The Smart Card Alliance has launched an online “Smart Card Career Center” to help companies recruit qualified professionals and to help individuals find jobs in the growing smart card industry. For job seekers, resources include advanced job searching options; increased exposure to smart card industry leaders; optional email alerts of new jobs; a saved jobs function; relocation services from Interactive Moves; and MyW2 services for contract professionals. Job seekers can post resumes for free and there is no membership requirement.Details
NJ-based Asta Funding reported that net income for the first increased 52% to $11.1 million. Revenues for the quarter were $24.8 million, an increase of 49% compared to one-year ago. Net collections from consumer receivables acquired for liquidation was $55.6 million, up 32% from $42.2 million in the prior year’s quarter. Asta’s purchases for the quarter amounted to $351.2 million of face value receivables for a purchase price of $18.8 million. For complete details on Asta Funding’s latest results, visit CardData ([www.carddata.com]).
First Data Healthcare Services and Medem have introduced a new personal health service and card that combines the “iHealth” personal health record with all payer health plan eligibility verification and a healthcare debit card. For employers, TPAs and health plans the new iHealthCard allows them to provide a single card to consumers that help them better manage their care. For physicians, hospitals, clinics and other providers the iHealthCard allows them to distribute a branded personal health card to patients that links to their iHealth Personal Health Record (PHR) and allows for automated eligibility when the patient is seen at their facilities or offices. First Data Healthcare Services offers a multipurpose card that provides access to HSA, HRA and FSA accounts and line of credit, along with eligibility, benefit and claims data.Details
MI-based Asset Acceptance Capital posted a 2% increase in first quarter revenue of $67.4 million, compared with the first quarter of 2005. Net income for the quarter was $12.6 million, compared with a net income of $15.1 million for 1Q/05. During the first quarter, the Company invested $26.9 million to purchase consumer debt portfolios with a face value of $738.7 million, representing a blended rate of 3.64% of face value. On April 28th, Asset announced a definitive agreement to acquire the capital stock of privately-held Premium Asset Recovery Corp. of Deerfield Beach, Florida and related agreements for approximately $16.5 million in cash. For more details on Asset Acceptance Capital’s first quarter performance, visit CardData ([www.carddata.com]).
Trintech Group says its “PayWare DisputeAdvisor” is dramatically cutting the costs of handling chargebacks. The dispute resolution tool is designed to resolve most disputes on the first call. Trintech says in one typical case it found that up to 60% of calls were being passed to dispute experts for evaluation but of those 60% only 20% resulted in genuine chargebacks. “PayWare DisputeAdvisor” is built to capture specialized card regulations and reflect a bank’s interpretation of the rules. Its advantage is that it deploys on multiple platforms and can be seamlessly integrated into existing front- and back-office systems without the bank having to restructure its technical architecture.Details
TNS has established a new point-of-presence in Hamilton, Bermuda, offering local companies access to TNS’ fully managed proprietary IP network, the “Secure Trading Extranet” to offer global companies connectivity to Bermuda’s extensive financial and insurance markets. TNS’ presence in Bermuda is part of the company’s plans for expansion internationally. In the past 12 months, it has established operations in northern, central and Eastern Europe, expanded its network from 70 to 96 points of presence, and increased its network coverage to 28 countries in North America, Europe and the Asia Pacific region.Details
Global Cash Access has launched a new private label credit card for the gaming environment that eliminates cash advance problems for patrons and reduces merchant fees for itself. The new “Arriva Card” offers credit limits up to $50,000 which can be fully accessed via GCA ATMs. GCA also offers a grace period on cash advances, something rare in the general purpose credit card market. Additionally, GCA says fees for cash advances are lower than those charged by major issuers. GCA estimates that 40% of cash advances on the casino floor are turned down, usually because many issuers limit cash advances to 20% or 25% of the available credit line. The card also offers loyalty points that can be redeemed for cash back on the gaming floor, VIP experiences and special travel, entertainment, products and services. Arriva Card, Inc., a wholly owned subsidiary of GCA, will market the card. CIT Bank will issue the cards and fund the receivables.Details
LUUP, the first payment system specifically for mobiles, has launched
in both the UK and Germany. “LUUP” (called LUUPAY in Germany) allows
consumers to use their mobile phone like a wallet to shop with retailers
or send and receive money on a person-to-person basis – with cash,
debit/credit card and bank account functions built-in. “LUUP” is
designed specifically for mobile phone use and is fully independent of
mobile phone operators. “LUUP” is fully integrated with the UK and
German banking systems, allowing funds to be accessed from credit cards,
debit cards and bank accounts. Mobile content merchant partners benefit
from low transaction fees for higher revenues and increased margins.
With “LUUP,” merchants typically pay under 10% transaction fees compared
to the premium SMS operator fees which are normally in excess of 25%.
Esmertec and INSIDE Contactless are collaborating to develop and deliver near field communications (NFC) solutions to mobile devices and chipset manufacturers. Combining INSIDE’s NFC-enabled chipsets with Esmertec’s Java software and TL’s secure middleware will enable the companies to deliver a complete contactless solution for mobile devices. The companies also announced that they will jointly promote the fully integrated solution to their combined customer base. INSIDE Contactless is a fabless semiconductor provider. Esmertec is a provider of software solutions and services.Details
The State of Georgia has renewed its fuel card contract for five years with Wright Express. The Wright Express card provides the State of Georgia with a network of accepting sites as well as customized reporting and control tools that afford the State access to more in-depth, fleet-specific data than is widely available from other sources. This information allows Wright Express to offer the State highly customized transaction data and analysis tools that can be used to improve operational efficiencies and reduce costs.Details
MA-based Lightbridge reported first quarter revenue of $26.5 million, a decrease of 2% compared to the prior year due to lower revenue from Telecom Decisioning Services clients. Net income was $1.6 million, versus a loss of $1.1 million for the comparable period of 2005. Authorize.Net revenue for the first quarter was a record $13.5 million, an increase of 33% over 1Q/05. Authorize.Net processed a record $7.2 billion of merchant transactions in the first quarter, up 37% year-on-year. The number of transactions processed in the first quarter increased to a record 72.8 million, a 30% increase over the comparable quarter last year. Nearly 16,000 new merchants were added in the quarter. Active Merchants as of March 31st were a record 142,000, up 20% over the prior year. The Company anticipates revenue for the second quarter to be in the range of $24.8 million to $26.5 million. For complete details on Lightbridge’s latest results visit CardData ([www.carddata.com]).