Showtime to Offer Toys “R” Us Gift Cards for a Promotion

Showtime Networks is launching a subscription campaign next month that offers a $50 Toys “R” Us gift card good for each new account. The campaign begins September 1st and runs through December 31st. The incentive will mail to call centers in early September, and will include promotional displays to support awareness of the incentive in participating call centers. Hundreds of prizes, including $5,000 Visa Gift Cards and Vespa Scooters, will be awarded to winning CCP as part of the sweepstakes.

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Customer Self-Service for Credit Cards Released

MA-based edocs has released “Focused Solutions” which includes a “Customer Self-Service for Credit Cards” solution that provides issuers with a complete end-to-end Web application that deflects customer calls by moving common customer inquiries to the company’s Web site. edocs is best known for developing and delivering comprehensive e-billing and online customer care systems for some of the leading companies in the world. Initially, edocs will offer three types of pre-packaged solutions: e-Statements, e-Billing, and Customer Self-Service. Solutions like e-Statements for Banking move transactional statements like those for checking/savings accounts, trade confirmations and tax documents online to improve customer access to account information and reduce paper and mailing costs.

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eConnect was Grossly Mismanaged

EyeCashNetworks, formerly known as eConnect and the distributor of “BankEyesOnly” cash pads, acknowledged yesterday that the company was grossly mismanaged prior to the appointment of new senior officers and it is hopeful it can eliminate its liabilities. This settlement is consistent with the company’s policy to deal fairly with the existing creditors while giving the company a chance to get it’s business plan off the ground and to move forward. The company was grossly mismanaged prior to the appointment of Chris Jensen and Gilbert Serrano as head officers and it has been an uphill battle to turn the corner. However, EyeCashNetworks is working vigorously to eliminate all of their liabilities. If the company can continue on its current path of working with its creditors while simultaneously opening up new doors with its technology, management is very hopeful that it can make the company profitable.

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Survey Finds Favor with Debit Cards for College Students

A new survey has found that 70% of consumers believe debit cards are a better option for college students than credit cards. The research also found that seven out of ten Americans believe it is a bad idea for credit cards to be in the hands of college students. The survey of 1,200 Americans was conducted by the non-profit InCharge Institute of America which publishes the YOUNG MONEY magazine.

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CO-OP Network Offers CU Access to VBV

The CO-OP Network is now making “Verified by VISA” available to its 1,300 credit union members. Verified by VISA should help allay concerns about Internet fraud. Verified by VISA, which uses a series of identification measures to authenticate legitimate online purchases, allows cardholders to register their information through a link on a participating credit union’s Web site. When shopping at participating Verified by VISA Internet merchants, the cardholder’s registration information can be compared to the credit union file on that cardholder, which is held at eFunds.

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EASYFLOW OYSTER

Schlumberger’s “Easyflow” contactless smart cards will be used for London’s new transport ticketing and payment program, “Oyster.”
Annual and monthly season ticket holders are already using the “Oyster” service to travel across the U.K.’s capital city. “Oyster” cards are now available to annual and monthly “Travelcard” and “Annual Bus Pass” holders via the Internet. The rollout will be extended later to include 7-Day tickets and a pay-as-you-go facility, “Pre Pay.” “Oyster” is ultimately expected to handle five million daily transactions. The TranSys consortium, led by EDS and Cubic Transportation Systems, developed the “Oyster” system.

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VISA ESPANA

The plan by VISA España financial entities to modify the current structure for representatives has been accepted by the VISA International EU board. The new structure means that Spanish entities will now be represented by three different Group Members: “ServiRed,” “EURO 6000” and “Sistema 4B.” For its 30 year history in Spain, VISA International has had two Member Groups: “Visa España” and “Sistema 4B” around which the rest of the Spanish financial entities were grouped. “ServiRed” manages 27.3 million cards, 444,342 POS terminals and a total of 25,126 ATMs. “ServiRed” card’s business volume reached 70.747 billion euro of which 29.426 billion were purchases. “Euro 6000” is a Public Limited Company which manages the payment means networks and products jointly promoted by its 35 partners who have issued 13.1 million cards under different international brands. It also has 12,650 cash dispensers and 242,000 POS terminals, that during 2002 made 589 million transactions with a total business volume of 40,136 million euros.

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TRM’s ATM Operations Revenues Up 60%

Portland, OR-based TRM Corporation reported net income for the second quarter of $1.15 million compared to a net loss of $404,000 for the same period in 2002. Second quarter net sales grew to $20.22 million, an increase of 14.3% over 2Q/02, primarily due to unit expansion and higher pricing throughout the Company’s ATM network. ATM operations produced net sales of $8.76 million during the second quarter, an increase of 60.0% as compared to the same period in the prior year. At the end of June, the Company’s ATM network consisted of 3,273 revenue-generating machines deployed throughout the U.K. and USA, which represents an increase of 594 ATM machines when compared to the same date in 2002. For complete details on TRM’s second quarter performance visit CardData ([www.carddata.com][1]).

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

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CONSUMERS PIN READY

A new study has found that only 4% of U.K. consumers are not yet at ease with remembering and using a four digit PIN. The research, conducted for VISA by TNS, suggests that people in the U.K. will have no problem adopting new chip and PIN payment technology when it is rolled out nationally later this year. The introduction of chip and PIN is already underway in Northampton where 600 retailers are live with chip and PIN. More than 181,500 chip and PIN cards have been issued by participating banks. The research also found that 29% of U.K. consumers have no problem remembering a range of different four digit PINs for most purposes in everyday life. The study found that, on average, U.K. consumers have three personal identification numbers committed to memory for day to day use, such as withdrawing cash from ATMs, setting a burglar alarm or a security code on a mobile phone.

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Credit Card ABS Issuance Trust Updates Launched

Fitch Ratings has launched a new Web-based information product for credit card ABS investors called “The Credit Card ABS Issuance Trust Updates”. The Credit Card ABS Issuance Trust Updates,’ is a new web-based information product for credit card ABS investors. Fitch designed these comprehensive reports to provide investors with timely and innovative research on credit card issuance trusts updated monthly.

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724 SOLUTIONS 2Q/03

Toronto-based 724 Solutions reported second quarter revenue of $3.0 million, compared to $3.5 million in the previous quarter and $5.0 million for the same period last year. The net loss for the second quarter was $6.8 million, compared to $13.1 million in the second quarter
of 2002. In the second quarter, the company announced the launch of its “X-treme Mobile Data Applications,” initially centered on collections management, fraud protection, banking and credit card management. The Company says these actionable alerts-based applications will provide mobile network operators an immediate opportunity for revenue through the expansion of their relationship with their enterprise clients. 724 Solutions and our mobile operator partners were selected for several pilots of these applications, which are currently underway.

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