Cardline articles from February 2005

Cardline archives from February 2005

FIRST DATA WILL PROCESS THE NEW WAL-MART DISCOVER CARD.(Brief Article)
February 4, 2005... Expanding on its relationship with GE Consumer Finance, First Data Corp. will provide card processing for the soon-to-be launched Wal-Mart Discover card, Charles Fote, First Data's chairman, president and CEO, said yesterday during an analysts'...

STARBUCKS CARD REPRESENTED 11% OF COMPANY'S NORTH AMERICAN REVENUE IN ITS FIRST QUARTER.(Brief Article)
February 4, 2005... Starbucks Coffee Co. reported yesterday that the Starbucks Card represented 11% of North American retail sales during the first fiscal quarter of 2005, which ended Dec. 4, 2004. This is up from approximately 9% in 2004's first fiscal quarter, a...

MASTERCARD'S 2004 GROSS DOLLAR VOLUME IS UP 15.4%.(MasterCard International Inc.)(Brief Article)
February 4, 2005... Last year was MasterCard's Silver anniversary, and it raked in a lot of gold. MasterCard International today reported 2004 gross dollar volume, which includes purchase and cash volume, of $1.5 trillion, up 15.4% from $1.3 trillion in 2003 when...

STANFORD FEDERAL CREDIT UNION USES TWO-WAY AUTHENTICATION.
February 4, 2005... Stanford Federal Credit Union, the nation's first institution to conduct a financial transaction over the Internet, is claiming another first. The credit union, which serves the 40,000 employees of Stanford University, has become the first...

CHASE CARD SERVICES' DEAL WITH AVIS MAKES DISCOUNTS AUTOMATIC AT THE POINT OF SALE.(Avis Group Holding Inc.)(Brief Article)
February 4, 2005... Chase Card Services has developed a new automated discount feature for its credit cardholders, introducing it today with client AARP and Avis Rent A Car System Inc. The AARP, a nonprofit organization for people 50 and older, has about 35...

ADVANTA POCKETS $63.8 MILLION AFTER IRS APPROVES SETTLEMENT WITH BANK OF AMERICA.(Brief Article)
February 4, 2005... Advanta Corp. reported today it received $63.8 million in cash from Bank of America Corp. in the settlement of a long-running lawsuit after the IRS gave final approval for the deal. Advanta will record in the first quarter a $61 million net...

EUROPEAN FRAUD RISES, BOOSTING SMART CARDS.(Brief Article)
February 4, 2005... With counterfeit card fraud increasing, it makes more sense for a German card issuer to convert at least heavily used credit cards to smart cards, says Tilo Schurer, product manager for e-commerce at Landesbank Berlin. And if many issuers do...

XIGN BOASTS THAT IT HAS PROCESSED MORE THAN $50 BILLION B-TO-B TRANSACTIONS.(Brief Article)
February 4, 2005... Xign Corp. announced last week that it had processed over $50 billion in business-to-business transactions since it began its on-demand Order to Pay service in July 2001. Xign's B2B e-commerce network connects buyers and suppliers, delivering...

APPOINTMENTS.(Brief Article)
February 4, 2005... Payment terminal manufacturer Hypercom Corp. yesterday announced two executive appointments. Former VeriFone Inc xecutive Bill Mardis was named vice president of value-added services, and Dan DeBraal was named vice president of processor sales....

CLARIFICATION.(Correction Notice)
February 4, 2005... In today's issue, CardLine did not fully identify Alliance Data Systems Corp. Copyright 2005 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.cardforum.com

MORGAN STANLEY CEO MAY CONSIDER SELLING DISCOVER, BUT HE ALSO SHOWS SUPPORT FOR THE BRAND AS THE INDUSTRY CHANGES.(Discover Financial Services)(Brief Article)
February 4, 2005... The Wall Street Journal reported in today's editions that Philip J. Purcell, chairman and CEO of Morgan Stanley, parent company of Discover Financial Services, issuer of the Discover card, would consider selling Discover in two-to-three years...

METRIS FINDS THAT DISCIPLINE WORKS.(Metris Companies Inc.)(Brief Article)
February 4, 2005... Metris Companies Inc., the Minnetonka, MN-based, subprime issuer, succeeded in adding 208,000 new accounts during the fourth quarter, the highest new account production in 10 quarters, David D. Wesselink, chairman and CEO, said yesterday during...

CYBERSOURCE REPORTS 35% INCREASE IN FOURTH-QUARTER NET INCOME.(Brief Article)
February 4, 2005... CyberSource Corp. reported late Thursday fourth quarter revenues of $10.4 million, a 35% rise from $7.7 million in 2003's fourth quarter et income was $2.7 million in the fourth quarter, compared with $56,000 for the same three-month period a...

BANK OF AMERICA SAYS ITS FEE-LESS MONEY-TRANSFER PLAN WILL MEAN MORE MONEY FOR RELATIVES IN MEXICO.(Brief Article)
February 4, 2005... When Bank of America executive Eduardo Vergara announced yesterday that the bank was dropping all money transfer fees from Chicago to Mexico and would eventually do the same thing elsewhere, he was asked if BofA was throwing down the gauntlet...

SPEER & ASSOCIATES NAMES PRESIDENT.(Brief Article)
February 4, 2005... Speer & Associates Inc., the Atlanta-based consultant to the financial-services industry, reported it has named Les E. Riedl president and promoted Ali Raza to senior vice president. Riedl consults domestically and internationally on credit-...

MASTERCARD, AMEX SAY CONTACTLESS CHIPS ARE SAFE.(American Express Co., MasterCard International Inc.)
February 4, 2005... MasterCard International and American Express executives maintain that their contactless chips are safe and secure although researchers at Johns Hopkins University of Baltimore cracked the security in a contactless chip used in vehicle security...

FORMER NEXTCARD AUDITOR SENTENCED TO PRISON AND FINED.(Brief Article)
February 4, 2005... Thomas Trauger, former auditor of the defunct online card issuer NextCard Inc., was sentenced to a year in prison and fined $5,000 Thursday for falsifying and deleting NextCard documents. Trauger admitted that his actions were designed to...

PAY BY TOUCH BUYS PATENTS THAT OPEN THE DOOR TO THE CHECK-VERIFICATION BUSINESS.(Brief Article)
February 4, 2005... Biometric provider Pay By Touch announced last week that it had bought an issued patent and several pending patents on biometric technology that allows the company to get into the check-cashing verification business, Eric Bachman, Pay By Touch...

TNB CARD SERVICES ISSUES GUIDE TO HELP CREDIT UNIONS DECIDE WHETHER TO SELL THEIR CARD PROGRAMS.(Brief Article)
February 4, 2005... With many credit unions looking to sell their credit card portfolios, TNB Card Services, a credit union-owned issuer and processor, has produced a 17-page guide designed to help credit unions determine whether they should sell or hold onto...

SPANISH-LANGUAGE WEB PORTAL FOR CREDIT CARDS OPENS.(Brief Article)
February 4, 2005... A New Jersey businessman has opened a Spanish-language Web portal where Hispanics can shop for a credit card. The portal, TarjetasdeCredito.com, means CreditCards.com in Spanish. It has 13 card issuers on the Web site, Mark Colyer, its owner...

EVOLUTION BENEFITS DISTRIBUTES MEDICAL BENEFITS CARD.(Brief Article)
February 4, 2005... Evolution Benefits Inc., a provider of the medical benefits Benny debit card, announced last week it has begun distributing the card to clients of North American Health Plans Inc. Buffalo, NY-based North American annually processes over $1...

MORE STATES USING BRANDED DEBIT CARDS TO PAY UNEMPLOYMENT BENEFITS.(Brief Article)
February 4, 2005... More states are using branded, prepaid debit cards as a means to reduce the costs and overhead associated with distributing checks. These cards are separate from the electronic benefits transfer cards that all states now use to deliver cash and...

AMERICAN EXPRESS WILL SPIN-OFF ITS FINANCIAL ADVISORS UNIT TO CONCENTRATE ON HIGH-GROWTH CREDIT AND CHARGE CARDS.(Brief Article)
February 4, 2005... American Express Co. announced this morning that it is spinning off its American Express Financial Advisors unit to shareholders and will focus on its high-growth credit card and charge card businesses. The spin-off is scheduled for completion...

U.S. SUPREME COURT DECISION OPENED THE DOOR TO AMEX SPIN-OFF.(Brief Article)
February 4, 2005... American Express Co.'s announcement today that it is spinning off American Express Financial Advisors so the issuer can concentrate on its high growth card business was sparked in part by October's U.S. Supreme Court decision, C. Scott...

ASSETEXCHANGE BROKERS SALE OF 10 CREDIT UNION CARD PORTFOLIOS.(Brief Article)
February 4, 2005... AssetExchange, the Portland, OR, credit card portfolio advisory firm, today announced that it brokered the sale of 10 credit union credit card portfolios worth approximately $56 million. Four of the credit unions sold their card portfolios to...

AXALTO SHIPS MORE BANKING SMART CARDS.(Brief Article)
February 4, 2005... France-based smart card vendor Axalto reported shipments of chip-based banking cards increased by 22% during the fourth quarter to 18.6 million units, thanks to the continued rollout of credit and debit cards that comply with the international...

LEVEL FOUR AMERICAS INTRODUCES ATM SOFTWARE TRADE-UP PROGRAM.(Brief Article)
February 4, 2005... Level Four Americas LLC, which manufactures testing and development software for ATMs, launched a trade-up program for ATM operators using Level Four's competitors software, Jorge Fernandez, the company's president and CEO, tells CardLine...

FISERV PROCESSED 4.2 BILLION TRANSACTIONS IN 2004.(Brief Article)
February 4, 2005... Fiserv Inc. reports that its electronic funds transfer division processed a record 4.2 billion transactions in 2004, a 14% increase from 2003 volume. Fiserv's shared ATM and point-of-sale network, Accel-Exchange, switched 26% more transactions...

CITIBANK BRAZIL WILL DIVIDE THE ASSETS OF CREDICARD WITH BANCO ITAU.(Brief Article)
February 4, 2005... Citigroup Inc.'s Citibank Brazil and Banco Itau today announced that they have agreed to divide equally the assets of Brazilian credit card issuer Credicard without either company paying money to the other. Once the deal is complete, Citibank...

TRANSFIRST NAMES CHIEF OPERATING OFFICER.(Joni Floyd)(Brief Article)
February 4, 2005... Processor TransFirst today named Joni Floyd chief operating officer. Floyd had been president of TransFirst's Shared Services division and acting COO. Floyd will implement new technologies and streamline business operations. Dallas-based...

FEDERAL RESERVE RAISES FEDERAL FUNDS RATE.(Brief Article)
February 4, 2005... The Federal Reserve this afternoon raised its target for the federal funds rate by 25 basis points to 2.50%, which means that individuals with variable rate credit cards soon will see in an increase in their cards' interest rates, Keith...

RETURN ON PROCESSORS' STOCK DECLINED IN JANUARY.(Brief Article)
February 4, 2005... The mean return on the stocks of 11 major transaction processors was down 3.37% in January, the first monthly decline for the group since last August, according to a report Tuesday by Gary Prestopino, senior investment analyst and vice...

ALLIANCE DATA REPORTS THAT FOURTH-QUARTER EARNINGS ARE DOWN 19% BECAUSE OF AN AFTER-TAX CHARGE.(Alliance Data Systems Corp. )(Brief Article)
February 4, 2005... Alliance Data Systems Corp. this afternoon reported fourth-quarter revenue of $346.8 million, up 16% compared with $297.9 million in 2003's fourth quarter. Fourth-quarter net income for the Dallas-based company was $16 million, down 19%...

WEBCENTS GETS CAUGHT UP IN AT&T'S NEED TO CHANGE.(Brief Article)
February 4, 2005... AT&T Corp. has dropped its prepaid Webcents card, a card sold both online and at brick-and-mortar stores, although the card was meant for online purchases. AT&T launched Webcents in April 2003, marketing it primarily to young individuals as a...

PEPPERCOIN INTRODUCES SOFTWARE FOR MICROPAYMENTS.(Brief Article)
February 4, 2005... Peppercoin Inc. announced today version 3.0 of its software designed for low-priced digital content, or micropayments. The software, which is for financial institutions and merchants, supports pay-as-you-go, subscription, pre-paid and post-paid...

BB&T SIGNS AGREEMENT TO USE STAR CHEK.(First Data Corp)(Brief Article)
February 4, 2005... BB&T Corp., the Winston-Salem, NC-based financial-holding company with more than $97 billion in assets, has expanded its relationship with First Data Corp.'s Star network, a First Data spokesperson tells CardLine today. BB&T signed a multi-year...

WHATABURGER SELECTS A NEW CARD PROCESSOR.(Paymentech LLC )(Brief Article)
February 4, 2005... Whataburger, a Texas institution known for its big made-to-order hamburgers, awarded Paymentech LLC a three-year card-processing contract, a Whataburger spokesperson tells CardLine today. The agreement applies to Whataburger's corporate-owned...

FAIR ISAAC'S BOARD APPROVES STOCK REPURCHASE.(Brief Article)
February 4, 2005... The board of directors of Fair Isaac Corp., the Minneapolis-based credit scoring company, approved the repurchase of up to $250 million of company's outstanding stock. The new program replaces the previous buyback plan, which authorized the...

CHARGEOFFS DECLINED IN DECEMBER.(Brief Article)
February 4, 2005... Chargeoffs on securitized pools of card receivables decreased 20 basis points to 6.3% of receivables in December, down from 6.5% in November, according to Standard & Poor's U.S. Credit Card Quality Index released today. The rate was down 70...

WESTERN UNION HAD A TOTAL OF 219,000 LOCATIONS WORLDWIDE IN 2004.(Western Union Financial Services Inc.)(Brief Article)
February 4, 2005... Western Union Financial Services Inc., the money-transfer company, yesterday announced that it and its subsidiary Orlandi Valuta opened 37,000 agent locations last year, bringing the total number of agent locations worldwide in 2004 to 219,000....

BANKRUPTCY HEARINGS SET FOR NEXT THURSDAY.(Brief Article)
February 11, 2005... The Senate Judiciary Committee plans to hold hearings on Feb. 10 on the bankruptcy legislation proposed by Sen. Charles E. Grassley (R-Iowa), Cardline has learned. Grassley's proposal, SB 256, is similar to bankruptcy-reform legislation the...

BARCLAYS ALLIES WITH SWEDISH BANK.(ForeningsSparbanken)(Brief Article)
February 11, 2005... Barclays PLC announced today it has formed a joint alliance with Stockholm-based ForeningsSparbanken (known as FSB or Swedbank) to market and issue credit cards in the Nordic market. Both will hold a 50% share of the alliance after Barclays...

NORTHWEST SIGNS WITH AIRPLUS INTERNATIONAL.(Northwest Airlines Corp.)(Brief Article)
February 11, 2005... AirPlus International has expanded its relationship with Northwest Airlines, announcing this week that the carrier will begin offering its AirPlus Company Account to corporate travel managers. AirPlus provides a payment, billing and reporting...

GERMAN CONSUMERS HESITANT TO USE CARDS ONLINE.(Brief Article)
February 11, 2005... Germany is seeing a growth in online purchases but consumers rarely use cards, and expanding credit card use there will prove a hard nut to crack, according to German payment experts. For example, the online travel market in Germany jumped 62%...

CHASE PLANS ATM EXPANSION.(J.P. Morgan Chase and Co.'s any time money)(Brief Article)
February 11, 2005... J.P. Morgan Chase & Co. plans to expand its ATM portfolio by about 15% this year, buying 1,000 machines and deploying them in the 17 states where Chase has a presence, according to a Jan. 19 Securities and Exchange Commission filing by the New...

TAKE A CAB, SEE A SHOW, PAY BY CARD.(Targeted Media Partners LLC's touch screen monitors )(Brief Article)
February 11, 2005... Neighborhood cabbies may soon be accepting credit card payments for fares, tips and entertainment around town through touch-screen monitors with a magnetic-stripe reader from Targeted Media Partners LLC. Corey Gottlieb, Targeted CEO, tells...

RETAILERS MUDDLED OVER SALES.(Brief Article)
February 11, 2005... Several recent surveys found mixed news for consumer spending in retail sectors around the globe. Sales prospects in the U.S. for 2005 are so-so, though the gay, lesbian and bisexual community is seeing expanding buying power. But Asian retail...

MASTERCARD SCORES WITH SUPER BOWL AD.(Brief Article)
February 11, 2005... MasterCard International, Visa USA and MBNA all wrote $2.4 million checks for 30-second commercials during the New England Patriot's victory over the Philadelphia Eagles, with Purchase, NY-based MasterCard looking like the winner in the credit...

HYPERCOM OVERSTATED $4 MILLION IN REVENUE.(Brief Article)
February 11, 2005... Hypercom Corp., the Phoenix, AZ, point-of-sale terminal maker, will restate its revenue by up to $4 million for the first three quarters of 2004 following discrepancies involving leases from the company's United Kingdom subsidiary, Hypercom...

SPITZER CRIES FOUL ON GIFT CARD FEES.(Eliot Spitzer sues Simon Property Group Inc.)(Brief Article)
February 11, 2005... New York Attorney General Eliot Spitzer on Friday filed a lawsuit against Simon Property Group Inc. saying the mall operator has violated a consumer protection law regarding prepaid gift cards, according to a release from Spitzer's office...

MASTERCARD, CHASE AND REGAL GO TO THE MOVIES.(J.P. Morgan Chase & Co., MasterCard International Inc. and Regal CineMedia )(Brief Article)
February 11, 2005... J.P. Morgan Chase & Co., MasterCard International and Regal CineMedia Corp. announced today the introduction of the Regal Entertainment Group Platinum cobranded credit card. The program will offer reward points for all purchases and launch this...

VISA LAUNCHES 'STOP FRAUD' CAMPAIGN.(Visa U.S.A. Inc.)(Brief Article)
February 11, 2005... Visa USA today launched Stop Fraud, a new consumer awareness campaign designed to educate consumers about how to minimize exposure to identify theft and credit fraud. The campaign will also inform consumers about the steps they can take if they...

REWARDS KEY FOR CONSUMERS.(Brief Article)
February 11, 2005... Credit cardholders expect to earn enough points for a reward over the course of a year and banks are not doing enough to woo high-income earners, according to a national consumer survey from Maritz Loyalty Marketing. The survey, conducted in...

JUNIPER BUYS OREGON CREDIT UNION CARD PORTFOLIO.(Juniper Financial Corp. acquires Oregon Community Credit Union)(Brief Article)
February 11, 2005... Juniper Financial Corp. on Friday acquired the $42.9 million credit card portfolio of Oregon Community Credit Union, according to Brookwood Capital, the advisor on the deal. Oregon Community has 87,000 members around Eugene, OR, and assets of...

AIRLINES ARE LOOKING FOR WAYS TO CUT CARD ACCEPTANCE COSTS.(Brief Article)
February 11, 2005... U.S. airlines now are focusing on ways to cut the $1.5 billion that it costs them annually to accept card payments, according to a February study from Pascal Burg, a director with consultant Edgar, Dunn & Co. Burg notes that the hard-hit...

VISA'S 2004 SALES VOLUME SETS A RECORD OF $1.045 TRILLION.(Visa U.S.A. Inc.)(Brief Article)
February 11, 2005... Visa USA reported today that 2004 sales volume on Visa-branded credit, debit, prepaid and commercial cards was a record $1.045 trillion. The benchmark was fueled by innovations in four key areas, including efforts by the San Francisco-based...

VISA'S CREDIT CARDS ARE PICKING UP ON "EVERYDAY SPEND".(Visa USA)(Brief Article)
February 11, 2005... Visa USA said debit cards opened the door to "everyday spend," but its credit cards also are benefiting. "Everyday spend always has been associated with debit, but credit cardholders are using their cards to pay for dry cleaning, meals at...

TNB CARD SERVICES AGENT-ISSUING PORTFOLIO REACHED $80 MILLION IN 2004.(Brief Article)
February 11, 2005... TNB Card Services announced Monday that outstanding balances in its agent issuing portfolio reached $80 million last year, a nearly 200% increase from 2003. Dallas-based TNB Card Services is a full-service credit and debit card processor for...

MEDICAL DEBT BURDENS CONSUMERS.(Brief Article)
February 11, 2005... Many Americans are backing away from buying big-ticket items, such as homes, automobiles and major appliances, thanks to hefty medical debt bills, according to a survey by Cambridge Consumer Credit Index. Specifically, the survey indicates five...

REVOLVING CREDIT ROSE IN DECEMBER.(consumer credit)(Brief Article)
February 11, 2005... Revolving credit, which is mostly credit cards, rose 1.4% on an annualized basis to $790.5 billion in December from $789 billion in November, the Federal Reserve reported yesterday. Consumer credit rose by a revised $2 billion in November,...

FIFTH THIRD WILL PROCESS TRANSACTIONS FOR MONEYPASS.(Fifth Third Processing Solutions)(Brief Article)
February 11, 2005... Fifth Third Processing Solutions, a division of Fifth Third Bancorp., has signed an agreement with MoneyPass EFT Network to process transactions for its financial-institution customers, GenPass Inc., manager of MoneyPass, said today. MoneyPass...

FIRST DATA WILL REVAMP INTERCHANGE FOR ITS STAR NETWORK.(Brief Article)
February 11, 2005... First Data Corp., the Greenwood Village, CO, transaction processor and network owner, is revamping the interchange rate policies of its Star network to make PIN-debit more appealing to cash-oriented merchants such as movie theaters and...

MASTERCARD WILL RAISE INTERCHANGE RATES APRIL 1.(MasterCard International Inc.)(Brief Article)
February 11, 2005... MasterCard International is raising interchange rates, effective April 1, in its U.S. region for its consumer credit, World MasterCard, debit, corporate, Maestro and ATM rate programs, according to its Feb. 1 U.S. Region Marketing Bulletin....

MASTERCARD'S LOGO MOVES TO THE BACK OF A CARD FOR THE WEALTHY.(Citigroup Inc.'s new credit card)(Brief Article)
February 11, 2005... Smith Barney, a division of Citigroup Inc.'s Global Services, in March will begin offering a MasterCard-branded credit card for Smith Barney's high-net worth clients in which MasterCard's logo will appear on the back on the card. "MasterCard's...

STRATUS REWARDS NAMES NEW PRESIDENT; COMPANY PLANS TO EXPAND TO CANADA AND U.K.(appoints Angela Gyetvan)(Brief Article)
February 11, 2005... Stratus Rewards, an invitation-only club that offers a Visa-branded credit card for wealthy and super wealthy, yesterday named Angela Gyetvan, a hotel executive with a strong marketing background, president. Gyetvan replaces Alison L. Chittun,...

DEALS ADD PAYMENT AND LOYALTY TO CELL PHONES.(Koninklijke Philips Electronics N.V. deals with Smart System Technologies and 3United)(Brief Article)
February 11, 2005... Royal Philips Electronics of the Netherlands announced today two alliances designed to add payment and loyalty features to mobile phones embedded with chips that use the company's Near Field Communication technology. The deals are with New York...

BLUE REVAMPS AUCTION SITE.(American Express Co. improves online auction site)(Brief Article)
February 11, 2005... American Express Co. has improved Blue PLAY, its online auction site (www. AmericanExpress.com-BluePlay), making it more interesting for Blue cardholders, the majority of whom like to shop online and surf the Web, an AmEx spokesperson tells...

CERTEGY ROLLS DICE WITH CASINO OPERATOR AND COMES UP A WINNER.(contracts with Argosy Gaming Co.)(Brief Article)
February 11, 2005... Certegy Inc. has expanded its relationship with Argosy Gaming Co., Mary Waggoner, Certegy's vice president of investor relations, tells CardLine today. Certegy will provide credit card cash-advance services to customers at all six of Argosy's...

UNIVERSAL AIR TRAVEL REPORTS A 10% INCREASE IN 2003 SALES VOLUME.(AirPlus International appoints Kathy Cantwell)(Brief Article)
February 11, 2005... Universal Air Travel Plan Inc. (UATP) today reported that 2004 sales volume reached $7.7 billion, up 10% from $7.0 billion in 2003. UATP is projecting sales volume of $8 billion for 2005. UATP is owned by 20 airlines worldwide, and 15 airlines...

MASTERCARD'S SOFTWARE WILL SEND TEXT MESSAGES TO WARN CARDHOLDERS ABOUT POSSIBLE FRAUD.(Aristion Communicator, wireless telecommunications software)(Brief Article)
February 11, 2005... MasterCard Europe has developed software that sends text messages, or Short Message Service, to cardholders on their cellular telephones, alerting them to possible fraudulent card activity, Johan Gerber, associate vice president of risk...

BARCLAYCARD REPORTS 2004 BEFORE-TAX PROFIT OF [pounds sterling]801 MILLION.(Brief Article)
February 11, 2005... Barclaycard, the United Kingdom's largest issuer, today reported a 2004 before-tax profit of [pounds sterling]801 million, up 5% from [pounds sterling]761 million in 2003, a spokesperson tells CardLine. Barclaycard increased the number of cards...

SMART CARDS ARE COMING TO U.S., SAYS MASTERCARD EXEC.(Brief Article)
February 11, 2005... In most markets outside of the United States, smart cards will reach critical mass in three to four years, says Toni Merschen, senior vice president of chip and mobile commerce at MasterCard International. He defines critical mass as two-thirds...

SENATE HEARS TESTIMONY ON BANKRUPTCY LEGISLATION.(Brief Article)
February 11, 2005... The Senate Judiciary Committee heard testimony today about bankruptcy reform legislation proposed by Sen. Charles Grassley, R-IA. The banking industry threw its support behind the measure with R. Michael Menzies, chairman of the policy...

HSBC NORTH AMERICA SUITS UP WITH CASUAL MALE.(Casual Male Retail Group Inc. and Rochester Big & Tall)(Brief Article)
February 11, 2005... HSBC North America today announced that it has signed a multi-year agreement to manage a private-label card program for Casual Male Retail Group Inc. and Rochester Big & Tall, a men's wear company, Casual Male purchased in November, an HSBC...

MOOSE INTERNATIONAL FORMS AFFINITY CARD PROGRAM WITH U.S. BANK.(Brief Article)
February 11, 2005... U.S. Bank yesterday announced that it has formed an affinity card partnership with Moose International, a 1.5 million member philanthropic organization based in Mooseheart, IL, west of Chicago. Each time an individual who participates in the...

VISA WANTS MEMBER BANKS TO BECOME AWARE OF SMALL BUSINESSES' BIG OPPORTUNITIES.(Visa U.S.A. Inc.'s small business-spending forecast)(Brief Article)
February 11, 2005... Visa USA today introduced its small business-spending forecast, advising its issuing banks of the big opportunities that small business presents. "It's a way of helping our members identify where the high-spending categories are, so they can...

CORRECTION.(Correction Notice)
February 11, 2005... Smith Barney is a unit of Citigroup Inc.'s Global Markets Inc. CardLine regrets the error that appeared in today's CardLine. Copyright 2005 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.cardforum.com

HYPERCOM HIT WITH SECURITIES LAWSUITS.(Brief Article)
February 18, 2005... At least nine law firms filed lawsuits this week against Hypercom Corp. charging the Phoenix-based terminal marketer with violating federal securities law. The suits follow Hypercom's announcement last Friday that it would restate its financial...

CITIGROUP ANNOUNCES REORGANIZATION THAT AFFECTS CARD OPERATIONS.(Brief Article)
February 18, 2005... Citigroup Inc. today announced a reorganization that affects the financial services company's giant credit card operations. Citigroup plans to merge its two intermediate bank holding companies, Citigroup Holdings Inc. and Citicorp, which houses...

MASTERCARD ISSUER CANADIAN TIRE WILL FOCUS ON GROWING CARD BALANCES.(Brief Article)
February 18, 2005... Canadian Tire Corp., one of Canada's largest MasterCard issuers, reported that its Financial Services unit, which is mostly made up of it Options MasterCard, reported a 2004 pre-tax earnings of C$148.5 million (U.S. $120.1 million), up 28% from...

HARVARD UNIVERSITY CREDIT UNION EARNS AN "A" FOR IMPROVING CARD BALANCES.(Brief Article)
February 18, 2005... Harvard University Employees Credit Union has gone to the head of the class for growing its credit card balances, a spokesperson for PSCU Financial Services Inc., the credit union's card processor, tells CardLine today. The credit union, which...

REGIONS FINANCIAL CORP. SUBSIDIARIES EXTEND AGREEMENTS WITH STAR NETWORK.(Brief Article)
February 18, 2005... First Data Corp. said yesterday that Union Planters Bank and Regions Bank, both subsidiaries of Regions Financial Corp., have extended their relationships with Star PIN-secured and signature debit-processing services. The parties also agreed to...

AMEX SAYS ONLINE TRAVEL BOOKINGS ARE UP DRAMATICALLY.(American Express Business Travel Services )(Brief Article)
February 18, 2005... American Express Business Travel Services recently announced that European online travel bookings increased by an average of 263% in 2004 from 2003. AmEx particularly noted the 414% jump in the United Kingdom. During December, nearly 20% of all...

TNS REPORTS FOURTH-QUARTER FINANCIALS.(Brief Article)
February 18, 2005... TNS Inc. reported late yesterday fourth quarter revenues of $63.4 million, up 3% from $61.4 million in the same period a year ago et income was $2.4 million, up 175% from $883,000 in fourth quarter of 2003. Revenues of the International...