OH-based M&T Bank has purchased 390 NCR “Personas 77” ATMs. M This investment, which includes NCR’s APTRA Edge software, represents a step forward in M&T Bank’s transition to an open architecture software platform to drive its ATM channel. NCR’s Personas 77 is a free-standing ATM, designed for medium- to high-volume interior locations. This unit offers a full range of security options, including remote key management and dual-safe variations, greater reliability and serviceability.
BB&T has selected the Evolution Benefits’ “Benny” prepaid benefits card to expand its health care management options to its employees and its customers. The Benny prepaid benefits card applies advanced payment technologies and pioneering electronic substantiation methodologies to give employees access to FSAs, HSAs, HRAs and Qualified Transportation Accounts on a single card.
Cubic has completed one of the first unattended “Chip and PIN” terminal
networks in the UK. The network of unattended units on the Underground
and some Docklands Light Railway (DLR) stations throughout London’s
Oyster card transport system enable Transport for London’s customers to
purchase travel tickets with debit or credit cards using “Chip and PIN”
technology, without the need for a staff member to be present. The
unattended payment devices have now been installed in 491 passenger
operated ticket machines. In addition, Cubic also carried out
a wider program of upgrading terminals across the Transport for London
network. This included installing 600 “PIN Entry Devices” on ticket
office machines at all 275 ticket offices in Tube stations. Cubic
Transportation Systems is a full-service systems provider of automated fare collection systems.
The Minnesota Association of County Auditors, Treasurers and Finance Officers has launched a new, centralized online portal where Minnesotans in 19 counties may make secure electronic property tax payments via Official Payments Corp. The portal is being offered by MACATFO to all of Minnesota’s 87 county governments as an easy, fast and cost effective way to begin accepting electronic property tax payments. Through this unique new portal, counties may create their own customized home pages with county-specific tax collection and payment information. The system accepts all real estate and mobile home tax payments.
The California Employment Development Department has launched “EZPAY” via Official Payments Corp. to enable California businesses to make payroll tax deposits with all major payment cards. Employers are eligible to participate in a variety of unique special offers highlighted on the “Special Offers” tab at www.officialpayments.com. Citizens and businesses using credit or debit cards with bonus rewards programs may, depending on their card’s program, earn reward points, airline frequent flyer miles or cash back for paying their taxes. Official Payments charges a convenience fee of 2.5% of the payment amount for this service (minimum fee of $1.00).
A new survey shows that 70% of consumers worldwide support using biometrics technologies to verify their identity. The research by Unisys also found that 66% of consumers worldwide favored biometrics as the ideal method to combat fraud and identity theft as compared to other methods such as smart cards and tokens. More than 80% cited convenience as the top reason for preferring biometrics. Voice recognition was the most favored authentication method, cited by 32% of respondents, followed by fingerprints (27%), facial scan (20%), hand geometry (12%) and iris scans (10%). North Americans were significantly less supportive of facial scans compared to other regions, with only 10% citing it as the preferred method.
Capital One’s first quarter U.S. credit card profits increased 32% year-over-year and more than doubled sequentially thanks to improvement in credit trends following the fall bankruptcy surge. Purchase volume in the U.S. was up 15% to $18 billion while U.S. managed card outstandings increased slightly from the year-ago quarter. The number of U.S. card accounts dropped by about 400,000 during the quarter to 37.3 million compared to 37.6 million in the prior quarter and 38.2 million one-year ago. U.S. card net income was $602.8 million, compared to $237.0 million in the prior quarter and $458.2 million for 1Q/05. U.S. managed card outstandings were $47.1 billion for 1Q/06 compared to $46.6 billion one-year ago and $49.5 billion in the previous quarter. The managed delinquency rate (30+ days) for U.S. credit cards was 3.31% for the first quarter, compared to 3.44% for 4Q/05 and 3.66% for the first quarter of 2005. The net charge-off rate for U.S. credit cards was 2.93% for the first quarter, compared to 5.70% for the fourth quarter and 4.73% one-year ago. For complete details on Capital One’s first quarter performance, visit CardData ([www.carddata.com]).
COF U.S. CARD NET INCOME
1Q/05: $458.2 million
2Q/05: $432.4 million
3Q/05: $481.8 million
4Q/05: $237.0 million
1Q/06: $602.8 million
Source: CardData (www.carddata.com)
BB&T has signed a deal with Cardtronics to brand 64 ATMs in Walgreens locations in the Atlanta area this month. All of the BB&T-branded ATMs in Walgreens stores will be free to BB&T customers — just like BB&T’s on-premise ATMs. BB&T Corporation is the 9th largest U.S. financial services holding company, with $109.2 billion in assets.
HSBC has inked a deal to acquire the private label credit card receivables and to manage the ongoing credit program of PA-based Boscov’s Department Stores. Boscov’s Department Stores is the largest full-line, family-owned independent department store in the country, operating 40 stores in Pennsylvania, New York, New Jersey, Delaware, Maryland and Virginia. The current Boscov’s card program offers cardholders up to four points for every dollar charged on the Boscov’s store card. HSBC Retail Services has more than 60 active merchant relationships.
Bain Capital and Advantage Partners have announced they have entered into an agreement to acquire unattended payment systems provider MEI Conlux from Mars, Incorporated. MEI Conlux has the world’s largest installed base of unattended payment systems, handling over 1 billion cash transactions every week. The transaction is subject to normal regulatory approvals. Terms of the transaction were not disclosed. Financing for the transaction will be provided by Citigroup Japan and Nikko Citigroup. Mars Incorporated was advised by Goldman Sachs. Bain Capital is a global private investment firm with more than $35 billion in assets under management. Advantage Partners is a private equity investment firm and manages about $1 billion in funds.
Bain Capital and Advantage Partners have announced they have entered
into an agreement to acquire unattended payment systems provider MEI
Conlux from Mars, Incorporated. MEI Conlux has the worldÃÂ¢ÃÂs largest
installed base of unattended payment systems, handling over 1 billion
cash transactions every week. The transaction is subject to normal
regulatory approvals. Terms of the transaction were not disclosed.
Financing for the transaction will be provided by Citigroup Japan and
Nikko Citigroup. Mars Incorporated was advised by Goldman Sachs.
Bain Capital is a global private investment firm with more than
$35 billion in assets under management. Advantage Partners is a
private equity investment firm and manages about $1 billion in
LA-based Sabine State Bank and Trust Company has signed a six-year contract with Fifth Third Processing Solutions for EFT services. Sabine State Bank and Trust Company has $500 million in assets . Fifth Third Bank Processing Solutions processes over 17 billion ATM and POS transactions per year for more than 1,480 financial institutions and over 127,000 retail locations worldwide.