IN-based Simon Property Group has been awarded “Best In Category” for their “Simon Giftcard” program at the 2008 Prepaid Card Expo. The Simon Giftcard program is the largest Visa bank-issued gift card program in the world. To date, more than 34 million cards have been sold. In 2007 the Simon Visa prepaid gift card program generated more than $500 million in sales. The gift card products are currently sold in 230 locations as well as online. In 2007, the program was expanded to include Discover and American Express products. The Simon Giftcard is issued by US Bank and MetaBank. The award is sponsored by Paybefore, a provider of information to the rapidly growing prepaid and stored value card industry. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers, The Mills, community/lifestyle centers and international properties.Details
To be held April 11th, 2008, The “Prepaid Cards Asia Summit” will be
targeting the region’s fast-growing prepaid industry, its issuers,
and merchants with new products and solutions. “Prepaid Cards Asia”
will provide merchants and bankers an opportunity to learn of the features
provided by prepaid card strategies and programs for preparation in a
competitive market place while providing attendees an opportunity to
network with decision makers and a chance to capture new prospects
leading to a subsequent increase in brand recognition. Overall, the Summit
provides for an increased awareness, an increase in business and the
strengthening of existing relationships in the industry.
GE Money and Michelin have announced an agreement to provide consumer financing through CarCareOne, a private label credit program managed by GE Money’s Sales Finance unit. Car owners can choose from 90-day, 6-month or 12-month no interest programs on their Michelin purchases. The program includes no annual fee and no down payment terms, as well as a full menu of promotional payment terms.Details
Since its launch in September of 2007, Citi Taiwan’s Young Adult
Financial Literacy Program (YAFLP) has taught more then 4,000.
With the help of the Financial Literacy and Education Association
R.O.C., YAFLP challenges participants with lectures, seminars and
essay competition on personal financial planning issues. Moreover,
the class is offered as either a two credit class or as a 1 four-hour
seminar course at 1 of 9 campuses. Citi has some 200 million customer
accounts in over 100 countries, providing consumers and organizations
with financial products and services.
Given the commencement of SEPA, Mastercard Europe has unveiled
Maestro debit cross-border transaction trends have increased significantly.
European cross-border Maestro debit card use has increased by 24%
since before the SEPA launch with supermarket transactions increasing
28% since 2007 and clothing transactions having surged 30%. Moreover,
42% of European Maestro debit card transactions were at merchant POS
terminals, up from 37% in 2005, while ATM cash withdrawals accounted
for 58% of the transactions in 2007, down from 63% in 2005. France
sees the greatest percentage increase of Maestro transactions completed
with foreign-issued cards.
MoneyGram has amended its merger with Thomas Lee Partners and Goldman Sachs. Under the revised terms investors will be able to purchase about 79% of MoneyGram for $760 million. The transaction will also be conditioned to acceptable terms and closing conditions of all parties by March 14. MoneyGram provides global payment services through remittance and payment processing solutions for financial institutions and retail customers, had a 2006 annual revenue of $1.16 billion and approximately 143,000 global money transfer agent locations in 170 countries.Details
MS-based ATM manufacture Triton has promoted Bob Douglas to lead Triton’s Engineering Department. Douglas is responsible for guiding the technical direction of the company, refinement of existing products and the development of new ATM models. During his 14 years at Triton, he has worked on every model ATM produced by Triton beginning with the popular 9500 model. Triton, with 180,000 installations in over 24 countries, is the largest provider of off-premise ATMs in North America and the fourth largest ATM manufacturer worldwide.Details
CIBC is set to unveil its “Aerogold VISA Infinite Credit Card”, offering
such features as travel medical insurance, trip interruption insurance and
various discounts. As an addition to CIBC’s “Aerogold” line, which provides
nearly 2,000 with the “Aeroplan Miles” frequent flyer program, the new
card allows users to earn 1.5 miles for every dollar spent. The CIBC
financial institution provides 11 million personal and business customers
with bank accounts, providing a range of products and services across
A report by the National Retail Foundation indicated that during February, retail sales rose 6.3% unadjusted over last year and were flat from January. February retail sales released by the U.S. Commerce Department show total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) decreased 0.6% seasonally adjusted from the previous month and increased 6.8% unadjusted year-over-year. Electronic and appliance stores sales decreased 0.4% seasonally adjusted from last month and increased 4.4% unadjusted from last year. Furniture and home furnishings stores sales also decreased 0.4% seasonally adjusted from January and decreased 0.3% unadjusted from last year. However, clothing and clothing accessory stores sales increased 0.2% adjusted from last month and 6.7% unadjusted year-over-year, and sales at health and personal care stores increased 0.5% adjusted month-to-month and 9% unadjusted from last year.Details
According to APACS findings, donations to charitable organizations
on plastic cards reached GBP 1.013 billion for 2007, up more than
GBP150 million from the year prior, marking the first time such
statistics have been recorded. Among these increases in donations, 2.9
were made using debit cards, 1.3 million were made using credit cards
and the overall, average donation in 2007 was GBP44.75. A third
card option for consumer donations is provided with the affinity card,
allowing donations with every purchase made. Moreover, affinity
cards were used for GBP7.5 billion in transactions on 4.8 million
different cards throughout the year.
Comdata has promoted Scott Phillips to executive vice president and general manager for Corporate Payments. Phillips has more than 16 years experience at Comdata, most recently as senior vice president and general manager of the Proprietary division. He previously served in many management roles at Comdata and in 2000 was responsible for the launch of Comdata’s Debit business into new industries. Prior to entering management in 1998, Phillips served in a national accounts sales role where he managed many of Comdata’s largest accounts in the Proprietary division. In 2007, Corporate Payments issued more than 2.3 million cards and transferred more than $24 billion in funds in proprietary, credit and debit payments.Details
Yucheng Technologies and China Financial Certification Authority (“CFCA”)
have signed agreements to jointly launch an e-banking Application Service
Provider (“ASP”) for countrywide banks and credit unions. For the
Yucheng will provide hardware, its e-banking solutions under an ASP model
and provide customization to the ASP platform while the CFCA will
maintain the platform for transaction security and service availability.
partnership provides banks with outsourced applications, support and
maintenance over an economical platform. China has 5 national commercial
banks, 12 joint-stock commercial banks, over 115 city commercial
banks and more than 19,000 city/rural credit unions. The CFCA is, in
itself, a joint venture of 13 banks under the leadership of the People’s
Bank of China and provides an authority for security certification while
Yucheng Technologies Limited provides IT services to the Chinese banking
industry with its more than 1,700 employees.