ITUG, The International HP NonStop Users Group, has named NYCE Corporation 1st place overall availability winner for this year. ITUG presents the award annually to information technology companies that maintain the highest overall system uptime and exercise sound quality assurance practices. For ITUG award consideration, NYCE reported overall availability of the systems that host the NYCE Network and EFT Processing Platform of 99.99 percent during the ITUG reporting period. NYCE Corporation is at the forefront of electronic payments in the U.S., providing consumers with secure, real-time account access 100 million times each month.Details
Payment processing software developer US Dataworks this morning reported third quarter revenues of $959,000, nearly triple the revenue reported one-year ago. Net loss for the quarter was $3.4 million, compared to a net loss of $849,000, for the corresponding period in the prior year. About $3.1 million of the loss was due to some debt conversions and refinancings. During the quarter, the Company successfully closed a private placement financing of common stock and convertible debt that raised $4.2 million. US Dataworks says the recent passage by Congress of “Check 21” will help transform the Company dramatically. US Dataworks’ core products include: “MICRworks,” “MICRworks-Lite,” “Returnworks,” “Remitworks,” and “Remoteworks-Daemon.” For complete details on US Dataworks’ 3Q/03 performance visit CardData (www.carddata.com).Details
First Data and Concord EFS, Inc. announced that on October 28, 2003, U.S. District Court Judge Rosemary Collyer entered a scheduling order in the litigation filed by the Department of Justice with respect to the proposed merger of the companies. Among other things, that order provides that a hearing on the government’s motion for a preliminary injunction will be consolidated with a trial on the merits and will begin on December 15, 2003.
“The union of First Data and Concord is pro-competitive and good for the payments industry. We look forward to proving that in court and are thankful that the court has agreed to an expedited schedule,” said Charlie Fote, chairman and CEO of First Data Corp.
On April 2, 2003, First Data and Concord announced that the two companies had entered into a definitive agreement to merge in an all-stock transaction valued at approximately $7 billion. For six months both companies worked cooperatively with the Department of Justice (DOJ) seeking clearance under the Hart-Scott-Rodino Antitrust Improvements Act. Notwithstanding these efforts, on October 23, 2003 the DOJ filed a civil antitrust lawsuit to block the proposed merger. Consummation of the merger remains subject to such litigation.
First Data and Concord announced that its shareholders voted to approve the transaction at separate meetings held on October 28, 2003.
About First Data
First Data Corp. (NYSE: FDC), with global headquarters in Denver, helps power the global economy. As an electronic commerce and payment services company, First Data serves approximately 3 million merchant locations, 1,400 card issuers and millions of consumers, making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of payment. With 29,000 employees worldwide, the company provides credit, debit, smart card and stored-value card issuing and merchant transaction processing services; Internet commerce solutions; money transfer services; money orders; and check processing and verification services throughout the United States. First Data also offers a variety of payment services in the United Kingdom, Australia, Canada, Japan, Mexico, Spain, the Netherlands, the Middle East and Germany. Its Western Union and Orlandi Valuta money transfer networks include approximately 169,000 Agent locations in more than 195 countries and territories. For more information, please visit http://www.firstdata.com .
About Concord EFS, Inc.
Concord EFS, Inc., a vertically integrated electronic transaction processor, provides the technology and network systems that make payments and other financial transactions faster, more efficient, and more secure than paper-based alternatives. Concord acquires, routes, authorizes, captures, and settles virtually all types of electronic payment and deposit access transactions for financial institutions and merchants nationwide. Concord’s primary activities include Network Services, which provides automated teller machine (ATM) processing, debit card processing, deposit risk management, and STARsm network access principally for financial institutions; and Payment Services, which provides point of sale processing, settlement, and related services, with specialized systems focusing on supermarkets, major retailers, gas stations, convenience stores, restaurants, and trucking companies. For more information, visit us at http://www.concordefs.com .Details
Epson this week rolled-out its “Mobilink” wireless printer designed specifically for the retail and hospitality industries, that supports “802.11b” and “Bluetooth Compact Flash”. Mobilink carries a 1-year warranty and will be available the first quarter of 2004. Epson offers an extensive array of POS printers and transaction terminals for the retail, hospitality, supermarket and banking markets.Details
ParTech, a provider of software, hardware and service solutions to the hospitality and retail industries, and Quick Kiosk, a provider of self-service solutions to the QSR industry, have signed a partnership to offer self-service solutions for QSRs. Under this agreement Quick Kiosk and ParTech will work cooperatively to become an industry-leading provider of self-service solutions for the QSR and entertainment markets, possibly expanding in the future to other vertical markets. PAR has provided integrated solutions to the restaurant, movie theatre, cruise line and recreation industries for over 25 years. Its POS management technology integrates both software applications and PAR’s Pentium-based hardware platform.Details
IsraCard has signed an agreement to make an equity investment in the StoreNext Israel Group, which provides information and e-commerce services to the Israeli food retail industry.
According to the agreement, IsraCard will acquire 13% of Store-Alliance Ltd. (the StoreNext Israel Group) for an investment of $2.5 million, which reflects a $16.9 million valuation for StoreNext Israel Group. Other shareholders in StoreNext Israel Group are Retalix, Coca-Cola Israel, and Discount Investment Corporation. The StoreNext Israel Group includes four companies: StoreNext Ltd., which provides information and retail management services to independent retailers; Tradanet, which provides EDI messaging services to suppliers and retailers; IREX, which has set up a web-based retail exchange for suppliers and supermarket chains; and CellTime, which provides solutions for selling pre-paid cellular air time at retail points of sale. Approximately 500 grocery stores, independent supermarkets and small chains are connected to StoreNext and enjoy a variety of online information and management services, including accounting, loyalty club management, chain management, fast credit card and cheque validation etc.
VA-based Portfolio Recovery Associates reported net income of $5.5 million for the third quarter, a 7.6% gain over 3Q/02. Total revenue was up 46% in the third quarter to $22.2 million from $15.2 million in the year-ago period. Cash collections rose 46% to $30.2 million in the third quarter and “cash collections per hour paid” improved to $110.77 for the first nine months of 2003 from $96.37 for full-year 2002. The company purchased $323 million of face-value debt during the third quarter for $11.8 million, representing a blended purchase rate of 3.65%. This debt was purchased in 16 transactions from 8 different sellers. Buying in the third quarter focused more heavily on early recall debt than in the recent past, due to the quality of these accounts in the marketplace. Cumulatively, the company has purchased $1.85 billion of face-value debt at a blended rate of 2.72% in the first nine months of this year, compared with $930 million at a blended rate of 2.84% for the same period in 2002. For complete details on Portfolio Recovery Associates’ 3Q/03 results visit CardData (www.carddata.com).Details
Smart card manufacturer, Gemplus, reported that revenues for the third quarter were 10% above the prior quarter and that its losses have been cut by two-thirds since the third quarter of last year. The company’s Financial and Security Services segment posted revenues of 57.7 million euros, a 20% gain over the last quarter, as gross profits soared nearly 59% to 14.7 million euros during the same period. Overall revenues hit 190.0 million euros for the third quarter, compared to 172.4 million euros for the second quarter. However, compared to the third quarter of 2002, revenues are down 7.6%. The net loss for the third quarter of this year was 13.1 million euros, compared to 82.4 million euros in the previous quarter, and 38.6 million euros one-year ago. However, at the operating level Gemplus posted a tiny profit compared to a loss of 6.5 million euros for the third quarter of last year. Gemplus says that EMV shipments doubled sequentially for the second quarter in a row and nearly quadrupled compared with the same quarter a year ago. Sales were mainly driven by the UK market, but were also supported by South America, Turkey and Malaysia. Other payment smart cards increased 64% compared with the second quarter and 66% compared with the same quarter a year ago. Malaysia and France mainly drove sales.Details
Monchengladbach-based Scheidt & Bachmann the Israeli firm On Track Innovations have signed a deal to provide the Metropolitan Transit Authority of Harris County (Houston), Texas with mass transit ticketing solutions. The project is scheduled to go online in 2004. Scheidt & Bachmann will act as the system integrator with OTI supplying the front-end solutions including readers and support software. Scheidt & Bachmann is a private German company that is one of the world’s leading providers of management systems for mass transit, car parking, petrol stations and railway
protection. OTI is a leader in contactless microprocessor-based smart card solutions.
Mint Inc, a provider of wireless payment services, has signed a deal to provide “Pay-Mint” wireless parking payment options to all 30 EasyPark lots in downtown Vancouver. EasyPark has
been managing parking services in Vancouver for more than 50 years. It has more than 7,500 of the estimated 48,000 downtown off-street parking stalls, and has carparks located on more than 30 properties. With “Pay-Mint,” consumers are able to pay for parking using their mobile phone, or any wireless device. Once a car is parked on a lot that offers Mint wireless payment options,
consumers call the posted telephone number from their mobile phone to start their transaction. The call identifies the customer as a Mint subscriber. When customers leave their parking spot, they call the number again to end their parking session. The money to pay the operator comes from the account that the customer has registered – their credit card or their bank account. Mint Inc. was formed in Toronto in 2001 after the company purchased the license for the wireless technology from Mint AB, a Swedish mobile payments company founded in 1998.
Discover is launching a new sweepstakes this weekend, “Fasttrack to Cashback,” offering cardholders a chance to win one of 54,000 prizes, ranging from $5 to $1,000. Winners of $25 or more will be notified by phone. The remainder will receive an announcement via direct mail. Discover Card will support the sweepstakes with national television spots, as well as print advertisements in publications such as US Weekly, Entertainment Weekly and People. Discover Financial Services, a business unit of Morgan Stanley, operates the Discover Card brands and the Discover Novus Network for more than 50 million Cardmembers.Details
Trans Link Systems has chosen The East-West Consortium to design, develop and implement a unified electronic ticketing and payment system for public transit. The new system, which will cover train, metro, bus, ferry and tram journeys, will be the first e-ticketing and payment system in the world to be implemented on a national scale. When the system is fully operational, it will accommodate more than 2 million passengers per day. The Consortium is led by Thales, Accenture and Vialis and the five-year contract is valued at 120 million euros. Additionally, as subcontractors to Thales, Hong Kong’s MTRC Corporation & Octopus Cards Limited will provide the central back office as well as expertise in operations. Trans Link Systems is an initiative of five major public transport companies in the Netherlands: Nederlandse Spoorwegen, Connexxion, GVB (Amsterdam), RET (Rotterdam) en HTM (The Hague). This alliance serves more than 80% of the public transport market.Details