May Being Billed as Direct Deposit Month

NACHA has designated the month of May to highlight the many benefits and resources available to individuals and companies of using Direct Deposit as a means of streamlining processes and saving money. Direct Deposit works for every business.

Celebrate Direct Deposit Month with NACHA

NACHA offers the website as a resource for all things Direct Deposit and Direct Payment including:

What it is, how it works, the benefits.
Implementation and marketing tools and resources.
Calculation tools to estimate how much you can save by switching your organization’s payroll from paper checks to Direct Deposit.
How to communicate the benefits of Direct Deposit and Direct Payment to your employees and your customers.
How to increase employee benefits by adding split deposit to your payroll program.


BankAtlantic Launches On Demand Text Message Banking

BankAtlantic’s free “Text Message Banking” service combines a secure banking medium and the ease of sending and receiving a text message, allowing users to check account balances, view latest transactions, receive low balance alerts, and make fund transfers to their primary account, using text messages from anywhere, at any time. BankAtlantic’s Text Message Banking functionality offers free 24 hour, 7 day a week Text Message Banking; Text Message Low Balance Alert notifications; and fund transfer. It provides customers a banking medium that can be securely accessed by anyone with the ability to send and receive a text message.


February Leading Economic Index Up 0.6%

The Conference Board LEI for Australia increased in February, following a small gain in January and contributing to a six-month growth rate of 2.3% (a 4.8 percent annual rate). This is down from 3.2% (a 6.5 percent annual rate) for the previous six months. Meanwhile, the Conference Board CEI for Australia, a measure of current economic activity, was unchanged in February, but grew by 0.3% (a 0.5 percent annual rate) from August 2010 to February 2011, down from 1.4% (a 2.8% annual rate) for the previous six months. At the same time, real GDP grew at a 3.0 percent annual rate in the fourth quarter of 2010, up from the 0.5 percent increase (annual rate) in the third quarter. The positive contributors to the index include rural goods exports, the sales-to-inventories ratio*, the yield spread, money supply*, share prices, and gross operating surplus.


FIS Begins Processing ELO Cards

FIS’ Brazil-based subsidiary, Fidelity Processadora e Servicos, has begun processing credit cards issued by Banco Bradesco under the ELO brand and will process the prepaid cards issued by Cia Brasileira de Solucoes e Servicos (CBSS) under the new brand. The ELO-branded cards will be available to all social classes to leverage the use of plastic as an instrument to enhance access for about 40 million Brazilian citizens. The cards will become an important ally in the process that will eventually replace checks and cash in commercial transactions and will provide the convenience and security of using credit, debit and prepaid cards as alternative means of payment.


NCR Revenue Up 6% Y/Y

NCR Corporation reported financial results for 1Q/11 with a revenue of $1.1 billion-up 6% from the year ago figure- thanks to a favorable impact of 2% from foreign currency translation. NCR’s Financial Services segment generated first-quarter revenue of $592 million, up 3% year-over-year, across most geographies. Meanwhile, the Retail & Hospitality segment reported revenue of $376 million, up 5% from 1Q/10 thanks to continued customer adoption of self-checkout solutions as well as assisted POS deployment. Entertainment revenue of $37 million increased 106 percent from the $18 million recorded in the first quarter of 2010, up 16% from the previous quarter thanks to same store sales growth, new entertainment kiosk deployments and the Company’s strategy to redeploy selected kiosks to better performing locations.

NCR has now installed more intelligent deposit ATMs than any other manufacturer in key global regions, including Europe, MEA and North America according to a report from Retail Banking Research (RBR), including its new “SelfServ 16” compact ATM. With this growth, NCR expects 2011 revenues to increase 5-7% on a constant currency basis compared with 2010. Including the continuing investment in the entertainment portfolio, the company now expects its full-year 2011 Income from Operations (GAAP) to be $170 million to $185 million and non-GAAP non-pension operating income (NPOI) (2) to be in the range of $380 to $395 million.


Green Dot Sees 100%+ GDV Growth Q/Q

The Green Dot prepaid financial services company posted 33% increase in non-GAAP total operating revenues to $123.2 million in 1Q/11, along with a 27% increase in net income to $17.5 million. Total operating revenues on a generally accepted accounting principles (GAAP) basis increased 26% to $117.3 million for the quarter from the year ago period of $92.8 million. Meanwhile, operating revenues increased 33% to $123.2 million from $92.8 million in 1Q/10, thanks in great part to the number of general purpose reloadable (GPR) debit cards activated totaling 2.21 million, for an increase of 23% from 1Q/10. Also boosting revenue was an increase of 35% in the number of cash transfers to 7.98 million, an increase of 27% from the number of active cards to 4.28 million; and an increase of 62% in gross dollar volume to $4.6 billion.


ScanSource Posts Net Income Up 38% Y/Y

ScanSource point of sale, communications, and physical security products for the reseller market released 1Q/11 figures indicating net sales of $613 million and net income of $16.5 million. With this, net sales increased 24% to $613.5 million compared to $496.1 million for the quarter ended March 31, 2010 while operating income increased by 34% to $25.5 million from $19.0 million in the comparable prior year quarter. Net income increased 38% to $16.5 million for the quarter ended March 31, 2011 versus $12.0 million for the quarter ended March 31, 2010. The effective tax rate for the quarter decreased to 34% in the current quarter from 36.5% in the prior year quarter. Diluted earnings per share increased 33% to $0.60 in the current quarter compared to $0.45 in the prior year quarter.


50% Believe in Their Upwardly Mobile in Next 5-10 YRS

Apparently, 50% believe they will be “upper middle class” or “well off” in five to ten years, despite the fact only 16% of Americans currently describe themselves in those terms. Coincidentally, there is a deterioration in Americans’ outlook on the economy, local business conditions and their own financial situation, given 65% today see themselves as “just keeping even” rather than “upwardly” or “downwardly” mobile, as they struggle with rising gas, food and healthcare costs. This survey, conducted by Hart Research Associates for Citi, found Americans remain optimistic about their future economic prospects, despite a significant drop in their overall outlook on the economy since January. In fact, while 24% describe themselves as “upwardly mobile,” 47% believe they will be in a higher economic group within the next five to ten years than they are in now. Conversely, while 44% currently label themselves as “poor” or “working class,” compared to 16% upper middle class or well off and 39% middle class, only 32% believe it is very or somewhat likely they will be lower middle class, poor or below the poverty line in the next five to ten years.


cMoney Launches ATM to ATM Cash Transfer

cMoney global mobile phone-based payment and money transfer unveiled its latest technology enhancement to its existing solution to allow for the movement of money between ATMs. Using technologies for mobile phone users, retailers, and financial institutions, the cMoney solution continues to receive positive feedback in our business development discussions, technology developments, shareholder feedback and from the market. Another enhancement slated for rollout in the cMoney solution will offer our customers a new virtual credit card geared specifically to their spending habits while enhancing their credit worthiness. Further cMoney’s introduction of our revolutionary technology is state of the art, and will trump the NFC concept allowing our customers new financial freedom. The cMoney solution provides for credit card data never being revealed; implementing store discount, coupons, and loyalty cards; and sending money from cell to cell instantly, bank to bank and ATM to ATM, securely.


MasterCard Appoints New Board Member

MasterCard Incorporated announced the election of Rima Qureshi to its Board of Directors, which is now comprised of 12 members. Ms. Qureshi is senior VP and business unit head, CDMA Mobile Systems at Ericsson, the world’s leading provider of technology and services to telecom operators and also has served as vice president, AT&T Improvement Program Manager for Ericsson North America from 2008 until 2009, and vice president, Service Sales for Ericsson Canada in 2008. She served as vice president and head of Product Area Customer Support for Ericsson AB in Stockholm from 2004 until 2008.


Sallie Mae Launches College Money mApp

Available on iPhone, iPod touch, Android and Blackberry smartphones, Sallie Mae has officially launched its Upromise mobile app, targeting the more than 73 million U.S smartphone users leverage Upromise to earn money for college. The location-based service instantly searches more than 50,000 restaurants, retailers, services and gas stations that provide Upromise savings where they live, work and travel. With its GPS technology, the Upromise app automatically finds the consumer’s location and showcases nearby stores offering Upromise rewards. Free to join at, members can earn money when they shop online, book travel, dine out, buy groceries or even purchase a home.