San Diego-based Apunix, a developer of kiosk application software has signed a relationship agreement with Wincor Nixdorf to market kiosk and self-service solutions to the North American retail and hospitality industries. The platform-independent design of Apunix’s award-winning kiosk software allows for easy deployment on any of Wincor’s open-architecture kiosk and BEETLE POS system products. This flexibility provides retailers with highly-configurable solutions that can be adapted to suit any retail touch point, in any operating system environment including Linux and Windows.Details
MBNA reported this morning that charge-offs edged up slightly in May while delinquency continues to decline for the fifth consecutive month. The nation’s second largest bank credit card issuer reported that charge-offs increased to 5.04% in May, compared to 5.02% for April. Delinquency declined to 4.36% in May, from 4.49% for April. MBNA also reported that managed credit card outstandings for the end of May were $95.3 billion, a 2.6% gain since the end of the first quarter. MBNA also holds nearly $14 billion in other consumer loans.
Month Outstandings Charge-offs Delinquency
Jan 03 NA 5.15% 4.85%
Feb 03 NA 5.10% 4.91%
Mar 03 $92.9 b 5.05% 4.62%
Apr 03 $93.9 b 5.02% 4.49%
May 03 $95.3 b 5.04% 4.36%
Source: CardData ([www.carddata.com])
Stockholm-based Comex Electronics AB has, teamed with Oberthur Card Systems and Fingerprint Cards, developed an advanced system for network security based on smart card and finger pattern verification technologies. Comex Electronics has now placed a US$260,000 order with Fingerprint Cards for sensors, processors and algorithms. The smart card reader, developed by Comex Electronics, houses Fingerprint Cards’ biometric sensor and processor chip for reading and extraction of finger pattern data. The smart card is a Java card delivered by Oberthur Card Systems.Details
The Travel Industry Association of America predicts Americans will take over 270 million vacations during June, July and August, an increase of 2.5% from last summer. Air travel will up about 1 percent this summer, auto travel will continue to be stronger than air, up more than 2 percent, while RV travel is likely to remain very strong this summer. Americans expect to stay away an average of 7.9 nights on their longest pleasure trip, down slightly from last year. Travelers continue to watch their pennies, planning to spend an average of $1,055 on their longest pleasure trip this summer, stable from summer 2002 but still down about 9 percent from the $1,172 in 2001.Details
CT-based TransAct Technologies has signed a deal to deploy 6,000 “BANKjet 1500” printers over the next twelve months. TransAct’s BANKjet 1500 offers bank tellers and retailers form and check validation combined with receipt printing capabilities. The patented validation approach includes a pair of sensors that ensure proper form registration and alignment before printing occurs. The printer can validate forms that are fed into the printer in either lengthwise or widthwise orientation, giving the operator an expanded printing area, while cost effectively improving overall transaction time with high-quality, two-color printing on low cost media.Details
VISA has introduced “Travel Wizard”, an interactive budget-planning calculator found on VISA’s “Practical Money Skills for Life” Web site. Practical Money Skills for Life is an online curriculum sponsored by Visa and is free to consumers. It features lesson plans, interactive calculators, and activities for parents, teachers, students, and consumers of all ages. The Travel Wizard calculator walks consumers through the process of preparing a travel budget. Users can enter dollar amounts for meals, hotels, entertainment expenses and more.Details
Cubic Transportation Systems has signed a $6.4 million contract with the Metropolitan Bus Authority for the Commonwealth of Puerto Rico, Department of Transportation and Public Works. Cubic will provide an advanced electronic bus fare collection system for San Juan including a modern computer managed system. The system will consist of modular fareboxes which have been operationally proven in New York City and Vancouver. The fareboxes validate coins and process magnetic fare cards and are configured so that contactless smart card technology can be introduced in the future. Under this same contract, Cubic is also supplying its bus fare collection equipment and technology for a second bus operator, Metro Bus Uno, which is under contract to the MBA. Fare collection data from the 30 buses operated by Metro Bus Uno will be uploaded to the MBA central system as part of the fare collection revenue management process.Details
MD-based I4 Commerce has joined the Ecometry Alliance Network to offer its “Bill Me Later” payment method as a complement to Ecometry “Commerce Suite”. I4 Commerce was invited to join EAN because of the value its solution adds to Ecometry Commerce Suite and the benefits clients will receive as a result of the alliance. Ecometry Corporation developed EAN to provide a framework for synergy between Ecometry and companies with complementary products and services. I4 Commerce provides payment solutions to merchants that make commerce more convenient, secure and profitable.Details
The Financial Supervisory Service says the number of employees employed by credit card firms has dropped 45.6% compared to last year. The total number of card jobs has dropped from 53,169 to 28,901. Kookmin Credit Card Co. made the largest reduction, cutting its workforce by 72% while Woori Credit Card Co. came in second with a 57% cut. KEB, Samsung, and Hyundai Card have cut between 45% and 56% of their respective workforces.
The Korean credit card industry has been hit hard by an economic crisis and losses have been skyrocketing. The Ministry of Finance and Economy, the Financial Supervisory Service, and the Bank of Korea have required credit card companies to reduce operating expenses and boost capital.
First Data has signed a five-year agreement with Banco Popular Dominicano for transaction processing software and support services. The bank will use First Data’s “VisionPLUS” software for accounts receivable and transaction processing for its credit and private label card accounts on file. Under the new agreement, FDC also will provide software management support including maintenance, enhancement, conversion and consulting services. FDC has provided credit card processing services to Banco Popular Dominicano since 1985 for its international credit card portfolio. Banco Popular Dominicano is the largest bank in the Dominican Republic.Details
Dubai Internet City-based Ducont has launched a new wireless technology product that enables cardholders and merchants to receive alert messages over their mobile phones. The “Card Alert” system interfaces with the credit card management system and extends proactive services over SMS. SMS messages may be sent for transactions processed, due dates for payments, promotional schemes, limits touching specified lower amounts and a lot more. Last week, the company signed a contract with a major UAE bank which will soon offer the service.Details
The American Bankers Association today launched its first technology spending study in more than ten years. The survey was mailed this week to more than 1,000 banks from a broad- range of asset sizes, culled from both the ABA membership roster and the TowerGroup banking client base. Over the next month, ABA and TowerGroup will be reaching out to these institutions to encourage participation in this important benchmarking opportunity. TowerGroup and the ABA expect the survey to be completed by early July, with results available to participating institutions by early Fall 2003.Details