Sarasota, FL-based Morgan Beaumont has launched the Morgan Money Card which offers money transfers, cash access, and POS purchases anywhere the Maestro, Cirrus, and Virtual Money Networks cards are accepted. Applicants are not required to have a bank account or social security number, or to be a citizen or resident of the United Sates. Funding the Morgan Money Card can be done as often as needed at any Western Union location or other approved Morgan site, or by mailing a cashier’s check or postal money order. Funds can also be added by using a credit or debit card at Western Union, on the Internet or by telephone.
Due to the changing perception of “dot.com” companies over the last year, shareholders of Toronto-based SLMsoft.com Inc. have approved a name change to SLMsoft Inc. The Company also announced a new CFO, Khurram Qureshi, and the appointment of two new board members Eddie Law and Dr. Doobay. SLMsoft provides real-time end-to-end e-banking solutions that include Internet banking, interactive voice recognition, debit and credit card issuing, automated teller machines and point-of-sale network management, retail branch management, and e-CRM enabling technology.
Certegy has signed an exclusive agreement with Staples to provide a comprehensive range of check risk management and loss prevention services for retail and mail order operations nationwide. Certegy services more than 329,000 merchant retail outlets in North America, Europe, and Asia Pacific. Staples has approximately 50,000 associates serving customers through more than 1,400 office superstores, mail order catalogs, e-commerce, and a contract business.
OH-based Gasper Corporation has promoted Jeff Davison to president of the company to succeed David Gasper, who will remain chairman of the board of directors. Davison will manage the company’s day-to-day operations in cooperation with the current executive management team. He will also work with the board of directors to develop strategic plans. Davison joined Gasper Corporation in 1989. Prior to his most recent executive post, he served as Vice President of Development, software development manager, and lead software engineer.
ABN AMRO Merchant Services has inked a deal with Arlington Hospitality, Inc. to provide authorization and settlement services for all VISA and MasterCard transactions accepted at 78 corporate-owned and managed hotel properties in 16 states including 66 AmeriHost Inn hotels. Arlington Hospitality is a publicly traded company engaged in the development, construction, ownership, operation and management of AmeriHost Inn hotels and other mid-price hotels.
Seoul-based Kookmin Bank is set to become the largest credit card company in Korea as it consolidates its operation. Formed in November, Kookmin Bank is the result of a merger between Housing & Commercial Bank and Kookmin Bank. Kookmin Bank manages and owns the former H&CB card portfolio but is now set to merge its Kookmin Credit Card Co. with the H&CB portfolio. The combined portfolio would hold more than 10 million cards and total annual volume of US$100 million. The Hankook Ilbo newspaper says the card operations would hold a 24% marketshare.
Coinstar has named Robert Sznewajs, formerly president of the Credit Card Division of Bank of America, to its board of directors. Mr. Sznewajs is president and chief executive officer of West Coast Bancorp the largest locally owned bank holding company in Oregon. His past experience includes serving as vice chairman of US Bancorp and as president of the Credit Card Division of Bank of America. He currently sits on the board of directors of West Coast Bancorp. Mr. Sznewajs previously served on the board of directors of STAR and PLUS ATM networks and VISA USA. He also served on VISA USA’s marketing and product development and international ATM committees.
London-based Logica and Teleconomy released a report that says the UK public are more prepared to supply personal details for use in public sector smart card schemes than for corporate initiatives. And when it comes to an “all-in-one” card, half the UK population find it appealing, especially if the Government is involved. According to the survey, 55% of Brits would be happy to use a card that performed a number of functions. Most popular combinations were the merging of debit and credit cards, where 40% would be likely to use a combined card. More than one in three people would be willing to carry a combined ID card and driving license. Respondents expressed most interest in adding additional functions such as transport ticketing, ID and membership to bank cards. Healthcare details on a card would be welcomed by 68% of people, and an ID card and library card were both accepted by 66% of the UK population. Cards that would enable travel on public transport were close behind at 64%.
Bank of America announced this morning it is adding the VISA brand to its existing CashPay payroll card. BofA has offered the prepaid card since 1998. Other new enhancements to the standard features of the card include the ability to transfer funds to a checking or savings account. Trammell Crow Residential, with 2,300 employees in 20 states, is a current CashPay client. VISA USA introduced the VISA Payroll card last July. Besides Bank of America, VISA Payroll cards are offered by Bank One, First Tennessee, FleetBoston and U.S. Bancorp. (CF Library 7/25/01)
Gemplus and iPIN are teaming to launch a SIM-enabled mobile payment platform for pre-pay market. GeM-Reload powered by iPIN fuses Gemplus’ SIM card technology and OTA platforms with iPIN’s Enterprise Payment Platform. Gemplus will provide a user-friendly interface on the handset through the implementation of STK technology. The iPIN EPP will offer the comprehensive payment functionality that manages the complete payment lifecycle, including transaction capture, authentication, authorization, accounting, settlement, reconciliation and customer care. When Telco operators decide to expand m-commerce initiatives beyond pre-paid top-up, they can leverage iPIN’s scalable, plug-in architecture and add functionality in areas such as content charging and cash replacement for payments at the POS.
Nashville-based Central Parking Corporation and OH-based JAYD have signed a deal to deploy JAYD’s smart card technology in the greater Boston area. Electronic payment cards aim to enhance convenience for Central Parking’s customers by replacing cash with a plastic card encoded with a credit balance or charge account information. As it deploys the technology, Central Parking Corporation will acquire a minority ownership interest in JAYD. Central Parking Corporation operates approximately 4,000 parking facilities containing approximately 1.5 million spaces at locations in 38 states, Europe, and other areas of the world.
Ghana-based Transaction Management Services is using technology from S2 Systems to provide the first domestic online debit card POS services in West Africa. TMS, which is using S2 Systems’ open, flexible transaction solution OpeN/2, will provide the central processing services, EFT switch, POS management and interfaces necessary to support online bank cards. The first product to utilise the new system will be the domestic debit card “E-Card,” launched by three of Ghana’s 14 banks – Ecobank, CAL Merchant Bank and The Trust Bank. The TMS system, which is the most technically-advanced transaction processing environment in West Africa, will initially use a closed private radio network to connect point of sale devices with OpeN/2. This will soon be extended to support fixed line connections within the next year.