CA-based Payment Processing, Incorporated has hired Robert Renzulli, formerly with First National Merchant Solutions, as Director of Emerging Technologies. Mr. Renzulli joins PPI from First National Merchant Solutions, a First National Bank of Omaha subsidiary, where he served as Vice President of Solutions Development responsible for the technical sales engineering team, the Payfuse gateway and First National Batch product and solutions development. Prior to First National, Mr. Renzulli was Manager of Global Alliance Sales Engineers at Clear Commerce Corporation where he was responsible for successful gateway projects at Banamex in Mexico, Royal Bank of Canada, Bank of Montreal and Visa International. Payment Processing, Inc., headquartered at the north end of Silicon Valley in Fremont, California, is a leading provider of custom payment processing solutions for Retail merchants, MOTO merchants and Internet merchants.Details
American Express and the syndicated TV show, “Wheel of Fortune,” have signed a cross-marketing deal to promote “Blue Cash from American Express” to “Wheel of Fortune” viewers. Beginning this week and continuing through December 19th, “AmEx Blue Cash” will offer “Wheel of Fortune” viewers the chance to win $5,000 each night. Five winners will be chosen each night for ten nights, for a total of $250,000.00. From December 15th through December 19th, viewers will see a blue set, custom designed for “Wheel of Fortune.” It will feature a Blue Cash wedge on the Wheel, blue-themed prizes including blue cars, blue-themed trips to the House of Blues Hotel in Chicago, and to Las Vegas to see the Blue Man Group. The marketing and promotional program is being executed by Sony Pictures Digital Networks.Details
About 500 smart card executives are expected to attend next month’s “OMNICARD 2004” conference in Berlin. Featured speakers include Olivier Piou, Carlo Bozotti, Marc Lassus and Remy de Tonnac. The program will explore the market for both contact and contactless smart cards. Other areas of discussion include mobile phones, electronic signature, identity cards, and passports with biometric features, electronic tickets, electronic driving licences and vehicle registration certificates.
The event is scheduled for January 14th – 16th
Vancouver-based DataWave Systems has signed a deal with Money Card, Moneris Solutions, CU-Connection, Nextwave Card, and PACE Savings & Credit Union to launch cash cards in the Canadian market. The cash card program is being spearheaded by Nextwave Card (50% owned by DataWave.) Nextwave will market the cash card to customers in the financial services sector providing the hardware and software required to activate and reload cards, as well as monitor and report transactions to vendors. Moneris Solutions in Toronto is responsible for settlement of funds from card transactions, while CU-Connection in Scarborough, Ont. is responsible for authorizing all transactions and providing switching services to facilitate settlement of funds. PACE Savings & Credit Union in Vaughn, Ont. is acting as the authorized Bin number issuer for all prepaid cards. National Money Mart is the first customer to use the Nextwave cash card system. Following the successful pilot of Nextwave cash cards at five Money Mart branches in Victoria, B.C., the company plans to introduce branded personal cash cards at its 295 Canadian branches in a phased rollout starting in 2004.Details
The International Card Manufacturers Association has released the names of this year’s winners of the “Ãlan Awards for Card Manufacturing Excellence.” The “Best Financial Card Design” award was given to Perfect Plastic Printing and ORGA Card Systems for their dual effort in creating the “Public Bank MasterCard.” Finalists for the “Best Financial Card Design” included Security Plastics for its “MBF Gaia VISA Gold Card” and Trub AG for its “VISA Classic Special Edition” featuring Wassily Kandinski Art. The “Best Non-Financial Card Design” winner was CPI Card Group for its “Starbucks VESPA” card. Finalists for the “Best Non-Financial Card Design” included Plastag Corporation for its “Discovery Channel Gift Card” and Innovative Plastic Printing Corp. for its “Friedman’s Advantage Plus Card.” The ICMA also presented its second annual “Spiritus Award” to Pune, India-based M-Tech Innovations and the UK’s ID Data Systems.Details
Wells Fargo yesterday launched the “Wells Fargo Global Payment Gateway” service, which incorporates “Verified by Visa,” for merchants. With Verified by Visa, merchants in the program are protected from fraudulent credit and debit card transactions. With Verified by Visa, the merchant is no longer liable for fraud related chargebacks. Wells Fargo & Company is a diversified financial services company with $391 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from more than 5,900 stores and the Internet (wellsfargo.com) across North America and elsewhere internationally.Details
Park Place Entertainment Corporation, which is changing its name to Caesars Entertainment next month, has launched a co-branded credit card that offers “comp dollars” as a cardholder reward. The new “Caesars Entertainment MasterCard,” issued for Park Place by Juniper Bank, offers cardholders a one percent “comp dollar” credit for all purchase transactions, plus 10 bonus “comp dollars” the first time they use the card. The “comp dollars” earned with the new card can be used to pay for hotel rooms, dining, show tickets, spa services, golf tee times and other amenities at 15 domestic casino resorts. Park Place operates Bally’s, Caesars, Flamingo, Grand Casinos and Paris resort casinos in the USA. Through the gaming resort company’s existing “Connection Card” loyalty program, guests earn a bank of comp dollars that can be spent like cash in its casino resorts. Members earn rewards through slot machine and table game play, as well as through hotel cash folio charges. “Connection Card” members who use their “Caesars MasterCard” to pay for a hotel stay at a participating property will receive the one percent credit in “comp dollars,” in addition to the three percent hotel rewards benefit the “Connection Card” program currently offers. The “Caesars MasterCard” carries a six-month 0% intro on balance transfers and a variable 12.99% APR thereafter.Details
Budapest-based Euronet Worldwide has named Andrew Schmitt, Layne Christensen Company president and CEO, to its Board of Directors. Euronet offers outsourcing and consulting services, integrated EFT software, network gateways, and electronic top-up services to financial institutions, mobile operators and
retailers. The Company operates the largest independent pan-European ATM network, and is a leading provider of electronic distribution services, or top-up services, for prepaid mobile airtime and other prepaid services. The company has processing centers located in the U.S., Europe and Asia, and processes electronic top-up transactions at more than 83,000 points of sale across 37,000 retailers in Europe, Australia and the U.S.
VISA USA reported that daily card dollar volume fluctuated dramatically last week due to the East Coast weekend snowstorm. VISA says on Thursday, December 4th, total volume jumped 22% as consumers prepared for the storm, while on Saturday, December 6th, growth was a more modest 5%. For the third holiday shopping week retail spending on VISA cards was up 7.4% compared to last year. VISA data show spending in discount stores was up nearly 9%, while department store spending was up nearly 4%. Total VISA volume for the week ending December 7th was up 13.3%, to more than $21.9 billion. Overall retail spending volume on VISA cards was $9.0 billion for the week, compared to $8.3 billion for the previous week. Debit card retail spending was $3.0 billion for the week, a 15% jump over the same year-ago period. Credit card retail spending was up 4% to $5.9 billion. VISA alson reports that spending in the e-commerce channel was up 51% to about $2.0 billion.
(Week Ending 12/07/03)
Home & Garden $1.3 billion +12%
Personal Entertainment $1.2 billion +11%
Speciality Stores $1.4 billion + 9%
Discount Stores $1.4 billion + 9%
Department Stores $3.6 billion + 4%
Source: VISA SpendTrak
PayPal announced Monday new micro-payment processing fees for high volume online digital music companies at 2.5% plus $0.09 for each transaction, a 30% to 50% reduction off the industry’s current payment processing rates. The reduced fixed fee represents a 30-50% savings compared to the industry’s current payment processing rates of approximately 2% plus $0.20-$0.30, which encompasses interchange, processor and gateway fees. PayPal, an eBay Company, enables any individual or business with an email address to send and receive payments online securely, easily and quickly. PayPal’s service builds on the existing financial infrastructure of bank accounts and credit cards and uses the world’s most advanced proprietary fraud prevention systems to create a safe, global, real-time payment solution.Details
Dione has launched a new version of its EFTPoS payment terminal
which includes an integral modem and printer. The new
“Xtreme Integrated” is designed as a compact counter-top solution that can
read magstripe and chip cards, is fully PIN enabled and approved to the
“VISA PED” standard. The printer is self-feeding and features a clam-shell
design for easy paper loading. Dione introduced its “Xtreme Handset”
terminal earlier this year.