Ingenico Revenues Rise 15% in 3Q/06

Terminal manufacturer Ingenico reported third quarter sales of $151.3 million compared to $131.2 million for 3Q/05. The Company says sales was driven by strong sales in North America, as well as in Southern Europe, the Middle East and Africa. Historically, the third quarter is a slower period for the company. However, year-to-date sales are running more than 20% over 2005. During the third quarter Ingenico implemented the SNMP protocol in its TCP/IP payment terminals and received “Class B” certification on the “i7780,” “i5100” and “3010” PIN Pad from Chase Paymentech Solutions. The Company also recently teamed with Gilbarco Veeder-Root to develop and deliver comprehensive integrated indoor and outdoor payment technologies that automate petroleum retail sites. Ingenico is currently in the process of mergering with MoneyLine. For complete details on Ingenico’s latest results visit CardData ([www.carddata.com][1]). (CFI Library 8/28/06; 10/2/06; 10/10/06)

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

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EPX Signs a U.S. Transactions Deal with TNS

Transaction Network Services has signed a three-year deal to provide network services for Electronic Payment Exchange’s U.S. merchant transactions. Straight Through Processing from EPX solves the problems created by multiple vendor payment processing and provides efficiencies for merchants. With an end-to-end solution, EPX not only reduces merchants’ costs by eliminating third-party gateway fees, but also increases speed and efficiency. Transaction Network Services is one of the leading providers of business-critical, cost-effective data communications services for transaction-oriented applications. Electronic Payment Exchange is a full-service payment processing company that specializes in enabling businesses to accept credit card, debit card and electronic check payments.

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WaMu Card Outstandings Rise 14% in Q3

Seattle-based Washington Mutual reported that it opened 815,000 new credit card accounts during the third quarter and that card outstandings rose 14%, compared to one-year ago. Net income for the quarter of $210 million matched its first quarter record and was up an estimated 12% over 3Q/05. Managed card receivables were $21.9 billion as of September 30th, compared to $19.3 billion one-year ago. The 30+ day delinquency rate rose 30 basis points to 5.53% compared to 5.23% for the second quarter. However, charge-offs declined from 5.99% in the second quarter to 5.68%. WaMu notes that without the impact of the planned sale of $403 million of higher risk accounts, managed receivables at the end of the third quarter would have been approximately $22.3 billion and the delinquency rate would have been 5.99%. During the quarter WaMu teamed with ESPN to launch a co-branded sports credit card, the “ESPN Total Access VISA.” For complete details on WaMu’s latest performance, visit CardData ([www.carddata.com][1]). (CF Library 9/14/06)

WaMu/Providian Net Income Track Record
3Q/05: $188.1 million*
4Q/05: $166.0 million
1Q/06: $210.0 million
2Q/06: $183.2 million
3Q/06: $210.0 million
* not publicly disclosed
Source: CardData (www.carddata.com)

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

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INGENICO 3Q/06

Terminal manufacturer Ingenico reported third quarter sales of 120 million euros compared to 104.0 million euros for 3Q/05. The Company says revenues were driven by strong sales in North America, as well as in Southern Europe, the Middle East and Africa. Historically, the third quarter is a slower period for the company. However, year-to-date sales are running more than 20% over 2005. During the third quarter Ingenico implemented the SNMP protocol in its TCP/IP payment terminals and received “Class B” certification on the “i7780,” “i5100” and “3010” PIN Pad from Chase Paymentech Solutions. The Company also recently teamed with Gilbarco Veeder-Root to develop and deliver comprehensive integrated indoor and outdoor payment technologies that automate petroleum retail sites. Ingenico is currently in the process of mergering with MoneyLine. For complete details on Ingenico’s latest results visit CardData (www.carddata.com). (CFI Library 8/28/06; 10/2/06; 10/10/06)

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Get Smart About Credit Day

More than 1,000 volunteer bankers this week visited high schools, colleges and after-school programs to teach the fundamentals of credit under the ABA’s “Get Smart About Credit Day”. The national financial education campaign is sponsored by the American Bankers Association Education Foundation. The ABA Education Foundation promotes financial education by connecting bankers and young people. The ABA Education Foundation, a non-profit subsidiary of the American Bankers Association, is committed to developing and providing education programs that lead to financial literacy.

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Citibank Launches a Festive Season Campaign

Citibank India has launched its nationwide festive season promotion which runs from October 18th through December 31st. The “Citibank Most Wanted Brands Offer” ties together thirteen top brands across 12 different categories. It enables customers to avail an assortment of assured gifts, cash back offers, discounts, rebates and sweepstakes on purchases made on their Citibank credit and debit Cards.
Citibank’s partners in the promotion are Shopper’s Stop (retail) and Indiaplaza, a FabMall.com venture (e-Shopping), Hutch (mobile services) and Nokia (mobile phones), Jet Airways (air travel), Travel Guru (holidays), Gili (jewelry), Hewlett-Packard (computers and accessories), Philips and IFB (consumer durables), Reebok (footwear and accessories) Mitsubishi Cedia (automobiles) and The Grand (restaurants).

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PaySimple Hires a New President

Denver-based PaySimple has hired Jeffrey Gardner, formerly of Avaya, as its new President. With over 10 years’ experience in technology marketing, strategic planning, and financial management, Mr. Gardner has a track record of propelling growing companies into market leadership positions. He earned a Masters of Business Administration from the Darden School of Business at the University of Virginia, and a Bachelor of Science in Finance & International Business from Pennsylvania State University. PaySimple is an industry-leading provider of payment management solutions.

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Intuitive Group Launch an Enhanced VISA

Intuitive Group has teamed with VISA to launch a pre-paid multi-currency debit chip-and-PIN reward card. The “myreward card” is a world-first in the sales incentive market. The new card is suitable for delivering reward, incentive, bonus and commission payments for any business from SME to blue-chip companies. The “myreward card” can also be used to accrue rewards through overnight payments made to participants’ card accounts. Users will also have access to a secure e-commerce site where they can check balances online and monitor
progress of their incentive program. The card can be used to pay for goods and services in Pounds Sterling, US Dollars or Euros.

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Pay By Touch Payment Solutions Hires a Prez

Pay By Touch has named Ron Carter, former President and COO of Verus Financial Management and former EVP of Vital Processing Services and President of BUYPASS, as President of Pay By Touch Payment Solutions. Carter brings more than 35 years of experience in general management and operations for the banking and financial services industries to Pay By Touch. As President of Pay By Touch Payment Solutions, he will report directly to Pay By Touch’s President and Chief Operating Officer, John Morris. Pay By Touch is wowing the world one touch at a time as the leader in biometric authentication, personalized marketing and payment solutions.

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ICB to Deploy Fair Isaac’s Global FICO

Dublin-based Irish Credit Bureau has signed a multi-year agreement to use Fair Isaac’s credit risk score. The “Global FICO” score is designed to be consistently scaled across credit bureaus and across national borders. Lenders also use “Global FICO” score to help them meet
“Basel II” and other regulatory compliance requirements. Ireland becomes the sixteenth country across four continents to adopt consumer credit scores using “FICO” scoring technology. The ICB is privately owned by its members.

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AmEx Takes Business Owners’ Pre-Election Pulse

American Express released its semi-annual survey of business owners which found that healthcare, tax relief and energy policy are the top issues among small business owners as they prepare to vote in the mid-term elections. The OPEN from American Express Small Business Monitor, released each spring and fall, is based on a nationally representative sample of 625 small business owners/managers of companies with fewer than 100 employees. The survey was conducted via telephone by International Communications Research from September 12-September 27, 2006. OPEN is the American Express team dedicated exclusively to the success of small business owners and their companies.

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Competition Commission Criticizes Disclosures

The Competition Commission in its investigation into the market for “Personal Current Account” banking services in Northern Ireland has found a lack of clarity on charges and unduly complex charging structures and their application. The CC says this combined with a reluctance among customers to switch providers, are restricting competition in the market for “PCAs” in Northern Ireland. During the course of the CC investigation, three of the four clearing banks in
Northern Ireland introduced or announced plans to offer “fee-free” banking with no transaction or maintenance charges when the
customer is in credit or authorized overdraft. However, the CC found that in many cases this means charges have been increased on unauthorized overdrafts.

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