VISA USA and the Council for Exceptional Children have teamed up to develop a money management curriculum for students with disabilities. With, on average, more than 100 special education students per high school in the United States, Visa and CEC are working to enhance the tools available to thousands of special education teachers across the country, ensuring no student is left behind when it comes to learning money management skills. The Practical Money Skills for Life curriculum is teacher tested and teacher approved. Visa is the world’s leading payment brand and largest consumer payment system, enabling banks to provide their consumer and merchant customers with a wide variety of payment alternatives.Details
Experian Consumer Direct reported that consumers in only 10 U.S. cities have above average scores. Minneapolis topped the list at 707, followed by Boston at 705, and Washington, DC at 693. The average credit score for the U.S. is 678, according to Experian. The credit scores were compiled from the “Experian National Score Index,” which is based upon a nationwide sampling of three million consumer profiles. The Index is formulated using Experian’s consumer credit score model, called the “PLUS Score.”
Metropolitan Areas Credit Scores
Washington, D.C. 693
New York 688
San Francisco 686
Despite a higher offer from NCR, Montreal-based Optimal Robotics yesterday approved the sale of the “U-Scan” business to Fujitsu Transaction Solutions. Fujitsu offered $35 million to acquire the self-checkout business of Optimal. However, on Monday NCR announced it was raising its offer to $38 million with an April 9th closing date. In February, NCR agreed to buy Optimal’s self-checkout business for $30 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. (CF Library 4/6/04)Details
CardWeb.com announced this morning that the grand prize winner in its recently concluded “Spring Golf Promotion” is an executive with National Australia Bank. The sweepstakes, targeted at payment system executives, was designed to showcase the Company’s three major industry services, “CardFlash,” “CardData,” and “CardWatch,” currently used by more than 30,000 professionals worldwide. The “Spring Golf Promotion” awarded Warren Beckerman, Manager of Global Emerging Payments in National Australia Bank’s Melbourne office, a top-of-the-line golf driver. Beckerman will receive a “TaylorMade R360XD Titanium Driver” that features “Pull-Face” titanium construction. The club can deliver the fastest ball speed allowed by the USGA. CardWeb.com is in the process of launching two new services, “CardPeople” and “CardDesign” and is currently assembling a summer promotion to introduce the new services to its clients, according to Devek McKinley, business development manager.Details
NYC-based SMART System Technologies has raised $6 million in venture funding to further deploy its “PowerPay” CRM solution, already in use at the stadiums for the Seattle Seahawks and the Philadelphia Eagles. PowerPay maximizes the benefits of cashless, contactless payment processing for merchants. The CRM solution is based on patent-pending IP that creates a convergence of payment, data management and marketing communications functions through the company’s SMART Business Intelligence suite of products. Draper Fisher Jurvetson Gotham (DFJ Gotham) is a $100 million, early-stage, IT venture capital fund focused on companies in the greater New York region. The Grosvenor Funds is an early and expansion stage venture capital firm. pex Venture Partners, established in 1987, has five funds and more than $500 million under management.Details
AZ-based MedCom USA has selected Hypercom’s “T7 Plus” transaction terminal and software, and “MegaNAC 180” network access controllers, to electronically verify patient eligibility and complete claims processing, approvals and payments. The T7Plus reflects Hypercom’s steadfast insistence that mastering the most fundamental and practical attributes of a card payment terminal leads to superior performance. Hypercom Corporation is a leading global provider of electronic payment solutions that add value at the point-of-transaction for consumers, merchants and acquirers, and yield increased profitability for its customers. MedCom USA, Inc. provides innovative solutions for electronically processing transactions within the healthcare industry.Details
MaxxZone.com this week announced it is seeking to acquire American Card Services, developer of the “Ultima Card Twin-Access Debit Card Pack”. The ACS retail product, the Ultima Card(TM) Twin-Access Debit Card Pack(TM), provides cardholders with a two-card ATM/POS debit card with free replacement Debit MasterCard cards and a reloadable long distance calling card. In addition to loading cards at retail merchants of the card, cardholders are able to load their cards at more than 10,000 bank branches nationwide. ACS is a full-service company providing data processing, customer service, distributor and sales support, card production, marketing and sales stored-value debit card products and programs.Details
Info Touch Technologies announced that Mac’s Convenience Stores will add “ZapLink” e-services program in 34 Vancouver-area convenience stores. The “ZapLink” network was launched in Phoenix, Arizona in 2001 by The Circle K Corporation, which operates 1,663 convenience stores in 16 states. “ZapLink” e-service terminals are now operating in two states enabling customers to perform a wide range of transactions, from bill payments to mobile content purchases, quickly and easily using cash and credit cards. Couche-Tard acquired Circle K in December from ConocoPhillips Corporation, making it the fourth largest convenience store operator in North America with a combined network of 4,672 stores. Mac’s Convenience Stores is a subsidiary of Alimentation Couche-Tard.Details
A new financial literacy poll shows consumers are not generally honest when describing their use of credit cards and other loans. The study for Bankrate by RoperASW found that 75% of credit card users report that they do not make any major purchases on credit when they know they won’t be able to pay it off immediately; 69% claim they don’t put any charges on their credit cards unless they can pay off the bill right away. And 58% maintain they usually pay in-full each month. All of the figures contradict industry stats and other polls. Bankrate found that credit card usage was most widespread in the Northeast: 76% of those living in the Northeast have a credit card versus 63% in the Midwest and 59% in the South and West. Midwesterners were more likely than those in other parts of the country to pay their credit cards in full each month (68% versus 52% in the Northeast and 54% in the South). Interestingly, Bankrate found that Republicans are bigger users of credit than others and admit to having maxed-out on a credit card more often than Democrats. Democrats consider looking for and switching to credit cards with lower rates more important than Republicans do.Details
The Aix-en-Provence Court of Appeal decided to suspend the decision of the Marseille Commercial Court rendered on March 18th, that had ordered Gemplus to make a direct payment to the plaintiffs of damages of approximately 22 million euros, despite Gemplus S.A.’s immediate appeal. The Court of Appeal also ordered Gemplus S.A. to make a cash deposit in the same amount into an escrow account
as security pending the decision on the appeal on the merits. The 1997 lawsuit concerned an alleged breach of a 1992 contract by Gemplus regarding the promotion of smart card solutions for casino slot machines.
The Company decided to increase the provision made for this case in its first quarter by an amount of 3.4 million euros.
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.
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.