Verifone Investors Seeks Answers

Law Offices of Howard G. Smith is investigating potential claims against VeriFone Systems on possible violations to federal securities. Focusing on allegations that certain statements issued by VeriFone between December 14, 2011 and February 19, 2013 were false and misleading regarding the Company’s operations and financial performance, the investigation is related to allegations Verifone failed to execute on its plan to move to a more subscriptions-based service model, past acquisitions had masked what was happening at the Company and Verifone accounting recognition having been overly aggressive.

On February 20, 2013, VeriFone announced its preliminary financial results for the first fiscal quarter ended January 31, 2013. The Company announced that it expected first quarter adjusted earnings of $0.47 to $0.57 per share on revenue of $424 million, well below analysts’ profit forecast of $0.73 per share on revenue of $492 million. The Company also announced a new revenue recognition policy which prevented it from recognizing revenues that quarter from distributors in the Middle East and Africa. The next day, February 21, 2013, VeriFone shares fell $13.65 from the previous day’s close of $31.89 per share, to a closing price of $18.24 per share, on extremely heavy trading volume.

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TPC to Offer Comprehensive Web Enablement Solution

The Principal Consulting (TPC) has assembled a partnership of leading e-commerce companies to help retailers build a comprehensive online shopping experience based on SAP’s Web Channel Experience Management (WCEM) 3.0. With SAP’s Web Channel Experience Management 3.0 as a foundation, TPC, an expert SAP services consultant, provides services and solution design to customize and enhance WCEM to fit retailers’ individual applications. SAP WCEM 3.0 delivers end-to-end processes for e-commerce, e-marketing, e-service, and web channel analytics on a web channel platform that’s easily extensible, allowing customers and partners to build in their business specifics. Version 3.0 also offers the simple, attractive, and responsive customer-facing user interface that customers expect of any web shop.

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Alibaba & MasterCard Ink MoU on Evolving eCommerce

Alibaba Group e-Commerce and MasterCard have signed a Memorandum of Understanding (MOU) to explore future collaboration in the area of e-Commerce. With the intention to forge joint efforts to establish an enhanced e-Commerce environment to benefit consumers and small businesses within and outside China, the two parties have also agreed to jointly address a strong mutual commitment to help combat intellectual property infringement. Both companies believe that innovation and collaboration are the drivers of development in e-Commerce, and are committed to fostering an enhanced e-Commerce environment that provides a safe and efficient payment experience for users of Alibaba Group’s platforms such as AliExpress and its affiliate Alipay.

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Glory Group Launches Cash Management Outfit

The Glory Group of Japan is now among the largest international cash management solutions providers, with more than 2,500 direct employees and a distribution network spanning more than 100 countries globally. With this, the total global business now has more than 9,000 employees and revenues exceeding $.1.5 billion per annum. The Glory Group Solutions is the combination of engineering and consultative experience from both legacy companies, enabling delivery of truly innovative, personalised solutions for clients. Glory and Talaris international distribution partners continue to be partners of the new Glory Global Solutions.

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DFC Announces Disappointing Fiscal Third Quarter

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] DFC Global financial services for the unbanked and under-banked announced selected, preliminary financial results for its fiscal quarter ended March 31 with an adjusted EBITDA of between $52 to $54 million. Company lowers its fiscal 2013 diluted operating earnings guidance, which excludes any one-time charges or gains that may occur, the…

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Restaurant Manager POS Sees Growing Implementation

Action Systems Restaurant POS and long-time leaders in mobile POS solutions for restaurants announced that diverse restaurant concepts around the world are now running Restaurant Manager v18 software on the iPad and iPad Mini. The announcement highlights the latest addition to ASI’s wireless POS offerings and marks a ten-year milestone in a mobile POS product line that was first launched in 2003. Restaurant Manager has long been a leader in mobile POS solutions with features like the Write-On Handheld wireless ordering and payment system for the iPod Touch, and the RM Monitor remote reporting app.

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NCR Silver Announces Social Media Integration Solution

NCR Silver mobile POS solution has been enhanced to empower small business owners to provide marketing messages to customers via the NCR Silver email marketing engine and update businesses’ Facebook pages with the same messages at the same time. The NCR Silver social media update makes marketing to customers easier, with more impact, than ever before. With one click, small business owners can now engage in email marketing campaigns and at the same time update their businesses’ Facebook page with the same messages about their business or products. The integrated social media marketing saves small business owners time, streamlines their marketing efforts and empowers them to build a community of customers, which in turn drives loyalty and sales. NCR Silver’s cloud-based architecture enables this social media integration update to deploy automatically to existing NCR Silver customers and is included in all new installations for new customers. Earlier in the month NCR Silver was updated to provide business owners with the ability to launch and manage gift card programs.

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Outstanding Card Debit Way Down from ’09, ’10 Figures

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] With the total outstanding revolving US consumer credit down 5.1% in December to $849.8B, it posted .1% growth in January to $850.9B. Although rather stagnant against recent months, January credit outstanding is way up on the year ago figure of $800.9B. This is still better than the 2009 and 2010 figures,…

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U.S. Government Migrates SS Benefits With ePayments Option

The Center for Financial Services Innovation (CFSI) and Hudson Institute released the “Double Duty: Payments Cards as a Doorway to Greater Financial Health” report. Illustrating the potential e-payments to help government benefit recipients improve their financial health and capability through access to more information about their benefit payment, the report shows in January over 62 million consumers received Social Security or Supplemental Security Income benefits. Of this figure, 90.8% used direct deposit, 3.6 percent used the Direct Express prepaid card, and 5.6 percent received a check. Virtually all 22.3 million recipients of the Supplemental Nutrition Assistance Program (SNAP) receive their benefits via monthly loads to payment cards. About 8.2% of U.S. households (17 million adults) do not have a bank account. When recipients are required to receive their benefits electronically, those who cannot choose direct deposit receive the default choice instead”a prepaid debit card.

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MoneyGram Partners Univision MasterCard Prepaid Card

MoneyGram signed an agreement with Univision Enterprises, a division of Univision Communications media company for a MoneyGram link on Univision’s MasterCard Prepaid Card “Tarjeta Prepagada” page. With this, Univision’s Prepaid MasterCard account holders can easily and directly connect to MoneyGram to complete money transfers and expedite bill payments using their Univision Prepaid MasterCard. This agreement leverages the resources of Univision with the world’s second-largest global money transfer company. The MoneyGram network currently has more than 310,000 locations in 197 countries.

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Western Union Launches SME-Friendly Solutions

Western Union Business Solutions global payment services launched Currency Options and a new cash management tool designed to assist small and medium-sized enterprises (SMEs) engaged in international trade. Its “GlobalPay Cash Management” dashboard will give SME clients an immediate overview of their total payments exposure. Users will be able to calculate their FX risk based on the amount of money and currencies they are trading in at current market price, allowing them better to manage their international risk and cash flow. Business owners and corporate treasurers will now be able to set a forward exchange rate at a specified date and then choose whether to use the pre-agreed amount or to reconsider given current market conditions. This gives SME owners the security of knowing the absolute most that they will be required to pay for a transaction, regardless of currency volatility. Western Union Business Solutions enables companies of all sizes to send and receive international payments and manage foreign exchange, creating unique solutions tailored to suit their individual needs.

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Net Element Expands mPayments Business

Net Element International electronic commerce and mobile payment processing entered into an Agreement with NTH AG to broaden the reach of TOT Money’s (“TOT”) mobile messaging and mobile payments operations to additional markets, now available to customers and content providers across 39 countries. NTH Group is a leading AISP (Application and Infrastructure Service Provider) in European markets for interactive telecom and media services with an extensive coverage map with premium mobile and voice connectivity in more than 70 countries worldwide. Net Element International announced its proposed acquisition of Unified Payments, expected to position and diversify Net Element International’s TOT Money business and expand its global presence in the payments market.

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