IRN Payments Systems has chosen Ingenico’s “ROAM” Mobile Payments solution to offer to its merchants. Ingenico will supply IRN with the PCI-DSS certified ROAM mobile payments application along with the ROAMpay Swipe card reader that operates off the merchant’s phone audio jack. This device agnostic mobile software, combined with the encrypted card reader, will turn merchants’ smartphones into cost-effective mobile Point-of-Sale (POS) devices. The Ingenico ROAM Mobile Payment software and swipe card reader can be used on a wide variety of mobile devices including BlackBerry, Android, iPad, and iPhone (2G, 3G, and 4G).
Payment system provider Cynergy Data has hired Dane James, previously with First Data Commercial Services as the EVP
of Corporate Sales and Tom Della Badia as VP of Business Development position.
James will oversee strategy, development and planning for Cynergy Dataâs
nationwide sales teams. As SVP and GM at First Data Commercial Services, James
managed key bank relationships. Prior to working for First Data, James
spent 13 years with Discover Card Financial Services and VISA USA. Della Badia manages ISO and
referral relationships for Cynergy Data. With 15 years of industry
experience, Della Badia plans to grow the companyâs ISO channel and
referral partnership base. Della Badiaâs prior experience includes the
role of Senior Vice President for IRN Payment Systems.
Chicago-based Rewards Network’s frequent flyer members who have achieved “Elite” status based upon their dining activity in the various Rewards Network programs will receive an additional five miles per qualified dollar spent for a total of ten miles per dollar through December 31st, 2007 and “Priority Club Rewards Dining” members with “Elite” status receive an additional eight hotel points per qualified dollar spent for a total of sixteen points per dollar through December 31, 2007. Membership in each of these dining programs managed by Rewards Network is free. Rewards Network (AMEX: IRN), headquartered in Chicago, Illinois, is a leading provider of marketing services and loyalty programs to the restaurant industry.
NY-based IRN Payment Systems has selected and “Class A” certified Hypercom’s “Optimum T4100” multi-application card payment terminal. The T4100 gives IRN the flexibility to deliver one or more payment processing solutions on the same high-performance terminal platform. Global payment technology leader Hypercom Corp. delivers a full suite of high-security, end-to-end electronic payment products and services. IRN has provided electronic payment processing solutions through its PartnerAmerica Program to businesses nationwide for more than 18 years.
The New York Times has launched “TimesPoints,” enabling members to register up to three of their credit or debit cards to earn points at thousands of merchants. Points can be redeemed to pay for the cost of a New York Times home delivery subscription, merchandise from The New York Times Store, or gift cards from select advertisers of The New York Times such as Bloomingdales, Apple iTunes Store and Barnes and Noble. The program utilizes two of the largest operators in the loyalty rewards industry, Rewards Network for dining and hotels, and Advantex Marketing International for online shops.
New York-based IRN Payment Systems has become the first organization to adopt a Hypercom product for a free terminal program and named Hypercom as its preferred terminal vendor. Hypercom’s T7Plus is a compact countertop POS terminal that accepts all magnetic stripe cards, authorizes online transactions and provides “One-Touch” shortcut keys. The T7Plus units will be configured to support credit, debit, EBT, gift card and loyalty card transactions as well as IRN’s proprietary Paid On Signing 9-second real-time check debit processing solution. IRN expects to purchase the terminals over the next 12 months for free placement in merchant locations by its ISO partners. IRN Payment Systems provides electronic payment processing solutions to businesses. Hypercom provides card payment terminals, network access devices, server and transaction networking solutions.
Chicago-based Rewards Network has appointed Ronald L. Blake, its President and CEO, to the Board and has inked an employment agreement with Blake. Rewards Network provides loyalty and rewards programs for restaurants via its registered credit card platform.
Chicago-based Rewards Network posted second quarter sales of $73.0 million, a 19.4% decrease from the prior year’s second quarter, due primarily to a lower restaurant merchant count and a decline in the number of transactions and the average dining transaction amount. Net income for the quarter was $1.4 million compared with net income of $4.4 million for 2Q/04. As of June 30th, Rewards Network had 3.6 million active member accounts and 10,376 restaurants in its rewards programs. Rewards Network recently added three new tiers for its airline programs offering up to 10 miles per dollar, depending on loyalty and dining frequency. For complete details on Reward Network’s second quarter performance, visit CardData ([www.carddata.com]). (CF Library 7/21/05)
Chicago-based Rewards Network has added three new tiers for its airline programs offering up to 10 miles per dollar, depending on loyalty and dining frequency. The three member program tiers include “elite,” “engaged” and “active,” each with corresponding mileage awards, bonus opportunities and a roster of restaurants, depending on how frequently the member uses the program. Membership in each of the airline dining programs is free. Rewards Network provides loyalty and rewards programs for restaurants and hotels via its registered credit card platform. As of March 31, 2005, Rewards Network had 3.7 million active member accounts and 10,307 restaurants in its rewards programs.
Chicago-based Rewards Network reported first quarter sales of $74.8 million, a 15.7% decrease from the corresponding prior year’s first quarter sales. The decrease was caused primarily by a decline in the restaurant merchant count, the number of dining transactions and the average dining transaction amount. Lower sales yield as a result of changes in the Company’s products also slowed the rate of sales recognition. Net loss for the first quarter was $3.7 million, compared to net income of $3.3 million. As of March 31st, Rewards Network had 3.7 million active member accounts and 10,307 restaurants in its rewards programs. For complete details on Reward Network’s first quarter performance, visit CardData ([www.carddata.com]).
Following the departure of other executives, Chicago-based Rewards Network lost its CEO yesterday and is projecting a net loss for the first quarter. The news follows a weak fourth quarter wherein operating revenues and sales dropped 8% driven by declines in restaurant merchant count, dining transactions and the average dining transaction amount. CEO and president George Wiedemann said the Company’s 2004 performance was less than satisfactory. He resigned yesterday. Rewards Network promptly named Ronald Blake as the new president, CEO and director. Blake was chairman and CEO of Willis Stein Telecom Acquisition and previously worked for Ameritech. The Company expects to report a net loss, in the range of $0.16 to $0.22 per share, for the first quarter. Rewards Network says the loss is the result of lower-than-expected revenues; a higher-than-expected provision for losses; and severance costs for executives. For the fourth quarter Rewards Network posted operating revenues of $22.6 million on $82.0 million in sales. As of year-end 2004, Rewards Network had 3.8 million active member accounts, 10,514 restaurants and 11,321 hotels participating in its rewards programs. For complete details on the Rewards Network fourth quarter performance, visit CardData ([www.carddata.com]).
REWARDS NETWORK HISTORICAL
Sales Restaurants Transactions
2002: $271.8mm 9,681 2,349,000
2003: $320.1mm 10,836 2,746,000
2004: $320.6mm 10,514 2,641,000
Source: CardData (www.carddata.com)
Chicago-based Rewards Network posted operating revenues for the fourth quarter of $22.6 million, a decrease of 8.2% compared with the same period last year. Sales for the quarter amounted to $82.0 million, an 8.1% decrease from 4Q/03. Declines in the restaurant merchant count, the number of dining transactions and the average dining transaction amount contributed to the decline in sales for the fourth quarter of 2004. Net income for 4Q/04 was $2.5 million, compared $3.9 million for 4Q/03. As of year-end 2004, Rewards Network had 3.8 million active member accounts, 10,514 restaurants and 11,321 hotels participating in its rewards programs. For complete details on the Rewards Network fourth quarter performance, visit CardData ([www.carddata.com]).