USA Tech August Cashless Transactions Hit $100mm

USA Tech Fiscal 1Q Processes 14mm Transactions
USA TECH
USA Technologies wireless non-cash transaction network throughout its 1Q
ended September 30 processed for its customers nearly 14 million
transactions for a total of $24.5 million, up year-over-year 89% and 68%
respectively. The Company also has slightly over 1,200 customers
connected to its ePort Connect Service, up from the 1050 in the quarter
ended June 30, for which it is expanding feature set and functionality.
Improved functions are to include faster transaction times; more
efficient transfer of customers’ operational, or DEX (Data Exchange)
data, over the ePort Connect network; improved efficiency and
versatility of the USALive online reporting function through increased
speed and the ability for customers to create and automate custom
reports from their own locations; increased server capacity to enable
continued expansion; and an online ordering and contracts system for
faster and more convenient processing of orders and contracts. This comes
on the heals of the latest reports disclosing the Company saw an August
2010 small-ticket transaction volume of $8.3 million, putting the Company
on an annualized run rate of approximately $100 million. This is an increase
of 72% versus August 2009 through its ePort cashless payment systems for
vending machines, kiosks and other unattended POS terminals while total
transactions processed hit 4.6 million, an increase of 98% over total
transactions processed in August 2009. On September 2, 2010 USA Tech reached
a record of over 200,000 transactions processed in a single day on its ePort
Connect Service through its nearly 82,000 connections on its service versus
52,000 connections as of June 30. With this momentum, the hopes to have
100,000 devices connected to its network by December 31 for a positive
EBITDA(CF Library 2010/09/14).

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LogicWorks Achieves Level 1 PCI DSS

Logicworks enterprise hosting and cloud solutions for high-availability content has received Level 1 PCI accreditation and is now offering an integrated hardware, software and professional services solution. Allowing customers to achieve complete PCI compliance in less time and at lower cost, Logicworks’ certification and solution addresses all 10 of the 10 requirements that a service provider can handle on behalf of a customer and cover encryption of credit-card data at the point-of-sale, during transmission to clearinghouses, and physical security of data centers where credit-card data are stored. The comprehensive Logicworks PCI solution covers both the on-boarding process – which includes the design and building of a PCI-compliant environment, as well as the ongoing maintenance process – which includes log review and management, vulnerability testing, intrusion detection and change management procedures.

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nFinanSe Launches $3 Reloadable Prepaid Debit Cards

nFinanSe has launched the $3 Visa and $3 Discover “Reloadable Prepaid Debit Cards” at Cumberland Farms convenience store locations throughout New England, the mid-Atlantic and Florida. The nFinanSe’s Reloadable Prepaid Visa and Discover Cards retail for $3, have a $2.95 Top-Up Fee, a Monthly Maintenance Fee of only $2.95, FREE 24/7/365 Live Agent Customer Service in English and Spanish, FREE Employer Direct Deposit, FREE Real-time Transaction Text Messages and FREE PIN and Signature Transactions. They are issued by Palm Desert National Bank, Palm Desert, CA, Member FDIC, pursuant to a license from Visa Inc. The nFinanSe Discover Reloadable Prepaid Card is issued by Palm Desert National Bank, Palm Desert, CA, Member FDIC, pursuant to a license from Discover Network.

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FIS

FIS banking and payments technology has inked a 3 year outsourcing agreement to provide ING Direct France with extended outsourced application management services for the FIS “Profile” core banking suite. This allows ING Direct France to continue to benefit from “Profile’s” robust functionality and real-time availability, while realizing significant cost savings. Benefits include flexibility in resourcing and building upon Profile’s ability to scale in support of new projects and migration of accounts. FIS is among the largest global providers of banking and payments technologies.

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Hackers Make 60,000 Fake Sites Weekly

Hackers are creating 57,000 new websites each week that exploit approximately 375 high-profile brand names worldwide at any time. Notably, eBay and Western Union-related URLs comprise 44 percent of all malicious sites, with Visa, Amazon, Bank of America and PayPal also heavily targeted by cybercriminals. These findings, based on a three-month long study conducted by PandaLabs of its global malware database, show in order the 10 most beleaguered brands, along with the percentage they are targeted among all fake websites tracked by PandaLabs, include; eBay(23.21%); Western Union (21.15%); Visa (9.51%); United Services Automobile Association (6.85%); HSBC (5.98%); Amazon (2.42%); Bank of America (2.29%); PayPal (1.77%); Internal Revenue Service (1.69%); and Bendigo Bank (1.38%).

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Zuora mPayments Appoints New CFO

Tyler Sloat has joined Zuora subscription billing as CFO, bringing with him financial experience in securing capital and growing market leaders in mobile payments and storage and cloud computing, including raising over $100 million for Obopay. He will over see mobile payment operations in his new role. Most recently, Sloat was the CFO for Obopay, the global leader in mobile payments where he was responsible for all finance, accounting, treasury operations and business intelligence functions. Sloat was integral in raising well over $100M in investment and strategic capital, forming global commercial relationships with the likes of Nokia, MasterCard and Societe Generale, and deploying Obopay’s mobile payment service in four countries spanning three continents. He holds an M.B.A. from the Stanford Graduate School of Business and has a B.A. from Boston College.

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Applebee’s Launches Digital Gift Card

Applebee’s has introduced its Digital Gift Cards allowing people to buy and send electronic gift cards online via Applebees.com : http://www.applebees.com and Applebee’s Facebook Fan Page : http://www.facebook.com/#!/applebees?ref=ts . Applebee’s Neighborhood Grill & Bar, the world’s largest casual dining restaurant chain, is the first in its industry to make digital gift cards available on Facebook : http://www.facebook.com/#!/applebees?ref=ts as well as its own Web site : http://www.applebees.com/. Digital Gift Cards includes Buy and send online instantly, 24/7; Record personalized voice or video message; Send to mobile device and to e-mail address; Post on Facebook; Customize with photos and personal messages; Text notifications and receipts; and the Ability to purchase for future delivery.

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ScanSource Creates Partner Matching Tool

ScanSource has released its “SUMO” online tool to provide networking and partnering opportunities for value-added resellers (VARs), hardware vendors and independent software vendors (ISVs). An international online “networking community” supported by all ScanSource business units, “SUMO” is comprised of hardware manufacturers, ISVs and VARs. Encompassing a Google(R) search appliance, SUMO allows members to seek out potential partners by entering specific search criteria into a search bar, which then returns companies that match the search criteria. It can also help VARs create alliances by identifying companies with specific technology or vertical market expertise. ISVs looking for help marketing their software solutions can identify high potential VAR partners. Hardware vendors can locate VARs with specific skillsets in certain geographies to help close deals.

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GETI Certifies 1stTransaction Payment Software

Global eTelecom (GETI), an electronic check processing and gift/loyalty card provider, and 1stTransaction Corporation, developer of integrated point of sale payment systems, proudly announce the certification of TransactionX, a validated payment application for Windows®. TransactionX is easy to set up and allows for the configuration of multiple GETI programs into a single interface. In addition, it unifies the merchant’s transaction processing for checks, credit cards, debit cards and electronic benefits into a single application. Benefits include one-click access to transaction details, support of many imagers, driver’s license swipe capture, and stored account data.

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Dynamics Introduces Mobile Payment Card Device

Dynamics next-generation payment devices is launching its “Card 2.0” mobile device in a card form factor at “DEMO Fall 2010” emerging technology conference. Having closed $5.7 million in Series A financing, led by Adams Capital Management, the mobile device in a card form is paper-thin, includes the “Electronic Stripe” fully card-programmable magnetic stripe which can be read at any existing POS magnetic stripe reader, and can change any bit of information on this programmable stripe at any given time. The “Card 2.0” solution is designed to be as durable as a traditional payment card and last over three years on a single battery charge. Two of its signature applications include the “MultiAccount” device featuring two buttons on the face of a card, next to which is a printed account number and a light source. The user can select an account by pressing one of the buttons. Another of its applications is the “Hidden” solution, with five buttons on the face of a card and a paper-thin flexible display, for which to turn the device ON, the user must enter a personal unlocking code into the card for operational use.

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FINARCH

Financial Architects (FinArch) integrated reporting, finance and risk solutions has earned the ‘Lion of the Export’ award. The ‘Lion of the Export’ annual award, organized by Flanders Investment and Trade, recognising Flemish companies that combine impressive export achievements with a durable and socially-involved strategy. FinArch was awarded as such based on its continued positive export numbers, solid export strategy and ethics and sustainability as business imperatives. All of which is even more impressive given the difficult market conditions we all face.

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FIS

Unicredit Bank financial services is installing NCR “Solidcore Suite for
APTRA” multivendor ATM software security solution with real-time
centralized management that prohibits the introduction of unauthorized
code on ATMs and protects them from insider attacks. The software is
being installed on Unicredit’s entire multivendor ATM network in its
branches. NCR Solidcore for APTRA proactively allows only authorized
code to run, rather than reacting to known attacks as they arise.
Specifically, Solidcore for APTRA automatically creates and updates the
inventory of good code and protects the system’s memory so that
authorized code cannot be modified, deleted or hijacked.

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