TerraPay Closes UK-Based Pay2Global Acquisition Credit Card Spending

TerraPay Closes UK-Based Pay2Global Acquisition Credit Card Spending

TerraPay, a mobile-first international network, a company incubated by Mahindra Comviva, has completed the acquisition of UK-based Pay2Global Limited, following regulatory approvals. In an outright purchase, TerraPay has acquired 100% of Pay2Global for an undisclosed amount. Pay2Global is a regulated digital international money transfer company with passporting rights into the European Economic Area (EEA). One…

WISeKey Acquires INSIDE Secure

WISeKey Acquires INSIDE Secure

WISeKey International has entered into a binding agreement to acquire the semiconductor technology and business of INSIDE Secure, a leader in embedded security solutions for mobile and connected devices. The acquisition and technology integration will create the first ever comprehensive trusted end-to-end cybersecurity platform for people and objects (IoT). Following this acquisition, WISeKey’s cybersecurity offerings…

BAMS; WU; EVERCOMPLIANT; and BLACKHAWK

In Other News: BAMS (Europe); WU (EDGE); EVERCOMPLIANT (MerchantView); and BLACKHAWK (acquisition). BAMS – Banc of America Merchant Services is expanding to Europe and create a new London-headquartered unit, BofA Merrill Lynch Merchant Services (Europe) Limited (BofAML Merchant Services). WU – Western Union Business Solutions is launching WU EDGE, its ground-breaking digital platform which will…

Payoneer Completes Armor Payments EaaS Acquisition

Payoneer Completes Armor Payments EaaS Acquisition

Payoneer has completed its acquisition of Silicon Valley-based Armor Payments, the only licensed business-to-business payments provider offering Escrow-as-a-Service (EaaS).   The acquisition will enable buyers and sellers, whether transacting directly or through B2B marketplaces, to reduce the uncertainty and risk associated with high-value B2B purchases by making secure, online escrow payments anywhere in the world.…

Blackhawk Acquisitions

Blackhawk Acquisitions

Blackhawk Network has acquired GiftCards.com, which sells digital and physical prepaid gift card solutions to consumers through a high-trafficked gift card U.S. website, and OmniCard, which sells customized prepaid incentive and reward solutions for business clients. The deal is valued at $120 million. GiftCards.com offers differentiating features, including its GiftLocal product which uses the open…

NEOVIA & IDT

NEOVIA Financial Plc will acquire IDT Corporation’s European
Prepaid Payment Services Division for total cash consideration of US$ 15.05 million to be paid to IDT
Corporation on completion – this includes US$ 10 million of banking regulatory capital.
The agreement includes the purchase the entire issued share capital of IDT
Financial Services Holdings Limited and certain other assets which together provide prepaid MasterCard® products
in the UK market under the IDT “Prime Card” brand. Also included is the key strategic acquisition for
NEOVIA, adding new product lines and distribution based on the IDT Prime Card, accelerating the development
of NEOVIA’s prepaid Net+ card business and rapidly increasing the Company’s active
NETELLER e-wallet customer base. In combination with NEOVIA’s Net+ card services, the acquisition creates one of
Europe’s largest independent prepaid debit card businesses.

CONTACTLESS RECEPTION

Despite having cost millions in development and marketing, contactless
payment solutions are not being met with warm reception by the majority
of consumers. According to the latest market research report
conducted by Auriemma Consulting Group, consumers need
additional encouragement to acquire a new card with only 3% of the
population being familiar with contactless technology and 23% of
consumers not showing comfort with contactless cards due to the risk of
identity theft. Additional findings show consumers were 7 times more
likely to want a contactless card after having read the product
description while 63% of consumers more likely to use it because of its
“cool new technology” and 67% more likely to use it because of its “ease
of use.” These findings were compiled by ACG Research through data
generated from a survey of 508 credit card users in 1Q/08.

CONTACTLESS IGNORANCE

Despite having cost millions in development and marketing, contactless
payment solutions are not being met with warm reception by the majority
of consumers. According to the latest market research report
conducted by Auriemma Consulting Group, consumers need
additional encouragement to acquire a new card with only 3% of the
population being familiar with contactless technology and 23% of
consumers not showing comfort with contactless cards due to the risk of
identity theft. Additional findings show consumers were 7 times more
likely to want a contactless card after having read the product
description while 63% of consumers more likely to use it because of its
“cool new technology” and 67% more likely to use it because of its “ease
of use.” These findings were compiled by ACG Research through data
generated from a survey of 508 credit card users in 1Q/08.

Americans Bewildered by Contactless Tech

A new study has found that the new “wave-and-pay” options at checkout terminals is not yet the smart card killer solution that industry leaders had expected. Consumers are largely in the dark when it comes to understanding and embracing the new contactless technology. Auriemma Consulting Group found that only 3% of the population is familiar with the new technology. However, after reading an explanatory paragraph about contactless payments technology, consumers were 7 times more likely to want a contactless card than before they read the description. Furthermore, after reading the description of the technology, 63% of consumers would use a contactless card more than a standard credit card because of its “cool new technology” and 67% of consumers would use a contactless card more than a standard card due to its “ease of use.” About 23% of consumers would not use contactless cards because of concerns of identity theft; a robust education-focused campaign should address this concern.

CheckFree’s Revenue Climbs 11% in 4Q/06

Atlanta-based CheckFree reported quarterly revenue of $237.2 million, representing 11% growth over the same period last year. Net income for the quarter ending December 31st was $35.3 million, compared to net income of $33.8 million for the same quarter last year. During the quarter, the Company reported that the Electronic Commerce Division processed 322.0 million transactions. Consumer Service Provider transactions at banks, credit unions and other financial institutions increased 7% sequentially and non-CSP transactions declined 7%, reflecting an overall sequential transaction growth rate of 3%. During the quarter, the Company delivered 54.9 million electronic bills, a 6% sequential quarterly increase. For complete details on CheckFree’s latest performance, visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

NCR ATM Revenues Off 2% in Q2 Due to Rising US$

NCR reported that second quarter revenue for its ATM business was $323 million, down 2% from the year-ago period even though the quarter benefited from currency fluctuations. NCR says ATM revenue was also lower than expected due to the adverse timing of transactions in Eastern Europe and China. The Retail Store Automation unit generated $211 million of revenue, about the same as the first quarter of 2004. Overall, NCR reported second quarter net income of $127 million. During the second quarter, Darden Restaurants (Olive Garden, Red Lobster and Smokey Bones) announced it plans to upgrade to NCR’s “RealPOS 70” POS terminals for its 1,300 locations nationwide. For the third quarter, NCR expects total revenue to grow 2% to 3% from the prior-year period. For complete details on NCR’s current and past performance, visit CardData ([www.carddata.com][1]) (CF Library 6/22/05)

[1]: http://www.carddata.com

NCR to Beat the Street in Q2 by 4 Cents

NCR says it anticipates its second-quarter earnings to exceed its prior guidance by $0.04 per share and has raised its earnings expectation for 2005 to be in the $1.68 to $1.73 range. NCR expects to report second-quarter revenue of approximately $1.47 billion, an increase of 1 percent from the second quarter of 2004. Stronger-than-anticipated profitability in the company’s Teradata Data Warehousing and Customer Services businesses more than offset lower-than-expected revenue and profitability in Financial Self Service. NCR Corporation provides ATMs, retail systems, data warehouses and IT services globally.