TSYS has renewed its multi-year agreement to provide CompuCredit with processing and related services for its portfolio of nearly 6 million cardholder accounts. CompuCredit has been a client of TSYS since early 1997. Since then, CompuCredit has grown to become the 15th-largest provider of general-purpose Visa and MasterCard accounts in the United States. TSYS is a provider of outsourced payment services.Details
American Express has teamed with U2’s Bono and Bobby Shriver,
Chairman of DATA (Debt, AIDS, Trade, Africa), to produce
money to help fight AIDS in Africa. The new “American Express RED3” card
will be available March 1st. For every pound spent on the card,
American Express will donate a minimum of 1% to the Global Fund.
Spending above GBP 5,000 per year will generate an increase of 1.25% on
all spending above that amount and an extra GBP 5 will be given to the
Global Fund if cardholders make their first purchase on the card within
the first month. The Future Laboratory estimates there are currently 1.5
million consumers in the UK that will opt for the card, and possibly 3.9
million by 2009. “RED” is a global initiative whose primary objective is
to engage the private sector in the fight against AIDS in Africa by
channeling funds from the sale of “RED” products directly to the Global
Fund To Fight AIDS, Tuberculosis and Malaria.
JCB cardholders can enjoy a free night stay or a free room upgrade with
the Le Meridien Passport rate, which is up to 50% off standard room
rates until March 31st. JCB cardholders staying at selected hotels
in the Asia Pacific region or Europe can enjoy a fourth night free when
staying for three consecutive nights on Le Meridien Passport rates.
Another exclusive offer gives JCB cardholders a free room upgrade upon
check-in when staying at any Le Meridien hotel or resort worldwide for
two consecutive nights on Le Meridien Passport rates. JCB has 55.9
million cardmembers worldwide and Le Meridien has a portfolio of 120
luxury upscale hotels in 52 countries worldwide.
Certegy reported that fourth quarter consolidated revenue increased 5% to $296 million. Card Services increased 6.5% and Check Services increased 3.1% in 4Q/05. Card Services generated revenue of $167.4 million and Check Services generated revenue of $128.5 million. North American card transactions increased 4.7%, driven by 7.0% growth in the number of cards processed. Internet banking subscribers increased 17.5% and electronic bill payment users increased 28.1%. Institution merchant processing volumes increased 15.2%, driven by 12.9% growth in transactions and higher average ticket. Check Services operating income of $27.2 million increased 12.8% compared to $24.1 million in the fourth quarter of 2004. During the quarter, the company incurred legal, accounting and other direct costs of $1.6 million related to its pending merger with Fidelity National Information Services and $1.2 million related to the possible formation and acquisition of a majority ownership in a card and merchant processing joint venture in Brazil. For complete details on Certegy’s fourth quarter performance, visit CardData ([www.carddata.com]).
Smart card specialist Axalto posted fourth quarter revenue of $267
million, a 5% decline over the prior year quarter, which was the
strongest quarter in the Company’s history. The cards segment revenue
amounted to $250 million compared to $269 million in the year-ago quarter and $207 million in the third quarter of 2005. During the fourth
quarter, Axalto delivered more than 130 million microprocessor cards. In
financial cards, Axalto’s revenue rose 19% year-over-year to $52 million
with about 22 million cards delivered. The POS Terminals segment revenue
decreased by 20% year-on-year. For complete details on Axalto’s fourth
quarter performance, visit CardData (www.carddata.com).
New Jersey-based Heartland Payment Systems is making a strategic investment in Parcxmart Technologies which offers a patent-pending payment solution for parking. The investment will provide Heartland limited exclusivity as Parcxmart’s merchant acquirer to offer credit/debit card processing services to merchants that adopt the Parcxmart payment solution. The Parcxmart Card solution offers drivers and consumers a convenient one-card alternative to coins and cash for small-dollar transactions at on-street and off-street parking locations, as well as for micro ticket retail purchases at participating merchants. Parcxmart Technologies Inc. is an electronics payment company specializing in small-dollar transactions. Heartland Payment Systems provides credit/debit card processing and payroll solutions to more than 106,500 small-to medium-sized merchants throughout the United States.Details
San Francisco-based Pay By Touch has closed more than $60 million in new financing, raising more than $190 million during the past three months. The current funding allows Pay By Touch to continue to grow its suite of patented, secure biometric products and services while pursuing additional complementary acquisitions to accelerate growth into markets such as health care, Internet, petroleum, convenience stores, and quick service restaurants.Details
Fair Isaac reported fourth calendar quarter revenue of $202.8 million versus $195.5 million in the prior year period. Scoring Solutions revenues increased 17% to $46.2 million. However, Strategy Machine Solutions revenues declined 5% to $112.0 million, due to a decline in revenues associated with marketing services and insurance solutions. Professional Services revenues increased 11% to $32.8 million in the quarter. Analytic Software Tools revenues increased 34% to $11.8 million. For complete details on Fair Isaac’s latest performance, visit CardData ([www.carddata.com]).
Consumer data broker ChoicePoint has agreed to pay $10 million in civil penalties and $5 million in consumer redress to settle FTC charges that its security and record-handling procedures violated consumers’ privacy rights and federal laws for about 163,000 consumers. The settlement requires ChoicePoint to implement new procedures to ensure that it provides consumer reports only to legitimate businesses for lawful purposes, to establish and maintain a comprehensive information security program, and to obtain audits by an independent third-party security professional every other year until 2026.Details
Smart card specialist Axalto posted fourth quarter revenue of $267 million, a 5% decline over the prior year quarter, which was the strongest quarter in the Company’s history. The cards segment revenue amounted to $250 million compared to $269 million in the year-ago quarter and $207 million in the third quarter of 2005. During the fourth quarter, Axalto delivered more than 130 million microprocessor cards. In financial cards, Axalto’s revenue rose 19% year-over-year to $52 million with about 22 million cards delivered. The POS Terminals segment revenue decreased by 20% year-on-year. For complete details on Axalto’s fourth quarter performance, visit CardData ([www.carddata.com]).
Boston-based Arthur Blank & Co. is unveiling a “Talking Gift Card” at next week’s Marketechnics Show in San Diego. The “Talking Gift Card” uses a chip to record a 10-second message, powered by “Voice-Express.” The new card is part of Blank’s patented “RAC Card” series. Arthur Blank & Co.’s products include private label loyalty, gift, phone, credit, debit, membership, security I.D., and access cards as well as complete card numbering and personalization.Details
A U.S. District Court has entered an order dismissing the amended class action complaint that was initially filed in 2005 alleging securities violations by Hypercom and two former executives. In dismissing the complaint, the court stated that the plaintiffs failed to plead particularized facts establishing a strong inference that the Company and the other defendants acted with scienter, as required by the Private Securities Litigation Reform Act of 1995. Hypercom Corporation provides a full suite of high security, end-to-end electronic payment products and services.Details