NuMobile Partakes in On-Demand Webcast From Kenya

Nova Energy has released a Webcast presentation to discuss strategic meetings held in Nairobi, Kenya this week with NewMarket Technology Greenfield Partners China Crescent Enterprises and NuMobile. The Greenfield program was introduced last year to accelerate and enhance the introduction of new technology innovations into new markets, including those markets with diversified, high growth opportunities like East Africa. This year, Nova Energy launched an updated corporate strategy to pursue several business lines in the growing economy of East Africa, to include technology systems integration, mobile money remittance, and housing and health products initiatives. The Webcast is now available on Nova’s corporate website, www.novaei.com, under News and Events or directly at http://www.novaei.com/wcea_41610.html.

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Capital One Posts $510MM in Charge Offs

Capital One most recent SEC Filing shows charge-offs in its credit card
business rose in March to $510.9 million while the net charge-offs
represented 10.87% of its outstanding credit card debt. The annualized
net charge-off rate on domestic cards increased to 10.87% in March from
10.19%, or $493.8 million, in February and its net principal
charge-offs rose to $510.9 million from $493.8 million. The 30-day
delinquency rate showed some promise, having declined to 5.3% from 5.51%
a month earlier. This is part of an industry-wide record amount of
write offs, which hit a high of 10.10% in the third quarter of last
year, compared to a pre-recession rate norm of 3.87% in 2006. These
figures compare to the year-ago record March charge-off ratio of 9.33%,
which saw a sequential increase of 127 basis points(Cardflash Library
4/15/2009).

CAPITAL ONE HISTORICAL
DELINQUENCY CHARGE-OFF
Mar 09: 5.08% 9.33%
Apr 09: 5.04% 8.56%
May 09: 4.90% 9.41%
Jun 09: 4.77% 9.73%
Jul 09: 4.83% 9.83%
Aug 09: 5.09% 9.32%
Sep 09: 5.38% 9.77%
Oct 09: 5.72% 9.04%
Nov 09: 5.87% 9.60%
Dec 09: 5.78% 10.00%
Jan 10: 5.80% 10.41%
Feb 10: 5.51% 10.19%
Mar 10: 5.30% 10.87%

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MSC Rolls Out Uniq PC POS Solution

MSC presents the “Uniq PC”, an all-in-one solution consisting of a
monitor, computer and a touchpanel. The POS system’s ultra thin panel
is just 39 mm
thick and features a passive cooling system. The aluminium
housing has no openings, no moving and rotating parts, thus is
absolutely silent and keeping equipment failure rate close to zero.
An optional vandal proof technology prevents scratching on the screen
due to a built-in thick tempered glass. Its silicone protected sides
improve its shock resistance and scratchproof. Uniq PC has a waterproof
and dustproof housing IP–65 and an optional antibacterial coating,
which is washable with antibacterial detergents. Uniq PC is a flexible
system with a wide range of possibilities for connecting accessories and
peripheral devices. These can be connected either directly to the Uniq
PC or through the port replicator via discreetly hidden cables with
internal Ethernet or external Wi-Fi and Bluetooth connection.

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Capital One Names New Head of Sales for Cap One Southcoast

Capital One Financial Corporation has named Pierre
Conner Head of Sales, Trading and Research at Capital One
Southcoast. Conner, who served as Capital One Southcoast’s Lead Equity Research
Analyst since 2003, will now oversee all aspects of the sales, research
and trading functions. Conner has almost 30 years combined experience in
engineering and equity research. In his most recent role with Capital
One Southcoast, Conner was Senior Oilfield Services Analyst and Lead
Equity Analyst for the firm. Prior to joining Capital One Southcoast, he
served in a number of engineering and operations management positions
with Exxon Company USA, now ExxonMobil Corporation.
He holds a bachelor’s degree in mechanical engineering, a
master’s in petroleum engineering and master’s degree in business
administration from Tulane University. Capital One Southcoast has expanded its research
coverage and become a top 10 underwriter of U.S. energy debt and equity
transactions. Also in 2009, Capital One Southcoast recorded the most
capital market executions in its history and had its most profitable year.

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Wells Fargo Enhances Commercial Card Program

As part of its “WellsOne” Commercial Card program, Wells Fargo & Company said it has released its next-generation program administration, reporting, and reconciliation tool: the proprietary, online Commercial Card Expense Reporting (CCER) service. The single-card “WellsOne” program can be used to pay for expenses incurred by traveling employees, vehicle fuel and maintenance, and small- and large-dollar corporate purchases, including accounts payable (AP) disbursements. The WellsOne Commercial Card program helps customers by replacing a multi-card strategy comprised of separate travel and entertainment cards, fleet cards, procurement cards, and – in many cases – traditional paper-driven processes, such as administration of petty cash or purchase orders and invoices. It also includes automated international ACH processing for Canadian cardholders to settle out-of-pocket and personal expenses to Canadian bank accounts.

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OKI Data Launches Color LED Printers

OKI Data Americas’ OKI Printing Solutions brand has launched the “C610 Series” and the “C711 Series” digital
color printers designed for medium and large workgroups.
The C610 Series comes in four configurations
that deliver a compact footprint of just 17.1” x 21.5” x 13.4” and best
in class print speeds up to 32 ppm color and 34 ppm mono. With a
monthly duty cycle of 75,000 pages, it’s a perfect fit for
small-to-medium sized businesses and medium workgroups enabling output
with sharp detail and rich, dramatic color. The C711 Series is designed to fit comfortably in any office environment
with a footprint of 17.1” x 21.5” x 15.3” and comes in three
configurations. Users can control color printing on both series through a no-charge
utility called Color Access Policy Manager (CAPM) from OKI Printing
Solutions. CAPM allows for the control, monitoring and tracking of color
by defining who can print and what gets printed, making color printing
on these devices even more cost effective. Access levels can be assigned
by user name, PC/Server name, application, file name and even web site
address.

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Arroweye Solutions Recognized by USPS

Arroweye Solutions card marketing and production partner was awarded the 2010 Corporate Business Achievement Award from the U.S. Postal Service (USPS) during the National Postal Forum Awards Ceremony in Nashville, Tenn. USPS recognized Arroweye for its innovation and successful partnership with the Postal Service and its collaboration in developing a customized USPS priority envelope, continuing support of the mailing industry. Arroweye provides just-in-time, highly customized plastic gift, incentive and payment cards and carriers with an integrated combination of web-based design tools and on-demand manufacturing and personalization capabilities.

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Bank Freedom Hits $125 mm in Prepaid Transactions

Prepaid Card Holdings subsidiary Bank Freedom had processed approximately $125,000,000 in prepaid debit card transactions as of March 31, 2010 which is the end of the company’s second full year as a prepaid card debit card company. Bank Freedom offers a branded general purpose reloadable prepaid debit card for consumers at its website www.BankFredom.com. The company also offers small business owners branded reloadable prepaid expense cards for their company’s employees as well as reloadable branded payroll debit cards. Bank Freedom also co-brands private labeled card solutions for large institutions. Bank Freedom offers prepaid debit cards to America’s estimated 60 million underbanked citizens.

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MasterCard Launches MasterCard Labs, Names Overseer

MasterCard Worldwide has launched MasterCard Labs payment solutions Research & Development arm and the subsequent appointment of Garry Lyons as Group Executive, Research & Development. To oversee MasterCard Labs, effective April 30, 2010, Gary will be responsible for building payment advancements and leveraging enhanced time-to-market capabilities to drive innovations. He will focus on conceptualization, proof of concept, pilot, and support commercialization in order to deliver additional value to customers and consumers. Lyons most recently served as the Orbiscom CEO, where he has significant experience in the software and financial services industries, primarily focused on the technology and business development aspects of deploying complex large scale systems to global financial services institutions. Before joining Orbiscom, Lyons held senior technology and management positions with Cognotec, Credo and ICL.

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Payment Data Systems 2009 Revenue up 7% Y/Y

Payment Data Systems integrated electronic payments solutions provider announced revenue for the year ended December 31, 2009 increased 7% to $3,218,674 from $3,001,487 in 2008. The increase of $217,187 was primarily due to increased card-based processing revenue from increased transaction volume. Operating loss improved by 46% to $941,670 for 2009 from $1,690,300 in 2008. Net loss for the year ended December 31, 2009 decreased to $803,526 from $944,617 in 2008, but the net loss for 2009 was $267,326 after adding back noncash stock-based compensation expenses of $536,200. Additional disclosures show Payment Data Systems processed 29% more credit card transactions in 2009 as compared to 2008; 11% more credit card dollar volume in 2009 as compared to 2008; total assets increased 91% from $607,991 at December 31, 2008 to $1,162,869 at December 31, 2009; cash increased 447% from $103,428 at December 31, 2008 to $565,597 at December 31, 2009 and net income was $22,565 for Q3 of 2009 and a net loss of $53,712 for Q4 of 2009.

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GlobalCollect Announces Investment by Welsh, Carson, Anderson & Stowe

E-payment provider GlobalCollect announced that private equity investment firm Welsh, Carson, Anderson& Stowe
has signed an agreement to acquire the
majority share in GlobalCollect. GlobalCollect’s senior management continues to hold the remaining
stakes in the firm and will remain in charge of the operational
business. GlobalCollect is the world’s premier Payment Service Provider of local
e-payment solutions for international Customer Not-Present (CNP)
channels such as internet, mail and telephone orders, and specialized in
a wide range of industries such as travel, ticketing,
telecommunications, retail, publishing, portals, online gaming, and
digital content. GlobalCollect is a full service
partner consulting clients on how to increase transaction volumes,
expand distribution channels, and reduce costs by streamlining back
office processes through a single-interface online payment platform.
The terms of the transaction were not disclosed.

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Commerce Bancshares Announces 1Q/09 Net Income of $44mm

Commerce Bancshares announced earnings of $.53 per share for the three months ended March 31, 2010 compared to $.38 per share in the first quarter of 2009, or an increase of 39.5%. Net income for the first quarter amounted to $44.2 million compared to $30.8 million in the same quarter last year while the return on average assets totaled 1.00%, the return on average equity was 9.3% and the efficiency ratio was 60.5%. Total assets at March 31, 2010 were $18.0 billion, total loans were $10.4 billion, and total deposits were $14.0 billion. Commerce Bancshares currently operates in over 370 locations in Missouri, Illinois, Kansas, Oklahoma and Colorado. The Company also has operating subsidiaries involved in mortgage banking, credit related insurance, and private equity activities.

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