MasterCard Canada has rationalized Canadian shopper classifications with
its “MasterCard Canada Holiday Shopper Classification”. To examine the
different kinds of shoppers, the “Holiday Shopper Classification” divides
these consumers into 4 different categories; “stressed for the season”
for 19% of the consumers, 30% are “pragmatic shoppers”, 24% are
“shop-aholics” and 27% of consumers are “super shoppers”. MasterCard
defines the pragmatic shoppers as the most sensible, shop-aholics as the
least rational, stressed shoppers as the most procrastinating and super
shoppers as the most budget-minded. These categories have been further
dissected to examine consumer behaviors and attitudes showing that 48%
of Canadians have at least 10 people for whom to shop with 61% Atlantic
Canadians, 65% Manitobans/Saskatchewans and 60% of Albertans.
Additionally, 10% will spend over $2,000 this season while 34% will spend
less than $500. MasterCard processes over 16 billion transactions annually
offering services in over 210 countries.
MasterCard Canada has rationalized Canadian shopper classifications with
NJ-based On Track Innovations reported that revenues in the third quarter was $9.9 million, an increase of 23%. In the quarter GAAP gross profit was $3.6 million, an increase of 5% compared to 3Q/06. However, the non-GAAP net loss for the third quarter was $6.0 million, an increase of 263% compared to the third quarter last year. OTI says its revenues have grown slower than expected and its loss was bigger than expected. The increase in operating expenses included a $2.5 million provision for doubtful accounts. The Company is also involved in large scale projects that are characterized by long implementation cycles. During the quarter, OTI was selected to provide Garanti Payment Systems with its “Saturn 6000” contactless reader for security-enhanced EMV transactions for Garanti’s “Tap & Go” program. OTI updated its forecast for 2007 to reflect revenue growth of about 10% compared to 2006. For more information on OTI’s third quarter performance visit CardData ([www.carddata.com]).
Rosh Pina-based On Track Innovations reported that revenues in the third quarter was US$9.9 million, an increase of 23%. In the quarter GAAP gross profit was US$3.6 million, an increase of 5% compared to 3Q/06. However, the non-GAAP net loss for the third quarter was US$6.0 million, an increase of 263% compared to the third quarter last year. OTI says its revenues have grown slower than expected and its loss was bigger than expected. The increase in operating expenses included a US$2.5 million provision for doubtful accounts. The Company is also involved in large scale projects that are characterized by long implementation cycles. During the quarter, OTI was selected to provide Garanti Payment Systems with its “Saturn 6000” contactless reader for security-enhanced EMV transactions for Garanti’s “Tap & Go” program. OTI updated its forecast for 2007 to reflect revenue growth of about 10% compared to 2006. For more information on OTI’s third quarter performance visit CardData (www.carddata.com).Details
A new survey shows that Americans plan to spend 25% of their total gift spending on gift cards, up from 18% last year and 13% in 2005. Shoppers will buy six gift cards on average. The most popular gift categories this year, according to the American express survey, are apparel, cited by 69% of consumers, followed by music CDs and DVDs at 62% and gift cards at 61%. Shoppers say they are likely to give them to friends or acquaintances (75%, up from 56% in 2006); aunts, uncles, cousins or other relatives (75%, up from 58% in 2006); service workers such as a babysitter, teacher, housekeeper, or postal worker (71%, up from 43%); a child or friend’s child (69%, up from 54%); parents (57%, up from 40%); coworkers (49%, up from 39%); and girlfriends or boyfriends (35%, up from 23%). Nearly a third of spouses (32%, up from 23%) may receive a gift card this year. Nearly half (45%) of those who might be getting a gift card asked for one.Details
To provide for secure contactless payments, XIRING has introduced its
“CL Watcher” solution, which protects the card using metal shielding. This
shielding blocks card functionality when not in use to protect from
unintentional transactions and “modern pick-pockets”. “Modern pick-pockets”
can electronically access information from un-protected contactless cards.
When the cardholder does choose to use his/her contactless device, however,
“CL Watcher” can be deactivated voluntarily. In addition to providing
protection of contactless devices, “CL Watcher” also provides the consumer
with a small LCD screen when the contactless card is in use to
amount of the transaction. The new XIRING solution has been designed to
give contactless card carriers more control over the security of their
GE Money and retailer Joe’s Sports & Outdoor have announced a five-year agreement to provide the “Joe’s Sports & Outdoor credit card.” The private label credit program enables sports and fitness enthusiasts to take advantage of special financing offers, advanced sales notifications and exclusive discounts. Joe’s Sports & Outdoor customers can use the card to purchase products and services, including sports and fitness apparel, team items, gear, game room supplies, winter and summer sports equipment repairs, as well as roof racks and other accessories for cars, trucks and SUVs. The Sport Finance Program will be available as a payment option at the sporting goods retailer’s 29 locations throughout Oregon, Washington and Idaho.Joe’s Sports & Outdoor operates 29 stores in Oregon, Washington and Idaho. Revenues for this fiscal year are expected to exceed $275 million.Details
Citibank and Shell Oil have collaborated to launch the “Shell
Citibank Credit Card” providing up to 5% discounts on gas. The
new card has been designed to lessen the cardholder’s monthly fuel
expense and other everyday expenses by offering rebates through
purchases at any of Shell’s 900 outlets and the 27,120,000 VISA
outlets around the world. Given these incentives, the partner companies
project 100,000 new customers by 2009. Citibank currently holds a
20% market share in Malaysia and has over 145 million cards in 40
countries. Citi currently has nearly 200 million customer accounts
throughout 100 countries while Shell operates its fuel retail business
through more than 46,000 retail stations in over 90 countries.
Nearly one-third of thirty major retail sites experienced significant slow-downs on Friday that impacted the product search and check-out processes that will likely affect online sales. Also, popular items such as the “Nintendo Wii” and “Zune” mp3 players sold out quickly on “Black Friday.” Keynote reports that its monitoring of retail site performance showed a definite slow-down in site performance over the course of “Black Friday.” The worst performing sites on “Black Friday” were showing up to a 400% slow down and well-known brands such as Buy.com and Lowes experienced significant slow downs. However, Keynote noted that none of the leading sites it monitors appeared to go completely dark on Friday, whereas several leading sites experienced periods with complete outages last holiday season. Meanwhile, eBay companies, including Shopping.com and PayPal, reported that Shopping.com traffic to merchants in the “Gifts/Flowers” and “Clothing/Accessories” categories throughout the “Thanksgiving” holiday grew by 57% and 52% respectively year-over-year. Overall, Shopping.com’s traffic to merchants increased 61% over last year’s “Black Friday,” November 24, 2006. eBay noted that, based on the previous five years of PayPal’s online shopping research, data show that Mondays are the busiest day of the week for online shopping and the second Monday in December is solidifying its place as the actual busiest online shopping day of the season. In 2006, online shopping activity on PayPal was 96% higher on the second Monday in December than on “Thanksgiving Day.”Details
Ontario-based RDM Corporation posted revenues of $7.5 million in the three month period ended September 30th, an increase of 3.5% from the year ago quarter. Net earnings were $636,000 in the quarter, positively impacted by the recognition of $666,000 of federal investment tax credits as a reduction to R&D expense. Overall, total revenue for the past twelve months were $33.9 million, up 39% over the prior year. Annual gross profit hit $13.5 million, up from $10.0 million in 2006. RDM’s Electronic Payments Solutions, however, saw revenue plummet from $5.5 million in 2006 to $3.2 million in 2007. RDM provides software and hardware for electronic payment processing and provides banks and agencies with web-based image and transaction management services.
For complete details on RDM’s latest results visit CardData (www.carddata.com).
Cash Systems has implemented “powercash” at Fantasy Springs Resort Casino, a first product of the Company’s joint venture with Bally Technologies and Scotch Twist. Casino patrons enroll in the casino player’s club program with the Company’s cashclub functionality and access funds from their desired credit, debit or checking accounts while sitting at the gaming device. Players will be able to request funds from the designated financial account, transfer those funds into their player’s club account and then transfer down to the gaming device the amount of money that they want to use. Cash Systems is a provider of cash-access and related services to the retail and gaming industries.Details
Today is projected to be the heaviest online spending day on record with sales expected to top $700 million. Top retailers have plugged into the action by running special promotions such as Wal-Mart’s “Cyber Week” and Macy’s “web-busters.” comScore says e-commerce spending on “Thanksgiving Day” rose 29% to $272 million and “Black Friday” increased 22% to $531 million. The digital measurement service predicts “Cyber Monday” e-shopping this year will jump 16% from $608 million in 2006. comScore says more than $9.3 billion has been spent online during the season-to-date, 17% gain over last year. Meanwhile, Macy’s “web-busters” promotion is today offering free shipping on orders of $75 or more. The retailer is also featuring one-day-only “web-busters” plus nearly 80 other handpicked specials in all merchandise categories. Walmart today kicks-off “Cyber Monday” with five days of online specials offering significant savings. The giant retailer has nearly tripled the number of online specials this year since last year and is introducing a “daily featured item” each day this week. According to Forrester Research, online payments are predicted to top $33 billion this season, a 21% increase over the holidays in 2006. According to a Shop.org survey, conducted this weekend by BIGresearch, 72.0 million consumers plan to shop online from home or at work tomorrow, up from 60.7 million in 2006 and 59.0 million in 2005.
Thanksgiving Day $210MM $272MM
Black Friday $430MM $531MM
Cyber Monday $608MM $701MM