Cash Systems Hires a New EVP/CFO

Las Vegas-based Cash Systems has landed Andrew Cashin, formerly with Alliance Gaming, as its EVP, CFO and Treasurer. Cashin brings more than 17 years of financial and operational experience as well as 13 years of experience in the gaming industry. During his ten years at Alliance Gaming, Inc., Cashin most recently served as a Senior Vice President of Bally Gaming, where he ran all business lines in the division, including the Sierra Design Group. Cashin has directly managed seven business integrations, including four systems technology acquisitions. He was also responsible for the daily oversight of Bally Gaming & System’s finance department from 2000 through 2003. Mr. Cashin began his professional career as an accountant with Arthur Andersen & Co.

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Voca Lands a SEPA Expert

Voca has appointed Erik Mansson as Director of European Business
Development. Mansson will lead Voca’s engagement with the European banking
community as Voca rolls out its new payments infrastructure. Mansson is a
leading expert on European cross-border payments and
electronic funds transfers in the Single Market. He joins Voca from the
European Central Bank, where he was the Senior Market Infrastructure
Expert. His role at the ECB included facilitating the development and
implementation of the SEPA strategy. He was responsible for coordination
of the ECB’s contacts with commercial banks through the European
Payments Council (EPC), and those with corporates through the European
Association of Corporate Treasurers (EACT). In addition to his experience
at the ECB, Mansson brings 15 years’ experience in the payments industry
gained in both corporate treasury and banking. He holds an MBA from the
Stockholm School of Business. Voca is a provider of payments services.

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Americans Resist Card Fees for Taxes

Consumer resistance to convenience fees charged for making tax payments on credit or debit cards is building. According to a new survey, nearly eight out of ten consumers say they “definitely will not” use a credit card the next time they owe incremental federal income taxes. Market research firm Ipsos Insight says its study revealed for the third year that while 68% of American adults are aware that the IRS accepts credit cards, only 1% plan to use a credit card to pay Federal income taxes for 2005. However, the IRS reports that 1.5 million paid by credit card last year, a 54% increase from 2004. MasterCard says taxpayers paid over $260 million in federal tax obligations with MasterCard cards in 2005. While the growth is impressive the numbers are infinitesimal in the big picture. Ipsos Insight says its research showed that 62% of Americans will use a personal check, 11% will use a money order and 7% will use direct debit to pay Federal taxes this year. The study also reported that if the card service were free, 23% of those open to the concept would use it, up slightly from the 21% reported last year. (CF Library 2/2/06)

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Chargeback Coverage Extended to Intl Purchases

The U.K. Court of Appeal has ruled that local credit card issuers must guarantee purchases made on international transactions.
According to guidelines by the Office of Fair Trading, such guarantees can cover single purchases worth between GBP 100 and GBP 30,000, even if the card is only used for a deposit. The court’s decision overturned a November 2004 High Court ruling that “Section 75” of the “Consumer Credit Act of 1974” did not apply to overseas purchases. “Section 75” covers foreign transactions including where a consumer uses a U.K. credit card to buy goods while abroad; a consumer orders goods from a foreign supplier while abroad for delivery into the U.K.; a consumer in the U.K. buys goods which are delivered to a U.K. address from overseas by telephone, mail order or over the Internet; and there is face-to-face pre-contract dealings with a foreign supplier temporarily in the U.K., or with a U.K. agent of a foreign supplier, but the contract is not completed in the U.K. Brits spent almost GBP 123 billion on domestic credit card transactions in 2004, and a further GBP 12.5 billion on overseas transactions.

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Shift4 Secures its POS Payment Drivers

Las Vegas-based Shift4 has released secure versions of its “MICROS 3700” and “8700” POS payment drivers that meet “Payment Application Best Practices.” The upgrade will reduce security vulnerabilities within legacy payment applications. Shift 4 says that payment applications may cause the majority of problems, they are not something that the merchant generally has direct control over. It is a problem that Shift4 found many of its existing customers were facing with their legacy “MICROS” systems. Shift4 utilized a combination of its “Tokenization” technology, which replaces the credit card number with a randomly generated unique ID, and data truncation. “Tokenization” eliminates the need to store credit card data anywhere in the system, enabling the systems to comply with the PABP requirements while still allowing for full reporting, incremental authorizations, credits and so forth. The enhanced “MICROS 3700” and “8700” solutions were independently audited by MD-based Fortrex Technologies.

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ePayments Corp Expands into NSF Market

Denver-based ePayments Corporation has acquired another Denver-based company specializing in NSF electronic check collection services. The acquisition of eCashflow Systems will enable ePayments to target the $11 billion NSF market. The deal will give ePayments 2,500 clients, including Arby’s, IGA, Great Clips and non profits like the National Federation of the Blind Merchants. Under terms of the purchase, eCashflow’s CEO Rod Hill has been retained along with 18 sales agents. ePayments provides electronic returned check collection, electronic check conversion, check authorization, check guarantee, check-by-phone/web, consolidated returns and credit card processing.

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EFMARK-Bantek Names an EVP for ATMs

ATM maintenance specialist EFMARK-Bantek has hired Anthony Manno, formerly with Fujitsu, as EVP of the Field Services division. As the integration of the country’s two leading ATM service companies continues, Manno will oversee the new company’s expanding portfolio of ATM support services. His area of responsibility, the Field Services division, encompasses first and second line maintenance, project management, installation services, and call center operations. Manno has more than 25 years of experience in the ATM industry, beginning as an ATM technician at Mellon Bank.

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CPI Card Group Adds Another Black Belt

CPI Card Group reports that Quality Manager Vin Benevento at its Colorado plant has received his “Six Sigma Black Belt”. Six Sigma is a disciplined, data-driven approach and methodology for eliminating defects in any process from manufacturing to transactional and from product to service. These projects are put in place in order to increase customer satisfaction levels and business productivity. CPI Card Group, a world leader in plastic card manufacturing for over 20 years, offers a single source for plastic cards from foil cards and holograms, to translucent and smart cards.

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World’s Foremost Bank Gets a New CEO

Cabela’s has promoted 10-year veteran Joseph Friebe as CEO of its credit card bank subsidiary, World’s Foremost Bank, effective June 1st. Friebe, 51, a 10-year Cabela’s veteran, has served as Cabela’s Vice President of Direct Marketing since July 2003. From March 1996 to July 2003, he was Cabela’s Director of Marketing. Prior to joining Cabela’s, Friebe worked for 13 years in the direct marketing business, most recently serving as a Vice President of The Sportman’s Guide. He began his career at Grant Thornton as a certified public accountant.

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Morgan to Market Cards to GADBA Members

Florida-based Morgan Beaumont has signed a MOU with the Great American Discount Buyers Association whereby Morgan Beaumont will be the exclusive provider of a debit card for inclusion in GADBA’s association membership. GADBA allows individuals, non- profit organizations, payroll groups and associations to purchase products, benefits and services at prices not normally available to the general public.

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ICICI Bank and Indiatimes Launch a VISA

India’s ICICI Bank and Indiatimes have teamed to launch a co-branded rewards credit card, according to today’s issue of CardFlash International. The new “Indiatimes ICICI VISA” offers 10% cash-back on most online purchases made on the Indiatimes shopping portal. The card also produces 5% cash-back on air travel tickets sold via the Indiatimes shopping portal. Additionally, cardholders are eligible for discounts up to 40% on certain Indiatimes purchases. Furthermore, cardholders earn four reward points for every $5.00 spent at Indiatimes. The points are redeemable for purchases on the shopping Web site. Indiatimes has set up a special section on its Web site, called “ShopMore” which is for the exclusive use of “Indiatimes ICICI VISA” cardholders. There are currently 1.8 million consumers shopping on the entire Indiatimes Web site which includes more than 500 merchants.

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MasterCard to Target Women Debit Cardholders

MasterCard will launch a major debit card promotion next month targeting women. Over the past two years MasterCard’s gross dollar volume on its U.S. debit cards has grown by 61%, topping $50 billion in the fourth quarter. The new “MasterCard Monthly Bonus Sweepstakes” will run from April 1st through May 31st. The promotion offers MasterCard debit cardholders in the U.S. the chance to win a $1,000 monthly bonus over the course of 10 years. MasterCard debit cardholders will be automatically entered with each purchase transaction. “Tap N Go” purchases made with a “Debit MasterCard PayPass” will receive double entries and three winners will be selected in July. The promotion does not apply to PIN-based & international transactions. The sweepstakes will be supported by radio and print. According to a MasterCard survey conducted by Millward Brown, 61% of the heaviest debit users are women.

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