TN-based Comdata has hired Rod Katzfey, formerly SVP/GM for ABN AMRO Merchant Services, as SVP/GM of Comdata Processing Systems. Katzfey was formerly Senior Vice President & General Manager for ABN AMRO Merchant Services (AAMS), a joint venture company of BA Merchant Services and LaSalle Bank Midwest. Comdata(R) Corporation (www.comdata.com) is a leading business-to-business issuer and processor of payment cards, primarily in the retail and transportation industries. Ceridian Corporation (NYSE: CEN) is an information services company serving businesses and employees in the United States, Canada and Europe.Details
China Construction Bank and Bank of America have indicated they plan issue a credit card in 2007. BofA took a $3 billion stake in CCB last year and recently agreed to sell its 16 branches in Hong Kong to CCB. BofA reportedly was pushing to launch a credit card in China this year but is still working out the details of its relationship with CCB.
CCB is one of the four biggest banks in China, with operations covering over 18,000 ATMs and almost 1,000 self-service branches.
Internet Payment Solutions, a/k/a PayByCash has added six more payment options for its Eastern European customer base. This extends PayByCash’s accessibility to Russian Federation and Eastern European customers from six convenient payment options to twelve. There are well over 30 million Internet users in the Russian Federation, Ukraine and Belarus alone. Most Eastern European ecommerce is via many regionally popular payment methods, not credit cards. At this time, among Western payment processors, only PayByCash can accept payments for merchants via a majority of the most popular alternate payment methods. PayByCash provides more than 50 payment methods reaching into all regions of the world, typically with no transaction fee.Details
KY-based Retriever Payment Systems will see its merchant processing services grow from 100,000 to 260,000 merchant locations in the U.S. following a deal announced Friday. Financed by GTCR Golder Rauner, Iron Triangle Payment Systems, which owns Retriever will acquire the independent sales organization business of BA Merchant Services. Bank of America’s BA Merchant Services ISO channel serves more than 140,000 merchant locations. The transaction also includes the National Processing Company brand name. Additionally Best Payment Solution, which operates as a separate wholly-owned subsidiary of BA Merchant Services, is included as part of the transaction. BPS provides services to an additional 20,000 merchant locations. The combined businesses will support over 700 independent sales offices and more than 650 community and regional banks. ITPS was founded in 2003 by Thomas Wimsett, former CEO of NPC, in partnership with GTCR. TX-based Retriever Payment Systems and KY-based Iron Triangle Payment Systems merge on January 1st, 2005. (CF Library 1/24/05)Details
Bank of Communications and Wal-Mart have formed an alliance to launch a general purpose credit card in China. Wal-Mart plans to introduce the card in six stores located in Shanghai, Nanjing and Fuzhou. Wal-Mart indicated it will eventually market the card at all its 60 locations nationwide. The card will offer special discounts at Wal-Mart stores. It is the first credit card to be issued in the country by a foreign retailer. The card will be a dual-currency credit card for use outside China. The Bank of Communications and HSBC jointly run the Pacific Credit Card Center which has issued more than one million dual-currency credit cards over the past twelve months. HSBC says it expects the joint venture will become profitable as a result of the Wal-Mart deal.Details
Atlanta-based Global Payments has named Ruth Ann Marshall, former President of the Americas for MasterCard, to its Board of Directors effective September 26th Prior to joining MasterCard, Marshall also held executive leadership positions within the payments card industry including her service with Concord, EFS; Electronic Payment Services, Inc; and BUYPASS. Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi- national corporations located throughout the United States, Canada, Latin America, Europe and the Asia-Pacific region.Details
Wincor Nixdorf is deploying its first 30 ATMs to three of the local banks in the Kingdom of Cambodia. ACLEDA, Union Commercial Bank and Vattanac Banks will offer the first ATMs. Wincor has been growing about 20% annually Asia/Africa region. Wincor Nixdorf is the
world’s third largest supplier of POS systems and ATMs and the number one supplier of POS systems in Europe.
GuardID Systems released the results of a national survey that shows 44% of respondents mistakenly believe that their up-to-date anti-virus and anti-spyware software protects against phishing attacks. Anti-virus and anti-spyware protects users against virus and spyware intrusions but does not protect against schemes that lure users onto bogus financial websites or hijacked DNS servers — known today as phishing and pharming attacks. Consumers do not realize the serious impact of these threats and are losing billions of dollars to these schemes annually. GuardID Systems, a privately held company, designs, develops and markets anti-phishing and pharming products to help consumers protect themselves against online identity theft and other forms of fraud.Details
Digital Insight and Metavante have inked three new agreements covering real-time payment capabilities; stored-value gift cards; and reseller and third-party partnerships. Under the terms of one new agreement, the Digital Insight-Metavante strategic partnership will expand to include NYCE Network real-time payments technology that gives online banking users of Digital Insight client financial institutions the ability to securely conduct inter-institution account-to-account (A2A) funds transfers. Metavante Corporation delivers banking and payments technologies to financial services firms and businesses worldwide. Digital Insight Corporation is the leading online banking provider for financial institutions.Details
Office Depot has contracted with FDC’s TeleCheck to provide the “ECA” service in the company’s more than 1,000 stores nationwide Customers presenting checks at Office Depot locations beginning this fall will benefit from increased security and convenience as the company converts those checks to electronic transactions at the point of sale. The service utilizes the Automated Clearing House Network (ACH) to collect the funds from the customer. This process is growing steadily and attracting merchants nationwide. First Data Corp. (NYSE: FDC) is a leading provider of electronic commerce and payment solutions for businesses and consumers worldwide. Office Depot provides more office products and services to more customers in more countries than any other company.Details
PA-based Penton Media is holding a free roundtable Webcast series tomorrow for convenience store retailers entitled: “Controlling the High Cost of Credit Card Fees”. The increasing rate of card fees is of great concern for the convenience industry. While industry profits showed a strong swell in 2005, credit card processing fees leapt to record levels. Convenience Store Decisions is the in-print idea factory for executives and management personnel at the headquarters of convenience store chains, franchises, petroleum marketers, and independents, with a circulation of more than 41,000 professionals.Details
Wal-Mart is phasing out its layaway program and will promote its payment card programs instead. For the first time, customers who apply for a new “Discover” or “Wal-Mart Credit Card” will receive $20 cash back when they apply at the register and purchase at least $100 on their card the same day. The giant retailer says declining use and increasing costs forced the decision. Customers will have until November 19 to place items in layaway for this Christmas season and merchandise must be picked up by December 8.Details