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.Details
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.
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]).
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.Details
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.
Dallas-based ACE Cash Express posted first calendar quarter net income of $9.9 million, compared to 1Q/04 net income of $8.2 million. The total ACE store network, including franchised stores, had a record 10.3 million customer visits and processed approximately $3.1 billion in transactions. ACE Cash Express, Inc. is a leading retailer of financial services, including check cashing, short-term consumer loans and bill payment services with a network of 1,331 stores nationally.Details
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.Details
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])
Euronet Worldwide posted revenues of $117.2 million for the first quarter, compared to $81.1 million for 1Q/04. Net income for the first quarter was $4.8 million, compared to a net income of $3.3 million for the first quarter 2004. The EFT Processing Segment posted first quarter revenues of $23.9 million, compared to $14.9 million reported for the first quarter of last year. The EFT Processing Segment processed 77.3 million transactions in the first quarter compared to 34.9 million transactions for the same period last year. The segment completed the quarter with 6,201 ATMs owned or operated, compared to 3,870 ATMs at the end of the first quarter 2004. The Prepaid Processing Segment reported first quarter revenues of $89.4 million, compared to $62.9 million reported for the first quarter 2004. Total transactions processed by the Prepaid Processing Segment in the first quarter were 67.2 million, compared to 48.5 million prepaid transactions processed in 1Q/04. The Prepaid Processing Segment processes electronic point-of-sale prepaid transactions at more than 205,000 point-of-sale terminals across more than 94,000 retailers in Europe, Asia Pacific and the USA. For complete details on Euronet’s first quarter performance, visit CardData (www.carddata.com).Details
UT-based iMergent’s 1Q/05 revenue increased 57% compared one-year ago. During the quarter, the company hosted 184 workshops, 32 of which were outside the U.S., compared to the third quarter of 2004 when the company conducted 146 workshops, 8 of which were international. The Company raised its full year fiscal 2005 revenue growth outlook to around 40% over fiscal 2004. Previous outlook had been for 30% to 35% revenue growth in fiscal 2005. For complete details on iMergent’s current and past performance, visit CardData ([www.carddata.com])
Visa reports that the “Verified by Visa” share of e-commerce transactions has grown over 40%, and transaction volume during the first quarter has increased more than 230% over last year The adoption of Verified by Visa has played a major role in driving payment card fraud to its lowest rate ever – less than five cents per $100. More than 360 million Visa cards are eligible for Verified by Visa, and 56,000 merchants worldwide have adopted the cardholder authentication service. Visa has $3 trillion in annual transaction volume.Details