Renasant Bank Joins the Secure Vault Payments Network

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August 03, 2011 08:04 AM Eastern Daylight Time 

Renasant Bank to Offer Secure Vault Payments to its customers in Alabama, Georgia, Tennessee and Mississippi

DENVER--(BUSINESS WIRE)--eWise, a payments and online financial management solutions provider, today announced the addition of Renasant Bank to its growing customer base in the U.S. market. This partnership will provide Renasant customers the opportunity to access Secure Vault Payments giving them access to newer, more secure alternative payments.

“We are delighted to announce Renasant Bank as a valuable addition to the SVP network”

Secure Vault Payments (SVP) is a safe, secure and private online payment network developed by NACHA — The Electronic Payments Association® and eWise, a provider of online payment and personal financial management solutions.

“We are excited to offer an alternative payment to our customers and to be part of the growing SVP network,” said Jim Gray, senior vice president and CIO, Renasant Bank. “Through this relationship we can now offer our customers a fast and easy way to make secure payments and manage their online transactions right from their bank account.”

SVP is the only online payment system designed specifically for the unique security and convenience requirements of online payments and ecommerce. SVP brings value to consumers, financial institutions and merchants and billers in a closed loop payment chain.

• For consumers, SVP is an easy, fast and secure way to make payments or shop online by leveraging their current online banking accounts to make immediate payments without enrolling, registering or sharing any account information.
• For merchants and billers, SVP provides real-time authorization with guaranteed payment of ACH transactions at costs typically more cost-effective than existing solutions while lowering risk.
• For financial institutions, SVP provides an added measure of consumer protection, encourages the use of online banking and adds a new revenue stream while leveraging the bank’s existing online banking infrastructure.

“We are delighted to announce Renasant Bank as a valuable addition to the SVP network,” said Alex Grinberg, CEO, eWise. “Secure Vault Payments allows Renasant Bank and their customers to participate in alternative payment types and gives them a competitive advantage in the marketplace, a new revenue source, and ensures greater customer loyalty.”

About Secure Vault Payments

Secure Vault Payments^® enables consumers to initiate private and secure payments for purchases and bill payments through their financial institutions’ online banking platforms, using the ACH Network and eWise’s Online Banking ePayments technology. Financial institutions authenticate consumers and provide businesses with real-time authorization and confirmation of payment (ACH credit). Secure Vault Payments™ is a trademarked offering of NACHA — The Electronic Payments Association. To learn more, visitwww.securevaultpayments.com.

About eWise

eWise is partnering with NACHA to provide the Secure Vault Payments network, utilizing its Online Banking ePayments (OBeP) technology and account management services. eWise is a payments and online financial management solutions provider with a reputation for providing innovative solutions that make transacting online easier and more secure. eWise offices in US, UK, China and Australia support some of the world’s top 50 financial institutions with solutions delivering outstanding, proven ROI for its customers and a better online experience for millions of end-users worldwide. For more information, visit www.ewise.com.

About Renasant Bank

Renasant Corporation, a 107-year-old financial services institution, is the parent of Renasant Bank and Renasant Insurance. Renasant has assets of approximately $4.3 billion and operates over 75 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama and Georgia.

Contacts

104 West for eWise
Johanna Erickson, 720-407-6077
Johanna . Erickson@104west.com

Cards and Payments Throughout Europe - Comprehensive Analysis of the Main Market Trends

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August 03, 2011 08:30 AM Eastern Daylight Time 

DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Cards and Payments throughout Europe" report to their offering.

Since the advent of the global economic downturn, European consumers have become more cautious. More people are using their debit cards to live within their means rather than borrowing to fund their lifestyles. The debit card is becoming the payment method of choice throughout Europe.

This report investigates cards and payments throughout key economies in Europe. It provides analysis of the main market trends in the UK, Germany, Spain, France, Italy, Ireland, Greece and Portugal, and examines the impact of Europe-wide initiatives that are impacting on the financial services sector.

In the wake of the global economic recession, the debit card has dominated the retail sector. Customer caution and tighter restrictions on lending have made it the payment option of choice for most consumers. In response, banks are introducing a series of cards and payments innovations in an attempt to coax back market share from low-yielding debit card transactions.

This report measures the progress of prepaid and contactless card innovations in key European markets, including Greece, Italy and Spain, and discusses the developments and probable outcomes of Europay, Mastercard and VISA (EMV) compliance and the Single Euro Payments Area (SEPA) initiative.

Read this report to:

• Increase the profitability of your cards and payments offering
• Adapt your approach to the payments sector to suit changing consumer trends
• Judge how the progress of EMV compliance will affect your business
• Prepare your business for the likely impact of the SEPA initiative in Europe

Key Topics Covered:

Chapter 1: Introduction to cards and payments in Europe

Chapter 2: Making inroads into cash reduction in the UK

Chapter 3: The war on cash in Italy

Chapter 4: cards and payments in France

Chapter 5: Spain

Chapter 6: Cash is still king in Germany

Chapter 7: The need for product innovation in smaller European countries

Chapter 8: Cards and payments in Europe - conclusions

For more information visit http://www.researchandmarkets.com/research/e77b8d/cards_and_payments.

MasterCard Reports Q2 2011 Net Income of $608 Million

August 03, 2011 08:02 AM Eastern Daylight Time 

MasterCard Incorporated Reports Second-Quarter 2011 Financial Results

• Second-quarter net income of $608 million, or $4.76 per diluted share
• Second-quarter net revenue increase of 22.1%, to $1.7 billion
• Second-quarter gross dollar volume up 16.4% and purchase volume up 16.3%
• Second-quarter operating income increase of 23.3%

PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Incorporated (NYSE: MA) today announced financial results for the second quarter of 2011. The company reported net income of $608 million, up 32.8%, and earnings per diluted share of $4.76, up 36.4%, in each case versus the year-ago period.

“Solid global performance, including strong increases in volume and processed transactions, fueled double-digit revenue growth this quarter”

Net revenue for the second quarter of 2011 was $1.7 billion, a 22.1% increase versus the same period in 2010. On a constant currency basis, net revenue increased 18.0%. Net revenue growth was primarily driven by the impact of the following:

• A 16.4% increase in gross dollar volume on a local currency basis, to $811 billion;
• An increase in cross-border volumes of 19.3%; and
• An increase in processed transactions of 17.4%.

These factors were partially offset by an increase in rebates and incentives primarily due to new and renewed customer agreements and increased volumes.

Worldwide purchase volume during the quarter was up 16.3% on a local currency basis versus the second quarter of 2010, to $608 billion. As of June 30, 2011, the company’s customers had issued 1.7 billion MasterCard and Maestro-branded cards.

“Solid global performance, including strong increases in volume and processed transactions, fueled double-digit revenue growth this quarter,” said Ajay Banga, MasterCard president and chief executive officer. “While payment volumes have risen across our base customers, we’re also seeing new business such as the portfolio conversions of SunTrust and Sovereign, as well as new processing relationships in the Netherlands and in Brazil, contribute to growth.”

Banga said, “During the quarter, work continued in the mobile commerce category highlighted by an agreement with Google and multiple partners to launch the Google Wallet, as well as our alliance with Isis, in the U.S. Additionally, the previously announced Orange and Barclaycard contactless mobile payment service became available to U.K. consumers in May. Other notable agreements we executed include a commercial alliance with China Union Pay to enable its cards for cross-border e-Commerce, and a new, multi-product agreement with Swedbank in the Nordics and Baltics region.”

Total operating expenses increased 20.8%, to $782 million, during the second quarter of 2011 compared to the same period in 2010. Excluding currency fluctuations, operating expenses were up 17.1%. The increase in total operating expenses was driven by:

• An increase in general and administrative expenses of 24.8%, or 21.3% on a constant currency basis, primarily due to higher personnel expenses and other expenses related to the inclusion of acquisitions and other strategic opportunities;
• An increase in advertising and marketing of 7.1%, or 2.4% on a constant currency basis, driven by sponsorships, as well as customer-specific and strategic initiatives; and
• An increase in depreciation and amortization of 43.2%, or 41.6% on a constant currency basis, primarily due to the amortization of intangible assets from our recent acquisitions and continued investments in technology.

In the second quarter of 2011, excluding acquisitions, net revenue grew approximately 19% and operating expenses grew approximately 14%.

Operating income increased 23.3%, or 18.9% on a constant currency basis, over the year-ago quarter. Operating margin was 53.1%, up from 52.6% in the second quarter of 2010.

MasterCard reported other income of $7 million in the second quarter of 2011 versus other expense of $4 million in the second quarter of 2010. This change was mainly driven by a decrease in interest expense due to lower interest accretion related to litigation settlements and lower interest on uncertain tax positions.

MasterCard's effective tax rate was 31.8% in the second quarter of 2011, versus a rate of 35.7% in the comparable period in 2010. This decrease was primarily driven by a more favorable geographic mix of earnings in 2011 and discrete adjustments in the second quarter of 2010.

In April 2011, MasterCard’s board of directors amended its share repurchase program authorizing the company to repurchase an incremental $1 billion of class A common stock, bringing the authorization to an aggregate of $2 billion. During the second quarter, MasterCard repurchased approximately 1.5 million shares at a cost of approximately $387 million. Quarter-to-date through July 28, the company repurchased an additional 77,700 shares of class A common stock at a cost of approximately $24 million, with $935 million remaining under the current repurchase program authorization.

Year-to-Date 2011 Results

For the six months ended June 30, 2011, MasterCard reported net income of $1.2 billion, up 28.2%, and earnings per diluted share of $9.05, up 30.2%, in each case versus the year-ago period.

Net revenue for the six months ended June 30, 2011 was $3.2 billion, an increase of 18.5% versus the same period in 2010, or 16.4% on a constant currency basis. Cross-border volume growth of 18.9%, gross dollar volume growth of 14.7%, transaction processing growth of 14.3% and the net impact of pricing changes of approximately 3 percentage points contributed to the net revenue growth in the year-to-date period. These factors were partially offset by an increase in rebates and incentives primarily due to new and renewed customer agreements and increased volumes.

Total operating expenses increased 15.3%, to $1.4 billion, for the six-month period compared to the same period in 2010. Excluding currency fluctuations, total operating expenses increased 13.5%.

Operating margin was 54.3% for the six months ending June 30, 2011, up from 53.0% in the first half of 2010.

Total other income was $7 million for the six-month period versus other expense of $9 million for the same period in 2010. This change was primarily driven by a decrease in interest expense due to lower interest accretion related to litigation settlements and lower interest on uncertain tax positions.

MasterCard’s effective tax rate was 32.3% in the six months ended June 30, 2011, versus a rate of 35.1% in the comparable period in 2010. This decrease was primarily due to a more favorable geographic mix of earnings in 2011.

Second-Quarter Financial Results Conference Call Details

At 9:00 a.m. ET today, the company will host a conference call to discuss its second-quarter financial results.

The dial-in information for this call is 800-299-9630 (within the U.S.) and 617-786-2904 (outside the U.S.) and the passcode is 14526215. A replay of the call will be available for one week following the meeting. The replay can be accessed by dialing 888-286-8010 (within the U.S.) and 617-801-6888 (outside the U.S.) and using passcode 71099631.

The live call and the replay, along with supporting materials, can also be accessed through the Investor Relations section of the company’s website at www.mastercard.com.

About MasterCard Incorporated

MasterCard (NYSE: MA) is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Learn more at mastercard.com.

Discover U.S. Spending MonitorSM Consumer Confidence Falls for Second Straight Month in July

August 03, 2011 07:00 AM Eastern Daylight Time 

A Record 45% Planning to Save and Invest Less in the Month Ahead

RIVERWOODS, Ill.--(BUSINESS WIRE)--Consumer confidence fell for the second straight month in July, as the Discover^® U.S. Spending Monitor^SM dropped to its lowest level in more than two years and has dropped 11 points since January. The Monitor, a daily poll of 8,200 consumers tracking economic confidence and spending intentions throughout the month, now stands at 82.7, 2.4 points lower than June and the lowest level reported since March 2009, when it stood at 79.5.

“Continued high gas prices, poor economic numbers and uncertainty over the debt crisis certainly didn’t help their confidence.”

The monitor reflects increased concerns from Americans about the broader economy. This month, 62 percent of Americans rated the economy as poor, up from 60 percent in June; 59 percent of consumers say economic conditions are worsening, which is a 3-point jump from the month prior.

Furthermore, more Americans are reporting difficulties with their personal finances. Fifty-four percent of consumers say their personal finances are getting worse, up from 51 percent who reported the same last month. In comparison, at the start of this year, only 44 percent felt their personal finances were worsening.

In addition, a declining number of Americans expect to have money left over after paying their bills, as only 45 percent of consumers say they will have money left over, down 2 points from last month.

“Most consumers don’t appear to be having a carefree summer, considering the drops in confidence the Monitor has reported over the last two months,” said Julie Loeger, senior vice president of brand and product management for Discover. “Continued high gas prices, poor economic numbers and uncertainty over the debt crisis certainly didn’t help their confidence.”

Discretionary Spending Intentions Decline, Record 45% Plan to Save and Invest Less in the Month Ahead

Economic uncertainty has Americans pulling back their discretionary spending intentions. More than half of consumers, 53 percent, say they are reining in spending, a 4-point jump from last month. Those who say they will spend more on discretionary items or events like going out to dinner and the movies in the coming month slid to 8 percent, down from 11 percent in June.

At the same time, a Monitor-record 45 percent of consumers plan to save and invest less in the month ahead, up from 41 percent from last month.

Lower Spending on Household Improvements and Major Personal Purchases

From February to June, consumers steadily increased their spending on home improvement purchases. July’s numbers broke that trend. Fifty-four percent of consumers plan to spend less on home improvement purchases, up from 47 percent in June. Only 13 percent plan to spend more, dropping 5 points from June.

The number of Americans who plan to reduce their spending on major personal purchases, such as vacations or gym memberships, is also increasing. In July, 51 percent of consumers said they planned to spend less on these types of purchases, up from 48 percent who said the same last month.

For more Discover U.S. Spending Monitor survey data, charts and information, please visit http://www.discoverfinancial.com/surveys/spending.shtml.

About Discover U.S. Spending Monitor

The Discover U.S. Spending Monitor^SM 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 (http://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 http://www.discoverfinancial.com.

Contacts

Discover
Matthew Towson
224-405-5649
matthewtowson@discover.com

First Data Reports Second Quarter 2011 Financial Results

August 03, 2011 07:00 AM Eastern Daylight Time 

• Second Quarter 2011 Consolidated Revenue of $2.7 Billion, up 5%; Second Quarter 2011 Adjusted Revenue of $1.7 Billion, up 2%
• Earnings Growth in All Three Business Segments
• Teamed-up to Launch the Google Wallet App
• Generated $526 Million in Operating Cash Flow and Ended the Quarter with $1.8 Billion in Unrestricted Liquidity

ATLANTA--(BUSINESS WIRE)--First Data Corporation today reported its financial results for the second quarter ended June 30, 2011. Consolidated revenue for the second quarter increased $135 million to $2.7 billion, up 5% compared to $2.6 billion a year ago. Revenue growth was primarily attributable to increases in debit network fees and favorable impacts of changes in foreign currency. Adjusted revenue, which excludes certain items including reimbursables, increased $35 million, or 2%, year-over-year to $1.7 billion.

“Despite the slow U.S. economic recovery, we delivered earnings growth in all three segments of the business. I’m pleased with the continued improvement in the profitability of our international regions and the positive momentum in our North American business”

For the second quarter, the net loss attributable to First Data was $176 million, compared to $171 million a year ago. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $561 million was up 9% compared to $513 million in the second quarter of 2010, driven by growth in EBITDA across all three business segments.

First Data generated $526 million in operating cash flow, after interest payments of $161 million, for the quarter and finished the quarter with $1.8 billion in unrestricted liquidity—$287 million in cash available for corporate use plus $1.5 billion under the revolving credit facility.

“Despite the slow U.S. economic recovery, we delivered earnings growth in all three segments of the business. I’m pleased with the continued improvement in the profitability of our international regions and the positive momentum in our North American business,” said Jonathan J. Judge, chief executive officer. “Further, our focus on global product management and innovation is leading to exciting new revenue opportunities, such as the Google Wallet partnership, our mobile commerce and fraud protection offerings, and new products to help our customers navigate the U.S. debit regulatory rules announced in June.”

Segment Results

Retail and Alliance Services segment revenue for the second quarter was $844 million, down $10 million, or 1%, compared to $854 million in 2010. Transaction growth slowed sequentially from 9% to 7% driven by economic softness. Core merchant revenue growth was also impacted by transaction and volume mix. Credit mix was stable at 72% and regional average ticket was $69, flat compared to a year ago. Product revenue growth was negatively impacted by a prior year large shipment of promotional gift cards and increased demand for terminals due to 2010 PCI compliance deadlines. Check-processing continued to be impacted by fewer checks being written as consumers migrate to electronic payments. Segment EBITDA was $352 million, up $7 million, or 2%, compared to 2010 as a result of reduced cost of goods sold and lower technology and operations expenses. Margin for the second quarter was 42%, up approximately 200 basis points compared to the same quarter a year ago. During the quarter, Retail and Alliance Services added 12 bank referral agreements and 6 new independent sales organizations.

Financial Services segment revenue for the second quarter was $345 million, down $7 million, or 2%, compared to $351 million in the same quarter of 2010 as new business and growth in debit transaction volumes were offset by customer losses and pricing pressure. Active card accounts on file were flat compared to the prior year. Debit issuer transactions were up 12% excluding the impact of the loss of Washington Mutual. Segment EBITDA was $142 million, up $8 million, or 6%, compared to $135 million in 2010. Lower technology and operations costs more than offset the impact of lower revenue. In addition, prior year results include the adverse impact of a $6 million billing adjustment. Margin for the second quarter was 41%, up approximately 300 basis points compared to the same quarter a year ago. During the quarter, Financial Services renewed more than 300 contracts with financial institutions.

International segment revenue for the second quarter was $451 million, up $64 million, or 17%, compared to $387 million in the prior year. On a constant currency basis, segment revenue was up 7%. Revenue increases were driven by growth in the merchant acquiring business, primarily due to growth in bank alliances in Europe. The card issuing business was stable, on a constant currency basis, as higher volumes and new business mitigated economic pressures in Greece. Segment EBITDA was $119 million, up $46 million compared to $73 million in 2010 on higher revenue, cost reductions, and favorable impacts of changes in foreign currency. In addition, prior year results included an $11 million receivable write-off. Margin was 26%, up approximately 750 basis points compared to the same quarter of the previous year.

Recent Events

Mark Herrington Joins First Data Executive Committee

On May 9, 2011, First Data announced that Mark Herrington was appointed executive vice president, Global Product Management and Innovation, responsible for helping to establish a suite of world-class products and solutions that First Data can distribute globally. Herrington has served in numerous leadership roles at First Data, including general manager of the company’s former Retail Solutions division, which included prepaid, TeleCheck, eCommerce and merchant loyalty. He came to First Data from Money Network, now a First Data company, which he co-founded in 2001.

Google, Citi, MasterCard, First Data and Sprint Team up to Make Your Phone Your Wallet

On May 26, 2011, First Data, Google, Citi, MasterCard and Sprint announced and demonstrated Google Wallet, an app that enables consumers to transform their phone into a virtual wallet, enabling them to tap, pay and save money and time while shopping. Google Wallet also enables businesses to strengthen customer relationships by offering a faster, easier shopping experience with relevant deals, promotions and loyalty rewards. The First Data Trusted Services Manager (TSM) solution—developed in partnership with SK C&C—enables over-the-air provisioning of payment card credentials to Google Wallet.

First Data Rebrands U.K. Acquiring Business

On June 13, 2011, First Data launched a new brand name for one of its key payment acquiring services in the U.K. Bank of Scotland Merchant Services, a service provided by First Data to Bank of Scotland merchant customers, now operates under the new name of First Data Merchant Solutions. The launch of the First Data Merchant Solutions brand also marks the company's first acquiring venture in the U.K. to operate under First Data’s own name without attaching a bank partner name, building the brand’s stand-alone strength in the U.K. payments space.

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 at investor.firstdata.com.

Investor Conference Call

The company will host an investor conference call and webcast on Wednesday, Aug. 3, 2011 at 10 a.m. EDT to review second quarter 2011 financial results. First Data Chief Financial Officer Ray Winborne, will lead the call and will be joined by CEO Jon Judge.

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 800-798-2884 (U.S.) or 617-614-6207 (outside the U.S.), pass code 60834668.

A replay of the call will be available through Aug. 17, 2011, at 888-286-8010 (U.S.) or 617-801-6888 (outside the U.S.), pass code 30436950, 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.

U.S. Bank and SkoreIt! Introduce a New, Co-Branded Prepaid Visa® Gift Card to Penny Auction Bidders

August 03, 2011 09:00 AM Eastern Daylight Time 

MINNEAPOLIS & MILWAUKEE--(BUSINESS WIRE)--U.S. Bank, lead bank of U.S. Bancorp (NYSE: USB), and SkoreIt!, a leader in the Internet penny auction industry, have launched the new, co-branded SkoreIt! U.S. Bank Visa® Gift Card for SkoreIt website members. This represents the first partnership between a major national bank and a leader in the penny auction sector. The U.S. Bank SkoreIt! Visa Gift Card will be serviced and fulfilled by U.S. Bank, ensuring the highest level of security and integrity.

“Because of the fun, reliable and user-friendly auction experience it provides, U.S. Bank has awarded exclusivity to SkoreIt! for penny auctioning of U.S. Bank Visa Gift Cards.”

A penny auction is a type of auction in which participants must pay a non-refundable fee to place a small incremental bid. When the time expires, the last participant to have placed a bid wins the item and also pays the final auction price, which is generally 80 to 99 percent lower than the retail price of the item.

“Our partnership with SkoreIt! is an opportunity for U.S. Bank to partner with a new and innovative vehicle that is accessed by tens of thousands of visitors a day,” said Kevin Morrison, senior vice president and head of the prepaid division at U.S. Bank Retail Payment Solution. “Because of the fun, reliable and user-friendly auction experience it provides, U.S. Bank has awarded exclusivity to SkoreIt! for penny auctioning of U.S. Bank Visa Gift Cards.”

The SkoreIt! U.S. Bank Visa Gift Card is welcomed everywhere Visa debit cards are accepted in the United States, including online and mail order purchases. Gift cards in denominations ranging from $25 to $500 are available for bidding and are personalized with either the bidder’s name or "A Gift for You" if the card is intended to be a gift. The dollar amount can also be embossed on the card. Lost or stolen Visa Gift Cards can be replaced if the account number is provided upon immediate contact with U.S. Bank.

“Our robust national marketing efforts since the inception of SkoreIt have contributed to consumer education and awareness of the penny auction industry,” said Joseph Crivello, chief operating officer at SkoreIt!. “We are delighted to work with a financial partner of U.S. Bank’s stature. The partnership with U.S. Bank will allow us to continue to deliver value and high quality service to our rapidly growing community of bidders.”

Being a bidder on SkoreIt! is easy. Interested participants can purchase a bidpack at www.skoreit.com, place their bids and compete to be the highest bidder to “skore” the item.

About SkoreIt!

SkoreIt! is a leader in the Internet penny auction industry and is a division of Vesuvius Technologies, LLC, a privately held limited liability company. SkoreIt! is an industry leader in a rapidly emerging sector offering auctions combining entertainment, shopping and competition in a configuration commonly referred to as a “penny auction.” SkoreIt! conducts business with a variety of major national brands. Please visit www.skoreit.com for additional information.

About U.S. Bank

U.S. Bancorp (NYSE: USB), with $321 billion in assets as of June 30, 2011, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,086 banking offices in 25 states and 5,086 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.

Heartland Payment Systems Declares .04 Quarterly Dividend

August 03, 2011 09:00 AM Eastern Daylight Time 

PRINCETON, N.J.--(BUSINESS WIRE)--Heartland Payment Systems, Inc. (NYSE: HPY), one of the nation’s largest payments processors, today announced that the Company’s Board of Directors declared a quarterly dividend of $0.04 per common share payable on September 15, 2011 to shareholders of record at the close of business on August 24, 2011.

About Heartland Payment Systems

Heartland Payment Systems, Inc. (NYSE: HPY), the 5th largest payments processor in the United States, delivers credit/debit/prepaid card processing, payroll, check management and payments solutions to more than 250,000 business locations nationwide. Heartland is the founding supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. For more information, please visit HeartlandPaymentSystems.com, MerchantBillOfRights.com, CostOfABurger.com and E3secure.com.

BBVA Compass Launches Its First Reloadable Prepaid Debit Card

BBVA Compass SafeSpend Card(SM) is now available online

BIRMINGHAM, Ala., Aug. 3, 2011 /PRNewswire/ -- BBVA Compass today announced the launch of the BBVA Compass SafeSpend Card(SM), an open loop, reloadable, prepaid VISA® debit card. The BBVA Compass SafeSpend Card offers customers a low cost, full service alternative to checking accounts.

Consumers unable to obtain a checking account, parents of a young adult and routine check cashers are just a few of the individuals who will benefit from a prepaid debit card such as the BBVA Compass SafeSpend Card. There is no credit approval required to apply for the SafeSpend Card and funds can be direct deposited onto the card, transferred from an existing BBVA Compass checking account or reloaded at any VISA ReadyLink location.

"The SafeSpend Card is a great money management tool for parents who aren't ready to give their kids credit or debit cards," Director of Consumer Segment Group Jon Mulkin said. "We also expect the card to be popular among people who want to designate their spending money for special purchases like vacations."

The SafeSpend Card provides customers with multiple free features that are very useful in money management such as:

• Direct deposit
• Bill Payment Service
• Domestic ATM Balance Inquiry
• Online Banking
• Email and text message alerts*
• Electronic Statements and
• Unlimited PIN and signature transaction access.

The SafeSpend Card makes it possible for BBVA Compass to meet the financial needs of all consumers that want a banking relationship, but may not have a need for in-branch support or writing checks.  And because Direct Deposit and Online Banking are free features, customers will not need an existing checking account to make deposits and access their money.

"We are very aware of the role this product plays in the current financial landscape," said Mulkin.  "And as the public becomes more familiar with reloadable debit cards and its built-in benefits such as no overdraft fees, convenience, and immediate access to funds; we feel we are well positioned with a product that clearly responds to a specific and growing customer segment."

The SafeSpend Card is available for a flat $4 monthly service charge. More information about the application process can be found at bbvacompass.com/safespend.

ABOUT BBVA COMPASS

BBVA Compass is a Sunbelt-based financial institution that operates more than 717 branches including 379 in Texas, 93 inAlabama, 65 in California, 78 in Arizona, 45 in Florida, 36 in Colorado and 21 in New Mexico. BBVA Compass ranks among the top 20 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (3rd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the nation's leading Small Business Administration (SBA) lenders, earning 'Lender of the Year' honors in 2009 and 2010. Additional information concerning BBVA Compass can be found on our website www.bbvacompass.com.

Global Payments Announces Q4 Dividend of .02

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ATLANTA, Aug. 3, 2011 /PRNewswire/ -- Global Payments Inc. (NYSE: GPN), a leader in electronic transaction payment processing, announced today that its board of directors approved fiscal 2011 fourth quarter dividend of $0.02 per common share payable August 31, 2011 to shareholders of record as of August 17, 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
investor.relations@globalpay.com

SOURCE Global Payments Inc

Prepaid Cards Utilizing POSA Technology Launched at Toys"R"Us Japan

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ATLANTA, Aug. 2, 2011 /PRNewswire/ -- InComm, the industry leading marketer, distributor and technology innovator of stored value gift and prepaid solutions, via InComm Japan KK (headquartered in Shinagawa-ku, Tokyo) announced today that the introduction of point-of-sale activation (POSA) technology has been completed at Toys"R"Us®-Japan, Ltd. ("Toys"R"Us"), the leading resource for kids, families and fun throughout Japan (headquartered in Kawasaki-shi, Kanagawa).  Nintendo and iTunes prepaid cards utilizing the POSA technology are now on display and available for sale at all Toys"R"Us stores across Japan.  

Nintendo prepaid game cards can be used to purchase game software for the Wii, Nintendo DSi or Nintendo 3DS™. The iTunes cards are predominantly used for the purchase of music, movies, games, and applications through the iTunes store.  The POSA technology allows Toys"R"Us Japan to carry inventory and display cards without the risk of theft since the inventory is not active until after the purchase is completed.

"We believe this successful launch is going to deliver an efficient mechanism for Toys"R"Us to sell a variety of prepaid products," said Frank Monaco, Vice President of International. "Based on this installation, we are working together closely to bring additional products to the market. The trend is such that consumers are downloading digital content, and with the new POSA technology, Toys"R"Us Japan can now make it easier for customers to purchase prepaid cards. Available at the display in all Toys"R"Us stores and in the most popular denominations, the shopping experience is both convenient and enjoyable."

"This successful launch with Toys"R"Us Japan also benefits our product partners in the US and across the globe," said Takumaro Arai, Country Manager of InComm Japan. "We are very excited to bring together both retailer and product partners offering the opportunity of international expansion."

Toys"R"Us plans to gradually expand the selection of prepaid cards that utilize POSA technology.

About InComm

InComm is the industry leading marketer, distributor and technology innovator of stored-value gift and prepaid products using its state-of-the-art point-of-sale transaction technology and payment solutions to revolutionize retail product sales and customer experiences. With nearly $13 billion in retail sales transactions processed in 2010, InComm is the nation's largest provider of gift cards, prepaid wireless products, reloadable debit cards, digital music downloads, content, games, software and bill payment solutions. InComm partners with consumer brand leaders around the world to provide more than 225,000 retail locations the products and services their customers demand. Since 1992, InComm's patented technologies have made the buying process easier for consumers, while streamlining the selling process for product and retail partners. InComm is headquartered in Atlanta with offices in Australia/New Zealand, Brazil, Canada, Japan, Mexico, Puerto Rico, the United Kingdom, Arkansas, California, Colorado,Florida, Minnesota, Oregon, and Texas. To learn more about InComm, visit www.incomm.com or call (800) 352-3084.  Visit InComm Japan at  www.incomm.co.jp.

SOURCE InComm