Sage Pay payment services has partnered with One iota Facebook and mobile commerce solutions to allow its customers to extend their ecommerce strategy to mobile and social commerce. A recent report by eMarketer claimed that while ecommerce is set to grow at a cumulative rate of 10.3% over the next four years, social commerce is set to grow at a staggering 93.4% over the same period. The same report claimed that by 2015 nearly 16% of all online purchases will be made through social and mobile commerce channels.Details
The Second Cup Cafe has selected MICROS as its exclusive and preferred restaurant technology provider for its nearly 170 locations are installed with the MICROS e7 restaurant point-of-sale (POS) system and mymicros.net restaurant enterprise system. The roll-out will continue with an additional 130 locations over the next few months. Second Cup required an intuitive restaurant POS system that was affordable for the cafes, easy to install to minimize the disruption to business flow, yet customizable to reflect Second Cup’s specific requirements. The MICROS partnership allows Second Cup to facilitate control throughout the enterprise and implement changes in menu items, prices, taxes, and other POS configurations.Details
Heartland Payment Systems announced first quarter revenue of $467 million and an Adjusted Net Income of $8.0 million, compared to a GAAP net income of $14.2 million. Recorded quarterly net revenue was $112.7 million, up 8.5% from 1Q/10 thanks greatly to SME card processing volumes of $15.4 billion, an increase of 7.1% compared to the three months ended March 31, 2010, thanks to increased Network Services and CPOS net revenue, and continued strong growth in non-card operations such as a double-digit increase in payroll revenue.
This was all the culmination of Small and Mid-Sized merchant (SME) transaction processing volume clocking $15.4 billion, up 7.1% from the year ago period, while the total number of transactions processed for Network Services Merchants amounted to 747 million, up 9.0% year-over-year. Also, same store sales were up 3.2%, but the Company incurred approximately $303,000 in costs attributable to the processing system intrusion. Subsequent to these figures, Heartland Payment Systems expects net revenue to increase between 8% and 10% for 2011, guidance which does not include any of the ongoing costs related to the processing system intrusion.Details
Wright Express is continuing its booming revenue, ever-climbing for the past two years. The value-based payment processing company posted 1Q/11 total revenues up 43% to $120.1 million from the year ago period of $83.8 million with a net income of $12.1 million, down from the year ago figure of $18.6 million. Adjusted net income for 1Q/11 increased 23% to $29.2 million from $23.7 million from 1Q/10 thanks in great part to average number of vehicles serviced worldwide totaling around 5.4 million, up 21% on the same time-line.
Additional year-over-year increases show the total fuel transactions processed increased 14% to 70.3 million; payment processing transactions increased 14% to 56.0 million; transaction processing transactions increased 13% to 14.3 million; average expenditure per domestic payment processing transaction increased 25% to $69.83, thanks no doubt to skyrocketing fuel costs by 22% to $3.38 per gallon from $2.76; while total corporate card purchase volume grew 68% to $1.4 billion from $853 million. With this, Wright Express is projecting revenue of around $132-$137 million and adjusted net income in the range of $33 million to $35 million in 2Q/11 and a FY/11 revenue of between $533 million and $553 million with an adjusted net income of nearly $132-$140 million, based on an assumed average U.S. retail fuel price of $3.67 per gallon.Details
MasterCard Advisors SpendingPulse provided summary results for performance of specific U.S. retail industries in April 2011, including luxury, e-Commerce, Apparel, Restaurant and Electronics. Total U.S. Apparel sales recorded their ninth consecutive year‐over‐year gain of 10.4% in April, thanks in large part to this year’s Easter pre‐holiday sales happening throughout April. Among this, family apparel came in at 10.6%, posting the 11th straight positive year‐over‐year growth rate; menswear grew 12.4% and women’s wear was up 7.4%. U.S. e-Commerce was up 19.2%, the category’s 6th straight month of double-digit growth and 21st straight month in positive territory, passing the 15% mark for the second straight month. Electronics online sales, at 9.1% posted their 8th straight month in positive territory.Details
Fundtech global transaction banking solutions posted quarterly revenues of $37.2 million, an 11% increase year-over-year, compared to first quarter revenues of $33.4 million in 2010, and a 2% decrease compared to fourth quarter 2010 revenues of $37.8 million. The Company posted a GAAP net income of $2.4 million, compared with net income of $1.4 million in the first quarter of 2010, and net income of $5.8 million in the fourth quarter of 2010. Fundtech’s adjusted (non-GAAP) net income for the first quarter of 2011 was $3.6 million, compared with $2.5 million in the first quarter of 2010 and $4.6 million in the fourth quarter of 2010. During the first quarter of 2011 Fundtech closed 110 new deals and added 4 new bank customers. The Company subsequently up its 11/FY projections, pegging revenues of between $155 million and $160 million compared to the previous guidance of $154 million to $159 million; financial income of $0.5 million and an annual amortization expenses for the year 2011 will be approximately $1.4 million and that stock-based compensation expenses will be approximately $3.5 million.Details
Cyber-Ark Software global information security provider for protecting and managing critical applications, identities and sensitive information has joined the PCI Security Standards Council as a Participating Organization. This furthers its commitment to enabling enterprise customers to protect cardholder data and make credit card payments more secure by assuming a direct role in the development of evolving PCI Data Security Standard (DSS). Cyber-Ark provides mature Privileged Identity Management and Governed File Transfer technology to address PCI compliance requirements associated with user account management, encryption, and safe exchange and sharing of sensitive information. This development grants Cyber-Ark access to the Council’s latest payment card security standards in order to provide feedback and become part of a growing community that includes more than 600 organizations.Details
The S1 Corporation payments and financial services software solutions announced its 1Q/11 total revenue up 13% to $57.8 million compared with the year ago figure of $51.2 million. Net cash provided by operating activities was $4.1 million in the quarter ended March 31, 2011 compared with $18.1 million in the quarter ended March 31, 2010. During the first quarter of 2011, the Company paid in full the note payable of $5.0 million related to the Company’s corporate headquarters. The Company had cash and cash equivalents of $59.9 million as of March 31, 2011. Revenue backlog, which is discussed in further detail below, in the Company’s Payments and Banking: Large FI segments was $64.3 million as of March 31, 2011, a 57% increase compared to $41.0 million as of March 31, 2010.Details
IronKey is expanding its services offerings to meet growing demand from banks to help combat online banking fraud. The new Online Banking Customer Success organization will deliver services to help institutions prevent account takeovers and differentiate their online banking offerings using IronKey Trusted Access for Banking. The new organization will be headed up by Glenn Cobb, director of professional services, who recently joined IronKey. Previously Cobb served as vice president of information systems for Tompkins Financial Corporation. Prior to that, he served as an IT architect for IBM Global Services for 10 years.Details
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] SIFMA released the following statement from Ken Bentsen, executive vice president, public policy and advocacy, upon passage by the House Agriculture Committee of H.R. 1573, legislation that would extend the effective implementation date for the derivatives-related section of the Dodd-Frank Act. “We believe that the current July 21, 2011 deadline for…Details
Fiserv unveiled its strategy to introduce a true unified managed household (UMH) capability from its “Investment Services” division. The first milestone for the project was achieved in June 2010 when Fiserv acquired AdviceAmerica integrated financial advice solutions while the second is planned for the summer, at which time it will implement a solution to move additional managed account programs”mutual fund advisory (MFA), and exchange-traded (ETF) funds”onto the Unified Managed Account (UMA) platform from Fiserv. Multi-sleeve accounts will continue to work as they do today while traditional SMAs, ETFs, and MFAs will be set up as a sleeve. Also, later this year Fiserv will converge its front-office tools with its middle- and back-office technology to integrate its Financial Advice Solutions, Portfolio Management and Trading Solutions and Performance Reporting Solutions onto the company’s Unified Wealth Management platform to mark the third milestone.Details
S1 Corporation payments and financial services software announced that CEFCU credit union has licensed online and mobile banking, new account opening, and out-of-band authentication solutions from S1. This allows CEFCU members to interact with a richer online banking experience that allows them to manage their account balances, open new accounts online, utilize enhanced fraud control features, and initiate fast and secure payments from their accounts to PayPal™ users using their mobile phones.Details