MasterCard International and Datacard Group have signed a multi-year strategic alliance to support the deployment and management of smart card programs by MasterCard members including smart card security consulting services, training and education programs. The multi-year agreement will provide MasterCardâs members with Datacardâs solutions for developing, testing, personalizing and managing smart cards. The solutions are specifically designed to simplify the migration from traditional magnetic stripe cards to smart cards by creating and collecting new smart card data and personalizing the data needed on the chip.Details
Budapest-based Vodafone Hungary announced the deployment of Euronet ATM Recharge, which enables Vodafone subscribers to purchase prepaid airtime at 371 Euronet-branded ATMs throughout Hungary.
Hungary has more than 5 million mobile phone subscribers with approximately 78% as a prepaid market. Euronet Worldwide provides this service to all three GSM mobile operators in Hungary including Pannon GSM and Westel. Euronet also enables customers of all three mobile operators in Poland including Plus GSM, ERA GSM, and Centertel, to recharge their airtime at Euronet ATMs. Electronic recharge service is also available via POS terminals and directly from the mobile phone. This service is live for mobile operator customers in the Czech Republic, Poland, Croatia, Curacao and Indonesia.
The National Consumers League launched a new Web campaign this morning to fight identity theft thanks to an unrestricted educational grant from Bank of America. The new “Invasion of the ID Snatchers” Web pages present common scenarios of how thieves steal personal information and what they can do with it, tips for consumers on how to avoid ID theft, and information on how to report the crime. It also provides tips for businesses on how to secure the personal information they collect from consumers. NCL says Bank of America found itself a victim of ID fraud earlier this year when consumers received an email from someone pretending to be from the bank.Details
The Republic of Tajikistan has signed a deal with Western Union Financial Services to joins its international money transfer network. Agreements with the Post of Tajikistan, Orienbank, Amonatbank and
Sohibkorbank will create an estimated 50 Western Union agent locations throughout Tajikistan by year-end. The companies anticipate increasing the number of agent locations to approximately 400 by the year 2006.
With the addition of Tajikistan, Western Union services are now available in all of the former Soviet Republics.
Rumors that Wells Fargo will no longer be using CheckFree’s EBPP services by the end of this year were squashed this morning as both firms announced the signing of a multi-year agreement to expand their relationship. Under terms of the deal, CheckFree will provide online banking, e-billing and payment processing services alongside Wells Fargo’s other partners including MasterCard RPPS, Metavante and Spectrum. CheckFree has been providing online banking and electronic payment services to Wells Fargo since 1996, and this agreement, which includes monthly revenue commitments, will allow CheckFree to participate in Wells Fargo’s latest version of its popular bill pay service. Wells Fargo currently has three million active online users, nearly a third of whom are doing EBPP processing through Wells Fargo. The relationship with CheckFree will give Wells Fargo customers access to CheckFree’s network of more than 200 national and regional billers. In March, Deutsche Bank Alex Brown suggested that CheckFree’s relationship with Wells was in jeopardy. (CF Library 3/18/02)Details
Dublin-based CardBASE Technologies has hired two top executives including a CEO and an SVP of Sales. Vincent Nolan has been named CEO while Mike Connolly will serve as SVP of Sales. Nolan is currently Director, Bank of Ireland Private Banking, responsible for the Privatebanking.ie Internet service. He also previously spent seven years in Asia Pacific as Regional Marketing Director Telecommunications, Siemens-Nixdorf and latterly as General Manager of the Siemens-Nixdorf operations in Hong Kong. Connolly has fifteen years experience in sales and sales management in the enterprise software field in both the Americas and Europe. Most recently he held management positions with Marrakech and J.D. Edwards.Details
Wincor Nixdorf has added the Intel Pentium III 1GHz processor to the standard list of options for its BEETLE family of POS systems including the BEETLE /M and BEETLE /XL-II series. The BEETLE family boasts more than 600,000 installations and can be configured for use at any touch point in a store. Form factors, processors, connectivity and expansion can be selected as appropriate to each particular use — kiosk, lookup terminal, thin-or-thick POS appliance, and more.Details
As part of the new American Express Tiger Woods Credit Card program, cardholders were awarded 500 bonus Membership Rewards points in celebration of Tiger’s 2002 U.S. Open win. This is the first “Tiger Bonus” to be awarded under the credit card program which was launched in May. It is the world’s first credit card bearing Tiger’s name and image. AmEx is awarding a 500 bonus Membership Rewards
points each time Tiger wins one of the Major Championships.
MidFirst Bank, Oklahoma’s second largest financial institution, has teamed with First USA to offer the MidFirst Bank Platinum VISA card. MidFirst has 39 banking center locations and more than 80 ATMs across Oklahoma. The new First USA card will be released this summer. First USA has been aggressively expanding its Platinum VISA program. Last week, First USA upgraded its co-branded Marriott Rewards VISA program to the VISA Signature level and in May, First USA upgraded the United Airlines Mileage Plus VISA program to the VISA Signature card.Details
Town North Bank, which includes TNB Card Services, a major card services provider to four hundred credit unions, has elected Kenneth Sorrels, CEO of the Credit Union of Texas, as chairman of the board. Mr. Sorrels has served as president and chief executive officer of the $1.2 billion Credit Union of Texas (formerly Dallas Teachers Credit Union) since February 1996. Before joining the Credit Union of Texas, Mr. Sorrels was president/CEO of Tinker Federal Credit Union for four years, and president of Sharonview Federal Credit Union for twelve years.Details
First Data has signed a five-year contract extension with Wachovia to process approximately two million home equity and unsecured line of credit loan accounts for Wachovia Bank. Before the First Union and Wachovia merger, First Data had provided loan processing services to First Union National Bank since 1998. Wachovia operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 49 states.Details
MasterCard is on track to become a private share corporation. Last week, MasterCard International’s principal members approved the conversion in connection with MasterCard’s upcoming merger with Europay International. Upon completion of the transaction, MasterCard’s principal members and Europay shareholders will receive shares in MasterCard Incorporated, the new holding company, and a membership interest in MasterCard International, which will continue as MasterCard Incorporated’s principal operating subsidiary. MasterCard International has had a long-standing alliance with Europay, and currently owns a 12.25% share of Europay, and a 15% interest in EPSS, Europay’s processing subsidiary. In addition, MasterCard and Europay each own 50% of Maestro, the world’s leading global online debit program. Following completion, Europay will become the European region of MasterCard, and will continue to be based in Waterloo, Belgium. Peter Hoch, currently CEO of Europay, will retain his leadership role for the region and will report to Mr. Selander.Details