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.

Details

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.

Details

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.

Details

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.

Details

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.

Details

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.

Details

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.

Details

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).

Details

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.

Details

Heartland Payment’s Profit Soars 63%

NJ-based Heartland Payment Systems’ first quarter net income soared 63% over 1Q/06 driven by a 34% increase in processing volume, despite the seasonally slow nature of the first quarter. The processor also posted record revenues of $236.8 million for the first quarter, increasing 39% over 1Q/05. The Company’s active card processing merchant count rose to 116,400 as of March 31st, a 24% increase over the past twelve months. The Company noted that on the front end, 76% of new merchants installed and 59% of total transactions processed in 1Q/06 were on “HPS Exchange.” The conversion of its merchants to “Passport” reached the 97% mark on May 1st. During the quarter, HPS made a strategic investment in Parcxmart Technologies. The Company also acquired Chattanooga-based Debitek. The Company also recently broke ground on a new service center in Jeffersonville, Indiana with a staff of 320. For complete details on Heartland Payment Systems’ first quarter results, visit CardData ([www.carddata.com][1]). (CF Library 1/27/06; 2/13/06; 4/11/06)

HPS REVENUES
1Q/05: $170 million
2Q/05: $210 million
3Q/05: $228 million
4Q/05: $227 million
1Q/06: $237 million
Source: CardData (www.carddata.com).

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

Details

E-PAYMENTS FORECAST

A new study predicts that electronic retail payments will rise from 179 billion this year to 260 billion in 2009. All forms of electronic payments are expected to grow at a compound annual growth rate of 12.9% between 2004 and 2009. The research by Global Insight for
ACI Worldwide, says that volumes for electronic payments are expected to double across the world, with China and India doubling more quickly at a rate of every three and four years, respectively. Conversely, the use of checks as a form of payment is forecast to continue its decline; as measured in 2004, approximately 20% of non-cash transactions were check-based; in 2009, only 10% of total payments are predicted to be in check form. The Eastern Europe and Asia/Pacific regions are forecast to lead the world in electronic payment transaction growth, predicted at 21.6% and 19.2% respectively, for the period of 2004 to 2009.

Details