InterCept has received early termination of all waiting periods under the “Hart-Scott-Rodino Antitrust Improvements Act” relating to its acquisition by Fidelity National Financial.Details
VeriFone unveiled a countertop multi-application terminal and a wireless and portable terminal in its new “Vx Solutions” terminal family. The new countertop “Vx 510” and wireless “Vx 610” represent upgrade paths for current users of “Omni” terminals. The “Vx 510” incorporates a built-in thermal printer with drop-in “clam shell” paper loading, a backlit display, ATM-style interface, and on-screen prompts. The advanced processor also provides multi-tasking capabilities suited to value-added applications and EMV smart card transactions. The “Vx 610” features the same compact design of the “Vx 510,” but in a portable, battery-powered form factor that uses Wi-Fi, CDMA and GPRS. To-date VeriFone has shipped more than 50,000 terminals in its “Vx Solutions” line.Details
FedComp, a provider of core data processing software and systems to more than 1,000 credit unions, is providing an interface to and promoting Genpass EFT processing services and the “MoneyPass” surcharge-free ATM network to its credit union clients.Details
Lipman Electronic Engineering posted third quarter revenues of $44.5 million, a 43% increase over the year ago period. Net income for the quarter climbed 40% to $9.6 million compared to 3Q/03. During the quarter, Lipman completed its acquisition of Dione, Plc giving the terminal manufacturer an expanded suite of offerings and entry into South Africa and Finland, as well as a significantly expanded presence in the United Kingdom. Lipman acquired privately-held, London-based Dione for $69 million. In addition, Lipman will pay up to $33.4 million to Dione in earn-outs for 2005 and 2006, according to CardFlash International. Dione is a supplier of smart card-based payment systems with applications and managed services, posting revenues for the first nine months of this year of approximately $46 million. Also during the third quarter, Lipman received “EMV 2000” approval for its “NURIT” terminals. For complete details on Lipman’s 3Q/04 performance, visit CardData ([www.carddata.com]).
CU ink and Genpass have formed an alliance in which CU ink will promote Genpass EFT processing services and the “MoneyPass” surcharge-free ATM Network to CU ink’s Credit Union customers. Genpass’ ATM terminal driving, debit card processing, ATM maintenance, “PayCards,” and participation in “MoneyPass” will be promoted. CU ink is a supplier of computer forms products such as checks, statements, receipts, and notices, along with a line of marketing products and services including newsletters, brochures, direct mail, and posters.Details
SoundBite Communications has released “SoundBite 5.0 for Financial Services,” a Web-hosted solution built on the Company’s interactive voice messaging technology platform. “OnDemand Blended Suppression,” “OnDemand Enterprise Support,” and “OnDemand Campaign Management” are among the features of the solution. Benefits that companies will experience using the solution include “pay as you go” use, no hardware or software installation, high response rates, and SoundBite’s in-depth industry expertise.Details
The Board of Directors of the International Card Manufacturers Association has appointed Eric Blank of Arthur Blank & Company and Merrill Martin of VCT/QualTeq Division to serve two years on the Board. Blank and Martin both have extensive experience in the plastic card industry. The ICMA Board of Directors manages the ICMA’s business and affairs. ICMA is a non-profit association of plastic card manufacturers, personalizers, and participants in related industries. It has 200 members, representing over 40 countries.Details
China’s Blue Bamboo has unveiled its first product, a GlobalPlatform standards-based, wireless terminal. The new “H50” is priced as low as US$199. The “H50” supports the Java-based “Small Terminal Interoperability Platform.” In addition to abiding by GlobalPlatform standards, the “H50” will be an EMV-compliant terminal. Blue Bamboo expects to achieve certification by Q1 2005, according to CardFlash International. It also supports the “Visa Smart POS” application, and can be utilized in a broad range of solutions. Blue Bamboo’s terminal is portable, and powered continuously with two Lithium-ion cell batteries that are both re-chargeable and replaceable. Blue Bamboo is a wholly owned subsidiary of Shera International and affiliated with Shera Technology, an established manufacturer of POS terminals and peripherals.Details
ASK has introduced a new universal contactless platform. The new “TanGO” operating system addresses the contact/contactless smart cards needs for mass transit, access control, and banking. For mass transit, it is adaptable to any regional standards, including Calypso, RIS, VDV Core, ITSO, and RKF. Security features combine an anti-tearing and fast cryptographic calculation based on a DES, DESX, or 3DES mechanism. “TanGO” can also clone the legacy cards such as GTML, GTML2, and CD97 to perpetuate existing systems as well as provide the right path to new features, according to CardFlash International. “TanGO” is already available for dual interface and contactless cards.Details
UK-based Egg reports that its new MasterCard product, launched in June, has racked up more than GBP100 million in card balances. Egg also projects its interest income to rise significantly in the fourth quarter after recently bumping up its standard variable rate by 100 basis points. For the third quarter, Egg produced an operating profit for its British “Egg VISA” card of GBP18.6 million versus an operating loss of GBP2.7 million for its French “la Carte Egg VISA.” Overall, the Egg Group posted a year-to-date loss before tax of GBP103 million, which includes GBP113 million in exits costs for France and the operating losses of GBP35 million incurred in France up to the date of its announcement to withdraw from the market. Banque Accord is in the process of acquiring the French Egg credit card portfolio for GBP97.5 million, according to CardFlash International. The portfolio has 66,000 customers and net assets of approximately GBP143 million. During the quarter, Egg added 105,000 new credit cardholders in the U.K. to bring its total portfolio to 2,249,066 cardholders. Total Egg credit card outstandings were GBP3,306 million at the end of September. For complete details on Egg’s third quarter performance, visit CardData ([www.carddata.com]).