Cubic Promotes 3 New VPs

Cubic Transportation Systems has made three executive promotions to Vice President. The promotions include Carl Adrignola, Steve Brunner and Matt Newsome. Adrignola, who had been a contracts director for Cubic since 2008, is now vice president of contracts. He has more than 35 years of experience in both commercial and government contracts administration and management. He graduated from San Diego State University with a bachelor’s degree in business management. Steve Brunner and Matt Newsome, previously regional directors at Cubic, have been promoted to vice president and regional director for their respective regions in North America where Cubic currently does business and is seeking to expand.

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June MPR Up .26% M/M

Monthly Payment Rate performance for the month of June rebounded after a one month dip, reporting an increase of 26 bps to 14.22% and a 10% improvement year over year. The June MPR improvement, compared to the year ago figure of 16.04%, is consistent with seasonal patterns and driven by seasonal factors as well as fundamental changes in cardholder payment trends. Compared to the May figure of 13.96%, MPR was up .26% month over month. Historically, the MPR sees a slight uptick in June, as has been the case since the start of the current recovery, a trend lost last year with the onset of the recession. For complete details on current and historical MPR data, visit CardData.com (www.carddata.com).

MONTHLY PAYMENT RATE
Jun 09: 16.04%
Jul 09: 17.12%
Aug 09: 16.96%
Sep 09: 16.59%
Oct 09: 17.77%
Nov 09: 17.66%
Dec 09: 17.23%
Jan 10: 17.15%
Feb 10: 15.95%
Mar 10: 18.79%
Apr 10: 14.61%
May 10: 13.96%
Jun 10: 14.22%
Source: CardData (www.carddata.com)

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TrustCash mPayment Supports RIM BlackBerrys

TrustCash Holdings has completed the alpha development and integration of all RIM BlackBerry devices. Now the BlackBerry “Curve,” “Storm” and “Bold” offer users credit card processing and cash depositing for all purchases through the TrustCash m-payment gateway. In 1Q/10 RIM has sold 11.2 million devices and seen an increase in sales of 43% when compared with sales figures a year ago. TrustCash eCommerce technology infrastructure provides merchants with open access, PCI compliant payment processing for online businesses with advancements in payment solutions.

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Banks Respond to Regulation E with mBanking

Javelin’s “Reg E and Overdrafts: How Financial Institutions Can Use Mobile to Increase Profits Post Reg E” report has concluded, because Regulation E is compromising bank revenue with overdraft fee regulation, banks are either trying to preserve those fees or adapt. One way is offering customers mobile banking, offering immediate alerts when an overdraft occurs. The report concluded m-banking allows banks to communicate more effectively with their customers through real time updates; consumers most want a warning that an overdraft is about to occur; the young and ‘newly banked’ are most likely to incur overdraft fees; and consumers cite ‘too many fees’ as the No. 1 reason they leave their financial institution.

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Paymetric Partners with UTA, Expands Payment Options

Paymetric integrated and secure enterprise payment acceptance solutions has partnered with United Tranz*Actions (UTA) to offer clients more efficient payment acceptance options. With this, customers are given access to ACH and eCheck solutions that can improve cash flow, reduce exposure to bad debt and increase customer satisfaction. The combined functionality of Paymetric’s and UTA’s offerings can be integrated with a company’s existing enterprise systems, presenting no disruption to the normal order-to-cash workflow. Paymetric customers also are given access to UTA Remote Deposit Capture, ACH Processing with Guarantee, Check Guarantee and ACH Processing.

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Men 6% Less Optimistic Than Women on Economy

With optimism on the economic future on an overall decline, women’s outlook has held almost steady while men are much more skeptical. With current assessments of local economic conditions having ticked up 3 points since March for men (24%) and 4 points for women (23%), only 50% of men believe that the business conditions where they live will get somewhat (46%) or much (4%) better in the next 12 months, compared with 56% of women who believe that business conditions will get somewhat (51%) or much (5%) better. For men this represents an eight-point decline from three months ago when 58% of men thought conditions would improve, but just a three-point decline for women from 59% in March. This, according to a recent Citi survey conducted by Hart Research, shows 62% of men are somewhat (47%) or very (15%) optimistic that their own financial situation will get better over the next twelve months, a four point decline since March. This may have to do with the fact 16% of women believe they are personally better off than a year ago, up three points since March.

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Wright Express to Acquire ReD Cards

Wright Express payment processing has entered into a definitive share purchase agreements to acquire the Australian assets of Retail Decisions consisting of its fleet and prepaid card businesses from Palamon Capital Partners, Morgan Stanley and AlpInvest Partners for approximately AU$353 million in cash. The all cash transaction is anticipated to be immediately accretive to the Company’s adjusted net income and is expected to close in the third quarter. ReD Fuel multi-branded fuel card issuer has 270,000 cards in circulation, accepted at approximately 90% of Australian fuel retailers; as a processor of prepaid cards holds a 60% market share; and generated 2009 revenues totaling AU$61.4 million combined.

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2B Soft Launches the PreCash Bill Payment Solution

B2B Soft and PreCash have launched the PreCash Bill Pay service in B2B Soft’s Wireless Standard, a total-store-management software solution for wireless dealers. The PreCash Bill Pay service is now a turnkey option available to Wireless Standard users. With PreCash, Wireless Standard clients can now process payments and deposits from cash-paying customers directly though their POS. Having the PreCash Bill Pay service tied to their POS reduces the opportunity for fraud and minimizes keying errors that can occur when a wireless dealer has to go between two systems. Wireless Standard user now have access to the more than 150 bill payment options available through PreCash, including popular wireless services like AT&T, Sprint, T-Mobile and more.

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CRE Secure Integrated With EMS Gateway

CRE Secure secure payment solution for online merchants has integrated its PCI-compliant payment acceptance service into Electronic Merchant Systems’ (EMS). With this, CRE Secure-enabled merchant customers are redirected to CRE Secure’s hosted payment platform (based on patented HTML clone design) through a window that seamlessly mirrors the merchant’s web site. Merchants utilizing CRE Secure’s service achieve full PCI DSS compliance relative to their processing of card payments online. Electronic Merchant Systems merchant processing services and electronic transactions processes and safeguards electronic payment transactions.

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RIA & Cash Store Financial Ink Seven-Year Agreement

RIA Financial Services of Euronet Worldwide has inked a seven-year agreement with Cash Store Financial Services to supply money transfer services across the Cash Store Financial Canadian network of 523 Cash Store and Instaloans branches. The agreement provides access to a further 90 branches with high levels of remittance traffic and ensures future branches will be able to offer money transfer services to customers. By adding 90 previously restricted outlets to their money transfer offering, RIA is focused on increasing both customer and revenue growth. Euronet’s global payment network includes 10,408 ATMs, approximately 57,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 30 countries; card software solutions; a prepaid processing network of approximately 515,000 point-of-sale terminals across approximately 241,000 retailer locations in 23 countries; and a consumer-to-consumer money transfer network of approximately 104,400 locations serving 120 countries.

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FICO Reports 2Q/10 Revenue of $155MM

FICO analytics and decision management technology posted 2Q/10 net income of $17.9 million, compared with the year ago net income of $18.1 million, and revenues of $155.3 million, compared to the 3Q/09 figure of $156.0 million. Revenues came from applications revenues of $91.4 million, compared to the 3Q/09 figure of $94.6 million for a 3% decrease; scores revenues of $46.5 million, compared to the 3Q/09 figure of $45.3 million for an increase of 3%; and tool revenues of $17.4 million, compared to the 3Q/09 figure of $16.1 million for an increase of 8%.

FICO REVENUE HISTORICAL
2Q/09: $156.0 million
3Q/09: $151.9 million
4Q/09: $151.5 million
1Q/10: $143.7 million
2Q/10: $155.3 million
SOURCE: Carddata.com

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MoneyGram Posts 2Q/10 Revenue up 2% Y/Y

MoneyGram International global payment services has reported 2Q/10 money transfer transaction volume up 7% while money transfer fee and other revenue were up 2% year over year. This is thanks in part to global agent locations having increased 13% over the prior year to 203,000. Total revenue declined 3% to $283.6 million, compared with $291.2 million in the same period last year. Total fee and other revenue declined slightly to $277.6 million, from $278.5 million in the same period last year. Total revenue in 2010 reflects investment revenue and net securities gains that were $6.7 million less than second quarter 2009. Net income for the quarter was $6.8 million, impacted by $6.0 million of stock-based compensation, $1.9 million of restructuring and reorganization costs, $1.5 million of asset impairment charges, and a $3.5 million write off of deferred financing and debt discount related to the early debt paydown.

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