Rewards Network Adds Wood to the Board

Rewards Network has named Frank Wood, CEO of Secret Communications to its Board of Directors. Mr. Wood, a 33-year veteran of the radio industry, is currently the CEO of Secret Communications L.L.C., a private venture capital company and also co-founder and principal of The Darwin Group, a venture capital firm. He has been CEO of Secret Communications since 1991. Between 1991 and 1997, Secret owned and operated twenty-two radio stations in nine major markets, before selling the primary portfolio of stations in 1997 and redeploying some of its capital in a number of entrepreneurial businesses. Rewards Network, headquartered in Chicago, Illinois, provides loyalty and rewards programs for restaurants and hotels via its registered credit card platform.

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CCAFS Lowers Pricing on its Farm Rewards Card

Manitoba-based Canadian Cooperative Agricultural Financial Services has reduced the interest rate on its “AGRICARD” credit card to 11.9%. CCAFS also announced that “AGRIPOINTS” rewards can be redeemed for “Sears Gift Cards.” The card currently offers “AGRIDOLLAR” rewards which can be used for farm product purchases and “AGRIPOINTS” earned on every purchase, redeemable at over 1,000 merchants. “AGRICARD” is a division of Canadian Cooperative Agricultural Financial Services doing business as AGRIFINANCE, a financial cooperative owned by the Canadian credit union system. AGRICARD, introduced in 1995 provides customized, pre-approved lines of credit to be used specifically for the purchase of parts and service through its network of authorized dealers.

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Marriott Pilots NCR Check-In Solution

Marriott International is piloting the NCR “EasyPoint Xpress Check-In” solution in three Marriott properties. The system enables guests the option to bypass the front desk. This solution includes room changes, room key encoding and dispensing, folio printing and guest identification. Marriott is also using the kiosks to deliver customized marketing promotions and Marriott “Rewards Platinum Level” arrival gift selection. The “EasyPoint Xpress Check-In” solution combines NCR’s self-service kiosk platform with the check-in application from It Just Works Software. Marriott has about 2,700 lodging properties in the USA.

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Corporate Multi Card Fleet Card Launched in Europe

Spain’s BBVA and Repsol have teamed to launch the first MasterCard “Corporate Multi Card Fleet Card” in Europe. More than 100,000 “SOLRED MasterCard” cards are expected to be issued in the first year, according to this week’s issue of CardFlash International. The card is a combination of a payment and fleet card. The card is unique in Europe, since its corporate multi card functionality enables different functions to be combined on the same piece of plastic. Cardholders have a MasterCard card that they can use in MasterCard’s global network and a card that can be used at any one of the Repsol Group’s 3,500 petrol stations in Spain (Repsol, Campsa and Petronor) to receive a 2% discount. Another key benefit includes a monthly statement showing their fuel purchases and VAT breakdown. Cardholders can track and control their fuel expenses online, using the BBVA Net, Uno-e.com, Línea BBVA or Línea Uno-e services. In addition, they receive accident insurance cover, and travel assistance services. ([www.cardflashinternational.com][1])

[1]: http://www.cardflashinternational.com

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Most Common Cash Advance Fee is 3%

Cash advance fees have increased 250% for small advances and 900% for large advances compared to 15 years ago. According to CardTrak(R), nearly all major bank card issuers charged a cash advance fee of 2% with a $2 minimum and a $10 maximum fee in 1989. Today, all major bank card issuers charge a 3% fee with at least a $5 minimum and no maximum.

CREDIT CARD CASH ADVANCE FEES
1994 2004
1. Citibank 2% ($5min/$10 max) 3% ($5 min/No max)
2. MBNA 2% ($2 min/No max) 3% ($5 min/No max)
3. Bank One 2% ($10 min/No max) 3% ($5 min/No max)
4. Chase 2% ($2min/$10max) 3% ($5 min/No max)
5. Discover 2.5% ($2 min/No max) 3% ($5 min/No max)
6. Capital One 3% ($10min/No max) 3% ($5 min/No max)
7. Am Express 2% ($2.50min/$20 max) 3% ($5 min/No max)
8. Bnk of Amer 3% ($2 min/No max) 3% ($10min/No max)
9. HSBC/HH 2% ($2 min/No max) 3% ($15min/No max)
10. Providian 5% ($3 min/No max) 3% ($10min/No max)
Source: CardWatch (www.cardwatch.com)

CURRENT CREDIT CARD CASH ADVANCE APRS

1. Citibank 19.99%
2. MBNA 19.99%
3. Bank One 19.99%
4. Chase 19.99%
5. Discover 22.99%
6. Capital One 19.90%
7. Am Express 18.99%
8. Bnk of Amer 19.99%
9. HSBC/HH 19.99%
10. Providian 19.99%
AVG AVG 20.18%
Source: CardWatch (www.cardwatch.com)

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Diebold Inks a Deal to Manage Jammu and Kashmir Bank’s ATM Network

Diebold Systems has secured a contract for professional and managed services to the Jammu and Kashmir Bank. Under terms of the deal, Diebold will provide around-the-clock, real-time remote monitoring and management from its dedicated Managed Services Centre in Mumbai for Jammu and Kashmir Bank’s network of more than 100 ATMs. Diebold also offers Jammu and Kashmir, a leading private sector bank, an electronic journal uploading service which transmits data to a central location and facilitates online analysis. The Jammu and Kashmir Bank’s 110 ATMs have also been supplied by Diebold, including a solar-powered machine at Leh. Jammu and Kashmir Bank is India’s first state government-owned bank and has over 450 branches across the country.

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Credit Manager’s Index Declines in May

The National Association of Credit Management released its “Credit Manager’s Index” for May which shows an overall reading of 60.2%, a decline from its record high registered last month. This reading has fallen from its record high registered last month, as have those for both the manufacturing and service sectors. The readings indicate that although growth continues to be strong in each sector, the rate of change in May relative to April slowed with greater deceleration in the service sector. The National Association of Credit Management, headquartered in Columbia, Maryland supports more than 25,000 business credit and financial professionals worldwide with premier industry services, tools and information.

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Costco Installs 200th StoreLine Fuel Solution

Costco Wholesale has installed its 200th fuel site with the Retalix “StoreLine Fuel Solution”. Retalix was selected as the preferred fuel application provider by Costco after extensive comparison and performance testing, and Costco is currently operating with the Retalix StoreLine solution in all of its North American fuel stations. StoreLine fuel provides high throughput and solid reliability in an unattended environment that includes some of the busiest fuel sites in the country. Costco currently operates 433 warehouses, including 320 in the United States and Puerto Rico, 63 in Canada, 15 in the United Kingdom, five in Korea, three in Taiwan, four in Japan and 23 in Mexico. Retalix Ltd., with North American headquarters in Dallas, TX, provides integrated enterprise-wide software solutions for the global retail fuel and food industries, including supermarkets, convenience stores, fuel stations and restaurants.

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Diebold Board Authorizes Another Stock Repurchase

Diebold’s Board of Directors has authorized an additional two million share stock repurchase as it has approximately 170,000 shares remaining under its previous authorization. The company plans to opportunistically repurchase shares as a means of returning cash to its shareholders and offsetting the dilution from company issued shares under employee stock option and other award programs. Diebold, Incorporated, is a global leader in providing integrated self- service delivery systems, security and services.

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T-Mobile’s Mobile Wallet to be Powered by Encorus

Europe’s first cross-border interoperable m-payments system is taking shape. The T-Mobile “Mobile Wallet” system is based on a complete end-to-end solution provided by Encorus, which is majority owned by First Data. T-Mobile’s “Mobile Wallet” is available to T-Mobile customers on t-zones (T-Mobile’s mobile multi media services), enabling them to make simple and secure payments for goods and services from their mobile devices using existing credit or debit cards. The t-zones portfolio of infotainment offers already include a wide range of news, games, sport, music, finance and chat services. Uniquely, Encorus has provided T-Mobile with wallet software, transaction processing and merchant acquiring services. Merchants participating in the t-zones service include Allsports, Aral, ebookers, Germanwings, getgo, OTTO, Orion, TELTIX, and WHSmith to name just a few. At the end of 2003, T-Mobile had 61 million customers in its owned and controlled operations and around 90 million customers including its minority interests and network operations it manages directly owned by Deutsche Telekom.

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Ford Accepts the Voyager Fleet Card

U.S. Bank Voyager Fleet Systems announced an acceptance agreement with Ford Motor Company. “Voyager Fleet Card” holders will now be able to pay for products and services at all participating Ford and Lincoln-Mercury dealership locations nationwide. More than 1,500 dealerships are currently enrolled in the “Voyager Fleet Card” acceptance program. Voyager Fleet Systems currently provides universal fleet fueling and maintenance card for over 1.3 million vehicles. The “Voyager Fleet Card” is now accepted at over 185,000 retail locations in all 50 states. The “Voyager Fleet Card” offers purchase control, exception monitoring, flexible reporting options, merchant discount, online customer access, tax exemption, as well as flexible billing and payment options.

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