Southwest Airlines and SmartClixx have teamed to launch a gift card. The “southwestgiftcard” is available for purchase at southwest.com, and is redeemable at southwest.com, Southwest Ticket Counter locations, or by calling Southwest Airlines Reservations. Southwest Airlines currently serves 61 cities in 31 states and operates more than 3,000 flights a day. SmartClixx LLC provides retailers with in-house stored value card/gift card application software and services without charging per-transaction fees.Details
Axalto showcased its two-factor authentication solution “Protiva” last
week at Cartes 2005. “Protiva” enhances Internet banking
security by combining something the user has, such as a personal device,
and something the user knows, such as a PIN code. The “Protiva”
solution is plug and play as it does not require any PC footprint nor a
complex back end system, making it simple to deploy and very cost
effective for banks. Online users are protected through a one-time
password application that generates a unique eight digit number created
each time the user connects. The smart card stores the application and
the secret keys that are used to encrypt and send the one-time password
to the bank. An authentication server performs the same cryptographic
computation as the smart card device and verifies that the one-time
A new poll has determined that 68% of parents plan to purchase a store-branded gift card this year. Only 22% plan to purchase a general purpose pre-paid gift card. The “Disney Rewards VISA Family Trends Report” found that 87% of parents who shop for the holidays feel that it is appropriate to give a child a gift card. The survey also found that 51% said they would surf the Internet until they locate the gift requested by their child. The survey was conducted by Harris Interactive for Chase, the issuer of the “Disney Rewards VISA” card.Details
U.S. Bank and the Northwest Missouri State University Alumni Association has partnered to launch a suite of “VISA Platinum” cards. The card generates support for the alumni association each time a new card is activated and repeatedly thereafter each time the card is used. The Northwest Missouri State University Alumni Association fosters lifelong relationships through initiatives and opportunities that advance the University and its alumni, future alumni and friends. U.S. Bancorp, with $207 billion in assets, is the 6th largest financial holding company in the United States.Details
Camarillo, CA-based International Card Establishment reported that revenues for the third quarter were $7.7 million, more than double one-year ago. Gross profit for the quarter was $1.1 million as compared to $539,355 for the three-month period ended September 30, 2004. The net operating loss was $1.6 million for the third quarter as compared to a net operating loss of $593,095 for the three-month period ended September 30, 2004. The Company recently reported that total charge volume for VISA/MasterCard transactions for September exceeded $24 million and that it is acquiring new merchant accounts at the rate of more than 600 per month. During the third quarter, I.C.E. signed five fifth new member in its “ISO Rep Program.” For complete details on I.C.E/s third quarter performance visit CardData ([www.carddata.com]). (CF Library 9/22/05; 11/8/05)
Vancouver-based Purdy’s Chocolates has launched an Ernex-powered gift card program.
The gift cards will give
Purdy’s customers the flexibility to load the card with any dollar
denomination between $5 and $250. Gift cards can be purchased and
redeemed at any of the more than 50 Purdy’s Chocolates locations in
British Columbia, Alberta and Ontario. Purdy’s debit and credit
transactions are processed using Moneris “HiSpeed 3100IP” terminals –
which will also now be used to activate and process gift
cards. Ernex is a division of Moneris Solutions. Moneris Solutions serves more than 350,000 North American merchant locations.
Intervoice signed an agreement to purchase Edify from S1 Corporation for $33.5 million in cash. The acquisition will strengthen Intervoice’s position in the voice automation market and the added revenues and resources will enable Intervoice to accelerate the development and delivery of multi-channel, automated information solutions for both its enterprise and network customers. The merger is expected to close in December 2005. Over the last four fiscal quarters, as published in Intervoice’s and S1’s respective quarterly disclosures, Intervoice and Edify had combined revenue in excess of $200 million. The Edify Corporation provides voice and speech applications. Intervoice provides platform, software, applications and services necessary to optimize voice automation solutions.Details
FreeStar Technology announced that its Helsinki-based Rahaxi Processing subsidiary has introduced a new service card payment platform with
Global Refund and Hypercom. The point-of-sale device
bundles into one device the automatic delivery of three functions:
payment transaction processing; dynamic currency conversion in 12 major
currencies for Visa and MasterCard users and VAT tax refund detection.
The customer gets a VAT tax refund check at the time of the transaction.
Global Refund offers tax-free shopping services for some 225,000
merchants in 37 countries. Rahaxi currently processes in excess of one million card payments per month.
Americans have made $1942.1 billion in purchases and cash advances on VISA, MasterCard, American Express, and Discover credit/signature debit cards so far this year. Based on U.S. data through September 30th, VISA and American Express each gained 30 basis points compared to one-year ago. VISA crossed the $1 trillion year-to-date milestone during the third quarter as its share rose from 53.6% to 53.9%. American Express’ share rose from 12.9% on September 30th, 2004 to 13.2% for this year. MasterCard and Discover both lost 30 basis points. MasterCard dropped to 28.9% and Discover slipped to 4.0%. Overall, volume is up 12.7% over 2004 according to CardData ([www.carddata.com]).
U.S. Year-to-Date Gross Dollar Volume
(excludes online debit)
NETWORK Q3 YTD GDV SHARE
VISA $1046.3 billion 53.9%
MasterCard $ 560.7 billion 28.9%
American Express $ 257.1 billion 13.2%
Discover $ 78.0 billion 4.0%
TOTAL $1942.1 billion
Source: CardData (www.carddata.com)
Points International has signed an agreement with GlobalPass to
provide Points.com members with the opportunity to swap their reward program miles and points for “GlobalMiles.” Members can also swap out of “GlobalMiles” for miles or points in other rewards programs, gift
certificates, music downloads and more. New consumers signing up online
will receive a welcome bonus of 200 “GlobalMiles” and will automatically
be entered to win one of 10 prizes of 25,000 “GlobalMiles.” GlobalPass is an independently owned mileage based frequency program featuring online access. GlobalPass customers use “GlobalMiles” as currency for the purchase of goods and services from participating providers, including airline tickets from over 500 airlines worldwide. They also earn miles for each dollar spent if payment is made with a credit card.
Portfolio managers involved in optimizations, modeling and other problem solving involving huge datasets can now access Numerical Algorithms Group’s updated “NAG C Library” which provides programmers with over 1,000 easily embedded numerical routines. Of particular interest to those working within the finance industry will be the extended optimization chapter, which now incorporates enhanced sparse matrix techniques, critical for efficiently solving problems that involve a very large proportion of zeros in the constraint or objective functions. A typical example is in a portfolio optimization problem where a constraint exists on the percentage of the portfolio invested in stocks within a given country. In such a problem there will be holdings specified for many stocks but most will be zero making the problem large but also predominantly sparse in nature. NAG’s C Library is available in a wide range of implementations, from PCs to supercomputers, covering Windows, Linux and major Unix platforms. NAG provides cross-platform mathematical, statistical, data mining components and tools for developers as well as 3D visualization application development environments.Details
PAR3 Communications and Princeton eCom have formed a strategic alliance combining PAR3’s automated notification solution and Princeton eCom’s electronic payment capabilities. The partnership enhances PAR3’s ability to accept immediate payment in response to a collections notification, and allows the companies to develop additional joint customers through the combined offering. Princeton eCom is a provider of electronic payment solutions with more than 1400 banks and 200 biller customers. PAR3 Communications, Inc. is the leading provider of enterprise customer communication solutions, delivering its solution through a software services model.Details