TransFirst and American Finance Solutions Partner to Offer B2B Lending

NY-based ransaction processor TransFirst and merchant cash advance provider
CA-based American Finance Solutions are set provide
small- and medium-sized business access to the
working capital they need. Through a joint referral relationship,
TransFirst expands its product portfolio to include American Finance
Solutions’ Merchant Cash Advance product, helping
clients’ access capital quickly, despite tightening credit markets.
American Finance Solutions is a provider of Merchant
Cash Advances to small- and mid-sized businesses. Since 2006, American
Finance Solutions has made over 10,000 fundings, providing business
owners in all 50 states with working capital. TransFirst offers
innovative products and
services designed with financial institution, independent sales
organization, healthcare, eCommerce, government and merchant customers’
unique needs in mind.

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MC Q1

MasterCard Europe has announced its first quarter 2010 operating results for the Europe region. For the first quarter 2010, the European region reported MasterCard gross dollar volume for Europe increased 11.9%; purchase volume grew 13.1%; purchase transactions increased 14.1%, and cash transactions increased 9.1%, compared to the first quarter 2009.
From 1 January through 31 March, European cardholders made more than 1.8 billion purchase transactions with their MasterCard-branded cards, including those made online.
As of 31 March 2010, 201 million MasterCard cards (excluding Maestro and Cirrus) had been issued by MasterCard customer financial institutions across Europe, an increase of 4.7 % compared to the same quarter in 2009. European cardholders could use their MasterCard cards at 8.9 million acceptance locations in the region and at30.2 million acceptance locations worldwide.
In addition, the Maestro brand mark appeared on 303 million cards. Consumers can now make point of sale purchases with their Maestro cards at 7.1 million merchant locations throughout Europe and at 12.3 million merchant locations worldwide.

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M-PAYMENTS

New devices and services create new barriers for people with disabilities and new technology is often not designed with their needs in mind. A study conducted by the Neil Squire Society looked at four types of M-Payment systems: voice activated, web-based, text messaging, and a combination text messaging and web based style applications. The use of M-Payments in North America (United States and Canada) is expected to rise to $26.9 billion by 2013, a Compounded Annual Growth Rate (CAGR) of 98%. In addition, North America will account for 24% of the world market share for Mobile Payments by Gross Transaction Values. An important change in how consumers buy goods is underway.
The Canadian Radio Television and Telecommunications Commission (CRTC) recently recognized that the issues of people with disabilities are not being fully addressed by the wireless telecommunications industry. They have issued directives to encourage industry to address these issues, but industry has traditionally been slow to respond. The merging of financial services and telecommunications combine two services that consumers consider fundamental to how they go about their every day activities. Without a proactive approach by all stakeholders, people with disabilities will be severely marginalized. This study was funded by the Government of Canada’s Social Development Partnership Program – Disability Component.

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CARD FEES

ThinkingMoney reports on the longest closure of UK airspace since the end of World War Two cost hundreds of thousands of pounds in credit card fees have been racked up by UK cardholders abroad as they withdrew money to pay for food, water and travel expenses. Many travelers were forced to stay extra nights in hotels, paying with their card and incurring fees in the process. Of all these people, it will be those who used an MBNA credit card that will be the happiest, as the card provider has announced it will be refunding any foreign currency exchange charges and cash advance fees that it’s customer incurred while stuck abroad due to the volcanic ash cloud.
The Bank of America subsidiary is the first UK credit card provider to announce a refund policy of this nature, which stands to benefit a great many people. MBNA is the UK’s largest credit card provider with around 6 million customers and a further 1 million across Europe. The move will see potentially tens of thousands of pounds refunded to cards that were used abroad during the six days that British air space was closed.

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C$ cMoney Completes Bonfire Merger, Announces New Leadership

Having completed its merger with Bonfire Productions, C$ cMoney has named a new executive management team. With this, Lawrence Krasner is to serve as president and CEO. A veteran of the financial services industry, Krasner brings with him over 23 years’ experience to the company. In his new role, he will oversee the strategic direction of C$ cMoney, working in tandem with the Board of Directors and acting as the official spokesperson. Krasner managed the development of a multi-billion dollar capital markets integration program for a global investment bank’s private wealth management group in his previous role with CSC Consulting. He also served as senior vp and group head of an internal projects team with Lehman Brothers, managing a portfolio of global strategic initiatives.

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MOBILE PAYMENTS TO QUADRUPLE

The value of mobile payments for digital and physical
goods, money transfers and NFC transactions
will reach almost $630bn by 2014, up from $170bn this year, representing
the gross value of all purchases or the value of money being transferred.
The mobile payments report from Juniper Research revealed that growth across all market
segments was being driven by the wide adoption of Smartphones and the
increased use of apps stores. The top 3 regions for mobile payments of the Far East & China, W. Europe and
N. America will represent nearly 70% of the global mobile payment gross
transaction value by 2014. In addition SMS ticketing schemes such as
those offered by OBB Austrian Railways and Skane Traffic in Sweden were
also important developments. Shopping by mobile at stores such as Amazon
Mobile is also tipped for significant expansion over the next five years.
Vendors, retailers, merchants, content providers, mobile operators and
banks are all actively establishing new services and schemes.
However, in some areas such as NFC for example, greater collaboration is
required to establish a widely accepted business model that translates
easily into tangible services.

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GEMALTO & RZB

Gemalto announced that Raiffeisen Zentralbank Osterreich has begun deploying its innovative, end-to-end solution for customizing payment card designs securely over the Internet. Central to the program is Gemalto’s user-friendly web-based interface that lets users customize their EMV payment card with a picture of their own choice. This is the first picture card program in Austria and its commercial rollout started in early 2010. Gemalto supplied RZB with a comprehensive turnkey solution that includes the web interface, printing and personalization services. The intuitive interface enables customers to upload their favorite photograph on the bank’s website to create a unique personal card, ensuring a simple and convenient user experience. Once the picture has been uploaded, Gemalto handles image approval before the order is placed. As part of this program, Gemalto also carries out fulfilment of the card order which requires the secure handling and delivery of the card’s PIN code to the end user.

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Hypercom Posts Net Revenue Up 19.3% Y/Y

Hypercom Corporation electronic payments for 1Q/10 reported a net revenue of $98.8 million, up 19.3% compared to $82.8 million in the first quarter of 2009. First quarter 2010 net revenue declined sequentially 15.9% compared to net revenue of $117.4 million in the fourth quarter of 2009 due to normal sales seasonality. Gross profit for the three months ended March 31, 2010 increased to $34.7 million or 35.2% of net revenue from $24.2 million or 29.3% of net revenue in the first quarter of 2009. Gross margin included 37.0% product gross margin and 32.4% service gross margin, compared to 32.8% and 23.9% in the first quarter of 2009 and 34.1% and 24.7% in the fourth quarter of 2009. First quarter 2010 gross profit sequentially declined $2.1 million from $36.8 million in 4Q/09. Despite the sequential decrease in gross profit, gross margin sequentially increased from 31.3% to 35.2% as a result of a favorable product and geographic mix, contract manufacturing cost improvements and service cost improvements. Operating expenses were $31.3 million or 31.7% of net revenue, compared to $30.6 million or 37.0% of net revenue in first quarter of 2009 and $33.8 million or 28.8% of net revenue in the fourth quarter of 2009.

HYPERCOM REVENUE HISTORICAL
1Q/08: $ 71.7 million
2Q/08: $125.4 million
3Q/08: $121.1 million
4Q/08: $120.5 million
1Q/09: $ 82.8 million
2Q/09: $106.8 million
3Q/09: $101.2 million
4Q/09: $117.4 million
1Q/10: $ 98.8 million
Source: CardData (www.carddata.com)

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SAS & LOTTE.COM

Online shopping mall Lotte.com is learning more about customers and improving its targeted marketing efforts through its partnership with SAS, the leader in business analytics software and services, offers a full portfolio of customer intelligence products to customers around the world.
SAS collects Web traffic data and accurately analyzes the behavior of online customers. Using SAS, Lotte.com analyzes unique visitors, page views and additional data from the company’s various websites to understand the status of visitors and purchasers, the popularity of each category and product, plus click-through patterns, campaign results and more. The company uses results to develop more sophisticated marketing campaigns that offer shoppers what they really want, unlike conventional CRM functions that wait until customers place an order to identify buying intentions, the system analyzes what customers see and do on Lotte.com’s sites. The results supplement data about purchased products and services, and prompts Lotte.com to align service with customer demand.

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McCarran Airport Now Accepting PayPass for Parking

Las Vegas’ McCarran International Airport is now
accepting “MasterCard PayPass” contactless payments in its major parking
lots. This implementation will allow travelers to simply tap their
MasterCard PayPass contactless cards or devices at exit lanes, rather
than fumble for cash, to pay for their parking.
MasterCard PayPass implementation helps reduce airport congestion by
streamlining parking payments, thereby improving the airport experience
for travelers. MasterCard PayPass will be accepted in 64 locations,
including 31 pay stations and 33 entry/exit lanes at the airport’s four
main parking lots. Drivers simply tap their
PayPass-enabled MasterCard card or device on a specially equipped
PayPass reader. In 2009, McCarran
International Airport was the seventh-busiest airport in North America,
serving more than 40 million passengers.

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Moody’s Assigns American Express Aaa Rating

Moody’s Investors Service has assigned a definitive Aaa rating to the
senior Class A floating rate certificates
and an A2 rating to the mezzanine Class B floating rate certificates of
Series 2010-1 issued from the American Express Credit Account Master
Trust. Moody’s has also assigned a Baa2 rating to the floating rate
secured notes (Class 1) issued by the related American Express Credit
Account Secured Note Trust 2010-1. The ratings are based on the quality
of the underlying pool of credit
card receivables, the expertise of American Express Travel Related
Services Company, Inc. (long-term issuer rating of A2 with a stable
outlook, short-term rating of Prime-1) as servicer, the transaction’s
structural protections, including early amortization trigger events, and
credit enhancement levels that reflect the potential risks associated
with the floating rate payment obligations of the trust.
In rating US Credit Card ABS, performance metrics (e.g. the payment rate,
charge-off rate, purchase rate, yield) are used to calculate the median
expected loss and the Aaa proxy level, which in turn are the two inputs
used to determine a new lognormal loss distribution.

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Diebold Streamlines Alliance CU Services, Upgrades ATM Fleet

Alliance Credit Union selected Diebold to implement a complete outsourcing solution for numerous banking operations and to upgrade its ATM fleet for enhanced deposit automation to “Opteva” machines. Diebold Integrated Services outsourcing solutions will provide Alliance Credit Union self-service technology, deposit automation, currency management, risk mitigation, transaction processing with improved vendor accountability, streamlined budgeting and reduced operating costs. Diebold’s services also enable greater efficiency for the credit union, from the self-service channel to the teller line to the back office. For Alliance Credit Union, Diebold will also replace or upgrade all 12 ATMs in the credit union’s fleet, including one at each of its five California branches and four North Carolina branches, as well as three off- site ATMs.

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