NCR Announces 2Q/10 Revenue up 5%

NCR Corporation reported financial results for the three months ended June 30, 2010, with revenue of
$1.18 billion, up 5% from the year ago period. In the Europe/Middle East/Africa (EMEA) region, revenue grew 10% from 2Q/09 thanks to a higher volume of product sales to customers in the financial services, retail and hospitality industries. The 3% revenue increase in the Asia-Pacific-Japan (APJ) region, compared to the year-ago period, was due to increased product sales in the retail industry in Japan and higher services revenue in the retail and financial industries across the region. Revenue increased 2 percent in the Americas region over the prior year period due to growth in the entertainment industry and increased volume of product sales in the retail industry, which were partially offset by lower volumes of products and services to customers in the financial services industry. Foreign currency translation positively impacted revenues by 2 percent. NCR secured a rollout of its Intelligent Deposit offering at a large regional U.S. bank for the replacement of several hundred ATM units with NCR’s “SelfServ” 32, 34, and 38 with “APTRA Edge” and “APTRA Exchange” software solutions. NCR expects full-year 2010 revenues to increase in the range of 2 to 5% on a constant currency basis compared with 2009.

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Merchant Warehouse to Demonstrate Payment Processing

The Merchant Warehouse VP of Business Development will be demonstrating its Partner Channel at the RSPA RetailNow 2010 Conference, July 25-28. The merchant accounts and credit card processing solutions presentation will focus on developing strong, profitable and mutually beneficial partnerships with Merchant Warehouse’s current and future partners, as the company places additional focus on the partner channel. Merchant Warehouse will also be demonstrating two of its innovative products, including the “MerchantWARE TransPort,” which allows POS developers to remove the card processing function entirely from their software while retaining full functionality through a “transactional portal.” Also, they will be demonstrating “Pay @ the Table” with BINsmart, a wireless solution for payments.

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Cap One Card Revenues Down 7.6%

Capital One posted 2Q/10 domestic credit card revenues down $188.0 million (7.6%) from 1Q/10 with loans totaling $54.6 billion, a decline of $1.6 billion(2.9%). The revenue margin in the Cap One Domestic Card segment declined 48 basis points to 16.61% from 17.09% in the prior quarter while provision expense decreased $421 million(38.4) thanks to lower charge-offs, which improved 99 basis points to 9.49% from 10.48%. Meanwhile, delinquency rates improved 51 basis points to 4.79% from 5.30% while purchase volumes in domestic cards increased $2.6 billion by 11.0%. For complete details on Capital One’s third quarter performance, visit CardData (www.carddata.com).

U.S. CARD NET INCOME
1Q/09: $000.7 million
2Q/09: $173.0 million
3Q/09: $289.8 million
4Q/09: $461.0 million
1Q/10: $489.0 million
2Q/10: $568.0 million
Source: CardData (www.carddata.com)

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Western Union and Family Dollar Launch Remittance

The Western Union Company and Family Dollar have inked agreements to make available the Western Union “goCASH service” in-lane money transfer service at 6,500 Family Dollar store locations. Building on Western Union’s go-to-market strategy in the United States, providing consumers the convenience of being able to send a domestic or global money transfer while shopping, the “goCASH” service offers patrons remittance denominations of $50; $100; and $200. A goCASH money transfer can be purchased for both domestic and international money transfers and be picked-up at any Western Union Agent location around the world. Once purchased in-lane, at a cash register, the sender will complete the transaction over the phone through a Western Union customer service representative and provide the money transfer information to the receiver.

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MoneyGram Expands Russian Operations

MoneyGram International global money transfer services has signed the Savings Bank of the Russian Federation (Sberbank) as its latest agent. With this, Sberbank is expected to be MoneyGram’s largest agent in the region and will introduce MoneyGram services initially in more than 7,000 locations with plans to expand to 10,000 bank branches. Russia is the third largest send market in the world after the U.S. and Saudi Arabia. Countries that receive the most in remittances originating in Russia are: Uzbekistan, Tajikistan and Ukraine. Russia is also in the top 20 receive countries in remittances.

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CashStar CEO to Present on Digital Gift Card Potential

CashStar co-founder and CEO David Stone will deliver a presentation about the changing role of gift cards in the digital age titled “Engaging the New Digital Corporate Culture: Making the Business Case” at the Incentive Gift Card Council’s (IGCC) Emerging Markets Summit Sessions in Baltimore, MD. The members-only sessions provide a dynamic platform for gift card and incentives professionals to share ideas and develop strategies for selling and marketing. Stone will provide his presentation that sets the stage for the audience on how they can connect with their consumers digitally, outlines the digital gift card market, highlights and defines best practices and, most importantly, arms attendees with proof points to help them build a business case for digital gift cards within their organization.

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GEMALTO

Gemalto digital security has been chosen to manage Home Trust Company’s migration from magnetic stripe credit cards to EMV (Chip and PIN) smart payment cards. Home Trust is a Canadian Visa Issuer and one of Canada’s leading trust companies, focusing on consumers who typically do not meet all the lending criteria of traditional financial institutions. Gemalto is providing microprocessor payment cards, as well as data preparation, card personalization and fulfillment at Gemalto’s state-of-the-art facility in Burlington, Ontario. Gemalto will also train the Home Trust team extensively on all activities associated with EMV migration.

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VERIFONE

FANBOX has included the VeriFone “V(x)” technology certification program in its loyalty programs, prepaid cards and gift cards. With this, all retailers using VeriFone “V(x)” terminals for their banking transactions will be able to process FANBOX loyalty cards, prepaid cards and gift cards. FANBOX provides “SKU-based” loyalty programs and gift cards. Since its founding in 2002, FANBOX has been a leader in technologies and relational marketing. From year to year, thanks to its extensive expertise, FANBOX has continued to set the benchmark for the successful establishment and management of loyalty programs and affinity groups.

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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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