Transaction processing software specialist, Kabira Technologies, has hired Doug Doyle, formerly with ILOG, as vice president of worldwide marketing. The addition of Doyle rounds out Kabira’s management team following other key appointments, including Bradley Rode as COO, Eric Graber as VP of global sales, Mark Phillips as CTO and Sanjay Saini as VP of global customer services. These executive appointments are part of Kabira’s new strategy to align its unique strengths in high volume transaction processing software and the rapidly accelerating needs of real-time, always-on business models. Kabira provides high performance transaction processing software for global enterprises to manage high volumes at a substantially lower cost.Details
PA-based USA Technologies has released a new survey showing that consumers spend 32% more using credit cards in vending machines. The survey results were unveiled at USA Technologies’ cashless vending education session attended by 50 vending operators, bottlers and the media, making it one of the most popular events at the convention. The seminar included speaker presentations from USA Technologies business partners, including MasterCard and Mid Atlantic Vending. USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries.Details
The smallest-ever card-based contactless payment FOB has been certified by MasterCard as a “PayPass” product. The new “VersaFOB” from Oberthur Card Systems is snapped out of a full size card at the end of the production process and then inserted into a key-chain casing. “VersaFOB” is patented, and Oberthur has plans to license the manufacturing and personalization of “VersaFOB” products to additional card manufacturers and commercial personalization bureaus. Oberthur says having the payment device on a keychain is the ultimate in speed and convenience for consumers and merchants. At mid-year there were nearly 10 million “PayPass” cards and devices in the market and approximately 32,000 merchant locations around the world that accept “PayPass,” including McDonald’s, 7 Eleven, CVS, Duane Reade, Sheetz and Regal Entertainment Group. (CF Library 10/27/06)Details
Las Vegas-based Global Cash Access reported third quarter record revenues of $142.9 million, an increase of 21.3% over the same quarter last year. Adjusted cash earnings were $13.6 million, compared to $11.0 million in 3Q/05. The Company also reported that same store surcharge revenue was up 13.3%, cash advance dollars disbursed were up 28.2%, and ATM transaction volume rose 20% in the third quarter. GCA says its “3-in-1 Enabled QuickJack Plus Redemption Kiosk” installations reached 325 as of October 29th and that its new “Arriva Card” produced 1,551 accounts as of October 29th and $5.8 million in transaction volume through October 29th. For complete details on GCA’s third quarter peformance visit CardData ([www.carddata.com]).
Atlanta-based S1 Corporation has named Johann Dreyer, former Group President of S1’s Postilion Business Unit, as CEO, President and Director of S1 Corporation. or the past year, Johann Dreyer has been group president of S1’s Postilion business unit, which includes the ATM/POS, community financial, and international operations that represent nearly 40 percent of the company’s revenue. Dreyer came to S1 nearly two years ago when S1 acquired Mosaic Software, where he was founder and served as CEO of that business. S1 Corporation (Nasdaq: SONE) delivers customer interaction software for financial and payment services and offers unique solution sets for financial institutions, retailers, and processors.Details
TD Canada Trust has partnered with American Airlines to offer the “TD/AAdvantage Platinum VISA.” The new card offers cardholders 10,000 bonus “AAdvantage” miles the first time that they use the card. The card will also allow cardholders to earn one “AAdvantage” mile on every $1 in purchases charged to their card, and double miles on all purchases made with American Airlines and charged to the card. Every year at renewal, cardholders receive a bonus of 2,500 “AAdvantage” miles which ensures that their miles never expire. Miles are redeemable through the “AAdvantage Program” towards flights on American Airlines members of the “oneworld” alliance and “AAdvantage” participant airlines, a network of 21 airlines.Details
MI-based debt collection specialist, Asset Acceptance Capital, posted cash collections of $80.9 million in the third quarter, the highest quarterly collections in the history of the Company, versus cash collections of $78.2 million in the same period of 2005. Revenues declined 7.6% to $59.2 million for the third quarter and net income dropped to $10.7 million, compared with a net income of $13.7 million for 3Q/05. During the third quarter, Asset Acceptance invested $27.6 million to purchase consumer debt portfolios with a face value of $779.5 million, representing a blended rate of 3.54% of face value. For complete details on Asset Acceptance Capital’s third quarter results, visit CardData ([www.carddata.com]).
Smart card specialist, Gemalto, is expanding its operations in Singapore over the next five years, to more than double its overall production capacity. The expansion program, to be rolled out in phases over the next five years, will more than double its overall production capacity. Located at Ayer Rajah Crescent, Gemalto’s Singapore facilities include smart card manufacturing, R & D and Sales and Marketing for the region. Gemalto has the largest R & D team in the industry, with over 1,500 R & D engineers globally, and a dedicated team in Singapore since 1997. Gemalto (Euronext NL 0000400653 GTO) is a leader in digital security with pro forma 2005 annual revenues of EUR1,7 billion ($2.2 billion), operations in 120 countries and 11,000 employees including 1,500 R&D engineers.Details
Chase Paymentech Solutions, Global Payments, HSBC and Washington Mutual have joined the Financial Coalition Against Child Pornography. Chase Paymentech Solutions, LLC, headquartered in Dallas, Texas, is the world’s largest merchant acquirer accepting payments via traditional point of sale, hospitality, Internet, retail, catalogue and recurring billing. Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies, multi-national corporations and gaming establishments located throughout the United States, Canada, Latin America, Europe and the Asia-Pacific Region. HSBC — North America comprises all of HSBC’s U.S. and Canadian businesses, including the former Household International businesses. Washington Mutual, through its subsidiaries, is one of the nation’s leading consumer and small business banks.Details
MasterCard Worldwide unveiled a new television spot starring Indianapolis Colts’ quarterback Peyton Manning. The 30-second “Priceless” ad will debut on November 5th on NBC. Entitled “Die-Hard Peyton,” the ad again features Manning in a role-reversal, playing a “fan of the fans,” cheering for everyday workers the same way they support him when he plays – even when he might not be at the top of his game. Creative for MasterCard’s “Priceless” campaign is handled by McCann-Erickson/New York.Details
Hypercom posted a 15% decline in revenue for the third quarter due to a drop in multi-lane product revenue which is now being transitioned into an indirect sales model. The terminal maker also posted a gross profit for the third quarter of $18.9 million, compared to $25.5 million for 3Q/05. Revenue for the third quarter was $56.7 million, compared to $66.5 million of revenue in the same quarter of 2005. During the quarter, Hypercom inked a deal with Total Merchant Services to purchase 20,000 of “Optimum T4100” terminals and United Bank Card “Class A” certified the “Optimum T4100.” One of the largest retailers in Europe, El Corte Ingles, with 300 department stores, hypermarkets, supermarkets, and smaller convenience stores, selected Hypercom as its preferred provider of card payment PIN entry devices including the “Optimum P2100” PIN pad. Additionally, Aon Warranty Group signed a multi-year agreement to provide extended warranty services for select Hypercom payment terminals, enabling Hypercom customers to extend their warranty coverage to five years. Hypercom also noted that the “Optimum T4100” became the first card payment terminal to gain certification under MasterCard Worldwide’s new “Payment Terminal Security Program” for IP-based transactions. The Company expects fourth quarter revenue to be in the low-to-mid $60 million range. For complete details on Hypercom’s third quarter results, visit CardData ([www.carddata.com]).
HYPERCOM REVENUE HISTORICAL
3Q/04: $62.8 million
4Q/04: $74.6 million
1Q/05: $50.6 million
2Q/05: $60.2 million
3Q/05: $66.5 million
4Q/05: $68.1 million
1Q/06: $61.0 million
2Q/06: $66.1 million
3Q/06: $56.7 million
Source: CardData (www.carddata.com)