NCR has named Gary Daichendt, a former Cisco Systems executive, to its board of directors. Daichendt served as executive vice president of Cisco Worldwide Operations with global responsibility for sales, distribution, manufacturing and strategic alliances. Before joining Cisco, Daichendt spent eight years at Wang Laboratories in positions of increasing responsibility, the majority as vice president of the company’s central operations and vice president of worldwide marketing. He holds a master of science degree in mathematics from Ohio State University and a bachelor of arts degree in mathematics from Youngstown State University.Details
VA-based Portfolio Recovery Associates reported net income of $10.7 million for the first quarter, about 20% higher than one-year ago. Total revenue increased 27% to $45.3 million for the quarter. The Company purchased $3.87 billion of face-value debt during the first quarter for $16.2 million. Cash collections rose 22% to $58.5 million in the quarter. The Company also noted that it repaid the $15 million that had been outstanding on a line of credit at year-end 2005. For complete details on Portfolio Recovery Associates latest performance, visit CardData ([www.carddata.com]).
A new survey shows that 70% of consumers worldwide support using biometrics technologies to verify their identity. The research by Unisys also found that 66% of consumers worldwide favored biometrics as the ideal method to combat fraud and identity theft as compared to other methods such as smart cards and tokens. More than 80% cited convenience as the top reason for preferring biometrics. Voice recognition was the most favored authentication method, cited by 32% of respondents, followed by fingerprints (27%), facial scan (20%), hand geometry (12%) and iris scans (10%). North Americans were significantly less supportive of facial scans compared to other regions, with only 10% citing it as the preferred method.Details
Electronic payments provider Euronet Worldwide posted revenues of $147.0 million for the first quarter, a 25% jump over 1Q/05. Net income more than doubled to $9.4 million, compared to one-year ago and expanded by 11% sequentially. The EFT Processing Segment posted first quarter revenues of $29.9 million, a 25% gain over the first quarter of last year. The EFT Processing Segment processed 103.1 million transactions in the first quarter compared to 77.3 million transactions for 1Q/05. The segment completed the quarter with 7,613 ATMs owned or operated, compared to 6,201 ATMs at the end of the first quarter 2005. The Prepaid Processing Segment reported 1Q/06 revenues of $111.0 million, a 24% increase over the year-ago quarter. Total transactions processed by the Prepaid Processing Segment in the first quarter were 96.4 million, compared to 67.2 million prepaid transactions processed in 1Q/05. The Prepaid Processing Segment processes electronic point-of-sale prepaid transactions at more than 242,000 point-of-sale terminals across more than 134,000 retailers in Europe, Asia Pacific and the USA. For complete details on Euronet’s first quarter performance, visit CardData ([www.carddata.com]).
The Bargain! Shop has selected Trintech’s “ReconNET” to automate the
verification and reconciliation of its cash, checks, debit and credit
cards, and disbursements to enable The Bargain! Shop to manage complex
transactions efficiently and reduce opportunities for error. The
Bargain! Shop Holdings operates over 145 general merchandise retail stores across Canada. Trintech Group is a provider of transaction reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally.
RSA Security this week acquired privately-held PassMark Security for $44.7 million. PassMark’s solutions include a two-factor authentication solution that authenticates each user to a Web site based on a password and specific positive device forensics and at the same time authenticates the site to the user with visual images. PassMark also offers a voice-based biometric authentication system. The deal includes $9.0 million in cash and the issuance of approximately 2.0 million shares of RSA Security stock. RSA also appointed PassMark co-founder Bill Harris to its board.Details
Next week, NCR will introduce two-sided thermal receipt printing. The first new products include the industry’s only two-sided POS receipt printer, the “NCR RealPOS 7168,” and NCR two-sided thermal receipt paper. The printer can print in combinations of black on one side of the receipt with black, red or blue on the other side with no additional cost for the paper or the printer. The Company is also offering technology licenses to other printer and paper manufacturers. NCR says its product will be available in the third quarter of this year.Details
Datacard Group has introduced the “MX6000” card issuance system which offers a highly modular platform that includes enhanced color printing technology, high-speed laser engraving, high-speed smart card personalization and powerful data security. Datacard Group offers secure ID and card personalization solutions.Details
First Data International announced that Shanghai-based Cetelem Processing Services
has signed an agreement to use First Data’s “VisionPLUS” processing
solutions. Under the terms of the agreement, First Data will provide
its processing solutions to supplement Cetelem’s specialized proprietary
systems designed for its alliance partners engaging in consumer lending
such as credit cards including China Unionpay cards, Visa and MasterCard
services and unsecured and installment loans. First Data will leverage
VisionPLUS as a comprehensive solution to support Cetelem’s credit
cards, consumer loans and related processing needs. In 2002, First Data
International established a presence in China with
the launch of its Shanghai data center. The company now serves 13
clients throughout the region. Cetelem is a provider of financial
institution in consumer finance in with a presence in more than 20
Scotiabank’s Global Transaction Banking unit has launched the “Wholesale Investment Account” and “Commercial Card” program. The “Wholesale Investment Account” is a high-yield savings account that incurs no fund management fees or administrative expenses. The Wholesale Investment Account is targeted to business clients with US $20-million or more in deposits, who invest their funds for periods of at least 30-days. The account will offer a competitive return on surplus cash and will maximize short term investment yields. In addition to new investment options, VISA U.S.A.
Inc. has recently given Scotiabank approval to offer its successful
Commercial Card expense management program to both U.S.-based multinational clients and domestic-only U.S. corporate accounts.
Business card specialist Advanta posted a 17% rise in managed outstandings during the first quarter to nearly $3.9 billion. Advanta’s Business Card unit earned net income of $21.7 million as compared to $11.2 million for first quarter 2005. During the first quarter, Advanta opened 82,617 business card accounts and ended the quarter with 921,841 gross accounts. About 70% of the accounts were active. Transaction volume increased 26% to $2.7 billion during the first quarter. Charge-offs plummeted from 6.68% in the fourth quarter to 3.62% for the first quarter. Over 30 day delinquencies on managed receivables declined five basis points to 2.91% and over 90 day delinquencies on managed receivables decreased seven basis points to 1.29%, compared to the first quarter of last year. For complete details on Advanta’s first quarter performance, visit CardData ([www.carddata.com]).
ADVANTA’S CARD PORTFOLIO SNAPSHOT
Period Card Loans
1Q/05: $3.35 billion
2Q/05: $3.51 billion
3Q/05: $3.60 billion
4Q/05: $3.76 billion
1Q/06: $3.89 billion
Source: CardData (www.carddata.com)
Oberthur Card Systems reported that during the first quarter the company delivered more than 56 million smart cards a 29.4% increase compared to the year-ago quarter. However, in the payment cards market the number of card delivered declined 18% due to the end of the “chip & PIN” program in the UK. Sales of payment cards amounted to 24.7 million euros, a 23.4% decrease. Oberthur also notes that the contactless payment card segment continues to develop favorably in the first quarter with deliveries of several million units, driven by large-scale deployments in North America. Sales of magnetic stripe cards, scratch cards and memory cards slipped 5% year-on-year to 20.6 million euros. Overall, Oberthur posted record first quarter revenue of 121.9 million euros, topping records set in the first and second quarter of last year.
For complete details on Oberthur’s first quarter performance, visit CardData (www.carddata.com).