NextCard Flooz

NextCard and have formed a strategic e-commerce marketing alliance. NextCard also announced it has made a significant minority investment in It is the first equity investment in an e-commerce company by NextCard. Under terms of the deal NextCard will integrate’s online gift currency into NextCard’s e-Commerce platform, cardholder services and ongoing promotions. In addition, Flooz will exclusively market and promote the NextCard to its customers and pay NextCard a referral fee for each new Flooz customer generated from either NextCard’s application process or current cardholder base.

Adams Re-Joins AMS

American Management Systems announced Tuesday that Paul E. Adams re-joined the company as vice president of strategic business ventures within the Consumer Financial Services Group. In this capacity, Mr. Adams will develop new ventures and opportunities synergistic with the group’s focuses in customer relationship management, electronic commerce and consumer credit management, as well as develop wholly new targets of opportunity.

“In the last two years, we have successfully launched several new ventures and partnerships, strongly positioning AMS in new growth areas in financial services such as the ASP market,” said Sandra L. Devine, general manager of the firm’s Consumer Financial Services group. “We have an explosion of ideas in incubation stages, and Paul’s leadership and forward thinking perspective will enable us to rapidly get the best of these new ventures to market.”

One of Mr. Adams’ initial focuses will be to expand AMS’s leadership in the area of online consumer credit. “The financial services industry is poised for explosive growth in the area of interactive credit,” said Mr. Adams. “AMS has already made great strides in meeting these new demands for its clients and has strategic partnerships in place to capitalize on this trend. This, coupled with the terrific team AMS has in place, made the decision to return to the company an exciting one.”

Mr. Adams has more than 20 years of experience in the financial services industry. He first joined AMS in 1987, where he focused his business development efforts on the company’s strategic clients and was instrumental in building AMS’s Credit Risk Management Practice. Most recently, Mr. Adams was Director of Sales and Marketing with Affinity Technology Group, Inc. Prior to joining AMS, Mr. Adams led the sales efforts for automated credit systems at the Fair, Isaac Companies. Mr. Adams is a frequent speaker at industry conferences on the subject of credit management and the application of new technologies.

About AMS

AMS is an international business and information technology consulting firm — one of the 20 largest such firms worldwide. AMS is the premier provider of next generation enterprise business and technology solutions that dramatically improve business performance and create value for clients. AMS’s suite of eBusiness strategy, management and technology services make business reinvention possible in Internet time for large organizations. Founded in 1970, AMS is headquartered in Fairfax, Virginia, with over 8,000 employees and 57 offices worldwide. AMS had 1998 revenues of $1.06 billion, with eBusiness- related revenues representing 20%, an increase of almost 150% over 1997. Forbes magazine ranked AMS among the best-performing big companies in the U.S. in their “Best of the Biggest,” and FORTUNE magazine placed AMS on its list of the “100 Best Companies to Work for in America” in 1999.

AMS is traded in the Nasdaq over-the-counter market under the symbol AMSY. AMS can be found on the World Wide Web at


National InterBank began full operation of its online, Internet-based consumer bank yesterday. The new Internet bank offers no-fee banking which includes no-fee interest checking accounts, no-fee Money Market savings accounts, free online bill payment services and a no-annual-fee credit card. Additionally, the bank provides free ATM/Debit card replacement, free cashier checks, free stop payments, and free account research services, such as past statement reprints and copies of cleared checks. National InterBank also reimburses customers $6 per month for fees incurred during any ATM transaction.

Input Japan Deal

San Jose-based Input Software announced an agreement with Japan’s Wanbishi Archives Co. Ltd. whereby the two companies announced full-scale deployment of InputAccel for a project to digitize more than ten million credit card applications for Japan’s largest credit card company. The result is instant information access online, allowing customer service representatives to quickly verify customer seals, signatures and other personal writing descriptions, and respond instantly to customer inquiries by phone.

Concord eBiz

Concord EFS announced Monday it has completed the acquisition of Virtual Cyber Systems, an Internet software development company. VCS’ core software product, ‘SiteMerger’, is a key element in the entry-level product in Concord’s family of vertically integrated e-commerce services.

Joseph to NOVA Board

NOVA Corporation announced Monday that Pamela A. Joseph, Senior Executive Vice President and Chief Information Officer of NOVA Corporation, has been appointed to the Company’s Board of Directors. Ms. Joseph’s addition to the Board increases NOVA’s Board of Directors to a total of eight directors.

“Since joining NOVA in 1994, Pam has worked in nearly every area of the Company and she has played a major role in our growth and ongoing development. No one in our Company knows the business as well as Pam, and no one has contributed more to our success,” said NOVA Chairman and Chief Executive Officer Edward Grzedzinski. “She joined us as part of our sales and marketing organization, and with her strong leadership her role has increased to include our technical organization and operations. Pam’s strong vision contributed to NOVA’s technological advancement and played a key role both in directing NOVA’s early participation in Econex, LLC, and as the point person in developing NOVA’s value-added Internet strategy for small merchants. The knowledge and experience she brings to our Board will be invaluable as we pursue our strategies for growth in our core processing business, the Internet, and as we look internationally for new opportunities,” Grzedzinski concluded.

Ms. Joseph’s background includes nearly three years with VISA International where, as the Director of New Market Development, she was responsible for establishing VISA card acceptance in the supermarket industry. She joined NOVA in 1994 as Vice President of Marketing and was promoted to Senior Vice President of Business Development one year later. She was appointed Executive Vice President and Chief Information Officer in 1997, and promoted to Senior Executive Vice President last year. Ms. Joseph is a graduate of the University of Illinois, with a major in business administration. She currently lives in Roswell, Georgia with her husband and two children.

“The fast pace and strong growth environment at NOVA provides a unique opportunity to develop and contribute at a level that most companies simply cannot offer,” Ms. Joseph said. “I look forward to the new challenges and being part of a company that is dedicated to being an industry leader in the provision of electronic commerce services.”

NOVA Corporation, headquartered in Atlanta, Georgia, manages and transports payment and other business information on behalf of retailers, community banks and regional financial institutions. NOVA specializes in providing integrated credit and debit card payment processing services, related software application products and value added services to more than 500,000 merchants in the U.S. NOVA merchant customers typically include small- to medium-sized merchants requiring a full spectrum of processing services. For more information on the Company, visit: [][1].



PULSE and First Tennessee Merchant Services announced Monday they have joined up to offer merchant processing services to PULSE member banks. Banks electing to utilize First Tennessee for merchant processing will incur no start-up or membership fees and receive customized monthly reports indicating total volume, rates and number of merchants.


Miami-based TecniCard announced this morning it is launching the first Central American virtual credit card payment solution. The new solution is powered by Trintech’s ‘NetIssuer/ezCard’ solution. TecniCard Inc. issues, acquires and processes credit cards on behalf of 25 leading banks in Central America. TecniCard, through its subsidiaries in Nicaragua, Costa Rica, Guatemala, El Salvador, and Honduras, offers merchant processing services. Its processing infrastructure covers almost all countries from Panama to Belize, including ATM Networks in Nicaragua and Honduras.

Dec Debt

Revolving consumer credit continued to expand at a modest rate during December. According to preliminary figures released Monday afternoon by the Federal Reserve, Americans piled on more than $4 billion in outstanding revolving credit during December. Since July, revolving consumer credit, mostly credit card debt, has grown by $8.5 billion. Overall consumer credit is now growing at a 9.7%, according to the FRB. At the end of December American consumers were $1.399 trillion in debt, exclusive of home mortgages.

Dec99 Nov99 Oct99 Sep99 Aug99 Jul99 Jun99 May99 Apr99 Mar99 Feb99 Jan99
%GRWTH: 8.4% 9.0 -0.5 0.0 2.5 12.1 13.8 4.5 5.6 -0.9 3.4 11.6
$OWED: $592.8 588.7 584.3 584.5 584.5 584.6 578.5 572.2 569.9 567.3 567.5 565.9
Source: Federal Reserve; revised figures as of 2/07/00; For
complete historical data visit

Mobile VISA

E-commerce via mobile phones took a closer step to reality this morning as VISA International and Nokia announced a cooperation agreement to introduce payment solutions for mobile electronic commerce. Under the agreement, Nokia and VISA will introduce a standardized means of making secure payments using a mobile phone, meeting different market requirements for security, risk management and dispute resolution. As well as conducting joint marketing and business development activities, Nokia and VISA will collaborate to simplify the payment process by developing a mobile e-wallet. Nokia will also provide server applications based on WAP which will transmit payment data securely over wireless networks to financial institutions. A pilot of the technology will take place later this year with MeritaNordbanken in Sweden and Finland. Nokia is developing and testing various implementations of secure card payments in the mobile environment, including a pilot of VISA card payments via the dual-chip GSM mobile phone.

Bank of America confirmed this morning it was the winning bidder in the online auction for the domain name: [][1]. BofA paid $3 million for the rights to the World Wide Web address on Jan 28. The domain name was owned by Marcello Siero. The promotion and sale of the name were handled by of Universal City, CA. BofA says it will use the domain name to market loans and lending services to millions of new customers over the Internet. The bank currently has $370 billion in outstanding loans and more than two million online customers.