First Data Corp. received all domestic and international regulatory approvals required to close its pending merger with an affiliate of Kohlberg Kravis Roberts & Co. The transaction is expected to close by Sept. 30, 2007.
The nascent Visa Inc. has moved another step closer to its launch as a public company by forming a board of directors and appointing Byron Pollitt Jr. Chief Financial Officer. Pollitt joins the company from Gap Inc., where he served as Executive Vice President and Chief Financial Officer. Subject to membership approval, the restructuring plan calls for Visa U.S.A., Visa Canada and Visa International to become subsidiaries of Visa Inc. Visa Europe, however, will remain a membership-owned card Association and become a Visa Inc. licensee.
In addition to Visa Inc. Chairman and Chief Executive Officer Joseph Saunders, 10 independent directors and seven directors drawn from Visa's operating regions comprise the board. For a full list of board appointees and latest developments on the restructuring, visit www.corporate.visa.com.
Smart Card Alliance has created a comprehensive and free guide to contactless payments especially for merchants. It consists of two parts: A white paper, Accepting Contactless Payments: A Merchant Guide, and a presentation, Contactless Payment Deployment: Merchant Implementation Guide. The materials include:
The guide can be downloaded from SCA's Web site: www.smartcardalliance.org.
Research and Markets' new report, Shift to Electronic Payments: Growth Opportunities for Merchant Processors, is now online at www.researchandmarkets.com /reports/c66072. The report studied the implications of the shift from cash to electronic payments, with emphasis on the merchant acquiring sector. The focus was on major entities of the supply chain, including card issuers, card Associations, merchants, merchant acquirers and electronic processors for credit and signature debit transactions.
Alpha Card Services Inc. was named one of the 500 fastest growing, privately held companies in the country by Inc. magazine. The company was ranked No. 99, with a growth rate of 1,540% over the last three years.
Panini has launched a small-business initiative to introduce the efficiencies of remote deposit capture to the largest segment of the U.S. business market. The new program provides Panini's customers and partners a combination of products and services tailored to small businesses.
Pivotal Payments added a signing bonus to its ISO/agent program. Pivotal offers a $1,000 signing bonus for each POS merchant boarded. Agents will receive $500 for every MO/TO merchant they board.
United Payment Services introduced its new online application system. When signing a merchant with the Merchant Account Application System (MAAS), the sales associate fills out an application online, and an e-mail is sent to the merchant to obtain an electronic signature. The secure e-mail directs the merchant to review and approve the application online.
USA ePay, a GorCorp company, has launched Deft Deposit, a suite of check processing solutions. The company's check manager, USA eCheck, offers an array of Deft Deposit's ACH debit options and will soon add remote deposit capture and fax deposit.
CrossCheck Inc.'s check guarantee service is now compatible with eProcessing Network's payment gateway. EProcessing's ePNPlugIn financial software payments module for QuickBooks allows merchants to consolidate their Internet, mobile and POS transactions using QuickBooks. Leveraging established CrossCheck relationships, merchants can approve check transactions directly within QuickBooks.
Per an agreement between RentPayment and Green Dot Corp., RentPayment customers will have access to cash payment methods using Green Dot's MoneyPak. This expands MoneyPak's bill payment capabilities by providing solutions for paying rent and household bills electronically. MoneyPak is available to diverse businesses nationwide.
Intura Solutions LP, a supplier of POS and business management software, announced that the Partner Tech line of POS equipment has been certified for compatibility with the Intura Vision POS software solution. ISTS develops kiosk applications on VeriFone terminal. ISTS Worldwide Inc. has developed retail applications for the Verifone MX870 terminal.
The Linux-based MX870 is a multimedia enabled, Payment Card Industry Data Security Standard PED-approved terminal for bankcard payment, as well as loyalty, gift and value added applications. The MX870 integrates with VeriFone's VisualPayments Suite and is designed to deliver branding, promotion and advertising, especially in small form factor kiosk applications.
New Edge Networks won a two-year contract to build and manage a private communications network for Express Check Advance LLC. The work includes network monitoring, reporting and trouble ticketing.
ECA will use its high-speed wide area network to introduce new products and offer more convenient services through a new POS system that offers real-time access to branch transactions and information.
Optimal Payments Corp., a wholly owned subsidiary of Optimal Group Inc., signed an multiyear agreement for BIN sponsorship through Moneris Solutions Inc. Optimal will look to expand merchant acquiring programs by leveraging this sponsorship.
Montgomery County, Ohio, now enjoys streamlined property tax collection. Utilizing Panini's My Vision X check scanner and Breckenridge Financial Systems' remittance processing software, cashiers scan property tax checks upon receipt, and the taxpayer's file is immediately updated. Breckenridge partnered with Summit Innovations Inc. to develop a customized software solution for the county that interfaced to its existing cashier system.
Postilion Inc., a division of S1 Corp., has entered into a marketing agreement with Oklahoma-based Central National Bank of Enid to offer prepaid card programs to help community financial institutions (FIs) tap into the growing stored-value card market.
Onetech Solution LLC and Shift4 Corp. have formed an exclusive partnership that expands on the Onetech.PMS property management system, adding secure, high-speed credit card payment processing.
Onetech.PMS is a Web-based system for single and multiple properties. It manages front-desk activities, individual and group reservations, housekeeping, night audits, rate management and other key operational functions.
ProfitPoint, provider of stored value, gift and loyalty card services, acquired more than 12,000 gift and loyalty card processing locations from an undisclosed source. Under the terms of the transaction, ProfitPoint also entered into a long-term agreement involving its stored value card technology. And it will make significant investments in hardware and software upgrades to the platform.
Emily Boese joined First Annapolis' Acquiring Practice as a Manager. Most recently, she served in a variety of strategic and organizational initiatives for American Express Co. Prior, Boese worked for First Annapolis as a Senior Consultant.
The Green Sheet Inc. bid farewell to Vice President of Editorial Karen Converse, who left to pursue new opportunities. Laura McHale Holland was promoted to the position of Managing Editor.
TNB Card Services named Phil G. Davis II First Senior Vice President. Davis comes to TNB from Citigroup Inc., where he was a Senior Vice President in Citicorp's credit services division. He has also held executive positions in the card services division of Bank of America Corp. and the outsourcing division of NCO Financial Systems Inc.
First National Merchant Solutions named Chris Hardimon Vice President of National Sales. Before joining FNMS, Hardimon was Director of Account Development for AmEx Global Corporate Services. Hardimon formerly worked for JPMorgan Chase & Co., General Electric Capital Corp. and Citicorp Diners Club Inc.
AmbironTrustWave added two senior executives to the company's management team. J. Lawrence (Larry) Podmolik is Chief Technology Officer and Ronald van Geijn is Senior Vice President of Product Management.
Prior to joining AmbironTrustWave, Podmolik was President and CTO of Redpoint Technologies, a high-tech professional services firm in Chicago. Before founding Redpoint, he was Vice President and CTO at Strategic Technology Resources (now Nvisia).
Van Geijn most recently served as Vice President of Product Management for Cybertrust Corp. Previously, he was Senior Director of Product Marketing at Symantec Corp. He was Director of Product Management at Axent Technologies Inc., before its acquisition by Symantec.
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