TSYS Prepaid CEO Moves to Prepaid Media

New Hampshire-based Prepaid Media has hired Anil Aggarwal, who recently left TSYS Prepaid as CEO and a director, as its new CEO. From 2004 to 2006, Aggarwal was chief executive officer and a director of TSYS Prepaid, a wholly owned subsidiary of Total System Services (TSYS. Aggarwal is also founder and chairman of the Network Branded Prepaid Card Association (NBPCA), a non-profit, inter-industry trade organization. Aggarwal received his Juris Doctor cum laude and with honors in his concentration, business organizations and finance law, from Boston University School of Law and Bachelor of Science from Albright College. Prepaid Media provides a host of business-to-business, integrated media and information services to numerous emerging industries.

Details

Polbank EFG Uses Card Tech’s Support

Polbank EFG is set to open 50 branches by year end, using systems developed by Card Tech Limited. The bank is now offering a VISA-branded card to its retail customers. Using PRIME’s “Installments” module, the bank has introduced the option for cardholders to pay for goods in interest-free installments. Athens-based Eurobank, the parent of Polbank EFG, has been a CTL client since 2002. It has used CTL’s
“PRIME” and “ONLINE” card management software to manage over one million cards. Eurobank currently accounts for 47% of the total card issuing market in Bulgaria and just under 40% in Romania.

Details

PayPal Launches Mobile Payments Service

PayPal this morning will unveil a text message-based service allowing consumers in the U.S. and Canada to send money, purchase items or donate funds via their mobile telephones. The new “PayPal Mobile” service is PIN-protected with financial information stored on PayPal’s secure servers. Users simply register their mobile telephone numbers. Using PayPal Mobile’s “Text to Buy” service, consumers can purchase things instantly by sending product codes via text message. PayPal Mobile also enables users to “Text to Give” to charities. PayPal does not charge to send money by phone or to receive money into a PayPal Personal account. However, “PayPal Premier” or “Business” accounts are charged the standard rates for receiving payments. The “PayPal Mobile” services was piloted among employees for six months. PayPal currently has 106 million accounts, passing the 100 million milestone in mid-February. During the fourth quarter, PayPal handled 139.7 million payments. (CF Library 1/18/06; 2/14/06)

PAYPAL ACCOUNTS
1Q/05 71.6 million
2Q/05 78.9 million
3Q/05 86.6 million
4Q/05: 96.2 million
1Q/06:106.3 million
Source: CardData (www.carddata.com)

Details

Fairbank Receives a Leadership Award

Stanford University’s Graduate School of Business honored Richard Fairbank, chairman and CEO of Capital One, with the School’s “2006 Excellence in Leadership Award.” Fairbank began his financial career in 1981 at Strategic Planning Associates (later, Mercer Management), where he spent seven years as a consultant ultimately specializing in banking. While at SPA, Fairbank developed the idea that would ultimately become Capital One’s hallmark — using information to integrate traditionally separate functions of marketing, credit, risk operations, and technology — to offer financial services tailored to fit each customer’s individual needs. Fairbank was He earned his undergraduate degree in economics at Stanford University in 1972 and his MBA from the Stanford Graduate School of Business in 1981.

Details

GPN Adds Internet Check Processing

Global Payments has added Internet check processing to its payment processing applications including “Retail @dvantage – Verix SoftPay” and “Restaurant @dvantage – Verix SoftPay”. The @dvantage – Verix SoftPay applications operate exclusively on the Omni 3740 and Omni 3750 payment systems from VeriFone Holdings. In addition, Global has added support for MagTek’s MICRImage Ethernet-enabled check scanner, providing the merchant with a total Internet protocol solution by eliminating the need to store and deposit paper checks.

Details

Level Four Software Lands an ATM Expert

Level Four Software has appointed Terry de la Mothe as product manager.
de la Mothe will develop the company’s capability as a 21st century
product development software factory, taking responsibility for the
overall functionality and release cycle of new products. De la Mothe has
more than 20 years experience of the EFT and card
processing industry and has spent many years managing technical projects
in the ATM channel. Most recently, de la Mothe worked for testing
software vendor Ascert Ltd, within their on-site services team at VISA
International, where he was responsible for supporting the system
testing of the new VISA VDPS Authorisation platform. Level Four provides
ATM testing and development software to retail banks and ATM
manufacturers.

Details

FDC & ABN AMRO Ink an Intl Processing Deal

First Data and Netherlands-based ABN AMRO have signed a five-year international merchant acquiring and processing deal. Under the agreement, First Data will deliver global payment processing services to worldwide merchants and ABN AMRO will provide merchants access via its global transaction banking network to card and payment systems and banking services throughout Europe, Asia Pacific and Latin America. It is anticipated that the service will be rolled out this quarter and fully implemented by 2007. The agreement covers MasterCard and VISA transactions outside the United States. ABN AMRO will also be providing global treasury and funds transfer services to First Data.

Details

EZCheck to Resell Mobilescape 5000

Houston-based EZCheck has inked a deal to resell Commerciant’s “Mobilescape 5000” wireless check and credit card processing solution. The combined offering will help businesses speed the collection of funds and reduce payment processing risks in the field. In addition, ISOs and agents who represent EZCheck will be able to create new revenue streams by targeting under-served markets such as residential services and home food delivery. EZCheck is a leading information and payment services company. Commerciant engineers, designs, customizes, activates and supports wireless solutions.

Details

Diners Club Adds P-Cards to its Suite

Citigroup’s Diners Club has introduced a new purchasing card. The new “Diners Club P-Card” enables users to review, reconcile and reallocate transactions, create and maintain accounts, generate and download reports and integrate program data back into internal financial systems. Diners says it recently conducted a survey which showed that 44% cited better expense tracking as the number one advantage of a “P-Card” program and 39% indicated more streamlined buying process and reduced costs of processing transactions with a “P-Card.” Diners says 70% of respondents stated that it took their organization less than one year to put a “P-Card” program into operation. Diners Club linked to the MasterCard network one-year ago for its U.S. and Canadian cardholders. (CF Library 2/25/05)

Details

PreCash Enters a Joint Venture to form China eCash

PreCash has signed an agreement to form China eCash. The joint venture
will operate in China and will provide prepaid replenishment to markets
including the Chinese mobile communications market, which in the last
two years reached numbers that exceed the entire population of the
United States. National contracts are already in place with the
country’s two leading mobile service providers, China Mobile and China
Unicom. China eCash also has an existing retail network of 55,000
locations and an established customer base in five provinces, secured
through the partners in the joint venture, The move brings the
number of PreCash retailers worldwide to 85,000. PreCash expects to
process approximately 125 million payments worldwide in 2006, for a
total of nearly $3 billion in transactions on their system for the year.

Details

32% of Consumers are in a Card Fog

NJ-based Braun Research conducted a recent consumer survey that shows about one-third of consumers don’t read or don’t understand the credit card disclosure chart in mail offers. More than 20% of respondents had trouble locating pertinent information. Nearly 44% of respondents did not know the APR charged on their credit cards and 20% of cardholders did not know their credit limit. About 70% were unaware of “universal default” policies. The survey was released by Lynnette Khalfani, author of “Zero Debt: The Ultimate Guide to Financial Freedom” and other books. Khalfani is sponsored by Capital among others.

Details

Teleconnect to Resell MediaWizz Multimedia Kiosks

Teleconnect has signed an agreement with Holland-based MediaWizz to
provide to Teleconnect 1000 “Multimedia Kiosks” to
be placed in key, pedestrian intensive areas. The kiosks
provide a range of services including image printing capability from
mobile phones via Bluetooth, electronic ticketing, internet access,
electronic charge system connected with major credit cards, generation
of Teleconnect’s PINs for its prepaid cards, recharges for prepaid cards
and recharges for mobiles. Teleconnect provides commercial and
residential users in Spain with an array of prepaid
services.

Details