NY-based IRN Payment Systems has selected and “Class A” certified Hypercom’s “Optimum T4100” multi-application card payment terminal. The T4100 gives IRN the flexibility to deliver one or more payment processing solutions on the same high-performance terminal platform. Global payment technology leader Hypercom Corp. delivers a full suite of high-security, end-to-end electronic payment products and services. IRN has provided electronic payment processing solutions through its PartnerAmerica Program to businesses nationwide for more than 18 years.Details
Raphaels Bank, a private bank with a major role in the emerging UK prepaid market, has selected Retail Decisions to provide fraud prevention and integrated payment gateway services for the “Cash2Go” pre-paid travel debit card. “Cash2Go” is a new card which provides immediate access to travel funds when needed, allowing cardholders to use their money at around 9 million shops and restaurants and 1 million cash machines worldwide. The card is pin protected. Raphaels Bank is part of the Lenlyn Group, which includes International Currency Exchange and Southern Finance.Details
Global Cash Access’ “Arriva” casino credit card is off to a flying start, signing-up more than 1,000 gaming patrons in its first few weeks. The card has achieved $2.5 million in transactions and has shown a direct mail response rate of over 1.36% by high-quality credit-worthy customers. The new card offers a grace period on cash advances; gives rewards for cash advances; allows cash advances on the entire credit line and charges lower fees and interest rates on cash advances than many credit cards. (CF Library 5/8/06)Details
Discover Financial Services has signed merchant acquiring deals with Global Payments and RBS Lynk. GPN has agreed to purchase the portion of Discover’s merchant portfolio for which it currently provides VISA/MasterCard processing and will begin to sell Discover Network card acceptance during the first quarter of next year. RBS Lynk will offer an integrated payment card processing package in November that includes Discover Network card acceptance, becoming one of the first to offer this new service to merchants. Under the terms of the RBS agreement, signed in August, RBS Lynk will offer small- to mid-sized merchants consolidated statements, settlement, and customer service. RBS Lynk sales channels will have full responsibility for pricing, processing, settlement, risk management and customer service for the merchant accounts. Discover currently has more than four million merchants in its network.Details
A new survey shows that three quarters of European consumers want a credit card which offers rewards and almost half admit they would spend the reward points on themselves. The MasterCard findings also indicate a growing preference for luxury rewards, with respondents
wanting to treat themselves to discounted city breaks (33%), free cinema, theater or concert tickets (26%), free spa days (25%), or a special house or garden makeover (24%). However, there is still strong demand for financial incentives at traditional retailers which
consumers use every day. Nearly two-thirds of those surveyed want a credit card that offers a discount on the price of the purchase they are making at the time, and 57% want cash-back in the form of a percentage of their spend at the end of the year.
Wachovia has inked a partnership with GE Money’s Corporate Payment Services to provide commercial and purchasing cards to its wholesale and treasury services customers. Under the terms of the partnership, Wachovia will sell, underwrite, manage and own the asset portfolio, which will feature MasterCard as its preferred brand. CPS will provide all back-office functions and an information-reporting and analytical toolkit. The Wachovia wholesale card business will be managed by Laura Rother. The company expects to begin selling its new product line to customers in the fourth quarter. Wachovia announced in November that it had terminated its existing joint marketing agreement with MBNA and re-entered the credit card business.Details
The “Travelocity MasterCard” has been re-launched with a new and improved rewards program that has no blackout dates or travel restrictions and can be redeemed online for travel on any airline, hotel, car rental company, or flight + hotel package available on Travelocity at any time. The “Travelocity Rewards MasterCard,” issued by Barclays Bank Delaware, offers double or triple points for travel purchased on Travelocity with the MasterCard, in addition to points on everyday purchases. Cardholders can redeem as few as 5,000 points for $50 off their travel booking or 7,500 points for $100 off a travel booking. A free flight worth up to $400, or $400 off flight + hotel packages, hotel stays or car rentals is available for 20,000 points. New cardholders receive either 5,000 Travelocity points or $50 statement credit with their first purchase plus up to 5,000 bonus points for balance transfers.Details
First Data has signed a deal to process online foreign currency payments for Chase Paymentech Solutions. Under the five-year agreement First Data, utilizing its “OmniPay” processing solution, will provide payment processing services to Chase Paymentech’s portfolio of global e-Commerce merchants. The Dublin, Ireland-based “OmniPay” merchant processing platform will process transactions for Chase Paymentech’s merchant portfolio, in most major currencies on a single platform in all markets where Chase Paymentech’s merchants are based.Details
Diebold is consolidating its EMEA operations in a new
headquarters location in Switzerland and is consolidating its international business operations. James Chen and Joao Abud have been promoted to lead the international business operations for the company. In addition to leading the company’s Asia Pacific operations, Chen will lead all sales and service operations in the Europe, Middle East and Africa (EMEA) region as vice president, EMEA/AP Division. Abud, in addition to his current leadership responsibilities in Brazil, will oversee the sales and service operations throughout all of Latin America as vice president of the company’s expanded Latin America Division.