Contactless specialist On Track Innovations reports that revenues were flat for the first quarter at $9.3 million. The non-GAAP net loss for the quarter was $2.6 million, a 46% decrease compared to 1Q/08. The GAAP net loss for the first quarter was $3.8 million, a 44% decrease, compared to the year ago quarter. The Company says it is focusing on reducing operating expenses, specifically in R&D and G&A while boosting marketing and sales. OTI’s target is to further reduce operating expenses on a non-GAAP basis to reach $25 million annually. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking, loyalty programs and secure campuses. For complete details on OTI’s latest performance visit CardData ([www.carddata.com](http://www.carddata.com)).Details
Merchant processor BluePay has launched “BluePay Go!” and “BluePay HQ”.
“BluePay Go!” is designed for merchants who need service now and
provides a complete lineup of
credit card processing solutions to meet the complex and changing needs
of a growing business. “BluePay Go!”
helps businesses get started accepting credit cards, debit cards, and
ACH payments and assists companies in
streamlining their payment process for easier transactions.
“BluePay HQ” is a merchant processing solution
specifically designed for larger businesses that are in need of
customized, integrated payment processing solutions. They offer
merchants options to consolidate vendors and reduce costs, all while
increasing customer service and quality results. “BluePay HQ” can
provide merchants with a reliable, safe, and efficient transaction
process at a low cost.
Global Payments Asia-Pacific Limited has launched the “China UnionPay”
card acceptance service to merchants
in Malaysia. This service allows the merchants to accept electronic card
payments from CUP cardholders at their stores. The launch marks an
extension of Global Payments’ CUP card acceptance programme, which
previously had been offered in Hong Kong and Macau. There are 1.8
billion CUP cards in circulation and the rising
number of Chinese tourists visiting Malaysia, this new service empowers
Malaysian merchants to capture the fast growing spends of these Chinese
visitors, who today pay mostly with cash. Global Payments Asia-Pacific
serving merchants in 11 countries and territories across Asia, is the
largest pan- Asian card processing company in the region.
Users of nFinanSe’s prepaid cards will be able to download coupons to their mobile phones this summer thanks to a potential partnership with OR-based RocketBux. The technology will deliver scannable bar code coupons to âopted-inâ nFinanSe cardholders who simply swipe their card at a retailerâs POS. Participating merchants can also elect to send targeted coupons directly to the phones of customers that carry the nFinanSe card. The RocketBux white-label platform is the only solution in North America that effectively links all types of payment and loyalty cards to the 240 million U.S. mobile phones without having to download a special application to the phone. Virtually every mobile phone sold in the last four years comes equipped with a browser to open a link to a coupon. After a cardholder has opted in to receive coupons and potentially indicated offer preferences, they will receive a text message with a link to a branded, barcode coupon. To redeem the offer, the cardholder would visit the location and at checkout, simply open the link and present his cell phone to have the barcode scanned. RocketBux technology delivers a 1D barcode that is scannable using industry standard, retail barcode scanners.Details
Fitch Ratings’ “SMARTView” has placed 194 classes of U.S. credit card
ABS transactions “Under Analysis”. The 29 classes of
U.S. credit card ABS transactions issued by 1st Financial Bank have
extended their ‘Under Analysis’ status from the previous month, awaiting
additional analysis or information. Fitch will be issuing a rating
action within 30 days. Of the 619 classes of Fitch rated U.S. Credit
Card ABS transactions
totaling $ 299.4 billion, 396 were designated with a SMARTView date of
May 26, 2009, indicating that no in-depth review is necessary.
Payment service provider GlobalCollect has partnered with Sony Music to
offer consumers digital downloads. GlobalCollect’s
single-interface online payment platform, “WebCollect”, offers fans a
broad array of payment products form credit cards to alternative payment
methods to purchase MP3 music downloads. With the help of a viral
widget, a software embedded into
online platforms and social networking sites, Sony Music is driving
traffic directly to the website of an artist to allow fans to share
information and to download the artist’s repertoire. GlobalCollect is a
partner consulting clients on how to increase transaction volumes,
expand distribution channels, and reduce costs by streamlining back
office processes. At a later stage, the
e-commerce offer will be expanded to include artist merchandise, concert
tickets, and more.
One of New Zealand’s largest financial
institutions, BNZ will deploy NCR
SelfServ ATMs equipped with combined dual-roll two-sided thermal
printing technology. 2ST is patented NCR technology that enables
businesses to print on both
sides of a thermal paper receipt, reducing paper consumption by as much
as 45 percent. With the increased printing space available on 2ST
receipts, BNZ will be
able to improve its one-to-one customer marketing, communicating with
existing and prospective customers with additional offerings from the
bank. The NCR SelfServ family offers
bill payments and no-envelope intelligent cash and check deposits,
PCI-compliant encrypting PIN pads and unique malware
protection from Solidcore for APTRAÃ¢ÂÂ¢. NCR SelfServ also is the only ATM
family to feature protected USB technology, which allows financial
institutions to add new features to the ATMs quickly without
compromising the security of the ATM. NCR SelfServ ATMs feature
“self-healing” capabilities that automatically
recover from soft failures without intervention, reducing recovery time
from three to four hours to just ten to 15 minutes. BNZ will deploy 2ST
on more than three dozen NCR SelfServ ATMs,
including the SelfServ 22, SelfServ 25 and SelfServ 34.
The ATM market in the Central & Eastern European region grew by 28% last year. Among the countries studied, the greatest absolute growth occurred in Russia, where an additional 19,000 ATMs were installed during 2008. According to the study by Retail Banking Research, Russia is now Europe’s largest ATM market, and SberBank has become its largest deployer, increasing its installed base to 17,500. SberBank and the three other large Russian state-owned banks ?Bank of Moscow, GazPromBank and VTB24 accounted for one third of new installations in Russia in 2008. According to the RBR report 4.2 billion cash withdrawals were made at CEE ATMs in 2008, up by 17% on the previous year. Average usage in CEE fell by 9% to 2,267 cash withdrawals per terminal per month as the increase in the number of installations continued to have a diluting effect on transaction volumes. Estonia’?s machines recorded the heaviest usage at 4,961 cash withdrawals per ATM per month, while Kazakhstan witnessed the lowest level at just 1,148. RBR also found that “Windows XP” has been the most popular ATM operating system in CEE since
2006 growing to a market share of 85% in 2008.
San Jose-based Technology Credit Union has introduced an “iPhone App” that locates surcharge-free ATMs nationwide. The new service is the result of a partnership with NY-based LocatorSearch, a location aggregation provider. The application allows Tech CU members the ability to locate the nearest surcharge-free ATM from Tech CU’s database of more than 60,000 surcharge-free ATMs nationwide. Tech CU is a member of both the Allpoint and CO-OP ATM networks. Tech CU was among the first credit unions to launch a mobile banking platform in August 2007 and was also one of the first credit unions to create a branded “iPhone” web clip so “iPhone” users could access Tech CU’s online banking services. The CU has 78,000 members.Details
Payment processor UpClick is offering free payment processing to online
merchants. UpClick’s offering eliminates processing fees, while also
additional revenue to a software company’s bottom line by offering
complementary, non-competitive offers at the point of checkout.
Merchants choose the offers that are displayed on their checkout pages
from products they own or from those of other merchants in the network.
Processing fees are eliminated for all merchants, whether or not their
customers accept the offers, and the aggregate sales across the UpClick
affiliate network fund the free transactions. Companies that use
UpClick to process payments are also eligibleÃ¢ÂÂbut not
requiredÃ¢ÂÂto cross-sell their products via the platform, and when a
shopper chooses to accept an offer that is presented to them at
checkout, subsequent revenues are shared between all parties involved.
The company also today
announced early adoption of its platform by more than a dozen software
publishers, including Avanquest Software, Sunbelt Software and Ashampoo.
The Western Union Company and Garanti Bank have announced the launch
of a service that allows online banking customers in Turkey to receive
money transfers directly into their bank accounts. Online banking
customers can also send money from the
website at any time to more than 334,000 Western Union Agent locations
in over 200 countries and territories. The service is aimed at busy
people who do not have time to visit an
Agent location and is available 24 hours a day, seven days a week.
Customers can send and receive funds using their online Garanti Bank
accounts by following a few simple steps. The Western Union Money
Transfer service is available at more than 4,000 Agent locations in
Turkey through Ziraat Bank, Turkish Post, Finansbank, ING Bank,
Denizbank, Fortis, TÃÂ¼rkiye Finans and TBank. Garanti Bank is Turkey’s
second largest private
bank with assets reaching in excess of $63 billion.