California-based Horizon Technology has been selected by Citigroup to design and manufacture kits to retrofit existing CRT screens for its ATM machines across North America. The customized kits will cover several size applications and includes an LCD screen, controller board, inverter, OSD board and cabling. Horizon Technology is a independent distributor specializing in storage and display products for the OEM, EMS and ODM markets.
Wright Express cardholders can now take advantage of Cross Country Automotive Services to provide 24-hour roadside assistance and towing services nationwide by calling one toll-free number. Payment can be made using the Wright Express card. Wright Express is a provider of payment processing and information management services for over 280,000 commercial and government fleets containing more than 3.9 million vehicles. Cross Country Automotive Services is a provider of integrated vehicle and driver programs in North America.
First Data Iberica has signed a three-year contract with Transaction Network Services S.A. to be the sole provider of dial-up connectivity in Spain. TNS will provide FDI with dial-up connectivity anticipated to transmit millions of dial-up transactions per year between the company’s headquarters in Madrid, 10,500 terminals in newsagents and tobacconists, and 3,000 terminals in gas and petrol service stations in Spain. Using its private network, TNS will also provide back-up services to the 1,500 GPRS terminals that FDI will introduce this year to speed up processing of payments and to reduce the costs of processing payments in remote rural locations. First Data Iberica is the First Data subsidiary for Spain and Portugal. Transaction Network Services S.A. is the Spanish subsidiary of TNS, Inc.
A new study indicates that airlines could lower their credit card costs by 20% if they followed a two-fold strategy of reducing credit card costs and enhancing revenue with products such corporate travel accounts or alternative forms of payment. The report noted that airlines could achieve a savings equal to $12.50 per ticket if they: optimized their payment mix in favor of lower cost forms of payments; streamlined and automated payment related business processes; negotiated lower merchant discount rates with traditional credit cards; launched co-brand card programs; and became a primary or part issuer of other forms of payment. The white paper analysis by Edgar Dunn and Company cited Continental Airlines and America West as two of the early adopters of this payment strategy. EDS also listed the “UATP Corporate Travel Account” as good example of a way to enhance revenues. Other alternative forms of payment cited were PayPal, Bill Me Later and ElectricCheck.
Canadian Tire Financial Services has set a course to grow credit card balances, insurance revenues, and test new financial products. The company plans to grow credit card receivables by approximately 12-15% annually, by increasing the number of accounts that have balances by 3-4% and, by increasing average balances by 8-12%. In order to achieve these targets, Financial Services plans to continue its in-store acquisition program and balance transfer promotions. It also plans to introduce new types of credit cards. The firm also wants to enhance Financial Services’ offerings of insurance and warranty products to credit card customers. CTFS also plans to expand Financial Services’ personal (term) loan products based on the successful testing of these products in 2004. Additionally, they plan to test and explore additional financial products, which might include lines of credit, savings accounts and mortgage offerings. Partnering with other financial institutions will be considered as a way of sharing any potential risk associated with new product offerings.
Venue hospitality specialist Centerplate is installing 240 Quest POS terminals and 50 wireless hand-held units at Yankee Stadium, 250 POS terminals and 26 wireless hand held units at SBC Park in San Francisco, as well as a number of terminals at two minor league ballparks. Centerplate first introduced the Quest POS system with the installation of about 500 Quest POS terminals at Invesco Field Mile High Stadium in 2001 and installed an additional 590 Quest POS terminals and 60 wireless hand held units at FedEx Field in Washington, D.C. in 2004. All Quest POS terminals are configured to accept credit cards with approval times of less than two seconds using Web based authorization. Quest has also configured its products to work with Exadigm wireless terminals. Quest Retail Technology is the largest developer and manufacturer of POS systems in Australia and has over 30,000 POS terminals installed in 17 countries worldwide.
Industrial and Commercial Bank of China will lead the migration to EMV cards in China. The bank has signed a one year contract with
Oberthur Card Systems for EMV global platform products as well as technical and consulting services. ICBC is China’s largest commercial bank with 27,000 branches. Oberthur Card Systems is the number one provider of VISA and MasterCard payment cards worldwide.
Industrial and Commercial Bank of China will lead the migration to EMV cards in China, according to this week’s issue of CardFlash International. The bank has signed a one year contract with Oberthur Card Systems for EMV global platform products as well as technical and consulting services. ICBC is China’s largest commercial bank with 27,000 branches. Oberthur Card Systems is the number one provider of VISA and MasterCard payment cards worldwide. Last year, Oberthur Card Systems delivered 148.3 million micro-processor cards, a 16% increase compared with 2003.
RBS Lynk has hired Gary Grant as Vice President of National Sales for the Petroleum channel and Ed Davis as Director of National Accounts for the Petroleum division. RBS Lynk is a single-source provider of electronic payment processing services and is a member of The Royal Bank of Scotland Group (RBS Group).
San Jose-based Indala has introduced the FlexSmart Series 13.56 MHz Contactless Smart Card. Features include full sector/file programmability, encryption key management, and outputs such as Wiegand and ABA Track 2. Indala Corporation is a leading security technology company that develops and manufactures 125 kHz proximity, 13.56 MHz contactless and contact smart cards and associated readers for physical and network access-control applications.
Smartpay Jieyin has launched its real-time system in
Shanghai and Hebei. Partner banks for the roll-out of services in Shanghai include China Construction Bank and China Merchants Bank. In Hebei, partners include Huaxia Bank and Agricultural Bank. Merchant partners include China Unicom Hebei and China Unicom Shanghai. Other merchants include Hebei Welfare Lottery Agency, Shanghai South and Pudong Gas, online gaming time for many of China’s largest gaming providers, and other merchant offerings. SmartPay works with banks at the regional level to enable real-time payments, a unique and powerful solution that provides true real-time payment processing.
Cyota has launched a new product based on the company’s “Adaptive Strong Authentication” technology for online banking. “Cyota eSphinx” authenticates all online banking activities beyond the standard user name and password based on a device profile, assesses the risk level associated with each activity or transaction in real time and requests additional authentication measures for any transactions identified as high risk. The new product is a low-cost alternative to hardware-based strong authentication solutions and is completely invisible to 95% of account holders. At the first sign of a high-risk transaction, such as major deviations from a customer’s established banking patterns, device or communication profile, eSphinx immediately invokes stronger authentication measures via telephone or other communication channel. If the transaction is deemed authentic, eSphinx will adapt and “learn” this new user behavior, and will not trigger similar alerts in the future. “Cyota eSphinx” is a low-cost alternative to hardware-based strong authentication solutions, and is completely invisible to 95% of account holders.