VeriFone Posts 2Q/12 Revenue Up 64%

VeriFone Systems posted its revenue for the three months ended April 30, 2012 of $479 million, compared to $425 million in the previous quarter and $293 million for the comparable period of fiscal 2011 for a 64% year-over-year increase. GAAP net revenues were $472 million for the latest quarter, $420 million for the prior quarter, and $292 million for Q2 FY11. Non-GAAP net revenues excluding revenues from businesses acquired in the past 12 months increased 15% from the year-ago quarter. Hypercom-brand non-GAAP net revenues increased $8 million sequentially to $81 million in Q2 FY12. Meanwhile, net income per diluted share for Q2 FY12 was $0.64, compared to $0.58 in the prior quarter and $0.46 for Q2 FY11, a 39% year-over-year increase.

Shareholder Violated Agreements in Proxy against USA Technologies

USA Technologies announced the United States District Court for the Eastern District of Pennsylvania determined that Bradley Tirpak, a dissident shareholder and former board member, whose proxy contest organization operates under the self-laudatory moniker of S.A.V.E., has violated a contractual agreement in an attempted proxy battle against USA Technologies. The Court found that various statements made by S.A.V.E. in the last month violated a non-disparagement provision of an agreement entered into by Tirpak and his affiliates with the Company in May 2011. This enjoins Tirpak from engaging in future violations of the May 2011 Settlement Agreement.

PayPal Partners ShopKeep POS

Allowing customers to check-in with PayPal and check out at the register at nearly 2,000 merchants with the iPad POS solution from ShopKeep POS, the companies partnered for PayPal cardless payment acceptance at the flat rate of 2.7%. PayPal customers check-in at participating merchants with their PayPal iPhone app. At checkout, the customer’s name and photo will appear on the ShopKeep POS iPad register. The cashier identifies the customer and finalizes the transaction. Once the transaction is complete, the customer is automatically checked out of the store and receives an email receipt of the transaction

Erply integrates PayPal mPayments

Erply cloud-based POS software forged its strategic integration with PayPal to provide businesses a new way to accept mobile payments and manage business operations. Consumers can simply “check-in” on their smart phone to their favorite stores and pay with PayPal. Retailers can accept payments from a consumer’s mobile device and bridge the gap between the physical and online worlds, by allowing retailers to get more insight into their customers to deliver more personalized shopping experiences to help drive traffic to their stores through PayPal’s popular mobile application. The ERPLY solution is unique in that it deploys a multi-platform from iPad and/or the web to its proclaimed Windows client which allowing retailers to run sales both online and offline while social media services are also integrated.

BluePay Launches Remote Credit Card Processing

BluePay all-in-one credit card processor and online payment gateway provider made available processing for small business solutions with virtual terminals, mobile credit card processing and wireless options. BluePay’s virtual terminal targets merchants working from home, or for those accepting primarily Mail Order Telephone Order (MOTO) payments, because they allow merchants to manually enter credit card sales from any computer with an Internet connection. Mobile and wireless processing options let small business merchants accept credit card payments anywhere; mobile options accept payments from merchants’ cell phones, while wireless terminals are compact and portable.

Mac Platform Available for Wells Fargo RDC Through Panini

Wells Fargo now supports Macs for remote deposit capture through Panini scanners with iMac, MacBook Pro, MacBook Air, Mac mini, and Mac Pro computers. The CEO Desktop Deposit service, a proprietary Web-based remote deposit service which does not require a software download, is ideal for businesses that receive most of their payments by check, because it allows them to make deposits from any business location at any time, whether or not a physical bank location is close by. Enrollment and items deposited have soared by double-digit percentages each year since, and Wells Fargo ranks No. 1 in remote capture volume and locations for 2011.

Bank of America to Sell Remaining Interest in Archstone

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Bank of America announced that it and Barclays Bank PLC have entered into an agreement with Equity Residential and Lehman Brothers Holdings Inc. pursuant to which Bank of America and Barclays will sell their remaining 26.5 percent interest in Archstone, a privately-held owner, operator and developer of multifamily apartment properties, for…

Lehman Brothers to Acquire Remaining Stake in Archstone

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Lehman Brothers Holdings Inc. announced today that it has exercised its right of first offer to purchase the remaining stake in Archstone held by affiliates of Bank of America and Barclays Capital (“the Banks”), which will give Lehman full ownership of Archstone. This transaction follows Lehman’s purchase in January 2012 of…

Protegrity Deploys Vaultless Tokenization for Payments Industry

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Protegrity, a leading provider of end-to-end data security solutions, announced Protegrity Vaultless Tokenization for the Payments Industry, the first and only offering that enables processors and gateways to cost-effectively provide tokenization services across their entire client base. Protegrity now supports the largest companies in the payments industry with a lightweight tokenization…

Alibaba.com Shareholders Approve Privatization

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Alibaba Group Holding Limited (“Alibaba Group”) and Alibaba.com Limited (HKSE: 1688; 1688.HK “Alibaba.com”) jointly announced that the proposal for the privatization of Alibaba.com by way of a scheme of arrangement (“Scheme”) has been approved by a sufficient majority of the independent shareholders of Alibaba.com at the Court Meeting today. Approximately 95…

Version One Now Sapphire Systems Document Manager

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Document management software author, Version One, announces a partnership agreement with Sapphire Systems (Sapphire), a global provider of financial accounting, ERP and business management systems. Under the terms of this global agreement, Sapphire is re-selling Version One’s document management and imaging solutions, tightly integrated into Infor10 Financials Business (SunSystems) and SAP…

Card Chargeoffs & Delinquencies Drop like a Rock

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Despite all the dismal data on consumer behavior lately, U.S. credit card ABS performance saw positive gains in May as late stage delinquencies reached six-year lows to only 2.14%, a nine basis point (bp) improvement for a 27% improvement from the year ago period. Delinquencies more than 30 days past due…