DFC Global Inks Definitive Acquisition Agreements

DFC Global serving primarily unbanked and under-banked consumers has entered into a definitive agreement to be acquired by an affiliate of Lone Star Funds (“Lone Star”) in a transaction, including the assumption of net debt, valued at approximately $1.3 billion. Upon completion of the transaction, DFC Global will become a privately held company. Under the terms of the agreement, DFC Global stockholders will receive $9.50 in cash for each share of DFC Global’s common stock they own. This represents a premium of approximately 5.8% to DFC Global’s closing stock price on April 1, 2014, and a premium of 12.3% to DFC Global’s 30-day volume weighted average stock price for the period ended April 1, 2014. The agreement was unanimously approved by DFC Global’s Board of Directors. The transaction is subject to customary closing conditions, including receipt of stockholder approval and certain approvals from both U.S. and foreign regulators. Competition-related approval requirements are expected to be limited in number. The acquisition requires the affirmative vote of the holders of a majority of the outstanding shares of the Company’s stock, which will be sought at a special meeting of stockholders. The transaction is expected to close in the third calendar quarter of 2014.

Details

Cardtronics Extends ATM Agreement

Cardtronics, Inc. has extended its ATM services agreement with Walgreens. Cardtronics is a preferred provider of ATM services for Walgreens. Since the relationship began in 2004, Cardtronics has grown its ATM presence in Walgreens locations significantly — from fewer than 400 initially to roughly 3,250 today. The company is also the exclusive ATM provider for Walgreens in many states across the U.S.

Details

Infobip Meets PCI DSS Compliance, Awarded Certification

Infobip mobile messaging and payments services has been credited with PCI DSS compliance certification. This is confirmation that Infobip’s SSMS complies with the stringent data security standards set by the payment card industry for handling sensitive financial information. Infobip works closely with financial institutions and banks. Its service platform processes over 1 billion transactions a month and complies with a wide range of global security requirements, offering VPN tunnelling, data masking, encryption and geo-redundancy to guarantee the highest possible levels of security and reliability. Infobip was validated as a Level 1 service provider, which is the highest security category in the PCI DSS standard. It means that compliance was validated by an external organisation, as required by PCI DSS for service providers that process more than 300,000 transactions per year. Infobip was found to be one of the few companies of its kind to fully comply with the PCI DSS requirements.

Details

U.S. Bank Brands Small Business Payment Products

U.S. Bank announced “U.S. Bank Business Edge,” a new brand for its small business payment products. The Business Edge family also includes a new product: the U.S. Bank Business Edge SelectTM Rewards card. The card lets card owners earn triple points on net spending by choosing one of three categories (day-to-day expenses, automotive, or travel and entertainment), and one point for each dollar in net spending for everything else. Flexible redemption options include a choice of gift cards, merchandise, travel or a statement credit. Other benefits include: no annual fee, no cap on points earned and 0% APR for nine statement cycles on purchases. The new family includes the “Business Edge Cash Rewards Card,”
“FlexPerks Business Edge Travel Rewards Card,” “Business Edge Platinum,” “Business Edge Charge Card” and “Business Edge Check Card.”

Details

FIS Fosters US EMV Adoption with Visa Agreement

FIS and its NYCE® Payments Network announced a licensing agreement to make the Visa® EMV® debit solution available to all NYCE participants. This agreement furthers the U.S. payments industry goal of EMV adoption and is NYCE’s first formal EMV license, which can be used by NYCE Network participants with respect to Visa card products. Fundamental to the agreement is the support of key NYCE participant business flexibilities, including portability between debit networks for issuers, routing choice for merchants at the point of sale and issuers at NYCE ATMs. At the same time, it ensures that NYCE will have access to Visa EMV technology in perpetuity to support NYCE clients and NYCE will be able to support transactions using all authentication types.

Details

BPC to Unveil SmartVista for Retailers at TRANSACT 14

BPC Banking Technologies payment solutions for the global financial industry announced the launch of SmartVista for Retailers. SmartVista for Retailers is designed to help businesses of all sizes streamline payment operations while supporting the widest range of payment methods and channels. The solution provides all the capabilities needed to support today’s fast moving, competitive retail environments in an integrated, flexible and secure package. Retailers face considerable challenges in their mission to deliver what consumers want at a price they are willing to pay, backed by the convenience and service they demand. SmartVista for Retailers helps capture market opportunities by rapidly meeting the unique needs of changing markets. The solution supports single- and multi-site retailers, as well as mono-retailers and retailers with multiple departments. A full range of payment options are supported, including EMV (Europay Visa Mastercard) chip and magstripe, contactless and mobile, credit and debit cards, prepaid and virtual cards, gift cards and vouchers, ensuring retailers can offer consumers the widest range of payment acceptance. Designed to operate in a dynamic environment, SmartVista for Retailers is multi-channel, multi-currency, multi-lingual, multi-institution and multi-acquirer.

Details

City of Atlanta Grants Acculynk Special Procurement Designation for Patented Payment Solution

Acculynk payment processor announced the City of Atlanta, Department of Watershed Management’s award of a Special Procurement Designation to Acculynk. Following the Special Procurement Designation, Acculynk will offer Department of Watershed Management customers its unique PIN debit solution for processing secure online debit payments. The Company expects to deliver its proprietary solution to customers within the next few weeks. The offering is expected to open up a new payment channel to Department of Watershed Management customers, especially for those customers who utilize debit cards as a primary means for transacting. Acculynk’s PaySecure® patented online PIN pad solution permits PIN enabled debit card users to enter their PIN for e- and m-commerce, ensuring a second layer of authentication and a more secure transaction.

Details

GlobalCollect Announces Elevate Data Services

GlobalCollect announced Elevate Data Services, a comprehensive Business Intelligence solution designed specifically for online payments and chargebacks. Elevate was conceived in response to the unique need for insights expressed by GlobalCollect’s clients, and developed in close cooperation with GlobalCollect’s Customer Advisory Board (GCAB), which includes many leading international eCommerce companies.

Details

World First and OANDA Expand International Payments Service

Following the announcement of their partnership in the UK earlier this year, World First, a leading international payments provider, and OANDA Corporation, the first online provider of comprehensive currency exchange information and global provider of innovative foreign exchange trading services, are pleased to announce the expansion of their international payments service to the U.S., Canada, Australia and France. With World First’s flexible online payments platform OANDA clients can now make high-speed international money transfers around the clock. The World First-OANDA payments service allows private individuals to make transfers for things like repatriating income, paying for international school fees, making property investments, sending money to family overseas, or for a variety of other reasons.

Details

SIX takes full control of Cetrel

SIX has increased its stake in the Luxembourg financial services provider CETREL S.A. from 50% to 100% as of 31 March 2014. SIX has underlined the real significance of strategic cooperation and in taking over the company, will expand its leading international offering in the area of card-based payment transactions. SIX is aiming to strengthen its position in the acquiring business and expand the international issuing-processing offering of SIX in Europe. Maintaining central services to strengthen the competitive position of the Luxembourg financial center will continue to be one of the core activities for the company.

Details