ING to use VASCO’s Digipass GO3

VASCO Data Security International announced that ING Luxemburg will offer “Digipass GO3” to its retail customers. ING Luxemburg ordered 10,000 units of VASCO’s one-button token and is the first bank in Luxemburg to offer Digipass to its retail customers. With the introduction of “Digipass GO 3,” ING will be the first bank in Luxemburg to offer its customers secure and phishing-free Internet banking. “Digipass GO3” is a lightweight, low cost strong user authentication
token, especially designed for the large volume banking market. “GO3” is
extremely easy to use – with a simple touch of a button, the customer
generates a unique one-time password. The password changes every 36
seconds and can be only used once, which means that it can’t be re-used
by fraudsters.

Details

VISA Europe Launches V PAY Debit

VISA Europe has introduced a new pan-European debit solution combining chip and PIN. The new “V PAY” accommodates domestic account numbering schemes, exploiting the existing infrastructure, capitalizing on investments in EMV chip migration, and maintaining local governance.
“V PAY” is compatible with local market account numbering structures
supporting 13-19 digit account numbers beginning with 4, 5 or 6. Issuers, acquirers and merchants can use their existing systems
and infrastructure at minimal cost. “V PAY” can also be co-badged with domestic debit brands during the transition to the type of single SEPA product that the ECB and the EPC are calling for. It will also carry the “PLUS” mark enabling global access to ATMs and is compatible with all EMV enabled terminals.

Details

Rentcash Offering Western Union Services

Edmonton-based Rentcash is now offering Western Union “Money Transfer” and “Money Order” services at its 130+ Cash Stores in nine provinces. Rentcash currently offer payday advance services as well as
its own private label debit card, the “Cash Store Cash Card.” Western Union and its subsidiary, Orlandi Valuta, have the largest money
transfer networks with approximately 202,000 agent locations in more than 195 countries and territories.

Details

United Bank Card Hires a Western Division Sales Exec

United Bank Card has hired Maxwell Sinovoi, formerly of Ingenico, National Sales Manager – Western Division. Maxwell will be the counterpart to Jonathan Brandon, United Bank Card’s National Sales Manager -Eastern Division. Maxwell’s primary duty will involve recruiting new ISOs and agents to sell merchant accounts on behalf of United Bank Card. United Bank Card, Inc. (UBC) is a payment and transaction processor serving businesses nationwide.

Details

ICICI Bank Launches its First UK Credit Card

India’s ICICI Bank has launched its first U.K. credit card program using Card Tech Limited’s processing service. CTL’s Processing service supports the issuing and acquiring transaction processing needs of over 20 clients from established centers in the United Kingdom and Cyprus. ICICI says it launched the new new VISA “Chip and
Pin” only four months after the project began.

Details

CIBC Completes Sale of Juniper to Barclays

CIBC completed an agreement to sell U.S.-based Juniper Financial Corp. to Barclays Bank on December 1st. Barclays signed a deal in August to acquire Juniper Financial and its $1.4 billion credit card portfolio from CIBC for $293 million in cash. The deal represents a premium of 15.2%. Juniper, with 700,000 accounts, also has co-branded relationships with AirTran Airways, Best Western, Caesars Entertainment, Frontier Airlines, Gulf Petroleum, Midwest Airlines and Sinclair Oil. Barclaycard Chief Executive, Gary Hoffman, will become Chairman of Juniper, and Juniper will become part of the Barclaycard International business.
CIBC acquired a 51% interest in Juniper Financial Corp., a credit card issuer based in Wilmington, Delaware, in 2001 and subsequently increased its ownership to 98%. The remaining 2% was owned by senior management of Juniper Financial Corp. Barclays purchased 100% of Juniper Financial Corp.

Details

USA Technologies to Ship its Mini in January

USA Technologies confirms it will begin shipment of its “Business Express Mini” in January. It is the smallest unattended credit card-activated business services center on the market. It is largely targeted at hotels, motels, and convention centers. “Mini” is approximately the size of an ATM kiosk and comes equipped with a PC that has Internet access, Windows XP, CD and DVD drives and a dedicated laser printer. It will also provide a printed receipt at the end of the transaction, charging the cost to a customer’s credit or debit card. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries.

Details

HSI and Givex Team to Launch a Restaurant Gift Card

AZ-based Hospitality Solutions and Givex have teamed to provide Ladeki Restaurant Group with a new gift card program for Ladeki’s locations in California, Nevada, and Arizona. The HSI Profit Series Point of Sale System is an easy to use, scalable, windows-based, point-of-sale solution designed to fit into nearly any hospitality environment. The simplicity of design is backed by extraordinary capability and intuitive graphics. Hospitality Solutions International (HSI), a division of MICROS Systems, Inc. provides technology solutions for the hospitality industry, with capabilities in software development and systems integration, as well as ASP Services and Internet based products. The Ladeki Restaurant Group, founded by Sami Ladeki, includes Sammy’s Woodfired Pizza with locations in Southern California, Arizona and Nevada.

Details

Average Credit Card Ticket Up 16% Since 1994

While gross dollar volume on bank credit cards have increased 2.5 times since 1994, the average transaction has increased about 16% over the past decade. The average transaction on a general purpose credit card, carrying the VISA, MasterCard, American Express, or Discover brand, is now approaching $102, compared to $87 in 1994. Last year was the first time in the industry’s history that the average credit card transaction topped $100. The increase in credit card ticket size is clearly related to the sharp rise in debit card transactions which siphon off smaller transactions. The average off-line debit purchase transaction is currently $39.78, according to CardData ([www.carddata.com][1]).

Avg. Bank Credit Card Transaction
1994: $87.28
1995: $89.90
1996: $91.76
1997: $96.22
1998: $96.52
1999: $98.91
2000: $99.46
2001: $99.25
2002: $99.76
2003: $101.64
Source: CardData (www.carddata.com)

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

Details

Tidel Reorganizes Debt and Raises New Funds

ATM manufacturer, Tidel Technologies, has completed a reorganization of its debt with Laurus Funds and secured additional financing of $3.35 million. Tidel expects to report operating losses for each of the quarters and for the fiscal year ended September 30, 2004, however, due to gains from certain non-operating items, the Company expects to report a net income for the quarter ended December 31, 2003 and March 31, 2004, and for the fiscal year ended September 30, 2004. Tidel Technologies, Inc. is a manufacturer of automated teller machines and cash security equipment designed for specialty retail marketers.

Details