Diebold has named Christopher Connor, chairman and CEO of The Sherwin-Williams Company, to its Board of Directors. Diebold, Incorporated is a global leader in providing integrated self-service delivery systems and services. Diebold employs more than 13,000 associates with representation in more than 88 countries worldwide.Details
After being tied-up in appeals for three years, Gemplus has reportedly been ordered to pay damages to a small California firm. In February 1999, a federal court jury in San Diego awarded $17.5 million in damages to Humetrix, Inc. in a breach of contract and breach of partnership action against Gemplus, S.C.A.. The jury ruled that Gemplus’ actions caused a $15 million loss in potential profits for Humetrix. The jury also awarded $2.5 million in additional damages. The French newspaper Les Echos reported the appeals process has ended. The dispute centered over a 1995 agreement in which Gemplus agreed to a five-year contract designating Humetrix as a reseller of health-care applications of Gemplus smart card products in the U.S.. The contract also provided Humetrix with royalties for 10 years. Humetrix was in the process of developing ‘VaccicardT’, a smart card to track immunization records for infants, in the U.S., as well as other health care applications, when Gemplus allegedly breached its contract and partnership with Humetrix. Humetrix also filed a claim seeking priority trademark rights over the trademark “VaccicardT.” The jury awarded Humetrix with ownership of the trademark, but Humetrix made no claim of monetary damages on that count.Details
Digital Insight reported this morning that 145 financial institutions have been migrated to its data center in California as part of DI’s acquisition of Virtual Financial Services. The conversion was planned as part of the acquisition of Virtual Financial Services, Inc., a privately owned eFinance company that was based in Indianapolis.Details
JCB reported that the total number of JCB-brand EMV IC cards issued in Japan since December 2001 exceeded 3 million in July. By the end of March 2003, JCB expects to have issued more than 10 million
smart cards, meaning JCB smart cardholders will make up 20% of all JCB members. JCB plans for EMV-based JCB IC migration to be complete by the end of 2006. Equipped with the JCB EMV credit payment application “J/Smart,” JCB’s smart card issuing to cardholders in Japan was launched commercially after undergoing successful pilot projects, including the Postal Savings project in Omiya City, near Tokyo, and the Electronic Toll Collection systems for highways in Japan. JCB has a merchant network which includes 9.28 million merchants and spans 189 countries and territories, and serves 40 million card members worldwide.
Oasis Technology announced the availability of a new multi-currency solution allowing merchant acquirers and processors to better manage and track merchant revenues and merchant payments. The new product, IST/Merchant Accounting System, provides merchant acquirers and processors with a comprehensive solution for processing merchant credit and debit transactions that require payment and settlement.
MAS gives acquirers and processors the flexibility to manage an unlimited number of merchant business models with highly specific service requirements and processing fee relationships. In addition to financial processing charges for sales, authorizations and charge-backs, MAS provides the flexibility to price transactions according to non-financial services such as point-of-sale terminal rentals, as well as seasonal fees and discount rates. The flexibility of tiered transaction pricing also lets processors price transactions according to volume, and increase or decrease service charges in accordance with volume fluctuations. To facilitate revenue tracking, MAS also interfaces to general ledger systems so merchants can better track revenue and accounting processes. To provide flexible support for a wide range of payment methods, MAS supports ACH and FEDWIRE.
The Royal Bank of Scotland released a survey that shows friendships as the most important thing in life (95-97%) even beating love (85-87%), and coming way ahead of money. On money and banks, 43% of the youngsters surveyed said they liked saving and 85% didn’t like the idea of debt though 45% admitted that they sometimes spent money without thinking. More than half (51%) of university students said that credit cards allowed them to buy things they otherwise couldn’t afford and 26% found they made shopping easier but a massive 74% thought that they could lead to unwanted debt.Details
NC-based HLM Design has named Jerry Craft, president and CEO of InfiCorp Holding, to its Board of Directors. Firms managed by HLM Design, Inc. provide architecture, engineering, and planning services that enhance the lives of those who use the facilities they design while contributing to the success of their client’s businesses.Details
TSYS has signed a 10-year outsourcing agreement with CIBC to process more than five million VISA accounts. In an earlier agreement, TSYS announced in January that it would process the new “entourage” line of American Express products for CIBC, including Canada’s first nationwide smart card. TSYS has supported other CIBC card products since 1994. CIBC, based in Toronto, Ontario, is Canada’s largest
card issuer based on charge volume. Adding CIBC’s VISA portfolio will increase TSYS market share in Canada from 38% to 51.7%. International accounts under management at TSYS increased 25.4% in
the second quarter, versus one year ago.
VeriFone announced this morning it has hired a legion of sales and marketing resources to get closer to ISOs and merchant sales representatives in the U.S. electronic payments market. The Financial Market Solutions Support organization supplements the efforts of VeriFone strategic account representatives by working directly with processors, acquirers and ISO organizations to provide field-level product training and sales support. The field force is chartered with creating an ISO awareness channel and generating demand from the grass-roots level of the industry.Details
Following its merger with HNC Software, Fair, Isaac yesterday announced a new management team. Chad Becker, VP/Strategy Machines – Lifecycle Solutions, will oversee credit scoring and “Strategy Machine” application solutions. Michael Chiappetta has been named VP/Strategy Machines – Fraud Analytics and will lead operations for the combined company’s risk-related analytic products. Sean Downs will serve as VP/Healthcare and Insurance Risk Solutions. Larry Rosenberger, VP/R&D Analytics, will serve as acting head of the company’s Analytic Software Tools unit, which is responsible for selling analytic solutions at the enterprise level across industries. Steve Sjoblad, VP/Consumer Solutions, will continue to direct Fair, Isaac’s consumer-focused initiatives, specifically the growth of the company’s MyFico.com consumer credit empowerment programs. Ken Saunders has also been named CFO. Saunders joined HNC in January 1997 as treasurer and executive director of legal affairs, quickly ascending to VP and Corporate Controller before becoming CFO.Details
FleetBoston announced the introduction of 100 new Advanced ATMs for the New York Metro market which feature: preset instructions in seven languages and voice guidance technology for the visually impaired. New voice guidance technology allows visually impaired customers to receive private audio instructions easily navigating them through their transactions by plugging standard earphones into the ATM’s universal audio jack. Fleet will supply earphones upon request for those customers who do not have them readily available by contacting Fleet’s Customer Call Center.Details