Tidel Technologies reported Thursday that the company posted a 94% increase in the number of ATMs shipped in calendar year 1999 compared with total shipments for 1998. Tidel deployed a record 8,403 ATMs in 1999, representing an increase of 4,079 units over the previous year. In 1998, the company had shipped 4,324 ATMs for a 33% increase over the 3,242 units in 1997.
Starting next Friday, Jan. 14, U.S. taxpayers will be able to charge their federal income tax payments for the 1999 tax year via MasterCard, American Express and Discover cards. The IRS is offering the service through an agreement with Official Payments Corp., formerly known as U.S. Audiotex. The 1999 tax year is the first full year of the credit card payment program. During the 1998 tax season, the IRS and Official Payments conducted a pilot program in which 44,840 tax transactions were processed, representing a total of $174 million in payments. This year the IRS has included the OPC’s toll free number in 140 million 1040 Form instructions. Official Payments, which recently went public, will also advertise in newspapers, magazines, and on television and radio to build awareness. In addition to balance due payments, the OPC service can be used by taxpayers filing for a 1999 tax year extension and also for estimated tax payments for tax year 2000. Official Payments Corp. charges consumers an approximate 2.5% convenience fee for processing tax payments. OPC has also partnered with several state governments and 450+ municipal and county entities, in which it collects property taxes, real estate taxes, parking fines and other government fees by credit card over the telephone and the Internet.
Wells Fargo made management adjustments in its recently formed Internet Services Group. Steve Ellis has been named head of Wholesale Internet Services; Shelley Freeman has been named head of Investment Internet Services; and Debra Rossi has been named head of Business Banking Internet Services.
Year-end 1999 results are flowing in as CardData launches its quarterly portfolio survey. Among significant issuers releasing results yesterday: KeyCorp and Norwest. For the latest stats on more than 350 U.S. card issuers visit CardData ([www.carddata.com])
4Q/99 PORTFOLIO SNAPSHOTS
Recv YTD Vol Accts Actives Cards
KeyCorp $1,371,351,106 $2,220,417,514 1,086,071 591,461 1,429,795
Norwest $1,225,540,750 $2,414,958,513 1,206,262 731,312 1,674,753
Source: CardData ([www.carddata.com])
PaySys International Inc., a global leader in transaction processing applications, announced that Harvey A. Wagner has been appointed executive vice president of finance and chief financial officer, a newly created position.
Wagner, most recently executive vice president of finance and administration and chief financial officer for Premiere Technologies Inc., is a 35-year veteran of the computer, semiconductor, software and telecommunications industries. Wagner has led many high profile growth and profitability initiatives including acquisitions, initial public offerings, company restructurings, and implementations of new business enterprise systems.
“Harvey Wagner adds tremendous financial and management depth to PaySys,” said Stephen B. Grubb, chief executive officer, to whom Wagner reports. “His experience and accomplishments in helping grow technology companies will be invaluable as we move forward to broaden the company’s horizons.”
Prior to Premiere Technologies, Wagner served as senior vice president of finance, treasurer and chief financial officer for Scientific Atlanta. During his tenure he managed the company-wide implementation of a global enterprise management system, negotiated the company’s first committed line of credit, and managed the acquisition of several companies, both international and domestic.
Previously, Wagner was chief financial officer for Computervision Corp., a leading supplier of workstation-based mechanical CAD/CAM software and related services. He assisted in taking the company private through a leveraged buyout, managed the subsequent restructuring, and led the return to the equity market through a $300 million initial public offering and a $300 million debt offering. The company has since merged with Parametric Technologies Inc.
Before joining Computervision, Wagner served as chief financial officer for American Microsystems Inc., an international semiconductor company specializing in MOS application specific integrated circuits. Earlier, he worked with GTE Corp. in several senior financial positions.
Wagner, who earned a bachelor’s degree in accounting from the University of Miami, is a member of the Financial Executives Institute, the Institute of Management Accountants, and the National Association of Corporate Directors. He is on the board of directors of UNICCO Service Company, and sits on the President’s Council at the University of Miami and on the Executive Advisory Board of the Wharton School of Business, and is a founding board member and president of The Wellness Community-Atlanta.
PaySys International Inc. is an established global leader in transaction processing applications. PaySys has developed category leading software products for both the banking and retail industries such as CardPac, TRAMS, and VISION21. The company’s latest industry leading product, VisionPLUS(R), seamlessly integrates the Internet with its retail and banking transaction processing applications. Headquartered in Atlanta, PaySys has offices worldwide and clients in more than 30 countries on six continents. For more information, visit the company’s web site at [http://www.paysys.com].
PaySys is a trademark and VisionPLUS is a registered trademark of PaySys International Inc. Brands or products mentioned in this document are trademarks or registered marks of their respective owners and must be treated as such.
NextCard released a survey yesterday, based on cardholder transactions, that shows Amazon.com captured a 44% share of online holiday merchant volume.
Top Five Holiday eCommerce Sites Based on Transaction Volume
Nov. 15th through Dec. 31st 1999
Rank Merchant Avg. Purc.
1. AMAZON $36.00
2. BUY.COM $64.63
3. BARNES $22.16
4. CD NOW $25.91
5. ETOYS $60.31
Source: NextCard eCommerce Index
Electronic Clearing House signed agreements Thursday to acquire Rocky Mountain Retail Systems. CO-based RMRS is the creator/owner and processor for National Check Information Systems through which RMRS provides check verification services to large retail chains, processors and collection agencies across the nation, among which are Dollar General and Blockbuster Video. Under the terms of the acquisition agreement, ECHO issued 1,000,000 shares of restricted common stock. An additional 1,500,000 shares of restricted stock will be placed into escrow to be issued to the RMRS selling shareholders under a performance clause. RMRS will operate as a wholly owned subsidiary and Dr. Donald Dick, president of RMRS, will remain the president of the ECHO subsidiary. Operations will remain in Boulder.
Cybergold, Inc., the premiere place on the web where consumers are paid real cash for their online behavior, announced a 300% increase in membership in 1999, going from one million to four million members in just 12 months.
“Cybergold and our affiliates are thrilled with our membership activity in both number of overall hits and new members. Increased membership means better market penetration. The traffic we bring our advertisers proves yet again that cash incentives really pay off,” said Nat Goldhaber, president and CEO of Cybergold, Inc.
To mark the four millionth member milestone, Cybergold offered its biggest incentive to date: a Caribbean cruise on Norwegian Cruise Lines. The winner will be announced pending notification.
Cybergold, Inc. (NASDAQ: CGLD) is a leading provider of Internet-based direct marketing and advertising solutions, including incentive programs which reward consumers with cash for responding to ads and programs. Cybergold’s 4 million members can spend their cash rewards online at “Cybergold Spend” or at the sites of 60 merchants who have adopted Cybergold’s micropayment technology. Members can also spend their reward cash offline by transferring it to a VISA card or a bank account. Cybergold consistently ranks among the 100 most visited Web sites, according to PC Data Online. Cybergold’s partnerships include Visa USA, MBNA, AOL, EarthLink, E*TRADE, Xoom, Quintel and Autobytel. Cybergold is headquartered in Oakland, California and counts Intel among its corporate investors. For more information, visit [www.cybergold.com]
APAC Customer Services announced it has signed a definitive agreement to sell its Paragren Technologies, Inc. subsidiary, which consists of the Paragren Software business. Paragren was classified as a discontinued operation by APAC in December 1998. The transaction is expected to close this month.
NextCard’s banner ads were the only credit card related online ads to make into the top ten banner ads for the week ending Jan. 2 according to Nielsen/NetRatings. NextCard’s “0.0% APR” ad has the second largest reach of any ad on the Internet last week while NextCard’s “30-sec Approval” ad came in as #6. Nielsen says 50.7 million users surfed the web last week producing an average click rate for top banners of 0.27%.
Trintech Group PLC said yesterday that Alpha Credit Bank in Greece has chosen ‘PayGate’ to process card payments from its 17,000 merchant base in the country. Delta Informatics installed and operates the ‘PayGate’ system as contract payment processor to Alpha Credit Bank. Alpha and Delta chose ‘PayGate’ as part of Trintech’s contract with VISA EU to replace its ‘Member Data Capture’ system in 40 banks across the region with a solution that is scalable, multi-currency enabled and has the ability to process multiple card types on an open platform. The ‘PayGate’ solution has been designed to enable banks and transaction processors to scale up to the demands of multiple card types, as well as integrate seamlessly with legacy card systems.
Delta Air Lines and Asahi Card Company will introduce the ‘Delta SkyMiles Asahi VISA’ card today in Japan. The new card is the first Delta co-branded credit card offered outside of the USA. American Express issues the U.S.-based, co-branded Delta credit card. It is also Delta’s first partnership involving the VISA brand. The yen-based revolving credit card, available in ‘Classic’ and ‘Gold’ levels, will feature Japanese-language statements and other in-country cardholder services. Delta said this morning that it will launch a series of international ‘SkyMiles VISA’ credit cards during the year 2000.