Wednesday, February 2, 2011

VeriFone to Report First Quarter Fiscal 2011 Results on March 1, 2011

Earnings Webcast and Call after Close of Trading
SAN JOSE, Calif.--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY), will release its financial results for the first quarter of fiscal 2011 after the market closes on March 1, 2011.
The management of VeriFone will host a conference call to review the financial results on March 1, 2011, at 1:30 pm (PST). In addition to discussing VeriFone's first quarter results, management may provide forward looking guidance on the call.
To access the audio webcast with slides, please go to VeriFone's website (http://ir.verifone.com) at least ten minutes prior to the call to register. The recorded audio webcast will be available on VeriFone's website until March 8, 2011.
To access the live conference call, the dial-in numbers are as follows:
Domestic callers: 800.599.9816
International callers: +1.617.847.8705
Passcode: 3951 6100
A replay of the conference call will be available until March 8, 2011, with the following dial-in numbers:
Domestic callers: 888.286.8010
International callers: +1.617.801.6888
Passcode: 1038 3460
http://www.verifone.comAdditional Resources:
http://ir.verifone.com
About VeriFone Systems, Inc. (www.verifone.com)
VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

Contacts

VeriFone Systems, Inc.
Investor Contact:
Doug Reed – Vice President, Treasurer and Investor Relations
408-232-7979
ir@verifone.com
or
Editorial Contact:
Pete Bartolik
VeriFone Media Relations
508-283-4112
pete_bartolik@verifone.com
Permalink: http://www.businesswire.com/news/home/20110201005607/en/VeriFone-Report-Quarter-Fiscal-2011-Results-March
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Discover® U.S. Spending MonitorSM Consumer Confidence Jumps 5.6 Points in January to Three-Year High



Economic Confidence among Middle-Income Consumers Drives Record Increase in Monitor’s Index, but Consumer Spending Intentions Remain Flat

RIVERWOODS, Ill.--(BUSINESS WIRE)--Consumers’ confidence sharply rebounded in January, fueled by a surge in the number of middle-income consumers who see improvement in the U.S. economy and in their personal finances are improving, according to the Discover U.S. Spending Monitor.
http://www.discoverfinancial.com
“However, this appears to be a cautious optimism, as all consumers, regardless of income level, indicate they are more likely to save or invest their money rather than increase discretionary spending.”
The Monitor, a poll of 8,200 consumers tracking economic confidence and spending intentions on a daily basis, jumped a record 5.6 points in January to 93.1, the highest level of confidence since November 2007. For just the second time in a year, the number of consumers rating the economy as good or excellent reached double digits at 10 percent, up 1 point from December. More than half of consumers, 51 percent, still rate the economy as poor, though this number is down 5 points from the month before. Thirty-seven percent of consumers rate the economy as fair, a three-point increase from December.
Overall, 33 percent of U.S. consumers feel economic conditions are getting better, a 9-month high and 4-point increase from December. Only 40 percent feel the economy is getting worse, the lowest number reported since the Monitor’s inception in May 2007 and a decline of 4 points from the month before. Twenty-two percent of consumers feel economic conditions are unchanged, down 1 point from December.
Middle-Income Consumers Show Biggest Gains in Economic and Financial Confidence
The Monitor’s record monthly rise came with a surge in economic and financial confidence among middle-income consumers, i.e. those earning between $40,000 and $75,000 a year. Confidence indicators among this demographic include:
  • Fewer middle-income consumers rate the economy as poor: Fifty percent of middle-income consumers currently rate the economy as poor, down 11 points from December. Of those earning less than $40,000 a year, 59 percent rate the economy as poor, a 3-point decline from the month before. Consumers earning more than $75, 000 and rating the economy as poor also dropped in January, to 41 percent, 3 points less than December.
  • More middle-income consumers feel the economy is getting better: Thirty-two percent of middle-income consumers feel the economy is getting better, a 7-point increase from December. Just 24 percent of consumers earning less than $40,000 believe the economy is getting better, up 2 points from the month before. Forty-nine percent of those making more than $75,000 believe the economy is getting better, a 5-point increase from December.
  • Personal finances of middle-income consumers improve: Thirty-eight percent of middle-income consumers rate their finances as good or excellent, up 6 points from December. Seventeen percent of those earning less than $40,000 rate their finances the same way, up 4 points from the previous month. Of those earning more than $75,000, 51 percent rate their finances as good or excellent, up 2 points from December.
  • Fewer middle-income consumers feel their finances are declining: Only 40 percent of middle-income consumers feel their finances are getting worse, down 6 points from December and the lowest since October 2007. Fifty-seven percent of those consumers earning less than $40,000 feel their finances are getting worse, a 1-point decline from last month. Twenty-nine percent of those earning more than $75,000 feel their finances are getting worse, unchanged from December.
Consumers’ Discretionary Spending Intentions Remain Flat; Saving, Investing Intentions Rise
Despite the brightening economic and financial outlook from consumers, their discretionary spending intentions remained flat in January. Just 7 percent expect to spend more on going out to dinner or the movies, down 1 point from December. Twelve percent of consumers expect to spend more on home improvements, unchanged from December. Only 10 percent expect to spend more on travel or a health club membership, down 1 point from December.
But more consumers are expecting to increase their savings and investments. Sixty-two percent of consumers say they plan on putting away the same or more money in the month ahead, the highest number reported since October 2007.
“Consumers at all income levels feel economic and financial conditions are improving, and none more so than middle-income consumers,” said Julie Loeger, senior vice president of brand and product management for Discover. “However, this appears to be a cautious optimism, as all consumers, regardless of income level, indicate they are more likely to save or invest their money rather than increase discretionary spending.”
Only 35% Expecting an Added Expense or Loss of Income in the Month Ahead
With the surge in economic confidence, the Monitor reported a 12-month low in the number of consumers (35 percent) who anticipate an added expense or income shortfall in the month ahead. For just the third time in the last year, half of consumers were not expecting an added expense or income shortfall next month.
Though less worried about additional expenses, only 47 percent of consumers expected to have money left over after paying monthly bills, the 22nd consecutive month this number has been below 50 percent.
Eighty percent of those who do have money left over after paying monthly bills planned on having the same or more money left over than the previous month, erasing last month’s 7-point drop.
For more Discover U.S. Spending Monitor survey data, charts and information, please visit www.discoverfinancial.com/surveys/spending.shtml.
About Discover U.S. Spending Monitor
The Discover® U.S. Spending MonitorSM is a monthly index of consumer spending intentions and capacity that is based on interviews with a random sample of 8,200 U.S. adults conducted at a rate of 275 per night. In addition to spending, the survey asks consumers their opinions on the U.S. economy and their personal finances. The Monitor began in May 2007 with a base index of 100. Surveys are conducted by Rasmussen Reports, an independent survey research firm (www.rasmussenreports.com).
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discoverfinancial.com.

Contacts

Discover
Matthew Towson
224-405-5649
matthewtowson@discover.com
Permalink: http://www.businesswire.com/news/home/20110202005155/en/Discover%C2%AE-U.S.-Spending-MonitorSM-Consumer-Confidence-Jumps
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First Data Reports Fourth Quarter and Full-Year 2010 Financial Results



  • Full-year 2010 consolidated revenue of $10.4 billion, up 11%; Adjusted revenue of $6.4 billion, up 3%
  • Signed long-term credit processing agreement with Kohl’s Department Stores
  • Generated $755 million in operating cash flow in 2010 and ended the quarter with $2.0 billion in unrestricted liquidity
  • Extended maturities on $6.5 billion of outstanding debt to 2020 and beyond
ATLANTA--(BUSINESS WIRE)--First Data Corporation today reported its financial results for the fourth quarter and full year ended Dec. 31, 2010. Consolidated revenue for the fourth quarter of $2.7 billion was up 6% compared to a year ago. Revenue growth was primarily attributable to increases in debit network fees and merchant related services from the favorable impact of modest U.S. economic growth. Adjusted revenue, which excludes reimbursables, increased 1% year-over-year to $1.7 billion.
http://www.firstdata.com
“As we start a new year, First Data is focused on increasing profitability by driving revenue in the U.S. and key markets in Latin America and Asia, managing through U.S. regulatory changes, and improving operational efficiency in Europe.”
For the fourth quarter, the net loss attributable to First Data was $179 million, a year-over-year improvement of $189 million. The year-over-year net income comparison was impacted by both asset impairments and restructuring charges in 2009. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was $564 million compared to $530 million in the fourth quarter of 2009, driven primarily by 25% EBITDA growth in the Retail and Alliance Services segment.
Consolidated revenue for the full year 2010 was up 11% to $10.4 billion due to the formation of the Bank of America Merchant Services alliance and increases in debit network fees. Full-year adjusted revenue increased 3% to $6.4 billion due in large part to revenue growth in Retail and Alliance Services. The full-year net loss attributable to First Data was $1.0 billion, a year-over-year improvement of $65 million. For 2010, adjusted EBITDA was $2.0 billion compared to $2.1 billion for 2009.
First Data generated $755 million in operating cash flow, after interest payments of $1.5 billion, for the full year and finished the year with $2.0 billion in unrestricted liquidity—$242 million in cash available for corporate use plus $1.7 billion under the line of credit.
“We are encouraged by the solid growth in our U.S. merchant acquiring business driven by an improving economy and related consumer spending,” said Jonathan J. Judge, chief executive officer. “As we start a new year, First Data is focused on increasing profitability by driving revenue in the U.S. and key markets in Latin America and Asia, managing through U.S. regulatory changes, and improving operational efficiency in Europe.”
Segment Results
Retail and Alliance Services segment revenue of $873 million increased 7% in the fourth quarter of 2010 compared to 2009. Revenue growth was driven by transaction growth of 9% and continued cross-selling of complementary products including prepaid card and point-of-sale equipment. Credit mix improved year-over-year to 72% and regional average ticket was $69, down 3% compared to the same quarter a year ago. Segment EBITDA was $373 million, up $74 million or 25% compared to 2009 as a result of revenue growth, lower incentive compensation accruals and reduced credit losses and net check warranty expense. Margin for the fourth quarter was 43%. During the quarter, Retail and Alliance Services added six new revenue sharing agreements, eight referral agreements, and nine new independent sales organizations.
Reflecting improved consumer spending and secular trends in electronic payments, full-year Retail and Alliance Services segment revenue was $3.3 billion, up 8%. Revenue growth was driven by 10% transaction growth (excluding the effects of the Bank of America Merchant Services alliance), cross-selling of complementary products, and the expansion of merchant distribution channels adding 11 new revenue sharing agreements, 38 referral agreements, and 64 new independent sales organizations. For 2010, segment EBITDA was $1.3 billion, up 11% compared to the previous year, and margin improved to 40%.
Financial Services segment revenue for the fourth quarter was $358 million, up 1% compared to the same quarter of 2009, resulting from the prospective inclusion of Information Services beginning Jan. 1, 2010. Adjusted for the prospective inclusion of Information Services, revenue declined 2% as new business and growth in debit transaction volumes were offset by pricing pressures, customer losses and a 2% decline in active card accounts on file. Debit issuer transactions were up 10% excluding the impact of the loss of Washington Mutual. Segment EBITDA was $141 million, down $7 million compared to 2009, due to revenue pressures mentioned above and increased operations and technology expenses. Margin for the fourth quarter was 39%. During the quarter Financial Services renewed 347 contracts.
Full-year Financial Services segment revenue was $1.4 billion, down 2% compared to 2009. Growth from new business was more than offset by lost business, most significantly Washington Mutual, and price compression on certain contract renewals. Segment EBITDA for 2010 was $553 million, compared to $645 million for 2009, due to lower revenue and an increase in technology costs. Margin was 39%.
International segment revenue for the fourth quarter was $440 million, down 3% compared to the prior year. On a constant currency basis, segment revenue was essentially flat. Revenue increases in the merchant acquiring business were offset by declines in the card issuing business. Merchant acquiring growth came from growth in bank alliances in Europe, pricing improvements in Argentina and a new alliance in India. The card issuing business decline was due to lost business and price compression from renewing long-term contracts and reduced demand. The year-over-year revenue comparison was also unfavorably impacted by termination fees and software licensing payments received in the prior year of $9 million. Segment EBITDA was $96 million, compared to $122 million in the same quarter of 2009 and margin was 22%. The year-over-year change in segment EBITDA was negatively impacted by the revenue items in the prior year described above and increased expenses in the European operations, partially offset by lower incentive compensation accruals in 2010.
Full-year International segment revenue was $1.6 billion, up 3% compared to 2009. Segment revenue on a constant currency basis was up 2%. Segment EBITDA was $330 million, compared to $399 million for 2009. Margin was 20%. Segment EBITDA was negatively impacted by increased expenses in the European operations, including asset write-offs in the second and third quarters and higher incentive compensation accruals.
Recent Events
First Data Positions for Payments Industry’s Changing Landscape
On Jan. 13, 2011, First Data announced that it has consolidated the operations and management of its North American business and its business outside North America through the leadership of two executives. The company made these changes in order to serve its customers better and position the company for regulatory changes and other recent developments impacting the dynamic payments industry. Ed Labry was named President, First Data – North America. And the company started a search for an executive to lead its business outside North America. In the interim, Executive Vice President John Elkins is leading the company’s business in the Asia Pacific; Europe, the Middle East and Africa; and Latin America regions.
Kohl’s
On, Jan. 20, 2011, First Data announced it has entered into an agreement with Kohl’s Department Stores (NYSE: KSS) to provide payment processing services for the company’s private brand credit card accounts.
The multi-year agreement calls for First Data to provide Kohl’s with credit card processing, customer analytics, risk management services and automated customer service workflow tools. Kohl’s partnership with First Data will not affect Kohl’s current credit card arrangement with Chase or the company’s previously announced agreement with Capital One.
Private Debt Exchange for Certain Debt Securities
On Dec. 17, 2010, First Data announced the expiration and final results of private exchange offers in which the company offered to exchange $6 billion of certain debt securities due in 2015 for debt securities due in 2021 and 2022. These exchanges allowed the company to extend its borrowings and improve the company’s overall capital structure without taking on significant additional interest expense. This followed the successful August 2010 issuance of $510 million in senior secured notes due in 2020, which refinanced existing debt and extended the company’s debt maturity profile.
TransArmor
On Dec. 16, 2010, First Data announced that more than 100,000 U.S. merchants of all sizes are now securely processing transactions with the First Data® TransArmorSM solution. This revolutionary payment security service safeguards customers' payment card data through a combination of encryption, tokenization and key management technologies, and became publicly available in September. As of mid-December, over 44 million transactions had been processed using TransArmor.
eGift Social
On Dec. 16, 2010, First Data announced that 10 merchants, including Kmart®, Sears®, Sephora, BURGER KING® and Cold Stone Creamery, are offering eGifting programs powered by the First DataTM eGift SocialSM solution. eGift Social is a Facebook application that allows consumers to quickly and easily send a tangible gift (e.g. burger, milkshake, makeup) or virtual gift card to a friend’s Facebook account or e-mail address.
Non-GAAP Measures
In certain circumstances, results have been presented that are non-GAAP (generally accepted accounting principles) measures and should be viewed in addition to, and not in lieu of, the company's reported results. Reconciliations to comparable GAAP measures are available in the accompanying schedules and in the "Investor Relations" section of the company's website atinvestor.firstdata.com.
Investor Conference Call
The company will host an investor conference call and webcast on Wednesday, Feb. 2, 2011 at 10 a.m. ET to review fourth quarter and full-year 2010 financial results. Ray Winborne, First Data chief financial officer, will lead the call. Joining him for Q&A will be Jon Judge, CEO and Ed Labry, president of First Data – North America and John Elkins, executive vice president.
The call will be webcast on the “Investor Relations” section of the First Data website at investor.firstdata.com and a slide presentation will accompany the call.
To listen to the call via teleconference, dial 866-730-5765 (U.S.) or 857-350-1589 (outside the U.S.), pass code 67499535.
A replay of the call will be available through Feb. 16, 2011, at 888-286-8010 (U.S.) or 617-801-6888 (outside the U.S.), pass code 50059414, and via webcast at investor.firstdata.com.
Please note: All statements made by First Data officers on this call are the property of First Data and subject to copyright protection. Other than the replay, First Data has not authorized, and disclaims responsibility for, any recording, replay or distribution of any transcription of this call.
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
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Visa to Run Ads on Dangers of Capping Debit Card Fees


Visa and MasterCard are planning to run advertisements on the perils of new debit card fee restrictions, the Financial Times reported, citing people familiar with the plan.

The two payments companies are working with debit card issuers large and small to persuade public opinion against the cap that’s expected to cost the financial services industry about $12 billion annually.


Read more: Visa to run ads on dangers of capping debit card fees | San Francisco Business Times 



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Global Payments Announces Second Quarter Dividend

ATLANTA, Feb. 1, 2011 /PRNewswire/ -- Global Payments Inc. (NYSE: GPN), a leader in electronic transaction payment processing, announced today that its board of directors approved fiscal 2011 second quarter dividend of $0.02 per common share payable February 28, 2011 to shareholders of record as of February 14, 2011.    
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 States, Canada, Europe, 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.

Contact: Jane M. Elliott
770-829-8234
SOURCE Global Payments Inc.
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Tuesday, February 1, 2011

CardNET Brings VeriFone’s VeriShield Total Protect to Dominican Republic

Largest Card Processor in Country Ensures it is the Most Secure with VeriFone’s Card Data Encryption Solution

SAN JOSE, Calif.--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY), today announced that Consorcio de Tarjetas Dominicanas, S.A. (CardNET), the largest card transaction processor in the Dominican Republic, is the first customer in the Latin America and Caribbean region for VeriShield Total Protect secured by RSA.
http://www.verifone.com
“VeriFone’s leadership in secure payment systems is without question the best in the market, so we are extremely confident that the utilization of VeriShield Total Protect, secured by RSA, will make CardNET one of, if not the most, secure card processing operations in this region”
CardNET processes an estimated 80 percent of the total value of card transactions in the country and will utilize VeriShield Total Protect to implement end-to-end encryption of card data. RSA, The Security Division of EMC (NYSE: EMC), and VeriFone in 2010 announced a strategic partnership to market their end-to-end encryption and tokenization solutions as an integrated payment security offering. With VeriShield Total Protect, cardholder information is encrypted at the exact instant of acceptance and encrypted throughout the enterprise until it is transmitted to a secure decryption server, eliminating any risk of usable cardholder data being compromised by a data breach.
“CardNET is to be commended for leading the region in employing the most secure card processing solution available today,” said Gustavo Jimenez, Vice President and General Manager of Integrated Systems for VeriFone Latin America & the Caribbean. “VeriShield Total Protect, secured by RSA, is already the de facto industry standard for card protection in the United States and on its way to achieve the same status in Latin America and the Caribbean.”
CardNET selected VeriShield Total Protect following an extensive competitive review and determined that VeriFone’s solution provided for the most secure operations, incorporates the best manageability and monitoring capabilities, and ensures access to VeriFone’s expertise and best practices in card data security.
“VeriFone’s leadership in secure payment systems is without question the best in the market, so we are extremely confident that the utilization of VeriShield Total Protect, secured by RSA, will make CardNET one of, if not the most, secure card processing operations in this region,” said Eduardo Del Orbe, Executive Vice President of CardNET.
VeriFone’s patented, format-preserving VeriShield Hidden Encryption (VHE) uses sophisticated AES encryption and enables existing payment applications to deal with encrypted cardholder data that is unusable by hackers, but does not impact existing transaction message formats. That makes it possible to integrate VeriShield Total Protect without costly changes to existing POS, back-office and acquirer software.
About VeriFone Systems, Inc. (www.verifone.com)
VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

Contacts

VeriFone Media Relations
Pete Bartolik, 1-508-283-4112
pete_bartolik@verifone.com
Permalink: http://www.businesswire.com/news/home/20110131005572/en/CardNET-Brings-VeriFone%E2%80%99s-VeriShield-Total-Protect-Dominican
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Visa Inc: Dallas Cowboys' Felix Jones and Tashard Choice, Chicago Bears' Matt Forte and Lance Briggs Kick off Super Bowl XLV Week with a Game of 'Financial Football'

Join Visa Inc. to Showcase Money Management Video Game for Texas Students

DALLAS, Jan. 31, 2011 /PRNewswire/ --  Visa Inc., the NFL and NFL PLAYERS, running backs Felix Jones and Tashard Choice of the Dallas Cowboys, Chicago Bears wide receiver Matt Forte as well as Bears linebacker Lance Briggs kicked off Super Bowl XLV week today by playing a different type of football – "Financial Football."  Together, they showcased an effort to improve the money management skills of Texas teenagers by playing a lively game of "Financial Football," an interactive money management video game with an NFL theme.
The centerpiece of Visa's nationwide educational initiative with the NFL and NFL PLAYERS, "Financial Football" puts students' fiscal knowledge to the test by combining the structure and rules of the NFL with financial education questions of varying difficulty.  To score points, a team needs to answer a series of money management questions correctly.  Wrong answers and penalties can cost a team yardage.
The free game is available online at www.practicalmoneyskills.com/football.  Visa also released the game as a free iPhone app on iTunes, along with an optimized HD iPad version.
Jones, Choice, Forte, Briggs and Visa officials gathered to spotlight the game today at the Sheraton Dallas Hotel & Conference Center.  The NFL PLAYERS shared their personal experiences on the importance of money management with students from Macarthur High School and Pearland High School. All four NFL PLAYERS then rolled up their sleeves and coached student teams through a lively game of "Financial Football."  
"High school kids need to know how to make smart money management decisions before heading off to college or entering the workforce," said Felix Jones.  "It takes the combined efforts of parents, teachers, and mentors within the community to give teenagers a strong background in personal finance."
"It doesn't matter whether you make minimum wage or millions," added Matt Forte.  "If you don't learn to budget, save, invest and pay bills on time, the consequences can be overwhelming."
This launch is part of a national educational campaign with Visa, the NFL and NFL PLAYERS, now in its sixth season.  Since 2006, Visa has reached agreements with twenty-nine states, including Texas, to distribute the "Financial Football" game to public high schools statewide for free.  The other states are Arizona, California, Colorado, Connecticut, Florida, Hawaii, Illinois, Indiana, Iowa,Kansas, Kentucky, Louisiana, Maine, Massachusetts, Mississippi, Missouri, Nevada, New Hampshire, New York, North Dakota, Ohio,Pennsylvania, Rhode Island, South Carolina, South Dakota, Vermont, West Virginia, and Wisconsin.
"For over a decade, Visa has been committed to promoting financial literacy and we are proud to have Felix Jones, Tashard Choice,Matt Forte and Lance Briggs with us as we work to promote the importance of financial education," said Nancy Panter, Manager of Corporate Relations, Visa Inc.  
"Financial Football" is part of Practical Money Skills for Life (www.practicalmoneyskills.com) a free, award-winning financial education program that reaches millions of people around the world each year. Launched in 1995, the program is now available in ten languages in more than thirty countries.  At Practical Money Skills for Life, educators, parents and students can access free educational resources including personal finance articles, games, lesson plans, and more.  Visa also runs What's My Score(www.whatsmyscore.org), a leading higher education consumer awareness program.
About Visa Inc.
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks—VisaNet—that is capable of handling more than 10,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visitwww.corporate.visa.com. Corporate
SOURCE Visa Inc.
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Visa to Run Ads on Dangers of Capping Debit Card Fees


Visa and MasterCard are planning to run advertisements on the perils of new debit card fee restrictions, the Financial Times reported, citing people familiar with the plan.

The two payments companies are working with debit card issuers large and small to persuade public opinion against the cap that’s expected to cost the financial services industry about $12 billion annually.


Read more: Visa to run ads on dangers of capping debit card fees | San Francisco Business Times 



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Yodlee Announces Global Adoption of Financial Services Platform

Yodlee 10 powers growth of online banking and payment services in Europe and beyond

REDWOOD CITY, Calif. and LONDON, Feb. 1, 2011 /PRNewswire/ -- Yodlee, Inc., the leading provider of online personal financial management (PFM) and revenue-generating payments solutions and services, announced details of the rapid adoption in Europeof its Yodlee 10 platform in conjunction with its presentation at FinovateEurope in London today.
Powering PFM for more than 26 million individuals across the globe, Yodlee combines traditional PFM and payments with the new Yodlee FinApp Store— a financial services application marketplace—to create a personalized and actionable online and mobile money management experience. Yodlee's European business grew dramatically in 2010, with a number of major European banks choosing Yodlee for their PFM requirements. Continuing the trend in the U.S., Yodlee is powering several of the products and services being demonstrated at FinovateEurope.
Consumers' quest for financial management tools that provide actionable control has quickly become a global phenomenon. The desire for centralised online PFM among UK-based financial decision-makers was clearly demonstrated in a recent Yodlee survey, wherein 61% of respondents said that they would be likely to use PFM services offered through a bank or building society. With an estimated 95 million online banking users in Europe and about one in eight Europeans with a mobile phone using mobile banking today(1), the opportunity for PFM is unmistakable. In fact, more than 80% of online banking households reside outside the United States, according to Online Banking Report.
With Yodlee 10 and the Yodlee FinApp Store, European banks and financial services providers have the freedom to innovate and deploy solutions quickly so they can engage customers who might otherwise be overwhelmed by the complexity of monitoring and managing accounts for checking, savings, credit, debit, personal loans, and rewards programs. Yodlee 10 also empowers a personalized online and mobile experience, since nothing is more personal, or individual, than a person's finances.
"Yodlee is committed to working with banks and financial services providers in Europe because we recognise the immense and largely untapped market opportunity," said Jason O'Shaughnessy, Yodlee's Managing Director, EMEA. "As European consumers clamour for tools that are effective and secure, demand for Yodlee's platform has increased exponentially. Given European consumers' desire for mobile solutions, we are particularly pleased to deliver an intuitive, insightful and practical solution online and via mobile devices."
Yodlee will be debuting two new Yodlee FinApp capabilities at FinovateEurope: a secure document and image storage vault, and a conversion tool for porting outside financial data (e.g., from other services or desktop tools) into the online PFM experience.
For more information, visit www.yodlee.com.
About Yodlee
Leading financial institutions and portals trust Yodlee to power critical online banking applications that increase profitability and drive more value from the online channel. Yodlee's proven, patented personal financial management, payments, and customer acquisition solutions unify all personal financial account information to deliver a simple, centralized and secure way for consumers to manage all of their financial tasks anytime, anywhere. Yodlee makes financial institutions' websites essential to their customers and generates new deposit and revenue opportunities. Yodlee's patented data, payments and risk management utility supports more than 12,000 unique account sources and over 120,000 different account types. More than 300 leading financial institutions and portals offer Yodlee-powered solutions to millions of customers worldwide. Yodlee is headquartered in Redwood City, California. For more information, visit www.yodlee.com.
(1) Forrester Research, "The State Of Mobile Banking In Europe 2010: Mobile Banking's Time Has Finally Come"
Yodlee, Yodlee 10, and Yodlee FinApp Store are trademarks or registered trademarks of Yodlee, Inc.  
SOURCE Yodlee, Inc.
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