Vantiv, Inc. announced an agreement to acquire Mercury Payment Systems, LLC for an aggregate price of $1.65 billion. Mercury is a payment technology and service leader whose solutions are embedded into point-of-sale software applications and brought to market through their dealer and developer partners. Mercury is currently majority-owned by Silver Lake, a global leader in technology investing.
VeriFone Systems and Lenovo partnered to offer a versatile, enterprise-class, mPOS platform. Powered by Windows 8 Pro, it easily integrates with existing retail store systems. VeriFone and Lenovo introduced a versatile, enterprise-class, mobile point of sale (mPOS) platform to meet retail needs for a Windows-based system compatible with existing retail store systems. The platform integrates a ThinkPad(TM) Tablet 2 based on the Intel(R) Atom(TM) Z2760 processor with VeriFone’s secure PAYware Mobile technology designed exclusively for the Lenovo tablet. The mPOS platform integrates a ThinkPad™ Tablet 2 based on the Intel® Atom™ Z2760 processor with VeriFone’s secure PAYware Mobile technology designed exclusively for the Lenovo tablet. The integrated device is based on the Microsoft Windows 8 Pro operating system and will enable retailers to easily transition to a mPOS platform that works with their existing business infrastructure and operations, including multichannel management, store operations, e-commerce, merchandising, financials, and supply chain management.
The State Bank of India (SBI) has signed an agreement with Diebold for its ATM expansion project for State Bank Group (SBG). With this, Diebold will deploy approximately 1,000 cash dispensers (CDs), more than 600 full-function lobby ATMs and approximately 60 cash recyclers. After this expansion is complete, SBG’s total ATM network will grow to more than 28,000 terminals. This is part of SBG’s plan to support its strategic self-service expansion plan and serve its widespread customer base across India with a significant number of deployments planned in metro, urban, semi-urban, rural and remote areas including Northeast India. The ATMs and CDs are touch screen along with function keys for higher availability of the machines; have voice guidance support and Braille enablement to support the visually challenged; use ard reader with enhanced security features; and an advanced dispenser with a special feature that helps in reducing jams and errors enabling better uptime.
Always a reliable performer, Heartland Payment Systems announced its 4Q/10 net income of $6.6 million and total revenues of $478 million. This was up on total revenue of $420 million in the year ago quarter, but down marginally on $499 million posted in 3Q/10. Performance throughout the quarter was due in great part to Heartland having closed on a new credit facility in November, with a five-year $100 million term loan and a $50 million revolving credit facility with a five-year commitment. While adjusted Net Income was up to $7 million on the $5.9 million posted a year ago, additional 4Q/10 figures show a net revenue of $110.5 million, up 5.1% year-over-year; a 35.7% increase in operating income year-over-year; operating margin on net revenue of 12.9%; and same store sales up 3.8%, up almost 100% since 3Q/09. For all of 2010, GAAP net income was $34.5 million; net revenues for 2010 were $444.9 million, up 6% compared to 2009; adjusted net income and Earnings per Share for fiscal 2010 were $25.8 million, compared to $29.3 million in 2009.
Fabless semiconductor Fresco Logic, developers and marketers of USB 3.0
connectivity solutions, has unveiled its “FL1009” two-port USB 3.0 Host
Controller with PCI Express Gen II interface. The “FL1009” is based on
Fresco Logicâs “GoXtream xHCI Accelerator Engine”, which is capable of
delivering performance and is also optimized for low-power
operation while minimizing total system cost and design cycle time.
Fresco Logicâs “USB-IF SuperSpeed USB Logo Certified GoXtream xHCI Host”
accelerator architecture allows each USB port to sustain full bandwidth
of USB 3.0 throughput and provides headroom to support next-generation
true 1080p high-definition video-streaming applications and UASP-enabled
The FL1009 supports xHCI Rev 1.0 specification, USB 3.0 Rev 1.0
specification and is backward compatible with USB 2.0 and USB 1.1.
Customers can benefit greatly by leveraging design
effort and launching multiple product platforms at the same time.
A new study forecasts that the payments business will be a $703 billion industry by 2013, up from $467 billion in 2003. However, average revenues per transaction will decline to $1.58 for domestic payments and to $7.27 for cross-border payments by 2013, down from $2.08 and $9.33, respectively, in 2003. The report by The Boston Consulting Group says the “Single Euro Payments Area,” the legislation intended to harmonize European payments platforms, will bring measurable benefits to consumers and is worth the investment that European banks must make to meet the requirement of bringing pan-European payments capability alongside domestic programs by 2008. According to the report, banks in the U.S. are battling slowing growth in credit card usage owing to a saturating market, increased use of substitute credit lines (such as those based on home equity) and a shift by consumers toward debit instruments. Interchange revenues, which reached an average of 175 basis points per transaction in 2005, are also under siege because of a series of lawsuits brought by retailers claiming that interchange rates are unfairly high. BCG says that if interchange income which represents about one-third of risk-adjusted revenues for U.S. card issuers were to be slashed, banks would need to review their core business models.
The Bargain! Shop has selected Trintech’s “ReconNET” to automate the
verification and reconciliation of its cash, checks, debit and credit
cards, and disbursements to enable The Bargain! Shop to manage complex
transactions efficiently and reduce opportunities for error. The
Bargain! Shop Holdings operates over 145 general merchandise retail stores across Canada. Trintech Group is a provider of transaction reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally.
Hypercom Corporation today introduced Ascendent SigCap, a high-volume electronic signature and receipt capture, storage and retrieval software solution. Ascendent SigCap allows merchants and banks to electronically capture and store millions of signatures and receipts, and retrieve them for dispute resolution.
Ascendent SigCap operates independent of the transaction processing host. As such it can be added to an existing transaction processing environment, or to a merchant’s system, with minimum delay and integration complexity. Thus Ascendent SigCap allows electronic payment processors to add electronic receipt capture and retrieval quickly and easily without having to change existing legacy systems.
“The days of merchants storing boxes of receipts in the back office or spending hours sorting through them to find the receipt of a disputed transaction can quickly become ancient history,” said Theodore (Ted) F. Cole, Senior Vice President, Ascendent Software Products Group, Hypercom Corporation. “Ascendent SigCap for the first time allows financial institutions to support high-volume electronic receipt capture, reduce dispute resolution costs and speed response time to merchant queries. Most importantly for merchants, the system can drastically cut chargebacks.”
Built on the Ascendent Transaction Environment (ATE), SigCap captures signature and receipt data from the terminal and stores it in a database on the Ascendent SigCap server. If needed at a later date, the data can be accessed to view or retrieve an image of the signed receipt. The retrieved receipt can be printed, e-mailed, faxed or EDI (Electronic Data Interchange) transferred to the requesting institution.
SigCap provides the performance and reliability necessary to meet the stringent requirements inherent in bank and processing center 24-hour per day, seven day a week operations. It incorporates a comprehensive list of features including easy-to-use menus for retrieving, displaying and printing disputed transaction information; scalability ranging from small transaction volumes to millions per month; database independence and fast, fault-tolerant transaction processing with Hypercom’s Ascendent Transaction Environment.
Ascendent SigCap: How It Works
Ascendent SigCap incorporates a transaction processing engine that captures the signature and receipt data from the merchant point-of-sale (POS) terminal. Each receipt/signature is transmitted by the terminal and stored by SigCap as a self-contained record within the SigCap server database. This separation of signature and receipt data from the financial transaction eliminates the need for closely integrating the signature and receipt storage and retrieval system with the financial host, a major obstacle to building simple retrieval systems in the past.
The Ascendent SigCap server can be located either at the host or it can be remote. Signature/receipt data can be received from the terminal either in a batch format, or on a per transaction basis as part of the financial transaction communications. SigCap can be used as a stand-alone product or added as an option to Hypercom’s Ascendent software family of client/server payment processing and data transaction solutions including the Advanced Transaction Processor (ATP), Network Terminal System (NTS), Loyalty Management System (LMS) and RealPay and SET applications for e-commerce.
“Ascendent SigCap is the perfect end-to-end solution when combined with Hypercom’s powerful new T5000 POS terminal or ICE Peripheral,” Mr. Cole said.
Ascendent SigCap is available now through a Hypercom sales representative.
End-To-End Hypercom Solution: SigCap and ICE
When operated in conjunction with Hypercom’s T5000 Interactive Customer Equipment (ICE) POS terminal or ICE Peripheral, SigCap facilitates a complete electronic signature capture, receipt storage and retrieval system that eliminates the need for a paper copy of the receipt, and its related handling and retrieval. This provides a complete and efficient paperless environment that improves merchant efficiency and service, while reducing chargeback.
Hypercom’s ICE is a modular terminal concept that employs an interactive touch-screen to meet the increasing requirement for easy-to-operate customer-activated card acceptance devices.
The ICE represents an entirely new generation of interactive, consumer- operated card acceptance terminals which, when combined with Ascendent SigCap, deliver a highly-efficient and effective end-to-end solution in supporting electronic signature and receipt capture, storage and retrieval.
Ascendent by Hypercom
Ascendent transaction software is a comprehensive family of front-end client/server payment and data transaction processing software solutions and related professional services.
Ascendent software solutions most often serve as an adaptive layer for host legacy systems that allow financial transaction companies to quickly and easily add new functionality, features, programs and performance without disrupting or replacing existing mission-critical legacy systems.
“Ascendent software by Hypercom provides an adaptation layer for host legacy systems that allows financial transaction companies to quickly and easily support new functions and payment modes without replacing their existing transaction infrastructure investments,” Mr. Cole said. “Ascendent software exemplifies Hypercom’s continuing heritage of providing industry leadership with innovative solutions, and we are very pleased to announce this newest addition to Hypercom’s Ascendent family.”
Celebrating its 20th anniversary, Hypercom Corporation is a global provider of electronic payment solutions, including multi-functional point-of-sale terminals, peripherals, network products, transaction software, Internet-based and electronic commerce payment solutions. On a global basis Hypercom delivers the services and technology infrastructure required to quickly integrate and deploy new payment applications for competitive value-add programs, improved business performance and low total cost of ownership.
Headquartered in Phoenix, Arizona, Hypercom markets its products in more than 60 countries through a global network of offices and affiliates in Argentina, Australia, Brazil, Chile, China, Hong Kong, Hungary, Japan, Mexico, Russia, Singapore, the United Kingdom and Venezuela. Hypercom’s Internet address is [www.hypercom.com].