Los Angeles-based Bentley Communications has finalized its deal to acquire Kryptosima. The companies also have signed an amendment restructuring the acquisition to resolve various issues.
Netflix, the largest online DVD rental service has signed a deal to utilize Retail Decisions’ “LiveProcessor” electronic payment software for its 742,000 U.S. customers. “LiveProcessor” combines online, call center, retail and IVR transactions into a single system, and integrates real-time authorization, batch processing and settlement functionality with existing order processing, subscription and electronic commerce systems. The payment processing application also supports Visa CVV2 and Amex CID security codes, procurement level 2 and 3 cards, electronic check processing, foreign currency settlement support and multiple bank interfaces in a single product. With over 100 installations of LiveProcessor in the US, LiveProcessor customers complete an estimated 13 million card-not-present transactions in 23 currencies on a monthly basis. Clients of the company include Hotwire, Nextel Communications, Research In Motion, ShopNBC, Tupperware and Unicity.
The North West Company, the oldest retailer in North America is
implementing Credit Management Services’ credit card application solution
to support its growing private label credit card business.
The North West Company operates 176 food and general merchandise stores,
with the majority located throughout northern Canada and Alaska. The CMS
application is fully scaleable operating in UNIX and OS/390
supporting department to enterprise level systems. CMS is headquartered in
Keycorp Limited has signed a subcontracting agreement with PCCW Business
eSolutions for the provision of 1.2 million smart cards for Hong Kong ‘s
planned “Smart Identity Card System.” The current deal is expected to
generate more than A$5 million for Keycorp. Business eSolutions, a business
unit of PCCW, will utilise Keycorp’s MULTOS operating system to keep
personal data stored by the Immigration Department of the Government of the
HKSAR private and secure when “SMARTICS” replaces the laminated plastic
photo ID card system in use since 1987. The PCCW-led consortium was awarded
the project in February by the Hong Kong government after a competitive
bidding process. Keycorp will join other key technology partners in the
deal, including ACI Worldwide, Cogent Systems, SecureNet Asia, Mondex
International and TrÃ¼b AG.
Last week, Capital One announced the 12 members of the its first-ever “All-America Mascot Team” to be featured in an upcoming television advertising campaign asking fans to vote for their favorite mascot to be named the “National Mascot of the Year” during the Capital One Bowl on Jan. 1st. Each of the 12 mascots will receive $5,000 for use in scholarship and funding of the school’s mascot program.
Bank of America reported this morning that card income was up 11%, driven by increased purchase volume. BofA ended the third quarter with $28.1 billion in outstandings, a 10% gain over 3Q/01. Pre-tax card income was $244 million for 3Q/02, compared to $239 million in the previous quarter, and $216 million one year ago. BofA’s charge-off rate declined from the second quarter, from 5.59% to 5.13%, but remains significantly higher than last year’s 4.81%. Delinquency improved across the board. For the third quarter BofA’s delinquency (30+ days) improved to 5.29%, compared to 5.54% in the previous quarter, and 5.63% one year ago. For complete details on Bank of America’s 3Q/02 performance visit CardData ([www.carddata.com]).
Oberthur Card Systems’ “SIMphonIC WIB v.1.2” is the first to comply with SmartTrust’s Web Internet Browser specification v.1.1 and v.1.2 and has been accepted into the “SmartTrust Certified Program”. The Oberthur browser card will be used with the SmartTrust Delivery Platform.
Tumbleweed Communications reported that a recent survey conducted by NFO Prognostics found that 68% of respondents feel e-mail is an important customer communications channel, where only 60% valued postal mail as an important way to communicate with customers, while the telephone was listed as the most important customer communications vehicle, with 86% listing it as important.
TSYS Debt Management has inked a deal to utilize Experian’s “Portfolio Management Package for Post Charge-off Accounts”. This solution helps collection agencies and financial institutions to better prioritize their post charge-off inventories.
Metavante and Arcot Systems have teamed whereby Metavante will use Arcot’s 3D Secure-compliant “TransFort” solution as a hosted solution to provide real-time payment authentication for the “Verified by VISA” program. With this announcement, Arcot now serves nearly all of the major credit card processors.
All six of the San Francisco Bay Area transit operators participating in the “Phase I” demonstration of the “TransLink” regional fare payment system have agreed to extend the pilot program while their respective boards decide whether to proceed with “Phase II”, which would involve implementation of the “TransLink” smart card system throughout the operators’ route and station networks. During the original six-month demonstration period that ended July 31, some 3,000 passengers tested the “TransLink” system on portions of the Bay Area’s rail, light-rail, bus and ferry network The six operators participating in the “TransLink” pilot program include AC Transit, BART, Caltrain, Golden Gate Transit, San Francisco Muni and the Santa Clara Valley Transportation Authority.
Drexler Technology Corporation has received an order for 24 of its
new LaserCard biometric identity verification systems and related software
and biometric analysis tools for use in a test program at Los Angeles and
Atlanta airports and at four Mexican border crossing points in Arizona,
California, and Texas, for biometric ID border crossing/tracking. These
LaserCard identity verification systems are designed to function with the
more than 5 million Drexler-manufactured “Laser Visa” Border Crossing Cards
issued by the U.S. Immigration and Naturalization Service (INS) and U.S.
Department of State since 1998. The Space and Naval Warfare Systems Center,
San Diego, will conduct the tests.