NYSE Euronext announced that NYSE Amex LLC, the self regulatory organization, will be renamed NYSE MKT LLC effective May 14, 2012, subject to SEC filing. NYSE MKT is the premier U.S. equities market for listing and trading of small growth companies. NYSE MKT’s associated options market will continue to do business under the name NYSE…
Ingenico payment solutions is launching a friendly contractual voluntary tender offer for all the shares of the company Xiring not currently held by Ingenico. A cash offer of EUR17 per share, this offer is in line with Ingenico’s strategy of expanding into services and increasing the contribution of recurring transaction-based revenue. In 2010, XIRING reported revenue of €20.6 million, roughly half of it recurring, and a restated3 EBITDA margin of 23.6%. The offer is for all XIRING shares not currently held by Ingenico and will be open from November 16 to 29, 2011.
smartFOCUS multi-channel marketing software has signed a partner
agreement with Paris-based Initiatives & Developpements (Group ID)
global loyalty marketing specialist. With these agreements, Group ID
will integrate, operate and resell the full smartFOCUS Intelligent
Marketing software suite as part of its loyalty management solution to
its European customers and prospects. Group ID is an expert in the
development of consumer loyalty management solutions and customer
relationship management (CRM) programs. The company designs, creates and
executes loyalty and CRM initiatives for some of the leading companies
across Europe, including Carte Bleue VISA, l’Oreal, Microsoft, British
Telecom and Havas Voyages, bringing together purchasers, communities and
partners through its technology, consultancy and processes.
Digital security provider Gemalto and XIRING have completed acquisition agreements and signed a banking contract for EUR20MM. XIRING EMV based strong authentication solutions
for e-banking and e-commerce has developed efficient technology and a
competitive range of solutions. With more than 12 millions solutions
already deployed in Europe, XIRING EMV based strong authentication
solutions for e-banking, e-commerce and all
activities of the banking business will be entirely acquired. The
contract includes the transfer of the technical and commercial team and
all the associated products, IP and technologies, on December 31 and has
no impact on XIRING non-banking activities or on other activities of
Gemalto.
Gemalto digital security has begun negotiations to acquire banking
activity from XIRING smart card based authentication solutions for
e-banking and e-commerce. For currently undisclosed terms, the proposed
transaction concerns all of the XIRING banking business activities and
associated products, IP and technologies, as dedicated to EMV based
strong authentication solutions for e-banking and e-commerce. This
acquisition, expected for completion next month, would position Gemalto
as a leader in EMV based strong authentication solutions for e-banking
and e-commerce. However, XIRING would continue to operate in its
non-banking activities independently from Gemalto.
Gemalto digital security has begun negotiations to acquire banking activity from XIRING smart card based authentication solutions for e-banking and e-commerce. For currently undisclosed terms, the proposed transaction concerns all of the XIRING banking business activities and associated products, IP and technologies, as dedicated to EMV based strong authentication solutions for e-banking and e-commerce. This acquisition, expected for completion next month, would position Gemalto as a leader in EMV based strong authentication solutions for e-banking and e-commerce. However, XIRING would continue to operate in its non-banking activities independently from Gemalto.
A new white paper says it is a mistaken belief that prepaid cards carry
less risk than credit cards because the card requires a deposit before
funds can be withdrawn. Many transactions are not authorized by the
merchant or authorized for an amount less than the actual transaction
amount (gasoline stations and restaurants are good examples). CoreCard
Software says even though the card issuer does have the right to charge
back the transaction for insufficient funds in such cases, the cost of
handling a charge back is not trivial. Merchant fraud may also increase
the risk of loss to the card issuer. However, velocity limits are
available and used to reduce the likelihood of fraudulent transactions.
Single,daily and monthly (count and amount) purchase and cash advance
limits are also available at the product level. CoreCard also notes that
it is also possible to assign an account a “shadow credit limit”, which
can be used to determine the amount of overdraft available to an
individual customer. The customer does not know the
amount of the shadow credit limit and may be charged an overdraft fee if
the transactions posted exceeds the account available balance.
Security solution provider XIRING experienced an increase of 35%
compared to Q$ 2007 and reached its annual turnover objective of 28.5
million euros an increase of 20% compared to 2007 and more than doubled
since 2006. This turnover was mainly generated abroad, with the
continued deployment programs of Xi-Sign solutions with 12 client banks
in the United Kingdom and the
start of the Italian Post program. The 4th quarter amounted to 5.9M
euros, with a significant contribution
from France. XIRING completed the delivery of 400,000 Xi-Sign solutions
to Group Banque
Populaire, the first French banking group to adopt a strong
authentication solution to reinforce the
security of its online banking service.
Remote transaction platform provider XIRING was awarded a contract by ZZZS, the Health Insurance
Institute of Slovenia, to upgrade the professional
health card readers within the framework of the next generation of the
Slovenian health card scheme.Slovenia was one of the first European countries to introduce a national
health insurance card system. The consortium of XIRING and LOGINA, a Slovenian specialist for
e-health card applications, have signed a contract with ZZZS, the Health
Insurance Institute of Slovenia. The 4-year contract will see XIRING and
LOGINA replace, install and maintain 2,800 desktop card readers for the
Slovenian e-health program (in total 12,000 healthcare professionals are
equipped with desktop card readers). XIRING’s highly regarded Prium-3S
solution will be adapted to meet the Slovenian requirements, notably at
the on-board application level.
Remote transaction provider XIRING and SCM Microsystems have partnered to develop mobile eHealth smart card
terminals for the German healthcare system. With this agreement, SCM will sell the mobile terminals
in Germany through its existing distribution channels and Value Added
Partners. XIRING brings strong technical and field experience to
the collaboration, highlighted by its robust mobile platform for
healthcare professionals that is already deployed in France. SCM
Microsystems has developed several generations of proto-type and
market-ready desktop eHealth terminals based on its close, multi-year
collaboration with gematik, the German healthcare organization
overseeing the country’s eHealth scheme, and the German Federal Office
of Information Technology, BSI (/Bundesamt für Sicherheit in der
Informationstechnologie/), in charge of defining security requirements
for the program. XIRING and SCM are uniquely qualified to address the
demanding technical specifications and strict security targets for
mobile terminals in the German program. Beginning in
late 2008, new electronic health insurance cards will be distributed to
82 million German citizens, creating a market for compatible mobile
eHealth terminals that facilitate at-home patient consultation and
treatment by Germany’s 310,000 healthcare professionals and 130,000
physiotherapists.
Security solution provider XIRING has announced a turnover for the 3rd
quarter of 2008 of 6.2
million euros in line with the company’s forecasts (XIRING had announced
an “exceptionally high” turnover of 8.7 million euros for Q3-2007). The
consolidated turnover for the first nine months of 2008 of 19.1 million
euros is up 13.5% compared with the same period in 2007 (16.8 million
euros). For the first nine months of the year, the Banking activity
posted a turnover of 9.7 million euros, in line with the company’s
forecasts (+5.7% compared with 2007), with a 3rd quarter’s contribution
of 3.7 million euros. The majority of this turnover was generated
abroad, with the continued deployment of the Xi-Sign solutions started
in 2007 in the United Kingdom. The development of the market for
securing online banking transactions continues and the “liability shift”
with respect to e-commerce payments made by credit/debit cards is being
established progressively throughout
the world, based on national schedules that should be finalized in 2010.
This went into effect in France on October 1, 2008 where liability for
fraud has been transferred to the bank that issued the card, and the
retailer is now guaranteed payment, as with face to face payments.
Aix-en-Provence-based
INSIDE Contactless has appointed Richard Vacher Detournière as CFO.
Vacher Detournière joins INSIDE from Siparex, a leading independent
French private equity and venture capital firm. Since joining Siparex in
1994, he has played a key role in more than 25 financing deals,
including leveraged buy-outs, growth capital investments, and
investments in early-stage technology companies. Most recently, he
served as a partner in the area of information and communication
technologies. From 2003 to 2005, based in California’s Silicon Valley,
he helped manage SBV Venture Partners, an early-stage fund co-managed by
Siparex. Before joining Siparex, he served as a consultant with Price
Waterhouse in audit and corporate finance capacities, both in France and
in Central Europe. Vacher Detournière graduated from the Amiens School of Management
and holds a master’s degree in management control, accounting and
financial management (DESCF).