Precash Launches Bill Payment Routing Service

PreCash payment solutions has introduced its “Billocity” expedited bill routing and delivery service. Offering bill payment processors easier, faster and more profitable payment delivery “Billocity” uses virtual card accounts to help processors add revenue and deliver a better value to consumers and billers. An additional way to route expedited payments through a biller’s Internet and telephone channels using virtual payment card accounts, the bill routing solution accelerates average payment-delivery time, delivering consumers’ payments to avoid late fees and service disruption. “Billocity” offers payment for billers in the insurance, utilities, cable/satellite, wireless and local phone industries. PreCash processes about $1.6 billion dollars in payments annually across all product lines.

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NCR Announces 2% Revenue Increase Y/Y

GA-based NCR Corporation reported financial results for the three months ended March 31, 2010 with revenue of $1.03 billion, up 2% from the year ago period. NCR reported a first-quarter net loss attributable to NCR of $19 million, compared to a net loss attributable to NCR of $15 million in the 1Q/09. Revenues grew 24% in the Asia-Pacific-Japan (APJ) region due to higher sales in both the financial services industry and the retail industry, positively impacted by 12% due to foreign currency translation. Revenues rose 1% in the Americas region as increased revenues from the entertainment business were somewhat offset by lower product sales to customers in the financial services industry and the retail and hospitality industries in the United States, the Caribbean, and Latin America. NCR generated $14 million of cash from operating activities during the first quarter of 2010 compared to $38 million in the year-ago period. Net capital expenditures increased to $51 million in the first quarter of 2010 from $25 million in the year-ago period, primarily due to investments in the entertainment business. NCR ended the quarter with $408 million in cash and cash equivalents, a $43 million decrease from the $451 million balance as of December 31, 2009. As of March 31, 2010, NCR had a debt balance of $11 million. Retail Banking Research showed NCR is the world’s largest supplier of multivendor ATM middleware and applications.

NCR REVENUE HISTORICAL
1Q/09: $1.01 billion
2Q/09: $1.12 billion
3Q/09: $1.42 billion
4Q/09: $1.35 billion
1Q/10: $1.03 billion
Source: CardData (www.carddata.com)

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AIR MILES

The enactment of the voluntary Code of Conduct for the Credit and Debit Card Industry in highlights the need for issuer strategies to change. As forces such as the growth of Internet commerce transform the industry, a new report from Deloitte, “Charting a new course for the credit card industry”
suggests that the concept of a credit card and the form it might take are likely to change significantly over time and assume both a physical and virtual dimension.
According to Deloitte, there are eight emerging changes to the payments landscape which include: the merging of credit cards and bank accounts; mobile phones used as payment devices; loyalty programs will increase significantly between card issuers and retailers; a rise in the use of prepaid cards for recurring payments; credit card holders will see an increase in security features that prevent fraud and consumers will be educated on responsible debt management. Deloitte anticipates that some credit cards will be cancelled, but there will be new ones to choose from – Given the significant challenges and future uncertainties facing the credit card industry, some issuers will exit the credit card business entirely, while others will choose to remain in the credit card business, but retrench by eliminating product lines and redefining operating models. However, there will also be new entrants in this market, particularly well-known retailers and e-wallet providers.

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Visa and MasterCard to Respond to Pending SmartMetric Lawsuit

SmartMetric announced that both MasterCard and
Visa have contacted SmartMetric concerning its patent infringement
lawsuit and have requested time to respond.
According to SmartMetric, MasterCard
alone admits in a press release on its corporate website that it has
issued more than 50 million cards that use a technology that SmartMetric
claims breaches its patent.

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BB&T Reports Q1 Net Income of $194 Million

NC-based BB&T Corporation has reported its net income totaled $194
million compared with $318 million earned during the first quarter of
2009. Net charge-offs totaled 1.84% for the quarter, up 1 basis point compared
to the fourth quarter of 2009. The provision for credit losses totaled
$575 million, exceeding net charge-offs by $100 million. The growth
results from loans acquired through the Colonial acquisition,
loans originated by BB&T’s specialized lending group, which increased
15.2% in the first quarter and revolving credit loans, which increased 12.7%
Commercial loans decreased 2.5% reflecting a $2.1 billion decrease in
residential acquisition, development and construction loans compared to
the first quarter last year and slower overall commercial loan demand
Excluding the Colonial acquisition, average total loans decreased 4.3%
The provision for credit losses increased the allowance for loan and
lease losses as a percentage of loans and leases held for investment to
2.65% at March 31 compared to 2.51% at Dec. 31, 2009
The outlook for net charge-offs remains unchanged for 2010 at 1.80%.

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TrustCash Begins Testing of WAP iPhone Technology

Trustcash Holdings and its client Fluidcast has begun testing a
Wireless Access Protocol (WAP) enabled version of the TrustCash payment technology. WAP
is an open international standard for application-layer network
communications in a wireless-communication environment. Most use of WAP
involves accessing the mobile web from a mobile phone or from a PDA.
A WAP browser provides all of the basic services of a computer-based web
browser but simplified to operate within the restrictions of a mobile
phone, such as its smaller view screen. Users can connect to WAP sites:
websites written in, or dynamically converted to, WML (Wireless Markup
Language) and accessed via the WAP browser. Once testing is successfully
completed the TrustCash checkout process will be compatible with100’s of
WAP enabled phones.

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Fiserv Ranks in FORTUNE 500 for Fourth Straight Year

Fiserv financial services technology solutions has ranked 491 on the 2010 FORTUNE 500, an annual ranking of all U.S. companies by revenue. This marks the fourth consecutive year that Fiserv placed on the FORTUNE 500. Additionally, nearly one in four companies named in the Fortune 500 are Fiserv clients. This ranking follows the March 22 issue of FORTUNE in which Fiserv ranked fifth of the World’s Most Admired Companies in the Financial Data Services category for the second year in a row. It is based on votes from businesspeople, based on the companies that they admire most. Fiserv electronic commerce systems for the financial services celebrated its 25th year in 2009.

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Dresser Wayne Installs 11,000th Nucleus POS

Dresser Wayne fuel dispenser technologies has announced its 11,000th installation of the “Nucleus” POS, available on the retail-hardened IBM platform. Available for installation with Dresser Wayne, Gilbarco and other dispensers, “Nucleus” POS is designed specifically to endure the daily rigors of the busy C-store environment. The touch screen enables fast, accurate transactions allowing retailers to serve their customers efficiently. The system has been certified as PCI compliant providing retailers the peace of mind that they are PCI compliant, now and in the future. More than 25 percent of all Nucleus POS systems installed today interface with non-Dresser Wayne dispensers.

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C$ cMoney Acquires Bonfire Productions

TX-based Mobile technology developer C$ cMoney has acquired majority stock ownership of Bonfire Productions, Inc. The previously announced intention of C$ cMoney to merge with Bonfire is currently pending. Bonfire will continue to be a legally independent and publicly listed stock corporation until such time as the merger is complete.
C$ cMoney has developed a new and innovative way to send money and pay for goods and services using a cell phone. The mobile application, scheduled to launch this summer, will enable consumers to download and use it with virtually any mobile device, and will eliminate identity and credit card theft. Terms of the transaction were not disclosed.

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RBR RESEARCH

Mobile payment solution provider Mobibucks reports a significant increase in demand for its products in the last six months in the Middle East and North Africa (MENA) region. Mobibucks offers unique payment and incentive products for making purchases using a mobile phone number. Mobibucks is a patented cashless, cardless, and contactless solution that targets everyday purchases made by consumers looking for the convenience of virtual payments and by merchants looking to attract the millennium generation utilizing a mobile commerce offering. It allows banks to provide customers convenient and affordable access to their money from any mobile phone. Some of Mobibucks key features include:secure and instant opening of accounts; cost effective marketing; conversion of cash into electronic payments with a cell phone without the cell phone present;no need for consumers to purchase a new cell phone or merchants to set up a new payment system; builds loyalty to business or brand and limitation of critical issues such as cell phones running out of power or operating in unsafe or unreliable conditions.

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RTG Ventures and IFS Ink JV for iPayu Mobile Payments

RTG Ventures has announced a joint venture with London-based International Financial Systems Limited (IFS) that will develop and roll out the iPayu mobile payments technology. IFS invented the iPayu platform and RTG Ventures had an existing agreement to license the technology to roll out and embed into its portfolio of products. This agreement sees both sides making a larger commitment to support continuing development of the intellectual property rights and enables the new joint venture to exploit opportunities faster. The joint venture will officially launch on May 31st and will combine the technical, banking and payments expertise of IFS with the sales, marketing and operations muscle of RTG Ventures. IFS provide core banking, Internet banking, mobile phone banking and compliance solutions. RTGV is targeting niche markets in the areas of Web-TV with embedded internet and mobile payment solutions.

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U.S. Bancorp Names Vice Chairmen

Terrance R. Dolan has been appointed as vice chairman of Wealth Management and Securities Services while Jeffry H. von Gillern has been appointed as vice chairman of Technology and Operations Services for U.S. Bancorp. Dolan is currently executive vice president and controller of U.S. Bancorp where he has been for 11 years while Von Gillern is currently chief information officer of U.S. Bancorp, where he has been for nine years. Dolan and von Gillern will join the U.S. Bancorp managing committee, which consists of the 14 most senior executives in the company. Dolan has a bachelor’s of arts degree in accounting from the University of St. Thomas and is a CPA and Von Gillern has a bachelor’s of science degree from the University of Arizona.

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