CashTech.Card STV MasterCard Launched

Los Angeles-based Heuristic Technologies has launched the “CashTech.Card” prepaid MasterCard, to be issued by First Federal Savings Bank of the Midwest. In healthcare applications, the CashTech.Cards can be issued to employees and periodically loaded with funds by an employer or benefits administrator as a method of paying medical and other healthcare benefits or expenses to the employee. The card may also prove to be a financial services boon to the tens of millions of individuals who cannot qualify for credit cards such as those with poor credit or without bank accounts. Cash Technologies, Inc. develops and markets innovative data processing systems, including the BONUS(TM) and MFS(TM) financial services systems, EMMA(TM) transaction processing software and PrISM(TM) security system.

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IDT’s Q3 Calling Card Revenues Climb 12%

NJ-based IDT Corporation reported that its worldwide calling card revenues for the third calendar quarter were $326.3 million, an 11.7% increase from the year ago quarter. The revenue increase was driven primarily by strong gains in the USA. The company also launched several new, aggressively priced cards this year. The Company noted that margins were narrower in Europe. For complete details on IDT’s latest quarter please visit CardData ([www.carddata.com][1]).

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

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VISA Europe Demos Contactless EMV

VISA Europe has demonstrated the world’s first viable EMV compliant solution to enable true “tap and go” contactless payments for low-value transactions. The solution used a standard “VISA Smart Debit and Credit” application, and, an Ingenico POS terminal connected to a Vivotech contactless reader. A similar demonstration was also shown using the Nokia “3220” mobile phone equipped with a tailored Nokia “Near Field Communications” shell cover enabling contactless payments. To enable instant payment, the cardholder is not prompted for their PIN, and instead security is enabled by transaction counters that force the cardholder to perform an online authorized “Chip and PIN” transaction should they reach the pre-authorized offline limit specified by their bank, thereby preventing indefinite usage of the card if lost or stolen. Higher value transactions would continue to be performed with full “Chip and PIN” authentication.

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Lynk Offers Wireless CDMA for Triton ATMs

Atlanta-based Lynk Systems is now offering CDMA wireless technology for Triton ATMs. Lynk’s CDMA (Code Division Multiple Access) technology will provide a faster, more secure option for routing wireless ATM transactions. Lynk, headquartered in Atlanta, GA, is a single-source, full-service provider of electronic payment processing services (including credit, debit, EBT, gift cards, customer loyalty cards, checks and more). Triton is the largest provider of off-premise ATMs and ATM management software in North America and has more than 117,000 installations in over 17 countries worldwide.

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MasterCard Unveils an Instructional PayPass Symbol

The sign of things to come has been developed by MasterCard. An instructional symbol for “PayPass” contactless transactions is being offered to the payments industry to help consumers understand the new way to pay. MasterCard says recent research revealed that consumers consistently requested an instructional symbol that would help them quickly understand both how to properly hold the card or device and where to tap it on the payment terminal. The symbol clearly depicts bringing the card or device into contact with the reader at the spot where the radio frequency signal is strongest. The read of the card or device begins at about four centimeters above the reader. MasterCard has been at the forefront of contactless payments in USA after successfully conducting several pilots of “PayPass” in Orlando and Dallas. In August, McDonald’s inked a deal to accept MasterCard “PayPass.” Participating McDonald’s restaurants in Dallas and the New York metropolitan area will implement “PayPass” later this year, with additional locations to be added in 2005. McDonald’s will eventually accept “PayPass” nationwide. (CF Library 8-18-04)

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Consumers Will Pay Extra for Biometrics

A new study has found that the majority of U.S. consumers are willing to pay a premium to add fingerprint biometrics to their PCs and cell phones. Most consumers said they would use the technology to replace their PC and Internet passwords, as well as to help transform their cell phones into their personal wallets to conduct m-commerce and wireless banking.The scientific survey of more than 2,000 adults, sponsored by AuthenTec, shows that 63% of consumers would pay extra to add fingerprint biometrics to their PC and notebook computers, while 71% would pay more for this feature in their cellular phones. It is estimated that more than 4 million biometric cell phones, PCs, laptops and peripherals already are in use.

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Sprint Co-Brands with Chase to Launch a VISA

Sprint and Chase have teamed to launch a co-branded rewards cards that offers a 1%+ cash rebate. The new “Sprint Rewards VISA” rewards cardholders with two points for every dollar spent on Sprint purchases and one point for every dollar spent on all other card purchases. After accumulating 2,500 points, cardholders can redeem them for a $25 personal check, a $25 “Sprint Gift Check,” which can be used toward Sprint products and services, or a “$25 Gift Certificate” from select merchants, including gas stations, restaurants and other retailers. The new card offers a six-month 0% APR on purchases and balance transfers. The go-to APR equals the prime rate plus 6.99%, 8.99% or 12.99% depending on the applicant’s credit score.

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TCF ATMs to use TWS Systems’IMAGECENTER

MN-based TCF Bank has selected TWS Systems'”IMAGECENTER” for ATM deposits management. TCF, a Minnesota-based national financial holding company with $12 billion in assets, has 419 banking locations in Minnesota, Illinois, Michigan, Wisconsin, Colorado and Indiana. IMAGECENTER provides the bank with the latest balancing and fraud detection technology on the market. TWS Systems, Inc. is a privately held financial services company that is the first company to offer total deposit automation with image-based ATMs.

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Chex Services and Ditronics Partner

CO-based Chex Services has signed a marketing agreement with NV-based Ditronics Financial Services for credit and debit card cash advance services, multi-function ATMs, check cashing, stored value cards and money remittance services. As part of the agreement, Ditronics will be marketing Chex’s product lines including full financial service booth operations, credit and debit card cash advance including CreditGuard, multi-function ATMs, check cashing including the ChexGuard electronic check conversion and check guarantee, stored value cards and money remittance services. FastFunds Financial Corporation is a holding company operating through its wholly owned subsidiaries, Chex Services, Inc. of Minnetonka, Minnesota, and FastFunds International, Inc. based in London, England.Equitex, Inc. is a holding company operating through its majority-owned, publicly traded subsidiary FastFunds Financial Corporation (OTCBB: FFFC) of Minnetonka, Minnesota, as well as its majority-owned subsidiary Denaris Corporation.

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Carreker Names a New President of Payments

Dallas-based Carreker Corporation has hired Suzette Massie, formerly with Accenture’s Financial Services practice, as President of Global Payments Consulting, effective December 15th. Massie’s joining the company allows Lou Buglioli, who has been providing leadership to the GPC business since June 2004, to assume a new strategic payments sales leadership role, synergizing the offerings of Carreker’s payments consulting and technology businesses and increasing the value provided to clients. Carreker Corporation improves earnings for financial institutions around the world. The Company’s integrated consulting and software solutions are designed to increase clients’ revenues and reduce their expenses, while improving security and increasing the value of their customer relationships.

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Electronic Exchange Systems Names a CIO

Atlanta-based Electronic Exchange Systems has promoted Jim White to the position of Chief Information Officer. During the past four years, Jim has been extremely instrumental in the responsibilities of managing Electronic Exchange Systems corporate residuals and contracts. Electronic Exchange Systems is a national supplier of merchant transaction processing services.

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