Product & Service
Visa E-Commerce Transactions Up
FOSTER CITY, Calif.-For the first time ever, Visa debit card e-commerce transactions have actually surpassed credit card transactions during the first quarter of 2005, the card company announced.
Previously, debit transactions had never so much as drawn even with credit transactions, according to Visa, which reported 52% of its card transactions were debit transactions compared with 48% being credit card, signaling a trend towards debit transactions.
TOPCU Teams With InfiCorp
PETERBOROUGH, N.H.-Brookwood Capital has established an agent issuing relationship between Tucson Old Pueblo CU and InfiCorp. Under the agreement, InfiCorp will purchase the CU's existing card portfolio and issue cards for TOPCU under the credit unin's name. As of Dec. 31, 2004, the CU reported about 3,700 credit card accounts and $7.7 million in receivables.
For info: tkolk
Elan Brokers Deal For UCU
BOSTON-Elan Financial Services has formed a credit card partnership with University Credit Union, Boston in a transaction facilitated by Kessler. Under the terms of the partnership, Elan has purchased the existing credit card portfolio and will continue to issue credit cards bearing the University name for credit union members.
TNB Converts 5 CUs To STAR
DALLAS-TNB Card Services has finished converting the first five credit unions to migrate to its new STAR(r) Network platform for ATM, PIN-secured and signature-based transactions.
The five credit unions are Jersey Shore FCU in Northfield, New Jersey; IBM Texas Employees FCU in Austin, Texas; 1st University CU in Waco, Texas; BP FCU in Houston, Texas; and Texas Industries Employees CU in Midlothian. Texas.
The STAR Network offers PIN-secured debit acceptance at 1.6 million ATM and retail locations.
For info: www.tnbcard.com or call 888-742-0260.
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