ID Data Announces Five New Managers

ID Data Systems has appointed John Cooke as Commercial Director, Barry O’Brien
as Chief Technical Director and Marshall Haldane as Operations Director. In
addition, CardBASE Technologies, ID Data’s Irish-based card application
management software businesses, has appointed Pierre Heuze as Development &
Operations Director and Don Stapleton as Sales and Marketing Director. These
appointments follow recent investments by shareholders that have bolstered the
company’s balance sheet by GBP 8.7 million. ID Data Systems provides card
production and services.

Details

CNB to Issue the No Borders STV Card

Central National Bank of Enid, Oklahoma has inked a deal to issue and process the PIN-based No Borders’ prepaid stored value cards for distribution by No Borders to its customers nationwide. The bank issued cards permit PIN based Point of Sale and ATM transactions with value loaded and re-loaded via stored value card load networks, ACH transfers, at participating POS locations. No Borders provided a debit and stored value card platform through which a variety of financial and commercial services and products can be offered to residents of developing countries and to immigrants from those countries who reside in the United States and send money back home on a regular basis

Details

EURONET 3Q/05

Electronic payments provider Euronet Worldwide posted revenues of $137.4 million for the third quarter, a 38% jump over 3Q/04. Net income soared by 70% to $10.2 million, compared to one-year ago, and was triple the income reported for 2Q/05. The EFT Processing Segment posted third quarter revenues of $26.3 million, compared to $20.9 million reported for the third quarter of last year. The EFT Processing Segment processed 94.4 million transactions in the third quarter compared to 70.1 million transactions for 3Q/04. The segment completed the quarter with 6,841 ATMs owned or operated, compared to 5,404 ATMs at the end of the third quarter 2004. The Prepaid Processing Segment reported 3Q/05 revenues of $107.7 million, a 43% increase over the year-ago quarter. Total transactions processed by the Prepaid Processing Segment in the third quarter were 94.6 million, compared to 59.8 million prepaid transactions processed in 3Q/04. The Prepaid Processing Segment processes electronic point-of-sale prepaid transactions at more than 218,000 point-of-sale terminals across more than 109,000 retailers in Europe, Asia Pacific and the USA. For complete details on Euronet’s third quarter performance, visit CardData (www.carddata.com).

Details

CEO’s Job in Jeopardy Over AmEx Charges

The CEO of St. Louis-based SAVVIS, an IT utility services provider, has been placed on an unpaid leave of absence over the nonpayment of charges on an American Express Corporate credit card. Jack M. Finlayson, the company’s President & Chief Operating Officer, has been appointed as Acting Chief Executive Officer. SAVVIS’ Audit Committee is conducting a full investigation into matters relating to a lawsuit brought by American Express and its Chief Executive Officer, Robert A. McCormick, for nonpayment of charges on a corporate credit card issued to the CEO. The company also reiterated that Mr. McCormick did not submit the charges in question to SAVVIS for reimbursement and that SAVVIS has not made any payment to American Express related to the charges. SAVVIS Communications is a global IT utility services provider with an IT services platform that extends to 47 countries.

Details

Meta Financial Promotes STV Card Exec

Iowa-based Meta Financial Group has named Brad Hanson, current president of MetaBank’s prepaid debit card division, as Board Member and EVP. He has a proven track record for creating value and profitability by identifying market opportunities and bringing together experienced management teams focused on balancing strong growth with aggressive expense management. In addition, Hanson was appointed Executive Vice President and member of the Executive Committee for MFG and MetaBank and serves as president of Meta Payment Systems. Meta Financial Group is the holding company for MetaBank, MetaBank West Central and Meta Trust Company and had assets of $776.3 million and shareholders’ equity of $43.0 million, or $17.16 per common share outstanding.

Details

Diebold Net Income Plunges 45% in 3Q/05

Diebold reported that its net income for the third quarter plunged 45% to $26.4 million due to sluggish U.S. sales, installation delays and Hurricane Katrina. ATM sales in the third quarter declined 3% to $194 million. ATM services revenues were off slightly to $217.3 million. Diebold says financial self-service orders were essentially flat for the quarter, with order growth in EMEA well into the double digits offset by a decline in North America. However, product orders for the “Opteva” ATM increased significantly from the third quarter 2004. The Company says it must improve its cost structure by addressing inefficiencies in its manufacturing supply chain and software development processes. Diebold recently named a new COO and CFO and redesigned its organizational alignment. The Company says that full-year financial self-service revenues will most likely grow 1% to 2%. For complete details on Diebold’s third quarter performance, visit CardData ([www.carddata.com][1]).

DIEBOLD FINANCIAL SELF-SERVICE
3Q/04: $200.0 million
4Q/04: $281.3 million
1Q/05: $173.3 million
2Q/05: $221.0 million
3Q/05: $194.2 million
Source: CardData (www.carddata.com)

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

Details

EFMARK Intros Managed ATM Services

Illinois-based EFMARK Premium Armored has launched its “Managed ATM Services” platform. EFMARK’s Managed Services consolidates all ATM services under a single provider so customers can enhance efficiency and cut redundant costs in their ATM networks. EFMARK’s turn-key approach includes everything from complete ATM program management and first and second line maintenance to cleaning, cash management, help desk service, hardware upgrades, supplies and custom screen design. EFMARK Premium Armored is the nation’s largest “ATM only” service company, servicing more than 50,000 ATMs in 42 states.

Details

Citi and FDS Close $3.3B Card Deal

Citigroup confirmed it has completed the first phase of its deal to acquire Federated credit card portfolio. The purchase price included an 11.5% premium on Federated receivables under management of approximately $3.3 billion at closing. Additional Federated receivables, totaling approximately $1.2 billion are expected to be transferred to Citigroup on May 1st. In addition, Citigroup is expected to acquire the approximately $1.8 billion credit card receivables portfolio of The May Department Stores Company, prior to August 30th. The Federated and May credit card portfolios comprise a total of approximately 17 million active accounts. At the end of the third quarter, Citigroup had $25.7 billion in private label credit card outstandings and $114.1 billion in bank credit card outstandings, according to CardData ([www.carddata.com][1]) (CF Library 6/2/05)

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

Details

Meijer Completes Contactless Upgrades

Meijer Stores has completed the in-place updating of thousands of VeriFone “Omni 7000MPD” terminals with modules to accept contactless payment cards in Illinois, Indiana, Kentucky, Michigan and Ohio. The Meijer Platinum MasterCard card combines the features and benefits of the Meijer private label store card with the worldwide acceptance of a MasterCard card and the added functionality of PayPass contactless ‘tap and go’ payments. VeriFone Holdings provides secure electronic payment technologies.

Details

FLEXI-RATE VISA

Barclaycard this week launched a new credit card that charges a lower interest
rate to those customers who pay off a higher proportion of their balance each
month. With the new “Barclaycard Flexi-Rate VISA,” cardholders who clear more
than 10% of their balance will be charged an interest rate of 9.9%, those who
pay the minimum 2.5% are charged 16.9%. People who pay between 5.05% and 9.99%
of their monthly balance will be charged 12.9% interest. The new card was
tested as the “Repayment Rewards” card. Last March, Barclaycard began testing
another credit card to encourage responsible debt management. The “Combinations
VISA” comes with a separate line of credit with a lower interest rate and set
repayment terms. Barclaycard has 11.2 million cardholders in the UK. (CFI
Library 9/22/05)

Details

Card Scammers Settle FTC Charges

A group of U.S. and Canadian telemarketers who targeted consumers with poor credit, offering major credit cards with a $2,500 limit for an advance fee of $197 to $300 have agreed to settle with the FTC. The three Florida corporations and one Canadian corporation agreed to pay $415,000 to settle charges they were selling nonexistent credit cards to U.S. consumers. The firms operated under the names “Royal Credit Solutions,” “Imperial Consumer Services,” and “Beneficial Client Care.” The companies are also subject to a suspended judgment of just over $9 million, the total amount of consumer injury in this case.

Details