LifeLock and the Los Angeles County Bar Association have entered into a partnership to offer LACBA members and their families a discount on LifeLock’s monthly service to secure their identities. LifeLock enables “locks” by setting and automatically renewing fraud alerts with the major credit bureaus, removing member names from pre-approved credit card offers and junk mail lists and guaranteeing the service with their industry-exclusive $1 million guarantee. The Los Angeles County Bar Association (LACBA) is the largest local voluntary bar association in the nation with a membership of over 27,000 attorneys. Federal Trade Commission has reported that The Los Angeles metropolitan area registered nearly 17,000 complaints with the FTC for identity theft in 2006, up more than 1,000 from 2005.Details
Discover Financial Services began trading this morning on the New York Stock Exchange as an independent company with an opening price of about $28.50 per share. The card network also announced the addition of Gregory Case, CEO of Aon Corp. and E. Follin Smith, former CFO for Constellation Energy Group, to the company’s previously announced Board of Directors designees. Other outside directors include: Jeffrey Aronin, President and CEO of Ovation Pharmaceuticals; Mary Bush, former U.S. Government representative on the IMF Board and former head of International Finance at Fannie Mae; Robert Devlin, former Chairman, President and CEO of American General; Philip Laskawy, former Chairman and CEO of Ernst & Young; Michael Rankowitz, senior advisor to Morgan Stanley; and Lawrence Weinbach, former Chairman and CEO of Unisys Corporation and former Managing Partner and Chief Executive of Andersen Worldwide. David Komansky, Chairman Emeritus of Merrill Lynch will join the Board later in the year. CEO David Nelms has been leading Discover’s business since 1998 and will sit on the company’s Board of Directors. Roger Hochschild will continue in his current role as President and COO, and Roy Guthrie will continue to serve as CFO.Details
Internet Retailer ranks “Stone Edge Order Manager” as a top choice among America’s largest online retailers. The Stone Edge Order Manager, which began seven years ago as a simple program for importing orders and printing invoices and packing slips, has grown into a wide-ranging tool for e-commerce business management. It is currently used by over 1,500 merchants to automate and streamline their operations. Stone Edge Technologies is a privately owned developer of affordable e-commerce software for small businesses.Details
CPI Card Group has partnered with private equity firm Tricor Pacific Capital. The existing management team of CPI will remain in their current capacities. Bob Clarke, Russ McGrane and Scott Heck will move forward in their current capacities and as shareholders in the new partnership. as Antonio Accornero plans to retire. CPI Card Group is a manufacturer with the capacity to produce over one billion standard, contactless, foil, textured, scented and translucent cards. Tricor Pacific Capital has approximately $800 million of funds under management.Details
NCR Corporation has completed the deployment of 220 ATMs and
implemented its “APTRA Advance NDC” Software for PKO Bank
Polski(PKO BP). Among models PKO BP has chosen to deploy is
the “bvR Personas M Series 86” ATM which allows for future upgrades.
Also with these ATMs are real-time alerts to NCR ATM technicians,
built in cameras and EMV-certified software solution for security. Other
security features include motorized card readers, standard Triple Data
Encryption Standard coding, combined with available remote distribution
of code keys and NCR’s Enhanced Card Drive. PKO BP has 1,200
branches, almost 2,300 agencies, and 2,100 ATMs throughout Poland.
NCR Corporation employs approximately 29,500 people worldwide
and develops business solutions.
Fiserv EFT has signed a seven-year transaction processing and ATM management agreement with ISO Select-A-Branch. Select-A-Branch offers a patented process that allows Select-A-Branch ATMs to recognize the financial institution associated with each ATM card presented and cardholders receive branded, surcharge-free transactions. Select-A-Branch ATMs are currently located along the Pennsylvania Turnpike and in other prominent center city Philadelphia locations. SAB’s patent pending ATM Software Solution allows banks and credit unions to deliver a branded, surcharge-free ATM transaction to any of its customers/members at any SAB ATM. Fiserv EFT provides ATM and debit services to more than 2,700 financial institutions across the United States. Fiserv reported more than $4.5 billion in total revenue for 2006.Details
ValuAcess has chosen to use VeriFone’s “PAYware Giftcard” platform for
implementation throughout East Asia. The platform allows for merchants to offer rewards systems and make available giftcards for purchase in stores other than their own. Retailers that have implemented the solution include HMV, the Dymocks
bookstore chain and the Hong Kong trade development council’s Design
Gallery. This gift card management system enables retailers and gift card
providers to design, launch, and operate an end-to-end electronic
gift card program designed to improve cost efficiency.
Northwest Airlines is now offering PayPal and will award Bonus Miles when purchasing tickets online. Northwest Airlines is offering WorldPerks members 500 Bonus Miles for purchasing tickets at nwa.com using a PayPal account. WorldPerks enrollment is required. Northwest Airlines offers approximately 1,400 daily departures and is a member of SkyTeam, an airline alliance that offers customers one of the world’s most extensive global networks.Details
Barclays Bank UAE has introduced the biometric-enabled ATM using
fingerprint scanning for identity verification. These ATMs will be
implemented with NCR’s ATMs, the company that will also be providing
maintenance for the machines in the UAE. The new ATMs will also
provide intelligent deposit service, eliminating the need for envelopes,
and a “Self Service ATM Experience”.
Hypercom is outsourcing its manufacturing and is consolidating its assembly, software, repair and maintenance functions globally. The Company also announced a reconfiguration of the Company’s global sales and marketing functions and a major manufacturing deal with Singapore-based Venture Group. Among changes thus far: printed circuit board assembly operations formerly in Shenzhen have already been outsourced to the Company’s manufacturing partner’s facility in Johor Bahru, Malaysia; relocating U.S. service and repair operations from Phoenix, Arizona to Hermosillo, Mexico, and selling the Phoenix facility and adjacent land to a smaller facility. Hypercom also expects to wind-down its direct product manufacturing operations in Brazil by September. The Company also announced a partnership with Venture Corporation to transition Hypercom’s entire manufacturing operations in Shenzhen, China to Venture locations during 2007 and 2008. Additionally, Hypercom announced a reconfiguration of the Company’s global sales and marketing functions to create a focused platform for revenue growth, streamline the organization, and further strengthen accountability for client relationships and anticipated market share growth globally.Details
I2c has released its “Sales Channel Pro and Sales Channel Matrix” commission tracking solutions. “Sales Channel Pro” allows program managers to design, manage and automate the calculation of variable payment and commission plans. Stakeholders, services and rates are identified in a tree hierarchy and this information becomes the sales policy for the program. Once defined, each stakeholder is given secure access to sales information and commission details based on their user role. “Sales Channel Matrix” is a simpler but less flexible option than Sales Channel Pro. Matrix has two dimensions; a level in the chain and a stakeholder category. At the intersection of these two values, the commission for any service provided is defined. The size of the matrix and the number of levels are configurable. The Matrix is only defined once for the entire program. However, a card program that uses Sales Channel Matrix can have only one matrix attached to it. i2c is a global technology provider of electronic payment processing solutions.Details
Discover will officially become a independent company tomorrow and will begin regular trading Monday, July 2. This morning CEO David Nelms and other top Discover executives rang the New York Stock Exchange Opening Bell. The new public company will trade next week on the NYSE under the symbol “DFS” and will become part of the “S&P 500.” Earlier this month, Discover Financial Services reported net income of $209 million for the quarter ended May 31st, compared with record net income of $343 million for the second quarter of 2006. The second quarter of 2007 included approximately $20 million of pretax costs related to the spin-off from Morgan Stanley. Philip Purcell, Morgan Stanley’s last CEO, first announced in early 2005 that he wanted to spin-off the Discover unit which the Board approved in April 2005. After Purcell was forced into retirement a few months later, his successor, John Mack, shelved the spin-off plan only to revise it in December 2006. (CF Library 12/19/06; 3/26/07; 6/20/07)Details