NPC Signs PIN-Debit Deal with ShopKo Stores

KY-based National Processing Company has signed a multi-year online debit processing agreement with ShopKo Stores, which operates 360 stores in 23 states throughout the Midwest, Western Mountain and Pacific Northwest. NPC currently provides authorization and settlement services for all of ShopKo’s MasterCard and VISA transactions. In addition, NPC has been named ShopKo Vendor of the Year. ShopKo honors strategic business partners who have demonstrated exceptional ability to partner in driving sales, reducing costs and delivering customer satisfaction.

Details

Capital One Loses VP/Controller

Capital One announced that Robert Crawford, currently VP/Controller of Capital One, will depart the company on August 31st. The issuer says that Aubrey Thacker, Director, Finance and Accounting, will serve as a replacement until a new executive is appointed. Cap One also announced that Gary Perlin, former CFO of the World Bank, has joined the company on July 29th, as previously announced. David Lawson, who is currently serving as interim CFO for the company, will now resume his responsibilities as President and CEO of Capital One Auto Finance.

Details

Fifth Third Signs Debit Card Deal with National Commerce

OH-based Fifth Third Bank has signed a contract with TN-based National Commerce Financial Corporation for check card processing services. NCF will take advantage of Fifth Third’s gateway and debit card processing services for over 800,000 cards. National Commerce Financial Corporation is a sales and marketing organization that delivers select financial and consulting services through a national network of banking and non-banking affiliates. With $22 billion in assets, NCF operates almost 500 branches in 14 of the nation’s fastest growing metropolitan areas throughout the Southeast.

Details

Nine Million U.S. Consumers Applied Online Last Year

NY-based Change Sciences Group released a report yesterday showing that more than nine million U.S. consumers applied for credit cards online during 2002. The company says that recent forecasts indicate that more than 50% of all credit cards will be obtained exclusively through an online channel in the next year. The top five credit card Web sites, based on ease of use, according to Change Sciences Group are Discover, National City, Chase, Fleet, and Bank of America. Change Sciences uses a benchmarking process which allows for the empirical comparison of Web sites across more than 30 usability metrics.

Details

Compete Hires Franco for Consumer Banking

Boston-based Compete has hired Stephen Franco, fomerly with U.S. Bancorp Piper Jaffray, as Managing Director, Consumer Banking and Finance. In this newly created position, Stephen will leverage his industry experience to meet ongoing demand by major banks and other consumer finance institutions for strategic services to help them better acquire, service, cross-sell and retain customers. Prior to joining Compete, Stephen was a Managing Director and Senior Research Analyst at U.S. Bancorp Piper Jaffray.

Details

Patterson Press Certified for Card Manufacturing

Fiserv’s Patterson Press has had its Nashville facility certified by VISA and MasterCard. To achieve certification, Patterson examined every aspect of its card manufacturing processes to ensure the highest level of security and effectiveness. A significant investment was made in equipment, technology and information to meet the requirements established by Visa and MasterCard.

Details

Intelli-Check Shareholder Lawsuit Dismissed

NY-based Intelli-Check had a shareholder lawsuit dismissed by the U.S District Court for the District of New Jersey. As previously disclosed, the plaintiffs, who were short-sellers of Intelli-Check stock, brought suit in October 2001, alleging violations of federal securities laws. Originally, the plaintiffs proposed a class action suit, but they amended their lawsuit in November 2001 into an individual action on behalf of the three individual plaintiffs.

Details

JCB & EQUANT

JCB has expanded its 10-year relationship with Equant by signing a three-year contract to build an MPLS-based IP VPN for JCB to connect 32 locations around the world. Working with JCB, Equant Professional Services consultants will design and manage the migration of JCB from its X.25 and frame relay network to an IP VPN. In addition, Equant consultants will assist in the implementation of a wireless LAN system that will allow JCB employees to access e-mail wirelessly, allowing them to be mobile at the workplace. Equant Frame Relay will still be used by JCB for extranet communications with its partners and merchants, and Equant global network management centers will continue to monitor the entire network around the clock.

Details

Juniper Nails a Card Deal with Best Western

Juniper Bank has inked a co-branded credit card deal with the world’s largest hotel chain. The new “Best Western MasterCard” will be marketed to “Gold Crown Club International” members. The card enables cardholders to earn one reward point for every three dollars spent at a Best Western and one reward point for every five dollars spent elsewhere. New cardholders will also earn a 1,200-point bonus upon their first use of the “Best Western MasterCard” and up to 800 points for balance transfers. Points can be redeemed for free stays and awards from other retailers. The new card has no annual fee and a 0% intro rate on balance transfers for 6 months, and a 9.9% variable on-going APR. In May, Juniper Bank launched the co-branded “Frontier Airlines MasterCard.” Juniper also issues the “AirTran A-Plus Platinum VISA” and the “Midwest Express Airlines MasterCard.” (CF Library 5/22/03)

Details

MC WORLDWIDE 2Q/03

MasterCard International reported that its second quarter global gross dollar volume, excluding PIN-debit, was up 4.8% to $308.1 billion. For the second consecutive quarter, Asia-Pacific experienced a decline in total volume, decreasing 9.1% to $51.3 billion. During the first quarter, MasterCard’s Asia-Pacific gross dollar volume dipped 6.8% to $54.2 billion. The decline in the Asia-Pacific region is attributable to the SARS outbreak and rising losses in countries such as South Korea and Singapore. Elsewhere, during the second quarter of this year, Europe was up 14.1% to $77.7 billion, and Canada was 13.5% to $10.3 billion. The hot Latin America region reported a 24.5% increase in 2Q/03 to $9.2 billion and the emerging South Asia / Middle East Africa region posted a 17.5% gain to $ 2.6 billion.

Details

Wells Takes Over as Vital CEO

Vital Processing Services, an independent joint venture company formed by VISA and TSYS, announced this morning that former Wachovia top executive Bev Wells has been named President and CEO of Vital, effective immediately. Wells spent 26 years at Wachovia, reaching the position of EVP for its Retail Division which included oversight of its credit card portfolio and acquiring business. She was named president of Wachovia Bank Card Services in 1994 and elected EVP in 1997. She succeeds Vital CEO Jonathan Palmer, who has resigned to attend to family responsibilities in Florida. Wells, who retired from Wachovia in 2002, is relocating Vital’s corporate headquarters in Tempe, AZ. Processing one out of every four electronic payment transactions in North America, Vital also processes for the top 25 acquirers in the USA. (CF Library 9/9/97; 4/26/99)

Details

BANK DANAMON & EURONET

Bank Danamon Indonesia has launched Euronet’s “Mobile Recharge” with all major mobile operators in Indonesia for both credit
and debit cards. Bank Danamon’s has approximately 1.25 million debit and credit cardholders. Euronet has connections with all four major Indonesian mobile operators, including Satelindo, Telkomsel, Excelcomindo and IM3, that combined represent more than 9.4 million customers. Euronet offers these services through a joint venture called Euronet Sigma Nusantara, which authorizes and processes the mobile transactions at ESN’s local data center in Jakarta. ESN performs daily settlements and reconciliation among all participants, including the banks and mobile operators. Euronet owns 80% of ESN.

Details