DFC Global services to the unbanked and under-banked consumers announced preliminary 3Q/14 total consolidated revenue expected in the range of $248.0 to $252.0 million. DFC reduced its guidance for fiscal year 2014 to adjusted EBITDA between $151.0 and $156.0 million, as compared to its previous range of between $170.0 million and $200.0 million. The Company…
American Express is now accepting applications for the new Amex EveryDay Credit Card, which was announced at last month’s Oscars. To celebrate, the company is launching a year-long campaign to shine a spotlight on America’s #EveryDayMoments – from quality time with the kids to a night out with friends. The campaign kicks off with a Mother’s Day “selfie & snapshots” photo contest with an epic prize – a getaway to NYC for 50 winners and their guests (100 total). American Express will continue to recognize and reward consumers for sharing their #EveryDayMoments throughout the year with a series of special, themed contests, sweeps and unique experiences, like a live concert with Maroon 5 streamed nationally on June 20, 2014, and a soon-to-be-announced Father’s Day Sweeps. The Amex EveryDay Card is a no-annual-fee Credit Card that puts a twist on the traditional rewards program; it rewards Card Members for how often they shop, and not just how much they spend. Use the Card 20 or more times on purchases in a billing period and earn 20% extra Membership Rewards® points on all those purchases less returns and credits. *Terms and limitations apply
Payments Space Advisors, a joint venture subsidiary of NEACH and EastPay, has announced its inaugural Board of Directors. Payments Space Advisors was recently formed by the two Regional Payments Associations to provide a broad spectrum of payment systems risk management, compliance, and consulting services to financial institutions and businesses. The new Board of Directors includes Chairman: Albert Rietheimer, CPA, SVP, CFO & Treasurer, Steve Madden, Richard Oliver, David Brock, Laurance Selnick, and Pam Rodriguez, AAP, CIA, CISA, Executive Vice President of EastPay.
FirstCapital Bank of Texas now offers live teller service 24 hours a day, five days a week and will soon expand that to 24 x 7 service through interactive video software from NCR. With NCR APTRA™ Interactive Teller, a live teller takes remote control of the device while on video chat over its screen. FirstCapital’s interactive tellers work out of the Lubbock, Texas branch and can support customers at any of the bank’s 10 Interactive Teller kiosks. The latest Interactive Teller unit went live March 19, as part of the bank’s new branch opening in Amarillo. FirstCapital worked hand-in-hand with NCR and FTSI. FTSI is one of NCR’s largest financial services solutions partners, serving Texas, California and the Pacific Northwest since 1998. FirstCapital’s Interactive Teller units are available both in lobbies and drive-thru banking.
Ameranth, Inc. announced that it has entered into a new patent license agreement for mobile ordering and mobile payment processing with Taco Bell Corp. – www.tacobell.com – the largest Mexican QSR restaurant company in the world – with nearly 6,000 locations. Taco Bell is headquartered in Irvine, California. The Ameranth-Taco Bell patent license includes mobile ordering, mobile payments and other elements critical to mobile deployments in the hospitality space.
Now through June 30, 2014, cardmembers can sign up to earn 5% Cashback Bonus on up to $1,500 in purchases made at home improvement stores, furniture stores and Bed Bath & Beyond®. Cardmembers can sign up simply by logging into their online Account Center or calling 1-800-DISCOVER (347-2683). After making $1,500 in purchases, Discover cardmembers continue to automatically earn their standard Cashback Bonus on all other purchases. Cardmembers can shop online year-round with their Discover card at ShopDiscover.com, Discover’s exclusive online shopping portal featuring more than 200 popular online retailers offering between 5% and 20% Cashback Bonus on purchases.
JetPay® Corporation is pleased to announce the appointment of Diane (Vogt) Faro to its Board of Directors. Ms. Faro was nominated to the board to replace an open board seat created by the departure of Arthur Ryan, who resigned in October 2013. With a career of over 30 years in the payments industry, Ms. Faro brings executive expertise in management, sales, and the merchant acquiring and Independent Sales Organization sides of the payment business.
BPC Banking Technologies, Multiservice Payment System (payment service brand “PayHD”) and Visa are delighted to announce the launch of an innovative service which enables customers to make customs payments with Visa cards. The service is already in operation at all the customs points in Moscow’s airports and will be rolled out to cover the entire customs network of Russian Federation.
CurvePay announced the completion of its acquisition of Transaction Labs (T-Labs), the world’s only direct payment processor to combine front and back end processing with Big Data analytics capable of delivering real time, targeted 1-to-1 marketing for brick-and mortar merchants. The T-Labs platform processes a billion transactions annually with direct connections to the associations (Visa, MC, AMEX, etc.) and transaction speeds up to 10x faster than traditional processors.
Spire Payments announced today the acquisition of Altius Plus. With a client list including top Romanian Banks such BRD (Group Societe Generale) and BCR (Erste Bank Group) together with Raiffeisen Bank (Romania, Croatia, Albania, Kosovo) and Payzone (Greece, Cyprus, Romania, Poland) as well as having developed EFT and certified HOST solutions for more than 20 international banks and financial organisations worldwide, Altius Plus have significant, proven technical capabilities and an extremely high level of credibility in the sector. Apart from the significant increase in R&D capability to complement Spire’s centres of excellence in Spain, England, Scotland and China, this move will provide a springboard to exploit multiple opportunities the business is forging in Central Eastern European markets and is a perfect fit in Spire’s strategic acquisition programme.
Wells Fargo & Company and Dillard’s, Inc. announced that the two companies have entered into an agreement for Wells Fargo to fund, issue and service Dillard’s-branded private label and co-brand credit cards. Wells Fargo will also manage the cardholder loyalty program for Dillard’s. The program agreement has a 10-year term and is anticipated to become operational in the fourth quarter of 2014, following the scheduled expiration of Dillard’s current program agreement. Financial terms of the agreement were not disclosed. Dillard’s management believes its earnings from the new program exclusive of startup costs will be comparable to its historical earnings from the Dillard’s branded credit card products and believes that earnings will increase with future program growth.
DFC Global serving primarily unbanked and under-banked consumers has entered into a definitive agreement to be acquired by an affiliate of Lone Star Funds (“Lone Star”) in a transaction, including the assumption of net debt, valued at approximately $1.3 billion. Upon completion of the transaction, DFC Global will become a privately held company. Under the terms of the agreement, DFC Global stockholders will receive $9.50 in cash for each share of DFC Global’s common stock they own. This represents a premium of approximately 5.8% to DFC Global’s closing stock price on April 1, 2014, and a premium of 12.3% to DFC Global’s 30-day volume weighted average stock price for the period ended April 1, 2014. The agreement was unanimously approved by DFC Global’s Board of Directors. The transaction is subject to customary closing conditions, including receipt of stockholder approval and certain approvals from both U.S. and foreign regulators. Competition-related approval requirements are expected to be limited in number. The acquisition requires the affirmative vote of the holders of a majority of the outstanding shares of the Company’s stock, which will be sought at a special meeting of stockholders. The transaction is expected to close in the third calendar quarter of 2014.