Discover Bank Names a New President

Discover Financial Services has hired Christina Favilla, formerly First Vice President, Banking and Cash Management, Product Development at T.D. Waterhouse, as President of Discover Bank. Favilla also served as the Vice President, Business Analyst for Retail Banking and as the Vice President, New Business Development Manager of Home Equity Services for Chase Manhattan Bank. Favilla holds a Masters of Business Administration in Information Systems from Fordham University and a B.A. in International Studies from Marymount College.

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Paymetric Introduces XiBuy 2.0

Paymetric has introduced a new version of its “XiBuy” solution. “XiBuy 2.0” integrates purchasing cards with SAP at the onset of the order creation, subjecting purchasing card transactions to the same requisition-to-order process as traditional orders in SAP. Transactions initiated in SAP with “XiBuy” can be reconciled automatically or manually with their purchase orders, while transactions initiated outside of SAP can be reallocated, approved and posted. “XiBuy” uses the resulting card transaction to create an invoice receipt, thus completing the three-way match between the purchase order, the goods receipt, and the invoice. “XiBuy 2.0” also supports multiple card programs.

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Consumer Spending Looks Strong in Q1

The U.S. Commerce Department reports that personal spending rose 10 basis points in February from the prior month. The Commerce Department also reported that personal income rose 30 basis points in February. The data suggest that consumer spending will grow at a 5% annual rate in the first quarter. Last year consumer spending was largely driven by consumers tapping home equity.

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Aviation Card Adds a New Regional Manager

U.S. Bank’s Multi Service Aviation, which issues the “Multi Service Aviation Card” has named Renee Owen to its team of regional managers. Owen comes to Multi Service Aviation with over a decade of experience in the aviation industry. During her career in the industry, Owen held positions in both the commercial and general aviation arenas, including working with the Race Team Aviators Association (RTAA) and NASCAR(R). Before joining the aviation industry, she studied at Appalachian State University. The Multi Service Aviation Card is accepted worldwide by more than 7,000 aviation service providers in over 190 countries and has been voted the Best Fuel Card by Professional Pilot magazine’s PRASE Survey every year since the survey began in 1992.

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TRM’s ATM Sales Increase 46% in 4Q/05

Portland, OR-based TRM reported that gross sales rose 29% in the fourth quarter to $54.5 million. ATM sales for the quarter rose 46% year-on-year to $44.5 million. However, ATM operating income decreased due to higher vault cash costs, increased amortization/depreciation versus the prior year and increased SG&A costs such as labor, as well as unusual items. The Company also notes that cash losses in the ATM business improved significantly from the third quarter due to aggressive security measures designed to reduce theft. At the end of the quarter, TRM had 19,262 ATMs producing total withdrawals of 18.3 million during 4Q/05. For complete details on TRM’s fourth quarter performance, visit CardData ([www.carddata.com][1]).

TRM GROSS SALES
4Q/04: $42.3 million
1Q/05: $58.8 million
2Q/05: $61.4 million
3Q/05: $59.2 million
4Q/05: $54.5 million
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

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ViVOtech to Give Away NFC-Payment Phones

Next week ViVOtech will be giving away NFC-enabled “Nokia 3220” mobile phones to select attendees at the “CTIA Wireless 2006” conference. Each phone, pre-loaded with a $25.00 “MasterCard Prepaid” account, can be used at a variety of contactless-enabled retail stores in Las Vegas. Each phone is enabled with the “ViVOwallet 2.0” payment and “Service Discovery” application software, which is part of the “ViVOnfc Software Suite” announced in September. The “ViVOnfc” software suite also includes “ViVOplatform,” which enables issuers and retailers to send cards over-the-air, as well as other real time services like e-coupons, tickets, loyalty programs and prepaid and gift card products.

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AmEx Adds More Partners to IN:NYC Card

American Express has expanded the loyalty program for its “IN:NYC Card” with a new spa category. In addition, the “IN:NYC Card” has added B.R. Guest Restaurants, owner of a number of trendy New York restaurants, including Blue Fin, Fiamma Osteria and their newest celebrity haunt, Barça 18, as a new dining rewards partner. Three of New Yorkâ™s leading spas have joined the program. “INSIDE Rewards” points can be redeemed for $25, $50 and $100 certificates at all five spa locations. B.R. Guest will be offering $50, $100 and $150 certificates for redemption at all of their locations. American Express introduced the affinity card for New Yorkers in September 2004. (CF Library 9/30/04)

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Global Payments’ Profits Rise 39% in Q1

Atlanta-based Global Payments Inc. reported that revenues for the quarter ending February 28th increased 15% to $225.2 million. Net income for the quarter jumped 39% to $30.1 million. GPN says the growth was driven by its North American direct merchant channels and the DolEx-branded consumer money transfer channel. The Company also says it is making solid progress toward completing its Asia-Pacific joint venture with HSBC. Under the terms of the agreement, GPN will pay HSBC $67.2 million in cash to acquire a 56% ownership interest in the joint venture. HSBC will control the remaining 44% and will contribute its existing Asia-Pacific merchant acquiring channel in ten countries and territories to the joint venture. The company also raised its annual revenue guidance. For GPN’s 2006 fiscal year, guidance is raised 14% to 15% to a range of $896 million to $903 million, compared to $784 million in fiscal 2005. For complete details on Global Payments latest results, visit CardData ([www.carddata.com][1]). (CF Library 9/8/05)

GPN HISTORICAL
PERIOD REVENUES NET INCOME
1Q/05: $195.5mm $21.6mm
2Q/05: $207.7mm $25.9mm
3Q/05: $224.5mm $31.3mm
4Q/05: $219.7mm $31.3mm
1Q/06: $225.2mm $30.1mm
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

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TNS Teams with Precidia for IP Migration

Precidia Technologies and Transaction Network Services have agreed to incorporate Precidia’s protocol conversion and network management technology with the TNS “FusionPoint Express” managed merchant Internet gateway offering. Precidia customized its access devices and management system to support TNS’ monitoring and authentication requirements, providing a range of powerful new deployment, diagnostic, and transaction routing capabilities. Precidia’s IP access products, which feature the NetVu network configuration management tool suite, deliver a simple, cost effective and actively managed IP migration path for POS equipment.

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FraudProtect Web ReVu is Introduced

San Diego-based Mitek Systems has released “FraudProtect Web ReVu,” a new web-based application that empowers bank tellers to quickly and easily verify authentic checks on any account, prior to finalizing transactions with a patron. Web ReVu is designed to be used in conjunction with the FraudProtect System — a complete check fraud solution for bank back office processing — or as a stand-alone solution. Mitek Systems provides Image Analytics used by financial institutions to detect fraud and improve customer service.

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DATA Act Passes a U.S. House Committee

Another data security bill is making its way through Congress. This week, the House Energy and Commerce Committee unanimously approved the “Data Accountability and Trust Act, passed 41-0. The “DATA Act” requires that consumers be notified if their privacy may have been violated because of a security breach. Data brokers will be required to implement effective security safeguards. If there is a reasonable risk of identity theft to the individual to whom the personal information relates, fraud or other unlawful conduct, these data brokers must notify consumers. Additionally, data brokers will be prohibited from falsely representing themselves to obtain personal data. The legislation also directs the FTC to create rules setting rigorous national standards for data brokers to protect personal information. It also require entities to appoint and identify a person in the organization that is responsible for information security.

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Bridgeport to Launch a Parcxmart Card

Connecticut’s largest city expects to replace its entire downtown on-street meter inventory with a smart card payment system. Bridgeport will deploy a system from Parcxmart Technologies. When the “Bridgeport Parcxmart Card” program becomes fully operational, people coming to and living in Bridgeport will be able to load up to $100 onto the card and use it to pay for parking at participating parking lots and garages, and for retail purchases at participating local merchants. Bridgeport is the second city in Connecticut, following New Haven, to adopt the interoperable Parcxmart payment solution.

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