Smart Payment Solutions Hires a New Exec

VA-based Smart Payment Solutions has hired David Durick, formerly with the National Check Network, as Director of Business Development. Durick will open and head the company’s new office in Nashua, New Hampshire. Durick’s background includes 12 years of sales, consulting, administrative, operational and technical experience in the check verification, collection and ACH payments industries. Prior to joining Smart Payment Solutions, Durick spent 10 years helping to build the National Check Network (NCN) now owned and operated by ECHO. Smart Payment Solutions is a payment processing company that helps organizations of all sizes grow and prosper.

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CO-OP Adds Two New Directors

CO-OP Financial Services has added Terry Laudick, President/CEO of New Mexico Educators FCU and Wendell Sebastian, President/CEO of GTE FCU to its Board of Directors. Under Laudick’s six years at the helm, NMEFCU, the largest credit union in New Mexico with 100,000 member-owners and 12 offices in the Albuquerque metropolitan area, has opened four branches and added shared branching as a product offering. In 1989, Sebastian joined GTEFCU, which is now a top-30 credit union with $2 billion in assets, 24 branches and 140,000 members in the greater Tampa Bay, and has been a CO-OP member since 2002. Established in 1981 and located in Ontario, Calif., CO-OP Financial Services (formerly CO-OP Network) is wholly-owned by its credit union shareholders and provides volume discounts on products and services that include ATM network access, ATM processing, debit/card services and shared branching.

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FIS, U.S. Bank & GCA Settle Patent Dispute

Global Cash Access, Certegy Check Services, Game Financial and U.S. Bank’s Ultron have settled a dispute over an ATM patent. The GCA patent relates to using an ATM as both an ATM and a POS terminal for some users. The defendants had counterclaimed, asserting that GCA engaged in unfair trade practices and that its patents were not enforceable. All parties denied liability to one another. The parties have entered into a “Settlement” and “Patent License Agreement” and “Release.”

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Obopay Adds Three New Executives

CA-based Obopay has hired Christian Delay as VP of business development for mobile; Ramy Mora as VP of consumer marketing; and Sam Shawki as VP of customer operations. Christian Delay joins Obopay from Yahoo!. At Yahoo!, Delay led such marquee mobile business development initiatives as Yahoo! Go Mobile with Cingular, Yahoo! SMS Search, and the “Pepsi Cool Tones and Motorola Phones” promotion. Ramy Mora brings to Obopay a wealth of consumer marketing experience and domain expertise, having driven consumer marketing at such established industry leaders as Clorox, Microsoft, and Yahoo!. Obopay will bring to market the first complete mobile payment service in the U.S.

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EDS and Brazil’s Visanet Extend Contract

EDS and Brazil-based Visanet extended their relationship for ten more years under a $209 million contract extension. EDS will continue to provide information technology and business process outsourcing services to manage and support Visanet’s merchant processing in the country. Visanet processes more than two billion VISA transactions per year and supports about one million merchants in Brazil. Visanet and EDS also jointly manage the company’s call center, which handles more than 450,000 merchant calls per month to provide merchant services. Under the newly signed agreement EDS will also provide help desk services to assist Visanet merchants with POS equipment technical support. Visanet is responsible for 58% of the transactions made with credit cards in Brazil.

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RBS Lynk Links with IPIN’s Retail Pro

CA-based Island Pacific has inked an agreement with RBS Lynk to offer full service integrated payment processing solutions through its newly formed Retail Pro Payment Solutions division. The three year agreement will allow Retail Pro to offer an advanced embedded payment solution with support for credit, debit, check, gift, loyalty and more. The new solution will be available this fall for users of both “Retail Pro 8”-series and “9”-series versions of the Company’s software. “Retail Pro” is available in 18 languages and localized for use in 73 countries around the world. Island Pacific/Retail Pro software is in use in more than 35,000 store locations worldwide.

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Nabancard to Deploy VeriFone’s Vx 570

MI-based North American Bancard has agreed to a deal to order thousands of VeriFone’s “Vx 570” payment solutions. Nabancard is a MSP/ISO providing servces to more than 20,000 clients. The “Vx 570” is the successor to the VeriFone “Omni 3750.” The “Vx 570” is a member of VeriFone’s “Vx Solutions” product suite. VeriFone says the deal reflects increasing market traction for its premier countertop payment solution.

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VeriFone Profits Climb 12% Sequentially

VeriFone reported that its profits nearly tripled year-on-year and rose 12% sequentially to $16.8 million for the three months ending July 31st. Revenues for the quarter were up 17% to $147.6 million compared to one-year ago, driven by a 19% increase in net revenues from its North America business. The Company says it expects to close the acquisition of Lipman by November 1st, and is confident that we will receive clearance by the DOJ shortly. In April VeriFone announced a deal to acquire Lipman, which valued around $793 million. In August VeriFone announced its acquisition of Trintech’s payment systems business, which closed on Friday. For complete details on VeriFone’s latest performance, visit CardData ([www.carddata.com][1]) (CF Library 4/10/06; 8/15/06)

REVENUE HISTORICAL
2Q/04: $104.0 million
3Q/04: $108.6 million
4Q/04: $111.3 million
1Q/05: $117.9 million
2Q/05: $125.7 million
3Q/05: $130.5 million
4Q/05: $134.6 million
1Q/06: $142.2 million
2Q/06: $147.6 million
Source: CardData (www.carddata.com)

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

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Associated Banc Selects Corillian

WI-based Associated Banc-Corp has signed Corillian for an online authentication security solution for its retail online banking customers. Associated will leverage Corillian Intelligent Authentication to supply an additional layer of security in order to protect customers’ accounts and assets from online fraudulent access. Associated Banc-Corp, headquartered in Green Bay, Wis., is a diversified bank holding company with total assets of $21 billion. Corillian is the market leader of online banking, payment and security solutions to the financial services industry.

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BankServ Enters Person-to-Person Payments

San Francisco-based BankServ is entering electronic person-to-person payments with the acquisition of a U.K. firm. The Company has acquired Magex Managed Payments Platform. The deal gives BankServ a new client in Zopa, an online lending exchange with more than 90,000 members in the U.K. For BankServ, the acquisition represents one more addition to its electronic payments suite that already includes wire transfers, Web payments, remote check deposit, foreign-currency exchange, and international SWIFT messaging. It also gives the company access to the BACS network for ACH payments in the U.K. as a complement to its similar standing with the NACHA in the U.S.

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Chase Advises and Buys Pier 1 Credit Cards

Pier 1 Imports is exiting the credit card business, selling its one million active private label credit card accounts to Chase. The specialty retailer of imported decorative home furnishings and gifts will receive a 10.7% premium on the sale of its $140 million portfolio. Chase and Pier 1 will also enter into a long-term marketing and servicing agreement. Pier 1 has run its proprietary card program for 18 years. The “Pier 1 Preferred Card” will continue to be offered through Chase under the Pier 1 brand. The transaction is expected to close in the fourth quarter. Pier 1 Imports was represented by JPMorgan and Winstead Sechrest & Minick. Pier 1 retained JPMorgan to assist in a potential transaction to sell the Company’s proprietary credit card business in May. (CF Library 5/5/06)

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Experian Finds Online Furniture Shopping Returns

Experian’s PriceGrabber.com’s latest “Consumer Behavior Report” shows a 92% increase in merchant referrals over the past six months to retailers in the online furniture category and a 50% increase in merchant referrals for online major appliances. Although furniture traditionally is a look and feel purchase, consumers now are willing to purchase items such as sofas, patio furniture and tables online in addition to buying from a brick-and-mortar store. From shopper behavior over the past few months, it appears that shoppers are doing their homework by researching online for sales, lower tax rates and free shipping. PriceGrabber.com, part of Experian InteractiveSM, has established itself as one of the most trusted and effective online comparison shopping services, allowing approximately 21 million consumers each month to search and compare information that enables them to find the right product from the right retailer at the best price.

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