PayStar Corporation says it has completed all of its financial filings and has returned to the OTC BB under the symbol PYST. PayStar Corporation, a premier distributor of communications and financial services, provides its customers with an array of enabling devices through PayStar’s Global Virtual Network.Details
Oberthur reported this morning that its net loss for the first half of
this year reached 20.7 million euro compared to a net profit of 200,000
euros one year ago. The smart card manufacturer says profits were affected
by variations in exchange rates (2.2 million euros) and the impact of a
declining stock price on shares owned by the company (2.5 million euros).
However sales revenues were only down 4.7% from 228.2 million euros in the
first half of 2001 versus 217.8 million euros for the first half of this
year. The company noted it has reduced its net debt by 18 million euros
since the first of this year and will cut another 300 jobs. Oberthur says
payment card activity increased by 3% during the first half of 2002, with a
considerable increase in microprocessor cards and personalisation services,
compensating for the slowdown observed in the magnetic cards market. This
segment now represents 52% of the company’s sales revenues, compared with
48% in the first half of 2001.
FL-based InteleTech Corporation has acquired CashMover, Inc. and is moving forward with its “InstaBanc” prepaid debit/value-added card. InstaBanc can now combine the services of an ATM Card, retail purchase card, loyalty card, security card, phone card, bill payment, and money transmittal services to make Stored Value Cards with real value for the medium and low income market.Details
Providian has resurrected its “Aria” credit card brand. In solicitations hitting mail boxes over the past six weeks, Providian is offering the “Aria VISA Platinum” with credit limits as low as $250. In May 1999, Providian launched its “Aria” Internet card brand in response to NextCard. The “Aria” card was part of Providian’s e-commerce intiative which also included GetSmart.com. In February 1995, Providian acquired the WebCard VISA portfolio from H&R Block and GetSmart.com from a group of private investors. According to CardWatch ([www.cardwatch.com]), the new and improved card is offering a 12 month 0% interest rate on purchases and a fixed 9.9% APR on balance transfers. The go-to APR on purchases is a fixed 9.99%. Providian also charges a default rate up to 24.99% and a $35 fee for late payments and over-limits. (CF Library 5/17/99; 11/10/99)
PayPal said this morning it has surpassed the 20 million account holder mark, which is double the number of registered members it had just one year ago. The company also expects that by mid-October more than $10 billion will have been sent by PayPal members through the network since launch of the service in October 1999. As of October 1, 2002, PayPal had 20 million member accounts, including 3.7 million business accounts. More than $3 billion was sent through the PayPal network in the first half of 2002. Tomorrow, PayPal will hold a special meeting of stockholders to vote on the proposed merger with eBay Inc. and Vaquita Acquisition Corp. (CF Library 8/22/02).Details
San Jose-based eBillit says it has won seven new Internet service and content providers as clients in the third quarter and that ISP and content providers are typically increasing their rate of customer acquisition and revenue growth by more than 35% by adopting eBillit’s payment options and end-to-end services. The company’s popular PhoneBill payment solution has been a major driver of revenue optimization and new customer growth. PhoneBill addresses a huge untapped global market opportunity for a practical alternative to credit cards.Details
Chasing small businesses to bank online may be produce less loyalty. A new study found that many entrepreneurs banking online don’t hesitate to chase the best rates for money markets, CDs, payment cards, and a host of other services. The study, by NFO WorldGroup, also found that typically, 81% of small businesses hold all deposits and investments at one financial institution. For those banking online and actively managing cash, that figure plunges to 60%. Only 22% of small businesses report being actively solicited for their excess deposit and investment dollars, leaving them to search online for the best deals. An alarming 78% of small business owners banking online are actively seeking competitive offerings, even if they are perfectly satisfied with their main financial institution. The study revealed that more than three in four small companies are now online, with 25% banking online, more than double the number that were two years ago. The research was conducted among 10,000 U.S based small businesses between May and September 2002.Details
Simon Property Group is expanding its “VISA Gift Card” program to 43 shopping malls with a complete rollout scheduled to all remaining Simon malls next year. During the 12-month pilot program conducted in four Simon malls last year, the company says it experienced a sales increase of more than 60% compared to regular gift certificate sales during the prior 12 months. Simon is also leveraging the “Simon VISA Gift Card” through additional marketing efforts including VISA’s promotion, “Let Me Send you to Hawaii, Mexico or London. My Treat!” Between October 1-31, shoppers at 47 Simon malls will have the chance to use their VISA card to purchase $250 worth of “Simon VISA Gift Cards” and be eligible to receive two free roundtrip airline tickets to Hawaii, Mexico or London. The alliance between Simon and VISA was formed in 1997 in an effort to drive purchasing and brand loyalty among the 100 million shoppers who make more than 2 billion visits to Simon malls each year. The current contract with VISA will expire in October 2003. Simon Property currently owns or has an interest in 249 properties in 36 states. (CF Library 11/17/01)Details
The Small Value Payments Company said yesterday that in early 2004 it will begin an “Image Exchange” on behalf of its 23 participant banks which represent over 50% of U.S. commercial bank deposits. The project is underway, with the first phase of using image to expedite returns processing available next year.Details
ID Data has launched “ChipPort,” is a distribution channel for
applications and card solutions enabling users to access products that are
already approved and certified by the major card schemes.
The company says its new “ChipPort is a survival kit that puts commercial
power back in the hands of independent card manufacturers which face
numerous threats from larger players. The solution saves the costs and
delays in gaining accreditation for products and services. ChipPort, a
subsidiary of ID Data was founded in October 2001.
Canada’s Mobile Knowledge has signed a key contract with west coast based Taxi Equipment Company to equip 350 of the 1150 vehicles with MK’s new “Series 6000” in-vehicle data terminals which provided payment card options to riders. The equipment will be shipped in the current and next quarters.Details
Westpac Banking has signed a multi-year contract with First Data for
credit card and merchant processing services. First Data will deliver card
and merchant processing services to Westpac in phases from October until
all implementations are completed in the last quarter of 2003. First Data
has provided Westpac with a range of ATM, EFTPOS and merchant processing
services since 1990. This major contract extends and enhances the existing
long-term relationship. Westpac is the second largest issuer of credit
cards in Australia and New Zealand. Last year, First Data handled more than
700 million banking transactions on behalf of its clients in Australia.