Gemalto Delivers CharlieCards to the MBTA

The Massachusetts Bay Transportation Authority is using Gemalto devices for its “CharlieCard” electronic ticketing initiative. Gemalto is providing 3.5 million secure contactless transit smart cards to the MBTA for the program. By the end of this month, Gemalto will have successfully delivered 2.4 million contactless transit devices for the program. Because the cards were delivered fully encoded by Gemalto, the MBTA was able to distribute the cards immediately without having to be processed through the MBTA’s smart card encoding equipment. “CharlieCards” are reloadable at fare vending machines, fareboxes, MBTA ticket offices and eventually on-line. The MBTA is the nation’s oldest public transit system and currently the fifth largest mass transit system as measured by ridership.

Details

Paymetric Upgrades its XiBuy Solution

Paymetric has introduced the newest version of “XiBuy”, its procure-to-pay purchasing card expense management solution for the SAP enterprise with more than a dozen new features. Its full integration with “SAP Funds Management” functionality extends the value of “XiBuy” for the public sector. “Funds Management Cost Collectors” can be derived from an existing accounting object within the cost center or general ledger account or entered manually through the “XiBuy” user interface. “XiBuy” is the only SAP Certified solution that enables purchasing card transactions to be managed directly within SAP. “XiBuy” enables purchasing cards to be used as a payment method for purchase orders, facilitating three-way (or two-way) reconciliation and automated generation of the invoice receipt. Paymetric provides enterprise payment processes within the financial supply chain by embedding card payment and acceptance capabilities into existing business processes and systems.

Details

Citizens Financial to Offer Debit Points

Providence-based Citizens Financial Group has launched the “Citizens Bank and Charter One Bank Merchant Network,” enabling customers to earn up to 20 “Everyday Points” for each dollar of their debit card purchases. Customers may now redeem their reward points for cash deposits into a Money Market Account, Savings Account or Individual Retirement Account, a .20% bonus on the interest rate on Certificates of Deposit or a .25% rate reduction on Home Equity Loans or Lines of Credit. Citizens and Charter One cardholders are eligible for the incremental points through in-store, online and catalog purchases with retailers in the merchant network, which includes Dunkin’ Donuts, Eddie Bauer, FAO Schwarz, Hickory Farms, Hollywood Video, Legal Sea Foods, Linens ‘n Things, Macy’s, Mrs. Fields, Restoration Hardware, Sharper Image, Timberland, Yankee Candle and 1-800-FLOWERS. More than 590,000 customers have enrolled in the programs since October. Points are redeemable through a catalogue of merchandise, gift cards, travel vouchers, charitable donations and bank products. Citizens Financial Group, Inc. is a $164 billion commercial bank holding company.

Details

Hypercom Q4 Revenues Up 14% Sequentially

Hypercom posted a 14% increase in revenue and a 2% gain in gross profit for the fourth quarter compared to the prior quarter driven by the South American and European markets. However, revenue declined 5% and gross profit decreased 18% year-on-year due to a significant decline in multi-lane revenue and a decline in the revenue from the Australia/New Zealand markets. Revenue for the fourth quarter was $64.8 million, compared to $68.1 million of revenue in the same quarter of 2005. During the quarter, CO-based Total Merchant Services agreed to purchase 20,000 Hypercom “Optimum T4100” multi-application card payment terminals for its free terminal program. Chicago-based Aon Warranty Group inked a multi-year agreement to provide extended five-year warranty plans for select Hypercom electronic payment terminals. Hypercom also unveiled “ATMConnect,” a new service that upgrades dial ATMs to IP without the need to replace every ATM machine. Additionally, the Company introduced “P4100 PIN Pad.” Hypercom announced one of the largest single orders of payment terminals in Brazil during 2006 for 60,000 “T2100” payment terminals from a major card issuer. The Company is projecting twelve month 2007 revenue of approximately $284 to $290 million, representing an increase of approximately 14% to 17% over 2006 revenue. For complete details on Hypercom’s fourth quarter results, visit CardData ([www.carddata.com][1]). (CF Library 10/12/06; 10/27/06; 11/6/06; 11/9/06)

HYPERCOM REVENUE HISTORICAL
4Q/04: $74.6 million
1Q/05: $50.6 million
2Q/05: $60.2 million
3Q/05: $66.5 million
4Q/05: $68.1 million
1Q/06: $61.0 million
2Q/06: $66.1 million
3Q/06: $56.7 million
4Q/06: $64.8 million
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

Details

National City Launches a New ATM Campaign

Cleveland-based National City’s new checking customers will enjoy free ATM usage. National City benefits offered by its new checking accounts, depending on the account selected, include Rebates of $1.50, up to 30 a month, for every non-National City ATM transaction for National City Elite Checking accounts, in addition to eliminating National City’s fee for using other banks’ ATMs; no National City fees for transactions at non-National City ATMs and free checks for National City Free Checking Plus and National City Interest Checking Plus accounts. Any monthly automated activity such as monthly direct deposit or online bill payment will qualify accounts for these benefits. National City is also unveiling a new design for its Consumer and Business CheckCards and credit cards to more closely align with its points from National City rewards program.

Details

Nationwide Responds To Lagging Credit Card Use

To counter the decline in credit card popularity, Nationwide Building
Society will offer customers new incentives. The company’s Gold and
Classic credit cards will offer an introductory interest rate of 0%
on balance transfers for ten months with a 2.5% fee and 0% on all
purchases for three months. Benefits of this new initiative also include
commission free card use abroad, free 12-month extended warranty on
selected purchases, no annual fee, free online banking and free
Nationwide Fraud Watch.

Details

Triton Standard is the Best ATM Contribution

Triton Standard was recently recognized with the “Best Contribution to the Industry” award by the ATM Industry Association. The award is presented annually to an organization that demonstrates a long-term positive influence on improving the industry. In 2004, Triton, the largest provider of off-premise ATMs and ATM management software in North America, opened the Triton Standard message format free of charge to ATM manufacturers, including competitors. Triton Standard is the most widely used and emulated retail ATM message format in the industry. Triton is a provider of off-premise ATMs and ATM management software in North America and has more than 158,000 installations in over 24 countries worldwide.

Details

Senate Panel to Interrogate Card Leaders

A Senate subcommittee this morning is opening its first hearing on credit card practices. Led by Democratic Senator Carl Levin, the panel is threatening to outlaw what is calls “abusive” pricing. The “Credit Card Practices: Fees, Interest Rates, and Grace Periods” hearing will draw, in part, from a September 2006 GAO report detailing the finance charges, fees, and disclosure practices associated with 28 popular credit cards. Scheduled to testify this morning: Bruce Hammonds, President, Bank of America Card Services; Richard Srednicki, CEO, Chase; Vikram Atal, Chairman & CEO, Citi Cards; and Alys Cohen, Staff Attorney, National Consumer Law Center. Levin has indicated plans to hold several hearings to explore credit card practices by the U.S. Senate Committee on Homeland Security and Governmental Affairs, Permanent Subcommittee on Investigations.

Details

AccountNow Cards Best for Underbanked

CA-based AccountNow was honored as a finalist in the category of Best Unbanked and Underserved Program as part of the Prepaid Card Awards at the 2007 Prepaid Card Expo. AccountNow’s VISA-and MasterCard-branded prepaid cards provide millions of consumers who do not have traditional banking or checking accounts additional choices for making purchases and paying bills with the convenience and safety of FDIC deposit insurance, electronic payments, financial education and an innovative tool to help building a new credit history. The cards are issued by MetaBank and Palm Desert National Bank. Prepaid Media provides a host of business-to-business media and information services to the rapidly growing network branded prepaid and stored value card industry. AccountNow is a leading provider of financial solutions for the 40 million US consumers who do not have established credit or traditional banking relationships.

Details

eCommerce Specialist Lands Gumbinger

Assurz has appointed payment industry veteran Gregg Gumbinger, previously with Authorize.Net and First Data Merchant Services, to serve as VP of Business Development. Gumbinger has over 25 years of experience in the bankcard payment and eCommerce industries. He has also held marketing and business development positions at Visa USA, MCI, ClearCommerce, HomeAccount and the original Pay By Touch company. Assurz provides a “100% Satisfaction Guarantee” to consumers who shop online, enabling shoppers to evaluate their purchases for an extended 90-day period and, if dissatisfied, receive full reimbursement of their purchase as well as prepaid return shipping directly from Assurz.

Details