PAYWARE CMS 7.0

Trintech Group announced the launch of “PayWare CMS 7.0.” The new software
includes many new features including: EMV chip compliance;
multi-institution issuing/acquiring support; multi-currency
issuing/acquiring support; support for Internet security standards,
including VISA’s “Verified by Visa” and MasterCard’s “SecureCode/UCAF,” and
a configurable fraud detection module.Both Bankart in Slovenia and Tatra
Banka in Slovakia have deployed “PayWare CMS 7.0.”

Details

Debit Promotion

Commerce Bank announced that it will be giving away $1,000 a day in November and December as part of its “Skip the PIN, Sign and Win” sweepstakes that awards cash prizes to randomly selected sweepstakes entrants with a final grand prize of $25,000 will be awarded at the end of the year. Commerce Bank Visa(R) Check Card, ATM Plus Card, Platinum Check Card, CommerceOptions(SM) Check Card and Business Check Card holders are automatically entered into the contest each time they use their Commerce Check Card and sign for their purchase rather than enter their Personal Identification Number (PIN).

Details

JCB CARD

Bugis Junction, United Overseas Bank, and JCB International have teamed
to offer the “Bugis Junction JCB Card.” This is the first credit card
program implemented mall-wide in Singapore. It is also the first card to be
personified by a specially-created mascot, “Mizu,” which is a character
inspired by the famous Bugis Junction interactive fountain. Cardholders can
accumulate “Mizu” points on smart card chip to redeem rewards ranging from
exclusive gifts to Seiyu shopping vouchers. Cardholders also enjoy double
“Mizu” points on their birthdays and exclusive birthday treats, including
exclusive room rates at InterContinental Singapore. Every S$10 charged to
the “Bugis Junction JCB Card” by cardholders will earn them 2 “Mizu”
points. The card also offers cardholders savings and discounts at various
participating outlets in Parco Bugis Junction. The discounts range from 3%
to 20%.

Details

MBNA Nuggets

MBNA has signed affinity credit card deals with the Denver Nuggets of the National Basketball Association and the Colorado Avalanche of the National Hockey League. Cardholders will enjoy no annual fee, the highest credit lines in the industry, low introductory annual percentage rates for cash advances and balance transfers. Earlier this year, MBNA received the endorsement of the National Basketball Association, the Women’s National Basketball Association, the Florida Marlins, and other sports-related organizations.

Details

INFINEON 3Q/02

Infineon Technologies reported third quarter revenues of Euro 5.21
billion, a decrease of 8% from the previous fiscal year. The revenue
decrease resulted from the overall sluggish semiconductor market with
substantial pricing pressure in all business groups, especially memory
products. Annual EBIT (earnings before interest and taxes) was a loss of
Euro 1.14 billion, compared to a loss of Euro 1.02 billion in the previous
year mainly due to the ongoing price pressure in the industry and to
decreased demand in the communications and chip card ICs segments,
especially during the first half of the year. Revenues of the Security &
Chip Card ICs group were Euro 129 million, an increase of 8% from the
previous quarter. The continuing improvement of this segment has been
mainly driven by improved sales of security controllers used in mobile
communications, payment and identification applications. In 2001, Infineon
was the worldwide market leader in smart cards for the fourth consecutive
year and has improved its revenue market share to 39% according to Dataquest.

Details

Compete Study

Boston-based Compete Inc. says a new study shows that Capital One’s strategy of offering a “No-Hassle” card at an APR of 4 to 5 percentage points below competitors’ rates attracted applicants away from MBNA and Citibank. Compete says both MBNA and Citibank rely primarily on affinity and reward programs to attract new cardholders. The new Compete data showed that Capital One dominated competitors in attracting new credit card applicants, averaging over seven times the applicant volume of Citibank and MBNA. On average, 22% of MBNA’s applicants also considered Capital One, and one-third applied for a Capital One card. Similarly, 17% of Citibank’s applicants also considered Capital One, and one-fourth applied for a Capital One card. An average of 15% of MBNA’s and 24% of Citibank’s credit application abandoners (consumers who started but did not submit an application) evaluated Capital One, and one-eighth of abandoners from both companies ultimately applied for a Capital One card. Compete believes that the credit quality of applicants at Capital One was similar to those at Citibank and MBNA, since the demographic profiles of the defectors to Capital One from Citibank and MBNA were similar to the overall applicant pools for all three companies. In addition, the applicants’ behavioral profiles and use of other financial service products, such as brokerage and banking accounts, did not differ among the issuers.

Details

NCIPHER 3Q/02

nCipher plc reported that revenues were flat at £2.8m compared to Q2/02.
However, the operating loss was reduced from £2.4m to £1.7m because the
company maintained strong gross margins (79%) and reduced our operating
overheads. After interest the company reported a net loss of £0.7m and
consumed less than £0.1m of cash. nCipher provides hardware and software
solutions that enable organizations to implement best practice security by
addressing the challenges of cryptographic key management and performance.

Details

Cubic Houston

Cubic Transportation Systems has received an $8 million contract to provide Houston METRO with a smart card-based fare collection system for the city’s public buses. Cubic will upgrade Houston METRO’s fareboxes with smart card processors and provide “Point of Sale” devices throughout the transit system to allow customers to purchase and reload their fare cards. The system’s support network will be based on Cubic’s Nextfare platform, an open, non-proprietary architecture that conforms to industry standards. In addition to the Houston initiative, Cubic over the past 10 months has received contracts to provide smart card-enabled ticketing technology to transit providers in Baltimore, Los Angeles, Minneapolis, New York and San Diego.

Details

TRM 3Q/02

OR-based TRM Corporation reported net income of $182,000 for the third quarter compared to a net loss of $1.09 million for the same period in the prior year. Revenue for the third quarter grew to $21.7 million, an increase of $1.9 million from third quarter 2001. TRM says the increase is attributable to substantial growth across the Company’s ATM network that produced revenue of $7.5 million, up $2.2 million (or 41.9%) from the same period a year prior. TRM continues to experience multinational expansion in its ATM operation and remains among the largest independent ATM networks in the USA. For complete details on TRM’s 3Q/02 performance visit CardData ([www.carddata.com][1]).

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

Details