Transact ATM Services has signed a deal to market Chex’s full line of comprehensive cash access products and services throughout the Canadian market. Chex’s product lines include full financial service booth operations, credit and debit card cash advances, Automated Teller Machine placements, multi-function ATMs, check cashing and electronic check conversion and verification, stored value cards and money remittance services.Details
Digital Insight and Metavante have inked a new agreement running through 2010 for Metavante to be a strategic provider of EPP products to Digital Insight. The agreement expands the companies’ partner marketing initiatives to promote increased adoption and usage of Metavante’s bill presentment and payment products among Digital Insight’s clients. Digital Insight integrates electronic bill payment and bill presentment services within its consumer Internet banking platform. Metavante Corporation delivers banking and payment technologies to financial services firms and businesses worldwide.Details
First Data and International Card Services have signed an agreement to launch an alliance for merchant and ATM acquiring in the Dutch market. ICS currently has relationships with over 90,000 merchants in the Netherlands for the acceptance of VISA cards. ICS has been operating a card issuing and acquiring business in the Netherlands since 1975. FDC serves 4.1 million merchant locations and 1,400 card issuers globally.Details
Diebold says it will close its ATM plant in Danville, VA by September 30th. The Danville plant, opened in 1997, assembles modules for ATM components and produces physical security and banking facility equipment. Diebold says most of these activities will be integrated into other selected U.S.-based Diebold manufacturing facilities while the remaining activities will be contracted to an external supplier in the USA. Diebold reported that ATM sales in the first quarter rose 12% to $173.3 million. ATM services revenues climbed 3.7% to $215.2 million. During the quarter, total “Opteva” ATM orders were approximately $109 million, an increase of more than 80% from 1Q/04. For complete details on Diebold’s first quarter performance, visit CardData ([www.carddata.com]). (CF Library 4/20/05)
David House, group president, Global Network and Establishment Services and Travelers Cheque and Prepaid Services Group, has decided to retire from American Express later this year. House joined the company in 1993 as senior vice president of Sales and Field Marketing for the U.S. Establishment Services Group (ES). During his tenure, he secured a record number of agreements with U.S. merchants to accept the American Express Card. From 1995 to 2000, House was president of ES in the United States. In this role, he significantly expanded the company’s presence outside of its traditional travel and entertainment niche, and was responsible for signing major new retailers such as Wal-Mart and Costco.Details
Chapter 7 Bankruptcy Fees to Increase
There is a range of fees tied to filing cases in a federal bankruptcy court, depending on the chapter of the Bankruptcy Code under which you file.
In October 2005, the fee for filing a bankruptcy petition under Chapter 7, by far the most common form filed by individuals, will increase from $155 to $220. In addition, there is a $15 Chapter 7 trustee fee and a $39 administrative fee – for a total fee of $274 in Chapter 7 cases.
Chapter 7 is designed to allow individuals to keep certain exempt property while their remaining property is sold to repay creditors.
In 2004, 1.13 million of the 1.59 million bankruptcy petitions reported in the United States were filed under Chapter 7.
More information can be found at [www.uscourts.gov/bankbasic.pdf].
Moneris Solutions has become the first payment provider in
Canada to process an Interac Online transaction. Interac Online is a new
service that allows Canadians to pay for goods and services purchased on the Internet directly from their bank account. Until now, credit cards were the primary payment option available to Canadians when shopping online. With the introduction of Interac Online, consumers will have the flexibility to pay for purchases made over the Internet through a direct debit to their bank account. This added payment option gives merchants access to a larger pool of potential customers who either do not possess a credit card or are looking for innovative payment alternatives. Moneris recently signed an agreement with The Source By Circuit City to
implement Interac Online into its comprehensive e-commerce Web site –
TheSourceCC.com. The Interac Online service will be generally available for the back-to-school season.
NCR’s Kinetics has introduced the “CheckinHere” kiosk, a credit card-enabled, multi-airline check-in system. The self-service solution uses a centralized service that unifies all of Kinetics’ airline partners onto one screen for a consistent look and feel in every location for every carrier. CheckinHere requires minimal IT resources and meets all Transportation Security Administration, International Air Transport Association and Common-User Self-Service requirements. Kinetics is a provider of enterprise and self-service technologies to the travel industry.Details
American Bank Note Holographics has named Mark Bonney as EVP/CFO. Bonney was CFO of Zygo Corporation and President and COO of Axsys Technologies. ABNH also named Ron McClenny, formerly with JVC Magnetics America, as VP/Engineering and Quality Assurance. Dr. John Hynes, formerly President of Card Based Information Technologies, has been appointed to VP/CTO. NY-based ABNH reported sales for the first quarter of $6.4 million and record net income of $600,000. The Company is in the process of staffing its new state-of-the art facility in Robbinsville, NJ. It expects to move its manufacturing operations from Elmsford and Huntingdon Valley in June and July. ABNH recently signed an agreement with VISA to supply its new “HoloMag” design on VISA-branded cards worldwide. For complete details on ABNH’s first quarter performance visit CardData ([www.carddata.com]) (CF Library 5/17/05)
Jodhpur in Rajasthan was the location for the filming of VISA International’s new TV commercial which features Richard Gere. The commercial will be aired across Asia Pacific. India will be the first market to go on-air in both English and Hindi on all major channels.
The commercial reflects the beauty, scenery and the imagery of India and
brings together a cast and crew that is a blend of the best of East and
West. The central theme of “Birds” is based on the spirit of generosity
and the giving spirit demonstrated through the ritual of letting birds
go free to bring good luck to a relative or friend embarking on a
journey, a ritual that runs across several different cultures in the
Asia Pacific region including India. Mumbai-based Ranjit Barot composed the earthy and rhythmic music for the commercial, which was produced and developed by VISA’s advertising agency BBDO Clemenger, Australia with support and collaboration from Stratum Films of Mumbai.
eFunds has inked an agreement to acquire WildCard Systems for an upfront payment of $228.8 million plus an earn-out of up to $58.8 million. In November, the two Companies signed a distribution agreement and have since signed two tier one financial institution deals under eFunds’ existing alliance with MasterCard. Privately-held WildCard Systems, founded in 1997, specializes in turnkey host-based prepaid cards and custom stored-value products. WildCard is certified by VISA, MasterCard and Discover as an endpoint on their networks and is authorized to be an issuing processor for cards bearing VISA, Electron, Interlink, PLUS, MasterCard, Maestro, Cirrus and Discover/NOVUS payment marks. eFunds says that net revenues for WildCard are anticipated to increase approximately 30% over the revenues of $56.5 million it recorded last year. The deal, which includes a $22.8 million holdback, is expected to close in July.Details