Chase Manhattan confirmed Monday it has signed a license agreement with ProCard, Inc. which enables Chase to sub-license ProCard’s commercial card management software and services to its commercial purchasing card clients. Chase will immediately offer ProCard’s ‘PVS 4’, and ProCard’s new Internet reporting package, ‘PVS Net’, to its clients. Under terms of the agreement ProCard will also provide comprehensive technical and help desk support for Chase purchasing card clients using the software.Details
Triton Systems, Inc. announced Monday at the Bank Administration Institute’s “BAI” Retail Delivery Show strong early orders for its Mako Cash Dispenser, an innovative new cash-dispensing automated teller machine that will be available in the first quarter of 1999. According to Ken Paull, Triton Systems’ Vice President of Sales and Marketing, high demand for the Mako Cash Dispenser validates Triton’s strategy of providing a new kind of ATM that makes it feasible for banks to operate ATMs in lower volume locations. The Mako ATM is less expensive than other alternatives — both in terms of initial investment and ongoing maintenance — yet it has high-end features and is “advertising ready” for banks wishing to create new revenue streams by advertising on their network of ATMs.
As the leading provider of cash-dispensing ATMs for off-premise locations, Triton developed the Mako ATM in response to several important banking industry trends. First, more ATMs than ever before are deployed in off-premise locations, 84,000 as of August 1998 (Bank Network News survey). Because ATMs are available to consumers in an increasing number of locations, overall transaction volumes per ATM are declining. Bank Network News (September 11, 1998) indicates that monthly transactions per ATM declined 22.28 percent between 1996 (the year surcharging was allowed) and 1998. As a result, banks are looking for ways to profitably own and operate ATMs in lower volume locations.
“Triton pioneered the off-premise ATM market four years ago with the introduction of the first true cash-dispensing ATM based on dial-up transmission technology,” said Mr. Paull. “Now we’re working to make locations where daily foot traffic is relatively low (500 people or fewer) an attractive market for banks.”
Other important trends are emerging as ATMs proliferate, according to Mr. Paull. Some customers are avoiding fees by opting to use ATMs without associated surcharges, and many off-premise ATM owners are beginning to reduce or eliminate fees as a competitive tactic. Many banks are also concerned with legislative backlash to ATM surcharges. Even taking these uncertainties into account, surcharging will continue to be an important revenue source. It may, however, become less reliable as a sole means for banks to finance off-premise ATMs. To compensate, banks are looking for ways to become less dependent on surcharges as their only revenue source for profitable ATM deployment and maintenance.
One of the new revenue opportunities that will soon be available to banks is advertising. According to Saul Caprio, director of marketing for Portland, OR-based ATM distributor Card Capture Services, Inc. (CCS), banks can generate attractive net revenue streams by running ads on their ATMs. “Potential net revenue per month could average between $2,500 and $5,000 for a bank with 50 ATMs handling 1,000 transactions per month,” explained Caprio.
Foreseeing the need to augment surcharging as a sole revenue source, Triton developed the Mako Cash Dispenser to enable banks to add advertising on a lower-cost machine. Mako is equipped with a color monitor and capacity for displaying graphically rich advertising screens. The ability to use Mako as an advertising medium gives businesses and banks an effective new means of reaching customers and provides an attractive new revenue source from their network of ATMs.
In addition to providing new ways of generating revenue, Triton designed the Mako ATM to make ATM deployment feasible in lower volume locations. In addition to a low initial purchase cost, the Mako ATM reduces ongoing maintenance costs, including streamlining of the cost of cash replenishment and capital. Triton Connect software can further reduce ongoing maintenance costs by allowing banks to access and control the Mako ATMs remotely from a centralized location.
“As the ATM market moves into lower volume locations, we’re helping banks succeed in this new market by continually enriching the functionality of our ATMs, while driving costs down,” added Mr. Paull.
About Triton Systems
As the leading manufacturer of cash-dispensing ATMs for off-premise locations, Triton Systems is committed to redefining and leading the retail market for cash delivery systems. As the third largest manufacturer of ATMs and ATM management software, Triton has been named two years in a row to Inc. Magazine’s “Inc. 500” ranking of the largest privately held companies in the U.S. Triton was also named one of America’s top 25 most successful small manufacturers by Industry Week Growing Companies in November 1998.
Triton’s product line includes the industry-leading 9600 series cash-dispensing ATMs, with various communication network interfaces such as CDPD. Additional products include the Triton Connect software package for accessing and controlling ATMs from a centralized location, ATMjr Demonstrators and ATMjr Plus CAS (Card Activation System) for financial institutions, SuperScrip terminal, the new Mako Cash Dispenser and the VendMate sidecar, which accepts cash and dispenses vending items such as tickets, certificates, and phone cards.
Triton ATMs are in use in over 20,000 locations in the U.S., with recent expansion into Canada, Latin America and other regions throughout the world. The company is headquartered in Long Beach, Mississippi. For more information, visit the Triton Systems website atDetails
Open Market, Inc. said Monday it has partnered with Internet Commerce Services Corporation, Cardservice International, and Epsilon to offer merchants a fast and easy way to commerce-enable their Web site in time for the holiday gift-giving season. The ‘eChristmas’ program combines Open Market’s Internet commerce software, ‘Transact’, available on an outsource-basis from ICOMS’ ‘MerchantTrax’ Internet commerce services, rapid credit card approval processes from Cardservice International, and targeted direct mail from Epsilon. The ‘eChristmas’ program is available immediately from ICOMS and involves a $100 sign-up fee, $100 per month service fee (with a one-month minimum) and $0.95 per transaction (exclusive of regular merchant credit card fees).Details
National Australia Group has purchased a five per cent stake in the share capital of Mondex UK. NAG operates in the UK through its subsidiaries: Yorkshire Bank, Clydesdale Bank and Northern Bank. Along with three other major Australian banks, it also holds the Mondex franchise for Australia and is a participant in Mondex franchises in the US, Ireland and Vietnam. NAG will join Midland Bank, NatWest and Bank of Scotland as institutions that are eligible to issue Mondex cards in the UK.Details
Atomic Software, Inc. has entered into a reseller agreement with Omron Systems, Inc., of Schaumburg, Ill., which provides Omron with Atomic’s new Authorizer for Windows 95/98/NT Restaurant electronic payment software.
The Right Touch for Windows, Omron’s newest Windows-based touch screen POS/back office software for chain and independent restaurants, is seamlessly integrated with the Authorizer electronic payment application to process credit card authorizations and perform the deposit of funds into the restaurant’s bank account.
Authorizer for Restaurants is a multi-user product that can run on up to 24 order-entry stations using a single modem. It eliminates the need for a separate credit card authorization terminal and receipt printer at every workstation, and their high monthly cost of operation. Authorizer for Restaurants is certified by the major transaction processors in the US, and also dials directly to American Express, providing restaurant owners access to lower transaction costs. Authorizer also incorporates support for CDPD (Cellular Digital Packet Data) wireless communications resulting in ultra-fast transaction times (5-6 seconds) for fast food and other high-speed oriented service environments.
“This is a new market for our Authorizer software, and we are really excited about having a company with Omron’s quality reputation as our first integrated reseller” states Thomas McCole, President of Atomic Software. “This three-year agreement will quickly establish our restaurant product as the category leader with national accounts.”
According to Mike Radowski, VP of Marketing for Omron Systems, Inc., “Atomic has been responsive and supportive throughout the development process and we are pleased to have a dependable company and reliable product as part of The Right Touch for Windows application” Omron Systems, Inc., is a leading supplier of turnkey and integrated retail systems for chain and independent retailers in Hospitality and General Merchandise. In North America, Omron markets its solutions through a distribution network of over 150 resellers and on a direct basis to major retail chains.
Omron Systems, Inc., a subsidiary of the Omron Corporation, a $5.5 billion worldwide leader in the design and production of automated systems, is a global provider of complete point-of-sale solutions for both restaurants and retailers. In North America, Omron distributes its products both directly and through its quality dealer network of over 150 resellers.
Atomic Software is a privately held corporation that specializes in electronic commerce and payment solutions for retailers, mail/phone order companies, Internet merchants, hotels and restaurants. For more information, contact Glynda Murphy at 770 417-1228, or visit our Web-site at [www.atomic-software.com].
S2 Systems, a leading global supplier of electronic commerce software, announced Monday that its OpeN/2 software for online transaction processing will drive Colombia’s new Acueducto project. Acueducto provides electronic payment of water bills using debit cards at kiosks and ATMs–the first such system in Colombia.
Scheduled for launch in the fourth quarter of 1998, Acueducto will be one of the first OpeN/2 installations in Colombia. Plans call for the OpeN/2 software, running on a Windows NT platform, to handle up to 500,000 transactions monthly.
“This first use of OpeN/2 in Colombia significantly strengthens S2’s already substantial presence there and in Latin America,” said Ivan Koon, president of S2 Systems. “Working with our Colombian distributor, LASC (), our many bank customers in Colombia have proven the speed and reliability of our electronic commerce software, setting the stage for our involvement in the Acueducto project.”
“Acueducto launches a new industry, and fulfills the consumer’s need for convenient, secure payments,” said Carlos Serna, Project Manager from Acueducto. “The use of ATMs is already very strong in Colombia compared to the rest of Latin America. For the first time, consumers can pay their water bills and obtain a receipt almost anywhere they use an ATM or debit card.” The governmental project’s full name is Empresa de Acueducto y Alcantarillado de Bogota. An estimated 2000 ATMs are installed in ATH and Servibanca ATM networks currently.
While some Colombian banks offer electronic payments for some utilities, transaction volume is small. Most consumers avoid using the mail service for bill payments, preferring to pay in person and receive a receipt at either a utility’s branch office or at some bank branches that offer the service.
The Latin American market now encompasses 475 million people and a gross domestic product of $41.3 trillion, offering long-term growth for financial institutions, especially in electronic commerce. S2’s Colombian customers already include ColteFinanciera, Concasa, BanColombia, ATH switch network, Servibanca, Banco Superior, Red Multicolor, Banco de Bogota, BanCafe, Computec and Banco Industrial Colombiano.
OpeN/2 software runs on Hewlett-Packard(tm) HP-UX(tm), Microsoft(R) Windows NT(R), and IBM(R) AIX. S2 Systems software drives local, regional and nationwide ATM or POS networks in 60 countries. The company provides ATM/POS software to banks with up to 2,000 ATMs, and to service bureaus processing as many as 4 million transactions daily. S2 Systems software supports electronic funds transfer, online banking applications or loan payment services, file transfer, EC messaging and EC gateways between legacy systems via Internet or Web-based technologies.
S2 Systems, Inc., is a leading supplier of business electronic commerce software and professional services. S2 focuses on EC gateway, electronic banking/payments, health care transaction processing and customer relationship marketing systems for financial services, retail, healthcare and evolving industries. With headquarters in Dallas and offices in Atlanta, Hong Kong, London, Maarssen and Melbourne, S2 products are licensed by more than 600 customers in 60 countries. S2 Systems is a wholly owned subsidiary of Stratus Computer, Inc..
Visit S2 Systems’ web site at [www.s2systems.com] or phone 972/458-3800, fax 972/458-3876. The company’s headquarters are located at 15301 Dallas Parkway, Suite 600, Dallas, Texas 75248-4683.
Deluxe Data International and Australia’s St. George Bank are using ‘Deluxe VISA Cash Service’ to issue stored value smart cards to the 16,500 members of the South Australian Cricket Association. This is the bank’s first commercial implementation of the ‘VISA Cash’ technology. The St. George smartcard breaks new ground in combining a number of applications on one card: ‘VISA Cash’, membership, access to the ground and the option of a VISA credit card.Details
Diebold rolled out two new cash dispensers yesterday at the BAI Retail Delivery ’98 event. Diebold says its new ‘1075ix’ walk-up and ‘1077ix’ drive-up cash dispensers will create new opportunities for ATM deployers to profitably install units in unique, off-premises locations. The ‘1075ix’ is a freestanding, walk-up cash dispenser which features a weather and vandal-resistant housing and high-security chest. Because no additional structure is required, a ‘1075ix’ can be placed for one-third to one-half the cost of other units. Due to its very small footprint, the ‘1075ix’ can be installed on a sidewalk or at other exterior, off-premises locations such as outside of grocery stores, amusement parks, plazas and other outdoor environments.The ‘1077ix’ is a moderately priced, drive-up cash dispenser which also features a small footprint. It can be installed in conventional through-the-wall locations, in freestanding enclosures or in enclosures at non-traditional locations like self-service gas pump islands, fast-food pick-up lanes and other retail drive-through installations.Details
First Union Corp. announced yesterday it will deploy the Mr. Payroll ‘Check Cashing Machines’ in about 10 locations along the Eastern seaboard. Mr. Payroll Corp., a unit of Cash America International, produces the world’s first self-service check cashing machine. The ‘CCM’ employs facial biometrics to verify the identities of customers. The machine permits even those without bank accounts to cash their own checks, with no ATM card or photo ID required.Details
Global Payment Systems introduced ‘iGlobal Banker’ yesterday, a cost effective Internet banking system developed for small to mid-sized financial institutions. ‘iGlobal Banker’ is an electronic portal for delivering services such as: detailed account access and reporting, income and expenditure tracking, cash management, credit card reporting, as well as the capability to link to insurance, imaging, investment and mortgage services. A standalone module for processing bill payment transactions either internally or through Global Payment Systems shared processing services is also available. Clients may also use ‘iGlobal Banker’ to collect, analyze and distribute information for cross-sell opportunities and to automate internal processes and procedures through an in-bank intranet. It streamlines the flow of information between bank personnel, departments and branches and can be used for exception processing, COLD storage, inventory control and credit scoring.Details
International passengers of United Airlines will now be able to access automated duty free shopping while in-flight. PenRight! Corp. and World Duty Free Inflight announced Monday they have completed a worldwide rollout of 800 pen-based handheld terminals for United Airlines. Flight attendants equipped with the PenRight! based handheld terminals will be able to automatically process thousands of in-flight POS transactions by credit card, cash, coupon or voucher, from items selected from the duty free in-flight gift catalog. At the passenger’s seat, the flight attendant selects the desired products from the ‘IDFS500’s’ LCD display and scans the product’s corresponding bar code. Payment is then collected and stored on the handheld’s internal RAM memory card, and an itemized receipt is then printed from the unit internal thermal printer and handed back to the customer. The ‘IDFS500 is manufactured by 4P Mobile Data Processing.Details
InterWest Bank, a $2.45-billion institution with headquarters in the Pacific Northwest, is Internet banking leader First Data Direct Banking’s 60th client, the two companies announced Monday.
In addition to choosing NetPrecision Home Banking for its transactional Internet services, InterWest is the first NetPrecision bank to pilot the TransPoint Internet bill delivery and payment system.
“We’re very excited to have this opportunity to introduce bill presentment service to the Northwest. We operate in a market area that is anxious to make use of this latest convenience in electronic banking, and believe our delivery of TransPoint will help attract many new customers to InterWest,” said Clark W. Donnell, executive vice president and chief administrative officer of InterWest Bank.
With 60 clients on board, First Data Direct Banking has already exceeded its goal of adding one new client per week this year.
“With its selection of NetPrecision Home Banking and TransPoint bill payment, InterWest Bank joins the leaders in online banking,” said Randy Kahn, president of First Data Direct Banking. “Their participation as a TransPoint pilot bank will help move a key element of Internet banking forward and further demonstrates our commitment to bringing next-generation technology to our clients.”
Through NetPrecision, InterWest will offer its customers online access to account balances and statement detail, fund transfers, stop payments and check orders. With TransPoint, the bank will enable its customers to receive and pay bills electronically.
TransPoint, formerly MSFDC, expects to introduce its end-to-end Internet bill delivery and payment service in early 1999. InterWest joins some of the largest financial institutions in the United States and a number of major billers who are already participating in the pilot program.
First Data Direct Banking’s NetPrecision 30/30 Home Banking product, introduced in February, enables financial institutions to launch a secure, fully transactional Web site in just 30 days for an upfront cost of only $30,000.
About InterWest Bank
InterWest Bank is a subsidiary of InterWest Bancorp Inc., a Washington State-chartered bank holding company with headquarters in Oak Harbor.
InterWest Bancorp is currently the holding company for four banking subsidiaries: InterWest Bank, Pacific Northwest Bank, Pioneer National Bank and Kittitas Valley Bank N.A. InterWest Bank operates 40 branch offices throughout central and western Washington.
InterWest’s total consolidated assets were $2.45 billion as of Sept. 30, 1998. InterWest Bank can be found on the Internet at [www.interwestbank.com].
About First Data Direct Banking
First Data Direct Banking builds and hosts customized Internet financial service solutions for financial institutions of all sizes.
Using the NetSpeed process, financial institutions can have fully functional, branded Web sites up and running in just 30 business days with the NetPrecision system.
Los Angeles-based First Data Direct Banking ties leading-edge online financial services partnerships and template, custom-built or existing Web sites into transaction processing provided by electronic payments processing leader First Data Corp.
Direct Banking can be found on the World Wide Web at www.netprecision.com.
Atlanta-based First Data Corp. is a global leader in payment systems, electronic commerce and information management products and services. First Data and its principal operating units process the information that allows millions of consumers to pay for goods and services by credit, debit or smart card at the point of sale or over the Internet; by check or wire money.
For further information about First Data, visit the company on the Internet at [www.firstdatacorp.com].