FL-based National Payment Card has launched the first ACH payment card for the gas industry at the Zarco 66 gas station in Olathe, Kansas. This innovation provides a way for consumers to pay less for gasoline through an immediate cash reward. In addition, with the National Payment Card system, station operators substantially lower their processing costs for participating consumers compared with the current charges of credit and debit card interchange and processing fees. National Payment Card (NPC), based in Boca Raton, FL, is an innovative marketer of ACH card-based payment systems.Details
Siam Commercial Bank has signed a five-year contract with Experian. It is Experian’s sixth financial customer in Thailand.
SCB will implement the Baker Hill “Relationship Lending Suite” to improve the speed, accuracy and consistency of its commercial lending processes. Credit products that will be supported by the project
include business term loans, leases, overdrafts, credit cards,
commercial bills and international products. The Baker Hill “Client Advisor,” “Exception Advisor,” “Portfolio Risk Advisor” and “Bank2Business” solutions underpin the solution being modified for SCB.
Experian acquired Baker Hill in August 2005.
Citigroup has completed the final phase of its acquisition of the Federated credit card portfolio. The final phase involved a second transaction in the purchase of The May Department Stores Company credit card receivables from Federated Department Stores. The purchase price of this final transaction included an 11.5% premium on Federated receivables under management of approximately $950 million at closing and follows the initial purchase of more than $800 million in managed receivables in May. The Federated and May credit card portfolios comprise a total of approximately 18 million active accounts and receivables under management of approximately $6.4 billion at closing. Citigroup paid a premium of approximately 11.5% to acquire each of the portfolios. Federated says the total deal produced after-tax proceeds of approximately $4.6 billion.Details
Callcredit has signed a preferred supplier deal with Lloyds TSB for consumer credit referencing services. Callcredit launched in 2000 as the UK’s first new technology driven credit reference agency. It has since developed a comprehensive range of credit risk, indebtedness, anti fraud, marketing and ID verification services. Callcredit will provide Lloyds TSB with a number of data solutions for use in its customer management and acquisition processes, including Callcredit’s recently launched “Over-Indebtedness Initiative,” which allows participating lenders access to a unique method of assessing the affordability of credit applications before they are granted, and monitoring the indebtedness of existing customers more effectively. Callcredit forms part of the Skipton Information Group, together with database management
company EuroDirect and market analysis firm GMAP Consulting.
Fiserv has acquired a major digital print provider and a full-service direct marketing firm. The acquisition of St. Louis-based The Jerome Group will boost growth in Fiserv’s Output Solutions Division. Jerome has 300 employees all of whom will join Fiserv. Ken Brown, a 26-year veteran of the organization, will remain as EVP and lead the new Fiserv division. The new business will help clients maximize the value of their corporate communications by focusing on card personalization and high volume transactional output. Jerome had annual revenues of about $44 million.Details
Cardholders will soon have easier access to their cash in the Czech
Republic as implementation of 100 new ATMs begins across major cities
and localities. This is phase one of a project that will see further ATM
expansion in Central and Eastern Europe, thanks to a new partnership
between ABN AMRO, First Data International and Pharro Praha CZ. Pharro
Praha CZ will install and manage the ATMs, while First Data
International will provide transaction processing.
Houston-based Retriever Payment Systems has hired former Card Commerce President and COO Todd Linden as SVP/Business Development. Linden will work with Mark Schatz, Executive Vice President of Business Development. In his new position Linden will be responsible for the development of strategic relationships throughout North America. Linden has more than 20 years of experience in the payment processing industry and is widely recognized as an industry leader. Retriever is one of the largest, independent merchant acquirers and transaction processors in the United States.Details
Fifth Third Processing Solutions has signed contracts for merchant processing services with Linens ‘n Things, Uno Restaurants and Rollins. Linens ‘n Things, Inc. is one of the leading, national large-format retailers of home textiles, housewares and decorative home accessories. Uno Restaurant Holdings Corporation franchises and operates over 200 restaurants in 32 states, the District of Columbia, Puerto Rico, South Korea and the United Arab Emirates. Rollins, Inc. is a premier North American consumer and commercial services company. Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio.Details
A new study has found that Turkey tops the list for
overseas fraud on UK cards, closely followed by France, Spain and the
United States. The analysis showed that these four countries accounted for over 56% of all foreign fraud. The study was conducted by Barclaycard by analyzing its 11 million+ card portfolio. The issuer found that Italy, China, Thailand, Ireland, India and the Netherlands.
were also among the top ten fraud hotspots. Barclaycard uses its “FALCON” fraud detection system to monitor spend on both Barclaycard and Barclays debit cards at foreign retailers and ATMs.
VA-based Privaris has hired the former CEO of Tridium as its new CEO. John Petze will focus on the creation of strategic partnerships and sales channels to deploy Privaris’ new products into the market as quickly as possible. Mr. Petze has also been elected a member of the Board of Directors. Petze served since 2003 as CEO at Tridium, a global software products and services company providing a technology platform to control smart devices. Privaris Inc. focuses its technology expertise on the intersection of high security biometric applications and an individual’s right to personal privacy.Details
The first real-world operational test of an automatic public transit ticket vending machine with integrated early warning explosives detection and supporting faregate capability has been completed. Cubic and GE’s Security business jointly-developed the system deploying it in a Baltimore MTA subway station throughout the month of June. The system is designed to detect explosives residue on passengers as they select their ticket before boarding a train. If such residue is detected, the system activates further capabilities to alert security or law enforcement. The “Baltimore Rail Security Study” was a cooperative effort of the Department of Homeland Security’s Science and Technology unit, the Maryland Transit Administration and the Maryland Department of Transportation, with technical support provided by Cubic and GE Security.Details
NJ-based KeyBank has installed a contactless POS system in its corporate cafeteria for employees to use their KeyBank “MasterCard PayPass” debit cards or other “MasterCard PayPass” cards. Employees simply tap their KeyBank MasterCard(R) PayPass(TM) debit cards or other MasterCard PayPass cards on the specially equipped merchant terminals and the payment is completed in seconds. MasterCard PayPass is a new “contactless” payment feature that provides a fast and convenient alternative to cash for everyday small purchases. Installed by Cash Register Sales, Service and Supply of Oakwood Village, OH, the KeyBank Contactless Solution consists of a Sharp UP-700 point of sale system and a MasterCard PayPass reader, which is connected to the NOVA merchant network.Details