Western Union 2Q/11 Revenue Up 7% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Western Union posted a revenue of $1.4 billion, up 7% from the year ago quarter and an operating margin of 25.7% compared to 24.4%, also in the year ago period. Year-to-date cash provided by operating activities of $506 million while restructuring cost $9 million thanks to organizational changes and other. Consumer-to-consumer…

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Regions Net Charge-Offs Improve 9% in 2Q/11

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Regions Financial Corporation reported financial results for the quarter ending June 30, 2011 with a net revenue of $447 million to the highest level in nearly 3 years. Meanwhile, there was $620 million of criticized loans and net charge-offs totaled $548 million, however excluding net charge-offs associated with sales and transfers…

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CITI OFFERS CREDIT WITH SINGLE APR AND NO LATE FEES

Responding to consumers’ desire for a simplified credit experience, Citi Cards is introducing its “Simplicity Card,” boasting a single rate across all purchases, balance transfers and cash advances, no late fees and no penalty rate. Designed based on direct feedback from clients on what they want and need in a credit card, the Citi Simplicity Card also offers customers No Waiting for Live Help; lets users customize their payment due date and set e-mail and text payment notification alerts based on their preferences and needs; and charges No Annual Fee. This is in response to findings showing over 50% of consumers paid a bill late in their lifetime, mostly for having forgotten the due date. It also lets users adjust the payment due date to better suit their needs as well as the option to enroll in Citi’s alerting services, which send a reminder of upcoming payment due dates via email or a message to their mobile phone.

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USA Technologies Addresses Shareholders on Performance

USA Technologies issued a letter to its shareholders reflecting on having achieved record revenues for the quarter ended June 30, 2011 and record revenues from license and transaction fees, cashless transactions processed, and record new customers. Moreover, USATech unaudited total revenue for the quarter totaled approximately $22.9 million, an increase of 45% compared to $15.8 million a year earlier, compared to the fiscal year ended June 30, 2006 figure of a mere $6.4 million. Additionally, the unaudited June 30, 2011 quarter total revenue is up approximately 53% from the approximately $4.5 million in total revenue earned for the same quarter a year ago and doubled the 1,050 customer clients from 2010.

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Electronic Payment Exchange Visa-Certified in P2P Payments

Electronic Payment Exchange (EPX) full-service payment processor has embarked on the P2P payments market, having completed the Visa certification for processing Visa Personal Payment transactions, through which EPX can now facilitate person-to-person payments. Visa Personal Payment transactions eliminate the inefficiencies of cash and checks for payments between individuals by enabling Visa cardholders to send person-to-person payments to a recipient’s Visa account or personal bank account. Through Visa and participating financial institutions, cardholders and the financial institutions’ customers can direct payment from their respective Visa accounts or personal bank accounts via an Internet-connected device or mobile phone.

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Ink from Chase Unveils Accelerated Rewards Program

Ink from Chase business card portfolio launched its new rewards program and enhancements to the Ink Classic and the Ink Cash cards. The rewards program offers new customers rapid accumulation of cash or points customized for the small business owner, featuring five points or five percent cash back per dollar spent on office supplies, telecommunication services and cable services. With “Ink Classic,” the new points program will allow customers to earn points quicker with five points per dollar spent on the first $25,000 in annual spend on office supplies, telecommunication services and cable services; two points per dollar spent on the first $25,000 in annual spend on fuel and lodging; and one point per dollar spent on all other card purchases, with no limits. Meanwhile, “Ink Cash” will allow customers to earn cash back as with five percent cash back on the first $25,000 in spend annually on office supplies, telecommunication services and cable services; 2% cash back on the first $25,000 in spend annually on fuel and dining; and 1% cash back on all other card purchases, with no limits.

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Avant-Garde Implements Hypercom Mobile Solutions

Avant-Garde Marketing Solutions ISO is now marketing Hypercom’s “Optimum M4230” multi-application mobile payment terminal and Mobile Network service to its thousands of merchant customers nationwide. The “M4230” mobile terminal with Hypercom’s Mobile Network is being marketed as an affordable bundled solution that increases businesses’ revenue by enabling them to extend their payment acceptance reach beyond fixed locations. The Mobile Network service features simple, usage-based billing with no roaming charges, no additional transaction fees, fast and simple browser-based SIM activation, and 24/7 technical support from a single, secure, reliable source.

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appMobi Addresses E-Commerce Security, Removes Credit Card Info

appMobi unveiled its secure cloudKey authentication technology and announced cloudKey’s immediate integration into appMobi’s 1Touch “single touch” payment system. 1Touch with cloudKey is ready for use by Web and mobile app developers who seek to offer their users a highly secure and streamlined e-commerce experience. The cloudKey technology takes a fresh approach to secure online commerce in which the user’s credit card information is stored only on the user’s device. The 1Touch payment system also offers users a streamlined way to transact mobile and online purchases with a single touch. Eliminating credit card re-entry is the best way to increase online sales conversions. appMobi’s 1Touch payment system leverages the cloudKey authentication system to provide a more secure, non-infringing alternative to the Amazon 1Click patent.

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Merchant Warehouse Offers Streamlined POS Integration

Merchant Warehouse merchant accounts and credit card processing solutions launched its “MerchantWARE 4.0” and integrated it with ID TECH into the MerchantWARE suite of products. The “MerchantWARE 4.0” provides a streamlined integration process for POS developers and also includes complete support of ID TECH standard and enhanced versions of their SL Secure Line of products. MerchantWARE now supports ID TECH’s SecureKey M130 and SecureMag products, as well as Triple Data Encryption Standard (TDES) and Advanced Encryption Standard (AES) methods. MerchantWARE 4.0 and its integration with ID TECH will be demonstrated at Merchant Warehouse’s booth, No. 207, at the RSPA RetailNow Conference, July 24-27 in Orlando, Fla.

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Cardtronics Acquires EDC ATM Business

Cardtronics USA has completed the acquisition of EDC ATM Subsidiary and Efmark Deployment I for a cash purchase price of $145 million. Subsequently, Cardtronics will now add approximately 3,700 ATMs in high-traffic U.S. retail locations and ATM branding contracts and now has ATM branding relationships with eight of the 15 largest U.S. banks. The Company also plans to update its financial guidance for 2011 to include the expected contribution of the EDC business when it issues its second quarter 2011 financial results, for which the information is provided below. Cardtronics operates over 37,200 ATMs in the United States, the United Kingdom, Mexico, and the Caribbean.

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Northern Lights Federal Credit Union Adds IronKey Security

Northern Lights Federal Credit Union (NLFCU) of Vermont is set to issue its members IronKey Trusted Access for Banking secure browsing solution that prevents identity theft, payments fraud and online banking account takeover. Northern Lights Credit Union is one of the first to offer Trusted Bookmarks, a new feature of Trusted Access for Banking allowing members to safely access popular websites using a ‘white list’ managed by the credit union. With Trusted Access, customers know they are accessing an authentic site and their transactions are not being monitored or tampered with by crimeware. Northern Lights worked with the CEO of the CUSAG, LLC and industry expert on the IronKey implementation. Trusted Access adheres to a tougher new set of guidelines from the Federal Financial Institutions Examinations Council (FFIEC) – whose members include the National Credit Union Administration (NCUA) – for securing online banking and money transfers.

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