American Express has released a new “Global Business Traveler Survey” of more than 1000 business travelers which shows that 86 percent of business travelers expect to see an increase in business trips over the next year. The survey also found that while a majority of business travelers are comfortable with their personal safety and security while traveling, they valued security assurances such as online visa/passport support and travelers insurance. American Express Travel Related Services Company, Inc. recorded $18 billion in worldwide travel sales in 2004.Details
Indian Airlines and Citibank have teamed to offer an equated monthly installment program. Consumers can make payments in ten interest free “EMIs.” The EMI tickets can only be purchased through Indian Airlines offices in Bangalore, Chennai, Delhi, Hyderabad, Kolkata and Mumbai. The deferred payment option is available for any Indian Airlines or Alliance Air Domestic/International economy class service on a rupee tariff.Details
Toyota’s Lexus Financial Services is launching its first-ever Lexus credit card in June. The “Lexus Pursuits VISA” will award cardholders 1.5 points for every $1 of net purchases and 5 points for every $1 of net purchases at a Lexus dealership. The awards can be redeemed for a maximum of a 10% discount on a new Lexus and can also be used toward parts, service and boutique items at a Lexus dealership. Cardholders may also choose to opt for the “Lexus Pursuits Travel Program” and redeem points for airline travel. Executives say the new card is aimed at rewarding existing Lexus customers and bringing new customers into the Lexus family. Toyota launched the Lexus brand in 1989.Details
American Express Business Travel’s new Global Business Traveler Survey reveals that business travelers have a wide range of preferences and perspectives on topics ranging from the value of rewards programs to the components that comprise an ideal business trip. The majority of survey participants take advantage of reward programs
when traveling for business. When it comes to the types of programs they
utilize, 63% participate in frequent flyer programs with
airlines, with a high of 83% in the U.S. and 80% in
Canada. France has the lowest rate of participation in frequent flyer
programs, at 44%. The most preferred types of rewards are airline
tickets (67%), followed by hotel stay (52%) and car rental (36%).
The findings came from a survey of more than 1000 business travelers in ten countries around the world.
California-based CO-OP Network has promoted Kathy Herziger to VP/Product Development; Carol Kosaka to VP/Systems and Support; and Connie Trudgeon to VP/Operations. CO-OP Network is wholly-owned by its credit union shareholders a With more than 1,790 credit union members, 19,500 surcharge-free ATMs, 80 million-plus monthly transactions and 21 million cardholders.Details
Marks and Spencer Money has rolled-out a new black credit card. The “&MORE Black MasterCard” replaces M&S Money’s existing “&MORE” card launched in September 2003. The “Marks & Spencer Money &more Credit Card” offers 1 point per GBP1 spent in Marks & Spencer UK stores, catalogue and Internet. The card also awards 1 point per GBP2 spent outside Marks & Spencer. The card offers points and a variable rate of 15.9%. The card also offers a 0% intro interest on purchases for nine months as well as a 0% APR on balance transfers.Details
FL-based PSCU Financial Services reports that its cardholder loyalty program has topped one million cardholders. The “CURewards” loyalty program is offered as part of the companyÃ¢Âs “CreditAbility” and “DebitAdvantage” processing platforms. Credit union card programs with “CURewards” provide credit and debit cardholders the opportunity to earn points which can be redeemed for more than 500 items of brand name merchandise, as well as travel options that include cruises and weekend getaways as well as hotel and car rentals. As part of the “CURewards” program, PSCU has also funded a sweepstakes promotion. PSCU is owned by more than 500 member credit unions nationwide and represents more than 8 million cardholder accounts.Details
Sydney-based Keycorp and Thales have signed a distribution agreement. The announcement follows the signing in January of a MOU
in which the companies agreed to cooperate in the development, manufacture and sale of highly secure payment systems. The distribution agreement defines the terms and conditions under which Thales will supply its products exclusively to Keycorp for distribution and installation in its target markets, mainly in Australia, New Zealand, Canada and parts of Asia. By adding the Thales “Artema” payment terminals to its product range, Keycorp can now offer a broader solutions portfolio to its customers.
ChevronTexaco’s Credit Card Enterprises is reducing processing fees for retailers and marketers on credit and debit card purchases made between June 1st and August 31st. All charges on electronic third party credit and debit cards, including VISA, Mastercard, American Express, Discover, Diners Club, WEX and Voyager, made at Chevron or Texaco service stations will receive a 10 basis points reduction in processing fees. There are no processing fees charged on electronic Chevron and Texaco card transactions. Manually processed transactions are not eligible for the fee reduction. ChevronTexaco will also launch the “Triple Your Awards” program this summer, paying stations a $15 award for consumer credit card approvals during the months of July and August.Details
MasterCard’s “OneSMART PayPass” was recognized as the most innovative payments product launched in 2004. The award was bestowed by the European Payments Consulting Association and European Card Review Innovation Awards. “OneSMART PayPass” combines both contact and contactless interfaces on one chip to provide a robust and feature-rich product. “OneSMART PayPass” is centered around MasterCard “M/Chip 4,” a highly flexible EMV-based smart card application for credit and debit cards. This is the first year that the European Payments Consulting
Association and European Card Review have awarded the EPCA/ECR “Excellence in Payments Innovation Award.”
Digital Insight reported that revenues for the first quarter increased 13% to $51.7 million. Revenues for the first quarter ended March 31, 2005 increased 13% to $51.7 million from $45.7 million for the quarter ended March 31, 2004. The company remains debt-free and its Board of Directors has approved a new $25 million stock repurchase program. Digital Insight enables banks and credit unions to become the trusted transaction hub for their retail and commercial customers. Digital Insight offers consumer and business Internet banking.Details
Rahaxi Processing has launched a new Internet Payment Gateway using software from ACI Worldwide. The new IPG will now enable Rahaxi to dilute its customer concentration in the Finnish market by processing for new merchants based in the rest of Europe, the USA and Asia. This software has the potential to add to Rahaxi’s existing Finnish domestic market growth, and will help to ensure that FreeStar is a fully fledged international payments processor. Rahaxi Processing is a wholly owned subsidiary of Freestar.Details