Metavante Corporation has hired Timothy C. Oliver, currently VP and treasurer of Rockwell Automation to serve as senior EVP and CFO. Since May 2004, Oliver has been responsible for the global treasury, contracts, pricing and investor relations functions at Rockwell Automation. Prior to joining Rockwell Automation, he was vice president for investor relations and financial planning at Raytheon Company in Lexington, Mass. Previously, he spent five years at Honeywell (formerly AlliedSignal), and served as director of finance for the $1.6 billion Aviation Aftermarket business there. Oliver also held bond trading and investment banking positions at Bear Stearns & Co. and at Kidder Peabody & Co., New York City. Oliver received an MBA degree from the New York University Stern School of Business and a bachelor’s degree in economics from Williams College. Metavante Corporation delivers banking and payments technologies to over 8,600 financial services firms and businesses worldwide.Details
Gulf Bank of Kuwait has chosen selektpoints Loyalty Program which will
be implemented through Phoenix Technology Holdings “SCTN (OTC) End
to End Loyalty Solution”and Smart Chip Technologies. selektpoints is an
interoperable loyalty program that partners with “landlord banks” and
merchants to offer participants loyalty programs. The agreement
Gulf Bank will be the “landlord bank” in Kuwait and will offer customers
rewards at selected merchant establishments.
Houston-based US Dataworks reported revenues for the quarter ended March 31st of $2.3 million, an 11% increase over the same period a year ago. Net loss for the quarter was $1.3 million, compared to a net loss of $47,694 for the corresponding period in the prior year. The Company recently entered into a resale agreement with Hyundai Syscomm, which has delivered initial revenues of $1.0 million. The Company also noted that during the fiscal year there was a 65% improvement in its recurring, transactional-based revenues. US Dataworks says it will approach profitability as its ATM/teller-less kiosk revenues expand over the next few quarters. The Company estimates fiscal 2008 revenues to be in the range of $12-$16 million. US Dataworks is a developer of payment processing solutions. For complete details on US Dataworks latest results visit CardData ([www.carddata.com])
TSYS Card Tech has partnered with three Cyprus banks for the
implementation of EMV cards following the company’s certification
for VISA Smart Debit/Credit card(VSDC) and Mastercard M/Chip.
The EMV cards will replace the traditional magnetic-strip cards as
they reach expiration dates over the next two years. TSYS has
over 190 clients for whom it assists with EMV implementation and
supports the introduction of interest-free installment schemes. TSYS
Card Tech has clients in 75 countries with 13 offices worldwide.
Through its electronic channels, Emirates Bank has introduced the
Salik toll card re-charging service in conjunction with Roads &
Transport Authority’s (RTA) launch of the new convenience. Customers
can use the Salik service through Banknet and meMOBILE and can
be recharged through Emirates Bank ATMs and CDMs.
Furthermore, the bank is helping with the promotion of the Salik toll
card through pamphlet dispersion at bank branches.
The San Francisco Bay Area Toll Authority and Caltrans says it is converting more lanes at the region’s state-owned toll bridges to “FasTrak”-only lanes and will start construction on a series of other improvements to the freeway approaches and toll plazas. New customers who open FasTrak accounts from July 1 through Aug. 31 can receive up to $10 in free tolls. As more toll lanes are reserved exclusively for FasTrak-equipped vehicles, drivers will find fewer available lanes accepting cash. FasTrak-only lanes can process three times as many cars per hour as lanes where drivers stop to pay cash. There is no fee to open or maintain a FasTrak prepaid toll account, and no deposit is required for customers who use a credit card to open their account and request three or fewer toll tags. FasTrak enrollment is rising rapidly, with over 650,000 accounts now open in the Bay Area, up by nearly 100,000 since late 2006.Details
Providing “Gold Travel” and “TD Business” customers with travel rewards
on a “blackout free” basis, TD Visa has launched its “TD Visa Travel
Center” website. The website offers customers access to points
anytime, travel research and scheduling. For promotion of the news site, TD
Visa is announcing a contest in collaboration with Carlson Marketing. The
Contest will offer the winning cardholder a week’s vacation for four people and
160,000 “TD Points”. TD Bank Financial Group on-line financial services
has over 4.5 million on-line customers and $397 billion in assets.
GE Money has signed a credit card renewal and expansion agreement with Gap Inc. GE Money will issue co-branded VISA cards to customers of the Gap, Banana Republic, and Old Navy. GE Money also will continue to provide private label credit card programs for Gap Inc. through 2013. The new VISA cards will be offered at more than 2,600 Gap, Banana Republic and Old Navy stores. The new cards will offer a rewards program. GE Money has been providing credit programs to Gap Inc. since 1998 and currently offers Gap, Banana Republic and Old Navy private label credit cards.Details
GE Money has chosen Atos Worldline for its VISA credit card processing.
Using “SEMPRIS” core management, Atos processing offers GE Money
products based on market demands and services to generate profits in
about 3 months. GE Money also plans to implement online and offline
co-branding programs with the processing company. Atos uses “SEMPRIS”
to process card applications and card issuing to cardholder services for
7.2 million VISA and MasterCard cards. Atos Worldline handles over 500
co-branding programs and the parent company, Atos Origin, has annual
revenues of EUR 5.4 billion and it employs 50,000 people in 40 countries.
TNB Card Services has launched “Rewards2U” , a flexible rewards program for credit unions. “Rewards2U” is for credit unions of all sizes, and accumulates points for debit and credit cardholders based on card usage. Points may be redeemed for a broad selection of brand-name merchandise; downloadable music, videos, and mobile phone ringtones, unrestricted airline, hotel, and car rental travel options, including cruises; and charity donations. The program eliminates travel blackout dates and other restrictions letting cardholders redeem their points through any travel agency. Rewards2U can be customized so credit unions can rename it and brand it as their own offering. In announcing the Rewards2U program, TNB cited 2006 industry data from VISA that notes 77 percent of all credit card volume and 80 percent of all transactions were linked to rewards.Details
Fraud Management Technologies (FMT) has introduced its “Octopus
version 3.0” to prevent fraudulent access to Web applications before the
transaction is complete. The mitigation software uses a preprocessing
filter in a front-end application server to offer risk management for
e-ticketing. Furthermore, “Octopus V. 3.0” allows airline organizations
to alleviate online risks without compromising the genuine customer’s