CardWeb.com’s CardData database of Company Profiles today features YapStone.
CardWeb.com’s CardData database of Company Profiles today features CheckAlt.
First Data has received commitments to purchase approximately $3.5 billion of its common equity in a private placement to strengthen the company’s balance sheet through repaying portions of its debt. The $3.5 billion comprising the private placement announced today includes $1.5 billion from existing investors and $2.0 billion from new investors, including a diverse group of pension funds, mutual funds, asset managers and wealthy individuals. KKR provided approximately $1.2 billion, including $500 million from its 2006 Fund and $700 million from its balance sheet. Upon close of the transaction, KKR’s balance sheet will have approximately $1.0 billion invested in First Data’s equity, through general partner and limited partner interests.
CheckAlt today announced that it has acquired the ERAS subsidiary from Diebold, Incorporated (NYSE: DBD). ERAS, based in Miami, delivers item and payment processing solutions for regional banks, community banks and credit unions.
First Data announced its Board of Directors has named Joseph J. Plumeri vice chairman. Plumeri was appointed to the First Data Board of Directors and as a senior advisor to KKR in August 2013. Since then he also has been serving as senior advisor to First Data Chairman and CEO Frank Bisignano, and as the head of First Data’s client delivery, innovation and marketing organization. He will continue in these roles.Since joining First Data, Plumeri has played a pivotal role in the company’s transformation from a transaction processor to a payments technology company and solutions provider to merchants and financial institutions. Plumeri has spearheaded company-wide efforts to become more client-centric, including realigning how the company delivers solutions to and serves its global and strategic accounts, national merchants and enterprise clients, financial institutions, small business clients, bank partners and agents and ISO clients. Plumeri was chairman and chief executive officer of Willis Group Holdings, plc before joining First Data. Appointed in 2000,
Payment Alliance International ATM and electronic payment processing announced global sponsorship of the ATM Industry Association (ATMIA). ATMIA is an independent, non-profit trade association whose mission is to promote ATM convenience, growth and usage worldwide; protect the ATM industry’s assets, interests, good name and public trust; and to provide education, best practices, political voice and networking opportunities for member organizations. PAI is one of the largest ATM deployers in North America with more than 65,000 locations in the PAI Alliance Network. Uniquely positioned in the payments marketplace, PAI offers custom ATM programs and services for retailers and financial institutions including ATM cash management and branding solutions, as well as a variety of electronic payment options.
Prepaid International Forum (PIF) India today announced that it has extended its membership admission policy to include mobile operators. The decision reflects the increasingly important role mobile operators play in the prepaid market in India. A number of analysts have stated that prepaid mobile payments have the potential to unlock the buying power of large…
DR Collect debt collection has completed upgrades to include a fully automated front end for the implementation of the system as well as the automation of the registration process, the payment process for monthly agency fees and the upload process to load accounts into the system. The DR Collect system is now capable of importing placement files in almost any format so that clients will no longer have to follow other data standards. Clients can use file formats they already use for other vendors or a standard export from their operating collection floor system. The frequency of upload is also determined by the client. In order to further promote adoption of the DR Collect platform, the Company has implemented a new pricing schedule for the agency and law firm market that is simple and cost effective.
CheckAlt Payment Solutions Check 21 service patent-issued technology can act as credit unions’ sole Check 21 provider for those looking to stand clear of corporate services. Despite recent changes made to the validation of check images and data by the Federal Reserve, CheckAlt Payment Solutions’ expertly designed software never missed a beat. Serving as a direct line to the Federal Reserve, CheckAlt remains up-to-date so institutions can rest easy knowing they are saving time and money. Funds are posted in as little as 12 hours and offer the lowest processing fees.
Jeffrey Sklar, payment solutions compliance expert, is set to join the Public Savings Bank’s Board of Directors, which specializes in ACH, Wire Transfers, and Remote Deposit Capture payment solutions. Sklar has developed Anti-Money Laundering AML compliance programs and training programs for MSB’s broker/dealers, insurance companies, casinos, and traditional banking institutions. He also serves as the Managing Director of SHC Consulting Group, is a Certified Public Accountant, Certified in Financial Forensics, a Certified Anti-Money Laundering Specialist, a Certified Fraud Specialist and is the Co-Chairman of the Association of Certified Anti-Money Laundering Specialists Annual Conference.
John Dorman has been named interim chief executive officer for Online Resources Corporation online financial services. Currently serving as the co-chairman of the companyâs Board of Directors, Dorman will also continue to lead the Boardâs Governance Committee and the Board’s search for a permanent CEO. With this, the companyâs community bank and credit union division and large bank and partnership bill pay division have been merged into a new Banking Services group consisting of sales, client services, marketing, product and professional services functions.
First Data has hired Kevin Schultz, formerly global head of Visa
Processing Services for Visa, as president of its Financial Services
business segment. Also, John Elkins, formerly a senior advisor to
McKinsey & Company, as chief marketing officer. Schultz responsibilies
include Card Issuing, Debit Services, the STAR Network, Output Services,
Government and Education Markets, and analytic and decision services
products. Elkins will be responsible for global marketing and brand
development. First Data also announced that Henry Kravis and Joe
Forehand were appointed as new members to its board of directors.
Kravis is the co-founder, co-chairman and co-CEO of Kohlberg Kravis
Roberts & Co. Forehand retired as chairman of Accenture in 2006 after
more than 30 years with the firm.