Kintera, a provider of service to non-profits, announced a strategic alliance with American Express to launch a marketing program that would benefit non-profit organizations. In the three-year agreement, non-profits using the “Kintera Sphere” software platform will be able to receive additional donations to their organization. If a non-profit organization participates in the American Express program, an additional contribution will be made to their organization during the fundraising campaign each time a donor uses an American Express Card to make a donation through the Kintera platform. The lead recipient of the program will be “Toys for Tots.”Details
Zebra Technologies has introduced the “Zebra P330i ” desktop card printer/encoder. The “P330i” is a single-sided, full color plastic card printer/encoder. Features enable organizations to create high quality photo ID cards, secure access control cards, financial cards, membership cards, and more. The “P330i” includes a USB interface in all the configurations of the printer/encoder and offers built-in Ethernet connectivity as a factory installed or upgradeable option. The “P330i” will be available on December 1st.Details
Hyatt Hotels and Resorts has partnered with the Rewards Network. Members who book hotel reservations through the Rewards Network via online or the hotel reservations number can reserve a room and earn “Cashback Rewards” or up to 7 airline miles for every dollar that is spent on the rate of the room. With the addition of Hyatt hotels, members of the Rewards Network have a choice of 106 destinations in the USA. Hyatt operates 122 hotels and resorts in the U.S., Canada, and the Caribbean. The Rewards Network provides loyalty and rewards programs for restaurants and hotels through its registered credit card platform. There are 3.7 million active members and more than 10,600 restaurants and over 11,100 hotels that participate in Rewards Network’s rewards programs.Details
NCR reported that its Financial Self Service segment, which primarily includes ATMs, produced record third-quarter revenue of $338 million, up 25% from 3Q/03. NCR says it is seeing continued growth in upgrades, replacements, and the purchase of new ATMs. Also, the recently enacted Check 21 legislation is driving more banks in the USA to invest in deposit-capable ATMs. For the Retail Store Automation segment, third quarter revenues was up 3% to $217 million. NCR says retailers continue to be disciplined in their capital spending but deployment of self-checkout systems is expanding. NCR projects fourth quarter revenue growth of 3% to 5% for Financial Self Service and 6% to 8% for Retail Store Automation. For complete details on NCR’s third quarter performance, visit CardData ([www.carddata.com]).
Egg reports that its new MasterCard product, launched in June, has racked up more than GBP100 million in card balances. Egg also projects its interest income to rise significantly in the fourth quarter after recently bumping up its standard variable rate by 100 basis points. For the third quarter, Egg produced an operating profit for its British “Egg VISA” card of GBP18.6 million versus an operating loss of GBP2.7 million for its French “la Carte Egg VISA.” Overall, the Egg Group posted a year-to-date loss before tax of GBP103 million, which includes GBP113 million in exits costs for France and the operating losses of GBP35 million incurred in France up to the date of its announcement to withdraw from the market. Banque Accord is in the process of acquiring the French Egg credit card portfolio for GBP97.5 million. The portfolio has 66,000 customers and net assets of approximately GBP143 million. During the quarter, Egg added 105,000 new credit cardholders in the U.K. to bring its total portfolio to 2,249,066 cardholders. Total Egg credit card outstandings were GBP3,306 million at the end of September. For complete details on Egg’s third quarter performance, visit CardData (www.carddata.com).Details
Transaction Systems Architects reported that revenue for the quarter ended September 30th was $69.7 million, a decrease of 2.9% from the same quarter last year. Net income for the quarter was $10.0 million, compared to net income of $9.1 million for the year ago period. During the quarter, the Company added twenty-one new customers while maintaining a worldwide presence of 76 countries. ACI Worldwide, the Company’s largest business unit, added ten new customers during the quarter. Insession Technologies, the Company’s e-infrastructure business unit, added 11 new customers and licensed 11 new applications to existing customers during the quarter. The Company completed the quarter with $229.6 million in backlog. TSAI estimates revenues for the next twelve months to be between $279 million and $308 million. For complete details on TSAI’s third quarter performance, visit CardData ([www.carddata.com]).
LaserCard Corporation, f/k/a Drexler Technology Corporation, reported revenues of $7.8 million, a 200% increase over 3Q/03. Highlights of the second quarter ended September 30, 2004 include a $5 million follow-on order by the Department of Homeland Security for LaserCards(R) to be used as Green Cards, the follow-on purchase order of 265,000 chip-ready optical memory cards for the national ID card program in the Middle East, a $0.3 million follow-on order for secure, durable non-optical ID cards for the national family ID program in the Middle East, and the change of their corporal name to LaserCard Corporaton. After the second quarter, LaserCard Corporaton added new VARs in the U.S., Greece, and Poland. They also received orders for 38,000 optical/smart cards for the Gujarat and Delhi states, located in India. In addition, German operations received the ISO9000 certification. LaserCard Corporation is a manufacturer and marketer of LaserCard(R) optical memory cards, chip-ready Smart/Optical(TM) cards, and other advanced-technology secure identification cards. It has sold more than 25 million secure ID cards, meeting demand requirements for border security, digital governance, and national identification.Details
The U.S. Postal Service confirmed it has inked a “Negotiated Service Agreement” with Discover Financial Services. The Discover NSA is similar to the Capital One NSA implemented last year. Bank One, which struck a deal with the Postal Service in June, is now awaiting approval from the Governors of the Postal Service. Under the terms of the Discover NSA, the issuer will earn lower rates for First-Class Mail volume in excess of 405 million pieces in the first year of the agreement. In exchange, Discover will accept information electronically from the Postal Service about undeliverable-as-addressed First-Class Mail in lieu of receiving the actual mail. Since September 2003, Capital One has been able to mail credit card solicitations using First-Class Mail at discounts up to 6 cents per piece under its NSA. (CF Library 8/27/04)Details
San Diego-based Encore Capital Group reported that gross collections were up 22% to $59.9 million, and that total revenues were up 58% to $46.5 million. Net income rose 90% to $5.9 million. The Company spent $21.0 million to purchase approximately $721 million in face value of portfolios during the third quarter, a blended purchase price of 2.91% of face value. Credit card portfolios represented 42.2% of total purchases in the quarter. Encore has been shifting to more profitable non-credit card portfolios, which do not require contingent interest payments. For complete details on Encore’s third quarter performance, visit CardData ([www.carddata.com]).
The federal bank and thrift regulatory agencies are requesting comment on proposed guidance for “Internal Ratings-Based Systems for Retail Credit Risk for Regulatory Capital”. A description of the agencies’ current views about the components and characteristics of a qualifying IRB system for measuring credit risk of retail exposures is provided to banking organizations through the proposed guidance. Comments are requested by January 25, 2005. Directions on how to file a comment are found in the Federal Register notice.Details
Continental Airlines is now accepting checks via the TeleCheck “Internet Check Acceptance” service, cash via Western Union and is offering the “Bill Me Later” service from I4 Commerce. Customers who purchase tickets at continental.com using cash, check, or deferred payment options before December 31, 2004 will earn an electronic certificate, valid for a 5% discount on a future Continental Airlines ticket. Continental Airlines operates over 3,000 daily departures throughout the Americas, Europe, and Asia, making it the world’s 6th largest airline. It serves more domestic and international destinations than any other airline in the world. FORTUNE ranks Continental as one of the 100 Best Companies to Work For in America and as the top airline in its 2004 edition of Most Admired Global Companies.Details
Capital One has named Ann Fritz Hackett, president of the Horizon Consulting Group, to its Board of Directors. Ms. Hackett will serve on the Board’s Audit and Risk Committee and its Governance and Nominating Committee, filling a new seat on the Board. Before her career at Horizon, Hackett served as vice president and partner in strategy and human resources at Strategic Planning Associates, Inc. She serves on the board of Woodhead Industries, Inc. and formerly served on the Board of Trustees at Dartmouth College, her alma mater. Capital One Financial Corporation is a holding company with principal subsidiaries, Capital One Bank and Capital One, F.S.B. Capital One is a Fortune 500 company and one of the largest providers of MasterCard and Visa credit cards in the world.Details