FNDS3000 Posts 1,955% Y/Y Revenue Increase

FNDS3000 transaction processing announced its fiscal 2Q/10 revenues were
$89,414, an increase of $85,063 (or 1,955%) from $4,351 for the second
quarter of fiscal 2009 thanks to its newly-introduced prepaid card
programs. The net loss for the quarter was $(1,106,001) or ($0.02) per
share, a decrease of $894,704 (or 45%) from $(2,000,705) or ($0.08) per
share for the same period in the prior year. More detailed information
on the financial results of the Company is available within FNDS3000
Corp’s Form 10-Q that was filed with the Securities and Exchange
Commission on April 14, 2010. FNDS3000 Corp focuses on the development
and implementation of a variety of prepaid card programs outside the
United States, including services to individuals who lack access to
conventional banking services.

Details

Central National Launches Student Financial Aid Card

Students at North Central Missouri College received their financial aid
refund faster with the introduction of the “Pirate Gold” debit card
issued by OK-based Central National Bank and processed by its subsidiary
Interactive Transaction Services. The cards were first issued during
the spring semester of 2010, and were
loaded by CNB with over $2 million in financial aid refunds. The cards
seamlessly
integrate with the campus ID cards already being utilized by the college
as a part of the Heartland Payment Systems'”OneCard”
platform. It was a partnership between CNB and Heartland that allowed for
the financial aid distribution product. Students do not
need a checking account to carry the CNB-issued card and each
card carries FDIC insurance at the individual level. Central’s
proprietary software also offers a variety of functionality such as SMS
mobile and email alerts, bill pay, and internet banking. CNB also drives
an on-campus ATM where students can withdraw their funds for no fee.
Future releases of the card may also include an international money
transfer capability. The prepaid debit card issued by CNB also
satisfies Title IV, Regulation
E and PCI requirements.

Details

Gilbarco POS Exec to Speak at NPECA

Andrew Robinson, director of point of sale marketing at Gilbarco Veeder-Root, will speak at the 73rd annual conference of the National Petroleum Energy Credit Association (NPECA) April 20 at the InterContinental New Orleans Hotel in New Orleans. Robinson will lead the 10:00 a.m. POS Technology session that will outline current point of sale technology trends, connectivity opportunities and fraud reduction practices. The session is recommended for professionals who are responsible for point of sale strategy, development and implementation, as well as electronic payment transaction processing.

Details

California POS Teams With Lan Services

Turnkey POS system provider California POS has entered into an partnership with Lan Services to enhance the ecommerce-enabled POS systems market and deliver benefits in favor of online retailers. With LAN Services’ vast experience in developing RMS integrated online shopping cart solutions, this partnership will come as major sell booster for CA-POS customers using Microsoft Retail Management System/POS2009. LAN Services 24SevenCart is 100% customizable and CA-POS customers can now en-cash this advantage to run flexible and custom-made online shopping carts to boost their overall sales. The online retail segment has observed a significant growth as an increasing number of shoppers are considering the
web-shopping option to be viable enough in terms of user-friendliness and quality of services. It is expected that as more retailers embrace the online selling option, both LAN Services and CA-POS will make inroads towards capitalizing on growth segment.

Details

Acacia Enters Into Patent Settlement

Acacia Research’s
Financial Systems Innovation LLC subsidiary has entered into a
settlement agreement covering a patent that applies to credit card fraud
protection technology with Retail Ventures.
The expired patent asserted in this litigation generally relates to a
computerized system for protecting retailers and consumers engaged in
credit card, check card, and debit transactions. The system includes an
electronic card reader, and the generation and use of a transaction
number, which specifically identifies each transaction processed within
the system. Acacia Research’s subsidiaries partner with inventors and patent owners,
license the patents to corporate users.

Details

BofA Global Credit Cards Posts 9% Revenue Decline

Bank of America global credit cards posted $952 million in 1Q/10 compared to a $194 million loss in the previous quarter and a $1.9 billion loss in 1Q/09. 1Q/10 global cards revenues declined 9% to $6.8 billion due to lower net interest income from the decline in average loans and lower fee income resulting from the implementation of the CARD Act. Provision for credit losses decreased $4.7 billion to $3.5 billion from a year ago as lower delinquencies and lower expected losses from the improved economic outlook drove reserve reductions during the quarter. For complete details on Bank of America’s 1Q/10 performance, visit CardData (www.carddata.com).

BOFA CREDIT CARD NET INCOME
(Global Cards; Excludes Business Cards)
3Q/08: (-$167 million)
4Q/08: (-$9 million)
1Q/09: (-$1874 million)
2Q/09: (-$1617 million)
3Q/09: (-$1036 million)
4Q/09: (-$194 million)
1Q/10: $952 million
Source: CardData (www.carddata.com)

Details

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.

Details

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%

Details

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.

Details

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.

Details

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.

Details

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.

Details