Netherlands-based processor Interpay Nederland and Germany’s Transaktionsinstitut have agreed to merge by mid-year. The new firm will become the first European full-service payment processor in a consolidating payments market according to CardFlash International. The combined volume of the partnership will account for the processing and clearing of around 6.6 billion transactions per year, leading to a combined market share of the new entity in the Euro zone of over 10 per cent. The formation of a “Single Euro Payments Area” will result in Euro-domestic market, with harmonized basic payment products throughout Europe.Details
frontierAlt Investment Management Corporation and MAK Allen & Day Capital Partners have launched frontierAlt Card Services, a specialty company that offers secure debit payment and low-cost money transfer solutions electronically throughout the world. The frontierAlt Cash Card has bank level security and can be used at any ATM or retailer with Interac, Cirrus or Maestro portals. The card is re-loadable on-line and is designed to facilitate cash payments and transfers
for individuals as well as corporations.
Ireland-based Macalla Software is supplying its Mobile Top-Up software
and related services to enable mobile phone re-charge and payment
services in the Middle East. Branded “Mpay,” the initial service allows
prepaid subscribers on the MTC Kuwait network to directly re-charge
their mobile phones without having to travel to a retail outlet or hand
over cash and to pay for these top-up transactions via their nominated
bank facility. Top-up call credit is applied automatically within
seconds. The service leverages commercial agreements between Al Bahar
United, MTC, Axalto and the shared electronic banking services company
(Knet) through which all Kuwaiti banks participate. Supported channels
are SMS, JavaCard and web with services available in Arabic and English.
Mpay is a subsidiary of Al Bahar Telecom, a leading telecommunication
company that is a significant stakeholder in IT and Telecommunications
products and services companies in Kuwait and Middle East.
Tata Sons and the State Bank of India have launched a multi-brand
MasterCard in Delhi, Mumbai, Kolkata, Bangalore,
Hyderabad and Jamshedpur. The new “Tata MasterCard” offers the ability
to earn and redeem loyalty points via 18 brand categories. The
categories include airlines, books and publications, departmental
stores, durables, fuel, groceries, hospitality, insurance, jewelry,
watches and accessories and telecom. The new card is available in three
versions: “Privilege,” “Premier” and “Leaders.” The target is two
million cardholders over the next five years.
Fiserv’s ACCEL/Exchange Network reported that it grew its in-network transaction totals by 46% last year, signed 400 new members, including more than 210 credit unions and added 60,000 ATMs and 200,000 POS locations during the past year. Year-over-year transaction totals were 410 million in 2005, up from 281 million in 2004. The Network’s ATM transactions rose 27% to 52 million in 2005 from 41 million in 2004 and POS transaction activity increased 49% to 358 million in 2005 from 240 million in 2004. ACCEL/Exchange transactions are now enabled at more than 100,000 ATMs and 500,000 merchant locations throughout North America. The business unit operates more than 17,000 ATMs and currently processes approximately 435 million ATM and debit transactions per month.Details
GIFTS Software announced that Banco Bilbao Vizcaya Argentaria, New York has selected its “eGIFTS” funds transfer and payment
solution. eGIFTS is available on multiple platforms such as the IBM
“Pseries” and is a browser-based system. No special software is required
on the user PC. BBVA provides multinational financial services in 32 countries.
Denver-based ConnectYourCare has selected and completed integration with First Data Healthcare Services as its exclusive provider of single-source processing services for its entire suite of healthcare accounts. First Data will deliver healthcare card services, including a state-of-the-art transaction card processing solution that provides a convenient and secure vehicle for members to access their fund contributions at the point of care. The ConnectYourCare Solutions includes a single debit card and portal for employees to manage tax-advantaged accounts, claims adjudication and call center services, and comprehensive medical information and decision-support tools.Details
Cineplex Entertainment and MasterCard
Canada have teamed up to enable moviegoers carrying PayPass-enabled
MasterCard cards to pay for tickets and concession items by simply
tapping their cards at designated PayPass readers in three theatres in
the greater Toronto area and will expand the program to more than 100
Cineplex Entertainment theatres across the country throughout 2006.
Cineplex Entertainment LP owns, operates or has an interest in 130
theatres with 1,275 screens and is the largest motion picture exhibitor
Target reported that its pre-tax credit card profits for the quarter ending January 28th increased 43% over the year-ago quarter and 22% sequentially. Credit card outstandings increased 13%, topping $6 billion compared to 4Q/04. Target’s fourth quarter pre-tax credit card profits were $192 million, compared to $158 million in the prior quarter and $134 million one-year ago. Target reported that its total credit card receivables, which include its VISA and “Guest” cards, were $6.18 billion as of January 28th, compared to $5.46 billion one-year ago. Delinquency (90 days+) for 4Q/05 declined to 2.8%, compared to 3.2% in the prior quarter and 3.5% one-year ago. Charge-offs were 6.5% for 4Q/05 compared to 8.1% in the prior quarter and 7.6% one-year ago. Target’s credit card unit had revenues of $342 million in 4Q/05, a 19% increase over 4Q/04. For complete details on Target’s latest performance, visit CardData ([www.carddata.com]).
TARGET CARD LOAN HISTORICAL
(Excludes Mervyn’s & Marshall Field’s)
4Q/04: $5.456 billion
1Q/05: $5.251 billion
2Q/05: $5.421 billion
3Q/05: $5.544 billion
4Q/05: $6.177 billion
Source: CardData (www.carddata.com)
Shanghai-based Blue Bamboo announced that its H50 terminal has
been certified under the new “Payment Card Industry PIN Entry
Device” standards established by VISA and MasterCard. The Company is the
first company to certify a Java based STIP transaction device. Blue
Bamboo designs, develops and markets transaction technology.
Hypercom has installed 100 “VISA Contactless” terminals at AT&T Park for the San Francisco Giants. In Visa trials, contactless payment card transactions proved an average of 25 percent faster than using cash. To date, there are 4 million Visa Contactless cards issued worldwide and 20,000 accepting merchant locations in the United States.Details