American Express will extend its philanthropic commitment to developing emerging leaders within the nonprofit sector with a five-year, $25 million funding commitment. The additional funds will be used to expand the American Express Leadership Academy and build partnerships with well-known leadership organizations including the Center for Creative Leadership. This in response to research showing 71% of Americans trust nonprofits more than they trust government or industry to address some of the most pressing issues of our time while 83% believe nonprofits do not always have the resources they need to invest in the growth and development of their employees, indicating a clear need for increased investment in nonprofit leadership.Details
Nelson and District Credit Union of Nelson, British Columbia has chosen to implement the Fiserv “Acumen” core banking solution through Fiserv Solutions of
Canada. This after a review of competing processors thanks to the “Acumen” transformational technologies that deliver ease of use; positive references
from the growing number of Canadian credit union leaders already having deployed the solution; and its fully integrated loan origination platform,
comprehensive 360-degree view of the member’s relationship with the credit union, and the ability to generate a wide range of reports with speed and ease.
The completely open platform also provides real-time processing and global capabilities which credit unions cannot outgrow.
Cardlytics transaction marketing CEO, Scott Grimes, was named among three other finalists for TiE Atlanta’s 2010 Entrepreneur Award for “Most Significant Deal of the Year,” which recognizes the extraordinary liquidity or financing transaction of a business founded by an Atlanta-area entrepreneur. Grimes’ inclusion as a finalist is based on Cardlytics’ latest round of growth funding, which raised $18 million in new equity from new investors Kinetic Ventures and ITC Holdings, as well as existing shareholders, including Canaan Partners, Polaris Venture Partners and TTV Capital. Finalists were selected from more than 70 nominees by a panel of Atlanta-based entrepreneurs and investors.Details
Oberthur Technologies will supply South Africa-based ABSA Bank’s prepaid MasterCard contactless payment card with PayPass capabilities by early 2011.
Offering dual-interface payment technology, to enable both contact and contactless payment transactions, this card is the first of its kind in Africa and has been
designed for use in retail outlets throughout South Africa with faster POS speed. The Mastercard can also be used as a transport token in South Africa”s
transport system. Money can be loaded onto the users card either using cash or directly from a bank account, via a POS terminal, transit kiosk, Internet
banking or an ATM. The balance on the card will be limited to R1500 (USD$210) at any time and a maximum of R3000 ($420) may be loaded on the card per month.
Flint Telecom Group and Power2Process have partnered to introduce their prepaid debit card program through Alterna Card Services, set to deploy in December. Allowing Alterna prepaid debit cards to be sold, registered and loaded in targeted retail outlets in areas with high immigrant populations across the United States, the partnership is focal on providing financial freedom and security for immigrants, non-banked consumers, and anyone looking for a better way to manage money. Functioning just as a debit card, cardholders can withdraw money from any ATM Worldwide, pay bills online and having payroll direct deposit. It also allows users to send money around the world instantly as a convenient low cost alternative to traditional international money transfer services and will integrate Flint prepaid calling services with special discounts on international calling from the same card.Details
Amex Bank of Canada announced that British Airways has joined the American Express Membership Rewards as one of the Program’s newest points transfer participants. American Express Cardmembers enrolled in Membership Rewards are now able to transfer their points into BA Miles. BA Miles reward options include travel to any destination in British Airways’ worldwide network and with partner and oneworld alliance airlines. Membership Rewards is an American Express loyalty program that offers points on your eligible purchases or points for virtually every dollar in purchases charged to the Card.Details
Wright Express payment processing posted 3Q/10 total revenue up 17% to $100.2 million from the $85.8 million in the year ago period. These results were composed of numbers showing the average number of vehicles serviced was approximately 4.8 million; total fuel transactions processed having increased 3% year-over-year to 69.0 million; payment processing transactions up 3% to 54.8 million; processing transactions up 1% to 14.2 million; total revenue for the fleet segment having grown 12% year-over-year to $83.5 million; average expenditure per payment processing transaction up 9% from the year ago figure to $57.45; average retail fuel price increased 8% to $2.78 per gallon from $2.58 per gallon last year and total MasterCard purchase volume having grown 50% to $1.3 billion from $876 million in 3Q/09.
3Q/10: $85.8 million
4Q/10: $86.0 million
1Q/10: $83.8 million
2Q/10: $91.4 million
3Q/10: $100 million
The VeriFone “PAYware Merchant” managed service is now available across Europe through its strategic partnership with Gemalto. Now having completed its pan-European sales and distribution network, the VeriFone continental payment gateway service is a bank-certified, hosted payment solution for large retailers, fuel organisations and hospitality companies. Its PCI DSS-compliant payments platform integrates with virtually any front-end POS system and provides a cost-effective outsourced payments service that relieves merchants from associated capital expenditures, on-going maintenance, investment and resourcing. The “PAYware Merchant” managed service provides companies with a way to manage the entire payments process.Details
Heartland Payment Systems payments processing announced 3Q/10 systems revenues of $499 million and a net income of $7.5 million. SME card processing volume was a record $16.6 billion, up 5.9% on the year ago period; net revenues posted $115.4 million and the Network Services processed 825 million transactions- both quarterly records. Moreover, operating income as a percentage of net revenues was 12.3% in the third quarter of 2010, down from the year ago period thanks to net revenues rising slower than processing and servicing costs, which were actually marginally lower than in 2Q/10 on an absolute basis. Overall, small and mid-sized merchant (SME) quarterly transaction processing volume was $16.6 billion, up 5.9% from the year ago period; net revenue was $115.4 million, up 4.9% from the year ago period; and same store sales rose for the second consecutive quarter 2.0% from the year ago period.
1Q/09: $372 million
2Q/09: $417 million
3Q/09: $443 million
4Q/09: $420 million
1Q/10: $411 million
2Q/10: $420 million
3Q/10: $499 million
Source: CardData (http://www.carddata.com)
Vikram Pandit, CEO of Citi, was honored by The New York Police & Fire Widowsâ & Childrenâs Benefit Fund at its 25 th Annual Benefit Dinner, for his strong support of the Benefit Fund and NYCâs first responders. Event attendees will include New York City Police Commissioner Raymond Kelly, New York City Fire Commissioner Salvatore Cassano, former Honoree, Board Member and Hockey Hall of Famer Mark Messier, Lyor Cohen, Warner Music Group CEO and recipient of the inaugural âAnswer the Callâ award, Port Authority Police Department Superintendent Michael Fedorko, Uniformed Firefighters Association President Steve Cassidy and Patrolmen’s Benevolent Association President Patrick Lynch.Details
LogRhythm has launched a new toolkit for business partners to help them capitalise on resurgent market interest in the PCI-DSS. LogRhythm’s “PCI DSS Partner
Kit” provides comprehensive information about the industry regulations, as well as how log management and security information event management (SIEM)
solutions ease the process of PCI compliance. With UK organizations struggling to meet the standard, only 11% of regulated organizations are compliant.
Subsequently, The LogRhythm “PCI DSS Partner Kit” comprises fully customisable mail shot campaigns, sales and marketing materials, technical whitepapers
and background information from the PCI-SS Council.
Diebold has partnered with PenFed to provide an ATM to the Veteran’s Affairs Medical Center in Washington DC for use in the new Independence Way rehabilitation center. Independence Way is a rehabilitation environment simulating “real-life” so that Veterans with various medical ailments can train for community re-entry within the safe and therapeutic setting of the Medical Center. The ATM, which dispenses play money, is used by therapists to teach Veterans in the Polytrauma Program how to perform transactions. Other training tools include a grocery store, Metro system map, and motor vehicle simulator.Details