Chase Card Services and Marriott Rewards announced the launch of the Marriott Rewards Premier Visa Signature® Business Credit Card designed for small business owners who travel frequently for business or pleasure. With the Marriott Rewards Premier Business Credit Card, small business owners have the ability to earn accelerated Marriott Reward points on all purchases, accumulate free night stays, and receive automatic Silver Elite Status once they become a cardholder. The card also offers EMV chip-and-signature technology, charges no foreign transaction fees and comes with a variety of travel and business benefits. With the Marriott Rewards Premier Business Credit Card, small business owners have the ability to earn Marriott Rewards points at an accelerated rate. Cardholders will earn thousands of points for different increments spent on the card. The card also comes with travel insurance benefits, including trip cancellation, trip delay, lost luggage, baggage delay and auto collision damage waiver. Additional benefits include purchase protection insurance, including purchase security and extended warranty.
Chase Card Services and Marriott Rewards launched the “Marriott Rewards Premier Visa Card from Chase,” charging no foreign currency transaction charges on international purchases. Holders do not pay the 2.5% foreign currency transaction charge, after the exchange rate conversion is applied, on purchases outside of Canada-in person or online. The card also offers cardholders the ability to earn accelerated Marriott Reward® points on all purchases, accumulate free night stays, and receive automatic Silver Elite Status. “Marriott Rewards Premier Visa Card from Chase” cardholders will earn 5 points per $1 spent at over 3,500 Marriott locations; 2 points for every dollar spent on car rentals, dining, and airline tickets purchased directly with an airline; and 1 point per $1 spent on all other purchases.
Capital Bank has selected the Fiserv “Premier” bank platform and outsourced processing services. Until now, Capital Bank’s accounts were processed by an independent vendor that licensed Premier from Fiserv, but the bank has now chosen to deepen its relationship with Fiserv by outsourcing its account processing through a Fiserv service center. This will let the bank to benefit from a direct relationship with Fiserv, and take full advantage of the features available in Premier and related Fiserv solutions. As additional factors in its decision, the bank cited usability, integration and the Premier system’s scalability, which will be used to keep pace with Capital Bank’s growing footprint. The bank chose a comprehensive suite of Fiserv solutions that includes Consumer and Commercial Credit Full Service for credit card management, Retail Online™ and Business Online™ for online banking, Mobiliti™ for mobile banking, AccountCreateSM for online account opening, CheckFree® RXP® for retail and small business bill payment and Popmoney® for person-to-person payments.
Visa Canada and Marriott Hotels &
Resorts of Canada are partnering to offer guests a $25 Visa gift card for weekend stays
booked and paid for with a Visa card, between November 27th, 2008 and
March 29th, 2009. Over 50 hotels and resorts are participating
across Canada, including luxurious properties in Toronto, Montreal, Vancouver, Calgary and Halifax with many of the hotels
only moments from fabulous shopping, entertainment and
RapidAdvance has partnered with Humboldt Merchant Services to offer
small business merchants a cash advance solution for working capital
needed to expand their businesses. The cash advance solution allows
repayment from the borrowing business at an agreed upon percentage of
its future credit card receivables which is automatically transferred to
RapidAdvance until the contract obligation has been satisfied. The
program provides unsecured loans, for which 80% of applicants are
approved, and is designed to allow businesses the funds needed to
purchase such necessities as new inventory, new POS systems, seasonal
opportunities or reduce other financial obligations. MD-based
RapidAdvance provides businesses quick funding to merchants while
Humboldt Merchant Services provides businesses credit card processing to
organizations throughout the U.S.
MD-based cash advance provider RapidAdvance announced that Chairman and CEO Lee J. Jundanian has received the Ernst & Young “Entrepreneur Of The Year 2008 Award in the Financial Services”. RapidAdvance is a provider of merchant cash advances to small and mid-sized business owners looking to obtain additional working capital.The award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. Jundanian was selected by an independent panel of judges for demonstrating leadership, commitment to innovation, and integrity. Jundanian founded RapidAdvance in 2005, and today the privately held company has over 100 employees and operates throughout the U.S., Canada and the U.K.
RapidAdvance has purchased Merchant Cash Express payment card
factoring as its subsidiary, the latter providing the former a platform
from which to embark on the UK market. This comes on the heels of
RapidAdvance’s Canadian market entry, expansion to which the
organization credits its reputable and fair business practices with its
customers. These customers are composed mostly of merchants looking for
business financing to support their growth, purchase new inventory,
leverage seasonal opportunities or reduce other financial obligations.
Merchant Cash Express Limited has for over 50 years provided an
alternative funding to merchants for growth capital not available
through conventional sources.
Marriott Rewards members can now 25,000 Marriott Rewards bonus points when meetings and events are booked through the American Express Card. Qualified meetings and events must include 10 rooms booked for at least one night and/or catering-only events such as receptions, coffee breaks, banquets, weddings or teleconferencing. In order to receive bonus points, events require a signed contract and membership in Marriott Rewards. In addition, qualifying events must include a minimum payment of $5,000 on any American Express Card, excluding taxes and gratuities. Bonus points can be earned at over 2,100 Marriott International hotels around the world.
Trintech has reported a revenue of $9.64
million for the first calendar quarter of 2008, reflecting an increase of 31% over $7.4 million in revenue for
1Q/07, and an adjusted EBITDA net Income of $.4 million. Software
license revenue for the quarter was $4.9 million, a 40% over the
previous year 1Q thanks to EMEA and its acquiring Movaris, while service
revenue was up 22% to $4.7 million, thanks also to EMEA and Movaris
business revenue. Additional figures disclosed include Trintech’s
increased expenditure in research and development by 17% from 1Q/08 to
$1.5 million and increased expenditure in sales and marketing by 22%,
also from the corresponding quarter last year.
Marriott Rewards is granting wishes for Silver, Gold and Platinum Elite members to create personalized rewards with its “Redeem for Anything” program. Members can now redeem points for anything they want. Marriott Rewards members can earn and redeem points for over 2,800 hotels in 65 countries around the world. Marriott Rewards points may also be redeemed for frequent flyer miles, cruises, car rentals, brand-name merchandise and more. Awards start at 50,000 points.
According to a new survey from the Association for Financial Professionals, the incidence of payment fraud increased between 2006 and 2007 with nearly 71% of respondent organizations having indicated either attempted or successful acts of fraud throughout the year. Moreover, findings showed that large organizations were more likely to have been targets of payments fraud than were smaller organizations, with 81% of organizations of over $1 billion in annual revenue were victims while only 58% of organizations with annual revenues under $1 billion were victims, 94% of respondents indicated attempted or actual check fraud and of the establishments surveyed, the median financial loss to payment fraud was $13,900. In response to this, preventative efforts being taken include Segregating responsibilities among different employees, using multi-factor authentication tools, deleting online user IDs and assigning dual system administrators for online cash management services.
RapidAdvance and Advantex have partnered to provide working capital
for Canadian businesses with the “RapidAdvance merchant cash advance
program”. The partnership will focus on the selling and marketing of the
program in the Canadian marketplace to provide businesses with working
capital, subsequently helping many reach business goals. On a macro level,
this is in response to the growing difficulty many are experiencing with
obtaining credit across the country. These respective businesses will
collateral security through business holdings in return for loans with high
approval rates which are offered in lump sum advances and deposited
into the merchant’s business checking account. RapidAdvance provides merchant cash advances to business owners,
while Advantex provides merchants with marketing and sales prospects
through its marketing model.