Providian Financial has named Francesca Ruiz de Luzuriaga, formerly with Mattel, and Jane Truelove, formerly with FMR, to its Board of Directors. San Francisco-based Providian Financial is a leading provider of credit cards and deposit products to customers throughout the U.S.Details
Student Advantage reported a third quarter loss of $3.3 million on revenue of $20.1 million, compared to a $6.3 million loss on revenues of $22.9 million for 3Q/01. Student Advantage, Inc. (Nasdaq: STAD) is a leading integrated media and commerce company focused on the higher education market. Student Advantage works with more than 1,000 colleges, universities and campus organizations, and more than 15,000 merchant locations to develop products and services that enable students to make purchases less expensively and more conveniently on and around campus.Details
Wincor Nixdorf announced that Posera Corporation has certified its hospitality software running Microsoft Windows “XP Embedded” on the BEETLE /iPOS system. Posera offers a complete series of integrated software solutions to streamline restaurant management, be it a small eatery or a multi-national corporation.Details
NCR Corporation reported third quarter revenue of $1.38 billion, a decrease of 5% versus the prior-year period. ATM revenue decreased 3% and retail store automation solution revenue declined 13%. Net income for the third quarter was $41 million compared to a net loss of $6 million for 3Q/01. Excluding goodwill amortization and special items, third-quarter 2001 net income and earnings per diluted share would have been $40 million. Payment and Imaging revenue was down 22% in the third quarter of 2002, but flat year-over-year excluding the item-processing outsourcing business sold in the fourth quarter of 2001. Growth in imaging solutions offset the declines in core item processing due to check volume reduction. For the fourth quarter, revenue for NCR is expected to be down 0-5% compared to the fourth quarter of 2001. By solution, Data Warehousing and Retail Store Automation revenues are expected to increase approximately 5-10%, while ATM revenue is expected to be roughly flat. Systemedia is expected to be up 0-5% while Payment and Imaging and Other will be down approximately 10% and 30%, respectively. NCR expects operating income in the fourth quarter to be approximately $100-$115 million. For more details on NCR’s third quarter performance visit CardData ([www.carddata.com]).
Twenty-two gaming properties have signed contracts to use Global Cash Access’ “Casino Cash Plus 3-in-1” ATM. The Casino Cash Plus 3-in-1 ATM eliminates such denials with a patented roll-over feature, which gives patrons the option of obtaining funds via a point of service (POS) debit transaction or a pinless credit card cash advance.Details
MA-based mbi reported this week it has topped 150,000 cardholders for its healthcare MasterCard debit cards. The mbi “Flex Convenience Card” enables employees using FSAs and HRAs to pay for eligible healthcare expenses wherever MasterCard is accepted. mbi currently has more than 160 TPA customers and over 1,900 employer groups. Some of the employers using the technology include PacifiCare, Ruby Tuesdays, MasterCard, and the Arizona Diamondbacks. Based on orders from TPAs and employers, mbi projects approximately 225,000 cardholders by the end of January.Details
Oberthur Card Systems reported third quarter revenue of 103.3
million euros, 7% decline from 3Q/01. Oberthur says the slowdown in smart
cards reversed itself during the third quarter as the company experienced a
13.6% increase over second quarter thanks to business in France and the
United Kingdom. Oberthur says sales of magnetic stripe cards have
stabilized. The decline of 4.3 million euros in sales compared with 3Q/01
is mainly due to the divestment from the memory card business in the USA.
Oberthur says the roll out of EMV microprocessor cards has reached a new
phase in the UKwith the introduction of the PIN@POS technology that enables
retailers to use microprocessor cards with a PIN code at their POS
terminals. With a 58% sequential growth and the recent announcement of a 3
three-year contract with Barclaycard, Oberthur says it is in a strong
position. Oberthur expects its level of sales on a full year basis to be in
the range of 435 to 450 million euros.
A Cleveland-based manufacturer of LCDs has been issued a patent which allows instant cash incentives to be given to smart card customers at the POS. Viztec received the “Chip Card Rebate System” patent which broadly covers electronic cash rebates loaded onto smart cards in conjunction with advertisements and sales promotions (including coupons). Viztec says it also has patents covering smart cards with flexible displays, as well as the downloading of advertisements and coupons to smart cards with flexible displays. Viztec is currently commercializing its flexible LCD technology for use in smart cards, as well as other consumer and industrial products. Contrast ratios of Viztec’s current displays for smart cards are approximately 200:1. Viztec currently does not intend to manufacture smart cards, but is instead offering the technology covered in its smart card patents under a license agreement with qualified partners.Details
BOC Credit Card (International) Ltd. has signed with EDS Greater China to
migrate BOCI’s credit card operations to a comprehensive and IT system with
credit processing modules on a mainframe platform.
EDS will provide IT services for the migration of the existing legacy
systems supporting BOCI’s credit card operations in the Mainland of China
and Hong Kong and Macau SARs. EDS will also provide trainer training for
selected BOCI staff, data conversion for more than one million credit card
accounts and system implementation for the project. This project is the
second phase of the global upgrading program for BOCI. EDS has already
implemented the same system for BOCI’s operations in Australia and Singapore.
A consumer loyalty card created to help raise funds for breast cancer research will be launched next week. Consumers will be able to purchase “The Cure Card” for $25 of which 50% is automatically donated to The Breast Cancer Research Foundation. Cure Card holders receive discounts on purchases each time they use their Card at participating retailers through October 31, 2003. In turn, the retailer will make a donation back to BCRF each time “The Cure Card” is shown at time of purchase. The national retail partners for its launch include Adrienne Vittadini, Carolee, Casual Corner, Petite Sophisticate, August Max Woman and Casual Corner Annex. The Cure Card is expected to be available in over 1,000 stores nationwide.Details
The Hong Kong smart identity card system is employing ACI Worldwide and
its “Smart Chip Manager.” The “SMARTICS” contract was recently awarded to a
consortium of companies, of which ACI is a key member, led by PCCW Business
eSolutions. The ACI “Smart Chip Manager” is an integrated software
application that controls the lifecycle of smart cards and the applications
that reside on them. Under the terms of the contract, the consortium
directed by PCCW’s eSolutions business unit will provide 1.2 million smart
cards to the Immigration Department of the Government of the Hong Kong
Special Administrative Region. ACI’s chip card technologies support more
than 20 million multi-application cards on different operating systems and
smart card platforms worldwide.