Wincor Nixdorf has hired John Tyler, formerly with Diebold, as VP/Banking to oversee all aspects of the company’s banking solutions business in the USA and Bill Raymond, formerly with Bank of America, to manage relationships at some of the largest organizations in the USA. Tyler has more than 20 years of professional experience in providing technical solutions to the banking industry. Most recently, Tyler was Executive Vice President of Global Payment Technology Group with Carreker Corp. Raymond has more than 20 years of executive technology management and financial services marketing experience in the electronic funds transfer and retail banking industries. He previously served as president at Genpass ATM Solutions. Wincor Nixdorf is a supplier of IT solutions with net sales of approximately $2 billion USD.Details
Virginia-based Intersections reported net income for the third quarter of $3.5 million, compared to $3.5 million for the year-ago quarter. Total subscribers increased to approximately 3.4 million as of September 30th, compared to approximately 3.2 million at the end of the second quarter. Subscriber additions in the third quarter were approximately 770,000. Intersections is a provider of branded and fully-customized consumer credit management and identity theft detection, protection and resolution services to the customers of financial services companies. For complete details on Intersections’ latest results, visit CardData ([www.carddata.com]).
VISA announced an aggressive strategy to accelerate smaller-ticket acceptance. Effective April 2006, VISA’s “No Signature Required” program will eliminate the signature requirement for authorized transactions of less than $25 to speed checkout in 17 merchant segments (such as drug stores, taxis, tolls and bridges, dry cleaners and movie theaters). VISA will also double the number of merchant segments that qualify for the existing “Small Ticket Payment Service,” which offers reduced interchange on consumer transactions of $15 or less, and eliminates the signature requirement. Additionally, VISA will reduce the current interchange reimbursement fee on VISA consumer check card transactions of $15 or less at eligible merchants who participate in the “Small Ticket Payment Service” program. VISA’s comprehensive small ticket program will replace an older program called the “Express Payment Service,” which only extended to four merchant segments. VISA’s volume for purchases under $25 in these segments totaled $39.2 billion in 2004 and is expected to grow.Details
The Interac Association has approved Hypercom’s “Optimum L4105” multi-application credit/debit terminal for use within the IDP network.
The signature capture card device enables large, multi-lane retailers, with stores in both the U.S. and Canada, to establish integrated cross-border payment systems. The “L4105” offers a 200Mhz 32-bit
Intel “XScale” processor; a 64K color 5.7″ 1/4 VGA screen; bi-directional, a dual-sided intelligent magnetic stripe reader; an advanced screen protection and replacement system; multiple connectivity options; and an optional contactless RFID reader. In 2000, IDP
surpassed cash for the first time as Canadians’ preferred way to pay for
TSYS has renewed its processing agreement with Metavante Corporation, continuing the longest relationship that TSYS has maintained with any single client. TSYS has delivered consumer and commercial credit card account processing services to Metavante since 1979. Metavante is a wholly owned subsidiary of Marshall & Ilsley Corporation. TSYS provides outsourced payment services.Details
The first survey on children and gift cards shows that the majority of children aged 5-14 have received or purchased a gift card. The annual Stored Value Systems survey found that four out of five parents say that they have purchased a gift card for their child or that their child has received a gift card. In fact, parents say they purchased slightly more than three gift cards for children, both for their own or for others, in the past year with an average value of $29. On average, parents have purchased two gift cards for their own child in the past year. Seven in 10 children spend gift cards within one month of receiving them.Details
Paymentech Canada has introduced the portable “Express Aerial”
terminal from American Express. The “Express Aerial” is cordless and has
a range of 30 meters inside and 100 meters outside, the terminal can be
taken directly to the customer, making payment at the table
quick and easy and providing peace of mind for customers as they do not
lose sight of their credit or debit card during the payment process.
Last year, Paymentech processed 8.5 billion transactions (U.S. and Canada) and $200 billion bankcard volume in 14 currencies.
VISA USA unveiled its fourth quarter holiday promotion, “VISA’s $1.5 Million Holiday Giveaway,” an integrated marketing campaign awarding an unprecedented 50,000 winners with $25 prizes, plus a grand prize of $250,000 from the largest prize pool VISA has ever introduced for a fourth quarter promotion. The integrated program will combine a national advertising campaign, an interactive online component and a comprehensive consumer giveaway. From November 1 to December 31, 2005, VISA cardholders will be automatically entered for a chance to win by using a VISA card to make purchases, online or offline, at millions of merchant locations or entries can be made online at the VISA website.Details
VA-based Transaction Network Services has hired Thomas Dunn, former president, CEO and co-founder of CardPoint, to head strategic account development for the POS division. Dunn brings nearly 30 years of experience in the electronic transactions and payments industry to TNS. At CardPoint, Dunn launched an Independent Sales Organization (ISO) providing a full range of acceptance services including credit, debit, EBT, loyalty and gift card offerings. Prior to CardPoint, he spent 13 years with Global Payments, Inc., an electronic payments processor. Transaction Network Services provides business-critical, cost-effective data communications services for transaction-oriented applications.Details
MI-based Asset Acceptance Capital, a purchaser and collector of charged-off consumer debt, reported third quarter revenues of $64 million, a 14.3% increase and cash collections of $78.2 million, a 17.0% increase over one-year ago. Net income for the quarter was $13.7 million, compared with net income of $12.8 million for 3Q/04. During the third quarter, Asset Acceptance invested $28.0 million to purchase consumer debt portfolios with a face value of $1.1 billion, representing a blended rate of 2.49% of face value. Quarterly collector productivity on a full-time equivalent basis was $36,454 in the third quarter of 2005, a decline of 9.4 percent from the year-ago period. The Company reported that on a year-on-year basis, the average number of collectors increased 17.2% to 1,067 collectors in the current period. For complete details on AACC’s latest results visit CardData ([www.carddata.com]).
Amsterdam-based GlobalCollect has agreed to a management
buyout from TNT, backed by Waterland Private Equity Investments and Prime Technology Ventures. The Company offers international e-commerce merchants the ability to accept local payment solutions in over 50 countries. Payment services are not part of TNT’s core business, which has led to this change of ownership. Waterland Private Equity Investments takes up the majority of the new investment. GlobalCollect remains independent from banks and card processing organizations.