Brian Hughes has been appointed Executive VP and Head of Card and Retail Services for HSBC Finance Corporation. Having been with HSBC since 2004, most recently serving as EVP, Marketing, for Card and Retail Services, he was responsible for the strategic direction and day-day-day leadership and operations of the Retail Services business and its merchant relationships. Hughes has played a key role in working effectively with the merchants on business solutions, including renegotiating many merchant and partner contracts. Prior to joining HSBC, Hughes was a Principal with Booz Allen Hamilton, where he specialized in growth strategy and marketing effectiveness.Details
Visa’s three months ended June 31, 2010 payments volume growth was positive was a positive 14% over the prior year at $803 billion, compared to the prior quarters’ positive 13% over the prior year at $745 billion. Total processed transactions for the three months ended June 31, 2010 totaled 11.7 billion and were a positive 14% increase over the prior year, compared to 10.6 billion the prior quarter. Meanwhile, service revenues were $873 million, compared to $885 million the prior quarter, an increase of 13% versus the prior year. Data processing revenues rose 31% over the prior year to $792 million while international transaction revenues, which are driven by cross border payments volume, grew 25% over the prior year to $574 million.
Jun 08: 9.5 billion
Sep 08: 9.6 billion
Dec 08: 9.8 billion
Mar 09: 9.4 billion
Jun 09: 10.3 billion
Sep 09: 10.5 billion
Dec 09: 10.9 billion
Mar 10: 10.6 billion
Jun 10: 11.7 billion
Note: Visa, Visa Electron, Interlink and PLUS
cards processed on Visa’s networks.
Source: CardData (www.carddata.com)
Cintas Corporation secure document management services earned Payment Card Industry (PCI) Data Security Standards (DSS) compliance for the third consecutive year. All Cintas document storage and shredding locations meet the stringent and comprehensive requirements set by the PCI Security Standards Council and adhere to the information security controls and processes that ensure data integrity. Cintas provides cost-effective document shredding, storage and imaging programs. Its services are designed to provide businesses with data privacy and security, compliance with regulatory requirements and greater control and access to information.Details
SmartMetric has filed a second Amended Complaint against Visa and MasterCard for patent infringement in United States District Court. The Company has included a full copy of the entire complaint included in an SEC Form 8-K filing. SmartMetric will be seeking a preliminary and permanent injunction against each defendant, prohibiting each of them from further infringement, an award of actual damages SmartMetric has suffered by reason of the infringement, and a royalty on each of the defendant’s infringement. SmartMetric has developed a portable biometric identity and transaction card capable of storing a wide variety of personal information.Details
In 2009, 5.2 billion microcontroller and memory-based smart cards shipped into applications such as SIM cards, payment and banking, government ID, and transportation. The IC market for the year was valued at $1.7 billion, according to the latest metrics from ABI Researchâs Smart Card Market Data. Gemalto maintained as the number one manufacturer, with an estimated 33.8% market share, while Morpho (previously Sagem Orga) gained the most market share (up 1.8%) to consolidate its fourth position. Meanwhile, with 26.3%, Infineon continued to account for the most revenue among the IC manufacturers while in unit terms, Samsungâs strong position in SIM cards saw it capture 34% of IC volumes. The ABI Research âSmart Card Market Dataâ forecasts show that the market is ready to grow, both in terms of card volumes and IC revenues.Details
Wells Fargo & Company was named the Best Consumer Internet Bank and Best Corporate/Institutional Internet Bank in the U.S. In the Consumer category, again was the U.S. winner in Bill Payment and Presentment, Best Web Site Design, and Best Online Deposits Acquisition, and added Best Integrated Consumer Bank Site. On the Corporate/Institutional side, Wells Fargo earned Best Website Design and Best Information Security Initiatives. This at the 11th year Global Finance has named the World’s Best Internet Banks. Winning banks were selected based on strength of strategy for attracting and servicing online customers, success in getting clients to use web offerings, growth of online customers, breadth of product offerings, evidence of tangible benefits gained from Internet initiatives, and website design and functionality. Wells Fargo Internet Banking currently has 17.4 million active online customers.Details
Small business owners are showing signs of confidence in their own businesses, with 56% having reported revenue in line or higher than last year. Meanwhile, 47% expect revenue to be higher next year while 63% say their company is financially healthy. This is despite the fact 90% of small business owners feel the economy is currently in a recession, 80% feel we will still be in a recession next year, and 75% think the economy will still be in a recession in 2011. These findings, according to results of the 2010 U.S. Bank Small Business Annual Survey, concludes 32% feel their state has better conditions for small businesses than the rest of the country; 41% would like to see their bank meet their individual needs better; 39% want their bank to know them and their business better; and 30% want their bank to deal in a more straight-forward manner.Details
The “HomeCard” Company has introduced the âTheHomeCard.com Cash Rewards Programâ to match home buyers, sellers and renters with local real estate agents and earn cash rewards up to $7,000 to use after they move-in. The program helps simplify the home-buying, selling and renting process by efficiently screening and pairing consumers seeking to buy, sell or rent with real estate professionals. In addition, cash rewards are awarded based on the value of a home purchased, sold or rented of as much as $7,000 on a “HomeCard” pre-paid card for use anywhere Visa or MasterCard is accepted.Details
Diebold posted 2Q/10 income from continuing operations of $30.4 million, compared to $24.9 million last quarter, while revenue was $665.2 million, down 4% from 2Q/09. Total revenue was down 4%, including a net positive currency impact of 3% while total gross margin was 26.8%, an increase of 2.4 percentage points from the year ago period. Operating profit was 7.0% of net sales in the second quarter 2010, an increase of 0.3 percentage points from the second quarter 2009. Included in operating profit in both periods were restructuring charges and non-routine income, as well as an impairment charge in the second quarter 2010. Excluding these items from both periods, non-GAAP operating profit margin* was 7.8% in the second quarter 2010 and 7.1% in the second quarter 2009. Income from continuing operations was $30.4 million, or 4.6% of revenue in the second quarter 2010, a decrease of 4.9%, or 0.1 percentage points from the second quarter 2009.
Dynamic Card Solutions (DCS) instant issuance and PIN selection solutions has been granted Notice of Allowance for a patent encompassing proprietary instant issuance printing technology for unembossed financial cards by the U.S. Patent and Trademark Office. The application, titled ‘Real Time Card Printing Systems and Methods’, describes the ability to produce financial cards from blank card stock. The DCS technology enables the instant issuance of any unembossed financial card with the ability to print standard background designs, custom images, cardholder’s name, expiry date, logos, PAN and CVV/CVV2 codes. The high-definition image and personalization information is transferred via heat and pressure onto both sides of branded white stock, providing greater permanence and increasing durability.Details
Euronet Worldwide posted 2Q/10 revenues of $244.2 million, down from the 2Q/09 figure of $248.6 million and 1Q/10 figure of $250.0 million. This reflects its lowest revenue since the first quarter of last year. However, the EFT Processing Segment reported revenues of $46.5 million, compared to $45.6 million in 2Q/09, Transactions of 197.3 million, compared to 174.3 million in 2Q/09, and operated 10,408 ATMs as of June 30, 2010, compared to 9,336 ATMs as of June 30, 2009. The epay Segment reported revenues of $137.6 million, compared to $145.2 million for the second quarter 2009, and transactions of 204.4 million, compared to 194.2 million in 2Q/09. The Money Transfer Segment reported revenues of $60.1 million, compared to $57.8 million for the second quarter 2009, transfer transactions of 4.7 million, compared to 4.5 million for the second quarter 2009, and transaction growth of 18% from non-U.S. markets outpaced continued declines in money transfers from the U.S. to Mexico of 10%, resulting in 4% revenue growth. For complete details on Euronet’s quarterly results visit CardData (www.carddata.com).
EURONET REVENUE HISTORICAL
1Q/09: $233.7 million
2Q/09: $248.6 million
3Q/09: $264.8 million
4Q/09: $285.6 million
1Q/10: $250.0 million
2Q/10: $244.2 million
Wilco Dado has been appointed Head of Global Payments, Global Transaction Services (GTS), RBS. Previously Head of GTS in the Netherlands, Dado will manage global payment services and cash management for corporate and institutional clients in his new position. Bringing with him more than 20 years of experience in transaction banking, he has a background in cash management, electronic banking, relationship banking and product management. Wilco will also seek to further develop and execute an integrated payments strategy bringing together the key challenges of payments and collections and will look to develop products, with a key focus on SEPA.Details