TSYS Opens Madrid Office

TSYS Europe has opened a new office in Madrid, TSYS Europe
SL. Under the leadership of Jose-Luis Rojas, who has served as director
of business expansion in southern Europe since 2003, TSYS Europe SL will
support project management and client relationships in Spain and the
surrounding region. TSYS provides outsourced payment services,
offering a broad range of issuer and acquirer processing technologies
that support consumer finance, credit, debit and prepaid services.

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Global Axcess’ Q1 Revenues Up 11%

FL-based Global Axcess reported first quarter revenues of $5.2 million, compared to $4.7 million for the same period of 2005. Gross profit was up to $2.3 million for the quarter, compared to $2.0 million for the same period of 2005. The Company says it operating expenses increased due mainly from increased ATM, software and acquisition costs, plus an increase in selling and general and administrative costs. Global Axcess says it is pleased with its rapid revenue growth, but continues to seek ways to improve its financial performance. The Company recently hired Raymond James to review strategic alternatives. For complete details on Global Axcess’ first quarter performance, visit CardData ([www.carddata.com][1]).

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

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M&T Moves to Windows ATM Platform

OH-based M&T Bank has purchased 390 NCR “Personas 77” ATMs. M This investment, which includes NCR’s APTRA Edge software, represents a step forward in M&T Bank’s transition to an open architecture software platform to drive its ATM channel. NCR’s Personas 77 is a free-standing ATM, designed for medium- to high-volume interior locations. This unit offers a full range of security options, including remote key management and dual-safe variations, greater reliability and serviceability.

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Pipeline Data’s Q1 Profit Doubles

MA-based Pipeline Data reports that gross profit for the first quarter grew 121% to $2.9 million. The net loss for the quarter was $353,577 due to merger expenses related to Aircharge and Charge.com, the the acceleration of unvested employee stock options, increased amortization and additional interest expense associated with the AIRCHARGE and Charge.com mergers and delayed rollout expenses associated with the launch of the AIRCHARGE national marketing campaign. Pipeline Data services more than 25,000 accounts nationwide. For more details on Pipeline’s first quarter performance, visit CardData ([www.carddata.com][1]).

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

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LaserCard Profits Soar Sequentially

California-based LaserCard’s first quarter net income rose 58% sequentially to $1.9 million as the Company posted a net loss of $3 million in the same quarter a year ago. Revenue from optical memory cards totaled $28.2 million in fiscal 2006, an increase of 64% over the $17.4 million for fiscal 2005. Revenue from specialty cards and printers totaled $10.7 million in fiscal 2006 versus $10.2 million in fiscal 2005, with the remaining revenues coming from read/write drives. LaserCard Corporation manufactures and markets LaserCard optical memory cards with IDLock, chip-ready Optical/Smart cards and other advanced-technology secure identification cards.

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Comdata Fleet Card Takes Texas

Comdata and TransMontaigne have inked a four-year contract to provide a fleet card to the state of Texas’ 30,000 vehicles. Comdata will provide a tax-exempt program through its alliance with TransMontaigne, a supply chain management provider. Comdata will also provide fuel discounts and line-item detail for the state’s 30,000 vehicles under a four-year contract. The Comdata card will have universal acceptance in the Mastercard network for all vehicles that apply. The card will also be available for auto-related goods and services.

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CTFS 1Q/06

Canadian Tire Financial Services reported that its net managed credit card receivables for the first quarter increased 15% year-over-year to $3.29 billion. The average credit card balance in the first quarter hit $1832, up 14% from one-year ago, largely driven by the rollout of the “Gas Advantage MasterCard” in Ontario and the increase in the personal loan portfolio. For the prior quarter, the average credit card balance came in at $1698. The average number of accounts with a balance during the quarter was 1.8 million. Financial Services’ pre-tax earnings of $29 million were up 14% from the first quarter of 2005. CTFS notes that revenue growth lagged receivable growth due to the changing mix of the portfolio towards lower rate cards and personal loans. Canadian Tire’s MasterCard receivables represent approximately 92% of CTFS’ total managed portfolio. CTFS’ retail credit card and personal loan receivables make up the remaining nine percent of the portfolio. Financial Services’ plans for the year include increasing the total managed portfolio to $3.6 billion. For complete details on Canadian Tire Financial Services’ first quarter performance, visit CardData (www.carddata.com).

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BioPassword Signs 48 VARS Worldwide

BioPassword reports it has signed 48 VARS in 18 countries to offer its software-only authentication and fraud reduction technology. By validating the typing rhythm of the userID and password entry, BioPassword can authenticate users over the Internet to prevent online fraud as well as authenticate the credentials of customers, partners and employees by creating a biometric template from user logon credentials.

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OTI Acquires Contactless Specialist InSeal SAS

On Track Innovations has acquired 100% of Marseille-based InSeal SAS
share capital. The transaction will expand OTI’s
presence in the growing contactless industry as well as strengthening
its technological team and broadening its intellectual property base.
InSeal’s revenues for 2005 were approximately $560,000 with about
breakeven operating results. InSeal’s revenues, which are expected to
grow rapidly, are derived mainly from licensing and engineering fees.
InSeal SAS provides an operating system for contactless applications.

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PubliCARD Decides to Unwind

New York based smart card specialist PubliCARD yesterday said in its first quarter report that it is unlikely it will be able to continue as a going concern. Revenues for the first quarter of 2006 were $749,000, compared to $751,000 in 2005. The Company reported a net loss for the quarter ended March 31, 2006 of $449,000, or $0.02 per share, compared with a net loss of $719,000, or $0.03 per share, in 2005.

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BB&T Opts for the Benny Card

BB&T has selected the Evolution Benefits’ “Benny” prepaid benefits card to expand its health care management options to its employees and its customers. The Benny prepaid benefits card applies advanced payment technologies and pioneering electronic substantiation methodologies to give employees access to FSAs, HSAs, HRAs and Qualified Transportation Accounts on a single card.

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iPayments 1Q/06 Profits Up 9.5%

Nashville-based iPayment reported that first quarter revenues increased 4.6% to $170.9 million. Revenues, net of interchange, were $72.8 million compared with $66.5 million for 1Q/05. Net income was up 11% to $7.6 million, compared to one-year ago. iPayment recently completed a merger with its related entities and was delisted from NASDAQ last week. The Company is a provider of credit and debit card-based payment processing services to approximately 140,000 small merchants nationwide. For complete details on iPayments’ latest results, visit CardData ([www.carddata.com][1]) (CF Library 5/11/06)

Historical iPayment Revenues
1Q/05: $163.4 million
2Q/05: $181.1 million
3Q/05: $175.2 million
4Q/05: $183.0 million
1Q/06: $170.9 million
Source: CardData (www.carddata.com)

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

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