InterCept has received early termination of all waiting periods under the “Hart-Scott-Rodino Antitrust Improvements Act” relating to its acquisition by Fidelity National Financial.
CA-based Global Vision Holdings has created a new gift card marketing and distribution subsidiary, OPT Services, in a joint venture with the AutoPay 21 division of @360, Inc.
VeriFone unveiled a countertop multi-application terminal and a wireless and portable terminal in its new “Vx Solutions” terminal family. The new countertop “Vx 510” and wireless “Vx 610” represent upgrade paths for current users of “Omni” terminals. The “Vx 510” incorporates a built-in thermal printer with drop-in “clam shell” paper loading, a backlit display, ATM-style interface, and on-screen prompts. The advanced processor also provides multi-tasking capabilities suited to value-added applications and EMV smart card transactions. The “Vx 610” features the same compact design of the “Vx 510,” but in a portable, battery-powered form factor that uses Wi-Fi, CDMA and GPRS. To-date VeriFone has shipped more than 50,000 terminals in its “Vx Solutions” line.
Collis and JCB have developed a new EMV PVT tool that covers all tests specified by JCB for cards that are personalized according to “J/Smart 1.2” and “J/Smart 2.0” specifications. “J/Smart” is JCB’s
credit application for smart cards. It is compliant with the EMV standard for smart card credit and debit transactions. Collis’ EMV PVT thoroughly tests payment cards on all the aspects of personalization. Compliance is checked with the strict rules from the EMV specification, as well as with specific requirements of credit card scheme operators. The EMV PVT immediately shows whether a card is personalized correctly or not with a green checkmark or a red cross. It also generates a Word report that pinpoints any magstripe-chip inconsistency, (tag) error
or rule violation in detail. The tool can be used in development of the
personalization and for sampling during production.
FedComp, a provider of core data processing software and systems to more than 1,000 credit unions, is providing an interface to and promoting Genpass EFT processing services and the “MoneyPass” surcharge-free ATM network to its credit union clients.
AL-based AmSouth has signed an agreement to sell its credit card portfolio to MBNA and to enter into an agent bank agreement. The AmSouth portfolio has approximately 390,000 accounts and total receivables of approximately $550 million. AmSouth says its credit card business is non-core, lacks meaningful scale, and is unable to compete in the increasingly competitive credit card environment. AmSouth expects a pre-tax net gain of approximately $170 million from the credit card sale. Goldman, Sachs & Co. served as AmSouth Bancorporation’s adviser on the credit card portfolio transaction. AmSouth has 670 bank locations.
Catuity shareholders approved a reverse stock split in
order to maintain the Company’s Nasdaq listing. Catuity was informed it will receive a letter on November 4th from Nasdaq indicating its intent to de-list Catuity’s shares unless the Company appeals the determination. In the meantime, Catuity’s post-reverse shares will begin trading on November 12th on both Nasdaq and the ASX, and the Company will have traded for 10 consecutive trading days above $1.00 by
the end of November. Catuity is a provider of POS-focused solutions.
Lipman Electronic Engineering posted third quarter revenues of $44.5 million, a 43% increase over the year ago period. Net income for the quarter climbed 40% to $9.6 million compared to 3Q/03. During the quarter, Lipman completed its acquisition of Dione, Plc giving the terminal manufacturer an expanded suite of offerings and entry into South Africa and Finland, as well as a significantly expanded presence in the United Kingdom. Lipman acquired privately-held, London-based Dione for $69 million. In addition, Lipman will pay up to $33.4 million to Dione in earn-outs for 2005 and 2006, according to CardFlash International. Dione is a supplier of smart card-based payment systems with applications and managed services, posting revenues for the first nine months of this year of approximately $46 million. Also during the third quarter, Lipman received “EMV 2000” approval for its “NURIT” terminals. For complete details on Lipman’s 3Q/04 performance, visit CardData ([www.carddata.com]).
CU ink and Genpass have formed an alliance in which CU ink will promote Genpass EFT processing services and the “MoneyPass” surcharge-free ATM Network to CU ink’s Credit Union customers. Genpass’ ATM terminal driving, debit card processing, ATM maintenance, “PayCards,” and participation in “MoneyPass” will be promoted. CU ink is a supplier of computer forms products such as checks, statements, receipts, and notices, along with a line of marketing products and services including newsletters, brochures, direct mail, and posters.
SoundBite Communications has released “SoundBite 5.0 for Financial Services,” a Web-hosted solution built on the Company’s interactive voice messaging technology platform. “OnDemand Blended Suppression,” “OnDemand Enterprise Support,” and “OnDemand Campaign Management” are among the features of the solution. Benefits that companies will experience using the solution include “pay as you go” use, no hardware or software installation, high response rates, and SoundBite’s in-depth industry expertise.
The Board of Directors of the International Card Manufacturers Association has appointed Eric Blank of Arthur Blank & Company and Merrill Martin of VCT/QualTeq Division to serve two years on the Board. Blank and Martin both have extensive experience in the plastic card industry. The ICMA Board of Directors manages the ICMA’s business and affairs. ICMA is a non-profit association of plastic card manufacturers, personalizers, and participants in related industries. It has 200 members, representing over 40 countries.
China’s Blue Bamboo has unveiled its first product, a GlobalPlatform standards-based, wireless terminal. The new “H50” is priced as low as US$199. The “H50” supports the Java-based “Small Terminal Interoperability Platform.” In addition to abiding by GlobalPlatform standards, the “H50” will be an EMV-compliant terminal. Blue Bamboo expects to achieve certification by Q1 2005, according to CardFlash International. It also supports the “Visa Smart POS” application, and can be utilized in a broad range of solutions. Blue Bamboo’s terminal is portable, and powered continuously with two Lithium-ion cell batteries that are both re-chargeable and replaceable. Blue Bamboo is a wholly owned subsidiary of Shera International and affiliated with Shera Technology, an established manufacturer of POS terminals and peripherals.