VISA’s ‘Tribute to Style’ promotion climaxed Friday afternoon with the naming of the grand prize winner by Mr. Blackwell, renowned author of the ‘Best and Worst Dressed List’. Susan Swanson, a lawyer from Portland, OR, was awarded a $25,000 shopping spree on Rodeo Drive. The grand prize winner also received two tickets to last night’s Screen Actors Guild awards show, a VIP tour of Sony Pictures Studios and personal wardrobe consultations by Mr. Blackwell and fashion expert Patty Fox. Twenty-five first prize winners received a $5,000 Rodeo Drive shopping spree. VISA launched the promotion last September.Details
The National Hockey League’s newest expansion team, the Minnesota Wild, and First USA, launched a new MasterCard Friday night during the Minnesota State Boy’s High School Hockey Tournament. The Minnesota Wild will begin play in the NHL in the 2000-2001 season. ‘The Minnesota Wild MasterCard’ offers approved applicants a free team T-shirt. Card pricing 4.9% five-month intro APR, thereafter 13.99% fixed APR and no-annual-fee. MasterCard is the official corporate sponsor of the NHL and First USA also issues affinity cards for six other NHL teams.Details
Multimedia Resources, an interactive media consulting and marketing agency, announced last week that an online promotion that the agency created won a bronze Reggie award at this year’s Reggie ’98 Awards competition. The award was presented here at Update ’98, a promotions marketing conference hosted by the Promotion Marketing Association (PMA). Multimedia Resources was presented a bronze award in the Interactive Promotion category for creating MasterCard’s “Future of Money” promotion on the Internet.
The objective of Multimedia Resources’ campaign for MasterCard was to begin to establish MasterCard as a leader in electronic commerce on the Web among consumers and merchants. The promotion was launched during the 4th quarter of 1997 when shopping patterns are at their peak. Multimedia Resources focused on building awareness on the Internet of MasterCard’s brand position, “The Future of Money.”
The PMA Reggie competition identifies and honors the best marketing promotion programs of the year. The competition features ten categories of awards, which are based on a broad range of promotion types and budgets.
“This award recognizes that the category of interactive promotion has become a powerful, if not indispensable, tool in today’s overall marketing landscape,” said Lynn Branigan, co-founder of Multimedia Resources. “MMR worked to incorporate all the essential elements of a winning interactive campaign into this promotion. This includes brand building, consumer communications, and a value-added service in Shop Smart! that MasterCard can expand upon over time. This award is truly a credit to the many talented people who worked so hard to make MasterCard’s promotion a success.”
This multifaceted promotion was the largest program ever endeavored by MasterCard on the Internet. The promotion consisted of four key elements
— “See the Future Now” instant win game. An online game that highlighted card benefits now and in the future, with over 2400 prizes and eight sponsors
— The Shop Smart! decal. MasterCard’s decal was placed on merchant Web sites that use the best technology available today for safeguarding online transactions
— A promotional screen called “Shopping Now? Here’s How” that built awareness for the Shop Smart! decal and Shop Smart! merchants offering special values to MasterCard holders
— Customized media partnerships, which helped build awareness of the “Shop Smart! Decal and enhance merchant relationships through the creation of MasterCard preferences programs
“The results of this promotion surpassed all our expectations,” said Branigan. “The `See the Future Now’ game was played over 280,000 times by consumers, many who had an interest in electronic commerce. The number of people who chose to learn more about `Shopping Smart’ immediately after the game validated this interest. The results of the Shop Smart! program also exceeded expectations, especially in terms of the number of merchants participating in the pilot program. The initial goal of the decal program was to have a dozen merchants sign on to participate. MasterCard’s decal ended up on over 100 merchant’s Web sites within 10 weeks of the launch. In addition, Internet users who visited mastercard.com stayed there twice as long as they did before the promotion began.”
The fourth quarter promotion built the brand by creating a leadership position on the Internet for MasterCard in a program promoting online commerce to consumers and merchants. The “See the Future Now” instant win game and the “Shop Smart!” decal worked synergistically to provide an environment that encouraged people to get involved in the new commerce trends. These programs served to establish MasterCard as the authority on the best ways to shop online today. The large number of participants, both consumers and merchants, and the time spent on the MasterCard Web site demonstrated the promotion’s success in building the brand.
MasterCard International, a payments company with one of the world’s most recognized brands, is dedicated to helping more than 23,000 financial institutions around the world offer consumers a variety of payment options. MasterCard remains focused on helping to expand acceptance of its global brands (MasterCard(R), Maestro(R), Mondex(R) and Cirrus(R), the world’s largest ATM network) and maintaining reliable, secure networks facilitating global value exchange. MasterCard has 400 million credit and debit cards that are accepted at more than 14 million merchant, cash and ATM locations worldwide. In 1996, gross dollar volume generated exceeded $550 billion. MasterCard can be reached through its World Wide Web site at .
Multimedia Resources, LLC, is an interactive consulting and marketing agency developing business opportunities in interactive media. The company, based in Larchmont, New York, has a worldwide client base of over 60 companies, represented by large corporations and Internet start-ups. Multimedia Resources’ expertise in business development, relationship building, marketing services and technology innovation has been applied to a broad array of clients in the financial services, travel, computer, media and direct marketing industries.Details
Security First Technologies announced Friday it now has 22 financial institutions offering secure, Internet banking services using S1’s ‘Virtual Financial Manager’. The company indicated it has 44 other financial entities offering or planning to offer Internet-based personal financial manager systems using S1’s technology. Republic National Bank of New York is the latest institution to sign a letter of intent to use S1’s ‘Virtual Financial Manager’ and ‘Virtual Credit Card Manager’.Details
Consumers are still wary of using credit cards on the World Wide Web. A new study released yesterday by Lycos, Inc. says 86% of the respondents said they are “extremely concerned” or “very concerned” about transmitting credit card numbers via the Internet. About 90% of women expressed concerns about credit card security. The study of 875 surfers was conducted by independent Internet researcher, Cyber Dialogue.Details
Eltron International Inc. , leading global designer and manufacturer of thermal-label and plastic-card printers, and 3M Verification Systems, worldwide leader in sales of labels and laminates for document and product authentication, Thursday demonstrated in New York the results of their ongoing collaboration in the development of secure identification-printing systems.
Max3000, the initial product offering in Eltron’s MaxSecure ID Printing System series, is the result of a 2-year technical collaboration with 3M.
It integrates 3M Secure Card — a unique composite material and innovative thermal fusion process that produces highly durable, tamper-resistant identification cards — with Eltron’s dye sublimation thermal transfer plastic card printing, lamination and dye cutting technologies.
Designed for either batch or on-demand printing of identification cards that require tamper-resistant security and durability, the Max3000 is a single-process, secure ID card printing system that integrates printing, lamination, rotary die-cutting and optional magnetic encoding of 3M Secure Card media with no operator intervention required.
The unique lamination/thermal fusing process seals the printed images and personalized data inside the card. Once fused, the layers cannot be separated without obvious card damage. Testing conducted under harsh, demanding conditions validate an expected 10-year life for the cards.
The new MaxSecure ID Printing systems are ideally suited for applications where maximum security and durability are paramount, including state and national personal identification, driver’s licenses, health-care identification cards, military identification, social security cards, and access control.
In a related news release dated Feb. 26, 1998, Eltron announced a contract with Viisage Technology, leading provider of biometric identification systems, wherein Viisage will integrate its software with Eltron’s Max3000 to provide a complete digital driver’s license system to the Illinois Secretary of State Driver Services Department.
ISO 9002-certified, Eltron International is the leading designer and manufacturer of thermal-label printers, plastic-card printer, and secure ID printing systems and offers the broadest line of thermal printers in the industry.
Printers include direct- and thermal-transfer bar-code-label and receipt printers, integrated verified printing systems, plastic-card printers, and secure ID printing systems.
Major users are in the health-care, retail, manufacturing, automotive, package-delivery, financial-service, security and government markets throughout the world. Eltron has corporate headquarters in Simi Valley, Calif., and additional facilities throughout the United States, Europe and the Far East. More information about Eltron is available at .
St. Paul, Minn.-based 3M is a $14 billion diversified manufacturer serving an array of commercial, industrial and consumer markets. For more information about other 3M Verification Systems products — the worldwide leader in sales of labels and laminates for document and product authentication — call 800/689-7757. In Canada, call 800/3M-HELPS.Details
Duff & Phelps Credit Rating Co. has assigned ratings to the $637,500,000 Class A floating-rate certificates issued by MBNA Master Credit Card Trust II. The certificates have a coupon of one-month Libor plus 0.11 percent and a final maturity of August 15, 2005. MBNA America Bank, N.A. is the servicer and seller for the transaction. J.P. Morgan is the lead underwriter.
The ratings assigned to the certificates are based on MBNA’s experience as originator and servicer of the credit card receivables, the stable performance of outstanding MBNA securitizations as well as that of MBNA’s bank portfolio, the sound legal structure of the master trust and Series 1998-A, 15.0 percent credit enhancement for the Class A certificates, and 7.5 percent credit enhancement for the Class B certificates.
A New Financing Report Summary detailing this transaction is available on Bloomberg at DCR or by calling the DCR Hotline at 312-368-3198 or by e-mail at firstname.lastname@example.org.Details
Holiday Hospitality, operator of the Holiday Inn and Crowne Plaza chain, overhauled their hotel rewards program yesterday, introducing a new ‘Club Gold’ and ‘Platinum’ level program. ‘Priority Club Worldwide’ will also combine the former ‘Holiday Inn Priority Club’ and the ‘Crowne Plaza Preferred’ frequent guest programs. The company also announced a platinum version of its bank credit card program through First USA. The new ‘Priority Club Worldwide Platinum VISA’ card offers a 5,000 point bonus for first use of the card and an intro rate of 4.9%. To kick-off its upgraded card the company announced a six million point giveaway to run through June. Established in 1983, ‘Priority Club’, with six million current members, was the first frequent quest program of its kind in the hotel industry.Details
Mac-Gray Corporation , one of the nation’s leading providers of card- and coin-operated laundry equipment service to multi-housing markets, will acquire Amerivend, its largest Florida competitor, under a definitive agreement announced Thursday by the two companies.
Under the agreement, Mac-Gray will acquire one hundred percent of the outstanding capital stock of Amerivend Corporation and the assets of Amerivend Southeast Corporation (together “Amerivend”). In addition to being the largest provider of card and coin-operated laundry equipment in Florida, Amerivend adds to Mac-Gray’s route business in the Atlanta market. It is also the principal distributor of Maytag commercial laundry products in Alabama, Georgia and Florida.
Founded in 1959, Amerivend had 1997 revenues of $18.6 million and has offices in Miami, Orlando, Tampa and Atlanta.
Stewart MacDonald, chairman and chief executive officer of Mac-Gray, said the purchase price, which is subject to certain adjustments, will be approximately $33 million in cash, which includes the repayment of certain debt. The transaction is subject to customary closing conditions, including regulatory filings, and is expected to close within the next month.
Gerald E. Pulver, founder and president of Amerivend, said “The merger with Mac-Gray is wonderful news for our customers. Although there was a higher bid on the table, we made this decision because of our long-standing commitment to both our customers and employees. Amerivend and Mac-Gray share the same commitment to integrity and customer service. Our people are in good hands.”
Mr. MacDonald said that becoming the largest provider in Florida gives Mac-Gray a strong foundation for continued growth in that state, a particularly promising market because it has the third largest multi-housing population in the U.S.
“It also increases our opportunities for selling Maytag products to the retail Laundromat market throughout the southeast,” Mr. MacDonald said. “Additionally, it brings into our corporation another company with an existing commitment to smart-card convenience for its customers. Gerald Pulver and Amerivend were the pioneers of smart-card applications for the laundry industry, and it is therefore only fitting that we are able to join together. They fully understand the cashless convenience which smart cards bring to the customers they serve.”
Mac-Gray is the industry leader in smart-card operated laundry equipment, which eliminates the need for coins and thereby provides significant advantages to operators and customers alike. Founded in 1927, Mac-Gray had 1997 revenues of $81.4 million and completed an initial public offering in October, 1997.
Certain matters discussed in this press release may constitute forward- looking statements within the meaning of the federal securities laws. The acquisition of Amerivend is subject to certain closing conditions, including regulatory approvals, which may impact the timing or completion of the acquisition. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors, including the ability of Mac-Gray to successfully integrate Amerivend’s operations into Mac-Gray’s operations, the impact of Mac-Gray’s growth activities on its operating activities, competition in the laundry services industry, general economic conditions, the availability of equity and debt financing, fluctuations in interest rates and other risks detailed from time to time in the filings of Mac-Gray Corporation with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. Reference is hereby made specifically to the “Risk Factors” set forth in the Form S-1 (no. 333-33669), as amended, filed by Mac-Gray Corporation with the Securities and Exchange Commission.Details
Herndon, VA-based InteliData Technologies and Microsoft announced yesterday the first end-to-end OFX home banking solution certified to work with the MS ‘Money’ software and Home Financial Network’s ‘Home ATM’. InteliData’s ‘Interpose OFX’ supports a full range of home banking transactions. ‘Interpose OFX’ combines Windows NT with IBM mainframes, enabling banks to gradually add capacity. The component architecture for the in-house OFX solution starts at less than $100,000. Bill payment can be added for a total price under $200,000.Details
First Data Merchant Services announced Thursday it will chop off 10% of its 5,200 employee workforce as part of its ongoing management reorganization. The terminations will take place at all ten FDMS service facilities. The company also announced yesterday it will shutdown only its Sunnyvale, CA facility. The nine remaining facilities are located in Atlanta; Louisville; Nashville; Omaha; Hagerstown, Md; Hunt Valley, Md; Melville, NY; Sunrise, FL; and Coral Springs, FL. FDMS said it will assist the 500 people fired with a “dignified transition to new career opportunities”.Details
USA Technologies Inc. the leader in unattended credit card-activated control systems, announced today that it has completed a private placement offering.
“The company received an immediate cash infusion of $750,000, and stands to receive an additional $550,000 assuming full exercise of warrants,” said George R. Jensen, Jr., president and chief executive officer of USA Technologies.
“The cash generated by our private placement will allow us to continue the revenue growth that the company has been experiencing since the latter half of 1997,” added Jensen. “During the last six months, USA has entered into a joint venture agreement with Mail Boxes Etc.; our MBE Business Express(TM) has been recommended by industry-leading Marriott Hotels, Resorts and Suites as a solution to Marriott’s business center needs; MBE Business Express(TM) was awarded Best New Product at the 82nd Annual International Hotel/Motel & Restaurant Show held last November in New York City; and, we have expanded our management team. In addition, USA and/or MBE Business Express(TM)has been mentioned in several leading publications including the USA Today, New York Times, Dow Jones News Service, Philadelphia Inquirer and the San Diego Union- Tribune.
USA Technologies’ flagship product is MBE Business Express(TM) a joint venture product with Mail Boxes Etc. MBE Business Express(TM) using USA’s patented technology and previously marketed by USA as Business Express(TM) provides credit card-activated self-service office systems for business travelers and consumers who need to access the internet or e-mail or use personal computers, printers, copiers and fax machines while they are away from their office or home. Plans call for each unit to feature a dial through telephone to a nearby Mail Boxes Etc. location for additional services and support such as color copying projects, binding and packing and shipping. A simple swipe of any major credit card activates the office equipment and computer stations which offer many popular software programs as well as access to the internet and e-mail. To maintain security, MBE Business Express(TM) is equipped with TransAct(TM), USA Technologies’ proprietary payment and management system that processes secure, real-time credit card transactions, billing customers for actual services used while ensuring timely payments to the business center owner.
USA Technologies is a leading owner and licensor of networked credit card- activated control systems for the personal computer, photocopier, facsimile and laptop printing capabilities. The company’s proprietary technologies make available unattended, point-of-sale control systems for credit card payments.
Statement Under the Private Securities Litigation Reform Act
The statements contained herein regarding the continued growth in revenues of the Company are forward-looking statements that invoke substantial risks and uncertainties. The following are important factors that could cause the Company’s actual revenues to differ materially from those expressed or implied by such forward-looking statements the failure of the Company to sell the MBE Business Express(TM) in sufficient quantities; the inability of the Company to operate its business at a profit or to fund operations through sales of additional securities; or, the failure of the Company’s patents to adequately protect its technology from competitors.Details