GPN 3Q/02

Atlanta-based Global Payments reported that revenue for the quarter ending August 31st grew 15% to $127.7 million compared to $111.0 million in the prior year. Operating income was up 11% from $22.7 million one year ago to $25.3 million. The company said it was pleased with the performance from its ISO and direct channels, as it is signing a record number of new merchants in the U.S. and Canada. Also GPN says its average ticket and spread hold steady due to its diversified merchant portfolio. As a result, GPN reaffirmed its revenue guidance of $495 million to $514 million for fiscal 2003. For complete details on GPN’s latest performance visit CardData ().

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VISA ISO 14443

VISA International has developed a new global payment specification to facilitate contactless payments via smart cards or other electronic devices. This is the first time that ‘contactless’ payment chip technology has been applied to general-purpose payment cards. Based on an international standard, ISO 14443, the new specification uses a chip embedded in a plastic card or an electronic device, such as a mobile phone which is then held in front of a terminal and a wireless interface to transmit the payment information. The first use of this new specification is expected to be in South Korea with SK Telecom. VISA and SK Telecom are already working together to test the viability of infrared payment for mobile phone users. Prior to VISA’s announcement, the most common use for the technology has been in transit systems, particularly in Europe and Asia. The new specification will allow for its use for everyday payments should VISA member banks and merchants wish to introduce it. Vendors working with VISA on the use of new specification include Cybernet, Ingenico, Philips Semiconductors, SchlumbergerSema, and Smart Card Systems.

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InfoSpace Authorize.net

InfoSpace’s Authorize.net has inked a deal with University of California to be the “preferred” provider to enable the processing of credit card transactions online. The Authorize.Net payment processing platform was also selected by New York Times Digital to facilitate the processing of certain credit card transactions online. Authorize.Net has more than 1,200 resellers and is offered as an IP-based payment platform to both financial institutions and merchant service providers, enabling them to offer payments services under their own brands. The service also has more than 170,000 merchant account sign-ups.

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BNA & PAYMENTECH

Toronto-based BNA Smart Payment Systems is now certified to process credit and debit transaction through Dallas-based processor Paymentech. The BNA application runs on a Banksys “C-ZAM/SMASH” terminal, which has an integrated pin pad for the secure debit transactions, is certified for the retail industry. The certification is unique in that the application was developed in standard Java language. Most payment applications are developed in either proprietary or older languages. Also noteworthy, the application runs on a Banksys terminal, which features more current technology than the “gray box” Ethernet communications cards, WAP browser for Internet access and smart card compliance features like EMV. The terminal and application reads standard ABA magnetic stripe cards and ISO standard smart cards.

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Magic Evolution

SchlumbergerSema this week rolled out its “MagIC Evolution” POS terminals which extend the “MagIC” to support future e-payment programs. A dedicated e-payment application specific integrated circuit supports complex smart card-fuelled transactions, while up to 8MB of memory with firewall hardware ensures that payment and value-added service applications can co-exist securely. The “MagIC Evolution” platform includes the compact and mobile “MagIC X1000.” The new line also includes a GSM/GPRS version; the countertop “MagIC 6100” terminal with external PINPad; and the new compact, countertop “MagIC 5100” terminal with integrated PINPad. SchlumbergerSema has an installed base of 600,000 “MagIC” terminals worldwide. To date, SchlumbergerSema “MagIC POS” terminals are certified by FDMS Nashville, Vital Processing, NOVA, Paymentech, GPS MAPP, GPS NDC and FDR Omaha.

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Experian, ConsumerInfo.com, + Trilegiant

Experian and ConsumerInfo.com have signed a multi-year deal to provide online, direct-to-consumer credit-related products for use in Trilegiant’s “PrivacyGuard” branded credit protection service. Trilegiant s PrivacyGuard® currently provides paper-based credit-monitoring services to more than 5 million of its members through relationships with leading financial institutions and retailers.

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VT PAYMENT SOLUTION

Comstar Interactive has introduced the “VT PAYMENT SOLUTION” an Internet-based credit card processing service which gives customers the ability to set up recurring payments and auto charges that can be processed on a daily, weekly, biweekly, monthly or annual basis, perform batch processing for retail and e-commerce orders, and conduct pre-sale authorizations. A browser-based interface that allows customers to use a desktop computer Windows or Mac compatible for such credit card functions such as processing, authorizations, credits, returns, status and compilation of transaction data via the Web.

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MasterCard E-B2B

MasterCard is introducing an eB2B payment and transaction settlement solution which integrates MasterCard’s corporate payment solutions into the Xign “Payment Services Network.” The new payment platform will support a varied choice of card and non-card settlement options. The “XPSN” platform will allow the buyer to determine when to initiate electronic payment. The buyer will also have the capability to defer settlement of the payment based on pre-established rules and to pay using a MasterCard “Corporate Purchasing Card” or via a non-card option such as MasterCard “RPPS” or ACH. The MasterCard/Xign solution has been built to support accounts payable/accounts receivable systems for most of the common proprietary systems, including Oracle, PeopleSoft, SAP, J.D. Edwards, Microsoft Great Plains, GEAC, AMS, Lawson, Peachtree, QuickBooks and others. The XPSN platform will fully integrate MasterCard settlement options, and will provide MasterCard member financial institutions with a patent-pending solution. Benefits include: increased management controls by way of buyer-approved payments and scheduled/deferred payments; provision of Level III data; ERP/procurement integration; ability to incorporate validation/exception rules; low cost proposition to buyers’ suppliers to maximize supplier adoption; and, improved cash forecasting. MasterCard is targeting the nearly 30 billion paper checks manually written and sent by businesses in the USA annually with the new solution.

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Starbucks Card

Starbucks has added an automatic reload feature to its prepaid store card and has launched a promotion with VISA. The automatic reload enables customers to set a minimum balance threshold and when the account falls below the threshold, it is automatically replenished through the customer’s designated credit or debit card. Reloads can be made in any amount between $20 and $100 and can be setup online. In conjunction with the new feature, Starbucks is also launching the “Get an Extra Shot from Visa” contest. Between now and November 11th, VISA will randomly select five individuals who have signed up for the automatic reload option using their Visa card. The selected customers will receive a match of their first reload amount loaded onto their Starbucks Card. The Starbucks stored value card was introduced last November and to-date has activated nearly five million cards. Starbucks previously reported that it issued 2.3 million cards within the first six weeks of launch. Between Thanksgiving and year end 2001, customers loaded a total value of $32 million onto the new card and redeemed $9 million in 2.2 million transactions. (CF Library 1/25/02; 4/18/02; 7/10/02)

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AFD Renews AAMS

ABN AMRO Merchant Services, jointly owned by ABN AMRO North America and National Processing, have renewed a credit, debit and EBT card processing agreement with the Associated Food Dealers of Michigan. AFD provides information on state legislation, as well as “voicing” retailers’ concerns, and through its size has negotiated discounts on products and services that members would not be able to negotiate on their own.

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WIREFREE CABBIES

London-based SilverCab Services has formally launched mobile credit card payment terminals for London taxi drivers. The terminals, which run over the Orange network, have already been tested in 85 black cabs. SilverCab plans to install 5,000 units over the next 12 months. Of the 24,000 licensed taxi drivers in London, it is estimated that less than 20% currently accept any type of credit card payment. This terminal is provided free of charge to taxi drivers.cSilverCab says in the future the device could double as a mobile phone in order to obtain pick-up orders from taxi call centers.

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