TSYS has acquired the remaining 49% interest in First National Merchant Solutions (FNMS) from First National Bank of Omaha (FNBO) and will subsequently be re-branding it “TSYS Merchant Solutions.” TSYS formed a joint venture with FNBO in April 2010, when it acquired a 51% controlling interest in the direct merchant acquirer and transaction processor. TSYS acquired the remaining 49% for approximately $169.6 million. The transaction closed Jan. 1, 2011.FNMS offers transaction processing, merchant support, credit underwriting, risk management and value-added services, as well as Visa and MasterCard branded prepaid cards for businesses.Details
VeriFone Systems and Gemalto announced further developments in their broad strategic partnership, which will feature cooperative efforts in EMV chip card solutions, Verifone taking control of Gemalto’s POS solutions business and Gemalto’s appointment as the preferred supplier of Machine-to-Machine (M2M) wireless modules and related solutions for VeriFone payment systems. With this, they will introduce EMV chip and pin solutions for the U.S. market as U.S. banks, retailers and card networks increasingly acknowledge chip card and contactless technologies as a core component of a comprehensive security infrastructure. The partnership EMV smart card solutions will offer expertise for both issuing and accepting smart cards for a ready infrastructure to advance the U.S. market towards a much more secure and convenient payment method. Gemalto has been designated VeriFone’s preferred supplier of M2M wireless modules and related solutions. For VeriFone’s planned European expansion campaign, the partnership will operate out of France and serve as an ideal initial step. This expansion came within days of VeriFone having taken-over Hypercom. This only after unsolicited September 24th, 29th and 27th proposals Verifone made to acquire Hypercom outstanding shares for $5.25 per share in cash for a total of $290 million, all unanimously rejected by the Hypercom Board (Cardflash Library 2010/10/21).Details
First National Bank of Bangor, Wisconsin, has gone live with the IBT financial services’ “i2Core” banking solution. The “i2Core” platform utilizes the latest in available technology to deliver real time information across all customer delivery channels. IBT’s design increases its value proposition with the delivery of real time transactional alerts to mobile devices and i2OLB (On-Line Banking), coupled with instant access to images processed through i2Teller (Teller Capture) and i2RDC (Remote Deposit Capture). This customer-centric innovation model continues to keep pace with the consumer demands in the financial services industry.Details
On Track Innovations contactless smart card solutions has entered into an agreement through its PARX subsidiary to acquire the assets of Ganis Systems parking solutions to benefit its marketing and product offering. This will let OTI leverage Ganis’ existing projects and pipeline of opportunities mainly in the European and North American parking markets. OTI plans to bring its financial and implementation capabilities into selected projects and opportunities Ganis has built to offer its customers parking needs in the long term. For acquisition consideration OTI will pay Ganis $400,000 in cash and will issue to it 130,521 ordinary shares of OTI. The ordinary shares will be subject to lock-up, where 26,760 ordinary shares will be free from lock up seven months after the closing date and an additional 34,587 ordinary shares will be released from lock-up 12, 18 and 24 months after the closing date.Details
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Gemalto has closed the divestment of its POS solutions business to US-based VeriFone Systems secure electronic payment solutions, for which financial terms were not disclosed. The cooperation also includes the joint launch of EMV chip card solutions in the US and an agreement for Gemalto to become VeriFone’s preferred supplier of…Details
United Bank Card (UBC) ISO partners are now able to offer potential merchants a free “Harbortouch” POS system with integrated payments The “Harbortouch” POS offers higher than average residuals and virtually non-existent attrition while providing a valuable tool to merchants. The standard “Harbortouch” system utilizes 5-wire resistive technology to help it last up to 35 million touches and features 160GB of storage space and 1GB DDR2 memory. Additionally, the “Harbortouch Hospitality 3.0” improves significantly on its predecessor with the addition of new Harbortouch Retail software that is wizard-based to guide the merchant step-by-step through the initial setup. This simplified setup process and intuitive user interface offer an easy transition for merchants so they can take advantage of all the benefits of POS without all the hassle.Details
Discover Financial Services is offering a lineup of cardmember exclusives at the 2011 NHL All-Star Game. This lets its Cardmembers purchase premium tickets to the game by redeeming Cashback Bonus rewards. It also gives qualified customers 2 Tickets to the Honda NHL SuperSkills on January 29; 2 Tickets to the NHL Fan Fair; and an NHL All-Star Game gift bag. Discover is the presenting sponsor of the NHL All-Star Game and is the Official Card of the NHL, NHL All-Star Weekend, NHL Winter Classic, NHL Awards, and the NHL Draft.Details
Four credit unions recently selected Open Solutions’ “DNA-sme” (Standard Market Edition) as their core processing solution. These include three Danville, IL credit unions; Danville Consolidated Credit Union ($6 million in assets), Education Personnel FCU ($35 million) and New Horizon Credit Union ($10 million), as well as Los Angeles, CA based, Hanin FCU ($20 million). The credit unions chose “DNA-sme” due to their existing, successful relationships with Open Solutions. The “DNA-sme” is an open, flexible core system, built on a strong, centralized relational database, designed to be a full-featured, easily implemented and reasonably priced solution targeted toward the more community-oriented credit union market. Open Solutions provides integrated, enterprise-wide data processing technologies for banks and credit unions throughout the United States, Canada and other international markets.Details
The Department of Post (DoP) is set to introduce its “White label Pre-paid Cards” in association with IDBI, HSBC and ICICI banks to rural people for non-cash transactions.
The card will come with pre-determined cash value and could be operated at merchant locations, ATMs and designated post offices subject to approval by the Reserve Bank of India (RBI). The DoP will also finalize the vendors for information technology solutions, for customer interaction management, mail operations, banking, postal life insurance, enterprise-wide human resource management, among others.
Michael I. Connolly has been elected to the Global Axcess self-service kiosk solutions Board of Directors, which now consists of seven members. Connolly is the founder/CEO of Mount Juliet Ventures, where he has served as CEO or Board member of a variety of both public and private companies, and had responsibility at Mount Juliet Ventures for capitalization, leadership development, profit and loss, and exit strategies for client companies. He also helped create value for Blockbuster, Jamba Juice, Great Clips for Hair, Chili’s, Supercuts, SoftBrands, ElderLife, BuyerZone, Insignia Systems, ElderCarelink, and The Hotel Donaldson. Connolly also was the founder and President of the Tax and Business Services Division at American Express; has a BA in History from Pomona College and an MBA with honors from the Harvard Business School.Details
FICO analytics and decision management has made available its ‘version 7.1’ of its “Model Builder” to let analytic developers discover, design and deploy predictive analytics for high-volume decisions. The “Model Builder 7.1” combines industry breakthroughs in scorecard development functionality with a highly visual interface and 64-bit certification to solve very large modeling problems. By dramatically accelerating model deployment, Model Builder can reduce model deployment costs by as much as 75%, while shortening time to value and improving model ROI.Details
Education First Credit Union of Columbus, Ohio, and USA One Credit Union of Matteson, Illinois, have signed credit card processing agreements with Fifth Third Processing Solutions. The two credit unions pointed to Fifth Third Processing Solutions’ partnership approach and proven experience growing yield and managing risk as the key reasons they selected the company as their new card processing partner. Both credit unions will have access to easy-to-use portfolio management tools, which enable them to internally manage daily monetary adjustments, including fees, balance transfers, and routine cardholder account updates.Details