VeriFone Posts 2Q/12 Revenue Up 64%

VeriFone Systems posted its revenue for the three months ended April 30, 2012 of $479 million, compared to $425 million in the previous quarter and $293 million for the comparable period of fiscal 2011 for a 64% year-over-year increase. GAAP net revenues were $472 million for the latest quarter, $420 million for the prior quarter, and $292 million for Q2 FY11. Non-GAAP net revenues excluding revenues from businesses acquired in the past 12 months increased 15% from the year-ago quarter. Hypercom-brand non-GAAP net revenues increased $8 million sequentially to $81 million in Q2 FY12. Meanwhile, net income per diluted share for Q2 FY12 was $0.64, compared to $0.58 in the prior quarter and $0.46 for Q2 FY11, a 39% year-over-year increase.

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Shareholder Violated Agreements in Proxy against USA Technologies

USA Technologies announced the United States District Court for the Eastern District of Pennsylvania determined that Bradley Tirpak, a dissident shareholder and former board member, whose proxy contest organization operates under the self-laudatory moniker of S.A.V.E., has violated a contractual agreement in an attempted proxy battle against USA Technologies. The Court found that various statements made by S.A.V.E. in the last month violated a non-disparagement provision of an agreement entered into by Tirpak and his affiliates with the Company in May 2011. This enjoins Tirpak from engaging in future violations of the May 2011 Settlement Agreement.

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PayPal Partners ShopKeep POS

Allowing customers to check-in with PayPal and check out at the register at nearly 2,000 merchants with the iPad POS solution from ShopKeep POS, the companies partnered for PayPal cardless payment acceptance at the flat rate of 2.7%. PayPal customers check-in at participating merchants with their PayPal iPhone app. At checkout, the customer’s name and photo will appear on the ShopKeep POS iPad register. The cashier identifies the customer and finalizes the transaction. Once the transaction is complete, the customer is automatically checked out of the store and receives an email receipt of the transaction

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Erply integrates PayPal mPayments

Erply cloud-based POS software forged its strategic integration with PayPal to provide businesses a new way to accept mobile payments and manage business operations. Consumers can simply “check-in” on their smart phone to their favorite stores and pay with PayPal. Retailers can accept payments from a consumer’s mobile device and bridge the gap between the physical and online worlds, by allowing retailers to get more insight into their customers to deliver more personalized shopping experiences to help drive traffic to their stores through PayPal’s popular mobile application. The ERPLY solution is unique in that it deploys a multi-platform from iPad and/or the web to its proclaimed Windows client which allowing retailers to run sales both online and offline while social media services are also integrated.

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BluePay Launches Remote Credit Card Processing

BluePay all-in-one credit card processor and online payment gateway provider made available processing for small business solutions with virtual terminals, mobile credit card processing and wireless options. BluePay’s virtual terminal targets merchants working from home, or for those accepting primarily Mail Order Telephone Order (MOTO) payments, because they allow merchants to manually enter credit card sales from any computer with an Internet connection. Mobile and wireless processing options let small business merchants accept credit card payments anywhere; mobile options accept payments from merchants’ cell phones, while wireless terminals are compact and portable.

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Mac Platform Available for Wells Fargo RDC Through Panini

Wells Fargo now supports Macs for remote deposit capture through Panini scanners with iMac, MacBook Pro, MacBook Air, Mac mini, and Mac Pro computers. The CEO Desktop Deposit service, a proprietary Web-based remote deposit service which does not require a software download, is ideal for businesses that receive most of their payments by check, because it allows them to make deposits from any business location at any time, whether or not a physical bank location is close by. Enrollment and items deposited have soared by double-digit percentages each year since, and Wells Fargo ranks No. 1 in remote capture volume and locations for 2011.

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Bank of America to Sell Remaining Interest in Archstone

Bank of America announced that it and Barclays Bank PLC have entered into an agreement with Equity Residential and Lehman Brothers Holdings Inc. pursuant to which Bank of America and Barclays will sell their remaining 26.5 percent interest in Archstone, a privately-held owner, operator and developer of multifamily apartment properties, for a purchase price of…

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Lehman Brothers to Acquire Remaining Stake in Archstone

Lehman Brothers Holdings Inc. announced today that it has exercised its right of first offer to purchase the remaining stake in Archstone held by affiliates of Bank of America and Barclays Capital (“the Banks”), which will give Lehman full ownership of Archstone. This transaction follows Lehman’s purchase in January 2012 of a 26.5% interest previously…

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Protegrity Deploys Vaultless Tokenization for Payments Industry

Protegrity, a leading provider of end-to-end data security solutions, announced Protegrity Vaultless Tokenization for the Payments Industry, the first and only offering that enables processors and gateways to cost-effectively provide tokenization services across their entire client base. Protegrity now supports the largest companies in the payments industry with a lightweight tokenization solution that can scale…

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Alibaba.com Shareholders Approve Privatization

Alibaba Group Holding Limited (“Alibaba Group”) and Alibaba.com Limited (HKSE: 1688; 1688.HK “Alibaba.com”) jointly announced that the proposal for the privatization of Alibaba.com by way of a scheme of arrangement (“Scheme”) has been approved by a sufficient majority of the independent shareholders of Alibaba.com at the Court Meeting today. Approximately 95 percent of the shares…

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Cashplus Awarded at Card and Payments Trailblazer Awards

The Cashplus Prepaid Card Account, offered by Advanced Payment Solutions (APS), has won ‘Best New Prepaid Product’ at the Card and Payments Trailblazer Awards 2012 as a ‘major innovation.’ Awarded by Cards and Payments Europe, in association with Cards International and Electronic Payments International, are for banks, retailers, vendors and technology providers from the whole of Europe. Cashplus beat competition from Citi, PayPal and Royal Sun Alliance. The solution addresses high penalties when Direct Debits are refused by other banks; the difficulty in managing and controlling staff expenses; and mall businesses difficult opening bank accounts without credit history.

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Fundtech and HDFC Bank Win Asian Banker Award

Fundtech global transaction banking solutions announced its “Global CASHplus” won The Asian Banker’s award for Best Corporate Payments Implementation Project. The solution provides a real-time web services-based channel, which enables the bank’s partners to aggregate remittance transactions and send them to HDFC Bank in a secure environment. The Global CASHplus provides a high degree of automation replacing many time-consuming manual processes, automated transaction initiation, automated acknowledgement, rejections where necessary and online transaction status. It provides cash management, financial supply chain and trade, and remittances solution. The platform offers an integrated suite of features with rich functionality and scalability that is deployed on a modular basis.

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