Euronet 1Q/03

Euronet Worldwide reported revenues of $33.1 million for first quarter compared to $17.0 million for 1Q/02. The quarter included the sale of Euronet’s U.K. network and its acquisition of e-pay Limited. e-pay contributed $17.4 million in revenues for the quarter. Net income for the first quarter was $15.4 million. The EFT Processing segment posted first quarter revenues of $11.9 million. The EFT Processing segment processed 23.4 million transactions in the first quarter compared to 15.6 million transactions for the same period last year. The segment completed the quarter with 2,994 ATMs owned or operated, compared to 2,548 ATMs at the end of the first quarter of last year. Euronet owns and/or operates ATMs in Hungary, Poland, Germany, Croatia, the Czech Republic, U.K., Greece, Kosovo and Egypt. The Prepaid Processing segment reported first quarter 2003 revenues of $17.4 million and operating income of $1.5 million, reflecting the operating results of e-pay from the beginning of February 2003 through the end of the quarter. For complete details on Euronet’s 1Q/03 performance visit CardData ([www.carddata.com][1]).

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

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TSAI 1Q/03

Transaction Systems Architects reported revenue for the first three months of this year of $69.3 million, a 3% decline over the year-ago quarter. However net income declined 41%, from $6.8 million to $4.0 million during the same period. During the quarter, ACI Worldwide, the Company’s largest business unit signed a U.S. based card processor for its “BASE24-es” and “ACI Payments Manager”. Also, a top 500 financial institution in Spain selected “ACI Proactive Risk Manager” for debit card fraud and a financial institution in Turkey selected “ACI Proactive Risk Manager” for credit card and merchant fraud. The Company completed the second quarter of fiscal 2003 with $233.1 million in backlog, consisting of $162.4 million in recurring revenue backlog and $70.7 million in non-recurring revenue backlog. For complete details on TSAI’s 1Q/03 performance visit CardData ([www.carddata.com][1]).

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

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Your Reward

American Express has introduced a new feature to its “Membership Rewards” program that, for the first time, allows enrollees to create their own unique redemption packages. Under the “Your Reward” program, cardholders call a toll-free redemption line and are connected with a concierge specialist who will make suggestions, provide advice, research options, and make all arrangements for the reward that fits the cardholder’s point balance. Some of the ready-made “Your Reward” redemption packages include season tickets for two to big league baseball for 950,000 points; three-day polo instruction from a world renowned player, at a beautiful polo club in Palm Springs, California for 180,000 points; and a personal chef, who will teach expert food preparation techniques and make a meal of a lifetime for up to nine people for 95,000 points. The “Membership Rewards” program is the world’s largest card-based rewards program, with more than 4 million U.S. enrollees and more than 9 million worldwide.

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Family Account

MasterCard’s new “Family Account MasterCard” has found its first issuer. El Paso, TX-based GECU has launched the “GECU Family Account Credit MasterCard Card.” The new card features a family credit line with individual credit cards and customized spending limits for each adult family member. The primary accountholder may set and change the spending limits. The “Family Account” will also include cash access to ATMs and monthly-itemized statements. GECU is offering the card with no annual fee. Gold cards offer an APR of 9.9% and standard cards carry a 12.5% APR. In November, MasterCard and Texas-based Town North Bank/TNB Card Services teamed to offer the “MasterCard Family Account” in 2003. (CF Library 11/7/03).

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OBERTHUR 1Q/03

Oberthur Card Systems reported that sales for the first quarter, a
traditionally weak quarter, reached 103.8 million Euros, a slight increase
over 1Q/02. Nearly 29 million smart cards were shipped during the quarter,
a 39% gain over the year-ago quarter. Compared to 1Q/02, smart card sales
increased by 10.8% as a result of both a
volume increase, and a 20.5% average selling price decline. Banking smart
cards shipments have increased by 26.9% on a year-on-year basis, totaling
11 million cards delivered. Oberthur says growth in this segment came
essentially from the UKIS migration program currently taking place in the
United Kingdom. Sales of SIM cards hit 13.4 million cards for the first
quarter, a 28.5% gain on a year-on-year basis.

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Concord 1Q/03

Concord EFS reported that despite seasonal downshifts, first quarter revenue was up 23% to $520 million on transaction growth of 22%. Concord says “STAR” PIN-debit transactions increased 22% during the quarter for Network Services, and 30% for Payment Services. Network Services overall transactions grew 16% in the quarter. Network Services revenue increased 7% over 1Q/02, to $155.0 million. Payment Services revenue increased 32% to $364.8 million on transaction volume growth of 31% in the first quarter. Payment Services revenue includes interchange fees of $231.3 million and $159.9 million for first quarter 2003 and 2002, respectively. Payment Services currently provides payment processing services for approximately 417,000 merchant locations, including just over 16,000 quick service restaurant locations. The “STAR” network currently has approximately 127.4 million cards issued by 6,220 financial institutions and approximately 1,244,000 ATM and point of sale locations that display the “STAR” mark. The company also added net 1,431 ATMs to its ATM processing business during the first quarter, bringing total ATMs processed to just over 96,500. For complete details on Concord’s 1Q/03 results visit CardData ([www.carddata.com][1]).

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

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