Wells Fargo customers in Central California can deposit cash and checks directly into ATMs without an envelope. About 400 “Envelope-Free WebATM” machines are now in place in Northern California with a plan to add 825 more of the new machines by the end of the year. “Envelope-Free ATMs” faster and easier ATM deposits; customers can deposit up to 30 bills in different denominations and up to 10 checks directly into the machine at one time, see check images on the ATM screen. All of Wells Fargo’s 6,700+ ATMs are web-enabled, which means they are faster, easier to use, and can perform more functions than traditional ATMs. On October 28, 2004, the same day “Check 21” became federal law; Wells Fargo was the first financial institution in the U.S. to transmit a check deposited at an ATM in Hayward, California.Details
Chicago-based Moneris Solutions has entered into a partnership with Recreation Sports Management Inc., the creators of www.esportsdeskpro.com, to offer Web-based payments and other services to the company’s athletic leagues, organizations and team clients. esportsdeskpro.com will enable organizations to collect online payments for team and player registrations, fees, fundraising, event ticketing and team merchandise sales. esportsdeskpro.com serves amateur sports leagues, teams and associations by hosting and designing their official websites, which includes a sports content management system. Moneris provides transaction-processing services nationwide serving 350,000 merchant locations.Details
Helgeland Sparebank and Entercard have signed a four-year agreement
stipulating the development and creation of credit card products for
Helgeland consumers. EnterCard is Norway’s’ largest issuer of credit
cards and was founded more than a year ago by Barclays Bank and Swedbank. This partnership will allow Helgeland Sparebank Group to tap into
Norway’s growing credit card market. Within the previous year EnterCard has signed new
partnership agreements with Sparebank1, Coop and LO in Norway and
FDB/Coop in Denmark. The bank is currently the 13th
largest savings bank in Norway, according to total assets, and has a
network of branches located throughout the Helgeland region, with 16
branches in 14 municipalities of the country.
Airplus International was awarded with the “Best Expense Management
Process.” The company is a global leader in
business travel payment solutions. Airplus’ own software, AirPlus
Integrated Data and Acceptance(A.I.D.A.), is reflective of the companies’
payment solutions. A.I.D.A. enables the purchase of any travel service
with the AirPlus Company Account and automatically records all the
extensive additional data demanded by customers. AirPlus provides
customers with new payment options for travel on more than 200 airline
carriers and helps manage their company’s travel budgets. AirPlus has
about 30,000 corporate customers worldwide.
Business credit card specialist Advanta posted a 39% rise in managed outstandings during the fourth quarter to $5.21 billion. During the fourth quarter, the issuer opened 116,157 new business card accounts and ended the quarter with a record 1,126,083 gross accounts. Advanta’s Business Card unit earned net income of $17.0 million as compared to $20.7 million in the prior quarter, and $13.2 million for 4Q/05. Transaction volume increased 29% to $3.5 billion during the fourth quarter. Charge-offs, on averaged managed receivables, decreased from 3.41% in the third quarter to 3.40% for the third quarter but remain well below 4Q/05’s 6.68% figure. Over 30-day delinquencies on managed receivables dipped 12 basis points to 2.58% from the prior quarter. However, over 90-day delinquencies on managed receivables edged up by 2 basis points to 1.25%, compared to the third quarter of 2006. During the fourth quarter Advanta renewed its processing contract with First Data. For complete details on Advanta’s fourth quarter performance, visit CardData ([www.carddata.com]).
ADVANTA’S CARD PORTFOLIO SNAPSHOT
Period Card Loans
4Q/05: $3.76 billion
1Q/06: $3.89 billion
2Q/06: $4.39 billion
3Q/06: $4.65 billion
4Q/06: $5.21 billion
Source: CardData (www.carddata.com)
VISA USA has acquired the “What’s My Score” program which helps educate college students in financial matters. The national program was previously under the management of the Responsible Credit Partnership. RCP, which joined The Center for Financial Services Innovation on January 1st. RCP says it will continue its work with VISA and other significant stakeholders in the credit card sector to improve responsible use of credit cards on behalf of “new to credit” consumers. As part of its reorganization, it sought VISA as the new management for “What’s My Score.” In addition to the acquisition of certain intellectual property, VISA will expand its role on CFSI’s “Responsible Credit Roundtable,” which supports credit card issuers working to responsibly and profitably address both short- and long-term needs of new to credit consumers. There are currently 17.5 million college students in the U.S.Details
Andy Hey has been appointed Experian’s new Head of Planning and Design.
Hey will design and manage the development of new products, leading a team
of over 90 people and will be based in Nottingham. Andy brings 20 years’
technology experience to the role. In addition to four years experience with
architecture and design at Boots, he spent 14 years working in financial
services at Accenture.
Automatic Data Processing has acquired Wirecard AG through ADP’s
CardClear Global Network. This will allow for ADP’s 90-plus
international airlines to process payments and services using Wirecard.
This partnership enhances the service range of airlines seeking global
and regional acquiring solutions. The Wirecard AG software platform is
being used by more than 6,000 enterprises across the globe, including
dba, Gulf Air, HSE24 and QVC. ADP employs over 44,000 and has almost
600,000 customers worldwide. ADP’s clearing division is the Data
Processing Center for more than 80 BSPs in the world.
Terminal manufacturer Ingenico reported fourth quarter sales of 131 million euros, a 5.2% gain over 4Q/05. The Company says revenues were driven by strong sales Asia and Southern Europe while revenue from Latin America was virtually stable. For the full year revenues grew at a 17% pace. Ingenico also reported the start of a sharp decline in net debt as of December 31st, due to higher profit margins and greater control over working capital requirements. During the fourth quarter, Ingenico introduced “i6780,” the first color touch screen payment terminal with integrated tactile keypad to meet requirements for the visually impaired; teamed with Gilbarco Veeder-Root have joined to develop and deliver comprehensive integrated indoor and outdoor payment technologies that automate petroleum retail sites; and
received “Class B” certification on the “i7780,” “i5100” and “3010” PIN Pad from Chase Paymentech Solutions. During 2006, Ingenico developed its
business in prepaid card recharges, contactless and Near Field Communication payments. For complete details on Ingenico’s latest results visit CardData (www.carddata.com). (CFI Library 10/2/06; 10/10/06; 11/13/06)
Diebold has been selected by PNC Bank as the bank’s single source vendor to upgrade hundreds of ATMs and to add new machines in 2007. The new ATMs will feature the “Intelligent Depository Module” (IDM) technology, a utility that allows checks to be deposited directly into the ATM, providing the customer with an image of the check on the receipt and the screen, elimating the need for a deposit envelope. These enhancements are part of a multimillion-dollar investment by PNC during the next two years to improve the advanced functionality of its ATM network. In 1992, PNC led the industry with the installation of Diebold’s first ATMs that featured “IDM” technology that displayed an image of a deposited check on the ATM screen.Details
In partnership with Card Protection Plan, Standard Chartered Bank of
Malaysia will offer customers card protection for not only cards issued
by the bank, but also for other valuable documents in the event that a
wallet or purse is ever misplaced. However, the subscriber is required to
credit, debit, or ATM cardholder. The two types of card protection
offered are an individual
plan at RM78 and a household plan at RM98 per year. The household plan
covers the cardholder and four other persons at the same billing
address. Standard Chartered is Malaysia’s oldest
bank and has a local network of 35 branches across Peninsula and East
With over 2,000 employees, Standard Chartered’ core business is in Consumer
Banking, Corporate and Institutional Banking and Treasury.
StoreNext Retail Technologies and Pay By Touch have signed an agreement to market and distribute Pay By Touch’s biometric authentication and payment service to independent grocers. StoreNext’s dealer network will resell the Pay By Touch store-level hardware, software and interfaces to independent retailers in conjunction with StoreNext point-of-sale systems and provide ongoing service and support. Data and transactions from the independents’ POS systems are processed through StoreNext’s Connected Services suite of Internet-based store management applications. When checking out, shoppers touch a biometric sensor and enter a Personal Search number to authenticate their identity and link to their financial and loyalty accounts. More than 3.5 million members are using Pay By Touch in 3,000 stores across 44 states, the UK and Singapore.Details