NCO Group Posts $287MM Fourth Quarter Loss

NCO Group reported fourth quarter revenues of $362.5 million, a decline of 30% from the year ago quarter. Also, a fourth quarter net loss of $286.6 million and EBITDA of $10.9 million. The net loss
and EBITDA results included a non-cash allowance for impairment of
purchased accounts receivable of $35.7 million and $1.4 million of
restructuring charges primarily related to the acquisitions of SST and
OSI. The net loss also included a non-cash impairment of goodwill and
other intangible assets of $289.5 million. For the year NCO posted revenues of $1.5 billion, a net loss of $337.1 million and EBITDA of $95.5 million. For complete details on NCO’s latest performance visit CardData (www.carddata.com).

NCO GROUP REVENUES
4Q/07: $279.7 million
1Q/08: $318.4 million
2Q/08: $405.0 million
3Q/08: $381.1 million
4Q/08: $362.5 million
Source: CardData (www.carddata.com)

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ABA Reports Record Card Delinquency in Q4

Consumer credit delinquencies in the fourth quarter reached its highest level ever, according to the American Bankers Association’s “Consumer Credit Delinquency Bulletin.” Based on total dollars outstanding, delinquency rose to 5.52% in the fourth quarter. Sequentially, delinquent dollars increased 78 basis points. Home equity lines of credit delinquencies also reached a new record, rising 31 basis points to 1.46%. Every category saw rising delinquencies except mobile home loans. The ABA report defines a delinquency as a late payment that is 30 days or more overdue.

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Mpayy Rolls-Out its Secure Debit Service

Chicago-based alternative payment provider Mpayy has rolled out its
“Secure Debit” payments service to all mobile application developers.
Application developers can process payments for just $0.20 + 2.00% from
within
applications on Android, iPhone or Blackberry. Application marketplaces
can open Mpayy Retail Ecommerce & Checkout Host
(REACH) accounts and provide their personal and merchant accounts to the
buyers and sellers within their marketplace. When sellers receive their
funds, Mpayy can move the net amount, providing marketplace fees in real
time, eliminating receivables periods. Merchants get instant mobile
commerce capabilities, and can get paid to their REACH account directly
from their customers’ mobile devices.

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JCB International Names a New Top Exec

JCB International has named Koremitsu Sannomiya as President and Chief
Operating Officer. Sannomiya succeeds Kenji Seto, who has served in the
position since June 2007. Sannomiya had held a number of key positions,
including Executive Vice President since 2000, providing visionary
leadership in key areas and vital issues: corporate planning,
supervising JCB’s Next Generation System migration project, and
developing emerging markets such as small value and utility payment.
Prior to his appointment as President and Chief Operating Officer at
JCBI, he served as Board Member, Executive Officer, and Head of
Strategic Market Development Headquarters Division at JCB, where he
helped to substantially expand the horizon of the credit card payment
market in Japan by marketing new solutions and services, including
widening the small value market with the QUICPay(TM) contactless smart
card payment solution, and undertaking Eco-Action-Point program platform
operations on behalf of Japan’s Ministry of the Environment.

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Payment Application Vendors Seminar Slated

VeriFone and MasterCard are offering an online seminar “Payment Application Vendors and PA-DSS” for merchants to manage fraud. The seminar expands MasterCard’s “PCI Merchant Education Program” to provide practical assistance in educating merchants and encouraging the adoption of the Payment Card Industry Data Security Standard (PCI DSS). The online seminar describes the Payment Application Data Security Standard
and its effects on the multiple parties involved, including application
vendors, merchants and resellers and what types of applications
are affected and how they affect PCI DSS compliance. The webinar also covers the risks involved with not being compliant, and talks though steps merchants can take to help achieve compliance today. Since its inception, more than 2,670 registered acquiring banks and merchants have viewed MasterCard’s PCI Merchant Education Program online training
modules more than 5,900 times.

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Givex Certifies MMS POS Software

Master Merchant Systems’ “MMS POS” software has been certified by gift
card provider Givex. MMS merchants will benefit from using the MMS
system with the
ability to operate their own gift card programs across multiple
locations as well as issue and redeem gift cards in real-time, a full
range of support services, including 24/7 support, fund
settlement between locations, online program administration and
reporting, card production and marketing.

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Surescripts Hires Former MC Exec

Health data provider Surescripts has tapped Harry Totonis, previously
with MasterCard, as its president and CEO. As head of Advisors Services
at MasterCard, Totonis expanded
MasterCard into decision analytics and information-based product and was
responsible for a global team that spanned business development and
sales, product innovation, technology development and customer delivery.
During his tenure, Totonis developed and executed the strategy for
Advisors Services’ and MasterCard’s information and analytics services
— a board level initiative — while expanding service offerings and
streamlining operations. This resulted in significant overall revenue
growth and substantial increases to revenue and net income per employee
for Advisors Services.

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Fitch Places More Card ABS Under Review

Fitch Ratings announced it has placed an additional two classes of U.S. credit card ABS transactions ‘Under Analysis’. Fitch has also extended its ‘Under Analysis’ status for 204 classes from the previous month, awaiting additional analysis or information. Fitch will be issuing a rating action within 30 days. Of the 613 classes of Fitch rated U.S. Credit Card ABS transactions totaling $296.15 billion, 407 were designated with a “SMARTView” date of April 1st, indicating that no in-depth review is necessary. Last month, 218 classes of Fitch rated U.S. credit card ABS transactions had ‘Under Analysis’ status, 14 of which have matured since.

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Public Savings Bank Offers a Secured Visa

PA-based Public Savings Bank is offering a Visa secured credit card.
Customers can deposit anywhere between $300 and $250,000 into a Public
Savings Bank FDIC-insured deposit account. The card functions like any
other credit card where the customer can make purchases or take cash
advances up to the deposited credit
line amount. Payments are reported to all 3 major credit bureaus thus
establishing the credit history. The secured card features zero percent
interest on purchases for the first six months with no annual fee.

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Mobile Money Names a New Sales Director

CA-based Mobile Money Ventures has hired Paul Iemma, previously with
ClairMail, as director of sales. Iemma will be responsible for leading
MMV’s sales
initiative and supporting the company’s strategic development and
growth. Prior to joining MMV, Iemma was a regional vice president
responsible for strategic accounts on the East Coast at ClairMail, a
provider of mobile banking and payment solutions.
Mobile Money Ventures is a global solution provider
of the next generation of mobile financial services applications and
turnkey solution
enables financial institutions, carriers and partners to reduce
time to market, leverage new growth opportunities and enhance customer
loyalty.

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FIS to Acquire Metavante Technologies for $3B

Fidelity National Information Services has completed a deal to acquire Metavante Technologies for $2.94 billion. FIS is a provider of core and transaction processing services, card issuer solutions and outsourcing services to more than 14,000 financial institutions worldwide. Metavante is a provider of banking and payments technologies to approximately 8,000 financial services firms and businesses. The two companies serve complementary customer bases and have highly diversified and recurring revenue streams. In 2008, the companies generated pro forma combined revenue of $5.2 billion. William Foley, chairman of FIS. will serve as chairman of the combined company. Lee Kennedy, FIS president and CEO will serve as executive vice chairman of the board with responsibility for integrating the two companies. Frank Martire, Metavante’s current chairman and CEO will become president and CEO of FIS.

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BLOM & SERVERSIDE

Blom Bank and global technology vendor Serverside Group is now offering
customised payment cards. The card customisation service, the first to
be offered in Lebanon, is available across Blom’s range of VISA Classic,
Electron and prepaid Mini cards. Blom Bank has been promoting the new
card through a multi-channel marketing campaign, comprising of online
ads on Google, Facebook and MSN; prominent positioning on the Blom
website; outdoor billboards and ATM screen ads; press ads and editorial
in key newspapers; an email-out to 18,000 customers; an SMS campaign to
Visa Electron, Mini and Classic cardholders and in-branch posters,
brochures, image library catalogues and LCD screens. Cardholders can
either upload an image of their own or choose one from Blom Bank’s own
‘Image Library. Using a cutting-edge designer, they can then enlarge,
rotate, move or flip their chosen image so they get just the card they
want in a matter of seconds. No software downloads are needed and the
entire card design process is secure.

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