MasterCard expanded its ‘Business Bonuses’ program to enable ‘MasterCard BusinessCard’ cardholders to earn points toward a ‘MasterCard Bonus Card’. The ‘MasterCard Bonus Card’ may then be used anywhere MasterCards are accepted. Offered through participating member financial institutions, ‘MasterCard Business Bonuses’ enables cardholders to earn points for every dollar spent on their MasterCard card. Originally launched in 1999, ‘Business Bonuses’ allowed MasterCard BusinessCard cardholders to redeem rewards points on any airline at any time – without blackout periods. Most issuers charge an extra fee for participation in the program. Other MasterCard programs for small businesses include: ‘MasterCard Smart Data OnLine’ assists a small business in organizing, consolidating, analyzing and managing financial data through the Internet; ‘MasterCard Business Savings’ offers negotiated savings of 10% to 40% on key goods and services in various categories of small business services; ‘MasterCard Small Business Connections’ is an Internet gateway for managing expenses and gathering information; and ‘MasterCard MarketAccess’ which offers a marketplace where small business cardholders buy and sell goods and services online. Sprint, PromiseMark, an Internet and data-related protection plan company, and Bpath, a provider of e-commerce and e-marketing services, recently joined the ‘Small Business Connection’ program. (CF Library 1/9/01; 5/11/01)Details
Swedbank and American Express unveiled the new Swedbank American Express Business Card.The Business Credit Card, which has been designed to meet the needs of small business customers in Sweden, will be available at major branches of Swedbank in Sweden and will operate on American Express’ global merchant network. The card offers a vast array of business and travel benefits including a concierge business and travel service. By issuing cards on the American Express network, Swedbank is able to provide its customers with a wider range of innovative card offerings under a strong, global brand. As the card issuer, Swedbank will be responsible for all servicing of the Card — including billing, accounting, customer service and credit authorizations, as well as marketing activity relating to the product.Kennet Karlsson, Head of Payment Division, Swedbank said, “We are launching a unique product today. For the first time we are offering customers a card that carries the servicing excellence of Swedbank, backed by the global brand assurance and merchant network of American Express. Our goal is to be the best bank for business clients in Sweden, and the launch of the Business Card is yet another step in Swedbank’s aggressive strategy of attracting business clients.” Peter Wright, Senior Vice President, Global Network Services, American Express, said, “We are delighted that Swedbank, who have an outstanding reputation in the marketplace, are launching their first American Express branded card today. American Express is committed to providing consumers with superior value by leveraging the American Express’ world-class brand and our partners’ innovative servicing capabilities.” American Express is aggressively pursuing a strategy of opening its merchant network and card product portfolio to other card issuers around the world, as a major growth initiative for the company. By leveraging its global infrastructure and the powerful appeal of the American Express brand, the company aims to become the premier global network and gain wider reach to customers worldwide. In the last several years it has developed 72 card-issuing relationships in more than 70 countries. In Europe alone, American Express has established 29 such alliances, allowing the company successfully to build its business in the region. Swedbank was created by the merger in 1997 of Foreningsbanken (Co-operative Bank) and Sparbanken Sverige (Savings Bank) to create the largest Bank in Sweden, with over 695 branches throughout the country. American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking.Details
Dillard’s, Inc. announced operating results for its first quarter ended May 5, 2001.
Net sales for the 13-week period ended May 5, 2001 were $1.920 billion. Sales for the 13-week period ended April 29, 2000 were $2.083 billion. Sales for the 13-week period ended May 5, 2001 decreased 8% on both a total and comparable store basis. Management attributes the decrease in sales to the continued softness in consumer demand in the broadline retail sector as well as to the Company’s recent self-directed inventory reduction measures.
Net Income for the thirteen weeks ended May 5, 2001 was $29 million or $.34 per share comparing to a net loss of $74 million or $.78 per share for the thirteen weeks ended April 29, 2000. Income before extraordinary item and accounting change for the first quarter ended May 5, 2001 was $26 million, or $.30 per fully diluted share, as compared to $56 million, or $.58 per fully diluted share, in the prior year. Included in net income for the first quarter ended May 5, 2001 were after-tax extraordinary gains from early extinguishment of debt in the amount of $3 million($.04 per fully diluted share). Included in the net loss for the quarter ended April 29, 2000 is the cumulative effect of an accounting change, which reduced first quarter net income by $130 million after taxes or $1.36 per share.
Effective the beginning of fiscal 2000, the Company changed its method of accounting for inventories under the retail inventory method. The change principally relates to the Company’s accounting for allowances received from vendors, from recording such allowances directly as a reduction to cost of sales to recording such allowances as a reduction to inventoriable product cost. Financial statements for the quarter ended April 29, 2000 have been restated to reflect this change in accordance with Statement of Financial Accounting Standards No. 3 “Reporting Accounting Changes in Interim Financial Statements”.
Gross margin as a percentage of sales for the first quarter ended May 5, 2001 improved 50 basis points from the previous year. Management attributes the margin improvement to the Company’s recent inventory reduction measures and to the ongoing execution of key merchandising initiatives, which include:
a) The Product-First Buying Philosophy
b) Enhanced (accelerated) markdown strategy
c) Emphasis on private brand merchandise
d) Reconfiguration of assortments of basic merchandise
For more information regarding the above-mentioned merchandise initiatives, please refer the Company’s report on Form 10-K for the year ended February 3, 2001. Inventory position at May 5, 2001 decreased 6% on both a total and comparable store basis.
Debt and Share Repurchase
During the quarter ended May 5, 2001, Dillard’s, Inc. continued execution of its strategy of early repayment of debt and repurchase of its Class A Common Stock, effecting a balanced approach to such purchases as market conditions permitted.
During the first quarter ended May 5, 2001, the Company repurchased $17 million of its Class A Common Stock under the existing $200 million share repurchase authorization, which was approved by the board of directors in May, 2000.
Approximately $80 million in share repurchase authorization remained under this open-ended plan at May 5, 2001. The Company had 84.0 million shares of its Class A and Class B Common Stock outstanding at May 5, 2001.
During the quarter ended May 5, 2001, Dillard’s repurchased $31 million of its outstanding unsecured notes. Interest rates on the repurchased securities ranged from 6.4% to 8.2%. Maturity dates ranged from 2003 to 2023. These securities were purchased at an average yield of 9.85%, resulting in after-tax gain of approximately $3 million dollars.
A recap of the Company’s debt and share repurchase activity for the first quarter ended May 5, 2001 follows:
Debt Reduction Class A Common Stock
$ 31 million $17 million
1.0 million shares
Average price $16.78
Advertising, Selling, Administrative and General Expenses
Advertising, selling, administrative and general expenses were $542 million (28.2% of sales) for the first quarter ended May 5, 2001 compared to $536 million(25.8% of sales for the prior year period. Lack of sales leverage during the quarter contributed to the increase in operating expenses as a percent to sales.
Interest and Debt Expense
Interest and debt expense decreased approximately $11 million during the 13-week period ended May 5, 2001, respectively, as a result of the Company’s continued focus on decreasing debt levels and success in the execution of this initiative.
Accounts receivable at May 5, 2001 were $883 million compared to $997 million at April 29, 2000. The decrease in accounts receivable is due to the decline in sales and to continuing trend of customers to utilize bank cards and cash rather than the Dillard’s proprietary credit card for purchases. Management is pleased with the overall quality of the accounts receivable portfolio.
Property and Equipment
Net property and equipment at May 5, 2001 was $3.492 billion compared to $3.599 billion at April 29, 2000. The decrease of $107 million is largely the result of related depreciation expense for the 53 weeks exceeding capital expenditures. Capital expenditures during the first quarter ended May 5, 2001 were $57 million.
Store Openings & Acquisitions
During the first quarter, Dillard’s opened two newly-constructed stores in North Carolina as scheduled. The stores are located at Valley Hills Mall in Hickory, North Carolina and Westfield Shopping Town Independence in Wilmington. Each store measures approximately 150,000 square feet. As previously announced, the Company purchased four former ZCMI stores located in Idaho and Utah on April 18, 2001. These stores are currently operating under the Dillard’s nameplate. Additionally, as announced, eight former Montgomery Ward store locations were purchased on April 25, 2001. The Company is currently determining the best use within the respective markets. At May 5, 2001, the Company operated 342 stores spanning 29 states – all operating under one name, Dillard’s.
Additional information regarding sales for the quarter is provided:
Sales by Category
Sales performance by month for the first quarter occurred as follows:
February -3% -2%
March -13% -13%
April -6% -6%
Total -8% -8%
Owned sales performance by category for the first quarter occurred as follows:
13 Weeks Ended
May 5, 2001
Cosmetics -1% 0%
Women’s & Juniors Clothing -9% -9%
Children’s Clothing -11% -11%
Men’s Clothing and Accessories -11% -10%
Shoes, Accessories and Lingerie -6% -6%
Home -11% -11%
Sales by Region
Sales performance by region for the first quarter were:
13 Weeks ended
May 5, 2001
13 Weeks Ended
May 5, 2001
Women’s & Juniors Clothing 33.3%
Children’s Clothing 7.0%
Men’s Clothing and Accessories 17.8%
Shoes, Accessories and Lingerie 20.6%
Estimates for 2001
The Company is updating the following estimates for certain income statement items for the fiscal year ended February 2, 2002, based upon current conditions. Actual results may differ significantly from these estimates as conditions and factors change – See “Forward Looking Information”.
Depreciation and amortization $ 315 $303
Rental expense 75 76
Interest expense 200 224
Capital expenditures 225 226
For other details on Dillard’s latest results visit CardData ([www.carddata.com])
OTI announced financial results for the quarter ended 31 March 2001 with
significant increases in both revenue and gross profit.
— Revenues for the quarter are up 297% to US $4.07 million (1Q2000 US $1.025
— Gross profit ahead 356% to $1.94 million (1Q2000 US $0.425 million).
— Operating expenses remain at a consistent level of $5.11 million according
to the company’s corporate strategy and level of operations and thus the
operating loss for the three months ended March 31, 2001 were $3.171 million.
— Net loss of $3.219 million (1Q2000 US $3 million) in line with company
expectations as a result of operating expenses and the inclusion of e-Smart’s
operating loss of $0.642 million. Given the current economic situation and
OTI’s conservative financial approach, the company has taken an additional
provision for bad debt in the amount of $0.5 million for customers who have
paid within 180 days and who the company believes might not have adequate
— These results are in line with the company’s expectations to break even and
reach profitability for the fourth quarter of 2001.
“We are continuing to grow and meet projections,” said Oded Bashan, President
and CEO of OTI. “Our revenues have almost quadrupled, and we have strengthened
our global operations and marketing network. We have launched additional
products that strengthen our position as the technology leader in our
OTI has initiated an expansion strategy in 2000 that has revolved around
investing in R&D, expanding marketing infrastructure and increasing the global
operations. As a result of such expansion, the company has reached a strategic
level of operation that incurs operating expenses of approximately $5 million
Revenues for the quarter ended 31 March 2001 were $4.07 million, an
297% compared with US$1.02 million for 1Q2000. The gross profit for the
grew by 356% to $1.94 million compared with $0.42 million in 1Q2000.
Research & development expenses increased by 82% to $1.4 million from $0.79
million in 1Q2000. Marketing expenses rose by 66% to $2.306 million from
million in the same period, while general and administrative expenses
by 70% to $1.089 million compared with $0.64 million in 1Q2000.
The net loss for 1Q2001 was $3.219 million (1Q2000 US$3 million) up from
$2.993 million in the previous quarter. The increase in net loss was strongly
related to the investments made in marketing, infrastructure, and global
expansion including acquisitions, and research & development. These are
expenses and are in line with OTI’s expansion strategy. In addition, given the
current economic situation and OTI’s conservative financial outlook, the
company has taken an additional provision for bad debt in the amount of $0.5
million for customers who have not paid within 180 days and who the company
believes might not have adequate securities.
Reflecting the company’s strategy, the operating expenses remain at the same
level as in 4Q2000. The company ended 1Q2001 with operating expenses of $5.11
million and operating losses of $3.17 million. Including e-Smart’s loss of
$0.642 million OTI finished 1Q2001 with a net loss of $3.219 million.
OTI ended 1Q2001 with cash, cash equivalents, and short-term investments of
$15.5 million and total assets of $41.3 million.
Some of the major developments during the first quarter include
— Xerox Connect and OTI are providing payment and information solutions for
the U.S. campus market. The relationship provides end-to-end solutions for
universities and corporate campuses.
— City of Tel Aviv will equip two additional country clubs with OTI’s
contactless smart card campus solution.
— OTI and P-Card System will jointly launch the first Europe-wide
currency-independent contact/contactless smart card solution to issuers
— OTI acquired the remaining 49 percent of leading European smart card system
integrator InterCard Kartensysteme GmbH and electronic smart card hardware
manufacturer InterCard System Electronic GmbH.
— e-Smart System will commence a field test for OTI’s smart card and readers
for use in an automated fare collection service in CKI’s toll bridge in Panyu,
Guandong province of China.
— MediKredit Integrated Healthcare Solutions (Pty) Ltd and OTI Africa began a
pilot project for the introduction of OTI’s Medical Management Application.
— The Israel Postal Authorities are to market and distribute EasyPark
electronic parking cards nationwide.
— OTI launched its Saturn Reader, the first fully integrated smart card
to accept both ISO 7816 contact cards and ISO 14443 Type A, B, and D
— OTI will provide the first contactless smart card supporting public-key
infrastructure (PKI) encryption, used for digital certificates in such secure
environments as Internet transactions and in government agencies.
— Hindustan Petroleum Corporation Ltd. (HPCL) is launching a
contactless smart card program throughout India offering a payment and loyalty
solution for use at HPCL’s retail petroleum stations.
Established in 1990, OTI (On Track Innovations) designs and develops
contactless microprocessor-based smart card technology to address the needs of
a wide variety of markets. Applications developed by OTI include product
solutions for mass transit, parking, gas management systems, loyalty schemes,
ID and secure campuses. OTI has regional offices in the US, Europe, Asia
Pacific, and Africa to market and support its products. The company was
the prestigious ESCAT Award for smart card innovation in both 1998 and 2000.
Visit OTI on the Internet at www.oti.co.il.
CheckFree announced this morning it has successfully migrated TransPoint customers to its end-to-end electronic billing and payment platform called ‘Genesis’. The TransPoint platform will be retired by June 30, 2001. As a result of the migration financial services organizations previously supported by the TransPoint platform will be able to distribute electronic bills and statements from a larger base of national and regional companies. Approximately 30 biller organizations previously operating on the TransPoint platform will have the ability to distribute those bills to nearly 300 Web sites where consumers choose to receive and pay their bills. CheckFree and TransPoint announced their merger in February 2000. TransPoint was an EBPP joint venture between First Data and Microsoft. Citibank was a minority equity investor. The deal was valued at $1.2 billion. Following the transaction, Microsoft, First Data and Citibank together now own 23% of CheckFree. (CF Library 2/16/00)Details
Proton World announced that it had successfully implemented the new Open
Platform 1.5.4 Terminal Framework specification, developed by the Device
Committee of GlobalPlatform, a cross-industry organisation that owns and
develops the Open Platform specifications for multiple-application smart card
Proton World has developed and implemented OPTF-compliant modules for
e-purse load, purchase and balance reading, using both the Proton R3 and the
Proton Prisma technology releases. The modules are platform-independent, and
were created using the JavaÃ programming language and inter-application and
application-platform interfaces defined and specified by GlobalPlatform.
Proton World and GlobalPlatform believe that the existence of large terminal
infrastructures is key to the future development of large-scale smart card
systems. Until now, there was a lack of global standards for terminals, and
terminal development was a slow and costly process, often dependent on the
specific requirements of each customer or scheme. The OPTF standard is an
important step towards a new generation of smart card terminals that are
platform and vendor-independent. Its adoption means that costly development
work can be done once and then replicated in many different implementations.
It will also open the terminal development process to developers without
specific terminal knowledge.
The Proton World OPTF implementation was demonstrated at the Proton World booth
at the CardTech/SecurTech trade show in Las Vegas from 14-17 May. The
demonstration used a PC, a C-ZAM/Smash smart card terminal from Banksys and a
Proton Prisma smart card.
Yves Moulart, CTO at Proton World, said “We believe that OPTF solves many of
the problems associated with traditional terminal development, and opens the
door to a new generation of terminals, just like OP 2.1 and CEPS have led to a
new generation of smart cards. Both of these developments will help to realise
the full potential of smart cards.”
Bernard Morvant, Chairman of the GlobalPlatform Device Committee, said ” I am
delighted, but not surprised to see that Proton World are one of the first in
the world to implement OPTF. They have been very active members of the Device
Committee and this achievement confirms their commitment to remaining at the
cutting edge of international smart card standards development.”
Vincent Roland, Senior Vice-President, Terminal and Card Applications at
Banksys, said “Banksys is very pleased to have collaborated with Proton World
in this development, which clearly demonstrates the suitability of our
C-ZAM/Smash terminal for global deployment.”
American Express announced the winners in its contest that challenged Java developers from around the world to create innovative, new smart card applications for potential use on the credit card Blue from American Express. The ‘Code Blue’ contest was co-sponsored by Sun Microsystems and Oberthur Card Systems. Igor Fisher, of Tuebingen, Germany, will receive $50,000 as the first place winner of the ‘Code Blue’ contest, earning the honor with his “Pass Keeper” application. Pass Keeper would enhance a user’s smart card by storing a portable and securely locked list of Internet addresses (a/k/a bookmarks) together with a user’s PINs, passwords, or account numbers that might be required for entering those sites. Sirl Davis of the UK will receive $25,000 as the second place finisher. Mr. Davis’ application would use smart card technology for encrypting and gaining secure access to MP3 files and could be extended to other file formats, software, and video games. The third place winners created a Java Card technology application for couponing and electronic ticketing.Details
During May and June, 100 selected Eurocard customers are testing the use of
a virtual Eurocard for payments via Ericsson’s R520m mobile telephone with
built-in Bluetooth technology.
This is the first time that an internationally valid payment form has been
used in such a trial.
Svenska Eurocard is seeking to test whether customers experience that
payment via the mobile telephone is an easier, faster and more convenient
alternative than other payment methods, such as cash or card. Four stores
in the TÃ¤by Centrum shopping mall near Stockholm – MQ, Ego, Teknikmagasinet
and Buketten – are involved in the test as well as the Statoil petrol
station adjacent to the TÃ¤by Gallop racetrack.
“For the customer, paying for purchases using a Bluetooth-equipped mobile
phone will enable them to pass through the store check-out much faster. If
there is a line-up, the wait will be shortened considerably – which
benefits both customers and stores. Payment by Bluetooth-equipped mobile
phone can shorten the payment procedure by one-half. Customers can also be
informed of any special offers the stores may have at the particular time
via their mobile telephones,” says Synnove Trygg, president of Eurocard AB
“For the stores, payment by mobile phone with Bluetooth enables them to
serve more customers in shorter time. Since purchases are confirmed using
PIN codes, there is no need for the stores to check customers’ ID,” says
Bluetooth makes it possible to transmit wireless data over short distances,
quickly and free of charge – in this case, between the purchaser’s mobile
phone, which incorporates the virtual Eurocard, and the store cash register.
“The attempt is based on an Ericsson-developed payment platform for
financial transactions using Bluetooth. It is an example of how the new
wireless Internet technology can be used for users’ everyday tasks,” says
Orvar Parling, vice president in charge of sales with Ericsson Sverige AB.
Eurocard AB in Sweden’s tests are unlike other wireless-payment methods
that use mobile phones in that they involve Bluetooth technology. Other
ongoing attempts use the regular GSM network and often involve one or
several SMS services, which creates costs for the consumer and longer
National Processing Company announced the appointment of Laurent “Larry” F. Bouchard to serve as senior vice president – Direct Marketing. Bouchard, who will report to Mark Pyke, executive vice president of Merchant Services, will provide leadership and strategic direction as NPC aggressively expands into the direct marketing segment.
Prior to joining NPC, Bouchard held senior positions at leading companies in the acquiring industry. Most recently, Bouchard oversaw product development at Paymentech and prior to that served as Portfolio Manager for Litle & Company.
“With more than three decades of experience in the merchant services industry, Larry brings valuable knowledge and direction to NPC with regard to the direct marketing industry,” stated Mark Pyke, executive vice president of Merchant Services for NPC. “Larry’s experience in product development and specifically direct marketing will serve NPC well as we continue to grow our existing merchant base.”
“I’m proud to join one of the leading merchant processing companies in the world,” said Larry Bouchard, senior vice president – Direct Marketing for NPC. “My goal is to build upon the strong foundation NPC has established within the industry, and help take it to the next level.”
About National Processing, Inc.
National Processing, Inc. through its wholly owned operating subsidiary, National Processing Company (NPC(R)) is a leading provider of merchant credit card processing. National Processing is 87 percent owned by National City Corporation (NYSE: NCC) ( [http://www.nationalcity.com]), a Cleveland based $91 billion financial holding company. NPC supports over 500,000 merchant locations, representing nearly one out of every five Visa(R) and MasterCard(R) transactions processed nationally. NPC’s card processing solutions offer superior levels of service and performance and assist merchants in lowering their total cost of card acceptance through our world-class people, technology and service. Additional information regarding National Processing can be obtained at [http://www.npc.net].
A new smart card ticketing system for bus and train passengers in Northern
Ireland is forthcoming during 2001. Poole-based Wayfarer Transit Systems is
the preferred suppliers for the Â£6m integrated ticketing system. The
Translink system will eventually enable passengers on Northern Ireland
Railways, Ulsterbus and Citybus to book through tickets through their
prepaid smart cards.
AtomicTangerine announced that Visa U.S.A. will offer AtomicTangerine’s Information Security University (InfoSec University) as a component of its Cardholder Information Security Program (CISP) education package. The ISU courses will support Visa’s training efforts on the subject of Web-based security.
Visa launched the CISP as part of its Secure Commerce Program in September 2000, partnering with e-merchants to protect cardholder data online. The CISP entails a set of 12 e-Commerce security requirements for safeguarding systems from unauthorized use of card and account information. Visa is helping e-merchants and service providers comply with the CISP requirements, ultimately making online payments safer for consumers.
In order to help spread the CISP message among the e-merchant community, Visa is promoting AtomicTangerine’s InfoSec University as a knowledge source about each of the 12 CISP security requirements. The InfoSec University courses offer a comprehensive, easy-to-use curriculum designed and written by AtomicTangerine’s experts in information security and educational development. The courses, ranging from basic instruction in protecting data for all computer users to deeper technical content designed for IT professionals, will be accessible through www.visabrc.com.
“We are very pleased that Visa has chosen AtomicTangerine’s InfoSec University as part of its CISP education curriculum,” said Joe Deney, CEO AtomicTangerine. “It’s a perfect example of companies realizing that the protection of data, the privacy of customers, and a well-trained security-savvy workforce are essential for doing business in today’s world.”
“AtomicTangerine’s ISU application will play a vital role in educating the Visa community on CISP’s critical security endeavors,” said John Shaughnessy, senior vice president, Risk Management, Visa U.S.A. “Having this additional level of training available enriches our program by helping e-merchants deadbolt cardholder data and safeguard e-Commerce businesses.”
AtomicTangerine, a spin-off of SRI International, specializes in information security services and technology offerings both on-land and on-line for Fortune 1000 companies. The company has demonstrated worldwide leadership as a valued security resource and services provider.
AtomicTangerine offers a complete range of security solutions including risk assessment and management, security architecture and design, advanced technology implementation, public/private partnerships, executive programs, online training, products, and services. Online services include SecurityPortal — internationally recognized as the “focal point for security on the NET(TM)”, NetRadarEWS(TM) (intrusion detection), and InfoSec University an online security training and awareness program.) The SecurityPortal web site (www.securityportal.com) serves a broad audience of more than 250,000 IS professionals each month, and contains more than 40,000 pages of security information, e-newsletters and specially focused digests. For more information about AtomicTangerine, visit the website at [www.atomictangerine.com].
CommWorks Corporation, an industry leader in delivering Internet Protocol (IP)
based networking solutions to service providers, announced that its Total
Control 1000 transaction gateway is helping Visanet, a leading provider of
credit card processing services in Brazil, to reduce its transaction
Visanet operates payment systems for the more than 600,000 affiliates of the
Visa system in Brazil. Visanet has deployed the Total Control 1000 transaction
gateway in its point-of-sale (POS) terminals in Sao Paulo, Brasilia, Salvador,
and Rio de Janeiro. Today, one out of four Visanet terminals are equipped with
the CommWorks’ solution. That number is expected to grow to 80 percent of
Visanet’s 170,000 terminals in Brazil by the end of this year.
The Total Control 1000 transaction gateway is CommWorks’ solution for
transaction routing services. The gateway is designed to handle hundreds of
millions of quick, secure transactions involving the transfer of small amounts
of data in a single dial access session. These transactions include credit
authorizations, debit card fund transfers, health benefit authorizations,
electronic fund transfers, and other transactions.
“In comparison with other solutions currently in use by Visanet, we have
achieved a 60 percent cost reduction per port thanks to the CommWorks’
transaction gateway,” said Carlos Alberto Perna, Visanet’s telecommunications
and network director. “The transaction gateway features high performance and
fast connections, even for the different POS models of Visanet. It is also a
flexible platform, providing support for a great variety of protocols and
connection speeds, which is critical for PC connectivity to the network.”
“Customers are looking for updated concentrators that support older legacy
protocols as well as being fully compatible with existing POS terminals in the
network,” said Amit Tiwari, director, Enhanced Data Systems, CommWorks
Corporation. “The Total Control 1000 transaction gateway meets this need,
allowing customers to seamlessly migrate to newer more efficient technologies.
We are pleased that Visanet is the first transaction processor in South
to deploy our gateway.”
Visanet has already invested U.S. $2.5 million to implement this solution and
will be investing the same amount this year to extend it throughout its
installed base, according to Perna.
The Total Control 1000 transaction gateway runs on CommWorks’ award-winning
Total Control 1000 multiservice access platform, which has demonstrated its
reliability and performance for nearly a decade. Currently, more than 12
million Total Control ports are deployed by service providers around the world
to deliver a broad range of data, voice and fax services on a single platform
and using a common set of authentication and billing services.
About CommWorks Corporation
Headquartered in Mount Prospect, Illinois, CommWorks, a 3Com Company, supplies
network service providers around the world with access infrastructures and IP
services platforms that open new business opportunities and help them
unique positions in a competitive marketplace. With flexible multi-service
hardware platforms and modular software components, the comprehensive
architecture makes it possible for service providers to integrate their
existing infrastructures with innovative technologies to deliver an array of
next-generation IP-based enhanced services to their customers. For further
information, visit www.commworks.com
About 3Com Corporation
3Com simplifies how people connect to information and services through
easy-to-use, connectivity products and solutions for consumers and commercial
organizations. The company also provides access infrastructures and IP
platforms for network service providers. For further information, visit
www.3com.com or the press site at www.3com.com/pressbox.
3Com, CommWorks and Total Control are registered trademarks of 3Com
Corporation. All other company and product names may be trademarks of the
respective companies with which they are associated.