Oberthur Card Systems has become the first provider of a “FIPS 201” certified smart card. With this certification, Government Agencies and other organizations now have a commercial source of dual interface smart cards to meet requirements as part of Homeland Security Presidential Directive 12. Oberthur Card Systems of America offers an identification solution that couples smart card manufacturing with card personalization, carrier attachment and activation services as well as the exclusive rights to the card software applets.Details
Bank of America launched the ninth year of “Museums on Us” wherein customers showing a Bank of America ATM, check or credit card or MBNA credit card can visit any of the 56 participating cultural institutions in May for free. This year, Bank of America is introducing several key enhancements to the program such as the inclusion of MBNA cardholders and bringing a guest for free.Details
Diebold reported first quarter revenue of $623.7 million, up 16.5% from the first quarter of 2005. Net income for the first quarter was $12.7 million, compared to net income of $27.9 million in the first quarter of 2005. Financial self-service revenue was up 3.9% in the quarter with EMEA showing an increase of 50% and Asia Pacific up 9.6%, partially offset by a decline of 6.8% in the Americas. The Company recently initiated its multi-year profit improvement plan that encompasses a $100 million reduction in the company’s cost structure by 2008. A major component of this initiative is to establish a new manufacturing operation for financial self-service terminals and related components in the Eastern European region. For complete details on Diebold’s first quarter, visit CardData ([www.carddata.com]).
Kentucky-based iPay Technologies has launched expedited bill payment services for community financial institutions. Expedited payment is an added feature that enables next day payment for a consumer’s most urgent bills such as mortgage payments, insurance premiums or credit cards that carry significant late penalties and the service is priced significantly lower than late payment fees or next-day air package delivery services, which are often the only option for ensuring that an urgent payment will arrive on time. iPay Technologies provides full-service Internet bill payment software.Details
Wal-Mart Stores and First Data’s Money Network have introduced a no-fee paycard check cashing option at more than 3,000 stores in the USA. Using FDC’s self-issued check system, “TRANSCHECK,” employees get immediate and free access to their payroll funds via Money Network’s “Paycard” clients. Once authorized using an IVR system, the “TRANSCHECK” product can be electronically verified and cashed “in-lane” free of charge at participating Wal-Mart locations. Check cashing services are not available in Wal-Mart stores located in Rhode Island, New Jersey, New York, Massachusetts and Connecticut as well as 20 other store locations in the United States.Details
For the first time, debit cards have overtaken cash as the most popular way to pay for retail purchases in the UK. Based on figures for 2005, debit cards captured 37% of the GBP 240 billion in total retail spending. Cash usage for retail purchases dropped 4% from 2004 to GBP 81 billion, according to APACS, the UK payments association. Credit card retail spending remained flat last year at GBP 61 billion. Overall, plastic card retail spending rose 5% over the past year capturing 71% of the total pie. The use of checks dropped 14% last year. Retail spending includes all transactions on the high street and online.Details
Smart card specialist Gemplus International reports a 19% jump in net sales for the first quarter driven by robust revenue growth in the Financial Services and ID & Security units. First quarter revenues climbed to 230.3 million euros, compared to 262.0 million euros in the prior quarter and 193.1 million euros for 1Q/05. Payment microprocessor card shipments soared 75%, to 22.3 million units as EMV roll-outs gained further momentum in Latin America, Southern Europe and Japan. Payment microprocessor card revenue rose 55% year-on-year. During the quarter,
Gemplus launched “Plastic Fantastic,” which is designed to help banks and financial institutions set themselves apart from the competition. The cards range from unusual shapes, perfumed, tactile and even glow in the dark, and will support customers in their branding and customer segmentation. The “GemSense Instant Issuance,” also won an award from the ECPA/ ECR (European Payments Consulting Association / European Card Review) “Payment Innovation Awards” in the category for the most innovative and advanced payment software/hardware product. This is a personalization and card issuance solution which allows banks and retailers to deploy or replace cards on the spot. For complete details on Gemplus’ first quarter performance visit CardData (www.carddata.com).
Hypercom unveiled a new company logo on Friday while ringing the “Closing Bell” at the New York Stock Exchange. CEO and President William C. Keiper rang the Bell to mark the introduction of the global palm-sized 32-bit mobile wireless credit/debit and general purpose terminal. Keiper was joined by other company executives to officially ring in the new era for the electronic transaction industry.Details
Massachusetts-based Peppercoin has hired Charles Caserta, former president and co-founder of IFS International, as VP of sales and market development. Caserta has more than 20 years of sales experience. Prior to joining Peppercoin, Caserta served as executive vice president of business development and chairman of the board at Thornebrook Associates, a strategic consulting firm specializing in financial services and technology. He also served as president and CEO of Livewire, a leader in kiosk solutions technology, where he increased sales 380 percent within the first eight months. Caserta earned a BA in English Literature from Villanova University.Details
Wisconsin-based Kohl’s has closed the sale of its proprietary credit card business to JPMorgan Chase for $1.6 billion. As previously reported, Kohl’s plans to use the net proceeds to repurchase its common stock, to fund store expansion and for general corporate purposes. Additionally, the companies have entered into a multi-year agreement that provides for Kohl’s to receive ongoing payments related to the profitability of the credit card portfolio. Kohl’s will maintain its current credit operations and will continue to handle all customer service functions and be responsible for all advertising and marketing related to its credit card customers.Details
Austin, TX-based NetSpend has signed former University of Texas football great and sought-after NFL quarterback prospect Vince Young to endorse its prepaid debit cards. As a first step in their new partnership, Young joined NetSpend CEO Rick Savard and founders Roy and Bertrand Sosa to present a giant $10,000 NetSpend All-Access debit card to the University of Texas College of Communication to establish an Advertising and Sports Marketing Scholarship Fund at the school. NetSpend Corporation has grown to a national leader in the prepaid debit category processing close to $3 billion in funds loaded on its cards.Details