Barclaycard & Paysys

The largest credit card issuer in Europe has selected PaySys’ commercial card application for its business card division. Barclaycard will roll out the new system in two phases, with phase one scheduled to go live in November and phase two in fourth quarter 2001. Phase two will completely replace Barclaycard’s existing commercial card system and provide flexible hierarchies and billing options, multi-lingual/currency capabilities and the full integration of real-time posting and servicing. PaySys’ commercial card application is slated to be the first application in the marketplace built on PaySys’ ‘dBB’ software platform. ‘dBB’ is able to combine real-time transaction processing, unlimited hierarchies, in any language, currency and dialect, and independent of standards and operating.

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Wireless FDC

First Data Merchant Services announced Monday it has selected U.S. Wireless Data to offer wireless credit card transaction solutions to two million merchant locations. The USWD ‘Synapse’ solution, formerly known as ‘Wireless Express Payment Service’, provides a seamless interface among wireless POS terminals, wireless carriers, and credit card transaction processors. It will enable First Data to expand its wireless offering in the U.S. and to provide new regions with wireless solutions, such as Canada and the Caribbean. FDMS will offer the ‘Synapse’ solution across all distribution channels, including banks, ISOs, and other merchant acquirers. Through the arrangement with USWD, FDMS will also gain access to the CDPD and Motient networks. Motient owns and operates an integrated terrestrial/satellite data-only network and provides a wide range of two-way mobile and Internet communications services principally to B2B customers and enterprises.

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Kmart MasterCard

Capital One is hitting mailboxes across the country this week with solicitations for its new ‘Kmart MasterCard’. The card offers a 0% interest rate on all new Kmart purchases for six months. The APR for non-Kmart purchases and for Kmart purchases after the intro period is prime +10.3%. There is no annual fee for the new MasterCard. However accounts 30+ days past due will incur a $4 monthly membership fee. Cap One also imposes a punitive 25.9% APR on seriously delinquent accounts. The Wal-Mart MasterCard from Chase was launched in October 1996.

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Lacy – New Sears CEO

The board of directors of Sears, Roebuck and Co. elected Alan J. Lacy president and chief executive officer of the corporation, effective Oct. 1. Lacy also was elected a member of the board as of Oct. 1. He succeeds Arthur C. Martinez, who will continue as chairman of the board until his retirement in December, at which time Lacy also will become chairman.

Lacy, 46, currently is president, Services, responsible for the corporation’s credit services, home services, direct response and e-commerce businesses, comprising more than 45,000 Sears associates. He joined Sears in 1994 as senior vice president of finance and was named executive vice president and chief financial officer in 1995. In December 1997, he was named president, Sears Credit, and assumed his current position in September 1999.

“The board undertook a comprehensive review of internal and external candidates, and we are very pleased that an internal selection was the right choice. The review process confirmed the strength of Sears management team,” said Michael A. Miles, chairman of the board nominating committee that led the search process. “Alan’s impressive accomplishments, effective leadership and extensive first-hand knowledge of the company made him our clear choice.”

Commenting on Lacy’s accomplishments, Martinez said, “Alan has successfully tackled several difficult assignments in the past six years. He led the drive to strengthen Sears important credit business, and he is now leading a significant improvement in our home services businesses. In addition, his vision and talent as a strategist in the e-commerce business have quickly moved Sears into an industry-leading position. Sears has tremendous opportunities, and I am confident Alan will develop them.”

“Sears is one of America’s great institutions, and I am honored to be entrusted with its future,” said Lacy. “Few newly appointed CEOs step into positions where an organization’s strengths are as clear and its prospects as compelling as Sears. It’s both an advantage and a challenge.

“We all are grateful to Arthur for his dynamic leadership and integrity over the past eight years, during which the company successfully met many challenges. His personal commitment to Sears and confidence in Sears never wavered, leading to 1999 record net income of $1.47 billion.”

Sears, Roebuck and Co. is a leading U.S. retailer of home, apparel and automotive products and services. It serves families across the country through approximately 860 full-line department stores, more than 2,100 specialized retail outlets and a variety of online offerings accessible through the company’s Web site, [http://www.sears.com][1].

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

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Fargo Printers

MN-based Fargo Electronics yesterday unveiled a new series of professional printers, ‘Direct-To-Card’ printers and introduced the ‘Persona’ brand printers. Included in the ‘Professional Series’ are Fargo’s ‘HDP700 Series’, which utilize Fargo’s high definition printing technology; the ‘DTC700 Series’ and the new ‘DTC500 Series’ printers which offer ‘Direct-To-Card’ printing; and the ‘Pro-L’, Fargo’s laminating printer. The ‘Professional Series’ printers provide edge-to-edge card printing, electronic card encoding of proximity cards and smart cards, and four-line LCD panels. The ‘Direct-To-Card’ printers offers options such as dual card hoppers and increased security. The series includes single-sided printers: the ‘DTC510’ and the ‘DTC515’, and dual-sided printers: the ‘DTC520’ the ‘DTC525’. The ‘Persona’ brand card printers are priced below Fargo’s high-volume professional printers and include three color printers: the single-sided ‘C15’ and ‘C10’; and dual-sided ‘C25’. The ‘M10’ is the line’s monochrome resin printer offering.

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Tidel Rumor

Houston-based Tidel Technologies said this morning that the rumor concerning the loss of the company’s largest customer, Credit Card Center, is unfounded. The Credit Card Center also confirmed there is absolutely no truth to the rumor that it is eliminating Tidel from its product line. CCC says it expects orders for Tidel equipment for 3Q/00 will exceed its projections. Tidel Technologies is a manufacturer of ATMs and cash security equipment designed for specialty retail marketers. To date, Tidel has sold more than 25,000 retail ATMs and 110,000 retail cash controllers in the U.S. and 36 other countries.

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ComSense Grabs Weiner

“ComSense”, maker of the world s first reader-free Internet card, announced that Glenn Weiner has been appointed senior vice president of corporate strategy. Glenn Weiner has joined ComSense from American Express®, where he served as vice president, smart card technologies, and was a member of the technology leadership team that brought Blue” from American Express to market.

We are honored to have Glenn join our management team, said ComSense CEO Alon Atsmon. Few executives today could bring such current and directly relevant experience to ComSense. We will benefit from his counsel strategically, operationally, and commercially.

At AMEX, Glenn Weiner had responsibilities in the areas of technology strategy and partnering. He represented American Express s investments in smart card, interactive, and wireless technologies before industry and regulators. Glenn previously sat on the Board of Directors of leading smart card industry organizations including Global Platform, as well as serving as the chairman of the board of directors of the Interoperability Consortium. Glenn has over 15 years experience as a business executive and international and commercial lawyer, including as President of Arbor Export Finance LLC, an export finance provider with $10 million in capital that made U.S. government guaranteed export financing available to small and mid-sized exporters.

About ComSense

ComSense” is the maker of Comdot” — the world’s first reader-free Internet card technology. ComSense card-based products create value for card issuers and on-line services through their unique user authentication and loyalty functionality. For end users, ComSense cards introduce unprecedented ease and security to online shopping, banking, and Internet and communications services. Founded in mid-1998, ComSense Technologies has its research and development office at its international headquarters in Tel Aviv, Israel. Its U.S. headquarters office is in New York City and its manufacturing office is in San Jose, California. For additional information please visit our Web site: [www.com-sense.com][1].

[1]: http://www.com-sense.com

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PAIDCard Launched

PAIDCard.net Inc. (Prepaid Anonymous Internet Debit Card) Monday announced the official launch of its stored value card and back end processing system to the merchant community at the InterActive 2000 Show, to be held at the Ernest N. Morial Convention Center in New Orleans, on Sept. 22-24, 2000.

PAIDCard staffers will be located in booth 446 at the show, where they will answer questions and demonstrate the innovative PAIDCard system. PAIDCard’s goal is to aggressively market and distribute a safe, secure, and easy to use solution for online purchasing that will benefit both the consumer and the e-commerce merchant.

“The IA 2000 show will allow us to market our product to a broad audience of potential merchants and to educate the public about the benefits of using our card for purchases over the Internet,” said Gretchen Bender, president of PAIDCard.net Inc.

About PAIDCard.net

PAIDCard.net Inc. is a banking services company currently functioning as a sales agent office. The company is in the process of finalizing contracts to become a registered independent sales organization/merchant service provider. Through their relationships with various banking institutions and with third party processors, the company is able to utilize the Federal Reserve’s Automated Clearing House (ACH) system to deposit and collect funds electronically. Given these capabilities, the company has introduced its own private label stored value card known as PAIDCard (Prepaid Anonymous Internet Debit Card).

The PAIDCard advantage is its ability to alleviate the burden of chargebacks from online merchants, while providing anonymity to the consumer. Fraud is substantially reduced with this method of payment, thus greatly lowering merchant fees and driving added, unexpected revenue to participating e-commerce sites.

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EFTA EBT Council

The Electronic Funds Transfer Association, a leading trade association for the electronic payments and commerce industry, announced the new officers for its EBT Industry Council.

The Council officers for 2001 are:

— Chairman: Bob Bucceri, president, Chaddsford Planning Associates.

— First Vice Chairman & Chairman Elect: John Pfeuffer, vice president, Citicorp Services, Inc.

— Second Vice Chairman: Jane Rice, senior product manager, Vital Processing Services.

— Secretary: Louise Meyer, senior account representative, VeriFone, Inc.

EBT, or electronic benefits transfer, is the use of bankcard technology to deliver government payments or benefits. “I look forward to working with Bob and the entire Executive Committee,” said H. Kurt Helwig, executive director of EFTA. “They are experienced professionals whose background covers all aspects of the EBT industry.” There are challenges facing the EBT industry “that are not new to electronic funds transfer,” added Bucceri, “but are new to our segment. I look forward to working with my colleagues to meet those challenges.”

About the EBT Industry Council

The EBT Industry Council is the nation’s oldest trade group dedicated to the business and policy issues of Electronic Benefits Transfer. Since the early 1990s Council members have worked with federal and state government to resolve a variety of bottom-line EBT challenges, including consumer, political, and technical issues. EBT Industry Council members include processors, financial institutions, ATM networks, technology companies, and manufacturers.

About the Electronic Funds Transfer Association

The Electronic Funds Transfer Association is an inter-industry trade association dedicated to the advancement of electronic payments and commerce. In nearly a quarter-century of industry leadership, it has been in the vanguard on many key issues facing the industry. These have included the Electronic Funds Transfer Act, the Americans with Disabilities Act, consumer protection for electronic payments, privacy, and security.

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Home Accounts Nabs Pieper

Home Account, the leading provider of Internet-based financial service solutions,announced the appointment of William H. Pieper as Senior Vice President of Sales and Marketing.

In making the announcement, Home Account president and CEO Charles A. White pointed to Pieper’s strong background in Home Account’s target markets, emphasizing that the executive will be instrumental in formulating new strategies for the company’s efforts to dominate those markets.

“Bill Pieper’s professional experience is the ideal fit for our strategic initiatives,” White said. “His strengths in entrepreneurial and emerging growth, business development, managing high-growth strategic business units within large international organizations, and developing business services that utilize current technology to deliver solutions are significant advantages in our current plan and will strengthen our future direction.”

Prior to joining Home Account, Pieper was Senior Vice President of Sales for First Data Solutions (NYSE: FDC) in Omaha, Nebraska, the leading provider of Internet and online business and consumer information management solutions to the financial industry. In that position, he built and developed a powerful sales force, restructured and re-engineered the organization for maximum market potential and revenue increase, and developed alternative industry sales channels and enhanced solutions offerings by forming strategic alliances with the leading providers in the vertical industries served by the organization.

Previously, Pieper held key positions at SITEL Corporation (NYSE: SWW) in Omaha, including Senior Vice President of Sales, Chief Marketing Officer, and Senior Vice President of Global Business Development. Before that, he was Senior Vice President of Sales and Marketing at ITI Marketing Services, now APAC Customer Services (NASDAQ: APAC) in Omaha, and Division Vice President of National Account Sales at Automatic Data Processing (NYSE: AUD) in Roseland, New Jersey.

Pieper holds a BS in business administration from the University of Delaware.

About Home Account

HomeAccount, based in Emeryville, Calif., delivers patent protected Internet banking, financial management, and electronic commerce solutions to financial services organizations and their customers. Home Account’s Canopy Suite of online banking products also includes borrowing, brokerage, advice and investing services within a revenue-generating financial center. The company also provides internet-based cash management solutions and CardSolutions(tm), an innovative program for credit card issuers that enables Internet account management. HomeAccount’s OFX (Open Financial Exchange) financial services platform allows access by personal finance management software packages such as Quicken ™ and Microsoft ™ Money. For additional information, please go to [http://www.homeaccount.com][1].

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

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