Monitise reports FY 2015 revenue declined 6% to £89.7m. The loss was £41.8m, was at the lower end of the Company’s guidance range of a £40-50m loss. Elizabeth Buse has stepped down as CEO and from the Board. Deputy CEO and Chief Commercial Officer Lee Cameron has been appointed CEO.
CardWeb.com’s CardWatch database of more than 57,000 marketing items today features the Walmart Credit Card ‘Own the Season’ TV ad.
At its Innovate Developer Conference 2011, eBay announced the integration of Facebook’s new Open Graph functionality into its Magento and GSI global commerce platforms. This will allow developers to build new social shopping experiences for millions of consumers and retailers of all sizes, from small business entrepreneurs to national and global brands. Facebook functionality will be integrated into eBay Inc.’s X.commerce open commerce ecosystem. This gives third party developers access to eBay’s global commerce technology, including the Magento open commerce platform. More than 100,000 retailers worldwide who use Magento will soon have a seamless way to enable their customers to use new sharing options including ‘want’ and ‘own’ buttons as part of a new social shopping experience.
Contis Group online banking and prepaid card technologies and services to major global banking and retail brands, has committed to the prepaid card market by commencing an investment program of GBP2million. The investment will ensure Contis is best positioned to take advantage of developments in payment processing and the advancements in cloud computing and SMART phone technology. The end-to-end service provider in the prepaid card industry offers payments technology commissioned by banks, retailers and financial services giants.
Flint Telecom Group has fully completed the acquisitions of the entire issued capital of Ingedigit International debit cards and Gotham Ingedigit Financial Processing. Power2Process. Each company will operate as separate entities within the Flint Telecom group of companies. Ingedigit International Inc. is a U.S. based independent sales organization (“ISO”) offering International pre-paid debit card services in partnership with international banks and other program sponsors, to offer debit cards and other related products to their customers. Ingedigit International will be rebranded Power2Process in the coming weeks to enhance its international appeal and presence and is a U.S. based advanced financial transaction processing and technology company.
SMS communication provider Clickatell has released its first “Mobile State of the Union” analysis. The report evaluates the state of mobile banking capabilities and target markets.
According to the report, banks must consider their entire customer base when rolling out critical mobile services; and more specifically what happens to those who cannot be reached on a smart phone?
Four billion of us, however, can access SMS in seconds, from any phone.
In other regions of the world, SMS is being used for critical banking functions and other mobile services such as airtime top ups, bill payments, real-time payments, lottery, remittances, point of sale payments, and more. The US is concentrating heavily on the smart phone market, which has yet to reach critical mass adoption, which equates to future revenue. Most enterprises and financial institutions are clearly looking to increase the all-important bottom line today. Regardless, we believe US-centric companies will continue to focus on iPhone and other smart devices.
Chicago-based Cardways.com has launched 4YourSoul.com to offer customized gift cards. At Cardways.com, consumers can make gift cards uniquely their own by uploading digital photos and script to create a personalized message for family and friends. From a ballet recital to a memorable vacation spot, users can easily add their photos to appear on two-thirds of the gift card. The remaining third of the gift card features the retailer at which the gift card value can be redeemed. Cardways.com is a service of Arroweye Solutions. Founded in 1999, Arroweye Solutions is a technology enabled marketing services company focusing on gifting solutions for multi-channel retailers.
2001 The Smart Card Alliance today announced that it will undertake a survey to measure the usage of smart cards in the United States and Canada. The research will be conducted by KPMG.
‘As a strong voice for smart card adoption, the Alliance is proud to sponsor this original research that will provide the first concrete data on our industry in the 21st century. What we’re doing is establishing a benchmark,’ said Bill Randle, Chairman of the Smart Card Alliance.
The survey will ask the top ten smart card manufacturers supplying the US and Canadian markets to report on shipments according to ten specific industry categories, such as wireless, financial and retail. The initial survey will cover shipments made in 1999, 2000 and the first half of 2001. A follow-up survey covering the last half of 2001 will be made in the first quarter of 2002.
‘The US and Canadian smart card markets have experienced significant growth over the past several years’, said Dan A. Cunningham, Chairman of the Alliance’s Market Research Committee. ‘The purpose of the survey is to quantify this growth by industry, and distribute the results to our members and interested third parties.’
The survey is one of many initiatives of the Smart Card Alliance, a not-for-profit association formed earlier this year by the joining of forces of the Smart Card Forum and the Smart Card Industry Association. The goal of the Alliance is to promote the usage of smart card technology and related applications. The newly combined organization brings together all the players in the industry including leading banks and card issuers, technology firms as well as industrial and retail companies and government organizations interested in smart card development.
President and CEO of the Smart Card Alliance, Donna Farmer stated, ‘the combined resources and leadership of our new organization allow us to undertake projects like this survey, that neither predecessor organization could have done on its own.’
The results of the initial phase of the survey will be presented at the Alliance’s Annual Meeting in October 9-12th. The Alliance plans to continue the survey in 2002 and beyond to establish a well-defined trend line of smart card growth.
‘We’re excited about the opportunity to assist the Smart Card Alliance in this endeavor,’ stated Tim Harrison, a Principal in KPMG’s Information Risk Management group. ‘This survey will allow us to create a better understanding of the growth and use of smart card technology within the US and Canada over the past few years, ‘ he added.
About the Smart Card Alliance
The Smart Card Alliance is a not-for profit, multi-industry association of over 185 member firms working to accelerate the widespread acceptance of multiple application smart card technology. Through specific projects such as education programs, market research, advocacy, industry relations, and open forums the Alliance keeps its members connected to industry leaders and innovative thought. The Alliance also is the single industry voice for smart cards, leading industry discussion on the impact and value of smart cards in the U.S. More information about the Alliance is available at .
About KPMG
KPMG LLP is the accounting and tax firm that understands the needs of business in the global economy. We help our clients by devising results-oriented business strategies, providing insights that help them stay ahead of the competition and achieve market-leading results. KPMG LLP is the U.S. member firm of KPMG International. KPMG International’s member firms have more than 108,000 professionals, including 7,000 partners, in 159 countries. KPMG’s Web site is
Despite the stress of sixty-hour work weeks and constant financial pressures, Canada’s small business owners still say running your own show is the way to go.
For them, the excitement and personal fulfillment of entrepreneurship far outweigh the many sacrifices they have to make to achieve their dreams. These are the conclusions of a new study conducted by American Express in which small business owners profess they have no regrets about going it alone.
While many decide to set out on their own with visions of striking it rich, the results show most entrepreneurs place a higher premium on independence when it comes to the motivation for starting up their own firm. Above all, they want to be their own boss and call the shots when it comes to the direction their professional and personal lives take.
“Many people are clearly choosing to go it alone as an escape from the politics and frustrations of big business. They are looking to pave their own path, rather than leaving it in the hands of someone who has little stake in their future,” states Debra Ambrose, head of Small Business Services at American Express.
But Amex’s study suggests that going it alone is not for the faint-hearted. It paints a picture of high-pressure and commitment; of a lifestyle where work is the dominant factor, and where even leisure activities tend to become business-related.
What do they give up?
——————— There’s no question that running a business demands an enormous degree of dedication. Still, many entrepreneurs are caught off guard by the level of effort and sacrifices that are required to get a business off the ground and keep it afloat. Only a tiny handful of those polled said managing their operation ended up being easier than expected. In fact, more than half indicated that it was more work than they bargained for, with nearly 80 percent admitting that running their business is stressful.
According to the Canadian Federation of Independent Business (CFIB), the issues that cause small business owners the most headaches are administration, financing, government compliance and taxes.
Added to this is a level of financial uncertainty that self-employed individuals regularly contend with. In the Amex study, several respondents confessed that they miss the stability of a steady pay cheque and worry about their future financial security.
On top of these business concerns, the study found that entrepreneurs must struggle with the impact running a business has on their personal lives. Fully half of those polled felt that their work demands too much of their time since they are obligated to be personally involved in everything that impacts their operation. Many also worry about the amount of quality time they are able to spend with their family.
So what keeps them going?
————————- True to the spirit of entrepreneurship, business owners have a strong will to succeed and rely on their own passion to stay motivated in spite of the daily pressures. In sync with their original motives for going it alone, the survey shows that the vast majority of entrepreneurs continue to be driven primarily by the satisfaction of being independent.
For many, it’s also the pure enjoyment of their work, and the ambition of a financially-rewarding future that keep them pushing ahead. Others turn to their friends and family for encouragement, with several respondents – particularly those with a number of years invested in their business – citing a strong commitment to their employees and customers as their inspiration to keep going.
“Entrepreneurs are the epitome of dedication and commitment. They have a genuine passion for their work, a loyalty to their business and their staff, as well as a strong drive to build something of their own,” says Ambrose. “It is clear that, for them, it’s not just winning that counts, it’s the thrill of the game.”
But is it all work and no play?
——————————- A nine-to-five day at the office is a rarity for most small business owners. In fact, the majority put in more than 50 hours of work per week, with almost 30 percent clocking over 60 hours. Yet, few consider themselves “workaholics” – evidence of just how much of a driving force work is in their lives. In fact, one-third of those polled admit they don’t indulge in leisure activities, citing that they simply don’t have enough time to spare for anything that’s not work-related.
On the whole, though, leading a balanced life is important for business owners, with most trying to squeeze in time for play whenever possible. However, since time is at such a premium, some end up combining their leisure activities with business opportunities. A round of golf, going to a ball game, or going out to dinner are often used as a means of building relationships with business contacts.
Would they do it again?
———————– Nearly 75 percent of those polled feel well-rewarded for their hard work, with three in five saying they enjoy a better quality of life since starting up their business. In fact, the vast majority of business owners would do it all over again if given a second opportunity. Over 90 percent of respondents said they are generally happy with the way things have worked out since venturing out on their own.
Small business owners are also remarkably buoyant about the future, with four in five intending to continue working at the same frenetic pace or even harder to expand their businesses. Very few of those polled said they want to slow down and relax more, and even less are thinking about packing it in to retire early. These findings are supported by a recent CFIB study which showed that the number of small firms expecting to grow in 1999 outnumbered those that see a decline by a margin of three to one.
“The small business sector is a vibrant and integral part of our country’s economic future. Owners of these firms deserve a lot more credit and recognition,” says Ambrose, adding that the “Risks and Rewards” study is part of Amex’s increasing attention to the needs of this thriving market. The study follows the charge and credit card company’s October 1998 announcement that it would be putting significant resources behind the development and marketing of new products and services to expand its customer base among the more than two million small and home-based businesses in Canada.
Ambrose continues, “Along with practical financial support, Amex will focus on developing special travel and rewards programs for small businesses — helping to create opportunities for entrepreneurs to make the most of their limited leisure time.”
As part of that effort, the company has signed on as a Sponsor in the newly expanded AIR MILES for Business Program(TM) launched today by The Loyalty Group in Toronto. The program rewards small business owners for their everyday business spending in addition to their personal spending. On top of that, AIR MILES(R) Business Collectors are eligible for exclusive Business Sponsor bonus mile offers and unique rewards tailored to meet the needs of small business owners. Other Sponsors in the program include AT&T Canada, UPS, NEBS Business Forms, Holiday Inn and Liberty Health.
American Express in Canada operates as Amex Canada Inc. and Amex Bank of Canada. Amex Canada Inc. is a leading provider of travel related services in Canada and assists companies in managing and controlling their business and travel expenses. Amex Bank of Canada is the issuer of American Express Cards in Canada. Both companies are wholly-owned subsidiaries of the New York-based American Express Travel Related Services Company, Inc., the largest operating unit of American Express Company, which provides a wide range of financial and travel related services for consumers and companies.
THE RISKS & REWARDS OF GOING IT ALONE
An American Express Survey of Small Business Owners in Canada
Key Facts & Findings
————————————————————————- – 93% of small business owners are generally happy with the way things have turned out since going into business for themselves. The remainder admit they wouldn’t do it again.
– The top three reasons for going it alone are: being your own boss and having control over decisions (89%), making better use of your skills and knowledge (86%), followed by the potential for financial rewards (70%).
– While men are more likely than women to be motivated by the chance of making money (66% vs. 51%), women are more inclined to do a job that fits well with their home and family life (74% vs. 57% of men).
– It’s the same satisfaction of being independent (65%) and the ambition of a prosperous future (23%) that keep small business owners motivated in spite of the daily pressures. Nearly 30% also cite the pure enjoyment of their work as a significant driver to keep going.
– Seven in ten feel well-rewarded for their hard work.
– Almost 60% say they enjoy a better quality of life since starting up their business.
– Over 75% of small business owners find running their business stressful.
– More than half say the effort they’ve had to put into their business is more than they bargained for. A mere 3% feel that going it alone ended up being easier than expected.
– 60% of small business owners put in more than 50 hours of work per week, with one-quarter of these clocking over 60 hours. Only 13% put in a regular 40-hour week or less.
– 50% feel that their business demands too much of their time. As a consequence, nearly two in five say the amount of quality time they are able to spend with their family has suffered.
– Less than one-third (30%) of small business owners describe themselves as “workaholics”.
– One-third admit they don’t indulge in leisure activities. Of these, the majority (67%) cite that they simply don’t have enough time to spare for anything that’s not work-related.
– Of the 70% who do squeeze in time for leisure activities, most (50%) prefer to spend it on the golf course or taking part in other sports. Other favourite pastimes include travel (47%), hobbies (35%), going out to dinner (29%), and spending a night at the movies (16%).
– One-third (36%) find it difficult to relax in their time off.
– More than 40% plan to expand their enterprise through diversification or by growing staff and sales. Only 14% want to slow down and take things easy for a while.
Telephone interviews were conducted with 305 American Express Small Business customers throughout Canada in February 1999. The majority had been in business for more than five years, and covered a broad range of industries, including retailing, manufacturing, business services, and agriculture. On selected key issues, responses were combined with the results of a similar Members’ survey conducted by the Canadian Federation of Independent Business (CFIB), thereby increasing the sample size in these cases to 636. The questions that apply are: Hours worked per week, Amount of effort put into business, Key motivators for becoming self-employed, Agreement with challenges and rewards of self-employment.
Unifleet, the vehicle management segment of the UK’s United Utilities, signed a contract Friday for more than 3,600 ‘Overdrive’ fuel cards. Under terms of the deal, the cards will be owned by Unifleet and will carry the ‘Overdrive’ symbol accepted at all ‘Overdrive’ merchant sites. The company said it made the decision not to use an oil company card on the basis of coverage. Although ‘Overdrive’s’ cost-per-card was not the lowest price, the deal was driven by additional valued-added services and the quality of reports, which came at no extra cost. Five companies competed for the contract.
A new study released this morning shows 78% of ATM consumers actively avoid ATMs with fees. The Opinion Research Corporation study also revealed that 67% of ATM customers say ATM fees discourage them from considering the fee-charging bank for other products and services. Of consumers using ATMs outside their own bank’s branch system and incurring surcharges, 47% say it “makes them mad” while 38% say it “bothers them somewhat”. Other ORC findings 57% have used an ATM at a non-bank location, 48% have used ATMs at the branch of another bank and 44% have used their ATM cards for retail purchases.