BMO Bank of Montreal Renews AIR MILES for its MasterCard Programs

BMO Bank of Montreal has inked a multi-year renewal to continue offering “AIR MILES” on its “Mosaik MasterCard” and “AIR MILES MasterCard Business Card.” More than 60% of Canadian households actively collect “AIR MILES” reward miles at more than 100 sponsors representing over 12,000 retail and service locations across the country. The Canadian “AIR MILES Reward Program” is operated by The Loyalty Group, a subsidiary of Dallas-based Alliance Data Systems. BMO Bank of Montreal has been a part of the “AIR MILES Reward Program” since its inception in 1992. In 2002, BMO Bank of Montreal extended its “AIR MILES” program under its retail banking banner.

Details

MAN-U CARDS

Barclaycard has taken its Manchester United credit card into Ireland. The issuer secured the global rights to issue “ManU” cards in April of last year, except in Britain and Singapore. In August, Johannesburg-based Standard Bank partnered with Barclays to form a new division to issue “Barclaycards” in South Africa. “The Manchester United Barclaycard” was the first of four new credit card products to be introduced. There are 3.8 million registered Manchester United supporters in South Africa. The “ManU” card offers the “RedRewards” loyalty program. Barclaycard was set up in 1966 and was the UK’s first credit card. Barclaycard is now Europe’s leading issuer of credit cards with 10.4 million customers and 12 million cards in circulation worldwide. Barclaycard operates in 62 countries across Europe and Africa. In the UK, Barclaycard has over 9 million customers. Barclaycard can be used to pay for goods and services in more than 22 million places in over 200 countries and to withdraw cash from over 600 000 ATMs and banks worldwide.

Details

Cash Systems Moves to the AMEX

Minneapolis-based Cash Systems has moved from the OTC BB to the American Stock Exchange, and also announced it has signed a multi-year deal for gaming cash access solutions with Native American Cash Systems of Florida. The Company’s products will be installed in a total of five Seminole tribal casinos in the State of Florida plus the new Hard Rock Hotel and Casino in Hollywood, which is expected to open in the spring of 2004. Cash Systems, Inc. has grown from a regional ATM provider to one of four cash access companies serving the gaming industry.

Details

2003 Portfolio Sales Impact 75 Million Cardholders

The record number of credit card portfolios that changed hands last year impacted as many of 75 million consumers, a six-fold increase over 2002. More than $40 billion in credit card assets were sold during 2003, involving nearly 200 portfolios, a 60%+ increase over 2002. According to R.K. Hammer Investment Bankers, 3% of all U.S. bank cards, or 12 million cardholders, were affected by portfolio acquisitions in 2002. During 2001, 4.8 million card accounts changed ownership, compared to 9.5 million accounts in 2002, and 60.0 million accounts in 2003.

Annual Acquisition Effect
YEAR ACCOUNTS CARDS
2001: 4.8MM 6.0MM
2002: 9.5MM 12.0MM
2003: 60.0MM 75.0MM

Source: R.K. Hammer Investment Bankers

Details

LG Card Fine Tunes Web and Intranet with ProactiveNet

LG Card has selected ProactiveNet for business critical Web operations and internal application infrastructure performance. ProactiveNet’s patented correlation and root-cause analysis technology will enable LG Card’s IT staff to rapidly measure, analyze and visualize performance metrics across heterogeneous network devices within the end-to-end application infrastructure. This capability will help IT staff pinpoint and resolve network performance problems before they can affect customers accessing LG Card’s online credit card services. Almost 19 million people in South Korea currently use LG Card credit cards, with transactions totaling more than $134 billion a year.

Details

BMO Bank of Montreal Renews AIR MILES

BMO Bank of Montreal has inked a multi-year renewal to continue offering “AIR MILES” on its “Mosaik MasterCard” and “AIR MILES MasterCard Business Card.” More than 60% of Canadian households actively collect “AIR MILES” reward miles at more than 100 sponsors representing over 12,000 retail and service locations across the country. The Canadian “AIR MILES Reward Program” is operated by The Loyalty Group, a subsidiary of Dallas-based Alliance Data Systems. BMO Bank of Montreal has been a part of the “AIR MILES Reward Program” since its inception in 1992. In 2002, BMO Bank of Montreal extended its “AIR MILES” program under its retail banking banner.

Details

3DES Compliance White Paper Released

MA-based e-ClassicSystems, developer of “ATM Manager Pro,” has released a white paper on the “3DES” compliance project. Managing the 3DES Project: A Business Perspective analyzes not only the 3DES compliance project, but also how it could be an opportunity rather than a mandate. The paper examines the potential additional opportunities and identifies ways to maximize your investment of time and money. e-ClassicSystems, Inc. is a premier provider of software solutions to organizations that deploy or manage ATMs.

Details

TWS Signs CA CU for ATM Deposit Management

CA-based Wescom Credit Union has selected TWS’ “ALERTMANAGER” and “OMEGA” to automate the processing and fraud management of an ATM deposit. TWS developed OMEGA to help its customers streamline and automate ATM deposit processing from start to finish. With ALERTMANAGER, Wescom can customize its fraud prevention criteria to meet its specific needs. Wescom Credit Union is a not-for-profit, financial services cooperative serving more than 200,000 members at 25 branches throughout Southern California. Clearwater, Fla.-based TWS Systems, Inc. is a privately held financial services company that is the first company to offer total deposit automation with image-based ATMs.

Details

Charter One’s Free Gift Cards Strikes a Chord

OH-based Charter One Financial reports it sold more than 600,000 of its “MasterCard Gift Cards” from November through December. The bank says it projected sales of approximately 200,000 cards. Retail banking centers accounted for roughly 80% of total sales, while the remaining 20% were ordered over the Internet and phone. Charter One launched its new gift card in late October. The card was the first “MasterCard Gift Card” featuring no upfront fees for the card, or fees for processing. Bank of America, the largest issuer of bank gift cards, charges a $5.95 fee for new cards with up to $300 in value, and a $7.95 fee for values between $300 and $600. Most issuers of VISA- or MasterCard-branded gift cards charge processing fees. However, Charter One charges a $2 fee for each ATM withdrawal or cash advance and a $1 fee for each PIN POS transaction. (CF Library 10/29/03)

Details