TSYS announced plans to build an European data center in Knaresborough. The center is scheduled to be completed and operational by the fourth quarter. The new 53,000 square-foot data center will replace the existing data center in Harrogate which TSYS currently leases. The data center will be built on 3 acres and will contain 15,000 square feet for offices. Additional features include separate machine room, plant block, N+N generator and UPS back-up systems. TSYS currently serves more than 12 million consumer and commercial credit accounts in Europe.Details
Las Vegas-based C.E.C. Industries has signed a processing agreement with FSV Payment Systems for its forthcoming debit and stored-value cards. C.E.C. Industries Corp. is a Nevada Corporation in good standing that is presently entering the business of providing a suite of cash-based debit cards and stored value cards for ATM and debit “point-of-sale” transactions. The Company believes a multi-functional stored value product will fill a void in payroll and consumer payment services.Details
eFunds Corporation reported that net income for the second quarter increased 13.3% to $5.1 million, compared to one year ago. However, net revenues of $133 million were flat compared to 2Q/02. Net revenues for electronic payments of $45.3 million, and global outsourcing of $18.5 million, declined 14% and 13%, respectively, compared to one year ago. ATM management net revenues increased 32% to $36.3 million while risk management revenues climbed 2% to $32.8 million. For complete details on eFunds’ second quarter results visit CardData ([www.carddata.com]).
Smart card specialist Gemplus reported this morning that its second quarter revenues increased nearly 12%, and that gross profit jumped 27% over the first quarter. However, second quarter revenues of $197.2 million, are about 18% lower, and gross profits of $54.7 million are slightly lower than one year ago. Gemplus also posted a $94.3 million net loss for 2Q/03 compared to $43.4 million in the prior quarter, and $140.8 million one year ago. The company reported that smart cards for banking and retail applications rose 54% quarter-on-quarter. EMV shipments nearly doubled compared with the first quarter and more than tripled compared with the same quarter a year ago. Sales were mainly driven by the UK market, but also supported by South America and Asia. During the second quarter, the EMV migration in the UK accelerated with the delivery of 15 million EMV smart cards. Gemplus also became a major player in the EMV migration in Malaysia during 2Q/03. For complete details on Gemplus’ second quarter results visit CardData (www.carddata.com).Details
CA-based CAM Commerce Solutions reported revenues of $5.2 million for 2Q/03 and says its “X-Charge” payment processing revenues more than doubled again over the same quarter last year. As of June 30, 2003, the company had $11.1 million in cash and marketable securities, or $3.48 per share based on shares outstanding at June 30, 2003, compared with $10.6 million at Sept. 30, 2002, or $3.41 per share based on shares outstanding at Sept. 30, 2002. CAM Commerce Solutions provides total commerce solutions for traditional and Web retailers that are based on the company’s open architecture software products for inventory management, point of sale, sales transaction processing, and accounting.Details
Since introducing the “Works Payment Manager” application with its purchasing cards last month, SunTrust Bank says it now has five state and local governments and government agencies using the application. The application allows them to minimize the number of checks they issue, reduce errors and time associated with account reconciliation, and settle more payment transactions electronically. Clients using the online solution in conjunction with their SunTrust card programs are able to securely move more of their spending onto credit cards, ultimately streamlining their payment processes and substantially reducing manual purchasing costs. SunTrust Banks, Inc. is one of the nation’s largest commercial banking organizations, and had total assets of $120.9 billion and total deposits of $77.3 billion as of June 30, 2003.Details
Omaha-based Transaction Systems Architects reported revenue for the quarter ending June 30th of $73.8 million, an increase of 6.2% over same year-ago quarter. Net loss for the quarter was $1.9 million, which reflected a goodwill impairment charge relating to the 2001 acquisition of MessagingDirect. For the quarter, revenues were comprised of software license fees of $40.7 million, maintenance fees of $20.7 million and services fees of $12.4 million. The Company ended the quarter with $225.9 million in backlog. For ACI Worldwide, the Company’s largest business unit, new customer activity for the quarter included six customers for “BASE24,” three customers for “ACI Proactive Risk Manager,” two “Winpay24” accounts and one customer for “Net 24.” For complete details on TSAI’s second quarter results visit CardData ([www.carddata.com]).
IN-based CMC has promoted David Smith to VP/CIO. Smith has experience in Information Technology and management spans more than 12 years, with previous roles at American General Corporation and R.R. Donnelley & Sons. CMC is a leading provider of turnkey and menu-driven superior quality servicing solutions and product engineering to financial institutions, commercial credit companies, and retail companies for their credit and debit account products, merchant transaction services, and private label programs.Details
FreeStar Technology Corporation which operates a Northern European “BASE24” credit card processing platform out of Helsinki, announced it has terminated negotiations with FreeStar Acquisition Corp. and Hans Thulin, its principal, for a cash merger. However, the Company is on track to do a deal with TransAxis, which is expected to close later this summer. FreeStar Technology currently processes approximately 1.0 million card payments each month for an established client base that includes companies such as Finnair, Ikea and Stockman.Details
MA-based Pegasystems reported 2Q/03 revenues of $25.5 million compared to $26.7 million one year ago. During the quarter the Company sold its “PegaCHECK Smart Adjust” product to a Midwest banking organization and extended a relationship with a user of its “PegaCARD” solution. For complete details on Pegasystems’ 2Q/03 performance visit CardData ([www.carddata.com]).
Global Payments Canada efforts to get a security deposit out of Air Canada for credit card processing services have been denied. The Court of Appeal for Ontario issued a decision this week unanimously dismissing an appeal by Global Payments Canada Inc. relating to security deposit arrangements for the processing of credit card payments. Mr. Justice James Farley’s order of May 7,2003, rejecting that request was upheld by the Court of Appeal.Details
Providian reported 2Q/03 net income of $39.0 million, compared to net income of $4.7 million in the first quarter of this year, and $153.9 million for the second quarter of last year. The issuer added approximately 484,000 gross new accounts in the second quarter and ended the quarter with approximately 10.2 million customer accounts. During the quarter Providian launched the “Real Rewards VISA,” a new rewards card program that followed test marketing of several programs over the past nine months. Managed loans for the second quarter were $17.8 billion. Providian Bank is in the process of unloading $859 million in credit card loans. Charge-offs for 2Q/03 were 16.84% compared to 17.61% in the previous quarter. Providian’s 30+ day delinquency rate at the end of the second quarter was 9.72%, compared to 10.31% at the end of the first quarter. The reported and managed net interest margins on loans in the second quarter were 10.16% and 15.09%, compared to 11.50% and 15.41% in the first quarter of 2003, respectively. For complete details on Providian’s 2Q/03 performance visit CardData ([www.carddata.com]).