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]).
Oki Electric Industry has introduced a new ATM with improved lighting, higher banknote capacity and integration with mobile phones and contactless cards. The new “ATM-BankIT,” available after July 1st, can also connect to CRM servers and bank branch terminals. The new ATM enhances its security functions by mounting light shielding filters to protect PIN numbers from prying eyes and by responding to various biometric identification such as smart cards, finger veins, palm veins, iris, in which financial institutions can choose which method suits their service. The new ATM also enables a longer period for unmanned operation as the banknote capacity is increased to 14,500 notes, the largest in the industry in Japan.Details
Discover is dropping its universal default clause and implementing several cardholder changes with the April billing cycle. Any late payment will terminate all promotional APRs (instead of two late payments in 12 months) and trigger the rate to the standard rate or a rate as high as prime +10.99. Cardholders with two late payments or over-limits within a twelve month period, will receive an APR as high as prime +15.99%, according to CardWatch ([www.cardwatch.com]). Three late payments or over-limits within a twelve month period will trigger an APR as high as prime +19.99%. The late fee for balances of $1,000 or more will now increase from $35 to $39. Discover also reserves the right to limit the amount of credit available for balance transfers similar to the current cash advance credit limits. Discover is also modifying its minimum payments to comply with new FFIEC rules. The minimum payment for accounts with APRs above 22.99%, but less than 26.00%, will pay the greater of $10 or 2.2% of the new balance. If the APR is above 26.00% then the minimum payment is $10 or 2.5% of the new balance. Discover is also dropping JAMS as an arbitration option.
Salt Lake City-based Gift Card Solutions has paired with Great Harvest Bread Company to offer gift cards for use in any of Great Harvest’s 200 stores in 40 states. Gift Card Solutions provides products and services to manage the creation, processing and fulfillment of gift certificates and cards.Details
Arkansas-based Acxiom has renewed a two-year agreement to provide customized information management services for Providian Financial Corporation. Acxiom Corporation provides Customer Data Integration (CDI) technology, data, database services, IT outsourcing, consulting and analytics and privacy leadership.Details
ABN AMRO has become the first card issuer to sign a processing agreement with TSYS in continental Europe. The seven-year agreement covers the processing of ABN AMRO consumer and commercial credit cards, according to this week’s CardFlash International (www.cardflashinternational.com). All of ABN AMRO’s Dutch accounts will be converted to “TS2,” the multi-currency and EMV-compliant processing system from TSYS that supports more than 20 million accounts in Europe. Conversions are tentatively planned for the first and second quarters of 2005. ABN AMRO’s portfolio will be processed at the new TSYS European Data Center in Knaresborough, England. The TSYS Operational Services Center is located in Barneveld and opened earlier this month.Details