Chase Beefs-Up its Sheetz blink MC

PA-based convenience store chain Sheetz has teamed with Chase to launch an enhanced “Sheetz MasterCard with blink.” The enhancement is a more robust “Sheetz Rewards” program. Under the new program cardholders receive a 10% rebate on all Sheetz purchases and a 2% rebate for all other purchases for the first 90 days the account is open. Thereafter, a 3% rebate on all Sheetz purchases; 2% on groceries, travel and dining purchases; and 1% on all other eligible purchases. The rebates can be redeemed for $25 gift cards from various retailers. In May 2005, the “Sheetz MasterCard” became the first co-branded credit card to feature “blink,” Chase’s contactless payment option. Sheetz operates 330 stores throughout Pennsylvania, West Virginia, Maryland, Virginia, Ohio and North Carolina. (CF Library 5/27/05)

Details

TRM Potentially Grinding to a Halt

OR-based TRM confirms that its auditors have raised a question about the Company’s ability to continue as a going concern. PricewaterhouseCoopers noted that last year’s net loss resulted in the Company’s inability to meet its financing agreements and it does not expect to meet the required financial covenants this year as well. During January, the Company sold its Canadian, United Kingdom and German ATM businesses and its U.S. photocopy business and used the proceeds to pay some of its loans. On May 15th the Company signed waivers on its financing agreement with the primary lender. Last week TRM announced that COO Richard Stern will take over as President and CEO effective June 15th, replacing CEO Jeffrey Brotman. Brotman will remain with the Company as non-executive Chairman. TRM also reported that fourth quarter revenue declined to $24.9 million, compared to $29.8 million for 4Q/05. In January 2006 TRM engaged Allen & Company to explore strategic alternatives to enhance shareholder value. (CF Library 1/18/06; 5/23/07)

Details

i2c Adds More Flexibility to InTouch

i2c Inc. has released “InTouch”, enabling clients to autonomously change the welcome greeting and up to three announcement messages played when cardholders call the IVR for customer service. i2c clients can access the IVR system via a telephone and interact with the IVR system to record, edit and/or re-record messages. InTouch can play a variety of interesting announcements until an agent is available to take their call. These messages may provide product information, promote services or educate callers about the company. Messages can be scheduled to play on certain dates for holidays and events and can be used to prompt callers to have information available before talking to a live agent and helps prepare the caller, speeds up call processing and occupies the caller while they wait on-hold. i2c is a global technology provider of electronic payment processing solutions.

Details

WVU Mountaineer Gift Card Launched

Glimcher Realty Trust and NBO Systems have partnered to issue the West Virginia University “Mountaineer Gift Card”. The Gift Card may be used to purchase products or services everywhere Discover Network Cards are accepted and are available in denominations from $25-$500. The Mountaineer Gift Card is now available for purchase at the management office at Morgantown Mall in Morgantown, WV and at the Guest Services Center at Grand Central Mall in Parkersburg, WV. Glimcher Realty Trust is a real estate investment trust that specializes in the ownership, management, acquisition and development of shopping malls. NBO Systems develops, markets and supports stored-value prepaid card programs.

Details

TLC Greenlights VTS for NYC Taxis

VeriFone Transportation Systems has become the first to be approved for the full-scale roll-out in New York City taxis. The Taxi & Limousine Commission has mandated that beginning October 1st all medallion yellow taxicabs are to install an interactive electronic passenger map and information screen, and credit/debit card acceptance. Systems implemented by VTS are the first to obtain a formal “Notice to Proceed” from the TLC, authorizing installation and use in any of the 13,000 licensed cabs in the city. The VeriFone-based solution utilizes wireless technology to provide integrated payment in the passenger cab, including a card swipe and contactless payment for credit and debit payment of fares, in an ATM style interface. Riders have the option to select a preset tip from a list of choices, or input their own amount. A 10.4-inch touch-screen monitor provides news and content for passengers through an exclusive partnership with WABC-TV New York. Content selections include news and weather from WABC; sports from ESPN; and information on restaurants, night life, hotels and attractions from Zagat Survey. Near-term enhancements will include traffic, movie previews and local event information at the touch of a button.

Details

First Data Releases PREDIGY 5.0

First Data’s Intelligent Results announced the launch of “PREDIGY 5.0,” a platform for partners to deliver hosted analytics and decisioning. PREDIGY is currently serving financial services, utilities, telecom, and specialty retail customers. Intelligent Results’ partners develop their own applications built on the PREDIGY platform, enabling them to deliver strategic analytics capability to their customers. The force behind increased acceptance is the growing recognition of the need to apply data-driven decisions to all aspects of business â” from acquisition, through risk management and fraud, to execution of more cost-effective marketing, cross-sell, loyalty, and retention programs.

Details

Lipman Drives VeriFone Revenues Up 53%

VeriFone reported that its net revenue for the quarter ended April 30th surged 53% to $217.2 million, largely driven by the Lipman acquisition and strong international performance. The Company noted that its wireless products remain strong and its North American business was up 8% from the previous quarter. During the quarter, VeriFone completed a successful pilot with American Express for its “Vx 670” “Pay at the Table” solution; continued working with the Tesco contract, where the “VeriFone Secura” outdoor payment system is enabling integration with ECRs, pumps and a range of unattended devices in a Wincor Nixdorf-led project; and announced wins at Ahold Group members Stop & Shop and Giant-Landover food stores. VeriFone raised its third quarter internal expectations for net revenue to $225 – $227 million. For complete details on VeriFone’s latest performance, visit CardData ([www.carddata.com][1]).

REVENUE HISTORICAL
1Q/05: $117.9 million
2Q/05: $125.7 million
3Q/05: $130.5 million
4Q/05: $134.6 million
1Q/06: $142.2 million
2Q/06: $147.6 million
3Q/06: $156.6 million
4Q/06: $216.6 million
1Q/07: $217.2 million
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

Details

GCA Enables the 2007 WSOP Tournament

Global Cash Access has landed a deal to provide The World Series of Poker with a wider selection of cash access and funding options for this year’s “2007 WSOP Tournament”. The WSOP drew 8,773 participants for the $10,000 buy-in Main Event in 2006 and saw more than 48,000 entries compete for a gross prize pool in excess of $171 million. GCA provides proprietary technology that helps patrons access cash via ATM, debit card, check cashing and credit card cash advance transactions for gaming entertainment.

Details

COF CIO Steps Down; Veteran Steps In

Capital One announced that CIO Gregor Bailar will be stepping down and that Robert Alexander, who currently serves as Capital One’s EVP for Internet and ECM, will assume the role of CIO and Head of ECM. Alexander will be responsible for all CIO accountabilities including enterprise-wide IT strategy, IT infrastructure and architecture, and central data management, information risk and business continuity. Most recently, Alexander served as the lead executive for the largest information technology system replacement program in the history of Capital One. Alexander led a three-year, cross-functional effort to deliver the new infrastructure for Capital One’s credit card businesses, replacing the billing system and ancillary systems and processes. Since joining Capital One in 1998 from Boston-based strategic consulting firm Bain & Company, Alexander has had responsibility at various times for a number of Capital One’s lending businesses, including the US Credit Card and Installment Loan businesses, providing oversight to all marketing, portfolio management, and credit policy activities associated with these businesses. Alexander also led the formation and start up of the company’s credit card e-commerce business.

Details

Debit Card Usage Among Women Soars

MasterCard released a survey on women and debit cards which showed that 77% of those under 55-years old have primary or shared fiscal decision-making responsibilities with 85% indicating that they are increasingly using their debit card to help manage personal finances. The “Women in the Financial Marketplace” analysis, part of the “Yankelovich MONITOR 2006/07” study commissioned by MasterCard, also found that debit card usage by women has more than doubled since 2003, growing from 20% to 43%. Women now represent 61% of the most frequent debit card users.

Details

HSBC Finance Names a New Board Member

HSBC Finance Corporation has appointed Louis Hernandez, CEO of Open Solutions, to its board of directors. Under his leadership, Open Solutions, a provider of integrated data processing technologies for financial institutions worldwide has become one of the financial industry’s fastest growing companies with over 5,000 clients worldwide, 2,000 employees and 2006 revenue of approximately $395 million. Prior to Open Solutions, he was chief financial officer for RoweCom, an electronic commerce software vendor to financial services, healthcare and academic markets. Additionally, he was chief financial officer and corporate secretary for U.S. Medical Instruments Inc., a medical devices company, and held various positions within the Business and Advisory Group of Price Waterhouse LLP. Hernandez obtained his bachelor’s degree and MBA from San Diego State University.

Details

Average Active Balances Rise 7% in 06

The average balance per active account among the nation’s top 10 VISA and MasterCard issuers increased 7.2% last year. However, over the past five years the average has held in a relatively tight range with a peak in 2003. According to CardData ([www.carddata.com][1]) the average balance per active account hit $2,523 in 2006, compared to $2,352 for the prior year and $2,487 in 2001. In 2003, the average balance per active account hit a record $2,683.

Issuer Active ADB
1. JPM Chase $3,562
2. Bank of America $3,241
3. Citibank $2,180
4. Capital One $2,493
5. HSBC $1,640
6. Wash Mutual $2,765
7. Wells Fargo* $2,481
8. USAA FSB $3,821
9. U.S. Bancorp $1,783
10. Target $1,264
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

Details