FDC 3Q/02

First Data reported 13% revenue growth in the third quarter, and a doubling of earnings per share compared to last year. However the company said yesterday it is paying very close attention to consumer behavior at the point of sale during the fourth quarter and its potential impact on revenue. The Payment Services unit produced $821 million in 3Q/02 revenue, a 19% gain and a 21% gain in profits compared with 2001 pro forma profits. The Card Issuing Services division produced operating profits of $97 million, a 4% from 2001 pro forma results. However, CIS revenue was down 3% to $485 million. The Merchant Services unit, comprised primarily of First Data Merchant Services and TeleCheck, generated $703 million in revenue, a 21% gain. Profits rose 10% on a pro forma basis to $196 million. Merchant processing transactions grew 18% for the third quarter to 2.6 billion. Emerging Payments, First Data’s eONE Global business, which accounts for 2% of First Data revenue, reported $38 million in revenue for the quarter. For complete details on FDC’s third quarter results visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com


Belgrade-based VIDRA Info, a wholly owned subsidiary of the Arius Group
has signed a deal to become VeriFone’s channel partner in Yugoslavia. The
first contract from the partnership resulted in the first shipment of 1,000
“Omni 3750” terminals to the Komercijalna Bank of Yugoslavia. The “Omni
3750” has proved to be the fastest selling model in VeriFone’s history
reaching a milestone of 70,000 terminals shipped in the eight months since
its launch in January of this year. VIDRA info’s parent company, Arius
designs and produces software for the implementation of specific
information systems and has recently formed a joint venture with
Komercijalna Banka and Euronet to set up and run a processing center for
POS and ATM transactions in Yugoslavia. Komercijalna banka is a Europay
principal member, a VISA associate member, an exclusive American Express
agent and YUBA card issuer.

HK Business Cards

Hong King’s Dah Sing Bank has launched a “MasterCard Corporate Card” and a “MasterCard Corporate Purchasing Card.” As part of the product launch, Dah Sing has signed an agreement with the corporate card unit of GE Consumer Finance under which multinational customers of “GE Corporate Card,” including 10 GE businesses with operations in Hong Kong, will be the first organizations to use the new Dah Sing business card products. Dah Sing also announced its alliance with GE Corporate Card. whereby Dah Sing Bank will issue Hong Kong Dollar-denominated corporate cards to GE’s subsidiaries and clients in the territory. This arrangement will allow GE to serve its clients with operations in Hong Kong without the complexities of running a credit card center here and for multinational clients it will minimize payment of high exchange rates.

eConnect Ousts CEO

CA-based eConnect, developer of the “eCashPad” terminal and a company dogged by investor lawsuits and SEC problems, announced Thursday that Chairman/CEO Thomas Hughes has resigned and has no further connection to the company and has been replaced by Christopher Jensen as Acting CEO. eConnect Inc. is focused on delivering next-generation e-payment solutions. The Company develops proprietary hardware, software and transaction-processing services and believes that hardware-originated transactions are the future of Internet commerce and will benefit both the customer and the merchant.


Trintech Group announced it remains committed to implementing its
previously announced program to buy-back up to $5 million of its shares and
will do so following approval of the Irish Takeover Panel. The company says
it is in the process of securing approval from the Panel to engage in a
buy-back of shares on the open market without triggering the requirement
for the largest shareholders to make a mandatory bid for the Company. One
such rule is that if the percentage ownership of a group of investors
acting in concert owning more than 30% of the share capital increases, the
connected investors may be required to make a mandatory bid for the
Company. John and Cyril McGuire, being brothers, are considered technically
to be acting in concert under the Takeover Panel rules and their relative
percentage ownership would increase as the Company bought back its own shares.