IDT Corporation Thursday announced that it has negotiated exclusive patent rights for a versatile pre-paid calling card in Europe. Under the agreement, IDT will act as the central clearinghouse for collecting royalties from distributors of pre-paid calling cards covered by the national patents corresponding to European application No. 0572991. Under the patent, IDT has obtained the exclusive rights to license the use of pre-paid Personal Identification Numbers (PINs) for pre-paid phone cards in Austria, Belgium, Switzerland, Germany, Denmark, Spain, France, United Kingdom, Greece, Ireland, Italy, Liechtenstein, Luxembourg, Monaco, Netherlands, Portugal, and Sweden. The patent also covers the exclusive rights to recharge pre-paid phone cards as well as transfer balances between calling card users.Details
Fiserv, Inc. announced Thursday that it has acquired Alliance ADS, according to Leslie M. Muma, President and CEO of Fiserv. Based in California, ADS is a provider of imaging solutions to the financial services and staffing industries. Terms of the transaction were not disclosed.
“Alliance ADS complements the current suite of image-based solutions offered through our ImageSoft Technologies business, and provides an opportunity for us to expand into other markets including insurance, trust and staffing services,” said Thomas A. Neill, President of the Fiserv Industry Products & Services Group. “ADS has a solid reputation within the industry, and a strong base of technological expertise that will expand and enhance our imaging capabilities. With this latest acquisition, Fiserv will be even better positioned to serve the increasing demand for advanced image-based technology solutions.”
Based in Redwood Shores, California, ADS was formed in 1987. The company designs, develops and markets front-end image platform solutions to the financial services and staffing industries. These solutions include image-based forms processing and automated data entry products utilizing ICR/OCR technology to capture high-volume handwritten and machine written information from a variety of documents. The benefits of such applications are the reduction of manual entry of form information, allowing for fully automated, intelligent forms processing.
“We are excited by the opportunity to add our talents and resources to Fiserv,” said Ronald Jacobs, President of ADS. “In addition to our synergistic imaging solutions, the Fiserv economies of scale will accelerate our combined product development for the benefit of our growing client base.”
Fiserv, Inc. (NASDAQ:FISV) is an independent, full-service provider of integrated data processing and information management systems to the financial industry. As a leading technology resource, Fiserv serves more than 7,000 financial service providers worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies, mortgage banks and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv also can be found on the Internet at [www.fiserv.com.]
The Independent Institute, a scholarly public policy institution, Wednesday published an open letter to President Clinton signed by 240 of the nation’s leading economists addressing runaway antitrust protectionism. Citing recent high-profile U.S. Department of Justice litigation against Microsoft, Intel, Cisco Systems, Visa and MasterCard, the letter says, “where antitrust authorities respond to these protectionism demands, the workings of markets are short-circuited. Antitrust protectionism means that market decisions about how to compete for consumers’ favor are displaced by bureaucratic and political decisions.”Details
Intuit Inc. and Discover Financial Services, Inc. announced Thursday that Discover Cardmembers can now download their Discover Card account statement information to Quicken 99 personal finance management software. This new service is a further expansion of Intuit’s existing relationship with Discover Card. This past tax season, Discover Cardmembers who used TurboTax tax preparation software enjoyed the option of charging any federal income tax due to their Discover Card accounts.Details
HyperSecur Corporation announced yesterday that Charles P. Villeneuve has been appointed to the Board of Directors and President of the Company. He is a Montreal-based entrepreneur and financier.
Mr. Villeneuve’s primary activities in the past five years have been in the investment advisory and capital formation businesses. He served at various times as the President of First Atlantic Securities, Inc., Globex Management Limited and Kyoto Securities, Ltd. all based in Nassau, Bahamas. Kyoto Securities in 1996 provided $8 million of financing ($3 million equity and $5 million convertible bond) to VASCO Data Security International, Inc. (OTC BB: VDSI). VASCO is a leading provider of authentication security to financial institutions worldwide. In 1998, he incorporated HyperSecur Corporation (Canada) that was acquired by HyperSecur Corporation last month.
Mr. Villeneuve received a Health Science degree from the College Bois de Boulogne, Montreal, in 1978 and an Ophthalmic Lenses Specialty degree from College St. Jerome, Montreal, in 1980. He received a Computerized Management System technical degree from the University of Quebec, Montreal, in 1981. Mr. Villeneuve is a member of the International Tax Planning Association, London, England.
Last month, HYURA acquired HyperSecur (Canada) that represented that its major asset is the HyperProximity(TM) chip. The hyper proximity technology was introduced earlier this month at the STMicroelectronics (NYSE: STM) booth at the CardTech/SecurTech Conference held in Chicago. The technology will be implemented in the ST16HF52 contactless smart card from STMicroelectronics.
The chip is a dual proximity level contactless solution based on ISO 14443 Type B. HyperSecur plans to market contactless smart cards, which use radio frequencies, to carry out secure transactions at speeds up to 10 times faster than contact cards. Last week HYURA announced that it had retained CIBC Investment Banking as its exclusive advisor to arrange financing for the Company.
HyperSecur Corporation plans to exploit this high-tech state-of-the-art technology with strategic partnerships to develop the hardware and software necessary to market the new technology to card manufacturers, system integrators and end users. The final product will be a new contactless chip and smart card based operating system supporting an innovative security structure. Presently, there is very limited use of the HyperProximity technology. At this time the Company has not fully evaluated the market potential of the technology and therefore is not sure of its size.
The Class A common stock of the corporation is traded on the Over-The-Counter Electronic Bulletin Board (“OTCBB”) system with the symbol: HYURA.Details
The SEC currently fields more than 100 complaints a day about illegal Web activity. In 1998 alone, the National Consumers League received 7,752 Internet fraud complaints. To help surfers identify a scam and avoid getting bilked, PC World’s July consumer report, “The Online Con,”, on newsstands June 15, outlines the top four Internet swindles — and what consumers can do to protect themselves. They scams to look out for include online auction fraud, pump and dump stock manipulation, multilevel marketing and credit card swindles.Details
Milberg Weiss Bershad Hynes & Lerach LLP yesterday announced that a class action lawsuit has been commenced in the Superior Court of the State of California for the county of San Francisco on behalf of Providian credit card cardholders. The case arises out of practices which are reportedly the focus of an investigation being conducted by the San Francisco District Attorney’s office and reported consumer complaints.Details
National Data Corporation yesterday announced that Paul R. Garcia has been named Chief Executive Officer of its NDC eCommerce line of business.
Garcia most recently served as president and chief executive officer of Productivity Point International, a leading provider of information technology training to major corporate clients. Prior to that, he was group president of First Data Card Services. He previously served as chief executive officer of First Financial Bank and chief executive officer of National Bancard Corporation (NaBANCO) which he joined in 1982, following payment services responsibilities with Chase Manhattan, Equifax and Citicorp. He has served on the Global, U. S. and Latin America Boards of Directors of MasterCard International.
In announcing the appointment, Robert A. Yellowlees, chairman of National Data Corporation, said, “Paul brings an enormous breadth of experience to our business. He has an excellent record of innovative leadership and has a view of the market opportunity that is very compatible with our own. I’m excited about the opportunity to work with him as he and Tom Dunn, NDC eCommerce’s chief operating officer, lead us to new levels of growth.”
Commenting on his new position, Garcia said, “NDC eCommerce is well- positioned for growth across the full spectrum of payment services. This market position, as well as NDC’s reputation for quality, offers an exciting opportunity. I am delighted to be taking on this role and look forward to working with Bob Yellowlees, Tom Dunn and the rest of the executive team in being the industry leader.”
Yellowlees added, “With this announcement, we have continued our program to build world class executive depth in both our Health and eCommerce businesses. This will permit each to take full advantage of new market opportunities in the years ahead.”Details
DoughNET.com, a full service money management site for teenagers, announced yesterday that it is now online and ready to enter the $140 billion e-commerce-for-kids market. DoughNET.com is aimed at 13-18 year olds that are usually excluded from online purchasing and other financial transactions because they do not have credit cards. DoughNET.com has teamed up with companies such as REEL.com, CDNOW, Urban Decay, Alloy Online, Egghead.com, ShopSports.com, Activision, dELiAs.cOm and Fossil. The website offers the technology that allows the teens to buy, save, budget and donate while learning about investing in the future. Parents open real accounts for their teens that function as virtual debit cards. The transactions will be deducted in real time from the DoughNET.com account. No consumer debt and no overdrawn accounts to worry about. DoughNET.com is designed to encourage teens to be financially independent –but with guidance from their parents.Details
MetroPlus Communications Technology, Inc., a division of NP Energy Corporation , is pleased to announce the signing of a marketing agreement with The Ultimate Cigar Company.
Ultimate announced today the launching of its Web Access Card program for the United States and Canada. Web Access Cards are a direct marketing tool distributed through convenience stores. It allows Internet based companies to market in the real world in a measurable and cost-effective manner. Customers purchase the Web Access Card and register for fulfillment on the Internet through a Web site called Red Hot Access.com. After registering the customer is hyperlinked to the participating Internet company’s Web site. Offers can be price discounts, savings or special access to selected areas of a Web site.
MetroPlus, based in Vancouver, BC, is building its own marketing and licensing system for phone-to-phone Internet Telephony. Internet Telephony uses the Internet to send audio between two telephones in real time. MetroPlus has signed a Letter of Intent for a sixteen-city network with IPVoice.com (OTC:BB:IPVC), a developer and producer of unique proprietary state of the art software and hardware solution for use in IP Telephony. IPVoice.com’s premier product is an Internet Gateway named “TrueConnect(TM)”, a fully Y2K compliant gateway that allows users to conduct real time full duplex, high quality two-way voice communication over the Internet.
Using the IPVoice.com system, MetroPlus will be able to generate its own prepaid Internet Telephony phone card. Marketing and distribution of the phone card is critical to the Company. The Web Access Card program has the potential to reach thousands of convenience stores through distribution with Ultimate and its partners. Ultimate is underway with marketing the program to convenience store chains in the United States and Canada.
MetroPlus will have the opportunity to market Internet Telephony to 30 major markets across the United States and Canada. MetroPlus will begin marketing in the cities as soon as a final agreement is reached with IPVoice.com and the 30 gateways in place.
“In developing our Internet Telephony strategy, we felt two aspects were very critical to its success. First, we needed to partner with a company providing superior technology. IPVoice.com is that company. Secondly, we needed to have a marketing plan that was measurable and effective. We feel the Web Access Card program has the potential to be a huge success in the market place. We wanted to get our marketing plan together and feel we can offer a viable program,” said Mark Jensen, Marketing Director for MetroPlus.
MetroPlus has a Letter of Intent with IPVoice.com to be a TruePartner Master Distributor, a license program for operating Internet gateways through IPVoice.com. MetroPlus is granted exclusive territories in Canada, Washington and Oregon. There are 16 primary cities involved in the agreement. MetroPlus will have active gateways in the next twelve months in Canada in Vancouver, Calgary, Edmonton, Winnipeg, Toronto, Montreal and Halifax. In Washington State, MetroPlus will operate gateways in Seattle, Tacoma, Spokane, the Tri Cities and Vancouver. In Oregon, the company will be in Albany, Beaverton, Eugene and Portland.
Signing of the final agreement between MetroPlus and IPVoice.com will take place in June.Details
elcom.com, inc., and MasterCard International, Wednesday announced they have entered into a global marketing agreement under which they will co-market elcom.com’s Windows NT-based PECOS Procurement Manager Automated Procurement System internationally for use with MasterCard’s Corporate Purchasing Card. Elcom International, through elcom.com, will utilize PECOS Procurement Manager, its Automated Procurement System, with MasterCard International’s Corporate Procurement Card program, resulting in a fully automated electronic purchasing solution which uses MasterCard as its primary payment methodology. Under this new agreement, MasterCard and elcom.com will first target companies outside the United States.Details
Yesterday, Visa USA and Triple Crown Productions, renewed their partnership agreement. Visa will continue to be the exclusive worldwide sponsor of the Visa Triple Crown which includes broadcast branding, signage and becoming the “Preferred Card” at all tracks. Visa will also continue sponsorship of the $5 million Visa Triple Crown Challenge Bonus until 2005. All Visa Member banks and merchants will continue to recieve pass-through rights to execute promotions surrounding the Visa Triple Crown races.Details