Intersections 1st Quarter Revenue Rises 27%

VA-based Intersections reported that revenue for the first quarter rose 27% to $58.2 million. However, net income declined 86% to $484,000 due to higher marketing and subscription additions. Total subscribers increased to approximately 4.69 million as of March 31st. Subscription revenue, net of marketing and commissions associated with subscription revenue, increased to $31.9 million for the first quarter from $29.5 million for the first quarter of 2006. Intersections safeguards more than 5 million customers, who are primarily received through marketing partnerships and consumer-direct marketing of the company’s “Identity Guard” brand. The Company also provides consumer-oriented insurance and membership products through marketing partnerships. For complete details on Intersections’ latest results visit CardData ([www.carddata.com][1]).

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

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Research Shows Vacation Preferences

According to the latest research on Canadian vacation travel habits,
conducted by TD Canada Trust, 70% would choose their spouse as
vacation trip partner, 14% would take friends, while only 6% would
take their children. Of the 1000 adults polled, 5% would prefer other
family members. Among Atlantic Canadians, however, 11% said they
would take their children as travel companions. Also, 95% of the
participants said that safety was a determining factor in vacation
destinations. Furthermore, 46% travel more then once a
year while 48% do so no more than once a year. In either instance,
their most recent trip lasted a week. These findings reflect that
Canadians value vacations as a means of having time with our partner
or friends and to enjoy respite from every-day responsibilities in a safe
and secure environment.

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FNCCC Adds Citizens Bank’s Consumer Cards

Omaha-based First National Credit Card Center has become the new consumer credit card issuer for Citizens Bank, a wholly owned subsidiary of Citizens Republic Bancorp. Citizens Republic Bancorp is the 43rd largest bank holding company in the U.S. The partnership with FNCCC represents one of the largest agent bank relationships in its portfolio. FNCCC is part of First National of Nebraska and has about $4.3 billion in credit card outstandings as of year-end 2006, according to CardData ([www.carddata.com][1]).

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

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Chase Appoints New Card Executive

Chase has appointed a new card executive, Robert Paterson, for the
expansion of the company’s credit card business, market management
strategy and customer service. Paterson has 15 years of industry experience
with development and execution of business programs internationally.
He has worked for institutions including CIBC, as the Small Business segment
head responsible for the strategic direction of the segment,
BizSmart, as president and CEO, and, most recently, McKinsey & Co. as a
senior expert who lead the financial services group Asia region. JPMorgan
Chase employs more than 1,600 Canadians and has provided Corporate
and Investment Banking products in Canada since 1965.

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Ingenico Signs a Reseller Deal with TASQ

Ingenico has signed a reseller agreement with First Data’s TASQ Technology to sell and provide warranty service on its entire U.S. and Canadian product range. The agreement encompasses for the first time, the selling of Ingenico’s integrated terminal line, primarily targeted at Value-Added Resellers (VARs) and tier one merchants that purchase directly. Other products covered under the agreement include the i5100, i5310 and i7780. The Ingenico 7780 is a secure, short-range portable transaction terminal that allows credit, PIN debit, stored value and EBT payment to be brought to the customer. The i5100 and 5310 are IP-enabled countertop transaction terminals capable of operating in either dial or IP communication modes. TASQ Technology is a provider of Point of Sale equipment and services. Ingenico is a supplier of electronic acceptance technology.

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e-Card Transactions Rise 10% Over Year

Since March of 2006, New Zealanders conduct 9.7% more transactions
using electronic cards thanks to the wider acceptance of technology
and fluctuations in consumer price. March of 2007 saw 81 million
electronic card transactions totaling $4.8 billion, which is an increase
from not only last year, but a .7% increase in spending from February,
2007. However, measurements of the number and value of
debit, credit and charge card transactions with New Zealand-based
merchants have decreased since March of 2006.

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ACCEL/Exchange Transaction Volume Up 11%

Fiserv’s “ACCEL/Exchange Network” has grown its in-network transaction volume by 89% over the last two years. The network also signed 272 new members last year, notably Canadian financial institutions. Cross-border POS transaction volume with Canada has increased more than 500% since 2004. “ACCEL/Exchange” transactions are currently enabled at more than 180,000 ATMs in North America and most major merchant locations throughout the USA. There are 2,100 of “THE EXCHANGE ATMs” throughout Canada. The 246 Canadian financial institutions that participate in “ACCEL/Exchange” are part of FICANEX, the exclusive licensor in Canada of all intellectual property associated with the operation of the “ACCEL/Exchange Network.” In addition to managing “ACCEL/Exchange,” Fiserv EFT provides ATM and debit services to more than 2,700 financial institutions in the USA. Fiserv EFT operates more than 17,000 ATMs and currently processes approximately 450 million ATM and debit transactions per month.

ACCEL/Exchange Transaction Volume
2003: 223 million
2004: 281 million
2005: 410 million
2006: 455 million
Source: CardData (www.carddata.com)

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Citi Names a New Egg Manager

Following Citi’s acquisition of Egg Banking for 546 million GBP,
the bank has appointed a new CEO, Ian Kerr, to run the UK division.
He has experience with such institutions as HBOS, where he was a
Group Services Director, Birmingham Midshires Building Society as
Chief Executive, and Lloyds Bowmaker Finance Group in management.
Kerr was most recently Retail Banking Chief Executive at Halifax Bank
of Scotland, which at that time had $400 billion in assets, $4 billion in
profit and 7,500 employees. Citigroup has over 200 million customer
accounts and does business in more than 100 countries.

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PaidByCash is Offered on 200+ Web Sites

Retail Expansion Network, an e-commerce solution provider, announced that more than 200 Internet retailers have added “PaidByCash” to their sites. PaidByCash enables consumers to easily use cash to make purchases online by obtaining a virtual prepaid MasterCard card account. Shoppers may load a PaidByCash card account with an exact amount for a one-time online purchase or load up to $350 and make multiple online purchases. The new service was launched in the United States only two months ago and is gaining significant traction quickly among online merchants and shoppers. The PaidByCash Virtual Prepaid MasterCard account is issued by First Bank of Delaware.

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Air China Offers Special Summer Offers

From June 1 until August 31 Air China is offering its “Air China
Companion” frequent flyer program members discount rates at
Shangri-La Hotels and triple mileage credit toward their accounts.
Among other promotional offers, from May 14 to August 31, the
company will offer double mileage credit to the members for each
second-night’s stay in any one of 3,650 hotels worldwide of the
InterContinental Hotels Group. Also, passengers will earn an
additional 800-kilometer award for every qualified second-evening
stay in any InterContinental, Crowne Plaza, Hotel Indigo, Holiday
Inn, Holiday Inn Express, Staybridge Suites, and Candlewood
Suites hotel. Greater member benefits will be offered when
Air China enters Star Alliance in the next year. Currently, the airline
serves 78 domestic and 39 international cities.

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FreedomPay Hires the Former MAC President

PA-based FreedomPay has named Phil Valvardi, former President of the “MAC Network” its new Chief Development Officer. Valvardi started his career at Procter & Gamble and served as Vice President of the electronic payments division at CoreStates Financial Group. He holds an MBA from Drexel University and a BS from St. Joseph’s University in Philadelphia. FreedomPay is a cashless payment solution provider to the foodservice industry utilizing RFID technology.

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Dialect Signs License Agreement with IP Commerce

Card associations, acquiring banks and merchants who work with global payment services provider Dialect, will now have access to a candy store of innovative payment solutions. Denver-based IP Commerce announced a licensing agreement with Dialect for IP Commerce’s “IP Payments Framework.” The “IPPF” is an open platform that connects payment service providers, financial institutions, distribution channels and commerce application developers. Dialect will use the “IPPF” to deliver embedded, integrated financial capabilities to their customer base which includes American Express, MasterCard, Royal Bank of Scotland, and others. Dialect offers predominantly “card not present” payment processing services for major financial institutions and also supports the electronic payments needs of their customers, particularly globalizing merchants, with consulting, integration, processing and support services.

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