Single-source provider of electronic payment processing service RBS WorldPay announced that Gilbarco Veeder-Root has completed certification of its point of sale application, the “Passport POS”, on the RBS WorldPay payment network. Gilbarco Veeder-Root provides fueling and retail management systems for convenience stores, hypermarkets and service stations; and is the industry’s only total solution provider with fuel and retail systems supported by the same service network. With a year over year growth rate in excess of 34%, RBS WorldPay is among the fastest growing payment processors in the United States. Clients take advantage of RBS WorldPay’s built for purpose petroleum interface, which leads the industry in value added functionality including Automatic Reconciliation. Merchants also appreciate working with a single-source provider that is dedicated to providing superior customer service.Details
Visa Canada has launched its “Financial Soccer” FIFA World Cup inspired educational video game to teach the fundamentals of responsible spending, the banking system, budgeting and saving. Reinforcing Visa’s global commitment to financial literacy, Financial Soccer can be played for free online with multiple-choice questions that test the player’s knowledge of financial management skills as they advance down field and score goals on their opponents. Combining the structure and rules of soccer with financial education questions of varying difficulty, the Canadian launch of Financial Soccer marks the one-month countdown to the 2010 FIFA World Cup in South Africa. Available in both English and French, “Financial Soccer” is the latest component of Visa commitment to financial literacy education and skills development.Details
Citibank Taiwan and HAPPY GO, the largest loyalty card in
Taiwan, have joined forces to launch the Citi-HAPPY GO Co-Brand Card, a
credit card aimed at providing cardholders with HAPPY GO bonus points
and greater shopping satisfaction. Citi-HAPPY GO Co-Brand Card is a credit card that offers HAPPY GO bonus
points when cardholders shop at more than 30 million shops both locally
and globally. Cardholders simply accumulate the bonus points and redeem
them for a wide range of rewards. In addition, the bonus points triple
when cardholders shop at FE21′, Pacific Sogo, A-mart, The Mall and
City’super. For online shopping, GoHappy online store gives away 10 additional Happy
Go points with each NT$1,000 purchase made with the Citi-HAPPY GO Card,
and 20 additional points when the purchase exceeds NT$2,000. Each
NT$1,000 purchase earns the cardholder 10 points. This allows
cardholders to shop and collect points wherever they shop, and enjoy
instant discounts in shopping. HAPPY GO has more than 7 million cardholders and an 80% active
card usage. Two billion bonus points have been distributed and 1.5
billion points redeemed in 2009, an 18% growth rate.
Retailer Loblaw reported sales for the first quarter increased by 3.1% to $6,926 million compared
to $6,718 million in the first quarter of 2009. Gross profit increased by $106 million to $1,720 million in the first
quarter of 2010 compared to $1,614 million in 2009. Gross profit as a
percentage of sales was 24.8% in the first quarter of 2010 compared to
24.0% in 2009. The increase in gross profit and gross profit as a
percentage of sales was primarily attributable to buying synergies,
disciplined vendor management, a stronger Canadian dollar, improved
inventory management and control label profitability.
Payment technology provider FIS has signed a comprehensive
agreement with OH-based First Federal Bank (FFB) for FISâ Integrated Banking
Services (IBS) core banking platform. FISâ IBS is a highly flexible and open core banking solution that
accommodates financial institutions interested in integrating innovative
technology with minimal risk and disruption to their business operations
and customers. IBS is recognized for its robust functionality,
scalability and strong integration capabilities.
Through this agreement, FIS will
also deliver a host of integrated banking and payment solutions to the
bank including ATM/EFT processing, bill payment, CRM, decision support
and analytics, eBanking, image, mortgage loan origination, mobile
banking and Web hosting technology. First Federal Bank is a wholly-owned banking subsidiary of First
Defiance Financial Corp., with assets of $2.1 billion.
Global Payments Asia-Pacific has launched the China UnionPay card acceptance service in Brunei, the Maldives, the Philippines, Singapore and Sri Lanka. This service allows mainland Chinese tourists to pay for goods and services with their CUP cards at merchants served by Global Payments. The extension of the CUP service to those five markets marks another major milestone for Global Payments’ CUP card acceptance program, which was started 6 years ago in Hong Kong and has since grown successfully into Macau, Malaysia and Taiwan. With more than 2.1 billion CUP cards in circulation and the rising number of Mainland Chinese travelling around Asia, the new service empowers Global Payments merchants in Brunei, the Maldives, the Philippines, Singapore, and Sri Lanka to capture the rising spending trends of the mainland Chinese visitors, who presently pay mostly with cash.Details
eBay Inc. and Young Bae Ku, the founder of Gmarket,
Korea’s leading e-commerce company acquired by eBay in 2009, today
announced a joint venture agreement to expand Gmarket’s existing online
marketplaces in Japan and Singapore. The agreement will strengthen
eBay’s presence in Japan and Singapore – where the e-commerce markets
are expected to grow by 30% and 13% respectively between 2009 and
2012-and provide a foundation for longer term expansion of Gmarket into
other Asian markets. eBay will have a 49% stake in the joint venture, and an entity owned by
Mr. Ku will have a 51% stake. eBay will contribute assets from Gmarket’s
existing Japanese and Singaporean businesses to the joint venture, and
eBay and Mr. Ku will make financial contributions of approximately US$10
million each to the joint venture. eBay will also license Gmarket’s
technology and brand on behalf of the joint venture, while Mr. Ku will
provide local management expertise. In June 2009, eBay Inc. acquired Gmarket for a total cash purchase price
of approximately $1.2 billion. Gmarket is Korea’s leading online
marketplace, and is a key component of eBay’s Marketplaces segment. The
acquisition strengthened eBay’s e-commerce business in Korea and
provided a platform for the company’s expansion throughout Asia.
Discover has been addded to the NAFCU Services Corporation “Preferred Partner Program” for national payment network solutions for credit unions. Through its national payment network solutions, Discover will provide NAFCU members with credit, debit and prepaid card programs built to attract and retain members through expanded, enhanced and competitive solutions.
After having undergone extensive evaluation from the NAFCU Services Advisory Committee and Board of Directors, Discover has been awarded the go-ahead to meet the needs of credit union issuers. With this, NAFCU member credit unions receive special benefits on Discover’s payment solutions.
The National Retail Federation is urging Vermont to sign legislation that would make it easier for
merchants to give a discount to customers who pay by cash, check or
debit card rather than credit card. In a voice vote held on Tuesday, the state Senate unanimously agreed to
amendments made in the House. The bill initially passed the Senate 30-0
on March 31 and cleared the House 139-0 on April 29 and now heads to
Douglas. If signed into law, the bill would allow Vermont retailers to set a
minimum credit card purchase of up to $10 without interference from Visa
and MasterCard, which currently bar minimum purchase amounts in their
rules. Retailers have long wanted freedom to set minimum purchase
amounts because swipe fees can exceed a merchantâs profit on small
purchases, Duncan said. Card companies would also be prohibited from dictating how merchants
price items or blocking a merchant from giving a discount for cash,
checks, debit cards or credit cards with lower-than-usual swipe fees.
Cash and checks are not subject to swipe fees, and PIN debit cards are
generally cheaper for merchants than credit cards or signature debit
because they carry lower fees. Visa and MasterCard also could not force
a retailer to accept cards at all store locations if the retailer only
wanted to accept them at some locations.
Radiant Systems announced total revenues of $79.5 million for 1Q/10, exceeding Company guidance to represent an 18% increase over the $67.6 million in revenues posted in 1Q/09.
Recurring revenues were $35.9 million, an increase of 15% over the same period in 2009, to represent 45% of total revenues. Adjusted net income (non-GAAP) for the period was $5.8 million, or $0.17 per diluted share. The results represent an increase of $1.2 million, or $0.03 per diluted share, compared to the same period in 2009 and exclude amortization of acquisition-related intangible assets, employee stock compensation expense and other charges and income. Net income for the period was $2.6 million, or $0.07 per diluted share, an increase of $1.6 million, or $0.04 per diluted share, compared to the same period in 2009.
Alaska Option master debit switches has licensed the S1 Payments solutions for its EFT switch and processing platform. Alaska Option selected the open-systems architecture from S1 to replace its current system which has been in place since 1998. S1’s Payments solutions for ATM and retail point-of-sale driving, card management, and merchant -acquiring are used by more than 325 customers in over 50 countries worldwide. With the latest success at Alaska Option, S1 will be replacing another legacy payments system with the flexible, open-systems architecture of its S1 Payments solution.Details
Payment outsourcer TSYS announced that Philip W. Tomlinson, chairman and
chief executive officer, and other TSYS executives will discuss the
companyâs operations and business strategy at the upcoming TSYS Analyst
Day on May 17, 2010. A live Webcast of the presentation will be available at www.tsys.com.