SPARROW Easy Charge
The new version of SPARROW’s Easy Charge incorporates powerful features like picture tiles for quick order taking and a new encrypted credit card swiper.
Smart Pay Biometry
Smartphone solutions will drive the biometrics market for the foreseeable future. Existing smartphone hardware provides a relatively stable foothold for some authentication modalities but rapid advances in the biometrics field will drive further smartphone hardware upgrades.
PaymentOne Awarded Two Patents for mWallet & Payments
PaymentOne global carrier billing for mobile consumers has issued two new patents by the US Patent Office related to multi-billion dollar markets for mobile commerce and direct carrier billing. These cover its fraud control and user authentication for commerce that is conducted using a carrier connected billing telephone number and its Internet payment methods and modalities tied to a user’s mobile, broadband and/or landline account. Collectively its patents the PaymentOne real time authentication and fraud control system. They further cover technology to validate, execute, and settle financial transactions using a variety of funding methods including a mobile bill account, credit/debit cards and pre-paid cards for physical and digital goods and services.
Kash Mart Launches mPayments Solution
Kash Mart International has announced the first large-scale commercial roll out of
cash-to-phone money transfers worldwide. Comprised of 170,000 partner and agent locations worldwide
in more than 160 countries and territories, the network is making available its âFast Kash Mobile Payment
System.â Currently in discussions with various banking partners and wireless carriers to introduce mobile
programs in other regions of the world, Kash Mart is aiming to service more agent locations with countries in Africa, Asia, Indo Asia, South
America, and CIS countires.
Mobile Banking Trends Webinar Slated
Tower Group is set to present the “Celling Banking to Your Customers:
Latest Trends in Mobile Banking” webinar
Thursday, October 8. Mobile financial services continues to garner
significant attention
from the industry, vendor community, press, and public. Although still
in its infancy, consumer mobile banking and payments will revolutionize
how consumers interact with their financial providers, manage their
finances, and make payments. This TowerGroup Live will provide
TowerGroup’s most recent research findings on the following topics:
how US mobile banking evolved, including projected adoption and
transaction estimates; how TowerGroup views the evolution
of the four primary mobile payment modalities and what are the
value-added services required to propel mobile payments into the
mainstream.
Delta Community CU Adds Fiserv Mobile Money
Fiserv financial services technology solutions has partnered with Delta
Community Credit Union to deploy its “Mobile Money” m-banking solution.
Selected for its âtriple playâ technology, which allows members to
access accounts using their mobile browser, text messaging or a
downloaded application to their internet phone, “Mobile Money” allows
users to conduct balance inquiries, account transfers, bill payments,
view transaction history and various alerts. The mobile solution offers
online and offline enrollment, integrating with core banking, online
banking and electronic payments systems through the combination of
M-Com’s “BankAnywhere” and Fiserv’s online banking, electronic billing
and payment, and fraud management tools. GA-based Delta Community Credit
Union was founded in 1940 to serve the metro Atlanta area.
GHANA ATM NETWORK
Regardless of a consumer’s own bank, now throughout the African
country of Ghana, Ecobank account holders will be able to
withdraw from Standard chartered Bank, Barclays Bank Ghana, Ghana
Commercial Bank and Zenith Bank ATMs, among others, according
to the Daily Guide. Beginning in March of 2008, this development is
made possible by software newly designed for payment systems meant
for the “E-Switch” payment system. This card system is projected to
attract new customers to do business with all 24 banks involved, the
segment of the population seeking to save money and those of whom are
unbanked.
Vaultid Card Gets Ready for Prime Time
Vaultid has successfully engineered and tested a fully functional prototype of its “Vaultid Card”, a credit card that uses a computer chip, biometric fingerprint sensor and dynamic account numbering to protect users from identity theft The Vaultid Card only works after users pass their fingers over the sensor and the card’s microchip confirms their identity. Once the user’s identity is confirmed, the card displays a unique account number that’s transmitted along a secure merchant network via radio frequency identification technology. The unique number allows users to complete their transactions. Vaultid Cards can generate up to 10,000 unique account numbers before repeating a number. Vaultid LLC provides identity-theft solutions to banks, government agencies and various businesses.
GE Finance Profits Up 17% in the 2Q/04
GE reported that profit for its Consumer Finance unit declined slightly from the record set in the prior quarter, but remain up 17% from one-year ago. Second quarter revenues hit a record $3.8 billion, a 26% jump over 2Q/03. GE posted $600 million in second quarter profit, compared to $602 million in the first quarter, and $514 million for 2Q/03. During the quarter, GE launched a MasterCard payroll card and teamed with eBay and PayPal to offer new consumer and commercial credit programs. The Company also completed the acquisition of wholesale lender WMC Finance, and Latvian sales finance and auto loan provider RD Lizinga Grupa. GE also signed a five-year agreement with Drexel Heritage, a premier furniture manufacturer, to provide a new retail credit program for its U.S. customers. For complete details on GE’s second quarter performance visit CardData (www.carddata.com).
GE CONSUMER FINANCIAL TRACK RECORD
Income Revenues
2Q/03: $514 million $3046 million
3Q/03: $595 million $3499 million
4Q/03: $506 million $3541 million
1Q/04: $602 million $3589 million
2Q/04: $600 million $3830 million
Source: CardData (www.carddata.com)
GE Consumer Finance Profits Rise 19% Sequentially
GE reported that its Consumer Finance unit posted a record $602 million in first quarter profit, a 10.2% gain over 1Q/03, and a nearly 19% increase over the prior quarter. First quarter revenues were $3.6 billion, a 30% jump over 1Q/03 but only up slightly over the fourth quarter. During the quarter, GE completed the acquisitions of RSGB in France and Orient Consumer Credit in Singapore, adding more than $800 million of assets and expanding Consumer Finance’s presence in growing markets for secured debt consolidation and the financing of used autos. The Company also acquired a 50% interest in IFG Group, a leading Irish specialty finance company, enabling the creation of a debt consolidation business in that market. Acquired Cashworks, a provider of technology solutions for the non-bank financial services industry that adds a strong foundation in the Americas for fee-based Consumer Finance business. GE also launched a private-label credit card and pilot dual card product with ASDA, a 270-store Wal-Mart subsidiary and one of the U.K.’s fastest-growing chains. For complete details on GE’s first quarter performance visit CardData ([www.carddata.com][1]).
GE CONSUMER FINANCIAL TRACK RECORD
Income Revenues
1Q/03: $546 million $2759 million
2Q/03: $514 million $3046 million
3Q/03: $595 million $3499 million
4Q/03: $506 million $3541 million
1Q/04: $602 million $3589 million
Source: CardData (www.carddata.com)
[1]: http://www.carddata.com
Family Dollar Deploys New Terminals with Expanded Services
Family Dollar has installed 10,000 VeriFone “Omni 3750” terminals in less than eight weeks and is now offering value-added services such as EBT and pre-paid telco services. Family Dollar is one of the fastest growing discount store chains in the United States, operating 5,051 outlets in 43 states from Maine to Arizona. VeriFone, Inc. provides expertise, solutions and services for today with a smart migration strategy for tomorrow. VeriFone is leading the industry in the delivery of solutions that add value to the point of sale, resulting in improved merchant retention and the generation of new sources of revenue for its partners and customers.
VeriFone’s Omni 3750 Continues to Lead the Market
The most successful product launch in VeriFone’s 22-year history just surpassed the 450,000 terminal milestone. The “Omni 3750” has been certified by all of the leading U.S. processors, supports solutions from over 30 value-added application providers, is shipping to merchants through existing acquirer and ISO channels, and has been installed in over 70 countries. The terminal offers swap-out capabilities of different communications modalities, including 14.4kbps dial-up, SSL-protected broadband DSL/cable, Wi-Fi, and Ethernet. It is also “EMV Level 1” and “Level 2” type approved, and has “Triple DES” and “PED” certification. VeriFone also recently announced the first Wi-Fi “Omni 3750” payment system at The Mall of San Marino in Ecuador and the first terminal deployment at US Ford Mercury dealers needing to migrate from dial to DSL.