Monday, October 31, 2011

austriamicrosystems Announces the Highest Performance NFC Reader IC for Payment and Automotive Applications

October 31, 2011 03:00 AM Eastern Daylight Time

The AS3911 features industry’s lowest power, antenna auto tuning, and 1 W of output power

UNTERPREMSTAETTEN, Austria--(BUSINESS WIRE)--austriamicrosystems (SIX:AMS), a leading global designer and manufacturer of high-performance analog ICs, has announced the AS3911 NFC (near field communications) and HF (high frequency) reader IC. The AS3911 has unique capabilities not available in the market and enables a number of applications, including EMV (Europay MasterCard Visa) payment, access control, automotive, NFC Infrastructure, and ticketing.

With an on-chip capacitive sensor, the AS3911 reader IC requires only 5 μA of current and can wake in the presence of a tag. This unique feature allows for the lowest current consumption in the industry. The IC also provides automatic antenna tuning to eliminate manual tuning while providing 1 W of output power, eliminating the need for an external booster circuit. This is an important feature for the 650 mW of power needed to read credit/debit cards. Competing solutions require a complex external booster circuit. The AS3911’s high level of integration and exclusive antenna management means halving typical system cost.

austriamicrosystems’ AS3911 is the only chip on the market with on-chip error handling for EMV applications. Alternative reader ICs do error correction on the host microcontroller. In addition, the AS3911 includes the analog front end (AFE) and a highly integrated data framing system for handling ISO 18092 (NFCIP-1) initiator, ISO 18092 (NFCIP-1) active target, ISO 14443 A and B reader (including high bit rates) and FeliCa™ (Felicity Card) reader. Other standards and custom protocols can also be accommodated by adjusting the AFE and implementing framing in an external microcontroller. Additionally, the AS3911 is the first reader IC on the market that supports the Very High Bit Rate (VHBR) draft amendment to the 14443 standard, allowing for data rates up to 6.8 Mbit/sec.

Bruce Ulrich, Wireless Product Line Director at austriamicrosystems, commented, “Customers repeatedly requested a reader chip designed for NFC applications. The AS3911 provides the features and performance to optimize the infrastructure readers for NFC. Customers need flexibility, RF performance, and speed to enable them to overcome the weaker performance of the NFC enabled phones. This is where users need peak RF performance and flexibility combined with low power. The AS3911 reader IC gives designers a system solution to speed their time to market.”

The AS3911 includes features that make it very well suited for low power designs. In addition to the capacitive sensor detecting the presence of a card without switching on the reader field, a card can also be detected by performing a measurement of amplitude or phase of the signal on the antenna. The AS3911 also contains a low power RC oscillator and wake-up timer to wake the system after a defined time period and check for a tag. Additionally, this IC is qualified for use in automotive applications so it can be used for car access, ignition and diagnostic functions.

The AS3911 operates over a wide power supply range -- from 2.4 V to 5.5 V -- and over a wide temperature range of -40 to 85ºC and is housed in a 32-pin QFN (5x5 mm) package. For more information visit www.austriamicrosystems.com/RFID/AS3911

Price & availability

The AS3911 is available immediately in sample quantities only. Contact austriamicrosystems for pricing.

Payment Alliance International Recognized as a Fast 50 Company (in Louisville)

October 31, 2011 10:11 AM Eastern Daylight Time

Honored by Business First for Third Consecutive Year

LOUISVILLE, Ky.--(BUSINESS WIRE)--Payment Alliance International (PAI), a leader in electronic payment processing solutions and the Electronic Transactions Association’s (ETA) 2011 “ISO of the Year,” has been named a Fast 50 Company by Business First of Louisville for the third consecutive year. Fast 50 award recipients represent companies from the fastest-growing businesses in the 13-county greater Louisville area. Businesses must be independent, for profit, privately held, and have realized at least $1 million in annual revenue for each of the last three years. PAI has been recognized on the Fast 50 list in each of its three years of eligibility and was ranked 20^th on this year’s esteemed list.

“Independent Sales Organization (ISO) of the Year”

John J. Leehy, III, president and chief executive officer of Payment Alliance International, attributes the company’s success to the dedication and energy of the company’s employees and the loyalty of its many customers. “This past year serves as irrefutable proof that excellence can thrive in even the toughest of economic climates. If your team is truly committed, willing to work harder than they believed they could, and never lose track of what helps customers most, success will follow! We are excited to once again be recognized as a Fast 50 Company and proud to be part of such a terrific group of high performance companies in our region.”

This is the 12^th annual Fast 50 awards program held by Business First of Louisville where each company is recognized and listed in order of their growth rate. An awards luncheon was held Oct. 27 at the Kentucky International Convention Center and this year’s event drew a record crowd of over 600 attendees. David Kozal, chief financial officer, and Leehy accepted this year’s award on behalf of PAI.

About Payment Alliance International (PAI)

Payment Alliance International is a leading provider of payment processing solutions for businesses nationwide and has been recognized as the 2011 “Independent Sales Organization (ISO) of the Year” by the Electronic Transactions Association (ETA). We are the nation’s largest deployer of ATMs, and provide ATM processing and maintenance services, ATM equipment sales and support, and ATM branding programs. We also provide comprehensive payment and small business solutions including credit, debit and prepaid card acceptance services, remote deposit capture and check processing, ecommerce solutions, ATM/email/mobile marketing, and loyalty programs…all designed to maximize customer success and make business easy. Payment Alliance International is based in Louisville, Ky., with offices in West Palm Beach, Fl., Jackson, Miss. and Billings, Mont. For more information, please visit www.GoPAI.com or follow us on Facebook and Twitter.

First Data Selects VeriFone for Caribbean POS Product Offering

October 31, 2011 08:00 AM Eastern Daylight Time

VeriFone V^x Solutions Selected as Exclusive Class A POS Systems provider by First Data

SAN JOSE, Calif.--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY), today announced it has been selected by First Data Corporation as the exclusive provider of Class A Point-of-Sale (POS) payment acceptance systems in the Caribbean region.

“VeriFone supports the advancement of newer payment acceptance capabilities and we’re eager to bring our cutting edge solutions to the region.”

First Data is partnering with VeriFone to develop applications for VeriFone’s V^x Solutions and VX Evolution countertop, wireless and PIN entry systems. First Data intends to expand its product offering to include the most advanced payment system hardware and software technology throughout the region with a strong focus on security and authentication for Caribbean businesses.

“We selected VeriFone as our exclusive POS product offering in this region as their devices go beyond traditional magnetic stripe transactions by providing advanced EMV card processing, which increases a merchant’s security and authentication measures to help reduce fraud,” said Phil Steurer, SVP, Central America and Caribbean, First Data. “With V^x Solutions and VX Evolution, VeriFone is providing market-ready and fully compliant payment processing solutions that will provide our Caribbean customers with the most advanced technology available to the marketplace.”

“This is an exciting opportunity for VeriFone to work with First Data in expanding its offering with payment systems that meet and exceed the latest data security requirements,” said Fernando Lopez, VeriFone executive vice president, Latin America and The Caribbean. “VeriFone supports the advancement of newer payment acceptance capabilities and we’re eager to bring our cutting edge solutions to the region.”

VeriFone has deployed payment systems worldwide for many years and has worked with banks and merchants worldwide to implement the necessary systems. The systems will support EMV credit and debit cards which utilize a smart card chip that has its own data storage, processing power and application software to provide much higher levels of security than magnetic stripe cards.

Chase, Wells Fargo, BofA, SunTrust Dropping Debit Card Fee Plans

All Y! Services
2 days ago – NEW YORK (AP) -- Chase and Wells Fargo are joining the list of banks that won t be charging customers to use their debit cards,

Bank of America Reportedly Considering Ways to Scale Back Debit Card Fee Plan

Consumers Union: Bank of America Should Drop Debit Card Fee for All Customers

SAN FRANCISCO, Oct. 28, 2011 /PRNewswire-USNewswire/ -- Bank of America is reportedly considering ways to scale back its plan to charge most of its customers a monthly $5 debit card fee according to Reuters. The bank has indicated that it is exploring ways to allow more customers to avoid the fee, including maintaining a certain minimum balance, using direct deposit for paychecks or having a Bank of America credit card. No specific details have been officially announced by the bank.

"It's clear that Bank of America is feeling the heat and is looking for ways to respond to the overwhelming public opposition to its unfair debit card fee," said Norma Garcia, manager of Consumers Union's financial services program. "It's hard to know how many of its customers will be in a position to avoid the fee based on what we know so far. If Bank of America wants to show that it is listening to its customers, it should drop the debit card fee altogether. Consumers shouldn't have to pay a fee just to have access to their own money."

Garcia added, "Ultimately, consumers will have to judge for themselves whether Bank of America is offering a fair deal. There are plenty of credit unions and other banks who are offering checking accounts without debit card fees."

Consumers Union has published a set of tips for consumers who want to switch banks.

SOURCE Consumers Union

Friday, October 28, 2011

First NFC Enabled "Smart Book" Published by Atria

SOURCE: Atria Books

October 28, 2011 07:04 ET

Atria Publishes First-Ever Nearfield Communications Enabled "smart book"

NEW YORK, NY--(Marketwire - Oct 28, 2011) - Atria Books releases the first-ever smart book. 1,000 copies of the book will be stickered with a RFID chip allowing for any Near Field Communication (NFC) enabled phone to simply tap and engage with the book's content.

The smart book tag can be read by the consumer's phone by tapping the sticker. Any NFC-enabled phone will automatically perform the command embedded in the tag. In this case, the phone will open the phone's mobile web browser on specific book-related content. The smart book tag can be embedded into a book cover or paper bookmark. (Link to see image of NFC phone activating the smart book tag: http://impactmobile.com/static/smartbooklarge.jpg.)

"The smart book allows the physical book to become interactive for both the book buyer and the book browser," says Judith Curr, Executive Vice President and Publisher of Atria Books. "The reader can tap to rich interactive content on their phone. The goal is to engage the consumer and start a permission-based two-way relationship that may lead to the sale of this book or further sales in this category of interest."

The first NFC-enabled smart book will be THE IMPULSE ECONOMY: Understanding Mobile Shoppers and What Makes Them Buy (Atria Books; November 1, 2011; ISBN: 9781451671865; $24.00), a groundbreaking book that shows how mobile technology is changing shopping habits, anticipates the near future of m-commerce, and helps retailers understand what they can do to leverage this technology to grow their customer base.

"Proximity marketing solutions like NFC will allow for seamless and frictionless interactive experience whether this is for interactive content on your phone or mobile wallet commerce opportunities," says Gary Schwartz, the author of THE IMPULSE ECONOMY. "This new breed of consumer is using the mobile phone in the physical store to select products, research purchases, and act on content."

Atria Books is an imprint of Simon & Schuster, a part of CBS Corporation. Simon & Schuster is a global leader in the field of general interest publishing, dedicated to providing the best in fiction and nonfiction for consumers of all ages, across all printed, electronic, and audio formats. Its divisions include Simon & Schuster Adult Publishing, Simon & Schuster Children's Publishing, Simon & Schuster Audio, Simon & Schuster Online, and international companies in Australia, Canada, India, and the United Kingdom. For more information about Atria, visit our website athttp://imprints.simonandschuster.biz/atria.

Gary Schwartz is the founder of Impact Mobile, where he is currently Chief Executive Officer. Gary has played a leadership role in the mobile industry and is also a pioneer in mobile marketing and managed the first cross-carrier short code mobile campaign in North America. In 2006, Gary founded the mobile committee for the Interactive Advertising Bureau (IAB). In 2010, the Mobile Entertainment Forum re-elected Gary as Chairman of the Board in North America, charging him with the task of developing a mobile commerce practice to service brands, retailers, and content owners. In 2011, in partnership with MEF and a number of industry groups including the X9 security standards body, Gary began working to develop m-commerce security and privacy guidelines.www.theimpulseeconomy.com twitter @impulseeconomy

Pyramid says Google Wallet has all the elements of the value chain

CAMBRIDGE, Mass., Oct. 27, 2011 /PRNewswire/ -- Mobile payments are developing at a rapid pace as members of the value chain make a push to bring their proposals to the table. Google Wallet, however, aims to bundle it all in one place, according to a new research note from Jose Magana, Pyramid's Practice Leader on Mobile Payments and Banking.

Google Wallet has all the elements of the value chain: a mobile operator (Sprint), a bank (Citibank), a payment vendor (MasterCard), a technology (NFC) and a handset (in this case, Google brought its Nexus S 4G device). "By setting a role for each player, Google is trying to address a key issue in mobile payments: more partners, means more fees and fewer incentives to break the current offline model," says Jose Magana. Google would benefit from providing users with coupons and deals, thus giving them another reason to choose its Android platform over others and maintaining Google's position in the mobile space as a leading search provider. "By the same token, Groupon has built a multimillion business around deals, so there is interesting revenue to be made," he adds.

Read the full Pyramid Point here.

To learn more about Pyramid's perspective on the mobile payments and banking market, download content from the Mobile Commerce Landscape Insight Pack. The Mobile Commerce Landscape Insight Pack is a new research service that combines extensive database resources with high-level expert analysis to enable operators to identify and exploit new telecom revenue opportunities in mobile payment and banking.

Pyramid Research (www.pyr.com) offers practical solutions to the complex demands our clients face in the global communications industry. Our analysis is uniquely positioned at the intersection of emerging markets, emerging technologies and emerging business models, powered by the bottom-up methodology of our market forecasts for more than 100 countries – a distinction that has remained unmatched for more than 25 years. As a telecom research arm of the Light Reading Communications Network (www.lrcn.com), Pyramid Research contributes to the only integrated business information platform serving the $4 trillion global communications industry.

The Light Reading Communications Network (www.lrcn.com) combines the most trusted telecom research brands with award-winning online communities and a rich events portfolio to deliver the only integrated business information platform serving the global communications industry. With the power of this platform, leaders who build, deploy, finance and regulate next-generation telecom networks are able to make more informed decisions on emerging market and service opportunities. The Light Reading Communications Network is a division of UBM TechWeb (www.ubmtechweb.com), the global leader in technology media and business information.

Press Contact:
Jennifer Baker
Marketing Director, Light Reading Communications Network
617 871 1910
jbaker@lightreading.com

SOURCE Pyramid Research

A Competitive Benchmarking Report on Mastercard Incorporated

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October 28, 2011 06:42 AM Eastern Daylight Time

Research and Markets: Mastercard Incorporated: a Competitive Benchmarking Report

DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of The Business Analysts Group's "Mastercard Incorporated : Competitive Benchmarking Report" company profile to their extensive offering.

This analytical report is especially created for top management, investors, business analysts and decision makers to get a comprehensive perspective on product offerings, financial performance, market/industry position, and business strategies etc of Mastercard Incorporated in relation to its competitors and industry segment.

This report compares Mastercard Incorporated with its closest competitors on various parameters such as business segments, product offerings and their USPs (unique selling points), geographical coverage, financial performance, M&A developments and business strategies.

Besides a comparative analysis on these metrics, this Competitive Benchmarking Report has two USPs, which distinguishes this report from any other available competitive benchmarking report on Mastercard Incorporated: 1. Industry Analysis Section: This section covers an analytical overview on the respective industry segment, size, forecast, segmentation, trends, issues, challenges, opportunities and ranking of top players in the industry. 2. Comparative SWOT analysis on Mastercard Incorporated and its competitors.

This report offers a comprehensive overview on the key strategies adopted by Mastercard Incorporated to gain a stronger market position in this competitive environment. It can be best used to derive a framework for strategic planning with key success factors (KSFs) of the industry or marketplace on specific metrics. From a strategic decision making perspective, it can be further used to develop future quality and market initiatives for the company to enhance its overall competitive position.

Note: Delivery Will Take 4-6 Business Days as All These Reports Are Custom Generated at the Time of Order to Ensure the Information is as Current as Possible.

For more information visit http://www.researchandmarkets.com/research/4cec3f/mastercard_incorpo

Green Dot Expands Walmart MoneyCard Product Line with GE

October 28, 2011 08:30 AM Eastern Daylight Time

Green Dot, Walmart and GE Expand the Walmart MoneyCard Family of Products

New products drive growth in new customer acquisition for Walmart prepaid card products

MONROVIA, Calif.--(BUSINESS WIRE)--Green Dot Corporation (NYSE:GDOT), a leading prepaid financial services company, today announced that, together with GE Capital Retail Bank and Walmart, it has expanded the Walmart MoneyCard® prepaid card product line sold at Walmart stores nationwide and online at walmartmoneycard.com. The new products will be part of a rebrand of the entire product line, which is scheduled to roll out nationwide during the fourth quarter. The innovative new package design showcases the prepaid card and provides consumers with a broad range of product choices to fit their need. The Walmart MoneyCard is issued by GE Capital Retail Bank.

“With the new Visa and MasterCard MoneyCards we have doubled the number of products offered through Walmart. This initiative is another example of how Green Dot, Walmart and GE continue to drive innovation in the prepaid industry with the goal of better serving customers and continuing to grow sales.”

The Walmart MoneyCard program has added three new products to the current suite of offerings, including a Visa Gold MoneyCard, a MasterCard Family Edition MoneyCard and a MasterCard Bill Pay MoneyCard. Using sophisticated customer segmentation analysis, we created new products designed to expand customer awareness and acquisition of Walmart MoneyCard products. These new products are targeted to specific usage segments of Walmart customers based on deeper understanding of the customer.

Mark Troughton, Green Dot’s President, Cards and Network, stated: “With the new Visa and MasterCard MoneyCards we have doubled the number of products offered through Walmart. This initiative is another example of how Green Dot, Walmart and GE continue to drive innovation in the prepaid industry with the goal of better serving customers and continuing to grow sales."

Walmart is supporting the launch of the new cards with a new “Do More With a MoneyCard Card” campaign, updated permanent signage in the Money Center featuring the full product line and seasonal signage for both the Money Center and Customer Service Center, as well as upgraded displays and a series of in-store events to engage Walmart associates and educate them on the new products.

About Green Dot Corporation

Green Dot is a leading prepaid financial services company providing simple, low-cost and convenient money management solutions to a broad base of U.S. consumers. Green Dot also owns and operates the Green Dot Network, the nation’s leading prepaid card reload network. Green Dot products are available online at http://www.greendot.com and at more than 55,000 retail stores, including Walmart, Walgreens, CVS/pharmacy, Rite Aid, 7-Eleven, Kroger, Kmart, Meijer, and Radio Shack. Green Dot is headquartered in the greater Los Angeles area. For more details, visit http://www.greendot.com.

About GE Capital Retail Finance

GE Capital’s Retail Finance business is among the country’s most successful retail lenders, with more than 75 years of experience in consumer financing. The business, which originates loans as a unit of GE Capital Retail Bank, provides credit card programs to retailers and consumers in the United States and Canada. This includes customized private label and bankcard credit programs to major retailers in the U.S., as well as private label credit card programs, promotional and installment lending, bankcards and financial services for consumers through dealers; national, regional and independent retailers; contractors; manufacturers; healthcare practices; and service providers across more than 20 retail segments including: automotive, appliances and consumer electronics, elective health care, floor covering, home design and improvement, home furnishings, jewelry, music, powersports, outdoor power equipment and sporting goods. More information can be found at www.gecapital.com.

About Walmart

Wal-Mart Stores, Inc. (NYSE: WMT) serves customers and members more than 200 million times per week at over 9,600 retail units under 69 different banners in 28 countries. With fiscal year 2011 sales of $419 billion, Walmart employs 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://walmartstores.com and on Twitter at http://twitter.com/walmart. Online merchandise sales are available at http://www.walmart.com and http://www.samsclub.com.

Heartland Payment Systems, Inc. Announces Participation in November 2011 Conferences

October 27, 2011 04:05 PM 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 Robert Baldwin, President, and Maria Rueda, Chief Financial Officer, will be webcasting their presentations from the following two November conferences.

Wells Fargo Securities, Technology, Media & Telecom Conference being held at The New York Palace Hotel in New York, NY on November 8, 2011 at 2:05 P.M. Eastern Time
J. P. Morgan Ultimate Services Investor Conference being held at J. P. Morgan Conference Center in New York, NY on November 9, 2011 at 2:45 P.M. Eastern Time

Events featuring a live webcast are available on the Investor Relations section of Heartland’s website at:http://www.heartlandpaymentsystems.com. Webcasts are archived on the Company’s website for two weeks after the live presentation.

Strong PrePaid Adoption for FIS

October 28, 2011 08:15 AM Eastern Daylight Time

FIS Sees Strong Adoption of Prepaid Solutions

24/7 Card one of more than 80 new agreements signed since beginning of 2011

JACKSONVILLE, Fla.--(BUSINESS WIRE)--FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced it has signed more than 80 new agreements worldwide for its prepaid card processing solutions this year. Each of the new agreements represents a new client converting from a previous provider, or clients entering the prepaid market for the first time. One of its newest prepaid clients, 24/7 Card, will utilize FIS’ innovative systems to enable customers to send money directly from their prepaid 24/7 Visa^® Prepaid Debit + Remit Card.

“24/7 Card is offering an innovative product designed to meet the needs of a rapidly growing demographic of foreign nationals, an underserved demographic”

24/7 Card, headquartered in Los Angeles with an additional location in Manila, Philippines, will team with FIS and Central National Bank of Enid as issuer (pursuant to a license from Visa U.S.A.) to launch its reloadable prepaid card designed specifically for foreign nationals living in the U.S. Starting with the Filipino community, 24/7 Card provides its customers the combined benefits of a prepaid debit card with the ability to send money to loved ones in the Philippines. Cardholders can use their cards to make purchases and ATM cash withdrawals, and remit money to the Philippines or 20 additional countries.

Prepaid programs are increasingly popular with consumers, providing financial institutions and retailers with new product opportunities that will attract and retain customers. Prepaid programs are also increasingly being utilized by government entities around the world to provide cash-based benefits to their residents. FIS provides robust, end-to-end solutions for the development, processing and administration of prepaid programs. FIS prepaid processing solutions include all aspects of prepaid card processing – account set up and management, card production and personalization, inventory management and customized distribution solutions, transaction processing, fraud detection and prevention, funds settlement, call center and IVR/VRU customer service, dispute processing, detailed reporting and mobile and Web hosting services.

“24/7 Card is offering an innovative product designed to meet the needs of a rapidly growing demographic of foreign nationals, an underserved demographic,” said Lance Rosenzweig, chief executive officer, 24/7 Card. “To have the capabilities needed to launch this new product, we require a technology solution that is equally advanced. We were impressed by FIS’ prepaid expertise and its ability to integrate with our existing systems and provide real-time capabilities.”

“FIS is a leader in the prepaid card market with more than 100 million cards and over 775 million transactions processed annually on our platforms,” said Frank D’Angelo, executive vice president, FIS Payment Solutions Group. “The excellent adoption rate of our prepaid solutions in just the first nine months of this year is a testament to the caliber of our solutions.”

About 24/7 Card

24/7 Card (www.247card.com) is a financial services company headquartered in Los Angeles, with operations in Manila, Philippines. The company’s new 24/7 Visa Prepaid Debit + Remit Card was created to meet the personal financial needs of Filipinos and other immigrants in the United States. 24/7 Cardholders can safely and securely pay bills, remit money overseas and shop everywhere Visa Debit Cards are accepted – at home or on the road. 24/7 Card is supported by world boxing champion and Philippine congressman Manny Pacquiao. The 24/7 Visa Card will be issued by Central National Bank & Trust Company of Enid, Oklahoma, pursuant to a license from Visa U.S.A. Inc.

About FIS

FIS (NYSE: FIS) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 33,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is ranked third on the Barron’s 500, 426 on the Fortune 500 and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.

Green Dot Reports Q3 2011 Financial Results

October 27, 2011 04:12 PM Eastern Daylight Time

MONROVIA, Calif.--(BUSINESS WIRE)--Green Dot Corporation (NYSE: GDOT), a leading prepaid financial services company, today reported financial results for the third quarter ended September 30, 2011.

“The continued robust growth in our key top-line metrics, including new cards activated, first time reloading customers, and gross dollar volume loaded through our network, all indicate that our products' value proposition is increasingly resonating in the marketplace.”

“We are pleased with our third quarter results. In Q3 we reported a 26% increase in non-GAAP total operating revenues to $119 million and a 26% increase in adjusted EBITDA to $31 million,” said Steve Streit, Green Dot's Chairman and Chief Executive Officer. “The continued robust growth in our key top-line metrics, including new cards activated, first time reloading customers, and gross dollar volume loaded through our network, all indicate that our products' value proposition is increasingly resonating in the marketplace."

GAAP financial results for the third quarter of 2011 compared to the third quarter of 2010:

Total operating revenues on a generally accepted accounting principles (GAAP) basis increased 30% to $115.4 million for the third quarter of 2011 from $88.9 million for the third quarter of 2010
GAAP net income increased 48% to $13.3 million for the third quarter of 2011 from $9.0 million for the third quarter of 2010
GAAP basic and diluted earnings per common share were $0.32 and $0.30, respectively, for the third quarter of 2011 and $0.22 and $0.20, respectively, for the third quarter of 2010

Non-GAAP financial results for the third quarter of 2011 compared to the third quarter of 2010:¹

Non-GAAP total operating revenues¹increased 26% to $118.9 million for the third quarter of 2011 from $94.1 million for the third quarter of 2010
Non-GAAP net income¹ increased 32% to $17.2 million for the third quarter of 2011 from $13.0 million for the third quarter of 2010
Non-GAAP diluted earnings per share¹ were $0.39 for the third quarter of 2011 and $0.30 for the third quarter of 2010
EBITDA plus employee stock-based compensation expense and stock-based retailer incentive compensation expense (adjusted EBITDA¹) increased 26% to $30.9 million for the third quarter of 2011 compared to $24.4 million for the third quarter of 2010

Key business metrics for the quarter ended September 30, 2011:

Number of general purpose reloadable (GPR) debit cards activated was 1.96 million for the third quarter of 2011, an increase of 490,000, or 33%, over the third quarter of 2010
Number of cash transfers was 8.87 million for the third quarter of 2011, an increase of 1.98 million, or 29%, over the third quarter of 2010
Number of active cards at quarter end was 4.15 million, an increase of 870,000, or 27%, over the third quarter of 2010
Gross dollar volume was $4.1 billion for the third quarter of 2011, an increase of $1.6 billion, or 63%, over the third quarter of 2010

Refer to the Company's Quarterly Report on Form 10-Q for a description of these key business metrics.