Austin, TX-based Mobile Evolution has released a new suite of mobile credit card processing solutions including “ccFone,” “ccWeb,” and “ccVoice.” The new mobile credit card processing solutions allow transactions to be quickly and inexpensively approved over digital wireless phones, a simple Web interface or voice lines.
Hypercom announced that the “Optimum M2100” card payment terminal for merchants and service providers in Europe, the Middle East and Africa is now available. The “M2100” is an always-on, battery-operated,
easy-to-carry terminal that accepts both magnetic stripe and smart
cards. It offers a full range of wireless connectivity options, EMV and
Visa PED security certifications, long battery life, and the ability to
withstand outdoor as well as indoor use. The compact handheld wireless
high-speed device offers fast, secure, mobile point-of-sale transaction
functionality for restaurants, delivery services, car rental companies,
sports stadiums, medical facilities, kiosks and other businesses that
require non-stationary payment systems.
GE reported that profit for its Consumer Finance unit climbed 19% in the third quarter to $810 million as GECF revenues hit a record $4.9 billion, a 22% increase over 3Q/04. During the quarter, GE signed an agreement to acquire 43% of Korea’s Hyundai Card and reached an agreement to acquire 25.5% of Turkey’s Garanti Bank. The Company also entered into an agreement with Ikea to offer private label credit cards to its customers in the U.S. and signed an agreement to acquire the RV and Marine Financing unit of E*TRADE. Additionally, GECF launched India’s first consumer appliance co-branded card with State Bank of India and LG Electronics and signed a deal with eBay in Germany to provide financial services to eBay’s 15 million German users. In late August, GE applied to Canada’s Minister of Finance to set up a bank under the name GE Money Bank Canada. For complete details on GE’s third quarter performance, visit CardData ([www.carddata.com]). (CF Library 8/30/05)
GE CONSUMER FINANCIAL TRACK RECORD
3Q/04: $681 million $4011 million
4Q/04: $637 million $4304 million
1Q/05: $735 million $4689 million
2Q/05: $735 million $4928 million
3Q/05: $810 million $4913 million
Source: CardData (www.carddata.com)
TransUnion’s TrueCredit said it has signed up more than 40,000 consumers for its new “3-Bureau Credit Monitoring” service. The service was launched six weeks ago when all the bureaus were required to offer free reports nationwide. The free reports were mandated by Congress in “The Fair and Accurate Credit Transactions Act of 2003.” All three credit bureaus have introduced additional fee-based services to offset the cost of the free report service. TrueCredit’s “3-Bureau Credit Monitoring” offers unlimited access to reports and scores for $9.95 per month. In late August CardFlash reported that the TransUnion monitoring service was suspended after staff members trying to purchase the service were notified that “credit monitoring services were currently unavailable.” However, TransUnion insists the technical problems with the service affected a very small percentage of cardholders. Yesterday, TransUnion says it estimates that 99% of its customers will be able to enroll with the “Credit Monitoring” without a problem. The credit bureau says there will be a tiny number who will be unable to use the service for one reason or another–such as difficulties authenticating their identity.
New Jersey-based Heartland Payment Systems has chosen Phoenix-based Involve’s “StreetSmarts” software to help its 900-strong sales force to share sales-related best practices, expertise and information. After a successful 60-day, 150-person pilot program, Heartland Payment Systems signed an annual subscription for 1,000 seats of Involve Technology’s software and will access StreetSmarts through a hosted “software-as-a-service” (SaaS) model. StreetSmarts is a Web-based sales knowledge automation technology that works through e-mail to locate, manage and deliver information for sales teams. Heartland Payment Systems Inc.provides credit/debit card processing and payroll solutions to over 100,000 small to medium-sized merchants throughout the United States. Involve Technology is the market leader in software-as-a-service (SaaS) sales knowledge automation solutions which enable companies to sell more effectively while reducing sales support time and costs.
VISA International is now offering Hypercom’s “Optimum T2100” card
payment terminal to banks and retailers throughout Russia and the
Commonwealth of Independent States. The “T2100” is a hand-over
countertop unit that can handle debit and credit transactions as well as
gift and/or loyalty cards and other value-added capabilities. The
decision reflects the rapid growth of electronic payments in Russia and
the earlier selection of the “T2100” for the “VISA Smart Breakthrough
Acceptance Device Program”, established to promote the use of
point-of-sale devices that comply with the global EMV standard
for chip-based debit and credit cards. Since the introduction of the
“VISA Smart Breakthrough Acceptance Device Program,” the migration of
electronic POS terminals to the EMV standard has surged from
750,000 at the inception of the program in 2002 to more than two million
in 2004. Hypercom provides card payment terminals, network access
devices, server and transaction networking solutions.
PRE Holdings has introduced two prepaid general purpose payment cards. The prepaid specialist is offering the “Mio Money Prepaid MasterCard” and the instantly-issued “Mio Now STAR Card.” Both cards offer online statements. The cards carry a $9.95 (average) fee and the reload fees of $4.95 (regardless of the load amount up to $500). The standard monthly account service fee plans range from $4.95 for low usage consumers to a $12 all-inclusive “Value Plan” for those who use their card more often. The “Value Plan” offers free, unlimited POS transactions (PIN or signature), and also includes four ATM transactions per month with no service fee (2 ATM transactions per card, per month). For $2.00 a month, cardholders can join the Allpoint surcharge free ATM network.
MasterCard announced that two more NFL teams will now accept “MasterCard PayPass” cards. The network also announced a new sweepstakes for a “Priceless Game Day Experience.” The Washington Redskins Football Club and the New York Giants Football Club will accept MasterCards new contactless payment option. Earlier this year, the Seattle Seahawks and Baltimore Ravens launched similar implementations of “MasterCard PayPass” acceptance at their stadiums, and the Philadelphia Eagles incorporated “PayPass” at its stadium in 2004. MasterCard’s latest NFL promotion will give 30 lucky MasterCard card the ultimate tailgate party with an NFL legend for themselves and nine friends or family members. The experience will include a pre-game tailgate with all essentials provided; pre-game sideline passes; team-branded merchandise; and 10 tickets to the designated game. The sweepstakes runs until October 31st. MasterCard will rollout an integrated marketing campaign primarily focused on radio advertisements as well as localized events at partner NFL stadiums across the country.
American Express launched a new “Membership Rewards” option enabling cardholders to use their points to book travel directly on the AmEx travel Web site. Cardholders can also use “Membership Rewards” points to cover all or part of the costs of any hotel room and cruise. The Membership Rewards program offers access to 23 airline partners, 15 of which offer cardholders the ability to transfer points directly into their airline frequent flier program. The program also offers access to more than 250 hotel partners, and almost 40 luxury cruise liners.
VeriFone reported that net revenues for the quarter ending July 31st rose 21% to $125.7 million. The payment terminal manufacturer says the increase was driven by strong performance in its international business. During the quarter, the Company announced its multi-lane “MX870” system which uses a PIN pad and merges full-motion video with payment capabilities into a single networking system, enabling multi-lane retailers to broadcast advertising and corporate messaging directly to their customers. VeriFone also received “Class A” product certifications with multiple U.S. processors for its “Vx Solutions.” VeriFone also teamed with San Francisco-based Pay By Touch during the quarter. VeriFone went public on April 29th. For complete details on VeriFone’s latest performance, visit CardData ([www.carddata.com]). (CF Library 4/29/05; 5/13/05)
2Q/03: $ 88.9 million
3Q/03: $ 90.3 million
4Q/03: $ 87.9 million
1Q/04: $ 89.5 million
2Q/04: $104.0 million
3Q/04: $108.6 million
4Q/04: $111.3 million
1Q/05: $117.9 million
2Q/05: $125.7 million
Source: CardData (www.carddata.com)
TransUnion’s TrueCredit subsidiary has released a new survey showing that 63% of consumers thought it was unlikely they would be victims of identity theft in the next year, while only 35% viewed the threat as real. The survey also discovered 45 percent of respondents thought they would need to spend at least 50 hours or more to resolve the problems resulting from an incident of identity theft. TrueCredit helps consumers protect and improve their credit through a suite of secure and easy-to-use products.
Houston-based Cardtronics is deploying additional modules of e-ClassicSystems'”ATM Manager Pro” including the “Advanced Cash Management,” “Interchange Fee Calculations,” and “Branding Program Analysis” modules. Cardtronics is the world’s largest owner/operator of ATMs and has used ATM Manager Pro to manage its network that has grown to more than 25,000 ATMs. e-ClassicSystems provides a suite of integrated financial software systems and is a subsidiary of Jack Henry & Associates, a provider of integrated computer systems and processor of ATM/debit card/ACH transactions for banks and credit unions.