ExxonMobil, along with TIO Networks and NetSpend have launched the “TIO Prepaid MasterCard” at participating Exxon and Mobil convenience store locations. Consumers will be able to use TIO’s automated self-serve kiosks to instantly activate the card and load it with funds. Cardholders can load funds onto their “TIO Prepaid MasterCard” at NetSpend authorized reload locations across the country and maintain up to a $5,000 balance. The card features include free Direct Deposit, free “Anytime Alerts” with balance and transaction details sent to a cardholder’s e-mail or cell phone. TIO will support cardholders with a dedicated online portal. The card is issued by MetaBank.Details
E-Monee.com has announced the completion of General Packet Radio
Service (GPRS) ATM deployment in Dubai. Utilizing either Asymmetric
Digital Subscriber Lines (ADSL) or Integrated Services Digital Network
(ISDN), E-Monee can operate ATMs in areas where land
telecommunication options are not yet available. Allowing on-demand
temporary ATMs and mobile deployment, this development is
significant considering the scarcity of land lines in the rapidly expanding
region. E-Monee integrates technology and global telecommunications
NJ-based Heartland Payment Systems reported that total revenues for the first quarter were up 20% to $284 million. Net income for the quarter jumped 56% to $6.9 million. Processing volume for the first quarter increased 21% to $11.2 billion from the same period in 2006. The Company’s active merchant count rose to 144,000 at March 31st, a 21% increase over the past twelve months. Same store sales at its installed base rose 3.4% during the quarter. Heartland noted that 81% of new merchants installed during 1Q/07 and 71% of total transactions during 1Q/07 were on “HPS Exchange.” The Company reaffirmed its 2007 full year guidance with net revenue (total revenues less interchange, dues and assessments) expected to grow between 21% and 23%. For complete details on Heartland Payment Systems’ first quarter performance visit CardData ([www.carddata.com]).
Twenty-three additional casinos and gaming properties have signed agreements for cash access services from Global Cash Access. They include AmericaTab, Ltd, Grove City, OH; Casino Kura Hulanda, Tuolumne, CA; Cheerleaders, Las Vegas, NV; French Lick Resort Casino, French Lick, IN; Golden Pony,Okemah, OK; Island View Casino Resort, Gulfport, MS; Otoe-Missouria Tribal Plaza – New Kirk, OK; River Cree Resort & Casino, Alberta, Canada; Big Rock Casino and Bowl, Espanola, NM; Casino Aztar, Evansville, IN; Casino Express, Casa Blanca, NM; Cimarron Casino, Perkins, OK; Cliff Castle Casino, Camp Verde, AZ; Dawn Beach Casino, St. Maarten, Netherland Antilles; Gulfstream Park, Hallandale Beach, FLKiowa Casino, Devol, OK; Loews Lake Las Vegas, Henderson, NV; Norwegian Pearl, Miami, FL; Palm Beach Princess, Riviera Beach, FL; Presque Isle Downs, Erie, PA; Tropicana Las Vegas, Las Vegas, NV; Shooting Star Casino, Mahnomen, MN and Camrose Casino, Alberta, Canada join more than 1,000 casinos and other gaming properties around the world that rely on GCA’s comprehensive set of cash access products and services. Global Cash Access Holdings is a provider of cash access products and related services to over 1,000 casinos and other gaming properties.Details
VISA has signed a five-year agreement with ADP Employer Services to exclusively market “VISA Payroll” cards to its corporate partners. ADP serves approximately 550,000 clients. The VISA-branded “ADP Total Pay” card is already issued by a number of VISA member financial institutions. According to VISA estimates, approximately 80 million people in the U.S. lack a bank account or access to a payment card. VISA also estimates this audience receives approximately $1 trillion in annual income and relies heavily on cash for everyday transactions. ADP Employer Services pays 1-in-6 U.S. workers. According to the American Payroll Association, four million paychecks are lost or stolen annually.Details
MO-based Heartland Bank has become the newest issuer of “Discover Network Cards.” The new card will feature Discover’s new “Perks Everyday” points-based rewards program. In honor of Heartland Bank’s 120th anniversary, cardholders will also receive one entry into the “120-Year Celebration Promotion” with each purchase made with their Heartland Bank Discover Network Card during the remainder of 2007. One lucky winner will win 120,000 “Heartland Discover Network Rewards Points” to be credited to their account. Other Discover network issuers include: Alliance Data, First Bank & Trust, Morgan Beaumont, West Suburban Bancorp, Palm Desert National Bank, HSBC Bank Nevada, affiliates of GE Consumer Finance, and CompuCredit. Discover Card has more than 50 million cardholders and over 4 million merchant and cash access locations in the USA. (CF Library 6/14/06)Details
New research shows that gift card penetration among retail stores, mail/telephone orders, hotels and restaurants in the U.S. and Canada has surged from 2% in 2003 to 28% this year. The research, based on merchants with less than $10 million in annual sales, showed that use of closed loop or single purpose gift cards was most prevalent in restaurants. In the U.S. 57% of restaurants offer gift cards, compared to only 13% of retail stores in the same peer group. The study by First Annapolis found that in Canada 29% of the peer group retail stores offered gift cards. About 20% of hotels offered such cards in the U.S., compared to 13% in Canada.
CLOSED LOOP GIFT CARDS
(Merchants less than $10MM in Annual Sales)
Retail 13% 29%
MOTO 25% 9%
Hotels 20% 13%
Restaurants 57% 53%
Source: First Annapolis
Scotiabank and Cineplex Entertainment have teamed to launch a slew of new loyalty cards plus a debit card and new VISA cards. The initiative represents the first Canadian entertainment rewards program.
The new “Scotiabank SCENE VISA” and “SCENE Student VISA card” offers a sign-up bonus of 2000 points, enough for two free movies. Afterwards cardholders earn five points for every $1 spent at any Cineplex
Entertainment theater, and one point for all other purchases. The “SCENE ScotiaCard” is a specially branded debit card offered exclusively by Scotiabank. Members who sign-up also instantly receive 2000 points. They will earn more points by simply making everyday purchases, earning one point for every $5 spent on their debit card at any retailer and five points for every $1 spent at any Cineplex Entertainment theater.
Cineplex also launched the free “SCENE” membership program which offers members an immediate 10% discount on all concession purchases and enables members the chance to earn points for fun rewards such as free movies and concession combos simply by going to the movies. Cineplex Entertainment owns, leases or has a joint-venture interest in 128 theaters with 1,290 screens serving approximately 60 million guests annually.
SafePay Solutions Board of Directors has approved the acquisition of CA-based Digital 440 Corporation, developers of software programs that enables retailers to dynamically configure and distribute a wide array of consumer electronics to specific customer orders. SafePay Solutions enables anyone with an e-mail address to send and receive payments; and merchant and corporate clients can conduct business with SafePay’s vast array of financial management tools.Details
American Express and The Boston Celtics have announced a sponsorship program to provide special incentives for purchasing season tickets. American Express Cardmembers are eligible for special events throughout the season, including the chance to attend a Celtics practice and take part in a question and answer session with Celtics legends, as well as autograph sessions with Celtics players; exclusive access to a block of lower level tickets for all Celtics home games; the chance to purchase Celtics single game tickets before the general public and special ticket offers to select games. The Celtics will also create a special ticket package for American Express Cardmembers as well as a priority waiting list for Cardmembers who wish to purchase season tickets.Details
A class action lawsuit has been filed on behalf of shareholders of Checkfree, alleging that the Company failed to disclose material adverse facts. The Class Period is from April 4, 2006 through August 1, 2006 inclusive. They include: that the Company was experiencing a drastic downturn in its transaction growth; that the Company lacked adequate internal and financial controls; and that, as a result of the foregoing, the Company’s financial and operational projections were lacking in a reasonable basis when made.Prior to and throughout the Class Period, CheckFree relayed to investors and analysts that the Company would maintain its consistent financial performance and impressive growth. It was projected that the Company would realize 25 percent annual transaction growth for the foreseeable future. Citing Company statements, financial analysts projected that shares of the Company’s stock would reach over $60 per share in the near future. However, on August 1, 2006, the Company shocked investors and financial analysts when it disclosed that its quarterly results for the fourth quarter of fiscal year 2006 were vastly below their forecasted projections for the quarter. On this news, shares of CheckFree declined $5.93 per share, or 13.75 percent, to close on August 2, 2006 at $37.20 per share, on unusually heavy trading volume. Class members are represented by the law firm of PA-based Schiffrin Barroway Topaz & Kessler.Details
MEI Conlux has acquired the assets of Las Vegas-based VTI, a provider of currency validation products. The acquisition adds the “VTI Vector” and “Matrix” products to the existing MEI “Conlux” product portfolio provided to the retail, transportation, amusement, vending and gaming markets. These two products complement existing technologies and enable MEI Conlux to offer a broader range of solutions to both existing and new customers. ValTech International designs and manufactures professional currency validation products. MEI Conlux holds the world’s largest installed base of unattended payment systems, handling over 2 billion transactions per week in 90 countries.Details