Moneris Solutions and Intuit Canada Launch Turn-Key Solutions for Retailers

Moneris Solutions and Intuit Canada have partnered to produce the “QuickBooks Point-of-Sale Complete Solution.” The solution enables retailers to accept a variety of customer payment options including cash, VISA, MasterCard and INTERAC Direct Payment. The program also automatically records sales data and customer profiles and manages inventory in real-time. The “QuickBooks Point-of-Sale Complete Solution” includes: “QuickBooks” point-of-sale software; “QuickBooks” accounting software; bar code scanner, cash drawer, receipt printer and card reader/PIN pad; and, integrated debit and credit payment processing with Moneris.

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Royal Bank of Canada Does Major ABS Deal

The largest ever single issuance of credit card asset-backed notes into the Canadian term market has closed. Royal Bank of Canada has securitized CD$1 billion of credit card receivables via the Golden Credit Card Trust. The senior notes of CD$950 million carried a yield of 4.2% while the subordinated notes of CD$50 million carried a yield of 5.1%. Standard & Poor’s has rated the senior notes “AAA” and the subordinated notes “BBB.” The dealer syndicate for the senior and subordinated notes was led by RBC Dominion Securities.

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BPH PBK Signs Multi-Year ATM Outsourcing Services Contract

BPH PBK SA has signed a multi-year agreement for Euronet to provide end-to-end ATM outsourcing services. Euronet will provide comprehensive ATM operation management and switching services, transaction gateway routing, reporting, cash management, cash forecasting services and vendor management for the bank’s existing network of 717 ATMs, in addition to providing value-added services such as electronic recharge. BPH PBK began its cooperation with Euronet in December 2002 when it joined Euronet’s ATM network participation program, enabling the bank’s 2.8 million customers to use any of Euronet’s 450 ATMs throughout Poland free of charge. BPH PBK SA is owned by Bank Austria Creditanstalt AG, which is owned the second largest bank in Germany, HypoVereinsbank AG. The agreement with Bank BPH PBK SA represents the fourth agreement between Euronet and an HVB subsidiary in Europe.

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Providian Unloads GetSmart.com

Providian has decided to unload its “[GetSmart.com][1]” online financial services marketplace to NC-based LendingTree for an undisclosed amount. Providian purchased “GetSmart.com” in March 1999 for $33 million in cash. The company was founded in 1997 by a group of executives from Wells Fargo and ex-McKinsey partners from the Mitchell Madison Group. Former Wells Fargo executive Bill Fisher lead the group and served as CEO. Capital partners included Reuters, Goldman Sachs, Robertson Stephens and technology investor Roger McNamee. Upon closing of this acquisition, expected to occur in December, LendingTree will continue to maintain the relationships with the more than 100 lenders who participate on the GetSmart network, and also offer the GetSmart platform to the more than 200 lenders on the LendingTree exchange. (CF Library 2/19/99)

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

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InfiCorp Buys $4MM Texas CU Card Portfolio

Atlanta-based InfiCorp Holdings has purchased the $4 million credit card portfolio of TX-based 1st Garland Community Federal Credit Union, with AssetExchange serving as the portfolio brokerage firm. 1st Garland Community Federal Credit Union is a full-service, community-based, not-for-profit, cooperative financial institution, and is owned by the members who save and borrow at the Credit Union. AssetExchange is a leading credit card portfolio brokerage firm for credit unions and other financial institutions. Services include credit card portfolio brokerage, free performance assessments and market valuations, and best practices consulting.

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New York Times Travel Show Scheduled for 2004

American Express has been named as the presenting sponsor for the first annual “New York Times Travel Show.” The show will be held February 27 – 29, 2004 at the Jacob K. Javits Convention Center in New York City. American Express will offer its Cardmembers special discounts and travel packages at the show, including opportunities to book vacations and weekend getaways at kiosks located around the show. American Express will also offer special packages to travel agents, tour operators, meeting professionals and suppliers traveling to the show. The New York Times Company, a leading media company with 2002 revenues of $3.1 billion, includes The New York Times, The International Herald Tribune, The Boston Globe, 16 other newspapers, eight network-affiliated television stations, two New York City radio stations and more than 40 Web sites, including NYTimes.com and Boston.com.

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Ready Hosting to Resell Terra Payments’ Services

Montreal-based Terra Payments has signed an agreement with Web hosting company Ready Hosting. Under terms of the agreement, Ready Hosting will resell Terra Payments’ credit card processing services and offer Terra’s electronic cheques. Ready Hosting is a Web hosting and domain name service provider with over 100,000 domain names under management. Terra Payments, formerly SureFire Commerce, provides technology and services that businesses require to accept credit card, electronic cheque and direct debit payments.

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Certegy Nails Check Contract with Knight Ridder

Knight Ridder has selected Certegy to provide full check warranty and ACH/electronic check processing for telephone orders for classified ads, subscriptions and advertising. Their decision to select Certegy’s PayNet Checks by Phone service was based on a growing need to offer an efficient and convenient ACH/electronic check payment solution to their customers. Knight Ridder is the nation’s second-largest newspaper publisher, with products in print and online and this includes 31 daily newspapers in 28 U.S. markets, with a readership of 8.3 million daily and 12.1 million Sunday. Certegy provides credit and debit processing, check risk management and check cashing services, merchant processing and e-banking services to over 6,000 financial institutions, 117,000 retailers and 100 million consumers worldwide.

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AmEx Launches OPEN Platinum Business Credit Card

American Express has launched a “Platinum Business Credit Card” through its “OPEN: The Small Business Network. AmEx says it is launching the new card with an aggressive advertising and marketing campaign that includes national and local television, radio and print ads. The new card will offer a 0% introductory APR on purchases and balance transfers for the first nine months and an ongoing rate as low as Prime +2.99%. The card will not carry an annual fee. Cardholders will also receive automatic savings at FedEx, Kinko’s and Staples as well as access to expense management reports and online account management tools.

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American Express Triples Miles for Delta’s Song

American Express is awarding triple “SkyMiles” and a special 1,000 mile bonus for the first in-flight purchase to “SkyMiles” consumer and business cardholders who charge tickets and make in-flight purchases on Delta’s new “Song” low-fare service between today and the end of this year. Song was developed to change customer expectations for high-quality, low-fare air travel and provides direct non-stop service between major cities in the Northeast United States and key Florida leisure destinations, plus Atlanta, Los Angeles, Las Vegas and San Juan. The Delta SkyMiles program offers many mileage-building opportunities including: the Delta SkyMiles Credit Card from American Express, participating hotels, car rental companies, restaurants and cruise lines. American Express Company is a diversified worldwide travel, financial and network services company

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MasterCard Adds 350 Merchants to SecureCode Program

Warsaw-based eCard S.A. and iBIZ Software of Texas have started to run live “MasterCard SecureCode” transactions for eCard’s “CommerSafe MPI” solution. eCard added the “MasterCard SecureCode” payer authentication process to their offering in May after launching a similar service for the “Verified by Visa” program. Both programs work on the same multi-merchants, multi-brand “CommerSafe MPI” platform. eCard has become one of the first payment processors in Europe to launch a live “SecureCode” service. eCard S.A focuses on secure Internet transactions processing and settlement.

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Smart Card Alliance Names New Chairman

The Smart Card Alliance has named Kevin Gillick, head of corporate marketing for the Datacard Group, as its new chairman. As head of corporate marketing for the Datacard Group, Kevin is responsible for worldwide marketing activities associated with the company’s broad range of identity solutions, card personalization and card life cycle management systems. The Smart Card Alliance is a not-for-profit, multi-industry association working to accelerate the acceptance of smart card technology. Through specific projects such as education programs, market research, advocacy, industry relations and open forums, the Alliance keeps its members connected to industry leaders and innovative thought.

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