TRM Corporation Names a New CFO

TRM Corporation announced that Michael J. Dolan, previously CFO of Direct Group, has been appointed Chief Financial Officer. Dolan brings over twenty years of financial and accounting experience to TRM Corporation. As CFO at Direct Group, a privately held direct mail and fulfillment services company supporting major financial banking, insurance and marketing firms, he was responsible for managing all finance, treasury, reporting, banking, audit, HR and administrative functions and staffs. Prior to that Dolan held various finance and accounting management positions at Acxiom Corporation and at a time when the company’s annual revenue increased from $68 million to $800 million, he was the company leader in financial management, reporting, controls and systems. He also oversaw capital expenditure, analyzed M&A targets, and was responsible for cash management of roughly $400 million. TRM Corporation is a consumer services company that provides convenience ATM services in high-traffic consumer environments.

Details

Fiserv to Acquire CheckFree for $4.4 Billion

WI-based Fiserv has agreed to acquire CheckFree in an all-cash transaction valued at about $4.4 billion. CheckFree’s Electronic Commerce business serves 21 of the top 25 financial institutions in the U.S. and processes more than 1 billion transactions per year. CheckFree has annual revenues of about $970 million. Fiserv currently serves almost 6,000 core processing clients and all top 100 banks in the U.S. Fiserv says the deal will tightly integrate electronic bill payment and settlement capabilities with its core account processing and risk management solutions to create a unique value proposition unrivaled in the marketplace today. Pete Kight, CheckFree Chairman and CEO will be employed by Fiserv and appointed to its board of directors. Fiserv expects to realize more than $100 million in annualized cost savings and more than $125 million in annualized revenue synergies. The transaction is expected to close by the end of the year.

Details

Heartland Payment Systems Q2 Profits Up 40%

NJ-based Heartland Payment Systems reported that total revenues for the second quarter were up 20% to $333 million. Net income for the quarter jumped 40% to $10.4 million. Processing volume for the second quarter increased 21% to $13.3 billion from the same period in 2006. The Company’s active merchant count rose to 152,400 at June 30th, a 19% increase over the past twelve months. Same store sales at its installed base rose 3.3% during the quarter. Heartland noted that 84% of new merchants installed and 73% of total transactions were on “HPS Exchange.” The Company reaffirmed its 2007 full year guidance with net revenue (total revenues less interchange, dues and assessments) expected to grow between 21% and 23%. For complete details on Heartland Payment Systems’ second quarter performance visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

Details

BARCLAYCARD & TNS

Barclaycard Business has extended its contract with Transaction
Network Services (TNS) to provide transaction security products and
services on the TNS network. For its more than 152,000 corporate
customers and 33.3% of UK retailers, Barclaycard will implement the
TNS POS routing. This routing is conducted over ISDN or PSTN,
DSL, host to host, and leased line connectivity. TNS provides electronic
transactions for various companies and has 32 offices in 29 countries.
Barclaycard has nearly 95,000 retailer and business relationships for
processing card payments, over 152,000 corporate customers and over
565,000 cardholders. In 2005, more than 1.8 billion purchases were
made with credit and debit cards through 192,000 Barclaycard Businessâ™
customer outlets in the UK.

Details

PLATINUM AVION VISA

RBC reported it surpassed more than 10 million successful chip transactions at compatible merchant locations in Canada and worldwide. This milestone comes four years after RBC became the first Canadian financial institution to begin issuing chip cards nationally to
its “Platinum Avion VISA” cardholders in 2003. As part of Canada’s migration to chip cards, RBC along with other members of the Canadian payment card industry have announced a chip market trial to start this fall in Kitchener-Waterloo, Ontario, leading into a national rollout of chip-enabled cards, ATMs and merchant terminals over the next several years. In the past four years “RBC Avion” cardholders have been using chip in over 100 countries worldwide, most often in Europe and South America, but also in Saudi Arabia, Australia, and South East Asia. However, the majority of chip transactions are now occurring in Canada as more chip-enabled terminals are being placed with merchants.

Details

USAT Goes to the NASDAQ Global Market

USA Technologies announced that the NASDAQ Stock Market has approved its application to upgrade its listing from the NASDAQ Capital Market to the NASDAQ Global Market. Trading of the Company’s stock on the NASDAQ Global Market will commence at the market open on Wednesday, August 1, 2007 under the company’s current ticker symbol “USAT”. USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management.

Details

CREDIT TOOL

Transunion has introduced an analytical tool, “Bureau Credit
Characteristics,” for consumer credit risk assessment in providing
information such as demographics, public records, enquiries and payment
performance. The solution develops risk “scorecards” which can define
and implement rules and policies throughout the customer lifecycle and be
customized for the business’ needs. “Bureau Credit Characteristics” can
also be used to identify segments and trends in their portfolios to
minimize
risk and maximize returns. TransUnion employs more than 4,000 employees
in over 30 countries on six continents.

Details

WING LUNG BANK & THALES

Wing Lung Bank has deployed Thales’ “SafeSign” for two-factor based
retail e-banking user authentication to meet Hong Kong Monetary Authority
(HKMA) standards. Because the HKMA directive asserts that single-factor
authentication for high-risk transactions is no longer adequate, Thales and
Wing Lung Bank collaborated to design and implement a two-factor
authentication system for integration with the bank’s existing and future
applications. Specifically, this solution uses Vasco hand-held tokens
combined
with the user’s online password or user name. Using a flexible platform for
consumer use, the solution provides risk assessment for the appropriate
security level. Thales employs 68,000 in 50 countries and projects 07
revenues
of over 12 billion euro. Wing Lung Bank had 2006 assets of HK$85 billion,
a total staff of more than 1,400 and 41 banking offices.

Details

BEA & JCB

The Bank Of East Asia (BEA) and JCB International have introduced a
“BEA JCB PLATINUM” credit card targeting the trendy, younger demographic. In
marketing to this demographic, the card offers discounts at various
retail stores and
restaurant using BEA local knowledge and JCB Japanese business connections.
Other benefits include free magazine subscription with a balance
HK$3,000 or above
per month, 4X the standard cash rebate when spending at designated merchant
locations, discounts at over 20 Japanese restaurants in Hong Kong, 7-day
worldwide travel insurance, cash rebates of HK$1 for every HK$250 in retail
spending, MAX DVD and Hi-Fi set, interest-free cash installment plan
amount of
up to HK$40,000, and an HK$100 I.T. cash coupon. BEA Hong Kong independent
bank has assets of HK$294.2 billion and more than 190 outlets worldwide. JCB
has a network of 13.5 million merchants in over 190 countries and
territories. JCB
cards are issued in 19 countries, though alliances with 350 banks, with
more than 55.75
million cardmembers.

Details