Connecticut-based TransAct Technologies has filed suit against California-based FutureLogic for allegedly disseminating false and misleading statements. The six count lawsuit charges FutureLogic with disseminating false and misleading statements to impugn the business reputation of TransAct with the intent of damaging its business, defamation, tortious interference with contractual relations, tortious interference with business expectancy and violation of the Connecticut Unfair Trade Practices Act, and seeks an award of compensatory and punitive damages, attorneys’ fees and costs. TransAct Technologies Incorporated designs, develops, manufactures and markets transaction-based printers under the ithaca name worldwide.Details
Loyalty program specialist Vesdia Corporation and Infone have teamed to offer personal assistant services and shop-over-the-phone support services that initially will aid Vesdia’s program members in locating participating merchants. Vesdia manages more than a dozen rewards programs for some of the nation’s leading financial institutions. Metro One Telecommunications, Inc. is the developer and provider of Enhanced Directory Assistance and other enhanced telecom services and handled approximately 306 million requests for information in 2004.Details
Morgan Stanley’s board of directors said that suggestions for management changes or a corporate re-organization beyond the proposed spin off of its Discover Card business would not be in the best interest of shareholders. The board approved some additional changes to include: “de-staggering” the three classes of its directors, creating a “lead director” position and naming two additional outside directors to the board as well as various amendments to bylaws. Morgan Stanley is a global financial services firm with more than 600 offices in 28 countries.Details
A new report has found that average expenditures managed via purchasing card programs has grown from $3.1 million to $6.6 million over the past five years. The study also found that annual transactions now average 77,244 per program, representing annual growth of 15% during the same period. “The Purchasing Card Benchmark Report” by AberdeenGroup, says the growth is driven by the diligence of program directors who are deploying card payments in an increasing number of spend categories, with assistance from card issuers, to improve reporting and supplier acceptance. However, the research group also found that many program directors believe their programs have reached a plateau. AberdeenGroup recommends that purchasing card programs challenge program scope and expand the programs by addressing master agreement and contract pricing requirements, examining specific purchase order types that lend themselves to payment via purchasing cards, extending the program to service categories, and proactively exchange electronic payment remittance information on suppliers providing non-traditional, large project or recurring services requirements.Details
Diebold has acquired London-based TASC Security. TASC specializes in customizable and scalable electronic security solutions that include alarms, access control, closed-circuit television and video surveillance systems. The company also provides system design, integration, installation and service. TASC is the fourth security systems integration company Diebold has acquired during the past year.Details
eCOST.com, an online discount retailer, has launched a credit card with HSBC Retail Services. The new card will offer special financing promotions throughout the year. The initial promotion is no payment for 6 months without interest charges. eCOST.com offers over 100,000 different products from companies such as Apple, Canon, Sony, HP, Nikon, Onkyo and Toshiba.Details
Starwood Preferred Guest was once again voted “Program of the Year” in both America and internationally during the “17th Annual Freddie Awards” The Freddie Awards recognize the best loyalty programs in the world and the awards are voted on by frequent travelers. Starwood Hotels & Resorts Worldwide, Inc. is a global hotel and leisure company with approximately 750 properties in more than 80 countries.Details
Florida-based prepaid card specialist, Morgan Beaumont, has hired Scott Matthews, former founder and CEO of Platinum Financial Group, as VP/Business Development. At Platinum, he launched the “Usher Success” MasterCard card. Matthews also founded International Gateway Exchange, a technology company that developed and marketed the “UTA Cash Card”. He received his bachelor’s degree in business management and marketing from Florida State University. Morgan Beaumont, Inc. is a provider of stored value and debit card solutions.Details
Illinois-based Perfect Plastic Printing has received CQM approval from MasterCard for the manufacture of “PayPass” contactless cards. The PayPass feature can be added to any MasterCard payment account to enable payments with a simple tap. The cards also have the traditional magnetic stripe for swiping in conventional readers.Details
ActivCard has signed an agreement with MasterCard to deliver
the first “Chip Authentication Program” approved authentication
server that is capable of operating over multiple channels. MasterCard’s member banks will use the ActivCard “4TRESS” authentication server to authenticate users and transactions in non face-to-face environments, such as e-commerce, online and phone banking, MOTO and m-commerce.
When using MasterCard CAP for two-factor authentication, a cardholder
simply inserts the card, which may be a standard debit or credit card,
into a small hand-held CAP compliant reader, such as the “ActivReader Solo.” The user enters the PIN and the card generates a one-time-password, which is displayed by the reader. The card can also be used to verify or sign a transaction. The one-time-password or signature is then submitted to the bank through the Web site or over the phone, where it is validated by the authentication server in order to verify the identity of the cardholder and specific transaction parameters.
Lloyds TSB has teamed with American Express to issue its own range of credit cards utilizing the American Express Network in the UK. Lloyds will create the products, issue the cards and manage the customer accounts, billing and credit management. The first in this new line of credit cards will launch later this quarter. Lloyds will introduce a new rewards program that enables cardholders to earn points that can be redeemed for vouchers at some of the UK’s leading retailers. The new card will also provide exclusive access to unique benefits offered by American Express, including special merchant offers and global customer support. Lloyds TSB has 16 million customers, over 2,000 branches and, more than 6 million credit card customers.Details