Lockbox E-Checks

Mellon Global Cash Management launched a pilot this month with a large-scale consumer biller to convert consumer checks into electronic payments in a lockbox environment. Recent rules changes by NACHA — the Electronic Payments Association give billers the opportunity to facilitate the accounts receivable conversion (ARC) of most consumer checks to ACH debits within a lockbox environment. This approach allows companies that receive consumer payments to utilize processors like Mellon GCM with its six-site lockbox network, to originate an electronic debit using a signed paper check as a source document.

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BabyMint Partnership

Atlanta-based BabyMint and the National Scrip Center have agreed to combine their merchant networks. The expanded network will include more than 1,000 retailers including: Sears, Ace Hardware, Eddie Bauer, and Old Navy. BabyMint, a proprietary savings program that enables individual investors to save toward a child’s college tuition by directing rebates on everyday purchases into their “529” educational savings accounts. BabyMint partnered with MBNA in May to issue the “BabyMint MasterCard.” Under the MasterCard program, cardholders earn a 1% cash-back rebate on all purchases, and bonus rebates, up to 20% through select BabyMint network participants. BabyMint’s network includes more than 700 retailers and 127,000 grocery stores. Santa Rosa, CA-based National Scrip Center is a nonprofit organization that helps other nonprofit organizations raise necessary funds by providing a variety of fundraising products, programs and services. NSC program participants direct their rebates to any of the 10,000 participating local and national charities and schools. Together, the two programs will direct the retail spending of nearly 3 million individuals. (CF Library 5/2/02)

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RDM & NPC

Ontario-based RDM Corporation has inked an agreement with National
Processing Company. NPC has selected the “RDM EC5000i” series imager to
provide imaging solutions to its retailers across
the USA. RDM provides hardware, software and service solutions for
electronic check conversion, bill payment processing and other markets
where imaging is a critical business. NPC processes more than 4.0 billion
transactions annually and provides services to over 645,000 merchant
locations in the USA, making the company the second largest processor in
the world.

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LCD Touchmonitor MSR

Tyco Electronics’ Elo TouchSystems division has rolled out a new touchmonitor that integrates a three-stripe, magnetic stripe reader for credit/debit cards, loyalty cards, and other card transactions. The 15″ LCD monitor has the MSR unit ergonomically positioned and color matched on the top, right corner of its new “1525L” touchmonitor so the user can swipe the card flat with a natural action. Most monitor and card reader systems have the reader tacked on and do not provide access the third stripe on mag cards which is normally reserved for applications such as customer loyalty programs. The new Elo monitor is available with a USB or serial connection for use with Elo’s “AccuTouch” five-wire resistive or “IntelliTouch” and “SecureTouch” surface-wave touch technologies.The serial version has two cables/external connectors to carry both touch and MSR data. The MSR conforms to Microsoft’s “Human Interface Class” specification version 1.1 for the USB interface and supports OLE for OPOS for the serial interface.

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SUNCORP VISA

Suncorp-Metway, Australia’s sixth largest bank and second largest general
insurance group, has signed a long-term processing agreement with US-based
Certegy. Suncorp is launching a new VISA card in 2003. Suncorp will process
the cards on its ‘BASE2000″ payment processing platform from its Melbourne
service center. Certegy currently processes 3.5 million cards at its
Australian center. Suncorp-Metway was created in late 1996 when the
Queensland Government owned Suncorp and QIDC groups were merged into the
publicly listed Metway Bank Ltd Group. Suncorp has total assets of more
than $34 billion.

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SCM & Connexus

MA-based Caradas this morning announced its “Connexus Platform” solution for “smart VISA Access” deployment now supports PC smart card readers from SCM Microsystems. The Platform is the first end-to-end solution for seamlessly integrating new and existing applications and security infrastructures with a broad range of identity, credential, access and relationship management frameworks based on smart cards, PDAs, wireless devices and other intelligent tokens.

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Trilegiant Hires Con

PrivacyGuard has launched an enhanced site which expands the ability of their 4.8 million members to go online and monitore their credit histories as a strategy for preventing identity theft. PrivacyGuard estimates that a half-million Americans will fall victim to identify thieves during the next year. Members and non-members can use the site to purchase credit reporting, score and analysis tools that include data from one or all three national credit bureaus, Experian, Equifax and TransUnion.

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Elan & CBA

The California Bankers Association has endorsed Elan Financial Services to its member banks as a trusted provider of ATM, debit and credit card issuing services. The CBA made its recommendation citing Elan’s experiences in the electronic funds industry. Other reasons why banks should consider Elan: the range of cards offered for consumers and businesses; the fact that Elan manages everything in-house thereby limiting potential problems; turnkey marketing support.

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Bank One Personas

Bank One is deploying the new NCR “Personas” ATMs that offer enhanced deposit technology that eliminates the deposit envelope, directly accepting checks and cash. Using NCR’s no-envelope ATM deposit technology, deposited checks are scanned and an image of the check appears on the ATM screen, allowing the customer to immediately verify the check amount. The check image is also printed on the customer’s receipt, along with a full count by denomination of all inserted cash. This total view offers proof of the deposit and a more complete account than currently offered at the teller window. Bank One is applying NCR’s “ImageMark” distributed capture system to process ATM check images in the back office. This state-of-the-art technology is being piloted for customers in select locations in Indiana and Kentucky. The new ATMs are driven by Concord EFS’ “Star” network.

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[1]: /graphic/ncr/moneydeposit.jpg

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Navy CardGuard

The world’s largest credit union has become the first U.S. issuer to offer MasterCard’s new “SecureCode” authentication system to its cardholders. Navy Federal Credit Union’s new “CardGuard” service is also the first live system to combine “Verified by Visa” and “MasterCard SecureCode” as a single integrated service. The VISA and MasterCard authentication systems are used by cardholders during online transactions at participating merchants. The new service is delivered by TSYS and powered by Cyota’s “SecureSuite” platform. Cyota currently powers 80% of all VISA cardholder accounts that are eligible for Verified by Visa in the USA. Navy Federal has more than $17 billion in assets, 2.2 million members worldwide, and 259 proprietary ATMs worldwide. According to CardData ([www.carddata.com][1]), Navy FCU had 761,181 gross accounts; 538,935 active accounts; and 973,679 cardholders at the end of the third quarter.

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

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FINGERPRINT ORDER

Fingerprint Cards AB has nailed another order from Texas-based AcciMetrix
and Calgary-based Cryptolex for its fingerprint technology. The two orders
have a combined value of 6.0 MSEK. AcciMetrix has now given Fingerprint
Cards an order for an additional 9,000 complete systems for fingerprint
verification, over and above the 1,000 systems first ordered. Cryptolex has
now given Fingerprint Cards a first order for 1,000
complete systems for fingerprint verification. The Fingerprint system is
completely chip-based, and reads, stores and compares fingerprint patterns
without the help of an external processor.

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