A new survey has found that even though teens account for only three percent of online sales right now, they can be very influential on overall household buying. JupiterResearch found that one in four teens say their parents always take into account their opinion about household purchases. Of teens who make purchases online, 83% still make purchases with their parents present, via their parents’ credit or debit card. However, alternative methods of payment, such as PayPal and gift certificates, have grown in popularity and allow teens to make purchases by themselves. The JupiterResearch report concludes that teenagers are Internet-savvy and retailers must understand their characteristics and behaviors to catch them as them as they begin making their first independent online purchases.Details
AZ-based Desert Schools Federal Credit Union has named Jason Meyers as its first Public Relations Manager. A graduate of San Diego State University, Meyers’ career includes posts as director of marketing communications at the Heard Museum as well as senior copy editor of marketing and creative services at The Arizona Republic. Prior to that, he spent more than a decade in the radio industry in Phoenix, Tucson and San Diego as a brand strategist, advertising production director and on-air personality. Desert Schools is Arizona’s largest and fastest-growing credit union with more than $2.7 billion in assets, over 325,000 members and nearly 60 locations.Details
Rahaxi Processing has inked an a distribution and referral
agreement with BasWare. BasWare provides purchase-to-pay and
financial management solutions for large enterprises. Its software products are used by enterprises to automate back-office financial operations to enhance efficiency, gain process control and transparency, and meet compliance requirements. BasWare’s products are also widely used in shared service centers. BasWare has eight subsidiaries in Europe and more than 450,000 end- users in more than 20 countries. In Finland alone, BasWare has approximately 4,000 clients that generate a combined 9 million transactions annually. Under the terms of the agreement, BasWare’s “Cashier Desk-solution” will be migrated to meet the requirements of the EMV and PCI-standards in Finland using “Rahaxi-OTI” card payments processing software and Hypercom “Optimum” Point-of Sale products. Moreover, Rahaxi Processing will enable all BasWare POS clients to be EMV compliant before the summer of 2007.
Alliance & Leicester is planning to launch mobile
phone banking in 2007. The new service, which complements its
award-winning Internet banking, will be run via the “MONILINK” network
allowing customers secure access to their current accounts on their
mobile phone. A&L intends to extend the range of services available using “MONILINK.” These could include the ability to access other accounts, the ability to transfer money or even to pay a bill directly from a handset. According to www.banksafeonline.com, about 15 million U.K. adults now bank online.
MasterCard Worldwide has won the rights to continue sponsorship of the “World Cup” soccer tournament for at least the next two “World Cups” despite a deal VISA signed with FIFA calling for it to receive the rights on Jan. 1st. About six months ago VISA was awarded the sponsorship by the Federation Internationale de Football Association for the next eight years. MasterCard, a long-time FIFA sponsor quickly filed a lawsuit claiming FIFA broke its contract giving MasterCard the right of first refusal on an extension of its 16-year sponsorship of the “World Cup.” The ruling was handed down this morning by U.S. District Judge Loretta Preska in New York City. Preska ordered that FIFA proceed with the “2007-2014 MasterCard Agreement” that the parties agreed to. She also noted that FIFA’s negotiating team misled MasterCard about an extension period while FIFA was simultaneously and aggressively negotiating with VISA.Details
Enabling customers to personally customize their payment cards online
looks like a new hot button for consumers, especially in Europe. Belgian
Bank KBC reported that 120,000 of its customers have uploaded a favorite
picture onto their payment cards in the four months after it began
offering the service. KBC says 20% of this figure is made up of new
cards and 80% replacements of existing cards. The new KBC
personalization program is powered by London-based Serverside Graphics
which serves 33 major issuers worldwide including Advanta and First
National Bank of Omaha in the USA. KBC says it abandoned the traditional
direct mail channel altogether opting for online marketing for the new
program. KBC has not charged a fee for the new service but has recently
begun testing a fee of about $13.
Hungarian drivers now have access to the new “Shell MasterCard” from Citibank. To encourage customer applications, Shell and Citibank are doubling the card’s regular 3% rebate on Shell fuel purchases in Hungary and 1% rebate on all other purchases as part of an introductory promotion. The introductory program applies for all cards issued before January 31st, it refers to transactions made within the first 60 days of the card’s issuing date. After the 60-day period, the rebate reverts back to the 3% on Shell fuel purchases in Hungary and 1% on all other retail purchases wherever the card is used in the country and abroad.
Supplementary cards are also included in the rebate program, however,
rebates may only be redeemed by the main cardholders.
South Indian Bank and Citibank have launched the “South Indian Bank
Citibank VISA” credit card. The new co-branded card will be offered to
the loyal customer base of South Indian Bank in Kerala. The card offers,
besides regular features, zero percent fuel surcharge
at Indian Oil petrol stations, 24 hour Internet banking facility, zero
lost card liability and Visa Money transfer. The customer would also
have an option of paying card dues through ECS at zero cost.
EVERTEC, the ATH Network’s processing firm for Latin America and the Caribbean, signed an agreement with NYCE Payments Network, that will
enable purchases throughout the U.S. for holders of ATH debit cards
issued by ATH Network-affiliated banks and cooperatives in Puerto Rico
and the U.S. Virgin Islands. The new service will allow customers to use their ATH debit card and PIN to pay for purchases at any U.S. merchant that accepts NYCE. With this service, the ATH Network is expected to generate more than 1 million annual transactions in the U.S. The NYCE Network provides consumers with secure, real-time access to their money, connecting the accounts of more than 74 million cards with 275,000 ATMs, and 1.3 million point-of-sale locations nationwide.
Russian Standard Bank has inked a deal to market American Expresss cards through Troika Dialog Asset Management. Russian
Standard and Troika say that customers will be able to apply for
the cards in any Troika branch. Russian Standard Bank has issued
AmEx cards in Russia since December 2005.
The Western Union Company has completed the acquisition of Servicio Electronico De Pago S.A.. Under the brand name Pago Facil, SEPSA is the largest collector and processor of public services cash payments in Argentina. Through a network of more than 3,300 payment locations, Pago Facil allows consumers to make cash payments for public services and taxes as well as pre-payment for services such as Internet access and mobile phone top-up. Western Union purchased Pago Facil from its parent company, Sideco Americana, which in turn was founded by Groupo Macri.Details
TSYS Card Tech has agreed to supply Universal Bank Public of Cyprus with upgrades to its “PRIME” card management system and online authorization and switching system. The additional functionalities will enable the bank to support EMV, automated collections, installment schemes and SEPA-compliance. Universal Bank offers a full range of
personal and business banking services and operates 18 branches across the island. With its adoption of PRIME’s “Collector” module the bank will benefit from automated collections with reporting for audit requirements. Universal Bank also intends to offer acquiring instalment plans, using “PRIME” installments, to provide online approval at merchant POS terminals.