Discover Announces $1B Share Repurchasing

Discover Financial Services has approved a share repurchase program to purchase up to $1 billion of its common stock. The program expires on June 14, 2013, and may be terminated at any time. The company expects to make share repurchases from time to time based on market conditions and other factors, subject to legal or regulatory restrictions. Discover Financial Services is a direct banking and payment services company with one of the most recognized brands in U.S. financial services.

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iControl Presents Live Data Reporting for Increased Accuracy and ROI

Pinnacle Hospitality Systems and iControl Enterprise launched new live data reporting feature for web-based enterprise solutions. iControl is smart software that integrates with your POSitouch restaurant POS system to deliver relevant business information in one easy-to-use interface. It delivers updated information to your web portal every 10 minutes – giving you access to sales figures, labor dollars, labor percentages, customer counts and check averages in real time. This translates to more accurate accounting and reduced errors lead to greater ROI for any hospitality business. This is a long awaited addition to the already industry-leading enterprise solution.

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Gemalto Wins 2011 A.T. Kearney Innovator Award

Gemalto digital security has been distinguished with the A.T. Kearney 2011 Best Innovator Award for its best-in-class innovation management and leadership. The evaluation focuses on the practical “how to” in innovation practice and assesses what leading companies really do in order to achieve superior yield from their innovation strategies and investments. The jury, which is comprised of senior business executives, ranked Gemalto clearly first amongst a number of nominated global industry leaders. The selection criteria focus on the processes in place to encourage and manage innovation and it evaluates actual achievements at delivering innovative products and services. Gemalto demonstrated a clear vision in making the digital world more convenient and secure for businesses and consumers alike. In particular, Gemalto remarkably evidenced a repeatable and well established system of innovation management that practically resulted in a succession of successful breakthroughs towards high-growth markets such as e-Government services, machine-to-machine applications and mobile financial services.

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Qualcomm to Acquire the Assets of Rapid Bridge Semiconductor

Qualcomm has agreed to acquire substantially all of the assets of Rapid Bridge inventor of advanced techniques for the design and development of semiconductor products. The company’s technology reduces complexity in integrated circuit (IC) development at advanced technology nodes to enable greater design flexibility and optimized die size and power consumption. With this, Rapid Bridge engineering services operations will be integrated into Qualcomm CDMA Technologies, expected to close by the end of fiscal year 2011.

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SelectCore Launches Instant Online MasterCard Reloads

SelectCore prepaid telecom and financial solutions for the credit challenged and unbanked consumer market launched instant online reloads for the “Iridium MasterCard.” Allowing cardholders to instantly reload their “Iridium” Prepaid MasterCard using Interac Online, the reload option is secure and easy to use, allowing funds to be transferred directly and instantaneously from an existing bank account. Instant online reloads will allow “Iridium” MasterCard to significantly broaden its demographic audience from the unbanked to mainstream consumers such as parents and teenagers / students, travelers and more.

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Desjardins deploys end-to- end encryption solution

METRO INC adopted the latest end-to-end encryption from Desjardins, which was designed in conjunction with Ingenico. Eliminating exposure of credit card numbers in the retailer’s payment process, the encryption solution protects card data as the card is read on the merchant terminal, reducing the risk of fraud and fraud-related costs while complying with the strictest standards of PCI-DSS, facilitating the PCI-DSS accreditation process for retailers.

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Sony Ericsson Selects NXP’s NFC for Its Smartphones

NXP Semiconductors’ NFC technology has been selected by Sony Ericsson for inclusion in its Android-based smartphones to further enhance its consumers’ mobile experiences. Using simple touch gestures, consumers will be able to make purchases or connect to a POS terminal, ticketing terminal or location-based promotional tag simply and securely with their NFC-enabled smartphones. NXP provides complete embedded, secure NFC solutions and recently announced that its NFC software is open source on the Android platform and enables the Google Wallet application. Sony Ericsson intends to use the NXP PN65 NFC solution in their Android-based smartphones, which includes the NFC radio controller, the embedded secure element and NFC software. The embedded secure element enables NFC to be used for mobile transactions.

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Credit Card ABS Chargeoffs & Delinquencies Imrpove 33% Y/Y

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Credit Card ABS Chargeoffs dropped 46 basis points (bps) to 7.42% in May for a second consecutive month of improvement to levels not seen since February 2009. This figure is down 33% since the year ago period and down 36% since the September 2009 peak. Meanwhile, late stage delinquencies fell once…

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Consumer Monthly Payment Rate Drops

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Monthly payment rate (MPR) dropped for the fourth straight month in April by 1.34% to 14.32%, compared to the March figure of 1.16% to 19.21%. This MPR figure pushes it back under the historical average of 16.21% for the fourth time in 10 months. Consistent with patterns and driven by…

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Conn AG Wants Answers on Citi Breach

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] After Citigroup learned hackers gained access to about 1% of its 21 million credit card files and the personal information back in early May, Connecticut’s attorney general is now asking the Bank for more information about the data breach. Insisting the Bank hasn’t yet explained how the attack happened, the attorney…

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NCR Introduces New Financial Kiosks

NCR Corporation announced the global launch of the next generation of NCR Financial Kiosks, which provide automated service options for financial services companies looking to offer a new customer channel in branches or off-site locations. The NCR SelfServ 4 and the NCR SelfServ 8 offer consumers the convenience of bypassing teller lines and quickly completing typical branch transactions, such as account opening, account maintenance and financial product research and purchase. By migrating routine transactions to self-service channels, tellers can dedicate more time to customer service, facilitating high-value product purchases and cross-sales. This allows customers to easily pay bills, transfer funds and print statements through a secure self-service channel. They can also search for loan, credit card and insurance rates, receive quotes and apply for a new product or service at the kiosk.

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