Cardtronics forged definitive agreements to acquire EDC ATM Subsidiary, LLC and Efmark Deployment I for $145 million, plus or minus an adjustment for working capital as of the closing date. Cardtronics will acquire all ownership interests in EDC’s ATM business, including approximately 3,700 ATMs, as well as numerous ATM placement agreements with high-traffic U.S. retailers and ATM branding contracts with some of America’s largest financial institutions. EDC operates nationwide with an ATM placement portfolio focused on multi-state retail operators and high transacting merchant locations, such as convenience stores. After closing, Cardtronics will own and operate 23,500 US ATMs, 14,700 branded ATMs in the US and own, manage and operate over 41,000 machines worldwide.
Financial services and payment consultants Edgar, Dunn & Company marks 30 years
of serving the payments, banking and financial services
industries. EDC operates from offices in Atlanta, Frankfurt, London,
San Francisco, and Sydney with a new office opening in Singapore and a
presence in Paris and serves leading banks, payment processors, merchants, card payment
schemes, e-commerce technology vendors and regulatory bodies in the
areas of strategy, marketing, product development, financial analysis and
profitability, operations, and risk management. Over the years, EDC has played a central role in many of the industryâs
leading product development initiatives in prepaid, mobile payments, online
alternative payments, card authentication and e-commerce applications, and
in opening new markets such as the unbanked and underserved in developed
Recently, cross-border and global enterprise clients
have been seeking EDCâs advice on international expansion as well as major
regulatory changes on the horizon. EDCâs deep regulatory expertise helps
clients realize strategic opportunities and minimize risk resulting from
major regulatory initiatives such as the Single European Payments Area
(SEPA) and the Payment Services Directive.
Payment consultants Edgar, Dunn has hired Ryan Yuzon, previously with VISA, as Manager. Yuzon held payments industry and consulting positions at Visa, BearingPoint, Andersen, and Risk Management Solutions. In these positions, he addressed strategic business issues regarding new payment products, business lines, investments and divestitures, worked on developing new payment options such as powered cards and personalized photo cards, and managed the creation of complex financial models for leading financial services clients. He holds a BA in Quantitative Economics from Stanford University, and an MBA from MIT’s Sloan School of Management.
Payments consultant Edgar, Dunn & Company has hired Ann Schmitt as a Director and will focus on the Americas payment marketplace. Schmitt’s 25 years experience in financial services and payments most recently includes roles as President and CEO of two private equity-backed financial services companies where she led turnarounds, including assessing and re-positioning loan portfolios and under-performing units. From 1998-2002, Schmitt was a Director at Dove Consulting where she served as a consultant to leading banks, card associations, investment banks, merchants, and payment processors.
TransUnion and Edgar, Dunn & Company have introduced their second scoring model to identify predictive credit behavior characteristics using survey-based data. The “Revolver Model” is based on data from the “PaymentDynamics 2007 Preferred Payments Study.” The “Revolver Model” joins the “Payment Preference Model” as part of the “PaymentDynamics Suite” which was introduced in July 2007. The suite is designed to allow retail banks, financial services companies, credit card issuers, and card associations to maximize and prioritize direct product offer strategies across the full payment spectrum of cash, check, debit cards and credit cards.
Edgar, Dunn Â® Company(EDC) has appointed Erik van Winkel as a
firm manager at its London office. Van Winkel has served in management
positions at MasterCard Worldwide responsible for the strategic debit
initiatives with customers in Europe, led a payment project in direct
banking, the development of e-commerce, and SEPA projects. As Director
of Profitability Analysis with MasterCard, van Winkel led an initiative on
developing debit solutions with over 40 banks. The new manager’s
education includes a Master of Science in Mechanical Engineering and an
MBA from K.U. Leuven.
TransUnion and Edgar, Dunn & Company have launched their “Payment Preference Model”, a direct marketing solution that combines individual credit behavior with payment preference data from the “PaymentDynamics 2007 Preferred Payment Study”. The model offers financial institutions a predictive marketing tool that has the capability to offer payment products based on a customer’s particular payment preferences. The Payment Preference Model is well suited for retail banks, financial services companies, credit card issuers, and card associations to maximize and prioritize direct product offer strategies across the full payment spectrum of cash, check, debit cards and credit cards. Edgar, Dunn & Company is an independent global financial services and payments consultancy. TransUnion is a global leader in credit and information management.
Edgar, Dunn & Company has hired Mitchell Muroff, e-commerce payment risk management specialist, as Manager in its San Francisco office. Muroff will provide EDC clients with strategic and operational consulting in all aspects of global payment processing with an emphasis on the development of efficient, reliable and scalable approaches to the management of e-commerce payment operations and fraud/abuse risks. Muroff has managed payment operations and fraud risks for transactions conducted by more than 320 million consumers representing $7 billion USD in value across 40 business lines in 14 countries. His accomplishments include leading the worldwide launch of online shopping capabilities for Microsoft Corporation; building a risk management team and system for Ingenio; directing global payment and risk management operations for Yahoo!, Inc.; and leading the global payment and risk management strategy for WebEx Communications. Muroff holds an MBA in General Management and Marketing from The University of Washington and a BA degree in Finance and Economics from The University of Western Ontario. He is affiliated with several industry organizations including Merchant Risk Council, NACHA, and Bay Pay. Edgar, Dunn & Company (EDC) is an independent global financial services and payments consultancy.
A new survey shows that more consumers are shedding payment products compared to two years ago. Nearly half of those trimming their wallets have canceled or reduced their usage of standard credit cards. The “PaymentDynamics 2007 Preferred Payments Study” by TransUnion and Edgar, Dunn & Company reveals that 20% of consumers said they shed payment products in 2006 compared to 16% in 2004. Of those that have canceled or reduced their usage of payment product in the past 12 months, about 14% have done so with either a store credit card, debit card or a rewards credit card. Only 10% have canceled or dropped a co-branded or affinity credit card. In contrast, 31% of respondents added a new payment device to their wallet this past year versus 56% in 2004. The study also revealed that more consumers prefer debit cards than any other type of payment for point-of-sale purchases.
A new study has found that more consumers prefer debit cards than any other type of payment for POS purchases. This is the first time in the study’s history that debit cards exceeded all other payment devices as the overall preferred payment product. The “PaymentDynamics 2007 Preferred Payments Study” from TransUnion and Edgar, Dunn & Company found that 29% of respondents prefer debit cards versus 26% for credit cards. This year’s study shows fewer consumers are adding payment products to their wallets and more consumers are eliminating products from their wallets than in prior years’ studies. Only 31% of respondents added a new payment device to their wallet this past year versus 56% in 2004, while 20% of consumers said they shed payment products compared to 16% in 2004. The study also showed that rewards credit cards represent 50% of all preferred credit cards with 83% of rewards card owners using their reward credit card.
Edgar, Dunn & Company has appointed Hugh Gallagher as Director in its Atlanta office. Prior to joining EDC, Gallagher held senior management positions with eFunds Corporation and First Annapolis Consulting and also worked in the International Division of NBD Bank. He is a frequent author and speaker for various financial services industry publications and forums, including BAI Combating Payments & Check Fraud, ETA Strategic Leadership & Networking Forum and Merchant Risk Council Annual Conference. Gallagher holds an MBA in Finance and Statistics from the University of Chicago Graduate School of Business. Edgar, Dunn & Company is an independent global financial services and payments consultancy.
Edgar, Dunn & Company and TransUion are combining resources and data to develop the “PaymentDynamics 2006 Preferred Payments Study.” The study is the first of its kind to combine consumer payment attitudes, behavior and credit information. The study will not only provide financial institutions with a complex understanding of their customer’s payment needs, but it also will include the predictive and profiling tools necessary to drive profitable growth across their product portfolios. The study’s findings will be available beginning in the fourth quarter 2006. “PaymentDynamics 2006” is a continuation of EDC studies on consumer payment preferences, attitudes and behavior conducted in 2000, 2004 and 2005. This marks the first year EDC will partner with a large credit reporting entity, like TransUnion, to incorporate consumer credit information into the findings and market profilings.