Worldline and Equens are getting married. Equens is a prominent European payment services provider, headquartered in Utrecht, Netherlands, with €305 million 2015 revenue. Equens Worldline Company will become the largest pan-European financial processor, targeting 2016 revenue of € 700 million and OMDA of € 120 million, managing approximatively 100 million payment cards and employing 3,000 experts in payment.
Higher competition, stringent regulations and the possibility of adverse outcomes of the ongoing litigations raise both operational and financial risks for Visa going forward. Nevertheless, Zacks Investment Research notes a strong network of merchants and updated technology should drive growth.
TSYS racks up record revenues in the second quarter. In the North America segment, TSYS reported the largest quarter of transaction volume in history at 2.7 billion. In the NetSpend segment revenue rose 11.4% to $116.8 million.
TSYS announced Philip W. Tomlinson decided to retire as CEO. In his place, M. Troy Woods has been elected by the TSYS board of directors as president, CEO, effective July 31, 2014. Tomlinson will continue to serve as executive chairman of the board of TSYS until the 2015 Annual Shareholders’ Meeting. Woods started his career at Columbus Bank and Trust Company in 1970, working part time in the bankcard department and eventually becoming a vice president. He left the company in 1977 to become senior vice president of consumer lending for AmSouth Bank in Birmingham, Ala. Woods rejoined TSYS in 1987 and directed the company’s international expansion, strategic planning, major client negotiations and the company’s launch of TS2. Most recently, he guided the company’s diversification strategy into faster growing areas of payments as TSYS moved beyond its roots as a third-party processor for bank issuers and merchant acquirers.
TSYS announced Vietnam Eximbank begun to deploy fingerprint authentication technology for over-the-counter or ATM transactions. Vietnam Eximbank is one of the first banks in Vietnam to apply this technology that enables customers to make a transaction without having the physical card, ID, phone or card number present for identification, and uses only fingerprint verification when performing transactions at the counter or at the ATM. Vietnam Eximbank licenses TSYS’ PRIME single-platform payment processing solution to manage its issuing, acquiring and payment acceptance services. Vietnam Eximbank is planning to extend the biometric solution to point-of-sale networks where fingerprints can be used instead of ID and payment cards. It plans to make these types of transactions common across Vietnam by working with other banks in the country to build acceptance of its fingerprint authentication solution as the de facto standard deployed across the national switch.
Paymetric announced that Gil Friedman as its new CFO, bringing to the role more than 17 years of senior financial experience. He spent five years with NexTraq, a Francisco Partners company, where he was Executive Vice President and CFO and led the sale of the company to Fleetcor Technologies in late 2013. His background also includes senior level roles with Amdocs and Polycom. Additionally, Friedman’s career experience includes a $55M IPO and eight M&A transactions ranging from $8M to $350M. Paymetric’s end-to-end offering combines proven expertise in payment processes with best-in-class ERP integration solutions to improve return on ePayment card acceptance, reduce barriers and scope of PCI compliance, and lower the total cost of ownership for payment processing.
Vietnam Export Import Commercial Joint Stock Bank (Eximbank) and JCB International Co., Ltd. (JCBI) have launched Eximbank – JCB Credit Card in order to diversify the products to meet various demands of customers. With today’s launch event of Eximbank and JCBI, Eximbank will join the member of issuing international card bearing JCB brand in Vietnam. Cardmembers are also entitled to enjoy many privileges upon card issuance, such as: Waiver of first-year annual fee for primary card and supplementary card, receive 300,000VND cashback for the cardmembers who spend over 1,000,000 VND and travel to Japan for a cardmember who spends the most from today to 11/03/2014.
The Shareholders’ Meetings of SIA and of SiNSYS have approved the transnational merger through incorporation of Belgian subsidiary SiNSYS into SIA, thereby completing the process of integration of the two companies, aimed at further consolidating the Group’s international coverage and achieving greater operational efficiency with consequent economic advantages. The operation, effective from the beginning of 2013, does not entail any modification to the composition of the Board of Directors of SIA and provides for the cancellation without exchange of all the shares representing the entire corporate stock of SiNSYS, since SIA already possessed 100% of the stock following the acquisition from Atos Worldline of 49% in July 2012. The activities of SiNSYS, specializing in the management of payment transactions with international debit and credit cards with over 1 billion operations annually, around 30 million cards and 700,000 merchants in 12 European countries, will therefore be continued by SIA.
USA Technologies, a leader of wireless, cashless payment and M2M telemetry solutions for self-serve, small-ticket retailing industries, sent a letter to shareholders providing additional insight on dissident shareholder Bradley Tirpak, as well as the destruction of shareholder value at Direct Insite Corp., after a group of shareholders, including Tirpak, took control of the board. The…
IJJ Corporation sent the following announcement: the On-line Shopping Cart is using Bank of America for its Merchant Processing Services. Bank of America Merchant Services enables payment solutions where and how our customers want to pay: credit cards, debit cards, electronic checks, gift cards, and other payment options. Becoming a Bank of America Credit Card…
Network International (NI) independent payment solutions launched instant credit card issuance services in the region and forged a partnership agreement with The Group to provide third-party processing of credit card products to The Group and its clients. The Group has more than 20 years experience in financial activities and its annual transaction volume exceeds 62 billion Qatari Riyals. NI will also provide The Group with an instant card issuing solution, allowing The Group to approve and issue credit cards instantly for its high net worth individual clients in less than five minutes. NI’s state-of-the-art instant credit card issuance solution is integrated with The Group’s front end system and the instant issuance can be performed with the highest standards of security.
Al Baraka Islamic Bank continued to perform throughout 1H/11, posting a total operating income up 57.97% and net operating income by 48.94% from the year ago period. Meanwhile, total assets increased by 8.46%, loan and investment portfolio by 13.78% and total deposits by 9% as at the end of June 2011 compared to the end of December 2010. There was net income of BD 1.28 million during the first half of 2011 compared to a loss of BD 96 thousand during the first half of 2010. This reflects an improvement in the total income of the bank which amounted to BD 8.4 million compared to BD 5.32 million during the first half of 2010, an increase of 57.97%. After deducting operating expenses, net operating income amounted to BD 954 thousand, an increase of 48.94% over the first half of 2010. The improvement in the bank’s profits reflects an increase the bank’s business both in Bahrain and Pakistan, improvement in the quality of income-generating assets as evidenced by a decline in the volume of non- performing assets and a higher income from foreign trade financing and arrangement of new financing deals.