Tuesday, November 2, 2010

Ingenico Signs Agreement with McDonald's in Australia and New Zealand

McDonals Drive truImage by Esther Cervantes via FlickrNeuilly sur Seine, 11/02/2010

Ingenico goes large with McDonald’s

PDF: Ingenico goes large with McDonald’s
Ingenico’s end-to-end payment solution provides secure and fast Point of Sale transactions for customers across McDonald’s restaurants in Australia and New ZealandThe Ingenico i3070 Contactless PIN padIngenico (Euronext : FR0000125346 - ING), the leading worldwide provider of payment solutions, today announces the signing of an agreement with McDonald’s for the provision of a PCI DSS compliant payments infrastructure across McDonald’s restaurants in Australia and New Zealand. The fully outsourced solution is deployed throughout McDonald’s Australia and will soon be rolled out to New Zealand restaurants.

Prior to this, McDonald’s had an infrastructure that needed replacing. Ingenico’s integrated payment infrastructure is a complete end-to-end, PCI DSS compliant solution, encompassing the i3070 contactless EFT PIN pad, the AXIS global transaction processing management system, reporting capability via the Ingenico e-Portal, and the terminal estate management.

Ingenico Axis Solution
We’re delighted to be able to offer McDonald’s such an integrated end-to-end solution. They know the importance of their customers and can now deliver faster payment and a better customer experience,” said Thierry Denis, Managing Director at Ingenico International (Pacific). “Being PCI DSS compliant was a key requirement, however to be able to provide payment services management, as well as the hardware, was a significant differentiator.

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iPhone Credit Card Swiper Adds Retail Transaction Support to Swipe Credit Card Terminal

 App NinjasCOLUMBUS, Ohio--(EON: Enhanced Online News)--App Ninjas, developer of Swipe for iPhone, is now shipping the Apple-approved Credit Card Swiper for iPhone. This hardware accessory adds support for retail transactions to the Swipe mobile credit card processing solution, which is available to merchants directly or through App Ninjas' network of value-added white-label partners.
“As conventional mobile terminals are being replaced by smart phones, ISOs and banks want to get to market with their own branded mobile processing solutions”
The Swipe white-label solution enables Independent Sales Organizations (ISOs), banks, and other merchant-focused companies to offer their customers a complete credit card processing solution for iPhone, iPod touch, and iPad. Partners’ customers process cards through a custom-branded app, newly enhanced to support the Credit Card Swiper for full retail support.
“As conventional mobile terminals are being replaced by smart phones, ISOs and banks want to get to market with their own branded mobile processing solutions,” says John Waldron, CEO of App Ninjas. “Now that we’re offering an iPhone swipe accessory, they can quickly reach the market with a turnkey solution for retail transactions  saving them the expense, hassle, and compliance reviews of rolling and their own solution.”
Swiping cards offers merchants lower rates, when paired with a retail merchant account, and reduces the time required to process each transaction.
The Swipe white-label solution offers partners same day start-up and access to App Ninjas’ PA-DSS certified iPhone solution. Additionally, the Swipe app can be customized to integrate with a partner’s existing payment gateway.
Free demo units are available to potential partners by emailing whitelabel@appninjas.com.
About App Ninjas
App Ninjas is the developer of Swipe Credit Card Terminal for iPhone. Swipe transforms a merchant’s iPhone into a safe and secure credit card terminal, allowing merchants to accept credit card payments with ease at any time. Swipe is available for purchase on the App Store. For more information, see www.appninjas.com.


App Ninjas
John Waldron, 1-800-895-4085 Ext 11
Derek Del Conte, 888-364-6527
Permalink: http://eon.businesswire.com/news/eon/20101102006486/en

Debit Cards in Use Worldwide to Reach 5.3 Billion by 2015

*According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Debit Cards markets. The number of debit cards in use is projected to reach 5.3 billion by the year 2015, driven by the consumer need for exercising enhanced control over expenditure, in the wake of adverse economic conditions. Tightening credit scenario and cautious approach adopted by financial institutions in issuance of credit cards is also driving consumers to opt for debit card-based transactions.

    Quote startDebit Cards: A Global Strategic Business ReportQuote end
    San Jose, California (Vocus) November 1, 2010
    The global economic meltdown and rising unemployment levels have forced consumers across the world to re-evaluate spending patterns, with credit cards segment severely affected by consumers restricting spending. The enhanced emphasis on limiting expenditure and difficulty in availing credit is contributing to the increased use of debit cards across the world. Growth of debit market is also attributed to the growing acceptance of small ticket debit transactions among the merchant community. Consumer focus on scaling back expenditure by adopting pay-as-you-go strategy is proving beneficial for the debit card market. The steady growth in debit transactions even during adverse economic conditions indicates the rising consumer preference for using debit cards in payments of routine purchases. Debit card industry faces challenges due to conflict associated with interchange rates, and rising incidences of fraud and data breach.
    Asia-Pacific and Europe account for more than two-third share of the total debit cards in use across the world, as stated by the new market research report on debit cards. Increasing adoption among young consumers and growing number of online transactions are major factors driving debit cards market. Apart from offering a convenient mode of payment to consumers, debit cards provide easy payment options for government and business sectors in applications such as benefits, payroll and food stamps. Rising use of debit cards is led by the advent of advanced technologies that facilitate higher card usage by enabling faster, convenient and efficient transactions. Further, the loyalty and reward program offers are also fuelling prospects in the debit card industry.
    Debit card market in the US continues to register steady growth even during adverse economic conditions, largely due to consumer preference for debit as well as growing acceptance of small ticket debit transactions among the merchant community. The economic downturn has compelled consumers to re-evaluate their spending patterns, and seek convenient modes of payments for purchases. The cautious approach adopted by credit card issuers is also contributing to the growing use of debit cards. US consumers are increasingly exhibiting preference for PIN debit rather than signature debit, due to the enhanced security offered in such payments and the relatively ease of managing such transactions. Signature debit card programs generate higher interchange revenue for financial institutions as compared to the online/PIN-based debit card initiatives. As a result, card issuers focus on promoting offline card programs.
    Asian countries are active users of debit cards, particularly PIN-based debit cards, which are being used as replacements for cash-based transactions. India and China are projected to drive debit card numbers in Asia-Pacific region. In Australia and New Zealand, debit cards are gaining momentum as ideal alternatives for credit cards and cash. China and Korea offer extensive and advanced infrastructure for electronic payments.
    The report discusses several global and regional debit card issuers and EFT/card processing companies. Major players profiled include Bank of America Corporation, Barclays Bank Plc, Citigroup Inc., Crédit Agricole S.A, Deutsche Bank AG, HSBC Bank plc, ING Group N.V., JCB Co., Ltd., JPMorgan Chase & Co., Laser Card Services Ltd., Lloyds Banking Group PLC, Wells Fargo & Company, PULSE EFT Association, First Data Corporation, MasterCard Incorporated, and Visa Inc.
    The research report titled “Debit Cards: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a strategic review of industry, key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report provides annual estimates and projections for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World.
    For more details about this comprehensive market research report, please visit –http://www.strategyr.com/Debit_Cards_Market_Report.asp    
    About Global Industry Analysts, Inc.
    Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
    Global Industry Analysts, Inc.
    Telephone 408-528-9966
    Fax 408-528-9977
    Email press(at)StrategyR(dot)com
    Web Site http://www.StrategyR.com/

    Dynamic Card Solutions Ranked Number 238 Fastest Growing Company in North America on Deloitte’s 2010 Technology Fast 500™

    Attributes its 398 Percent Revenue Growth to an Increase in Instant Card Issuance Systems
    ENGLEWOOD, Colo.--(BUSINESS WIRE)--Dynamic Card Solutions (DCS), recently acquired by DataCard Corporation (Datacard Group), today announced that it ranked number 238 on Technology Fast 500™, Deloitte’s ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2005–2009 in which DCS grew 398 percent.
    “Deloitte commends DCS for this impressive accomplishment.”
    Ron Zanotti, senior vice president of financial institutions issuance for Datacard Group, credits the rapidly growing financial instant issuance market for creating growth opportunities for the company’s CardWizard® instant issue software. He said, “we are thrilled to have been included on this prestigious list and credit our customers for embracing our solutions. Financial institutions are looking for ways to better serve their customers while also increasing revenue and profitability. Instant issuance of credit and debit cards can help them achieve all of these goals.”
    “Dynamic Card Solutions and the other 2010 Technology Fast 500™ winners forged ahead in a challenging economic environment to realize exceptional growth,” said Phil Asmundson, vice chairman and Deloitte’s U.S. technology, media and telecommunications leader. "Deloitte commends DCS for this impressive accomplishment.”
    “Dynamic Card Solutions has proven itself to be one of the fastest growing tech companies in North America, and we are proud to honor them as one of the 2010 Technology Fast 500™,” said Mark Jensen, managing partner, venture capital services, Deloitte & Touche LLP.
    For additional detail on the Technology Fast 500™ including selection and qualifying criteria, visit www.fast500.com.
    About Datacard Group
    Datacard Group is building on a 40-year heritage of innovation and customer success. Our portfolio of solutions, backed by expert service and support, enable card and secure ID programs for financial, government and other markets worldwide. With an unmatched commitment to customer satisfaction, Datacard remains the industry’s leading brand of secure ID and card personalization solutions. www.datacard.com
    About Dynamic Card Solutions
    Dynamic Card Solutions (DCS), recently acquired by Datacard Group, is the leading provider of instant issuance and PIN selection solutions for banks, credit unions and retailers that issue EMV®-compliant contactless and magnetic stripe cards. With more than 550 financial institution customers supporting thousands of active branches, DCS is the leading instant issuance provider for Visa® and MasterCard® debit cards worldwide. For additional information, call +1.303.754.2000 or visit the Dynamic Card Solutions Web site at www.instantissuance.com.
    As used in this document, “Deloitte” means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.


    Dynamic Card Solutions/Datacard Contact:
    Kristin Eckmann
    Permalink: http://www.businesswire.com/news/home/20101102006368/en/Dynamic-Card-Solutions-Ranked-Number-238-Fastest
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    TransCard Announces, Switch for Free, a Turnkey Bank and Prepaid Processing Solution for Members of the Prepaid Community

    http://www.transcard.comCHATTANOOGA, Tenn.--(BUSINESS WIRE)--Now through March 31, 2011, TransCard will waive the implementation fee for program managers and ISOs that join the program*.
    “We are looking for high quality and reputable program managers that are looking for a partner to help them scale their business. We don’t want the economics of switching to a new solution to be prohibitive for program conversion”
    This solution is offered to program managers that are with existing processors and issuers and have portfolios of business they wish to convert to a new issuer and processor. The bundled solution makes it easy for customers that have portfolios of cards and want to find new partners, but don't want to pay for bank and processing implementation fees.
    “We are looking for high quality and reputable program managers that are looking for a partner to help them scale their business. We don’t want the economics of switching to a new solution to be prohibitive for program conversion,” Craig Fuller, CEO of TransCard stated.
    In addition to providing free implementation to qualified program managers, TransCard will pay for any bank related implementation or on-boarding fees.
    To qualify, the program manager must have established portfolios with $1 million dollars in annual spend, be in business for more than 2 years, and be a registered ISO of a network association. The program is targeted towards high-quality reloadable prepaid portfolios.
    Switch For Free is also available to banks that wish to convert their prepaid agent program to a direct issuer program through the Community Bank Prepaid Program, partnered with Business Solutions, a subsidiary of the American Banker’s Association.
    For more information on Switch For Free, please visit: www.prepaidcommunity.com
    For more information on the Community Bank Prepaid Program, please visit: www.prepaidissuer.com
    About TransCard
    TransCard (www.transcard.com) provides custom, turnkey prepaid programs for corporate, non-profit and government organizations. TransCard is one of a few privately held core processors in the world, providing prepaid debit card solutions branded with MasterCard®, Discover®, STAR and PULSE associations. The company specializes in on-demand prepaid programs using a sophisticated proprietary technology platform that was built in-house to meet the unique needs of clients in various industries. Along with the most robust suite of value-added cardholder benefits - including mobile banking, online bill pay, free credit scores and a Personal Financial Management tool that budgets, tracks spending and has customizable widgets-in prepaid, TransCard offers 24/7/365, live, bilingual customer service and a check-free online account accessed through an easy-to-use website.
    * Programs are subject to successful approval of program application.


    Nathan Lemon, 303-482-6991
    Permalink: http://www.businesswire.com/news/home/20101102006327/en/TransCard-Announces-Switch-Free-Turnkey-Bank-Prepaid

    Global Payments Announces Q1 Dividend

    Image representing Global Payments as depicted...Image via CrunchBase
    ATLANTANov. 2, 2010 /PRNewswire-FirstCall/ -- Global Payments Inc. (NYSE: GPN), a leader in electronic transaction payment processing, announced today that its board of directors approved fiscal 2011 first quarter dividend of $0.02 per common share payable November 30, 2010 to shareholders of record as of November 16, 2010.    
    Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United StatesCanadaEurope, and the Asia-Pacific region.  Global Payments, a Fortune 1000 company, offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management.  Visit www.globalpaymentsinc.com for more information about the company and its services.

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    MasterCard Year to Date Income up 22% According to 3Q Results

    MasterCardImage via Wikipedia

    MasterCard Incorporated Reports 
    Third-Quarter 2010 Financial Results

    • Third-quarter net income of $518 million, or $3.94 per diluted share
    • Third-quarter net revenue increase of 4.7%, to $1.4 billion
    • Third-quarter gross dollar volume up 8.5% and purchase volume up 7.9%
    PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Incorporated (NYSE:MA) today announced financial results for the third quarter 2010. The company reported net income of $518 million, up 14.6%, and earnings per diluted share of $3.94, up 14.2%, in each case versus the year-ago period.
    “Our year-to-date net income is up over 22%, aided by strong volume growth from markets outside of the U.S.”
    Net revenue for the third quarter of 2010 was $1.4 billion, a 4.7% increase versus the same period in 2009. On a constant currency basis, net revenue increased 7.3% compared to the same period in 2009, driven by the revenue impact of the following:
    • An increase in cross-border volumes of 15.4%; and
    • An 8.5% increase in GDV on a local currency basis, to $685 billion.
    In addition, a pricing contribution of approximately 7 percentage points, including the effect of cross-border rebates, was offset by a net increase in rebates and incentives due to new and renewed customer agreements.
    Worldwide purchase volume during the quarter was up 7.9% on a local currency basis versus the third quarter of 2009, to $514 billion. The number of processed transactions increased 0.6% compared to the same period in 2009, to 5.8 billion. As of September 30, 2010, the company’s customers had issued 1.6 billion MasterCard and Maestro-branded cards.
    "Consumers and businesses around the world continue to recognize the benefits of electronic payments and MasterCard remains at the heart of this evolution," said Ajay Banga, MasterCard president and chief executive officer. "Our year-to-date net income is up over 22%, aided by strong volume growth from markets outside of the U.S."
    Banga commented, “Leveraging our global presence and differentiated assets, we continued to win new deals and execute against our three strategic pillars to grow, diversify and build MasterCard’s business. We are growing our global debit portfolio with new agreements that include Sovereign Bank, Chevy Chase (now part of Capital One) and Delta Air Lines in the U.S., Barclaycard in Germany and Qatar Islamic Bank. We are expanding our presence in new markets and channels, reflected in our memorandum of understanding with China Union Pay and an agreement with Singtel, one of the larger mobile operators in Asia. We also completed our acquisition of DataCash which enhances our e-Commerce capabilities."
    Total operating expenses decreased 4.1%, to $662 million, during the third quarter of 2010 compared to the same period in 2009. Excluding currency fluctuations, operating expenses were down 2.6%. The decrease in total operating expenses was driven by a 6.7% reduction in general and administrative expenses, or 5.2% on a constant currency basis. This was due to lower personnel expense driven by decreased severance and compensation versus the year-ago quarter, primarily as a result of workforce reductions in 2009.
    Advertising and marketing expenses increased $8 million, or 4.7%, in the third quarter of 2010 versus the third quarter of 2009. Excluding currency fluctuations, advertising and marketing expenses increased 6.2%.
    Operating margin was 53.6% for the third quarter of 2010, up 4.2 percentage points over the year-ago period.
    MasterCard's effective tax rate was 32.3% in the third quarter of 2010, versus a rate of 32.9% in the comparable period in 2009. The decrease was due primarily to benefits from the repatriation of foreign earnings and a lower state tax rate, partially offset by the impact of discrete adjustments in each of the three-month periods ending September 30, 2009 and September 30, 2010.
    Year-to-Date 2010 Results
    For the nine months ended September 30, 2010, MasterCard reported net income of $1.4 billion, or $10.89 per diluted share.
    Net revenue for the nine months ended September 30, 2010 was $4.1 billion, an increase of 7.9% versus the same period in 2009. On a constant currency basis, net revenue increased 8.4%.
    Cross-border volume growth of 13.9%, gross dollar volume growth of 8.5%, and the net impact of pricing changes of approximately 6 percentage points, including the effect of cross-border rebates, contributed to the net revenue growth in the year-to-date period. These factors were partially offset by a net increase in rebates and incentives due to new and renewed customer agreements.
    Total operating expenses decreased 4.5%, to $1.9 billion, for the nine-month period compared to the same period in 2009. Excluding currency fluctuations, total operating expenses decreased 4.3%.
    Operating margin was 53.2% for the nine months ending September 30, 2010, up 6.0 percentage points over the year-ago period.
    Total other expense was $8 million for the nine-month period versus $32 million for the same period in 2009. The decrease was primarily due to a decrease in interest accretion on litigation settlements.
    MasterCard’s effective tax rate was 34.2% in the nine months ended September 30, 2010, versus a rate of 33.6% in the comparable period in 2009. The increase in the effective tax rate was primarily due to the impact of discrete adjustments in each of the nine-month periods ended September 30, 2009 and September 30, 2010, partially offset by benefits from repatriation of foreign earnings and a lower state tax rate.
    Third-Quarter Financial Results Conference Call Details
    At 9:00 a.m. ET today, the company will host a conference call to discuss its third-quarter financial results.
    The dial-in information for this call is 800-561-2718 (within the U.S.) and 617-614-3525 (outside the U.S.) and the passcode is 39627109. A replay of the call will be available for one week thereafter. The replay can be accessed by dialing 888-286-8010 (within the U.S.) and 617-801-6888 (outside the U.S.) and using passcode 88723546.
    The live call and the replay, along with supporting materials, can also be accessed through the Investor Relations section of the company’s website at www.mastercard.com.
    About MasterCard Incorporated
    As a leading global payments company, MasterCard Incorporated prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2009, $2.5 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 22 billion transactions each year and has the capacity to handle 140 million transactions per hour, with an average network response time of 140 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl™. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com.

    The Bancorp Bank Teams Up with Net1 Virtual Credit Card, Inc. to Launch Mobile Payments Initiative

    WILMINGTON, Del.--(BUSINESS WIRE)--The Bancorp Bank Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), today announced a new relationship with Net1 Virtual Credit Card, Inc., a wholly-owned subsidiary of Net1 UEPS Technologies, Inc. (NASDAQ: UEPS), to offer VCpay™, a prepaid virtual payment card application designed for Card-Not-Present (CNP) transactions, into the mobile payments market. Since its launch a month ago, the VCpay™ application has been distributed to tens of thousands of smartphones with significant adoption anticipated in coming months.
    “We are excited to announce this relationship with Net1 as it is consistent with our commitment to “Changing the Way America Pays”
    http://www.thebancorp.comMetro PCS, Net1’s first distributor of VCpay™, has several million subscribers and is offering VCpay™ to its prepaid customers as an application that will be pre-loaded on new smartphones or can be downloaded on select existing devices. VCpay™ allows a subscriber to access the MetroPCS Virtual Prepaid MasterCard® which generates unique, one-time use prepaid virtual card numbers to securely purchase goods and services or perform bill payment in any CNP environment. The MetroPCS Virtual Prepaid MasterCard is the first mobile phone-based prepaid program with no requirement for the user to have a physical card or a bank account. Subscribers can load their prepaid virtual accounts with cash at any of MoneyGram’s 40,000 U.S. agent locations, including many grocery, pharmacy and convenience store chains or shortly with direct deposits into their mobile account via bank transfers (ACH).
    ”While we continue to see rapid growth in e-commerce, the unbanked and under-banked population has typically been excluded from this transformation due to limited access to acceptable forms of electronic payment. VCpay™ links a mobile device to a reloadable prepaid virtual account and can be used for CNP transactions such as purchases, bill payment and remittance, wherever Debit MasterCard is accepted. VCpay™ can be funded with cash deposits or free ACH transfers. We are extremely pleased with our relationship with The Bancorp, one of the most innovative issuers of prepaid cards. We expect to leverage our partnership to offer VCpay™ to other distributors over time,” said Eric Meniere, President of Net1 Virtual Credit Card, Inc.
    “We are excited to announce this relationship with Net1 as it is consistent with our commitment to “Changing the Way America Pays” through the development of innovative products. We believe it is critical to offer the tools that consumers require to meet their diverse needs and to simplify their payment processes,” said Jeremy Kuiper, Managing Director – The Bancorp Payment Solutions Group.
    For more information regarding The Bancorp Bank’s payment solutions please contact Lindsey Frank at 952-449-6014.
    MetroPCS Virtual Prepaid Card is issued by The Bancorp Bank pursuant to license from MasterCard International Incorporated. The Bancorp Bank; Member FDIC. MasterCard is a registered trademark of MasterCard International Incorporated.
    About The Bancorp Payment Solutions Group
    The Bancorp Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), offers secure, creative and innovative payment solutions to the prepaid card industry. As a leading issuer of prepaid cards, The Bancorp Payment Solutions Group contributes to the success of Fortune 500 companies through the development of cutting-edge prepaid card programs that meet the rapidly changing needs of the prepaid industry. Through long-standing relationships with the MasterCard, Visa, and Discover card associations, leading program managers and processors, The Bancorp Payment Solutions Group designs innovative and flexible prepaid card programs which deliver outstanding results. For more information about The Bancorp Payment Solutions Group please visit www.thebancorppsg.com.
    About Net1 (www.net1.com)
    Net1 Virtual Credit Card is a wholly-owned subsidiary of Net1 UEPS Technologies, Inc., created in 2009 as a payment solution company to address consumers evolving needs, trends and concerns by creating safe, convenient and flexible mobile payment solutions for everyone (www.myvcpay.com). Net1 UEPS Technologies provides its universal electronic payment system, or UEPS, as an alternative payment system for the unbanked and under-banked populations of developing economies. Net1's market-leading system enables the estimated four billion people who generally have limited or no access to a bank account, to enter affordably into electronic transactions with each other, government agencies, employers, merchants and other financial service providers. Net1‘s universal electronic payment system, or UEPS, uses smart cards that operate in real-time but offline, unlike traditional payment systems offered by major banking institutions that require immediate access through a communications network to a centralized computer. This offline capability means that users of the Net1 system can enter into transactions at any time with other card holders even in the most remote areas so long as a portable offline smart card reader is available. In addition to payments and purchases, UEPS can be used for banking, healthcare management, international money transfers, voting and identification.
    About MetroPCS Communications, Inc.
    Dallas-based MetroPCS Communications, Inc. (NYSE: PCS) is a provider of unlimited wireless communications service for a flat-rate with no annual contract. MetroPCS is the fifth largest facilities-based wireless carrier in the United States based on number of subscribers served and has access to licenses covering a population of approximately 146 million people in many of the largest metropolitan areas in the United States. As of June 30, 2010, MetroPCS had over 7.6 million subscribers. For more information please visit www.metropcs.com.


    The Bancorp Bank, Investor Relations
    Andres Viroslav
    Permalink: http://www.businesswire.com/news/home/20101102005562/en/Bancorp-Bank-Teams-Net1-Virtual-Credit-Card

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