Consumer Confidence Hits 2012 Low

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Having reached its lowest level of the year, the Discover U.S. Spending Monitor declined 1.4 points to 89.3. Having last dropped below 90 in December 2011, the monitor performance in July is reflecting concern over the economy with 53% of respondents convinced the U.S. economy is poor. However, consumers who expect…

Dollar Bank Deploys mRemote Deposit

Dollar Bank has implemented WAUSAU Financial Systems’ “Deposit 24/7 Mobile” mobile remote deposit capture solution from its Deposit 24/7 Suite. The bank has seen great success, processing nearly 2,500 deposits totaling $500,000 through the solution. A 2011 Celent study notes that approximately 80 percent of surveyed financial institutions are considering a mobile RDC solution, but as a Javelin and USAA study shows, many aren’t taking action. Despite the benefits of the technology for all parties and its “must have” status to keep up with consumer demand and achieve cost savings, several of the 10 largest U.S. financial institutions still aren’t offering mobile RDC to customers. WAUSAU is currently expanding its “Deposit 24/7 Suite” to provide the small and mid-tier business markets a receivables hub that accepts checks and electronic payments for ACH and credit card.

TSYS Inks JV with Central Payment

TSYS announced its joint venture with Central Payment, in which it holds a 60% stake and will function as a TSYS affiliate. The Central Payment privately held direct merchant acquirer focuses on merchants in the restaurant, personal services and retail sectors and currently uses TSYS technology for payment processing. The joint venture will be governed by a board of directors including both TSYS and Central Payment executives.

Global Cash Access Posts 2Q/12 Net Income Up 450%

Global Cash Access Holdings posted 2Q/12 operating income up 125% quarter-over-quarter to $16.0 million; net income per share up 450%; and cash EPS increased 92% quarter-over-quarter to $0.23. Revenues were $147.5 million for the second quarter 2012, as compared to revenues of $135.1 million for the same period in 2011. The overall increase in revenues was primarily due to the MCA asset acquisition coupled with modest organic growth in the Company’s base business. Operating income was $16.0 million for the second quarter 2012, an increase of 125%, as compared to $7.1 million for the same period in 2011. Earnings before interest, taxes, depreciation and amortization (“EBITDA”) (see Non-GAAP Financial Information below) were $20.1 million for the second quarter 2012, an increase of 68%, as compared to $12.0 million for the same period in 2011.

Bremer Financial Implements FIS Core Solution

Bremer Financial is set to deploy FIS’ core banking solution for its commercial services, along with FIS’ item processing, treasury and cash management, image technology, ACH, branch automation and analytics solutions. Bremer selected FIS for its ability to deliver a true end-to-end core relationship solution that solves the complex challenges facing the growing bank and supports its customer-centric focus. The comprehensive functionality of FIS’ core processing solution will enable Bremer Financial to reduce the number of third-party systems used, resulting in significant improvements in operational efficiencies. FIS delivers comprehensive core solutions that are designed to meet the strategic needs of banks of all sizes. Personalized service, competitive choices and maximum convenience are the standards that set FIS’ solutions apart and provide clients with the means to meet, and often exceed, their strategic business goals.

Agilysys Launches mPOS Software System

Agilysys marketer of proprietary enterprise software, services and solutions made available its “NextPosition 3S” next-generation mobile POS software system. Designed to work with the SAP POS application 2.3, the software extends and expands the Agilysys NextPosition MPOS functionality through integration with SAP POS via a modern, mobile user interface for the store associates. Agilysys worked closely with SAP to develop a feature-rich solution that integrates with the SAP POS and related applications for retail stores and enterprise systems without requiring additional middleware. The integration with SAP POS, leveraging the SAP Afaria® mobile device and application management solution, allows Agilysys to deliver the full functionality of a retailer’s POS system to a mobile device.

Wells Fargo Small Business Optimism Down 6 Points

The Wells Fargo/Gallup Small Business Index declined six points to 17, which virtually erases gains experienced earlier this year. The number of business owners expecting to be in a good financial position over the next 12 months declined seven percentage points to 59% and those expecting increased revenues in the next 12 months declined by six percentage points to 43%. Despite the decline in the Index score this quarter, business owner optimism has improved significantly from the Recession low point when the Index dipped to minus 28 (-28) in 3Q/10. With the number one reason cited for not making a small business investment being concern about the overall state of the economy, small business owners planning to make capital investments over the next 12 months say they intend to make them in new equipment/machinery (64 percent) and technology, such as computers (61 percent), new software or websites (56 percent), and mobile devices (52 percent). But business owners who said they plan to make a capital investment over the next 12 months say they are planning to pay for it using business revenue/profits (93 percent); credit (39 percent); and savings (31 percent).


Harbortouch America POS Systems launched information on several new user-friendly features on their website for online access to its POS management and reporting tool known as the Lighthouse Feature and the launch of the more powerful All in One (AIO) Elite System. Harbortouch America has also added a new video narrative for its Free POS Program, walking viewers through the structure of the Free POS Program and also offers business owners the option to enter their information online to receive a full proposal.

ViVOtech Sells Reader Business

ViVOtech completed the sale of its ViVOpay reader business to ID Tech, a manufacturer and supplier of smart card and credit card readers to PCI compliant payment solutions. ID Tech is committed to providing a smooth transition for ViVOpay’s existing customers and relationships. VIVOtech has been executing a strategy to divest its ViVOpay reader business to a qualified buyer and focus on its ViVOnfc Software business. Now the sale of the Reader business is complete, the company is focusing energy on the continued support of our customers, contracts and partners for the growth of business.

Navy Army Community Credit Union Selects Fiserv Deposit

Navy Army Community Credit Union has selected a range of Fiserv solutions to enhance its check deposit and processing services, including Branch Source Capture™, ATM Source Capture™, the Fiserv® Clearing Network and mobile capture and item processing capabilities. With ATM and Consumer Source Capture from Fiserv, members will benefit from the ability to deposit checks at the closest ATM or at home, whenever it is most convenient for them. Additionally, with the cross-channel duplicate detection capabilities available through Source Capture Solutions®, Navy Army can easily detect duplicates across all of its capture channels. Navy Army has been a Fiserv client for more than 20 years and uses Fiserv’s DataSafe® for core account processing, CheckFree RXP for online bill payment, LynxGate for ATM management and VirtuosoTM for online banking.

Datacard Group Deploys Card Issuer Software Upgrade

Datacard Group made available its software upgrade package to help U.S. card issuers on its “CardWizard” issuance software migrate to EMV compliant smart card programs. Building on “CardWizard” and “Affina” smart card software, the software upgrade includes a phased approach to affordably integrate smart card personalization into their existing card issuing environments. The software upgrade along with SafeNet’s HSMs will help customers meet worldwide standards and requirements for EMV compliant card programs, as well as compliance with Visa® and MasterCard® security recommendations.

Bank of America Merrill Lynch Global Transaction Services Appoints Directors

Bank of America Merrill Lynch today announced Bill Borden has been named managing director and head of North America Product Solutions and Dennis Sweeney has been named managing director and a Treasury Solutions Executive. As head of North America Product Solutions, Borden will manage the North America Product Sales teams that cut across Global Corporate Banking, Global Commercial Banking and Business Banking. He was most recently with Citigroup, where he was responsible for leading the team focused on developing Cash Management and Securities Fund Services relationships with U.S. state and local governments. Sweeney will work closely with various teams and global product leaders to provide senior finance executives at Bank of America Merrill Lynch’s largest global clients with advice, expertise, best practices and trends related to their treasury platforms. He was previously with General Electric for 20 years, most recently as Deputy Treasure.