Euronet India

Euronet Worldwide it is entering the India market with a multiyear ATM outsourcing agreement to operate 450 ATMs. Euronet will deploy 200 new bank-owned ATMs in India’s largest cities, and Euronet also will take over the driving of the bank’s existing 250 ATMs. When fully implemented, this outsourcing project is anticipated to represent 4 to 5% of India’s ATM market. The Indian market comprises more than 50 major banks, 300 million bank accounts and approximately 7,500 ATMs. In addition to the ATM outsourcing contract, Euronet has signed another contract for ATM and mobile recharge services with Hutchison Max Telecom, which operates under the Orange brand in Mumbai, India. Hutchison is a leading mobile operator in India with approximately 1.5 million mobile customers with 60 percent using prepaid accounts. Through agreements Euronet has signed with two banks to implement recharge services on their ATMs, Hutchison customers will be able to use approximately 1,000 ATMs to purchase prepaid airtime for their mobile phones

Details

Gift Card Applet

CO-based Smart Transaction Systems has developed a new gift card applet that adds gift card capability to specific models of VeriFone and Thales credit card terminals. The gift card applet is loaded onto the terminal and runs on the same terminal as the credit card software. The company has made versions of its gift card applet available for the VeriFone “Tranz 330,” VeriFone “Tranz 380,” VeriFone “Tranz 460” and all versions of the Thales “Talento” terminal.

Details

Budweiser Card

Anheuser-Busch and American Express Incentive Services, both based in St. Louis, have launched a special payment card promotion to encourage the use of designated drivers during the upcoming holiday season. More than 1,000 “Budweiser Designated Driver Thank-You Cards” will be awarded instantly or after the holidays. The grand prize, a payment card worth $20,000, will be awarded after the holidays, on January 21st. Instant prizes, $25 payment cards, will be awarded randomly by consumers calling a special toll-free number or registering on the Internet. The promotion runs from November 25th till January 1st. American Express Incentive Services develops and delivers business-to-business reward solutions from employee motivation, loyalty and recognition to distribution partners, sales representatives and customers. AEIS also offers virtual rewards that allow participants to receive points online and to redeem these points at a comprehensive list of online merchants.

Details

SureFire 3Q/02

Canada’s SureFire Commerce reported an operating loss for the quarter ending 9/30/02 of $2.0 million compared to $4.2 million in the prior quarter and earnings of $1.6 million in the same period of the prior fiscal year. Revenue for the quarter was $10.4 million, compared to $11.7 million for the quarter ended June 30th, and $19.3 million for the comparable period of the previous fiscal year. On October 1st, the Company signed a merger agreement with privately held ebs Electronic Billing Systems. Upon completion of the transaction, SureFire Commerce will acquire 100% of EBS in exchange for SureFire Commerce’s common shares representing approximately 63% of SureFire Commerce’s common shares on a fully diluted basis. Also on October 1st, SureFire sold substantially all of the assets of SiteSell.com Inc. to a third party in exchange for an interest-free note receivable of $3.8 million. Finally SureFire named Mitch Garber, formerly the Company’s EVP/Business Development, as President, CEO and Director of SureFire Commerce on October 1st. Garber played a major role in starting SureFire Commerce’s core business of credit card processing and is responsible for negotiating the merger with EBS. Mr. Garber has replaced Rory Olson, former President and CEO, who resigned on November 20, 2002 as Director of SureFire Commerce.

Details

SUREFIRE 3Q/02

SureFire Commerce reported an operating loss for the quarter ending
9/30/02 was $2.0 million compared to $4.2 million in the prior quarter and
earnings of $1.6 million in the same period of the prior fiscal year.
Revenue for the quarter was $10.4 million, compared to $11.7 million for
the quarter ended June 30th, and $19.3 million for the comparable period of
the previous fiscal year. On October 1st, the Company signed a merger
agreement with privately held ebs Electronic Billing Systems. Upon
completion of the transaction, SureFire Commerce will acquire 100% of EBS
in exchange for SureFire Commerce’s common shares representing
approximately 63% of SureFire Commerce’s common shares on a fully diluted
basis. Also on October 1st, SureFire sold substantially all of the assets
of SiteSell.com Inc. to a third party in exchange for an interest-free note
receivable of $3.8 million. Finally SureFire named Mitch Garber, formerly
the Company’s EVP/Business Development, as President, CEO and Director of
SureFire Commerce on October 1st. Garber played a major role in starting
SureFire Commerce’s core business of credit card processing and is
responsible for negotiating the merger with EBS. Mr. Garber has replaced
Rory Olson, former President and CEO, who resigned on November 20, 2002 as
Director of SureFire Commerce.

Details

WorldTeq Card

Telecommunications specialist WorldTeq Group has teamed with VAT to offer private branded debit cards. The Rockville, MD-based company says it is in discussions with several very large Hispanic organizations concerning distribution of the new card product. WorldTeq offers a wide range of telecommunications and Internet services along with related products and utilizes the services of Qwest, UUNET, Global Crossing, and Broadwing. In September, WorldTeq signed an agent contract with Merchant Bank Card Services. (CF Library 9/12/02)

Details

FRAUDGUARD

UK-based Card Tech Limited announced it has signed a licensing agreement
with International Moscow Bank of Russia for its rule-based “FRAUDGUARD”
product. It is the first “FRAUDGUARD” licence concluded in Russia.
“FRAUDGUARD” will use bank-defined rules to detect and manage fraudulent
transactions for all IMB payment cards. IMB, which has been a CTL client
since 1994, will use “FRAUDGUARD” in conjunction with its “CTL PRIME” card
and merchant management solution. CTL has more than 150 banking clients in
60 countries and all of the major payment associations have certified its
systems.

Details

Installment Card

Move over revolving credit, installment credit is moving onto payment cards. MasterCard this morning announced the launch of its “MasterCard Installment Card”, a new program to help member financial institutions’ customers pay for larger purchases. The new installment program is subject to a U.S. patent. Under the new program, members set the overall credit limit, installment terms and interest rate, and have the ability to offer cardholders two card options: “The Stand-Alone Installment Card Option” and the “Add-On Installment Card Option.” With the stand-alone version, cardholders open a new installment card designated exclusively for larger purchases. A single credit line is determined by the member financial institution. The add-on version enables members to instantly expand their MasterCard functionality. Purchases are handled through a combination of revolving and fixed payment options. Fixed payment transactions, for example, would be automatically triggered for all purchases over a preset amount. All installment transactions would have a fixed payment schedule. Both the revolving and the fixed payment options would be set by the issuing financial institution and detailed in an account agreement and on the account statement.

Details

VISA ASIA-PACIFIC

VISA Asia Pacific reported its retail sales volume reached US$175 billion
for the first nine months of this year, a growth of 26% in constant dollars
over the same period a year ago. Total transactions across the region for
the nine-month period hit 2.7 billion, up 24%, and the total value of
transactions on VISA cards (card sales volume) reached US$472 billion, up
35% over the same nine-month period. For the quarter ended 30 September,
VISA reported that retail sales volume reached US$61 billion, up 18% from
the same quarter a year earlier but down from 30% growth reported at
mid-year. VISA has a greater market share than all other payment card
brands in the Asia-Pacific region, combined with 59% of all card purchases
at the point of sale being made using VISA cards. There are currently more
than 365 million VISA-branded cards in the region.

Details

Fiserv & SEDONA

Fiserv Customer Contact Solutions announced this morning it is acquiring SEDONA’s existing customer base. Fiserv says the deal will enhance its ability to provide CRM solutions by tapping into a solid customer base. SEDONA says the agreement will allow the company to focus on its multiple channel strategy as well as expand into new vertical markets. Fiserv Customer Contact Solutions is registered with the British Standards Institute as an ISO 9001 certified company.

Details

GLOBALPLATFORM BOARD

GlobalPlatform has named its new Chair, Vice Chair and
Secretary/Treasurer. Jerry Johnson, President and CEO of Datacard Group and
existing Board Member of GlobalPlatform has been named as the new Chair of
GlobalPlatform while Jim Lee, SVP/Emerging Technologies at VISA
International retains his position as Vice Chair for a second term. Gilles
Michel, President, Financial and Security Services at Gemplus takes on the
role of Secretary/Treasurer. Three of the six seats went to incumbents:
Toshiaki Kuzuki of JCB, Shoichi Senda of NTT and Jim Lee of VISA
International. GlobalPlatform also welcomed three new members to its Board;
Christian Jûttner of Giesecke & Devrient, Carmen Carnero-Silvo of SERMEPA
S.A. and Verina Horsnell of Sun Microsystems.

Details