Ingenico Revenues Up 4% for 2005

Ingenico reported 436.9 million euros in consolidated revenue for last year, up 3.7% from 2004. The company blamed delivery
problems for the lackluster growth. However, Ingencio also took a restructuring charge and a non-recurring litigation charge.
As part of a restructuring plan announced in September, Ingenico moved during the first quarter of 2006 to sell off several subsidiaries including Debitek to Heartland Payment Systems in February; Ingenico Sweden was sold to BBS in March; and ITS was sold to American Express in March. Ingenico is forecasting revenue growth of more than 15% in the first quarter. For complete details on Ingenico’s latest performance visit CardData (www.carddata.com).

Details

VeriFone Opens International Headquarters

VeriFone Holdings announced the official opening of
VeriFone Singapore Pte. Ltd, its international headquarters located at
RCL Centre. VeriFone’s international management team based here will
spearhead the organization’s global supply chain and serve as the focal
point for R&D functions, regional finance and administration, and sales
and marketing activities across Australasia, South East Asia and the
Indian Sub-Continent. The center employs the latest
technologies to contribute to an increase in supply chain efficiencies
and cost savings as well as in its speed and flexibility of response to
regional customer demands and market opportunities. The organization
will manage in excess of $200 million in annual procurement and outsourcing
services and will play a key role in VeriFone’s continuing international
expansion, with
responsibility for all operations in the Asia Pacific and Europe,
Middle-East, and Africa (EMEA) regions, including expanded operations in
Manila, a new development center in Bangalore, and recently opened
facilities in Poland.

Details

Speedpass Adds Instant Activation

ExxonMobil has introduced “Instant Activation” for its “Speedpass” contactless payment system. Consumers can now open and use their “Speedpass” account within two minutes via a hand-held computer. Through December 31st customers who enroll and activate a new account at an “Instant Activation” store event will earn a 5-cent per gallon rebate for a 90-day period from the date of activation (up to a maximum of $20 per account). In states where the rebate is prohibited by law customers will receive a $20 “ExxonMobil Cash Card.” Exxon launched the “Speedpass” program in 1997 and has issued more than six million fobs to-date in the USA. “Speedpass” is accepted at more than 8,800 Exxon and Mobil retail locations.

Details

National Data Protection Bill Passes

The U.S. House Financial Services Committee yesterday passed the “Financial Data Protection Act of 2005.” “H.R. 3997” was passed by a 48-16 vote. Consumer advocates passionately oppose the legislation since the bill preempts state laws and enables companies to decide how to handle the disclosure of breaches involving the compromise of sensitive data. The bill also does not regulate the activities of data aggregators. It will also limit consumers ability to put a security freeze on their credit reports. Meanwhile, bank industry advocates say the bill strikes the right balance between securing personal financial data and preserving an efficient marketplace. The ABA notes that banks already have a regulatory system to handle response and notification of security breaches and the bill passed yesterday will merely extend these type of standards to all businesses.

Details

VISA to Use UFJ NICOS Smartplus

Mitsubishi UFJ NICOS Co. has agreed to cooperate with VISA
International for the expansion of contactless payment using the
contactless IC credit payment scheme “Smartplus” developed by UFJ NICOS.
Low-value payments using contactless IC as a payment method are
getting popular particularly in public transportation. Furthermore,
users of “Osaifu-keitai”- mobile handsets with contactless IC embedded
with optional functions of electronic money payment or credit card
payment – are expanding as mobile phone operators market these models as
their main product. Multiple contactless payment (“Keitai credit”)
services are under operation to expand the credit usage in the cash
market. “Smartplus” can be provided on a plastic
card, and corresponds to all the “Osaifu Keitai” released from each
mobile phone operator. UFJ NICOS will start providing “Smartplus” which
corresponds to VISA contactless payment specifications by May 2006, and
DC by August, 2006. The number of “Smartplus” members is estimated to
expand to 2 million by 2008.

Details

Internet Gambling Bill Rises Again

The U.S. House Financial Services Committee this week again approved a bill that would ban payment card use for Internet gambling. Checks, wire transfers and EFT will also be prohibited for illegal Internet gambling transactions. The proposed law would essentially make Internet gambling illegal for all U.S. consumers within the U.S. However, some online betting for fantasy sports and horse races would be permitted. This is the third time the Committee has passed this legislation, first in October 2002 and again in June 2003. Both bills stalled in the Senate. The Committee estimated that Americans spend about $6 billion in offshore Internet gambling each year.

Details

AmEx Offers Incentives for Tax Payments

American Express is offering double rewards through April 17th for tax payments via its “Delta SkyMiles Card” and the “Starwood Preferred Guest Card”. Now through April 17, 2006, Delta SkyMiles Credit Cardmembers can earn double SkyMiles and can also earn one mile for every eligible dollar spent when paying their state income taxes on the Card. Starwood Preferred Guest Cardmembers can also earn double Starpoints on the first $5,000 of their 2005 personal federal income tax payments when paying with the Card and can earn one Starpoint for every eligible dollar spent when paying state income taxes. This year marks the first time the IRS has allowed businesses to pay their balance due on their federal business taxes (Form 940 and Form 941) using an American Express Card. This is in addition to paying the balance due on state and local business taxes.

Details

SCM Microsystems’ Revenue Up 7% in Q4

SCM Microsystems reports fourth quarter revenue of $14.4 million, up 7% compared to the fourth quarter of 2004. Gross margin in the fourth quarter benefited from a net release of reserves for inventory previously written down of approximately $0.7 million, offset by $0.3 million in severance costs related to the outsourcing of manufacturing operations at the company’s Singapore facility. Operating expenses, as reported in accordance with GAAP, were $7.5 million in the fourth quarter of 2005, including net charges for amortization of intangibles, restructuring and other items of $0.3 million. This compares with operating expenses, as reported in accordance with GAAP, of $7.7 million in the fourth quarter of 2004, which included $0.6 million of net charges for amortization and impairment of intangibles, restructuring and other items. Operating loss for the quarter, as reported in accordance with GAAP, was ($2.1) million, as reported in accordance with GAAP, compared with operating loss of ($3.0) million in the year ago quarter.

Details

Online Debit to Surpass Credit by 2007

JupiterResearch has released a report titled “US Online Payments Forecast, 2005 to 2010” which projects that debit transaction volumes on the Internet will surpass credit by 2007. The following questions are addressed within the report: How will the mix of online transactions shift between credit and debit by 2010? What factors are driving the Internet purchasing shift from credit to debit, and how should the online payments value chain respond? In what online purchasing categories will alternative payment systems be most prevalent in 2010, and what types of alternate payments will predominate?

Details

Automated Collections Solution is Upgraded

Atlanta-based Premiere Global Services has upgraded its “Collections Accelerator” solution to provide an automated method of payment capture for ACH/debit card users. The Collections Accelerator solution uses innovative communication technologies to make it easier for enterprises to contact their past-due customers and collect payments through a simple voice interface, helping to reduce days sales outstanding (DSO) by improving payment rates. Collections Accelerator, Powered by Premiere, reduces costs associated with the printing and mailing of statements and past due notices and enables enterprise customers to reduce the amount of receivables they assign to higher-cost third-party collections companies.

Details

SCA Transportation Council Moves Forward

The Smart Card Alliance Transportation Council announced upcoming project plans and new officers, including its new Chair Paul Korczak from MTA New York City Transit. First year Council participation exceeded expectations, including ten top tier U.S. transit agencies. In addition to transit agencies, the Council’s 43 members represent a cross-section of the industry, including chip and card suppliers, transportation system suppliers, systems integrators and financial services providers. The Council’s first major accomplishment was publishing the white paper, Smart Cards and Parking, available at www.smartcardalliance.org. Council priorities for 2006 include exploring linkages between transit payment and new contactless financial payment approaches, collaborating with the APTA Universal Transit Farecard Standards Taskforce to examine the need for a security specification for the UTFS standard for transportation electronic payment systems, expanding on parking activities of the past year to engage with organizations deploying parking payment solutions and to discuss linkages between existing transit payment approaches and parking payment systems developing a white paper describing multi-use vs. multi-application cards for transit payment.

Details

Cash Systems’ Q4 Revenues Climb 28%

Las Vegas-based Cash Systems posted a 28% increase in revenue for the fourth quarter to $16.4 million, compared to 4Q/05. However, the casino cash access specialist posted a net loss of $2.5 million for the quarter compared to net income of $705,000 in the fourth quarter of 2004. Cash Systems cited expenses related to Sarbanes-Oxley, Triple DES upgrades, and stock option expenses as the factors. Revenue for the year was up 30.5% to $63.2 million. The Company expects revenue of approximately $82 million this year. For complete details on Cash System’s latest results, visit CardData ([www.carddata.com][1]).

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

Details