MBNA has signed an affinity card deal with Media Arts Group to issue the Thomas Kinkade, “Painter of Light” credit card. The credit card will offer cardholders reduced membership fees toward the Thomas Kinkade Collector’s Society, opportunities to purchase special Thomas Kinkade paintings, and other special benefits through participating Thomas Kinkade Signature Galleries nationwide. Each year, Media Arts Group will select one or more charities to receive a portion of the royalties from the credit card program. During the first year of the program, Media Arts Group has selected The Salvation Army to receive the donation.Details
Diebold reported record second quarter net income of $39.8 million on revenue of $483.5 million. This compares to 2Q/01 net income of $27.8 million on revenue of $423.6 million. Significant orders for the quarter included ATM orders totaling more than $15 million from three U.S. financial institutions, a $15 million order for equipment and service from China Construction Bank, a $6 million order from six financial institutions throughout the Middle East, an upgrade order of nearly $5 million from a large financial institution in South Africa, a $3+ million from two financial institutions in Thailand, an order of $1.8 million for cash dispensers from a financial institution in Australia, and, service contracts valued at more than $1 million from several financial institutions in France. Diebold says that excluding voting revenue, third quarter revenue will increase in the high single digit range. For complete details on Diebold’s 2Q/02 results visit CardData ([www.carddata.com]).
Western Union Financial Services has signed a multi-year agreement with Phillips 66 Company to provide money transfer services in up to 2,600 Circle K and Phillips 66 locations. The addition of Circle K, one of the largest convenience store chains in North America, and Phillips 66, a premier chain of service stations, will expand the availability of Western Union’s services throughout the United States.Details
Toronto-based Moneris Solutions reported this week it has processed more than two billion payment transactions since the company was formed. Moneris was established in December 2000 by combining the merchant card processing operations of RBC Financial Group and BMO Financial Group. Moneris became the first processor in Canada to offer merchant processing of MasterCard, VISA and debit transactions. Moneris serves more than 300,000 North American customers and has a staff of over 1,000 employees.Details
Certegy reported second quarter net income of $22.9 million on revenue of $255.4 million. Card Services generated revenue of $172.5 million in the second quarter, an increase of $15.3 million, or 9.7%, over 2Q/01. Revenue growth was driven by a 21.4% increase in international card issuing, a 16.1% increase in merchant processing and a 5.6% increase in domestic card issuing revenues. Card Services’ operating income grew to $31.1 million, 5.8% over second quarter 2001 pro forma results. Certegy also noted that it added 807,000 cards globally during the quarter, increasing its global card base to 44.0 million and its international card base to 22.0 million. The Check Services segment generated revenue of $82.9 million in the second quarter, an increase of $12.4 million, or 17.6%, over the second quarter of 2001. For complete details on Certegy’s 2Q/02 results visit CardData ([www.carddata.com]).
Mumbai-based Tata Infotech Limited has signed an agreement with Diebold to manufacture ATMs in India for distribution in south/southeast Asia. As the products are localized, various components and raw materials are expected to be sourced from suppliers throughout India. The agreement allows Diebold to speed-up its deliveries to Indian financial institutions. The ATMs are part of the standard Diebold product
offering and will be built according to Diebold’s global design and quality specifications at Tata Infotech’s manufacturing facility in Goa.
CO-based CPI Card Group is manufacturing and now offering a $0.99 single application VISA smart card for card issuers which uses chips from ST Microelectronics. Together these companies are offering a Visa Smart Debit / Credit “VSDC” card delivered for an extremely affordable price through Visa’s low cost smart card program.Details
Geneva-based STMicroelectronics reported second quarter net revenues of $1.5 billion, a 13% increase from the 2002 first quarter, and just modestly below the $1,587.2 million of last year’s second quarter. Gross profit was $575.8 million, a 27.4% sequential increase from the prior quarter’s $452.0 million. Four out of the five market segments achieved double-digit sequential revenue growth in the second quarter. The “Industrial & Other” segment , which includes smart cards, increased 22.2%. During the second quarter STM sampled to leading wireless manufacturers a 64Mbit Flash memory with a dedicated Multi-banking architecture processed in 0.15-micron technology. Continuing the trend towards vertical package integration, ST completed the development of its first 4-stack multi-memory product holding 2 Flash, 1 SRAM and 1 Pseudo RAM memory.Details
The consortium of ACI Worldwide, Diebold, Thales e-Security, and VeriFone yesterday announced the publication of a draft security specification proposing the first global interoperable method for triple DES session key management. The increasing sophistication and power of mainstream computing equipment shortens the useful life of the current single DES key management systems and requires the industry to proactively address the need for security upgrades.Details
WA-based InfoSpace, a provider of wireless and Internet software and application services, reported Tuesday that its Merchant Services unit processed more than 20 million transactions, accounting for more than $1.5 billion in total dollar volume during the second quarter. InfoSpace’s channel for selling merchant services has grown to include more than 1,200 resellers. Overall 2Q/02 revenues were $33.5 million with a net loss of $13.5 million. Merchant Services accounted for 38% of total revenue, up from 36% in the first quarter. During the quarter, more than 10,000 new merchant accounts were established. Notable merchants added during the quarter included Seattle’s Best Coffee, Cleveland Indians Baseball Company and the Nature Conservancy Catalog. For complete details on InfoSpace’s 2Q/02 results visit CardData ([www.carddata.com]).
FL-based GPM Associates released the Government Buyers Credit Cards database which provides access to 300,000 active government buyers who make purchases with credit cards with no approval process. This verified, transactional data is valuable for all aspects of Database Marketing, Direct Marketing, Telemarketing, E-Commerce, Competitive Analysis and Market Research.Details
China Construction Bank has begun levying a 2 yuan transaction fee for customers using an ATM belonging to another bank. This is the first time a Chinese bank has levied such fees which are not sanctioned by the China’s central bank. Furthermore, the People’s Bank of China and the State Development Planning Commission recently banned all bank fees pending further review. The central bank and the ministry which regulates prices are now developing detailed rules on service charges. The new ATM fees by CCB went into effect this week and currently apply only to Beijing customers. The PBC and SDPC rules do not apply to foreign banks operating in China.Details