Fiserv’s ACCEL/Exchange Network reported that it grew its in-network transaction totals by 46% last year, signed 400 new members, including more than 210 credit unions and added 60,000 ATMs and 200,000 POS locations during the past year. Year-over-year transaction totals were 410 million in 2005, up from 281 million in 2004. The Network’s ATM transactions rose 27% to 52 million in 2005 from 41 million in 2004 and POS transaction activity increased 49% to 358 million in 2005 from 240 million in 2004. ACCEL/Exchange transactions are now enabled at more than 100,000 ATMs and 500,000 merchant locations throughout North America. The business unit operates more than 17,000 ATMs and currently processes approximately 435 million ATM and debit transactions per month.Details
GIFTS Software announced that Banco Bilbao Vizcaya Argentaria, New York has selected its “eGIFTS” funds transfer and payment
solution. eGIFTS is available on multiple platforms such as the IBM
“Pseries” and is a browser-based system. No special software is required
on the user PC. BBVA provides multinational financial services in 32 countries.
Denver-based ConnectYourCare has selected and completed integration with First Data Healthcare Services as its exclusive provider of single-source processing services for its entire suite of healthcare accounts. First Data will deliver healthcare card services, including a state-of-the-art transaction card processing solution that provides a convenient and secure vehicle for members to access their fund contributions at the point of care. The ConnectYourCare Solutions includes a single debit card and portal for employees to manage tax-advantaged accounts, claims adjudication and call center services, and comprehensive medical information and decision-support tools.Details
Cineplex Entertainment and MasterCard
Canada have teamed up to enable moviegoers carrying PayPass-enabled
MasterCard cards to pay for tickets and concession items by simply
tapping their cards at designated PayPass readers in three theatres in
the greater Toronto area and will expand the program to more than 100
Cineplex Entertainment theatres across the country throughout 2006.
Cineplex Entertainment LP owns, operates or has an interest in 130
theatres with 1,275 screens and is the largest motion picture exhibitor
Target reported that its pre-tax credit card profits for the quarter ending January 28th increased 43% over the year-ago quarter and 22% sequentially. Credit card outstandings increased 13%, topping $6 billion compared to 4Q/04. Target’s fourth quarter pre-tax credit card profits were $192 million, compared to $158 million in the prior quarter and $134 million one-year ago. Target reported that its total credit card receivables, which include its VISA and “Guest” cards, were $6.18 billion as of January 28th, compared to $5.46 billion one-year ago. Delinquency (90 days+) for 4Q/05 declined to 2.8%, compared to 3.2% in the prior quarter and 3.5% one-year ago. Charge-offs were 6.5% for 4Q/05 compared to 8.1% in the prior quarter and 7.6% one-year ago. Target’s credit card unit had revenues of $342 million in 4Q/05, a 19% increase over 4Q/04. For complete details on Target’s latest performance, visit CardData ([www.carddata.com]).
TARGET CARD LOAN HISTORICAL
(Excludes Mervyn’s & Marshall Field’s)
4Q/04: $5.456 billion
1Q/05: $5.251 billion
2Q/05: $5.421 billion
3Q/05: $5.544 billion
4Q/05: $6.177 billion
Source: CardData (www.carddata.com)
Shanghai-based Blue Bamboo announced that its H50 terminal has
been certified under the new “Payment Card Industry PIN Entry
Device” standards established by VISA and MasterCard. The Company is the
first company to certify a Java based STIP transaction device. Blue
Bamboo designs, develops and markets transaction technology.
Hypercom has installed 100 “VISA Contactless” terminals at AT&T Park for the San Francisco Giants. In Visa trials, contactless payment card transactions proved an average of 25 percent faster than using cash. To date, there are 4 million Visa Contactless cards issued worldwide and 20,000 accepting merchant locations in the United States.Details
Hypercom and Communications Intelligence Corp. have partnered to integrate CIC’s “SignatureOne” suite of biometric and electronic signature products with Hypercom’s 32-bit “Optimum L4100” and “Optimum 4250” signature capture card payment devices. Under the terms of the agreement, CIC will license its complete SignatureOne(TM) suite of biometric and electronic signature products to Hypercom, initially for incorporation into Hypercom’s 32-bit Optimum L4100 and L4250 signature capture card payment devices and for resale. The companies are jointly pursuing additional opportunities in the financial services, retail and health care markets. Communications Intelligence is a supplier of electronic signature capture solutions for business process automation in the financial industry and the recognized leader in biometric signature verification.Details
NJ-based Heartland Payment Systems posted fourth quarter revenues of $227 million, a 35% gain over the fourth quarter of 2004. Net income for the quarter was $5.5 million compared to net income of $2.3 million for 4Q/04. The Company says over 69% of new merchants installed and 58% of total transactions this quarter were on HPS Exchange, helping reduce processing and servicing expense in the quarter to 10.0% of revenues from 12.1% a year ago. Processing volume for the three months ended December 31st increased 32% to $9.1 billion. HPS’ active merchants count rose to 110,500 at year-end, a 24% increase over the past twelve months. For complete details on Heartland Payment Systems’ fourth quarter performance, visit CardData ([www.carddata.com]).
Arizona-based Relay Capital Corp. has acquired Canada’s Bux Cash Card. The First Cash Card debit card can be used at over 5 million ATM machines and over 1 million Point of Sale (POS) terminals worldwide. Its principle growth has been in the check cashing industry where employees can obtain a First Cash Card at no charge. First Cash Cards allows $2,500 in ATM daily withdrawals and $2,500 in POS transactions. Relay Capital Corporation is a developer and marketer of prepaid financial services. First Cash Card provides debit cards to the unbanked and underbanked in Canada.Details
San Francisco-based Pay By Touch has hired Drew Hyatt as SVP and Elizabeth Yata as VP/Group Product Manager to lead its banking and credit authorization services. Hyatt was president of HNC Software’s Financial Solutions Group and SVP and corporate officer of Digital Insight. Yata was formerly with Bank of America, holding numerous product management positions including VP and group product manager for both retail and wholesale banking services. Prior to BofA, Yata spent nine years in various roles at VISA USA, including SVP of service management. In January the firm closed more than $60 million in new financing, raising more than $190 million during the past three months. (CF Library 1/27/06)Details
Atlanta-based sub-prime specialist CompuCredit reported that profits collapsed in the fourth quarter due to the recent surge in bankruptcies. Net income declined from $26.9 million one-year ago to $3.0 million for 4Q/05. Net charge-offs, based on average credit card loans, rose to 13.4% from 10.4% in 3Q/05 and 12.0% in the fourth quarter of last year. Delinquency (60+ days) declined to 9.3%, compared to 9.6% in the prior quarter. One-year ago delinquency stood at 10.4%. Total managed receivables for the fourth quarter were $2,493,244,000, a 14% increase compared to one-year ago. As of December 31st, CompuCredit had 3,588,000 accounts, compared to 2,963,000 at the end of 2004. The issuer added a record 477,000 accounts in the fourth quarter. The net interest margin was 22.4% in the fourth quarter, as compared to 23.2% for the third quarter and 20.2% one-year ago. For complete details on CompuCredit’s fourth quarter performance, visit CardData ([www.carddata.com]).
COMPUCREDIT NET INCOME SNAPSHOT
4Q/04: $26.9 million
1Q/05: $49.2 million
2Q/05: $66.5 million
3Q/05: $52.7 million
4Q/05: $ 3.0 million
Source: CardData (www.carddata.com)