Authorize.Net Revenue Jumps 33% Y/Y

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][1]).

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

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BRP Renews its GECF Contract

Recreational vehicle specialist BRP has renewed its contract with GE Consumer Finance to provide revolving and installment financing to customers at BRP dealerships including the “BRP Card.” Under the agreement, BRP dealers also maintain access to AdvanceDesk, GE Consumer Finance’s Web-based finance management system. By logging on to www.advancedesk.com, BRP dealers can submit loan applications, check loan status and print financing documents, all from a PC in their office or showroom. GE Consumer Finance provides revolving financing through the BRP Card, as well as installment lending under the BRP Retail Finance Program, for all BRP products, including Ski-Doo snowmobiles, Sea-Doo watercraft and sport boats, ATVs, and outboard engines.

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Trintech Introduces PayWare DisputeAdvisor

Trintech has introduced “PayWare DisputeAdvisor,” an intelligent dispute resolution tool, in order to change the way customer disputes are handled to reduce call handling times. “PayWare DisputeAdvisor” is built to capture specialized card scheme 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. Trintech is a provider of transaction management and payment infrastructure solutions to financial institutions, payment processors, enterprise retailers and network operators globally.

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Coinstar to Acquire Travelex Money Transfer

London-based Travelex Money Transfer is being sold to Washington-based Coinstar for approximately $27 million in cash. TMT is the third largest money transfer network in terms of agent locations and countries, with more than 17,000 locations in 138 countries. Its primary send markets are the U.K., France and Italy. TMT is privately owned and is a wholly-owned subsidiary of Travelex Ltd. TMT’s revenues for 2005 were $5.8 million with a negative EBITDA of approximately $10.4 million. After closing, TMT will continue to operate independently as a wholly-owned subsidiary of Coinstar. Mohit Davar will continue to lead TMT. Coinstar recently reported $126 million in first quarter revenue, a 19.3% increase over the year-ago quarter.

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ORCC to Acquire Princeton eCom for $180MM

VA-based Online Resources Corporation is acquiring biller service provider Princeton eCom Corporation for $180 million cash. Tennenbaum Capital Partners will make a total investment of $160 million in Online Resources to facilitate the deal. After the transaction Tennenbaum will hold 14% of the Company and will join ORCC’s Board of Directors. Ronald Averett, Princeton eCom’s CEO, will head the combined companies’ e-commerce business, including Princeton eCom’s BSP and Online Resources’ card, credit and real-time payments services. The combined company expects to process over 200 million transactions representing $75 billion in bill payments over the next year. The combined company will serve 2,200 financial institutions and 1,600 billers.

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HomeATM Secures Financing

HomeATM has closed a Mezzanine financing round. The capital raise was led by one of the founders of Mamma.com. The company now owns one issued patent and has six patents pending. Mamma.com co-founder Michael Kron spearheaded the financing in order to acquire intellectual property rights in the person-to-person money transfer business from BioBank LLC. The move is perceived to be a step towards strengthening the company to attract an institutional financing round in anticipation of an IPO. HomeATM was formed by a group of senior payment industry experts and Internet entrepreneurs.

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25% of Hispanics Shop with a Debit Card

Unilever’s “Hispanic Shopping Trip Study” shows that more than half surveyed use cash, 25% used a debit card, 11% paid with a credit card and only 2% paid by check. The study entitled “Winning the Hispanic Shopping Trip,” examined the actual Hispanic shopper’s activities, reviewing more than 3,600 diaries and store receipts. This is a departure from the traditional methodology of “Q&A” techniques as the diaries and receipts serve to further verify consumer responses to questionnaires.

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75% of Biz Owners Absorb Rising Gas Prices

American Express released its “Small Business Monitor” survey which shows that nearly 75% of small business owners are absorbing higher energy costs for now. Fewer respondents see growth opportunities over the next six months (68%, down from 85% a year ago), half of respondents are planning to cut business expenses (51%), and others will cut personal expenses (44%) However, despite the challenges of running a business, 44% of small business owners say they love what they do and “cannot imagine” making a living any other way.

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Comdata Acquires Gift Card Solutions

Comdata, through its subsidiary Stored Value Systems, has acquired Salt Lake City-based SASH Management d/b/a Gift Card Solutions. In 2002, Comdata joined into a strategic arrangement with GCS to service the mid market gift and loyalty segments. Throughout this alliance, SVS and GCS have worked together to provide gift card solutions to over 100 restaurant chains and retailers. As a result of this acquisition, existing customers will be able to further benefit from added value services such as credit card processing. Comdata is a business-to-business issuer and processor of payment cards.

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Lipman’s Net Income Rises 25% Over 1Q/05

Rosh Haayin-based Lipman Electronic Engineering reported revenues of
$57.6 million, a 6.3% increase over the year ago quarter.
However, excluding revenues from its Dione subsidiary, Lipman’s revenues
in the first quarter increased 22.6% compared to 1Q/05. Net income for
the quarter was $6.6 million, compared to net income of $5.3 million in
the first quarter of 2005. During the first quarter, Lipman received a
$3.2 million follow-on order for its “Dione Secura” PIN Entry Devices
from a leading Mexican bank. Recently, Lipman and Verifone entered into
a definitive agreement for VeriFone to acquire Lipman in a transaction
valued at $793 million, based on VeriFone’s share price at the close of
trading on April 7th. The acquisition is expected to close by October
31st. For more details on Lipman’s latest results, visit CardData (www.carddata.com).

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iMAX Slashes Payment Terminal Prices

Denver-based iMAX Business Solutions is offering Verifone, Hypercom, and Nurit credit card terminals at wholesale prices. The company has in stock and ready for immediate delivery the most popular credit card terminals including Verifone, Hypercom, and Nurit, starting at $99.00. Also available is the Nurit 8000 wireless credit card terminal for $749.00, which includes the wireless sim card. iMAX Business Solutions is the largest distributor and marketer of credit card machines on the Internet.

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