TNB Card Services has launched “Rewards2U” , a flexible rewards program for credit unions. “Rewards2U” is for credit unions of all sizes, and accumulates points for debit and credit cardholders based on card usage. Points may be redeemed for a broad selection of brand-name merchandise; downloadable music, videos, and mobile phone ringtones, unrestricted airline, hotel, and car rental travel options, including cruises; and charity donations. The program eliminates travel blackout dates and other restrictions letting cardholders redeem their points through any travel agency. Rewards2U can be customized so credit unions can rename it and brand it as their own offering. In announcing the Rewards2U program, TNB cited 2006 industry data from VISA that notes 77 percent of all credit card volume and 80 percent of all transactions were linked to rewards.Details
Fraud Management Technologies (FMT) has introduced its “Octopus
version 3.0” to prevent fraudulent access to Web applications before the
transaction is complete. The mitigation software uses a preprocessing
filter in a front-end application server to offer risk management for
e-ticketing. Furthermore, “Octopus V. 3.0” allows airline organizations
to alleviate online risks without compromising the genuine customer’s
Canada’s largest quick service restaurant chain is gearing up to accept credit cards as well as contactless payments. Tim Hortons has signed a deal to accept MasterCards and to deploy MasterCard’s “PayPass” contactless technology. For a limited period, MasterCard will be the exclusive credit card accepted at Tim Hortons. As of April 1st, Tim Hortons system-wide restaurants numbered 2,724 in Canada and 340 in the USA. Approximately 500 Tim Hortons locations are currently installed with MasterCard capability and more locations will be added throughout the summer. MasterCard Canada is facilitating payment card acceptance in QSR environments with its exclusive “Quick Payment Service” and MasterCard “PayPass” programs.Details
LifeLock and the Los Angeles County Bar Association have entered into a partnership to offer LACBA members and their families a discount on LifeLock’s monthly service to secure their identities. LifeLock enables “locks” by setting and automatically renewing fraud alerts with the major credit bureaus, removing member names from pre-approved credit card offers and junk mail lists and guaranteeing the service with their industry-exclusive $1 million guarantee. The Los Angeles County Bar Association (LACBA) is the largest local voluntary bar association in the nation with a membership of over 27,000 attorneys. Federal Trade Commission has reported that The Los Angeles metropolitan area registered nearly 17,000 complaints with the FTC for identity theft in 2006, up more than 1,000 from 2005.Details
Discover Financial Services began trading this morning on the New York Stock Exchange as an independent company with an opening price of about $28.50 per share. The card network also announced the addition of Gregory Case, CEO of Aon Corp. and E. Follin Smith, former CFO for Constellation Energy Group, to the company’s previously announced Board of Directors designees. Other outside directors include: Jeffrey Aronin, President and CEO of Ovation Pharmaceuticals; Mary Bush, former U.S. Government representative on the IMF Board and former head of International Finance at Fannie Mae; Robert Devlin, former Chairman, President and CEO of American General; Philip Laskawy, former Chairman and CEO of Ernst & Young; Michael Rankowitz, senior advisor to Morgan Stanley; and Lawrence Weinbach, former Chairman and CEO of Unisys Corporation and former Managing Partner and Chief Executive of Andersen Worldwide. David Komansky, Chairman Emeritus of Merrill Lynch will join the Board later in the year. CEO David Nelms has been leading Discover’s business since 1998 and will sit on the company’s Board of Directors. Roger Hochschild will continue in his current role as President and COO, and Roy Guthrie will continue to serve as CFO.Details
Internet Retailer ranks “Stone Edge Order Manager” as a top choice among America’s largest online retailers. The Stone Edge Order Manager, which began seven years ago as a simple program for importing orders and printing invoices and packing slips, has grown into a wide-ranging tool for e-commerce business management. It is currently used by over 1,500 merchants to automate and streamline their operations. Stone Edge Technologies is a privately owned developer of affordable e-commerce software for small businesses.Details
CPI Card Group has partnered with private equity firm Tricor Pacific Capital. The existing management team of CPI will remain in their current capacities. Bob Clarke, Russ McGrane and Scott Heck will move forward in their current capacities and as shareholders in the new partnership. as Antonio Accornero plans to retire. CPI Card Group is a manufacturer with the capacity to produce over one billion standard, contactless, foil, textured, scented and translucent cards. Tricor Pacific Capital has approximately $800 million of funds under management.Details
NCR Corporation has completed the deployment of 220 ATMs and
implemented its “APTRA Advance NDC” Software for PKO Bank
Polski(PKO BP). Among models PKO BP has chosen to deploy is
the “bvR Personas M Series 86” ATM which allows for future upgrades.
Also with these ATMs are real-time alerts to NCR ATM technicians,
built in cameras and EMV-certified software solution for security. Other
security features include motorized card readers, standard Triple Data
Encryption Standard coding, combined with available remote distribution
of code keys and NCR’s Enhanced Card Drive. PKO BP has 1,200
branches, almost 2,300 agencies, and 2,100 ATMs throughout Poland.
NCR Corporation employs approximately 29,500 people worldwide
and develops business solutions.
Fiserv EFT has signed a seven-year transaction processing and ATM management agreement with ISO Select-A-Branch. Select-A-Branch offers a patented process that allows Select-A-Branch ATMs to recognize the financial institution associated with each ATM card presented and cardholders receive branded, surcharge-free transactions. Select-A-Branch ATMs are currently located along the Pennsylvania Turnpike and in other prominent center city Philadelphia locations. SAB’s patent pending ATM Software Solution allows banks and credit unions to deliver a branded, surcharge-free ATM transaction to any of its customers/members at any SAB ATM. Fiserv EFT provides ATM and debit services to more than 2,700 financial institutions across the United States. Fiserv reported more than $4.5 billion in total revenue for 2006.Details
ValuAcess has chosen to use VeriFone’s “PAYware Giftcard” platform for
implementation throughout East Asia. The platform allows for merchants to offer rewards systems and make available giftcards for purchase in stores other than their own. Retailers that have implemented the solution include HMV, the Dymocks
bookstore chain and the Hong Kong trade development council’s Design
Gallery. This gift card management system enables retailers and gift card
providers to design, launch, and operate an end-to-end electronic
gift card program designed to improve cost efficiency.
Northwest Airlines is now offering PayPal and will award Bonus Miles when purchasing tickets online. Northwest Airlines is offering WorldPerks members 500 Bonus Miles for purchasing tickets at nwa.com using a PayPal account. WorldPerks enrollment is required. Northwest Airlines offers approximately 1,400 daily departures and is a member of SkyTeam, an airline alliance that offers customers one of the world’s most extensive global networks.Details
Barclays Bank UAE has introduced the biometric-enabled ATM using
fingerprint scanning for identity verification. These ATMs will be
implemented with NCR’s ATMs, the company that will also be providing
maintenance for the machines in the UAE. The new ATMs will also
provide intelligent deposit service, eliminating the need for envelopes,
and a “Self Service ATM Experience”.