Industry News

The October announcement that the sale of Humboldt Bancorp's merchant bankcard operations to iPayment Holdings fell through could have some short-term negative effects on the proposed acquirer, according to Marc Abbey, partner with First Annapolis Consulting, Linthicum, Md.

   The deal, originally announced on July 22, was terminated on Oct. 3. Neither side would discuss the deal outside of the prepared press release.
   "The proposed transaction was negotiated to provide for both the realization of value for our shareholders and job preservation for about 80 employees," Humboldt President and CEO Robert M. Daugherty said in the release. "We have received other expressions of interest as a result of our September 13 announcement and are reviewing all strategic options for this business with our investment banker."
   Humboldt is still likely to exit the merchant bankcard business, according to Abbey. iPayment Technologies, which had been growing through acquisitions, lost a potential good deal when the agreement fell through, Abbey added.

Thales recently launched six MultiPort Kits based on its Artema Portable terminals.�

Artema Portable is a handheld payment device that works like a cordless phone with a base that completes the actual telephone communication. Artema MultiPort Kits permit multiple Artema Portables to access a single phone line at once.� Merchants save money by eliminating the need for multiple phone lines even though they may need more than one terminal.� All Artema terminals are high-performance POS devices with a 32-bit RISC processor, expanded memory capable of multi-application support, a printer and modem.

SchlumbergerSema recently launched its MagIC Evolution POS terminals designed for the new generation of smart card payments. This new family of POS terminals extends the MagIC payment platform to give merchant's flexibility for future e-payment programs, as well as a smart card-capable infrastructure to support multi-application smart card-based programs and services.

The new terminals are designed to balance the increasing complexity of e-payment transactions with exceptional high performance to provide the ideal combination of speed and security.

Apriva and Paymentech have teamed up to provide a wireless payment solution to Paymentech merchants.

Under the agreement between the two companies, Paymentech will resell the wireless gateway service, along with the Apriva POS solution to the merchant base.

VeriFone Inc. recently introduced the VeriFone CR 1000i, a check imaging peripheral for the retail point-of-sale that integrates with existing payment terminals to facilitate electronic check conversion.

The VeriFone CR 1000i employs advanced imaging technologies with a design that minimizes counter space. Originally designed for use in the multi-lane retail POS environment, the CR 1000i has been enhanced with communication options that make it a solution for smaller merchants served by the traditional countertop payment terminal market.

ClearCommerce Corporation recently added a multi-merchant version of Verified by Visa, a cardholder authentication service by Visa U.S.A.

Among the first to implement the ClearCommerce solution is First National Merchant Solutions (FNMS), a wholly owned subsidiary of First National Bank of Omaha and one of the nation's largest card acquirers. FNMS has become a leader in the merchant processing industry by providing the latest in card-processing technologies and assisting clients in the reduction of chargebacks and fraud.

RDM Corp. has sued Ingenico, alleging that Ingenico is in breach of an agreement between the two companies related to Igenico's property rights.

Igenico officials responded that the Ingenico 2600 check reader/imager was developed to meet marketplace needs using engineering expertise earned from developing and installing over 500,000 check readers during the past 6 years.
Ingenico further states that the company denies that it owes any contractual or other obligations to RDM that would prevent Ingenico from making or selling the Ingenico 2600.