Thailand’s Kasikornbank has announced the launch of a new
strategic credit card merchant promotion programme…
US vending technology provider Automated Vending Technology
(AVT) has unveiled the new RAM 5000 high-capacity vending
system…
Go deeper with GlobalData
Al Salam Bank of Bahrain has selected Arab Financial Services
(AFS) for its credit card processing services…
THAILAND
Kasikornbank launches merchant promotion
programme
Thailand’s Kasikornbank has announced the launch of a new strategic
credit card merchant promotion programme, powered by payment
technology from European software developer Welcome. The aim of the
programme is to raise awareness about Kasikornbank’s credit cards,
in order to drive higher acceptance and usage of credit cards. The
programme is in line with the bank’s efforts to accelerate the
growth of its consumer banking business.
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By GlobalDataINDIA
Citibank launches SIB Citibank Visa credit
card
Citibank and South Indian Bank (SIB) have teamed up to launch the
South Indian Bank Citibank Visa credit card. The partnership will
result in a co-branded card to be offered to SIB’s customer base in
Kerala. In addition to regular features, the card offers 0 percent
fuel surcharge at Indian Oil petrol stations, a 24-hour internet
banking facility, zero lost card liability and Visa Money transfer.
SIB is one of the leading scheduled (ie, approved by the reserve
bank) commercial banks in India and has a focus on technology and
service. It is the first Kerala-based bank in the private sector to
become a scheduled bank and also the first Kerala-based bank to go
online through a centralised core banking solution.
INDIA
Citigroup targets poor segment of population with biometric
ATMs
Citigroup is rolling out a network of biometric ATMs in India in a
bid to secure a greater share of microfinance customers. The ATMs
will have multiple language capabilities, voice-enabled navigation,
biometric thumbprint recognition and colour-coded screen
instructions. Citigroup has already installed two of the machines
and it aims to expand the network to 25 to 35 machines within 18
months, with a target customer base of about 50,000.
CHINA
CMB to focus on credit card growth to boost
competition
China Merchants Bank (CMB), the country’s sixth-largest lender, is
to focus on its credit card business in order to offset its lack of
outlets and compete with state-owned counterparts. CMB said the
circulation of its dual currency-denominated credit cards reached
10 million at the end of 2006.
CANADA
Scotiabank launches ScotiaGold Passport Visa
card
Canada’s Scotiabank has introduced the ScotiaGold Passport Visa
card, a premium travel rewards card providing customers with the
opportunity to earn points toward travel, merchandise and lifestyle
rewards. ScotiaGold Passport Visa travel benefits include Scotia
Rewards points with no expiration for accounts that are open and in
good standing; travel booking with no restrictions using points
only, points plus cash or cash; and 5 percent cashback on flights,
holiday packages or cruises booked with the Scotia Rewards Travel
Service.
UNITED STATES
HSBC signs private-label deal with
Cornerstone
HSBC North America’s retail services business has signed a new
agreement with Cornerstone Brands to launch and manage a
private-label credit programme for Cornerstone’s range of retail
companies for the home, leisure and casual apparel markets. The
first card to be launched under the agreement is the Territory
Ahead credit card.
UNITED STATES
AVT unveils cashless vending solutions
US vending technology provider Automated Vending Technology (AVT)
has unveiled the new RAM 5000 high-capacity vending system. The RAM
5000 is a non-refrigerated vending system capable of storing and
vending over 1,000 items. Using a typical magnetic card reader
mounted near the bill acceptor, the RAM vending systems can accept
an industry standard credit or debit card for payment of products.
AVT has teamed with Cingular Wireless to process the transaction
over the wireless network.
UNITED STATES
Discover Network certifies OTI contactless card
reader
Discover Network, a business unit of Discover Financial Services
and Morgan Stanley, has certified the Saturn 5000 contactless
reader developed by On Track Innovations (OTI), a provider of
contactless microprocessor-based smart card solutions, for use with
Discover Network’s contactless payment application. The
certification process ensures that the Saturn 5000’s reader
technology is able to support Discover Network’s proprietary
contactless payment solution. Additional OTI readers are in the
certification process.
UNITED KINGDOM
Credit card lending rate falls – BoE
Figures from the Bank of England (BoE) show that credit card
lending in the UK continues to grow at a much slower rate than
previously. In October, net credit card lending rose by £200
million ($388 million), lower than the £400 million increase in
September. The increase in overall consumer credit (£1.1 billion)
was higher than in September. The annual growth rate of consumer
credit continued to fall to 6.2 percent in October.
CYPRUS
Universal Bank upgrades TSYS
Prime package
TSYS Card Tech, part of global payment processor TSYS, is to supply
Universal Bank of Cyprus with upgrades to its Prime card management
system and online authorisation and switching system. The
additional functionalities will enable the bank to support EMV,
automated collections, instalment schemes and Single Euro Payments
Area compliance.
UNITED KINGDOM
UK banking services cheaper than Europe –
BBA
An independent report released by the British Bankers’ Association
(BBA) has highlighted that a typical UK customer using a range of
banking services, including credit cards, current accounts,
personal loans and savings accounts, benefits from some of the
cheapest services and products available across 11 European
countries surveyed. UK banks are among the most transparent in
their presentation of information about fees for their services,
and offer one of the broadest ranges of services available to
customers, the BBA said.
FRANCE
Oberthur and Network International unveil joint
venture
Network International and French smart card manufacturer Oberthur
Card Systems have signed a joint venture agreement to launch
Obernet, a card solution provider in the Gulf payment market.
Oberthur and Network International said that the new company will
benefit from Network International’s knowledge of the regional
market and strong commercial presence in the area. Abdulla Qassem,
chairman of Network International, said: “Our focus is on providing
great service and innovative, competitively priced products for
consumers and businesses throughout the Middle East. Together, we
will lead the way into a new era of converged and bundled card
solutions.”
PAKISTAN
PIA and American Express sign partnership
agreement
Pakistan International Airlines (PIA) and American Express Global
Network Services have signed a partnership agreement to develop a
series of co-branded card products for their customers in Pakistan.
The cards, targeted at and customised for different market
segments, will offer customers access to PIA’s Awards Plus loyalty
programme, allowing card members to earn PIA Awards Plus miles on
every purchase. In addition, cardmembers will have access to a
range of travel-related benefits and special promotions.
UNITED ARAB EMIRATES
ABN AMRO and Jumbo Electronics launch co-branded credit
card
Dutch bank ABN AMRO has teamed up with electronic merchandise
retailer Jumbo Electronics of the United Arab Emirates (UAE) to
launch a co-branded card that gives customers exclusive access to a
range of deals and financing arrangements on electronic products at
Jumbo’s 31 branches across the UAE.
BAHRAIN
Al Salam Bank and AFS sign outsourcing deal
Al Salam Bank of Bahrain has selected Arab Financial Services (AFS)
for its credit card processing services. Al Salam said that the
partnership with AFS will enable the bank to provide clients with
state-of-the-art credit card management services, incorporating the
latest international security technology. Nabeel Ebrahim Al Tattan,
banking group head and executive vice-president of Al Salam Bank,
said: “This agreement is an important step in our preparations to
launch a new Sharia-compliant credit card later this year.”
UNITED ARAB EMIRATES
NBAD signs ATM deal with NCR
National Bank of Abu Dhabi (NBAD) has signed a multi-million dollar
agreement with US ATM manufacturer NCR to increase and modernise
NBAD’s ATM network, as well as to implement an NBAD ATM
personalisation programme. NBAD ATMs will be installed at the
bank’s new branches as well as in numerous other prominent
locations across the UAE. Jamil Jeitani, general manager of NCR Abu
Dhabi, said: “NBAD’s vision of providing even better and more
intelligent services to their customers through their NBAD ATM
channel is a first in the banking sector in the area and is a
tremendous step forward for the banking industry in the UAE.”
