$5,000 ATM

Diebold added the ‘CashSource Plus 100’ to its family of low-cost cash dispensers yesterday. The ‘100’ is geared towards low-transaction volume, off-premises locations. The ‘CashSource Plus 100’ features a monochrome LCD display and a single multimedia cassette with divert cassette, which can be upgraded to add a second cassette for dispensing revenue-generating media. To enhance security, the cash dispenser also includes an optional tilt switch and self-contained audible siren. The ‘100’, looks similar to the ‘CashSource Plus 200’ and ‘CashSource Plus 400’ models. Diebold says the new machine will be available later this summer.

Details

Air Quatro Certified

IVI announced Monday that its ‘Air Quatro’ is the first wireless product to receive certification for use on the Cantel AT&T AirPOS service, which uses Rogers Cantel’s Mobitex Data Network. The ‘Air Quatro’ is a wireless POS controller that allows a merchant to send its financial transactions directly to a bank through the use of packetized radio frequency. IVI says it will now aim for untapped electronic payment markets such as taxis, limousines, home and office delivery and stadium concessionaires.

Details

Partners First Card Bonds

Partners First Holdings priced $750 million each of three-year and five-year credit card asset backed securities yesterday.    The three year transaction included $528 million of Class A floating rate asset backed securities and $133 million of Class B floating rate asset backed securities that accrue interest at LIBOR+10 basis points and LIBOR+31 basis points, respectively. The five year transaction included $528 million of Class A floating rate asset backed securities and $133 million of Class B floating rate asset backed certificates that accrue interest at LIBOR+13 basis points and LIBOR+36 basis points, respectively.

Details

CreditFYISM Launched

Fair, Isaac and Company and Net Earnings unveiled ‘CreditFYISM’ yesterday, an easy-to-use service that enables small businesses to make faster, more informed decisions about extending credit tothe small businesses they serve. Available for less than $15, the service is substantially more affordable than traditional methods of credit evaluation. CreditFYI is the first product offered by the newly formed strategic alliance between Fair, Isaac and Net Earnings and is targeted to the more than 10 million small businesses in the U.S.

Details

Magic Line’s 98 EFT Conf

Magic Line’s Midwest EFT Technology Conference for the financial services industry will get underway tomorrow in Grand Rapids, Michigan.  The theme of this year’s conference and its two and a half days of workshops will address the greatest challenges in the financial services industry today. National experts will detail how to efficiently and cost-effectively balance the growing number of new technologies with the most important aspect of business: the human elements of quality and customer service.

Details

VISA’s Smart Purse

VISA International has the “midas touch” in venture capital investing after watching an experimental $10 million fund grow to more than $200 million in four years. According to this week’s issue of the San Francisco Business Times, VISA has had only one “dog” among its fifteen investments over the past four years. Among VISA’s biggest winners are Yahoo Inc. and VeriSign. VISA participated in the early funding of both companies. The Business Times predicts VISA’s next big winner will be Nuance Communication of Menlo Park, CA. Nuance has successfully commercialized voice recognition software and is expected to go public shortly. VISA joined Nuance’s first round of outside venture capital funding when the company made plans to integrate its technology into the telephone response systems of VISA’s members. The typical VISA investment is about $1 million.

Details

VeriFone & Contact/Contactless Smart Cards

VeriFone and On Track Innovations Ltd. announced last week that they have signed an agreement to market and integrate OTI’s ‘EYECON’ smart card technology with VeriFone’s products. The agreement calls for the development of contactless smart card products for a wide range of smart card solutions and markets, including government, healthcare, petroleum and retail. Last week’s agreement is actually an extension of an existing alliance between OTI and VeriFone’s Petroleum/C-Store Division on the ‘VeriPass’ program. ‘VeriPass’, which uses contactless smart card technology from OTI, is a control, monitoring, and administration system for the automated customer authorization, tracking and billing for vehicles at retail gas stations. OTI says it has 8 years of extensive experience working with microprocessor-based contactless cards.

Details

Wireless Golf Transactions

As the ‘Motorola Western Open’ gets underway this morning at the Cog Hill Golf and Country Club in Lemont, IL, Motorola, VeriFone, Global Payment Systems and American Mobile are jointly providing a wireless EFT-POS solution for merchandise sales at the event. A total of five wireless locations will be set up throughout the golf course. VeriFone POS terminals will process and verify credit card transactions using a Global Payment Systems retail payment application. The terminals will transmit to and receive transaction data from Global Payment Systems via Motorola ‘Series 500 Integrated Wireless Modems’ over American Mobile’s ‘ARDIS’ two-way, nationwide data network. ‘ARDIS’ uses a ‘DataTAC’ system from Motorola. The wireless solution can deliver a six-to-ten second transaction. Motorola said Friday the companies are also working together on nationwide wireless EFT-POS pilots in other industries, including taxi cab, limousine service and tow-truck businesses in the Midwest, and itinerant merchant businesses on the West Coast and in Alaska.

Details

Digital Sigs in UK

Barclays Bank and CertCo launched a smart card-based digital signature service last week called ‘Barclays Endorse’. The UK government is the first to make use of the service by enabling individuals to register new businesses via the Internet in a six-month trial which commenced Friday. The trial is part of the country’s Better Government Programme.  CertCo’s ‘CertAuthority Solution’ technology provides Barclays with the “root” certificate authority technology needed to ensure that the digital signatures on the forms are just as reliable as manually signed paper documents. UK citizens who are starting their own businesses are required to register with three government departments: Contributions Agency, Inland Revenue and HM Customs and Excise. Using smart cards and readers in their home personal computers or in select Barclays branches, the ‘Barclays Endorse’ trial enables users to submit streamlined electronic intelligent forms,  digitally sign the documents and transmit them to the government.

Details