Heartland Revenues Rise 39% in the 3Q/05

NJ-based Heartland Payment Systems posted third quarter revenues of $228 million, up 39% compared from one-year ago. Net revenue, which is total revenue less interchange and dues and assessments, was $50.9 million in the third quarter, an increase of 35.4% from 3Q/04. This is the first quarter that Heartland has been public. Bank card processing volume for the third quarter increased 36.1% to $9.3 billion. Record processing volumes reflect a continued rapid expansion of the Company’s active merchants, to 106,500 at September 30th, a 25.5% increase from September 30, 2004. The Company also installed 11,670 merchants in the quarter, a 12.1% increase from the third quarter of 2004. Processing and servicing expense declined to 9.9% of revenues during the quarter as over 67% of new merchants installed and 55% of total transactions were on its internally developed front-end processing system HPS Exchange. For complete details on Heartland’s latest performance, visit CardData ([www.carddata.com][1]).

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

Details

Deloitte Projects Holiday Sales to Rise 6%+

Deloitte’s “Annual Holiday Mood Survey” shows that 68% of households are likely to spend the same or more this year than last. Consumers in Southern California are slightly more optimistic, with 72% planning to spend the same or more during the holidays than last year. Deloitte says non-auto holiday sales will increase in the 6% to 6.5% range during the November-to-January period, less than last year’s exceptional 8.6% increase, but still above the last decade’s average growth rate. Gift cards remain the #1 gift purchase this year, with 67% of nationwide respondents indicating that they will purchase an average of 4.9 cards, making them even more popular than last year, when 64% nationally purchased an average of 4.7 cards. Nearly 70% of consumers nationwide will spend some of their holiday budget on the Internet, which represents 21% of their total holiday spending.

Details

GE Money Has Launched Mortgage Business

GE Money Canada has launched its mortgage business, offering residential
mortgages through brokers in Ontario with plans for other Canadian
markets soon. Known as non-prime mortgages, the GE Money mortgage
offering is primarily directed to consumers who may find it difficult to
qualify for traditional, bank-originated mortgage loans. These include
individuals who are self-employed, new to Canada or those with less than
perfect credit. GE Money Canada, part of GE Consumer Finance-Americas,
provides private label and MasterCard credit card programs and lending
options for retailers in key industries.

Details

U.S. Bank & Northwest Missouri State U Team

U.S. Bank and the Northwest Missouri State University Alumni Association have partnered to introduce the “Northwest Missouri State University Platinum VISA.” Two card styles are available – one featuring the university’s administration building and the other featuring the athletic Bearcat paw print. Cardholders may choose the standard Visa Platinum Card, or one of two rewards programs including the Cash Rewards Visa Platinum Card or Select Rewards Visa Platinum Card. The Northwest Missouri State University Alumni Association fosters lifelong relationships through initiatives and opportunities that advance the University and its alumni, future alumni and friends.

Details

Wright Express Renews Getty Petroleum Deal

Getty Petroleum Marketing has inked a five-year contract extension with Wright Express which has administered and offered a proprietary branded fleet card for Getty since 1986. Getty currently markets fuel under both the Getty and LUKOIL brands at approximately 1,300 Getty branded sites and at many new LUKOIL branded locations. The new business agreement also launches new, LUKOIL branded charge cards. These cards extend volume discounts to all current and future Getty / LUKOIL fleet customers, along with an expanding network of convenient locations offering quality fuel and convenience products.

Details

Bank Al Bilad Deploys Commerce Framework

ACI Worldwide has announced that Bank Al Bilad has licensed several
products including “BASE24,” “ACI Smart
Chip Manager,” “ACI Card Management System” and “ACI Proactive Risk
Manager.” The newly established Saudi Arabian commercial bank
selected ACI software to provide an end-to-end payment processing
infrastructure. Bank Al Bilad opened for business in May and was
created by a consortium of eight of the leading financial institutions
in the region with a combined capital of three billion Saudi Riyals
(approximately $0.8 billion U.S.). Based in Riyadh, it will focus on
delivering Islamic banking services to its customers. ACI Worldwide
provides solutions for consumer and wholesale payments and application
infrastructure, serving more than 800 customers in 84 countries.

Details

Fair Isaac’s 3Q/05 Profits More than Double

Fair Isaac reported third calendar quarter revenues of $203.3 million versus $190.4 million reported in the prior year period. Net income for the quarter totaled $35.7 million, compared with net income of $14.4 million, reported in the same quarter last year. Strategy Machine Solutions revenues were $109.6 million in the quarter, compared to $115.1 million in the prior year quarter, or a decrease of 4.8%, primarily due to a decline in revenues associated with marketing services and insurance solutions. Scoring Solutions revenues increased to $47.8 million in the quarter from $37.5 million in the prior year quarter, or by 27.5%, primarily due to an increase in revenues derived from risk scoring services at the credit reporting agencies and “PreScore Service.” Professional Services revenues increased to $33.4 million in the quarter from $26.4 million in the prior year quarter, or by 26.5%, primarily due to organic growth driven by the company’s customer management, collections and recovery and fraud solutions, as well as from the acquisition of Braun Consulting. Analytic Software Tools revenues increased to $12.6 million in the quarter from $11.4 million in the prior year quarter, or by 10.5%, due to revenues generated from the sales of Blaze Advisor and Model Builder products. The company expects revenue for fourth calendar quarter to be approximately $207.0 million. For complete details on Fair Isaac’s latest performance, visit CardData ([www.carddata.com][1]).

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

Details

iPayment’s Revenues Soar 88% to $175MM in 3Q/05

Nashville-based iPayment reported third quarter revenue of $175,176,000 an 88% increase over 3Q/04. The Company’s revenue growth for the quarter reflected an increase in charge volume to $6.4 billion from $3.3 billion for the third quarter of 2004. Meanwhile, the CEO has offered a second proposal to acquire iPayment for $43 a share, more than 20% over yesterday’s closing price. iPayment is a provider of credit and debit card-based payment processing services to over 135,000 small merchants across the USA. For complete details on iPayment’s third quarter results, visit CardData ([www.carddata.com][1]).

Historical iPayment Revenues
3Q/04: $ 93.4 million
4Q/04: $101.4 million
1Q/05: $163.4 million
2Q/05: $181.1 million
3Q/05: $175.2 million
Source: CardData (www.carddata.com)

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

Details

CompuCredit to Launch a Discover Card in Q4

CompuCredit’s Purpose Solutions will launch a new credit card program on the Discover Network via the First Bank of Delaware. CompuCredit is the 17th-largest general-purpose credit card issuer in the U.S. CompuCredit is a specialty finance company and marketer of branded credit cards and related financial services, specializing services to consumers who are underserved by traditional financial institutions. Discover Network offers more than 4 million merchant and cash access locations and the PULSE ATM/Debit network currently serving over 4,100 banks, credit unions and savings institutions. First Bank of Delaware is a full-service, state-chartered commercial bank.

Details

Axalto Smart Card Plants Achieve Certification

Axalto has achieved “BS779” certification for its smart card production
and personalization centers in France, the UK and and its development
center in Austin, Texas. Axalto is the first smart card company to launch a voluntary program of
certification for all of its production sites globally. “BS7799” details stringent requirements for the implementation of an information security management system, including security policy, organizational and personnel security, communications and operations management, as well as business continuity management.

Details

UMB Bank and eFunds Expand Walgreens ATMs

UMB Bank and its ATM operations management partner eFunds have activated ATMs in 60 Walgreens stores in Oklahoma, including 28 stores in the Oklahoma City metropolitan area and 23 in the Tulsa metro. The entire contract agreement between UMB and Walgreens involves ATM installations in 307 stores in Missouri, Illinois, Kansas, Oklahoma and Colorado. The expansion represents a 62.5 percent increase in ATM locations for UMB in the central United States. UMB Financial Corporation is a multi-bank holding company headquartered in Kansas City, Mo Walgreen Co. is the nation’s largest drugstore chain with fiscal 2004 sales of $37.5 billion.

Details