Network Products Guide information technology research and advisory guide has named VeriSign “Identity Protection” (VIP) Authentication Service and VeriSign “Managed PKI Service” winners of the 2010 Best Products and Services Award. This respected annual award honors products and services that represent the rapidly changing needs and interests of the end-users of technology worldwide. As part of the tech-industry’s leading global awards program, this year’s Best Products and Services were nominated from all over the world. Following its win in 2008, VeriSign Identity Protection has been again selected the winner of Network Products Guide Reader Trust Award for best in multi and second factor security. The VIP Access for Mobile application was also the winner in the same category in 2009. This repeated accolade is a tribute to VeriSign’s commitment to provide best in class security solutions that exceed customer expectations.
DirectCash Income Fund released its financial results for the three and
six months ended June 30th. The results show, compared with 2Q/07,
DirectCash 2Q/08 saw an 8.8% increase in revenue, a 4.8% increase in
gross profits, an 8.9% increase in EBITDA, a 5.8% increase in
distributable cash flow, a 27 % increase is Debit transactions
processed, a 22% increase in Prepaid Cash Card activations and a 29%
increase in Prepaid Cash Card transactions (35% increase for 1H/08).
Overall, DirectCash generated transaction growth of 27% and 39% and
generated growth in cash card activation of 22% and 20% for the three
and six months, respectively. For complete details on DirectCash’s latest results visit CardData (www.carddata.com).
DirectCash ATM Processing Partnership has signed agreements to acquire
the ATM business of Inkas Financial Corp for $5,250,000, funded from
DirectCash’s acquisition credit facility. Effective June 24, 2008, the
acquisition concerns Inkas fleet total of 711 ATM sites and related
contracts, the majority of which are located in Ontario-Quebec, and is
subject to customary purchase adjustments. Transitioning these acquired
ATM contracts into its management system, DirectCash will bring the
total number of DirectCash ATM active sites/contracts to over 6000.
DirectCash ATM operating subsidiaries are among the largest in Canada.
Canada’s top loyalty marketing company has signed a deal to acquire the U.K.’s largest customer rewards program. According to this week’s CardFlash International, Montreal-based Aeroplan has agreed to acquire London-based LMG, the owner of the “Nectar” loyalty card program, for about US$745 million. Besides the “Nectar” program, LMG operates Insight & Communications and Loyalty International. About half of U.K. households participate in the “Nectar” loyalty program along with 15 national retail brands. Aeroplan says the two loyalty programs, “Nectar” and “Aeroplan,” will continue to be operated separately. Members’ participation in their respective program is unaffected. Rupert Duchesne will remain President and CEO of Aeroplan. Alex Moorhead and his executive team will continue the management of LMG. LMG is being acquired from Sir Keith Mills (Chairman of LMG), global private equity investor Warburg Pincus and the management team. The transaction is expected to close by the end of the year.
The country’s top loyalty marketing company has signed a deal to acquire the U.K.’s largest customer rewards program. Montreal-based Aeroplan has agreed to acquire London-based LMG, the owner of the “Nectar” loyalty card program, for about US$745 million. Besides the “Nectar” program, LMG operates Insight & Communications and Loyalty International. About half of U.K. households participate in the “Nectar” loyalty program along with 15 national retail brands. Aeroplan says the two loyalty programs, “Nectar” and “Aeroplan,” will continue to be
operated separately. Members’ participation in their respective program
is unaffected. Rupert Duchesne will remain President and CEO of Aeroplan. Alex Moorhead and his executive team will continue the management of LMG. LMG is being acquired from Sir Keith Mills (Chairman of LMG), global private equity investor Warburg Pincus and the management team. The transaction is expected to close by the end of the
Aeroplan has reported an increase since last year reflecting growth
in consumer spending and credit and charge card usage translating
into increased volume from the credit and charge card accumulation
partners. Gross billing for 1Q07 was reported at $228.0 million, an
increase of $26.5 million since 1Q06. This increase is primarily
attributable to an increase of 1.9 billion, or 11.5%, Aeroplan Miles
sold as a result of higher sales to accumulation partners. Cost of
rewards amounted to $155.1 million for 1Q07, compared to $124.9
million in 1Q06, an increase of 24.2%. Aeroplan’s members
earn Aeroplan Miles with its network of more than 60 partners and
representing more than 100 brands in the financial, retail and travel
sectors. Miles earned may be redeemed for Aeroplan’s industry-leading
ClassicFlight Rewards, innovative ClassicPlus Flight Rewards and global
Star Alliance Flight Rewards, offering travel to more than 850 destinations
worldwide. In 2006 more than 1.4 million round-trip flight rewards were
issued. Aeroplan’s rewards include more than 400 specialty, merchandise
and experiential rewards, as well as hotel and car rental rewards.
Aeroplan has announced increases in gross billing of $226.7 million,
operating income of $37.3 million, adjusted EBITDA of $57 million, and
distributable cash by $53 million for the fourth quarter of 2006. Also
achieved in the final quarter of ’06 was the introduction of operational
achievements such as “ClassicPlus” Flight Rewards offered in October,
along side Aeroplan’s existing “ClassicFlight” Rewards. This program
offers members unrestricted access to available seat inventory across
the Air Canada networks for both economy and executive classes. Aeroplan
has a network of more than 60 world-class partners, representing more
than 100 brands in the financial, retail and travel sectors. Throughout
the year of 2006, more than 1.4 million round-trip flight rewards were
DirectCash Income Fund has purchased the ATM assets from Edmonton, Alberta-based Moneta Systems, Moneta Management, and Moneta Financial
Services through its DirectCash ATM Processing Partnership for $4.8 million. Acquired assets include 260 ATMs and long-term ATM processing and service contracts, inventory, and vault cash. DirectCash is the largest branded ATM provider in Canada, operating under the trade name DirectCash ATM, and is one of the providers of branded non-financial institution debit terminals and prepaid products.
Metris reported that it filed a response to the recent SEC “Wells Notices” on August 2nd with the Midwest Regional Office of the SEC. Metris Companies Inc. offers credit cards, credit protection and insurance products to consumers nationwide. Metris issues credit cards through Direct Merchants Credit Card Bank, N.A., a wholly owned subsidiary in Phoenix, AZ.
Calgary-based DirectCash reported that revenues and gross profits increased 28% and 27%, respectively, over the comparative period in 2004. Period over period growth is primarily organic in nature with only 94 of the total increase of 569 ATMs attributable to acquisitions.
Growth in non-ATM businesses was particularly strong, with increases in prepaid cash card loads increasing by 246%. During the first quarter, the number of ATM transactions were 5,575,688. Debit terminal transactions were 629,767 and prepaid cash card loads were 333,434. For complete details on DirectCash’s latest performance, visit CardData (www.carddata.com).
Calgary-based DirectCash Income Fund reports that annual revenues and gross profits increased 46% and 40%, respectively, compared to 2003. The growth is attributable to organic growth in the ATM, debit terminal and prepaid cash card businesses, as well as acquisitions, particularly the addition of 447 ATM’s and 127 debit terminals in June 2003. Growth in 2004 was primarily organic in nature, with organic growth being responsible for 552 new ATM contracts and acquisitions accounting for an additional 30 contracts. The prepaid cash card business grew rapidly in 2004, with a 312% increase in the number of prepaid cash cards loaded. DirectCash raised $56 million in a December IPO. For complete detail on DirectCash’s latest results, visit CardData (www.carddata.com).
nCipher plc reported that revenues were flat at Â£2.8m compared to Q2/02.
However, the operating loss was reduced from Â£2.4m to Â£1.7m because the
company maintained strong gross margins (79%) and reduced our operating
overheads. After interest the company reported a net loss of Â£0.7m and
consumed less than Â£0.1m of cash. nCipher provides hardware and software
solutions that enable organizations to implement best practice security by
addressing the challenges of cryptographic key management and performance.