Ideal Financial Updates on Processing Program

Ideal Financial Solutions “Ideal Merchant Services” (IMS) program allows individuals to offer discounted credit card processing to vendors with whom they already do business and to enjoy commissions in perpetuity on transactions made by the business. The “IMS” solution reduces fees associated with credit card processing for the vendor for more than 100 active agents. In January, business increased 200% versus the previous month, February was 250% more than January and March projects at a 300% improvement over February.

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Mitek Systems Check Enrollment App

Mitek Systems has introduced its “Mobile ACH Enrollment” application for mobile payments companies to offer consumers a convenient way to enroll their checking accounts. The “Mobile ACH Enrollment” lets users implement their checking accounts as funding sources for mobile payments quickly by taking photos of blank checks with their smart phone cameras. Consumers can connect their checking accounts to their mobile-payment solutions by typing in a complex set of numbers shown on their checks via their smart phone keypads. These strings of numbers often confuse and frustrate consumers to the point that they either abandon their attempted mobile transactions or enter the digits incorrectly.

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ThreatMetrix to Showcase Online Fraud Prevention

ThreatMetrix fraud prevention solutions that do not require personally identifiable information (PII) is set to present on mobile commerce fraud during the Merchant Risk Council Annual e-Commerce Payments & Risk Conference March 22 – 24 in Las Vegas. ThreatMetrix serves over 350 customers in e-commerce, financial services, payments, social networking/Web 2.0, affiliate marketing and government. On a daily basis, the company’s ThreatMetrix Fraud Network profiles over 15 million devices and screens hundreds of thousands fraudulent transactions. The 2011 MRC conference is focused on helping companies address online payment risks, utilize new global online payment strategies, and increase operational efficiencies in e-commerce.

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Strangeloop Partners with Exclusive Concepts, Speed for Yahoo! Merchants

Strangeloop website acceleration solutions has partnered with Exclusive Concepts to offer its proprietary Site Optimizer service to Yahoo! store merchants worldwide. Yahoo! “Merchant Solutions” hosted platform for ecommerce stores is a partner to Exclusive Concepts online stores seeking to convert online shoppers into loyal buyers, provides a breadth of marketing services – from advanced search engine marketing to conversion testing – to more than 800 merchants around the world. As an authorized Yahoo! partner, Exclusive Concepts will be the exclusive provider of Strangeloop’s website acceleration technology to this market. The Strangeloop Site Optimizer is an automated web performance optimization solution that functions at the scale demanded by global ecommerce sites and enterprise applications. Through partners like Exclusive Concepts, Site Optimizer can be offered as a hosted service, making Strangeloop’s advanced optimization technology accessible to businesses of all sizes.

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Phoenix Partners with InTechnology

Phoenix Managed Networks POS has inked agreements with UK-based InTechnology IT service providers for plastic card transaction delivery. This lets Phoenix use InTechnology’s next generation infrastructure to provide highly reliable and cost-effective data communications services for transaction-based applications to retailers and financial institutions. It also marks Phoenix Managed Networks’ first initiative to penetrate the European market.

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MoneyGram Partners to Launch Remittance Kiosk

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.

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Masabi Launches App for Ticket Purchases Anywhere

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.

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CFIB Against Card Fees, Push for Interac/Cash Payment

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.

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VeriFone Posts Net Revenues Up 27% Y/Y

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.

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Consumer Confidence Falls on Gas Prices

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.

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Western Union Launches FX Payment

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.

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