Cardline articles from April 2005

Cardline archives from April 2005

SURVEY: GETTING THROUGH COLLEGE NOW REQUIRES A CREDIT CARD ALONG WITH BRAINS AND HARD WORK.
April 1, 2005... A survey by Minnesota State Colleges & Universities found that a large percentage of its students are using credit cards to pay for tuition and books. The report also raises questions about the financial limits of low-interest, federal- and...

GLOBAL CASH FILES FOR AN IPO TO RAISE $471.5 MILLION.(Global Cash Access Holdings Inc.)(Brief Article)
April 1, 2005... Global Cash Access Holdings Inc., the Las Vegas-based processor of ATM and EFT transactions at casinos, has filed for an initial public offering to raise $471.5 million. The company also provides credit card-cash advances. In a U.S. Securities...

HIMC AGREES TO BUY CARD PROCESSOR FAST TRANSACT.(Brief Article)
April 1, 2005... HIMC Corp. has entered into an agreement to purchase card processor Fast Transact Inc. for cash and stock, both companies announced recently. "The combination of the two companies' assets will strengthen HIMC's competitive position and enable...

CREDIT UNION 24 SIGNS DEAL WITH ATM EXPRESS.(Brief Article)
April 1, 2005... Credit Union 24 network has signed a deal with the ATM Express Inc., the Billings, MT-based ATM deployer and processor. ATM Express will give CU24 member cardholders access to 10,000 ATM Express ATMs. The agreement does not include providing...

NOVA RENEWS AGREEMENT WITH REGIONS BANK.(Nova Information Systems Inc., Regions Financial Corp.)(Brief Article)
April 1, 2005... Nova Information Systems recently announced that it has extended its processing agreement with Regions Financial Corp. for its merchant referral business that's marketed through Regions Bank and Union Planters Bank offices ova, which is based...

MBNA ADDS REWARDS FEATURE TO NASCAR CARD.(NASCAR RacePoints visa card)(Brief Article)
April 1, 2005... MBNA Corp. has added a rewards feature to its NASCAR RacePoints Visa card that's sure to appeal to NASCAR's rabid fans. Cardholders can earn one point for every dollar spent, and when they accumulate enough points, they can redeem them for...

FIRST DATA SIGNS AN AGREEMENT WITH INGRIAN NETWORKS.(TeleCash)(Brief Article)
April 1, 2005... First Data Corp. this morning announced that its German card-processing subsidiary, TeleCash, has selected Ingrian Networks Inc. to provide an extra layer of security for credit card numbers stored in TeleCash's database. Ingrian Networks...

CHARMING SHOPPES BUYS CITIGROUP CARD PORTFOLIO.(Brief Article)
April 1, 2005... Charming Shoppes Inc., the women's apparel retailer, has purchased a private-label credit card portfolio from Citigroup Inc. to support Charming Shoppes' Catherines brand, Kirk Simme, Charming Shoppes' vice president of credit, tells CardLine...

PERSONAL BANKRUPTCIES GROW IN EASTERN CANADA.(Brief Article)
April 1, 2005... The number of personal bankruptcies is declining in Western Canada, but growing in Eastern Canada, according to a report by CIBC World Markets economist Benjamin Tal. On a national basis, consumer bankruptcies are on the rise again, but only...

ASTORIA FEDERAL SAVINGS REACHES AGREEMENTS WITH THREE METAVANTE COMPANIES.(Astoria Federal Savings and Loan Association)(Brief Article)
April 1, 2005... Metavante Corp. has signed a multichannel agreement with Astoria Federal Savings that involves three of Metavante's companies, both businesses say YCE Corp. will provide data processing and electronic funds transfer marketing services for...

NEXT ESTATE COMPLETES PREPAID DEBIT NETWORK.(Next Estate Communications Inc.)(Brief Article)
April 1, 2005... Next Estate Communications, the Monrovia, CA-based retailer of prepaid Visa and MasterCard debit cards, has completed implementation of its Green Dot Financial Network that allows individuals to reload the cards, a spokesperson tells CardLine...

EURONET BUYS PREPAID AIRTIME SUPPLIERS.(Euronet Worldwide bought assets of Telerecarga, Dynamic Telecom and ATX Software)(Brief Article)
April 1, 2005... Euronet Worldwide has bought the assets of Telerecarga, a Spanish supplier of prepaid wireless top-up services, and those of Dynamic Telecom, a U.S. prepaid service provider. The Leawood, KS-based electronic payments processor and ATM network...

GREAT HARVEST BREAD EXPECTS A GIFT CARD WILL BRING IT A LOT OF DOUGH.(Brief Article)
April 1, 2005... Gift Card Solutions recently announced that it offering gift cards for Great Harvest Bread Co.'s 200 stores in 40 states. "Great Harvest is in the midst of a rapid expansion, and we felt that we would benefit from offering our new and repeat...

REWARDS NETWORK CEO RESIGNS; COMPANY WILL REPORT A FIRST-QUARTER LOSS.(George S. Wiedemann)(Brief Article)
April 1, 2005... Rewards Network Inc., the Chicago-based credit card loyalty program for restaurants and hotels, this morning announced that president and CEO George S. Wiedemann had resigned. And partly because of Wiedemann's resignation, and the departure of...

DISCOVER'S PARENT SHAKES UP MANAGEMENT, BUT IT'S NOT EXPECTED TO AFFECT DISCOVER.(Discover Financial Services)(Brief Article)
April 1, 2005... Morgan Stanley, parent company of Discover Financial Services, issuer of the Discover card, announced a management shakeup this morning. But credit card analyst Michael Auriemma, president of Auriemma Consulting Group, says he doesn't believe...

GIFT CARDS PROVIDE A LIFT FOR CANADA'S JANUARY SALES.(Brief Article)
April 1, 2005... Canadian retail sales rose in January as shoppers used gift cards that they had been given at Christmas to go on a buying spree, Statistics Canada reports. The Canadian government agency says retail sales in January were up by 2% compared to...

BRAZILIAN BANK LAUNCHES PRIVATE-LABEL CREDIT CARD WITH SUPERMARKET CHAIN.(Rede Comper de Supermercados, Banco Brasileiro de Descontos S.A.)(Brief Article)
April 1, 2005... Brazilian bank Bradesco has teamed up with supermarket chain Rede Comper de Supermercados to launch the CompCard private-label credit card in Brazil. The card, which offers a 40-day, interest-free period, is being targeted at Comper's...

LG ELECTRONICS CHOOSES MASTERCARD.(MasterCard International Inc.)(Brief Article)
April 1, 2005... South Korea-based LG Electronics will use MasterCard as its corporate payment card, Purchase, NY-based MasterCard International announced today. LG is the first Asian company to implement the MasterCard Multinational Corporate Program and joins...

CONGEMI HEADING UP FIRST DATA'S STRATEGIC INDUSTRY RELATIONS.(Ronald V. Congemi )(Brief Article)
April 1, 2005... First Data Corp. today announced the appointment of Ronald V. Congemi as senior vice president, strategy industry relations. Congemi joined First Data as CEO of debit services following the company's acquisition of processor Concord EFS Inc....

STUDY REWARDS DOUBLE CARD USAGE.(credit cards)(Brief Article)
April 1, 2005... Credit cards that include a rewards program more than double card usage, according to a report released yesterday by Atlanta-based Synergistics Research Corp. Cardholders who have rewards on a credit card tend use the cards an average of 12.6...

ATM MANUFACTURER NCR LOSES CEO TO HEWLETT-PACKARD.(Mark Hurd)
April 1, 2005... NCR Corp., the world's largest ATM manufacturer, has lost its president and CEO to one of the world's largest personal computer makers. Mark Hurd, 48, resigned both positions to become CEO of Palo, CA-based Hewlett-Packard Co CR's board named...

BILL WOULD LIMIT CARD MARKETING TO WASHINGTON STATE STUDENTS.(Brief Article)
April 1, 2005... A bill that potentially would limit marketing by credit card issuers on campuses of Washington state's public colleges and universities has cleared a committee in the Washington State House of Representatives and could be voted on by the full...

JCB TO LAUNCH CREDIT CARD IN CHINA.(JCB Company Ltd., Bank of China)(Brief Article)
April 1, 2005... Japan-based JCB Co. Ltd. announced today plans to launch a new credit card in China next month in collaboration with Bank of China, one of the country's four big banks. The bank and JCB signed a licensing agreement in June and recently received...

AIR CANADA'S HOLDING COMPANY CONSIDERS OPTIONS FOR AEROPLAN.(ACE Aviation Holdings)(Brief Article)
April 1, 2005... ACE Aviation Holdings, the newly created holding company for Air Canada, says it is considering options for Aeroplan, the Canadian airline's popular loyalty scheme. "ACE is examining a range of alternatives to maximize the value of its...

BRAZILIAN BANK LAUNCHES DEBIT CARD WITH PREAPPROVED LINE OF CREDIT.(Banco Brasileiro de Descontos S.A.)(Brief Article)
April 1, 2005... Brazilian bank Bradesco has launched the CDC Bradesco Visa Electron debit card, offering a preapproved line of credit. The card has a variable interest rate, starting at 2.1% per month, which Bradesco claims is the lowest in the Brazilian...

CERTEGY WINS CHECK GUARANTEE CONTRACT.(Brief Article)
April 1, 2005... Certegy Inc. signed a check-guarantee contract with Gottschalks, a regional department-store chain based in Fresno, CA. Certegy will provide the check service for 60 department and apparel stores in California, Washington, Alaska, Oregon,...

RBS NAMES VICE PRESIDENT OF OPERATIONS.(RBS National Bank appoints Susie Gleeson Buffam)(Brief Article)
April 1, 2005... RBS National Bank, the U.S. credit-card issuing arm of UK-based Royal Bank of Scotland Group, today named Susie Gleeson Buffam vice president of operations. Before joining Bridgeport, CT-based RBS, Buffam was vice president of global consumer...

ELAN BUYS CARD PORTFOLIO.(SECNY Federal Credit Union, Elan Financial Services)(Brief Article)
April 1, 2005... Elan Financial Services recently announced that it had purchased SECNY Federal Credit Union's credit card portfolio for an undisclosed price lan, which is part of U.S. Bancorp, also formed an agency bank agreement with the credit union, which...

HYPERCOM'S ALEXANDER RESIGNS, THE SECOND TOP OFFICER TO STEP DOWN THIS MONTH.(Chris Alexander)
April 1, 2005... Chris Alexander, chairman, president and CEO of Hypercom Corp., resigned today, the company's second top officer to step down this month. Hypercom's Chief Financial and Administrative Officer John W. Smolak resigned March 21 (CardLine, 3-22)....

IS GENPASS ABOUT TO BE SOLD.(GTCR Golder, Rauner L.L.C. plans to sell Genpass Inc.)
April 1, 2005... There is widespread speculation among ATM industry experts that Genpass Inc.'s majority owner GTCR Golder Rauner is close to selling the company, but GTCR Golder Rauner isn't talking. Industry sources tell CardLine's sister publication...

ALEXANDER WAS THINKING ABOUT RETIRING.(Chris Alexander resigned from Hypercom Corp.)
April 1, 2005... Hypercom Corp. chairman, president and CEO Chris Alexander may have been planning to retire at the end of this year but decided to step down early to allow a new CEO to choose his or her own chief financial officer, Scott M. Tsujita, senior...

RECEIVER CLOSES ATM ALLIANCE CORP.(Brief Article)
April 1, 2005... A court-appointed receiver pulled the plug Wednesday on ATM Alliance Corp.'s operations as part of a civil lawsuit filed by the U.S. Securities and Exchange Commission. The lawsuit alleges that ATM Alliance bilked investors out of more than $1...

FTC CRACKS DOWN ON BOGUS DEBT-SETTLEMENT COMPANIES.
April 1, 2005... The Federal Trade Commission is stepping up its efforts to crack down on companies that prey on consumers in financial difficulty. On Wednesday, the commission ordered fines and injunctions on three debt-management companies that allegedly...

MASTERCARD CANADA NAMES NEW BOARD MEMBERS.(Brief Article)
April 1, 2005... MasterCard Canada today seated five new board members, including three from the acceptance side of the business. James Baumgartner, president and CEO of Moneris Solutions; Drew Brown, president of Paymentech Canada; and Jordan Cohen, president...

METRIS WILL MAKE A $75 MILLION PREPAYMENT ON TERM LOAN.(Metris Companies Inc.)(Brief Article)
April 1, 2005... Metris Companies Inc. tomorrow will make a $75 million prepayment on a $300 million term loan, Scott Fjellman, the company's treasurer, tells CardLine today. The loan has a balance of $225 million, and, after Metris makes the payment, the...

ICMA WELCOMES NEW MEMBERS.(International Card Manufacturers Association, Africard (Pty) Ltd., Emirates National Plastic Industries)(Brief Article)
April 1, 2005... The International Card Manufacturers Association today announced that four new members have joined the Princeton Junction, NJ-based association. Three of the new members are principal members, or card manufacturers, and one is a personalizer...

NATIONAL RETAIL FEDERATION BLASTS INTERCHANGE INCREASES.(credit card company rates for retailers)
April 8, 2005... Mallory Duncan, senior vice president and general counsel for the National Retail Federation, says Visa's and MasterCard's interchange rate increases that took effect today are provoking retailers to take counter steps. He gives as an example...

BONUSES INCREASE FOR TOP MASTERCARD EXECUTIVES.(MasterCard International Inc.)(Brief Article)
April 8, 2005... MasterCard International's top executives received higher bonuses in 2004 than in 2003, according to MasterCard. Robert W. Selander, president and CEO of the Purchase, NY-based payments company, was awarded a $2.5 million bonus for 2004, a 24%...

TRIPLE-DES DEADLINE TO PASS WITHOUT MASTERCARD ENFORCEMENT.(MasterCard International Inc.'s enforcement of data encryption standard)(Brief Article)
April 8, 2005... MasterCard International has eased off of its April 1 deadline requiring all ATMs connected to its Cirrus ATM network to comply with the Triple DES (Data Encryption Standard.) A spokesperson for MasterCard says 99% of the association's 23,000...

DEBT BURDEN THREATENS YOUNG PEOPLE.(Brief Article)
April 8, 2005... The high consumer debt burden of 18-to-34-year-olds threatens the long-term future of the generation, according to a report from Demos, a New York-based policy group. Statistics from the Federal Reserve's Survey of Consumer Finances, released...

UNSECURED CREDIT CARD DEBT ACCOUNTS FOR MOST CHAPTER 13 SALES.(sale of bankrupt accounts)(Brief Article)
April 8, 2005... The sale of bankrupt accounts is a thriving but highly specialized business. Although the market is beginning to diversify, Chapter 13 unsecured credit card debt still accounts for most sales, Shawn McVity, managing partner of New York-based...

TRM REPORTS EXPANSION OF ATM NETWORK.(Brief Article)
April 8, 2005... ATM operator TRM Corp. has reported rapid expansion in its ATM network across the U.S., Canada and the UK. The expansion brought higher income for 2004 as a whole, but reduced earnings per share by 88.9% in the final quarter, the company says....

EXPERIAN WINS ANTI-MONEY LAUNDERING SOFTWARE CONTRACTS IN LATIN AMERICA.(Banca Afirme and Banco del Pichincha)(Brief Article)
April 8, 2005... Experian says it has signed contracts to install its anti-money laundering and regulatory compliance software at two Latin American banks-Banca Afirme in Monterrey, Mexico, and Banco del Pichincha in Ecuador. With the installation of Assist--ck...

REPORT: MORGAN STANLEY AGREES TO SELL DISCOVER.(Discover Financial Services)(Brief Article)
April 8, 2005... A wire service is reporting this afternoon that the board of directors of Morgan Stanley, parent company of Discover Financial Services, issuer of the Discover card, decided to sell the card unit during a weekend meeting. A spokesperson for...

MASTERCARD OFFERS SELANDER $10 MILLION TO STAY.(Robert W. Selander, MasterCard Inc.)(Brief Article)
April 8, 2005... MasterCard Inc.'s board of directors modified Robert W. Selander's employment contract, agreeing to pay him $10 million to retain his services, according to proxy filing made by the Purchase, NY, payments company with the U.S. Securities and...

MASTERCARD SHAREHOLDERS WILL VOTE ON EXECUTIVE BONUSES.(MasterCard Inc.)(Brief Article)
April 8, 2005... MasterCard Inc. shareholders will vote next month on two proposals that, if approved, would award the payments company's executive officers bonuses if certain company goals are met. MasterCard's compensation committee is asking shareholders to...

TSYS TAKES THE LEAD IN FORMING A TRADE ASSOCIATION TO PROMOTE OPEN-LOOP PREPAID CARDS.(TSYS Prepaid)
April 8, 2005... TSYS Prepaid, the TSYS Inc. subsidiary that processes prepaid Visa- and MasterCard-branded prepaid cards, plans to form a trade association to promote the growth of open-loop prepaid cards, Anil D. Aggarwal, the company's CEO, tells CardLine...

HSBC CANADA RENAMES HOUSEHOLD.(Household Financial Corporation's name changed to HSBC Financial Corporation)(Brief Article)
April 8, 2005... Canadian consumer credit company Household Financial Corporation has changed its name to HSBC Financial Corporation. "The re-branding of Household Financial Corporation completes the integration process that began when HSBC Holdings acquired...

OKI LAUNCHES BIOMETRIC-CAPABLE ATM.(OKI Electric's ATM-BankIT)(Brief Article)
April 8, 2005... Japan's OKI Electric has announced the ATM-BankIT, a cash dispenser that offers advanced security features including biometrics to prevent fraud. The ATM includes a light-shielding filter to protect PIN numbers from being seen by prying eyes....

SMALL BUSINESS CARDS OFFER GROWTH POTENTIAL.
April 8, 2005... U.S. small businesses represent a growth opportunity for credit card issuers, according to a report by TowerGroup. The consultancy, which is owned by MasterCard Advisors, says that two-thirds of U.S. small business owners use credit cards for...

MORGAN STANLEY SAYS IT WILL SPIN OFF DISCOVER.(Discover Financial Services)
April 8, 2005... Morgan Stanley announced late this afternoon that it is spinning off Discover Financial Services, issuer of the Discover card, settling for the moment at least the turmoil that has engulfed Morgan Stanley's management. "It's time for Discover...

ANTITRUST, TAX ISSUES COULD LIMIT MORGAN STANLEY'S OPTIONS.(Morgan Stanley's Discover Financial Services spin off)
April 8, 2005... Despite Morgan Stanley's announcement yesterday that the company plans to spin off Discover Financial Services, issuer of the Discover card (CardLine Special Bulletin, 4-4), speculation continues to swirl that an acquisition could occur...

RETAILERS COULD BID FOR DISCOVER.(Discover Financial Services)(Brief Article)
April 8, 2005... Four days after Visa and MasterCard rebuked the National Retail Federation for complaining about the card associations' latest interchange rate increases, Mallory Duncan, NRF's senior vice president and general counsel, says things may have...

DISCOVER HAS GOOD PROSPECTS ON ITS OWN.(Discover Financial Services)(Brief Article)
April 8, 2005... Discover Financial Services has beat long odds to become a top-10 issuer and network, and it could stand on its own away from parent Morgan Stanley, Scott Strumello, a consultant with Auriemma Consulting Group Inc., tells CardLine. Wall Street...

DISCOVER SPIN-OFF LIKELY WOULD NOT AFFECT DEBIT PLAYERS.(Discover Card Services Inc.)(Brief Article)
April 8, 2005... Morgan Stanley's decision to spin off its Discover credit card unit into a separate company likely will have little effect on debit card issuers or processors, despite Discover's purchase earlier this year of the Pulse electronic funds transfer...

ANALYSTS HAVE MURKY VIEW OF DISCOVER'S FUTURE.(economic aspects of Discover Financial Services)(Brief Article)
April 8, 2005... Stock analysts differ on what the future holds for Discover Financial Services, issuer of the Discover card. But all seem to agree that it is unlikely another card issuer would buy the company. Morgan Stanley late yesterday announced plans to...

BUSINESS REPORT POINTS TO STEADY ECONOMIC GROWTH.(National Association of Credit Management's Credit Manager's Index for March 2005)(Brief Article)
April 8, 2005... The economy is growing at a steady pace, according to credit managers in the service and manufacturing sector surveyed for the National Association of Credit Management's Credit Manager's Index for March 2005. The CMI is a monthly survey that...

HSBC FINANCIAL CREATES MASTERCARD PLATFORM IN CANADA.(MasterCard International Inc.'s contract)(Brief Article)
April 8, 2005... HSBC Financial Corp., the Canadian consumer credit provider formerly known as Household Financial, says it has issued 1 million private-label store cards in Canada. It also plans to offer MasterCard-branded credit cards. "We have 90 retailers...

ALLIANCE DATA SIGNS AGREEMENT WITH HANOVER DIRECT.(Alliance Data Systems' contract)(Brief Article)
April 8, 2005... Alliance Data Systems Corp. today announced signing a seven-year agreement to provide a private-label card program for Hanover Direct Inc., a catalog and Web retailer of home furnishings, accessories, and men's and women's apparel. Under the...

MASTERCARD PROMOTION WITH BARRY BONDS NEVER GOT TO FIRST BASE.(MasterCard International Inc.'s promotional campaign)(Brief Article)
April 8, 2005... At the beginning of the year Major League Baseball approached MasterCard International, an official sponsor of baseball, about focusing this year's promotion on slugger Barry Bonds and his quest to pass Babe Ruth and Hank Aaron on the all-time...

SOME FEDERATED STORES ACCEPT DISCOVER.(Discover Card Services Inc. and Federated Department Stores Inc.'s contract)(Brief Article)
April 8, 2005... Some Federated Department Stores started accepting Discover cards in late March, and the rest of Federated's 950 stores will begin accepting the cards this spring, CardLine has learned. Discover CEO David Nelms disclosed the deal in an investor...

INTERIM HYPERCOM CEO WILL RECEIVE $400,000 ANNUALLY.(William E. Keiper)(Brief Article)
April 8, 2005... William E. Keiper, who was named interim chairman, president and CEO of Hypercom Corp. following the unanticipated retirement of Christopher S. Alexander, will be paid $400,000 a year and receive 50,000 shares of restricted stock, Hypercom said...

MASTERCARD RELEASES PIN-DEBIT FIGURES FOR MARCH.(MasterCard International Inc.)(Brief Article)
April 8, 2005... New PIN-debit figures released by MasterCard International show its PIN-debit networks, Cirrus and Maestro, are supported on 562.2 million debit cards with PIN functions globally as of March. That is an 8% growth from March 2004, according to...

POPE'S FUNERAL DELAYS HOUSE DEBATE ON BANKRUPTCY BILL.(Pope John Paul II, Congress. House)(Brief Article)
April 8, 2005... The U.S. House of Representatives has put off debate on credit card industry-backed bankruptcy reform legislation so congressmen can attend the funeral of Pope John Paul II on Friday. The debate had been scheduled for tomorrow. A spokesperson...

CYOTA UNVEILS NEW ANTI-FRAUD PRODUCT.(eSphinx)(Brief Article)
April 8, 2005... Cyota Inc., the anti-fraud firm, today launched eSphinx, a product designed to offer financial institutions stronger consumer authentication to prevent ID theft and fraud Sphinx is capable of authenticating online banking activities beyond the...

HORIZON WINS CONTRACT TO UPGRADE CITIGROUP ATM SCREENS.(Horizon Technology L.L.C.'s contract)(Brief Article)
April 8, 2005... Horizon Technology Group has won a contract from Citigroup Inc. to design and manufacture liquid crystal display kits to retrofit to Citigroup's ATMs in North America. The liquid crystal display screens will replace the existing cathode ray...

IRS IS INVESTIGATING 50 CREDIT-COUNSELING AGENCIES.( Internal Revenue Service)(Brief Article)
April 8, 2005... The Internal Revenue Service will soon release details on the audits it has been conducting of about 50 credit-counseling agencies, CardLine has learned. Sources declined to go on the record but say the IRS may expand its audit to another 50...

HIGHER PRICES ARE FORCING SOME TO CUT BACK ON THEIR USE OF CREDIT...(Brief Article)
April 8, 2005... Higher gasoline prices and rising interest rates are forcing some consumers to become more conservative in their use of credit, Allen Grommet, senior economist for Cambridge Consumer Credit Index, tells CardLine today. "The economy is growing,...

...BUT REVOLVING CREDIT GREW A STRONG 6.1% IN FEBRUARY.(Brief Article)
April 8, 2005... The Federal Reserve reported this afternoon that seasonally adjusted, revolving credit grew at a 6.1% annualized rate in February. "It's very strong growth," Allen Grommet, senior economist for Cambridge Consumer Credit Index, tells CardLine....

MBNA WILL TAKE A LARGER PRETAX CHARGE IN THE FIRST QUARTER.(Brief Article)
April 8, 2005... MBNA Corp. says in a U.S. Securities and Exchange Commission filing that it will take a higher pretax charge in the first quarter than previously disclosed because of its restructuring plan. The Wilmington, DE, issuer says in the SEC filing...

STORED VALUE CARD PROVIDER OPENS PROCESSING FACILITY.(No Borders Inc., No Borders Processing LLC)(Brief Article)
April 8, 2005... No Borders Inc., a company that provides debit and stored value cards for immigrants, announced today the opening of No Borders Processing LLC, and the completion of its proprietary software for its stored value card platform o Borders Inc....

DIEBOLD PROCOMP WINS BRAZILIAN LOTTERY DEAL.(Brief Article)
April 8, 2005... Diebold Procomp, the Brazilian subsidiary of U.S. ATM manufacturer Diebold, has won a contract to supply betting and payment terminals to Brazil's national lottery. The contract, which Brazilian press reports estimate to be worth Real 213...

RBS BANK NAMES SENIOR VICE PRESIDENT OF PORTFOLIO MARKETING.(RBS National Bank appoints Michael E. Walsh )(Brief Article)
April 8, 2005... RBS National Bank, the U.S. credit card arm of The Royal Bank of Scotland Group, yesterday announced that Michael E. Walsh had been named senior vice president of portfolio marketing and revenue services. Walsh will be responsible for...

U.S. ATMS SHIPMENT INCREASE IN 2004.(Automated teller machines)(Brief Article)
April 15, 2005... ATM shipments in the United States show a sharp turnaround toward bank machines and away from nonbank cash dispensers, according to a new survey by Cardline's sister publication ATM&Debit News. The survey indicates that the nation's two top...

ANALYST SAYS BANKRUPTCY REFORM MAY BACKFIRE.(forecasts of Global Insight Inc. on consumer bankruptcy filings)(Brief Article)
April 15, 2005... Global Insight Inc. projects that consumer bankruptcy filings will grow 13% in the next few years, from 1.58 million in 2004 to 1.79 million in 2008. Debt-burdened consumers will be stretched to the limit by a rise in inflation and interest...

CREDIT CARDS NOT POPULAR FOR TAX PAYMENTS.(Brief Article)
April 15, 2005... Income tax returns are due next Friday, but Americans are not using credit cards to pay the tax man, according to a survey released this week. Americans are choosing personal checks, money orders and direct debit over credit cards to pay their...

GAO SAYS CONSUMERS NEED MORE EDUCATION ON CREDIT REPORTS.
April 15, 2005... Most consumers understand the basics of credit reporting but could use more education on what credit scores mean in their lives, according to a survey conducted by the U.S. General Accountability Office and released this month. About 60% of the...

HUNTINGTON IN ATM DEAL WITH WALGREENS.(Huntington Bancshares )(Brief Article)
April 15, 2005... Huntington Bancshares is to install 99 ATMs at Walgreens drugstores across Ohio, Michigan and Indiana. Installation will begin this month, and the deal will bring Huntington's total ATM network to over 800 machines, the Columbus, Ohio-based...

CONSUMERS PLAN TO SPEND TAX REFUNDS ON BILLS.(Brief Article)
April 15, 2005... Almost half of consumers receiving a tax refund say that they expect to use it to pay off debt, according to the Experian-Gallup Personal Credit Index released earlier this week. Another 9% say they will use it to make a special, large purchase...

U.S. BANK ISSUING SCOTTISH RITE VISA AFFINITY CARD.(Brief Article)
April 15, 2005... U.S. Bank is now offering Scottish Rite Freemasons and charity supporters the choice of three Visa Platinum credit cards. The cards earn points that can be redeemed for gift certificates, merchandise, cash and travel rewards. The affinity...

ACH PAYMENTS GREW 20% IN 2004.(automated clearing house payments)(Brief Article)
April 15, 2005... The number of automated clearing house payments (ACH) reached more than 12 billion in 2004, a 20% increase over 10 billion in 2003, NACHA-The Electronic Payments Association says today at the opening of its Payments 2005 conference in San...

ATM MANUFACTURERS GET AN ADVANCED LOOK AT NEW $10 BILL.(automated teller machines)(Brief Article)
April 15, 2005... The Federal Reserve and the Bureau of Engraving and Printing have started working with ATM manufacturers to make sure they are ready for the new $10 bill. The redesigned banknote will be issued in early 2006 as part of the Federal Reserve's...

VISA WILL REPLACE MAGNETIC STRIPE WITH MAGNETIC TAPE.(Visa International signs agreement with American Bank Note Holographics Inc.)(Brief Article)
April 15, 2005... Hologram manufacturer American Bank Note Holographics Inc. has signed an agreement with Visa International to replace the magnetic stripe on the backs of Visa cards with magnetic tape to provide more security for cardholders, Kenneth Traub,...

OCC AMENDS AGREEMENT WITH METRIS' DIRECT MERCHANTS CREDIT CARD BANK.(Office of the Comptroller of the Currency)(Brief Article)
April 15, 2005... Metris Companies Inc., the Minnetonka, MN, issuer, has amended its agreement with the Office of the Comptroller of the Currency, that allows Metris subsidiary, Direct Merchants Credit Card Bank, N.A., to lower its capital requirements, Jeff...