MoneyGram International launched its money transfer kiosk with DongA Bank. Entertaining network expansion throughout Vietnam and addressing transaction growth, Moneygram more easily plugs its citizens into the $400 billion global remittance market with this development. in 2010, the Company increased its network in by 30% with the help of DongA Bank, its leading agent with over 252 locations and home delivery to any business or home address. Remittances to Vietnam are predominantly sent from the United States and may be received at any of MoneyGram’s nearly 1,500 locations countrywide, which in addition to DongA Bank includes leading banks Eximbank and Sacombank added in 2010 as well as Vietcombank, VIB, and Saigon Bank.Details
Masabi mobile ticketing technology for the transport sector, announced that the mobile rail ticket purchase application it developed for thetrainline.com, now supports most high-end smartphones and everyday handsets. Mobile users are able to search train times and purchase tickets using a credit or debit card, and then pick-up their tickets at the station. The application will start displaying tickets as secure barcodes on the phone’s screen when rail operators start supporting this feature in the coming months.Details
The Canadian Federation of Independent Business (CFIB) has launched a major campaign to inform consumers about the high cost of credit card merchant fees and ask them to consider paying with Interac or cash instead. CFIB, the organization responsible for the concept of the Federal Code of Conduct for the Credit and Debit Card Industry, is equipping its 108,000 member-businesses with signs to be placed at cash registers and tables across the country that promote the benefits of those other forms of payment. Established in 1971, CFIB takes direction from more than 108,000 members in every sector nationwide, giving independent business a strong and influential voice at all levels of government and helping to grow the economy.Details
VeriFone Systems electronic payment solutions announced 4Q/10 results(its fiscal 1Q/11), posting net revenues of $284 million. This compared to $276 million in the previous quarter and $223 million in the year ago period for a 27% year-over-year increase. Services revenue grew by nearly 65% year-over-year and exceeded 20% of total net revenues; non-GAAP gross margins were 41% for 1Q/11, compared to 40% in the prior quarter and 39% last year; and GAAP gross margins were 39% compared to 38% in the prior quarter and the year ago figure of 37%.
In addition to the Hypercom takeover, recent developments include VeriFone’s strategic partnership for the acquisition of Gemalto’s POS solutions business; having announced “PAYware” Mobile Enterprise secure mobile card acceptance solution and services; several important achievements for its VeriShield Total Protect end-to-end encryption solution, the de facto industry standard for protecting cardholder information and reducing risk; and its taxi card payment and digital media solution was fully approved for most taxi models by the London licensing authority. With this, VeriFone foresees net revenues in the range of $280 million to $284 million for the next quarter, along with FY11 net revenues in the range of $1,150 million to $1,160 million.Details
Consumer confidence dropped in February as gas prices soared. With this, on the Discover US Spending Monitor economic confidence and spending intentions fell 1 point to 92.1 after two consecutive monthly gains as only 9% of consumers rate the economy as good or excellent. This is down 1 point from January as 54% still rate the economy as poor, up 3 points from January, while 36% say the economy as fair, down 1-point from January.
The light at the end of the tunnel is there for the 31% disclosing sentiments the economy is improving, but this is still down 2 points from January thanks to the 44% insisting economic conditions are getting worse, which is 4 points higher than last month’s Monitor-low of 40%.
Despite all this, discretionary spending intentions rose in February and 25% expect to spend more in March, a 2-point rise from January. Moreover, 49% expect to spend the same or more in the next month on going out to dinner, movies or sporting events, up 3 points from last month; 49% plan to spend the same or more next month on home improvement purchases, up 3 points from January; and 52% expect to spend the same or more on a vacation or health club membership, up 2 points from January.Details
Western Union global payments has introduced its foreign-exchange (FX) payment service to let small and medium-sized enterprise (SME) business clients make payments from their smartphones. Its available in countries where Western Union currently offers online payment and FX services through its Business Solutions division, including the United States, Canada, the United Kingdom, Germany, Italy, France and Australia, and offers an intuitive interface for customers making international business payments. The service, which offers more than 140 currencies to choose from, allows users to make payments to suppliers in global markets anywhere, anytime, and lock in a currency-exchange rate and fee before transferring funds.Details
Phoenix Managed Networks has forged multi-year agreements with Linq3 Technologies to provide enhanced communications services for state lottery transactions from thousands of ATM machines. The Linq3’s lottery solution allows software integration with all major ATM manufacturers to enable lottery tickets to be purchased with the ATM card in most consumer wallets. Linq3’s service can be added to ATM devices already in the field, speeding deployment to a well-established footprint of hundreds of thousands of ATMs. With this, Phoenix will transport lottery transactions from ATM machines to Linq3’s data centers for initial processing, which will hand the transaction back to Phoenix for secure delivery to debit payment processors and state lottery operators.Details
Moggle’s “Virtual Piggy” service has been awarded the “TRUSTe” Children’s Privacy Seal. Approved by the Federal Trade Commission as a Children’s Online Privacy Protection Act (COPPA) Safe Harbor program, the “TRUSTe” Children’s Privacy Program is is most concerned with protecting the welfare of children and includes only companies focused on child privacy. Backed by strict requirements, the TRUSTe Children’s Seal certifies that Moggle, Inc. is compliant with the COPPA rule. Moggle delivers a technology platform designed for the management of the Under 18 age group in the global online market. The Moggle technology enables online businesses to function in a manner consistent with the Children’s Online Privacy Protection Act (“COPPA”) and similar international children’s privacy laws.Details
eLayaway layaway payment processor has released its eLayaway “Virtual Terminal” brick & mortar version of its popular online layaway application, allowing brick & mortar retailers, telemarketers and home service/repair technicians to offer, manage and automate layaway programs. The “Virtual Terminal” solution automatically drafts the payments from the consumer’s funding preference (checking account via ACH, debit cards and stored-value cards) for orders placed. The “Virtual Terminal” feature is the first all-new feature released under the recently launched eLayaway version 2.0 private beta and expands a merchant’s options when offering layaway in multiple sales channels.Details
BluePay credit card processor for both large and small businesses has engaged Preston Todd Advisors to source specialized payments technology companies for acquisition. BluePay provides secure payment processing solutions to small and mid-sized businesses including POS and e-commerce payment solutions. Preston Todd Advisors specializes in deal origination services and business development in the payments and technology sectors.Details
The TSYS Loyalty & Prepaid president is set to speak at the Prepaid Expo March 6-9 in FL. The Company will address results of a comprehensive online survey commissioned by TSYS and conducted by online research firm Decision Tree Labs. The survey reveals how consumers feel about the use of prepaid cards as incentive rewards and rebates, preferences on closed- and open-loop cards, and the types of consumer behaviors that can be influenced by these popular payment tools. The Prepaid Expo will feature a program highlighting solutions to achieve profitability and increase distribution in the changing prepaid industry.Details
The worldwide PC-Based POS market grew 6.9% in 2010. Shipments grew in all four major worldwide regions with double-digit growth in the Asia/Pacific region driven by new shipments in China, India, Korea, and Indonesia. This, according to IHL Group research, also shows the shipshare of POS units with embedded operating systems from Microsoft increased to 34.1% worldwide; overall, 87.4% of POS Terminals shipped were on DOS or Microsoft Windows platforms; and the shipshare of Linux terminals dropped from 10.1% in 2009 to 8.4% in 2010 worldwide but remains a popular choice in China, Russia, and several other countries around the world.Details