Lipman Raises $140 Million in a US IPO

Rosh Haayin-based Lipman Electronic Engineering became the first Israeli IPO in the US in more than 18 months. On January 28th, the firm sold 3,000,000 of its ordinary shares to raise $140 million. The offering represents about 23% of Lipman’s stock. Lipman has a market value of NIS 2.1 billion. The company says the proceeds of the offering will be used to expand into new markets, broaden product range, and make acquisitions. The offering is being managed by Merrill Lynch, HSBC Securities and Piper Jaffray. Lipman is a provider of electronic payment systems. Lipman offers products such as landline and wireless point-of-sale terminals, personal identification number pads, electronic cash registers, self-service systems that include automated teller machines, and related applications.

Details

TNB Card Services Lands Another Card Portfolio

WI-based, 17,000 member Cloverbelt Credit Union, has sold its credit card portfolio to Dallas-based TNB Card Services with the assistance of AssetExchange. AssetExchange conducted the portfolio analysis, market valuation, and competitive bidding process on behalf of Cloverbelt Credit Union. Cloverbelt Credit Union, based in Wausau, WI, serves nearly 17,000 members and has more than $91 million in assets. TNB Card Services, located in Dallas, provides full-service credit and debit card processing, as well as, an agent issuing solution.

Details

AOS-Hagenuk Joins The Smart Card Alliance

AOS-Hagenuk B.V. joined the Smart Card Alliance as a full member. The Company wants to establish sales, marketing and support services in the USA.
AOS-Hagenuk was formed recently as a result of a merger between Art of Security B.V. and Hagenuk Smart Card Solutions B.V. in the Netherlands. Major banks, such as ABN-AMRO, are long time customers of the firm. In the U.S. various projects are in progress via a partnership with First Data. The Company’s installed base today includes more than two million units. The Smart Card Alliance is a not-for profit, multi-industry association working to accelerate the widespread acceptance of multiple application smart card technology.

Details

SC 5000

Groupe Casino has chosen VeriFone’s “SC 5000” PINpad to migrate to the latest French payment standard based on EMV specifications, “CB5.2.” The Company previously conducted a pilot with 118 PINpads deployed in supermarkets in Saint Etienne and Clermont Ferrand, and in hypermarkets in Firminy ,Quimper, St Jean de Maurienne and Aix les Bains. More than 6,000 units are due to be integrated with Casino’s electronic cash registers in 400 hypermarkets and supermarkets throughout France, beginning next month. In addition to “CB5.2” compliance, the “SC 5000” is a plug and play device, enabling it to be integrated with other integrated EFT software available in the French market.

Details

POS Terminal Manufacturers Need a Killer Application

A new report says POS equipment manufacturers are faced with the daunting task of reselling to the same customer base that prefers refurbished units to new ones and needs to come up with a killer application that leads to terminal upgrades or a total re-terminalization of the market. The report by Frost & Sullivan says terminal manufacturers also need to look to new markets. The government sector and the quick-service restaurant segment in the USA, with their low POS terminal penetration, are two potential growth areas that the participants can focus on to increase market share and profits. Efforts can also be channeled toward targeting new geographic regions such as India and China where the payment card industry is currently making giant strides. F&S says the world EFT terminal market generated revenues worth $1.8 billion in 2002 and is likely to reach $2.6 billion by 2007.

Details

ABN AMRO Bank Names MasterCard Preferred Payment Card Brand

MasterCard International and ABN AMRO Bank have signed a multi-year strategic alliance under which MasterCard will be the bank’s preferred payment card brand in more than 60 countries. Although ABN AMRO will continue its multi-brand strategy in selected markets, MasterCard will be ABN AMRO’s preferred business partner and preferred payment card brand world-wide. An important element in the partnership will be to strengthen ABN AMRO’s MasterCard portfolio in one of the bank’s home markets, the Netherlands, by focusing on innovation of the product line and increasing the profitability of the existing card business. ABN AMRO has more than
3,000 branches in more than 60 countries.

Details

U.S. Consumers Charge $2 Trillion on Payment Cards

Americans racked-up $2.1 trillion in purchases and cash advances on general purpose payment cards last year, a 9.2% gain over 2002, but down from the 11.4% increase for the previous year. The second quarter of 2003 was the most sluggish period as gross dollar volume on credit and debit cards only increased 7.3% over the prior year. The most active quarter was the third quarter when GDV topped $540 billion, a 10% gain over 3Q/02. For all of 2003, VISA processed 52.6% of the total volume; MasterCard produced 30.3%; American Express 12.5%; and, Discover 4.7%. During 2002, U.S. consumers and employees used credit and debit cards to make $1922.8 billion in transactions. In 2001, the figure was $1725.9 billion. For complete details on the network volume, by quarter, visit CardData (www.carddata.com).

General Purpose Credit and Signature Debit Card Volume
GDV Y/Y
1Q/03 $477.1 billion +9.7%
2Q/03 $515.9 billion +7.3%
3Q/03 $540.5 billion +10.0%
4Q/03 $566.9 billion +9.9%
TOTAL $2100.4 billion +9.2%
Source: CardData (www.carddata.com)

Details

METRO Group Expands Deployment of NCR’s FastLane

METRO Group will deploy NCR “FastLane” in 50 of its “Real” hypermarkets and “Extra” supermarkets in the country by the beginning of next year. The decision follows successful initial installations last year at METRO Group locations in Rheinberg and Ratingen. More than 50 retailers in Europe, North America and Asia have installed NCR self-checkout. METRO Group employs about 240,000 employees in 28 countries. The retail brands of the METRO Group are METRO Cash&Carry with the trademarks Metro and Makro, Real hypermarkets, Extra supermarkets, Media Markt and Saturn electronics markets, Praktiker DIY markets and Galeria Kaufhof department stores.

Details

First American Payment Systems Names General Counsel

Fort Worth, TX-based First American Payment Systems has hired Howard Herndon as EVP/General Counsel. Mr. Herndon has substantial experience in matters involving the electronic transactions industry, mergers and acquisitions, securities and corporate finance, and venture capital financing. Mr. Herndon received his Bachelor of Arts degree from Washington and Lee University, graduating magna cum laude, in 1981. He was a member of Phi Beta Kappa. First American Payment Systems, L.P. provides full service credit card processing for merchants throughout the United States.

Details

WOW! CARD

Dubai-based Mashreqbank has launched a new credit card that utilizes the smart chip to reward repeat behavior as opposed to one-time transactional loyalty. The new “WOW! MasterCard” and “WOW! VISA” have more than 1,000 participating merchants with smart card readers that will rebate between 5% and 35% back to the cardholder. Merchants are also offering surprise rewards. The card uses the enhanced XLS payment solution developed by Welcome Real Time. Bank executives say cardholders can earn up to Dh6000 annually, based on spending patterns. Mashreqbank is making the card publicly available and will upgrade all of its 100,000 existing cardholders to the new program. Mashreqbank was the first bank to introduce credit cards in the UAE in 1982 and offers the popular “MashreqMillionnaire” credit card program. It is the largest private bank in the UAE with 34 branches.

Details

NCO Portfolio Management Revenues Up 22% in 4Q/03

Baltimore-based NCO Portfolio Management reported total collections on purchased accounts receivable for the fourth quarter of $42.0 million, a 26.1% increase from the fourth quarter a year ago. Revenue for the quarter increased 21.6% to $3.6 million. Net income was $2.2 million compared to net income of $2.0 million for 4Q/02. Servicing fees as a percentage of collections for the fourth quarter of 2003 and 2002 were 30% and 31%, respectively. NCPM is a purchaser and manager of delinquent accounts receivable. For complete details on NCO Portfolio Management’s latest performance visit CardData (www.carddata.com).

Details