Wednesday, 02 March 2011

ASK and IDECO to Create a Joint Venture in South Africa

ASK and IDECO are proud to announce that they have entered into an agreement for the creation of a joint venture company 'ASK-IDECO' based in South Africa.

The new joint venture will address the transportation, access control and secure documents' sectors to offer end to end solutions to clients, from the database management, to the hardware and software components of a contactless ticketing system including contactless smart cards and tickets.

Mr. Bruno Moreau, ASK C.E.O. "This deal makes sound business sense for both parties and is driven both by the need to offer proximity services to our current and future clients and to offer them personalisation solutions."

VeriFone Reports Results for the First Quarter of Fiscal 2011

VeriFone Systems, Inc. yesterday announced financial results for the three months ended January 31, 2011 ("Q1 FY11").

Net revenues for Q1 FY11 were $284 million, compared to $276 million in the previous quarter and $223 million in the first quarter of fiscal year 2010 ("Q1 FY10"), a 27% year-over-year increase. Services revenue grew by nearly 65% year-over-year and exceeded 20% of total net revenues in Q1 FY11.

"VeriFone posted a remarkable first quarter with record revenue, accelerating growth rates, and expanding margins," said Douglas G. Bergeron, Chief Executive Officer. "Every region grew by a double digit percentage, and our transformational service initiatives made significant advances in the quarter. We are excited about our prospects for 2011 and beyond," Bergeron added.

Visa Inc Completes Acquisition of PlaySpan Inc.

Visa Inc. announced yesterday that it has completed its acquisition of PlaySpan Inc., a privately held company whose payments platform handlestransactions for digital goods in online games, digital media and social networks around the world.

This move complements Visa's 2010 CyberSource acquisition and extends the company's capabilities into one of the fastest-growing segments of eCommerce - digital and mobile commerce.

LaserCard Receives $8.6 Million Order for U.S. Green Cards

LaserCard Corporation announced receipt of an order for approximately $8.6 million for optical security media cards to be issued under the Department of Homeland Security's U.S. Permanent Resident Card ("Green Card") program. Delivery is scheduled for completion in August, 2011.

"The U.S. Green Card has set new standards in security and functionality for government programs worldwide," said Robert DeVincenzi, president of LaserCard Corporation. "It is the world's first implementation of optical security media for visual and data security and an RFID tag for accelerated border crossing, and it incorporates a host of security innovations."

The U.S. Green Card has been recognised by U.S. forensic experts as "effectively putting mass counterfeiters out of business" and the new card was judged the world's leading government ID card in terms of technology and user utility in a July, 2010.

LaserCard's highly secure, advanced ID credentials are trusted by governments worldwide to protect the personal identification of their citizens, foreign residents and government employees, and to provide official documentation such as driver licenses and vehicle registration cards.

Fiserv Unveils New Prepaid Solutions

Fiserv, Inc. announced that it is launching a new set of prepaid solutions. Fiserv will offer prepaid processing, turn-key program management, and support of general purpose reloadable and payroll cards for large financial institutions and corporations.

Fiserv has acquired prepaid card processing and other technologies developed by Maverick Network Solutions, a Delaware-based provider of advanced prepaid and reward and incentive card programs. The Delaware start-up and its employees became part of the Fiserv Card Services group on March 1, 2011.

"The vision for our prepaid solutions is a holistic prepaid offering that will include processing, program management, a DDA replacement card and private label programs," said Rahul Gupta, president, Card Services, Fiserv.

Prepaid cards are growing in popularity, especially general purpose reloadable cards.

Cross Match Names David Buckley as President and CEO

Cross Match Technologies, Inc. announce that David Buckley has been named the company's President and Chief Executive Officer.

"Mr. Buckley has an exceptional background that will be invaluable as he leads our company through the dynamic changes in the biometrics arena and as we continue to grow our solutions business," says Don Nickelson, Chairman of the Board at Cross Match. "We welcome him to Cross Match with great pleasure and anticipation."

Mr. Buckley holds a Bachelor of Science degree from the United States Naval Academy where he focused on optical physics, and a Masters in Business Administration from the Wharton School of Business where he studied operational management. Active in his local community, Mr. Buckley is a familiar speaker at various professional events throughout the country and also coaches youth football and lacrosse.

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