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VA-based Intersections, a specialist in identity theft protection and credit management services, this week reported that net income for the first quarter declined 18% to $1.8 million due to unexpected events such as a software impairment charge. During the quarter, total subscribers increased to approximately 2.98 million compared to 2.89 million at year-end. Subscription revenue increased to $23.6 million for the first quarter from $22.9 million for the fourth quarter, and from $19.1 million for 1Q/04, increases of 2.9% and 23.6%, respectively. For complete detail on Intersections’ first quarter results, visit CardData ([www.carddata.com]).
Lloyds TSB has teamed with American Express to issue its own range of credit cards utilizing the American Express Network in the UK. Lloyds will create the products, issue the cards and manage the customer accounts, billing and credit management. The first in this new line of credit cards will launch later this quarter. Lloyds will introduce a new rewards program that enables cardholders to earn points that can be redeemed for vouchers at some of the UK’s leading retailers. The new card will also provide exclusive access to unique benefits offered by American Express, including special merchant offers and global customer support. Lloyds TSB has 16 million customers, over 2,000 branches and, more than 6 million credit card customers.
The Taipei Smart Card Corporation has renewed the ASK contract for “Easy Card” contactless cards based on Mifare chips. Launched in 2000 when ASK made a first delivery of 500,000 cards, the project gradually spread over the city for mass transit in buses, metros, public off-road car parking lots and taxis. TSCC involves Taipei City government, Taipei Rapid Transit corporation, 13 private bus companies and several banks. “Easy Card” is based on ASK’s unique technology of silver ink printed antenna on a paper inlay and die attach process.
American Express has released a new “Global Business Traveler Survey” of more than 1000 business travelers which shows that 86 percent of business travelers expect to see an increase in business trips over the next year. The survey also found that while a majority of business travelers are comfortable with their personal safety and security while traveling, they valued security assurances such as online visa/passport support and travelers insurance. American Express Travel Related Services Company, Inc. recorded $18 billion in worldwide travel sales in 2004.
Indian Airlines and Citibank have teamed to offer an equated monthly installment program. Consumers can make payments in ten interest free “EMIs.” The EMI tickets can only be purchased through Indian Airlines offices in Bangalore, Chennai, Delhi, Hyderabad, Kolkata and Mumbai. The deferred payment option is available for any Indian Airlines or Alliance Air Domestic/International economy class service on a rupee tariff.
Moneris Solutions’ Jim Baumgartner, President and CEO, has been selected as the Electronic Transactions Association “Member of the Year.” ETA is the international trade association serving the needs of
organizations offering payment processing products and services. The
“Member of the Year” award is presented to a current member who embodies
the true spirit of ETA by demonstrating exemplary leadership skills
while contributing time, effort, and ideas that have resulted in
significant contributions to the success of the association.
Toyota’s Lexus Financial Services is launching its first-ever Lexus credit card in June. The “Lexus Pursuits VISA” will award cardholders 1.5 points for every $1 of net purchases and 5 points for every $1 of net purchases at a Lexus dealership. The awards can be redeemed for a maximum of a 10% discount on a new Lexus and can also be used toward parts, service and boutique items at a Lexus dealership. Cardholders may also choose to opt for the “Lexus Pursuits Travel Program” and redeem points for airline travel. Executives say the new card is aimed at rewarding existing Lexus customers and bringing new customers into the Lexus family. Toyota launched the Lexus brand in 1989.
Dallas-based ACE Cash Express posted first calendar quarter net income of $9.9 million, compared to 1Q/04 net income of $8.2 million. The total ACE store network, including franchised stores, had a record 10.3 million customer visits and processed approximately $3.1 billion in transactions. ACE Cash Express, Inc. is a leading retailer of financial services, including check cashing, short-term consumer loans and bill payment services with a network of 1,331 stores nationally.
American Express Business Travel’s new Global Business Traveler Survey reveals that business travelers have a wide range of preferences and perspectives on topics ranging from the value of rewards programs to the components that comprise an ideal business trip. The majority of survey participants take advantage of reward programs
when traveling for business. When it comes to the types of programs they
utilize, 63% participate in frequent flyer programs with
airlines, with a high of 83% in the U.S. and 80% in
Canada. France has the lowest rate of participation in frequent flyer
programs, at 44%. The most preferred types of rewards are airline
tickets (67%), followed by hotel stay (52%) and car rental (36%).
The findings came from a survey of more than 1000 business travelers in ten countries around the world.
California-based CO-OP Network has promoted Kathy Herziger to VP/Product Development; Carol Kosaka to VP/Systems and Support; and Connie Trudgeon to VP/Operations. CO-OP Network is wholly-owned by its credit union shareholders a With more than 1,790 credit union members, 19,500 surcharge-free ATMs, 80 million-plus monthly transactions and 21 million cardholders.