Euronet to Install 100 Off-Premise ATMs for Citibank in Major Cities

Euronet Worldwide has signed a multi-year ATM outsourcing and deployment agreement with Citibank India. Euronet will install 100 off premise ATMs for Citibank in major cities across India over the next six months. Euronet will select the sites, install the ATMs and all related equipment, drive the ATMs from Euronet’s operations center in Mumbai and provide all of the day-to-day outsourcing services. Citibank is a member of Euronet’s Cashnet shared ATM network for its existing ATMs and these off premise ATMs will be added to the network. Cashnet is the largest nationwide ATM shared network in India today with
more than 2,800 ATMs.

Details

Inkas ATM Network Sold to TRM Corporation

Inkas Financial has been sold to U.S.-based TRM Corporation. Inkas is an independent ATM company with 450 sites comprised of both merchant-owned and full-placement programs. The undisclosed purchase
price was paid in cash. The addition of Inkas is expected to be accretive on an earnings per share basis and will increase the TRM’s ATM estate in the UK by 20% to 2,600, while adding $4.75 million dollars in estimated annual gross revenue which represents approximately 20% of the existing UK ATM business. As a result of the acquisition, TRM will also receive one of six Triton ATM hardware distributorships in the United Kingdom. TRM’s customer base has grown to 20,000 retailers throughout the USA and 30,000 locations world wide, including over 5,000 locations across the UK.

Details

Debt Per Adult Rises 60% to $35,674 since 1999

The average credit card balance increased 70% since 1999, to $2,466 in 2003. Total credit card balances in the country amounted to $24.1 billion at the end of last year, up from $5.6 billion at the end of 1999.
According to the “Datamonitor Personal Lending in Australia 2004” report, says that total overall debt per Australian adult increased 60% to $35,674 in 2003, up from $22,158 in 1999. Datamonitor says the total number of cards-in-force rose from about 8.8 million to almost 10 million over the same period, and consumer charge volume on credit cards was double debit card volume. The research firm says housing and personal debt in Australia is now rising faster than disposable income. Datamonitor noted that the largest five card issuers make up 83% of the Australian credit card market.

Details

Catuity Expects a 2004 Loss Due to the Winding Down of the Target Program

Catuity reports that its expects to post first quarter revenues of $0.5 million compared to $1.5 million for last year’s first quarter. The Company says it expects to incur a loss in 2004, as compared to its close-to-break-even 2003 results, as a result of the phasing out of the “Target VISA” smart card program. However, Catuity has current channel partner agreements with Maritz, Certegy, KESM, and EMS which should generate revenue this year and additional revenue in 2005 as they add new retail licensees. Catuity say it anticipates that its efforts in 2004 will be directed more toward magnetic stripe cards, rather than smart cards. The Company says that in North America, Western Europe and Australia, it believes that mag stripe with loyalty rewards stored, not on the card, as in the case of smart cards, but on a host server will be preferred. Its discussions with Maritz, Certegy and others, indicate that this appears to be the preference. Catuity says it will utilize its system with smart cards as EMV mandates are accomplished in various regions of the world.

Details

CreditCall and ANT Team to Develop a Set Top Box Payment Service

CreditCall and interactive TV software development specialist, ANT, have teamed to develop a payment system that will allow consumers to purchase services using their
credit or debit card, directly from an on-screen menu from their satellite, cable or broadband decoder box. The payment system employs CreditCall’s “CardEase” transaction technology,
which securely processes payment from the user’s card. ANT’s “Fresco” browser for TV is being integrated with “CardEase” to render an intuitive user interface, enabling the consumer to operate the payment system via their TV screen and remote control. Communications with the payment host will be via the back channel fitted to the cable or broadband decoder box, or by normal telephone line in the case of satellite. The Creditcall and ANT technology partnership will also allow satellite, cable and IPTV companies to reduce the number of failed subscriptions through the convenience of an “on-box” payment method, and at the same time reduce the costs of call centers and traditional payment methods.

Details

JCB and Starwood Hotels Launch a Five Month Promotion

JCB and Starwood Hotels and Resorts Worldwide have announced an agreement to promote tourist demand among JCB cardholders in Japan. The current campaign is intended to build demand among JCB’s more than 40 million cardholders in Japan by adding benefits for overseas use. The campaign will run for 5 months through August. Cardholders making a reservation at a Starwood Hotel through JCB Travel Co. are automatically entered in a lottery to win Starwood and JCB gift certificates. JCB cardholders also have a chance to win “50% Off” vouchers for stays at selected hotels and resorts in popular destinations such as Hawaii, Seoul, Shanghai and Bali. JCB is promoting the campaign through multiple customer channels including the JCB home page and cardholder magazines like “The Gold” which reaches 900,000 priority customers a month in Japan.

Details

Certegy Exits 7-Eleven Vcom Program

7-Eleven has switched vendors for check-cashing services at its stores equipped with the Company’s self-service “Vcom” kiosk. Dallas-based CashWorks will now handle the cashing of government and payroll checks at approximately 1,000 7-Eleven stores in 13 states where “Vcom” is installed. Effective July 1st, Certegy will no longer provide risk-decisioning services to Vcom for payroll checks. However, Certegy will continue to provide point-of-sale check warranty services for personal checks via more than 2,000 company-operated 7-Eleven store locations in the USA. 7-Eleven proprietary kiosk offers ATM capabilities and touch-screen convenience to provide customers with financial and other services 24X7. Customers can use “Vcom” kiosks to conduct ATM transactions, cash checks, purchase money orders and money transfers, access Verizon residential telephone services, pay bills and purchase phone and stored-value cards.

Details

Simpay Names Encorus its Processor for M-Payments

Simpay has signed a multi-year transaction processing deal with First Data’s Encorus mobile payments services company. Simpay is a consumer m-payment brand formed by Orange, Telefonica Moviles, T-Mobile, and Vodafone last year, with its commercial launch scheduled for the first quarter of 2005. Simpay brings together consumers, mobile operators and merchants to deliver convenient and accessible m-payments across national borders. Other interested companies include 3, debitel, Elisa (previously Radiolinja), KPN Mobile Group, Mobilkom, O2, Optimus, SFR, TeliaSonera, and TMN. The Founding members of Simpay represent over 280 million wireless subscribers worldwide.

Details

LendingTree Offers AmEx Gift Card as a Grand Prize

LendingTree has launched the “You Win” sweepstakes with a $25,000 “American Express Gift Card” as the grand prize. In addition to the sweepstakes, LendingTree currently rewards its customers who use the Realty Services program to buy or sell their home with a personalized American Express branded gift card in values up to $2,000. LendingTree, an operating business of IAC/InterActiveCorp, is the leading online lending Exchange that connects consumers, Lenders, REALTORS(R), and related service providers. American Express Incentive Services (AEIS) provides business customers with a wide array of incentive and stored value card products for consumer promotions and employee rewards.

Details

NCR and Fujitsu Want Optimal Robotics

NCR said this morning it has upped its offer to acquire the self-checkout business of Montreal-based Optimal Robotics to $38 million and wants to close the deal as originally scheduled on April 9th. In February NCR agreed to buy Optimal’s self-checkout business for $30 million. Fujitsu has since made an offer of $35 million. NCR indicated it will take legal action against Optimal and others related to Optimal’s solicitation of the bid from Fujitsu. NCR says it believes that Optimal’s actions to date are improper and in breach of its legal obligations.

Details

eFunds Licenses ATM Manager Pro

eFunds has acquired a license to use e-ClassicSystems’ ATM channel management software, “ATM Manager Pro”. eFunds will utilize a majority of ATM Manager Pro’s functionality including asset compliance, transaction warehouse, financial analysis including profitability and merchant statements, and cash forecasting and settlement. The system will also be integrated with existing legacy systems and operations to eliminate duplication and provide a central repository for ATM information. e-ClassicSystems, Inc., based in Norwood, Massachusetts, is a premier provider of software solutions to organizations that deploy or manage ATMs.

Details

Socially Responsible VISA Card Launched

Portland, OR-based ShoreBank Pacific has launched the “Salmon Nation VISA” card. The new card will support the “Salmon Nation” initiative of Portland-based Ecotrust, a non-profit organization promoting the interdependency of regional economic and ecological systems. Launched last fall, Salmon Nation is raising awareness of issues and behavioral choices that contribute to enhancing the health of regional watersheds and the economies of the people that live in them. More than 3,500 people have declared their “Salmon Nation” citizenship to date. The bank will contribute 50% of the income it generates from the card to Ecotrust’s efforts to build and promote “Salmon Nation.”

Details