Payment Patent Portfolio
Patents disclosing a multi-purpose, multi-card reader with storage, display, and transmission capabilities, available from inventor Adrian Gluck, PhD are going up for sale.
Datacard Group Announces New Datacard Instant Issuance
Datacard Group secure ID and card personalization solutions made available its Datacard “CR500” instant issuance system, expanding Datacard Group’s portfolio of end-to-end financial instant issuance solutions. This allows banks, credit unions, retailers and service bureaus to print ready-to-use, flat financial cards on demand. The system, which offers enhanced encoding capabilities as well as superior image quality with retransfer print technology, turns blank white stock into highly customized, ready-to-use permanent payment cards instantly. It can print up to three different card types including credit, debit or ATM cards. It is also integrated with the patented Datacard® CardWizard® issuance software, which transfers all cardholder personalization data fully encrypted to the CR500 system.
National Bank of Egypt Deploys ACI Accounting
National Bank of Egypt (NBE) has implemented the ACI Worldwide payment systems “Acquirer,” transforming merchant acquiring infrastructure and enable it to deliver flexible and tailored back-end accounting and management solutions to its merchants. The National Bank of Egypt is committed to delivering the latest products and services to its customers, and invests in technology to enable it to stay at the forefront of its industry. The bank will be able to offer its merchants international multi-currency, multi-product and multi-card scheme payment processing leveraging standard product features , combined with the ability to support sophisticated retailer relationships.
AsiaPay expands its payment services and technologies
AsiaPay launched its “PayDollar” advanced, secured and comprehensive online payment services and technologies to banks, merchants and payment service providers. AsiaPay established its tenth sales and service operation in Kuala Lumpur. AsiaPay Malaysia is able to support merchants in processing credit card transactions with four leading banks as well as direct debit payments. AsiaPay is a certified International 3D-Secure vendor for Visa, MasterCard, JCB, and American Express, and has been PCI DSS compliant since 2006.
Planet Payment Posts 4Q/10 Total Revenue up 32%
Planet Payment payment and data processor posted its 4Q/10 total revenue up 32% to $15.5m from the year ago figure of $11.7m with multi-currency revenue up 47% to $12.5m from the year ago figure of $8.5m. Gross profit for the period was up 22% to $5.0m from $4.1m in 3Q/09 while adjusted EBITDA for the quarter increased to $0.4m from $0.2m in Q3’09. For all 2010, Total revenue was up 37% to $64.7m; Gross Profit increased 26% to $20.5m (2009: $16.3m); and
Multicurrency Revenue increased 56% to $52.1m (2009: $33.3m). This performance was thanks in part to the Company having expanded to exponentially around the globe with new operations and multicurrency processing services in Singapore, Sri Lanka, the Maldives, Brunei, the Philippines, the United Arab Emirates and South Africa. Additionally, active merchant locations grew 66% to approximately 16,760.
First Data Patents Multiple Pre-Paid Card Activation
First Data payment processing has been granted U.S. Patent No. 7,822,640 for technology to activate multiple prepaid cards at the POS. The “Multi-card Bulk Package Identifying Activation Systems and Methods” patent covers technology that allows merchants to activate all of the cards within a multipack at once rather than having to individually scan or key in each number. Also First Data uses the technology to generate an additional account number for the entire package when multiple packs are purchased, which could be for open- or closed-loop cards.
Banco de Venezuela Selects FIS IST/Switch Platform
FIS banking and payments technology has expanded to Banco de Venezuela (BDV) with its IST/Switch, Clearing and DataNavigator solutions. The bank plans on upgrading their infrastructure to take advantage of the flexibility and scalability provided by IST/Switch that will support existing processing needs and future growth. FISâ IST/Switch enables financial institutions to process transactions from any source including ATM, POS, Internet and mobile devices, managing interbank and internetwork processing gateways and multi-channel payment interfaces. FISâ Clearing is a multi-card, multi-institution and multi-currency interchange solution that enables financial institutions to drive clearing operations for both issuers and acquirers, including transaction validation, editing, and qualification and clearing file generation. FISâ DataNavigator is a comprehensive solution that collects and connects transactional data across the entire enterprise helping banks to improve customer service levels, track fraud patterns and understand customer behavior in order to manage the back-office.
FIS GLOBAL
FIS banking and payments technology has expanded to Banco de Venezuela (BDV) with its IST/Switch, Clearing and DataNavigator solutions. The bank plans on upgrading their infrastructure to take advantage of the flexibility and scalability provided by IST/Switch that will support existing processing needs and future growth. FIS’ IST/Switch enables financial institutions to process transactions from any source including ATM, POS, Internet and mobile devices, managing interbank and internetwork processing gateways and multi-channel payment interfaces. FIS’ Clearing is a multi-card, multi-institution and multi-currency interchange solution that enables financial institutions to drive clearing operations for both issuers and acquirers, including transaction validation, editing, and qualification and clearing file generation. FIS’ DataNavigator is a comprehensive solution that collects and connects transactional data across the entire enterprise helping banks to improve customer service levels, track fraud patterns and understand customer behavior in order to manage the back-office.
Wells Fargo Enhances Commercial Card Program
As part of its “WellsOne” Commercial Card program, Wells Fargo & Company said it has released its next-generation program administration, reporting, and reconciliation tool: the proprietary, online Commercial Card Expense Reporting (CCER) service. The single-card “WellsOne” program can be used to pay for expenses incurred by traveling employees, vehicle fuel and maintenance, and small- and large-dollar corporate purchases, including accounts payable (AP) disbursements. The WellsOne Commercial Card program helps customers by replacing a multi-card strategy comprised of separate travel and entertainment cards, fleet cards, procurement cards, and â in many cases â traditional paper-driven processes, such as administration of petty cash or purchase orders and invoices. It also includes automated international ACH processing for Canadian cardholders to settle out-of-pocket and personal expenses to Canadian bank accounts.
CSI Corp Card Offers Prepaid and Secured Options
A Florida firm has expanded its payment card program to enable
businesses to use the product as a prepaid card or as a secured credit
card. The “CSI MasterCard Corporate Multi-Card” offers two options. The
first option allows businesses to pre-fund a card through a business
initiated ACH bank payment or wire transfer, with a $1,000 minimum. The
second option is a deposit account. With this option, applicants submit
a deposit to secure their account and establish an initial credit line
equal to the deposit. The business is invoiced and makes payments twice
per month on the 1st and 16th. The card also offers automatic fuel discounts at 25,000 locations nationwide. CSI charges an initiation fee of $75 and a $75 annual fee. The late payment fee is $75.00 or the maximum amount permitted by law. There is also an over-limit fee of $50 and an account reinstatement fee of $15. The CSI card is issued by Regions Bank.
Advent Takes Control of Fifth Third Processing
Advent International has closed on its 51% stake in Fifth Third’s
processing business. The Fifth Third Processing Solutions, LLC. deal is
valued at $2.35 billion. Fifth Third will retain its 49% interest, and
will also retain its credit card issuing business, which includes retail
credit card and commercial multi-card services. Advent has been active
in the financial services sector for over 20 years, and has backed more
than 25 companies worldwide in a broad range of sub-sectors, including
payments, transaction processing, and financial technology. Related
investments include: Brazil’s CSU CardSystem; Dolex Dollar Express,
which Advent sold to Global Payments in 2003; and Monext, a French
merchant acquirer and bank processor which Advent acquired in 2008.
Advent Intl Takes a Major Stake in 5/3 Processing
Fifth Third Bancorp and Advent International have established a joint venture for Advent to
acquire a 51% interest in Fifth Third’s processing business. Advent will pay Fifth Third $561 million
in cash for a 51% ownership interest in the equity of the LLC and
for certain put rights. Additionally, Fifth Third will receive warrants
in the new company exercisable in certain circumstances. Fifth Third
estimates the valuation adjustments related to these warrants, the put
rights, and minority interest discounts may reduce its implied valuation
of the business by an estimated $50 million. The agreement is subject to
certain potential purchase price adjustments.