A deal to ink a new Diners Club International franchise in Switzerland has been realized. Discover Financial Services’ Diners Club International unit and Cornèr Bank, via its payment card division Cornèrcard, signed an agreement to form a new Diners Club International franchise in Switzerland.
Entertainment group Stratus Media Group announced the signing of a Co-Branded Credit Card Agreement with CornÃÂ¨r Bank to offer the Stratus Rewards VISA White card. CornÃÂ¨r Bank is an important private bank that is one of the top VISA card issuers in Switzerland and a founding member of VISA. Stratus Rewards is a division of Stratus Media Group, Inc. and is a by-invitation-only lifestyle club and credit card rewards system created expressly to support and enhance the affluent lifestyle. CornÃÂ¨r Bank Ltd. offers various banking services to private, institutional, and corporate customers in Switzerland. It also offers private banking services, such as investment consulting, asset management, and tax and retirement planning services.
MasterCard’s “PayPass” continues to exert leadership and momentum in the global contactless payment arena. Over the past twelve months the number of “PayPass” cards and devices has soared by 60%, rising to 16 million at mid-year. This month in the U.S., Harvard University Employees CU became the first credit union to offer “PayPass”; PETCO Animal Supplies announced it will accept “PayPass” in all of its 900 stores; MO-based Central Bancompany became the first community bank holding company to issue “PayPass” cards; and Einstein Noah Restaurant Group, Einstein Brother’s Bagels and Noah’s Bagels, announced that they will begin accepting contactless payments at their over 400 locations. Last month, MasterCard and VeriFone announced that New York City taxis will begin accepting “PayPass,” with more than 5,000 NYC taxis anticipated to accept PayPass by December and MasterCard and USA Technologies announced the installation of a record number of cashless payment terminals, up to 7,500 into Coca-Cola vending machines in several markets nationwide. Internationally, “PayPass” trials and roll-outs are currently underway in 18 countries, including Australia, Canada, France, Indonesia, Italy, Japan, Korea, Lebanon, Malaysia, Mexico, the Philippines, Spain, Switzerland, Taiwan, Thailand, Turkey, the United Arab Emirates, and the U.K.
The first EMV contactless transaction in Europe, according to Swiss technology standards and rules, took place March 29th, using OTIÃ¢Âs “Saturn 6000” and HypercomÃ¢Âs “T2100.” The transaction took less than 0.5 seconds. The transaction was initiated by MasterCard Europe and the Swiss Bank Aduno Group, in collaboration with a McDonald’s restaurant, in Stadelhofen, Zurich. The market launch of contactless card payment technology in Switzerland is projected to commence this year, following pilots in Zurich, Lausanne and Lugano. The “Saturn 6000” supports “VISA Contactless,” AmEx’s “ExpressPay,” Discover’s “Zip” as well as programs for mass transit ticketing, MIFARE, loyalty, and third party applications. The “Optimum T2100” is a high-speed countertop terminal based on a 32-bit RISC processor with 12 megabytes of memory and dial communication.
The first EMV contactless transaction in Europe according to Swiss technology standards and rules took place March 29th, using OTI’s “Saturn 6000” and Hypercom’s “T2100.” The transaction took less than 0.5 seconds. The transaction was initiated by MasterCard Europe and the Swiss Bank Aduno Group, in collaboration with a McDonald’s restaurant, in Stadelhofen, Zurich. The market launch of contactless card payment technology in Switzerland is projected to commence this year, following pilots in Zurich, Lausanne and Lugano. The “Saturn 6000” supports “VISA Contactless,” AmEx’s “ExpressPay,” Discover’s “Zip” as well as programs for mass transit ticketing, MIFARE, loyalty, and third party applications. The “Optimum T2100” is a high-speed countertop terminal based on a 32-bit RISC processor with 12 megabytes of memory and dial communication.
Casino Lugano, Grand Casino Kursaal Bern, Grand Casino Admiral
Mendvisio, and Casino Davos have signed agreements with Global Cash
Access to deploy GCA’s “QuikCash” cash advance kiosks. The touch screen
terminals provide casino patrons with POS debit and credit card cash
advance transaction options. GCA serves approximately
960 gaming properties and other clients in the U.S., the U.K., Canada
and the Caribbean.
Trintech Group Plc announced that it
has signed a deal for the implementation of its Issuer Chargeback System
(PayWare Resolve IS) with Corner Banca, one of Switzerland’s largest card
issuers. This contract underpins Trintech’s leadership position for dispute
resolution solutions in the Swiss market.
PayWare Resolve will transform the way that Corner Banca manages its
chargeback processing by automating an area that has to date been almost
entirely manual. Increased automation within the chargeback department will
help Corner Banca to increase processing efficiency and reduce costs while
simultaneously improving the level of service it can offer its cardholders
during the dispute process.
“As the level of payment transactions grows rapidly, exponential levels of
chargebacks are associated with that growth, making it no longer viable to
operate with a paper based system,” said Stefano Schmid, IT & Organization
Supervisor for Corner Banca. “PayWare Resolve will give us the tools to help
us scale up our card operation and aid us in maximizing the opportunities that
the growth in the payments industry presents.”
“We believe that Corner Banca will realize impressive benefits resulting
directly from the implementation of an automated chargeback management
system,” said John Harte, Trintech’s Executive Vice President of Sales and
Marketing. “The combination of improved productivity and enhanced customer
service has delivered impressive rewards to existing customers of PayWare
PayWare Resolve differentiates itself from other exception management
systems with its built-in knowledge of national and international chargeback
regulations. The chargeback regulations for VISA and MasterCard/Europay have
been encoded into the application so that the system can recommend the
appropriate action and chargeback reason codes for each case, replacing the
need to navigate a series of intricate paper trails and complex and changing
regulations. Combined with the solutions ease of use, this dramatically
reduces the average training time for new staff to be fully operational.
PayWare Resolve Product Overview
Trintech’s Acquirer Chargeback System (PayWare Resolve) automates the
exception management process from end-to-end, increasing processing efficiency
and creating more opportunities for greater customer care.
PayWare Resolve combines a powerful decision-support environment with
compliant dispute regulations to enable optimum management of the entire
chargeback process using an easily understood graphical user interface, for
swift and informed decision-making.
The essential difference between PayWare Resolve and other exception
management systems is its built-in knowledge of national and international
chargeback regulations. The chargeback regulations for VISA and
MasterCard/Europay have been encoded into the application so that the system
can recommend the appropriate action and chargeback reason codes for each
case, replacing the need to navigate a series of intricate paper trails and
complex and changing regulations. Combined with the solutions ease of use,
this dramatically reduces the average training time for new staff to be fully
Founded in 1987, Trintech is a leading provider of secure electronic
payment infrastructure solutions for card-based transactions for physical
world commerce, eCommerce and mobile commerce. The company offers a complete
range of payment software products for credit, debit, commercial and
procurement card applications, as well as being a world leader in the
deployment of payment solutions for Internet commerce that are fully SSL and
SET(TM) compliant. Trintech’s range of scalable open systems architecture
solutions for UNIX(R) and Windows NT(TM) platforms covers consumer, merchant
and financial institution requirements for physical payments and the emerging
world of electronic commerce. Trintech can be contacted in the U.S. at
2755 Campus Drive, San Mateo, CA 94403 (Tel 650-227-7000) and in Ireland at
Trintech Building, South County Business Park, Leopardstown, Dublin 18
(Tel 353-1-207-4000). Trintech can be reached on the Web at
About Corner Banca
Overview of the Group
Corner Banca is an independent, private, Swiss banking institution. Formed
in Lugano on 3 July 1952, it takes its name from the old family name of its
founder, Vittorio Cornaro (Corner). In addition to the parent company whose
head office and general management are in Lugano, with two branches in Locarno
and Lausanne, the Corner Banca Group has affiliates in Luxembourg and Nassau,
as well as Finanziaria & Valori, a trust and holding company, Navimar, a
shipping management company, Corner Trust, Guernsey (providing trust services
within Europe) and two representative offices in Sao Paulo (Brasil) and Monaco
The qualified majority of the share capital is controlled by Swiss family
groups, with Credit Suisse Group holding 27%.
Bankers and Managers
The General Management of Corner Banca is entrusted to Paolo Cornaro and
Luigi Dell’Acqua. Both belong to the majority shareholder group. Corner thus
stands apart from the other main Ticino banks in that its directors are
bankers and managers.
Corner Banca operates in all traditional bank services.
Private Banking is its principal area of business since the foundation.
The long experience gained in this specific area has made the bank highly
competitive compared with the other banks in its region.
The Bank Card Center
Another important business activity of Corner Banca is the issue of credit
Corner has been the first Swiss bank to introduce VISA cards in
Switzerland, in 1975. Since then, the activity has grown steadily, as has its
profitability. The success achieved with VISA cards encouraged Corner to begin
issuing MasterCard in 1998.
Corner Banca can be reached on the Web at http//www.corner.ch