Chordiant Software announced that it is working with First Data International to develop a card servicing contact center solution as a service for First Data’s global issuing customers. The new value added service will deliver an enhanced user and customer experience to First Data’s strategic “VisionPLUS” processing solution by facilitating natural-style conversation, flexible business process automation, an intelligent full view of the customer, and a highly intuitive user interface. VisionPLUS is used by financial services companies around the world, and today processes approximately 380 million card and loan accounts. The offering will utilize Chordiant’s “Enterprise Platform”, “Decision Management Suite” and “Contact Center Advisor”. Chordiant Customer Experience solutions blend insight with predictive desktop decisioning to understand the customer’s behavior.Details
Abu Dhabi Commercial Bank has launched a contactless MasterCard. The new “ADCB Flash MasterCard” offers “PayPass” technology. The new card allows cardholders to simply “Tap & Go” for purchases under AED100.
Customers will discover queues are shorter, making fast food
even faster at Burger King, shopping at Choithram will be quicker, and
coffee breaks can be maximized at Cinnabon. Several other shopping and
entertainment locations across the UAE also accept the “ADCB Flash
MasterCard Credit Card” with “PayPass.” The new card also has the extra security of being a “MasterCard OneSmart” card, complete with chip technology that makes it difficult to counterfeit.
Global Technologies Investment will incorporate and operate
Payment By Cell Inc. Payment By Cell was designed to develop
business with banks, credit cards, and other financial products and
institutions in the Latin American region. This is based on the
and direct collaboration with local operations, which allows cash flow in
promotion and generation of market share.
GreatCanadianRebates.ca member number has reached over 10,000,
providing users with cash back rebates when they sign in and make purchases
on shopper websites. The average member earns $35.18 over a 6 month
period from over 300 possible retailers. Each retailer offers a specific
in cash back rebates, mostly in the 3% to 10% range, but can be as high as
50%. Cash back savings are paid to members through PayPal or cheque, 48%
of whom are from Ontario, 13% from B.C., 10.9% from Alberta and 7.8%
from Quebec. The site is free to consumers and is 100% Canadian owned.
Moneris Solutions announced that Optimal Payments Corporation has signed an agreement for BIN Sponsorship through Moneris. Under the multi-year agreement, Optimal Payments will look to expand their merchant acquiring programs by leveraging BIN sponsorship through Moneris. Optimal Payments processes credit card payments for Internet businesses, mail-order/telephone-order and retail point-of-sale merchants, and processes electronic checks and direct debits online and by phone. Moneris provides transaction-processing services nationwide through numerous agent banks and serves the small to medium-sized business market through direct sales and strategic partnerships.Details
The House of Lords and UK’s Technology Committee have advocated
that the government, Internet Service Providers, and hardware/software
manufacturers take action to protect Internet users. This movement cites
evolving e-criminal skills and organization with the intention of financial
gain at others’ expense, a growing trend. In their advocation, the house
is recommending increased resources available to authorities to catch and
prosecute e-criminals, a centralized and automated system for e-crime
reporting, incentives to financial institutions to improve security and
encouraging Internet service providers to improve security.
Houston-based Cardtronics reported second quarter revenues of $77.2 million, a 5.3% increase over 2Q/06. However, the Company posted a net loss for the second quarter of $5.6 million, compared to net income of $0.8 million for the same period last year. Cardtronics says the revenue increase was primarily attributable to the Company’s focus on growth in its United Kingdom ATM operations. The loss was related to selling, general, and administrative costs and vault cash costs, as well as higher depreciation expense amounts associated with additional ATM deployments in the United Kingdom and Mexico and incremental development costs associated with the Company’s in-house processing conversion efforts. Average transacting ATMs for the second quarter totaled 25,484, which represents a decrease of 1.1% from 2Q/06. Average cash withdrawal transactions per ATM per month during the second quarter increased 5.9% to 432, and average revenues per ATM per month in the second quarter increased 6.4% to $967. In July, the Company acquired the ATM portfolio of 7-Eleven, adding 5,500 high-volume ATMs and Vcom units to its portfolio, making Cardtronics the largest ATM network in the world. For complete details on Cardtronics’ second quarter performance visit CardData ([www.carddata.com]).
Austin, TX-based Austin Ventures’ CreditCards.com, Inc. has filed a registration statement with the SEC for an IPO. The credit card application aggregation service posted revenues of $27.4 million for the first six months of this year, compared to $18.7 million for the same period one-year ago. The firm paid $12.0 million in sales and marketing expenses to generate Web traffic, mostly from Google, during the first half of 2007. Last year the firm produced nearly $43 million in revenues from commissions earned from nine of the ten largest credit card issuers. About 60% of its traffic is produced from paid ads while the rest is generic domain name traffic. In 1999 Los Angeles-based Electronic Card Systems acquired and changed its name to creditcards.com. Boston-based marketing firm DealJam LLC acquired the domain name for an undisclosed amount in 2001 from ECS. Austin-based ClickSuccess purchased the domain name for $2.75 million in July 2004 from DealJam. ClickSuccess sold the business to Austin Ventures in 2006 for $98 million. (CF Library 3/5/99; 2/13/02; 7/21/04)Details
Las Vegas-based Cash Systems has named Charles S. Crawford, previously SVP of Corporate Development at Optimal Payments, as EVP of Operations. Crawford will oversee the day to day initiation of services for Cash Systems’ new casino partners, the continued reliability of real-time services and technical support to consumers and clients, as well as operational planning and implementation of new product offerings. Crawford served in a variety or roles with Optimal, most recently as SVP of Corporate Development and previously as Senior Vice President of Operations, a position that included oversight of client administration, consumer transaction risk management, bank and processor relations, client relations, transaction funding and reconciliations, project management and other day-to-day functions. Crawford entered the payments industry originally as President of Electronic Card Systems, Inc., a representative of merchant banks and served concurrently as the COO of its sister company, Electronic Authorization Systems, Inc., a provider of pre-transaction risk screening services. He has a Bachelors of Science degree from University of Nevada.Cash Systems is a provider of cash-access and related services to the retail and gaming industries.Details
ConsumerInfo.com has entered into a settlement agreement and obtained an injunction against Mighty Net in a trademark infringement case. As part of the settlement, Mighty Net is required to change its business practices and make a monetary payment to Experian Consumer Direct. Experian Consumer Direct filed suit against Mighty Net in March 2006 for trademark infringement, claiming that Mighty Net copied Experian Consumer Direct’s URLs, logos, and the look and feel of its Web sites in order to drive traffic and create interest in Mighty Net’s products and services. To comply with the settlement, Mighty Net cannot copy Experian Consumer Direct’s current and future URLs, logos, the look and feel of Web sites, or advertisements. In addition, Mighty Net cannot state that Experian Consumer Direct or its sister company, Experian, authorizes or endorses its products or services in any way without written consent.Details
Restaurant self-service solutions provider EMN8 has announced the addition of Michael “Mike” Crawford, previously, SVP of engineering at Syntricity, to serve as the company’s senior vice president of engineering. At Syntricity, Crawford was responsible for R&D product development, product management, the customer support organization and quality assurance. While there, Crawford introduced a combination of technologies and architecture that provided a foundation for a highly interactive user interface for advanced analytics in the development of semiconductors. Crawford has also served as a vice president of engineering for Prisa Networks, Inc., EMC Corporation, Loral Telemetry and Instrumentation, and as senior vice president of engineering at Lockheed Martin and L-3 Communications. EMN8 develops animated, rich-media self-service solutions for the restaurant industry.Details
A consumer index forecasts a weak spending outlook, primarily due to continued falling home prices. The Deloitte Research index found that large amounts of housing inventory continue to exert downward pressure on home prices, creating a negative wealth effect among consumers. However, partially countering the housing impact, the growth in the tax burden on households has slowed, the labor market is robust and real wages continue to be strong. The index, comprising four components – tax burden, initial unemployment claims, real wages and real home prices – fell to 2.67%, from an upwardly revised gain of 3.08% a month ago.Details