WesBanco selected Talaris Vertera teller cash recyclers to automate most of its 112 branches. Talaris cash automation solutions will enable WesBanco to solve several specific business issues including increasing physical security, reducing idle cash, improving teller staffing efficiencies all while enabling tellers to concentrate on providing a higher degree of customer service. Vertera cash recycler can accept, authenticate and store currency, providing branch staff more time to engage customers and reducing customer wait times.
First Niagara Bank did it with a direct mail package that featured Free ATM access anywhere in the country. Along with this was a head-to-head competitive comparison and an easy-to-read design, resulting in a direct mail package that “hits a home run,” according to ABA Bank Marketing, which reviewed the package in November’s “The Letter Clinic” column. The mailing was developed by Catalyst, a direct and digital marketing agency.
Evolution1 electronic payment, on-premise and cloud computing healthcare solution appointed Robert J. Sheehy to its board of directors. Bringing with him extensive experience and expertise, Sheehy served with UnitedHealth Group for more than 20 years, from 1986 to 2008, becoming CEO of UnitedHealthcare in 2000. Sheehy held various multi-state and single-state responsibilities in the Midwest and led all of United’s acquisitions that were health plan focused during this period of the company’s growth. In 1998, Sheehy was named president and chief operating officer of UnitedHealthcare, and after serving as CEO for seven years, he became senior vice president of UnitedHealth Group in 2007.
Financial Technology Partners LP and FTP Securities has been designated the sole strategic and financial advisor to EDC and its Board of Directors on its sale to Cardtronics USA for $145 million. EDC turnkey ATM deployment services operates approximately 3,700 ATMs and multi-function kiosks in the United States focused on multi-state retail operators and high-transacting merchant locations such as convenience stores. This adds to the number of Cardtronics’ ATM terminals and will significantly increase its market footprint, particularly in the Midwest and Great Lakes regions.
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.
Hagens Berman is investigating potential claims against five prepaid debit card companies, including First Data Corporation, Green Dot Corporation, Account Now, Netspend Holdings and Unirush Financial Services after the Office of the Attorney General of Florida issued subpoenas challenging whether the companies misled consumers regarding hidden fees, or engaged in other deceptive practices. Prepaid debit cards, once loaded with funds, can be used to withdraw money from ATMs or purchase items, just like any other debit card. They are, however, not associated with any bank account and are instead loaded with funds in advance. Hagens Berman is interested in talking to consumers who used a prepaid debit card and feel that the company providing the card failed to disclose hidden fees or otherwise misrepresented the card’s features.
The Western Union Company posted 4Q/10 revenue of $1.4 billion, up 3% since the year ago period, and operating income margin of 24%. Also, the Company posted consolidated revenue of $1.4 billion up 3% from the prior year fourth quarter while global consumer-to-consumer transactions were up 9% and revenue growth in U.S. domestic money transfer was 7% on a 29% increase in transactions. Growth in agent locations to 445,000 helped the consumer-to-consumer segment generate $1.2 billion to represent 85% of total revenue, up 3% since the year ago period. International C2C transactions totaled 56 million in the quarter up 9% since the year ago period while revenue increased 3% for the international portion on transaction growth of 8% and the Global Business Payments segment represented 13% of Western Union’s revenue in the quarter. For the full year, Western Union consolidated revenue was $5.2 billion, up 2% from the prior year; the operating income margin was 25% compared to the same in 2009; the consumer-to-consumer segment represented 84% of Western Union’s revenue at $4.4 billion for the year at a 2% increase year-over-year; and the Global Business Payments segment represented 14% of Western Union’s revenue for the year, for which revenue was $722 million to increase 4% since the year ago period.
Dazbog Coffee multi-unit, multi-state gourmet coffee company has partnered with Mocapay and will launch its mobile platform initially at Colorado locations.
The Mocapay mobile suite is easily integrated with Dazbogâs existing POS equipment. This is a prime example of the adaption to the digital culture for
mass marketing to reach every age demographic. Mocapayâs mobile suite is ultimately designed to increase loyalty and drive revenue through the POS with
m-payments capability. Soon to follow will be the Mocapay payment solution at Arizona, California, Maryland, Texas and Wyoming stores.
Western Union has posted 3Q/10 consolidated revenue of $1.3 billion, up 1% from the prior year, with an operating income margin of 26%, compared to 21% in last yearâs third quarter. The consumer-to-consumer segment represented 85% of Western Unionâs revenue at $1.1 billion in the quarter, an increase of 1% compared to the prior year, for a fourth consecutive quarter of accelerating constant currency revenue growth thanks to 55 million C2C transactions throughout the quarter, 10% up on 3Q/09. International C2C revenue increased 2% on transaction growth of 7% thanks in part to transactions having originated outside the U.S. up 1% on transaction growth of 7%. Meanwhile, Global Business Payments segment represented 13% of Western Unionâs revenue in the quarter, which totaled $179 million for an increase of 5% on 3Q/09. Westernunion.com transactions in international markets increased more than 60% in the quarter with total transactions up 20%. Western Union increased its prepaid cards-in-force to over 650,000 with retail distribution available at over 9,000 U.S. locations.
1Q/09: $1.1 billion
2Q/09: $1.3 billion
3Q/09: $1.3 billion
4Q/09: $1.3 billion
1Q/10: $1.2 billion
2Q/10: $1.3 billion
3Q/10: $1.3 billion
SOURCE: Western Union
The Western Union Company has released financial results for the 2009
fourth quarter with a 2% increase from Q4 2008.
In the fourth quarter, revenue was $1.3 billion, an increase of 2% from
the comparable period in 2008, or down 1% on a constant currency basis.
Fourth quarter operating income margin was 24%. As expected, operating
income margins were impacted by Custom House and FEXCO acquisition
related costs, U.S. domestic pricing reductions and marketing
promotions, the assumption of the retail money order investment
portfolio, and other expenses. Operating income margin in the fourth
quarter of 2008 was 26%, or 28% excluding restructuring expenses.
GAAP and constant currency EPS in the fourth quarter of 2009 were $0.32.
GAAP EPS in the fourth quarter of 2008 was $0.34, or $0.37 excluding
restructuring expenses. For the full year, revenue was $5.1 billion,
down 4% from 2008, or down 1% on a constant currency basis. Full year
operating income margin was 25%, or 27% excluding the settlement
accrual, which compared to 2008 operating income margin of 26%, or 27%
excluding restructuring expenses.
Full year 2009 GAAP EPS was $1.21, or $1.29 excluding the settlement
accrual. On a constant currency basis EPS was $0.01 lower. GAAP EPS in
2008 was $1.24, or $1.31 excluding restructuring expenses. Custom
House, which was acquired in September 2009, added $23 million of
revenue, but incurred a $5 million operating loss in the fourth quarter.
For the full year, Custom House added $31 million of revenue and
incurred a $12 million operating loss.
Western Union reported that third quarter revenue was down 5% to $1.3
billion. The consumer-to-consumer segment was also down 5% to $1.1
billion in the third quarter, however WU handled 50 million C2C
transactions, a 3% increase over 3Q/08. The international portion of C2C
revenue declined 3% on transaction growth of 6%. The Global Business
Payments segment declined 3% to $171 million. During the quarter, WU
completed the acquisition of international B2B payments provider Custom
House; signed letters of agreement with LagardÃ¨re Services, Ortel
Finance and PayUp, potentially adding 15,000 locations in Europe over
the next few years; renewed agreement with Agricultural Bank of China,
bringing an additional 15,000 agent locations by 2011; agreed to partner
with Maxis Communications in Malaysia to launch a service that will
allow Maxis subscribers to send cross-border remittances from their
mobile phones worldwide. For complete details on Western Union’s third
quarter results visit CardData (www.carddata.com).
Alternative mobile payment provider Bling Nation has tapped Timothy
Shank, previously with USA Payment Services, as its new director of
Community Payment Services. Shank brings more than 15 years of sales training and development
experience to Bling Nation. He developed sales-based divisions in three
leading credit card processing companies as well as designed sales
procedures and created materials for multi-million dollar initiatives. Shank will lead the
companyâs outreach to merchants and small business customers. He will
educate them on Bling Nation and its Community Payments Service, which
enables merchants to bypass the current and costly debit payment model
and replace it with a cost-effective and efficient local payment network.