VERSAPAY & POSITIVE

Processing solution provider VersaPay Corporation has
agreed to sell its 75% ownership stake in Positive Inc., a
provider of wireless point-of-sale terminals and merchant
services, to Anthony Stapenhurst, Positive’s President and holder of
the remaining 25% of Positive’s shares. Stapenhurst is considered to be a Non Arms Length Party to VersaPay,
as such term is defined in the policies of the TSX Venture Exchange (the
“Exchange”), because Mr. Stapenhurst is a director and senior officer of
Positive, which is a subsidiary of VersaPay. Under the terms of the transaction, VersaPay has
agreed to exchange its shares in Positive, for 150,000 common shares in
VersaPay held by Stapenhurst, which are currently subject to escrow.
In addition, VersaPay has agreed to grant Stapenhurst an option,
exercisable no later than 10 days following the closing date of the
Transaction, to transfer to VersaPay any of the remaining 100,000 shares
of VersaPay he owns at a price of $0.50 per share. Stapenhurst
currently owns 250,000 shares of VersaPay, 237,500 of which are
currently subject to escrow over a three-year period. Further, the Transaction
constitutes a “Related Party” transaction under the definition of that
term in Multilateral Instrument 61-101, and is subject to a number of
conditions including the approval of the Exchange.

Details

VISA VISITOR GUIDE

Visa, a FIFA Partner and the preferred card of the tournament, has released a Top 10 list of useful payment card tips to ensure everyone traveling to South Africa for the 2010 FIFA World Cup in its “Visa Visitor Guide: South Africa 2010.” The guide offers information on must see heritage sites, museums, and safari parks as well as shopping and dining insights from local experts, and now includes an updated tournament schedule and a list of the 32 qualified teams. The 2010 FIFA World Cup South Africa accepts only Visa-branded payment cards and cash in all 2010 FIFA World Cup stadiums for food and beverages, retail goods, and services, so the guide primarily recommends bringing a Visa payment device. Additionally, Visa is recommending notifying your issuing bank that you will be traveling; to take advantage of special merchant offers while in South Africa; set up automatic bill pay for your credit card and make sure you have sufficient funds in your debit account; to contact the issuing bank about travel-related benefits for Visa cardholders; and to review your payment card statements and contact your issuing bank immediately if you see any suspicious or incorrect charges. The Visa Visitor Guide can be seen online at visit www.visa.com/fifavisitortravelguide.

Details

ACI Reports $87.7 Million In Q1 Revenue

E-payment processor ACI reports its revenue was $87.7 million in the quarter ended March 31, 2010, a
reduction of $0.5 million over the prior-year quarter revenue of $88.2
million. The reduction in revenue was led by a $1.5 million variance in
license fees and a $3.3 million reduction in implementation and services
fees as compared to the prior-year quarter. However, revenue improved by
$3.5 million in maintenance and by $0.8 million in on-demand hosting
revenues. Our monthly recurring revenue of $63.3 million in the quarter
ended March 31, 2010 represented a rise of $5.9 million over the
prior-year quarter, resulted largely from higher ratable monthly
software license fee revenues and maintenance revenues in the EMEA segment.
ACI Worldwide is a leading provider of software and services solutions
to initiate, manage, secure and operate electronic payments for major
banks, retailers and processors around the world.

Details

BANAMEX VISA

Digital security provider Gemalto has posted total revenue for the first quarter of 2010 of EUR 390 million, an increase of 8% over 2009 at constant exchange rates. All segments posted revenue expansion.Revenue from software and services more than doubled year on year. Increased investment in this activity, with new service offerings from both bolt-on acquisitions and organic developments, as well as renewed demand from mobile network operators led to this strong performance.
Revenue from the traditional SIM card business was stable year on year. Product mix improved only slightly as the return to large-scale innovation projects continues to be gradual. Demand for Gemalto products in some developed markets showed renewed momentum. This quarter saw a return to solid revenue growth of microprocessor payment cards, with strong deliveries driven by worldwide EMV migration and dual interface contactless card deployments. This growth fully compensated for the effect of last year’s shift from registered mail to standard mail for card deliveries and for 2010 being a low point in the UK payment card renewal cycle. This quarter also saw the pursuit of new migration projects to the more secure and higher-end Dynamic Data Authentication EMV (Europay MasterCard Visa) payment cards in Europe.

Details

Encore Capital Sees 23% Increase in Collections for Q1

Debt collector Encore Capital Group reports gross collections were $141.3 million, a 23% increase over the $115.2
million in the same period of the prior year.
Investment in receivable portfolios was $81.6 million, to purchase $2.1
billion in face value of debt, compared to $55.9 million, to purchase
$1.3 billion in face value of debt in the same period of the prior year.
Available capacity under the revolving credit facility, subject to
borrowing base and applicable debt covenants, was $54.5 million as of
March 31, 2010. Total debt, consisting of the revolving credit facility,
convertible senior notes and capital lease obligations, was $318.0
million as of March 31, 2010, an increase from $303.1 million as of
December 31, 2009. Revenue from receivable portfolios was $82.9 million, a 15% increase
over the $72.3 million in the same period of the prior year. Revenue
recognized on receivable portfolios, as a percentage of portfolio
collections, excluding the effects of net portfolio allowances, was 64%,
compared to 67% in the same period of the prior year.
Revenue from bankruptcy servicing was $4.4 million, a 6% increase over
the $4.1 million in the same period of the prior year.
Total operating expenses were $65.6 million, a 9% increase over the
$60.2 million in the same period of the prior year. Operating expense
(excluding stock-based compensation expense and bankruptcy servicing
operating expenses) per dollar collected decreased to 42.9% compared to
48.3% in the same period of the prior year.
For more details on Encore
Capital’s first quarter performance visit CardData (www.carddata.com).

Details

PAYPAL

E-payment processor First Data has
extended its processing agreement with Raiffeisen Bank Polska SA and
broadened the scope of its cooperation with the bank to include issuing
and processing of chip-based credit cards. The expanded agreement
enables Raiffeisen Bank to offer an advanced product with enhanced
transaction security and functionality to cardholders. First Data recently implemented a Web Data Access eXchange (WDX)
solution for Raiffeisen Bank Polska SA that enables the bank’s customers
to access a range of bank services online. Cardholders can view
information such as credit card balances, card payment and transaction
history and perform card activations using a variety of communication
channels such as the Internet and a mobile phone.

Details

GETI and PayLeap Forge Online ACH and Gift Card Partnership

Global eTelecom check processing and gift/loyalty card and PayLeap electronic payment services have partnered to enhance secure payment processing options for online e-commerce merchants. This partnership is intent on enhancing payment processing options for online merchants and their clients by integrating GETI solutions into the PayLeap payment gateway.
Global eTelecom provides proprietary electronic Check processing and Gift/Loyalty services to over 55,000 merchants nationwide, providing ePOS Check Conversion, Paper Guarantee, ACH Debit, Checks-By-Phone, Checks-By-Web, Check 21+ remote deposit capture, mobile Tele-Debit and Gift/Loyalty Card Processing.

Details

ADVANCE RETAIL

Island Pacific, a 100% owned subsidiary of 3Q, has expanded its “AdvanceRetail” operation in Malaysia. “AdvanceRetail” Technology Asia is to provide an increased level of support to resellers operating within the region. Island Pacific continues to develop and deploy high value and innovative software solutions that enable retailers to manage the entire scope of their operations and to understand, create, manage and fulfill consumer demand. These include POS, customer relationship management, vendor relationship management, merchandising, demand forecasting, planning, replenishment, allocation, and event planning.

Details

Consumers Seeking Debt Settlement Questions

Consumers tend to have a
misunderstanding when it comes to government grants and bailouts
regarding debt relief. The closest form of a debt relief bailout or grant is a program known as
debt settlement, however, such programs are not affiliated with the US
Government. Credit-Card-Relief.net offers a free debt evaluation to see what debt
relief program is best for the consumer at: www.credit-card-relief.net
This program is unique compared with other various credit
card debt relief services. Debt settlement works to eliminate debt
amounts through a negotiation process. In this program a professionally
trained debt arbitration specialist works to negotiate debts with
creditors on a consumer’s behalf.

Details

Asset Acceptance Capital Names New CFO

Reid E. Simpson has been appointed SVP and CEO, Asset Acceptance Capital, effective May 17, 2010. Simpson was most recently the CFO, Aircell in-flight mobile broadband services. Reid was also the CFO of eCollege.com, CFO of CCC Information Services, an advanced software, communication systems, internet and wireless-enabled technology solutions to the automobile claims and collision repair industries. Prior to this he held CFO positions at Dun & Bradstreet Plan Services (from 1988 to 1991), Nielsen Marketing Research (from 1991 to 1993) and DonTech (1993 to 1997).

Details

Mint.com Helps Americans Conquer Debt

With nearly 35% of Americans losing sleep over money matters, more than those worried about career or marriage combined, Mint.com (www.mint.com), a unit of Intuit, has created a free resource center for people looking to tackle their own debt, available at: http://www.mint.com/solutions/debt/. From February 2009 to February 2010, Mint.com users shrank average credit card debt by 14.3 percent, from $5,501 to $4,716 and increased cash savings by 3.2%, for an average liquidity growth across the aggregate group of 18.4%, year-over-year. Those working with the Mint.com budgeting tool saw their cash increase by 11.4%, while those who elected to not budget with Mint.com’s tool have seen their cash decrease by 3.9%. Still 75% of Mint.com users identify paying off debt as a key financial goal, and 84.1% have revolving debt in the form of credit cards.

Details