ING Card has deployed Arcot Systems’ “3-D Secure” consumer authentication solution for large-scale Internet card transactions. The implementation of Arcot’s TransFort (3-D Secure) solution will provide barriers to the unauthorized use of credit and debit cards for Internet transactions, providing over 1.3 million Dutch ING cardholders with improved protections against identity theft. In order to launch the new authentication service as quickly as possible, ING Card chose a standard set of 3-D Secure options that would enable ING Card to be fully compliant with card scheme rules. Arcot is a leading provider of secure e-payment, strong authentication, credential management, and digital signature software solutions.Details
FL-based American Bancard has hired John Rody as its CFO. Mr. Rody brings more than 13 years of financial and management experience to American Bancard, where he will spearhead the management of a more efficient and sophisticated Accounting and Finance department. He was Chief Operating Officer and Chief Financial Officer of CRO Realty, Inc., a real estate development concern in Deerfield Beach, Florida. AMERICAN BANCARD, LLC, headquartered in Boca Raton FL, is a registered Independent Sales Organization/Merchant Service Provider (ISO/MSP) of HSBC Bank USA, and is currently the fastest growing provider of electronic payment processing equipment and merchant processing services in the country.Details
MD-based Kaulkin Ginsberg has hired Jamie Welsh, formerly with Garnet Capital Advisors, as Director. Jamie will work closely with the Strategic Advisory and Research Group to advise credit grantor, collection agency, debt buyer, and vendor executives on mergers & acquisitions, valuations, research, executive recruitment, and operational assessments. Kaulkin Ginsberg has provided solutions to accounts receivable management and related business services companies. The Strategic Advisory Group provides merger, acquisition, and valuation advice; operational consulting; and executive search services.Details
Oberthur Card Systems reported that during the second quarter revenues increased slightly to 122.9 million euros. 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 21.9 million euros, 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 21.6 million euros, a 16.7% increase year-on-year. For complete details on Oberthur’s second quarter performance, visit CardData (www.carddata.com).
PA-based USA Technologies has been issued another “e-Port” patent covering credit card approval, item selection, price and inventory management, whether wired or wireless. The latest e-Port patent, number 7,076,329 for Cashless Vending Transaction Management by a Vend Assist Mode of Operation, comes after USA Technologies signed an historic contract with MasterCard to deploy the first 1000 cashless vending machines equipped with the e-Port Generation Six transaction device. USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management.Details
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]).
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.Details
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.Details
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.Details
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.Details