Flint Telecom to Embark on Prepaid Card Market

Flint Telecom Group, a Telecoms Technology and Services Organization, announces completion of a Letter of Intent to acquire 100% of a U.S. based International Prepaid Debit Card Company. Expected to close within the next 30 days, the acquisition will allow Flint Telecom to supply Americans who have lost their credit standing and provide them a debit card without the need of a bank account. It will also allow corporations and small companies the ability to display their company logo on debit cards for employee expense accounts. These are a few of the many marketing opportunities available to Flint Telecom following this addition.

Details

Mobifusion Unveils Mobile CardReader Solution

Mobifusion mobile value-added services provider and strategic partner for media companies has launched its “CardReader,” giving users a new set of tools to create and browse cards right from their mobile phone. Mobifusion’s “CardReader” features View Cards in Browse Mode or Close View; Simple Tap flips; the Share Feature; the Save Option; and Keyword Search. The “CardReader” is ideal for a variety of Deck Cards including but not limited to: Educational Quotes; GRE/PMP Study Tips; Technology Quotes; Exercise/Yoga Decks; Household Tips and Tricks Cards; Health Tips; Cooking Tips; Author’s Quotes; Photo Galleries; BrainQuest Cards; Kids Learning Cards and Sports Facts.

Details

Fifth Third Processing Solutions Acquire Springbok

Fifth Third Processing Solutions has acquired certain assets Springbok Services in connection with the latter’s Chapter 11 bankruptcy proceeding, including the Springbok reloadable prepaid card processing platform. Developer of full-service, multi-touch prepaid solutions, Springbok employees on processing platform development will also be joining Fifth Third Processing Solutions, allowing the transaction acquirer to immediately expand its processing capabilities to include Visa and MasterCard branded gift cards, general purpose reloadable cards, payroll cards and loyalty programs to further complement its industry-leading debit card and credit card authorization, settlement and back office processing services. Fifth Third Processing Solutions processes 33 billion transactions and over $315 billion in sales volume annually.

Details

CardinalCommerce Adds Internet PIN Debit Payment

CardinalCommerce enabler of payment brands has released its Universal PIN Debit Solution, leveraging its “Cardinal Centinel Universal Merchant Platform”
to enable the online PIN Debit payment option for Internet merchants and their customers. The Cardinal solution upon which UPDS is based has already been
implemented at thousands of Internet and mobile commerce merchants. For merchants, PIN Debit is practically fraud-free and it is a consumer friendly
payment option, contributing to a better way to do business online, for which gateways and service providers there is minimal change and no
disintermediation. For the Debit Networks, it provides a new service for their Issuer clients. It is an extension of Cardinal’s proven technology and
intellectual property. Cardinal’s UPDS will enable an online PIN Debit transaction to easily flow through a merchant’s existing order management systems,
gateways and processors.

Details

eLayaway Renews Contracts with Venue

Venue merchant retailer has renewed its contract with the eLayaway layaway payment processor to continue use of the payment processing system. Venue is a privately-held online merchant and direct retailer of brand-name consumer products that conducts business and sells its products to the public via its popular Venue.com website to allow online merchants to offer an opportunity to affordably provide a layaway payment option to their customers. This allows the merchants to expand market share while reducing the administrative requirements of traditional layaway.

Details

Lower-Income Shoppers Represent $115b Opportunity

Lower-income consumers frequently shop but generally spend less per trip than average, often shopping with only a paycheck or pocket cash. African American lower-income consumers make the most retail shopping trips per year with 177 trips, seniors make 169, and Hispanics make 168. Lower-income households with children spend the most at $39.65 per trip, followed by younger households at $37.58.Lower-income shoppers will generate $115 billion in incremental spending during the next decade, according to SymphonyIRI Group and its fourth annual “The Lower-Income Shopper Report: Serving Lower-Income/Multicultural Shopper Micro-Segments” research report. At the same time, 49 percent of lower-income shoppers are much more likely to track their spending during the trip and make budget driven decisions on the fly versus 38 percent of higher-income shoppers. During the past two years, half of lower-income shoppers report that they have decreased spending in discretionary areas, including home furnishings and furniture, in order to better afford essentials, such as food and healthcare.

Details

3Delta Systems Appoints New GM, Treasury Services

Daniel L. Miner has been appointed GM, treasury services with 3Delta System online credit card payment solutions. Bringing with him nearly 30 years’ payment industry experience, Miner will lead 3Delta Systems’ business development and help define products in the treasury management segment of the market, responsible for strengthening 3DSI’s business-to-business payments processing platform, broadening its product line for payment receivables and disbursements as well as enhancing the company’s business processes and organizational controls. He came to the Company most recently from Treasury Strategies treasury management consultancy while, between 2004-2008, he served as senior director of electronic check and affiliate NACHA, where he led its two largest membership programs and led risk management initiatives for the ACH network. He holds a BA, science in business administration from the University of Illinois.

Details

Gemalto Production Center NASPO Security Certified

Gemalto’s US-based advanced manufacturing and service center has received the security assurance certification from the North American Security Products Organization (NASPO). The audit renewed the certification of Gemalto’s security practices and procedures against the ANSI/NASPO Class II “Assurance Standards for the Document and Product Security Industries.” With this accredidation, Gemalto passed NASPO evaluation of its manufacturing and services processes, security controls for the supply chain and critical component suppliers, as well as policies and procedures to ensure only authorized customers have access to finished products. The facility produces, personalizes and delivers a broad range of secure products, including credit and debit cards, contactless payment cards, subscriber identification modules (SIMs) and universal identification cryptographic cards (UICCs) for mobile telecom.

Details

Card Activation Technologies Files for Patent Infringement

Card Activation Technologies has filed a suit against seven large national retailers. The retailers include convenience stores, specialty apparel and clothing stores, fashion accessory and jewelry stores, casual dining restaurants and consumer electronics stores for utilizing its stored value cards and consequently infringing its patents. The Company is actively seeking to license its patent to the thousands of current users. The total number of stores included in all of the above is approximately 15,000. IL-based Card Activation Technologies owns the patent rights to a proprietary payment transaction method used for processing gift cards and other debit purchase transactions.

Details

USA Tech Sees 2Q/10 Gross Profit $1.5mm

USA Technologies wireless non-cash transactions has reported a total
revenue for 2Q/10 having increased by 23% to $4.5 million, compared to
$3.6 million in the year ago period. Also since the year ago period,
gross profit more than doubled to a record $1.5 million from $690,000;
gross profit margin expanded to 34.0%, compared to 18.9% a year ago;
while EBITDA improved to a loss of $1.6 million for the quarter, and
improvement from the year ago loss of $2.5 million. The Company also
increased the number of devices connected to its network by 58% to
approximately 82,000; the number of cashless transactions processed
during the quarter increased by 73% to 11,655,000, compared to the year
ago figure of 6,736,000 transactions processed; the dollar value of
transactions processed during the fiscal fourth quarter increased by
54% to $20.8 million, compared to $13.5 million last year; and
approximately 150 new customers were added to its “USALive Network”
throughout the quarter for a 100% increase during fiscal 2010.

USA TECH EARNINGS
2Q/10 2Q/09
Net Loss $ (2,089,803) $ (2,918,336)
Interest Income (48,281) (19,693)
Interest Expense 12,184 20,050
Depreciation 264,273 161,566
Amortization 258,600 258,600
EBITDA $ (1,603,027) $ (2,497,813)
SOURCE: USA Technologies

Details

PaymentOne Launches mPayment Network

PaymentOne has introduced its “AnyPhone” payment services that provide simple and secure options for online and mobile consumers to pay for their virtual currency, digital subscriptions, mobile applications and other online services from virtually any device. The “AnyPhone Network” enables over a billion worldwide consumers to have their common digital transactions, including their virtual currency on social media and/or subscriptions to their favorites online services, charged to their existing and trusted mobile, broadband or home phone bill. The “AnyPhone Network” is offered to large scale and emerging publishers, developers and merchants and is built for rapid deployment and customization with a small piece of auto-generated HTML code and highly customizable iframes.

Details

Western Union Expands Canadian EnStream mRemittance Solution

Canadian-based EnStream has partnered with Western Union global payment services to allow its “Zoompass” users to send cross-border and domestic money transfers directly from their mobile phones. The “Zoompass” solution provides Canadians a way to send, receive and request digital currency within Canada using their mobile phones. With the Western Union partnership, users will be able to send funds directly from their mobile wallets while recipients can pick up their funds in cash at more than 380,000 Western Union Agent locations in 200 countries and territories. Zoompass users also will be able to send mobile-to-mobile transactions to subscribers of mobile phone companies with whom Western Union has launched the Mobile Money Transfer service.

Details