GiveAnything.com Gift Certificate will no longer have an expiration date for certificates purchased after Jan 1, 2005. GiveAnything certificates are used as a credit card with over 300 online retailers. GiveAnything.com is a wholly owned entity of Universal Certificate Group LLC, a marketer of client-branded reward and incentive applications.Details
NOVA Information Systems announced it has extended its marketing alliance agreement with Alabama-based Regions Financial Corporation. NOVA support operations, processing and customer services represents more than $2.3 billion in processing volume. Regions Financial Corporation is a full-service provider of retail and commercial banking, securities brokerage, mortgage, and insurance products and services through 1,400 locations in 15 southwestern states with assets of $84.1 billion. NOVA Information Systems is a wholly owned subsidiary of U.S. Bancorp, serving more than 750,000 merchant locations in the US, Canada and Europe.Details
The federal bank and thrift regulatory agencies yesterday jointly issued new guidelines on the handling of security breaches. The guidance interprets the agencies’ customer information security standards and states that financial institutions should implement a response program to address security breaches involving customer information. The response program should include procedures to notify customers about incidents of unauthorized access to customer information that could result in substantial harm or inconvenience to the customer. Under the new rules alerts can be sent by mail, telephone, or e-mail. The guidance defines personal information as name, address, telephone number, SSN, driver’s license number, PIN, passwords, or payment card information. Under the guidance, a financial institution should notify its primary federal regulator of a security breach involving sensitive customer information, whether or not the institution notifies its customers.Details
Minneapolis-based Cash Systems reported fourth quarter revenue of $12.8 million, a 46% jump over one year ago. Net income more than doubled to $705,000. Revenue for the year $48.4 million, an increase of 48%. Net income was $2.2 million, a 32% improvement over the year ago period. During the quarter, the Company named Michael Rumbolz to become CEO on January 1st. Rumbolz was also elected Chairman. David Clifford was promoted to EVP/CFO, effective January 1st, to replace Chris Larson who will become COO. Fort complete details on Cash Systems’ latest performance, visit CardData ([www.carddata.com]).
Heuristic Technologies, Inc.,a subsidiary of Cash Technologies, has signed a service and joint marketing agreement with Papa Cash to target the Hispanic market in California with the CashTech.Card, a MasterCard(R) stored-value debit card. The CashTech.Card offers financial services such as credit card purchases, ATM access, payroll direct deposits to an under-served consumer segment. Cash Technologies, Inc. develops and markets innovative data processing systems.Details
Norkom Technologies has reached an agreement with Travelex to implement its Anti-Money Laundering & Compliance software to service all Travelex operations. Norkom Technologies is a provider of risk management and compliance software used to detect and combat financial crime. Travelex is the world’s largest foreign exchange specialist, with over 700 retail branches serving 29 million customers worldwide.Details
First Data is now processing card payments at Burger King restaurants in Canada. First Data is handling MasterCard card processing and settlement for 123 corporate-owned Burger King
restaurants throughout the country. FDC’s payment processing solution in Canada supports the MasterCard “Quick Payment Service” program, which eliminates the need for a signature on the receipt for purchases under $25 with a MasterCard card. Burger King Canada is the largest merchant in Canada to incorporate MasterCard “QPS.”
Dallas-based Intervoice, Inc., announced a leading financial services firm has selected the Omvia Voice Framework for banking and credit card service applications. Both new systems will be hosted by Intervoice. In addition, Intervoice has signed a 14-month contract extension with the same firm for existing hosted services. The combined value of the new orders and contract extension is currently estimated to be $6.5 million. Intervoice provides voice automation solutions worldwide.Details
Axalto has received “ISO 14001” certification in all of its production sites in Europe, Asia and the United States. The certified facilities include Barcelona, Fareham, Orleans, Pont-Audemer and Tours in the Europe, Middle-East and Africa region, Hong-Kong, Shanghai and
Changsha in Asia region and Owings Mills in the USA. “ISO 14001” developed by the International Organization for Standardization, is a series of voluntary environment management standards designed to enhance the protection of the environment, such as improvement of waste management, reduction of water consumption and energy control.
American Express’ new contactless payments program received a big boost this week by signing the nation’s largest photographic chain and one of the fastest growing convenience store chains. The addition of Ritz Camera and Sheetz will add 1,500 locations for “ExpressPay.” In December, the CVS retail pharmacy chain inked a deal to make a full roll-out of “ExpressPay” to its entire fleet of more than 5,300 stores by mid-2005. Sheetz has already rolled out “ExpressPay” acceptance in all of its 305 c-stores nationwide. In addition, “ExpressPay” will be enabled at Sheetz gas pumps by June 1st. Ritz Camera Centers will install “ExpressPay” in each of its over 1,100 retail camera and photo stores and 114 Boater’s World Marine Centers locations nationwide, beginning with stores in New York and Phoenix. AmEx has been testing “ExpressPay” in Phoenix since 2002 and in New York since 2003. (CF Library 12/16/04)Details
Net profits for Leumi Card exploded by 440% last year to NIS 30.4 million. Card volume was up 11% and active accounts increased by 9% during 2004. Leumi’s increase in card profits lead all issuers in the country. Bank Hapoalim’s Isracard subsidiary posted the largest net profit of NIS 105 million, an 8% increase over 2003. Total profits for all Israeli credit card companies hit NIS 230 million last year, a 31% rise over the prior yearDetails
HSBC – North America has promoted Joseph Hoff as CEO of the company’s retail services business. Hoff will oversee the day-to-day operational and sales efforts in the company’s private label credit card business. Hoff has been with the Company (f/k/a Household International) for nearly 30 years. Hoff was named CFO of the retail services business in 1996. Prior to that, he served in various financial positions including VP/finance for the treasury department, group director-administration and president-corporate finance division. Hoff joined the company in 1976 as manager-financial accounting. For more information on Hoff, visit CardExecs ([www.cardexecs.com]).