Shell will now accept FleetCor’s “Fuelman Fleet Card”. As a result of the agreement, Fuelman cards now will be accepted at Shell’s network of 13,000 gasoline stations, offering convenience to more than 1 million active Fuelman cardholders. The Fuelman card authorizes, controls and tracks fleet fueling and maintenance purchases at thousands of locations in the United States. Atlanta-based FleetCor is a provider of fleet card processing solutions serving over 130,000 fleets. Shell Oil Products US is a subsidiary of Shell Oil Company, an affiliate of the Royal Dutch/Shell Group of Companies.Details
The Trade Bank of Iraq has signed a deal with UK-based Card Tech Limited for card issuing and acquiring processing services. TBI is planning to issue a range of VISA cards. The suite of products will include a “VISA Classic” card targeted for travel and entertainment usage and a “VISA Electron” salary card. Following the launch of its card portfolio, the bank will deploy 10 ATMs in Baghdad. Trade Bank of Iraq became a principal member of VISA in 2004. More than 170 banks from 70 countries use CTL solutions.Details
Tony Catalfano, former president and COO of Fiserv EFT, has been named president of Fiserv CBS Worldwide. In his new role, Catalfano will lead one of Fiserv’s primary business lines with more than 280 in-house and outsourced clients in 42 countries. CBS Worldwide is a financial information systems provider serving the global marketplace. Fiserv, Inc. provides information management systems and services to more than 16,000 clients worldwide and reported $3.4 billion in processing and services revenues for 2004.Details
LEGIC Identsystems has supplied their technology to enable license
partner VMC to install a cashless payment system for Gedas UK. Around 350 employees at the Gedas UK operation in Milton Keynes will use the payment system. The LEGIC contactless cashless payment system will be
used to make food, snack and refreshment purchases via individual smart
cards. Employees have an electronic purse to add a cash value to their
cards which can then be used at tills in the staff restaurant and at
vending machines, while a data management system tracks all
transactions. VMC designs and manufactures hardware and
software solutions for all the major vending and catering operators as
well as the end user.
U.S. Bank has launched a program to enable a partnering business to market itself and extend rewards to its business customers. Patterson Dental has become the first partner in the program with the launch of a “VISA Business” card this month. The “Patterson Advantage VISA Business Card” offers reward points for all purchases and extra points for Patterson Dental product purchases. Under the program, Patterson receives compensation for each card issued and on purchase volume. The new card will be marketed to 130,000 dental professionals. Patterson Dental has nearly 1,300 sales reps serving the USA and Canada.Details
GZS Gesellschaft fur Zahlungssysteme has taken new premium
credit cards fitted with EMV chips into production for clients of
Deutsche Bank. The project is part of a joint venture with MasterCard
and chip vendor Giesecke & Devrient. The cards were introduced after a
lead time of just three months. GZS was the first processor of
MasterCard credit cards with “Seccos” chips in late 2003.
New York-based druggist Duane Reade will offer the “American Express Gift Card” throughout the New York Metropolitan Area. The cards are available in $25, $50, and $100 denominations at all 249 Duane Reade stores. An American Express study indicated that 29% of consumers surveyed said they would make a separate trip into a store to purchase an American Express Gift Card. Duane Reade is the largest drug store chain in the metropolitan New York City area. American Express Company is a diversified worldwide travel,financial and network services company founded in 1850.Details
Metavante has inked a definitive merger agreement to acquire MA-based Med-i-Bank. The $145 million deal includes approximately $138 million funded with Marshall & Ilsley stock. The 70-person company will continue to operate under the name of MBI, and will become a subsidiary of Metavante. MBI, founded in 1995, is a provider of electronic payment services for employee benefit and consumer-directed health care accounts. The Company also issues an employee benefits debit card. MBI’s solutions are currently used by approximately 200 third-party administrators and health plans that service over 15,500 employers and approximately 1.3 million employee accounts. The merger is expected to close in the third quarter.Details
First Data Corp. announced that Bill Hernandez has joined as executive vice president, Strategic Financial Services in the Card Issuing Services Group. Hernandez joins First Data from MasterCard International where he was senior vice president for North America Major Accounts. First Data Corp. is a provider of electronic commerce and payment services with $10 billion in revenue for 2004 and the processor of more than 36 billion transactions globally.Details
NJ-based Asta Funding reported that net income for the first quarter increased 34% to $7.3 million. The charge-off purchaser posted revenues for the first three months of $16.7 million, a 30% increase compared to 1Q/04. During the quarter, Asta purchased portfolios with a face value of $800 million at a cost of approximately $36.8 million. The Company also expanded its credit facility to $80 million from $60 million. Asta specializes in the purchase, management and liquidation of performing and non-performing consumer receivables. For complete details on Asta Funding’s first quarter performance, visit CardData ([www.carddata.com]).
The first MBNA-issued American Express card to be offered by a brokerage firm is forthcoming. The new “LPL Rewards American Express” offers complimentary enrollment in MBNA “WorldPoints” rewards program. Cardholders earn one point for each purchase and double points for travel and dining for the rest of this year. San Diego- and Boston-based Linsco/Private Ledger Financial Advisors has 1,000 staff members and offers non-proprietary investment products and wealth management services through more than 5,900 financial advisors nationwide. MBNA began issuing AmEx cards last year. AmEx has now established close to 90 card-issuing partnership arrangements in 100 countries. (CF Library 11/5/04)Details