Coinstar Expectations

Coinstar announced that it expects revenues of its North American core business to hit $36.5 million, exceeding previously issued guidance for the second quarter. Based on preliminary data, the company anticipates revenues for its North American core business of approximately $36.5 million. Due to higher than projected earnings before interest, taxes, depreciation and amortization, and non-cash stock-based compensation, and lower than projected interest expense, net income before an extraordinary loss due to the early retirement of debt is expected to exceed the high end of the previously issued guidance.


En-point Direct & EIP

Fidesic and Payment Partners have signed an agreement to integrate the Payment Partners “En-point Direct” service into Fidesic’s “EIP” solutions. The newly expanded global service will be available in Q3 2002 and will provide Fidesic customers with the ability to send invoices to overseas customers and receive US Dollar payments from payers and businesses located in nineteen of the world’s top banking centers.


Smart Intermodal FCS

Cubic Transportation Systems has successfully completed factory tests of its smart card automatic fare collection system for buses operated by the Washington Metropolitan Area Transit Authority. The new regional program will link payment for WMATA buses serving Washington DC, and parts of Maryland and Virginia with the Metro’s existing SmarTrip system. Every year, nearly 10 billion people use Cubic systems in more than 40 major markets in cities on five continents, including London, Washington, D.C., Hong Kong, Chicago, New York, Guangzhou, Shanghai, Atlanta, San Francisco, Singapore and Miami.

Details P2P

Despite PayPal’s dominance in P2P payments, competitors continue to beef up their products. Billserv’s subsidiary announced the availability of a new feature-rich version of its consumer online bill presentment and payment service. The new service gives consumers the ability to pay anyone with an e-mail address, transfer money between multiple checking and savings accounts, view and pay additional eBills and receive eBill summaries in their e-mail inbox. Billserv says the upgraded service means consumers no longer need to subscribe to multiple electronic payment services.’s P2P e-mail payments and other new features allows consumers a single place to track, manage and archive all their bills, payments and accounts. Billserv consolidates customer-billing information and then securely delivers it to the client’s own Billserv-hosted payment site, consumers’ e-mail Inbox and over 450 distribution end-points.


Wells Fargo 2Q/02

Wells Fargo’s cardbase has been relatively flat over the past year but outstandings and volume continue to show strong growth. At the end of the second quarter, Wells had $5.26 billion in outstandings, a 5.2% gain over the same period in 2001. Charge volume rose 11.5% between the second quarter of 2001 and 2002. Wells reported 2Q volume of $3,159,546,656. However, the number of accounts only edged up by 1% over the past year, and active accounts grew less than 1%. For complete details on Wells Fargo’s 2Q/02 performance visit CardData ([][1]).

2Q/02 1Q/02 2Q/01 YAG
Recv: $5,264,719,262 $5,082,151,789 $5,003,186,016 +5.2%
Vol: $3,159,546,656 $2,837,378,126 $2,835,244,497 +11.5%
Accts: 5,218,355 5,239,967 5,165,405 +1.0%
Actives: 3,028,464 3,009,457 3,008,012 +0.7%
Cards: 6,839,330 6,770,514 6,795,588 +0.6%
Source: CardData (



Mid-Level 2Q/02

Arkansas-based Simmons First National Bank experienced a slight drop in second quarter receivables, while the Pennsylvania State Employees Credit Union stayed flat from 2Q/01. Among other issuers in the $100 million to $500 million peer group, First Citizens Bancshares showed a 3.2% gain in second quarter receivables and Commerce Bancshares carved out a 1.3% increase.

Commerce Bancshares $476m $349m 269k +1.3%
First Citizens Bancshares $223m $200m 105k +3.2%
Penna State Empl CU $195m $ 93m 76k NC
Simmons Frst National $179m $ 81m 109k -1.1%

Q CHNG -% change in receivables from 1Q/02; Source: CardData (



Sersi Italia, a company specializing in multi-vendor customer service and closed-circuit television monitoring of ATMs for banks and post offices throughout Italy, has been acquired by Diebold. The deal will enable Diebold to extend its own self-service experience into a new arena through the management of 2,300 automatic postal dispensers, in addition to its ATMs. Sersi Italia has a staff of 50 employees which will boost Diebold’s staff to 200. Currently, approximately 60,000 ATMs are under a Diebold service contract throughout Europe. About 25% of these machines are non-Diebold units.


Bank eConnect

Atlanta-based Alan J. Conner & Associates has partnered with eConnect to form Bank eConnect which will act as a depository for eCashCard bank accounts and to effect payment to any payee for the eCashCard Bank “eConnect” customers, and to develop the business of marketing credit cards and credit insurance to the sub-prime credit marketplace. The eCashCard is a value added Smart Card. It is similar to a calling card that can be used to store cash value that can be replenished any time.



Societa’ per i Servizi Bancari has licensed the ACI Virtual Wallet to issue electronic wallets to Italian consumers. With 29 million payment cards in 2001, SSB is a leading European processor for the management of national/international debit and credit cards and an application center for the management of inter-bank payments, handling approximately 4 billion transactions in 2001. The virtual wallet forms part of the BANKPASS Web service that the Italian Bankers Association is promoting to strengthen Italy’s online financial services. Operational since January 2002, participating banks can use BANKPASS to provide the ACI Virtual Wallet to their customers, making on-line purchases more simple, more secure and easier to track. Currently, more than 530 customers in 71 countries use ACI supplied software.