NJ-based consumer debt collector Asta Funding confirms it has received a delisting warning from Nasdaq due to non-filing of its “10-K Annual Report” for the year ending September 30th. The Nasdaq letter indicated that Asta has until March 6th to submit a plan to regain compliance. The Company says it expects to resolve the issues with its lenders and to file its Form 10-K within the next two weeks. Last month the firm announced it was cutting its dividend in half. Asta Funding’s last earnings report, covering the second quarter, showed a decrease of 39% in quarterly finance income compared to the year ago quarter. Net income also fell from $15.3 million for 2Q/07 to $2.4 million. Earlier this week, VeriFone confirmed it has delayed the release of its “10-K Annual Report” for the fiscal year ended October 31st. The Company expects the report to be out by January 14th. Also, Hypercom confirmed it received a notice of non-compliance from the NYSE after its stock fell to an average closing price of less than $1.00 per share during a consecutive 30-trading-day period. (CF Library 8/12/08; 1/5/09; 1/6/09)Details
CO-based card manufacturer CPI has hired Julie Hermanson as its new Quality Manager.
Hermanson has worked in the card industry since 1996 and brings extensive
experience to CPI. Her previous positions with other card manufacturers include Director of
Continuous Improvement, Director of Quality and Director of Quality &
Education. Hermanson was the first woman to receive the ICMA’s prestigious ACE
certification in 2007. This accreditation validates industry expertise
and distinguishes employees as experts in card manufacturing processes. She holds an associates
degree in commercial design and certificates in both Facilitation and
Lean Manufacturing Processes.
Prepaid MasterCard provider Branded Marketing has hired Sandro F. OrÃ©,
previously with MasterCard, as Chief Marketing Officer.
Ore’s chief responsibilities will be to establish the
firm’s marketing function, develop strategic partnerships, expand the
company’s product portfolio and play a critical role in business
development. Branded Marketing prepaid card programs for
the U.S. Latino market include the “Pr1macard” family of
prepaid cards which is integrated into its “Pay-per-Spot” free international calling technology.
Branded Marketing’s family of stored-value products and services provide a
solution for reloadable, general spending that can be used by
the unbanked and under-banked for various financial reasons including:
payroll, commission, rebates or gift cards. The “Pr1macard Prepaid MasterCard” is issued by Palm Desert National Bank.
Hypercom has unveiled the industryâs first standards-based remote key
injection product that allows retailers to initiate on-site, in store
payment terminal key injection at the POS. The new “HyperSafe Remote Key
System” eliminates the need for off-site secure room key injections by
incorporating “PKI” to securely distribute symmetric “3DES” keys. The
system incorporates a Futurex “Excrypt KMS9000” key management server
with specific functionality developed for Hypercom.
The system is “X509,” “FIPS 140-2 Level 3” and “PCI DSS” compliant and
meets “ANSI x9.24” and Visa “PIN Security Guidelines” for remote key
management. Hypercomâs “HRKS” is available now with the “Optimum L4150”
and “L4250” multi-lane terminals as well as later versions of the
Nashville-based footwear retailer Genesco will upgrade its POS systems using Fujitsuâs “TeamPoS 3000 XL2 systems”.
The rollout includes 1,350 locations across Genescoâs Journeys, Journeys
Kidz, Shi by Journeys, Underground Station and Johnston & Murphy chains.
Fujitsuâs TeamPoS 3000 XL2 is the first POS system to feature Intelâs
Coreâ¢2 Duo mobile processor, giving retailers powerful performance and
energy efficiency. Point-of-sale processing is 300 percent faster with
the dual-core processor than previous technology â and 40 percent more
energy efficient than desktop architecture. Fujitsu also will provide staging, project management and installation
for the initiative, which began this summer and is scheduled to continue
A new poll shows 56% of Americans feel less secure about their
financial situation in early 2009. The “Harris Poll” found that 24% of
consumers say they will get rid of one or more credit cards this year.
About 55% say they expect to cut back on their household spending while
45% expect to pay down their level of debt and 42% say they expect to
save more in the year ahead. Two in five Americans believe their
personal finances will stay the same in the coming year, while 27% say
they will get worse and 22% believe they will improve. Going into 2008,
people were somewhat, but not much, more positive as 31% said they
thought their personal finances would improve. Harris also found that
Echo Boomers (those aged 18-31) are the ones least concerned about the
economy, but they still have concerns.
AARP and Chase have rolled out an enhanced version of “Chase Clear and
Simple” to provide financial literacy resources.
The site features a new interactive financial literacy guide â50 Ways to
Love Your Moneyâ that was developed in collaboration with AARP Financial
and Visa. This free guide is designed to help people age 50 and over
successfully manage their finances and includes an introduction by
renowned personal finance expert Jean Chatzky.
The online version of â50 Ways to Love Your Moneyâ offers helpful tips
on a wide variety of topics including saving and budgeting, using credit
and debit cards, monitoring credit reports, and managing debt.
Langenhagen-based Spartanics, which manufactures laser cutters for plastic card manufacturers, has released “Laser Cutting Technical Guide: How to Match Today’s Laser Cutting Technology to Application Requirements Ã¢ÂÂ Parts I and II”. Spartanics, which manufactures both lower-cost systems and high-end laser cutters, created this laser cutting technical guide to help plastic card manufacturers select the types of components and features they need in laser cutting technology, without encumbering either excess cost or inadequate performance capabilities. The Laser Cutting Technical Guide chapters include “Choosing Between Laser Cutting vs. Tool-based Die Cutting Systems”; “Quality and the Soft Marking Standard”; “Cutting Speed vs. Web Speed; “Fallacy of the Double Scan Head Advantage”; “Systems Integration, User-Friendliness and Production Output”; “Selecting System Components”; and “Suggested Method for Sourcing Laser Cutting Technology”.Details
HSBC has deployed Authentication solution provider Authentify to protect online and remote transactions
from fraud. Authentify’s services are invoked automatically to authenticate online users
attempting certain transaction types against HSBC accounts. The
“out-of-band” process requires user specific details be entered into the
telephone, separately from the Internet side of the exchange. The
process isolates the authentication from Internet threats. It becomes
much more difficult to hijack or tamper with an account even when armed
with compromised identity information. The company’s patented technology employs a message based
architecture permitting easy layering with existing technology and
infrastructure. The company’s primary focus is providing authentication
services to enable routine but sensitive processes to complete with high
levels of certainty. HSBC Group serves over 125 million customers worldwide, with more than 10,000 offices in 83 countries.
Credit card payment volume fell precipitously in the fourth quarter dropping from a year-on-year growth rate of 21% in September to 9% in December. In 2007, credit card payment volume, excluding cash advances was 313 trillion won, an 18% increase over the prior year. It appears that 2008 will post about a 15% gain, pushing annual volume to about 360 million won. According to the Credit Finance Association of Korea, over the past five year credit card volume has grown about 30%. Credit card payment volume was 27 trillion won in December. The CFA says the year-on-year growth rate of credit card spending was 15.2% in October, 9.8% in November and to 9.1% percent in December.Details
Data authenticator VASCO has revised its projected revenue for 2008.
The revision is due in part to deterioration of the economy in the U.S.
and a number of delayed orders in other geographic markets. VASCO
expects that revenue growth for 2008 to be in a range of 9% to 12%
compared to 2007 and expects full year gross margin and
operating margin to be within the previously announced ranges.
While VASCO is initiating a cost containment program going forward, the
expectation is that the investments made in people and infrastructure in
will result in positive returns in 2009. VASCO is a global supplier of
strong authentication and e-signature
solutions and services specializing in Internet Security applications