Microchip Technology Incorporated microcontroller, analog and Flash-IP solutions has consummated the sale of certain non-core assets from its Silicon Storage Technology (SST) subsidiary to Greenliant Systems. The product lines sold included NAND Drives, NAND controllers, Smart Card ICs, Combo Memory, Concurrent SuperFlash, Small-Sector Flash and many-time Programmable Flash memories. The sale included inventory, equipment, intellectual property, and certain other assets and liabilities associated with the product lines. Approximately 100 employees (18% of SSTâs workforce) transferred to Greenliant as part of this transaction. SST also agreed to provide certain transition services to Greenliant for up to 90 days.Details
Merchant Warehouse merchant accounts and credit
card processing solution provider will be showcasing the companyâs innovative
“Pay @ The Table” with “BINsmart” solution at the annual National Restaurant
Association Show 2010 in Chicago.
The “BINsmart” solution is a cost-saving technology that
helps small and mid-sized merchants maximize the value of every sale by
reducing their overall payment processing costs. BINsmart helps
merchants process transactions at the lowest possible cost by
automatically identifying the card type being used in the transaction,
and prompting the merchant for additional information or for a PIN
number for debit cards. Merchant Warehouse recently
integrated this technology with “Pay @ the Table” terminals, secure
wireless payment devices that bring payment to the customer in a fast,
efficient and secure manner, allowing customers to pay with credit and
debit cards at their table. Restaurant merchants can improve both the
customer experience and their operational costs, by turning tables more
quickly and creating more waitstaff efficiencies.
A new report identifies weaknesses in vendor-built cash management solutions and makes
recommendations as to how these solutions can be enhanced to better meet
the needs of large financial institutions and their increasingly
demanding customers. Based on the results of Aite Groupâs
online survey of 16 large U.S. based cash management institutions
as well as in-person and telephone
interviews with leading vendors and industry thought leaders, the report
shows that large banks depend heavily on vendor-built solutions, and
that approximately one-quarter of them are likely to invest in cash
management/treasury technologies over the next two years. Vendors must
further enhance solution reporting capabilities, ease of use, and
international functionality to win this business.
Singapore Exchange (SGX) post-trade executive, Terry Gibson, has been appointed global head of strategy for Investment Services with Fiserv financial services technology. In his new role, Gibson will lead the international business strategy and product development of the Fiserv institutional and managed account technology portfolio. A 20 year industry veteran, Gibson was most recently senior VP and head of Product Management at SGX, where he drove the growth of the exchangeâs post-trade business and built its reputation as one of Asia-Pacificâs most innovative clearing and settlement venues. He led the development of several post-trade infrastructure projects, including the SGX Prime pre-settlement matching service powered by the Fiserv “TradeFlow” solution. Gibsonâs extensive securities background also includes multiple director-level roles at the Depository Trust & Clearing Corporation (DTCC), where he grew the credit and equity derivative STP product business and led the global expansion of the Deriv/SERV platform.Details
BayPort Credit Union is teaming with Intuit Financial Services to offer “FinanceWorks” financial management solutions. The new “FinanceWorks” solution provides consumers a way to budget, gain control over their spending and save more. Powered by Quicken, “FinanceWorks” helps consumers manage their information and accounts across more than 16,000 financial institutions and credit card sites, ensures bills are paid on time regardless of the method they use to pay them, see where their money is going, and receive a variety of alerts about their financial status via e-mail. All this through one secure log-in to BayPort Credit Unionâs online banking website. BayPort has an ongoing commitment to seek out products and services that will better enable its members to most effectively manage their financial resources.Details
Mobile experience platform provider Mocapay has announced a strategic
partnership with CO-based Full Cycle high-end bicycle retailer. Full
Cycle will work with Mocapay to complement its marketing program by
mobile-enabling its existing gift card program. Mocapayâs embedded
marketing engine will be used to deliver targeted mobile offers to
customers. Mobile campaigns can be directed to all customers throughout
Colorado or targeted to specific store locations. Full Cycle mobile account holders will be able
to conduct mobile transactions at the POS, access their
account balance and transaction history, and reload their Full Cycle
account, all from their mobile phone. Using the customized
Mocapay Dashboard, Full Cycle can monitor the effectiveness of
individual campaigns in real time. Mocapayâs SaaS technology also enables Full
Cycle to integrate secure mobile payments into its POS. Mocapay mobile
payment secures mobile transactions
through multifactor authentication to ensure security measures are not degraded
in the mobile form factor.
DebitFacts.org online educational resource focused exclusively on debit, kicks off the âAre You Debit Smart?â video contest, inviting US consumers from now until July 4 to share success stories related to using a debit card as a preferred form of payment. Contestants could win up to $5,000 on a prepaid Discover Card and a money-management session with a financial counselor. Designed to promote the many benefits of using debit, the contest encourages consumers to highlight why they use their debit card, what they buy with debit, when they use it and much more. Entries will be judged by a panel of experts from the financial and creative fields, for which a second-place prize of $2,500 and third-place prize of $1,000 will be awarded via prepaid Discover Cards. Each of the top three prize winners will also receive personal consultation time with Judy Lawrence, financial counselor and coach, author of âThe Budget Kitâ and founder of www.moneytracker.com. Additional details can be found at http://www.debitfacts.org/are-you-debit-smart/.Details
Acquisitions are heating up in the merchant-acquiring business,
according to management consulting firm The Strawhecker Group’s research
and their recent client engagements.The Strawhecker Group (TSG) says to
look at the payments industry. Buyers are seeking acquisitions or joint
ventures with properties ranging in value from $1 million to $75
million. The target acquisitions include enterprise, static merchant
portfolios, and portfolios with sales engines or additional payments
technology capabilities. Buyers are primarily interested in portfolios
on TSYS, First Data, and Global, as well as portfolios focused on
strategic verticals. TSG regularly releases data to help buyers, sellers
and capital investors get accurate and reliable valuations. In April,
TSG completed a review of 72 transactions that took place from 2000 to
2010 in the merchant acquiring space, which included analysis of
enterprise and merchant portfolio net revenue multiples. The firm has
prepared nearly 40 valuation assessments since June 2006, with
individual values ranging up to $150 million. In aggregate, these
analyses represent more than $1.7 billion in value.
Closed loop gift card provider Givex announced that its gift card
programs have been certified with POSqx by CA-based SumGuys. POSqx
was specifically developed for the Restaurant and Food Service industry.
Unlike other POS systems, POSqx is a cloud-based POS solution,
delivering services and applications to a terminal as needed. Businesses
gain access to comprehensive infrastructure for processing while
avoiding large capital expenditures. The Givex integration enables POSqx
users to start selling and redeeming gift cards, gaining access to a
powerful new revenue stream and technology for customer acquisition.
Givex provides a broad range of profit enhancing processes that
seamlessly integrate gift cards, loyalty engines, e-couponing and
targeted email campaigns. This innovation is also backed up by years of
experience and the relentless pursuit of excellence that defines our
technology and client support. Sum Guys Inc. is an innovations company
in the Point-Of-Sale (POS) and payment processing solutions industry for
retail and hospitality.
Gemalto, Credit Mutuel-CIC and NRJ Mobile have joined forces to offer contactless mobile payment services as part of the “Nice, mobile contactless city ” project. This initiative is the first commercial launch of contactless mobile services in Europe. With the support of the French government, it is being developed in conjunction with mobile operators, banks, transport operators and the retail sector. It will allow people in Nice to use their NFC-enabled mobile phones in total security to pay at restaurants, supermarkets and local stores, as well as in the city’s transport networks. Information services will also be available at the museums and university campus. This project follows on from the “Payez Mobile” pilot programs successfully rolled out in Strasbourg and Caen, with a new commercial dimension. In Nice, users take out an NFC mobile pack at their operator’s points of sale, and activate the NFC payment service at their bank branch office. For Credit Mutuel-CIC customers, access to this service is even simpler, since they will be able to find the Credit Mutuel Mobile or CIC Mobile* offerings in their Credit Mutuel or CIC branch office and will therefore activate the NFC functionality all at the same time.Details
Zealous Interactive announced that The
Collectible Exchange will become a fully-operating business
that after more than a year of testing the online store concept.
The store will be run by Randy Kepper who has led the testing for the project.
Nevada-based Zealous conducts its existing business
through its wholly owned subsidiaries; Zealous Interactive, Inc., Health
and Wellness Partners, Inc., and Zealous Capital Group, Inc.
Citibank Credit Cards and Cobrand Cards customers can now exclusively enjoy the hottest offers in over 30 restaurants at SOHO in Central. At a glance, the “the hottest year-round privileges” include up to 50% off
dining privileges,buy-three-get-one-free mega lunch buffet,complimentary glass of wine
and complimentary tapas entree. Citi has approximately 200 million customer accounts and does business in more than 140 countries.