MUZO a.s., Europay International, and ACI have completed implementation of the infrastructure to enable all Czech Banks using MUZO’s services to process chip cards by March. The migration is the result of collaboration between Europay International and ACI Worldwide under the umbrella of the ‘Europay/MasterCard Chip Vendor Services Program’. The project in the Czech Republic represents ACI’s third major EMV implementation in the Europe/Middle East/Africa region.Details
Sonny Martin has joined National Processing Inc. as executive vice president of Product Management for the Merchant Services Division. National Processing Inc. is the second largest provider of merchant credit card processing services with over $100 billion in Visa and MasterCard volume for 1999.
Martin previously served as President of Client Merchant Services for First Data Corporation. Martin’s focus was to manage bank relationships for merchant processing. He was also responsible for the conversions of the merchant business before assuming responsibility for client merchant services.
Before working with First Data Corporation, Martin served as executive vice president and general manager of NPC’s Merchant Card business for over 25 years.
“Sonny is legendary in the credit card industry. We are very excited to have someone of Sonny’s caliber driving our product management initiatives and assisting NPC in other strategic endeavors,” said Tom Wimsett, President and CEO of NPC.
During 2000, Martin will primarily be focused on a major initiative to enhance NPC’s on-line reporting capabilities and back office processing functions.
“While NPC has always been a leader in the card business their commitment and focus on its customers and product capabilities are stronger than ever,” said Sonny Martin.
Martin resides in New Albany, IN with his wife Linda. He has two daughters.
NPC is the leading provider of merchant credit card processing and outsourcing solutions. NPC supports over 470,000 merchants, representing one out of every six Visa and MasterCard transactions processed nationally. Approximately 88 percent of the company is owned by National City Corporation (NYSE: NCC), a Cleveland based $87 billion bank holding company.Details
ACS announced Tuesday that its Government Solutions Group has been awarded the National Credit Card Servicing contract by the Federal Deposit Insurance Corporation. This basic ordering agreement includes an initial term of three years and two one- year options.
“We are very pleased with this award decision,” says William A. Woodard, Group President of ACS’ Government Solutions Group. “We have more than 20 years of direct, hands-on experience supporting Government loan programs.”
Work on the NCCS contract is to begin immediately under our ACSessLink(TM) service offering, which includes credit card and debit card servicing supported by state-of-the-art technology. Services include: processing, collecting and recording account payments, charges and credits; automated authorization and clearing advances; “lockbox” interface for collection processing; cardholder statement processing, mailing and PIN initiation; fraud detection; card replacement; and, merchant processing services.
ACS has subcontracted with Fiserv, Inc. of Brookfield, Wisconsin to provide the software and credit card processing. Fiserv, using a leading credit card processing system called VisionPlus, currently supports numerous credit card clients through its data center and operations in Orlando, Florida.
ACS is a Fortune 1000 company based in Dallas, Texas, with operations within North America, Central America, South America, Europe, and the Middle East. ACS is an integrated, future-focused company with a rich history of innovative work and long-term relationships. ACS has proven customer retention, broad and vertical expertise, and personalized attention and flexibility. ACS provides the full range of information technology services including business process outsourcing, electronic commerce, technology outsourcing, professional services and systems integration. The company’s Class A common stock trades on the New York Stock Exchange under the symbol “ACS”. Visit ACS on the Internet at [http://www.acs-inc.com].
VISA is launching a new integrated marketing program for its NASCAR partnership, under the umbrella theme, “VISA. It’s Everywhere NASCAR Fans Want To Be.” VISA’s NASCAR marketing program will include national television advertising; national consumer sweepstakes; targeted promotions, both on-track and with the automotive aftermarket; and online activities, including a VISA preference program at the NASCAR.com online store. VISA will launch its NASCAR sweepstakes for 2000 on May 1.Details
Hypercom Corporation , a global provider of electronic payment solutions announced the appointment of T.K. Cheung as president, Hypercom Network Systems. Cheung will be directly responsible for managing and directing the operations of this Hypercom division. He will report to George Wallner, president and CEO of Hypercom Corporation. Cheung previously served as vice president of product management. He succeeds Paul Wallner.
“T.K. Cheung is a seasoned professional in the telecommunications and electronic payment industries who has contributed significantly to Hypercom’s innovative and highly popular custom network management solutions,” said George Wallner, president and CEO, Hypercom Corporation. “His appointment is directly in line with our goal of bringing to market the most advanced, value-added electronic payment solutions.”
Cheung is a 22-year veteran of the telecommunications and electronic payments industries. Prior to joining Hypercom in 1991, Cheung served with American Express for 13 years, most recently as telecommunications network consultant. In that position, he was based in Hong Kong and responsible for directing that company’s telecommunications efforts in Asia-Pacific and Australia.
Hypercom Network Systems designs and supplies custom networking solutions to retail and financial enterprises. Hypercom Network Systems products include the IEN foundation, framework and full coverage network management system, IENView(TM).
Hypercom Corporation (NYSE:HYC) is a global provider of end-to-end electronic payment solutions, including card payment systems, peripherals, network products, software and e-commerce payment solutions that add value at the point-of-sale for consumers, merchants and acquirers.
Headquartered in Phoenix, Ariz., Hypercom markets its products in more than 70 countries through a global network of affiliates and offices in Puerto Rico. Argentina, Australia, Brazil, Chile, China, Germany, Hong Kong, Hungary, Japan, Mexico, Russia, Singapore, Sweden, the United Kingdom and Venezuela. Hypercom’s Internet address is [www.hypercom.com].
PaySys International Inc., a global leader in financial transaction processing applications, announced that it has appointed Rick Robida as executive vice president and general manager of the Vision Systems Group. Robida will be responsible for leading the growth of the company’s consumer-based products and services division.
“We are excited that Rick Robida has joined PaySys, as his extensive experience in credit card processing management will be a valuable asset as we grow the company in new directions,” said Stephen B. Grubb, chairman, president and chief executive officer.
Previously, Robida served as executive vice president of First Data Corporation. He directed the international business development of First Data Resources, the company’s card processing business unit, and oversaw marketing and sales, internal and external communications, and strategic planning.
Prior to joining First Data, Robida was president of Speer & Associates, Inc. (S&A), an Atlanta-based financial services consulting firm. In his 10 years with S&A, Robida managed consulting engagements for major financial institutions as well as for national and regional networks and bankcard associations. This included evaluation of strategic business plans and retail delivery systems, as well as operational and financial assessments involving branch operations, credit card, debit card, retail lending and ATM activities.
Prior to joining Speer & Associates, Inc., Robida was general manager of card products for the Bank of Nova Scotia in Toronto. He was responsible for all credit and debit card activities, including the merchant and private label programs, as well as ATM and shared networks.
Previously, Robida was chairman of the board of VISA Canada and was a member of the VISA International board of directors. He served as a member of various VISA International advisor groups, including VISA Gold, Operations, and the ATM Network advisors.
During his career, Robida was also responsible for developing the Ideal Financial Network, which was the first interbank-shared ATM network in Canada, and was a leader in the formation of Interac, Canada’s national shared ATM/POS network. Robida has also served as a director of PLUS System Inc., and has been chairman of the Canadian Bankers Association, Bank Card Committee, and the Canadian Payments Association ATM Standards Committee. He has also served on a number of International Standards Organization committees and sub- committees.
Robida was educated at the University of Western Ontario in London and Seneca College in Toronto. He has been a frequent lecturer and has served on the faculty of the ABA National School of Bank Card Management. Robida has had articles published on bankcard and EFT topics in Canada, the United States and abroad.
PaySys International Inc., is the established leader in financial transaction processing applications, having developed innovative software products such as CardPac. The company’s industry leading VisionPLUS suite integrates Internet capabilities with retail, bankcard and consumer loan payment processing, all in one system. Headquartered in Atlanta, PaySys has offices worldwide and clients in more than 30 countries on six continents. For more information, visit the company’s web site at [http://www.paysys.com].
PaySys and CardPac are trademarks and VisionPLUS and TRAMS are registered trademarks of PaySys International, Inc. Brands mentioned in this document are trademarks or registered marks of their respective owners and must be treated as such.
Low credit card adoption and poor product fulfillment infrastructure represent major barriers for Internet businesses looking to tap into the Latin America Internet commerce market. According to a new study by Jupiter Communications, the potential Latin America online commerce market is around $8.3 billion with 66 million online users within Latin America, concentrated in Brazil, Mexico, and Argentina. The study, released yesterday at a Jupiter conference in Miami, says the barrier of low credit card ownership across the region creates an opportunity for banks and other financial institutions to facilitate Internet commerce, which is a trend now beginning to emerge.Details
Another online loan and credit card broker hits the Street today. LendingTree, Inc. will make its initial public offering this morning under the symbol “TREE” on the Nasdaq National Market. The IPO consists of 3,650,000 shares of common stock priced at $12 per share. If demand is strong enough, LendingTree will sell an additional 547,500 shares, bringing the IPO’s total proceeds to $50 million. The IPO is expected to draw a lukewarn response due to the performance of other online financial services such as E-loan. LendingTree says it has processed 700,000 consumers loan requests on its Web site since it began operations in 1998. The company closed 12,412 loans worth $439.6 million in the fourth quarter, up from 9,540 loans valued at $266.2 million in the third quarter. LendingTree has 90 participating lenders in its network offering mortgages, home equity loans, automobile loans, credit cards, and personal loans.Details
CheckFree and TransPoint announced this morning they have entered into a definitive merger agreement. TransPoint is an electronic billing and payment joint venture between First Data and Microsoft. Citibank is a minority equity investor. Under terms of the deal, TransPoint’s owners will receive 17 million shares of CheckFree’s common stock. Based on yesterday’s closing price for CheckFree, the deal is valued at $1.2 billion. When the transaction closes in four to six months, Microsoft, First Data and Citibank together will own 23% of CheckFree. As part of the transaction, CheckFree will receive an exclusive five-year relationship with Microsoft to provide electronic billing and payment technology used in applications and services Microsoft develops. During that time, Microsoft will guarantee a minimum of $120 million in revenue to CheckFree. First Data also will enter into a five-year relationship with CheckFree, during which time First Data and CheckFree will market and use each other’s products and services. First Data will provide at least $60 million in revenue and/or cost savings to CheckFree. Immediately prior to closing the transaction, Microsoft, First Data and Citibank will collectively contribute $100 million to TransPoint; these funds will be transferred to CheckFree at closing. Microsoft and First Data each will gain a seat on CheckFree’s Board of Directors. Selected for the positions are Ric Duques, chairman and CEO of First Data, and Lewis Levin, who in addition to being president and CEO of TransPoint is a vice president at Microsoft.Details
Staples and U.S. Bancorp have teamed up to offer a ‘VISA Business Card’. The card is the first credit card to be offered by an office supplies retailer and one of the only business cards to offer rewards with no annual fee. Staples is the number one issuer of VISA small business cards in terms of sales volume and number of cards issued. Under the VISA program, cardholders will earn points redeemable for free Staples products and services, free airline tickets, restaurant and movie certificates, hotel accommodations and rental car services. The points are accrued at the company level and can be used by the business or gifted to employees or customers. Nationwide rollout and marketing of the new card is underway in all 840 U.S. stores. Card applications will be available online at Staples.com beginning March 1. The Staples private label credit card is currently issued by Associates.Details
The AICPA (American Institute of Certified Public Accountants) has selected Paymentech, the nation’s second largest acquirer and processor of credit card transactions, to provide exclusive credit card processing for 340,000 members and their respective firms and businesses. Paymentech has developed a business-to-business electronic payment program that will enhance cash flow.
AICPA participants in this special program can accept credit card payments at discounted rates while enjoying premium service levels. All AICPA members are eligible to receive reliable processing with low, qualified swipe rates through Paymentech’s merchant services.
The credit card program enables AICPA members to offer their clients and customers flexible payment options. Members can pre-authorize payments, such as monthly retainers, so recurring charges are automatically billed and collected. Card acceptance also allows AICPA practitioners to assist clients and customers in managing pay plans and expense tracking.
AICPA members can reduce overhead expenses and save time on management of billing, statements and receivables. AICPA members may also request a competitive analysis of their current processing costs. To obtain additional information about the AICPA program, members should contact Paymentech at 1-800-824-4313.
Founded in 1985, Dallas-based Paymentech ([http://www.paymentech.com]) delivers premier electronic payment solutions for merchant acquiring, point-of-sale processing and commercial card programs. The nation’s second largest processor and acquirer of credit card transactions is also a leader in Internet payments. Paymentech annually processes approximately three billion total transactions and $93 billion in bankcard sales volume.
American Express announced yesterday it has purchased 4,562 ATMS from EDS. The machines are located in 7-Eleven stores in 27 states and Washington, DC. With the acquisition AmEx will become the second largest ATM owner in the U.S. with 8,762 machines. American Express also announced Tuesday that it will begin branding its entire ATM network this year with the name ‘ATM Axis’. Each machine will carry the ‘ATM Axis’ logo and the American Express blue box logo by the end of the year. Under terms of the deal, EDS will continue to provide transaction processing, ATM driving and information management services for the machines.Details