American Express has opened a “Members Lounge” for cardholders at the prestigious Mall at Short Hills in New Jersey. At the Members Lounge, Cardmembers will be transported from shopping exhaustion to a refreshing space of tranquility. It will feature snacks and refreshments, coat check, a private restroom, couches and seating areas, free gift-wrap services, iPod and cell phone charging stations, and an email station, all complimentary to American Express Cardmembers. American Express Company is a leading global payments, network and travel company founded in 1850. For more information, visit http://www.americanexpress.com.Details
Wells Fargo has renewed and expanded its agreement for consumer credit and small business card processing services with First Data to include 7 million cardholders. The addition of new portfolios represents a significant expansion in the relationship between First Data and Wells Fargo. First Data Corp. (NYSE: FDC) is a leading provider of electronic commerce and payment solutions for businesses worldwide. Wells Fargo & Company is a diversified financial services company with $483 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,100 stores and the Internet (wellsfargo.com), across North American and internationally.Details
VeriFone has unveiled the “QX100” an external contactless card acceptance device. Based on successful, field-proven payment solutions technology, the QX100 is a fully programmable contactless card reader utilizing a high performance, 32-bit ARM processor. The QX100 is capable of high speed encryption using modern encryption algorithms and utilizes downloadable software to meet evolving contactless card payment security specifications. VeriFone Holdings, Inc. (“VeriFone”) (NYSE: PAY; TASE: PAY) is the global leader in secure electronic payment solutions.Details
Hypercom has introduced the first PIN entry device that includes a choice of contactless, EMV smart card or magnetic stripe payments, a touchscreen display, and a vendor-agnostic architecture enabling integration with Hypercom, VeriFone or Ingenico card payment terminals as well as leading electronic cash register systems. The new “P4100 PIN Pad” also offers a WiFi option. Other features include a contactless ISO 14443-compliant RF reader that supports “ExpressPay” from American Express, MasterCard “PayPass” and “VISA Contactless” payment programs. Plus, multi-application support for multiple smart card-enabled payment and value-added applications and high security designed to meet PCI PED standards for secure PIN entry.Details
Colorado-based CPI Card Group and Australia’s Keycorp have teamed to manufacture MasterCard’s “PayPass” contactless cards for Banamex Financial Group. The issued cards will be introduced into McDonald’s fast food outlets throughout Monterrey, Mexico. This joint effort will mark the first PayPass program launched in Latin America.
The contactless card, manufactured by CPI, will use utilize the dual
interface chip with the MULTOS operating system developed by Keycorp and
will be the first “PayPass EMV” card issued in Latin America. Personalization of the cards will occur in the in-house bureau of
Banamex. POS terminals will be installed at all McDonald’s throughout the city of Monterrey.
San Diego-based Encore Capital Group reported that net income declined 33% to $5.2 million, compared to the same period of the prior year. Gross collections were $75.8 million, a decline of 10% from 3Q/05. Revenues from the debt purchasing business were $57.2 million, a decline of 2% and revenues from the bankruptcy servicing business were $3.4 million compared to $1.0 million in the same period of the prior year. During the third quarter, the Company invested $32 million to purchase $1.1 billion in face value of debt. For complete details on Encore Capital Group’s latest performance visit CardData ([www.carddata.com]).
Metavante announced the availability of Metavante “Prepaid Bill Payment,” a new service that makes bank-sponsored Internet bill pay available to consumers who use prepaid debit cards as an alternative to traditional checking accounts and banking relationships. Corporations are increasingly turning to re-loadable prepaid payroll cards as an alternative to checks, and a growing number of consumers without traditional banking relationships are using re-loadable prepaid cards as their primary payment device. Now, this niche market gains the same functionality of Internet bill pay formerly reserved for those with checking accounts, and no longer needs to rely on non-bank payment mechanisms, such as walk-up bill pay kiosks. Metavante Corporation delivers banking and payments technologies to financial services firms and businesses worldwide.Details
Jack in the Box is set to become one of the first major fast-food chains to accept contactless payment at all company restaurants. Contactless payment at Jack in the Box requires guests to have an American Express, Discover Network, MasterCard PayPass(TM) or Visa Contactless card or device embedded with a chip that communicates with the reader via radio frequency. With installation of the readers slated for completion by Dec. 31, Jack in the Box will become one of the first major fast-food chains to accept contactless payment at all company restaurants. Jack in the Box Inc. (NYSE:JBX), based in San Diego, is a restaurant company that operates and franchises Jack in the Box restaurants, one of the nation’s largest hamburger chains, with more than 2,000 restaurants in 17 states.Details
Smart card specialist, Gemalto, is expanding its operations in Singapore over the next five years, to more than double its overall production capacity. The expansion program, to be rolled out in phases over the next five years, will more than double its overall production capacity. Located at Ayer Rajah Crescent, Gemalto’s Singapore facilities include smart card manufacturing, R & D and Sales and Marketing for the region. Gemalto has the largest R & D team in the industry, with over 1,500 R & D engineers globally, and a dedicated team in Singapore since 1997. Gemalto is a leader in digital security with pro forma 2005 annual revenues of EUR1,7 billion ($2.2 billion), operations in 120 countries and 11,000 employees including 1,500 R&D engineers.Details
Atlanta-based Radiant Systems has signed a deal to offer VeriFone’s “ON THE SPOT” mobile electronic payment systems with Radiant’s “Aloha Point-of-Sale” systems to restaurant operators in North America VeriFone’s ON THE SPOT solutions feature the Vx 670, the industry’s smallest all-in-one handheld secure payment device designed specifically for customer-facing operation in the restaurant and hospitality environment. VeriFone will work with Radiant sales and its channel partners to market these new restaurant solutions. Radiant Systems, Inc. (www.radiantsystems.com) is a leader in providing innovative technology to the hospitality and retail industries. VeriFone Holdings, Inc. (“VeriFone”) (NYSE: PAY; TASE: PAY) is the global leader in secure electronic payment solutions.Details
A new survey reveals that VISA scored a 7.7 in how they treat their online customers compared to an overall industry average of 5.7. The Customer Respect Group says its overall score was in line with the overall cross-industry average of all sites evaluated in 2006 to date. However, the score was marginally higher than that achieved six months ago. Financial services firms demonstrated a strong improvement in online communications, but a slight drop in site usability, especially for users with visual impairments and other disabilities.Details
JWARE Technologies has run a series of successful acceptance, functional and performance tests on the “Stratus ftServer Fault Tolerant Linux Server.” These tests were carried out to demonstrate the portability of the “JWARE Payment Suite” and the results demonstrate complete interoperability. The entire “JWARE Payment Suite” including POS and ATM drivers was installed on the “Stratus ftServer” in less than an hour without a single error. A traffic simulator generated a transaction flow of fifty transactions per second which the “JWARE Payment Suite” was able to process in a timely fashion without any functional issues. Higher transaction volumes can easily be managed by choosing better optimized Stratus servers from the “ftServer Linux Series” and by optimizing the database configuration.Details