Union Bank has launched its “Mobile Business Center” secure m-banking app. Letting customers access accounts and perform treasury management activities on their smartphones, the mobile banking application is available to the bankâs commercial customers at no cost. With this, chief financial executives, treasury management and small business owners can view account balances; approve wire transfers; and scheduling internal transfers. There is no limit to the number of accounts or users who can access the application and fund balances are displayed in all major foreign currencies. It also provides alert notifications on web-enabled mobile devices and access to the Mobile Business Center to take action.Details
Hypercom posted a record 3Q/10 net revenue of $125.1 million, up a staggering 23.7% ($23.9 million) over the year ago figure of $101.2 million. This performance was also up on the 2Q/10 figure of $103.9 million and was thanks mostly to strong growth in Europe by 21.3%; Asia-Pacific by 81.2%; and in the Americas by 7.8%. Meanwhile, gross profit was $40.1 million, compared with the $32.1 million in 2Q/10 and the year ago figure of $33.2 million; operating expenses were $33.1 million, compared to $29.2 million last quarter and $30.5 million in the year ago period; operating income was $7.1 million, compared with $2.9 million in the prior quarter and $2.7 million in 3Q09; and net income was $4.5 million, compared with the last quarter net loss of $1.3 million and net income of $1.2 million in the year ago figure. The quarterly performance is also a reflection of stock gains on the unsolicited Verifone acquisition proposals dated September 24th, 29th and 27th for $5.25 per share in cash for a total of $290 million. Unanimously rejected by the Hypercom Board of Directors, the proposal exploded Hypercom share prices 44%, immediately overvaluing the proposal (CardFlash Library 2010/10/07, 2010/10/08).
HYPERCOM REVENUE HISTORICAL
3Q/08: $121.1 million
4Q/08: $120.5 million
1Q/09: $ 82.8 million
2Q/09: $106.8 million
3Q/09: $101.2 million
4Q/09: $117.4 million
1Q/10: $ 98.8 million
2Q/10: $103.9 million
3Q/10: $125.1 million
Source: CardData (www.carddata.com)
The Caribbean Media Exchange (CMEx) is assisting Caribbean nations and citizens recover from Hurricane Tomas. CMEx has started an online hurricane emergency relief campaign targeting regional and international travel and tourism industry partners as well as the Caribbean’s populations abroad. Tax-deductible for US taxpayers who itemize their deductions, donations will benefit recovery efforts in nations who request urgent humanitarian assistance, 100% of which-less credit card transaction fees-will be directed to recovery efforts on the ground.Details
U.S. Bank is set to implement “Secure Vault Payments” (SVP) online payment ACH payment. Giving businesses an online payment option for real-time authorization of funds and guaranteed payments for ACH transactions at costs typically lower than traditional and other alternative payment methods, “SVP” lets users initiate payments on a merchant or billerâs web site. It automatically redirected to their own financial institutionâs online banking platform to select which account they wish to use for payment and returns to the merchant or billerâs site, where they receive a payment confirmation. The financial institutions authenticate consumers and provide businesses with real-time authorization and confirmation of payment. Consumers benefit by not having to share any financial account information with the merchant or biller, and billers benefit from not having to securely store payer account information.Details
Alert Logic log management, intrusion detection and cloud security solutions has completed its Self-Assessment Questionnaire D for Service Providers in compliance with the PCI DSS and is PCI Service Provider Level 2 certified. Alert Logic helps organizations eliminate the burden of PCI compliance management as the security industry’s only cloud-powered vulnerability assessment, intrusion detection and log management solution. Together with a 24×7 Security Operations Center that provides monitoring by certified security analysts as well as redundant data centers, Alert Logic provides organizations with the most affordable and easy means to secure their networks and comply with PCI DSS in ways traditional security solutions cannot.Details
Discover Financial Services has introduced its cardmember exclusives at the 2011 Discover Orange Bowl. With this, fans can purchase premium tickets to the game by redeeming Cashback Bonus rewards and the company is offering exclusive experiences for cardmembers who use their Cashback Bonus to purchase tickets. These include a sneak peek at the Orange Bowl half-time entertainment the night before the game; access to the Game Day Fan Zone; admission to the pre-game Discover Tailgate Party featuring food, beverages, entertainment; and special appearances by sports broadcasters and personalities including legendary football coach Bobby Bowden, who incidentally appears in the ad campaign for the promotion. Bowden and ESPN analyst appear in a new series of âPeggyâ service rep commercials, which highlight Discoverâs award-winning customer service.Details
TNS data communications services posted total revenue for the 3Q/10 having dropped 6.3% to $131.2 million from the 3Q/09 revenue of $140.1 million. On a constant dollar basis, revenues increased 5.2% to $132.8 million while GAAP net income was $4.0 million compared to the year ago figure of $3.2 million. For the Payments Division alone, revenue dropped 2.4% to $50.0 million from the year ago figure of $51.3 million. Revenue from the European payments business increased 9.5% by $2.4 million thanks to a $2.2 million gains in market share and a $0.3 million increase in card present gateway revenue, partially offset by a reduction of $0.1 million due to the loss of an ATM processing customer. Revenue from the payments business in Asia Pacific increased 9.3% due to an increase of 33% of card not present gateway revenue. Revenue from the payments business in North America decreased 13.6% thanks to a decrease of $2.0 million relating to pricing compression and transaction volume declines related to certain dial customers; $0.8 million from TNS’ ATM software product referred to as SONIC; and a $0.5 million reduction in TNS’ Canadian ATM processing business. Revenues generated outside North America, formerly reported as the International Services Division (ISD), are now incorporated into Payments and Financial Services, respectively.
TNS REV HISTORIC
2Q/09: $122 million
3Q/09: $140 million
4Q/09: $138 million
1Q/10: $130 million
2Q/10: $131 million
3Q/10: $133 million
Hawaii State Federal Credit Union has selected Open Solutions’ “DNA” processing platform. Using .NET technology on its open platform, “DNA” implements a universal data model and design with a client-centric processes. It also focuses on enhancing workflow, flexibility and productivity with the centralized “Oracle” relational database for running a service-oriented financial institution to help credit unions streamline both front- and back-office processes. With this, “DNA” creates a centralized view of customers, employees and business partners, which Hawaii State Federal Credit Union will implement in an outsourced environment through Open Solutions’ data center and has developed an institution-wide promotion to create a logo and internal branding campaign. Open Solutions provides integrated enabling technologies for financial service providers throughout the United States, Canada and other international markets.Details
MasterCard announced financial results for 3Q/10 with a net income of $518 million, compared with the last quarter figure of $458 million, a net revenue of $1.4 billion, flat compared to last quarter. This was thanks in great part to an increase in cross-border volumes of 15.4%, compared with the 15.2% increase seen in the last quarter, and an 8.5% increase in GDV on a local currency basis to $685 billion, compared with 8.5% to $656 billion in 2Q/10. Meanwhile, year-over-year, worldwide purchase volume during the quarter was up 7.9% to $514 billion; the number of processed transactions was up 0.6%; total operating expenses decreased 4.1% to $662 million thanks to a 6.7% reduction in general and administrative expenses; and the operating margin was up 4.2% to 53.6%.
2Q/10 NET REVENUES ($ billions)
Source: CardData (www.carddata.com)
The Bancorp Bank Payment Solutions Group has forged a partnership with Net1 Virtual Credit Card to introduce “VCpay” prepaid virtual payment card
application to the m-payment market for Card-Not-Present transactions. The “VCpay” application has been distributed to tens of thousands of smartphones
with significant adoption anticipated in coming months. Metro PCS will be Net1âs first distributor of “VCpay” to its several million prepaid customers as
an application that will be pre-loaded on new smartphones or can be downloaded on select existing devices. The MetroPCS Virtual Prepaid MasterCard mobile
phone-based prepaid program does not require the user to have a physical card or a bank account and can be loaded with cash at any of MoneyGramâs 40,000
U.S. agent locations.
Moggle has received certification to use the Chase Paymentech’s “Orbital Payment Gateway” for its “Virtual Piggy” technology. This certification allows Moggleâs Virtual Piggy application to support credit card transactions on the Chase Paymentech payment processing platform. The Chase platform supports all major credit cards. Virtual Piggy is an online system that allows parents/guardians to set up an online spending profile for their children and control their children’s spending on the web. It is designed to give the parent the ability to control and guide the child through their online transactions â handling both computer and mobile based transactions.Details
Dazbog Coffee multi-unit, multi-state gourmet coffee company has partnered with Mocapay and will launch its mobile platform initially at Colorado locations.
The Mocapay mobile suite is easily integrated with Dazbogâs existing POS equipment. This is a prime example of the adaption to the digital culture for
mass marketing to reach every age demographic. Mocapayâs mobile suite is ultimately designed to increase loyalty and drive revenue through the POS with
m-payments capability. Soon to follow will be the Mocapay payment solution at Arizona, California, Maryland, Texas and Wyoming stores.