InteliData Technologies Revenues Slip in Q3

VA-based InteliData Technologies reported revenues for the third quarter of $3.6 million, a decrease of $1.1 million from 3Q/03. Gross profit for the three-month period totaled $2.2 million compared to $2.8 million in the year ago period. The Company says it is continuing to explore strategic alternatives, including the generation of additional capital to sustain its development efforts to produce leading edge technologies and to increase customer confidence. InteliData provides online banking and electronic bill payment and presentment technologies and services to banks, credit unions, financial institution processors and credit card issuers. For complete details on InteliData’s 3Q/04 performance visit CardData ([www.carddata.com][1]).

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

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Processor Fined for Handling Deceptive Offers

First American Payment Processing has been banned from processing any payments for outbound telemarketers as part of a settlement with the FTC. The company was also ordered to pay $1.6 million in redress. In January, the FTC filed a complaint in federal district court against First American Payment Processing, CET Corporation, and Check Processing Center, alleging that they knowingly processed electronic payments for telemarketers who deceptively sold advance-fee credit cards or who engaged in other deceptive or abusive telemarketing practices.

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iPayment Revenues Up 56% in the Third Quarter

Nashville-based iPayment reported third quarter revenues of $93.4 million an increase of 56% for the third quarter of 2003. Net income for the third quarter increased to $6.4 million, from $5.1 million for 3Q/03. Charge volume increased to $3.3 billion in the third quarter from $1.7 billion in the third quarter of last year. During September the Company purchased a small portfolio of approximately 1,000 retail merchants with annualized charge volume over $150 million. Processing costs per transaction have averaged $0.18 during 2004, down from $0.21 during 2003. iPayment is a provider of credit and debit card-based payment processing services to over 100,000 small merchants in the USA. For complete details on iPayment’s 3Q/04 performance visit CardData ([www.carddata.com][1]).

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

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Cap One Enters the UK Home Equity Market

Capital One has signed a definitive agreement to privately held HFS Group, a major home equity loan broker in the UK. Cap One will pay $117 million in cash. HFS originated a volume of approximately 15,000 loans, with a value of approximately $630 million in the twelve months ending March 31st. Cap One has about four million credit cardholders in the UK. The acquisition is part of Cap One’s plans to diversify its business beyond the mature credit card market. In September, Capital One acquired Onyx Acceptance Corporation, a major auto loan originator, for $191 million in cash. (CF Library 9/22/04)

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Datacard’s Maxsys Card System Gets Smarter

Datacard Group has added new features to its “Maxsys” card issuance system. Datacard has integrated a host of intelligent features into the supply products for the “Maxsys” system. Major enhancements have also been made to the user interface of the “Maxsys” system to ensure that the system integrates easily into card issuance operations without burdening operators with a significant learning curve or training. In addition to the easy-to-use interface, all screens and error messages are now available in a variety of languages including English, French, German and Japanese with additional languages to follow.

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VISA Plans for a Mini Chip Card

VISA Europe unveiled plans to issue a miniature EMV smart card. The new “VISA Mini Chip Card” can be issued on a credit, debit, or prepaid platform and also has the flexibility to be issued as any VISA product including “VISA Gold” and “VISA Electron.” Due to its compact size, the “VISA Mini Chip Card” cannot be used at ATMs. The card has an optional perforated hole in one corner. VISA launched its magnetic stripe “VISA Mini” card in 2002 and now issued about 25 million since then, the majority in the USA.

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MasterCard Global GDV Rises 10%

MasterCard International reported third quarter worldwide gross dollar volume (purchases + cash ) of $365.9 billion, an increase of 10% over the third quarter of last year. Total purchases on MasterCard credit and offline debit cards increased 11.1% for the third quarter, as the number of MasterCard cards issued worldwide rose to 656 million.
For the nine months ended September 30th, MasterCard GDV totaled $1.0 trillion, up 9.5% over the same period a year ago. Globally, purchase volume rose 11.1% to $266.8 billion for the third quarter compared to the same period in 2003. In the nine months ended September 30, purchase volume rose 12.2%.

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