Acculynk payments provider has appointed Ulrike Guigui Executive VP of Issuer Development. Guigui brings with her extensive experience in the consumer finance and payments industries, in both Europe and North America, most recently at MasterCard and GE Money. With GE Money, she served for seven years in marketing and business management roles across both European and US platforms, was Managing Director of GEâs largest auto financing business and went on to build a credit card business in Switzerland. Guigui started her career as a management associate at Citibank where she held a number of roles over her ten year tenure in marketing and managing credit cards in Europe and the U.S., as well as serving as marketing manager for the Private Bank across EMEA.Details
SCM Microsystems, provider of solutions for secure access, secure identity and secure exchange, has introduced its thumb-sized “SCR3500 SmartFold” Personal Identity Verification (PIV)/Common Access Card (CAC) smart card reader. The device has been approved by the General Service Administration (GSA) for use by U.S. government agencies and employees. The “SCR3500 SmartFold” is ideal for notebooks without integrated card readers for protecting sensitive business anywhere, at any time, with full security right through the USB port. The portable contact smart card reader will fit easily on employeesâ key rings and in their pockets. The reader is compliant with all Federal Information Processing Standards 201 (FIPS 201) and PIV/CAC card requirements, and is ready for purchase by government agencies and/or their purchasing agents. SCM Microsystems smart card-based products offer secure access, secure identity and secure exchange using a range of contact, contactless and mobile smart card reader and terminal technology.Details
Financial institutions representing more than 97% of eligible Visa-branded credit and debit cards have accepted the Alternative Recovery Offers they received pursuant to the settlement entered into by Visa, Heartland Payment Systems and Heartlandâs sponsoring acquirers in January. This level of acceptance fulfills the 80% opt-in condition that was one of the requirements of the $60 million settlement. This provides these issuers a recovery from Heartland with respect to losses they may have incurred from the 2008 criminal breach of the payment processorâs payment system network. Visa, Heartland and Heartlandâs sponsoring acquirers have agreed to renew the Alternative Recovery Offer to the non-accepting issuers until Monday, February 8, 2010.Details
The Western Union Company has released financial results for the 2009
fourth quarter with a 2% increase from Q4 2008.
In the fourth quarter, revenue was $1.3 billion, an increase of 2% from
the comparable period in 2008, or down 1% on a constant currency basis.
Fourth quarter operating income margin was 24%. As expected, operating
income margins were impacted by Custom House and FEXCO acquisition
related costs, U.S. domestic pricing reductions and marketing
promotions, the assumption of the retail money order investment
portfolio, and other expenses. Operating income margin in the fourth
quarter of 2008 was 26%, or 28% excluding restructuring expenses.
GAAP and constant currency EPS in the fourth quarter of 2009 were $0.32.
GAAP EPS in the fourth quarter of 2008 was $0.34, or $0.37 excluding
restructuring expenses. For the full year, revenue was $5.1 billion,
down 4% from 2008, or down 1% on a constant currency basis. Full year
operating income margin was 25%, or 27% excluding the settlement
accrual, which compared to 2008 operating income margin of 26%, or 27%
excluding restructuring expenses.
Full year 2009 GAAP EPS was $1.21, or $1.29 excluding the settlement
accrual. On a constant currency basis EPS was $0.01 lower. GAAP EPS in
2008 was $1.24, or $1.31 excluding restructuring expenses. Custom
House, which was acquired in September 2009, added $23 million of
revenue, but incurred a $5 million operating loss in the fourth quarter.
For the full year, Custom House added $31 million of revenue and
incurred a $12 million operating loss.
Aite Group examines the online channel priorities for credit unions in 2010.
According to the report, 2010 is shaping up to be a good year
for investment and strategic focus on the online channel.
While the financial crisis and current recession have been challenging
for all financial institutions, credit unions have enjoyed several new
opportunities. A majority of credit unions have experienced deposit
growth as a result of the financial crisis, while many see increased
interest in the credit union model, increased market share in their
geographic footprint, or new member growth resulting from consumer trust
in credit unions. With these opportunities, however, comes increased
pressure on credit unions to extend their service and trust advantages
to the online channel.
Moody’s Investors Service has released the analysis of Japanese
installment sales loan receivables ABS. The new report, “Moody’s
Approach to Rating Japanese Installment Sales Loan Receivables ABS”
analyzes the transactions’ underlying assets and member merchants.
Specifically, with the underlying assets, Moody’s estimates the expected
performance of asset pools during their relevant terms, by using the
performance data of an originator’s entire portfolio of receivables.
Moody’s also considers the macro-economic trends, and then develops
stress cases for the pools.And in its analysis of member merchants,
Moody’s looks at the risks associated with them, including the risk that
individual sales contracts may be cancelled because of the non-delivery
of goods or services.
American Express Canada has launched “aXcentis”, a comprehensive travel management program that is
local in its delivery and flexible in its design to address the needs of small to mid-sized companies
who previously may not have had access to travel management programs. aXcentis has been designed to ensure companies do not
under-invest or overspend as their need for travel increases in line
with economic revival. aXcentis manages 100% of total travel and expense spending with a focus
program strategy – aXcentis applies proprietary methodology to
evaluate a company’s current travel and expense process, identifies
areas of improvement and matches a comprehensive, business goal-
driven program with clearly defined measurements for return on
travel investment; cash flow management/spend recycling, employing a system to
manage budget spent on unused travel so these resources can be
applied to future trips, which can free up cash to invest in other
business areas and insight and benchmarking. Ongoing program management is handled through a local and dedicated
aXcentis client management team that will work with companies to
optimize their program and provide counsel to help them realize the
greatest return on travel spending. Additional benefits of aXcentis include:
access to exclusive negotiated deals with suppliers and the lowest
total trip costs and an automated travel manager suite, including a pre-trip auditor
and authorization tools, which support travel policy both on and
TX-based ATM provider Cardtronics will present at the “Deutsche Bank
Securities 2010 Small and Mid Cap Conference” on Monday, February 8 in
A simultaneous audio webcast of the presentation will be available
online through the investor relations section of Cardtronicsâ website at
www.cardtronics.com. Cardtronics operates
approximately 33,400 ATMs across its portfolio, with ATMs in every major
market in the United States and Puerto Rico, over 2,600 ATMs throughout
the United Kingdom, and over 2,600 ATMs throughout Mexico. Major
merchant clients include 7-Eleven, Chevron, Costco, CVS/pharmacy,
ExxonMobil, Rite Aid, Safeway, Sunoco, Target, and Walgreens.
Gemalto has acquired mobile authentication provider Valimo Wireless Oy.
Valimo has been a Gemalto partner for 5 years and has pioneered the use of two-channel, two-factor authentication
based on Public Key Infrastructure (PKI), combining an over the air
platform (OTA) with a software client in the SIM to generate a legally
binding electronic signature, any time, any place. Valimo enables mobile
phone users to securely authenticate themselves, digitally sign
documents and confirm legally binding transactions simply by entering a
self-chosen passphrase or a PIN code. Valimo Mobile ID solution
facilitates secure online banking, mobile payments, governmental
services, electronic and mobile commerce, and identity and access rights
management for enterprise applications.
Payment provider Santander has entered into a joint alliance with
Spain-based Santander to provide acquiring services in Mexico. The
alliance establishes a new global foothold for Elavon in a burgeoning
credit card market and capitalizes on an existing relationship with
Santander in Spain, the UK and Puerto Rico. Under the terms of the
marketing alliance, acquiring services will be offered to existing and
prospective Santander merchants. Elavon provides end-to-end payment
processing services to more than one million merchants in the United
States, Europe, Canada
and Puerto Rico. Solutions include credit and debit card processing,
electronic check services, gift cards, dynamic currency conversion,
multi-currency support, and cross-border acquiring. At the end of 2008,
Santander was the
largest bank in the euro zone by market capitalization and third in the
world by profit. Founded in 1857, Santander had EUR 1,168 billion in
managed funds at the end of 2008. Following the acquisition of Sovereign
Bancorp of the U.S. in January 2009, Santander has 90 million customers,
more than 14,000 branches – more than any other international bank – and
INSIDE Contactless open-standard contactless chip technologies is making its Open NFC commercial-grade NFC protocol stack available in a free and open source edition under the Apache License, Version 2.0. INSIDEâs “Open NFC 3.4” is available now for WinCE 6.0 and Linux 2.6 platforms, and an Android implementation will premier with the planned release of Open NFC 3.5 at the end of March. Martineau anticipates that the availability of an open source NFC protocol stack should also improve the interoperability of NFC devices, and thus accelerate market adoption. Open NFC supports several levels of functionality, from low-level RF control to high-level NFC Forum tag handling, peer-to-peer communications as well as Bluetooth and Wi-Fi pairing, interactions with single-wire protocol SIMs and other secure elements and compatibility with smart cards and RFID tags based on Felica, Mifare and ISO 14443 standards.Details
POS hardware provider Radiant Systems has entered into an agreement with
restaurant chain ZoÃ«s Kitchen to install the Aloha Enterprise solution.
The Aloha Enterprise solution helps restaurants in all areas of their
business â from managing day-to-day operations to creating targeted
marketing programs. In particular, the solutionâs online ordering,
takeout and delivery capabilities give customers the convenience of
accessing the restaurant when and where they choose. Not only do guests
enjoy that ZoÃ«s can save their favorite orders and store payment
information in a secure environment to make future orders easier, but
restaurant operators can analyze customer information from these
applications to make better menu and marketing decisions. In addition,
Aloha Enterpriseâs loyalty functionality allows ZoÃ«sâ restaurants to
create loyalty programs that help stimulate repeat business and grow
revenues while also adding additional value to the guestsâ dining