ScanSource POS posted its fiscal 4Q (2Q/11) and fiscal year ended June 30, 2011. With this, net income for the quarter hit $19.7 million, up 39.9% from the year ago figure of $14.0 million. The full year net income was $73.5 million, up 50.6% to $73.5 million compared to $48.8 million from the prior fiscal…
USA Technologies cashless payment and M2M telemetry solutions for self-serve retailing industries added approximately 4,000 new connections during July 2011 and added 105 new customers to its ePort Connect Service. With this, USA Technologies is boasting a total of 123,000 connections and 2,079 customers, making this the fastest start to a fiscal year for the Company in three years. Meanwhile, the Company processed a record 7.8 million transactions representing $13.4 million in small-ticket transactions, increases of 82% and 72%, respectively, compared to July 2010. USA Technologies continues to benefit from the adoption of cashless payment technology by vending operators and other owners of unattended POS equipment.
Lexcel Solutions debit payment testing applications for the financial industry will aid debit card issuers and marketplace payment providers following the recent rules enacted by the Durbin Amendment. These require banks with assets of $10 billion or larger to certify with two unaffiliated debit card networks by October 1 and issuing banks time, effort and resources to accomplish the certification process. The fee cap of 21 cents per debit transaction shines on Lexcel’s value in controlling network connectivity costs. To assist in this effort, Lexcel has updated its Lexcel Network Simulator with all payment network rules and transaction types to accommodate automated debit network testing demands and reduce the time to certify and connect with additional networks.
Citi and Best Buy is introducing a first mobile rewards app, allowing users to redeem points from Citi” ThankYou Rewards” on iPhone, iPod touch and Android devices. Citi ThankYou members can opt to shop and redeem ThankYou Points and pick up products within minutes at any Best Buy store, or have products shipped anywhere in the continental U.S. Citi ThankYou members can download the app for free from the App Store(SM) or Android Market. After downloading the app from the Apple App Store or Android Market, Citi ThankYou members will be prompted to sign in using their user name and password. Once logged in, members can search and browse the ThankYou Rewards catalog, which features a broad selection of Best Buy products, on their iPhone, iPod touch or Android device. To mark the occasion, Citi will be giving away ThankYou Points to Citi ThankYou members who download the app at the Best Buy Union Square store in New York City.
American Express and Sprint announced a new program offering mail-in rebates via prepaid reward cards. Customers who purchase a Sprint phone and are eligible for a rebate will receive the mail-in rebate via prepaid reward card. The American Express Prepaid Reward Card can then be used at millions of U.S. locations that accept American Express Cards. This ensures faster rebate processing, immediate access to funds and no fees for activation, balance inquiries or customer service. Once the Sprint customer receives the prepaid reward card, the customer can immediately activate and use the card. The Card has no fees until six months after issuance, when a $3 monthly fee applies.
ATMCASH and Remit4Change partnered to reinvest in community development projects and improve the way immigrants send money back home, offering an affordable and socially responsible money transfer solution. Remit4Change represents a collection of 1400 immigrant organizations and partnered with ATMCASH online remittance service to connect immigrants to socially-minded remittance. For each new Remit4Change customer referral, ATMCASH reinvests $20 into community development projects.
American Express announced an exclusive roster of experiences available for Cardmembers during Mercedes-Benz Fashion Week and MADE, providing access to a wide variety of runway collections and fashion events. With this, Cardmembers can visit americanexpress.com/entertainment and purchase VIP packages to experience the excitement of the Spring/Summer 2012 Collections. American Express is proud to partner this season with iconic fashion designer Donna Karan to debut the DKNY 2012 Resort Collection exclusively for American Express Cardmembers. American Express will contribute a portion of the proceeds to the Urban Zen Foundation. American Express Cardmembers also have the opportunity to purchase exclusive packages to preview select Spring/Summer 2012 collections showing downtown with MADE.
Selco Community FCU implemented the VSoft check processing solutions. With this, SELCO is implementing back office services with VSoft’s global data center, VServe, which delivers the solutions as either an ASP or a hosted model. Long-term, the credit union plans to operate check processing functions in-house. With VServe, SELCO can expect a smooth transition when it is ready to bring check processing in-house because it will maintain the exact VSoft products. VServe provides SELCO and more than 60 other financial institutions with an outsourcing alternative that each can manage directly, making the transition to RDC an easy one.
Palisade Systems Data Loss Prevention (DLP) solutions launched its “PacketSure” Software as a Service (SaaS) solution. The “PacketSure” SaaS DLP offers complete DLP functionality to end-users of all sizes and industries and is available exclusively through Managed Service Providers (MSPs). PacketSure SaaS DLP is the first product offering of the Palisade MSP Partner Program. With “PacketSure SaaS DLP,” MSPs can offer complete DLP functionality to users of all sizes and industries who want to protect sensitive data and avoid potential data breaches, and meet personally identifiable information (PII), personal health information (PHI), and personal financial information (PFI) requirements of HIPAA/HITECH, SOX, GLBA, PCI DSS and other data regulations.
Parents can now track their childs’ allowance with the BillMyParents instantly track-able, reloadable “SpendSmart Card.” With instant text alerts to both parents and teens showing real time transaction details each time the teen uses the card; the ability for parents to instantly lock or unlock the card at any time from their mobile phone, smart phone or online; and the ability for parents to instantly load funds on the card at anytime the card provides a tool for the real world. In addition to these features, the “SpendSmart Card” lets parents instantly add funds and because it is preloaded puts users at no credit risk.
MoMagic Technologies partnered with MediaTek fabless semiconductor company for wireless communications and digital multimedia solutions. With the synergies of both companies, this business cooperation aims to boost the Mobile VAS market, which is projected to see over 100% growth in next 3 years. In 2011 MoMagic was incorporated with a vision to cater to the escalating demands of Mobile VAS for users across all segments with special emphasis on entry and mid-level segment. MoMagic has plans to offer innovative solutions using different mobile connectivity mediums of SMS, USSD, Voice, WAP, 3G & Mobile Applications. MediaTek is a market pioneer in cutting-edge SOC system solutions for wireless communications, high-definition TV, optical storage, DVD and Blu-ray products.
Cashzone ATMs partnered with the National Federation of Retail Newsagents (NRFN) to provide its 16,500 members with both free-to-use and surcharging ATMs services. Cashzone will operate a dedicated NFRN customer service center, providing members who are considering or reviewing ATMs with viability and site surveys, revenue forecasts, competitor analysis and consultancy. Nearly 70% of NRFN members describe themselves as convenience stores.