Euroclear has appointed Lieve Mostrey Executive Director, Chief Technology and Services Officer. Having began her career in 1983 within the IT department of Generale Bank in Brussels, moving to operations in 1997, eventually to become country manager for Fortis Bank Belgium, Mostrey was most recently appointed COO with Fortis Bank where she has sat since 2008. She was also a Non-Executive Director of the Boards of Euroclear PLC and Euroclear SA/NV between 2006 and May 2010. With her latest appointment, Mostrey will become a member of the Euroclear Group Management Committee and an Executive Director of the Board and will oversee all technological and operational aspects of the business.
RBS WorldPay has certified the Way Systems’ “way5000” mobile POS terminal. The POS device is a new generation, portable, wireless transaction processing terminal that is fully Class A supported by RBS WorldPay and available immediately. RBS WorldPay will market the way5000 through its multiple sales channels, including its nationwide direct and ISO sales forces. RBS WorldPay is a single-source provider of electronic payment processing services for credit, debit, EBT, checks, gift cards, e-commerce, customer loyalty cards, fleet cards, ATM processing and cash management services. WAY Systems offers end-to-end payment solutions for mobile merchants all over the world for the payment transaction needs of mobile merchants and exceed industry security standards.
MasterCard Incorporated will acquire DataCash Group payment service for $520 million to develop a long-term growth platform. DataCash allows e-commerce merchants to process secure payments and develops outsourced electronic payments solutions, fraud prevention, alternative payment options, back-office reconciliation and solutions for merchants selling via multiple channels through its fraud solutions and technology platform. DataCash processed more than 240 million transactions for more than 1,400 merchants in 2009, for which it reported an annual revenue of $58 million with an EBITDA margin of 46%. Mastercard sees this development as a means to drive the growth of the e-commerce category with its acquiring customers for online purchases; expand and enhance its “MiGS” gateway business currently operating in the Asia Pacific region; to leverage its network and global presence by expanding DataCash to beyond western Europe; and to strengthen fraud capabilities and expertise.
Semtek and RBS WorldPay payment processing have inked multi-year agreements to supply end-to-end security services and infrastructure for US merchants. Semtek’s “Cipher Decryption Service” (CDS) is being installed on RBS WorldPay’s host systems to capture transactions that have been encrypted in multiple formats. POS encryption occurs entirely within the Tamper Resistant Security Module of the payment device or at the encrypting read head and no decryption occurs until the transaction is within the RBS WorldPay host environment. The “Cipher Security Solutions” involve POS device encryption applications, software security, and network services, create a continuous security loop originating when a card is used to when a transaction is complete.
RBS WorldPay has completed certification of the Aldelo Systems
restaurant POS application. With this it has been selected as one of
Aldelo’s preferred electronic payments processors. The
Aldelo POS software solutions provider allows hundreds of restaurants
manage their POS and store operations more effectively over the years.
With over 50,000 installations and more than 400 value added resellers
around the world, Aldelo Systems has both the experience and resources
to assist any size operation. Aldelo Systems specializes in delivering
cost-effective, scalable solutions to small and mid-tier restaurants
nationally. Aldelo has over 50,000 POS installations in 15 countries
and manages a worldwide distribution network of more than 400 dealers.
Barclays Bank has outsourced management and maintenance services for 550 remote and host operated ATMs to NCR Corporation for a term of at least two-year contract. NCR will deliver managed services solutions for helpdesk services, incident management, first and second line maintenance and managing cash replenishment services in partnership with Cash-In-Transit management company Loomis. With this, NCR will focus on achieving ATM availability through the use of advanced diagnostic tools to carry out remote fixes where possible, the very latest engineer scheduling, automated incident management and dispatch software, along with a sophisticated parts logistics strategy.
The Experian study on credit card trends consumers are opening 26% fewer credit cards than in 2007 while the number of open bank cards were typically higher than retail credit cards, except for in Pittsburgh, Miami, Columbus and Atlanta. Meanwhile, New Yorkers have with the highest number of open cards- although they aren’t using them as much as some of the other cities- and Phoenix residents have the fewest. Atlanta has the highest average monthly balance is $6,753 on revolving accounts, although the consumers only have an average of 3.06 open accounts, while San Francisco and Houston have the lowest average monthly balance, with $5,323 and $5,328, respectively. The data was pulled and analyzed by Experian Decision Sciences using a statistically relevant sampling of Experian’s File One(SM) consumer credit database.
METRO OPEN CARDS/AVG BAL.
New York 3.77 $5,713
Pittsburgh 3.60 $5,989
Boston 3.49 $6,152
Phili 3.45 $6,078
Minn. 3.39 $6,610
Chicago 3.31 $6,182
SF 3.24 $5,323
LA 3.16 $5,681
Atlanta 3.06 $6,753
Sage North America has introduced its “Sage Payment Boss” mobile tool, geared toward small businesses for payment receipt anytime, anywhere with credit card acceptance on a 3G enabled phone and a merchant account. The “Sage Payment Boss” mobile tool allows businesses to run card transactions for verification on the spot, complete with an e-receipt to the payee once the transaction is complete. When used with “Sage Billing Boss,” “Sage Payment Boss” helps small businesses to get paid immediately, tracking and managing their incoming cash flow in real time, monitoring their sales activities and reconciling their credit card transactions with their merchant accounts.
MoneyGram International global payment services has reported 2Q/10 money transfer transaction volume up 7% while money transfer fee and other revenue were up 2% year over year. This is thanks in part to global agent locations having increased 13% over the prior year to 203,000. Total revenue declined 3% to $283.6 million, compared with $291.2 million in the same period last year. Total fee and other revenue declined slightly to $277.6 million, from $278.5 million in the same period last year. Total revenue in 2010 reflects investment revenue and net securities gains that were $6.7 million less than second quarter 2009. Net income for the quarter was $6.8 million, impacted by $6.0 million of stock-based compensation, $1.9 million of restructuring and reorganization costs, $1.5 million of asset impairment charges, and a $3.5 million write off of deferred financing and debt discount related to the early debt paydown.
Brian Hughes has been appointed Executive VP and Head of Card and Retail Services for HSBC Finance Corporation. Having been with HSBC since 2004, most recently serving as EVP, Marketing, for Card and Retail Services, he was responsible for the strategic direction and day-day-day leadership and operations of the Retail Services business and its merchant relationships. Hughes has played a key role in working effectively with the merchants on business solutions, including renegotiating many merchant and partner contracts. Prior to joining HSBC, Hughes was a Principal with Booz Allen Hamilton, where he specialized in growth strategy and marketing effectiveness.
Metro Bank has outsourced the management of its ATM estate, domestic and international payments and debit card processing to VocaLink. The VocaLink Service Bureau will provide Metro Bank with Straight-Through-Processing rates, as well as access to a comprehensive range of connectivity services, including SWIFT. The solution supports connectivity between Metro Bank, its customers and other clearing services that Metro Bank will participate in. By meeting all connectivity requirements through the VocaLink Service Bureau, Metro Bank will be able to boost productivity and minimise costs. With this, Metro Bank will minimise overhead costs and maximise the revenue potential of its ATM estate. The service covers everything from staging, connectivity and installation to 24 hour network, device monitoring and maintenance.
Greg Hammermaster, president (SVP) of Sage Payment Solution, is set to
present an education session on merchant card and payment services at
the National Association of Federal Credit Unions’ (NAFCU) 43rd Annual
Conference& Exhibition in Chicago. He will present “Explore Merchant
Card Services for Your Treasury Management Portfolio” to help credit
union attendees learn how to build a quality merchant services program
to attract and service business members.Sage Payment Solutions provides
secure standalone and integrated payment processing solutions to more
than 155,000 merchants. Backed with more than 20 years financial
services experience, Hammermaster has had his hand in sales, business
development, direction of the vision and execution for commercial card
practices, and developing strategic partnerships.