Intersections’ Q1 Revenue Leaps by 48%

VA-based Intersections reported revenue for the first quarter of $85.9 million, a 48% increase over the first quarter of 2007. Net income for the quarter was $3.4 million, compared to $484,000 for 1Q/07. The revenue growth was driven by increases in direct marketing enrollments and the percentage of revenue coming from direct marketing programs. Total subscribers increased to approximately 5.6 million, about 300,000 more than the prior quarter. Subscription revenue, net of marketing and commissions associated with subscription revenue, increased to $46.6 million a 46% year-on-year gain. During the quarter, the Company acquired membership agreements from Citibank for approximately $30.2 million. For complete details on Intersections’ first quarter performance visit CardData. ([www.carddata.com][1]).

[1]: http://www.carddata.com

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DMRC CITIBANK CARD

The first card in India that combines the Delhi Metro Rail “Metro Smart Card” and a “Citibank Credit Card” has been launched. The new “Delhi Metro Citibank Credit Card” offers reward points that can be redeemed for free Metro rides. Additionally, it offers double reward points for Metro spending and will not require the mandatory security deposit of Rs 50. Plus, the card offers “Special Privileges” which offer a 10% discount on travel fare paid; two points for every Rs.100 spent on the Metro and one point for every Rs 100 spent elsewhere. The Delhi Metro began operations in Delhi in 2002 and covers over 65 kms in Delhi.
Current ridership is about 650,000.

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Five Earn ICMA ACE-M Accreditation

The International Card Manufacturers Association has awarded five members the first designation of “Advanced Card Education”, recognizing their knowledge, experience and dedication to plastic card manufacturing. Among those awarded with the “ACE-M” accreditation is Guy Meeker of the CPI Card Group, Mark Powell of Giesecke & Devrient, Daniel Szumski of CFC International, Eric Virostek of Giesecke & Devrient and James Ward of Allegheny Plastics Inc. Future designations will include ACE-A (advanced technologies) and ACE-P (personalization) awarded to representatives of ICMA member companies for detailed knowledge of PVC/Plastics, Inks, Adhesives, Printing, Collation, Lamination, Die-cutting and Standards/Testing.

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ACI Selected for MasterCard’s New IPS

MasterCard has selected ACI’s electronic payment solutions as key elements of its “Integrated Processing Solutions.” ACI’s “BASE24-eps” serves as the retail payment “engine” for the MasterCard debit processing platform, leveraging “BASE24-eps” for ATM transaction acquiring, transaction clearing, and related electronic payment functions. In addition, MasterCard uses ACI “Payments Manager” to monitor all transaction activity, provide customer support features and manage payment settlement functions. “BASE24-eps” uses an open systems advanced architecture to provide intelligent transaction authentication, authorization and routing capabilities, as well as support for advanced ATM features from the leading vendors.

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Hypercom Q1 Revenue Rises 11% Y/Y

Hypercom reported that first quarter revenue rose nearly 11% to $71.7 million and the net loss decreased $2.2 million, compared to the prior year quarter. During the quarter the Company completed the acquisition of Thales SA’s e-Transactions business, a top provider of card payment solutions in Europe. Product revenue for the first quarter was up 3% to $49.6 million, driven by strong countertop sales in the USA. Service revenue for the quarter rose 33% to $22.1 million due to an increase in service volume in South America and Asia-Pacific. During the quarter the Company introduced the “Optimum M4200” series of mobile electronic payment terminals and the “SmartPayments EasyRetail” electronic payment processing software. Also, Heidi Goff former MasterCard top executive, was named President and Managing Director of the Americas. For complete details on Hypercom’s first quarter performance visit CardData ([www.carddata.com][1]).

HYPERCOM REVENUE HISTORICAL
1Q/06: $61.0 million
2Q/06: $66.1 million
3Q/06: $56.7 million
4Q/06: $64.8 million
1Q/07: $64.8 million
2Q/07: $67.5 million
3Q/07: $70.8 million
4Q/07: $90.7 million
1Q/08: $71.7 million
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

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VeriShield Protect Added to Secure PumpPay

VeriFone Holdings is extending the “VeriShield Protect” credit and debit card encryption to its PCI-approved “Secure PumpPay” solution. VeriShield Protect was developed to prevent compromise of cardholder data even in the event of a breach. “VeriShield Protect” shields credit and debit account information from the moment a card is swiped until the data is received at a secure decryption appliance located in a merchant’s secure data center, at an off-site service provider, or at an acquirer or processor organization. The “VeriShield Protect” system employs a breakthrough technology called H-TDES(TM) (Hidden-Triple Data Encryption Standard) to encrypt the personal account number (PAN) and magnetic-stripe track data in a manner that other applications interpret as valid card data. The data is encrypted within the tamper resistant security modules of VeriFone’s PCI-approved payment systems so that it can safely be transmitted over retailer networks to a centralized secure decryption appliance from Semtek Innovative Solutions Corp., the developer of H-TDES.

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Consumer Spending Outlook Remains Grim

A monthly barometer of consumer spending intentions shows a slight up-tick for April. However, consumer’s economic and personal finance outlook remains grim. The latest “Discover U.S. Spending Monitor” posted an 85.4 reading compared to 85.1 in March. For the last four months including April, the Monitor has remained in the 85-86 range. The number of consumers who say they are spending more, particularly on household expenses, rose for the third straight month to 38%. Lower and middle income consumers hit record highs in April in curtailing their discretionary spending, with 57% of those making under $40,000 and nearly 54% of consumers making $40,000-$75,000 planning to spend less on discretionary personal purchases. While still low compared to numbers reported last fall, 13% of upper income consumers feel that economic conditions are getting better, up nearly two points from March. And 24% rate their personal finances as excellent, also up two points from March.

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CyberSource to Open a Belfast Development Center

CA-based CyberSource has announced plans to open a development center in Belfast, Northern Ireland, which will be fully integrated with the organization’s 4 existing development centers with a projected employment of 20 engineers and support staff for its first year. Providing CyberSource with assistance in establishing this staff and providing development support with 840,000 pounds Sterling is Invest Northern Ireland. Invest Northern Ireland is focused on sustaining value-added, internationally competitive industry across the Northern Ireland region and will allow CyberSource to accelerate growth without increases in expected expenses with its investment.

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Fuelman Network Joins MC EasySavings

MasterCard has added the “Fuelman Network” to its “Easy Savings” program. This is the first payments company to offer small businesses automatic savings on fuel and maintenance. MasterCard “BusinessCard” credit and signature debit cardholders enrolled in the program will now receive savings on fuel and maintenance purchases at more than 16,800 participating locations in the “Fuelman Network” nationwide. “BusinessCard” cardholders enrolled in the “Easy Savings” program receive a 1% automatic rebate on gas and diesel) at more than 15,000 gas stations in the “Fuelman Network,” and a 5% rebate on all maintenance purchases made at the more than 1,800 participating Fuelman Network maintenance locations across the country.

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Intersections’ IDENTITY GUARD Expands

Intersections has made a major enhancement to its “IDENTITY GUARD Total Protection” service by adding a feature that provides secure storage and access to personal records and financial accounts via cell phone or PDA making it convenient to monitor all of your financial records any time. “MOBILE LOCKBOX” uses easy-to-use software allowing the user to store and access virtually any kind of personal information anytime, anywhere via computer, cell phone or PDA. “IDENTITY GUARD Total Protection” helps consumers protect their credit from identity theft, and also provides 360-degree protection on the Internet, on PCs, or when traveling.

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Yodlee and Postilion to Integrate Solutions

CA-based Yodlee and payment solution provider Postilion have announced a partnership to integrate Yodlee PersonalFinance and Yodlee DirectPay into Postilion’s Retail and Business Internet Banking solutions. Yodlee DirectPay is Yodlee’s proprietary card-based payment network and its 300 DirectPay billers represent over 40 percent of major U.S. billers by volume which enables consumers an opportunity to pay nearly half of their monthly bills with a card. For consumers, it means the flexibility for later payments, the ability to earn rewards points, and, in most cases, same-day payment credit. For financial institutions that issue credit or debit cards, DirectPay opens up significant new sources of interchange revenue driven by bill pay. The Postilion self-service solutions, including Retail and Business Internet Banking, Voice Banking, ATM Driving, Card Management, and Mobile, are packaged and developed to run on a single platform, easily configurable and administered through a single management portal to meet the varying needs of community banks and credit unions.

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IntelliCAT System Interfaces to Ultradata Software

E-transaction provider MagTek’s “IntelliCAT” instant card issuance system now offers interoperability with Harland Financial Solutions “Ultradata” processing software for credit unions. The “IntelliCAT” System allows Credit Unions to offer enhanced services for their various card products such as instant issuance and secure PIN selection for Debit, Credit, ATM and Gift cards. With IntelliCAT, members can now change their PIN on an existing card, or select their PIN when opening a new account or ordering a new MasterCard or VISA Debit card. MagTek is a provider of electronic transaction technology, from magnetic stripe card readers and writers to high-accuracy MICR check readers and scanners, secure PIN issuance and cardholder verification systems.

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