Arroweye Exec
Chicago-based Arroweye Solutions has ankled Betty Mitchell as vice president of client engagement. She is responsible for leading a team of Arroweye client partners who implement, manage, and grow client programs.
Evolution1 Names New Board Member
Evolution1 electronic payment, on-premise and cloud computing healthcare solution appointed Robert J. Sheehy to its board of directors. Bringing with him extensive experience and expertise, Sheehy served with UnitedHealth Group for more than 20 years, from 1986 to 2008, becoming CEO of UnitedHealthcare in 2000. Sheehy held various multi-state and single-state responsibilities in the Midwest and led all of United’s acquisitions that were health plan focused during this period of the company’s growth. In 1998, Sheehy was named president and chief operating officer of UnitedHealthcare, and after serving as CEO for seven years, he became senior vice president of UnitedHealth Group in 2007.
Trustwave Releases Threat Management Solution
Trustwave information security and compliance solutions, has significantly extended the breadth and value of its “Unified Threat Management” (UTM) solution with the addition of new services that provide critical network protection and address regulatory compliance requirements. Trustwave’s UTM now includes network access control (NAC), vulnerability scanning and log management features. Consolidating these services in a single platform allows Trustwave customers to reduce IT spending by meeting security objectives and compliance requirements with the same technology. Trustwave offers the UTM as a managed service, freeing up IT staff to focus on other critical activities and providing additional cost savings. It provides Fully Integrated NAC to detect unauthorized devices and network services for wired and wireless devices that connect to the network; Vulnerability Scanning to report on vulnerabilities for target devices on the network interior to enable proactive remediation, helping to minimize the risk of compromise; and Log Management to analyze aggregated log data for anomalies helping with early detection of malicious or unauthorized activity.
Denarii Systems Names New Chief Executive Officer
Juan Santaella has been named Denarii Systems’ CEO. Santaella was the Director of Debit Products for MasterCard’s Latin America and Caribbean Region (LAC) and has extensive experience in the stored value space, having served as Vice President of Business Development with the former WildCard Systems, a prepaid processor now part of Fidelity National Information Services. He was also the CEO of CashX, had an accomplishing career at Visa International, where he led the Latin America regional debit and prepaid development efforts, launching Visa Electron, and other pre-paid products, such as Visa Cash and Visa Travel Money. He holds an MBA at Babson College, and is a graduate of the University of Miami.
Giftango Launches Virtual Gift Card mDevelopment
Giftango Corporation digital virtual gift cards has released its mobile developer’s toolkit to allow mobile developers to issue national brand virtual gift cards from within their own mobile applications. Allowing merchants to set clear standards the mobile development community can follow, Giftango’s Mobile platform allows merchants to ensure the mobile community follows established guidelines to avoid disparate developer models and applications which may not fit their respective enterprise standards. Giftango also helps merchants manage the appropriate distribution of these applications via its mobile platform. Giftango acts as the plumbing between the merchants and the variety of mobile distribution models in the marketplace.
Wildcard Launches Free Gift Card iPhone App
Smartphone application developer Wildcard Network has launched the iPhone”Wildcard” free app for gift cards.
The Wildcard app enables users to add plastic gift cards to Wildcard, check balances or call customer service with just a tap.
At the register, the app user double-taps to redeem via card’s barcode or the
card number and PIN. Supported retailers at launch include 1-800-Flowers.com, American
Airlines, Bass Pro Shops, BedandBreakfast.com, BikeShop.com, Cabela’s,
Callaway Golf, Club Tee Time, Crutchfield, Lands’ End, Golfsmith, Great
Spa Escapes, Papa John’s, Nike, REI, Travelocity Incentives, Wine.com,
and Zappos.com.
Holiday Retail Sales to Dip for a 2nd Year
Holiday retail sales this year will likely decline 1.0% from the year-ago period, which saw a -2.8% Y/Y decline, representing the first back-to-back decline in holiday retail sales in the last four decades. Availability of personal credit is a significant factor in these findings, with credit card companies down on raising rates/fees and even canceling cards in reaction to recent credit card legislation. Consumer credit fell by a record $21.6 billion in July to $2.5 trillion. Other major factors impacting 2009 holiday retail performance, according to Archstone Consulting management strategy and operations consultancy, include the savings rate, which dipped slightly to 4.2% from 4.5% in June, but it is still high compared to a Y/Y 2.6% savings rate; the US unemployment rate, which was at 9.7% in August having dropped from 61.9% in September 2008; and real wages having plummeted 4.1% in August Y/Y.
Archstone notes that with 7 million fewer people employed in the U.S this holiday season compared to 2008, many consumers will remain under considerable financial stress and will stay frugal.
RETAIL SALES FORECAST
2005: +4.0%
2006: +2.5%
2007: +3.0%
2008: -2.8%
2009: -1.0%
Source: Archstone Consulting
eCommLink Prepares to Go International
Las Vegas-based eCommLink has hired the former president of mCash as
SVP/Sales and Business Development. Paul Smith also formerly served in
an executive capacity at Green Dot and Wildcard Systems. The prepaid
card specialist also promoted Ennio Ponzetto to CEO and Victor Newsom to
COO. Additionally, Raymond Lu has been promoted to SVP/Engineering and
named chairman of the eCommLink Technology Steering Committee. The
Company is positioning itself for worldwide expansion with a new global
initiative. As part of this new initiative, T. Jack Williams has been
named Corporate Development Officer. eCommLink supports prepaid debit
programs, including general spend, payroll, teen, gift, travel,
government and loyalty cards.
eFunds’ 4Q/06 Net Income Soars by 72%
AZ-based eFunds reports that fourth quarter net revenue increased 2% to $141 million, compared to the same quarter of 2005. Fourth quarter net income grew 72% to $20 million, compared to 4Q/05. However, the Company posted a 3% year-on-year decline in its U.S. Payments segment with $75.4 million in revenue. The International segment soared by 26% to $21.0 million but the U.S. Risk Management segment was flat at $44.6 million. eFunds also reported that it now expects full year 2007 net revenues to increase 7% to 11% over 2006 net revenues. For complete details on eFunds’ fourth quarter performance, visit CardData ([www.carddata.com][1]).
eFunds Revenue Historical
4Q/04: $130.5 million
1Q/05: $114.2 million
2Q/05: $116.3 million
3Q/05: $133.2 million
4Q/05: $138.0 million
1Q/06: $139.7 million
2Q/06: $132.4 million
3Q/06: $139.4 million
4Q/06: $140.9 million
Source: CardData (wwww.carddata.com)
[1]: http://www.carddata.com
Utix Group and eFunds Extend Prepaid Deal
MA-based Utix Group has renewed its long standing strategic alliance with eFunds Prepaid Solutions, formerly WildCard Systems, to develop more experiential prepaid products as well as cooperative marketing and distribution opportunities. The Utix platform enables merchants to redeem Utix tickets by simply swiping them through their existing credit card point-of-sale machine. A one-time use magnetic ticket offers the same credibility and flexibility of a gift card and is designed to capture business and sales for merchants, hobby sports, major brands and event organizers who have been traditionally limited to a cash value gift card or paper gift certificates and tickets. Utix issues its proprietary technology and co-branded prepaid experience products, including Golf, Bowling, Ski, Spa and Movie Tickets to the business-to-business industry and retail marketplace.
E-monee GETS to Target Cruise Line Biz
FL-based E-monee is expanding its relationship with WildCard Systems to bring its “GETS” stored-value products to the cruise line industry. In the first initiative under the agreement, WildCard Systems will provide a secure technology and services platform to help power the new E-monee Crew Pay program slated towards the maritime industry. E-Monee is a Florida based company with its core product being a hybrid which integrates technology and telecommunications with banking. WildCard Systems is the global solutions leader in turnkey host based prepaid cards and custom stored-value products.
Card Express Names a New VP/Marketing
California-based Card Express has hired Karen Glessner, former Product Management Leader of the Corporate Card at GE Corporate Payment Services, as VP/Marketing. Glessner is responsible for all of CardEx’s marketing efforts including development and execution of the international marketing plan, product development, advertising, public relations, channel marketing and events planning. Karen has over 18 years of marketing and product management experience in financial services and technology. Card Express is a processor of prepaid debit card products and services utilizing the VISA and MasterCard networks.