Cards

Shortages of key components cost Hypercom Corp. $6 million in second-quarter product revenue, despite strong demand for the company’s point-of-sale products and services, says Philippe Tartavull, Hypercom CEO and president, during an Aug. 4 conference call to discuss earnings with analysts.

Consumers continue to show a preference for using debit cards at the point of sale, but increasingly many are using alternative payment services for online purchases, new research suggests.

Reductions in consumer card use in casinos is adversely affecting Global Cash Access Holdings Inc.’s financial performance, Scott Betts, the company’s president and CEO, informed analysts during an Aug. 4 conference call to discuss second-quarter earnings.

Supported by CardSmith LLC, New England Conservatory this week launched an upgraded multiapplication campus card program that makes the campus virtually cashless, the Doylestown, Pa.-based campus card service provider announced on Aug. 2.

Turkish bank Akbank TAS is hoping to bring contactless mobile payments to its customers through a partnership agreement announced this week with Visa Europe.

Point-of-sale terminal maker Hypercom Corp. late on Aug. 4 reported revenues of $103.9 million for the second quarter ended June 30, down 1.6% from $105.6 million during the same period last year. However, the Scottsdale, Ariz.-based company reported a $1.26 million net loss, in part because of component shortages that affected revenue; it reported net income of $1.26 million during the same period last year.

State Farm Bank is the latest financial services company to offer a remote deposit capture service to its mobile customers.

Plastyc Inc. has revamped its mobile banking website for prepaid card customers.

ATM independent sales organization Cardtronics Inc. on Aug. 4 reported net income of $8.2 million for the second quarter ended June 30, up 228% from $2.5 million during the same period last year. Revenues totaled $133 million, up 6.6% from $124.7 million.

Improving same-store sales and a stabilizing economy appear to be helping Heartland Payment Systems Inc. turn itself around financially.

A new product designed to reduce the potential for card skimming will be available by early November, says Bellatrix Systems Inc., developer of the Card At Table Service.

The Network for Electronic Transfers Singapore, commonly referred to as NETS, and telecommunication operator Nera Telecommunications Ltd. on Aug. 2 launched a contactless smart card payment system for one of Singapore’s private bus networks.

The Australian city of Melbourne on July 25 extended the use of the Myki smartcard transit system to include trams and buses, according to the Transport Ticketing Authority, which operates the contactless card program.

More than one-fourth of bank customers plan to pay for ATM and debit card overdraft protection under new rules taking effect this month that require consumers to opt in to receive the services, according to a new survey from a nonprofit credit-counseling organization.

MasterCard Inc.’s role as the second-largest brand to Visa Inc. in the U.S. credit and debit card markets along with economic uncertainty will continue to cast a shadow on the company’s domestic performance for the remainder of the year, MasterCard CEO Ajay Banga told analysts during an Aug. 3 conference call to discuss second-quarter earnings.

MasterCard Worldwide on Aug. 3 reported double-digit growth in worldwide purchase volume and cross-border spending for the second quarter ended June 30.

Tempo Payments Inc. is on the verge of partnering with more for-profit organizations wanting to use its affinity decoupled debit card program.

Independent sales organization Cardtronics Inc. on Aug. 2 announced a multiyear deal in which its Cardtronics USA Inc. unit will provide ATM-management services in approximately 800 stores operated by Kroger Inc. Terms were not disclosed.

Merchant cash-advance company AmeriMerchant LLC’s merger with CanaFunding LLC this week is enabling independent sales organizations to sell cash-advance services in either the U.S. or Canada, says David Goldin, AmeriMerchant president and CEO.

Standard Chartered Bank India on July 28 announced its first mobile ATM in Mumbai. The machine is mounted on the back of a small truck and enables consumers to perform banking operations, including cash withdrawals, funds transfers, statement requests, mobile and online banking registration, and prepaid mobile top-up services.