MS-based ATM manufacturer Triton Systems has promoted James Phillips to Senior U.S. Retail Manager.Details
An innovative credit card launched two years ago has awarded $580,000 in prize money to-date. The “American DreamCard MasterCard” has a monthly sweepstakes jackpot that starts at $25,000. Cardholders receive 1,000 free entries when they apply for the card and earn an entry for every dollar spent on the card, up to 1,000 entries per purchase. Drawings are held on or about the 15th of each month. The card, issued by HSBC, has no annual fee and offers a five-month 0% interest rate for purchases. The on-going interest rate varies from 11.74% to 21.74% depending on the applicant’s credit score.Details
The Competition Appeal Tribunal has ordered the Office of Fair Trading to pay the legal expenses of VISA and MasterCard in a six-year probe of the networks’ interchange fee practices. The OFT is facing about GBP 5 million in reimbursements after the CAT annulled a previous OFT decision that VISA and MasterCard credit card interchange fees violated EU and UK competition law. The OFT ruled last September that the fees were illegal. Since then, the OFT began abandoning significant parts of its decision, even acknowledging that it is necessary for a four-party payment system operating with an “honor all cards” rule to establish default terms of reference between card issuers and merchant acquirers. VISA was represented by Freshfields Bruckhaus Deringer and MasterCard was represented by Lovells, Jones Day and Ashurst.Details
TX-based Wincor Nixdorf has opened its “eServices” CRM platform that connects its service management with service customers via an electronic network. The eServices platform is based on the following core services: customer care center/call handling, on-site services, and standard reporting. The Wincor Nixdorf Customer Care Center (CCC) represents the customer interface in the service management process. It includes the call center and help desk functions, and it manages all internal service processes. Wincor Nixdorf is one of the world’s leading suppliers of IT solutions to the retail and banking industries. The company’s extensive portfolio, consisting of hardware products, software, consulting, maintenance and other services, is aimed at reducing the cost and complexity of business processes while improving customer service.Details
San Diego-based Secure Payment Systems has certified its proprietary gift and loyalty card processing application for use on the “PrimeTrex” POS terminal manufactured by TechTrex. PrimeTrex is a high-performance and low-cost desktop terminal, featuring the fastest thermal graphics printer in the industry (prints 22+ lines per second), a large 128 x 64 graphical display, high-quality clear plastic backlit keys for dependability, and a 14.4 kbps modem for lightning fast settlements and downloads. Secure Payment Systems, Inc. (SPS) (www.securepaymentsystems.com) was founded in 1996 by Linden (Lin) Fellerman, former 20 year employee and 10 year President of the Telecredit / Equifax Check Services subsidiaries. TechTrex provides unique cost-effective hardware solutions exclusively for the card payments industry.Details
VA-based transaction network provider, TNS, reported second quarter revenue of $72.7 million an 11% year-on-year increase, however, the company posted a $900,000 net loss for the quarter, compared to net income of $300,000 in 2Q/05. Following the second quarter report the Company yesterday announced it was ending its investigation of strategic alternatives including a possible sale or buyout by management. The Company also replaced CEO Jack McDonnell as Chairman with John Sponyoe. TNS also said McDonnell will be retiring with a successor named in the coming weeks. McDonnell lead a senior management buyout attempt at $22 per share which was rejected in May. The Company says it will now focus on substantial cost-saving initiatives in an effort to further enhance stockholder value. For complete details on TNS’ second quarter performance visit CardData ([www.carddata.com]).
Indianpolis-based card processor, OneBridge, has licensed ACI’s “Proactive Risk Manager” fraud detection software. Proactive Risk Manager is a complete fraud detection solution for credit and debit (on-line and offline) programs and is currently protecting financial institutions around the world. It uses a powerful combination of rules and neural technology that recognize the obvious and the complex in combating fraud. OneBridge, a CISP compliant card processor, provides financial institutions with complete, one-stop card processing solutions to help them maximize the value of their in-house credit, debit and ATM programs. Every second of every day, ACI solutions are at work processing electronic payments, managing risk, automating back office systems and providing application infrastructure services.Details