BMO Bank of Montreal and the Canadian Red Cross have introduced a new affinity credit card. The “Canadian Red Cross Mosaik MasterCard” directs a percentage of card purchases to the Canadian Red Cross. With a “Mosaik MasterCard,” cardholders can customize their card at any time by choosing the reward program (AIR MILES or CashBack), interest rate plan and special features that best meet their needs.
BMO Bank of Montreal is the largest MasterCard issuer in Canada. BMO Bank of Montreal launched the first “Mosaik MasterCard” in September 2002. The new card offered consumers 900 potential combinations of features and pricing.

Sears Canada Receives Government Approval for its New Bank Subsidiary

The Office of the Superintendent of Financial Institutions has approved the opening of Sears Canada Bank. Current “Sears Card” and “Sears MasterCard” holders will receive an information package regarding their new issuer during the first quarter. Sears Canada has been ranked as the most trusted company in Canada. Sears Canada submit its application to the OSFI for a federally regulated bank in July. The company says the establishment of a bank will, among other things, facilitate the offering of a wide variety of innovative MasterCard products to customers. The Sears Card represents the single largest credit card franchise in Canada. Last year, the company introduced the “Sears MasterCard.” First rolled out in Ontario, the card has been introduced in British Columbia and Alberta. Sears Canada says a bank will bring greater regulatory certainty and harmonization across Sears Canada’s national financial services operations.

Shift4 Adds the Processing of Canadian Debit PIN Pad Transactions

Integrated debit at the point of sale in Canada has become a reality. Shift4 Corporation has added the processing of Canadian debit PIN pad transactions into its “$$$ ON THE NET” Web-based e-payment gateway solution. Shift4, in conjunction with its partner Retail Technologies International, has already installed its new Canadian PIN pad debit solution in some Canadian retail outlets, including Niagara Parks Commission and Build-A-Bear Workshop. “$$$ ON THE NET” also includes a comprehensive accounting application that provides the ability to report, review and correct transactions before settlement, as well
as archive and retrieve them to assist with charge back requests.

CIBC Launches Verified by Visa via Cyota and TSYS to Entire Portfolio

CIBC has become the first major Canadian issuer to launch a “Verified by Visa” program. The deployment of the cardholder authentication service comes via TSYS’ “CardGuard” and Cyota’s “SecureSuite.”
Cyota has localized the service for Canadians to include bilingual support for CIBC’s English- and French-speaking customers. Cyota “SecureSuite” is a modular platform that seamlessly integrates multiple
payment security applications, including “Verified by Visa,” MasterCard’s “SecureCode” and more. TSYS implemented Cyota’s “SecureSuite” platform in 2001, and the companies have since delivered the services to multiple issuers worldwide. Cyota currently powers more than 80% of the cards eligible for the service in the USA. TSYS services more than half of all VISA accounts in Canada.

Canadian Tire Petroleum Deploys Now Prepay Phone Card Terminals

Canadian Tire Petroleum has inked a deal to install “Now Prepay” POS terminals with “e-Fresh” software in their 221 petroleum bars across the country. The terminals dispense pre-paid electronic phone cards.
To date, Now Prepay has deployed 2,300 “e-Fresh” licensed POS terminal clients in Canada. Now Prepay is a wholly-owned subsidiary of VendTek Systems. Canadian Tire Corporation operates more than 1,000 stores, gas bars and car washes in the country.

Moneris’ SmartSELECT Terminals Empower RadioShack POWER Card

RadioShack Canada’s new “POWER Card” program has selected Moneris’ “SmartSELECT” terminals. RadioShack and Household Finance launched the new card in September which offers five per cent off most purchases. Moneris currently processes all MasterCard, VISA and Interac Direct Payment transactions for RadioShack Canada. Offering full credit and debit payment options, Moneris’ “SmartSELECT” terminals
also have the capability for private label, loyalty and gift card transactions. RadioShack Canada has more than $600 million in annual retail sales. Moneris processes for more than 350,000 merchant locations.

Standard Chartered Bank to Use Wealthview Banking in South Africa

Vancouver-based Fincentric Corporation reports that Standard Chartered Bank has purchased software licenses for its “Wealthview Banking” system. The deal came via Standard Chartered’s reentry into South Africa in August with the purchase of 20twenty, a digital financial services organization. It is expected that 20twenty will re-launch during the first quarter.
20twenty, based in Cape Town, South Africa, has utilized Fincentric’s platform since its inception, when it was launched in July 2001 as the first digital-only bank in the region. “Wealthview Banking” supported 20twenty’s customer base as it grew to over 40,000 within its first six months of operations. Standard Chartered Bank operates in excess of 500 locations across the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.

DataWave Systems Launches NextWave Cash Cards

Vancouver-based DataWave Systems has signed a deal with Money Card, Moneris Solutions, CU-Connection, Nextwave Card, and PACE Savings & Credit Union to launch cash cards in the Canadian market. The cash card program is being spearheaded by Nextwave Card (50% owned by DataWave.) Nextwave will market the cash card to customers in the financial services sector providing the hardware and software required to activate and reload cards, as well as monitor and report transactions to vendors. Moneris Solutions in Toronto is responsible for settlement of funds from card transactions, while CU-Connection in Scarborough, Ont. is responsible for authorizing all transactions and providing switching services to facilitate settlement of funds. PACE Savings & Credit Union in Vaughn, Ont. is acting as the authorized Bin number issuer for all prepaid cards. National Money Mart is the first customer to use the Nextwave cash card system. Following the successful pilot of Nextwave cash cards at five Money Mart branches in Victoria, B.C., the company plans to introduce branded personal cash cards at its 295 Canadian branches in a phased rollout starting in 2004.

VISA Canada Releases Updated Owner’s Manual and Holiday Survey Results

VISA Canada released an updated version its publication that is designed to help consumers manage their credit card use responsibly. The booklet, “Credit Cards:
An Owner’s Manual,” was originally published in 1995, and has been distributed to more than 850,000 consumers across Canada. A French version of the updated publication will be available by year-end. VISA Canada also reported that a recent survey it conducted found that almost half of all Canadians plan to use credit cards for their holiday shopping needs, and that most of them will have their credit card balances paid off within two months.

Scotiabank’s Personal and Card Loans Up 13%, as ABM Network Grows by 20%

Scotia Bank reported that its personal loans and credit card portfolio grew 12.5% between November 1, 2003 and October 31, 2003. For the third calendar quarter, the issuer had $26.3 billion in personal and card loans compared to $23.4 billion one year ago. Scotiabank also reported its ABM network increased by 20% during the quarter to more than 2,700 machines. The increase is due to deal with Shell Canada. Scotiabank-branded ABMs will be installed in up to 500 Shell retail gasoline convenience stores across Canada. Scotia OnLine’s activated customer base grew to 1.1 million customers, up 29% year over year, and transaction volumes have grown at an even faster rate. Overall, Scotiabank produced net income of $660 million for the quarter, up 13.2% from last year.

LML and Verus Financial Management Come to Terms

LML Payment Systems has granted a personal, non-exclusive license for its patented processing of electronic check transactions Tennessee-based Verus Financial Management.
Under terms of the deal, Verus paid LML a fee on closing for a release regarding potential past infringements of the patent and will pay a running royalty fee based upon each electronic check transaction processed under the license. Verus offers a wide range of payment processing services including electronic payment processing for associations, retail, mail order/telephone order and Internet based merchants. LML provides check processing solutions including electronic check authorization, electronic check conversion and primary and secondary check collection including electronic check re-presentment to national, regional and local retailers.

Terra Payments Receives Canadian Information Productivity Award

Terra Payments has been awarded a “Canadian Information Productivity Award” for the development of its proprietary, automated risk management system, utilized in the screening and processing of credit card and electronic cheque payments on behalf of its customers worldwide. Terra Payments, formerly SureFire Commerce, offers highly specialized credit card and cheque processing services for businesses around the world, via Internet and mail order-telephone order. The company has processed more than 50 million transactions since introducing proprietary, platform technology three years ago. Terra Payments is one of only 13 Canadian companies to receive a “2003 CIPA Award,” chosen from a field of 140 entrants.