VeriFone 2Q/10 Revenue Up $20mm Q/Q

VeriFone Holdings secure electronic payment solutions posted its 2Q/10 net revenues of $261.0 million, compared to $241.0 million in net revenues in the previous quarter, and $211.2 million in the year ago period. Non-GAAP gross margins were 39.0%, compared to 39.0% in the prior quarter, and 37.0% for the comparable period of 2009. During the quarter, VeriFone North American outstanding revenue was up 39% from the comparable period of 2009, while internationally revenue was up 13% since the year ago period, mostly thanks to Latin American business having grown 73%, also since the year ago period. Additionally, VeriFone’s Services revenue increased 66% year-over-year. VeriFone expects 3Q/10 net revenues of between $258 million to $263 million.

REVENUE HISTORICAL
4Q/06: $216.6 million
1Q/07: $217.2 million
2Q/07: $231.7 million
3Q/07: $237.9 million
4Q/07: $185.5 million
1Q/08: $233.0 million
2Q/08: $258.7 million
3Q/08: $244.7 million
4Q/08: $214.0 million
1Q/09: $201.6 million
2Q/09: $211.2 million
3Q/09: $217.8 million
4Q/09: $223.4 million
1Q/10: $241.0 million
2Q/10: $261.0 million
Source: CardData (www.carddata.com)

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Bridge Community Bank Participates in NACHA Pilot

Bridge Community Bank signed on with Aptys Solutions payments network provider to implement the “PayLOGIX” system. The common platform supports payment processing image exchange, ACH processing, wire processing, payments archive, Federal Reserve messages, least cost routing, in-network exchange (INEX) payment processing and mobile payments. The image exchange, ACH, and least cost routing components of “PayLOGIX” will allow Bridge Community Bank to participate in the NACHA-initiated Deposited Check Truncation (DCT) Pilot launching in August to identify and quantify cost savings for both originating and receiving financial institutions, as well as the ability of the ACH Network infrastructure to support these truncated items.

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STAR Network Introduces Pin Debit App

The STAR Network introduced its STAR “CertiFlash” PIN debit application. Strengthening POS security with one-time card number technology, the STAR “CertiFlash” technology is programmed onto a contactless chip embedded within a payment device. For each transaction, the chip encrypts and transmits a card number that is good for only a single use. With this, the consumer’s real account information is not used in the payment transaction, and so would not be available via STAR “CertiFlash” transactions to criminals hacking into a merchant’s system. The STAR EFT network has more than 2 million retail and ATM locations and is a First Data company.

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Fiserv Launches Check Capture For Smartphones

Fiserv financial services has launched its “Mobile Source Capture” remote deposit capture solution to extend remote check capture to camera-equipped mobile phones. Leveraging Mobile Deposit technologies from Mitek Systems, “Mobile Source Capture” is a downloadable application for camera-equipped smartphones that allows users to securely take a picture of the front and back of a check and deposit the item electronically, without ever having to visit a branch, an ATM, the office or home. Users of Mobile Source Capture can deposit a check instantly from wherever they are to the financial institution for processing, clearing, settlement and posting.

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Ideal Goodness Launches IMS B2B Card Processing

Ideal Financial Solutions has added its new business to business income producing opportunity for its club members, adding to the company’s ever-diversifying programs to enable club members to earn residual income while continuing to help feed those in need. Ideal Financial Solutions (www.idealfsi.com) provides the education, support and automated tools to create additional cash resources, rapidly eliminate all non-asset-building debt and build financial independence. In debt relief services, Ideal uses its automated “CashFlow Management” tools and its Credit to Wealth Systems to assist individuals, families and small businesses in building financial independence.

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Hypercom Launches P2P Encryption System

Hypercom has made available its “HyperSafe Secure EFTSec Server 2.0” point-to-point payment data encryption system for processors and ISOs supporting Tier 4 merchants using Optimum T4200 countertop and M4200 mobile payment terminals in the United States. A key component of Hypercom’s “HyperSafe Secure” suite, “EFTSec 2.0” encrypts cardholder data during transaction processing, starting at the payment terminal and ending at a trusted point where the data is decrypted. The “EFTSec 2.0” leverages Hypercom’s proven EFTSec technology, which is the industry standard for payment terminal initiated link encryption in Asia and is the largest operational end-to-end encryption implementation worldwide.

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Over 50% of Consumers Prefer Gift Card Exchange

More than 50% have a more positive impression of retail brands when they are given the flexibility to either sell a brand’s gift card for cash or use it at another online retail store. Also,
60% disclosed finding a brand’s gift cards for sale online at a 20% discount would improve their opinion of the brand, while the remainder would not change their opinion. These findings, according to Plastic Jungle gift card exchange, additionally found consumers find gift cards much more valuable when they can trade it from one store to another. Plastic Jungle gift card exchange lets users sell, buy or donate gift cards in a trusted environment.

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Bank of the West Selects ClairMail mBanking

SF-based Bank of the West has selected ClairMail mobile banking and payment solutions to power its mobile banking service. The Bank’s decision was based on knowledge of ClairMail’s industry expertise, approach and mbanking platform. The mobile platform will give Bank of the West the flexibility to connect to multiple financial systems and future-proof their mobile powered offerings. The ClairMail mobile banking solution will enable Bank of the West customers to access their accounts via mobile web, SMS, and a client application on virtually any mobile device including the iPhone, empowering them with greater control over their personal finances.

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Bostonians More Upbeat About Economy Than National Pop

Boston residents’ outlook on the future has declined from nine months ago yet they remain more upbeat about the economy than Americans nationally, with 61% seeing local business conditions getting somewhat or much better in the next 12 months. This is much more hopeful than the 53 of adults nationally whom believe local business conditions will improve. This, according to Citi, also shows 54% of Bostonians think the economy has yet to hit bottom, compared to 62% nationally. Additional findings show 64% of Boston residents are somewhat or very optimistic that their own financial situation will get better over the next 12 months, a four point decline since September; 56% of Bostonians believe it will be at least two or three years, if not longer, before the economy stabilizes for their household; 34% of Bostonians are very uncomfortable with their level of debt, an increase of 6 points since September 2009, compared with 33% of the national population; and 24% of Bostonians have at least one area of debt that constitutes a major or unmanageable problem.

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American Express Launches US Open Campaign

American Express is inviting its Cardmembers to go behind the scenes during the 2010 US Open and see what it is like for fast-rising tennis stars in training through its latest website, NextContenders.com. With this, the network is also bringing back Radio Live, allowing fans to listen to play-by-play commentary and match updates on CBS, ESPN2 and the Tennis Channel while they watch the action live from the courts. Additional features include the official US Open iPhone application; USOpen.org Radio internet radio broadcast, Presented by American Express; US Open Guest Information hosted by American Express to help attendees make the most of their experience at the tournament and stay in the know about all of the exciting activities surrounding them; the American Express Concierge Booth, exclusively for Cardmembers; and Madison Square Park US Open Viewing hosted by ZYNC from American Express.

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PAR QSR POS Software Live at Carl’s

The ParTech (PAR) “EverServ” QSR point-of-sale (POS) software has been successfully implemented at two significantly different quick service restaurant locations. This demonstrates the flexibility and scalability of the solution. PAR launch partner S.L. Investments (CKE Franchisee) has implemented EverServ QSR in its Carl’s Jr. restaurant in Las Vegas, Nevada and plans to roll out the solution to 37 of its Carl’s Jr. restaurants by the end of 2010. SIP Coffee House, a single unit operator of a European style coffee house in San Antonio, Texas, has also successfully deployed the EverServ QSR solution.

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Wells Fargo mBanking Awarded by Juniper

Wells Fargo has been awarded the 2010 Future Mobile Award from Juniper Research. Wells Fargo Mobile offers secure mobile banking which enables consumer and small business customers to access to their Wells Fargo accounts via three easy ways including text messaging (shortcode 93557), mobile website (wf.com), and downloadable applications for four of today’s most popular smartphones and platforms. Customers may access wf.com through Android™, BlackBerry®, iPhone and iPod touch, and Palm mobile banking applications (“apps”) to quickly check their accounts, pay bills, transfer funds between accounts or to another customer, and find the nearest Wells Fargo ATMs. Wells Fargo also pioneered text enrollment for mobile banking, enabling customers to sign up for text banking directly from their mobile phones, whether or not they bank online.

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