The patent fight between Fiserv and FIS is over with no money changing hands. This week there was a resolution and dismissal of four patent infringement claims brought against FIS by Fiserv in 2012.
MasterCard has shuffled four top executives to evolve the company’s “Global Products and Solutions” and “Operations and Technology” business units, effective January 1st.
London and Los Angeles-based inAuth snagged a new top executive from Monitise. Lisa Stanton, formerly the President of the Americas for Monitise, will now serve as InAuth CEO.
CA-based MyECheck has named Jim Fancher as executive vice president to oversee the company’s growth plan, including the expansion of top and bottom line revenues.
CardWeb.com’s CardExecs database of card industy movers and shakers today features Souheil Badran, senior vice president and general manager of Digital River World Payments. Digital River is a global provider of Commerce-as-a-Service solutions.
Bluefin Payment Systems announced the addition of Julie Counterman as Senior Vice President, Business Development and Sales to manage Integrated Software Vendor (ISV), E-Commerce, Inside Sales and Relationship Management teams. Ranked as the 6th fastest growing private company in the U.S. by Inc. Magazine in 2012, Bluefin is a leading payment processor in the U.S. and Canada, integrating their PayConexTM payment gateway with ISV, SaaS and enterprise management platforms, while serving major E-Commerce merchants directly. Most recently, Julie served as the Executive Vice President of Sales and Marketing at Accelerated Payment Technologies (APT) where she was instrumental in increasing net revenues and EBITDA growth; Accelerated was acquired by Global Payments Inc. in October 2012. She was also the SVP of Sales and Marketing at Recordant, VP of Sales and Marketing for Harland Financial Solutions, Chief Marketing Officer at InterCept, Inc. (acquired by Pay By Touch) and Vice President of Marketing at Spectrum (acquired by Metavante).
FIS named 25-year FIS veteran and current President and Chief Operating Officer (COO) Gary A. Norcross to its board. Having assumed the role of President and COO on March 30, 2012, Norcross is responsible for the steering and execution of the company’s global business strategy. Prior to his current role, Norcross held several leadership positions within the company and was instrumental in the 2009 acquisition and integration of Metavante Technologies, Inc. He was also instrumental in the acquisition of leading organizations such as Certegy and eFunds and more than 15 other companies, helping to grow FIS to more than 35,000 employees with over $5.8 billion in annual revenue. Norcross is active in the local North Florida community and serves on the Dean’s Executive Advisory Board for the Sam M. Walton School of Business at the University of Arkansas.
Fiserv announced it has filed suit against Fidelity National Information Services (“FIS”) and its subsidiary, the Metavante Corporation. The suit alleges FIS infringes on Fiserv’s patents when it provides customers with certain financial and payment solutions. This namely alleges FIS’s “Payment Manager” products as infringement, which process inter-bank account-to-account fund transfers, process payment instructions, and provide electronic biller notifications as an integral part of its electronic bill payment processes.
Monitise is further strengthening its alliance with Visa Europe, which is investing GBP24.7 million in Monitise at an issue price of 35p per share for 70.5 million new Monitise shares. With this, Visa Europe President and Chief Executive Peter Ayliffe, will join Monitise’s Board of Directors. Monitise also announces it has agreed to acquire the 51% stake in its US joint venture, Monitise Americas, held by Metavante Corporation, a subsidiary of Fidelity National Information Services Inc. (NYSE: FIS) (“FIS”). FIS is one of the world’s largest global providers dedicated to banking and payments technologies. In consideration for the purchase, Metavante will be issued with a 3.3% stake in Monitise plc. Completion is conditional on shares being admitted to trading on AIM. Monitise’s acquisition of the 51% stake in Monitise Americas values that business at $29.4 million.
FIS posted financial results for the quarter and full year ended December 31, the former reflecting revenue of $1.4 billion. This is up from the $1.3 billion in revenue posted in 4Q/09.
Also, net earnings from continuing operations totaled $121.3 million for the quarter, compared to the $52.3 million loss last year, while adjusted revenue increased 7.6% to $1.4 billion compared to adjusted revenue of $1.3 billion and increased 6.1% organically. Meanwhile, adjusted net earnings from continuing operations totaled $196.9 million compared to adjusted net earnings from continuing operations of $168.9 million in the year ago period.
Throughout 2010, GAAP revenue for the full year 2010 was $5.3 billion compared to $3.7 billion for full year 2009; net earnings totaled $447.6 million; adjusted revenue increased 4.2% to $5.2 billion, compared to adjusted pro forma revenue of $5.0 billion in 2009; and adjusted net earnings from continuing operations totaled $711.1 million compared to adjusted net earnings from continuing operations of $395.2 million in 2009.
This performance was due in part to FIS having completed the acquisition of Capco; the acquisition of Metavante; and Company expansion into Brazil. Subsequently, FIS is projecting a 2011 revenue growth of 9% to 11%.
FISTM banking and payments technology has changed William P. Foley II from executive chairman to non-executive chairman of the board, effective immediately. Foley served as executive chairman of FIS since February 2006 and requested the transition to non-executive chairman to devote more time to additional business opportunities and commitments. Foley oversaw the Metavante integration project since the get-go and is confident the team will continue to advance strategy without his executive leadership.
Tom Pierce has joined Cardtronics ATMs as Chief Marketing Officer. In this role, he will lead company-wide marketing, advertising and communications efforts; build Cardtronics’ brands; support Cardtronics’ sales organizations and develop market strategies to increase Cardtronics’ per ATM and fleet wide transaction volume. Bringing with him extensive marketing strategy and communications experience, Peirce most recently served as VP, Marketing Strategy for FIS payment and financial technology after having filled marketing leadership positions with Metavante Corporation, Wausau Financial Systems, and Journal Sentinel. He holds a Bachelors degree in journalism from Marquette University and has been an active member of his community with involvement in numerous charitable and community organizations.