Lower-income consumers frequently shop but generally spend less per trip than average, often shopping with only a paycheck or pocket cash. African American lower-income consumers make the most retail shopping trips per year with 177 trips, seniors make 169, and Hispanics make 168. Lower-income households with children spend the most at $39.65 per trip, followed by younger households at $37.58.Lower-income shoppers will generate $115 billion in incremental spending during the next decade, according to SymphonyIRI Group and its fourth annual “The Lower-Income Shopper Report: Serving Lower-Income/Multicultural Shopper Micro-Segments” research report. At the same time, 49 percent of lower-income shoppers are much more likely to track their spending during the trip and make budget driven decisions on the fly versus 38 percent of higher-income shoppers. During the past two years, half of lower-income shoppers report that they have decreased spending in discretionary areas, including home furnishings and furniture, in order to better afford essentials, such as food and healthcare.
Daniel L. Miner has been appointed GM, treasury services with 3Delta System online credit card payment solutions. Bringing with him nearly 30 years’ payment industry experience, Miner will lead 3Delta Systemsâ business development and help define products in the treasury management segment of the market, responsible for strengthening 3DSIâs business-to-business payments processing platform, broadening its product line for payment receivables and disbursements as well as enhancing the companyâs business processes and organizational controls. He came to the Company most recently from Treasury Strategies treasury management consultancy while, between 2004-2008, he served as senior director of electronic check and affiliate NACHA, where he led its two largest membership programs and led risk management initiatives for the ACH network. He holds a BA, science in business administration from the University of Illinois.
Gemalto’s US-based advanced manufacturing and service center has received the security assurance certification from the North American Security Products Organization (NASPO). The audit renewed the certification of Gemaltoâs security practices and procedures against the ANSI/NASPO Class II âAssurance Standards for the Document and Product Security Industries.â With this accredidation, Gemalto passed NASPO evaluation of its manufacturing and services processes, security controls for the supply chain and critical component suppliers, as well as policies and procedures to ensure only authorized customers have access to finished products. The facility produces, personalizes and delivers a broad range of secure products, including credit and debit cards, contactless payment cards, subscriber identification modules (SIMs) and universal identification cryptographic cards (UICCs) for mobile telecom.
Card Activation Technologies has filed a suit against seven large national retailers. The retailers include convenience stores, specialty apparel and clothing stores, fashion accessory and jewelry stores, casual dining restaurants and consumer electronics stores for utilizing its stored value cards and consequently infringing its patents. The Company is actively seeking to license its patent to the thousands of current users. The total number of stores included in all of the above is approximately 15,000. IL-based Card Activation Technologies owns the patent rights to a proprietary payment transaction method used for processing gift cards and other debit purchase transactions.
USA Technologies wireless non-cash transactions has reported a total
revenue for 2Q/10 having increased by 23% to $4.5 million, compared to
$3.6 million in the year ago period. Also since the year ago period,
gross profit more than doubled to a record $1.5 million from $690,000;
gross profit margin expanded to 34.0%, compared to 18.9% a year ago;
while EBITDA improved to a loss of $1.6 million for the quarter, and
improvement from the year ago loss of $2.5 million. The Company also
increased the number of devices connected to its network by 58% to
approximately 82,000; the number of cashless transactions processed
during the quarter increased by 73% to 11,655,000, compared to the year
ago figure of 6,736,000 transactions processed; the dollar value of
transactions processed during the fiscal fourth quarter increased by
54% to $20.8 million, compared to $13.5 million last year; and
approximately 150 new customers were added to its “USALive Network”
throughout the quarter for a 100% increase during fiscal 2010.
USA TECH EARNINGS
Net Loss $ (2,089,803) $ (2,918,336)
Interest Income (48,281) (19,693)
Interest Expense 12,184 20,050
Depreciation 264,273 161,566
Amortization 258,600 258,600
EBITDA $ (1,603,027) $ (2,497,813)
SOURCE: USA Technologies
PaymentOne has introduced its “AnyPhone” payment services that provide simple and secure options for online and mobile consumers to pay for their virtual currency, digital subscriptions, mobile applications and other online services from virtually any device. The “AnyPhone Network” enables over a billion worldwide consumers to have their common digital transactions, including their virtual currency on social media and/or subscriptions to their favorites online services, charged to their existing and trusted mobile, broadband or home phone bill. The “AnyPhone Network” is offered to large scale and emerging publishers, developers and merchants and is built for rapid deployment and customization with a small piece of auto-generated HTML code and highly customizable iframes.
Canadian-based EnStream has partnered with Western Union global payment services to allow its “Zoompass” users to send cross-border and domestic money transfers directly from their mobile phones. The “Zoompass” solution provides Canadians a way to send, receive and request digital currency within Canada using their mobile phones. With the Western Union partnership, users will be able to send funds directly from their mobile wallets while recipients can pick up their funds in cash at more than 380,000 Western Union Agent locations in 200 countries and territories. Zoompass users also will be able to send mobile-to-mobile transactions to subscribers of mobile phone companies with whom Western Union has launched the Mobile Money Transfer service.
Lecere Software has obtained approval to charge its restaurant customers’ credit/debit cards for internal credit/debit card processing and credit/debit its restaurant customers’ bank account using ACH processing for EFT. Lecere’s processor is National Merchant Center, a PCI-DSS Validated Service Provider. When a restaurant signs up for Lecere’s FIRMS software, they must provide a credit/debit card or bank account number. The account is charged $150 at registration for a wireless router that we send to the customer and then charge the credit/debit card or bank account monthly, per the pricing model.
ID TECH automatic identification products is set to deploy the Voltage Security encryption end-to-end data protection across its POS financial transaction product and component offerings, including magnetic stripe, smart and contactless card readers, POS keyboards, signature capture devices, and secure PIN entry products. ID TECH products are implemented by NCR, Micros, HP, Red Box, Motorola and Ticketmaster to drive their payment solutions. ID TECH also announced it is joining the Voltage “SecureData Open License Program,” designed to lower the barriers to implementing end-to-end encryption across a wide variety of payment systems for POS devices, Electronic Cash Registers (ECRs), m-payment devices and eCommerce payment platforms. For ID TECH, Voltage “SecureData” encrypts cardholder data immediately; requires no need to inject keys into devices or manually rotate encryption keys; and employs end-to-end encryption across the widest range.
ScanSource is now offering merchant services and key injection to its reseller partners with its “Payment Solutions Suite,” for which it has partnered with First Data. This includes ScanSource “Merchant Services” and ScanSource “Key Injection Services” offerings to enable resellers to offer a more complete POS solution to their end-user customers. By offering electronic payment solutions to their end-user customers, ScanSource resellers are provided a new reoccurring revenue stream since merchant services, batching and processing were previously handled by third-party companies that received all associated fees. ScanSource is now offering key injection services, enabling resellers to more easily load and manage POS encryption keys and is able to take costs and time out of the process, enabling the reseller to add an enhanced level of service and efficiency to the end-user customer.
Canadian-based EnStream has partnered with Western Union global payment services to allow its “Zoompass” users to send cross-border and domestic money transfers directly from their mobile phones. The “Zoompass” solution provides Canadians a way to send, receive and request digital currency within Canada using their mobile phones. With the Western Union partnership, users will be able to send funds directly from their mobile wallets while recipients can pick up their funds in cash at more than 380,000 Western Union Agent locations in 200 countries and territories. Zoompass users also will be able to send mobile-to-mobile transactions to subscribers of mobile phone companies with whom Western Union has launched the Mobile Money Transfer service.-The Western Union Company (NYSE: WU), a leader in global payment services, and EnStream LP, creators of the Zoompass Mobile WalletÃ¢ÂÂ¢, today announced a strategic alliance that will allow Zoompass users to send cross-border and domestic money transfers directly from their mobile phones.
TransFS.com is changing its name to FeeFighters, effective immediately. Users who visit TransFS.com will be redirected to FeeFighters.com and greeted by a friendly financial ninja, offering an accurate comparison shopping site for credit card processors, ensuring that merchants get the lowest rates from the provider that best matches their needs. Merchants are given apples-to-apples bids from top tier processors for easy comparison. To date, FeeFighters has helped its users save an average of 40% on their credit card processing costs. With this, FeeFighters advocates its site as the best place on the internet to shop for credit card processing.