Hypercom and SiVault Systems have teamed to combine SiVault Systems’ end-to-end signature verification technology with Hypercom’s point-of-transaction card payment technology to improve the authentication and fulfillment of medical prescriptions. Deployment of the Hypercom-SiVault solution will give pharmacy operations, doctors and insurers a powerful new solution to help confirm the authorized fulfillment of prescriptions, and in doing so, help stem prescription fraud in a rapidly expanding market. SiVault Systems is a recognized leader in the secure storage and retrieval of signed documents and biometric signature-based authentication for processing of online transactions. Hypercom is a leading global provider of electronic payment solutions that add value at point-of-sale transactions for consumers, merchants, and acquirers, and yield increased profitability for its customers.Details
Tidel Technologies’s “Encrypting PIN Pad” used in the Company’s “3000 Series” ATM products has been certified for VISA “PED”. Tidel Technologies, Inc. is a manufacturer of automated teller machines and cash security equipment designed for specialty retail marketers.Details
Electronic Clearing House reported that its total revenue for the second calendar quarter was up 14.9% to $12.2 million as net income doubled to $651,000. Bankcard processing and transaction revenue increased 8.2% to $9.3 million in the quarter. ACH transactions processed nearly doubled to 6 million transactions. The gross margin from processing and transaction revenue improved to 37.1% from 32.2% one-year ago. During the quarter, ECHO trained VISA member banks’ sales teams and associates on the “Visa POS Check” program’s numerous merchant benefits. The Company has rolled out the program at Cole National Corporation’s Pearle Vision and Things Remembered chains, with a total of 1,200 locations running on the system. For the fiscal year to end with the next quarter, the Company tightened its guidance on revenue growth to 16-20%. For complete details on ECHO’s latest performance visit CardData ([www.carddata.com]).
OR-based TRM Corporation reported that net income for the second quarter more than doubled to $2.7 million as revenues increased 18% to $24.4 million. During the second quarter ATM gross sales increased by 47.5% to exceed $15.4 million and transacting ATMs grew to 4,616, an increase of 1,343 units over the prior year. TRM reports that total withdrawal transactions increased from 7.3 million to 9.2 million; average withdrawals per ATM increased from 386 to 399; and, average sales per withdrawal increased 12%, from $2.50 to $2.81. At mid-year, the Company’s ATM network consisted of 4,616 units deployed in the UK, USA, Canada and Northern Ireland. For complete details on TRM’s latest performance visit CardData ([www.carddata.com]).
VeriFone has hired Dale Laszig, former VP/Sales at Hypercom, as a Senior Sales Representative, and Rhonda Walsh, formerly with Delta Card and MCCS, as a Sales Trainer. Prior to Laszig six years with Hypercom she spent two years with Thales North America and seven years with First Data as a sales development specialist and national trainer. Walsh brings a whole new element to the knowledge base of the VeriFone ISO sales and training team. VeriFone, Inc., recognized worldwide as the trusted leader in secure electronic payment technologies, provides expertise, solutions and services for today with a smart migration strategy for tomorrow.Details
Macoto Bank and Japan Asia Airways, a subsidiary of Japan
Airlines Corporation, have teamed to launch a co-branded JCB international credit card. The new “JAA/JCB Card” enables cardholders to earn mileage rewards that they may exchange for ticket awards with JAL Group and other partner airlines, upgrade awards on JAL Group flights, free hotel accommodation awards, a 10% discount for in-flight purchases on JAL Group international flights, and many other premiums. Macoto Bank says its target market for the new card is approximately 9 million
in Taiwan, and it anticipates issuance of more than 30,000 cards
in the first year. JAA was established in 1975 to operate between Japan and Taiwan, after JAL agreed to stop its services to Taiwan in exchange for the right to fly to mainland China. JCB has formed alliances
with more than 320 financial institutions globally to increase merchant coverage and cardholder base.
Atlanta-based Certegy has closed its deal to purchase the assets of Caribbean CariCard Services for $7 million in cash. Certegy provides credit and debit processing, check risk management and check cashing services, merchant processing and e-banking services to over 6,500 financial institutions, 117,000 retailers and 100 million consumers worldwide.Details
NJ-based Heartland Payment Systems has filed a registration statement with the SEC for a IPO. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Heartland Payment Systems Inc. is a leading provider of bank card-based payment processing services to merchants in the United States and, according to The Nilson Report, in 2003 was the eighth largest card acquirer in the United States ranked by processing volume.Details
Equitex/Denaris have signed a non-binding letter of intent with UT-based Financial Freedom International to distribute stored value card and payroll card products. Financial Freedom International is a provider of educational materials, software and services to consumers with troubled debt. Their products and services help people in financial crisis avoid bankruptcy, improve credit rating and reduce their debt to manageable levels. Equitex, Inc. is a holding company operating through its majority owned, publicly traded subsidiary FastFunds Financial Corporation of Minnetonka, Minnesota, as well as its majority owned subsidiary Denaris Corporation.Details
OH-based The Huntington National Bank has signed a multi-year agreement with Transaction Network Services for always-on, managed ATM network connectivity. Under the multi-year agreement, Huntington National Bank will use TNS TransXpress(R) Secure to support its ATM portfolio. The Huntington National Bank is the principal subsidiary of Huntington Bancshares Incorporated , a $31 billion regional bank holding company. Transaction Network Services is one of the leading providers of business-critical, cost-effective data communications services for transaction-oriented applications.Details
Diebold and First Data announced they are certifying their new “Interactive Financial eXchange” for ATMs. IFX is an XML-based message protocol, which can become the communication standard across a financial institution’s delivery channels. Because IFX fosters interoperability among banking systems, it’s capable of providing another layer of openness within the realm of financial service solutions. First Data also offers a variety of payment services to businesses around the world. Diebold, Incorporated is a global leader in providing integrated self- service delivery systems, security and services.Details
A new study has found that two out of every three companies with annual revenues exceeding $500 million now use some form of “Electronic Invoicing Presentment and Payment” system. The “B2B Spend Management Survey,” jointly sponsored by MasterCard and Ariba, also found that 66% of respondents currently use some form of EIPP; 62% rely on such technology to make electronic payments to suppliers; and, 35% use the technology to receive payments from customers. More than half the respondents cited the reduced processing time and resulting lower costs as the primary benefits of using EIPP. The research revealed th at despite the growing utilization and popularity of EIPP, barriers to its adoption still persist. Survey respondents cited cost (25%), complexity (22%), and aversion to making changes to their IT systems (19%) as the top reasons for not deploying an EIPP system. Nevertheless, MasterCard believes eight out of 10 respondents from companies that don’t currently have EIPP are planning to implement it within the next two years.Details