STM POS

STMicroelectronics has introduced its POS solution that combines a card
payment and a fiscal cash register intent on improving efficiency. This
fiscal
cash register provides memory to record sales transactions at the POS
machine integrating capabilities and functions on one board. This provides
for the use of fewer components and as much 70% less material costs. Using
a secure wireless connection, protecting the merchant from unauthorized
access and virus attacks, USB, Ethernet and RFID connections allow the
POS platform to connect with external data systems, such as a stock
inventory database. STMicroelectronics annual net revenues in 2006 were
$9.85 billion with net earnings of $782 million.

Details

Discover Board Adds a Federal Reserve Exec

Discover Financial Services has announced the addition of Michael H. Moskow, former president and chief executive officer of the Federal Reserve Bank of Chicago, to the company’s Board of Directors. Moskow retired as CEO of the Federal Reserve Bank of Chicago in 2007, where he had served since 1994. Prior to that appointment, he served as a faculty member of the J.L. Kellogg Graduate School of Management at Northwestern University. Before that, Moskow was a deputy U.S. trade representative with the rank of Ambassador, following his appointment by President George H. Bush in 1991. During the course of his career, Moskow was confirmed by the Senate for five U.S. government positions. Moskow is the vice chairman of the Chicago Council on Global Affairs and serves as a director of the Council on Foreign Relations in New York. He is a former chairman of the Economic Club of Chicago. Moskow received an A.B. in economics from Lafayette College and a Ph.D. in business and applied economics from the University of Pennsylvania.

Details

WESTERN UNION DEALS

The Western Union Company has recently re signed multi-year remittance
agreements with Universal Storefront Services Corporation, e-Business
Services
Inc and PETNET Inc. In addition, WU has signed remittance agreements with
3 new agents including Direct Agent 5 Inc., JP Tambunting pawnshops and
EMCOR Incorporated. The Philippines is the fourth largest receiver of
remittances in the world with projections to reach over $14 billion by 2008
with over 8 million Filipino workers abroad. Western Union has over 312,000
Agent locations in over 200 countries and territories around the world.

Details

Moneta Acquires CheckFree’s Retail Payments

NC-based online payment system Moneta has acquired the Retail Payments product formerly owned by CheckFree. The “RPS” technology enables consumers to purchase goods and services by transferring money directly from their checking accounts to participating merchants. Under the terms of the acquisition agreement, all customer accounts and CheckFree employees who support the “RPS” product will transfer to Moneta. CheckFree will continue to partner with Moneta and provide payment processing. Moneta has already established relationships with several major airlines and the “RPS” technology that it has acquired from CheckFree will allow Moneta to expand its position both within the travel industry and among all online and traditional merchants.

Details

INGENICO 2Q/07

Payment terminal manufacturer Ingenico reported second quarter sales of 141.2 million euros compared to 135.2 million euros for 2Q/06. However, its proposed merger with Sagem Monetel has drawn tough criticism by Sagem employees who nearly unanimously voted against the merger. Ingenico and Sagem signed a MOU in August to merge. The Company says the integration of MoneyLine operations and the robust business recorded in Southern European countries, in Asia and in the EEMEA zone drove the revenue growth. The improvement in the gross margin, up from 31% to 34.5%, resulted from progress recorded both in terminals and in services and solutions, says Ingenico. With regard to terminals, the main factors accounting for the improvement were the ongoing redesign to cost operations, the policy aimed at streamlining its subcontracting, negotiation of prices and the improvement in quality. For complete details on Ingenico’s latest results visit CardData (www.carddata.com).

Details

KKR Acquisition of First Data Underway Today

First Data this morning announced that it expects to close its acquisition by affiliates of Kohlberg Kravis Roberts later today. Last month, FDC received all domestic and international regulatory approvals to close the pending merger with KKR. On July 31st, FDC shareholders approved the merger agreement. Of the shares that were voted, over 98% were cast in favor of the merger. Upon the closing of the merger, the Company’s shareholders will be entitled to receive $34.00 in cash, without interest, for each share of First Data common stock held. In July, FDC announced that Michael Capellas will become CEO after KKR completes its acquisition of the Company to succeed CEO Ric Duques. (CF Library 7/10/07; 8/22/07)

Details

WINCOR NIXDORF BOARD

The Wincor Nixdorf AG Board of Directors will be seeing a number of
changes in the coming months. Jurgen Wilde will be stepping down from his
position on the board, where he oversees Wincor Nixdorf’s retail segment,
for health reasons effective January 28, 2008. With this agreement between
Wilde and the board, the decision has been made to reduce the number of
directors on the board from 4 to 3. Furthermore, to replace Wilde will be
Dr. Herbert Machill as Senior Vice President, effective October 1, 2007.
Dr. Machill brings to the company IT experience with DaimlerChrysler Group
and, most recently, Debis Systemhaus IT-Services, where he managed the
company’s ICT service and solution business for a variety of business
segments.
Dr. Machill has his advanced education in mechanical engineering.

Details

Heartland Payment Makes the InformationWeek 500

Heartland Payment Systems has been named a leader among the nation’s most innovative companies on the “InformationWeek 500”. InformationWeek recognized Heartland for its innovative IT strategies such as “Passport” – its proprietary back-end processing and data delivery system. With Passport, Heartland was able to in-source its entire accounting and billing system. Bringing the system in-house enables Heartland to expedite the activation of new customers, lower customers’ processing costs, offer next-day funding, and collect real-time data for quick issue identification and resolution. For nearly 20 years, InformationWeek has identified and honored the nation’s most innovative users of information technology with its annual listing. Heartland Payment Systems is a provider of credit/debit/prepaid card processing, payroll and payment solutions.

Details

ALMA DE MEXICO & UATP

Alma de Mexico airlines has joined the UATP global corporate travel
payment network network to accept all UATP corporate cards to be
processed through UATP Settlement Services (USS). Alma de Mexico
operates 15 regional jets with plans to expand up to 21 jets by the end
of 2007 giving the means to serve 20 new destinations. UATP accounts
are accepted as a form of payment for corporate business travel by airlines
and travel agencies worldwide.

Details

Discover & Wells Fargo Ink an Acquiring Deal

After inking a landmark deal with Chase Paymentech last week, Discover Financial Services has signed an agreement with Wells Fargo Merchant Services to offer full-service processing for all Discover transactions through WFMS. Wells Fargo will offer its 214,000 merchants a streamlined payment processing experience with the convenience of a single source for statements, settlement, and customer service. Chase Paymentech has already integrated Discover Network into the merchant boarding process as the first step towards full integration, and expects to rollout the full processing package to its existing merchant customers starting early next year. Chase Paymentech is the world’s largest merchant acquirer, with a customer base of more than 600,000 merchants in almost 1 million locations. In December, RBS Lynk completed integration and roll-out of direct Discover Network card processing. Also last year, First National Merchant Solutions agreed to offer it customers Discover card acquiring services. U.S. Bancorp’s NOVA Information Systems signed a merchant acquiring agreement to add Discover Network card acceptance. Additionally, Global Payments and TSYS Acquiring Solutions agreed to expand the card’s acceptance. (CF Library 10/10/06; 12/5/06; 12/18/06; 9/20/07)

Details

GLOBALPLATFORM SECURITY

For improvement of its security environment, namely mobile phone and
EFT/POS terminal applications, GlobalPlatform has published new versions
of core device specifications. The advanced version, “GPD/STIP v2.3,”
allows applications to securely coexist on the same device and allows
application providers to administer control over downloadable and broad-
cast content rights. “GPD/STIP v2.3” also provides security of the GPD/STIP
environment for multiple applications extending interoperability through
standardization. GlobalPlatform is a member driven association for the
development of smartcard infrastructure and has a global cross-industry
representation.

Details

OnSite Achieves Shift4 API Certification

Software developer OnSite has achieved Shift4 API Certification for their “POS for NetSuite” application to authorizes POS for NetSuite to use Shift4’s “Dollars on the Net”payment processing solution. OnSite’s “POS for NetSuite” automates point-of-sale activities and layers on top of a NetSuite account, leveraging the entire NetSuite platform without duplication of records or reporting and eliminates multiple databases and reconciliation of online/offline sales and inventory. “Dollars on the Net” is a comprehensive payment processing gateway that enables POS for NetSuite to process “card present” point-of-sale credit and PIN debit card transactions. OnSite is an independent software vendor and consulting firm. Shift4 is a developer of secure financial transaction processing software and services.

Details