Global POS to Grow at CAGR 9.7% by 2013

The Global POS Software market is forecast to reach $3,377 million in 2013 from $2,328.1 million in 2009; thus, growing at a CAGR of 9.7 percent over the period 2009-2013. POS software is increasingly being adopted by the organizations dealing in wholesale businesses. This, according to TechNavio, is because such organizations are required to get the right product in the right place and price when the customer demands it – all in a high volume, time pressured environment. In addition, they need to take advantage of the demand-driven trend to build better forecasts, improve warehouse efficiency, and remain a preferred route to market for suppliers and customers.

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Best Sites Awards Merchant Warehouse

Best Sites has awarded Merchant Warehouse their “Best Merchant Account Provider” award for 2010. This recognition and award is given to the merchant account provider that has demonstrated its commitment to providing the best merchant account support, pricing, equipment and customer support in the industry. The evaluation was based on a number of factors, including support hold times, equipment options, technology, ethical business practices, and customer satisfaction. Merchant Warehouse offers merchant accounts and related equipment, focusing especially on customer support.

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Top Card Issuer Revenue Up 9.8% Q/Q

Credit card revenue for the three largest U.S. issuers, ranked by outstandings, held strong across the board for 2Q/10, up more than 9.8% since the prior quarter. According to CardData (www.carddata.com), the nation’s top three issuers posted a total of $8.2 billion in second quarter net revenue, compared to $7.4 billion in 1Q/10. Chase reported 2Q/10 net revenue $343 million, an increase of more than 110% from the prior quarter. BofA posted global cards net income of $6.9 billion, compared to $6.8 in the prior quarter, while Citi reported revenue down only marginally from $936 million in 1Q/10 to $929 million. These performance results reflect an easing of the credit crunch, with issuers easing lending standards. For complete details on second quarter performance visit CardData (www.carddata.com).

REVENUE HISTORICAL ($mm)
BofA Chase Citi
1Q/10: 6,800 -300 936
2Q/10: 6,900 343 929
Source: CardData (www.carddata.com)

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U.S. Bank Launches Online Card Spending Tracker

U.S. Bank is launching its “ScoreBoard” tool, offering trending and reporting data that allows customers to monitor their own credit card spending and also compare their card sales data to industry trends. The “ScoreBoard” application is available to U.S. Bank’s small business credit cardholders and merchant customers who process credit, debit and electronic check transactions through U.S. Bank Merchant Services. It features easy-to-read charts and graphs that provide a monthly snapshot of their credit card purchases, payments, offers insight into their merchant accounts, tracking sales transactions when customers use a card for payment of goods and services. Business owners who have a U.S. Bank-issued small business credit card can access “ScoreBoard” through their existing Internet Banking platform to monitor card spending by an individual employee cardholder or for their entire business; review transactions over various time periods and categories; and examine purchase activity by volume, average ticket price or merchant name.

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Alpha Card Services to Market ExaDigm Terminal

Alpha Card Services payment processor and merchant acquirer is set to market the ExaDigm “XD1000 Dual Comm” Countertop Payment Terminal to its merchant customers. Alpha Card has chosen to add the “XD1000” to its terminal offering because it offers a truly future-proof and highly cost-effective solution greatly reducing the impact that compliance upgrades, technology changes and advances in communications can have on their merchant customers. The terminal features advanced Linux operating system, is easily field upgradeable avoiding redundancy due to changes in technology; offers the ability to add wireless connectivity, including CDMA, GPRS and WiFi; and delivers advanced security features protecting merchants and cardholders.

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19% Trust mBanking, Up 10% over 18 Months

Mobile banking is gaining acceptance, with 19% of U.S. consumers have conducted banking transactions on a mobile device, compared to only 9% 18 months ago. Moreover, 33% of U.S. consumers age 16-24 conducted mobile banking, the highest age group concentration, while 52% of all consumers who have not used this type of service are most concerned about privacy. This, according to KPMG’s fourth annual Global Consumers and Convergence survey, also shows those comfortable using their mobile devices for financial transactions grew to 16%, 6% higher than 18 months ago; those uncomfortable with such usage declined to 55%, 11% lower than 18 months ago; over 10% used their mobile device to buy something from a retailer’s mobile site while 10% conducted an investment transaction on their mobile device.

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iCARD Systems Introduces Eco-Friendly Card

iCARD Systems is now providing its entirely paperless, plastic-free, and carbon neutral environmentally friendly Green iCARD” gift card solution through its Web site, http://green.clickit.icardgiftcard.com. With plastic gift cards account for 75 million pounds of discarded Polyvinyl Chloride (PVC) each year, the “Green iCARD” Gift Card is an emailable gift card, redeemed online for digital gift cards from more than 50 popular online retailers including Macy’s, Barnes & Noble, Overstock, Zappos, Sephora, Dick’s Sporting Goods and many more. Digital gift cards are typically a 19-digit code and four-digit PIN that the recipient can use online when completing their purchase online. Some retailers may also allow the codes to be used in physical stores.

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SCE FCU Selects Geezeo For PFM Platform

California-based SCE Federal Credit Union has selected Geezeo online banking to provide a PFM solution and integrated marketing platform. Offering online financial management (OFM) tools, personal financial management (PFM), social networking and web-based community platforms to financial institutions, Geezeo was founded in 2006 to offer banks tools to empower online customers with a holistic view of their financial assets, liabilities and budgets. SCE Federal Credit Union was founded in 1952 and currently has more than 42,000 members and $485 million in assets.

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AmEx Posts 2Q/10 Revenue Up 27%

American Express reported a $522 million 2Q/10 profit for its U.S. card services business, following a $153 million loss in the year ago period and a $428 million gain in 1Q/10. Total revenues net of interest expense increased 27% to $3.6 billion from $2.9 billion thanks to the consolidation of securitized cardmember loans, related debt onto the balance sheet in the first quarter and cardmember spending up 16%. Provisions for losses totaled $519 million, down 56% from $1.2 billion a year ago while total expenses increased 18%. These expenses include marketing, promotion, rewards and cardmember services, up 36% from the year-ago period.

American Express U.S. Card Metrics
Net Income
3Q/08: +$244 million
4Q/08: +$ 4 million
1Q/09: (-$ 25 million)
2Q/09: (-$153 million)
3Q/09: +$109 million
4Q/09: +365 million
1Q/10: +$428 million
2Q/10 +$522 million
Source: CardData (www.carddata.com)

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Semtek Clients Awarded ROC

Two of Semtek’s national retail clients have been awarded Reports of Compliance (ROC) from their PCI Qualified Security Assessors. Semtek’s encryption solutions, in these retail cases marketed under the brand name “VeriShield Protect” and installed within the TRSM of VeriFone payment terminals paired with Semtek’s Cipher Decryption Services, supported on the TNS network or in the merchant’s own data center, were subject to the payment industry’s mandatory PCI DSS auditing requirements. Both merchants received successful ROC and have been recognized by their merchant acquirers and the PCI DSS auditing body. Semtek focuses on resolving the security vulnerabilities of magnetic stripe, contactless, and EMV based payment systems.

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Risk Management Vital to Same Day ACH

Javelin Research has concluded to maintain volume, an ACH network must integrate key technology and infrastructure advances. Same-day ACH, which goes into effect August 2, will be offered by the Federal Reserve through its opt-in “FedACH SameDay.” This, according to Javelin’s “Strategic Guide to Same-Day ACH: Is Half a Solution Better than None?,” concludes for the FedACH service, same-day eligible standard entry class (SEC) codes composed 37% of all ACH transactions in 2009; developments in mobile payments offer a strategic incentive to payments networks such as the ACH; the value proposition of the ACH network can be clearly differentiated from that of other networks; and proactive risk management by the ACH network is required to support a ubiquitous move to same-day ACH.

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SanDisk Appoints New CEO

With Dr. Eli Harari, Founder, Chairman and Chief Executive Officer, stepping down December 31 after 22 years, Michael Marks, a member of the SanDisk Board since 2003, will assume the role of Chairman effective January 1. Marks, the President of Riverwood Capital private equity firm, was also CEO, Flextronics, for twelve years. SanDisk Corporation provides flash memory cards, from research, manufacturing and product design to consumer branding and retail distribution for mobile phones; embedded memory for mobile devices; and solid state drives for computers.

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