Cachet Financial Launches Mobile Solution for Prepaid and Check Cashing Industries

Remote Deposit Platform Is Ideal Fit for Developing Markets

MINNEAPOLIS, July 27, 2011 /PRNewswire/ -- Cachet Financial Solutions, a leading provider of remote deposit capture (RDC) solutions, is taking its RDC platform to new heights.  Specifically, Cachet will target the growing market for mobile check cashing and reloadable prepaid cards, which traditionally serve a large portion of the U.S. unbanked and under-banked population.  Several financial service organizations will begin offering Cachet's mobile check capture solution to their customers by the end of the third quarter of this year.

Previously, RDC technology was directed toward banks and credit unions.  Now thanks to Cachet's proprietary technology, robust demand for mobile financial services, and changing customer preferences and demographics, the check cashing and prepaid card industries are poised to participate in remote checking technologies.

Cachet currently offers a full suite of RDC solutions, including a front-end, mobile check loading application for the Android, Blackberry, iPhone smartphones and tablets.  The application can be branded for check cashers, program managers and processors to allow their customers to be able to load checks on their prepaid debit cards.  Cachet also offers a back-end product (CheckReview) that allows check cashers and load solution providers to review high-resolution images of the check's front and back with full image quality analysis, CAR/LAR and Virtual MICR detection.  Cachet has developed an API which allows the check cashers to import the information into their risk/fraud mitigation tools or central database for decision/guarantee purposes.

The foundation of Cachet's mobile check capture application is convenience and simplicity for the consumer.  Mobile check capture allows consumers to load checks onto their prepaid card using their camera-equipped smartphone or tablet.  Users can load checks from anywhere at any time, allowing for quicker access to funds on their reloadable prepaid cards.  Cachet's mobile check capture is easy to use.  Users simply click the branded application on their smartphone or tablet, endorse the check, agree to any applicable fees and snap photos of the front and back of each check that is being submitted.

"Cachet is one of the few RDC companies that understands the dynamics of this industry and has both a front-end and mobile solution and a back-end check imaging/verification solution for the various solution providers," said Jeffrey Mack, President and CEO of Cachet Financial Solutions.  "Our strategy is to create strategic partnerships with the program managers, processors, check cashers and guarantors/loaders.  We believe there is a great opportunity in this space and we're poised to take the lead in it."

Cachet's strategy comes at a perfect time as industry data shows more and more consumers are moving away from traditional banking relationships in favor of alternative financial services such as check cashers and reloadable prepaid cards.  According to a 2009 FDIC National Survey, over 25% of U.S. households are under-banked or unbanked and that number appears to be rising as a result of the recent economic troubles.  According to research by Mercator Advisory Group, Americans will put an estimated $70.7 billion on reloadable prepaid cards this year.  That's a 153% increase from the $28 billion loaded onto the cards in 2009.

"Our technology allows us to develop and execute a host of solutions for a variety of financial organizations - from check cashing companies to reloadable prepaid card issuers and processors," said Mack.  "Financial service providers have to develop new methods to retain and satisfy their customers, and mobile check capture is just another example of that initiative.  We are proud of our work and will continue to innovate and develop new solutions on behalf of our customers."

About Cachet Financial Solutions

Cachet Financial Solutions is a leading provider of commercial and consumer remote deposit capture (RDC) solutions for financial organizations and their customers.  RDC Select™, our fully integrated, customized solution, is a unique platform that eliminates the need for financial organizations to build and manage their own RDC business. Cachet's web-based business solution (available for both Mac & Windows operating systems) along with our mobile application (available on iPhones, BlackBerrys, Androids and tablets) provide financial organizations greater freedom and flexibility when providing RDC to their customers.  Our industry-leading platform has been designed to simplify the process for delivering, implementing and servicing RDC.  Cachet's sophisticated marketing strategy and professional sales training program ensures our customers are successful with their RDC initiatives.  Let us help you Unleash the power of RDC!™ For more information call 877.318.4449 or visit www.cachetfinancial.com.

SOURCE Cachet Financial Solutions

Bankers' Bank of Kentucky Provides ProfitStars' Payment Solutions

Image via CrunchBase

Relationship supports community banks with greater access to technologies for automating payments management and ACH processing -

MONETT, Mo., July 27, 2011 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY), a leading provider of computer systems and electronic payment solutions primarily for financial services organizations, today announced that the Bankers' Bank ofKentucky has partnered with its ProfitStars® division to offer the OnNet™, ACH Client™, and ACH Manager™ solutions to the more than 200 community banks it serves throughout five states.

Bankers' Bank of Kentucky provides services to community institutions, ranging in asset size from approximately $30 million to $1.5 billion, that would likely be unavailable to them independently. Through its relationship with ProfitStars, these bank clients and their customers are receiving greater access to the payments services necessary to optimize their everyday business opportunities. Bankers' Bank of Kentucky selected ProfitStars' solutions because of their proven ability to positively impact fee income, generate ongoing cost savings, and drive greater processing efficiencies.

Lynn Ellis, first vice president of marketing for Bankers' Bank of Kentucky, said, "Community institutions require robust payments technologies that enable them to effectively compete with larger banks. With ProfitStars' OnNet, ACH Client, and ACH Manager solutions, they can enhance their own performance and ultimately contribute to their financial stability as well as future growth potential."

ProfitStars' OnNet solutions deliver configurable online processes for managing payments, settlement, respondent-to-respondent clearing (R2R), electronic data workflow, and communications between correspondent organizations and their respondents, the Federal Reserve, and other end points. ACH Client is an Internet-based origination solution that delivers the ACH services that commercial clients demand, including direct payroll deposit and direct debit for receivables. ACH Manager enables financial institutions to automate the processing of all outgoing and incoming ACH files as a convenient, fully secure ASP-hosted solution.

David Foss, president of ProfitStars, added, "Bankers' Bank of Kentucky recognizes what community banks need to perform at their best and maximize profitability. Delivering ProfitStars' trusted ACH processing and payments management solutions demonstrates its commitment to these institutions' near- and long-term success."

About ProfitStars

As a diverse, global division of Jack Henry & Associates, ProfitStars combines JHA's solid technology background with the latest breakthroughs in four performance-boosting solution groups – Financial Performance, Imaging & Payments Processing,Information Security & Risk Management, and Retail Delivery. Explore the power of ProfitStars-enhanced performance atwww.profitstars.com.

About Jack Henry & Associates, Inc.

Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,200 customers nationwide, and are marketed and supported through four primary brands. Jack Henry Banking™ supports banks ranging from de novo to mid-tier institutions with information processing solutions. Symitar™ is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs.iPay Technologies™ operates as a leading electronic bill pay provider supporting banks and credit unions with turnkey, highly configurable retail and small business electronic payment platforms.  Additional information is available at www.jackhenry.com.

Bank Customers Quick to Sign Up for Debit Rewards Programs - but Slow to Redeem, Reports Mintel Comperemedia

Image by Rob Enslin via Flickr

CHICAGO, July 26, 2011 /PRNewswire/ -- Debit rewards programs have often been touted as an easy way to gain and retain customers. But as banks eliminate debit rewards programs as a result of changing legislation, Mintel Comperemedia surveyed consumers on their debit reward behavior and attitudes. It seems debit card programs alone aren't likely to foster customer loyalty, as 47% of respondents who participate in a debit rewards program have never redeemed their points.

"Obviously, a couple different types of people fall into the group who never redeem debit rewards points — some are saving up for something bigger, while others simply haven't accumulated enough points," says Susan Wolfe, VP of financial services at Mintel Comperemedia. "However, a number of people participate in a debit rewards program because it's so easy to sign up but never use the program again. If so, it indicates that the rewards program isn't working as a way to instill loyalty."

Mintel Comperemedia segmented survey respondents into three groups: heavy (redeem about once a month), medium (redeem every few to every six months) and light (redeem once a year) redeemers. Thirty-six percent of heavy redeemers and 30% of medium redeemers, compared to 55% of light redeemers, would continue to use their debit card the same way if their bank eliminated their debit rewards program — further suggesting that debit rewards programs are not a strong incentive to stick with a particular banking institution.

"Overall, rewards aren't going away, and many banks will continue to offer and promote these programs," adds Susan Wolfe. "But we will see a shift in that rewards are offered as a benefit to different levels of customers and in that way, they will become part of an overall loyalty program — rather than just a debit rewards program."

The survey also assessed consumers' willingness to pay for a debit rewards program and found that 36% of heavy redeemers are willing to pay as much as $4/month for their debit reward program, while 61% would be willing to pay $1/month. Not surprisingly, it's those who redeem often who are most willing to pay extra for the benefits.

About Mintel Comperemedia

Mintel Comperemedia provides competitive intelligence for businesses looking to advance and improve their direct marketing strategy. Tracking direct marketing (including mail, email and print advertising) targeted at consumers, small businesses and insurance agents, Mintel Comperemedia offers a unique perspective on everything from banking trends to insurance trends to credit card statistics. For nearly 40 years, Mintel has provided insight into key worldwide trends, leading the industry for consumer, product and media intelligence. Follow Mintel on Twitter: http://twitter.com/mintelnews

SOURCE Mintel Comperemedia

TransUnion: Consumers Made $72 Billion More in Credit Card Payments Than Purchases

July 27, 2011 06:05 ET

Analysis Contradicts Belief That Balances Have Declined Primarily Because of Charge-Offs

CHICAGO, IL--(Marketwire - Jul 27, 2011) - A new TransUnion analysis found that consumers made an estimated $72 billion more in payments on their credit cards than purchases between the first quarters of 2009 and 2010. This is in contrast to the belief that charge-offs (where creditors write off debt that they deem is uncollectable as a loss) were the primary driver of lower credit card balances.

"Many people in the financial services industry believe charge-offs have been the leading factor in declining credit card debt since the start of the recession," said Ezra Becker, vice president of research and consulting in TransUnion's financial services business unit. "In fact, some have stated that charge-offs account for the entire change in card balances over the past two to three years. In reality, the dynamic is more complex. Our analysis shows that consumers have made a concerted effort to pay down their credit cards during these uncertain economic times."

Just five years prior to the TransUnion analysis, consumers had made an estimated $2.1 billion more in purchases than payments. That constitutes a nearly $75 billion turnaround in consumer payment dynamics from 2004 to 2009.

"This reversal is even more profound when you consider that alternative forms of revolving credit, e.g. home equity lines of credit, were far more accessible in 2004 than in 2009. So while charge-offs have played a major role in lower credit card debt levels, it was not the only factor. Consumers were also paying down their debt across the risk spectrum," added Becker.

On a per-borrower basis between Q1 2009 and Q1 2010, average credit card debt in the U.S. declined more than $600 from $5,776 to $5,165. As of the first quarter of 2011, average credit card debt per borrower stood at $4,679, representing a 10-year low.

A majority of consumers either current on their payments or less than 60 days delinquent saw declining balances in the analysis. This was evident across the credit risk spectrum. The analysis viewed anonymized credit files using the TransUnion Account Management 3.0 scoring model (150-900 scale).

Score Range (as of Q1 2009) - Percent of Consumers with Decreasing Balances801-850 - 58.30%
701-750 - 58.97%
601-650 - 54.98%
501-550 - 53.44%

"It is also important to note that the drivers of deleveraging on an incident basis are different at various points along that credit risk spectrum," continued Becker. "Charge-off is a more predominant driver of deleveraging among subprime consumers. Among prime consumers, paydown is the major factor. Although it sounds simple, this is critical insight for lenders: it allows them to better understand the preferences of various sub-segments of consumers and respond appropriately to each."

The TransUnion analysis of credit card deleveraging complements and adds additional insight into research conducted by the Federal Reserve on noncash payments. Released in December 2010, that study revealed that the use of credit cards to pay for purchases declined in 2009, and that debit card usage now exceeds all other forms of noncash payments¹.

This trend also was supported by an IBOPE Zogby International survey commissioned by TransUnion in early June. Approximately 55% of consumers said they chose to use their debit card over their credit card more than half the time when making daily purchases. In fact, 47% of respondents said they did so more than three out of four times. Another 8% of respondents said they chose to use their debit card over credit card 51-75% of the time.

"All things being equal, we believe that consumers, especially younger adults, will continue to have an increasing preference to use their debit cards over credit cards," said Steve Chaouki, group vice president in TransUnion's financial services business unit. "However, the credit/debit card landscape is still in transition. Regulatory and legislative proposals either currently under discussion or recently enacted will impact the industry significantly and could alter this payment preference trend. Thus, consumer credit use and behavior should be closely monitored in the coming years."

Study Methodology:The study reviewed data from TransUnion's database, the Federal Reserve G.19 report and interest rate information from Bankrate.com between Q1 2009 and Q1 2010 to perform the deleveraging analysis. Approximately 1.65 million credit card accounts that were less than 60 days past due as of the end of Q1 2009 were included in the study. Their balance trends were evaluated as of the end of Q1 2010, and delinquency was monitored over the intervening 12 months. The consumers holding these accounts were scored as of the starting date using the TransUnion Account Management 3.0 scoring model, so balance behavior could be analyzed across the risk spectrum.

¹http://www.frbservices.org/files/communications/pdf/press/2010_payments_study.pdf

About TransUnion As a global leader in information and risk management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering high quality data, and integrating advanced analytics and enhanced decision-making capabilities. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion reaches businesses and consumers in 23 countries around the world.www.transunion.com/business

iPayment Announces Conference Call to Discuss Second-Quarter 2011 Financial Results

July 27, 2011 11:24 AM Eastern Daylight Time 

NASHVILLE, Tenn.--(BUSINESS WIRE)--iPayment, Inc. today announced that its management will hold a conference call on Tuesday, August 16, 2011 at 10:00 a.m. (Eastern Time) to discuss its 2011 second-quarter results. To listen to the call, participants should dial 913-312-0399 approximately 10 minutes prior to the start of the call. A telephonic replay will become available after 12:00 p.m. (Eastern Time) on Tuesday, August 16, 2011 and continue through August 24, 2011 by dialing 719-457-0820 and entering Confirmation Code 2614480. The live broadcast of iPayment’s quarterly conference call will be available online at www.ipaymentinc.com or http://www.videonewswire.com/event.asp?id=81167 on August 16, 2011 beginning at 10:00 a.m. (Eastern Time). The online replay will be available at approximately 12:00 p.m. (Eastern Time) and continue for one week.

About iPayment

iPayment, Inc. is a leading provider of credit and debit card payment processing services to small merchants across the United States. iPayment’s payment processing services enable merchants to accept credit cards from VISA, MasterCard, American Express, Discover and Diners Club, as well other forms of electronic payments including debit cards, checks, gift cards and loyalty programs. iPayment provides services to approximately 133,000 small merchants throughout the country.

Contacts

iPayment, Inc.
Mark Monaco, Chief Financial Officer, 615-665-1858, Ext. 115

VITA Products Launches Innovative Contactless Payment Program

July 27, 2011 06:00 AM Eastern Daylight Time 

-- VITA Products, The Bancorp Bank and Visa Launch Contactless Payment Bracelet --

PHILADELPHIA--(BUSINESS WIRE)--VITA Products, Inc., a company offering a first-of-its-kind identification and contactless payment platform, announced the launch of its payments and identification program using Visa’s payWave-enabled contactless payment chip. The program showcases the VITAband, the first in VITA Products Inc.’s line of wearable accessories that store emergency contact and medical information, while offering contactless payment functionality.

“VITAband has broken new ground in the consumer electronic category by combining both access to digital health records as well as a payment capability in one, streamlined device”

The VITAband has an embedded micro-chip that can facilitate contactless transactions at thousands of retailers across the country with the simple wave of the wrist at point-of-sale terminals equipped with contactless functionality. VITAband users are issued a prepaid account that is enabled by Visa’s contactless payment technology, Visa payWave. Transactions are debited from the prepaid card account each time the VITAband is waved in front of a contactless payment terminal.

“We found contactless payments the ideal application for consumers on the go,” said David Waxman, CEO and Co-Founder of VITA Products, Inc. “This program is an indication of the growing potential and benefits of contactless payment. Just as ATM machines were first considered an anomaly, this looks to be the next breakthrough currency platform.”

The VITAband will initially be available for sale online through www.VITAband.net.

“VITAband has broken new ground in the consumer electronic category by combining both access to digital health records as well as a payment capability in one, streamlined device,” said Jason Brown, President and Co-Founder of VITA Products, Inc.

VITAband Visa Prepaid Chip is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. The Bancorp Bank; Member FDIC.

Obtaining Your Card: The USA PATRIOT Act is a federal law that requires all financial institutions to obtain, verify, and record information that identifies each person who opens a Card Account. What this means for you: When you open a Card Account, we will ask for your name, address, date of birth, and other information that will allow us to reasonably identify you. We may also ask to see your driver's license or other identifying documents at any time.

About VITA Products

Launched Spring 2011, VITA Products combines innovative contactless payment technology and the strength and safety of a personal health network into a convenient, wearable line of accessories known as VITAforms, which are customizable to individual style. VITA Products provide access to information in case of emergency through an emergency response profile and offers access to petty cash with a contactless payment system all in a sleek, comfortable accessory that’s perfect for anyone on the go. The company’s debut VITAform, the VITAband, is the first-of-its-kind bracelet for an active lifestyle. VITA Products are sold online at www.VITAband.net.

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., 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.

Contacts

Smack! Media
Shanna Burnette, 303-601-5177
shanna@smackmedia.com
or
Elisette Carlson, 858-735-2711
elisette@smackmedia.com

Visa to Become Exclusive Brand for Consolidated United Airlines and Continental Airlines U.S. Co-brand Card Portfolio

July 27, 2011 08:00 AM Eastern Daylight Time 

SAN FRANCISCO & CHICAGO--(BUSINESS WIRE)--Visa Inc. (NYSE: V), a global leader in payments, and United Continental Holdings, Inc. (NYSE: UAL) today announced a multi-year agreement extending Visa’s decades-long partnership with United as the airline transitions to a single loyalty program, MileagePlus. Through the agreement, Visa will become the exclusive payment network partner for newly issued cards of the consolidated United and Continental co-branded portfolio. The cards will be issued by Chase Card Services, a division of JPMorgan Chase & Co. (NYSE:JPM). United and Visa will also collaborate on broader initiatives including innovation and sponsorship opportunities.

“United and Visa share a commitment to leadership and innovation, and our partnership enables us to deliver industry-leading products, capabilities, experiences and rewards to our customers”

“United and Visa share a commitment to leadership and innovation, and our partnership enables us to deliver industry-leading products, capabilities, experiences and rewards to our customers,” said Tom O’Toole, United senior vice president and chief operating officer of Mileage Plus Holdings, LLC, a wholly owned subsidiary of United Continental Holdings, Inc.

United has offered a portfolio of Visa card products since 1987, presenting United customers opportunities to earn MileagePlus miles while enjoying the convenience, global acceptance and security of Visa. The agreement maintains Visa’s current exclusive United MileagePlus Visa relationship, and extends the Visa exclusivity to all new United MileagePlus co-branded cardholders beginning in January 2012.

“Visa and United share a long and successful history of working together to bring meaningful benefits to consumers,” said Joseph Saunders, Chairman and Chief Executive Officer of Visa Inc. “Together, Visa and United with Chase have created one of the most popular rewards products in the world and we are pleased to extend our partnership with United, creating more opportunities to innovate and bring Visa to world travelers.”

As part of the expanded agreement, Visa and United have agreed to jointly develop new benefits for MileagePlus Visa cardholders, such as enhanced access and services on mobile devices and to explore opportunities to maximize their shared support of global sponsorships.

About Visa

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 20,000 transaction messages 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, visit www.corporate.visa.com.

About United Continental Holdings, Inc.

United Continental Holdings, Inc. (NYSE: UAL) is the holding company for both United Airlines and Continental Airlines. Together with United Express, Continental Express and Continental Connection, these airlines operate an average of 5,765 flights a day to 377 airports on six continents from their hubs in Chicago, Cleveland, Denver, Guam, Houston, Los Angeles, New York/Newark Liberty, San Francisco, Tokyo and Washington, D.C. United and Continental are members of Star Alliance, which offers 21,000 daily flights to 1,160 airports in 181 countries. United and Continental’s more than 80,000 employees reside in every U.S. state and in many countries around the world. For more information about United Continental Holdings, Inc., go to UnitedContinentalHoldings.com. For more information about the airlines, see united.com and continental.com or follow on Twitter and Facebook

Pinnacle Federal Credit Union Partners with Elan Financial Services to Issue a VISA® Credit Card Program

July 27, 2011 10:00 AM Eastern Daylight Time 

MINNEAPOLIS & EDISON, N.J.--(BUSINESS WIRE)--Pinnacle Federal Credit Union (FCU) is partnering with Elan Financial Services to provide credit card products and services to its nearly 24,000 members. This includes the purchase of the existing portfolio of approximately $13 million in balances and more than 5,000 accounts. Elan will also offer new accounts to members that currently don’t carry the Pinnacle FCU VISA® credit card. Elan has more than 40 years of experience as an agent credit card issuer with more than 1,700 partners, 400 of which are credit unions.

“Credit card programs can be expensive and time consuming to manage. This new relationship allows Pinnacle to focus on its core competencies while positioning Elan to provide enhanced service and card product options to the membership: a relationship that will be beneficial to Pinnacle’s members for years to come.”

“Pinnacle is excited to partner with Elan to enable us to offer the members multiple credit card options and extraordinary service. Several providers were considered; however, Pinnacle felt Elan had the credit union experience, track record and attention to service that we needed,” said Harry R. Jacobson, CPA, president/chief executive officer of Pinnacle. “Credit card programs can be expensive and time consuming to manage. This new relationship allows Pinnacle to focus on its core competencies while positioning Elan to provide enhanced service and card product options to the membership: a relationship that will be beneficial to Pinnacle’s members for years to come.”

“We’re pleased that Pinnacle has chosen Elan to help manage its credit card program,” said Jeff Chernivec, senior vice president and market development director at Elan Financial Services. “With more than 40 years of experience partnering with credit unions, Elan has the experience to work with Pinnacle to provide its members a robust card program, best-in-class servicing and effective marketing programs to drive deeper member relationships.”

Pinnacle FCU engaged TRK Advisors as its advisor for the sale process. “I have seen few organizations develop and articulate its reasons for this decision as clearly and as carefully as Pinnacle,” said Tim Kolk, president of TRK Advisors.

The portfolio sale closed in June 2011 with a conversion to Elan’s processing systems anticipated within the next several months. The terms of this sale will not be disclosed.

About TRK Advisors

TRK Advisors offers a variety of credit card program management services, including portfolio sale and agent program development advisory service for more information 603-924-4438 or visit trkadvisors.com.

About Pinnacle Federal Credit Union

Pinnacle Federal Credit Union, founded in 1962, is a full service financial institution offering a wide array of loan and deposit products, and convenience services. With assets of $150 million, Pinnacle provides service to nearly 24,000 members from over 250 sponsor companies. Pinnacle strives to deliver financial products to its members at the lowest possible cost, and to educate members on how to best utilize those products and services. For more information call 800-742-5050, or visit www.pinnaclefcu.com

About Elan Financial Services

Elan Financial Services provides a complete range of processing and payments services, including credit card issuing, prepaid card solutions and ATM and debit card processing. Elan Financial Services is a leading credit card issuer for more than 2,000 clients in 50 states. It provides transaction processing, terminal driving and the necessary monitoring and support services for over 27,000 ATMs nationwide, and supports more than 20 million ATM and debit cards. Elan also operates the MoneyPass surcharge free ATM network. For more information call 800-343-7064, or visit www.cupartnerships.com.

Global Cash Access Sets Date for Second Quarter 2011 Earnings Conference Call

July 27, 2011 08:30 AM Eastern Daylight Time 

LAS VEGAS--(BUSINESS WIRE)--Global Cash Access Holdings, Inc. (NYSE:GCA), today announced that it will host a conference call and webcast on Tuesday, August 9, 2011 at 5:00 p.m. ET to review its second quarter 2011 financial results. A press release with second quarter 2011 financial results will be issued shortly after the market closes on August 9, 2011.

The conference call can be accessed live over the phone by dialing (877) 941-4774 or for international callers by dialing (480) 629-9760. A replay will be available at 8:00 p.m. ET and can be accessed by dialing (877) 870-5176 or (858) 384-5517 for international callers; the pin number is 4459255. The replay will be available August 16, 2011. The call will be webcast live from the Company’s website at www.gcainc.com under the Investor Relations section.

About Global Cash Access Holdings, Inc.

Las Vegas-based Global Cash Access, Inc. (“GCA”), a wholly owned subsidiary of the Company, is a leading provider of cash access products and related services to over 1,100 casinos and other gaming properties in the United States, Europe, Canada, the Caribbean, Central America and Asia. GCA's products and services provide gaming patrons access to cash through a variety of methods, including ATM cash withdrawals, point-of-sale debit card transactions, credit card cash advances, check verification and warranty services, and Western Union money transfers. GCA also provides products and services that improve credit decision-making, automate cashier operations and enhance patron marketing activities for gaming establishments. With its proprietary database of gaming patron credit history and transaction data on millions of gaming patrons worldwide, GCA is recognized for successfully developing and deploying technological innovations that increase client profitability, operational efficiency and customer loyalty. More information is available at GCA's Web site at www.gcainc.com.

Tray e-commerce Platform Acquires SuperPay, an Electronic Payments Company

Transaction is the first strategic move towards assembling a full e- commerce operation in Brazil

SAO PAULO, July 27, 2011 /PRNewswire/ -- Tray (www.tray.com.br), the largest  e-commerce platform in Brazil serving an average of more than 4,500 stores, announces the acquisition of "payment gateway" SuperPay (www.superpay.com.br). In addition to the transaction, Tray reports that US$ 2 million will be invested initially for the development of new tools, integration interfaces, security, connectivity and marketing.

Tray's CEO, Walter Leandro Marques, explained that Tray, through its parent company, InventPar, acquired 80% of ERnet, creator of the SuperPay "payment gateway." Besides maintaining and improving services to existing Super Pay customers, the strategy is to extend these excellent services to Tray's clients, expanding the array of e-commerce products on the portfolio and enhance the group's professional staff.

SuperPay's management will be independent. Its CEO, Regis Davis, an internationally renowned executive in the field of means of payments and electronic transactions, will lead the company's rapid expansion and growth. "We are in position to consolidate SuperPay as the best and most comprehensive Payment Gateway in Latin America over the next 12 months," said the executive.

The founders of SuperPay, Rogerio Gomes and Ewerton Santos, remain in the operation as Chief Technology Officer and Sales Director, respectively.

About Tray

Founded in 2003, it developed the first sales management tool for users of the Mercado Livre online auction site (NasdaqGS: MELI), created Pagamento Digital (www.pagamentodigital.com.br), the first Brazilian Payment Processing company, similar to PayPal (www.paypal.com); an EBAY (NasdaqGS: EBAY),subsidiary , subsequently sold to BuscaPe (www.buscape-inc.com).

With more than 4,500 online stores, it is the most widely used platform for companies from different segments in Brazil, covering the entire e-commerce chain: platform, marketplace, online advertising and means of payment.

More than 40,000 online businesses have already used Tray's services and more than 1.5 million people have made purchases through the its Shopping Tray http://shopping.tray.com.br/ marketplace, which receives over 70 million page views per month.

With offices in Sao Paulo, AlphaVille and Marilia, Tray has 120 professionals working in its Technology and Development, Marketing, Sales and Service, Human Resources and Administration Departments.

About SuperPay

www.superpay.com.br - A Payment Gateway that allows e-commerce sites to offer their users all existing forms of payments: credit card, bank payment slip, direct debit, recurring payments, etc. Its other distinguishing characteristics are: integration with all risk analysis solutions, exponentialization of transactional security; re-parameterization attempts, directly and/or with another acquirer; payments through different cards for a same order; one click: module that enables the use of financial data stored from previous purchases by the same user, eliminating the need for re-insertion; interaction with mobile devices, cell phones, tablets and Pin-Pad; administrative module with step-by-step information about transactions processed between the gateway and all entities involved. Furthermore, it operates globally to assist companies that wish to operate internationally.

SuperPay is located in the region of Sao Jose dos Campos, State of Sao Paulo, a leading center of technology development and excellence in Brazil. It has both a robust infra- structure and a qualified workforce to provide the best and most efficient solutions to the Electronic Means of Payment market.

Contact:
Arsenio Pagliarini, C.S.O. Tray Group
email: apagliarini@tray.com.br
tel: +551155857856

SOURCE Tray

Mobile Gaming Revenues Will Exceed $16 Billion in 2016, as In-App Payments Grow, Says ABI Research

July 27, 2011 10:58 AM Eastern Daylight Time 

LONDON--(BUSINESS WIRE)--Mobile gaming is establishing itself as a serious form of mass entertainment, appealing to a diverse group of consumers across the world. The growth in this market is driven on one hand by the emergence of modern touchscreen smartphones as a suitable gaming platform, and on the other hand by innovation in casual games that attract users from both genders and from all age groups.

This is also reflected in the industry’s revenue base, which will grow from less than $5 billion in 2011 to more than $16 billion in 2016.

Shift in revenue

ABI Research senior analyst Aapo Markkanen comments, “An ever-larger share of mobile gaming revenue is coming from virtual goods and other purchases that take place within the game. These in-app payments will account for about one-third of the 2011 revenue base, but by the end of 2016 their share will increase to almost half of the total. Also, the in-game advertising revenue will increase considerably, as more and more advertisers take advantage of mobile games’ mass-media potential.”

Thanks to digital distribution of the content, barriers to entering the mobile gaming sector are low.

Good content better than luck

However, Markkanen warns, “The dynamics of both casual gaming and the discovery of new content make it a risky hit-and-miss business, though good content is still definitely more important than luck. Rovio’s ‘Angry Birds’ is an early example of the sort of following that the most successful titles will be able to achieve, yet for one such hit there will be scores of failed attempts to catch consumers’ attention. This is likely to result in further consolidation among developers, as can be seen from recent acquisitions made by industry giants such as Electronic Arts and Zynga.”

ABI Research’s new “Mobile Gaming” study (http://www.abiresearch.com/research/1006314) describes available types of games and revenue models, provides analyses of market drivers and inhibitors, and offers an overview of the main technology issues. It includes forecasts for user bases and end-user revenues, broken down by revenue segment and geographic region, as well as data on relevant consumer trends gathered by ABI Research’s latest Bi-Annual Consumer Technology Barometer^TM.

It is part of the firm’s Mobile Services Research Service (http://www.abiresearch.com/products/service/The_Mobile_Consumer_Research_Service).

ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. From offices in North America, Europe and Asia, ABI Research’s worldwide team of experts advises thousands of decision makers through 40+ research and advisory services. Est. 1990. For more information visitwww.abiresearch.com, or call +1.516.624.2500.