Wincor Nixdorf Inc., the global leader in open system solutions for the retail and banking industries, announced that the company has joined forces with Retalix Ltd, a leading provider of point-of-sale and fuel applications to the retail industry. The relationship between the two companies demonstrates their commitment to empowering retailers with innovative, customer-driven technology solutions.Details
Gearing up for 2008 Olympics, the Industrial & Commercial Bank of China, Agricultural Bank of China and China Construction Bank have upgraded more than 1,300 ATMs in Beijing to accept international bank cards since the start of this year. According to this week’s issue of The RAM Report ([www.ramreport.com]), the newly-configured ATMs brings China’s total number of bank machines capable of accepting international bank cards to more than 8,000. Less than 50,000 of the 300,000 POS terminals in China accept overseas-issued bank cards.
First American Payment Systems, L.P., one of the fastest growing merchant credit card processing acquirers, announced it has partnered with Lindsay Goldberg & Bessemer L.P. of New York to secure significant private equity funding. The partnership will support First American’s strategic initiatives for growth.Details
KY-based National Processing reported that revenue for the first quarter declined 4% to $106.0 million and that net income dropped 29% to $8.5 million. NPC says the quarter was affected by re-pricings in the national merchant sector, weak consumer spending, higher expense levels due to some recent investments in its business, and the company’s decision to exit merchant processing for the airlines. However, Merchant Card Services transactions processed were 952 million for the first quarter of 2003, representing an increase of 8% over the first quarter of 2002. Merchant Card Services dollar volume processed was $39.5 billion for 1Q/03, representing an increase of 1% over the 1Q/02. NPC also revised its full year revenue estimate to $420-$440 million. The company says weakness in consumer spending and current economic uncertainties are to blame. For complete details on NPC’s first quarter results visit CardData ([www.carddata.com]).
Q Comm International Inc., a business services company focusing in the electronic distribution of prepaid wireless airtime and other prepaid services, announced that its Qxpress 200 POSA (point-of-sale activation) terminals are now able to process payments for Sprint PCS Clear Pay services.Details
The FTC announced yesterday that defendants in its “Operation Protection Deception” have agreed to pay more than $131,000 for consumer redress. In addition, the defendants, who allegedly either tricked consumers into buying worthless credit card protection or debt-consolidation services or charged them without their authorization, will be subject to strict injunctive provisions in the future, including the requirement that they post a $50,000 performance bond before engaging in any telemarketing activities. The defendants included Forum Marketing Services and QualyCon.Details
Providian reported Wednesday that its charge-off rate among its securitizations increased to 19.89% for March, compared to 18.23% for February, and compared to 19.38% for January. However, the loss rate on reported card loans declined from 16.00% in February to 15.91% in March. Delinquency (30+ days) for its securitizations logged in at 12.46% for March compared to 12.89% for February, and 13.26% for January. Reported delinquency declined from 9.59% in February to 8.76% in March. Providian is scheduled to release its first quarter financial results on April 24th after the close of the market. Providian ended the 2002 with $20.0 billion in total managed credit card loans and 12.0 million accounts, according to updated information furnished to CardData ([www.carddata.com]).
Digital Insight Corp. announced that it has renewed its strategic alliance with the Bank Core Systems group of Harland Financial Solutions, a subsidiary of John Harland Company. Per the agreement, Harland Financial Solutions will promote and market Digital Insight AXIS products.Details
Citibank and MyPoints.com have teamed to launch a co-branded, rewards MasterCard. The new “Citi MyPoints Rewards Platinum Select MasterCard” will be marketed to ten million members of MyPoints “True Opt-in” database. Besides earning points for every purchase made on the card, cardholders can also accumulate additional points when shopping online at MyPoints.com, visiting affiliated Web sites, reading emails and filling out surveys. Under the program cardholders earn one point for every $2 spent, both online and offline. The maximum number of points cardholders can earn is 15,000 per credit card account, per calendar year.Details
Dresdner Bank AG has signed a five-year processing contract with First Data Corp.
First Data has been providing processing services for Dresdner since 1999. Under the terms of the agreement, First Data will continue to deliver full consumer credit card
processing for Dresdner’s customers in Germany. First Data has been active in Europe for
more than 10 years.
TSYS reported that first quarter profits increased 15.9% to $31.7 million and that revenue increased 10.3% to $251.4 million. Electronic payment processing revenues were $167.8 million, an increase of 17.2%, compared to $143.2 million in the same period last year. TSYS noted yesterday that it has significant termination provisions embedded within its processing agreement with Sears, in the event Sears sells its credit card portfolios. TSYS says Sears represents less than 10% of TSYS revenues. During the first quarter, TSYS converted 5 million CIBC accounts and 750,000 Barclaycard account portfolios.TSYS reaffirmed Tuesday that it expects its 2003 net income to exceed its 2002 net income by 12-15%. For complete details on TSYS’ first quarter performance visit CardData ([www.carddata.com]).
Banque Martin Maurel has selected EDS to implement a comprehensive CRM system. EDS is providing the system through its Answare S.A. subsidiary. EDS also signed a contract with
PMU, the French state-controlled horse racing betting agency, to operate its betting network throughout metropolitan France. EDS will provide exclusive on-site maintenance of the approximate 13,000 betting terminals owned by PMU in 8,000 points of sale. Additionally, EDS signed a six-year agreement with Wanadoo, France Telecom’s Internet division, for a customer relationship management system.