Chase Closes on the Pier 1 Store Card Deal

TX-based Pier 1 Imports has completed the sale of its $140 million private-label credit card portfolio to Chase. In addition, the two companies entered into a long-term agreement in which Chase will provide credit and customer service benefits to Pier 1 cardholders and will offer special financing terms to Pier 1 customers. Pier 1 will receive future ongoing payments based on credit card sales, new account generation and other credit and account related activities. Pier 1 and Chase will work together on various marketing initiatives designed to increase Pier 1’s sales and further enhance credit growth and profitability. Pier 1 Imports, Inc. is North America’s largest specialty retailer of imported decorative home furnishings and gifts with Pier 1 Imports stores in 49 states, Puerto Rico, Canada, and Mexico and Pier 1 kids stores in the United States.

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BB&T Introduces a VISA Gift Card

BB&T has introduced the “BB&T VISA Gift Card” to retail and business clients its fourth new prepaid product in the last two years. BB&T’s lineup of prepaid cards includes EasySend, an international money transfer card; the BB&T Payroll Card; and the BB&T Benefit Access Card for health savings and flexible spending accounts. BB&T operates more than 1,450 financial centers in 11 states and Washington, D.C. With $118.5 billion in assets, BB&T Corporation is the nation’s ninth largest financial holding company.

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Global Payments Europe Opens an Office in Kiev

Prague-based Global Payments Europe has opened an office in Kiev. Global Payments Europe currently serves Central, East, and
Southeast Europe and has offices strategically located in Prague,
Bratislava, Moscow, Warsaw, and Sarajevo. Global Payments Europe (formerly MUZO) serves financial institutions with a comprehensive package of payment services including credit and debit card transaction processing, installation and servicing of ATM and POS terminals, as well as card issuing services such as card database management and card personalization. The company also provides mCommerce and eCommerce services as well as credit bureau processing services.

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Network Solutions Joins AmEx Business Savings Program

Network Solutions has joined the American Express “Business Savings Program” to offer special deals on E-commerce, Web site design and online marketing products and services. Network Solutions offers members of the American Express Business Savings program special discounts on the full suite of Network Solutions products and services, including both “Do-It-For-Me” and “Do-It-Yourself” Web site design packages, E-commerce packages and online marketing services that help merchants drive traffic to their Web sites, and more. American Express Company is a leading global payments, network, travel and banking company founded in 1850. Network Solutions, a leading provider of Web solutions and the pioneer of the domain name registration service, offers a full range of Web-related services, including Web hosting, Web site design, e-commerce, search engine marketing, SSL certificates, e-mail and domain name registration services.

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Retail Decisions Deploys GoldenGate Solutions

Retail Decisions has deployed GoldenGate solutions to increase availability of data across ReD’s International platforms. GoldenGate’s solution ensures that Retail Decisions’ Oracle databases are available and identical, sharing transaction data in real time across international platforms. Retail Decisions selected GoldenGate because of its proven solution in an active/active configuration, in addition to scalability, heterogeneous database and platform support, and dedicated professional services. GoldenGate Software Inc. is the leader in transactional data management (TDM) solutions for maximizing the performance, accessibility, and availability of enterprise data.

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Sony and NXP Form a JV to Drive Contactless Payments

NXP Semiconductors and Sony Corporation have signed a MOU to establish by mid-year 2007 a joint venture that will drive global adoption of contactless smart card applications in mobile phones. The anticipated JV will plan, develop, produce and market a secure chip that will include both “MIFARE” and “FeliCa” operating systems and applications, as well as other contactless card operating systems and applications. “MIFARE” is the most widely installed contactless smart card technology in the world with about 1.2 billion smart card chips and more than seven million reader modules sold. Current shipments of “FeliCa” ICs stand at 170 million units and of these 30 million are mobile “FeliCa” chips for use in mobile phones in Japan.

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Leigh Mardon Taiwan Acquired by Gemalto

Gemalto has entered into an agreement with Leigh Mardon Group Pty to acquire Leigh Mardon Taiwan. Leigh Mardon is an established supplier of secure transaction products and services with its headquarters in Melbourne, Australia. The company is a market leader in financial cards in Taiwan and Australia. Leigh Mardon is security accredited by VISA, MasterCard, Europay, Bankcard, Diners Club and American Express and holds International Quality Standards Organization “9002” series certification. The deal is expected to close on November 30th.

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Oki and Nautilus Hyosung Partner to Manufacture ATMs

Oki Electric Industry Co. and Nautilus Hyosung, the top ATM manufacturer in Korea, have signed a partnership for the global deployment of financial systems. OKI and Nautilus Hyosung
will develop and manufacture financial systems including ATMs and cash
processing equipment, which will be sold in Korea, China and other
overseas markets. Nautilus Hyosung is a financial systems integrator from the Hyosung Group. In addition to being the top ATM vendor in Korea, it also provides over 80,000 cash dispensers to the U.S. market. OKI is the top ATM vendor in Japan. As the Japanese ATM market matures, OKI who has been providing ATMs to overseas market including China since the fiscal year ending March 2004, is planning for further expansion overseas.

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Citibank Launches the Swipe & Drive Program

Citibank has launched a new product that will enable Citibank
credit card holders to get instant approvals for auto loans. Citibank is rapidly expanding its auto lending business across the country. With the “Swipe & Drive” product, customers can pay their 10% down payment through their credit card and get an instant auto loan for up to 90% of the value of the car. Citibank has also recently reduced its interest rates and has extended loan tenors up to six years.

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FreeStar Technology Revenues Fall 24% in 3Q/06

Dublin-based FreeStar Technology reports that third quarter revenue decreased by approximately 24% to $461,860, due to decreased
consulting and development fees at the Company’s wholly owned subsidiary
Rahaxi Processing Oy. However, the Company’s core transaction processing business generated a 12% increase in activity for the quarter, as the total number of transactions processed rose to approximately 4,917,000 transactions during the quarter. The Company’s net loss was $2,470,221, an increase of $1,533,191 or approximately 164% compared to a net loss of $937,030 for the comparable period of the prior year. For complete details on Freestar’s latest performance visit CardData (www.carddata.com)

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