Shift4 Corporation and MN-based SoftBrands have partnered to offer the hotel industry alternatives to processing credit, debit and gift card transactions SoftBrands is currently in development with Shift4 to offer a Payment Card Industry-compliant payment gateway that accepts and processes transactions quickly, accurately and securely. SoftBrands provides software solutions for businesses in the manufacturing and hospitality industries worldwide. Shift4 is a developer of secure financial transaction processing software and services, provides web-based, real-time enterprise payment solutions for leaders in the hospitality, retail, foodservices, auto rental and e-commerce markets.Details
MasterCard’s worldwide growth rate in quarterly gross dollar volume increased 13.3% in 2Q/07 to $555 billion. Worldwide, MasterCard’s debit programs were up 19% in 2Q/07 GDV. Europe, the second largest region for MasterCard, posted a 14% rise in second quarter GDV to $157 billion from 164 million cardholders. Asia-Pacific reported GDV of $73 billion and 164 million cardholders. Latin America, which has 91 million cardholders, had $37 billion in second quarter volume, a 22% gain. Canada experienced a 16% rise in Q2 GDV of $22 billion and 34 million cardholders. The South Asia/Middle East/Africa region posted $10 billion in gross dollar volume, a 45% increase, from 29 million cardholders. As of June 30th, the Company’s customers had issued 855 million MasterCard cards worldwide, an increase of 11% over the same period in 2006. MasterCard now has 25.4 million acceptance locations worldwide. For complete details on MasterCard’s second quarter results, visit CardData (www.carddata.com).Details
Payment Data Systems has introduced the LPGA player Natalie Gulbis Gift MasterCard issued by Metabank. The 24-year-old Gulbis is one of the LPGA Tour’s most popular players and is among the top five of Advertising Age’s most marketable young athletes. She pens a popular online diary on her personal website, has started the third season of her Golf Channel reality television show, will release her 5th calendar in 2008, and is a featured character in a Tiger Woods video game. Customers will be able to choose from a series of card designs to be purchased online at http://www.nataliecard.com. Payment Data Systems is an integrated payment solutions provider to merchants and billers. MetaBank is a federally chartered savings bank.Details
Katz Group Canada’s Rexall/Pharma Plus pharmacies has signed a sponsorship
agreement Alliance Data’s “Canadian AIR MILES”. With this development,
consumers can earn reward miles at the pharmacy locations to redeem for
than 800 different products such as travel, movie passes, entertainment
electronic merchandise and more. Alliance Data provides marketing, loyalty
and transaction services for over 120 million consumer relationships and
customized business solutions. The company employs over 9,000 associates at
more than 60 locations worldwide. Katz group Canada has 200 Rexall/Pharma
Plus locations throughout Ontario.
Crown Financial Services has announced their new program, “Working Capital to Grow Your Business”, detailing the use of a merchant cash advance program or credit card receivables funding. Some of the key advantages of credit card receivables funding over other forms of financing are: no long application process, 24 hour approvals, cash in 7-10 working days, no application fees, no tax returns needed, no business plan needed, no closing costs, no fixed payment terms, no fixed time, no hassles. Typically a merchant can obtain between $5,000 and $300,000 per location. According to the latest statistics from Equifax, there are more than 18 million small businesses in the US. A high percentage of those small business owners are digging into personal savings, taking out home equity loans, borrowing from family and friends and running up credit card bills as forms of financing. All of these options require the business to take on additional debt. Collection of the purchased credit card sales occurs automatically through the credit card processor, which sends the funding company a small fixed, predetermined percentage from each credit card sale.Details
Scantec has joined the Zebra Card Printer distribution network to
support the growing popularity of plastic card printers in South Africa.
The company will offer the Zebra card product portfolio with training,
product integration, and support in key vertical markets. Scantec
provides hardware solutions to resellers in various service markets in
South Africa. Zebra Technologies delivers on-demand printing solutions
to businesses and governments in 100 countries around the world.
PULSE EFT Association has signed a new agreement with Bank of America to renew and expand their relationship. PULSE will provide PIN debit network services to the bank’s debit cardholders on the West Coast and throughout Texas, New Mexico and Arkansas. In addition, Bank of America’s Texas ATMs will continue to be a part of PULSE. Also, PA-based Adams County National Bank has entered into a long-term agreement with PULSE EFT Association for debit card transaction switching and settlement. The bank, which has 21 retail banking locations in Adams and surrounding counties, now utilizes PULSE exclusively for PIN debit purchases and plans to introduce a new payment option to selected customers through the issuance of Discover Debit cards. The bank also utilizes PULSE for ATM transactions. Adams County National Bank operates an ATM network of 19 sites throughout its marketplace.Details
Edentify has entered into a new partnership with FNB Merchants to incorporate its proprietary IDAlert identity fraud monitoring software into FNBM’s four-service (education, monitoring, insurance, and recovery) identity theft protection program. This partnership brings Edentify’s technology to FNBM’s client financial institutions nationwide. In addition, FNBM will replace its current recovery service with Edentify partner National ID Recovery’s (NIDR) advanced remediation tool. The combination of these two potent technology services further strengthens FNBM’s identity theft protection program, and improves FNBM’s recovery process. Edentify develops and deploys data analysis technology solutions for preventing identity theft and fraud. National ID Recovery is a privately held company with extensive experience in identity theft, security, information technology, management and compliance.Details
Ingrian Networks has announced a “60 Days to Compliance Program” to assist companies in meeting the impending payment card industry (PCI) compliance deadline. Ingrian’s new program will help companies worldwide implement encryption, and is especially timely as retailers scramble to meet the upcoming September 30 deadline for the PCI Data Security Standard. The four phases of the Ingrian 60 Days to Compliance Program include validation, implementation and testing and going live. The new program is designed to simplify the compliance process and offers a start-to-finish strategy that includes: Ingrian award-winning appliances, data discovery of credit card numbers, comprehensive customer training and support, and implementation in order to bring customers into compliance in 60 days or less. Ingrian DataSecure Platforms provide an intelligent, cost-effective way to protect critical data from both internal and external threats.Details
Fiserv posted a 12% increase in total revenues to $1.18 billion for the second quarter. During the quarter Fiserv EFT completed 44 new sales in the quarter. The Company also signed 62 new clients in the quarter for its electronic bill payment services and now has more than 560 electronic bill pay clients. Also, Wachovia selected Fiserv to provide item processing production services for its Western United States region, including the recent acquisitions of Western Financial and GoldenWest Financial. In addition, Fiserv continues to provide complete remittance and lockbox processing services for Wachovia’s growing payments business. Additionally, Pittsburgh-based Dollar Bank signed a seven-year agreement to license the Fiserv Loan Servicing Platform in order to consolidate the servicing of its 28,000 consumer and 18,000 mortgage loans onto a single technology platform. The company also signed definitive agreements in the quarter to sell its Fiserv ISS operations in two separate transactions. For complete details on Fiserv’s second quarter performance visit CardData ([www.carddata.com]).
PayPal has introduced “PayPal Pay Later” that allows merchants to offer promotional financing for buyers to defer payments. The PayPal Pay Later service allows online merchants to offer a transactional credit account with flexible financing options to buyers at check out – even if a buyer doesn’t have a PayPal account. Financing options, such as no payments for 90 days, give merchants new ways to market to online shoppers. PayPal has more than 153 million accounts in 190 markets and 17 currencies around the world.Details
MI-based Asset Acceptance Capital reported that total revenues declined 1.4% to $65.9 million in the second quarter. Purchased receivable revenues were $65.5 million for the quarter, an increase of 2.5%. During the quarter, the Company invested $38.1 million to purchase charged-off consumer debt portfolios with a face value of $1.1 billion, representing a blended rate of 3.40% of face value. Net income for the quarter was $8.3 million, compared to net income of $12.4 million for 2Q/06. Cash collections of $95.4 million in the second quarter is the second-highest single-quarter cash collections in the history of the Company, versus cash collections of $89.6 million in the year-ago period. For complete details on AACC’s latest results visit CardData ([www.carddata.com]).