A new survey has found that the majority of the critical “Gen X” and “Gen Y” demographic believes that using mobile phones as payment devices is unnecessary. About 38% of this group indicate that they do not use their phones enough to make it worthwhile. The study by Market Platform Dynamics also found that more than 60% of those surveyed would not pay with contactless fobs, citing security concerns. By contrast, only 4% of “Gen X” and “Gen Y” have security concerns with existing payment devices. MPD says rewards drive the acquisition of payment devices, but not the decision to use a particular payment device at the point of sale. The research found that men in “Gen X” and “Gen Y” tend to be more motivated by rewards than women.Details
The ScotiaStar Network, announced the “Enjoy Your Home” Sweepstakes
that offers ScotiaStar Members the chance to win one of eight prize
packages including: a home theatre, hot tub, home gym, and home
appliance and tool packages. To enter, ScotiaStar Members shop with their
Scotiabank VISA card at any of the over 350 ScotiaStar Partners until July
31, 2006 to automatically receive an electronic ballot for a chance to
win. The ScotiaStar Network program gives customers automatic rewards.
Members receive up to 10 per cent cash rebates on the No-Fee ScotiaGold
VISA card, ScotiaLine VISA account and Scotiabank Value VISA card; up to
10 times the Scotia Rewards points on ScotiaGold Preferred VISA card; or
up to 10 times the Scotia Moneyback on Scotia Moneyback VISA card, every
time they shop at a ScotiaStar Partner.
AZ-based eFunds reports that first quarter net revenue increased 22% to $140 million, compared to the same quarter of 2005. However, first quarter net income was $10.7 million, a 10% decline over 1Q/05. eFunds noted that it posted a $3 million operating loss connected to its acquisition of Prepaid Solutions business in July 2005, due to the seasonality of that business and infrastructure investments. The Company re-affirmed its previously published guidance that 2006 diluted earnings per share will be between $1.15 – $1.25 and now anticipates that 2006 net revenues will trend toward the low end of its previously published range of 15% – 25% over 2005 net revenues. For complete details on eFunds’ first quarter performance, visit CardData (w[www.carddata.com]).
eFunds Revenues Historical
1Q/04: $140.9 million
2Q/04: $140.7 million
3Q/04: $140.1 million
4Q/04: $130.5 million
1Q/05: $114.2 million
2Q/05: $116.3 million
3Q/05: $133.2 million
4Q/05: $138.0 million
1Q/06: $139.7 million
Source: CardData (wwww.carddata.com)
MasterCard International unveiled a new online security solution for the
US banking market that includes a strong authentication solution designed
and developed by XIRING. Following the FFIEC guidance, US banks have been
directed to upgrade from single to two-factor authentication for
“high-risk” online transactions. This applies to more than 52 million
online banking users in the US. The “All-in-One” authentication offer,
including XIRING’s solution, will provide the added security required by
the FFIEC guidance. XIRING designs, manufactures and markets smartcard
based security products and solutions.
Fair Isaac has released “Blaze Advisor 6.1 for .NET”. Blaze Advisor 6.1 for .NET enables businesses to incorporate rules-based decisioning software that cooperates with and upgrades existing applications, regardless of platform or programming language. Microsoft and Fair Isaac customers will be able to leverage the Blaze Advisor system for the .NET environment to modernize existing systems and deploy new services to their enterprise systems.Details
Panda Restaurant Group has inked a deal to deploy NCR “RealPOS 70” terminals at its Panda Express and Hibachi San locations. Plans call for deployment at approximately 170 new stores and retrofits at 65 existing stores this year. The system is also designed for efficient upgrades, providing long-term investment protection as business needs change.Details
Texas-based Fujitsu Transaction Solutions has hired Peter Wolf, former VP of product management at MobileLime, as its new VP of marketing. Wolf, previously vice president of product management at MobileLime, is responsible for the strategic direction, leadership and overall management of Fujitsu’s marketing function. The scope of his role includes customer and program marketing, marketing communications and public relations.Details
INSIDE Contactless has announced an extension of its “MicroPass”
contactless platform with new support for the “VISA Contactless Mini Card”
and has achieved full compliance with Visa’s requirements for security,
performance and functionality of Visa Contactless. The “MicroPass”
platform is available today to Visa USA member financial institutions in
the “VISA Contactless Mini Card” form-factor through Giesecke & Devrient.
INSIDE Contactless is a fabless semiconductor provider.
BP and Chase have pumped up their co-branded credit card program. The new “BP VISA” now offers a 5% rebate on BP purchases, 2% on most travel and dining purchases as well as 1% on all other card purchases. Cardholders who apply during May and June will receive double rebates for the first 60 days after the account is opened. Every time cardholders accumulate at least $25 in rebates, they can redeem them for cash, a “BP Gift Card” or a donation to The Conservation Fund. In January, BP announced that it renewed its credit card marketing relationship with Chase including the BP co-brand card and the BP private-label card. (CF Library 1/18/06)Details
NCO Group reported that first quarter net income dropped 31% year-on-year to $10.5 million, due to special charges of $3.4 million. The special charges are associated with the previously announced restructuring of the Company’s legacy operations to streamline the Company’s cost structure and the integration of recent acquisitions. Overall revenue in the first quarter was $311.7 million, an increase of 19.7%, or $51.4 million, from the first quarter of 2005. ARM North America’s revenue was $229.1 million as compared to $198.4 million in the first quarter of 2005. The increase was primarily attributable to the acquisition of Risk Management Alternatives. For complete details on NCO’s first quarter results visit CardData ([www.carddata.com]).
Four Seasons has launched the “Four Seasons Hotels and Resorts Gift Card,” the first gift card from a luxury hotel company. Four Seasons is the first luxury hotel company to offer a gift card that is redeemable at all of its hotels and resorts around the world, has no expiry date, and no restrictions on how the value of the card is spent. The cars is available in denominations up to $5000.00.Details
Giesecke & Devrient has added a mini sized contactless card to their “Contactless Card Product Suite”. The launch of the Visa Contactless Mini Card is incorporated in the expanded Visa Smart Breakthrough program. Visa Smart Breakthrough is a global initiative to enhance the business case for chip technologies world-wide by making cards, terminals and personalization solutions more cost-effective to financial institutions, merchants and consumers.Details