On Track Innovations contactless microprocessor-based smart card solutions posted 1Q/11 total revenues of $12 million, a 17% decrease compared to $14.4 million last year. Meanwhile, revenues from licensing and transaction fees totaled $1.2 million, a 32% increase compared to $874,000 last year; a gross margin of 53%; non-GAAP operating expenses of $6.8 million, a 4%…
Steve Elefant, chief information officer at Heartland Payment Systems, has been elected to the 2011-2013 PCI Security Standards Council Board of Advisors to join its 21 current members. He will help determine strategic and technical guidance as the Council continually develops security standards and seeks to raise awareness and compliance with its guidance. He is well received as an industry leader in payment card security, having pioneered Heartland’s ” E3″ end-to-end encryption technology to encrypt sensitive data from the moment of card swipe to and through Heartland’s network. Elefant was also recently named one of ComputerWorld’s Premier 100 IT Leaders for 2011 and is also involved with various other groups and coalitions, including the US Secret Service Electronic Crimes Task Force, the Federal Bureau of Investigation’s Infragard Electronic Crimes Task Force, the Payments Processor Information Sharing Council (PPISC) and the Secure Remote Payment Council (SRPC).
XPIENT Solutions has integrated the First Data “TransArmor” solution into its POS software. Combing tokenization and encryption technologies to protect cardholder data at every stage of the transaction, “TransArmor” protects consumer payment card data from the moment it enters the merchant environment, and replaces card numbers with a token number that preserves the value of card data for merchant business operations but removes all value to fraudsters. Over 125,000 merchants process transactions on “TransArmor” payment security service, which will impact the 93,000 XPIENT terminals installed in over 25,000 restaurants.
Square announced new features for its iPad POS through its “Register” app for iPad. The app streamlines checkout, tracks sales, and makes it easy for businesses to communicate with customers on their mobile phones. The company also introduced “Card Case” for iPhone and Android users to explore local businesses; view menus; track and store digital receipts; and open digital tabs to make instant, effortless purchases. Square “Register” replaces cash registers with a full featured, touch-enabled POS and checkout solution. Meanwhile, “Card Case” on the Square app for iPhone and Android lets customers access Directory and Menus, and open Tabs at their favorite merchants, making purchasing instant.
Discover announced that the WJ Onahan School won its $25,000 School Giveaway contest for having received the most votes out of more than 2,900 schools nominated. This after Discover gave its Facebook fans the opportunity to nominate their favorite public school (K-12) for a chance to win $25,000. Each fan could cast one vote each day throughout the contest period. The Onahan School received the most votes, winning $25,000 to use on books, supplies, technology and other much-needed items. Discover’s School Giveaway contest is an extension of its year-long “Everyday Giveaway” sweepstakes program.
Bankers’ Bank has signed on with Aptys Solutions payments network provider to use the company’s image exchange and “Active Archive” modules within “PayLogics” common platform, supporting all aspects of payment processing. The platform supports image exchange, ACH processing, wire processing, payments archive, Federal Reserve messages, least cost routing, in-network exchange (INEX) payment processing and mobile payments. Bankers’ Bank is utilizing PayLOGICS’ image exchange and “Active Archive” components to leverage access to enterprise-wide payments data and analytics, which was selected based on its unified payments technology.
VSoft Corporation has partnered with Mitek Systems mobile imaging applications to launch the latter’s “Mobile Deposit.” Appealing to financial institutions on the “Agile Mobile Capture” solution, the partnership will further improve consumers’ ability to deposit checks using smartphone and tablet cameras, including Apple iPhone, RIM BlackBerry and Google Android devices. Mitek, which specializes in smartphone cameras for check deposits, bill payments and ACH enrollments, will implement its advanced image analytics and mobile image-quality assessment (IQA) tests for real-time feedback to mobile users to ensure quality images and high rates of completion for VSoft’s financial institution clients.
iPayment has completed the last step under its previously announced comprehensive refinancing in which it has redeemed the equity interests of Gregory Daily, iPayment’s former Chairman and Chief Executive Officer, and entities controlled by him or in trust for the benefit of his family members. Through the redemption agreement Mr. Daily entered into non-competition and non-solicitation covenants under which he has agreed not to compete with iPayment and not to solicit employees, sales agents, independent sales groups and merchant customers of iPayment. Carl Grimstad, who is currently President of iPayment, became the Company’s Chairman and Chief Executive Officer and iPayment’s primary shareholder.
Cinterion cellular machine-to-machine (M2M) communication modules and a Gemalto company partnered with TZ Medical critical-care medical products to introduce the “Aera-CT” mHealth heart arrhythmia monitoring device. Equipped with the Cinterion “MC75i” module, the “Aera-CT” is expected to be commercially available in North America in 3Q/11. The Cinterion-enabled “Aera-CT” improves the ability to rapidly detect heart arrhythmias during normal day-to-day activities and over long periods of time. Designed for ease-of-use and comfort, the discreet device is placed on the patient with as few as three electrodes.
United Bank Card has launched its next generation of its free electronic cash register (ECR) program, featuring software enhancements and a monetary bonus for the company’s sales partners. UBC’s in-house gift card program allow ECR merchants to take advantage of 50 free custom gift cards and a 60 day free trial and process these gift cards directly through their cash register. The software has also been optimized for faster and more reliable operation, providing the best user experience possible for our merchant customers. Merchants are able to easily customize their ECR’s keypad using UBC’s simple online wizard.
Bellco Credit Union announced new online security features and streamlined banking and reporting tools for its more than 4,700 business members. Over the past 12 months, online banking demand has increased 45% for Bellco business members as measured by transaction volume. New online business banking functionality enables members to capitalize on 24/7 secure online access to manage their transactions, access historical and trend reports, and confidently upload financial and employee records without fear of data or identity theft. Online business banking continues to offer the credit union members quick and easy, around-the-clock access to a full range of reporting tools and business banking services. These improvements include Check imaging, eStatements, Funds transfer and its Business credit card.
Starbucks has signed a deal with Barclaycard and Visa Europe to make available contactless payments in its coffee shops, allowing customers in selected stores to pay by holding their contactless credit or debit card to a payment terminal. Subject to a successful initial pilot of contactless in Starbucks shops, the technology will roll out across the bulk of Starbucks coffeehouses in the UK and Ireland. Starbucks joins a number of high street retailers in announcing the introduction of the payment technology. Barclaycard has led the industry on rolling out contactless payment terminals and together with Barclays have issued over 80 per cent of the contactless-enabled credit and debit cards in the UK.