AT&T Universal Card Stays Alive

AT&T and Citigroup have signed a long-term extension for the “AT&T Universal Card” programs. The two firms inked a 10-year co-branding and joint marketing agreement in 1998 after Citi purchased AT&T Universal Card Services for $3.5 billion. At the time, the deal added $15 billion in card receivables and 13.6 million accounts to Citi’s portfolio. The card was first launched in April 1990 by AT&T and immediately set records. The high profile no-fee card attracted eight million cardholders in its first eight months. However, the company struggled with profitability as it attracted mostly non-revolvers. The “AT&T Universal Platinum Card” and the “AT&T Universal Rewards Card” issued by Citibank today offers cardholders calling benefits, loyalty programs and cell phone insurance. (CF Library 4/6/98)

Details

Citigroup Acquires a 20% Stake in Akbank

Citigroup has successfully completed the acquisition of
a 20% stake in Akbank. Under the terms of the agreement Citigroup paid
$3.1 billion for the share. Citigroup’s nominee, Sir Winfried Bischoff,
has been appointed to Akbank’s Board of Directors. Bischoff is the
Chairman of Citigroup Europe and a Member of the Citigroup Management
and Operating Committees. Mr. Ege Çaglar, Sabanci Holding’s nominee,
has been appointed to the Board of Directors of Citigroup’s Turkish
banking subsidiary, Citibank A.S. Akbank currently has 675 branches and
1,617 ATMs and has assets of $39.6 billion, loans of $19.6 billion and a
deposit base of $25.0 billion.

Details

Comdata and expensewatch Team

TN-based Comdata and PA-based expensewatch.com have formed a technology alliance to offer end-to-end operating expense management for small and mid-sized companies. Using the Comdata Card program, companies can apply numerous controls before company money is spent. All corporate card transactions can then be documented and company spending policies can be applied and enforced.

Details

Euronet to Drive Fidelity B&T ATMs

Euronet Worldwide has inked a multi-year agreement with Fidelity Bank
& Trust International to provide ATM Management software. Fidelity
serves several thousand customers in the Bahamas, the Cayman
Islands, the Turks & Caicos Islands and worldwide. Fidelity will use the
software to manage its ATMs in real time from a central location in the
Bahamas. Euronet has processing centers located in the U.S., Europe and
Asia, and processes electronic top-up transactions at more than 265,000
point-of-sale terminals across approximately 157,000 retailers in
Europe, Asia Pacific, Africa and the U.S.

Details

AmbironTrustWave Acquires SecurePipe

Chicago-based security and compliance specialist, AmbironTrustWave, has acquired rival SecurePipe, a Lincolnshire, IL-based managed security provider. Operations of both companies will be completely integrated. SecurePipe’s Network Operations Center will become the company’s primary NOC. SecurePipe also comes to AmbironTrustWave with a “Statement on Auditing Standard 70 Level 2” audit and having completed the FFIEC “Inter-Agency Exam” process. Art Roldan, CEO of SecurePipe, will remain with the company for a transitional period. Terms of the deal are confidential.

Details

Serverside Enhances its Personalization Program

Serverside Group has launched a new product suite to help issuers
maximize the marketing and commercial opportunities of its “AllAboutMe”
card design application. “AllAboutMe” is a Web-based application that
allows cardholders to design their unique
payment card online. The six new products include: TalkAboutMe;
Competition API; Campaign Monitor; Image Management; Viral Marketing
Tools; and ShareMyDesign. Other enhancements include Image Checking. The
Company has also launched new program and partnership opportunities.
Serverside has strategic alliances with VISA, Datacard and Getty Images.

Details

Independent Bankers Bank Switches to NOVA

U.S. Bank’s NOVA Information Systems has signed an alliance marketing agreement, worth $600 million annually, with Independent Bankers Bank to provide processing services, customer service and support operations to more than 5,800 merchants of IBB’s member bank network. Merchant services will be marketed through 162 referral and correspondent banks throughout Florida, Georgia and Alabama. The conversion of existing merchants is expected to be completed by June 1, 2007.

Details

MCAP & MBNA Launch a MasterCard with WorldPoints

MCAP and MBNA Canada Bank have teamed to offer a new loyalty credit
card program. The new “MCAP MasterCard with WorldPoints” enables
cardholders to redeem points to reduce their mortgage. MCAP is Canada’s
largest independent mortgage and equipment finance company. The new card
offers one point for each dollar in retail purchases, plus 1,000 bonus
points with the first retail purchase and an additional 1,000 points on
every anniversary. MBNA Canada Bank is the second largest MasterCard
issuer in the country. The Bank has more than 500 co-branded and
affinity credit card programs in Canada.

Details

Cardholders Prefer Security Over Rewards

Nearly one-third of respondents in a recent survey who think that PIN-approved debit transactions are more or equally secure as signature-approved ones say that increased security is more valuable than earning rewards. Furthermore, half of consumers say that inputting their debit card PIN at the point of sale constitutes a more secure transaction than one in which they sign a receipt. The research by Auriemma Consulting Group also found that 20% of respondents say they have a debit card rewards program, up 40% from 12% of respondents who had debit rewards. ACG notes that PIN-authorized debit transactions have nearly doubled in market share over the past half-decade.

Details