JCB Grants an Acquiring License to EURO 6000

Madrid-based EURO 6000 S.A. has signed a license agreement for JCB acquiring operations. This is the first time that JCB has granted an acquiring license to a payment network in Spain and completes JCB business relationships with the major Spanish acquirers. Thirty-five banks, primarily regional savings banks, participate in EURO 6000’s payment network and processing center services, for a total of approximately 260,000 merchants. EURO 6000 merchant acquiring operations and sales processing will begin by the end of March 2005. JCB card acceptance will be phased in, starting with about 140,000 merchants in the first year and 250,000 by the end of the third year. As a result the JCB card acceptance rate in the Spanish market will nearly double, benefiting not only the “La Caixa JCB Card” cardholders who live in
Spain, but also the large number of visitors from other European
countries.

Details

RONA to Offer AIR MILES Nationwide

Loyalty Management Group Canada has partnered with a major retailer and distributor of hardware, renovation and gardening products, to offer the “AIR MILES Reward Program.” RONA, a sponsor in Quebec since the launch of the “AIR MILES Reward Program” in 1992, extended its involvement in the established marketing program, with a national, multi-year contract. Effective immediately, collectors can earn one “AIR MILES” reward mile for every $20 spent at RONA and other RONA banners, cumulatively throughout a month. “AIR MILES” reward miles can be redeemed for more than 800 different rewards, such as movie passes, family attractions, CDs and DVDs, electronic merchandise, sports and recreation, travel and more. RONA operates a network of some 530
franchise, affiliate and corporate stores of various sizes and formats.
The “AIR MILES Reward Program” has more than 15.4 million Canadian participants.

Details

Global Payments and TNS Expand Relationship

Global Payments has selected TNS to deliver its primary transaction network transport in the USA and to provide supplementary transaction transport services for dial-up and Datapac transactions in Canada and transaction transport services in Europe. Global Payments offers processing solutions such as credit and debit cards, business-to-business purchasing cards, gift cards, check guarantee, check verification and recovery, electronic check, terminal management, and money transfer services. Transaction Network Services is a leading provider of business-critical, cost-effective data communications services for transaction-oriented applications.

Details

Bankard to Enable the GTEL Bankard Card

Rizal Commercial Banking Corporation’s Bankard subsidiary has signed a MOU with Miami-based GlobeTel Communications to enable GTEL to issue and process stored value cards under Bankard. The “GTEL Bankard Card” will allow customers to access 5,000 ATMs locally for about $0.25 a transaction. GTEL has bundled IDD calling cards, insurance policies,
education plans, and other virtual products into its stored value cards for overseas Filipino workers. Bankard is the only listed credit card company in the Philippine Stock Exchange. Bankard issues and acquires VISA, MasterCard and JCB marks, and has a portfolio of about 280,000 cards.

Details

84% of Cardholders Ignorant When Complaining

More than one out of four U.S. cardholders have no clue where to file a formal credit card complaint against a national bank. Nearly half of Americans believe such disputes are handled by the Federal Trade Commission while a mere 16% correctly say its the Office of the Comptroller of the Currency. An informal CardWeb.com homepage poll of 1,061 unique participants, conducted in July, also found that 10% of consumers thought the Federal Reserve Board processed complaints about credit cards issued by national banks. For consumers, the OCC has always been an obscure regulatory agency of the U.S. Department of the Treasury. However, the OCC has been reaching out to consumers. Earlier this year, the OCC added a searchable list of many of the national bank operating subsidiaries that do business directly with consumers. The CardWeb.com survey has a margin of error of plus or minus approximately 5.0 percentage points.

[Click Here For The Operating Subsidiaries of National Banks In PDF Format][1]

[1]: /cardflash/secure/oldstatic/2004/september/8a.pdf

Details

CO-OP Incents Members to Meet the DES Deadline

The nation’s largest credit union EFT network is planning to distribute up to $2.3 million in “Triple DES” ATM compliance incentives to its members. The CO-OP Network is offering member credit unions a distribution for each ATM that is certified to be “Triple DES” compliant by April 29, 2005. The incentive, which applies to ATMs that are attached to an intercept processor or driven directly by CO-OP Network, requires that member credit unions submit proof of “Triple DES” certification prior to the deadline. The “Triple DES” standard encrypts data through three separate keys, effectively taking information through a three-round coding process to scramble it beyond all recognition. The CO-OP Network has more than 1,725 credit union members.

Details

Biometric Smart Payment Cards Finally Deployed

The first biometric smart card deployment in financial services is in the pipeline for a third world country. The top financial institution in the Ivory Coast, Caisse d’Epargne et des Cheques Postaux, has inked a contract with Oberthur Card Systems for 500,000 cards and 300 biometric readers. CECP has 200 branches throughout the country. Oberthur developed a solution that provides two-level authentication of the cardholder with both a photograph and fingerprints. After a three-month pilot deemed successful by both customers and employees of Abidjan’s main branch, the bank will deploy the project, known as “Reference,” in all of its branches.

Details

I.C.E. Becomes a Significant Gift Card Player

Oxnard, CA-based International Card Establishment has completed its acquisition of Neos Merchant Solutions, an Irvine, CA-based gift and loyalty card provider. The deal which includes cash, debt, and stock is valued at $7.5 million. Neos revenues are expected to be between $6 million and $9 million for 2004 and $9 and $12 million in 2005. I.C.E. has projected revenue of $22 million (pro forma) in 2004, expected to grow to $50 million (pro forma) in 2005. I.C.E reported net revenues of $3.5 million for the second quarter compared to net revenues of about $250,000 in the year ago quarter. The net loss for 2Q/04 was $615,000 compared to $130,000 one-year ago. I.C.E. is aiming to become a direct credit card processor and expects to make more acquisitions in its bankcard unit. For complete details on I.C.E.’s latest results visit CardData ([www.carddata.com][1]).

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

Details

Fair Isaac Releases New Version of TRIAD

Fair Isaac has released the “TRIAD” adaptive control system version 8.0. The new version features four decision areas: “Credit Facilities” for establishing maximum customer exposure and managing and apportioning credit lines and limits; “Collections” for more efficient handling of overdue accounts and customers; “Communications” to enable cross-sell, up-sell and other marketing promotions, such as pricing and re-issue or loan re-extension decisions; and “Authorizations” to minimize transactions needing manual intervention and to enable real-time line increases. “TRIAD 8.0” also helps businesses meet regulatory compliance standards including “Basel II.”

Details

Top Airline Cards Quietly Drop Annual Fees

Three of the nation’s top airlines and their credit card partners have quietly rolled-out no annual fee versions of their co-branded credit cards this year. American Airlines, United Airlines, and Delta Airlines now offer free cards, however, the mileage earned on purchases is 50% less than their higher-fee brethren. In January, Citibank and American Airlines introduced the “American AAdvantage Bronze MasterCard” with no annual fee, according to CardWatch(R)(cardwatch.com). Citibank charges an $85 annual fee for its “Platinum Select/AAdvantage World MasterCard” which offers one air mile for each dollar charged. The Citi/AA card is available by invitation or by telephone request only. The Bank One “United Airlines MileagePlus No Annual Fee VISA” and the “Delta SkyMiles Options Card from American Express” were also introduced this year without annual fees. The Bank One/UAL “VISA Signature” card carries a $60 annual fee and offers 1/1 mile/dollar earnings. Bank One also waives the annual fee for United 100,000 mile fliers. American Express annual fees for its Delta cards range from $55 to $135. However, AmEx will waive up to $55 of the fee if the cardholder also holds an AmEx consumer charge card. The United and Delta no annual fees cards are only available via telephone request. None of the three airlines offer the free cards via their Web sites.

Details

ACH Direct Signs a Southern Calif. Toll Deal

ACH Direct has signed a contract with the Transportation Corridor Agencies, which operate Orange County’s 67-mile public toll road system, to provide toll transaction processing services to their organizations. ACH’s responsibilities will include processing all the checks received by Toll Roads customers. ACH Direct, Inc. is a chief provider of electronic payments processing and verification and authentication services, serving a broad range of companies worldwide. Over 290,000 trips are taken on The Toll Roads every weekday, saving drivers about 21 minutes for every trip.

Details