Heartland Payment Systems payment processors posted 3Q/11 net earnings of $12.6 million with a net Income of $12.7 million, compared to the year ago figure of $8.0 million. Meanwhile, revenues hit $532 million, up from the year ago figure of $499 million and the $526 million posted in 2Q/11, while merchant quarterly transaction processing volume…
Jeffery Keith has been appointed executive VP with Cardtronics’ Global Operations Group to ensure U.S.-located ATMs dispense cash 24-hours per day. Keith also oversees general management of ATM performance monitoring; cash management; technical support; field service; customer call center; inventory; purchasing; and global vendor relations. Having most recently joined EDC in 2007-which Cardtronics recently took over- Keith served as its executive VP, Business Development. Before this, he served as president of BVIG Financial since 2002, until EDC ATM acquired the company in 2007.
USA Technologies cashless payment and M2M telemetry solutions for self-serve, small ticket retailing industries, announced in 3Q/11 it handled 25 million transactions representing $42 million in small ticket transactions, increases of 79% and 75%, respectively, from 14 million transactions representing $24 million the year ago period. The Company increased the number of customers on its ePort Connect Service during the quarter ended September 30, 2011 by approximately 300, to over 2,225 at September 30, 2011, and increased connections to its Service by approximately 10,000 to a total of approximately 129,000 at September 30, 2011″an increase of 85% in customers and 47% in connections when compared to the same date a year ago.
FIS banking and payments technology has signed more than 80 new agreements worldwide for its prepaid card processing solutions this year. Providing financial institutions and retailers with new product opportunities that will attract and retain customers, prepaid programs are also increasingly being utilized by government entities around the world to provide cash-based benefits to their residents. FIS prepaid processing solutions includes prepaid card processing set up and management, card production and personalization, inventory management and customized distribution solutions, transaction processing, fraud detection and prevention, funds settlement, call center and IVR/VRU customer service, dispute processing, detailed reporting and mobile and Web hosting services.
Green Dot prepaid financial services with GE Capital Retail Bank and Walmart has expanded the “Walmart MoneyCard” prepaid card product line sold at Walmart stores nationwide and online at walmartmoneycard.com. The “Walmart MoneyCard” is issued by GE Capital Retail Bank and has added three new products to the current suite of offerings, including a Visa Gold MoneyCard, a MasterCard Family Edition MoneyCard and a MasterCard Bill Pay MoneyCard. This is in conjunction with the “Do More With a MoneyCard Card” campaign, updated permanent signage in the Money Center featuring the full product line and seasonal signage for both the Money Center and Customer Service Center.
Vantiv payment processors announced three credit unions have signed contracts for single-sourced comprehensive electronic processing services. The services include ATM and debit card transaction processing, card production, gateway services, rewards and debit portfolio management. The credit unions include First U.S. Community Credit Union; Fort Worth Community Credit Union and USSCO Johnstown Federal Credit Union. Vantiv’s product suite also includes ATM terminal driving and monitoring, ATM and debit card transaction authorization and processing, credit issuing and processing services, national and regional gateway services, comprehensive ancillary services including fraud detection, card production, Rewards! product, and other consultative services.
eMerchantPay online payment processing solutions to merchants worldwide implemented Salesforce solutions to provide eMerchantPay with a tailored customer relations management system, enabling eMerchantPay to deliver an enhanced service to its global network of merchants. eMerchantPay will leverage its relationship with Salesforce in order to provide a single customer management database, more effective response to merchant inquiries or support issues, improved tracking of merchant requirements leading to greater product and technology innovation, enhanced marketing and product requirement tracking, as well as unified communication between the global eMerchantPay offices and a single, strategic management.
Cards with ATM function experienced an increase of 3% to reach 33.1 million cards in 2011 while the number of ATMs reached 17,740 units in 2011, from 5% growth compared to 2010. ATM card transactions increased in 2011 by 7% in current value terms to reach PLN284.1 billion and 5% in volume terms to amount to 737 million transactions. Over the forecast period, transaction volume will increase by a CAGR of 3% to reach 838 million in 2016 and in constant value terms transaction will reach PLN332.2 billion with a CAGR of 3%. PKO Bank Polski SA has 7.2 million cards in circulation with ATM function in 2010. The average transaction amount is expected to increase from PLN376 in 2011 up to PLN397 in 2016.
Mint Technology has signed a Payroll Services and BIN Sponsorship Agreement with Ajman Bank. Ajman Bank, one of the upcoming UAE regional banks, will also introduce Mint Global Processing LLC (“MGP”) to the UAE Central Bank as a third party processor (“TPP”). This follows the recent inception of its incorporated company with Mint and Carta Worldwide transaction processing company.
Clear2Pay international technology provider of next generation payment solutions for financial institutions announces benchmarking results for its Open Card System (OCS) application. In a joint programme, undertaken in co-operation with Intel, OCS recorded throughput of 11,109 business transactions per second with an average response time of 63ms. The Open Card System is a latest-generation system for banks and processors, designed to meet the needs of card issuers and acquirers globally and to position financial institutions for the next wave of mobile payment schemes.
The Controller General of Accounts (CGA), Department of Expenditure, Ministry of Finance has developed a fully secured Government e-payment system for direct credit of dues from the Government of India into the account of beneficiaries using digitally signed electronic advice (e-advice) through the ‘Government e-Payment Gateway’ (GePG). The Government e-Payment Gateway (GePG) is a portal which enables the successful delivery of payment services from Pay & Accounts Offices (PAOs) for online payment into beneficiaries’ accounts in a seamless manner under a secured environment.
China’s central bank issued guidelines to regulate the prepaid card market, requiring the face value of prepaid cards bearing the names of their owners must not exceed 5,000 yuan. Moreover, the face value of cards that do not bear the names of their owners must be below 1,000 yuan. Issuers of prepaid cards must register the identities of the cards’ buyers if they purchase more than 10,000 yuan in cards. This is in an effort to boost the “orderly development” of the country’s prepaid card market, protect interests of card holders and prevent payment risks, the central bank said.