectors have been able
to earn reward credits toward night stays through the “IHG Priority Club”
since 1994. Nearly 70% of Canadian households participate in the “AIR
MILES Reward Program”, which is composed of participation from over 100
sponsors and can be redeemed for over 800 different rewards. With these
recent renewal agreements, consumers can depend on the sustainability of
the program. Alliance Data manages over 120 million consumer relationships
for North American companies and employs over 9,000 associates at more
than 60 locations worldwide while InterContinental Hotels Group PLC
represents over 585,000 guest rooms in nearly 100 countries.
Scotiabank’s ScotiaStar Network has partnered with Mazda Canada
to provide 5X rewards when certain purchases are made with
automobile company. These purchases include parts, service and
automobile down payments. The free ScotiaStar Network provides
Scotiabank VISA cardholders with automatic rewards, following
enrollment, for a convenient rewards solution. Scotiabank has over
60,000 employees, serving nearly 12.5 million customers across nearly
50 countries, and had $412 billion in assets for 2007 while Mazda Canada
has nationwide network of 160 dealerships.
UT-based Allegiance has released a new white paper entitled “Buying Loyalty: Do Rewards Programs Translate Into Customer Engagement?” According to the paper, rewards programs can add value to the customer experience. However, by themselves, rewards programs cannot create the emotional attachment that brings true customer engagement. Engagement is built over time and comes from creating mutually beneficial relationships with customers. One of the keys to creating relationships is providing customers with direct access to company decisions makers though a feedback management system that demonstrates the company is listening to their concerns. The paper also discusses the three factors used to determine the effectiveness of rewards programs, including cost, data and program evolution. Allegiance is a provider of enterprise feedback management solutions designed to drive growth and increased profitability through improved customer loyalty, employee retention and engagement.Details
On Tuesday, March 11th, Bob Selander, President and Chief Executive Officer at MasterCard, will participate in JPMorgan’s “Payment Processing Day.” A listen-only live audio webcast will be accessible through the Investor Relations section of the MasterCard website. His session will begin at 9:00 a.m.(EST) and will last for approximately 60 minutes.Details
Citi and Vodafone have renewed their the partnership and have launched the “Vodafone One VISA” credit card exclusively for subscribers of the “Vodafone One” reward program. The free co-branded card combines the advantages offered by all Citi credit cards together with the possibility to accumulate one “Vodafone One” point for each 20
euros spent. Furthermore, upon activation of the card, the cardholder
receives 100 points as a welcome bonus. The card also offers several free insurance coverages: “Theft and Loss,” which protects the holder in case of fraudulent use of the card, including on-line shopping 24 hours before the complaint; “Security Purchases” covers in case of damage or theft of the goods purchased with “Citi Vodafone One VISA,” up to 90 days after the date of purchase or delivery.
Las Vegas-based Global Cash Access reported fourth quarter revenues of $144.0 million, an increase of 1.5% over 4Q/06. Net income in the fourth quarter was $0.7 million, down 86.8% from the fourth quarter of 2006. Included within operating expense in the fourth quarter is $4.3 million of costs associated with the internal investigation conducted by the Audit Committee of the Board of Directors, $7.9 million of costs associated with the accelerated vesting of stock options and restricted stock of former executives, and $0.8 million of cash based severance for terminated executives. Cash advance revenues were up 1.4%, to $76.0 million. ATM revenues were flat from 2006 at $56.5 million. Check services revenues were $8.2 million, an increase of 12.1%. For complete details on GCA’s latest performance visit CardData ([www.carddata.com]).
BMW of North America and GE Money have signed an exclusive relationship that brings the GE Motor Club roadside assistance program to BMW and MINI owners in the U.S. The GE Motor Club will actively support the value of the BMW and MINI Mobile Assistance Program. This program provides BMW and MINI owners with factory-trained technicians and branded roadside-equipped vehicles standing by for on-site assistance with most light duty services. The Partnership Marketing Group administers the GE Motor Club program.Details
CU Business Capital and Postilion have signed Premier FCU based in Greensboro, NC as a new credit union client. Premier Federal Credit Union is leveraging the marketing relationship established last year between CU Business Capital and Postilion to deploy online member business services. Postilion and CU Business Capital together provide a business services program to help credit unions expand membership and asset growth with solutions like Postilion’s Online Member Business Services solution and CUBC’s remote deposit capture. CUBC is a national CUSO offering business lending, business deposits, cash management, remote capture, merchant services, business debit, credit card, training, and consulting. Postilion, a division of S1 Corporation , is a provider of integrated solutions for self-service banking and payment processing.Details
Mobiclear identity protection has signed agreements to sponsor the
“Southeast Asian Cross Border Fraud Convention”, which will be held on
February 29th-March 1st. Additionally the convention will host the 14
member banks of the Credit Card Association of the Philippines
(CCAP), providing what Mobiclear sees as an opportunity to introduce
banking products in the region, to which the organization hopes to
eventually contribute transaction security. Moreover, the MobiClear
provides anti-fraud identity solutions around the world, which the payment
security provider estimates a growth of $20 billion per annum.
Global Cash Access has signed a deal to acquire Certegy Gaming Services from Fidelity National Transaction Services. GCA will acquire all of CGS’ issued shares of stock for a purchase price of $25 million, and CGS will become a wholly owned GCA subsidiary. In addition, GCA will replace CGS’ cash currently held in CGS’ ATM machines and cages located at its customer premises. GCA will gain approximately 100 new employees as a result of the acquisition. CGS provides cash access services to approximately 130 gaming properties in the U.S. and the Caribbean. Goldman, Sachs & Co. acted as financial advisor to GCA and Morrison & Foerster LLP acted as legal advisor to GCA.Details