MBNA Kicks-Off an NFL Extra Points Card

MBNA yesterday rolled-out a new credit card offering football fans a variety of NFL and NFL TEAM experiences such as dinner with a coach, golf with former players, sideline passes, game tickets, etc. The new “MBNA NFL Extra Points” credit card is available with the team logo of any of the 32 NFL clubs, or the NFL shield. Cardholders receive one point for each dollar charged. “Extra Points” redemptions include VIP Draft Party Access for 8,000 points, two game tickets for 35,000 points, dinner with a coach for 80,000 points, and two “Super Bowl” tickets for 200,000 points. MBNA is the official credit card issuer of the NFL and all 32 NFL teams.

Details

AmeriCard Becomes OneBridge

Card processing company, AmeriCard, has changed the company name to OneBridge. This name change comes along with the announcement that they have also expanded their business focus with a new vision of specializing in making money move by providing comprehensive card processing solutions. The expansion includes offerings to enhance the card transaction process beginning with the recent introduction of its new proprietary system.

Details

Applied Card Systems Settles FTC Charges

Applied Card Systems, whose representatives allegedly harassed consumers with multiple phone calls and abusive language, agreed to settle FTC charges that their business practices violated federal law. The FTC alleges that third parties, including relatives, neighbors, and employers were continuously called by Applied Card Systems even after representatives were told that the consumer they are looking for does not reside or work with them.

Details

Global Payments Now Owns 100% of Cash & Win

Global Payments has acquired the remaining 49% interest in the “Cash & Win” service from Comerica Bank. “Cash & Win” provides credit and debit card cash advance service to patrons of the gaming industry. GPN originally obtained a 51% ownership interest in the “Cash & Win” service in 2001, when Comerica Bank sold the former Imperial Bank merchant portfolio to the Global Payments Comerica Alliance.

Details

UK Card Yields Decline as Interest Rates Rise

Delinquency and charge-offs for credit card-backed securities, during the second quarter in the UK, remained steady sequentially, but are noticeably higher than one-year ago. Yields have steadily declined over the past twelve months as interest rates have edged up, and the monthly payment has headed north. Delinquency (60-180 days) ticked upward to 2.60% in the second quarter, compared to 2.50% in the first quarter of 2004, and in the second quarter of last year. According to FitchRatings, charge-offs remained at 4.40% for the first two quarters of this year, but are significantly higher than 2Q/03’s 4.00%. Yield dropped to 18.17% in the second quarter, compared to 19.18% in the previous quarter, and 20.10% one-year ago. The monthly payment rate increased to 17.88% in the second quarter, compared to 17.50% one-year ago,and 17.30% in the first quarter of this year. For the Royal Bank of Scotland yield decreased during the second quarter, falling to 17.2% in June from 18.9% in the previous quarter. MBNA’s yield stayed stable around 20.5% but delinquencies increased to 3.0% and charge-offs rose to 4.1%. For Egg, delinquencies and charge-offs were slightly higher during the second quarter than in the beginning of the year. Capital One’s yield remained steady above the 22% level for the second quarter, the highest level for UK ABS. Capital One’s delinquency and charge-off rates fell to 3.1% and 4.9% from 3.4% and 5.3%, respectively, between the first and second quarters of this year.

UK ABS CARD METRICS
Charge-Offs Delinquency Yield MPR
2Q/03: 4.00% 2.50% 20.10% 17.50%
3Q/03: 3.90% 2.20% 18.30% 16.50%
4Q/03: 3.90% 2.20% 18.50% 17.40%
1Q/04: 4.40% 2.50% 19.18% 17.30%
2Q/04: 4.40% 2.60% 18.17% 17.88%
MPR-monthly payment rate
SOURCE: FitchRatings

Details

MasterCard’s PayPass Takes Off for Atmel and OTI

Atmel and On Track Innovations have received the first commercial quantity orders of contactless microprocessors developed for the MasterCard “PayPass” contactless payment program. PayPass will provide a simpler way to pay for small transactions when speed and customer flow are essential. In addition to the card’s magnetic stripe, the PayPass contains a secure contactless microprocessor chip and antenna.

Details

NOVA and EuroConex Technologies Expand in Europe

SEB Kort AB and Europay Norge AS have signed a definitive agreement for the sale of their merchant acquiring business to a Norway-based affiliate of NOVA Information Systems. EuroConex Technologies will manage the processing services for all new and existing merchant customers, and will market merchant services under the euroConex brand. SEB Kort’s portfolio in Euroline Norge (owned by Europay Norge) consists of more than 45,000 points of sale for MasterCard and VISA in Norway. Europay Norge established its financial services in 1972, and the acquiring business was renamed Euroline after it was purchased by SEB Kort AB in 2003. Europay Norge currently has approx. 50 percent market share of the international card market (merchant volume) in Norway. In 2003 the overall acquiring market in Norway amounted to NOK 42 billion (Euro 5 billion) distributed over 93 million transactions, and the use of cards is increasing steadily.

Details

Diebold’s Opteva ATMs Invade Australia

Australia’s largest building society, Heritage, announced a $1.2 million refurbishment of its fleet of ATMs that includes the first-ever use of digital surveillance cameras by an Australian building society. Forty-seven new Diebold “Opteva” ATMs will be deployed throughout Heritage’s network of branches and mini branches, bringing the total number of devices in the Heritage ATM network to 82. Ten of these units will be installed in new sites. The advanced “Opteva” terminals are being deployed with digital surveillance cameras, alarms, consumer awareness mirrors and many exclusive security enhancements designed to deter such criminal activity as card-skimming, in which personal information is duplicated from transaction cards.

Details