MasterCard has announced the appointment of Paul Trueman as Head of Marketing for the UK and Ireland Division. Most recently Group Marketing Director UK and Ireland for LG Electronics, overseeing corporate brand and product marketing across five divisions, Trueman previously spent 14 years in the FMCG sector working for Cadbury Schweppes and Mars for marketing and innovation. He holds a B.S. in Mechanical Engineering.
Bottomline Technologies collaborative payment solutions has acquired UK-based Direct Debit Limited (DDL) payments automation software for direct debits for corporations, banks, financial institutions and government organizations. This improves inbound cash flow and reduces days sales outstanding. This also expands Bottomline’s transaction banking portfolio and allows banks to offer white-labeled receivables management solutions to their corporate customers. Bottomline helps banks differentiate their portfolio by offering transaction banking solutions to their customers, thereby enhancing relationships, driving transaction revenues and increasing profitability.
Wireless cashless payment processor USA Technologies’ “ePort G7” has been successfully launched, with orders for 8,000 terminals and hardware sales estimated to be $3.5 million. The ePort G7 provides a wireless, cashless transaction solution for vending machines that combines traditional mag-stripe and RF payment capabilities with the ability to accept Gift, Stored Value and Loyalty programs. The G7 operates with MasterCard’s PayPass, American Express’ ExpressPay, Visa’s Contactless, Chase Bank’s Blink, and Discover’s Network Zip Contactless system. The G7 also has the capability to execute remote, ‘over the air’, software updates via the USALive Network, allowing ePort customers to upgrade capabilities and leverage new services within thousands of locations in a rapid, cost effective and efficient manner.
USA Technologies has launched the “ePort Generation Seven.” The Company’s G-6 was the first device to provide a cashless transaction solution for vending machines that integrated new radio frequency contactless card capability with the traditional swipe card process. The G7 provides these same benefits plus important new features to their customers at a new, lower price. USA Technologies’ new G7 accepts both traditional magnetic stripe credit cards and credit cards with tap and go technology. Some of the G7’s new features include all new prepaid, gift, loyalty, promotional, and NFC capabilities. “G-7” also has the ability to accept contactless and NFC based electronic coupons-which can be redeemed at the vending machine for instant rewards, discounts or points.
PA-based USA Technologies reports it has signed a new contract with MasterCard for 4,000 “e-Port G6” cashless transaction terminals, the fourth “e-Port” agreement with MasterCard in 18 months. USA has seen record revenue of $3,355,656 for the fiscal first quarter ended September 30, 2007, an increase of 67% over the corresponding quarter in fiscal 2007 ; e-PortÂ® revenue (equipment sales, activation fees, license and transaction processing fees) of $2.3 million for fiscal 2008 first quarter, an increase of 156% over the same period in fiscal 2007; 1.8 million transactions processed in t USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. The quarter ended September 30, 2007, totaling $7.3 million, compared with 650,000 transactions totaling $4.3 million during the same quarter in fiscal 2007. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries.
MasterCard’s “PayPass” continues to exert leadership and momentum in the global contactless payment arena. Over the past twelve months the number of “PayPass” cards and devices has soared by 60%, rising to 16 million at mid-year. This month in the U.S., Harvard University Employees CU became the first credit union to offer “PayPass”; PETCO Animal Supplies announced it will accept “PayPass” in all of its 900 stores; MO-based Central Bancompany became the first community bank holding company to issue “PayPass” cards; and Einstein Noah Restaurant Group, Einstein Brother’s Bagels and Noah’s Bagels, announced that they will begin accepting contactless payments at their over 400 locations. Last month, MasterCard and VeriFone announced that New York City taxis will begin accepting “PayPass,” with more than 5,000 NYC taxis anticipated to accept PayPass by December and MasterCard and USA Technologies announced the installation of a record number of cashless payment terminals, up to 7,500 into Coca-Cola vending machines in several markets nationwide. Internationally, “PayPass” trials and roll-outs are currently underway in 18 countries, including Australia, Canada, France, Indonesia, Italy, Japan, Korea, Lebanon, Malaysia, Mexico, the Philippines, Spain, Switzerland, Taiwan, Thailand, Turkey, the United Arab Emirates, and the U.K.
Six top vending companies are installing USA Technologies’ “e-Port” cashless payment technology on their vending machines to accept MasterCard “PayPass” cards and devices. North County Vending, Five Star Food Service, A & B Vending, First Class Vending, Mid-Atlantic Vending, and PGI Services are participating. These machines are part of the deployment of 5,000 “PayPass”- and cashless- enabled vending machines announced late last year. The latest rollouts follow “e-Port G6” deployments by Coca-Cola Bottling Company United, the Philadelphia Coca-Cola Bottling Company, the Great-Plains Coca-Cola Bottling Company, and Cadbury Schweppes Americas Beverages. There are nearly 13 million “PayPass” cards and devices issued globally, and “PayPass” is currently accepted globally at 46,000 merchant locations.
USA Technologies has launched “e-Port Connect” which wirelessly enables self service terminals to accept cashless payments, handles all elements of the transaction processing and allows customers to monitor and manage their terminals online. USA Technologies recently announced the nationwide deployment of 6000 devices with MasterCard, Cadbury Schweppes and several Coca-Cola bottlers connected to the e-Port Connect Service. A recent study revealed North American consumers spent more than $475 billion at self-checkout lanes, ticketing kiosks and other self-service POS locations in 2006. Expenditures at these types of self-service kiosks are expected to rise 33 percent in 2007. Additionally, The Ohio Turnpike Commission announced it was installing USA Technologies e-Port payment solution at highway exit tolls to accept MasterCard’s PayPass contactless payment system. The US Center for Business Planning estimates there are 3,500 tollbooths in the US conducting four billion transactions annually. USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management.
PA-based USA Technologies reported fourth quarter revenues of $2.1 million, a 2.7% increase over 4Q/05. During the quarter, revenues from the Company’s “e-Port” were $1.2 million, an increase of 105% over the prior year quarter. The “e-Port” growth was due to an increase in sales of the Company’s new “e-Port G-6,” as well as accelerating growth in license and transaction fees as the company adds more connections to its “USA Live” network. The Company said its growing relationship with MasterCard is helping it rapidly deploy “e-Ports” in cities across the nation, and penetrate exciting new and emerging markets. Also, during 4Q/06 the Company completed a contract with MasterCard for rapid deployment of an additional 5,000 “G6 e-Ports” in vending machines, POS terminals and kiosks in another 12 U.S. cities. For details on USAT’s fourth quarter performance visit CardData ([www.carddata.com]).
PA-based USA Technologies has redeemed “Convertible Senior Notes,” having a face value of $4.3 million, to strengthen its balance sheet. After repayment of the notes, the company reports that as of December 31, 2006, it had approximately $8.4 million cash on hand, and roughly $20 million in shareholder equity.
Cadbury Schweppes, USA Technologies, and MasterCard announced that Cadbury Schweppes vending machines will be among the 5,000 vending machines to be equipped with “PayPass”. To use the e-Port cashless payment technology, consumers simply tap their MasterCard PayPass-enabled credit card or device on the e-Port terminal. Within seconds, the terminal will flash a light and produce a tone signaling the transaction is complete. As with all MasterCard PayPass transactions under $25, no signature will be required. MasterCard Worldwide advances global commerce by providing a critical economic link between financial institutions, businesses, cardholders and merchants worldwide. Cadbury Schweppes Americas Beverages (CSAB) is one of the largest producers of soft drinks and premium beverages in the Americas. USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management.
Harvey Golub, former Chairman and CEO of American Express, has been named Chairman of Campbell’s board. Mr. Golub has been a director of Campbell since 1996 and was Chairman and CEO of American Expressway Company from 1993-2001. He was also a former senior partner at McKinsey & Co. He is currently serving as a director of Dow Jones & Co and chair of TH Lee Putnam Ventures. Campbell Company also announced the nomination of John F. Brock for election to the Board of Directors. Brock spent 20 years at Cadbury Schweppes PLC where he served as COO of the company. He was named CEO of Interbrew in 2003. Campbell Soup Company manufactures and markets high quality soup, sauce, beverage, biscuit, confectionery, and prepared food products. It is 135 years old and has over $7 billion in annual sales.