JCB CHIEF

Tokyo-based JCB has named Hiroya Nobuhara, former President and CEO of UFJ Card, as President and CEO. He succeeds Isao Nakanishi who has served as JCB’s President and CEO for the past 5 years. Nakanishi also served as Chairman of the Japan Credit Card Association from 2002-2003. Nakanishi will continue with the company as special advisor. JCB International also named Nobuhara Chairman and CEO. Additionally, JCBI named Kunio Yoshizawa, formerly Deputy President, as President and COO, succeeding Atsushi Niimura who is retiring after 15 years with JCB. JCB’s merchant network includes 10.43 million merchants. The company has 42 million cardholders in 18 countries.

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EMV CARDS

VISA Canada announced it is gearing up to migrate to EMV smart cards. Chip cards have been in use in Canada for a number of years, particularly in telephone cards used in payphones. All VISA cards in France have been equipped with chip technology since 1992. Approximately 60 million VISA EMV smart cards are in use around the world. There are major conversion programs underway in Europe and Asia. VISA Canada says that one significant improvement for the consumer will be the use of a PIN at the point of sale rather than a signature. In a survey conducted in January, 61% of Canadians said they would prefer entering a PIN at the point of sale.

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CU WEALTHVIEW

Vancouver-based Envision Credit Union has completed its implementation of Fincentric’s “Wealthview Banking” system. Working with TELUS and Fincentric, Envision now has just over 100,000 members using the new system. TELUS provided systems integration and IT consulting services for Envision’s implementation and conversion onto the “Wealthview Banking” system and continues to provide a complete suite of banking system management services ranging from ongoing systems integration and consulting services, application management and enhancement services, systems operation and technology management, and telecommunication network provisioning and management.
“Wealthview Banking” is a complete front-to-back office banking system for financial institutions, offering comprehensive applications for deposits, payments, and consumer lending. “Wealthview Banking” features capabilities and integration across multiple delivery channels, including Internet banking.

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NOVA Adds 400 Jobs in Knoxville

NOVA Information Systems is expanding its operations in Knoxville, TN on July 1st that will eventually add 400 new jobs. A new 60,000 square foot facility that will be in addition to the two existing NOVA facilities on Chapman Highway which employees more than 900 employees. The three facilities will occupy space totaling more than 200,000 square feet once the project is complete.

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MONEY-SEND

MasterCard International has launched the first phase of a new person-to-person funds transfer service in Europe. “MasterCard MoneySend” can be used for both overseas and domestic transfers, complies with anti-money laundering regulations, and leverages MasterCard’s “Maestro” online POS debit network. The Royal Bank of Scotland Group in the UK, Euro Kartensysteme in Germany, and CartaSi in Italy, have teamed with MasterCard to conduct the first phase of the European roll-out of the service. The European program is a hosting service, which will be run by MasterCard with program partners Magex and paybox. MasterCard says that “MoneySend” has the potential to be integrated into a bank’s electronic channels and might be expanded to a global level. There are 226 million “Maestro” cardholders in Europe and another 240 million worldwide.

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Eracom is smart VISA Ready

Eracom’s “ProtectServer Orange,” a FIPS 140 certified PCI cryptographic adapter, has achieved the status of “smart VISA Ready” as host security module encryption hardware. The smart Visa program is a Visa initiative to provide its member institutions with necessary tools to build next-generation secure infrastructure. Eracom’s ProtectServer Orange has qualified as a hardware security module to provide cryptographic operations for strong symmetric key authentication, protection of password and user credentials as well as certificate management. Eracom Technologies is a leading developer and global supplier of cryptographic-based hardware and software products for uncompromising IT security applications.

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Intelli-Check & CardCom Settle

NY-based Intelli-Check has settled a lawsuit with CardCom over patent infringement and has granted to CardCom a three-year patent license allowing it to use certain of Intelli-Check’s patents in connection with the manufacture, use and sale of Cardcom’s age verification products. Under terms of the settlement, Intelli-Check has granted to CardCom a three-year patent license allowing it to use certain of Intelli-Check’s patents in connection with the manufacture, use and sale of Cardcom’s age verification products in the United States and Canada. It also provides that CardCom will pay royalties on its net sales pertaining thereto. Under terms of the agreement, CardCom has agreed to cease all advertisements that state or imply that its products provide documentation authentication or verification.

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NPC Cozies Up with ISOs

National Processing Company has expanded its partnership with ISOs and as such has sold its non-bank aligned regional sales offices to three key ISOs. This month, NPC sold 14 regional sales offices to three ISO partners including DiamondCard of Rancho Cucamonga, California, Security Check, of Oxford, Mississippi and Universal Debit & Credit of Annadale, Virginia. The remaining NPC regional sales offices are located within the six state footprint of National City which owns 85% of National Processing.

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FCRA Sunset Gets Support from MasterCard

MasterCard yesterday said in testimony before a congressional subcommittee that Congress should make permanent the national uniform standards for how consumer credit information is reported because it has proven to be a key component to combating identity theft. MasterCard says it takes its obligations under FCRA very seriously. The network has launched the “Issuers Clearinghouse Service” database; uses CVC2 and AVS plus has “MasterCard SecureCode”; “MasterCard Site Data Protection Service”; “RiskFinder”; and, SAFE.

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Charming Says Credit Card Trusts are Okay

PA-based Charming Shoppes says that questions over its credit card securitizations have not effect on its corporate debt rating. Moody’s Investor Service issued a press release this week indicating that it was seeking additional information regarding servicing procedures and reports pertaining to the credit card trust. Moody’s placed the securities issued by the trust on “Watch” for possible downgrade. Charming says the operating and servicing errors cited by Moody’s resulted primarily from a transfer from one credit card processor to another in 2002, and that these errors have been substantially corrected. Charming Shoppes is the largest plus-size specialty apparel retailer in America, with over 2,200 stores nationwide.

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Cardholders Online — an Emerging Factor

A new study suggests that credit card-issuing institutions not equipped to meet the online needs of its cardholders are facing an imminent risk of losing many of their strongest customers. The research also shows that 57% of all adult credit cardholders who use the Internet now manage one or more aspects of their credit card accounts online and that many of these cardholders have only started to manage their accounts online in the past 12 months. The findings come from a recent “Online Consumer Credit Card Survey” commissioned by TSYS. Other key findings: 54% of Internet cardholders have shopped for a credit card on the Internet, and nearly one-half have applied for a card online; cardholders who use the Internet to manage their card accounts online make up two-thirds of cardholders using the most cards (four or more) and of cardholders who use their cards the most (11 or more times per month); and, that cardholders who manage their accounts online are younger, better educated and have higher incomes than Internet-using cardholders who don’t manage online.

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VISA Canada Set to Move to Smart Cards

VISA Canada announced yesterday it is gearing up to migrate to EMV smart cards. Chip cards have been in use in Canada for a number of years, particularly in telephone cards used in payphones. All VISA cards in France have been equipped with chip technology since 1992. Approximately 60 million VISA EMV smart cards are in use around the world. There are major conversion programs underway in Europe and Asia. VISA Canada says that one significant improvement for the consumer will be the use of a PIN at the point of sale rather than a signature. In a survey conducted in January, 61% of Canadians said they would prefer entering a PIN at the point of sale.

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