Chevron has added the Fleet One fuel card to its portfolio of payment methods accepted at Chevron- and Texaco-branded retail locations. In addition to providing Fleet One’s customers more options for purchasing fuel, it also provides Chevron and Texaco retailers and marketers the opportunity to acquire new commercial customers who may not have been able to transact at their sites in the past. Chevron Corp. is one of the world’s leading energy companies. With more than 55,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining and marketing and distributing fuels and other energy products. Fleet One provides financial service solutions to companies with fleets of vehicles, and the merchants that serve them.Details
Las Vegas-based Cubis Financial has rolled-out an “Express Card Program” for the delivery of stored-value cards. The Cubis Express Card Program is a proprietary platform designed to provide cost-effective and fast-to-market stored-value card campaigns. The program is tailored for private-label use by organizations and businesses alike. The Cubis Express Card Program is a complete turnkey stored-value card solution. Cubis Financial, Ltd. (www.CubisFinancial.com), a SellingSource.com company, is a technology-driven financial services marketing company that provides full-service credit, stored-value, and private-label card solutions.Details
Foxwoods Resort Casino has agreed to use Global Cash Access products and services for multiple years as part of a contract extension. Foxwoods will take advantage of multiple products and services including Arriva Credit Card, QuikCash Plus Web (QCP Web), Automated Cashier Machine (ACM) 3-in-1 ATM, QuikCash cash advance terminals, EDITH (Electronic Debit Interactive Terminal Housing) and Central Credit check warranty service offered by Central Credit, a wholly-owned subsidiary of GCA. Global Cash Access, Inc. is a leading provider of cash access products and related services to approximately 1,060 gaming properties and other clients in the United States, Continental Europe, the United Kingdom, Canada and the Caribbean.Details
NJ-based consumer receivable asset management and liquidation specialist, Asta Funding, reported that net income for the quarter ended September 30th rose 50.7% to a record $13.6 million, compared to one-year ago. Finance income for the quarter was $29.8 million, a 49.5% year-on-year increase. Over the past twelve months Asta has acquired approximately $5.2 billion in face value receivables, the highest level in the Company’s history, at a purchase price of $200.2 million. Fiscal 2006 included $159.4 million in net cash collections from collection of consumer receivables acquired for liquidation, up 53.0% from $104.2 million in the year ago period. For complete details on Asta’s latest performance visit CardData ([www.carddata.com]).
A three to six month pilot of “Near Field Communication”-enabled mobile phones with “PayPass” is getting underway in New York City. Citigroup, MasterCard, Cingular Wireless and Nokia have teamed for the project. Pre-selected “Citi MasterCard” cardholders with Cingular Wireless accounts are participating in the trial and will receive Nokia NFC-enabled mobile phones with MasterCard “PayPass” payment functionality. NXP Semiconductors developed the NFC technology and chips for the NFC-enabled mobile phones in the New York City trial to facilitate secure, contactless communication between two devices. Giesecke & Devrient developed the “Over the Air” personalization software that allows for the process of initializing the mobile phone with the information it needs to conduct secure transactions. ViVOtech provided NFC software and services to enable the trial working in concert with the partners. Trial participants can also take part in the New York City Subway contactless transit fare payment trial sponsored by Citigroup, MasterCard Worldwide, the Metropolitan Transportation Authority, and MTA New York City Transit.Details
MasterCard has been awarded the “2006 International Tandem Users’ Group NonStop Availability Award” for overall system availability and processing excellence. The ITUG NonStop Availability Award is presented annually to information technology companies that use HP NonStop servers to maintain the highest overall system availability and exercise sound quality assurance practices. Award entries from around the world are evaluated on network availability, business continuity management practices and service delivery to end-user customers. Finalists for the 2006 award included Bank-Verlag GmbH, Belgacom and VISA. MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide.Details
OR-based TRM has signed an agreement to sell substantially all of the assets of its Canadian ATM business to EZEE ATM for an estimated purchase price of CDN$14.75 million. Closing is expected to occur in January. While the sale will dispose of almost all of TRM’s Canada-based ATM operations, TRM has retained an ATM relationship relating to approximately 400 sites and also retains its existing Canada-based photocopy business, for which it continues to evaluate alternatives. Earlier this week, TRM signed an agreement to sell its U.S. photocopier business to TRM Copy Centers for $9.2 million. Proceeds from the sales will be used to pay down debt obligations.(CF Library 12/14/06)Details
Canada’s Interac Association reported that debit card fraud at gas stations across Canada has declined by more than 60% over the past year. The deep decline, representing about $15 million in avoided fraud losses, was largely the result of “Project Protect,” a joint education initiative spearheaded by Interac Association and law enforcement with support from Payment Card Partners and other industry partners. The program, which launched in November 2005, educates gas retail owners, managers and employees about payment card fraud.Details
NY-based DoubleClick this week released a survey which found that online advertising is an effective means to influence word of mouth. The DoubleClick Touchpoints IV survey results revealed that influencers consider online advertising a key factor of their shopping process, second only to websites, as a source of further learning about purchase decisions. Nineteen percent of influencers cited web advertising as a source of information when they were researching a purchase, compared to 8 percent among the remainder of the sample. Both segments cited websites as their top source of research when they are shopping, but influencers clearly rely more on the web than non-influencers, with 40 percent of influencers citing websites for this purpose versus 31 percent of non-influencers. DoubleClick provides technology and services that empower marketers, agencies and web publishers to work together successfully and profit from their digital marketing investments.Details
First Data has signed an agreement with Hong Kong-based Standard Chartered to jointly establish a new merchant acquiring company for Asian merchants. The new company, “Merchant Solutions Pte Ltd.” will be 56% owned by First Data and 44% owned by Standard Chartered. The firm will be based in Singapore. Merchant Solutions will provide sales support with First Data supplying front-end and back-end switching services. Merchant Solutions also aims to deliver enhanced payments capabilities to Standard Chartered merchant clients from seven initial markets in Asia including Bangladesh, Brunei, Hong Kong, India, Macau, Singapore and Sri Lanka by converting to First Data’s global merchant processing platform, OmniPay, in approximately 9-12 months. China and Malaysia are also priority markets. Standard Chartered and First Data intend to roll-out the alliance to other Asian and Middle East markets. The new company is expected to begin its operations by the end of 2007.Details
A new study projects that spending on contactless payments hardware and software will reach $870 million by 2011, at a
compound annual growth rate of 27%. ABI Research says that transportation ticketing represents the majority of contactless payment adoption around the world, but that position will be overtaken by adoption of open systems payments within the next few years. ABI says contactless technology in Japan and South Korea is making the greatest headway. In North America, open system payments are driving the contactless adoption. In Europe contactless ticketing systems are also spurring interest in contactless payments. ABI notes that while mobile handsets will develop to enable contactless payments, ongoing debate over how payment applications will be deployed and managed on wireless handsets has delayed the roll-out of mobile handset contactless payments in the US and Europe.
MasterCard’s Board has declared a quarterly cash dividend to holders of shares of its Class A common stock and Class B common stock at nine cents per share. The cash dividend of nine cents per share will be paid on February 9, 2007 to holders of record of its Class A common stock and Class B common stock as of January 12, 2007. MasterCard Incorporated is a leading global payments solutions company that provides a broad variety of innovative services in support of our global members’ credit, deposit access, electronic cash, business-to-business and related payment programs.Details