Hypercom has named Philippe Tartavull, president of Oberthur Card Systems North and Central America, to its Board of Directors. Tartavull has 12 years of experience in the management of electronic payments and system integration organizations. Prior to joining Oberthur Card Systems in 1999, Tartavull was for six years president and CEO of Syseca Inc, a provider of system integration services and mission-critical software for various industries including transportation and utilities. He holds a graduate degree from the Anderson School of Management through their Executive Program.
Detica has launched “NetReveal,” an advanced fraud detection system.
“NetReveal” takes a revolutionary approach to fraud detection by
spotting fraudulent activity in social networks, rather than individual
transactions. The technology is already being successfully applied to
identify claims fraud in the insurance industry, as well as mobile phone
fraud in the telecoms market and ‘sleeper fraud’ in retail banking and
is being used in government to address fraud and security issues. The
system allows investigators to view and interrogate suspicious
networks of transactions, while it also prioritizes the most suspicious
Bankruptcy filings nose-dived in the first quarter, falling 73% compared to one-year ago and down six-fold sequentially. The number of filings in the first quarter is the lowest number of quarterly filings in the last 20 years. According to CA-based Lundquist Consulting 1Q/06 Chapter 7 consumer filings are 80% lower 1Q/05. Due to new bankruptcy laws the number of Chapter 13 filings in first quarter represented 45.7% of the total as opposed to historic rates of 29%. Lundquist notes that on an annualized basis, 1 in every 261 households filed bankruptcy in the first quarter of this year as opposed to 1 in every 73 households in the first quarter of last year. According to the Administrative Office of the U.S. Courts, consumer and business bankruptcy filings hit a record 667,431 petitions in the fourth quarter. (CF Library 3/27/06)
INSIDE Contactless has appointed Charles Walton as
Executive Vice President of Sales and Marketing and Philippe Martineau
as Vice President of the NFC Business Line. Walton will be focused upon
driving the international sales & marketing force within INSIDE
Contactless during this critical growth period for the company.
Martineau will work on developing the worldwide emerging NFC business
line on various market segments such as mobile telecommunication and the
consumer market. Walton has more than ten years experience in the
smart card sector, including several years operating a successful smart
card product & services company within the US market. He was mostly
recently EVP & COO for Diversinet, a Toronto headquartered mobile
security company. Martineau spent the past 17 years in the smart card
industry working for Gemplus, predominantly focused in the
Telecommunication industry. INSIDE Contactless is a fabless
Champion Mortgage has released statistics showing that 83% of college students have at least one credit card, with an average balance of $2,300; receive 15 credit card solicitations per week; and that 65% of college students carry credit card debt with 50% charging their cards to the limit. Spend Smart, a national public awareness campaign with an emphasis on educating high school students on the fundamentals of responsible and sensible money management, is a new initiative designed to provide teens with the tools they need to become financially responsible adults.
Aviation card specialist Multi Service Aviation has named Brenda Vann to its team of regional managers. Vann comes to Multi Service Aviation with a decade of experience in the aviation industry. During her career in the industry, she held various positions at Denver jetCenter, including roles in customer relations and sales and marketing. The U.S. Bank The Multi Service Aviation Card is accepted worldwide by more than 7,000 aviation service providers in over 190 countries and h provides cardholders with customized billing, free online account maintenance, and savings on fuel, while giving merchants account flexibility, free business promotion, competitive bank card processing, and fast transaction authorization and settlement.
Hudson’s Bay Company announced the completion of the sale of the Company’s
Financial Services operations to GE Money, the Canadian consumer lending
unit of General Electric Company for approximately $355 million. As part
of the agreement, Hbc and GE Money have entered into a 10-year alliance
under which GE Money will provide credit marketing and analytic
support, credit servicing and customer care for Hbc’s 3.1 million retail
cardholders. Hbc customers will be able to continue to use their Hbc
cards. Goldman, Sachs & Co. and BMO Nesbitt Burns Inc. served as
advisors to Hbc on the transaction.
First Data and the North Carolina Restaurant Association have launched the “TakeCharge” payment program, which provides increased payment choices and attractive rates for credit card processing to small and mid-size merchants. In addition, members will benefit from other advantages of the “TakeCharge” program, including: easy-to-understand billing; acceptance for all major credit cards provided through First Data’s alliances with various banks; PIN-secured and signature-based debit acceptance through leading networks like the STAR Network; merchandising programs, instant processing; the TeleCheck Electronic Check Acceptance service; and Dynamic Currency Conversion services that allow consumers to pay in the currency of their choice.
Banco Galicia y Buenos Aires S.A.has partnered with NCR
Corporation to expand its automated teller machine channel
availability and functionality. The order includes 200 NCR
“Personas” ATMs, NCR’s “APTRA” multivendor software,
and complete installation and maintenance services. This is NCR’s
second recent order with Banco Galicia and one of the
largest single contracts for NCR in Argentina. Banco Galicia has 2.5
A new survey has found that the majority of U.S. wireless users would replace their wallets and credit cards with their cell phones if there was expanded functionality. More than half said they would use cell phones to make vending machine purchases or to enter sporting events, trains or subways. The AuthenTec study conducted by Zoomerang also found that 43% would purchase items from a store and 40% would use cell phones to conduct wireless banking. Additionally, the study found that the vast majority of cell phone users want biometric fingerprint protection and that one-third were willing to pay extra for the feature. AuthenTec notes that nearly 5 million biometrically enabled m-commerce phones already are in use in Japan and Korea.
American Associates Group has agreed to acquire 100% of San Diego-based EPP Secure, a provider of electronic payment processing services and solutions. EPP specializes in secure, alternative direct payment applications over the internet, internet security solutions and stored value systems which support gift card issuance and redemption as well as pre-paid account management and processes both ACH (Automated Clearing House) Electronic Check and Billing transactions as well as processes bank exchangeable images in support of recent Check 21 legislation. American Associates Group, Inc. is a technology and software company which specializes in internet security and online alternative payment processing.
Eiger Systems processed over 4.35m
electronic transactions daily throughout December. This represents 33.8%
(87 million) of all BACS payments (Direct Credits and Direct Debits)
submitted via BACSTEL-IP. By the end of 2005, Eiger Systems processed
more electronic transactions per month than any other BACSTEL-IP
software provider. Eiger Systems’ global payments platform,
“EigerPAY Gateway” has become the industry-preferred solution for high
volume or complex Originators submitting electronic payments to BACS.
Users include Standard Life Insurance, BSkyB, BT and Dixons, part of the