CardWeb.com’s CardData database of Company Profiles today features HyTrust.
CardWeb.com’s CardData database of Company Profiles today features Perks.com.
ICICI Bank has teamed with Tech Mahindra to launch its ‘Tap n Pay’ contactless payment service in India. The new Near Field Communications (NFC) feature is a prepaid account available to customers of any bank by simply registering for it and transferring money online from any bank account. It requires no documentation or branch visit.
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Pierre J. DuPré, the Chief Information Officer of JetPay.
PA-based JetPay has ankled Pierre (Pete) J. DuPré as Chief Information Officer of the Company. DuPré brings to JetPay a 30 year career in IT, software engineering and product development.
Usually a solid performer, Diebold felt a 4Q/10 loss from continuing operations of ($119.9) million from the $7.9 million gained in the year ago period. Revenue was up though by 9%, posting a solid $791.0 million from 4Q/09 thanks to global orders having increased 7%, a growth of 12% since 4Q/09. Every region of the world was good to Diebold throughout the quarter with revenue growth from 3% in EMEA on the low end to 19% in Latin America. Performance was thanks to financial self-service orders in North America having grown in the recovery and a growing demand for deposit automation solutions. While Latin America and Asia are reliable markets for the Company, Europe continues to prove a challenge. Diebold is seeking to tap the market and re-engineering its infrastructure to free up more resources, after experiencing less than 3% on the Continent. Meanwhile, total operating expenses as a percentage of revenue for the quarter was 41.9%, an increase of 21.5% Y/Y, and included a net $0.3 million of restructuring charges and $9.2 million in restructuring charges thanks to U.S. workforce reduction. For the full-year 2010 operating loss was (0.1%) of revenue, down 5.6% from the year ago period while non-GAAP operating profit was 6.9%, up 0.7% year-over-year.
Global credit service provider CRIF has opened of its North American headquarters
office in Atlanta, Georgia. The office will serve as the operational hub for the
CRIF Lending Solutions family of companies that includes Teres,
Magnum, FLS Services, APPRO CRIF and Aimbridge. The companies will each
maintain their respective regional offices. Hundreds of the nationâs top financial institutions and lending
organizations now rely on loan origination technology, outsourced loan
processing services, and analytics solutions offered by CRIF. Key
product and service offerings include, loan origination, outsourced loan processing and analytics â
CRIF is a global company specializing in the development and management
of credit reporting, business information and decision support systems.
Variety Wholesalers (VW) has successfully completed the roll-out of
RTC’s “StoreMS POS” solution on 1,300 IBM
registers in a total of 287 locations including 116 Roses stores and 171
Maxway/Super 10 stores. The implementation included not only “StoreMS
POS”, but also RTC’s
HTP-Link iSeries Communication solution for polling stores and ISD’s
Transaction Management software. RTC’s Consulting Services Group
performed the integration between “StoreMS POS” and JDA’s “Merchandise
Management System”. With the installation now complete, “StoreMS POS”
improved VW’s throughput at checkout, enhanced their customer service,
and streamlined their store operations. This investment provides VW with
a solid platform on which they can continue to build upon in the future.
The successful rollout at Variety Wholesalers is an excellent example of
RTC’s ability to deliver software and technology with advanced features
across a large organization efficiently, cost effectively and within the
Diebold has named Charles E. Ducey to EVP, North America operations.
Ducey will lead the company’s financial self-service and security
operations in the region, including all related sales, customer support
and services infrastructure. He will also lead Diebold’s growing
Integrated Services business and will continue to oversee global
software development, product management and marketing. Ducey joined Diebold in 1978 and has held various field and home office
positions, including the position of vice president, service operations
and finance for the North American Sales and Service division. He has
held other numerous leadership positions for Diebold in the areas of
software, services and finance before being named to his most recent
role as senior vice president, global development and services. Ducey
received a bachelor’s degree in accounting from The University of Akron
in Ohio and a master’s degree in business administration from
Baldwin-Wallace College, Berea, Ohio.
Cashless technology provider USA Technologies has appointed Steven D. Barnhart, former CEO of Orbitz, and Jack E. Price, previously CEO of NovaRay
to its Board of Directors. Barnhart has successfully led technology and consumer product
companies through rapid growth and change. Most recently, he was CEO and President of Orbitz Worldwide,
from 2007-2009, after holding other executive positions since 2003, when
he joined the company. Barnhart has also been appointed to serve as a member of
the Audit Committee of the Board of Directors of USA Technologies.
Price has had a successful record of building and growing
businesses in Fortune 100 domestic and international markets. He has
been recognized for his leadership in operations, sales, marketing,
acquisitions, acquisition integration and organizational and process
re-engineering. Most recently he was President and CEO of NovaRay
Medical Inc., from 2007-2009. Price has also been appointed to serve as a member of the
Compensation Committee of the Board of Directors of USA Technologies. Stephen W.
McHugh, a former Director, has resigned from the Board.
Citigroup reports that losses for its Latin America credit card business jumped to $80 million in the second quarter, driven by deterioration in its Mexico credit card portfolio. Card net credit loss rates increased from 11.4% in the second quarter of 2008 to 16.2% in the LAC region. In the EMEA region credit card losses were $34 million, compared to an $8 million profit in first quarter and a $31 million profit in the year ago quarter. Higher credit costs reflected continued credit deterioration, particularly in UAE, Turkey, Poland and Russia.
Asia, Citi’s only profitable region, posted only $6 million in second quarter card profits, compared to $28 million in the prior quarter and $103 million for 2Q/08. Card net credit loss rate increased to 6.0% from 3.4% in the prior year period for Asia. Credit deterioration was particularly apparent in the card portfolios in India and Korea. For complete details on Citi’s second quarter performance visit CardData (www.carddata.com).
Citibank reported a $211 million second quarter loss for its North American cards
division as revenues declined 27% year-on-year to $2.4 billion. Global accounts
were down 9% to 55.8 million and in North America open accounts for Citi-branded
credit cards declined 17% to 25 million. Second quarter outstandings for North
America were down 2% to $81.9 billion, compared to the year ago quarter. Purchase
volume dropped 18% from 2Q/08 to $42.4 billion. Managed charge-offs hit 10.25% for
the second quarter, compared to 8.42% in the first quarter and 5.54% in the second
quarter of last year. Delinquency (90+ days) edged down to 2.71% for 2Q/09,
compared to 2.95% in the prior quarter and 1.96% one-year ago. Overall, the card
managed net interest margin increased to 10.51% from 8.12% in the second quarter of
2008. For complete details on Citi’s second quarter performance visit carddata.com.
2Q/08: 61.6 million
3Q/08: 61.1 million
4Q/08: 57.7 million
1Q/09: 57.2 million
2Q/09: 55.8 million
Source: CardData (www.carddata.com)