OASIS IST/MAS

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.

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MONEY & FAMILY

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.

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TSYS & CIBC

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.

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VeriFone & ISOs

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.

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Fair Isaac Management

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.

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Fleet Advanced ATMs

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.

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Hypercom & Concord

Concord EFS has awarded Hypercom a deal valued at an estimated $13 million. Concord will deploy Hypercom card payment terminals and peripherals, including the “ICE 5700” with integrated motorized check reader, along with Hypercom’s value-added electronic signature and receipt capture, and “ICE-PAC” on-screen/receipt advertising Web-based services. The “ICE 5700” with integrated motorized check reader serves as the platform for Concord’s proprietary STAR Universal Terminal, which integrates credit, debit, electronic benefits transfer, check conversion and warranty services, and IDLogix age verification.

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OPEN Delta Card

OPEN: The Small Business Network from American Express and Delta Air Lines have launched the “Platinum Delta SkyMiles Business Credit Card.” The co-branded airline card offers small business owners a free companion certificate each year upon renewal and 10,000 bonus miles plus 5,000 bonus base miles. Ten thousand base miles will also be awarded to cardholders every year their annual card spending reaches $25,000 or more in purchases. There is no limit to the number of miles earned in a calendar year. Cardmembers also earn two miles for every eligible dollar charged to the card for purchases at supermarkets, gas stations, drugstores, home improvement stores, the U.S. Postal Service, wireless phone bills and Delta Air Lines. The new program also features “OPEN Small Business Network” benefits such as negotiated savings on everyday business expenses from Dell, ExxonMobil, FedEx, Hertz and The Hilton Family of Hotels. The Platinum Delta SkyMiles Business Credit Card has an annual fee of $135. For cardholders who already have a charge card from OPEN: The Small Business Network from American Express, the annual fee is $80. The interest rate for purchases is prime plus 9.99%.

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CSI Debit Cards

KY-based Computer Services has expanded its line of card services to include a debit MasterCard. PULSE EFT Association, a principal member of MasterCard, will sponsor CSI customers into the MasterCard network. CSI customers with a three-fold benefit: they will earn income each time the debit MasterCard is used for point-of-sale purchases; they can take advantage of CSI quantity discounts on “Distinctive MasterCard Standard Plastics”; and they can expand the line of convenience products they offer to their customers. Computer Services is one of the top five bank processing companies in the nation.

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InteliData 2Q/02

VA-based InteliData Technologies reported that revenue for the second quarter was $5.5 million, an increase of 25% over the $4.4 million reported for the second quarter 2001. Gross profit for the quarter totaled $3.4 million compared to $2.2 million for 2Q/01. During the quarter, the company expanded its Wachovia relationship to include licensing of Interpose Web Banking user interface for bill payment capabilities and upgraded BB&T, which licensed the latest version of InteliData’s Internet banking and electronic bill payment platform, Interpose 5.0. The Company also provided third quarter guidance with revenues targeted between $6.0 – $6.5 million. For complete details on InteliData’s 2Q/02 performance visit CardData ([www.carddata.com][1]).

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

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