Cardiff to Acquire Legacy Card Company

Colorado-based Cardiff International is acquiring Nevada-based Legacy Card Company, in exchange for 20,075,000 shares of Cardiff common stock. Legacy has developed the Commitment 529 Tuition Card, a tax-free educational savings reward Mastercard. Participating retailers will contribute from 1% to 10% spent to the cardholder’s child’s “529” tax-free educational fund account, supplemented by a 0.5% to 1.0% contribution from the card issuer.

Details

Govolution & ORCC Team for PIN-Less Debit

Virginia-based Govolution has teamed with Online Resources to offer PIN-less debit to its client government and corporate consumer billing organizations. The new cost-effective and efficient payment option will make it possible for Govolution clients to accept consumer payments that will be processed in real-time. Govolution is a provider of enterprise e-payment solutions. Online Resources powers Internet financial services for 700 firms, three million consumer end-users nationwide and processes over $10 billion in payments annually.

Details

New Biometric Card is Activated at the POS

Scanecotech AS has come up with a biometric card that has an embedded fingerprint scanner and that requires two fingerprints to activate the card at the point of sale. With the new “Scancotech” card the recognition of the fingerprint is performed on the card itself, not by an external database. The recognition of two fingers is to ensure that the user can use the card, even if an injury is sustained to one finger. If robbed, the card can be locked in active mode and the robber will not know which finger was selected for activation. Depending on issuer specifications, more than one set of card data may be contained on the card. Subsequent to activation, the user selects which card data he wants to transmit, thus eliminating the need for carrying more than one card. You can for example have your credit card, company access, etc. on just the one card. The battery life allows a minimum of 2,000 activations or about two years of use for most consumers.

Details

TPI’s SmartPayments Server Proximity Ready

Washington-based TPI Software’s “SmartPayments Server” has been re-certified with Vital Processing services to support new 2005 industry compliance requirements including contactless payments as well as a new lease line communication interface. TPI Software LLC is a provider of innovative payment technologies for processing credit card, debit/ATM card, EBT, gift card, electronic check services and electronic capture and retrieval services.

Details

LAN Airline Alliance Offers a Cash Option

The LAN Airline Alliance is now offering a cash payment option. In partnership with Western Union Financial Services, participating carrier’s can now accept cash via their toll-free reservation systems.
More than 46,000 Western Union Agent locations throughout the U.S. and Latin America can process tickets purchased after making a LAN Alliance carrier reservation by phone. After the flight is booked, consumers are given a confirmation number to take to a nearby Western Union Agent location. Tickets must be paid for in full, within 24 hours, to guarantee the reservation. The LAN Airline Alliance includes LAN
Airlines, LAN PERU and LAN ECUADOR.

Details

Ussery to Retire from his TSYS Exec Post

TSYS announced the planned retirement of Richard Ussery as an executive team member, effective June 30th, however he will continue to serve as a director and chairman of the board. Additionally, under a consulting agreement, Ussery will be responsible for providing advice, counsel and expertise. Prior to Ussery’s current executive position as chairman of the board, he was appointed as the first CEO and president of Total System Services, Inc., now TSYS, when the company became public in 1983. TSYS is one of the world’s largest companies for outsourced payment services.

Details

Fair Isaac Names a Products Head

Fair Isaac has hired Michael Campbell, formerly of SAP, to handle the newly created position of VP/COO, Products. Steve Braun continues to lead Services, organized by industry segment. Prior to joining Fair Issac, Campbell spent three years with SAP America, Inc. where he held multiple senior leadership roles and ran $1.5 billion in combined revenues. Campbell joined SAP in 1999, when Campbell Software, Inc. merged with SAP. Fair Isaac Corporation provides predictive modeling, decision analysis, intelligence management, decision management systems and consulting services worldwide.

Details

PayPal Transaction Fees Rise 46% in Q1

eBay reported that gross payment volume for its PayPal business increased 44% year-on-year during the first quarter, and 11% sequentially. The payment service also signed up 7.8 million net new accounts and the number of active accounts posted its highest level to-date. During the first quarter, PayPal handled $6.23 billion of gross payment volume, compared to $5.61 billion in the prior quarter, and $4.32 billion for 1Q/04. PayPal produced $227.1 million in transaction fees for 1Q/05, a 46% jump over the year-ago quarter. At the end of the first quarter, PayPal had 71.6 million accounts, compared to 63.8 million in 4Q/04, and compared to 45.6 million one-year ago. During the first quarter, PayPal handled 110.4 million payments, an 11% increase over the prior quarter, and up 39% from 1Q/04. PayPal captured 58% of eBay’s total $10.6 billion in total sales volume during the quarter. PayPal’s 1Q/05 transaction revenue rate was 3.64%, compared to 3.60% one-year ago. The processing expense rate for the first quarter was 1.15%, compared to 1.25% for 1Q/04. PayPal’s transaction loss rate came in at 30 basis points, down 3 basis points from one-year ago. For complete details on eBay/PayPal’s first quarter performance, visit CardData ([www.carddata.com][1])

PAYPAL HISTORICAL
$VOLUME #ACCOUNTS
1Q/04 $4.3 billion 45.6 million
2Q/04 $4.3 billion 50.4 million
3Q/04 $4.6 billion 56.7 million
4Q/04 $5.6 billion 63.8 million
1Q/05 $6.2 billion 71.6 million
SOURCE: CardData (www.carddata.com)

[1]: http://www.carddata.com

Details

TransFirst Teams with TenderCard for STV

Dallas-based TransFirst has teamed with TenderCard, a provider of closed loop, stored-value/gift and loyalty card solutions to offer STV cards to small and mid-size merchants. This new product offering will allow merchants to strengthen customer loyalty, increase traffic and enable small- to mid-size merchants to compete with larger retailers. TenderCard hosts gift cards and rewards programs for major merchants and chains, delivered via its proprietary Web-based IMATTS software platform. TransFirst currently processes approximately $20 billion in annual sales volume for more than 160,000 merchants and more than 760 financial institutions.

Details

First TV Interactive MasterCard Launched

Barclaycard and BSkyB have launched MasterCard’s first interactive TV credit card. The new “SkyCard MasterCard” has been fully integrated with the Sky box to enable U.K. users to shop through the box and receive rewards. The “SkyCard” is also the first to reposition the MasterCard branding and hologram, making the SkyCard unique in being the first fully portrait card design, according to this week’s issue of CardFlash International. Under the “SkyPoints” feature cardholders are rewarded with up to 3% of their spending on the card, with a minimum of 1%. The points can be redeemed for rewards such as the monthly Sky digital subscription fee, “Sky Box Office” pay-per-view movies and events, and “PremPlus” football games. Barclaycard and BSkyB are also offering a series of prize drawings for new cardholders including a 12 day expedition to Egypt accompanied by a National Geographic expert worth GBP 7,500. The new credit card has a 0% interest rate on purchases and balance transfers until January 2006 and a typical rate of 16.9% APR variable. The launch is being supported by a comprehensive marketing campaign involving a 3.5 million direct mail campaign, magazine and television advertising, including Sky’s active and text channels. BSkyB has more than seven million direct-to-home customers across the UK.

Details

RBS Lynk Inks SunStops for Processing

Southwest Georgia Oil Company has signed a multi-year credit, debit and check transaction processing agreement with Atlanta-based RBS Lynk that also includes its fuel card program for commercial accounts. Southwest Georgia Oil Company is a multi-state petroleum marketer operating under the trade name of SunStops in Georgia, Florida, Alabama and Mississippi. RBS Lynk is a single-source provider of electronic payment processing services.

Details