Lynch to Head a B2B Payment Solutions Firm

Dennis Lynch, the former president and CEO of NYCE, has joined MA-based Collaborative Financial Concepts, the developer of the “Business Payment Connection,” as chairman. During his tenure, NYCE became one of the largest consumer payment entities in the United States, serving over 2,100 financial institutions at more than one million ATM and retail locations and he was chairman of NYCE for several years and director of NYCE’s Network Board. Collaborative Financial Concepts is a business-to-business payment company.

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Welcome Releases a POS White Paper

Welcome released a white paper titled “Creating Competitive
Advantage at the POS,” the most heavily used customer contact channel,
which shows how a new generation of card products supporting enhanced
payment features can make the moment of payment more fun and exciting,
thereby creating differentiation directly at the point-of-sale.
The moment of payment is one of the very few times that a customer is
holding a payment card in their hands and getting ready to use it. The
rest of the time it’s in the customer’s wallet and probably out of their
mind. Welcome is a provider of payment software that utilizes the full capabilities of EMV standard chip credit and debit cards. The white paper is based on Welcome’s experience with banks migrating to EMV and surveys from consulting companies.

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GreenZap Slowly Nibbles at Rival PayPal

San Diego-based GreenZap reports it has signed up more than 300,000 members for its online payment service within the first 60 days of launch. GreenZap says its flat fee pricing and rewards program are its clear advantages over rival PayPal. PayPal charges a percentage for each transaction. The GreenZap rewards program compensates its account holders with $25 in “WebCash” for opening an account and further rewards members with $5 “WebCash” for referrals. “WebCash” can only be spent online to cover GreenZap transaction fees or to purchase goods and services at a discounted rate in GreenZap stores or at a number of auction sites. GreenZap offers two types of accounts, a basic “GreenZap” account and an upgraded “Gold” account. The “Gold” account offers reduced transaction fees, increased rewards and a “GreenZap Stored Value MasterCard/VISA” for off-line spending. (CF Library 6/2/05)

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VISA Debuts Birds TV Commercial with Gere

VISA International announced the launch of its new TV commercial featuring Hollywood actor Richard Gere, currently being aired
in the Asia Pacific region. Filmed in India, the central theme of the new “Birds” commercial is the spirit of generosity and the giving spirit demonstrated through the ritual of
letting birds go free to bring good luck to a relative or friend
embarking on a journey, a ritual that runs across several different
cultures in the Asia Pacific region. Mumbai-based Ranjit Barot composed the music for the commercial, which was produced and developed by VISA’s advertising agency BBDO Clemenger, Australia with support and collaboration from Stratum Films of Mumbai. In Asia Pacific, 62% of all card purchases at the point of sale being made using VISA cards. There are currently 238 million VISA-branded cards in the region. In 2004, US$475 billion was spent at point of sale or withdrawn from ATMs in Asia Pacific using VISA cards.

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Wincor Nixdorf Hires Software Sales Exec

Texas-based Wincor Nixdorf has landed John Pillmann, formerly with e-Classic Systems and Gasper, as Software Solutions Sales Director for Wincor Nixdorf Banking Solutions. Pillmann brings a track record of more than 20 years of professional sales experience in the financial self-service industry. Prior to e-ClassicSystems, Pillmann worked for NCR Corporation and its subsidiary Gasper Corporation, where he served in numerous executive sales roles for the U.S. and Asia Pacific regions. Wincor Nixdorf is a global supplier of IT solutions to banks and retailers.

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Tonnesen to Become CEO of Triad Guaranty

Mark Tonnesen, formerly a top executive at Royal Bank of Canada and Banc One, has been named President and CEO of NC-based Triad Guaranty, a nationwide mortgage insurer. Mr. Tonnesen comes to Triad with over 20 years of senior management experience in the financial services and banking industry. Tonnesen is a graduate of the University of Pittsburgh where he received an MBA in 1974. Triad Guaranty Insurance Corporation, a wholly owned subsidiary of Triad Guaranty Inc., is a nationwide mortgage insurer providing mortgage insurance to residential mortgage lenders.

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Retriever to Promote All VeriFone Products

Houston-based ISO Retriever Payment Systems has selected VeriFone as the preferred provider of payment solutions for its nearly 100,000 merchant sites. Retriever will offer its customers the full line of VeriFone payment solutions, including countertop, wireless and stand-alone solutions that support a variety of payment options and value-added applications for merchant environments. Retriever processes transactions for nearly 100,000 merchant sites serviced by over 600 affiliated sales groups and 400 agent banks. VeriFone Holdings, Inc. provides secure electronic payment technologies, provides expertise, solutions and services.

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Abruzzio Heads to GPN from VeriFone

Tony Abruzzio, former SVP and GM for VeriFone, has been hired by Atlanta-based Global Payments as VP/U.S. Merchant Product Solutions. Abruzzio will be responsible for the oversight and direction of Global Payments’ terminal-based, Certified Application Provider and related merchant product initiatives. While at VeriFone, Abruzzio was credited with the integration of GO Software into their product line. Abruzzio holds an MBA from Auburn University. Global Payments Inc. is a high volume payment processor of electronic transactions.

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RBS Lynk Targets Small Banks for Gift Cards

RBS Lynk is targeting community financial institutions and credit unions for its turn-key, instant-issue, signature-based VISA prepaid card solution. The “GiftVantage VISA Gift Card” is issued by SD-based BankFirst. It can be loaded for up to $500 and offers six card designs. RBS Lynk has signed several community banks including the WI-based Banker’s Bank and TX-based FirstBank Southwest. Atlanta-based Citizens Trust Bank, with $340 million in assets, has recently launched a suite of “GiftVantage” VISA gift cards. (CF Library 8/19/05).

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CardWeb Passes its 10th Online Anniversary

CardWeb.com, Inc. celebrated its tenth year online this past weekend. The firm began tracking the payment card industry on a daily basis in 1986. In September 1995, CardWeb.com was launched in conjunction with the American Bankers Association’s “Bank Card Conference” at the New York City Hilton. When launched, CardWeb.com introduced the first daily news service for the payment card industry, namely, “CardFlash.” Today, “CardFlash” serves more than 35,000 executives in more than 40 countries. The “CardFlash” archives currently contain more than 28,000 news items. Shortly after the launch of “CardFlash” in 1995, CardWeb.com introduced “CardData” and “CardWatch.” “CardData” is a financial surveillance service, and “CardWatch” is a marketing intelligence service. Last year, CardWeb.com launched “CardExecs” and “CardPixes.” “CardExecs” tracks the movers and shakers of the payment industry while “CardPixes” captures the form and function of payment cards worldwide. This year, the Company launched a “Platinum” all inclusive service for larger companies. Besides the fee-based services for executives, CardWeb.com offers an array of free consumer channels, mostly notably, CardTrak.

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MoneyGram Cuts Fees; Intros an Economy Service

As competition continues to ramp up in the money transfer business, Minneapolis-based MoneyGram Payment Systems has cut fees for its standard same-day “eMoney Transfer” service. The payment services firm has also introduced a new online economy service. MoneyGram reduced fees by as much as $10 on its same-day online service. The new economy service generally takes up to three business days for the money to be available for the receiver, but fees run as low as $10 to $25. For this economy option, customers must send the money from their bank accounts; credit cards are not accepted for this service. MoneyGram has 81,000 agent locations around the world.

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COBRANDED CHAMPIONS

Fifteen European cobranded credit card programs have been nominated for
the second “MasterCard Europe CoBrand Champion of the Year Awards.” The
winners, to be announced this week, have been chosen for their
demonstration of excellence and innovation in cobranding with an
emphasis on criteria such as program attributes, innovative marketing
strategies and overall card program results. “Best Program Launch,”
“Best Usage/Expansion,” and “Long-term Achievement” are the three
winning categories. The nominees are the “AKBank – Axess MasterCard”;
“AKBank – Platinum MasterCard”; “Allied Irish Bank – Brown Thomas
MasterCard”; “Barclaycard – SkyCard”; “Citibank – Eurotel MasterCard”;
“Citibank – Megafon MasterCard”; “Garanti Bank – &Club MasterCard”; “JSC
Latvia Savings Bank – Latvian Youth Song and Dance Festival Maestro”;
“Kazkommerts Bank – Go!Card”; “Marks and Spencer – M&S Money”; “MBNA –
Virgin Money”; “OP-Kotipankki – Bilia Oy MasterCard”; “Piraeus bank –
Champions MasterCard”; “SPRON – EKort MasterCard”; and “Statoil –
MasterCard.” The winners will be announced at the “6th MasterCard Europe
Affinity and CoBranding Conference,” September 15 and 16 in Budapest,
Hungary.

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