OneSMART PayPass Earns Most Innovative Award

MasterCard’s “OneSMART PayPass” was recognized as the most innovative payments product launched in 2004. The award was bestowed by the European Payments Consulting Association and European Card Review Innovation Awards. “OneSMART PayPass” combines both contact and contactless interfaces on one chip to provide a robust and feature-rich product. “OneSMART PayPass” is centered around MasterCard “M/Chip 4,” a highly flexible EMV-based smart card application for credit and debit cards. This is the first year that the European Payments Consulting
Association and European Card Review have awarded the EPCA/ECR “Excellence in Payments Innovation Award.”

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Rahaxi Processing to Use ACI Platform

Rahaxi Processing has launched a new Internet Payment Gateway using software from ACI Worldwide. The new IPG will now enable Rahaxi to dilute its customer concentration in the Finnish market by processing for new merchants based in the rest of Europe, the USA and Asia. This software has the potential to add to Rahaxi’s existing Finnish domestic market growth, and will help to ensure that FreeStar is a fully fledged international payments processor. Rahaxi Processing is a wholly owned subsidiary of Freestar.

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ChevronTexaco to Incent Cardholders

This summer, ChevronTexaco’s Credit Card Enterprises is introducing a proprietary credit card promotion offering up to $30 in fuel credits. If the customer is approved for a new Chevron and Texaco proprietary card and uses the card to purchase a minimum of eight gallons twice during their billing cycle, they will earn a $5 credit per month for up to six months. The program will take place in July and August and will be supported by a series of marketing and communications programs, including direct mailers and point of purchase displays on site.

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Welcome Names a Latin America Regional Director

Welcome has named Daniel Lecuona as its Latin America Regional
Director. Daniel will be based in Sao Paulo. Daniel previously led
the banking division for Bull CP8 and Axalto in the region. With Vida Bancomer’s recent deployment of Welcome’s “XLS” in Mexico, Latin American banks are now discovering that they can use EMV to address both fraud and commoditization as opposed to fraud alone, for a virtually
insignificant increase in the total cost of EMV migration. Brazil currently has 125 million bank cards, a market that is growing at
over 24% per year. It is the largest market in Latin America, followed
by Mexico’s 28 million bank cards. In Brazil, approximately 75 million
cards are VISA (60%) and MasterCard (40%) credit and debit cards issued
by banks. There are more than 850,000 POS terminals, and by the end of
2005 this number should go above 1 million.

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Intersections Subscribers Grow 3.3%

VA-based Intersections, a specialist in identity theft protection and credit management services, this week reported that net income for the first quarter declined 18% to $1.8 million due to unexpected events such as a software impairment charge. During the quarter, total subscribers increased to approximately 2.98 million compared to 2.89 million at year-end. Subscription revenue increased to $23.6 million for the first quarter from $22.9 million for the fourth quarter, and from $19.1 million for 1Q/04, increases of 2.9% and 23.6%, respectively. For complete detail on Intersections’ first quarter results, visit CardData ([www.carddata.com][1]).

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

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ASK to Provide 700,000 Easy Cards for Taipei

The Taipei Smart Card Corporation has renewed the ASK contract for “Easy Card” contactless cards based on Mifare chips. Launched in 2000 when ASK made a first delivery of 500,000 cards, the project gradually spread over the city for mass transit in buses, metros, public off-road car parking lots and taxis. TSCC involves Taipei City government, Taipei Rapid Transit corporation, 13 private bus companies and several banks. “Easy Card” is based on ASK’s unique technology of silver ink printed antenna on a paper inlay and die attach process.

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Moneris Solutions CEO Honored

Moneris Solutions’ Jim Baumgartner, President and CEO, has been selected as the Electronic Transactions Association “Member of the Year.” ETA is the international trade association serving the needs of
organizations offering payment processing products and services. The
“Member of the Year” award is presented to a current member who embodies
the true spirit of ETA by demonstrating exemplary leadership skills
while contributing time, effort, and ideas that have resulted in
significant contributions to the success of the association.

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Bend, Oregon is the Top Credit Payoff Capital

Troy, New York-based MapInfo says Bend, Oregon; Boise, Idaho; and Reno, Nevada are the top three metros where tax refunds may be used to pay off outstanding credit. According to MapInfo’s research, all of the top ten metropolitan areas with the highest propensity for personal lines of credit are all located west of the Mississippi River. MapInfo provides location intelligence solutions, integrating software, data and services globally.

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Corillian Signs 25 Banks for its Fraud System

OR-based Corillian posted first quarter revenues of $11.2 million, compared to $11.7 million for the first quarter of 2004. Net income for the first quarter was $654,000, compared to net income of $1.8 million for 1Q/04. During the quarter, Corillian signed two additional financial institutions for the “Fraud Detection System,” including Citigroup. Currently more than 25 financial institutions are using the system to proactively detect and investigate phishing and online fraud attacks. For complete details on Corillian’s current and past performance, visit CardData ([www.carddata.com][1])

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

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