With unemployment down in February to 8.9% from 9.0% in January, having fallen 0.9% since November 2010, and the U.S. consumer credit charge-offs declining for the fifth consecutive month of improvement by another 32 basis points (bps) to 8.05%, the Conference Board’s Leading Economic Index for the U.S. increased 0.8% in February to 113.4, following…
Global Axcess self-service kiosk solutions released its 4Q/10 and FY/10 fiscals posting positive, year-over-year gains in both regards. The Company reported consolidated revenues of $6.1 million for 4Q/10, compared to $5.4 million for the 4Q/09, for a 12.6% increase. This was thanks in great part to $790,000 of DVD rental revenue for the fourth quarter of 2010 compared to approximately $33,000 in the year-ago period. Gross profit was $2.0 million, or 33.7% gross margin, for the fourth quarter ended December 31, 2010, compared to gross profit of $2.5 million, or 47% gross margin, for the same period of 2009. Meanwhile, for the fiscal year 2010 Global Axcess total revenue was $22.7 million, an increase of 5.8%, compared to $21.5 million for the same period of 2009. Gross profit for the fiscal year ended December 31, 2010 was $9.4 million, or 41.3% gross margin, compared to $10.2 million, reflecting a gross margin of 47.4% for the comparable 2009 period.
Subsequent to these figures, 1Q/11 surcharge transactions are expected to be 8% above 4Q/10 surcharge transactions, thanks in part to having increased ATM surcharge fees to select ATMs. The average surcharge fees per company-owned ATM after the increase was $2.80 per surcharged transaction compared to $2.58 prior to the increase. Meanwhile, total DVD services revenue in 1Q/11 is expected to be a 52% increase over total fiscal year 2010 revenues in the DVD services business while total ATM services revenue for the 1Q/11 is expected to be the highest quarterly revenue the Company has reported for its ATM services business.
Citi’s Global Transaction Services is joining the Syncada from Visa network. Providing Citi clients a specialized solution for managing transportation accounts payable, the partnership will offer increased efficiency with transparency, flexibility and greater control. The Syncada Network processes invoices, makes payments, and facilitates the financing of payables through a network of financial institutions. Through specialized audits, Syncada addresses the complex audit needs requirement to manage transportation payments. Inefficient manual invoicing and approval processes can extend processing times and increase processing costs, causing late payments and poor financial visibility”a major pain point for corporate and government clients.Citi can offer their clients a series of financing programs via Syncada to better manage their cash flows.
3i Infotech global information technology and business process outsourcing (BPO) company has forged agreements with Zumbox digital postal mail services, allowing 3i Infotech clients to send electronic bills and other customer communications via Zumbox. Among other valuable benefits, the partnership will assist 3i Infotech clients in driving electronic bill adoption, promoting print suppression and cutting costs. Especially for utilities, insurance, financial services companies and others who need to accommodate changing preferences in how customers choose to receive and pay their bills, the partnership is part of 3i Infotech’s expansion of its electronic billing and payment services. Zumbox archives and presents mail to consumers in a secure, central online environment, instead of on paper. Zumbox has created a digital mailbox for every street address in the United States, connecting large transactional, financial and government mailers to consumer households for the protected, on-time delivery of postal mail online.
Jack Henry & Associates has officially kicked off its “My NetTeller,” solution, allowing accountholders to create customized dashboard-style landing pages of their most commonly used online banking functions. The company also provided an update on its ongoing success with “OurCashFlow” online financial management (OFM) solution that is fully integrated with NetTeller Online Banking platform. With “My NetTeller” accountholders can customize their online banking environment by selecting the functionality they want to see when they log in. They just drag and drop widgets to create a dashboard-style view of online banking features such as funds transfers, electronic bill payments, and transaction downloads. The ability to place frequently used functions in a more accessible and obvious location simplifies site navigation and makes the online banking experience more efficient, convenient, and intuitive for each user. Meanwhile, the “OurCashFlow” online financial management (OFM) solution available through Jack Henry & Associates’ strategic partnership with Lodo Software transforms financial institutions’ websites into financial management hubs that enable consumers and small businesses to access and manage their finances in consolidated, easy-to-use dashboards. It automatically categorizes financial transactions; supports internal and external account aggregation; tracks budgets, spending habits, and savings goals; and generates user-defined alerts.
Laru is set to showcase its “ACH Vision RDFI” at NACHA’s Payments 2011 conference in Austin, following up on its recently released “ACH Vision ODFI” product targeted at originators and originating DFIs. By leveraging the knowledge from past transactions and application of Laru’s proprietary business intelligence methodology, ACH Vision RDFI will automatically alert RDFI personnel to transaction anomalies, so they can take appropriate action a priori and protect the bank and its customers. ACH Vision RDFI works with Laru’s other products, ACH Clarity and ACH FileFox and fits in line with the financial institution’s ACH processing pipeline.
Lecere Corporation, a software as a service (SaaS) development company, has joined with TekTango to integrate the iPay Mobile Point of Sale payment processing application with their flagship FIRMS restaurant management software. The two companies have partnered, allowing Lecere to focus on providing a fully-integrated, internet-based restaurant management system leveraging iPay Mobile Point of Sale to provide secure table-side credit card processing, tip and signature capture using mobile devices.
Acculynk and SHAZAM announced its “PaySecure” software-only payment method for Internet PIN debit will serve SHAZAM’s eligible banks and credit unions. SHAZAM began enabling more debit/ATM cards for PaySecure in Q4 of 2010, and this month will add nearly all eligible debit/ATM cards in their issuing portfolio. PaySecure is implemented into the online merchant checkout and utilizes a patented, graphical PIN-pad for PIN entry. Consumers use their existing debit card and financial institution-issued PIN to pay with PaySecure right on the merchant website. There are no passwords, enrollment or redirection required, making it a simple payment service for consumers to use for their everyday Internet shopping.
Expert Group financial services provider has now processed more than 5,000 transactions of all sizes. Coincidentally, the Financial Services Company has added Hotel Shelly, Park Central Hotel, 7th Street parking garage and Grand Central to its portfolio of ATM locations, with many more presently under negotiations. Expert Group provides services and partnerships for its ATM placements.
Mint.com has made available its online “Quest for Money” game, providing free tools to help middle school students learn essential and long-lasting personal finance skills and is part of Intuit financial literacy program. In conjunction with Scholastic, the Companies designed “Quest for Money” as a way for young people to learn about money management strategies like earning and saving money, and budgeting to meet specific financial goals. The game challenges players with questions about money, shopping and saving – rewarding them for smart choices and correct answers. Mint’s financial literacy program provides teachers with lesson plans and online resources, and parents with family activities and worksheets that can be used at home.
First Data Corporation has been recognized as one of the Top 10 Innovative Technology Companies in Georgia by the Technology Association of Georgia (TAG), the association dedicated to the promotion and economic advancement of Georgia’s technology industry. The Top 10 Innovative Technology Company Awards recognize Georgia-based companies for their innovation, financial impact, and efforts in spreading awareness of Georgia’s technology initiatives throughout the U.S. and beyond. In addition to a comprehensive mobile commerce suite that includes mobile vouchers, eGifting and a Trusted Service Manager (TSM) platform, First Data continues to innovate in areas such as prepaid, eCommerce and payments security. These innovations can be quickly delivered to the company’s large global customer base, which includes 6.2 million merchant locations.
Amadesa single platform for website testing and relevancy targeting solutions to enhance conversion rate optimization and engagement activity has achieved PCI-DSS compliance. After a thorough evaluation process, an external auditor found that Amadesa has taken sound, industry- standard measures to establish a solid set of security controls and procedures that help ensure customer safety while onsite. PCI certification adds tremendous value to Amadesa’s full suite of testing and relevance targeting solutions and distinguishes it from other, potentially less secure providers.