NJ-based United Bank Card is now offering “Nurit 8320” terminals free of charge, in a move designed to provide ISOs with a method to attract new merchants. United Bank Card is also offering a free “Ingenico eN Check 2500” check reader and a free “E-Pad” signature capture system, providing merchants with a full payment solution. UBC says that there are no hidden fees or long term contracts. This program will not be funded by alterations to the full residual program and United Bank Card is paying an additional $100 up-front bonus per merchant application to counteract the loss to ISOs from not selling or leasing terminals. The “Nurit 8320” is the flagship of the Nurit family of terminals and is an all-in-one payment device, supporting all major credit cards and a range of functions on one secure multi-application platform. It contains a built in printer and pin-pad and is the preferred terminal for small and medium-sized businesses.
NCR has developed a gimzo to thwart card skimming and card trapping at ATMs. The new “Fraudulent Device Inhibitor” is placed in front of the entrance to the ATM card reader and is designed specifically to prevent an ATM customer from inserting his or her card into the machine if a trapping device has been added to the card reader. NCR’s countermeasure device has a number of unique features, including a hologram built into the design that makes it more difficult to replicate. The introduction of illumination behind the countermeasure device also makes any attempt to attach a fraudulent device even more visible. The “Fraudulent Device Inhibitor” can be used in conjunction with NCR’s patented “Enhanced Card Drive,” also known as “jitter.” The introduction of a stop-start, or jitter motion, is designed to distort the magnetic stripe details being copied by the criminals’ device.
MasterCard is expecting its first roll-out of the new “OneSMART MasterCard Retail package, using Welcome Real-time’s “XLS” software on a “MULTOS” chip platform. The roll-out by Reykjavik Saving Bank (SPRON) in Iceland will be based on their successful multi co-brand program called “Ekort.” Launched in February, with nearly 200 retailers, SPRON and its partners are looking to leverage their EMV investment. For the launch, SPRON will be working with leading retailer Hager, with 58 stores across the country. “OneSMART MasterCard Retail” is a powerful chip package that combines payment, loyalty, and cardholder preferences management in a single point of sale transaction using MODS (MasterCard Open Data Storage(TM)) features. This single system application allows cardholders to receive on-the-spot loyalty bonuses and customized offers from participating retailers, based on preferences the consumer opts in to, which are stored on his or her payment card.
FL-based Credit Union 24 and PA-based Genpass have inked an alliance wherein participants in CU24’s “CU HERE” surcharge-free program and “MoneyPass” participants will be able to obtain surcharge-free ATM withdrawals at each other’s ATMs. This alliance allows surcharge-free ATM access for CU HERE’s 5.5 million cardholders at more than 11,000 ATMs nationwide. The alliance not only adds 2,800 ATMs to those ATMs that “MoneyPass” cardholders may access surcharge-free, but brings the total number of cardholders that can obtain “MoneyPass” & “CU HERE” surcharge-free ATM transactions to more than 12 million. Credit Union 24 provides ATM & POS network services to more than 410 credit unions in 23 states. Genpass is the second-largest ATM driver in the USA.
Equitable CardNetwork in the Philippines has launched a new JCB credit card with a unique installment plan tailored to the ordinary worker’s salary payment cycle, as well as a reduced annual fee. The new “EasyPay JCB Card” allows cardholders to pay for every purchase in four equal payments, twice a month over a period of two months, since salaries are paid every two weeks in the Philippines. The card also carries an annual fee that is one-third of the average annual fee of other credit cards. Currently, there are approximately 4 million people with credit cards in the Philippines, about 5% of the total population, but most of these are from the top layer of the affluent classes. The “Easy Pay JCB Card” features are targeted to a much wider market, and ECN anticipates issuing 30,000 of the “EasyPay” product in the first year. Card marketing will be supported by newspaper, radio and public transit advertising. JCB cards are now issued in 18 countries and territories, with 51.6 million cardmembers.
Simon Barnes, previously Indala director of sales for EMEA, has been promoted to VP of product management. Mr. Barnes will be responsible for creating and implementing product strategy to exceed customer demands and corporate objectives. Barnes is a veteran of the security industry with over 20 years of experience. Indala Corporation develops and manufactures 125 kHz proximity, 13.56 MHz contactless and contact smart cards and associated readers for physical and network access-control applications.
Canadian Tire Financial Services reported that its net managed credit card receivables, for the third quarter, increased 25% year-over-year to $2.7 billion, driven by a 26% increase in “Options MasterCard” average balances to $1,483. Pre-tax earnings rose 38% to $36.7 million. However, the average number of accounts with a balance declined slightly during the quarter primarily due to the sale of the commercial and PartSource credit card portfolios, a short-fall in in-store applications and adjustments to account approval standards over the first six months of the year. During the quarter, Financial Services tested a new personal (term) loan product targeted to existing credit card customers which added approximately $70 million in receivables at the end of the quarter. In addition, in the third quarter CTFS partnered with BMO Bank of Montreal to launch the new “Canadian Tire Commercial Link MasterCard” to replace the existing commercial card. Active commercial accounts are held by more than 50,000 Canadian Tire business customers. For complete details on Canadian Tire Financial Services’ third quarter performance visit CardData ([www.carddata.com]).
MN-based Datacard Group, a company that offers secure ID and card personalization solutions, has elected Lars Nyberg, non-executive chairman of NCR, to its board of directors. Mr. Nyberg has held other positions with NCR as well as with Philips Electronics. He is currently a chairman of Micronic Laser Systems AB. He was born in Sweden and has a degree in business administration from the University of Stockholm.
ExpensePath Software has launched subscription pricing for its “P-Card Web Solution” product, driving the fee down to as little as $7.50 per user annually. ExpensePath provides systems needed for sound financial management and relevant cost reduction as well as comprehensive control of Purchasing, Travel, and Fleet card transactions. The Company was founded to provide enterprise corporate credit card management solutions that assist companies in automating workflow. ExpensePath’s P-Card Web Solution reduces costs and increases the amount of information about P-card transactions.
Capital One officially announced its new “PrimeLock” card yesterday, a card offering a prime +0% APR with no annual fee. The new card’s interest rate always equals the prime lending rate, so consumers no longer have to check their rates and switch cards to obtain a competitive rate. The card offers savings by having no balance transfer or cash advance fees, no annual fee, and zero liability for fraudulent or unauthorized charges to the card. Consumers can also customize payment dates. Capital One is a Fortune 500 company and one of the largest providers of Visa and MasterCard credit cards in the world.
Petco Animal Supplies has reached a settlement with the FTC over security flaws in its Web site that allowed hackers to access consumer records, including credit card numbers. The Web site was vulnerable to Web-based application attacks. Under the settlement, Petco is prohibited from misrepresenting its protection of consumer information. Petco must establish and maintain a comprehensive information security program and arrange biennial audits of the program by an independent third party. Furthermore, the settlement includes record- keeping provisions that allow the FTC to monitor Petco’s compliance.
Equitable CardNetwork has launched a new JCB credit card with a unique installment plan tailored to the ordinary worker’s salary payment cycle, as well as a reduced annual fee. The new “EasyPay JCB Card” allows cardholders to pay for every purchase in four equal payments, twice a month over a period of two months, since salaries are paid every two weeks in the Philippines. The card also carries an annual fee that is one-third of the average annual fee of other credit cards. Currently, there are approximately 4 million people with credit cards in the Philippines, about 5% of the total population, but most of these are
from the top layer of the affluent classes. The “Easy Pay JCB Card” features are targeted to a much wider market, and ECN anticipates issuing 30,000 of the “EasyPay” product in the first year. Card marketing will be supported by newspaper, radio and public transit advertising.