Discover has launched a Web site that offers consumers auto, homeowner and term life insurance, as well as home warranty plans from trusted, reputable providers. The insurance providers included on the site were subjected to an extensive pre-screening process to ensure they best met consumers’ needs. They offer high quality products, a simplified and convenient quoting process and deliver superior customer service.Details
Alliance Data has certified On Track Innovations’ “Saturn 5000” and
“Saturn 6000” contactless readers, which support contactless EMV
applications published by MasterCard, Visa, Mifare technology and non-EMV
contactless payment programs. These non-EMV solutions include “ExpressPay”
from American Express and Discover. The “Saturn” applications run on the
Ingenico “i5100” and VeriFone’s “Omni 3740/3750/Vx510/Vx570” platforms
and, with the recent certification, provide merchant deployment, profile
setup, download and 24/7 support. Alliance Data provides marketing,
and transaction services for over 120 million consumer relationships and
employs over 9,000 associates at over 60 locations worldwide while OTI
provides contactless smart card technology in a range of sectors for
various global markets.
American Express and GE Money have signed a deal for AmEx to purchase GE’s Corporate Payment Services for $1.1 billion in cash. The deal is part of an ongoing strategy for AmEx to focus on the payments sector and follows the sale last month of its international banking subsidiary. Corporate Payment Services generated over $14 billion in global purchase volume and maintained $1.1 billion in receivables at year end 2007. Its billed business has grown at a compounded rate of 18% over the last five years. Corporate Payment Services was created in 1992 to issue GE’s corporate travel and entertainment cards and purchasing cards to GE employees. It has expanded to serve more than 300 large corporate clients. GE continues to be the unit’s largest single client and has signed a multi-year agreement to become a client of American Express.Details
Cashbox ATM installer/operator has reported its 2H07 performance,
demonstrating the number of installed machines having reached 1,820, a 5%
transaction revenue increase from the previous 6 months and a 36% increase
in gross profits/margin. Moreover, the company generated a turnover of GBP
2,271,000, a loss of GBP1,609,000 and a net debt of 5,022,000.
ViVOtech has entered into an agreement with wireless transaction provider USA Technologies to provide 25,000 contactless/magstripe card readers for USAT’s “ePort” technology. ePort Connect is the first complete portfolio of high-speed turnkey services for the multi-billion dollar unattended point-of-sale market. ePort Connect enables self-service terminals to accept all forms of cashless payments, handles all elements of the transaction processing, and allows customers to monitor their terminals online. The order follows USA Technologies making an initial purchase of 10,000 readers from ViVOtech in 2007 that were installed with the ePort in vending machines. ViVOtech provides techhnology in support of NFC mobile payments, promotions, Over-The-Air (OTA) provisioning infrastructure software, transaction management software, NFC smart posters and contactless terminals.Details
Level 4 has announced that Bank Al Bilad will be rolling out its ATM
software, functionality and services through its “ATM Developer” solution,
the 8th Saudi bank to do so. This allows the bank to ensure compliance
with EMV standard and SPAN2 ATM regulations, customise ATM screens,
and perform end-to-end testing of its ATM network, which eliminates the
need for the bank to rely on manual testing and reduces network down-time.
Moreover, allowing automated cash deposit at ATMs, Bank Al
Bilad will make available its bunch note acceptance service with Level 4’s
“Bunch Note Acceptor” module.
USA Technologies has launched the “ePort Generation Seven.” The Company’s G-6 was the first device to provide a cashless transaction solution for vending machines that integrated new radio frequency contactless card capability with the traditional swipe card process. The G7 provides these same benefits plus important new features to their customers at a new, lower price. USA Technologies’ new G7 accepts both traditional magnetic stripe credit cards and credit cards with tap and go technology. Some of the G7’s new features include all new prepaid, gift, loyalty, promotional, and NFC capabilities. “G-7” also has the ability to accept contactless and NFC based electronic coupons-which can be redeemed at the vending machine for instant rewards, discounts or points.Details
Shenzhen Ping An Bank has deployed the Clear2Pay “Online Citizen Identity
Information Check System” interface software at 90 of its branch
The Clear2Pay solution links the respective bank account to a database in
the Public Security Department in China, providing real-time verification
of the authenticity of identity cards. Moreover, with this development,
“Online Citizen Identity Information Check System” satisfies identify
verification requirements of the bank, which is now allowed to connect to
public id records to prorect against fraud.
KY-based Payment Alliance International has hired David Kozal, previously with First Data, as its new SVP and CFO. Kozal was CFO of First Data’s credit card processing unit and brings more than 20 years of banking and transaction processing experience to the team. Throughout his career, he has been instrumental in creating strong financial foundations for growing business units and involved in an impressive list of various mergers and acquisitions. PAI is a provider of credit card, check processing, ATM network management, cash management and business information services.Details
Suncorp and Hypercom have signed EFTPOS Agreements, stipulating the
latter’s takeover of the former’s terminals in an effort to upgrade
service to its merchant clients. With this, Suncorp merchants will have
installed new terminals within six months of the final agreements,
providing an expanded range of payment solutions.
About 68% of online shoppers who pay with a credit card do not know their liability coverage. This is according to a new national survey of 2,706 consumers conducted by JupiterResearch and commissioned by eBillme, the payment alternative that brings online banking to the eCommerce checkout. And, based on the distribution of other responses from the survey on this topic, it is clear that there is a high level of confusion as to the definition of maximum liability coverage, even among those who think they know what their level of maximum liability coverage might be. About 81% of credit and debit card users value fraud protection as the most important factor when selecting a payment option; over 4 times more important than rewards. Nearly 60% of credit card users and 56% of debit card users prefer product and service guarantees; over 3 times more than rewards on their purchase. Additionally, 45% of credit card users and 50% of debit card users value price protection and being offered the lowest available price; 2.5 times over rewards or points earned from making purchases for credit card users and over 3 times for debit card users.Details
CA-based E-payment technology provider MagTek now offers interoperability within MagTek’s IntelliCAT and Harland Financial Solutions’ Ultradata processing software used by credit unions. MagTek’s “IntelliCAT” System allows credit unions to offer enhanced services for their various card products such as instant issuance and secure PIN selection for debit, credit, ATM and gift cards. With “IntelliCAT”, members can now change their PIN on an existing card, or select their PIN when opening a new account or ordering a new MasterCard or VISA Debit card. Members instantly receive their permanent card at the same time they open their account, in contrast to the traditional wait of 7-10 days to receive their card in the mail. MagTek is a provider of electronic transaction technology, from magnetic stripe card readers and writers to high-accuracy MICR check readers and scanners, secure PIN issuance and cardholder verification systems.Details