MasterCard Offers Jewel Card Cases

MasterCard International has taken its international platinum cards to a new level with the introduction of a series of “Jewel Cards.” The new “MasterCard Jewel Cards” are sleekly designed card cases encrusted with a variety of glittering precious and semi-precious stones in different settings. Each “Jewel Card” case comes with a unique clip mechanism allowing cardholders to insert their MasterCard cards into the case of their choice. There are a total of 13 designs, two of which are designed for men. The new card cases were unveiled in Bangkok last week, according to CardFlash International.

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HSBC Takes Over the Kmart Store Card

Kmart has switched its private label credit card program to HSBC. The new “Kmart Rewards” credit card offers $10 off the first card purchase of $50 or more and a $10 reward for every $250 in account purchases thereafter. Customers will also be offered 90 days, same-as-cash financing on any purchase over $100 during the 2004 holiday season. Kmart says it will also develop numerous promotional offers for its cardholders tailored to their individual customer purchasing habits. The card will be marketed through in-store promotion, print and online advertising beginning this week.

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Asset Acceptance Adds 2 Board Members

MI-based Asset Acceptance Capital has added William Pickard and William Jacobs to its board of directors. Dr. Pickard has gained experience as a corporate executive and is an expert on public policy. Mr. Jacobs has 30 years of experience in areas of administration including finance, corporate development, strategy, and other areas. Pickard and Jacobs will both join the audit committee. Pickard will also be joining the compensation committee and Jacobs will be joining the corporate governance and nominating committee. Asset Acceptance is a provider of alternatives in recovering defaulted consumer debt. The company has served credit originators for over 40 years.

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Corillian Corporate Banking Announced

OR-based Corillian is releasing “Corillian Corporate Banking” built on the Corillian “Voyager” platform. Corillian Corporate Banking addresses the need to deliver integrated, real-time corporate banking services that are user-friendly, a need that is often unmet at financial institutions. Important features of Corillian Corporate Banking include information reporting, deposit/loan management, domestic payments, global trade services, enterprise administration and notifications, and customer care. Corillian is the No. 1 provider of online banking solutions designed for top financial institutions.

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ONESMART PAYPASS

MasterCard has launched a new product that combines a contact chip and a contactless interface based on its “M/Chip 4,” an EMV-based smart card application for credit and debit cards. The new “OneSMART PayPass” will enable the “PayPass” program to expand beyond the U.S. into regions where EMV smart cards predominate, particularly Europe. With the product, payment details are captured by the terminal, then processed through the MasterCard acceptance network in the same way as a contact chip payment. The transaction is authorized either online by the issuer host or offline by the card. The card’s on-chip risk management capabilities can also accomplish “Card Authentication” offline. To further speed up a “PayPass” transaction, CVM requirements, such as signature or PIN, may be waived for low-risk, low-value purchases. ACI Worldwide and MasterCard have partnered for the first live issuance of EMV-compliant MasterCard “OneSMART PayPass” contactless cards. Ingenico, Oberthur, and Sagem Monetel have also teamed with MasterCard to support “OneSMART PayPass.”

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Hypercom Lands a Contract in Ireland

US Bancorp/NOVA’s euroConex unit has awarded Hypercom a $4 million contract for the migration to “chip and PIN” in Ireland. Hypercom’s “ICE 5500” and “HFT 106” terminal technology will be used in the migration. The first “Chip and PIN” transaction in Ireland using Hypercom’s “ICE” card transaction technology occurred in Naas/Newbridge. That transaction used a UK “Switch” card taken as “International Maestro” on Hypercom’s “ICE 5500” card payment terminal and “HFT 106” PIN pad. euroConex provides an integrated payments processing service to banks and merchants in Ireland, the UK, France, Sweden, the Netherlands, Spain and Poland using a multi-currency platform.

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MasterCard’s Global Volume Up 10% in Q3

MasterCard International reported third quarter worldwide gross dollar volume (purchases + cash ) of $365.9 billion, an increase of 10% over the third quarter of last year. Total purchases on MasterCard credit and offline debit cards increased 11.1% for the third quarter, as the number of MasterCard cards issued worldwide rose to 656 million. For the nine months ended September 30th, MasterCard GDV totaled $1.0 trillion, up 9.5% over the same period a year ago. Globally, purchase volume rose 11.1% to $266.8 billion for the third quarter compared to the same period in 2003. In the nine months ended September 30, purchase volume rose 12.2%. For complete details on MasterCard’s third quarter performance visit CardData ([www.carddata.com][1]).

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

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New MBNA AmEx Card has a Flying Start

MBNA reported this morning that it has already issued more than 300,000 American Express-branded cards to-date from initial pre-selling efforts. MBNA is now taking the “MBNA Affinity Rewards American Express” card to members of more than 1,000 affinity groups in the USA. Some of the affinity groups include the Aircraft Owners and Pilots Association, the American Society of Civil Engineers, the American Quarter Horse Association, National Education Association, and, the National Wildlife Federation. The new MBNA-AmEx card offers complimentary enrollment in “MBNA WorldPoints,” earning one point for every purchase, and double points for travel and dining until 2006. Cardholders receive access to American Express services including emergency assistance services offered at 1,700 AmEx location in 130 countries, travel accident insurance, CDW coverage, and fraud protection. AmEx is also providing cardholders with special offers from nearly 100 retailers. MBNA says it plans to develop a premium line of AmEx-branded cards next year. MBNA is the first U.S. bank to issue credit cards accepted on the AmEx network. Under the terms of the partnership, MBNA manages the customer accounts and receivables, and provides all customer service, billing and payment systems, accounting support, credit and fraud resolution, and card marketing.

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MasterCard Names 3 Asia-Pacific Winners

MasterCard announced that three co-brand card programs from Asia/Pacific have been inducted into its new “Winners’ Circle.” “Coles Myer Source MasterCard,” “Virgin Money MasterCard” from Australia, and the “Vanke Real Estate Co-Brand” from China received the inaugural award that recognizes partners for excellence in co-branding. The “Coles Myer Source MasterCard” is the fastest growing credit card in Australia, with over 470,000 cards issued since its launch in October 2003. The card is also the only no fee gold card in Australia. The “Virgin Money MasterCard” offers low pricing and an instant rewards program, attracting over 500,000 new applicants within the first nine months. The “Vanke Real Estate” co-brand was launched in more than six cities including Beijing, Shanghai, Shenzhen, Jiangsu, Liaoning, and Hubei. It has issued 30,000 cards to-date since September 2003, making it one of China’s most successful programs.

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