Gross dollar volume for purchases on credit card and charge cards during October in Australia dipped sharply from the prior month. Total outstandings for October were up A$500 million compared to September, and up nearly 13% since October 2003. Revolving balances, or balances accruing interest, declined for the second consecutive month to A$19.3 billion during October, and up 10% from one-year ago, according to data released by the Reserve Bank of Australia. During October, Australians charged A$12.3 billion in purchases on credit/charge cards compared to A$11.9 billion one-year ago. At the end of October, consumers owed A$28.2 billion on credit cards versus A$25.0 billion for October 2003. Card credit limits reached A$75.9 billion at the end of October, compared to A$67.4 billion for October 2003. There are 11.3 million credit card and charge card accounts in Australia, compared to 10.6 million one-year ago.Details
CT-based Exante Financial Services has launched a suite of prepaid MasterCard health benefit cards, including a new Health Savings Account debit card. Exante’s health benefit card programs include applications for Flexible Spending Accounts (FSAs) and Health Reimbursement Accounts (HRAs), and also enable verification of health benefit eligibility. The new Health Savings Account (HSA) Prepaid MasterCard(R) Card gives consumers the ability to easily access funds stored in tax-deferred HSAs when paying for eligible medical expenses. Exante Financial Services is focused on simplifying and facilitating financial and administrative transactions for insurers, benefits administrators, consumers and health care professionals. MasterCard International is a leading global payments solutions company that provides a broad variety of innovative services in support of our global members’ credit, deposit access, electronic cash, business-to-business and related payment programs.Details
Oberthur Card Systems has been selected by the one of France’s largest banks, Societe Generale Group, to manufacture and personalize more than half of its worldwide payment card portfolio together with Credit du Nord Group’s card portfolio. The two-year agreement covers France and Societe Generale main branches in Eastern Europe and Africa.Details
Enterprise Technology Alliance, a Pennsylvania technology service company providing core and item processing, imaging, ISP, as well as operating the surcharge free “Liberty ATM Alliance,” has endorsed the Genpass MoneyPass EFT Network. Enterprise Technology Alliance, Inc. (ETA) provides a core processing solution utilizing Kirchman’s Bankway application. ETA also provides item processing and check imaging services, mail services, and an evolving and growing consortium of shared service offerings. Genpass Technologies, which drives ATMs and processes cards in all 50 states, is listed in ATM and Debit Card News (July 25, 2003) as the second largest third party ATM driver in the U.S. and in The EFT Data Book (2003 edition) as one of the largest transaction processors in the U.S., driving approximately 31,000 ATMs located throughout the country.Details
American Express Business Travel has launched a redesigned Website providing targeted offerings to companies of all sizes and resources for travel managers and travelers. The site highlights American Express Business Travel’s targeted offerings to companies of all sizes whether they are small, mid-size or large. The site also provides resources for Travel Managers and Travelers. American Express Travel Related Services, Inc. operates one of the world’s largest travel agency networks, recording $16 billion in worldwide travel sales in 2003.Details
Electronic Clearing House reported record revenue for the quarter ending September 30th of $12.3 million, an increase of 12.0% over the prior year quarter. The increase is primarily attributable to 7.0% growth in the bankcard and transaction processing revenue and 29.4% growth in check services revenues. Bankcard processing and transaction revenue increased 7.0% to $9.1 million in the quarter from $8.5 million in the prior year quarter. The Company reported net income of $403,000 in the quarter, versus $518,000, in the year ago quarter. For complete details on ECHO’s latest performance visit CardData ([www.carddata.com]).
Electronic Clearing House has received confirmation from First National Merchant Solutions that its processing contract under the “Visa POS Check” program has been renewed through December 2005. First National provides check processing for national as well as regional retail merchants and, most notably, First National processes for the largest retailer currently on the Visa POS Check service. First National Merchant Solutions is a customer service driven payment processor with over 50 years of experience in payment processing solutions. Electronic Clearing House, Inc. provides a complete solution to the payment processing needs of merchants, banks and collection agencies.Details
A new survey has found that 64% of consumers admit to secretly giving unwanted gifts to others. The survey commissioned by eBay also found that 20% of survey respondents indicated they have sold unwanted gifts over the Internet. eBay says the online reselling trend represents a new twist on regifting that allows people to turn tepid gifts into cold cash — enabling them to get what they really wanted for the holidays or to pay down holiday credit card bills.Details
Japan’s JCB has joined EMVCo, the EMV chip card standards body jointly owned by MasterCard and VISA, as a 33% owner-member. JCB has been deploying an EMV-compliant infrastructure since 2001, with half of its 51 million branded cards predicted to be EMV compliant by April 2005. All three members now have equal interests in the organization and EMVCo’s management structure has been altered to reflect this. JCB will appoint representatives to the EMVCo Board of Managers and the Executive Committee as well as its working groups. JCB cards are now issued in 18 countries and territories, with 51.6 million card members.Details
JCB has joined EMVCo, the EMV chip card standards body jointly
owned by MasterCard and VISA, as a 33% owner-member. JCB has been deploying an EMV-compliant infrastructure since 2001, with half of its 51 million branded cards predicted to be EMV compliant by April 2005.
All three members now have equal interests in the organization and EMVCo’s management structure has been altered to reflect this. JCB will appoint representatives to the EMVCo Board of Managers and the Executive Committee as well as its working groups. JCB cards are now issued in 18 countries and territories, with 51.6 million card members.
UT-based Zions Bank has been ranked #1 for its online bill payment system, according to an Internet study by Javelin Strategy & Research. While most banks offer Internet services, Zions Bank’s diverse online bill payment and presentment features set the bank apart from competitors, according to Scott Anderson, Zions Bank president and CEO. Zions Bank’s Online Bill Pay customers can take advantage of e-mail notifications regarding their account activity, schedule regular repeating payments and reminders, view payment activity, receive e-bills, and manage their list of payees with the ease and click of a mouse. In addition, customers can view electronic check images, see recent credit card activity, transfer funds, and open an online safe deposit box.Details