Diebold reached an agreement to acquire Cryptera A/S, one of the world’s leading companies in the research and development of secure payment technologies. Cryptera will help expand Diebold’s leadership position in ATM security solutions and drive future innovation and excellence in the EPP space. Cryptera was founded in 1985 and has sold more than one million payment solutions globally. It is the top supplier of PIN pads for some of the world’s top manufacturers of ATMs, petrol pumps, self-service and self-checkout devices. Under the agreement, Cryptera will operate as a separate business with its own business plans and scope, and will continue to be an original equipment manufacturer (OEM) of EPP solutions for Diebold and its other existing customers globally. Diebold will leverage Cryptera’s development and product capabilities to expand its OEM customer base and drive thought leadership in security throughout the self-service industry.
First Data electronic commerce and payment processing partnered with Zoot instant credit decisioning and loan origination solutions, whereby the former will offer account opening and loan origination solutions of the latter to its issuing client base. Namely, First Data will offer Zoot’s “zOriginate” loan origination software (LOS) solution, allowing users to complete the entire end-to-end origination process, from submitting the loan application using multiple channels, to seamlessly booking the new account to First Data in real time or using batch processing. The solution features flexible decisioning with the ability to easily incorporate traditional and nontraditional data sources.
Bob Christiansen has been appointed a C-level executive with Horizon Technology to lead further development of their GSD Database. Specifically, Robert will be responsible for advancing the practice and acceptance of the company’s core values, recruiting & developing IT staff, and creating & implementing strategic IT plans. Mr. Christiansen joins Horizon from ARM iNSIGHT, a loyalty and rewards provider to the prepaid debit card market. Prior to ARM iNSIGHT, Mr. Christiansen was co-founder of Bank Freedom, a VISA and MasterCard prepaid debit card provider. While at Bank Freedom he served as COO and EVP of New Business Development.
Prepaid Card Holdings has filed a lawsuit In California Superior Court against former
COO and director Robert Christiansen for fraud and concealment,
breach of fiduciary duty, and Conversion. Christansen was terminated by the company on August 6th, 2009.
Prepaid Card Holdings’ subsidiary Bank Freedom has gained approval from
its issuing bank MetaBank and Visa to market the “Bank Freedom Prepaid
Visa Card”. Bank Freedom plans to launch the card in 10 days. The
emerging prepaid card solutions offered by Bank Freedom are to be
marketed as a card account and payment solution for the unbanked and
underbanked. Prepaid Card Holdings is a publicly traded holding company
whose current holdings consist of a 100% interest in the Berman
Marketing Group, a multi-channel direct market firm specializing in
direct response marketing through TV, radio, Internet and print media
and Merchant Processing International.
Berman Holding’s Bank Freedom subsidiary has hired Marcius De La Cruz, previously with Washington Mutual, as VP of Compliance for its prepaid MasterCard Card products. At Washington Mutual, De La Cruz held the position of Senior Financial Analyst and was responsible for maintaining up to date knowledge of regulatory issues including: Patriot Act, CIP, ECOA, Anti-Money Laundering, OFAC and FinCen monitoring, HMDA and Truth in Lending. Since 2006 De La Cruz has been consulting with Southern California banks and companies, which included senior AML/BSA positions for Union Bank, First Vietnamese American Bank, and AML Solutions.
CA-based AAmonte Bankcard has landed two payments veterans including Steve Elefant, former co-founder of ICVerify and Michael Levitt, former Discover card executive, for its Board. In 1984 he was tapped by Sears to help start the Discover Card and, as Senior Vice President for Sales, ran the Discover Card sales force from 1984-1994. During that period, Discover Card grew from no merchants at all to over two million locations in the United States alone. Elefant co-founded payments software firm ICVerify, Inc in 1988. He then went on to be a founder at several other successful startups including PriceRadar / IMiner, Yaga, AircraftFuel.com and others. He currently is a Venture Partner at Claremont Creek Ventures. AAmonte provides full service, custom-designed credit card processing systems and electronic payment technology to small, mid-sized and large businesses.
Florida-based Morgan Beaumont reported net revenue for the third calendar quarter of $417,000 and a net loss of $1.9 million as the Company attained 100,000 contracted “SIRE Network” points of presence. Net revenue for fiscal twelve months of 2005 was $1.1 million compared to $60,000 in the same twelve month period in 2004. Net loss for fiscal 2005 was $5.8 million, or $0.12 loss per share, compared to $1.6 million, or $0.10 loss per share in the prior twelve month period. Morgan Beaumont is a provider of stored value and prepaid card solutions.
A Nevada-based firm is planning to launch its 724Pay.com payment
gateway in China to capture gambling volume via debit cards. The Company says the major advantages of fund transfers through debit cards for
Chimera licensees will be the elimination of credit card charge-backs,
thereby further minimizing risks to licensees. Chimera says 80% of the Chinese population possesses some form of debit card issued by local banks and that many Chinese gamble.
FL-based GlobeTel Communications and Australian-based QnQ have teamed to launch a stored value MasterCard in Australia. The new “OnQ Bill Express Magic Money MasterCard” will be distributed through QnQ’s 8,000 points of sale throughout Australia. The new prepaid debit card can be topped up at selected retail outlets and used wherever the MasterCard and Maestro logos are featured. The OnQ Group of Companies specializes in e-Commerce and business solutions through products that provide clients with a “one-stop” shop for multiple solutions, or specific solutions, for specific needs. GlobeTel is in the international carrier termination business and is expanding to provide strategic advantages to commodity telecommunications based products.
OnQ and US-based GlobeTel Communications have teamed to launch
a stored value MasterCard. The new “OnQ Bill Express Magic Money MasterCard” will be distributed through QnQ’s 8,000 points of sale throughout the country. The new prepaid debit card can be topped up at selected retail outlets and used wherever the MasterCard and Maestro logos are featured. The OnQ Group of Companies specializes in e-Commerce and business solutions through products that provide clients with a “one-stop” shop for multiple solutions, or specific solutions, for specific needs. GlobeTel is in the international carrier termination business and is expanding to provide strategic advantages to commodity telecommunications based products.
Melbourne-based On Q Group has inked a deal to distribute GlobeTel Communications’ “Magic Money Stored Value Card.” GlobeTel says the program has been successfully rolled out in the US, South America and Europe. Over 100,000 cards have already been issued to-date. On Q Business Systems provides business software systems, integration, installation and support services to the Australian petroleum industry. The On Q Group of companies specializes in e-Commerce and business solutions through products that provide clients with a “one stop” shop for multiple solutions, or specific solutions, for specific needs. The On Q Group’s overall strategy is to focus on the development of Internet based and electronic commerce solutions for the point of sale interfaces between business and consumers.