Fighting Bad I-Merchants

CitX Corporation announces the launch of ‘CyberlSOX’ online credit card merchant account fraud prevention. The new system would enable businesses to verify the authenticity of credit card merchant account programs marketed by ISO. The ‘CyberlSOX’ service will be offered free to businesses through CitX Corporation’s IntraPayX e-commerce division and will feature a registry of participation merchant account ISA agents and credit card merchant account issuing banks. ISOs and issuing banks will be able to subscribe to the service and participate to have their merchant account program and services authenticated.

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Golden Cointstar

Coinstar Inc. announced a unique promotion aimed at encouraging Americans to return their idle coins to circulation. The promotion, which began this week will enable Americans who process at least $20 worth of change through a Coinstar machine to receive two of the United States Mint’s new Golden Dollar coins. Americans who recycle at least $20 worth of change through Coinstar will find a form at the end of their regular Coinstar transaction voucher, which works like a mail-in rebate.

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MC Fairy Tale

Beginning in May, every time debit MasterCard cardholders use their debit cards to make a purchase they will be automatically entered for a chance to win the Grand Prize of $10,000. MasterCard will provide a fairy godmother to help the winner spend the money. Participating member banks are guaranteed to have at least one First Prize winner from their debit cardholder base, estimated value of at least $100. Print and radio spots have been created to support this promotion along with member statement inserts, postcards, tent cards, posters and customizable web pages for member Internet sites. Several weeks ago during the telecast of the Grammy awards on February 23, MasterCard launched a Priceless execution called Fairy Tale, which follows the same theme and supports debit MasterCard.

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Old Kent Gets Hi-Tech

InteliData Technologies Corp. and Old Kent Bank announced the customer launch of Old Kent’s new Internet banking and bill payment system using InteliData’s ‘Interpose’ software suite. Using the ‘Interpose’ software suite Old Kent provides its customers with secure access to real-time account information and the ability to transfer funds and pay bills electronically using standard HTML browsers. Bill payment is handled through the ‘Interpose’ Bill Payment Warehouse, which allows Old Kent to process customer debits and payments to commercial accounts internally and to outsource external payments to third-party processors.

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Paycheck Accept

Equifax announced that Price Chopper has selected Equifax Check Solutions ‘PayCheck Accept’ fraud prevention system to combat payroll check cashing fraud. ‘PayCheck Accept’ reduces fraud by performing basic consumer identification authentication while validating Social Security numbers and comparing the check payee to identification information in the Equifax credit database. In January, Equifax launched ‘PayNet Secure’, giving merchants the exclusive ability to authenticate the identity of consumers and authorize credit card or check payment on their web sites.

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CompuBank Ranks

CompuBank announced that it ranks #1 in Banks Online by SmartMoney Magazine. CompuBank received top ranking for: Account Information, Security, Fees and Extra Products and Services. CompuBank’s first place ranking in the fee category is based on the fact that most of its services are free, including free basic checking, ATMs, wire transfers, bill payment, direct deposits, copies of checks and statements. CompuBank awards customers with ClickMiles for new accounts and a variety of everyday banking transactions.

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Amex’S New CIO

American Express announced the appointment of Glen Salow to the position of Executive Vice President and Chief Information Officer. He succeeds Allan Loren, who will retire from the Company in early May. Mr. Salow has been with American Express since 1997, most recently as Senior Vice President of Technology for the Company’s E-commerce activities and the U.S. Card and Travel Services businesses.

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Beindorff Promotion

PlanetRx.com, Inc. ([http://www.PlanetRx.com][1]), an Internet healthcare destination for commerce, content, and community, Wednesday announced the promotion of Michael A. Beindorff, 47, from executive vice president and chief operating officer to president and chief operating officer.

“Our company is growing very rapidly and Michael is a big part of that growth,” said William J. Razzouk, CEO of PlanetRx.com. “Michael is a proven leader. His contribution thus far has been a key element in PlanetRx.com’s overall success and will continue to be as he takes on the expanded role of president.”

In his new capacity as president and chief operating officer at PlanetRx.com, Mr. Beindorff will oversee all marketing, business, product, brand development and customer satisfaction efforts. During his tenure at PlanetRx.com, Beindorff has already led the creation of a new, multi-million dollar advertising campaign — part of an overall marketing effort focused on customer acquisition, customer retention, and brand building.

“It has been a great experience contributing to the growth of PlanetRx.com in these past six months,” said Michael Beindorff, president and chief operating officer at PlanetRx.com. “I’m looking forward to accelerating that success as we continue our mission to become the nation’s premier online healthcare destination for products, information, and personalized services.”

Mr. Beindorff joined PlanetRx.com in October after serving as president and CEO of e-Visa, Visa’s Internet and electronic commerce division. Prior to joining Visa, he spent 15 years with the Coca-Cola Company where he held a variety of positions, including vice president of marketing and vice president of advertising for Coca-Cola USA.

For the past four years, “Advertising Age” has named Mr. Beindorff one of the Power 50 Marketers in America. He currently serves on the Board of Directors for Purpletie.com and on the Board of Advisors for iPIX, Achex, kinzan.com, and Latitude 90.

About PlanetRx.com

PlanetRx.com, Inc. ([http://www.planetrx.com][2]), a leading Internet healthcare destination for commerce, content, and community, delivers a convenient, personalized, and informed health and beauty shopping experience. With products and services ranging from prescriptions to personal care items to the latest medical information, PlanetRx.com gives consumers the ability to manage their own healthcare in a convenient and secure environment. PlanetRx.com is one of four online pharmacies to have received the Verified Internet Pharmacy Practice Sites (VIPPS) seal of approval from The National Association of Boards of Pharmacy (NABP). Headquartered in South San Francisco, Calif., the company operates its own pharmacy and distribution center in Memphis, Tenn., to ensure the highest quality customer care.

[1]: http://www.planetrx.com/
[2]: http://www.planetrx.com/

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G&D – CIT

Increasingly sophisticated fraud techniques and the escalating losses to both individuals and organizations from card fraud and theft have created a real need for a timely solution to card security. Yesterday, G&D Security Card Systems and CIT Inc. announced that they have formed an exciting strategic alliance to promote the use of Smart Cards in North America and the International marketplace. Together G&D and CIT will develop and market end-to-end solutions based upon integrated circuit cards.

The migration from traditional magnetic stripe cards to computer chip based technology, especially in the Financial and Health sectors, is gathering momentum in the North American marketplace. G&D and CIT aim to position themselves to usher North American customers into the new age of Smart Cards with their exclusive security architecture.

“Our market leading Smart Card capabilities and CIT’s proven expertise in transactional internet solutions will enable consumers to benefit from the security and portability of Smart Cards that are already well accepted in other parts of the world”, says Jim R. Frye, President of G&D.

Under this agreement G&D will consider CIT to be the preferred professional services and custom application development partner and CIT in turn will consider G&D to be their preferred Smart Card supplier. This alliance will bring integration of Smart Card technology into the existing infrastructure in the Financial and Health sectors. Together, these two companies will be able to provide full business solutions involving G&D’s leading Smart Card technology and CIT’s expertise in Transactional eCommerce Solutions and Professional Services.

Initially, their joint efforts will focus on customers in North America and the Middle East but will grow to encompass other global markets. A current project underway is the development of the next generation of internet banking with Smart Cards to provide the highest level of security in the market today. There is also a potential in health care for secure fraud proof applications.

“With the partnership between CIT and G&D, we will be able to offer, first within North America, and then globally, market leading end-to-end e-Commerce solutions that enable our clients to capitalize on the business potential of smart card technologies”, says Ashraf Zaki, President and CEO of CIT.

About G&D Security Card Systems

Founded in 1962, G&D is North America’s largest supplier of secure plastics and is the only manufacturer producing cards in all three NAFTA countries. G&D is the dominant supplier of consumer payment Smart Cards in Canada, in addition to leading the market for secure magnetic stripe cards. They are part of a global company Giesecke & Devrient who are an international high-tech company and worldwide leader in cards used for transactions and identification. Giesecke & Devrient were recently rated as the number 1 provider of microprocessor cards worldwide (Nilson Consumer Payment Report). G&D have been at the forefront of smart card technology for over 25 years and have operations worldwide incorporating advanced software applications and the latest chip technology.

About CIT Incorporated

CIT is an international technology services and solutions company, with a corporate focus in the emerging world of Internet/Intranet enterprise architecture, transactional based software and e-Commerce technologies. Our mission is to enable our clients to capitalize on the business potential of emerging IT technologies. CIT is committed to quality, flexibility and delivery excellence, combined with proprietary innovative cost reduction methods. By applying the principles of our proven PMAX Methodology and the “best of breed” technologies, we have built successful and award winning solutions for a host of Fortune 1000 clients. This client list includes institutions from North America, Latin America, Europe, and the Middle East. With corporate headquarters in Toronto, Ontario Canada, CIT also operates an Advance Technology Centre in Cairo, Egypt. Visit CIT online at [http://www.citglobal.com][1].

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

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