Hypercom Shortfall

Hypercom revised its third quarter forecast yesterday announcing it will report special charges to pre-tax earnings of $16.1 million resulting in an operating loss of $5.0 million, and that revenues will be off by more than $10 million. The news sent Hypercom’s stock down by 32% to close at a new 52-week low of $1.91 per share. Hypercom said its is taken aggressive action to restructure the operations of its POS Terminals and Network Systems Group to improve operating efficiencies, reduce its exposure in Latin America and discontinue activities that are unprofitable and tangential to its core products and services. The company has also started negotiations on the sale of several standalone operations that no longer align with the company’s core business and growth objectives. These unprofitable operations account for a combined operating loss over the last twelve months of $5.2 million on revenues of $26.6 million. The company said the lower third quarter revenues are the result of the delayed release of its new “T7Plus” POS terminal. For complete details on Hypercom’s latest results visit CardData ([www.carddata.com][1]).

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

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CN!Express AutoProcessor

NH-based Auric Systems International has released “CN!Express AutoProcessor” card and check processing application which has been certified for and working successfully with Paymentech’s “Orbital Gateway”. CN!Express provides merchants the capability to process transactions over the Internet quickly, securely, reliably, and inexpensively. With CN!Express, the delays, complexity, and costs associated with dial-up solutions are avoided. Merchants can make use of the new features offered by Paymentech’s Orbital Gateway, including Internet reporting, international currencies, check processing, and tough fraud protection. In addition, the AutoProcessor includes management tools that offer administrators the means to visualize transaction processing in real-time – spotting trends and problems as they may occur.

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IDefend

eFunds’ Chex Systems subsidiary is launching a service that can help financial services companies prevent fraud and comply with Section 326 of the USA PATRIOT Act by verifying the identities of consumers applying for loans, credit cards and other accounts. The new “IDefend” service, to become available in late October, integrates positive and logical verifications with complex analytics to cross check and validate an applicant’s personal information such as Social Security number, address, phone number, zip code and driver’s license number to verify a consumer’s identity. In addition, the “IDefend” service provides screening of applicants against government terrorist lists including the Office of Foreign Assets Control and other government lists using software from Bridger Systems. The U.S. Treasury Department states that final rules implementing Section 326 must be effective by Oct. 25.

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Blaze Advisor v4.5

Fair, Isaac and Company has released v4.5 of its “Blaze Advisor” rules management technology which allows enterprises to express their own best practices, business policies and decision criteria in intuitive business terms. Blaze Advisor release 4.5 gives application designers new flexibility in selecting exactly how the rule engine should process the business rules they have defined. A classic inference network can be used for large sets of rules with many interdependencies, while a new sequential mode allows efficient fixed-order processing of rules against large sets of data.

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e-Port Deal

Dr Pepper/Seven Up, Inc. has signed an agreement to implement USA Technologies’ “e-Port” credit card payment services in vending machines throughout the U.S. The deal also offers “e-Port” to all bottlers that produce and/or distribute “Dr Pepper” and “7 Up” products, including some Coca-Cola and Pepsi bottlers. Historical data from hundreds of vending machines across the country using “e-Port” has already shown that the added consumer convenience of vending with the swipe of a credit or debit card has increased vending machine sales revenue by 15-20%, according to USA Technologies. USTT’s networking services offer consumers a variety of options when purchasing products from vending machines, from a credit card, debit card, and smart card, to employee identification numbers (ID), and hotel room key cards. In June, the company announced the number of Kodak vending machines using its “e-Port” card payment technology had grown to 400 nationwide. (CF Library 6/14/02)

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IP CALL-CARD

Kabushikigaisha Nityu NetMedia, publisher of the “Chinese Weekly”
newspaper in Japan, is using the iBasis “IP CallCard” hosted platform and
the iBasis network to offer pre-paid calling card services to its more than
15 million subscribers in Japan. This is the company’s first foray into
telecommunications services. KNN is currently marketing pre-paid cards to
residential consumers for calls from Japan to China and plans to expand
into post-paid cards that it will offer to enterprise customers. iBasis “IP
CallCard” gives service providers advanced authentication, authorization,
and accounting features. Real-time billing services provide superior
customer account management, including billing information for postpaid
accounts and administration of pre-paid calling card balances.

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CARD DELINQUENCY

South Korea’s credit card delinquency rate increased sharply during the
second quarter. According to the government’s Financial Supervisory
Service, 30+ day delinquency hit 7.9% during 2Q/02 compared to 5.8% one
year ago. The country is one of the fastest growing credit card markets for
both VISA and MasterCard in Asia-Pacific. VISA reported this week that
volume was up 76% at mid-year. There are approximately 54 million VISA and
MasterCards issued in South Korea. The country has a population of 48
million and purchasing power per capita of $13,300. Last year, South
Koreans charged more than $200 billion on VISA and MasterCard. VISA has a
63% market share.

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PAYWARE RESOLVE 5.0

Trintech Group announced this week the immediate availability of “PayWare
Resolve IS Version 5.” The new version of Trintech’s dispute resolution
suite includes an improved user interface that enables customers to perform
more flexible searching, initiate bulk operations such as write-offs or
letter generation for selected dispute cases, and export data to external
applications. Other features of the new product include the ability to
customize queues to suit the experience and knowledge of staff. The
essential difference between “PayWare Resolve” and other exception
management systems is its built-in knowledge of domestic, regional and
international chargeback regulations. The chargeback regulations for VISA
and MasterCard/Europay have been encoded into the application so that the
system can recommend the appropriate action and chargeback reason code for
each case, replacing the need to navigate a series of intricate paper
trails and complex and changing regulations.”Resolve IS Version 5″ is Java
based and may be deployed on both Unix and Windows platforms.

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Chinese Weekly Calling Cards

Kabushikigaisha Nityu NetMedia, publisher of the “Chinese Weekly” newspaper in Japan, is using the iBasis “IP CallCard” hosted platform and the iBasis network to offer pre-paid calling card services to its more than 15 million subscribers in Japan. iBasis facilitates the prepaid business of its partners and does not compete with them in their own markets. Service providers using IP CallCard as their pre-or post-paid billing platform enjoy rapid service deployment while minimizing risk and upfront expenses.

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PRISM SIM

Prism Holdings Ltd. has chosen Atmel’s secure microcontroller silicon
platform for its “aSIMetrix” SIM card. Based on the Atmel “AT90SC” product
family, the Prism “aSIMetrix” SIM card combines the full
spectrum of GSM phase2+ functionality together with a SmartTrust certified
wireless Internet browser), advanced menu and application management
functions, and a full suite of advanced cryptographic plug-ins, all on a
single card. It uniquely caters to secure wireless payment and other mobile
applications with stringent security requirements. Prism Holdings is a
major supplier of GSM solutions to government and commercial organizations
worldwide provides the infrastructure and technology component required to
support the mobile commerce initiative of “TMTOUCH,” the GSM network
operator in Malaysia.

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CodePoint ePay

MA-based International Wireless Inc.announced yesterday it is acquiring Global ePay LLC. The company says the deal will broaden the applications for its patented bar code reading software and to facilitate the on-line and wireless electronic payments of fees, fines and taxes to state and local governments as well as utilities. International Wireless says the deal places the company squarely in competition with eONE Global’s, govONE Solutions. International Wireless’ patented “CodePoint” software solution allows mobile phones, PDAs, and emerging wireless devices to read visual symbols such as barcodes and complex matrix codes via integrated digital cameras.

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