Toronto-based GoldMoney has ankled Katie Sokalsky, CPA, CA, as Chief Financial Officer, and Kate Millington as General Counsel of GoldMoney. GoldMoney also completes the previously planned addition of James Turk and Hector Fleming to the board of directors.
First Data’s continued losses, laden with debt and milked by KKR minions makes its upcoming IPO for fools. The Company, valued at $40 billion, managed to lose $26 million in the second quarter which it blames on foreign currencies – total mismanagement and lack of foresight.
Conferma has inked Fox World Travel to provide clients the ability to generate on-demand single use virtual credit card numbers (VCNs). Virtual credit cards offer secure payment for travelers without corporate cards and replace traditional hotel direct bill accounts.
EVERTEC reported consolidated results for the quarter ended March 31, 2012. “We are pleased to report continued strong consolidated Adjusted EBITDA growth and revenue increases across our business lines,” said Peter Harrington, EVERTEC’s President and Chief Executive Officer. “Our first quarter 2012 results demonstrate both the increased penetration of our products and services within new…
InComm prepaid product and transaction services is set to remove all Vanilla Visa Gift Card and Vanilla MasterCard Gift Card products from retail locations in New Jersey, effective June 30. As a result of modifications made to State of New Jersey’s unclaimed property laws in 2010 designed to fill a budget shortfall, retailers selling gift cards will now have to capture a gift card purchaser’s personal information (which may include name, address and/or zip code) at the point of sale. This information will then be kept by card issuers and is reportable to the state. After two years of inactivity, New Jersey will automatically take the unspent money, even if the card has not expired. InComm will not be able to ensure compliance and has elected to eliminate the Vanilla Visa Gift Card and Vanilla MasterCard Gift Card programs from over 1,500 retail locations in New Jersey.
EVERTEC reported consolidated results for the fourth quarter and the year ended December 31, 2011. Fourth Quarter Highlights Total revenues were $85.6 million, up 4% as compared to the fourth quarter of 2010. Operating costs and expenses, excluding depreciation and amortization and non-recurring expenses, decreased 2%, as compared to the fourth quarter of 2010. Adjusted…
Discover and EVERTEC forged an ATH partnership, allowing participating financial institutions to issue Discover cards for POS signature debit with PIN-based ATH debit cards and signature functionality. This will expand the use of such cards to POS terminals worldwide wherever the Discover and Diners brands are accepted. Customers will be given added convenience because they can use these cards to make online purchases, as well as payments at places like parking terminals, where PIN debit transactions are typically not an option.
Lombard Risk Management, a leading global provider of integrated collateral management and liquidity, regulatory and MIS reporting solutions for the financial services industry, addresses Title VII of Dodd-Frank Act with its Dodd-Frank Act Engine solution. The Lombard Risk Dodd-Frank Act Engine solution is designed to address Title VII “Wall Street transparency and accountability – regulation…
To help combat underreporting, banks and credit card payment providers are now required to report gross annual payments processed by credit or debit cards to both the Internal Revenue Service (IRS) and to merchants on Form 1099-K, “Merchant Card and Third Party Network Payments.” Small business owners may want to evaluate their bookkeeping and accounting practices to ensure there are adequate and effective systems in place to reconcile the information reported by banks and credit card payment providers with their own records. Any discrepancies in reporting should be addressed to ensure that accurate tax returns are filed with the IRS.
Acculynk entered into an agreement with EVERTEC to provide Acculynk’s PIN debit-enabling solution through EVERTEC’s ATH Network, bringing millions of debit card consumers in Puerto Rico the ability to use their PIN-only debit cards for e-commerce. With this, EVERTEC will offer Acculynk’s “PaySecure” Internet PIN debit solution to their participants. This represents a milestone in Acculynk’s strategy to develop Internet PIN debit. The “PaySecure” solution offers an extra layer of security for debit card transactions, helping reduce fraud and charge-backs for financial institutions, while offering attractive margins and opportunities for incremental volume.
A2iA announced its “CheckReader” comprehensive check-processing toolkit is deployed at the First Georgia Community Banking Company in their first completely electronic, enhanced-deposit-automation solution. As a component of CFS DepositWizard ATM, a solution that allows for the image capture of a check-deposit at the ATM instead of the central processing center, A2iA CheckReader seamlessly provides a verification of the check-image quality and usability, as well as performs recognition on all data-points on the check, including CAR (courtesy amount) and LAR (legal amount) mismatch. The “DepositWizard ATM” with A2iA “CheckReader” is a scalable solution that can be deployed in-house or in a hosted environment, accelerating timelines, reducing operating costs and combating fraud at the point of deposit. It allows users to securely connect and automatically process transactions from the deposit automation-enabled ATMs to the financial institutions’ back office, with no human intervention required.
EVERTEC reported 4Q/10 total revenues having increased by $8.1 million, or 12%, to $77.1 million, when compared to $69.0 million in the year ago period. This increase was attributable to transaction processing having increased $2.3 million, or 12%; Merchant Acquiring increased $1.4 million, or 11%; and Business Solutions having increased $4.4 million, or 12%. Meanwhile, adjusted EBITDA for the quarter was $34.9 million, up 8% over the $32.2 million achieved in the same period in 2009 while total operating costs and expenses increased $15.9 million when compared to the same period last year. Total revenues increased by $18.0 million, or 7%, to $285.4 million, when compared to $267.4 million for the same period in 2009. EVERTEC total revenues for the year ended December 31, 2010 increased by $18.0 million, or 7%, to $285.4 million, when compared to $267.4 million for the same period in 2009. This was thanks to the Transaction Processing segment revenues having increased by $3.1 million, or 4%, primarily due to higher volumes and revenue generated from new service offerings; the Merchant Acquiring segment net revenues having increased by $5.8 million, or 12%, mainly due to higher transaction volumes, new customer additions, and selected price increases; and the Business Solutions segment revenues having increased by $9.1 million, or 6%, mostly due to higher volumes and new services provided to certain clients.