USA Tech Sees 4Q/11 Revenue Up 14%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] USA Technologies wireless posted its fiscal 2Q/12 (4Q/11) results for the three months ended December 31, indicating the number of customers on its ePort Connect Service was up 77%; the number and dollar value of small-ticket transactions handled by its network was up 50% and 54%, respectively; recurring revenue from license…

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Online Luxury Fashion Spending Up for Average Consumer

American Express Business Insights now show average spenders- who fall outside of the top 10% of spenders- are leading spend growth in premium luxury and full-priced online luxury retail. Based on aggregated spending data from 2009-2011, the data also show while Gen Y consumers are demonstrating a growing hunger for full-priced online luxury, Seniors are demonstrating dominate spend growth on flash sale websites. But Seniors’ spending remained flat at brick and mortar department stores over the same period. The 2010 flash sales saw a jump of 92% in spending over the year prior by Average Spenders, which dropped to 21% for 2011. The growth trajectory was higher for full-priced online luxury websites where spending increased to 25% in 2011 from 20% in 2010.

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SWACHA Survey Shows Consumer Love for Loyalty Programs

SWACHA not-for-profit epayment association now shows a rewards program weighs heavily on consumers decisions when choosing a debit or credit card provider. Among consumers surveyed, 66% reported credit card rewards programs are important to them with 34% ranking them very important and 32% ranking them somewhat important. Although slightly lower than credit card interest, 21% said debit card loyalty programs are very important and 24% find them somewhat important to them when choosing a card. Debit cards are currently used by 26% daily, compared to only 15% using credit cards- among which 44% pay off their balance in full every month. Moreover, while 31% who earn between $25,000 to $45,000 hold at least three credit cards, 43% of those who earn $45,000 to $55,000 and 50% earning between $55,000 to $75,000, and 54% of those who earn $75,000 to $95,000 hold at least three.

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Dwolla Payment Network Reviewed and Rated A+

CardPaymentOptions.com has released their latest review on Dwolla, having awarded them an A+. Dwolla having shown favorable business practices in nearly all categories, what makes it unique from other payment systems is it allows money to transfer between people and businesses at a fraction of what other merchant services companies charge. They operate their own payment network, and offer user-friendly features like peer-to-peer transfers and instant cash transfers. For merchants they offer website integration and face-to-face payment acceptance, just as most other payment service companies would. Dwolla currently moves nearly $50 million a month in transactions and charges a fraction of what typical payment processing companies do. It was commended based on Marketing and Sales; Costs; Contracts; and minimal Complaints.

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2000Charge Sees 100% Increase in Interbank Transactions

Alternative payment processor www.2000charge.com has announced a 100% increase in transactions on its “iDEAL” interbank method during 2011. The solution allows shoppers to authorize online payments from their current account through their bank’s online banking site. Available to ABN AMRO, ASN Bank, Friesland Bank, ING, Rabobank, RegioBank, SNS Bank, Triodos Bank or Van Lanschot Bankiers customers, those with online banking can start using “iDEAL” right away, and merchants that use 2000Charge can start offering it.

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DFC Global Expands Internet Loan Offering

DFC Global financial services for the unbanked and under-banked expanded its internet loans offering. The Company is providing these loans by leveraging the scalable technology platform and back-office support capabilities of its Scandinavian internet lending business (Risicum) based in Helsinki, Finland. DFC Global international diversified financial services company serves those whom purchase some or all of their financial services from the Company rather than from banks and other financial institutions.

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BinDataSet Launches Bin Database

BinDataSet, a Bank Identification Numbers (BIN) database service provider, has released the largest BIN database on the Internet. The database contains over 350,000 records of credit and debit card numbers. The database also provides Country, Brand, and Bank. BinDataSet ensures that more fields are available for higher accuracy. This allows verification on all card transactions-by phone if needed-saving retailers millions in lost revenue to charge-backs.

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Hamburger Sparkasse Extends Wincor Nixdorf Portavis contract

The outsourcing contract between Hamburger Sparkasse and Wincor Nixdorf Portavis has been extended, holding over the next five years Wincor Nixdorf Portavis is to oversee Hamburger Sparkasse’s self-service cash management, software applications and IT infrastructure. Additionally, Wincor Nixdorf will take on central operations management for all self-service systems and the technical operation of the Hamburger Sparkasse Web-based portal and various banking applications belonging to the savings bank. Wincor Nixdorf Portavis will also provide remote monitoring and additional monitoring of cash holdings for 370 ATMs, some 500 statement printers and around 140 automated teller safes.

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Ukash Expands Services in South America

Ukash e-commerce cash payment method introduced its services in Argentina through its partnership with More. The entire network of More stores went live this week, bringing over 100 nationwide outlets where the consumer can now purchase Ukash in Argentina. This empowers users to use cash electronically, irrespective of status, device or boundary, and is available at 420,000 retail locations, in more than 50 countries.

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SelectCore to buy Conquest Financial Services

SelectCore is set to acquire the assets of Conquest Financial Services for $4.76 million. Strengthening its position in the payment processing market, SelectCore will issue 16.4 million shares to Conquest Financial and another 1.03 million shares will be held in escrow and released quarterly over the next 40 months, contingent on Conquest meeting certain performance metrics. The transaction adds more than 2,200 new POS terminals and merchants to SelectCore’s retail network, however if Conquest fails to meet certain performance metrics, any unreleased shares at the end of the 40-month period will be canceled. Additional cash consideration can be earned by Conquest over the next 40 months based on 75% of incremental net profit realized from two new customers. SelectCore provides transaction processing and POS solutions for the prepaid telecom and prepaid financial market.

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