PNC Financial Services Group is providing nine ATMs for the Pittsburgh Steelers at the 65,000-seat Heinz Field. PNC says it is the most bank-owned ATMs in any U.S. sports facility. Cleveland Browns Stadium, with 73,000 seats, has three ATMs and the University of Michigan football stadium, with 107,000 seats, has four ATMs. PNC Bank is the “The Official Bank of the Pittsburgh Steelers”. PNC customers can also get the Steelers’ name and logo on debit cards, personal checks and checkbook covers.Details
Keycorp Ltd has won a contract from UK-based Vanguard to supply POS terminals to Slovakia. The deal calls for 1,500 ‘K23’ advanced POS terminals to be installed at AXA in the Slovak Republic. The deployment of the terminals in Slovakia was part of the new implementations of an EFTPOS infrastructure. The ‘K23’ series of terminals support credit and debit transactions.Details
TeleCheck Services, Inc., the world’s leading check acceptance company and a subsidiary of Denver-based First Data Corp. announced Charles D. Drucker has been named president and chief executive officer. In his role with TeleCheck, he will provide executive direction for the company and oversee operations, business development, marketing, and strategic planning and coordination.
Drucker has over 20 years experience in financial services and payment processing, directing business strategy, sales, product development, marketing and operations. He most recently served as senior vice president and general manager of commercial services at Wells Fargo Bank where he managed the ninth largest merchant portfolio in the nation. While there, he played a key role in marketing TeleCheck products and services to Wells Fargo merchant customers.
“The marketplace demand for electronic check commerce and direct payment services continues to escalate faster than ever,” said Drucker. “Product innovation and leadership in this marketplace has placed TeleCheck at the forefront of this electronic movement of funds. I look forward to joining an industry innovator that is successfully delivering to merchants and consumers the most advanced and reliable check acceptance, check conversion, and risk management solutions in the market.”
Previously at Wells Fargo, Drucker directed the bank’s Corporate Card and Consumer Card Marketing Programs. Prior to his tenure at Wells Fargo, Drucker held executive leadership and financial management positions with Bank One and Security Pacific Bank. An active participant in the payment industry, Drucker also sits on the MasterCard Acquirer’s Committee and the Visa Acquirer’s Council.
“Charles is an enthusiastic and visionary leader with a solid foundation in the payments industry,” said Pamela H. Patsley, senior executive vice president of First Data Corp. “He also is uniquely positioned to capitalize on potential synergies between TeleCheck and First Data Merchant Services as electronic check and direct debit technology advances. His strategic planning experience and strong leadership skills will help TeleCheck continue to expand business development, build strong partnerships and capitalize on the increasing demand for the TeleCheck Electronic Check Acceptance(R) service.”
About TeleCheck Services, Inc.
TeleCheck, a subsidiary of Denver-based First Data Corp. (NYSE: FDC), is the world’s leading provider of paper and electronic check services, helping more than 272,000 retail, financial institution, grocery and other industry clients to increase their profitability, reduce risk and streamline operations. TeleCheck’s check acceptance and electronic check commerce solutions help businesses safely and efficiently accept payment at the point of sale, by telephone, over the Internet, and through timed or recurring ACH payments. TeleCheck services are offered through a sales and service network in more than 90 cities in the United States and in Canada, Puerto Rico, Australia and New Zealand. In 2000, TeleCheck authorized more than $163 billion in checks, representing nearly 3.2 billion transactions. For more information about TeleCheck, visit the Internet site at .
First Data Corp. (NYSE: FDC), with global headquarters in Denver, powers the global economy. Serving approximately 2.6 million merchant locations, more than 1,400 card issuers and millions of consumers, First Data makes it easier, faster and more secure for people and businesses to buy goods and services, using virtually any form of payment: credit, debit, smart card, stored-value card or check at the point-of-sale, over the Internet or by money transfer. For more information, please visit the company’s Web site at .Details
ICBA and Travelex have extended their
existing contract to supply ICBA member banks with Interpayment Visa Travelers
Cheques for another three years. Travelex, an ICBA preferred vendor, recently
acquired Thomas Cook Global & Financial Services and Interpayment.
The program, established in 1982 and has more than 2000 enrolled banks,
enables banks to participate in the Visa Travelers Cheques Program without
incurring annual fees. Additionally, it allows banks to generate additional
revenue through commission fees and sales incentives.
“Research has shown that consumers still choose travelers cheques as one
of the safest ways to carry money while traveling, because travelers cheques
are more quickly and easily replaced than lost or stolen credit or debit
cards. With cheques sales totaling over $13 billion last year, it’s clear that
there is still a strong market for travelers cheques in the U.S.,” says Tom
Tucker, senior vice president of sales development for Travelex.
As part of the renewed emphasis on the travelers cheque product, Travelex
is developing an Internet-based solution that will enable banks to
electronically submit sales data and settlement payment simultaneously.
According to Simon Hoppe, Travelex’s extranet project manager, “The automation
of these two processes will allow banks to more quickly and easily complete
existing paper-based processes, improving the profitability of the travelers
cheques program overall.”
As ICBA and Travelex continue to explore new ways to help community banks
attract and retain profitable customers, Travelex has begun a pilot of a new
foreign currency service with ICBA. My Travel Wallet is an online ordering
solution for foreign currency banknotes and Travelers Cheques, which allows
bank customers to place foreign travel cash orders for home delivery through
their bank Web site. My Travel Wallet can be added to ICBA member Web sites
for no cost in as little as 24 hours.
“One of the community bank’s most significant challenges today is being
able to compete with the wide range of services offered by larger banks. My
Travel Wallet is an easy, risk-free way for community banks to offer foreign
currency services to their customers, and avoid having to refer customers to a
competitor bank for service,” says Bob Gulledge, ICBA chairman.
The Travelex Group, a privately-owned, UK-based company, recently acquired
Thomas Cook Global and Financial Services creating the world’s largest retail
foreign exchange business with 650 branches and gateway locations in New York,
London, Hong Kong and Sydney. The combined business, with a staff of more than
6,000, is also the world’s largest non-bank provider of corporate
international payments with more than 18,000 customers worldwide, the world’s
leading provider of outsourced travel money, with state-of-the-art operations
on 3 continents and the world’s second largest issuer of travelers cheques.
ICBA is the primary voice for the nation’s community banks, representing
5,000 institutions at nearly 17,000 locations nationwide. Community banks are
independently owned and operated and are characterized by attention to
customer service, lower fees and small business, agricultural and consumer
lending. For more information, visit http://www.icba.org/ .
On the day that Reagan National Airport re-opens, airports across the country are looking to smart card technology to lead the way to tighten access. In the first-ever large-scale use in aviation, Chicago’s O’Hare International Airport confirmed Wednesday it will upgrade its existing building access-control system based on fingerprint-recognition technology from SecuGen Corp. Beginning this fall, new smart card fingerprint-verification readers will be installed on approximately 1,100 doors at both O’Hare and Midway airports. Under the program the airports’ approximately 55,000 employees will register their fingerprints using a SecuGen optical fingerprint sensor with the fingerprint templates stored on a smart card.Details
As the nation remains in the grip of fear and uncertainty in the wake of recent terrorist attacks, Americans are more uncomfortable sharing personal information over the Internet. The National Consumers League said yesterday that a recent poll found consumers’ primary concern about shopping online is that their credit card numbers will be stolen. More than 40% are still worried about putting their credit card numbers online, even though all the major credit card networks in the USA have gone to great lengths to educate consumers and waive liability for fraudulent online transactions. Surprisingly, NCL found that 59% of Americans mistakenly believe it is safer to pay for an online purchase with a check or money order than with a credit card. As a result of the survey results, the NCL said Wednesday it is launching an educational campaign to encourage consumers to use credit cards for online shopping. The NCL campaign is being funded by Orbiscom.Details
Lehman Brothers on Wednesday lowered its earnings estimate and price target for credit card issuer Providian Financial Corp., citing a weaker economy. Lehman cut its 12-month price target to $30 from $40 and lowered its 2002 earnings per share target to $3.10 from $3.49. Providian shares closed at $21.04 in Wednesday trading on the NYSE.Details
With sagging travel demand, Delta announced the most aggressive promotion ever to entice its frequent flyer members and credit cardholders to return to the skies. The three, new ‘SkyMiles’ promotions will enable members to earn accelerated status, bonus miles, and to redeem miles at reduced award levels. One of the three new promotions offers double miles for all purchases made with the ‘Delta SkyMiles Credit Card from American Express’ between Oct. 15 through Nov. 30. The current ‘Double Miles’ promotion with AmEx only awarded bonus miles for purchases at super markets, home improvement stores, drug stores, gas stations, wireless phone bills, the U.S. Postal Service and Delta Air Lines. The second promotion enables ‘SkyMiles’ members to earn double miles on all Delta flights through Nov. 15 and counts these bonus miles toward ‘2002 Medallion’ elite-level status. And third, the airline has extended by one month a previously announced opportunity to redeem travel awards at reduced mileage levels. Members may redeem 15,000 miles, instead of 25,000, for a free economy class ticket within North America, or 40,000 miles, instead of 50,000, for a free coach ticket to Europe or the Caribbean.Details
First USA, Bank One Corporation’s credit card unit, has announced the appointment of James LeKachman as head of Decision Management, a new group that will focus on customer relationship management. LeKachman reports to Daniel Frate, president and chief operating officer of First USA.
LeKachman, 41, has spent more than 10 years leveraging computer technology to develop enterprise-wide programs for customer relationship management. He spent 13 years at American Management Systems Inc. (AMS), rising to vice president in the Consumer Financial Services Group, and most recently was vice president at Sapient Corporation. “We welcome someone of Jim’s caliber to guide an important area for First USA,” said Phil Heasley, chairman and chief executive officer of First USA. “Under his leadership, our Decision Management team will apply innovative analytics to our customer relationship strategies to help us better serve our customers.”
“Jim brings exceptional knowledge and experience in managing customer relationships in the financial services industry,” said Frate, who worked closely with LeKachman for several years during LeKachman’s tenure at AMS. “He will help us match each of our customers to the right products, improving both customer satisfaction and profitability.” LeKachman began his career as a credit policy analyst at Citicorp Retail Services before joining Risk Sciences Group as a senior consultant. He joined AMS in 1987, eventually becoming co-manager of the Customer Relationship Management practice for the Consumer Financial Services Group and a member of the group’s Management Committee. “I look forward to helping First USA, and our parent Bank One, expand the relationships within our excellent customer base, reinforcing First USA as a premier credit card and payments company,” said LeKachman. LeKachman earned a bachelor’s degree in economics from Lehigh University and a master’s degree in business administration from the University of Chicago.
First USA, a subsidiary of Bank One Corp. (NYSE “ONE”), is the largest issuer of Visa credit cards in the world, offering credit cards for consumers and businesses under the First USA and Bank One names and on behalf of its 1,900 marketing partners. These partners include some of the leading corporations, universities and affinity organizations in the United States. Bank One is the nation’s sixth-largest bank holding company, with assets of more than $270 billion. More information can be found at .Details
IL-based Perfect Plastic Printing Corporation announced it has been issued a second patent in as many weeks covering its patented translucent card technology.
Perfect Plastic was issued patents on 9/18/01 and 10/2/01 covering its translucent card technology. Perfect Plastic has been involved in clear card technology since 1974. Unlike standard opaque plastic cards, translucent cards allow some visible light to pass through.
The new proprietary technology developed by Perfect Plastic allows these cards to be detected by card readers and ATM sensors and standard card counting equipment despite the fact that they are not visibly opaque.
Translucent cards can be made in a variety of colors and color combinations per the wishes of the customer. The translucent card can be attractive and appealing. The capability to manufacture translucent cards opens up new avenues in graphic design and visual effects not previously available to credit card designers. Translucency is a high-end feature and imparts to the card user a level of status over those who merely have standard opaque cards.
For more information, contact Doug Eden, Director of Marketing at (630) 584-1600.Details
Gelco Information Network, the largest and most experienced provider of e-business expense management and reimbursement programs, today announced that Maple Leaf Foods has selected ExpenseLink/Direct(R), a hosted web-based solution for automation of its travel and entertainment (T&E) expense management and employee payment request processes for Maple Leaf Food employees across U.S. and Canadian operations. Based in Toronto, Canada, Maple Leaf Foods is a leading, global food processing company. Gelco automates the T & E expense management process for mobile employees by providing a user-friendly, web-based solution for easy and rapid expense processing and reimbursement. “We are pleased to have been selected by global leader Maple Leaf Foods to provide them an innovative technology and an unsurpassed expense management automation solution,” said Jon Klem, president and chief executive officer of Gelco’s Expense Management Group. “In today’s fiscal environment, it is cost effective for companies to outsource expense management to gain greater processing efficiencies and control over travel expenditures. Gelco automates each step of the T & E expense management process to provide Maple Leaf Foods with reduced operational costs, improved corporate efficiency, and increased productivity.”
ExpenseLink/Direct(R) allows automation of the entire expense management process from anywhere in the world, providing expense reporting, auditing and reimbursement, data analysis and paperless record keeping. Available anytime, anywhere, Gelco’s ExpenseLink/Direct(R) users simply create expense reports online, submitting them securely via the Internet. Users gain access through an Internet connection to enter travel expenses. Once completed, expenses are reimbursed within 72 hours via direct deposit to employee bank accounts. Corporate charge cards are paid directly according to their company’s payment schedule. Configurable client and server side business rules and automated workflow ensure maximum levels of control and accurate accounting.
About Maple Leaf Foods
Maple Leaf Foods Inc. is a leading global food processing company. Headquartered in Toronto, Canada, the Company employs more than 13,000 people at its operations across Canada and in the United States, Europe and Asia. Maple Leaf Foods reported sales of $3.9 billion in 2000.
Minneapolis based Gelco Information Network is a wholly owned subsidiary of HG Holdings, a multinational interest specializing in e-business products and services for mobile employees. Gelco has been providing travel expense management software and services for more than 35 years. As a whole, the company processed approximately $11 billion in reimbursements in 2000. The Expense Management Group serves over 1.9 million users in over 1,200 corporations and federal agencies, including Ericsson, The Toro Company, American Home Products, Reebok International, Ltd., and the United States Government (including Department of Defense, State Department and NASA). Leveraging an e-business infrastructure through technology from Sun Microsystems, Cisco, Oracle, EMC and Microsoft, Gelco is the only company that provides its customers with complete expense and trade fund management solutions. Additionally, through its partnerships and private-label relationships, Gelco provides this e-business technology and infrastructure to application service providers and other providers of travel management services. Visit the Gelco web site at [www.gelco.com].
Hypercom said yesterday that the forward sale of 500,000 shares of its stock by Paul Wallner in late September in no way reflects on the business prospects for the company. Hypercom says the stock transaction was made in Paul’s individual capacity and that he is no longer directly affiliated with the company. Although Paul is the brother of George Wallner, the chairman of the board, the sale is not an insider stock sale. Paul left Hypercom in December 1999 and left the board of directors in May 2000.Details