American Express and Air Canada Deal Gets Finalized, Finally

GZS Gesellschaft für Zahlungssysteme have announced an upgrade for crediting air time to prepaid cards of Vodafone. The “Cash & Go” upgrade allows GZS’s contractual partners to load the cellular phones of the subscribers of Germany’s two largest mobile network operators. Together, T-Mobile and Vodafone have approximately 23 million mobile users and a market share of about 80%. GZS is announcing a special offer for its business partners to coincide with the launch of the new Vodafone product.

Details

VISA POS Check Services

TouchNet Information Systems has joined with Electronic Clearing House to introduce the “VISA POS Check Service” program to its customers in the higher education market. he new service will significantly help TouchNet customers reduce risk and processing costs associated with accepting checks by utilizing Visa’s real-time authorization network, VisaNet. Other existing check acceptance systems typically rely on a variety of historical databases or negative files to electronically process check transactions. Using TouchNet solutions, checks accepted via the Internet and/or at the point of sale can be immediately converted into electronic items.

Details

DATAWIRE CHAIRMAN

Toronto-based Datawire Communication Networks has named James Meenan to
the position of Chairman of the Board of Directors. Following a 30-year
career with AT&T in the USA in various executive, financial and operating
roles, Meenan successfully established AT&T’s presence in Canada in 1995 as
President and CEO and served in this capacity until 2000. He continues to
serve on the Board of Directors of AT&T Canada and as Chairman of Castek, a
rapidly growing enterprise software company based in Toronto serving the
property and casualty insurance industry. Datawire Communication Networks
offers the “VXN,” an Internet-based Transaction Delivery Network.

Details

Fair, Isaac 4Q/02

Fair, Isaac yesterday reported revenues of $146.7 million for the quarter ending December 31st, compared to $85.1 million one year ago, a 73% increase. It was the first full quarter to reflect the merger with HNC Software. Net income for the quarter was $19.8 million, a 46% increase over the same period one year ago. Results for the quarter included $2.0 million in merger-related charges resulting from the August 2002 HNC Software acquisition. According to The RAM Report ([www.ramreport.com][1]), VISA International European Union has signed a deal to offer Fair, Isaac’s “Falcon Fraud Manager Version 5” and “Fraud Predictor with Merchant Profiles” solutions to all VISA members in 26 European countries, reaching potentially 208 million payment cardholders. Fair, Issac’s stock continues to trade near its 52-week high of $46.33 per share. For complete details on Fair Isaac’s latest earnings reports and past performance visit CardData ([www.carddata.com][2]).

[1]: http://www.ramreport.com
[2]: http://www.carddata.com

Details

RETAIL SALES

The new Sitebank A.S. has signed a contract for Euronet Worldwide’s ATM
and debit card management software. Sitebank is a new financial institution
set to open in Istanbul in May with the backing of Banco Comercial
Portugues. Euronet “ATM Management” allows Sitebank to control its ATM
network in real time with ATM driving, ATM monitoring and reporting.
Euronet “Debit Card Management” enables Sitebank to deploy and manage debit
cards and to provide customer assistance, online transaction authorization
and offline posting.

Details

WIRELESS ATMS

Ottawa-based Precidia Technologies has joined TELUS Mobility’s “Data
Alliance Partner Program” to provide a new wireless IP solution to the
Canadian ATM industry. Monthly communications fees can be significantly
reduced by using Precidia’s “CellDial” in conjunction with TELUS Mobility’s
“always-on” digital “Mike” network. Additional savings are realized by
eliminating telephone installation and administration costs.
According to Interac and the Canadian Banking Association, there are
currently over 20,000 “white label” or generic ATMs in Canada. Precidia
says many of these ATM operators are looking to decrease the costs
associated with machine deployment. The new Precidia/TELUS ATM wireless
solution is available now across Canada.

Details

CardData 4Q/02

More evidence has emerged that 2002 was a very sluggish year for growth in credit card outstandings and dollar volume. Based on a sampling of top issuers and mid-level issuers, outstandings grew 5.4% last year while dollar volume edged up 3.2%. However, profits continue to be strong due to the lower cost-of-funds and improving credit quality. First National Bank of Nebraska and BB&T posted solid gains while Household and FleetBoston reported modest portfolio growth, according to CardData’s 4Q/02 portfolio data. Earlier this week, Citigroup reported a 6% increase in outstandings for 2002, and Wells Fargo posted a 6.7% gain in outstandings last year. For complete details on the latest 4Q/02 information on the nation’s top issuers visit CardData ([www.carddata.com][1]).

4Q/02 OUT 4Q/01 OUT CHNG 4Q/02 VOL 4Q/01 VOL CHNG
Household $16,984,702,000 $16,101,954,000 +5.5% $10,087,783,000 $ 9,631,188,000 +4.7%
FleetBoston $16,151,000,000 $15,644,000,000 +3.2% $ 6,818,000,000 $ 6,799,000,000 +0.3%
First Natl NE $ 4,303,320,013 $ 3,822,869,273 +12.6% $ 1,680,080,000 $ 1,520,043,000 +10.5%
BB&T $ 880,272,000 $ 780,479,000 +12.8% $ 517,253,746 $ 462,954,000 +11.7%
SouthTrust $ 349,563,531 $ 324,093,455 +7.9% $ 166,605,418 $ 156,829,237 +6.2%
TOTAL $38,668,165,000 $36,673,395,000 +5.4% $19,269,722,000 $18,670,014,000 +3.2%
Source: CardData (www.carddata.com)

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

Details

KEB Suspends Cash Advances as LG Card Bidding is Underway

VISA International European Union has inked a contract to offer Fair,
Isaac’s next-generation fraud management technology to all VISA members in
26 European countries. VISA EU will offer Fair, Isaac’s
“Falcon Fraud Manager” and “Fraud Predictor with Merchant Profiles”
solutions. “Falcon” and “Fraud Predictor” offers a leap in fraud detection
through the Falcon patented neural network technology and cardholder
account information, leveraging “Fraud Predictor’s” merchant-specific data
and patented profiling technology to better identify multiple types of
payment card fraud. The VISA EU solution will be deployed utilizing the
newly released “Falcon Fraud Manager Version 5” technology architecture,
which now provides a thin-client Graphical User Interface. VISA EU members
manage more than 208 million payment cardholders.

Details

Metris Downsizes

Sub-prime credit card specialist Metris Companies/Direct Merchants Credit Card Bank confirmed Wednesday it is reducing its workforce by approximately 180 employees, including 25% of the company’s senior management team. The cutbacks follow by one month the firing of Ronald Zebeck, former chairman and CEO of Metris. The new CEO and chairman David Wesselink said the staff reductions will save the company approximately $20.8 million annually. However, Metris will take a 1Q/03 charge of $4.9 million. More than half of the positions being eliminated are at the company’s Minnetonka headquarters. Zebeck was sacked last month as charge-offs continued to soar in the face of the collapse of the sub-prime market. For the third quarter, Metris reported a net loss of $1.3 million following a second quarter loss of $36.4 million. The managed net charge-off rate was 15.1% for the third quarter, compared to 10.7% for 3Q/01. The company will release its fourth quarter earnings next Wednesday, January 29. Metris’ stock closed yesterday at $1.75 per share, down 9%. One year ago, Metris was trading around $28 per share. For complete details on Metris’ latest financials visit CardData ([www.carddata.com][1]). (CF Library 12/16/02)

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

Details

Tupperware Representatives to have Mobile Card Services via CreditPipe

Bank of Queensland Limited and EDS have selected Fiserv to provide a new
core banking system. The multi-million-dollar agreement is part of BOQ’s
10-year services outsourcing arrangement with EDS that includes
transforming the bank’s IT systems. The decision followed an extensive
assessment process involving a review of the bank’s operations and testing
of the Fiserv solution by a combined Bank of Queensland-EDS-Fiserv team.
Services will be provided through the Fiserv CBS Worldwide business unit.
The Fiserv solution for Bank of Queensland includes “International
Comprehensive Banking System” for core retail banking and Alliant Branch
Teller for teller and branch functions.

Details

Concord & Cyota

Concord EFS has selected Cyota’s “SecureSuite” platform to provide “MasterCard SecureCode” and “Verified by VISA” to its 6,200 financial institution clients. MasterCard SecureCode, which utilizes MasterCard’s Universal Cardholder Authentication Field (UCAF(TM)), and Verified by Visa are the new authentication initiatives designed to provide Internet shoppers with a virtual receipt to sign at the point of purchase, thus reducing online fraud.

Details