Thursday, April 19, 2012
eServGlobal's VP Mobile Money, Paolo Montessori will chair the Mobile Payments & NFC World Summit in Hong Kong
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eServGlobal's VP Mobile Money to chair the Mobile ... ePayment News eServGlobal's VP Mobile Money, Paolo Montessori will this week chair the Mobile Payments & NFC World Summit in Hong Kong. The summit draws together highly regarded industry figures from the mobile payments space to discuss the latest market trends, ... See all stories on this topic »
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| LG Mobile, Sprint Bring Fairy Tales to Life at LG Viper 4G LTE Launch Event MarketWatch (press release) Also enabled with Near Field Communication (NFC), LG Viper 4G LTE gives owners access to features such as Google Wallet, an app that allows payment using a mobile device at NFC-enabled merchants nationwide including Bloomingdales, Toys "R" Us, CVS, ... See all stories on this topic » | |||||||
| Intel-Based Xolo X900 Android Smartphone: India First InformationWeek It marks Intel's renewed push into the mobile market. By Eric Zeman InformationWeek Intel silicon has shipped in mobile devices before, but the Xolo X900 from India's Lava is a new breed of mobile device for Intel to tackle. It's an Android smartphone, ... See all stories on this topic » |
RIM will let you upgrade to OS 7.1 at The Mobile Show 2012
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I, personally, will be attending "Why you should create a Blackberry mobile application for your business", "Near Field Communications", "Why developers ... youtharabia.com/.../rim-will-let-you-upgrade-to-os-7-1-at-the-... | ||
| Near Field Communications News Covers Mobile Security And ... NFC News Covers Mobile Security, Mobile Authentication From Confident Technologies. www.confidenttechnologies.com/news.../mobile-id-experiment |
Multicard expands NFC payment program in the Netherlands
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| Multicard expands NFC payment program in the Netherlands Mobile Payments Today Using the app, consumers can pay for meals or other items via a small NFC sticker attached to their phones. The account can be accessed and managed either through the mobile app or on the Internet. "The Cashless Betalen solution provides several ... See all stories on this topic » | ||
| The Future Is Mobile Payment And NXP Semi Has A Head Start Seeking Alpha The technology for mobile payments is already in existence, and simply needs to be installed into our smartphones. This technology is called near field communication (NFC). It enables financial transactions (without physical contact) between two ... See all stories on this topic » | ||
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| Aptify Introduces New System for Quantifying Engagement Exhibitor Online In a world overflowing with social media platforms and mobile devices, businesses and organizations seek ever more creative ways of engaging consumers with brands, using tools like QR codes and near-field communication (NFC) to turn customers into ... See all stories on this topic » |
SmartMetric, Inc. Wins Appeal Before 3 Panel Judge in the Federal Appeal Court on March 5th Against Visa and MasterCard
SOURCE: SmartMetric, Inc.
April 19, 2012 09:20 ET
Visa and MasterCard Failed in Their Attempt to Invalidate the SmartMetric Issued Patent That Covers Chip and EMV Cards in the United States; Visa and MasterCard, if They Issue Chip Cards in the USA as They Have Done in Most Parts of the World, Will Be in Direct Violation of the SmartMetric, Inc. Patent Based on the Federal Court of Appeals Ruling of a Few Weeks Ago
BAY HARBOR ISLANDS, FL--(Marketwire - Apr 19, 2012) - SmartMetric, Inc. (OTCBB : SMME) -- President & CEO of SmartMetric, Inc., Ms. Chaya Hendrick, the developer of "secured by Biometric's" Credit and Identity Cards, said today, in order to ensure your USA issued Visa or MasterCard cards will work at all ATM Machines and Point of Sale Retail Machines overseas, they will need to be an EMV or Chip & Pin Card. That is Chip Visa or MasterCard Card if issued in the United States, are in direct violation of the SmartMetric. Inc. Patent as ruled in the recent Court hearing by the Federal Appeals Court in Washington DC.
Without a chip on your card, you are at great risk of your Visa or MasterCard not working when travelling overseas.
If you are travelling overseas the likelihood of your USA issued Visa or MasterCard Credit or ATM Card not working in ATM Machines or Retail Credit Card Machines is very high. In fact, Thomas Cook have opened up booths at airports in the USA, selling pre-paid Chip Cards to overseas travelers that allows these cards to work in overseas ATM and point of sales retail machines so that travelers will not be left stranded when needing money from an ATM machine or wanting to make a purchase in a store.
EMV or Chip & Pin Credit and Debit Cards have become the standard issued cards by Banks around the World. Many World travelers are now finding that when they try to use their USA issued credit or ATM Cards, they do not work in many of the UK or European ATM of Retail Card Machines. This is why Thomas Cook is selling Chip & Pin Cards at US Airports for International travelers. Will your USA issued Visa or MasterCard work overseas? Most likely not if it's not an EMV Chip Card and if it is a USA issued Card then it is in violation of the SmartMetric, Inc., issued Patent.
iGR Forecasts 54 Percent CAGR Increase of Tablet Sales in U.S. Rural Markets From 2011 to 2016
April 19, 2012 09:18 ET
New Research From iGR Shows Tablet Sales in U.S. Rural Markets Were Just 2 Percent of Total U.S. Sales in 2011
AUSTIN, TX--(Marketwire - Apr 19, 2012) - New research from iGR shows that not all tablet users are the same, particularly with respect to market location. Currently, the majority of U.S. tablet users live in urban or suburban regions. This is due to the relatively high price of tablet devices, the lack of availability and awareness of tablet devices in rural areas, and the lag of higher-speed wireless networks in remote areas.
iGR's research shows that in 2011, just 2 percent of tablet sales in the U.S. were in rural markets. By 2016, this is expected to grow to 11 percent of total tablet sales.
iGR believes that the increase in rural smartphone sales will come about due to:
- Increased availability of tablet devices at lower price points and across venues (e.g., wireless carriers, big box retailers, electronics retailers, etc.)
- Improved tablet quality and thus capability
- Growing adoption of tablets into many a U.S. user's lifestyle both at work/ school and at home.
"iGR has consistently found that younger, well-off college graduates tend to buy tablets," said Iain Gillott, president and founder of iGR, a market research consultancy focused on the wireless & mobile industry. "But also those in urban (including suburban) regions tend to buy more tablets as compared to their rural counterparts. Over the next few years, as consumer find more uses for tablets in their work and personal lives, iGR expects the growth of tablets in rural markets to outstrip sales growth in urban and suburban areas."
When Apple introduced its initial iPad in 2010, it sparked an entirely new category of mobile devices. Today, tablet sales across U.S. users are growing, and tablets are inching their way into the classroom, workplace, and home. In addition, with users demanding more and more connectivity and content, tablets appear poised to continue on their upward trajectory into the future. As such, it is not surprising that U.S. users have begun adopting tablets into their mobile lifestyle.
iGR has been monitoring U.S. tablet sales since Apple introduced the iPad in 2010, and since that time, tablet sales have grown to reach 28.1 million by the end of 2011. Note that iGR measures sales as devices bought by end users. That said, iGR's research indicates that rural U.S. consumers are approximately 20 percent less likely to own a tablet device as compared to their urban or suburban counterparts.
iGR's new market research report, U.S. Regional Tablet Market Forecast, 2011-2016, addresses the following questions:
- What tablets (both in terms of OEM and operating system (OS)) are in use across U.S. users?
- How many tablets were sold in the U.S. in 2010 and 2011?
- How many tablets will be sold in the U.S. from 2011-2016?
- What device trends will impact U.S. tablet sales from 2011-2016?
- What share of U.S. tablet sales will be attributable to urban (includes suburban) users from 2011-2016?
- What is the likelihood to rural consumers to buy a tablet?
The new report can be purchased and downloaded directly from iGR's website, providing immediate access to a digital copy of the research. Alternatively, contact Iain Gillott at (512) 263-5682 or at iain@iGR-inc.com for additional details on this report as well as information on the Wireless and Mobile Landscape advisory service.
U.S. Regional Tablet Market Forecast, 2011 - 2016:https://igr-inc.com/Advisory_And_Subscription_Services/Rural_markets/Regional_Tablet_Forecast.asp
Wireless and Mobile Landscape Research Advisory and Subscription Service:https://igr-inc.com/Advisory_And_Subscription_Services/Wireless_And_Mobile_Landscape/
About iGRiGR is a market strategy consultancy focused on the wireless and mobile communications industry. Founded by Iain Gillott, one of the wireless industry's leading analysts, in late 2000 as iGillottResearch, iGR is now entering its twelfth year of operation. iGR continuously researches emerging and existent technologies, technology industries, and consumer markets. We use our detailed research to offer a range of services to help companies improve their position in the marketplace, clearly define their future direction, and ultimately improve their bottom line.
iGR researches a range of wireless and mobile products and technologies, including: smartphones; tablets; mobile applications; bandwidth demand and use; small cell architectures; DAS; LTE; WiMAX; VoLTE; IMS; NFC; GSM/GPRS/UMTS/HSPA; CDMA 1x/EV-DO; iDEN; SIP; macro-, pico- and femtocells; mobile backhaul; WiFi and WiFi offload; and SIM and UICC
A more complete profile of the company can be found at www.igr-inc.com.
Press Accreditation for the GSMA Mobile Asia Expo 2012 Is Now Open
LONDON, April 19, 2012 /PRNewswire/ -- The GSMA today announced that the accreditation process for media planning to attend the GSMA Mobile Asia Expo on 20-22 June 2012 is now open. Industry leaders such as China Mobile, China Unicom, Huawei, Nokia, NTT DOCOMO, Smart and ZTE are among the companies who will be participating at the Mobile Asia Expo, which will be held at the Shanghai New International Expo Centre.
To apply for accreditation for Mobile Asia Expo, media should visit www.mobileasiaexpo.com/press to review the accreditation criteria, and then email the relevant supporting documentation and links to pressregistration@mobileasiaexpo.com. Upon approval of their accreditation application, media will then be able to register online for free access to Mobile Asia Expo.
Mobile Asia Expo will include a thought leadership conference programme featuring the most influential speakers from across China and Asia including:
- Xi Guohua, Chairman, China Mobile
- Ryan Ding, CEO, Carrier Business Group, Huawei
- Olivier Puech, President, Asia Pacific, Nokia
- Napoleon Nazareno, President and CEO, Smart Communications
- Shi Lirong, President, ZTE
Beyond the exciting keynote programme, Mobile Asia Expo will host focused breakout sessions providing essential insights on current and future trends impacting the ever-changing mobile industry. Topics to be addressed in the conference programme include Applications, Devices, Embedded Mobile, Mobile Advertising, Mobile Broadband, mHealth, Mobile Internet, Mobile Money, Mobile Operator Strategies, Network Evolution, NFC, Retail in Mobile and Social Media, among others.
At Mobile Asia Expo, leading companies from across the broad mobile ecosystem will be highlighting innovative products, services and solutions. Exhibitors currently confirmed to participate at Mobile Asia Expo include China Mobile, China Unicom, Datang Telecom Group, MasterCard, NEC, NTT DOCOMO, Panguso Corporation, Sprint, Visa, Yahoo! and ZTE, among others. China Mobile is the Platinum Event Sponsor for Mobile Asia Expo, and supporting partners for the event include China National Postaland Telecommunications Appliances Corp. (PTAC), Shanghai Communications Industry Association (SCIA) and the Telecommunication Terminal Testing Technology Association.
About the GSMAThe GSMA represents the interests of mobile operators worldwide. Spanning more than 220 countries, the GSMA unites nearly 800 of the world's mobile operators, as well as more than 200 companies in the broader mobile ecosystem, including handset makers, software companies, equipment providers, Internet companies, and media and entertainment organisations. The GSMA also produces industry-leading events such as the Mobile World Congress and Mobile Asia Expo.
For more information, please visit the GSMA corporate website at www.gsma.com or Mobile World Live, the online portal for the mobile communications industry, at www.mobileworldlive.com
Editor's note: For information on speakers, conference agenda, exhibition and other programmes at Mobile Asia Expo, please visit www.mobileasiaexpo.com.
American Express Reports 1.3 Million Q1 Net Income
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| (Photo credit: Wikipedia) |
April 19, 2012 02:00 AM Eastern Daylight Time
American Express Reports First Quarter EPS of $1.07, up 10% from a Year Ago; Revenues and Cardmember Spending Rise, Credit Quality Remains Excellent
NEW YORK--()--
(Millions, except per share amounts)
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| Quarters Ended
March 31,
| Percentage
Inc/(Dec)
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| 2012 | 2011 | ||||||||||||
| Total Revenues Net of Interest Expense | $ 7,614 | $ 7,031 | 8 | % | |||||||||
| Net Income | $ 1,256 | $ 1,177 | 7 | % | |||||||||
| Earnings Per Common Share – Diluted: | |||||||||||||
Net Income Attributable to Common Shareholders1
| $ 1.07 | $ 0.97 | 10 | % | |||||||||
| Average Diluted Common Shares Outstanding | 1,166 | 1,198 | (3 |
)%
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| Return on Average Equity | 27.1% | 27.9% | |||||||||||
1 Represents net income, less earnings allocated to participating share awards of $14 million for both the three months ended March 31, 2012 and 2011.
Consolidated total revenues net of interest expense rose 8 percent to $7.6 billion in the first quarter of 2012, from $7 billion a year ago. The increase reflects strong cardmember spending and higher net interest income driven by moderate growth in the loan portfolio.
Consolidated provisions for losses totaled $412 million, up from $97 million a year ago. This increase reflects a larger lending reserve release in the year ago period, partially offset by lower net write-offs in the current quarter. Credit quality continued to be at historically strong levels.
Consolidated expenses totaled $5.4 billion, up 4 percent from $5.2 billion a year ago. The increase primarily reflects higher salaries, employee benefits and other operating expenses, which were partially offset by lower marketing, promotion and rewards expenses. In the year ago period, consolidated expenses were reduced by the receipt of settlement payments from MasterCard and Visa totaling $220 million.
The effective tax rate was 29 percent, down from 32 percent in the year ago quarter. The tax rate reflects the realization of certain foreign tax credits.
The company's return on average equity (ROE) was 27.1 percent, down from 27.9 percent a year ago.
“Higher cardmember spending, excellent credit metrics and disciplined expense management helped us to start 2012 with record first-quarter earnings and revenues,” said Kenneth I. Chenault, chairman and chief executive officer. “Spending on the American Express network rose 12 percent, remaining strong throughout the quarter, both in the U.S. and internationally. Credit quality continues to be among the best we have ever experienced, and our lending portfolio continued to grow at moderate levels.
“The underlying strength of the business allowed us to add to the competitive advantages of our card products and introduce new digital services that create value for merchants and customers who choose to pay with American Express.
“Coming into the quarter, we wanted to be particularly vigilant in managing discretionary expenses. We knew we wouldn't have the same benefit from reserve releases and settlement payments from Visa or MasterCard that we had received last year. We were also concerned about the uneven recovery in the U.S. and a European environment that posed challenges to the global economy.
“While credit quality and business conditions stayed favorable, we maintained our focus on containing costs and kept the growth rate in total expenses well below that of our revenues.
“Our overall performance again underscored the advantages of our spend-centric business model, as did the results of a financial review, or stress test, of major financial companies that was completed by the Federal Reserve this quarter. American Express ranked among the highest in the group, and the Fed notified us that it had no objections to raising our quarterly dividend or repurchasing shares.
“As a result, we increased our quarterly dividend by 11 percent to $0.20 per share, from the $0.18 level that we maintained throughout the financial crisis and recession. We are also moving ahead with plans to repurchase as much as $4 billion of outstanding shares this year and an additional $1 billion in the first quarter of 2013.”
Segment Results
U.S. Card Services reported first-quarter net income of $752 million, up 35 percent from $555 million in the year ago period.
Total revenues net of interest expense increased 9 percent to $3.9 billion from $3.6 billion a year ago. The increase was driven by higher cardmember spending and higher net interest income.
Provisions for losses totaled $301 million, up from $47 million in the year ago period. The increase primarily reflects a larger lending reserve release in the year ago period, partially offset by lower net write-offs in the current quarter.
Total expenses decreased 8 percent from the year ago period when expenses reflected an elevated level of investment spending and higher costs associated with the Membership Rewards program. First quarter marketing, promotion, rewards and cardmember services expenses decreased 14 percent from the year ago period. Salaries and employee benefits and other operating expenses increased 3 percent from year ago levels.
The effective tax rate was 36 percent compared to 39 percent in the year ago period.
International Card Services reported first-quarter net income of $197 million, up 4 percent from $189 million in the year ago period.
Total revenues net of interest expense increased 8 percent to $1.3 billion, from $1.2 billion, reflecting higher cardmember spending and revenues related to Loyalty Partner, a business acquired on March 1st of last year.
Provisions for losses totaled $54 million, up from $5 million a year ago. The increase primarily reflects larger reserve releases in the year ago period.
Total expenses increased 9 percent. The increase primarily reflects higher volume-related rewards costs and expenses associated with Loyalty Partner. Marketing, promotion, rewards and cardmember services expenses increased 13 percent from year ago levels. Salaries and employee benefits and other operating expenses increased 6 percent from year ago levels.
The effective tax rate was (1) percent compared to 21 percent in the year ago period. The tax rates in both quarters reflect recurring permanent tax benefits allocable to the segment. In addition, the current period tax rate reflects the realization of certain foreign tax credits.
Global Commercial Services reported first-quarter net income of $177 million, down 4 percent from $184 million in the year ago period.
Total revenues net of interest expense increased 3 percent to $1.2 billion, from $1.1 billion, reflecting increased spending by corporate cardmembers, partially offset by higher client incentives and lower travel commissions and fees.
Provisions for losses totaled $35 million, up from $23 million in the year ago period, reflecting higher net write-offs.
Total expenses increased 5 percent. Marketing, promotion, rewards and cardmember services expenses increased 23 percent from the year ago period, primarily reflecting higher volume-related rewards costs. Salaries and employee benefits and other operating expenses increased 2 percent from the year ago period.
The effective tax rate was 27 percent compared to 31 percent in the year ago period. The current period tax rate reflects the realization of certain foreign tax credits.
Global Network & Merchant Services reported first quarter net income of $357 million, up 14 percent from $313 million in the year ago period.
Total revenues net of interest expense increased 10 percent to $1.2 billion, from $1.1 billion, reflecting higher merchant-related revenues driven by an increase in global cardmember spending, as well as an increase in revenues from Global Network Services’ bank partners.
Total expenses increased 8 percent. Marketing, promotion, rewards and cardmember services expenses increased 4 percent from the year ago period. Salaries and employee benefits and other operating expenses increased 9 percent from the year ago period.
The effective tax rate was 34 percent for both the current and year ago period.
Corporate and Other reported first-quarter net loss of $227 million compared with net loss of $64 million in the year ago period. The results for the prior period included income of $220 million ($136 million after-tax) for the previously announced MasterCard and Visa settlements.
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