Houston-based PULSE EFT Association has introduced “PULSE Online” which can turn a financial institution’s Web site into a valuable tool to help meet the needs of its customers while creating opportunities for new revenues. “PULSE Online” is powered by eCommLink, a Houston-based payments company, and features a software hub that enables financial institutions to choose the services they want from a broad menu of selections. In addition to retail and commercial banking packages which include bill payment, “PULSE Online” also offers optional services including brokerage, check and statement image integration, credit card account data presentation, wireless banking, loan origination and Web site design. The PULSE network has 101,000 ATMs and more than 430,000 “PULSE PAY” POS merchant locations.Details
FL-based iBill and Yaga have teamed to provide Web merchants with access to payment services including profitability reports, conversion statistics, and popular download information. Merchants using iBill’s services receive an outsourced solution in which iBill handles all payment processing, risk management, affiliate management and payment-related customer service. In addition, iBill’s payment options allow merchants to complete credit card, online checking, and telephone billing transactions.Details
China UnionPay has awarded Hypercom a multi-million dollar contract to provide electronic payment networking equipment for China’s largest unified domestic payments network. By the year 2005, Hypercom’s system will allow more than 400 million bank cardholders in 100 cities to use their cards at any payment terminal in China. By the end of this year, Hypercom’s network system will enable cross-city and cross-bank
transactions in 40 major cities. Under the terms of the agreement, Hypercom will initially provide Network Access Controllers and network management systems for 100 of China’s largest markets to build up
the payment network, including Beijing, Shanghai, Guangzhou, Hangzhou and Shenzhen. The Hypercom network equipment will be used to transmit millions of data packets between China UnionPay’s host
computer, banks, and card payment terminals.
Visible Results USA said Wednesday that NJ-based Swanson True Value Hardware Supply’s rewards loyalty program, launched in late July, is delivering an average spend per transaction for consumer members, 25% higher than non-members. Program participants earn points for shopping in any of Swansonâs five business units general hardware, communications, equipment rental, equipment repair and industrial supplies.Details
China UnionPay has awarded Hypercom a multi-million dollar contract to provide electronic payment networking equipment for China’s largest unified domestic payments network. By the year 2005, Hypercom’s system will allow more than 400 million bank cardholders in 100 cities to use their cards at any payment terminal in China. By the end of this year, Hypercom’s network system will enable cross-city and cross-bank transactions in 40 major cities. According to The RAM Report ([www.ramreport.com]), Hypercom will initially provide Network Access Controllers and network management systems for 100 of China’s largest markets to build up the payment network, including Beijing, Shanghai, Guangzhou, Hangzhou and Shenzhen. The Hypercom network equipment will be used to transmit millions of data packets between China UnionPay’s host computer, banks, and card payment terminals.
VeriSign has inked a deal with MasterCard to implement and offer access to MasterCard’s “Universal Cardholder Authentication Field” program to up to 75,000 merchants. VeriSign processes approximately 25% of all online transactions in the USA. VeriSign says its merchants will benefit from an upcoming MasterCard rule change that shifts liability for fraudulent transactions not authorized by the cardholder away from the online merchant and its acquirer when UCAF has been utilized. Historically, if an online merchant shipped goods for a transaction that turned out to be fraudulent due to the cardholder claiming he or she did not authorize the transaction, the merchant ultimately bore the costs. With “UCAF,” online merchants will benefit from a payment guarantee that is equivalent to a signed sales receipt in the physical world when participating issuers authenticate their cardholders and authorize the transaction.Details
Euronet’s UK operation now offers VISA and MasterCard acceptance on Euronet ATMs for cash withdrawals and credit card cash advances. Citibank International, plc is sponsoring Euronet in the UK initiative. Euronet is currently partnered with Citishare and Citibank in six countries, including the ATM outsourcing program for Citibank Greece. Euronet says the UK expansion has already increased ATM transactions by 3%. Citibank’s UK customers can now access over 740 ATM’s nationwide with their VISA or MasterCard and pay no surcharge. As of June 30th, Euronet owned and/or operated a total of 2,840 ATMs compared to 2,548 ATMs on March 31st. The compnay owns and/or operates ATMs in Hungary, Poland, Germany, Croatia, the Czech Republic, the U.K., Greece and Egypt.Details
VISA Canada is sponsoring the “Vancouver International Film Festival” for the fifth year. As part of the 16-day event, which gets underway this weekend, VISA unveiled the “VISA Screening Room Pass.” For CN$68, passes will be exchanged for ten tickets to any screening at the screening room, excluding galas. “VISA Gold” and “VISA Platinum” cardholders will also be able to purchase special packages including a “VISA Gold Pass” and three exclusive gala packages. The “VISA Screening Room” will be held at the historic 1,000-seat Vogue Theatre located on Granville Street in Vancouver, according to The RAM Report ([www.ramreport.com]).
Catuity Inc. has been issued a patent for the operation of multi-application systems interactively across a range of acceptance terminals using a card. The patent has been issued in Australia (No 746867) and applications are pending in most other major markets including the US and Europe. This is Catuity’s second successful multi-application system patent. Earlier this year Catuity received notice of acceptance for its first patent in the US, and that patent is expected to also be granted in Australia and other markets. Essentially the new patent covers applications and programs operating between in-store POS devices, mobile devices, personal computers, kiosks, host systems and/or the internet using a single card or other consumer device.Details
TN-based Concord EFS this morning announced that Edward Labry, Concord president, would succeed chairman and CEO Dan Palmer as CEO in May 2003. Palmer will continue as a member of the executive management group, chairman of Concord’s board of directors, and chairman of EFS National Bank, a wholly owned bank subsidiary. Labry joined Concord in 1985. Palmer founded EFS, Inc., in 1982 as a division of Union Planters Bank in Memphis. Concord EFS also announced this morning that in full-year 2002 it expects to realize revenue growth of 26% to 28% and diluted earnings per share growth of 16% to 20%. Based on currently available information, the company expects annual diluted earnings per share growth to improve to a range of 24% to 26% in 2003. For complete details on Concord EFS latest performance visit CardData ([www.carddata.com]).