According to a new poll the number of online users has reached an estimated 172 million this year. According to Harris Interactive, 77% of adults are now online, up from 74% in February/April 2005, 66% in the spring of 2002, 64% in 2001 and 57% in the spring of 2000. The proportion of adults who are now online at home has risen to 70%, up from 66% in 2005 and 55% in the spring of 2002. The percentage of those online at work has not really changed.Details
VISA Europe has launched “VIS”, an information management solution that
will enable companies of all sizes to make better business decisions.
“VIS” is a comprehensive web-based reporting and expense management
solution that helps companies monitor expenditure and streamline
The decision to launch “VIS” in Europe follows extensive research into the
business market by Visa Commercial Solutions that indicated of the 20.5
million small to medium sized businesses in the region, over 50% consider
on-line data reporting and expense management tools to be attractive
features of a commercial card offering.
California-based International Card Establishment is selling its GlobalTech Leasing Unit for $2.5 million, cutting its headcount by 50% and signing a three year processing and servicing agreement with FTS to enable the company to focus on the merchant bank card and gift & loyalty card processing market. The new processing and service agreement with FTS should result in I.C.E. generating positive EBITDA and cash flow by the third quarter 2006. I.C.E. is a provider of diversified products and services to the electronic transaction processing industry.Details
Pennsylvania-based NCO Group has promoted John Schwab, formerly the Company’s SVP and Chief Accounting Officer to EVP/CFO, and Steven Winokur, the Company’s former CFO, to EVP/COO of Shared Services. Schwab joined the Company in April 2004 with the acquisition of RMH Teleservices, Inc. and has been responsible for the financial accounting, accounting policy implementation, and reporting. Winokur served as the Company’s CFO since 1995. Over the past several years he has focused increasing amounts of time on the development of the company’s shared services infrastructure, including focus on ERP and off-shoring. NCO Group is a global provider of business process outsourcing services.Details
Dublin-based transaction reconciliation and payment infrastructure specialist Trintech Group reported first quarter revenues of $11.1 million, a 15% decline over 1Q/05 due to lower product and license revenues. The net loss for the quarter was $2.1 million, compared to net income of nearly $400,000 one-year ago. During the quarter, Trintech announced the acquisition of Assurity Technologies for up to $5 million and a partnership with Dresser Wayne. Several “ReconNET” clients were signed including Lloyds TSB Asset Finance Division, Driehaus Capital Management and Canada’s The Bargain! Shop. For complete details on Trintech’s latest results, visit CardData (www.carddata.com).Details
Toronto-based TD Bank Financial Group has selected Fair Isaac’s
“TRIAD” adaptive control system to enhance account management decisions for
its credit card accounts. The “TRIAD” system, hosted at global payment
services firm TSYS, will serve as TDBFG’s exclusive system for
account-level decision management. Fair Isaac’s “TRIAD” adaptive control
system applies predictive analytics, decisioning software and strategic
consulting to help lenders automate and improve credit account management. Nearly 300 customer credit portfolios, representing 85% of
the credit card volume in the U.S. and 65% of the world’s credit
cards, are managed using “TRIAD” systems.
A new study has found that consumers have increased their debt by 3.6% last year after increasing 8.6% in 2004. Over the same two-year period, minimum monthly payment obligations have increased by 10%. Experian’s “National Score Index” also found that the number of late payments increased nearly 20% between 2004 and 2006. The “Index” is based upon a nationwide sampling of the million consumer credit profiles. The figures do not include mortgage debt.
Feb 2004 Feb 2005 Feb 2006
Avg Debt: $10,371 $11,261 $11,669
Avg Payment: $489 $506 $538
Avg Late Pay: 0.78 0.88 0.93
Avg Inquiries: 2.59 2.43 2.33
Avg Open Credit Cards: 3.17 3.12 3.11
Source: Experian’s National Score Index
Al Rajhi Bank (ARB) has licensed ACI Worldwide’s “Smart Chip Manager” and will use the software to manage the issuing and acquiring processes of its smart card deployment of 4.3 million cards over its 1,500 ATMs and 400 branches. “Smart Chip Manager” will enable ARB to issue debit cards that will support secure international EMV payments as well as the smart card enabled domestic SPAN2 payments framework. “Smart Chip Manager” will be used to migrate the credit card portfolio of ARB to the EMV standard. ARB will be the first bank in the region to instantly issue smart cards.Details
The Florida chapter of the League of United Latin American Citizens has entered into an agreement with Access Card Systems to offer its members the “ACCESS DineroYa Prepaid MasterCard” and the ACCESS DineroYa Maestro Card issued by BankFirst. The cards serve a large population of young adults, recent immigrants and other consumers who do not have bank accounts, cannot qualify or do not want credit cards. LULAC is the largest and oldest Hispanic Organization in the United States. Access Card Systems is a registered MasterCard Membership Service Provider.Details
Dublin-based transaction reconciliation and payment infrastructure
specialist Trintech Group reported first quarter
revenues of $11.1 million, a 15% decline over 1Q/05 due to lower product
and license revenues. The net loss for the quarter was $2.1 million,
compared to net income of nearly $400,000 one-year ago. During the
quarter, Trintech announced the acquisition of Assurity Technologies for
up to $5 million and a partnership with Dresser Wayne. Several
“ReconNET” clients were signed including Lloyds TSB Asset Finance
Division, Driehaus Capital Management and Canada’s The Bargain! Shop.
For complete details on Trintech’s latest results, visit CardData (www.carddata.com).
Colorado-based Springbok Services, a prepaid MasterCard specialist via Key Bank, has become the 20th company in the U.S. to be certified for personalizing, embossing, encoding and mailing MasterCard, Maestro or Cirrus Cards for members. Springbok is a provider of program management, processing and fulfillment services for prepaid MasterCard card programs issued through KeyCorp.Details
A new research report suggest that “Near Field Communications” technology for payments will shift from cards to phones due to the limited functions of cards. ABI Research says that over 40 million cards, mini-cards, and fobs will ship globally in 2006, compared to 10 million contactless payment cards last year. By 2010, ABI predicts more than 50% of cellular handsets, or about 500 million units, will incorporate NFC capabilities that will be used not only for payments at points of sale and remotely, but also to access information from smart objects. Technology vendors, cards issuers and a wide variety of service and product providers will have to think holistically.Details