TERADATA & BOC

Bank of China has selected Teradata data warehouse and customer relationship management solutions to establish a new generation of profit-oriented bank-card sales and customer-service systems for its more than 47 million bank cards in issue. The Bank of China has developed the largest customer base and merchant network in the domestic bank-card market in mainland China with the issuance of the Great Wall credit card, Great Wall debit card and Great Wall International card.

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Do Not Call Registry Tops 10 Million

Since the Do Not Call Registry was launched on Friday, June 27, consumers have registered more than 10 million telephone numbers. “Consumer response has been enthusiastic,” commented Federal Trade Commission Chairman Timothy J. Muris. “The highest sustained system access we’ve seen occurred Friday evening between 6 p.m. and 7 p.m. EDT when an average of 158 telephone numbers were entered into the system per second.”

On Friday, seven million telephone numbers were logged into the system; Saturday the number slowed to 4.6 million; and Sunday the number was two million. The majority, 85 percent of the registrations, have occurred online ­ a process that requires consumers to confirm and complete their registrations by clicking on their Do Not Call confirmation e-mail. Currently, more than three million consumers have sent a registration request to [www.donotcall.gov][1] but have not clicked on the response e-mail and confirmed their registration. Consumers are reminded that to register their numbers with the Do Not Call Registry, they must finish the registration process.

[1]: http://www.donotcall.gov

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Experian Buys Another Credit Bureau

Experian is acquiring Credit Data of West Texas. Credit Data of West Texas has been an Experian affiliate for more than 13 years. As a result of the acquisition, clients served in Midland, Odessa, San Angelo, Abilene and Lubbock, Texas as well as a portion of Western Oklahoma will have access to the full range of Experian’s portfolio management, scoring and fraud prevention solutions. Experian works with more than 40,000 clients across diverse industries, including financial services, telecommunications, health care, insurance, retail and catalog, automotive, manufacturing, leisure, utilities, property, e-commerce and government.

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Household Extends Kanbay SLA Contract

Kanbay has signed a four-year, $65 million contract, the largest service level agreement in its 13-year history working with Household International. Kanbay currently represents over 40 percent of Household’s code development capacity. Kanbay’s services range across several core business areas within Household including consumer and mortgage lending, banking and private label credit card systems, internal business, data, testing and internal messaging systems. Kanbay and Household are tightly integrated in a “co-sourced” model that unites the resources of both companies to form a unique approach to developing technology solutions that serve Household’s demanding business requirements.

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Student Advantage Does Reverse Split

Boston-based Student Advantage and its shareholders have approved a one-for-ten reverse split of the company’s common stock. The company’s stock will trade under the new ticker symbol “STUA” beginning July 1st. The reverse split reduces the number of shares issues and outstanding common stock from approximately 5.4 million to approximately 540,000 and the number of authorized shares of common stock to 1.0 million.

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Brits Add $1.4 Billion in Card Debt in May

Credit card outstandings in the United Kingdom for May grew at its fastest pace in three years. Net credit card lending increased £823m during May to end the month at £49.5bn, the biggest increase since May 2000. According to the Bank of England, credit card lending only increased £303m during May 2002. Total lending to individuals grew by £8.6 billion or 1.0% in May, seasonally adjusted, just lower than the rise in April. The three-month (annualized) growth rate fell to 13.2% from 13.3% (13.6%) in April. The twelve-month growth rate fell to 13.7% from 13.8% (13.9%) in April.

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IRS Renews OPC Contract

Tier Technologies’ Official Payments Corporation subsidiary has won the first of four optional one-year contract renewals with the Internal Revenue Service. The renewal of the contract, first awarded in April 2002, allows Official Payments to continue to collect and process individual federal income tax payments by credit card through May 31, 2004. Official Payments began processing credit card tax payments for the IRS in 1999.

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Bank One Upgrades Chicago ATMs

Bank One announced plans to invest $20 million this year to improve banking centers and ATMs in the Chicago area. This brings the company’s total announced investment to more than $100 million in Chicago over the next two years. The new investment will go toward renovating Bank One’s 208 Chicagoland branches and replacing 320 ATMs. Bank One also plans to replace it’s total nationwide network of more than 40,000 ATMs. The new machines feature touch screens, full-color graphics, voice prompts and web capability.

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Retail Decisions Launches New Payment Gateway

NJ-based Retail Decisions has launched a new payment gateway that bridges the gap between purchasing licensed software and using a service bureau for online payment processing for card-not-present transactions. The new “ReD1” payment gateway has all the functionality of customized payment processing software, providing real-time and batch authorization, fraud prevention and settlement services for online, call center and IVR transactions for middle to large retailers. “ReD1” offers an interface to payment processors such as Paymentech, Chase Merchant Services, First Data Merchant Services and American Express. Customers also have access to “Level 2” and “Level 3” procurement card processing; “Bill Me Later” payment support; multiple currency settlement conversion; and multiprocessor support. The “ReD1” payment gateway service also uses “ebitGuard”, the company’s multi-dimensional real-time fraud prevention services to help merchants reduce customer insult rates, transaction out-sort rates and charge-backs due to fraudulent CNP payments.

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MAY CARD DEBT

Credit card outstandings for May grew at its fastest pace in three years. Net credit card lending increased £823m during May to end the month at £49.5bn, the biggest increase since May 2000. According to the Bank of England, credit card lending only increased £303m during May 2002. Total lending to individuals grew by £8.6 billion or 1.0% in May, seasonally adjusted, just lower than the rise in April. The three-month (annualized) growth rate fell to 13.2% from 13.3% (13.6%) in April. The twelve-month growth rate fell to 13.7% from 13.8% (13.9%) in April.

Secured lending outstanding grew by £6.9 billion or 1.0% in May, seasonally adjusted, £0.4 billion lower than the rise in April. The three-month (annualized) growth rate fell to 13.1% from 13.4% (13.7%) in April.

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Business Bank of Nevada Enters Merchant Services

Business Bank of Nevada is partnering with the Eliot Management Group to deliver low-cost credit card processing, check services, gift cards, and ATMs to its customers and businesses throughout Nevada. The partnership gives EMG access to the Bank’s current and future clients who will be invited to enroll for credit card processing, check verification, check guarantee, check representment, gift card and ATM services. EMG will provide customers with competitive rates and fees, credit card processing services, discounts for credit card equipment, and local on-demand service. Merchants served by EMG currently process over $1 billion annually in credit card transactions, one of the top merchant portfolios in the country.

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