Britons are expected to spend GBP31.8 billion on plastic during December for the holidays, with approximately GBP20.4 billion on debit cards and GBP11.4 billion on credit cards. Overall, payment cards will account for 61.6% of the predicted total holiday spend of GBP51.6 billion in December, up from 58.8% in 2005. Credit card spending in December is predicted to remain close to December 2005 levels at GBP11.4 billion virtually unchanged from a figure of GBP11.5 billion in December 2005. Debit card expenditure in December 2006 is expected to rise 20.4% to GBP20.4 billion, compared to the year ago period. However, APACS, the UK payments association, predicts that credit cards will continue to dominate in the online arena, making up 67% of the expected GBP3 billion total of plastic card spend online at GBP2 billion, compared to GBP2.2 billion in 2005. Holiday volume on debit cards exceeded credit cards for the first time in 1999.Details
Salt Lake City-based Zions Bank has joined the “MoneyPass” surcharge-free ATM network. Cardholders can simply log on to http://www.moneypass.com and input the ZIP codes of their destinations to locate ATMs within the MoneyPass network. In addition to using these ATMs fee free, customers will also not be charged fees by Zions for using non-bank ATMs. Elan Financial Services is one of the nation’s leading providers of complete outsourced solutions with a focus on payments and card processing. Zions Bank operates 135 full-service branches and nearly 200 ATMs throughout Utah and Idaho.Details
Vicente Fox, President of Mexico, John Philip Coghlan, President and CEO, VISA USA are among the speakers to keynote the upcoming “2007 Prepaid Card Expo” in Las Vegas. The 2007 Prepaid Card Expo is sponsored by a number of industry leading companies. Gold Sponsors include: Galileo Processing, Green Dot Corporation, Meta Payment Systems, and Visa. Silver and Track Sponsors include: American Express, Carlson Marketing, Discover Network, Experian, IDT Financial Services, and MasterCard. Prepaid Media provides a host of business-to-business media and information services to numerous emerging industries.Details
Macy’s is offering, for the first time, special “Aflac Holiday Duck” gift cards this year. This is the sixth year that Aflac and the department store have partnered to sell “Aflac Holiday Ducks” raising more than $1 million since the program began. The proceeds benefit hospitals treating children with cancer. The new “Holiday Duck Gift Card” quacks when it’s opened to reveal a snowflake-covered card with the Aflac logo. The gift cards can be purchased in any denomination over $5 and can also be used to purchase items through macys. The gift cards are available at 140 Macy’s stores in 89 cities. A total of 32 hospitals will benefit from sales.Details
BT Buynet, a provider of credit and debit card processing services for local merchants, has teamed with Cybertrust for PCI DSS compliance. BT Buynet is a major provider of card processing services with clients including UGC Cinemas, Bosch and O2. The company also holds the world record for most online donations in one day for the DEC Tsunami Appeal. Cybertrust is providing BT Buynet with PCI scanning and certification services. Cybertrust is the global information security specialist, delivering services that secure critical data, protect identities and help customers demonstrate ongoing compliance.Details
PULSE EFT and the Discover Network have jointly developed “Discover Debit,” the first new signature debit program to be introduced in more than a decade. Today, the Independent Bankers Association of Texas agreed to endorse the new debit program exclusively. IBAT will promote the product to the trade association’s more than 510 Texas community banks. Discover says the program offers lower expenses, fully disclosed pricing and simplified billing. Discover says banks may elect to offer “Discover Debit” in addition to any other signature debit products currently available and it does not require discontinuation of any existing relationship with other programs. IBAT also endorses “Select ATM,” PULSE’s surcharge-free ATM alliance.Details
A new solution has emerged that can harness the power of the magnetic stripe on payment cards to provide multi-factor authentication and end-to-end data encryption. The new “MagnePrint” solution from MAGENSA reduces the investments or changes to the existing infrastructure since it utilizes the magstripe card-based tokens that an institution has already issued to their customers. The “MagnePrint” is in the background of the stripe referred to as noise. It does not interfere with the cardholder personal data encoded in the foreground. Nor can the encoded data remove or erase the “MagnePrint.” Furthermore, the “MagnePrint” and the cardholder personal encoded data can be linked. When the card is first issued or first used, the card issuer stores the digitized original “MagnePrint” on the cardholder file. This is designated the “Reference MagnePrint”. The “MagneScore” software is used to score “Transaction MagnePrint” to the “Reference MagnePrint.” Typical scoring times are 10 milliseconds or less. MAGENSA is an affiliated company of MagTek.Details
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.