EVO Payments International has done a successful completion of the purchase of Citigroup’s merchant acquiring business in Mexico, conducted through Banco Nacional de Mexico S.A. (Banamex), a wholly-owned subsidiary of Citigroup.
Rêv Worldwide, a payments processing and product innovations company announced that Yobie Benjamin has been appointed and elected Chairman of the Company’s Board of Directors.
CardWeb.com’s CardExecs database of card industy movers and shakers today features Paul Galant, Chief Executive Officer of VeriFone. The company has 5,600 employees worldwide and delivers payment solutions in 150 countries and across vertical markets.
CardWeb.com’s CardPixes database of more than 7,000 card images today features Suncorp Clear Options Visa issued Citigroup Australia. The card is both Chip & PIN as well as offering the Visa payWave feature.
Citigroup reported today a 4Q profit for 2013 at double that of its 4Q profit of 2012. Net Income was at $2.7 billion on revenues of $17.8 billion for 4Q/2013 compared to net income of $1.2 billion on revenues of $17.9 billion for 4Q/2012. CVA/DVA was a negative $164 million ($100 million after-tax) in the fourth quarter, mainly resulting from the improvement in Citigroup’s credit spreads, compared to negative $485 million ($301 million after-tax) in the prior year period. Excluding CVA/DVA, fourth quarter revenues were $17.9 billion, down 2% from the prior year period. Fourth quarter 2013 results also included a $189 million after-tax benefit related to the divestiture of Citi’s Credicard business in Brazil, while results in the prior year period included a $1.0 billion repositioning charge ($653 million after-tax). Excluding CVA/DVA, the impact of the Credicard divestiture in the fourth quarter 2013 and the fourth quarter 2012 repositioning charge,6 earnings were $0.82 per diluted share, up 19% from the prior year period.
The Board of Directors of VeriFone Systems announced that it has appointed Paul Galant Chief Executive Officer and Member of the Board of Directors. Galant served as the CEO of Citigroup Inc.’s Enterprise Payments business since 2010. Galant developed innovative digital payments services for Citi’s institutional and government clients, enabling them to expand into growth markets and helping them to meet their consumers’ current and future needs for secure mobile payments and commerce. Before that, from 2009, Galant served as CEO of Citi Cards, heading Citigroup’s North American and International Consumer Credit Cards business during a period of dramatic change in the industry and positioned it for growth. From 2007, he was CEO of Citi Transaction Services, establishing the business as a core growth engine for Citi and expanding it into new product lines and markets serving Citi’s largest institutional and government clients.
C-SAM secure mobile transactions technology offering a range of mobile-based applications for financial as well as non-financial services announced Kurt Weiss and Conrad Sheehan have joined the company as managing director of global financial institutions and vice president and general manager of strategic initiatives, respectively. Weiss will work closely with financial institutions and networks deploying C-SAM’s mobile transaction platform that enables NFC, QR, cloud and remote payments, as well as location-based services. Sheehan will be responsible for global strategy and the implementation of key international projects for C-SAM. Weiss previously worked at Citigroup as the Director of Digital Networks & Mobile for the Fortune 20 Bank’s Citi Enterprise Payments group where he was responsible for the commercialization of digital network payment ecosystems leveraging Citigroup’s core payments infrastructure on a global basis. Sheehan founded mPayy Inc., an electronic payment company focused on NFC-stored value payments for transit authorities and private sector companies (the company was later licensed to NTT DATA where he then led North America payments solutions).
The Board of Directors of First Data Corporation announced that Frank Bisignano has been named chief executive officer (CEO) and the board of directors. Previously, Bisignano most recently served as Co-Chief Operating Officer of JP Morgan Chase &Co. (“JPMorgan Chase”), one of the largest providers of banking, lending, treasury, wealth management and investment services that serves 50 million customers, including consumers, small businesses, mid-size companies, corporations, financial institutions, nonprofits and governments. Bisignano also was the chief executive officer for Citigroup’s Global Transactions Services business and a member of Citigroup’s Management Committee and was the Chief Administrative Officer for Citigroup’s Corporate and Investment Bank, a senior executive vice president and Citigroup’s firm-wide deputy head of technology and operations.
The Visa Board of Directors has elected Charles W. Scharf, formerly CEO, Retail Financial Services with JPMorgan Chase, to succeed Joseph W. Saunders as CEO. He also is a former director of Visa. The Board also intends to appoint a new non-executive independent chairperson with the retirement of the current chair imminent, which had expanded…
Amway Corp direct selling implemented Citi Prepaid Services for its epayment process. Furnishing an efficient, branded electronic payment solution, which includes an AMWAY™ Prepaid Visa Card and an AMWAY Prepaid MasterCard Card, this offers an alternative to paper checks for bonus payments to Amway Independent Business Owners (IBOs). Citi Prepaid Services delivers custom electronic payment programs that help organizations reduce costs, drive optimization and increase program effectiveness. With this new electronic payment solution, IBOs will have access to a personalized AMWAY Visa card and an AMWAY MasterCard card and online account management resources.
Citi Global Transaction Services business has been appointed by ISAGEN public utility corporation, as depositary for its Level 1 American Depositary Receipt program. ISAGEN’s shares will trade on the OTC market under the symbol ISAGY. Each ISAGEN American depositary share represents 10 ordinary shares. Global Transaction Services offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world.
Citi launched its Citi Straight-Through Reconciliation (STR) product which simplifies and automates the way payments transactions are reconciled and exceptions are managed. This service was developed in partnership with clients that leverage CitiConnect to access Global Transaction Service’s payments across 96 countries. Combining a range of channels and instruments with enriched transaction data, “Citi STR” delivers standardized statement reporting which can significantly improve automated reconciliation, and speed up cash applications, allowing customers to receive globally consistent itemized and enhanced statements to support their straight-through reconciliation needs, as well as exception reporting to aid in investigations.