MasterCard Worldwide has launched MasterCard Labs payment solutions Research & Development arm and the subsequent appointment of Garry Lyons as Group Executive, Research & Development. To oversee MasterCard Labs, effective April 30, 2010, Gary will be responsible for building payment advancements and leveraging enhanced time-to-market capabilities to drive innovations. He will focus on conceptualization, proof of concept, pilot, and support commercialization in order to deliver additional value to customers and consumers. Lyons most recently served as the Orbiscom CEO, where he has significant experience in the software and financial services industries, primarily focused on the technology and business development aspects of deploying complex large scale systems to global financial services institutions. Before joining Orbiscom, Lyons held senior technology and management positions with Cognotec, Credo and ICL.Details
Payment Data Systems integrated electronic payments solutions provider announced revenue for the year ended December 31, 2009 increased 7% to $3,218,674 from $3,001,487 in 2008. The increase of $217,187 was primarily due to increased card-based processing revenue from increased transaction volume. Operating loss improved by 46% to $941,670 for 2009 from $1,690,300 in 2008. Net loss for the year ended December 31, 2009 decreased to $803,526 from $944,617 in 2008, but the net loss for 2009 was $267,326 after adding back noncash stock-based compensation expenses of $536,200. Additional disclosures show Payment Data Systems processed 29% more credit card transactions in 2009 as compared to 2008; 11% more credit card dollar volume in 2009 as compared to 2008; total assets increased 91% from $607,991 at December 31, 2008 to $1,162,869 at December 31, 2009; cash increased 447% from $103,428 at December 31, 2008 to $565,597 at December 31, 2009 and net income was $22,565 for Q3 of 2009 and a net loss of $53,712 for Q4 of 2009.Details
E-payment provider GlobalCollect announced that private equity investment firm Welsh, Carson, Anderson& Stowe
has signed an agreement to acquire the
majority share in GlobalCollect. GlobalCollect’s senior management continues to hold the remaining
stakes in the firm and will remain in charge of the operational
business. GlobalCollect is the world’s premier Payment Service Provider of local
e-payment solutions for international Customer Not-Present (CNP)
channels such as internet, mail and telephone orders, and specialized in
a wide range of industries such as travel, ticketing,
telecommunications, retail, publishing, portals, online gaming, and
digital content. GlobalCollect is a full service
partner consulting clients on how to increase transaction volumes,
expand distribution channels, and reduce costs by streamlining back
office processes through a single-interface online payment platform.
The terms of the transaction were not disclosed.
Commerce Bancshares announced earnings of $.53 per share for the three months ended March 31, 2010 compared to $.38 per share in the first quarter of 2009, or an increase of 39.5%. Net income for the first quarter amounted to $44.2 million compared to $30.8 million in the same quarter last year while the return on average assets totaled 1.00%, the return on average equity was 9.3% and the efficiency ratio was 60.5%. Total assets at March 31, 2010 were $18.0 billion, total loans were $10.4 billion, and total deposits were $14.0 billion. Commerce Bancshares currently operates in over 370 locations in Missouri, Illinois, Kansas, Oklahoma and Colorado. The Company also has operating subsidiaries involved in mortgage banking, credit related insurance, and private equity activities.Details
Ave Investments has announced investments made in development and manufacturing for the “Intel Atom” family of pcCashdrawerÂ® products resulting in 700% year over year revenue growth. With ISVâs have attained 2010 business performance results unheard of in the POS industry. six new retailers selected pcCashdrawer, POSmicro, or posPortable products in 2010, including Old Time Pottery and Russell Stover. Also, contracts were closed for 2 national specialty retailers totaling 400 locations, a specialty retailer with 30 stores around the United States, and 1 retailer with multiple stores in 15 metropolitan locations. AVE Investments manufactures, installs, and services innovative POS platforms.Details
Wells Fargo has joined forces with e-StewardsÂ®
Enterprises to ensure electronics recyclers meet the
highest standards for responsible recycling. The e-Stewards Standard,
ensures that recyclers will never export hazardous e-wastes to
developing countries, dump them in municipal landfills or incinerators,
or use captive prison populations as labor and calls for strict
protection and destruction of customerâs private data and occupational
health created by the Basel Action Network (BAN ) with leading
electronics recyclers, certification industry experts, and occupational,
health, and safety specialists criteria to prevent workers in recycling
plants from being exposed to toxic dusts and fumes. The
e-Stewards Recycler Certification is the worldâs first global
electronics accredited e-waste management program. It is the only
electronics recycling certification supported by environmental groups
such as the Natural Resources Defense Council and the Electronic
TakeBack Coalition. It has also attracted broad participation from the
electronics recycling industry: approximately 50 e-Stewards Recyclers
have already passed BANâs own review and are now committed to become
certified in the next two years.
FL-BankAtlantic announced that Charles Bean is the Grand Prize winner of
its ATM “Access to Music” Sweepstakes contest.
In addition to winning two ADT Club tickets to five summer concerts held
at the BankAtlantic Center in Sunrise, Florida, Bean won a backstage
tour to each of the five concerts and a meet-and-greet with one mutually
agreed upon performing artist. He will receive a special gift bag of
tour merchandise for each of the five concerts at the BankAtlantic Center.
Heartland Payment Systems’Campus Solutions has released the “Acceluraid” electronic aid distribution
platform. Integrating a single financial account with
Heartlandâs “OneCard System,” “Acceluraid” allows students fast and convenient access to their financial
aid refunds through a unified financial account, linked to both the prepaid
Heartlandâs “Campus OneCard” as well as a
school-branded debit card sponsored by a leading card brand. “Acceluraid” can also be used
as a standalone platform by distributing aid to a financial account
linked only to a debit card. This single-account system allows students to use their campus ID cards
as they normally would with Heartlandâs OneCard System to access
buildings and parking facilities, library and dining services as well as
make purchases on-campus at bookstores, vending and laundry machines.
Also “Acceluraid” can be used as a component of Heartlandâs
off-campus merchant program giving students the ability to use their
campus ID cards to make purchases at participating businesses.
BMO Bank of Montreal has announced two fundraising initiatives in support of the three Kitchener/Waterloo/Cambridge area hospitals – Cambridge Memorial, Grand River and St. Mary’s General. During the campaign, when a customer applies for and uses their BMO MasterCard for the first time, $50 will be donated to the hospital foundations. Customers can apply for a BMO MasterCard in any branch in the Kitchener/Waterloo/Cambridge areas as well as online through the three separate hospital foundation websites (link will be added to each website for May 1).
The fund raisers will help the three hospitals purchase, upgrade and
replace equipment necessary to deliver top-notch clinical care. In 2009, BMO contributed $55 million in donations, sponsorships and events in Canada and the United States to groups, organizations and programs that help build and sustain resilient, vital and healthy communities.
CA-based NFC solution provider ViVOtech has launched the
PCI 2.1-certified, “ViVOpay 8100” next-generation customer-facing
device. With contactless NFC payment and promotion technology to enable
small and medium-size merchants to accept mag-stripe,
contactless and NFC mobile payments, as well as deliver personalized
mobile loyalty and marketing programs to their customers,
the “ViVOpay 8100” offers advanced functionality from the
mobile phenomenon. With the “ViVOpay 8100”, consumers tap their
mobile phone to electronically redeem a coupon or discount voucher,
swipe or tap to make a payment or enter their PIN for debit payments to
complete a transaction. ViVOtechâs mLoyalty software allows ISOs and
acquirers to offer merchants the ability to deliver personalized coupons
and offers to their customersâ existing mobile phones, driving more
traffic to their stores and creating up-sell opportunities.
All “ViVOpay 8000” series products are PCI 2.1 certified for highly
secured PIN entry of debit card transactions using an ADA-compliant
keypad and optional signature capture for other payment card
edatanetworks has announced Jerry Bulger has been appointed as the President of Next Generation Loyalty USA, a wholly owned subsidiary of edatanetworks. Most recently having served as the VP of Business Development at TSYS Acquiring, Bulger, will be spearheading NGLâs expansion in the United States and international markets. Bringing with him over 19 years’ experience, Jerry has provided strategic and financial advice to a wide variety of financial institutions, merchant acquirers, third-party processors, merchants and associations throughout the United States. He is also a leader in new product development, product strategy, business case analysis, and benchmarking and operations improvement of registered card and card loyalty programs.Details
MBNA has launched the “American Airlines AAdvantage American Express Credit Card” that offers a competitive rate of interest plus a range of unique rewards through the exclusive American Airlines AAdvantage travel rewards programme. Every customer spending GBP250 within the first 90 days of opening an account will receive a sky high 5,000 AAdvantage bonus miles. By using the new AAdvantage credit card, customers will earn three AAdvantage miles for all supermarket, petrol and American Airlines purchases within the first six months of the account opening. Other card purchases or purchases made after the first six months will earn 1.5 AAdvantage(R) miles for every GBP1 spent. The card will offer 0% on all American Airlines flights purchased with the card for 12 months from the date the account is opened, and customers will be eligible for a range of exclusive promotions throughout the year. The new American Airlines AAdvantage American Express credit card offers 0% on balance transfers and money transfers for six months from the date the account is opened.Details