Diners can now vote with their palates and raise funds for charity in the new 8 Great PlatesSM restaurant competition to determine the most-loved international cuisine in ten U.S. cities. Chase Card Services, a division of JPMorgan Chase & Co. [NYSE: JPM], announced today the start of public voting for consumers’ favorite international dishes among…
Gemalt digital security was selected as the technology provider for “Transfer,” the service to be offered by the joint venture between América Móvil/Telcel, Citibank´s Mexican unit Banamex and Banco Inbursa in order to turn the mobile phone into an innovative and efficient payment instrument for carrying out transfers and air time purchasing. It allows financial transactions in real time, 24 hours a day, from a mobile device through SMS messaging. América Móvil is the leading telecommunications services provider in Latin America with around 242 million mobile phone subscribers and operations in 18 countries. Gemalto is the technology provider in Mexico of Transfer´s transactional platform and is responsible for the service development, support and operation.
Gemalto digital security was selected as the technology provider for Transfer, the service to be offered by the joint venture between América Móvil/Telcel, Citibank´s Mexican unit Banamex and Banco Inbursa in order to turn the mobile phone into an innovative and efficient payment instrument for carrying out transfers and air time purchasing, among other operations. Transfer is the service that enables financial transactions in real time, 24 hours a day, from a mobile device through SMS messaging. The “Transfer” platform is based on Gemalto´s LinqUs mobile payment platform, which ensures that customers will be able to use their mobile accounts safely through different channels. It integrates in accordance with the financial and telecommunication industries standards allowing the users to perform transactions like transfers, air time purchasing and cash withdrawal from the convenience of their mobile phones.
Winn-Dixie Stores announced customers who shop at any of its 54 New Orleans, Baton Rouge and Lafayette-area stores using the new Customer Reward Card (CRC) will earn fuel savings at Shell stations through the “fuelperks!” Rewards program. This launch is part of the grocer’s ongoing partnership with Excentus Corporation, a retail marketing coalition specializing in fuel-based reward programs. For every $50 in qualified purchases that customers make using their new CRC at Winn-Dixie, they will receive a five cents per gallon fuel savings redeemable at any one of more than 125 participating Shell stations. Additionally, fuelperks! Rewards are stackable — the more shoppers spend, the more they earn.
Bank Caixanova is strengthening its payments capabilities after signing
a deal with Transaction Network Services for the “TNSOnline” network
connectivity and monitoring service. The “TNSOnline” solution is a web
based network management portal which
allows Caixanova to monitor network devices, view transaction activity
in near real time, and provide problem management status.
The organisation will use TNS’ services for connectivity to process
payment transactions for over 14,000 point-of-sale (POS) terminals.
Caixanova will also utilise the TNSOnline solution to monitor POS
terminal and transaction activity, check the status of trouble tickets
and view network alerts or messages if network conditions change.
Caixanova’s history spans nearly 130 years and the bank is now one of
the leading financial institutions in Spain, with
more than 580 branches throughout the country and 13 offices outside Spain.
Citi announced it has consolidated its U.S. and international credit card businesses into a single global business. The separate unit will be led by Steven Freiberg, CEO of Global Cards. The Company also formed a Consumer Banking unit. Terri Dial will join Citi as Global Head of Consumer Strategy and CEO of Consumer Banking in North America. Citi also has established a regional structure giving the leaders of the geographic regions the authority to make decisions on the ground. These geographic regions are each led by a single chief executive officer who reports to CEO Vikram Pandit. Asia Pacific, including Japan, will be led by Ajay Banga. Western Europe, Middle East and Africa will be headed by William Mills. The Central and Eastern European region will be led by Shirish Apte. Manuel Medina Mora will continue to lead Mexico and Latin America. The Company says the changes will make Citi a simpler, leaner and more efficient organization.
Citi and Quinenco have signed agreements giving Citi the option
to acquire up to 50% of LQIF holding company over the next 3 years,
following the initial acquisition of 32.96%. LQIF is the holding company
through which Quinenco controls Banco de Chile and will have an
interest in the bank of 37.8% after the 3 year period. The agreement also
stipulates that Citi and Banco de Chile will combine operations for a
20% market share of the Chilean banking industry, similar to that of
Banamex in Mexico. Citi Chile, valued at $701 million, will contribute
$192 million worth of assets and will be combined with Banco de Chile
for investment valued at $893 million. Citi is also given the option to
an additional 17.04% stake in LQIF for approximately $900 million. Banco
de Chile is the second-largest bank in Chile with 18% market share in loan
originations and 18% in bank deposits. The bank has assets of more than
$23.9 billion, loans of $17.9 billion and deposits of $15.0 billion and
generated earnings of $365 million in 2006. Banco de Chile has over
customers through its network of 293 branches and 1,456 ATMs. Citi Chile
has 4,000 employees, 106 branches and is currently the 10th largest bank in
the country. It has approximately $3.47 billion in assets and $1.93
deposits and $1.94 billion in loans.
A survey conducted by Hughes Network Systems discovered that four out of five executives surveyed believed that their companies had made significant progress toward PCI compliance by addressing their point-of-sale and back-office systems. However, the vast majority had yet to achieve full end-to-end network PCI compliance. While the majority of respondents were not fully compliant, nearly all of those surveyed indicated they were familiar with PCI compliance and actively working to achieve it. Nearly 100 percent acknowledged that PCI compliance was important to their business. The Hughes survey consisted of written responses by 62 restaurant executives who visited the Hughes exhibit while attending Hospitality Magazine’s 2007 MURTEC tradeshow. Hughes Network Systems provides broadband satellite networks and services for large enterprises, governments, small businesses, and consumers.
Citi has completed the acquisition of substantially all of the subsidiaries of Grupo Cuscatlan. Under the terms of their agreement announced on December 13th Citi acquired Grupo Cuscatlan’s banking operations, some of its insurance operations, and other financial activities for $1.51 billion in cash and Citigroup stock. Grupo Cuscatlan serves more than 45,000 corporate banking customers and 1.2 million consumer banking customers through a distribution network of 202 branches and 263 ATM’s throughout the region. Mauricio Samayoa will remain CEO of Grupo Cuscatlan.
Al Rajhi, a Saudi Arabian Bank, has collaborated with Malaysian
e-Kencana to create a funds transfer system to comply with Islamic
financial principles, including no interest-based gains and no links to
companies involved with tobacco, alcohol, or gambling. This funds
transfer is the first of its kind, known as Islamic Payment Switch (IPS),
and will first be introduced in the form of a debt card. This will be
marketed to Malaysians making the Mecca pilgrimage and migrant
workers in Saudi Arabia. The Debt card can be used at ATMs in Saudi
Arabia and plans to expand to other banks in Muslim countries.
The new co-heads of Citigroup’s Global Consumer Group reshuffled some card executives yesterday. Vik Atal, formerly EVP, Expansion Markets for Citi Cards, will assume responsibility for Citi Cards. Peter Knitzer, formerly EVP, Travel and Business, Citi Cards, will be the Head of Customer Franchise Management for the North America business. Rich Garside, formerly EVP and Chief Operating Officer, Citi Cards, will head the North America O&T function. The Group’s International business structure will remain the same as it is today with Faith Massingale continuing to run International Cards. Joyce Phillips will continue as Head of Japan/Cards and Retail Banking, and Augusto Escalante Juanes will remain as Head of Mexico/Cards. In August, Citigroup’s CEO announced that Marjorie Magner, Chairman and CEO of the company’s Global Consumer Group, will be leaving the company by October 1st. Prince then named Steven Freiberg, Chairman and CEO of Citi Cards and Ajay Banga, President of Retail Banking North America, as co-heads of the Global Consumer Group. Freiberg will lead the North American business (U.S. and Canada) and Banga will lead the International operations. (CF Library 8/23/05)
Citigroup is introducing a new program to enable “Banamex USA” cardholders to add cardholders residing in Mexico. Under the program, the U.S. cardholder is given a “Banamex USA” credit card and the designated person in Mexico gets a card issued by Banamex in Mexico. The U.S. card is issued by California Commerce Bank, the US banking arm of Banco Nacional de Mexico or Banamex. Banamex USA and Banamex in Mexico are companies of Citigroup.
The U.S. customer will receive a monthly statement listing all activity on both cards. The cardholder in Mexico will receive a monthly courtesy statement, reflecting only his or her activity. The U.S. cardholder may make dollar payments on the entire bill, or allow the cardholder in Mexico to pay his or her portion in pesos at any Banamex branch. The program may be added to an existing “Banamex USA credit card account or be included on a new credit card account. During enrollment, the customer may designate the person in Mexico with whom he or she wants to share the account and set a pre-authorized portion of their credit line for that person. The annual fee for the US-based card is $29.