VISA has awarded Fifth Third Processing Solutions a VISA Service Quality Performance Awards for “Lowest Chargeback-to-Sales Ratio”. The Lowest Chargeback-to-Sales Ratio category reflects an acquirer’s ability to effectively educate its merchant customers on VISA’s acceptance procedures designed to ensure that transactions are properly processed at the point of sale. VISA established the Service Quality Performance Awards Program in 1992 to recognize exceptional card operations performance by card issuers and acquiring members. The awards acknowledge consistent, superior performance and has consistently recognized Fifth Third Processing Solutions for its excellent processing performance since 1995. Annually, Fifth Third processes $148.1 billion in credit card sales.
General Growth Properties has become the first shopping center developer and management company to offer a line of themed American Express Gift Cards for special occasions. At ten U.S. properties, the American Express Gift Cards “Especially for Kids,” “Especially for Teens,” and “Especially for Birthdays” are already being offered to customers. GGP shoppers can also take advantage of “AmEx Gift Card” cardholder-only special offers at participating merchants including Build-A-Bear Workshop, f.y.e., KB Toys, Kid’s Foot Locker, and California Pizza Kitchen. General Growth has ownership interest or management responsibility for a portfolio of more than 200 regional shopping malls in 45 states.
TNB has purchased four more credit card portfolios, netting . more than $3.7 million in outstanding balances. They include APEX Community FCU of Stowe, PA; NorthRidge Community Credit Union of Hoyt Lakes, MN; West Virginia Central Credit Union of Parkersburg, WV; and Westminster FCU of Westminster, CO. Apex Community Credit Union has assets of $34 million. NorthRidge Community Credit Union has assets of $34.5 million, serving 6,190 credit union members and CUSO clients. West Virginia Central Credit Union has more than $57 million in assets and 16,000 members.
VA-based Smart Payment Solutions has partnered with Orgamation Technologies, to integrate ACH payments into Orgamation’s software, delivering automated electronic payments to its clients. SPS offers ACH processing, Returned Check processing, credit card merchant accounts, and check conversion. Clients include corporations and non-profit organizations that benefit from increased profits; reduced bank fees; improved donation rates; convenience for customers, suppliers and employees; expanded customer base including non-credit card purchasers; heightened collection rates on non-sufficient funds checks; and greater cash and working capital management through ACH transaction use. Orgamation Technologies’ delivers management solutions to childcare centers, private schools and family daycare agencies. Smart Payment Solutions is a payment processing company that helps non-profit organizations and corporations enhance productivity, increase contributions and electronically process payments efficiently and securely.
The City of Buffalo launched this past weekend its “No Questions Asked” gun buyback program offering prepaid bank cards in return. Buffalo’s program is modeled after several other city’s successful gun buyback efforts, particularly the City of Chicago that in two different one-day gun buybacks retrieved over 4,200 guns. Pre-paid bank credit cards will be provided, no questions asked, in the following denominations: $10.00 – Non-working or antique guns (including BB guns and pellet guns); $50.00 – Rifles/Shotguns; $75.00 – Handguns and $100.00 – Assault Weapons (e.g., Uzi’s, AK-47s). Last year the Buffalo Police Department took 1,000 illegal guns off the streets of Buffalo and this new program will work to support that activity. The project is being financed by $30,000 in asset forfeiture funds that have been acquired by the city through the seizure of monies from illegal drug and other criminal activities in Buffalo, as well as a $10,000 contribution from the Erie County Medical Center.
SAF-T-PAY announced that Roberto Carrillo, previously GM of SAF-T-PAY in Peru, has been named VP of Latin America and Caribbean operations. Carrillo is leading negotiations to integrate SAF-T-PAY’s secure e-payment solution with major banks and other financial institutions in Chile, Argentina, Colombia and Peru. His professional background includes positions as Founding General Manager of Visanet Peru, Regional President of Western Union Financial Services with responsibility for Latin America and the Caribbean, and Regional Vice-president of American Express Mexico and Latin America where he held responsibilities in the financial services and banking industries and currently holds the positions of Partner with SalaFinanciera.com and Director with Strategic Management Group, Lima. Carillo received a degree in Economics from Universidad del PacÃÂfico in Lima and completed graduate studies in Economics at the Virginia Polytechnic University, Blacksburg. SAF-T-PAY is a secure e-payment system that allows online bank customers to make online purchases worldwide directly through their local bank.
PA-based convenience store chain Sheetz has teamed with Chase to launch an enhanced “Sheetz MasterCard with blink.” The enhancement is a more robust “Sheetz Rewards” program. Under the new program cardholders receive a 10% rebate on all Sheetz purchases and a 2% rebate for all other purchases for the first 90 days the account is open. Thereafter, a 3% rebate on all Sheetz purchases; 2% on groceries, travel and dining purchases; and 1% on all other eligible purchases. The rebates can be redeemed for $25 gift cards from various retailers. In May 2005, the “Sheetz MasterCard” became the first co-branded credit card to feature “blink,” Chase’s contactless payment option. Sheetz operates 330 stores throughout Pennsylvania, West Virginia, Maryland, Virginia, Ohio and North Carolina. (CF Library 5/27/05)
Glimcher Realty Trust and NBO Systems have partnered to issue the West Virginia University “Mountaineer Gift Card”. The Gift Card may be used to purchase products or services everywhere Discover Network Cards are accepted and are available in denominations from $25-$500. The Mountaineer Gift Card is now available for purchase at the management office at Morgantown Mall in Morgantown, WV and at the Guest Services Center at Grand Central Mall in Parkersburg, WV. Glimcher Realty Trust is a real estate investment trust that specializes in the ownership, management, acquisition and development of shopping malls. NBO Systems develops, markets and supports stored-value prepaid card programs.
Capital One announced that CIO Gregor Bailar will be stepping down and that Robert Alexander, who currently serves as Capital One’s EVP for Internet and ECM, will assume the role of CIO and Head of ECM. Alexander will be responsible for all CIO accountabilities including enterprise-wide IT strategy, IT infrastructure and architecture, and central data management, information risk and business continuity. Most recently, Alexander served as the lead executive for the largest information technology system replacement program in the history of Capital One. Alexander led a three-year, cross-functional effort to deliver the new infrastructure for Capital One’s credit card businesses, replacing the billing system and ancillary systems and processes. Since joining Capital One in 1998 from Boston-based strategic consulting firm Bain & Company, Alexander has had responsibility at various times for a number of Capital One’s lending businesses, including the US Credit Card and Installment Loan businesses, providing oversight to all marketing, portfolio management, and credit policy activities associated with these businesses. Alexander also led the formation and start up of the company’s credit card e-commerce business.
Bank of America has introduced a bundled set of NASCAR-branded banking products to customers including check cards, checks and credit cards complemented by a special rewards program. Customers can sign-up for NASCAR Checking and other affinity banking programs at over 5,700 Bank of America banking centers and at upcoming NASCAR events, and learn more about the many product features associated with the program. These include a customized VISA check card with group’s logo/design, affinity name/logo on checks and statements, choice of checking account and savings account with Keep the Change Special Affinity Advantage/Prime rates on CDs, IRAs and money market accounts. NASCAR banking customers also can use their personal check card or credit card to earn RacePoints, redeemable for NASCAR merchandise, prizes and even exclusive, once-in-a-lifetime experiences – such as having access to the red carpet area for driver-introductions or serving as honorary crew member for a day.
Verizon Business announced a definitive agreement to acquire Cybertrust. Financial terms were not disclosed. The combination will make Verizon Business the leading provider of managed information security services to large-business and government customers worldwide. Additionally, Verizon Business will acquire ICSA Labs, an independent division of Cybertrust which has tested and certified 95 percent of the installed security products on the market today. According to industry analyst firm Frost & Sullivan, the managed security services market is growing exponentially and is projected to exceed $6 billion by 2011. Cybertrust’s services include identity management, managed security services, vulnerability/threat management, security certification programs and a full range of professional services including enterprise-wide quantified risk analysis, individual application assessments, and forensics and incident response services. Verizon Business, a unit of Verizon Communications is a provider of advanced communications and information technology (IT) solutions to large business and government customers worldwide.
RIA Envia, a money transfer subsidiary of Euronet, has signed
agreements for sending money transfers to Mexico on the Banamex
network. RIA has
41,000 money transfer agents in more than 95 countries and territories
and processes approximately $4.5 billion in money transfers annually.
Originating money transfers across 13 countries in North America, the
Caribbean, Europe and Asia, the company terminates transactions
through an extensive payer network across 85 countries. Banamex,
owned by Citigroup, has a network of over 1,500 bank branches and
more than 3,000 Banamex non-bank locations in Mexico.