CA-based CrossCheck, has purchased the check residual stream from Merchant Payment Center, a payment provider headquartered in North Hollywood, California. Merchant Payment Center provides credit and debit card processing, and check approval and guarantee services to merchants throughout the country. Merchant Payment Center and CrossCheck became partners in 2003. CrossCheck processes and approves billions of dollars worth of check transactions annually for retail and dealer outlets throughout the U.S.Details
Alliance Data has announced that Goodyear has signed a multi-year
renewal agreement to sponsor the company’s “Air Miles Reward
Program”. The loyalty program offers reward miles at more than 100
leading brand-name sponsors representing thousands of retailers with
service locations across Canada. The points can be redeemed for
more than 800 different rewards. Alliance manages over 120 million
customer relations throughout North America. Goodyear reported
2006 net sales of $20.3 billion.
NY-based Duane Reade has planned installations of more than 140 Coinstar Centers in the metropolitan New York City area this year. Duane Reade has installed Coinstar Centers in its drug stores to offer consumers a convenient way to turn their loose change into cash or a voucher that can be used towards in-store purchases. In addition, consumers can choose to place the full value of their change onto a gift card or eCertificate from a variety of retailers including Amazon.com, iTunes, Circuit City, Starbucks and more. Duane Reade is the largest drug store chain in the metropolitan New York City area. Coinstar provides self-service coin counting, electronic payment solutions, money transfer, entertainment services and self-service DVD rental.Details
nCircle has announced its alliance with RCA for the contribution to
a portfolio of products and services to comply with card industry
security standards. Among the standards is the requirement to conduct
quarterly scans of externally facing payment network to verify
compliance, which nCircle’s Certified PCI Scan Service automated
security protection provides for merchants. PCI requires merchants that
accept credit and debit cards over the Internet to increase card data
protection on their internal and external payment networks. nCircle
PCI Scan Service is an automated network security scanning and reporting
service for compliance with the PCI Data Security Standard v1.1. This
partnership is designed to enable merchants to manage credit card
information, secure data, access data and provide PCI education and
services to ensure compliance.
On-demand “active” CRM” and marketing automation software provider Infusion Software has released Version 5.0 of “Infusion CRM”. Version 5.0 includes Conversion Tracking, allowing users to insert a pay-per-click conversion code to the success page of e-commerce shopping carts inside Infusion CRM; Round Robin Sales Team Assignment Logic for creating a “round robin” for distributing contacts; and the Expiring Credit Card Trigger. Infusion Software flagship product, Infusion CRM, is a web-based software program that centralizes, organizes and automates the sales, marketing and customer service processes in a small business.Details
Using Diebold’s “Opteva” ATMs, Banamex has introduced advanced ATM
service allowing users to make cardless transactions, deposit money and
pay bills anytime of day. The solution will operate on Diebold’s “Agilis”
open software platform. The Opteva ATMs also offer streamlined
installation, maintenance, upgrades, full deposit, automation options,
advanced function dispenser and enhanced security. Banamex has over
5,800 ATMs throughout Mexico. Diebold is present in 90 countries and
reported revenue of $2.9 billion in 2006.
The U.S. House Financial Services Committee held a hearing yesterday on “Credit Card Practices: Current Consumer and Regulatory Issues.” However, no credit card issuers testified. Among those present were Edward Yingling, President and CEO, American Bankers Association who said credit cards provide more services at little or no cost, and with lower interest rates than ever before. However, Yingling noted that the increased complexity of credit cards causes confusion and sometimes results in a difficult financial situation. But, the industry is taking these concerns very seriously and working to address them. Yesterday was the first in a two-part series of hearings on credit card practices. The second is scheduled for the first week in June wherein federal and state regulators plan to discuss the anticipated revision to the regulations governing disclosure for credit cards by the Federal Reserve.Details
Seattle-based Nordstrom has launched a new rewards program that blends the Company’s current points system with more benefits based on customers’ spending levels using any Nordstrom credit or debit card. The new “Nordstrom Fashion Rewards” offers the points program customers, but will also feature new rewards such as complimentary in-store services and access to red carpet events. The program will offer three new levels of cumulative benefits to “Rewards” customers who qualify. Unique to the Nordstrom program, “Rewards” participants can move to higher levels based on their Nordstrom spendings each quarter versus waiting a full year. The program was developed after extensive customer research, which included input from stores, a peer group study and focus groups. Nordstrom also surveyed its customers to determine which additional benefits would motivate them to strengthen their relationship with the Company.Details
MD-based Merchant Link’s “TransactionVault” has been validated by Visa USA as a “Payment Application Best Practice” “TransactionVault” is an innovative security solution that safeguards consumers’ payment card and personal information by moving data from a merchant’s POS system to Merchant Link’s monitored, secure and fully Payment Card Industry compliant environment. The validation, part of Visa’s ongoing Cardholder Information Security Program, applies to the MICROS RES 3000 version 3.2 Service Pack 7 Hot Fix 5. In November 2006, MICROS Systems partnered with Merchant Link to launch TransactionVault as part of its “Restaurant Enterprise Series” point-of-sale solution. Visa established certified PABPs to assist in the creation of secure payment applications that help ensure merchant compliance with Payment Card Industry Data Security Standards. Merchant Link provides solutions to the integrated point-of-sale industry, including high-end technical support and data transport services.Details
MA-based Lightbridge reported that revenue from continuing operations for the first quarter was a record $16.3 million, a 21% jump over 1Q/06. The Company reported net income of $1.9 million for the quarter versus net income of $1.6 million for the comparable period of 2006. The Company recorded a gain of $1.4 million in connection with the sale of the TDS business on February 20th and incurred a loss from TDS operations in the first quarter of $1.6 million. Authorize.Net processed a record $8.9 billion of merchant transactions in the first quarter, up 24% compared to the same period in 2006. The unit also processed 86.4 million transactions in the first quarter, a 19% increase over 1Q/06. Active merchants were at a record 175,439, up 23% over the prior year. Lightbridge recently announced the potential acquisition of PSiGate. For complete details on Lightbridge’s latest results, visit CardData ([www.carddata.com]).
A new survey shows that more consumers are shedding payment products compared to two years ago. Nearly half of those trimming their wallets have canceled or reduced their usage of standard credit cards. The “PaymentDynamics 2007 Preferred Payments Study” by TransUnion and Edgar, Dunn & Company reveals that 20% of consumers said they shed payment products in 2006 compared to 16% in 2004. Of those that have canceled or reduced their usage of payment product in the past 12 months, about 14% have done so with either a store credit card, debit card or a rewards credit card. Only 10% have canceled or dropped a co-branded or affinity credit card. In contrast, 31% of respondents added a new payment device to their wallet this past year versus 56% in 2004. The study also revealed that more consumers prefer debit cards than any other type of payment for point-of-sale purchases.Details
WI-based Fiserv reported that total revenues for the first quarter increased 11% to $1.22 billion. The company’s Financial operating segment generated revenues of $767.3 million for the first quarter, a year-on-year increase of 9.6%. Driving the internal revenue growth rate were increased sales of the company’s banking and payment products and services to existing and new clients, as well as growth within the output solutions division. Financial segment operating income increased $29.8 million to $159.9 million, up 22.9% compared with the first quarter of 2006. During the quarter, Fiserv Electronic Funds Transfer completed 55 new sales and now has more than 2,700 clients. The company’s BillMatrix business unit increased transactions by 45%, compared with the first quarter of 2006, to 10.2 million. Fiserv also signed 52 new clients for its electronic bill payment services and now has more than 500 electronic bill pay clients. For complete details on Fiserv’s first quarter performance, visit CardData ([www.carddata.com]).