UPT an affiliate of Aktif Bank, the largest investment bank of Turkey, has become the first financial institution to receive the Payment Services Directive license in Turkey.
Toronto-based BitGold has swallowed the intellectual property and operating subsidiaries of GoldMoney for $59.4 million and will become GoldMoney. The BitGold payment and savings platform will operate as a separate service focusing on the expansion of a high-growth internet user base, while also developing a global end-to-end payments and international transfer network utilizing BitGold settlement technology.
eBay’s board of directors has approved the completion of the previously announced separation of eBay and PayPal into independent publicly traded companies. Subject to the satisfaction of the conditions to the distribution, the distribution of PayPal common stock is expected to occur on July 17.
In today’s CardFlash News Que: FIRST ANNAPOLIS (Schwarcz); SHIFT4 (TrueTokenization): COALFIRE (InstaMed); and TASKER (Flint Mobile).
While largely ceremonial, President Obama today signed an executive order at the Consumer Financial Protection Bureau mandating the use of smart payment cards in the U.S. for government payments. The payment transistion in the U.S. from mag stripe/signature card payments to Chip/PIN (EMV) is already underway and will be in full steam in 2015.
One week after announcing it will become a separate company and hiring a big gun from American Express to be CEO, PayPal is feeling the heat from the emergence of Apple Pay. This morning PayPal is encouraging its 152 million active registered accounts to download a NFC App to turn their mobile phone into a payment device.
Monitise made a series of updates to its executive leadership team and Board of Directors.Former Visa Inc. payments executive Elizabeth Buse has been appointed co-Chief Executive of Monitise Group, effective immediately. Elizabeth also joins the Company’s Board of Directors.Elizabeth, an American national who was a member of the Monitise Board from July 2010 to October 2012, will head Monitise’s day-to-day operations, overseeing technology, product, sales and marketing while Alastair focuses on key relationships with partners and industry stakeholders, corporate development and major shareholders. Strategy will continue to be set by the executive leadership team in conjunction with the Board. Monitise’s growing ecosystem of partners and clients includes more than 350 banks, payment services companies such as Visa Inc., Visa Europe and MasterCard as well as Vocalink, FIS and IBM. In the mobile space, Monitise’s customers include Telefónica, Samsung, PCCW Mobile, Turkcell and BlackBerry. In the retail ecosystem they include brands such as Blackhawk Network Holdings with its network of more than 500 content providers operating in the US and 18 other countries, eBay, Turkey’s Bilyoner and Biletix, Venda, B&Q, Carphone Warehouse and Premier Inn. Elizabeth’s appointment comes after she stepped down from her role running international operations at Visa Inc. in March 2014 as Executive Vice President of Solutions. She joined Visa Inc. in 1998 and during her time there held roles including Group President of Asia Pacific, Central Europe, Middle East and Africa, Global Head of Product, Executive Vice President of Product Development and Management and Executive Vice President of Emerging Markets & Technologies.
Fidelity National Information Services announced the pricing of its sale of $300 million in aggregate principal amount of 1.450% Senior Notes due 2017 and $700 million in aggregate principal amount of 3.875% Senior Notes due 2024 (together, the “Notes”). The Notes will be guaranteed by certain of FIS’ subsidiaries. FIS intends to use the net proceeds from this offering to repay the entire outstanding principal amount of and accrued interest on its revolving credit facility, to repay up to $550 million of the outstanding principal amount of its Term Loan A-4 and for general corporate purposes. Any remaining proceeds will be used, together with additional borrowings under FIS’ revolving credit facility, to fund the purchase, through a call for redemption intended to be effective on or about July 15, 2014, of the entire $500 million aggregate principal amount of its 7.875% senior notes due 2020.
JetPay generated positive EBITDA from operations of $706,000 in the three months ended March 31, 2014 on reported revenues of $8.2 million. EBITDA for the three months ended March 31, 2014 was 8.6% of revenues as compared to EBITDA for the three months ended March 31, 2013 of $1.05 million or 13.7% of revenues. Revenues…
Monitise announced Tom Houghton has been appointed as a Non-Executive Director. Visa Europe’s new nominated director to the Board of Monitise, Tom heads the Core Payments division of the business. He joined Visa in 2011 as its Head of Processing, which accounts for 35% percent of the business’ overall revenue. Tom has spent a lifetime working in the payments industry, starting out in the retail sector. He worked for a major US merchant retailer running development and deployment for in-store point-of-sale systems, merchandising, inventory, and distribution applications. He then moved to electronic payments group ACI Worldwide, where he spent 21 years in a variety of roles in both North America and Europe, leading product management, product development, customer support, sales and services divisions.
Fifth Third Bancorp reported first quarter 2014 net income of $318 million versus net income of $402 million in the fourth quarter of 2013 and $422 million in the first quarter of 2013. Net income available to common shareholders was $309 million compared with $383 million in 1Q/13, and $413 million in 1Q/13. Fourth quarter…
JetPay has fully satisfied the arbitration award granted to EarlyBirdCapital Inc. As previously disclosed, the International Centre for Dispute Resolution (the “ICDR”), pursuant to an arbitration claim filed against the Company by EBC, rendered its decision on March 3, 2014 and ordered the Company to pay damages of $2,070,000 plus interest, attorney’s fees and expenses of approximately $740,000 within 30 days of the decision. The Company entered into a Securities Purchase Agreement (the “Common Stock SPA”) with Bipin C. Shah, its Chairman and Chief Executive Officer, and C. Nicholas Antich, the President of JetPay Payroll Services (aka AD Computer Corporation), a wholly owned subsidiary of the Company. Mr. Shah and Mr. Antich agreed to purchase an aggregate of 333,333 shares of the Company’s common stock at a purchase price of $3.00 per share, for an aggregate of $1.0 million. Additionally, on April 14, 2014, the Company issued 4,667 shares of Series A Convertible Preferred Stock to Flexpoint for an aggregate of $1.4 million.