Detroit-based Graphite Payments is offering the necessary hardware to help merchants handle the changes to payment processing standards in the U.S. As of October 1, merchants who have not transitioned to the new, higher security EMV card standard will be responsible for a larger share of the cost in the event of fraud or a customer data breach.
Detroit-based International Bancard has ankled Kimberly Tippin as its Vice President of Operations. Tippin brings 20 years of experience to the company’s client service team.
Detroit-based International Bancard has ankled Joshua Dean as its Chief Marketing Officer. Dean brings 15 years of business, technology, and executive experience to the Company.
Detroit-based Rock Processing is here, the brainchild of Rock Ventures, the Quicken Loans family of companies and International Bancard.
A new survey from Moneris, a major global acquirer, found 69% of Canadians and 80% of Americans have recently received outstanding service from tradespeople, such as plumbers, electricians or landscapers, employed by small and mid-sized businesses.
Shan Mehta has been appointed to the Bling Nation management team. In his new role, Mehta will lead Bling Nationâs strategic alliances, will focus on the development of prospective strategic partnerships for the company, and maintaining and expanding existing relationships. Shan was the owner of Detroit-based Evigna promotional merchandise distribution company, where he was instrumental in the acquisition, restructuring and strategic direction. Prior to this, he served as an analyst for New York-based Princes Gate Investors, a Morgan Stanley private equity fund, where he focused on venture investments in enterprise software, storage and semiconductor companies. He also worked as an investment associate at Chicago-based GTCR private equity firm, where he evaluated potential investments in software and service companies, and is a partner at CITG Capital Partners, an investment firm based in Michigan.
Trintech Group integrated financial governance, transaction risk
management, and compliance solutions has announced revenues of $10.0
million for 3Q/09, an adjusted EBITDA net income of $1.4 million and net
income for the quarter of $512,000. Revenue fell 1% while EBITDA was up
from a net income of $550,000 from the year ago period with cash
balances of $18.9 million having generated just over $1.0 million cash
for the Q3/10 fiscal year. Meanwhile, gross margin amounted to $6.7
million in Q3 of the 2010 fiscal year, representing 67% of revenue,
compared to $6.5 million representing 64% of revenue in Q3 of the prior
year. Total gross margin was $6.7 million, an increase of 3% from $6.5
million in the corresponding quarter in the prior year, and total
operating expenses for the third quarter ended October 31, 2009 were
$6.2 million, a decrease of 15% from $7.2 million in the corresponding
quarter in the prior year primarily due to headcount reductions and
lower salary costs. During the quarter, Trintech announced that Amplifon
(UK) had selected its “ReconNET” software for financial process
compliance, a component of Trintech’s Unity platform, and that OSM
Corporate Services selected its “AssureNET Express” software for
financial process compliance, a hosted component of Trintech’s Unity
Detroit-based Comerica Bank has added a “Consumer Protection Resource Center” to its website. The Resource Center is designed to educate consumers on some of the ways they could become victims of fraud and provides information on common fraud scams, privacy, frequently asked questions and contacts for reporting suspicious activities, provides safety tips for ATM and debit cards, credit cards, online banking, laptops, computer/Internet use and e-mail. Comerica has also developed an Internet Fraud Protection brochure containing tips on how to prevent Internet fraud and definition of common types of Internet fraud, such as phishing, pharming and spoofing. The Resource Center can be accessed by going to http://www.comerica.com and clicking on Consumer Protection Center. Comerica Incorporated is a financial services company with total assets of $58 billion at December 31, 2006.
Detroit-based Comerica Bank has introduced new debit cards that earn “WorldPerks” miles for signature-based purchases. The new “Comerica WorldPerks Check Card” and the “Comerica WorldPerks Business Check Card” offers two earning options. The “Standard Award” options has a $20 annual fee and earns one mile for every $2 spent. The “Enhanced Award” option has a $55 annual fee and earns one mile for every $1 spent. The business debit card has a $55 annual fee and earns 1 mile for every $1 spent. cardholders receive 1,000 “Bonus Miles” for signing up. Miles earned through the program can be redeemed for travel on Northwest Airlines, and their “SkyTeam Global Alliance Partners” and other “WorldPerks Airline Partners.” Comerica say it plans to further expand its check card rewards program in 2007.
Detroit-based Little Caesars has rolled-out new a new set of gift cards to replace traditional paper gift certificates. Consumers can purchase the gift cards in any increment at participating Little Caesars stores. The unused balance will remain on the card, and there is no expiration date. In addition, there are no service fees. Little Caesars Pizza founders Michael and Marian Ilitch opened their first restaurant in Garden City, Michigan in 1959.
Detroit-based Comerica Bank is piloting voice-guidance ATMs for the visually impaired. With the voice-guidance ATMs, customers simply plug a standard set of headphones into the ATM’s headphone jack to hear instructions in English or Spanish. Comerica worked with representatives from Leader Dogs for the Blind to make the new ATMs as “user friendly” as possible for the visually impaired. Instructions will be provided for any ATM transaction being conducted, such as a deposit, withdrawal, balance inquiry or payment. Comerica Bank has 240 banking centers and 379 ATMs in metropolitan Detroit, Ann Arbor, Battle Creek, Grand Rapids, Jackson, Kalamazoo, Lansing, Midland and Muskegon.
Detroit-based Allow Card of America has launched the “Allow Card Prepaid MasterCard” for teenagers. The card is issued by First Bank & Trust, Brookings, SD. The heart of the “Allow Card” program is its online portal whereby parents can load funds to the card from any credit card or checking account, anytime. The Web site offers over 35 parental controls, allowing parents to set parameters for their teens spending. The site even allows parents to lock out specific merchant categories, so teens can’t spend money at undesired locations. The Web site also features a variety of constantly-updated online financial lessons helping to break the bonds of financial illiteracy among youth.