TNS’ Q4 Revenue Sees 69.6% Boost

Data communication provider TNS has released its Q4 results.
Total revenue for the fourth quarter of 2009 increased 69.6% to $137.5
million from fourth quarter 2008 revenue of $81.1 million.
Fourth quarter 2009 GAAP net loss was $5.7 million, or $(0.21) per
share, versus fourth quarter 2008 GAAP net loss of $1.0 million, or
$(0.04) per share. Included in the GAAP net loss for the fourth quarter 2009 results are
the following items related to the refinancing of the May 2009 Credit
Facility in November 2009: The write off of $21.9 million, or ($0.52)
per share, of deferred financing fees and original issue discount; and
The write off of $3.3 million, or ($0.07) per share, of term loan call
premium. Earnings before interest, taxes, depreciation, and amortization (EBITDA)
before stock compensation expense for the fourth quarter of 2009
increased 86.8% to $39.3 million versus $21.0 million for the fourth
quarter of 2008. Adjusted earnings increased 80.4% to $18.4 million, or $0.69 per share,
for the fourth quarter of 2009 compared to adjusted earnings of $10.2
million, or $0.40 per share, for the fourth quarter of 2008.

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CardinalCommerce Praises Visa, MC& JCB Programs

CardinalCommerce enabler of payment brands is commending Visa, MasterCard and JCB for developing and introducing to market the “Verified by Visa”, “MasterCard
SecureCode” and “J/Secure” authenticated payment programs. With the rising threat of online fraud and identity theft, CardinalCommerce recognizes Visa,
MasterCard, and JCB are taking a proactive approach to the matter. In doing so , the organizations have taken the lead and put their reputations at stake to
help make electronic commerce safer. Visa, MasterCard, and JCB, furthermore, have built the foundation and infrastructure for online and mobile authentication
with 3-D Secure-based protocols recognizing authentication as being technology-neutral, rather than dependent on singular end-user interface technology-centric
solutions.

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Citi Set to Launch New mPayment Initiatives

Citi has disclosed mobile solutions are soon to be as important as the ATM. In conjunction, using the device for banking is at the same trust level at which ATMs were when they were first introduced. According to Citi, the growing unarticulated consumer need for mobile and consumer adoption will be what drives innovation for mpayment and mbanking. Moreover, what gives mbanking a leg up is location. Citi global financial services company has approximately 200 million customer accounts and does business in more than 140 countries through Citicorp and Citi Holdings.

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Heartland Payment Systems Intros PlusOne Payroll

Heartland Payment Systems payments processor has introduced its “PlusOne Payroll” comprehensive payroll management system. Streamlining all aspects of the payroll process to enable time and cost savings, “PlusOne Payroll” platform allows companies to process payroll on a large scale and provide customizable solutions for businesses of all sizes. “PlusOne Payroll” is the first in the industry to utilize Oracle technology for faster processing and continuous updates to ensure businesses remain compliant with payroll, tax and human resources regulations. It features web-hosted access to securely access all payroll data from virtually anywhere with SSL-encryption protection and easy-to-use reporting for better business analysis.

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ToolsGroup Launches POS Demand Sensing Collaboration Solution

ToolsGroup demand-driven inventory optimization and supply chain planning (SCP) solutions have introduced its “POS Demand Sensing,” “Demand Collaboration Hub,”
and its “SO99+ 7.0” inventory optimization and SCP platform. “SO99+ 7.0” also provides an end-to-end modeling platform helpful for handling “long tail”
inventory. The new POS Demand Sensing is a natural extension of ToolsGroup’s Vendor Demand Sensing product. It translates POS demand and retailer status into a
time-phased demand signal for each SKU-Location in the multi-echelon network. ToolsGroup’s existing Vendor Demand Sensing product includes capabilities for bias
monitoring, real-time forecasting, and advanced forecast consumption logic.

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US Credit Card Defaults Surge 11%

Fitch’s prime credit card chargeoff index jumped 112 basis points (11%) to 11.37% throughout the January collection period. This pushes the index to its highest level since September 2009’s record 11.52% and 54% above year earlier levels. However, 60+ day delinquencies fell for the second straight month, down three bps to 4.16%. This is off its 4.54% record high set in December and is essentially flat versus year earlier levels. Meanwhile the 30-day rate declined six bps to 5.38% and is 5% below February 2009 rates. Fitch expects ratings on senior credit card ABS tranches to remain stable given available credit enhancement, loss coverage multiples, and structural protections afforded investors. Excess spread dropped 24% to 6.3% from last month as a result of the spike in the chargeoff rate, only experienced a 30 bp drop to 7.25% on a three-month basis.

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DOLLAR FINANCIAL

Underbanked financial services provider Dollar Financial has opened its 300th location in Canterbury. The new store will offer the Company’s full range of consumer financial products and services, including check cashing, short term consumer loans, pawn broking services, foreign exchange, gold purchase, Western Union money transfer and other ancillary products and services. As the town of Canterbury is also a popular tourist destination, the Company expects to benefit from additional customer volume associated with its foreign currency exchange service. Dollar Financial customers are typically service sector individuals who require basic financial services but, for reasons of convenience and accessibility, purchase some or all of their financial services from the Company rather than from banks and other financial institutions. To meet the needs of these customers, the Company provides a range of consumer financial products and services primarily consisting of check cashing, short-term consumer loans, automobile loans and services, pawn lending, Western Union money order and money transfer products, currency exchange, gold buying, reloadable VISA(R) and MasterCard(R) branded debit cards, electronic tax filing, and bill payment services.

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Contactless and Mobile Payments Expanding Use

The Smart Card 3rd Annual Payment Summit presenters reported contactless
payment is now the de facto standard for U.S. transit fare collection
systems. With this, the method will likely become a principal market driver for the
expansion of bank-issued contactless cards. Mobile payments
is regarded as another important driver that will continue expanding the
contactless market. Retailers are motivated by the other mobile
applications that complement mobile payment such as coupons, loyalty
programs and location-based services that drive people into their locations.

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OCEAN 2010-1

Moody’s Investors Service has assigned a provisional rating of (P)Aaa to Ocean 2010-1 Beneficial Interests backed by credit card receivables valued at approximately JPY 10 billion.
The rating addresses the expected loss posed to investors by the legal
final maturity date. The underlying assets comprise credit card receivable. Having factored in receivables’ attributes, historical data on the seller’s entire pool, ongoing performance data on existing securitization pools, and credit card industry trends, Moody’s estimates the annual default rate at 12% to 14%; the rating agency also believes that the monthly principal payment rate will range from 5% to 7%, and the yield from 16% to 18%. These parameters are estimated based on the transaction’s definition, which may differ from the seller’s definition. The structure allows for timely payments of
dividends (in scheduled amounts, on scheduled payment dates), and ultimate payment of principal by the legal final maturity date. The seller, as initial Servicer, has substantial experience in the credit card industry. Moody’s has examined the seller’s operations and considers the company sufficiently capable of servicing the underlying pool. If a servicer replacement event were to occur, the Asset Trustee would be able to dismiss the Servicer. A back-up servicer will be appointed at closing.
The principal methodology used in rating the transaction was “Moody’s
Approach To Rating Credit Card Receivables-Backed Securities,” published in April 2007

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nuBridges Launches PCI-DSS Complaint Tokenization Program

nuBridges has introduced its partner program for software application vendors to leverage tokenization to support their customers in reducing scope for PCI DSS compliance and audits. Helping eliminate points of risk related to the protection of Personally Identifiable Information (PII), the no-cost nuBridges “Tokenization Partner Program” helps third-party vendors integrate and test their solutions with its “Protect Token Manager” and “Format Preserving Tokenization” solutions. Ultimately, its allows software application vendors to help customers gain an extra layer of data security; reduce PCI audit scope and the initial and annual costs of PCI DSS compliance and audits; and to expand beyond payment card number protection to protect any type of sensitive and confidential information. The “Tokenization Partner Program” offers users no cost qualified third-party testing; education and guidance on tokenization; and assistance in enabling third-party applications to utilize tokens in place of credit card numbers.

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CASH MANAGEMENT

The cash management business has penetrated into 72% of bank deposits,
but only 26% of corporate clients use cash management products, across
China. This indicates the penetration rate is higher among large
companies than among SMEs. SMEs account for more than 60% of China ‘s
GDP, and their annual growth rate has reached 46%. The overseas accounts
receivable of SMEs have exceeded US$70 billion, and are growing by US$10
billion every year. This indicates there is a substantial and growing
need from SMEs for mature cash management services, according to Celent
Research, and many Chinese companies are subsequently facing cash flow
problems from the impact of the financial crisis. These findings were
published in Celent’s “Cash Management in China: High Growth Market,
Penetration of SMEs Still Low.”

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