Euronet’s Q2 Profits Quadruple Y/Y

KS-based Euronet Worldwide reported that second quarter revenues increased 16% to $153.8 million year-on-year. Net income rose to $11.1 million, compared to net income for the second quarter 2005 of $2.7 million. EFT Processing posted revenues of $32.4 million, compared to $26.0 million for 2Q/05. Transactions processed were 113.6 million, compared to 86.8 million transactions in the same period last year. The EFT Segment completed the quarter with 7,866 ATMs owned or operated, including 58 ATMs Euronet installed in China, compared to 6,565 ATMs at the end of 2Q/05. Prepaid Processing reported revenues of $114.2. Transactions processed were 107.8 million, compared to 86.2 million transactions in the second quarter 2005. The Software Solutions segment produced revenues of $7.2 million for the quarter. Combining all segments, transactions processed in the second quarter were 221.4 million compared to 173.0 million processed in the second quarter 2005, a 28% increase. For complete details on Euronet’s latest results visit CardData ([www.carddata.com][1]).

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

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FDC and Banco Popular Ink a Big Deal

First Data and Banco Popular North America have signed a new revenue-sharing alliance agreement. First Data will provide merchant payment processing services on behalf of BPNA. BPNA will offer merchant services to its business customers through an expanded portfolio of electronic payment products and services, including credit, debit and gift card programs. Currently, BPNA has more than 50,000 small business customers throughout the U.S. The agreement also expands BPNA’s merchant support network by adding dedicated First Data sales executives throughout BPNA’s markets. The agreement will also allow BPNA to offer next-day settlement for customers with a Banco Popular business checking account.

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VCT Hires a New Quality Control Executive

IL-based Versatile Card Technology has hired Julie Hermanson, former chairperson for the “ISO B10.3 Card Service Life Committee”, as its new Director of Quality Management Systems overseeing quality control at the Company’s manufacturing plants in IL and NJ. Hermanson is focusing on organizational performance in leadership, process approach, and customer service. These areas are part of the eight Quality Management Principles. She will continue her involvement in the ISO International Cards Standards where she is renowned for her quality management activities. Prior to join VCT, Hermanson was an independent consultant to the plastic card industry. She also held the position of Director of Quality and Training at a plastic card manufacturing company. As a globally recognized leader, and the largest American manufacturer of plastic cards, Versatile Card Technology produces cards for every application and offers complete fulfillment services and turnkey solutions.

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Intelli-Check Inks a CU Agreement with FSC

NY-based Intelli-Check has signed an agreement with Financial Service Centers Cooperative to offer a technology solution for authenticating identity documents presented by members and shared branch members. FSCC has a Fraud Prevention and Detection Program, which includes on-line fraud tracking of transactions, large deposit notifications, Daily Deposit/Payment reports, Fraud Alerts, Fraud training tools and a Fraud Buster Program that awards credit union staff when fraud is stopped. FSCC is a cooperative shared branching network, owned and controlled directly by credit unions. Intelli-Check, Inc. is the acknowledged leader in technology that helps assure the authenticity of driver licenses, state issued non-driver and military identification cards used as proof of identity.

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Morgan Beaumont Lands an RBS Lynk Exec

FL-based Morgan Beaumont has hired Jerry Uffner, formerly of RBS Lynk, as VP/Sales. Prior to joining Morgan Beaumont, Uffner was the Director of Sales — Prepaid Products Division of RBS Lynk, a prepaid card provider and processor. Uffner has also held sales management positions with First Data and InComm. Uffner will report to Erik Jensen, the Company’s President. Morgan Beaumont, Inc. is a Technology Solutions Company located in Bradenton, Florida, and is one of the premier providers of Stored Value and Prepaid Card Solutions in the United States.

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Oberthur Sets a New Smart Card Record

Los Angeles-based Oberthur Card Systems reported that during the second quarter revenues increased slightly to $155.2 million. During the quarter Oberthur delivered 58.7 million microprocessor cards, breaking the record of 58.2 million cards set in the fourth quarter of last year. However, the payment segment top line amounted to $27.7 million, a 38% decrease at constant exchange rate compared to 2Q/05. The decrease in sales is due to two momentary and localized events. The French market is experiencing a temporary lower activity with the delay of DDA migration and the UK market, which posted extremely strong revenue in 2Q/05, led to a comparative decrease in sales. But, Oberthur says with 15.1 million cards delivered against 16 million, volumes were stable sequentially. Sales in the “Other Cards” Segment (magnetic stripe cards, scratch cards and memory cards) amounted to $27.3 million, a 16.7% increase year-on-year. For complete details on Oberthur’s second quarter performance, visit CardData ([www.carddata.com][1])

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

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Currency Conversion Lawsuit is Settled

VISA, MasterCard and Diners Club have agreed to settle a lawsuit over foreign currency conversion fees for $336 million. MasterCard, now a public company, disclosed its share will be more than $72 million. Other defendants include Bank of America, MBNA, Chase, WaMu and Providian. The lawsuit alleged that the network and issuers failed to disclose the costs associated with conducting transactions in foreign countries, or with foreign companies. The defendants largely said the litigation costs forced a settlement.

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Utix to Offer a PGA Tour Prepaid Card

MA-based Utix Group has signed a five-year deal with the PGA Tour to offer a U.S. prepaid card. Subject to certain conditions, PGA TOUR granted us an exclusive license and right, without a right of sublicense, to use PGA TOUR’s logo in connection with the development, sale and marketing of prepaid golf experience ticket products and services (the “Licensed Products”), subject to PGA TOUR’s prior approval. Both parties agreed to negotiate in good faith toward the finalization of a definitive agreement by no later than December 31, 2006.

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CELCOM VISA

Celcom and Citibank have launched a co-brand credit card that offers a 5% cash rebate on mobile phone bills plus a rewards program.
The new “Citibank Celcom VISA” credit card also waives the first year credit card annual fee, RM36 for SIM card rescue and RM50 for SIM card replacement. Cardholders earn 50% extra reward points for all non-Celcom purchases while for Celcom bills, they can earn triple reward points.
The reward points can be redeemed for free SMS, Internet browsing time, or even pay Celcom phone bills. The new card is targeted at both male and female mobile phone users, between 21 to 55 years of age with an annual income of RM18,000 and above. There are 20 million mobile phone users in Malaysia.

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Interstate to Offer the All-Access VISA

X-based Interstate Connections has inked a deal with NetSpend to sell the “All-Access VISA Prepaid Card,” issued by MetaBank. Under the agreement, Interstate Connections will immediately begin offering the All-Access Prepaid Card across its network of 100 retail interstate travel centers and truck stops throughout the United States. NetSpend Corporation is the leading provider of prepaid debit cards for America’s underserved markets. MetaBank is a federally-chartered savings bank headquartered in Storm Lake, Iowa. Meta Financial Group, Inc.(R) is the bank holding company for MetaBank, MetaBank West Central, Meta Payment Systems(R), and Meta Trust Company(R).

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