Henricks Returns to First Data Resources

Susan Henricks has returned to First Data as president of First Data Resources. Henricks was a key member of the First Data leadership team in 1998 and 1999, serving as president of First Data Enterprises within First Data Resources. For the last six years Henricks has been with RR Donnelley, an $8 billion dollar global print leader and the largest printer of telephone directories in the world. First Data Corp. is a leading provider of electronic commerce and payment solutions for businesses and consumers worldwide.

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70% Abandon Online Applications

New research estimates that 14.2 million consumers start an online application for financial services, including credit cards, each month, but, only 4.2 million complete the application online. The study projects that nearly $7 billion in revenue is available from abandoned applications. Boston-based Compete says its report found that of the 81 million consumers who abandon the application process, many still believe an online application is more convenient than applying either by phone or in person. Compete also found that the 60% of consumers who go on to complete the online application begin the process with the specific intent of opening a new account. Additionally, 36% of consumers who complete the online applications, started with the intent to learn more about the product, but decided along the way that the time or offer was right.

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Gemplus’ Financial Performance Weakens

Gemplus International announced that it no longer expects to meet its financial performance outlook for 2006 due market conditions that will remain challenging and uncertainties in the global economic environment. The Company cited market conditions that will remain challenging and uncertainties in the global economic environment. Gemplus International S.A. is a world leading player in the secure card industry in both revenue and total shipments.

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Card for Aspiring Models is Launched

FL-based Catwalk Distribution and Trycera Financial have unveiled a new prepaid card for aspiring models and actors between the ages of 13 and 24. The new “Model Prepaid MasterCard” also offers one point for every dollar spent. The card is issued by MetaBank. The card can be reloaded by the parent with the child notified on their cell phone. The program will also notify both parent and teen via e-mail when the funds are depleted, while allowing the parent to view where the funds were spent. Over 10,000 girls entered the “CosmoGIRL! So You Want to Be a Model Contest” produced by ESB Productions.

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NCR Names a Chief Technology Officer

NCR has promoted Alan Chow to the newly created position of chief technology officer and promoted Colleen O’Keefe to VP/GM of its Payment Solutions business. Chow has over 30 years of experience, beginning his technology career in 1975 as a programmer at the University of California, Los Angeles (UCLA) Medical Center. He joined Teradata in 1981, which was purchased by NCR in 1992. NCR Corporation (NYSE: NCR) is a leading global technology company helping businesses build stronger relationships with their customers.

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IRN Certifies Hypercom’s Optimum T4100

NY-based IRN Payment Systems has selected and “Class A” certified Hypercom’s “Optimum T4100” multi-application card payment terminal. The T4100 gives IRN the flexibility to deliver one or more payment processing solutions on the same high-performance terminal platform. Global payment technology leader Hypercom Corp. delivers a full suite of high-security, end-to-end electronic payment products and services. IRN has provided electronic payment processing solutions through its PartnerAmerica Program to businesses nationwide for more than 18 years.

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Raphaels Bank Selects ReD for its Cash2Go Card

Raphaels Bank, a private bank with a major role in the emerging UK prepaid market, has selected Retail Decisions to provide fraud prevention and integrated payment gateway services for the “Cash2Go” pre-paid travel debit card. “Cash2Go” is a new card which provides immediate access to travel funds when needed, allowing cardholders to use their money at around 9 million shops and restaurants and 1 million cash machines worldwide. The card is pin protected. Raphaels Bank is part of the Lenlyn Group, which includes International Currency Exchange and Southern Finance.

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GCA’s Arriva Credit Card Hits the Jackpot

Global Cash Access’ “Arriva” casino credit card is off to a flying start, signing-up more than 1,000 gaming patrons in its first few weeks. The card has achieved $2.5 million in transactions and has shown a direct mail response rate of over 1.36% by high-quality credit-worthy customers. The new card offers a grace period on cash advances; gives rewards for cash advances; allows cash advances on the entire credit line and charges lower fees and interest rates on cash advances than many credit cards. (CF Library 5/8/06)

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Discover Signs 2 Merchant Acquiring Deals

Discover Financial Services has signed merchant acquiring deals with Global Payments and RBS Lynk. GPN has agreed to purchase the portion of Discover’s merchant portfolio for which it currently provides VISA/MasterCard processing and will begin to sell Discover Network card acceptance during the first quarter of next year. RBS Lynk will offer an integrated payment card processing package in November that includes Discover Network card acceptance, becoming one of the first to offer this new service to merchants. Under the terms of the RBS agreement, signed in August, RBS Lynk will offer small- to mid-sized merchants consolidated statements, settlement, and customer service. RBS Lynk sales channels will have full responsibility for pricing, processing, settlement, risk management and customer service for the merchant accounts. Discover currently has more than four million merchants in its network.

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73% of European Consumers Want Reward Cards

A new survey shows that three quarters of European consumers want a credit card which offers rewards and almost half admit they would spend the reward points on themselves. The MasterCard findings also indicate a growing preference for luxury rewards, with respondents
wanting to treat themselves to discounted city breaks (33%), free cinema, theater or concert tickets (26%), free spa days (25%), or a special house or garden makeover (24%). However, there is still strong demand for financial incentives at traditional retailers which
consumers use every day. Nearly two-thirds of those surveyed want a credit card that offers a discount on the price of the purchase they are making at the time, and 57% want cash-back in the form of a percentage of their spend at the end of the year.

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