Mitsubishi Tokyo Financial Names New Card Head

Mitsubishi Tokyo Financial Group is gearing up to issue its own credit cards one year from now to take advantage of deregulation which takes effect this week. MTFG named Izumi Tamai as General Manager, BTM, Director & General Manager, Comprehensive Card Division. Mitsubishi Tokyo wants to more than double its retail business by March 2007. Last week, the Company increased its stake in Acom to 15%. Acom is the country’s second-largest consumer finance company.

Details

Bank One to Replace 132 ATMs in Indiana This Year

Bank One announced it will spend $3.98 million to replace 132 ATMs in Indiana this year. The banking centers feature a new layout designed to reduce customer wait times. It features teller stations for conducting banking transactions. Individual offices adjacent to the customer transaction area provide a more private space for relationship bankers to conduct detailed financial discussions with customers. Bank One operates more than 180 banking centers in Indiana. Bank One Corporation is the nation’s sixth-largest bank holding company, with assets of more than $325 billion. Bank One currently has more than 50 million credit cards issued, serves nearly 7 million retail households, and approximately 20,000 middle market customers. It also manages more than $185 billion of clients’ investment assets.

Details

JCB International Adds 100,000 Merchants in Turkey

JCB International announced that Turkey’s Turkiye IS Bankasi is now authorized for JCB merchant acquiring through a sublicensing agreement. The license was granted to Isbank by JCBI’s direct licensee, Anadolu Kredi Karti. As a result, the number of merchants accepting JCB card in Turkey will increase to more than 100,000. Isbank maintains a network of 113,000 merchants and 121,000 POS terminals, representing 17% of the market. The Bank produces international credit card sales volume of more than US$19 million per annum. Anadolu Kredi Karti says its agreement with JCB in 1993 helped it increase sales at its 11,000 merchants and expects the Isbank deal to drive even more JCB volume.

Details

Savings Banks Renew with GZS through 2006

GZS Gesellschaft für Zahlungssysteme reports that nearly all of Germany’s savings banks have extended their contracts with GZS until 2006. Collectively, savings banks have 2.6 million VISA and MasterCards in force. Its customer base includes Hamburger Sparkasse, Frankfurter Sparkasse, Stadtsparkasse, and Kreissparkasse Köln. HSH Nordbank which was formed from the recent merger of Hamburgische Landesbank and Landesbank Kiel have also chosen GZS for its credit-card processing and, at the start of 2004, it, too, switched processors, engaging GZS with the handling of a former Landesbank Kiel credit-card portfolio. GZS processes for about 2,200 banks, retailers and industrial enterprises.

Details

ICBC to Launch a Dual-Denominated American Express Card This Year

Industrial and Commercial Bank of China has entered into a partnership to issue the first American Express-branded credit cards in the country. ICBC, which already has 100 million cards-in-force including the “Peony” card, expects to issue the new card by the end of this year, and possibly 4 million AmEx cards within the next ten years. The AmEx/ICBC card will be denominated in both renminbi and U.S. Dollars. The agreement is subject to regulatory approval. In January, Citibank and HSBC Holdings were approved to issue local-currency denominated credit cards in China. HSBC will issue cards through Bank of Shanghai, while Citibank will work through Shanghai Pudong Development Bank. Currently, there are 25 million credit cardholders, and virtually all of them are secured credit cards. American Express has now established card-issuing partnerships in 90 countries around the world. It recently signed a card-issuing agreement with MBNA, its first U.S. bank partner in the United States.

Details

Intelli-Check Revenues Climb 9% Last Year

Woodbury, NY-based Intelli-Check reported that revenues for 2003 rose 8.5% to $1.2 million. However, its net loss rose to $6.8 million from $5.6 million in 2002. The Company is a developer and marketer of proprietary document verification technology, which is contained in its “ID-CHECK” units and in its “ID-Check PC” software, and will be contained in its “ID-Check PDA” software products and the next release of “C-Link,” the company’s net workable data management software. Its software is now hardware-independent, meaning that it can be used on a variety of data processing devices, including POS terminals or computers. For complete details on Intelli-Check’s fourth quarter results visit CardData ([www.carddata.com][1]).

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

Details

MoneyWi$e Partnership Hands-Out $125K

Consumer Action and Capital One announced their joint “MoneyWi$e” financial literacy partnership will grant more than $125,000 to 36 community-based non-profit organizations in 8 states. Now in its second year, the MoneyWi$e stipend program provides financial support to help local organizations deliver financial literacy training to under-served communities across the country. Capital One Financial Corporation () is a holding company whose principal subsidiaries include: Capital One Bank and Capital One, F.S.B., which offer consumer lending products, and Capital One Auto Finance, Inc., which offers primarily automobile financing products. Consumer Action is a non-profit, membership-based organization founded in San Francisco in 1971.

Details

Cash Systems 4Q/03 Revenues Up 78%

Minneapolis-based Cash Systems reported that revenue for the fourth quarter was $8.8 million, an increase of 77.6%, compared to 4Q/02. Income from operations was $585,000, an approximate $1.0 million improvement from the prior year period. Net income increased over $500,000 to $330,000, compared to a net loss of $195,000 in the prior year period. For the full-year, Cash Systems posted revenue of $32.7 million, an increase of 113.2% over 2002. Net income for 2003 was $1.7 million, compared to the net loss of approximately $971,000 in the prior year period. During 2003, the casino ATM operator began providing cash access services at Grand Casino Coushatta, the five Seminole tribal casinos in Florida, the Agua Caliente and Spa Resort Casinos, and Trump Casino in Gary, Indiana. Cash Systems recently completed a private placement which raised more than $9 million in working capital. For complete details on Cash Systems fourth quarter results visit CardData ([www.carddata.com][1]). (CF Library 3/29/04)

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

Details

UATP Selects New Marketing Partner Awards

UATP honored 11 of its issuer airlines yesterday who will qualify for a portion of UATP s $1.5 million cooperative marketing rebates, which are paid to Issuers each quarter. Gold-level awards, the highest level achievable, were given to eight airlines American Airlines, Continental Airlines, Delta Air Lines, Lufthansa/AirPlus, Qantas Airways, SAS, United Airlines, and US Airways for their compliance with all 11 minimum marketing standards adopted by UATP s board of directors and implemented last year. UATP is a global corporate travel payment network. UATP accounts are actively issued by 15 member airlines and accepted as a form of payment for corporate business travel by more than 200 airlines worldwide.

Details

Moneris Signs Signature Vacations for Processing

Moneris Solutions has signed Signature Vacations, Canada’s leading package holiday company, to a six-year agreement for credit and debit card processing. Signature Vacations chose eSELECTplus because it provides travel agents access to a web-based tool on their desktop, enabling real-time processing of credit card orders and quick end-of-day batch processing. Moneris Solutions Corporation is Canada’s largest provider of payment processing solutions for merchants. Signature Vacations is Canada’s leading mainstream package holiday company, specializing in sun-destination vacations.

Details

iBIZ and ai Team for a Hosted 3-D Secure Service

TX-based iBIZ Software and the UK’s ai Corporation have partnered to combine the ai “SmartAuth” with iBiz’s “CommerSafe MPI” to provide a hosted service for “3-D Secure” payer authentication for Internet merchants, acquirers, payment gateways, and payment service providers. By requiring cardholders to authenticate themselves in real-time against their issuing bank, programs like Verified by Visa and SecureCode bring a high level of security to online transactions. iBIZ is a pioneer and a recognized leader in online payment card security and offers robust authentication solutions for the entire e-payments industry.

Details

USTT Hires a Business Development Executive

PA-based USA Technologies has hired John Roughneen as VP/Strategic Business Development. Most recently, Mr. Roughneen was Vice President and General Manager of Crane ARM, a business unit of Crane Merchandising Systems. His responsibilities with Crane included the development of the Automated Retail Machine from concept inception to deployment. USA Technologies is a leader in the networking of distributed assets, wireless non-cash and m-commerce transactions, associated financial/network services and interactive media technology and energy management.

Details