Sixty plus day delinquency numbers have steadily decreased since the peak of 4.96% in January 2010 to 2.37% in the July 2011 reporting period. Now Fitch is making projections for chargeoffs to improve, after having come down from a peak of 12.66% in April 2010 to a 12 month average gross of 8.62% for July…
The Department of Justice announced in order for VeriFone Systems to complete its acquisition of Hypercom, it must divest Hypercom’s United States POS terminals business to an entity sponsored by Gores Group. The department said that the divestiture should eliminate the merger’s potential to harm competition in the sale of POS terminals. Shortly after the…
Cardtronics retail ATM owner expanded its ATM management services agreement with The Kroger grocery retailer, having added 350 ATMs to both its retail ATM footprint and Kroger relationship, which was first conceived in 2010. The ATM additions are underway in Ralphs, Food 4 Less and Foods Co. grocery stores in California and Nevada, as well as Tom Thumb convenience stores in Florida and Alabama. As the largest single provider of ATM services to the Kroger family of stores, Cardtronics now manages ATMs in more than 1,150 Kroger-owned grocery and convenience stores, with that total spread across 32 states and 13 of Kroger Co.’s local banner names. Overall, Cardtronics operates over 37,100 ATMs in the United States, the United Kingdom, Mexico, and the Caribbean, primarily with well-known retailers such as 7-Eleven, Chevron, Costco, CVS/pharmacy, ExxonMobil, Hess, Rite Aid, Safeway, Target, and Walgreens.
Payment Data Systems electronic payments solutions announced July 2011 set a record for its transactions processed, with the Month’s ACH (electronic check) processing volumes the highest in its history. Volumes were up 85% and ACH returned check transactions were up 144% from the year ago period while credit card processing dollar volumes were up 26% from June of 2011 and up 64% over July of 2010. Payment Data Systems is an integrated payment solutions provider to merchants and billers and provides products to deliver payment acceptance.
Oceanside Software Corporation formally announces PA-DSS 2.0 certification for their flagship product, Oceanside Point-of-Sale. The overall goal is to accept electronic payments while also protecting the cardholder’s personal data. In July of 2010 the PCI-DSS standards council mandated that all payment applications certify in accordance with the payment application data security standard, for which Oceanside Software received official acceptance as a validated payment application. This accomplishment marks a tremendous milestone for Oceanside as they are one of only a handful of companies that have officially certified against the latest 2.0 standard.
eLayaway internet layaway payment processor added Wedding Rings Depot to its merchant base, supporting eLayaway’s current growth and expansion strategy. eLayaway continues to invest significant funds into its proprietary technology that will drive its revenue model and bring the Company closer to profitability. The prime timeframe for researching and paying for the rings was 6 months. eLayaway receives inquires from merchants throughout the US trying to meet their customers demand for layaway. eLayaway provides a one stop solution for both parties.
EDOM Technology IC distributor launched Silicon Labs’ “Si24xx” ISOmodem family, featuring lower power, reduced BOM costs and flexible interface options. The “Si24xx” data modem ICs also address voice and machine-to-machine (M2M) communications for security and POS terminals. When combined with Silicon Labs’ “Si3000” voice codec, the “Si24xx” data modems support handset, speakerphone, voice menu and answering machine implementations. Developers can easily add telephony and voice functions to any embedded system, without the need for the dedicated voice processing ICs or host-based DSP software required by legacy approaches. The “ISOmodem” family supports specialized protocols used in security and POS applications.
Cintas Corporation secure document management services, announced it earned PCI-DSS compliance for the fourth consecutive year. This verifies that all Cintas document storage and shredding locations continue to meet the stringent and comprehensive requirements set by the PCI Security Standards Council to ensure physical information security. Cintas’ cost-effective document management services are designed to provide businesses with data privacy and security, compliance with regulatory requirements and immediate access to information.
eBay is set to officially launch its Outlet Stores on Sept. 19, according to eCommerce Bytes. Among the retailers that will participating include Neiman Marcus Last Call, Spanx, Timberland, Brooks Brothers, Bluefly and Custo Barcelona. The site will target women 25-44 and offer 20-60% discounts, adds site iStockAnalyst. eBay’s UK fashion Outlet launched in April 2010 and now has over 30 participating merchants, including Ted Baker, Karen Millen and Office and Kookai.
CashStar digital gifting and incentives has expanded its position in the B2B and incentives market, adding six new distribution partners, representing hundreds of incentive programs and millions of dollars in eGift Card sales. The Company also added 15 of North America’s leading brands to its B2B product suite client roster, representing an additional $1.5 billion in potential sales. CashStar’s digital gifting and incentives platform enables distribution partners to easily deliver highly-personalized eGift Cards across online, mobile and social channels through an easy-to-use Web interface. CashStar continues to attract distribution partners looking for a trusted digital gifting provider. These new distribution partners join CashStar’s exclusive roster including Bridge2 Solutions, eBillme™, Great Lakes Scrip Center, National Gift Card Corporation and SVM, representing more than $3 billion in gift card sales.
Universal Business Payment Solutions announced EarlyBirdCapital notified eparate trading of the shares of common stock and warrants underlying the units will commence on or about August 8, 2011. The common stock and warrants will be quoted on NASDAQ under the symbols UBPS and UBPSW, respectively. Units not separated will continue to be quoted on NASDAQ under the symbol UBPSU. Universal Business Payment Solutions Acquisition Corporation is a blank-check company specializing in acquiring or merging with an operating business in the payments industry.
Michael Burtscher and Rolf Visser have recently joined the Payvision international payment solutions as the Vice President of Business Development and Vice President of Global Marketing, respectively. Burtscher has been actively focused on all operations involving international acquiring for Payvision’s partners and merchants while Rolf Visser has been strategically coordinating a global marketing plan to expand Payvision’s forefront position in the industry. Michael Burtscher will be working closely with the Payvision management team to help develop the payment processing capabilities and robust network in order to assert Payvision’s relevance throughout the European marketplace. Burtscher brings almost a decade of experience and expertise in the international acquiring arena while Visser brings 22 years of experience in sales and marketing to the Payvision table, having worked for GlobalCollect payment service provider as Head of Global Online marketing.