Hong Kong-based Worldwide Global Express has contracted with Global Travel Exchange, a provider of direct access travel distribution technology, for the marketing of Global Travel Exchange’s branded cheque card in North America, Asia and Europe. Worldwide Global Express will use the first cards as test and presentation cards as it launches its marketing and distribution for the Global Cheque Card, beginning in 7 countries in North America, Asia and Europe, with a particular focus in the Asian market. Global Travel Exchange will receive a $30,000 per country licensing fee from Worldwide Global Express, in addition to initiation fees, monthly management fees, ATM usage fees, and loading fees.Details
Atlanta-based Citizens Trust Bank has launched a suite of “GiftVantage” VISA gift cards. GiftVantage cards allow customers to purchase a personalized gift, available in any denomination up to $500 and can be redeemed for goods or services wherever Visa debit cards are accepted. Citizens Trust Bank, with assets of more than $340 million has nine offices located in the southern U.S.Details
Omaha-based Strategic Management Partners is now accepting new subscribers for its “Pricing Benchmark Study” which compares the processing pricing (line item and total cost per transaction) from all the major third-party processing companies by portfolio size. Participants contribute pricing and volume data on key front-end authorization and back-end settlement line items. The data is then consolidated and sorted into volume bands for reporting. Strategic Management Partners, LLC is comprised of senior payments industry executives that provide clients with advice and additional management resources.Details
Notorious hacker Kevin Mitnick will be the keynote speaker at Shift4’s “Transaction Security Summit” scheduled for September 28 & 29 in Las Vegas. With more than fifteen years of experience in exploring computer security, Mitnick is a largely self-taught expert in exposing the vulnerabilities of complex operating systems and telecommunications devices. Mitnick gained unauthorized access to computer systems at some of the largest corporations in the world. Shift4 develops financial transaction processing software and provides web-based, real-time enterprise payment solutions for leaders in the hospitality, retail, foodservices and e-commerce markets.Details
California-based My Payment Network has launched “SchoolPay,” a new service enabling parents to make electronic payments to their child’s school via check, credit card or PayPal. SchoolPay’s online administrator interface allows school personnel to run reports, create payment items and actively manage all the payments a school receives. A percentage of the revenue earned from parent subscribers is donated back to the school. My Payment Network delivers online payment acceptance to schools, businesses and associations.Details
Pinnacle Entertainment has deployed both the “MICROS 9700” hospitality management system and the “MICROS iCare” gift card solution at a new gaming property in Louisiana. Pinnacle Entertainment owns and operates casinos. MICROS Systems, Inc. provides enterprise applications for the hospitality and retail industries, property management systems, central reservation and customer information solutions worldwide.Details
Statement of Federal Trade Commission Chairman Deborah Platt Majoras on the 100 Millionth Number on the National Do Not Call Registry
I am pleased to report that, as of this week, the National Do Not Call Registry has topped 100 million phone numbers. This is a significant milestone for the Registry, which opened for business just over two years ago.
The Registry is an efficient and effective tool for consumers and businesses. While millions of citizens have chosen to limit the number of unwanted telemarketing calls they receive, thousands of businesses are able to target their calls to people who want to receive them. Industry compliance continues to be high, and registration remains free and easy.
The Registry speaks volumes about the success of government programs driven by consumer choice, and Americans’ preference for uninterrupted dinner-time conversation.
[Click Here For More Information In PDF Format.]
Prague-based MUZO has executed an agreement with Diners Club to provide card personalization services in the Czech Republic. Currently, MUZO provides card transaction processing and authorizing services for Diners Club in the country. According to Diners Club, they have issued cards in the Czech Republic since 1998 with acceptance today at 37,000 locations. MUZO is one of the Czech Republic’s largest indirect processors, and provides card issuing and processing services throughout Central and Eastern Europe. Global Payments is a majority owner of MUZO.Details
The combined value of transactions made on charge, credit and
debit and private label cards was up over 11% over 2003 levels. In 2004,
the value of transactions made on plastic cards accounted for 60% of the
value of total household expenditure, up from 44% in 2000 and just 26%
per cent in 1995. According to Datamonitor, the average standard
purchase APR in the UK credit card market declined from 18.6% to 16%
over the period June 1999 to March 2005. This is a significant change,
and is mirrored by the rapid fall in introductory rate APRs. Over what
is close to a five-year period, the average introductory balance
transfer rate on those products offering such a promotion fell from
12.2% in June 1999 to 3.2% in March 2005. Introductory purchase rates
have also fallen over the same period, from 9.7% to 0.3 %.
On Track Innovations posted revenues for the first six months of
$14.5 million, a 45% jump over the same period of last year. Revenues
for the second were up to $7.8 million from $4.6 million in 2Q/04. The
increase in revenues represents the rapid advancements in the
contactless market around the world and in particular, the contactless
payments market in the U.S. Net loss for the period decreased by 21% to
$4.7 million. OTI designs, develops and markets secure contactless
microprocessor-based smart card technology to address the needs of a
wide variety of markets. For complete details on OTI’s second quarter
performance, visit CardData (www.carddata.com).
A new survey has found that about half of college students max out their credit cards some or most of the time. The research also revealed that nearly six out of ten students never pay balances in full or pay in full less than half of the time. The OppenheimerFunds study, conducted by Smith College, determined that the average credit card debt among the respondents was $2,400 with 14% owing more than $5,000. Female students are more likely to have credit card debt (67% female vs. 59% male) and a larger credit card debt burden. Nearly 11% of women surveyed report credit card debt of $3,001-$5,000 compared to 7% of men; the same percentages hold true for debt of $5,001-$10,000. Sixty-eight percent of women use more than one credit card compared to 59% of men and college women are 50% more likely to carry five or more cards than men. The survey also found that most college students use their credit cards to pay for day-to-day living expenses instead of long-term needs.Details