San Francisco-based Pay By Touch has signed agreements to acquire ATM Direct, a provider of a patent-pending all-software solution that brings PIN debit to the Internet. The Company says the acquisition will round out the Pay By Touch offering, which already includes payment processing services from iPAY and biometric payment authentication services from Pay By Touch. The ATM Direct solution will be able to authenticate more than one billion ATM cardholders and enable them to securely pay with electronic cash on the Internet. Pay By Touch is a free consumer payment service that allows shoppers to pay for purchases using a finger scan linked to their financial accounts and loyalty.Details
Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation are negotiating with Fiserv to manage the operations of the banks’ proposed Vipro Pty Ltd. check processing joint venture. If successful, Fiserv would offer jobs to all of the banks’ voucher processing employees and would manage all of the processing operations from within Australia. Fiserv is the largest third-party check processing provider in the United States. In addition, Fiserv is a partner in Intria Items, an item processing joint venture with the Canadian Imperial Bank of Commerce that is the largest provider of currency processing and the second largest provider of check processing in Canada. Fiserv also manages significant item processing operations for large banks including JPMorgan Chase Bank and Northern Trust Co.Details
According to a recent “Mosaik MasterCard Holiday Survey” of
Canadian credit card holders, issued by BMO Bank of Montreal, fewer than
one per cent of respondents agreed that, if given the choice, they would
most like to spend their holidays with Brad Pitt or Jennifer Aniston.
Nearly 90% said they would most like to spend time with their family
over the holiday season. The survey, conducted by by Synovate, showed
that 56% of those who are planning a trip this holiday season
are doing so to visit their families; 11 per cent are making a trip to
see friends and 23% of holiday travelers are planning to get away on a
Infineon has named Loh Kin Wah to its Management Board effective December 1st. Loh has been President and Managing Director of Infineon Technologies Asia Pacific since the founding of Infineon in April 1999.
Loh will continue to be responsible for the Asia Pacific region, working out of Infineon’s Asia Pacific headquarters in Singapore. Infineon Technologies AG is based in Munich, Germany. It offers semiconductor and
system solutions for the automotive and industrial sectors, for
applications in the wired communications markets, secure mobile
solutions as well as memory products.
Montreal-based DM2 Technology has delivered 50 wireless POS equipment and software units to handle bankcard and credit card payments to Taxi Ste-Foy of Quebec City. The firm will also deliver the first 500 units to Taxi Diamond on November 29th. Taxi Ste-Foy is expected to accept delivery of the remaining 150 units in its agreement with DM2 by the end of this year. Taxi Diamond will take delivery of the remaining 200 units in early 2005. On November 18th, the Company announced that Rogers Wireless had made a proposal to become a reseller of Bach-Hauser’s DM2 Technology wireless point-of-sale terminals in their retail outlets. DM2 Technology is a wholly owned subsidiary of
Axalto has joined the “Visa Smart Breakthrough” card program.
Through the “VSB” program, Axalto will promote the “Palmera VSB Classic” and “Palmera VSB Protect Java” cards to VISA members globally and the “e-Galleon VSB Classic” static/native card to VISA members in Latin America, both competitively positioned. The agreement with Axalto is part of a major ongoing initiative to provide chip products and services that meet the needs of VISA members worldwide. In all, some 100 million issued EMV cards are VISA-branded, over 25 million smart cards have been issued through the “Visa Smart Breakthrough” card program.
Payment card transactions via the Internet will celebrate its tenth anniversary this month. VISA says its on track to top $150 billion in e-commerce sales for this year, a five-fold increase since 2001. VISA says its global Internet volume is up 56% over 2003. Online VISA sales originate in over 90 countries, purchased with VISA cards issued in over 150 countries. VISA noes that a secure foundation coupled with increased demand for specialized products not offered in local markets continues to drive cross-border transaction volume growth. Cross-border transactions now represent 16% of all VISA e-commerce transactions, up from 15.2% a year ago. Average e-commerce transaction value at $107 versus $70 in the physical card acceptance environment.Details
JCB is launching a three-month pilot today for its mobile infrared credit payment system using NTT DoCoMo phones at 30 merchant locations near its Tokyo headquarters. The “JCBeam Trial” will involve about 100 participants, primarily employees of JCB, who will download a credit card payment application and their own credit card information to their “MOVA 505i” or “FOMA 900” phones. JCB participated in KDDI’s Kei-Credit trial and in NTT DoCoMo’s “i-mode FeliCa Service” preview, both in 2003, and is currently running a trial of the “QUICPay” contactless payment system using NTT DoCoMo’s mobile wallet service. JCB cards are issued in 18 countries and territories, with 51.6 million cardholders.Details
Tesco is issuing a pack containing a newly redesigned “Clubcard,” which incorporates a magnetic stripe and barcode, but it will also carry two unique and durable keyfobs. ID Data spent 18 months researching and developing the keyfob to ensure it would be the best product of its kind in the marketplace. Keyfobs are manufactured from the advanced material Teslin and utilize a sub-surface bar code which gives the fob an extended life. In addition ID Data has installed a custom-built, three-way matching system for application which adds security and also maximizes the visual impact of the delivered pack.
ID Data, who already supplies Tesco’s “Clubcard,” the leading UK retail
loyalty scheme, has won in addition a deal worth approximately GBP1
million a year.
MoneyGram Payment Systems has teamed with Currency Connections Corporation to expand in the Philippines by opening up additional
flagship locations and by recruiting sub-agents. MoneyGram says it expects to have four flagship locations by the end of next year. In the Philippines, MoneyGram currently has more than 1,000 locations nationwide in affiliation with Equitable PCI Bank, Bank of Commerce and the Philippines Post Office via Peragram. MoneyGram provides global
person-to-person money transfer services which enable customers to send
money electronically to more than 70,000 locations world-wide in over 160 countries.
Discover Financial Services has beefed-up its suite of gift cards with nine new holiday designs. Launched one-year ago, the “Discover Gift Card” is available only to Discover cardholders for a fee of $5.50 for each card. Cardholders also earn a “Cashback Bonus” award every time they purchase a “Discover Gift Card.” The prepaid stored value card is available in denominations from $25 to $500. Discover is also promoting its “Card Gift Finder” this year, a free online tool that helps shoppers find the perfect present for everyone on their list. Additionally, Discover cardholders can double their “Cashback Bonus” award for purchases at any retailer that accepts the “Discover Card” at 40 participating malls throughout the USA. The promotion runs through January 31st. Discover has approximately 50 million cardholders. (CardTrak 10/15/03)Details