VENDTEK & NETWORKIP

VendTek Systems and NetworkIP have signed a software license
agreement to provide U.S. customers with “e-Fresh” software. “E-Fresh”
electronically distributes prepaid products and services to customers, thus circumventing problems associated with physical cards such as the
cost of production, storage and theft. NetworkIP, creator of the software, processes over 2 million transactions daily and is connected to over 100
carriers worldwide providing a prepaid platform, prepaid long distance,
prepaid conferencing, and prepaid VoIP services. VendTek develops
and licenses automated transaction system software supporting
technologies for product delivery efficiency and with this agreement,
expects to launch 2,500 locations.

Details

Merchant Warehouse Explodes This Summer

Boston-based Merchant Warehouse, the first to offer a full suite of credit card processing services and equipment on the Internet in 1998, reports that its merchant account sales this summer are up 65% compared to one-year ago. In July the company added 1,399 merchant accounts, an 84% year-on-year increase. Merchant Warehouse says the key has been cutting out several intermediaries in the traditional sales process, thereby offering credit card processing software, POS equipment, and merchant services at a reasonable price over the Internet. The Company now serves over 50,000 merchants.

Details

FUNDSTECH & PROCARD

FundsTech Corp & ProCard Technologies have signed an alliance to
provide prepaid debit card solutions. With this development, ProCard
will market prepaid card solutions, promoting FundsTech Corp’s prepaid
payroll card, gift card and health card. This development has also
generated a backlog of prepaid cards in South Africa of over 1,100,000
cards for the 13 million unbanked South Africa consumers, with
projections of 800,000 new cards over the next 18 months. FundsTech
Corp provides prepaid debit cards to the over 1 billion working
population worldwide, a market estimated to generate revenue of $100
billion annually. Furthermore, FundsTech’s Cash Card provides remittance,a market estimated to be worth over $100 billion annually.

Details

iGift Print on Demand Kiosk Debuts

Gift card and customer loyalty program provider Smart Transaction Systems has partnered with MA-based Cruz Bay Solutions to offer the “iGift Print on Demand Kiosk”. The Kiosk enables customers in malls, sports venues, special events, and general retail locations to design, load, and print their own gift cards and choose from a large selection of stock photos, card designs, and colorful fonts stored in the machine. Customers can also import their own photos and edit them with options similar to a photo editing kiosk. Merchants may choose to place it within a store, or outside in high foot-traffic locations such as a mall. “The iGift Kiosk” also allows customers to make balance inquiries and to reload existing cards. Cruz Bay Solutions specializes in self-service gift card technology. Smart Transaction Systems provides card-based payment systems, customer loyalty and customer relationship management (CRM) programs to a wide variety of companies throughout the United States.

Details

FDC & ZKA

First Data International will be providing debit card processing for
German cross-border and domestic payments. With the approval from
Germany’s ZKA (Central Credit Committee – owner of the national
electronic cash system), First Data will be the country’s debit card
processing gateway, permitted to provide routing and switching to banks.
This development adds First Data to the list as the 5th gateway,
benefiting retail and savings banks with the increased competition.
First Data
serves 5 million merchant locations, 1,900 card issuers and offers
PIN-secured debit acceptance at 2 million ATM and retail locations
through its STAR Network.

Details

Small Business Owners Cautiously Optimistic

During the second quarter 44% of small business owners surveyed expected an increase in revenues over the next six months and 40% expected an increase in profits over the same period. However, only 19% expect to borrow money to enhance cash flow over the next six months. The new VISA “Small Business Spend Insights” report found that the optimism is somewhat tempered by concerns about rising energy and rent costs, with 72% anticipating an increase in energy spending over the next six months. Meanwhile, 23% of small business owners surveyed expressed concern about attracting new customers over the next six months. The average spend per transaction on “VISA Business” cards for advertising, management consultants/public relations, publishing and related expenses increased by 8% for the 12 months ending June 2007.

Details

Pershing Continues its Ceridian Proxy Fight

Hedge fund Pershing Square, which recently announced its support of the $5.2 billion cash merger between Ceridian, Thomas H. Lee Partners and Fidelity National Financial, is still carrying on its proxy fight to replace the Ceridian Board. Pershing Square also says that it now supports Ceridian’s management and desires to retain them through the closing of the merger. However, Pershing claims that it is continuing its proxy fight only so that its nominees can act as a “backstop” and take over the company in case the merger does not close. However, Ceridian is committing that in the event the merger does not close, it will hold a new election of directors within 90 days of termination of the merger agreement. Pershing Square owns about 15% of Ceridian.

Details

GE Money Takes-Over the ANA Affinity Card

The largest national nursing association has teamed with GE Money to launch a new affinity card. The American Nurses Association credit card program was formerly run by National City as a VISA program. GE Money and ANA will now offer the “ANA Rewards Platinum MasterCard.” Points may be redeemed for merchandise, travel, cash and gift cards, as well as ANA customized rewards including credit towards association membership fees, gift certificates for “National Nurses Week” merchandise and credit towards “American Nurses Credentialing Center” certification. The card will be made available to ANA members via its association and industry Web sites, association newsletters, industry events and direct mail. The ANA represents the interests of the nation’s 2.9 million registered nurses through its 54 constituent member nurses associations. (CF Library 9/15/05)

Details

RBS Lynk Names a New CFO

RBS Lynk has appointed Nicholas J. Sommerio, previously VP of corporate development and strategy at Global Payments, as CFO. Sommerio held leadership positions with Global Payments, including vice president, Corporate Development and Strategy, and vice president, Financial Planning and Analysis. Previously, he spent several years with First Data Corporation as vice president, Finance, and as chief financial officer of Chase Merchant Services. He holds an MBA from George State University.

Details

American Greetings to Debut Gift Card Malls

Gift card malls continue to gain popularity. Starting mid-month American Greetings and Carlton Cards stores in the U.S. will sell gift cards for other retailers. These are the first mall-based stores to offer a “gift card mall” through Atlanta-based InComm. The initial displays will offer gift cards from 16 retailers. The displays will be positioned alongside birthday-themed greeting cards, bags and tissue. Among cards offered: American Express; Borders; Circuit City; iTunes; Linens ‘n Things; Lowe’s; Starbucks; and Vanilla VISA. Similar gift card malls are planned for the company’s Canadian card and gift shops in late fall.

Details

CAPITAL Card Services Goes IP-Based

SD-based CAPITAL Card Services has selected IP-based business communications software from Interactive Intelligence. CAPITAL plans to use the Interactive Intelligence software, called Customer Interaction Center (CIC), to support both its business users and contact center agents located at its headquarters in Sioux Falls and a remote office in nearby Brookings, South Dakota. In addition to using the software for session initiation protocol-based IP switching, interactive voice response, and automatic call distribution, CAPITAL plans to deploy modules for outbound dialing, call and screen recording, network-based pre- and post-call routing, and workforce management. Interactive Intelligence is a global provider of business communications solutions for contact center automation, enterprise IP telephony, and enterprise messaging. CAPITAL Card Services Inc. is a leading servicer of MasterCard and Visa accounts for financial and non-financial institutions nationwide with more than 500,000 accounts and manages more than $145 million in outstanding card receivables for its clients.

Details