2Checkout.com Achieves Level 1 PCI DSS Compliance

2Checkout.com (2CO) has been certified Level 1 compliant with the PCI-DSS to offer merchants increased security and peace of mind. This compliance also allows its clients to focus on buildng their business, instead of engaging in an assessment and remediation process that can be cumbersome for small to mid-size businesses and cost thousands of dollars. 2Checkout.com (2CO) is a worldwide leader in payment and e-commerce services and provides web-based businesses merchant accounts, merchant account alternatives and a fully automated suite of backend services.

Details

Kawartha FCU Implements Fiserv Core Banking

Kawartha Credit Union of Peterborough of Canada has chosen to implement the “Acumen” core banking system from Fiserv financial services technology solutions. The $700 million institution cited the integrated loan origination platform of Acumen and its 360-degree view of members as key factors in the credit union’s decision to leverage the strategic platform in-house. Kawartha provides a full suite of services to its almost 37,000 consumer and small business members through 19 branches in Central Ontario. It is one of the fastest growing and most profitable credit unions in Ontario, and it seeks to continue that growth by providing more and better services to its members. The Acumen core banking platform is designed to meet the needs of the largest credit unions with its open architecture, advanced functionality and superior ease of use.

Details

California Small Businesses Show Increasing Optimism

The majority of California’s small business owners (54 percent) believe 2011 will be better than 2010, while 36% expect the same as last year and only 10% expect worse. With this, 34% of California’s small business owners say their business situation is better than a year ago, up from 28% in September and just 19% in March of last year. This, according to the latest Citibank small business survey, also shows those who rate their business situation as worse than a year ago declined to 32% from 35% in September and 45% in March. Regarding the most positive impact on their business, 28% cite reducing taxes; 21% was more credit availability; and 17% was lower healthcare costs.

Details

PayPal Adds 150 New Jobs for Euro Operations

PayPal announced 150 new jobs at its European operations and customer service headquarters in Blanchardstown, Dublin. The new roles will support PayPal’s fast growing European business, which achieved $1 billion in revenues for the first time in 2010. More than 1,200 people already work at PayPal’s European Center of Excellence in Blanchardstown, providing operational and customer support to consumers and businesses across Europe. PayPal’s European operation center opened in Dublin in 2003. Since then the number of staff has increased from just 25 to more than 1,200 today. The Dublin center manages all direct customer contact for PayPal’s businesses across Europe.

Details

Economic Index Down .5% in December

The Conference Board Leading Economic Index (LEI) for China declined 0.5% in December to 154.3 (2004 = 100), following a 0.5% increase in November and a 0.8% increase in October. Three of the six components contributed positively to the index in December. Meanwhile, The Conference Board Coincident Economic Index (CEI) for China, which measures current economic activity, decreased 0.5% in December to 196.8 (2004 = 100), following a 1.0% increase in November and a 0.2% increase in October. Three of the five components contributed positively to the index in December.

Details

SelectCore Announces Profit 100 Ranking Candidacy

SelectCore payment and transaction processor for prepaid financial and telecommunication services has announced its candidacy for the 2011 Profit 100 ranking of Canada’s Fastest-Growing Companies. This year will be Profit Magazine’s 23rd annual recognition, for which SelectCore’s 2011 candidacy is based on its five-year sales growth of 324% from $24.4 million in 2005 to $103.5 million in 2010. SelectCore was previously honoured three times by Profit 100 in 2006, 2007 and 2009. Since its first ranking as Canada’s 6th fastest-growing company, SelectCore has realized unprecedented growth of 39,770%.

Details

Heartland Posts 4Q/10 Revenue Up +$50mm Y/Y

Always a reliable performer, Heartland Payment Systems announced its 4Q/10 net income of $6.6 million and total revenues of $478 million. This was up on total revenue of $420 million in the year ago quarter, but down marginally on $499 million posted in 3Q/10. Performance throughout the quarter was due in great part to Heartland having closed on a new credit facility in November, with a five-year $100 million term loan and a $50 million revolving credit facility with a five-year commitment. While adjusted Net Income was up to $7 million on the $5.9 million posted a year ago, additional 4Q/10 figures show a net revenue of $110.5 million, up 5.1% year-over-year; a 35.7% increase in operating income year-over-year; operating margin on net revenue of 12.9%; and same store sales up 3.8%, up almost 100% since 3Q/09. For all of 2010, GAAP net income was $34.5 million; net revenues for 2010 were $444.9 million, up 6% compared to 2009; adjusted net income and Earnings per Share for fiscal 2010 were $25.8 million, compared to $29.3 million in 2009.

Details

Diebold Embodies Ups & Downs of Recovery

Usually a solid performer, Diebold felt a 4Q/10 loss from continuing operations of ($119.9) million from the $7.9 million gained in the year ago period. Revenue was up though by 9%, posting a solid $791.0 million from 4Q/09 thanks to global orders having increased 7%, a growth of 12% since 4Q/09. Every region of the world was good to Diebold throughout the quarter with revenue growth from 3% in EMEA on the low end to 19% in Latin America. Performance was thanks to financial self-service orders in North America having grown in the recovery and a growing demand for deposit automation solutions. While Latin America and Asia are reliable markets for the Company, Europe continues to prove a challenge. Diebold is seeking to tap the market and re-engineering its infrastructure to free up more resources, after experiencing less than 3% on the Continent. Meanwhile, total operating expenses as a percentage of revenue for the quarter was 41.9%, an increase of 21.5% Y/Y, and included a net $0.3 million of restructuring charges and $9.2 million in restructuring charges thanks to U.S. workforce reduction. For the full-year 2010 operating loss was (0.1%) of revenue, down 5.6% from the year ago period while non-GAAP operating profit was 6.9%, up 0.7% year-over-year.

Details

Fundtech Puts Up Record Breaking 4Q/10, Revenue Up 15% Y/Y

Fundtech global transaction banking put up record-crushing 4Q/10 revenues of $37.8 million, a 15% increase over the $32.8 million posted 4Q/09 and a 5% increase over the $36.0 million in 3Q/10. Net income saw astronomical growth to $5.8 million compared $3.4 million a year ago and $2.9 million in just the previous quarter. The entire 2010 year wasn’t anything the Company had to complain about either with revenues up 20% to $141.9 million from $117.8 million in 2009. Net income in 2010 was $12.5 million compared with net income of $4.7 million in 2009. Growth since 2009 was all the buzz in the board room, with operating income having grown a whopping 229%; cash management up 14%; messaging having grown by 21%; and the payments segment up 24%. This was thanks in some part to Fundtech having closed 128 new deals and added 12 new bank customers in 4Q/10; closed 15 new system sales with banks; and having implemented SEPA direct debit systems in 24 European banks for some serious revenue streams. Subsequently, Fundtech sees good things to come in 2011 with major expansion into Latin America and China for strong and steady growth with projected revenues between $154 million and $159 million.

Details

Capital One Unveils Student Rewards Credit Card

Capital One has made available its “Journey” Student Rewards Credit Card to help college students build their credit with confidence and reward them for responsible credit use. The card offers straightforward cash rewards with 1% cash back on all purchases and an additional 25% bonus on the cash earned each month that cardholders pay their bill on time. With a variable APR of 19.8% on purchases and no annual fee, the “Journey” card offers a low initial credit limit as cardholders familiarize themselves with how credit works. Tools such as free customizable text/email alerts help students manage their credit by keeping track of their spending and payment due dates. The Card is designed to give students the information they need to manage credit wisely, coupled with built-in guardrails and rewards to help keep students on track as they build a credit history.

Details

NCR and McAfee Unveil ATM Security Solution

NCR ATMs has extended its security offering through a new agreement with McAfee security technology company. NCR has begun offering “Solidcore Suite” for APTRA for use with the McAfee “ePolicy Orchestrator” platform. The “Solidcore Suite for APTRA” is a multivendor ATM software security solution with real-time centralized management that prohibits the introduction of unauthorized code to an ATM and protects the system from insider attacks. With this, NCR and McAfee have developed a new version of “Solidcore Suite” for APTRA that runs seamlessly with McAfee ePO software and proactively allows only authorized code to run, rather than reacting to known or unknown attacks as they arise.

Details