Interactive TV Campaign Launched by Chase

Chase Card Services has launched the first fully interactive television campaign for a financial institution that features long-form video. Chase is using the technology to promote its “Chase Freedom” card product to 12 million DISH Network satellite TV viewers who have interactive capabilities. Viewers will be able to interact with the brand via a click of their remote. The promotion is a collaboration between Chase, advertising agency T3, and The Media Group. Regularly scheduled TV commercials are embedded with a graphic overlay, or trigger, motivating viewers to leave the program they are watching to view a variety of long-form, minute-long videos that creatively demonstrate how to use “Chase Freedom.” Features of the commercials include describing how “Chase” Freedom can play into everyday life and a mechanism that takes viewers to an informational TV microsite to learn and request more information about the credit card. The new card product enables cardholders to change the types of rewards they earn as their needs change.

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Cooney Retires from Versatile Card Technology

Nick Cooney has retired after 17 years as president of Versatile Card Technology. Cooney, 66, aggressively and successfully introduced VCT to Europe, Asia, South America, and the Middle East, strengthening the company’s financial stability and positioning it as the only American-owned high-volume credit card producer with a substantial presence overseas. Cooney plans to travel with his wife, Lisa, and enjoy his children and grandchildren. Versatile Card Technology produces cards for every application and offers complete fulfillment services and turnkey solutions.

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DataWave Systems Approves InComm Acquisition

Canada’s DataWave Systems has approved its proposed acquisition by InComm Holdings for $36 million. InComm expects the merger to close on January 2nd. Atlanta-based InComm recently rolled-out a complete kiosk solution, including installation and setup, cash management, product expertise, support and more. InComm also signed Green Dot to a distribution agreement and Signature Days partnered with InComm to distribute its gift cards nationwide. (CF Library 12/6/06; 12/12/06)

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TNB Card Services Racks Up More Portfolios

Dallas-based TNB has acquired an additional five credit card portfolios from credit unions in MO, MI and TX and now issues cards for credit unions in 19 states. Card portfolios were acquired from Heart ‘O Texas of Waco, Texas; Mountain Star Federal Credit Union of El Paso, Texas; Kensington Valley Community Credit Union of Highland, Michigan; Southpointe Credit Union of St. Louis, Missouri; and Jeffco Credit Union of Festus, Missouri. TNB Card Services, owned and directed by credit unions since 1976, provides electronic payments processing, as well as an agent issuing solution for credit unions nationwide.

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Futuretrust MasterCard and H&R Block Team

The “Futuretrust MasterCard” has partnered with H&R Block to offer a bonus contribution to the cardholder’s “529” college savings plan. Futuretrust(R) is a MasterCard(R)-linked college savings program that enables families and friends to get a “jump” on saving for college. Futuretrust has no membership fee. Rebates are automatically contributed to a tax-advantaged 529 college savings plan of the member’s choice. Mothers Work, Inc. is the world’s largest designer and retailer of maternity apparel, using its custom TrendTrack(TM) merchandise analysis and planning system as well as its quick response replenishment process to “give the customer what she wants, when she wants it.” H&R Block Inc. is a leading provider of tax, financial, mortgage, accounting and business consulting services and products.

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Account Acquisition Costs Hover at $90

A new report has found that the Internet and agent programs produce the lowest cost among all credit card account acquisition channels. While the average across-the-board acquisition cost per active account is now $95, Internet and agent programs deliver accounts at about $20 per active account. CA-based R.K. Hammer also found that agent programs and co-branded programs produce accounts produce the highest activity rates of 70% to 75% compared to an industry average of 63%. Renewal rates among all acquisition channels averaged 83%, but, agent and co-branded programs averaged 75% to 90%. The average break-even period was 31 months across-the-board. Portfolio acquisition was the lowest at 19 months. However, the Internet and agent channels produced a break-even period of 26 months and 23 months, respectively.

ACQUISITION COSTS
Portfolio Acquisition $100
Direct Mail $ 95
Pre-Approved $ 90
Telemarketing $ 75
Pre-App. + Tele $ 70
Internet $ 20
Agent $ 20
Co-branded $ 20
Source: R.K. Hammer

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OTI Tops 130,000 Contactless Readers

On Track Innovations has reached more than 130,000 reader solutions and more than 20 million payment card solutions, including inlays, key fobs and operating system royalties, for the ongoing contactless payments market. OTI’s readers are certified by MasterCard’s “PayPass,” “VISA Contactless”, “Discover Contactless” program; “ExpressPay” from American Express and by the major processors in the U.S. Last month, OTI reported revenues for the third quarter of $8.0 million, a 34% decline over the same period of last year. During the quarter, OTI acquired most of SuperCom’s Assets; demonstrated a contactless reader solution with VeriFone at Cartes; provided USA Technologies next generation contactless payment readers with initial orders for 10,000 readers; signed ‘Yellow’ Convenience Stores to distribute and add loading infrastructure for “EasyPark.” Also, Chevron selected OTI’s “EasyFuel” as its petroleum payment and automated fuel management solution and Garanti Bank of Turkey picked OTI for contactless card solutions. For complete details on OTI’s third quarter performance, visit CardData (www.carddata.com).

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VendTek’s Now Prepay Network Opens in the USA

Canada’s VendTek Systems has established its “Now Prepay” network in the U.S. with the signing of an agreement with ISO The Brennes-Jones Group. The Brennes-Jones Group (BJG) is a Dallas-based employee-owned ISO with Moneris Solutions/Harris Bank in Chicago as its bank sponsor. BJG offers bankcard, T&E, debit, EBT, Pcard and electronic gift and loyalty card processing and check guarantee and authorization. It also offers terminals, wireless communications, IPOS, PC and Internet-based solutions. VendTek develops and licenses automated transaction system software and supporting technologies that improve the efficiency of product delivery, reduce costs to clients and offer superior safety measures.

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First Natl Omaha to Acquire for Discover

Discover inks yet another acquirer. First National Merchant Solutions has agreed to offer it customer Discover card acquiring services. First National Merchant Solutions plans to offer the consolidated processing program to customers in 2007. First National Merchant Solutions is owned by First National Bank of Omaha. Earlier this month Atlanta-based RBS Lynk completed integration and roll-out of direct Discover Network card processing. U.S. Bancorp’s NOVA Information Systems also signed a merchant acquiring agreement to add Discover Network card acceptance. Additionally, Global Payments and TSYS Acquiring Solutions agreed to expand the card’s acceptance. (CF Library 10/10/06; 12/5/06)

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Chevron/Texaco to Accept Fleet One Fuel Cards

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.

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Cubis Rolls-Out an Express STV Card Program

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.

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GCA Renews the Foxwoods Resort Casino Contract

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.

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