Dallas-based TNB has hired John McMenamin, formerly with Silvercloud Software and MBNA, as a VP, regional sales executive. At TNB, McMenamin will work with prospects and clients who are considering selling their credit card portfolios to a credit union-owned issuer. Previously, he held positions with MBNA America Bank, where he was senior manager of acquisitions. McMenamin is a graduate of West Virginia University. TNB Card Services, owned and directed by credit unions since 1976, provides electronic payments processing, as well as an agent issuing solution for credit unions nationwide.Details
SpareBank 1 has signed a new 7-year strategic partnership agreement with EnterCard Norge. The agreement involves developing new
concepts and issuing credit cards for the independent banks within the
SpareBank 1 Group. Earlier this year EnterCard signed new partnership agreements with LO in Norway and FDB/Coop in Denmark. In December last year, EnterCard signed an agreement with Coop in Norway.
Houston-based ATM specialist Cardtronics reported record third quarter revenues of $76.4 million, a 6.6% increase over 3Q/05. The increase was primarily attributable to an increase in ATM operating revenues associated with the Company’s United Kingdom operations, which began in May 2005 with the acquisition of Bank Machine Limited. Average transacting ATMs for the third quarter hit 25,726 a decrease of 2.5% due to a year-over-year decline in the number of merchant-owned ATMs transacting within the U.S. However, cash withdrawal transactions increased 1.9% to 32.2 million during the third quarter. Average cash withdrawal transactions per ATM per month during the third quarter increased 4.5% to 418. Average revenues per ATM per month in the third quarter increased 7.3% to $944. During the quarter, Cardtronics rolled-out of over 1,000 Sovereign Bank-branded ATMs in CVS stores located throughout the northeast U.S. and signed a multi-year ATM operating agreement with OXXO, Latin America’s largest convenience store chain. The Company now expects full-year revenues to be in the range of $285 to $295 million, up from the $280 to $290 million range that was previously communicated. For complete details on Cardtronics’ latest results visit CardData ([www.carddata.com]).
CARDTRONICS REVENUE HISTORICAL
3Q/05: $71.7 million
4Q/05: $69.8 million
1Q/06: $58.3 million
2Q/06: $73.3 million
3Q/06: $76.4 million
Source: CardData (www.carddata.com)
ATM manufacturer Triton has teamed with Infonox to provide financial institutions with a way to automate their deposit services by accepting scanned checks through the ATM and provide a touch screen consumer interface. Visitors to Triton’s booth (#1719) during BAI Retail Delivery Conference and Expo, November 14-16, 2006, in Las Vegas will be able to see a sneak peak of Triton’s new full function, through-the-wall banking ATM, the FT7000, with advanced functionality running Infonox software. Triton is the largest provider of lobby/off-premise ATMs and ATM management software in North America and has more than 150,000 installations in over 23 countries worldwide. Infonox provides ready to deploy solutions and platforms for delivering financial and non-financial services to end-points.Details
Euronet Worldwide has chosen to implement Alaric’s Fractals fraud detection solution in its pan-European processing offering to both card issuers and acquirers. Currently, Euronet’s data centers
worldwide process approximately 80 million transactions per month for
ATM and POS devices in 20 countries. The Fractals fraud detection system provides both issuer and acquirer services from the same platform, which is ideally suited to the multi-bank processor environment.T The system includes options for rules based detection only; advanced rules (Power Rules) and highly accurate, automatic and adaptive pattern recognition models, which can be trained from a regional basis or from a customer specific basis using historical transaction data.
Discover card merchant acceptance took a big leap with the help of China’s only national bankcard payment network. Discover Network cards are now accepted at more than 480,000 merchant locations and 90,000 ATMs across China. The expansion is the result of pact signed last year between Discover and China Unionpay. Under terms of the deal, signed in May 2005, Discover and China UnionPay agreed to accept Discover cards in China and Discover agreed to accept CUP cards in the U.S on its “PULSE” network. The first transaction of a China Unionpay card on the “PULSE” network took place in December. There are more than 800 million CUP cards issued in China and more than 50 million Discover cards issued in the USA. Discover cards are currently accepted in the USA, Caribbean, Mexico and Canada.Details
Gemalto has launched an end-to-end solution for secure Internet design of personalized EMV payment cards. The new “CardLikeMe” system enables users to upload a picture of their choice on a bank Web site and transfer it to a card. Once the picture is loaded on the bank Web site, users can visualize the card appearance in real time and adjust the photograph as they wish. The image is approved by the bank before the order is placed. Users may also choose a picture from a wide range of attractive background visuals offered on the bank’s online gallery. “CardLikeMe” has already gone live with several European financial institutions.Details
Las Vegas-based Cash Systems reported that third quarter revenue jumped 52% to $26 million. However, the Company had a new loss of $2.8 million due to several unusual expenses. The extra expenses includes $2.4 million in items related to prior processor and bank relationships, including reserves for processor receivables, termination fees, disputed fees and processing errors. Cash Systems says revenue is now expected to grow to approximately to $94 million for 2006, compared to previous revenue guidance of $90 million. Net income is expected to be positive for the fiscal fourth quarter of 2006. For complete details on Cash Systems’ latest results visit CardData ([www.carddata.com]).
Keycorp has partnered with CPI Card Group to manufacture MasterCard’s “PayPass” contactless cards for Banamex. The issued cards will be introduced into McDonald’s fast food outlets throughout Monterrey, Mexico. This joint effort will mark the first “PayPass” program launched in Latin America. The contactless card, manufactured by CPI, will use utilize the dual interface chip with the MULTOS operating system developed by Keycorp. Personalization of the cards will occur in the in-house bureau of Banamex.Details
VeriFone has delivered its 150,000th payment solution for
Mexico’s terminalization program. The program is coordinated by FIMPE
which promotes the usage of electronic payments under the name “Boletazo,” such as sweepstakes for cardholders and a nationwide program to provide POS systems to small businesses. Due to the efforts of FIMPE and VeriFone both the number of POS transactions and total sales
volume at POS increased 49% during 2005. This trend continues in 2006:
transactions at POS during the first half of the year increased 133%
compared to the same period in 2003, according to recent numbers of the
Banco de Mexico, Mexico’s Central Bank.
Royal Bank of Canada has selected ACI’s “Smart Chip Manager” for its planned migration to chip technology for debit and credit cards. “Smart Chip Manager” will provide RBC with the control and management necessary for early phases of chip card migration as well as the flexibility to offer new products in the coming years. Chip card internal trials will begin in late 2007. ACI serves over 800
customers in 83 countries.
GE Money’s credit card joint venture with the State Bank of India, formed in 1998, is paying-off in spades this year. SBI Card has added a record one million new customers this year bringing its portfolio to more than three million total cardholders. SBI Card is the only non-bank card issuer in India and is now the second largest issuer in the country right behind ICICI Bank. SBI Card says it has experienced a compound annual growth rate of 45% on volume and outstandings since the year 2000. The issuer has co-branding relationships with Indian Railways, Lifestyle, LG, Go Air, Vishal Mega-Mart, Hero Honda and Tata. The size of the Indian credit cards market is estimated to be about $4 billion and is growing at 35% per year.Details