Alliance Data Systems announced that its stockholders voted to adopt the merger with Blackstone Capital Partners in a transaction valued at approximately $7.8 billion. Approximately 59.98 million shares of the Company’s common stock were voted at the special meeting, representing approximately 76.21 percent of Alliance Data’s total outstanding shares. Of those shares voting, approximately 59.77 million, or approximately 99.67 percent, voted in favor of the adoption of the merger agreement. The affirmative vote of a majority of the votes entitled to be cast by holders of the outstanding shares of the Company’s common stock was required to adopt the merger agreement. The Blackstone Group is a global alternative asset manager and provider of financial advisory services. Alliance Data is a provider of marketing, loyalty and transaction services.Details
ACE Software has partnered with BankServ for anti-money laundering
(AML) and anti-terrorist financing solutions. Under the agreement,
BankServ will be reselling Ace’s products that comply with AML and
terrorist financing legislation by providing automated solutions using
natural language processing. This processing scans financial messages
and identifies blacklisted entities in payment transactions before they can
be processed. This product ensures that financial institutions maintain
compliance, avoid regulatory penalties, reduce processing time and
minimize reputational risk. ACE Software Solutions is a provider of
intelligent payment and STP solutions and offers fully integrated real-time
payments, liquidity management, cash management, Anti-Money
Laundering and OFAC compliance.
Gift card provider SVM has announced that two of its customers, Meineke Car Care Centers and Choice Hotels International, have special promotions underway that are providing compelling ways to attract new customers and generate repeat business with existing customers. Meineke Car Care Centers throughout NY, NJ and CT are using SVM’s gasoline gift cards as a way of attracting consumer attention, and as a reward for customers performing needed repairs before they take to the highway for their vacations. Choice Hotels International is utilizing the SVM gasoline gift cards by offering their guests $50 in free gas this summer each time a guest stays three separate times at the chain’s more than 3,000 hotels in the U.S., Canada, Mexico or the Caribbean between June 1st and August 16th. There is also no limit to the number of times a consumer can earn this reward during the promotion period. SVM offers gasoline gift cards from every major oil company in America.Details
Due to the minimal common knowledge in the contactless payments field,
70% of British consumers question its fraud protection.
Furthermore, 76% of consumers are unaware of the new solution and
15% say they are likely to use the device for transactions of less than
only. The solution verifies the user’s identity once every 10-15
by requesting PIN entry and, with the amount expected to increase to
GBP 75, experts say this is appealing to thieves and fraudulent activity.
It is projected that 91% of bank customers will have debt cards, 70
million cards total, with the contactless capabilities whether they
prefer it or
not. A Bank Machine Surveys shows that 40% would like to have the option
to deactivate the contactless feature. Bank Machine, a subsidiary of
Cardtronics, is an ATM operator with over 1600 ATMs in the UK and
employs over 60.
Reflecting a recovery in private spending, credit card use hit a record
high of $23.4 billion in South Korea for July of 2007. This July figure
is up 18.4% from the same period in 2006, is the highest since
December 2006, and has been increasing since March. South Korea’s
economy grew 5% in 2006 and growth is expected to be around 4%
this year, according to the Bank of Korea.
Lufthansa German Airlines and Deutsche Bank have launched
the two “Miles & More VISA” cards in India. Every Rs 100 spent on the
“Miles & More Platinum VISA” earns two award miles while every Rs 100
spent on the “Miles & More VISA Signature” card earns three award miles.
On the first card purchase, “Miles & More Platinum VISA” cardholders
receive a welcome bonus of 5,000 award miles and “Miles & More VISA
Signature” cardholders will be credited a welcome bonus of 10,000
award miles. The new card also gives customers access to over 500 VIP
airport lounges across the world. The “Priority Pass” is being offered
to “Miles & More” cardholders at a special rate of Rs 1,500.
The new card is available in Mumbai, Delhi, Bangalore, Chennai and
Kolkata, with plans to roll-out to other cities at a later date.
Alipay has conducted an Internet credit survey of 396,542 participants
reflecting consumer impressions. Of the participants, 90% believed it
is necessary to fix a “credit tag” to credible enterprises and individuals,
69% believe Internet information is highly trustworthy, 52%
trust branded or well-established websites, and 10% of the Internet
users find reliable websites through the introduction of others. Also,
among those polled, 24% distrust fake advertisements, 23% distrust
virus transmissions, 19% distrust fraud, 17% distrust disclosure of
personal information, and 11% distrust pornography information.
Overall, 75% value a business’s credit rating for online transactions and
56% believe it is necessary to set up a 3rd party credit evaluation
Citi Cards Canada and STAPLES Business Depot have launched a new general purpose credit card. The new “Citi STAPLES easyRewards
MasterCard” offers up to 2% in points to use towards purchases at any STAPLES Business Depot or Bureau en Gros store in Canada. Cardholders earn “easyRewards” on a tiered-basis, and are calculated automatically based on the customer’s year-to-date spend. The tiers start at 0.5% for spend of $0 to $3,000 and increase to 2% with an annual spend of over $15,000 to a maximum of $50,000. According to customer research, the average Canadian has a monthly credit card bill of $1,275 and spends an average of $752.00 per year on office supplies.
alphyra prepayments and Value Retail have introduced a prepaid gift
card based on the Nomad processing platform. The prepaid card is
accepted wherever MasterCard is and implements the CORTEX
processing platform and do not incur any further administrative
charges. The card will be introduced at UK’s Bicester Village, Kildare
Village in Ireland, Maasmechelen Village in Belgium, Villages in Spain,
Italy and Germany by 2008. alphyra has operations in 23 European
countries, processes over 400 million transactions per year, and operates
on payzone, a branded network of 150,000 retail points.
Portland, OR-based Vesta Corporation has hired Kim Anderson, previously EVP and GM of IDT Financial, as GM of Credit Solutions. Anderson will oversee product strategy and development. Anderson brings over 25 years of international experience in credit and financial services for a variety of companies. Most recently, Anderson was Executive Vice President and General Manger of IDT Financial Services where he was responsible for building multiple growth business lines. Prior to IDT, Anderson was President, Retail and Ecommerce at eFunds Corporation and has held a number of senior leadership roles with Equifax, Ceridian and Deluxe Corporation. Vesta is a provider of virtual payments.Details
In the United Kingdom, 21% of gambling is funded through consumers’
credit cards, according to MoneyExpert.com. Furthermore, the financial
comparison website also shows that 13% support their gambling habits
by borrowing money, 8% dip into their personal savings, 1 out of 3 adults
gambles on a monthly basis, 21.37 GBP is the average amount on the line,
and nearly 1,000,000 gamers lose between 50 GBP and 150 GBP when
taking their chances. Also, 68% of those whom gamble use cash and 44% of
gamblers game online, followed by 19% playing their hand through