EPAYMENTSNEWS THE WEEK OF February 11-17, 2002
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Optimising Mobile
Payment Systems for Next Generation M-Commerce Conference
Aligning technology
capabilities and service provider strategies for success
in the evolving mobile payment sector
15th - 17th April 2002, London
http://www.metelecoms.com/mobilepayments5.htm
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The week in review
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Transaction Systems Architects has signed a definitive agreement to sell Regency Systems, Inc. to S1 Corporation. Regency specializes in telephone and Internet banking applications for community banks and is headquartered in Dallas, Texas. TSA said that it did not see much synergy with the company’s core business involving deals with large sized financial institutions, retailers and processors. The transaction is expected to close during TSA’s second fiscal quarter. The company will update its revenue and earnings guidance once the transaction closes.
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SureFire Commerce Inc. announced that it has signed an agreement with YellowPages.Com. The two companies will launch a payment solution called Total TransActions to YellowPages.Com’s members. SureFire Commerce’s Total TransActions solution allows virtually all small businesses and SOHOs (Small Office/Home Office) to accept VISA, MasterCard, and FirePay Personal Account brands via a virtual point-of-sale machine. Users of the Total TransActions solution can accept over-the-counter credit card payments by entering a customer’s credit card information into the Total TransAction’s interface on the
Internet. YellowPages.Com members will be able to accept credit card payment directly, by phone, and by fax, as well as send and settle invoices by e-mail. Businesses will pay a percentage of each transaction as well as a small annual fee for the Total TransActions capability. SureFire Commerce and YellowPages.Com will share revenue on all fees generated. As part of this agreement, SureFire
Commerce will offer its partners and merchants the various listing services of YellowPages.Com as an added value.
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Vodafone UK announced that it has selected iPIN to provide a payment platform for its new Vodafone m-pay bill service. iPIN’s e-payment platform will enable Vodafone UK subscribers to make online purchases over the Internet or WAP. Using the new service, Vodafone UK subscribers will be able to charge low value digital content to their mobile phone accounts from companies offering Vodafone m-pay bill as a payment mechanism. The iPIN solution is used for end-to-end electronic payments, managing the transaction from the consumer payment to the clearing and settlement and customer care. The application will incorporate several iPIN e-payment business rules and security features, including delegation of authentication and single sign-on guidelines as well as content-based authorization rules. Vodafone’s m-pay bill will be available in March.
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PayPal became one of the first consumer-oriented Internet companies to go public after the decline of the dot-com era. PayPal’s stock opened on Friday at $13 and went as high as $22.44 before closing at $20.09. The company is the first Internet start-up to go public since last March. PayPal has 59.8 million shares outstanding with its market value at more than $1 billion. The company had planned to launch its IPO last week, but had to postpone it after New York-based online payment provider CertCo, filed a patent nfringement lawsuit. According to PayPal, CertCo’s lawsuit filing was intended to disrupt its IPO. The company raised $70.9 million dollars by Friday’s end.
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MasterCard International announced that it would vigorously oppose the proposal by the Reserve Bank of Australia (RBA) to regulate the credit card industry, saying that the proposed regulations would cost cardholders hundreds of millions of dollars in higher fees and charges, make it more difficult for many consumers to get credit and lessen competition among credit card issuers to the disadvantage of small retailers and community banks. According to MasterCard, the only apparent winners would be large retailers, who not only stand to gain a windfall of $500 million annually, but also the right to surcharge cardholders for using credit cards. MasterCard’s Asia-Pacific president Andre Sekulic, said while the elements of the RBA’s goals were commendable, their proposals, if implemented, would backfire to the disadvantage of the very groups they aim to help. In particular, Sekulic said that the concept of transferring more of the cost of using credit cards from merchants to cardholders was contrary to the publi
c interest.
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In other news
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S1 Corporation announced that Jax Navy Credit Union, will implement five applications of the S1 Enterprise, including S1 Personal Banking, S1 Business Banking, S1 Customer Center, S1 ZEUS Teller, Platform and Call Center Automation solutions; Carreker Corporation and SOFTPRO North America announce an alliance that will increase their clients' ability to detect check fraud; National
Processing Company (NPC) announced the successful implementation of ClearCommerce Corporation's ClearCommerce Engine to power its VirtualPAY e-commerce platform. In a separate release NPC announced the signing of a multi-year credit card processing agreement with H&R Block; Bottomline Technologies announced that Belfast City Council will implement the company's i-Point and i-Pay Cheques solutions to enhance its accounts payable and
anti-fraud functionality; CyberSource Corporation has enhanced its transaction processing infrastructure with asymmetric encryption standards; eFunds Corporation announced that H&R Block is implementing eFunds' Electronic Check service in more than 5,000 company-owned offices nationwide; InteliData's Interpose Web Banking system has been successfully launched at California-based
Bank of the West; Digital River announced its original agreement to acquire certain assets of Beyond.com's eStores and Government Systems Group has been amended to include Beyond.com's eStores business only; Diebold, Incorporated announced it has closed a deal to purchase the ATM service business of Geac Canada Limited; Payment Services Interactive Gateway (PSiGate) has added online
banking to its merchant processing solutions; Payment Partners announced that AMREP, Inc. will begin accepting payments from their overseas customers using Payment Partners' En'point international payment services; First National Bank of Omaha will serve as a reseller for TROY Systems’ eCheck Secure product line; Ingenico Corp., has signed a contract with Imperial Oil Limited (IOL) to provide a POS solution for select IOL locations.
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DID YOU KNOW?
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A recent report released by Celent Communications has revealed that checks continue to be the payment instrument of choice in the U.S. The research company says that of the nine billion B2B payments made in 2001, 82% were made by check. The analyst firm also says that electronic payments will overtake the check in terms of total value by 2008 as both bank and non bank initiatives begin to
automate the financial supply chain.
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