WMATA & ERG

ERG Transit Systems, Inc., a global leader in smart card-based transit fare collection and management systems, along with Northrop Grumman Information Technology, has been selected by the Washington Metropolitan Area Transit Authority (WMATA) to install and operate a new Regional Customer Service Center for its smart card-based fare collection system, known as SmarTrip. The project involves the establishment and operation of a smart card customer service center, card management and the clearing and settling of smart card transactions across 17 transit agencies in Northern Virginia, Maryland and the Washington DC area. The new system will interface with existing installed hardware such as gates and readers. WMATA has managed the tender and evaluation process on behalf of the participating transit agencies.

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NPC & Dollar Tree

National Processing Company, a leading provider of merchant credit and debit card processing and a wholly owned subsidiary of National Processing, Inc., announced the signing of a multi-year credit and debit card processing agreement with Dollar Tree Stores, Inc. Dollar Tree Stores, Inc. is the nation’s leading $1.00 discount variety store chain, offering a vast variety of products including housewares, seasonal goods, food, toys, party goods, personal accessories, books, candles and more.

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MC & Pizza Hut

MasterCard and Pizza Hut have teamed to offer the “Get the Gold: sweepstakes. The contest offers consumers a chance to take home the grand prize of $25,000 in gold coins or a first prize of a $10,000 “MasterCard Gift Card.” Customers will be automatically entered for a chance to win every time they use a MasterCard card to purchase a “Stuffed Crust GOLD Pizza” or any other Pizza Hut pizza between “Super Bowl Sunday,” January 26, and March 9. The winners will be selected on or about March 31st. Pizza Hut has 7,000 locations in the USA. This is one of the first promotions Pizza Hut has done with MasterCard.

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ICICI Bank Enters Canadian Market with New Banking Subsidiary

Infineon Technologies reported revenues for the quarter ending December 31st of Euro 1.52 billion, an increase of 47% year-on-year. The revenue increase was mainly driven by higher demand for memory products and semiconductors used in mobile phones. Effective November 1, 2002, Infineon merged its Wireless Solutions and Security and Chip Card ICs groups into a single group called Secure Mobile Solutions. Infineon believes that combining the operations of the two groups will enable it to better address the continuing convergence of the markets for security and mobile applications, for example in future generations of mobile phones. Revenues for Secure Mobile Solutions for the quarter were Euro 412 million, up 11% from the previous quarter and up 44% compared to the same quarter of last year. The revenues increase was mainly driven by the stronger Christmas business for mobile phones. It also included the full quarter revenues from Ericsson Microelectronics, acquired in September 2002. EBIT amounted to a loss of Euro 28 million, compared to a loss of Euro 22 million in the previous quarter but improved from a loss of Euro 60 million year-on-year. The quarterly loss was mainly due to lower sales volumes and strong pricing pressure for chip card ICs, as well as integration costs and operating losses totaling Euro 34 million for the acquired Ericsson Microelectronics business.

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3 Bureau Report w/FICO

Fair, Isaac and Company, Incorporated introduced the first consumer online product to combine credit reports from all three major U.S. credit reporting agencies with the industry-standard FICO credit score calculated from TransUnion data and Fair, Isaac’s personalized score explanation. Consumers can use the 3 Bureau Report with FICO Score to achieve several goals. They can assess their true credit potential the same way lenders do, learn the best ways they can improve that potential over time, verify the accuracy of their credit report from every major credit reporting agency, and check for credit fraud or identity theft.

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Payment and Back Office Service Provider, Netgiro, Meets VISA AIS Standards

Dublin-based Trintech Group said that London’s newest luxury hotel has implemented its “PayWare Merchant.” The new London Marriott Hotel Park, which opened in November, is the new flagship hotel of the global hospitality company. The Trintech solution has been specifically designed to offer a fast customer payment experience that can handle multiple payment types from multiple locations, including the Internet and call centers. “PayWare Merchant” provides London Marriott with a fully automated solution that can handle multiple payment types, including a seamless migration to smart cards and PIN-based cards.

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Mini Check Card

Bank of America announced yesterday it has expanded the mini card program to its “Check Card.” BofA, the largest issuer of “VISA Check Cards”, is the first financial institution to offer a mini card linked to a customer’s checking account. Initially launched to credit card customers in October, the BofA mini card is about half the size of a regular “Check Card,” and is designed to be attached to a key chain. The card can only be used with swipe terminals, not ATMs. Bank of America has more than 17 million “Check Card” holders. By the end of this year, the company says it will have issued mini cards to more than 11 million BofA customers. BofA also holds the patent for the new mini card. Following the first year, under a license from Bank of America, VISA member banks will be permitted to issue VISA-branded mini cards, for which Bank of America will receive royalty payments. (CF Library 10/2/02)

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BBS to Deploy STMicroelectronics’ Proton Prisma Smart Card System Software

Vodafone and LogicaCMG have teamed to launch Vodafone’s m-pay cards service which enables Vodafone’s UK customers to use a phone card to purchase theatre tickets, books, CDs, etc. without the need to enter credit card details every time. The first retailers to participate in the mobile wallet program are customers of WorldPay, the electronics payment specialist owned by Royal Bank of Scotland Group. Logica’s integration with WorldPay will potentially enable more than 20,000 Web merchants to use the Vodafone m-pay cards service. LogicaCMG also assisted Vodafone in integrating Digital Rum, a WAP Merchant
Aggregator. To register for the m-pay cards service, customers simply access Vodafone m-pay on the vodafone.co.uk web site, and enter their credit/debit card number and address details these are verified by unique software integrated, customized and implemented by LogicaCMG.

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SCA Speakers

Speakers from leading technology companies, government agencies and industry research firms will address technology and policy considerations for protecting identity at the Smart Card Alliance February Mid-Winter Conference to be held in Salt Lake City, Utah from February 12 ­ 13, 2003. The Smart Card Alliance is a not-for-profit, multi-industry association of member firms working to accelerate the widespread acceptance of multiple applications for smart card technology. Through specific projects such as education programs, market research, advocacy, industry relations and open forums, the Alliance keeps its members connected to industry leaders and innovative thought.

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Chase 4Q/02

J. P. Morgan Chase reported this morning that its credit card outstandings were flat compared to the third quarter, but 23% higher than 4Q/01 due to its acquisition of $8.2 billion in Providian outstandings last year. Charge-offs were also higher than the previous quarter and year-ago quarter, due primarily to the inclusion of the Providian portfolio. Gross dollar volume of $21.2 billion for 4Q/02 was down 8% compared to 3Q/02 but up 4% over 4Q/01’s $20.3 billion. Outstandings at EOY 2002 were $51.1 billion compared to $41.6 billion at EOY 2001. On a managed basis, the credit card net charge-off ratio was 5.75% for the fourth quarter, compared to 5.59% for the third quarter, and 5.56% for the fourth quarter of 2001. The 30+ day delinquency rate was 4.67%, up 20 basis points from 3Q/02 but down 10 basis points from 4Q/01. For the fourth quarter, Chase added 600,000 net new accounts, ending 2002 with 29.2 million gross credit card accounts. One year ago Chase announced its purchase of a slice of the Providian portfolio which included $7.0 billion in “Platinum” accounts and $1.2 billion in “Classic” accounts. For complete details on Chase’s 4Q/02 performance, plus prior results, visit CardData ([www.carddata.com][1]). (CF Library 1/16/02)

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

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Wells Fargo 4Q/02

Wells Fargo reported yesterday its fourth quarter outstandings were up 5.0% compared to the previous quarter, and up 6.7% compared to 4Q/01. Credit card volume increased by 9.0% to $3.5 billion, compared to $3.2 billion one year ago. Wells active account ratio was 59.2% at EOY 2002. For the fourth quarter Wells added more than 28,000 net new accounts. At the end of 2002, Wells had 5.3 million gross accounts and 6.9 million cards-in-force. For complete details on Wells Fargo’s 4Q/02 performance, plus past performance, visit CardData ([www.carddata.com][1]).

WELLS FARGO PORTFOLIO SNAPSHOT
4Q/02 4Q/01 CHANGE
OUT: $5,672,931,433 $5,317,074,186 +6.7%
Q/VOL: $3,475,663,433 $3,189,876,838 +9.0%
ACCTS: 5,326,341 5,209,428 +2.2%
ACTIVES: 3,153,681 3,044,835 +3.6%
CARDS: 6,912,602 6,767,490 +2.2%
Source: CardData (www.carddata.com)

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

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