In the CardFlash News Que: CPI CARD GROUP; SYNCHRONY FINANCIAL; VSOFT; MOBILE STRATEGY PARTNERS: INSIDE SECURE; and MILBERG.
Eurasian Bank announced its new mobile banking service through Monitise Create. The full-service, multi-language mobile banking app is available on iOS (iPhone) and Android to the Bank’s customer base that will exceed one million this year, with iPad and Windows Phone versions to follow. Monitise Create was approached by Eurasian Bank to define, create, develop and launch a mobile banking proposition to reflect the bank’s position as a key financial services innovator in Central Asia. The app, available in Russian, Kazakh and English, will provide all Eurasian Bank’s retail banking customers with access to transaction history for multiple accounts, intra-account transfers, bill payments, the option to apply for credit, block transactions and an ATM, branch and POS finder.
Boston-based Merchant Warehouse, the first to offer a full suite of credit card processing services and equipment on the Internet in 1998, reports that its merchant account sales this summer are up 65% compared to one-year ago. In July the company added 1,399 merchant accounts, an 84% year-on-year increase. Merchant Warehouse says the key has been cutting out several intermediaries in the traditional sales process, thereby offering credit card processing software, POS equipment, and merchant services at a reasonable price over the Internet. The Company now serves over 50,000 merchants.
The Clermont-Ferrand-based Syndicat Mixte des Transports en Commun has selected ERG Group, INEO and Parkeon to supply a smart card based automated fare collection system. The new smart card system will be the first large urban ticketing system in France to abandon the magnetic ticket technology currently used throughout France in favor of smart card technology. The project is valued at over EUR 4 million. It will begin rollout immediately and will be fully implemented in September 2006.
FleetBoston’s third quarter outstandings are up 7% over last year, while volume grew 24.8%. However charge-offs declined from 5.81% for 2Q/02 to 5.25% for the third quarter. Meanwhile the delinquency ratio edged up from 3.74% to 3.83%. For complete details on FleetBoston’s 3Q/02 performance visit CardData ([www.carddata.com]).
3Q/01 2Q/02 3Q/02
Outstandings: $14,600,000,000 $14,679,000,000 $15,625,000,000
Q Volume: $ 5,776,000,000 $ 5,560,000,000 $ 7,209,000,000
Accounts: 7,200,000 7,265,000 7,960,000
Actives: 5,240,000 5,300,000 5,529,000
Cards: 10,404,000 11,503,000 11,925,000
Source: CardData (www.carddata.com)
StarCite, Inc., innovators of the Internet’s leading global business-to-business E-Commerce meetings and events marketplace ([http://www.starcite.com]), announced a strategic alliance with American Express to provide customized Web-based meeting sourcing and management tools to American Express customers.
StarCite’s services will be provided through American Express One, a business unit of American Express Corporate Services dedicated to serving the travel needs of small and mid-sized companies.
Under the agreement StarCite and American Express One will create a co-branded version of StarCite.com and offer customized sites for individual corporate customers. Using the co-branded StarCite Web site, American Express customers will be able to initiate and manage much of the meeting planning process online, in conjunction with American Express One’s Meetings & Incentives group’s traditional meeting planning services.
These Web-based tools will allow customers to find destinations, choose properties, issue electronic RFPs and participate in online reverse auctions for meeting space and other related services.
The agreement with StarCite complements American Express One’s existing suite of corporate group travel and incentive services, which cover corporate business meetings, incentive programs and special event planning, with services including consolidation of meeting expenditures, registration services, site searches and destination analysis.
American Express One Meetings & Incentives employees will also utilize a co-branded version of StarCite.com to support their worldwide corporate meeting planning activities. American Express is the latest addition to StarCite’s strategic partners program.
“By using the Internet to manage many stages of a corporate meeting, for everything from searching for and seeking bids from hotels to registration services, companies can cut the cost of meetings and improve the administrative processes they employ to manage events,” said Jay Roseman, Vice President of American Express One Meetings & Incentives. “Working together, StarCite and American Express will deliver customized, powerful solutions to help our customers transform meetings management.”
“Both StarCite and American Express have earned reputations for providing comprehensive services that enable customers to achieve process efficiencies and cost savings,” said John Pino, chairman and chief executive officer of StarCite. “By joining forces, we have created a powerful offering that builds on the achievements of both companies.”
About American Express
American Express One, created in 1999, is a division of American Express Corporate Services specializing in travel management services for small to mid-sized companies. American Express Corporate Services is the leading provider of commercial cards and the largest travel agency in the U.S. The company counts more than 70 percent of the Fortune 500, along with tens of thousands of mid-sized companies, as customers of its Business Travel, Corporate Card, Corporate Purchasing Card and Consulting Services group.
American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, business services, insurance and international banking.
About StarCite, Inc.
StarCite is using its proprietary web-based technologies and services to re-shape the supply chain purchasing and management processes for the $300 billion global meetings and events industry. Custom versions of StarCite.com enable more effective buying and vendor management on a company-wide and global basis.