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All GLG News Analyses Filed Under: Transaction & Payment Processing

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Posted May 25, 2007
Wait three years before you act on the claims of research firms
Analysis of: Bank Tech Experts Discuss Vendor Relationships | www.banktech.com
Author: Art Gillis, President Computer Based Solutions, Inc.

- Two and a half years ago an article in the American Banker quoted a bank tech research firm as predicting that major banks were going to convert to new core systems within the next two years. - Not one single large bank in the U.S. has converted their legacy core system to a platform based on...

Posted May 18, 2007

Selection of old bull from US credit card industry as Visa Inc. CEO a disappointment
Analysis of: Visa Looks for a CEO And Finds One in Its Wallet | online.wsj.com
Author: GLG Member Program Contributor

US-credit-industry-veteran Joe Saunders to run Visa Inc. was a conventional and uninspiring choice to lead the global payment network’s IPO and transform it into a competitive commercial enterprise.

Posted May 18, 2007
Private Equity Firm Blackstone Capital Partners to Acquire Alliance Data for $7.8 Billion
Analysis of: Alliance Data To Be Acquired by The Blackstone Group | www.paymentsnews.com
Author: Kamala Worthington, Former VP, Marketing Product Manager Bank of America Corporation

Key Implications: Alliance Data, the private-label processor for speciality retailers, has agreed to be acquired by Blackstone Capital Partners for $7.8 billion, including $1.1 billion in debt. Alliance Data is an 11-year old payments processor and sells marketing programs to clients such as Citigroup,...

Posted May 18, 2007
Check 21 Milestone: Check Image Volumes Usurps Check Volumes First Time In History
Analysis of: Milestone - Check Image Volume Surpasses Paper Check Volume | www.paymentsnews.com
Author: Kamala Worthington, Former VP, Marketing Product Manager Bank of America Corporation

Key Implications: SVPCO, the Clearing House Payments Company, announced a major milestone this week, reporting that for the first time in its history check image volumes and dollar value surpassed paper check volumes and dollar value, representing 51% of the 193.9 million items processed in April 2007....

Posted May 15, 2007

Just more talk or are European banks now ready to make a third card payment network a reality?
Analysis of: Report: Banks eye pan-Euro debit card | www.cnn.com
Author: GLG Member Program Contributor

If enough retail banks with reach were to put capital in and commit to an independent European payment network and if it cleared the regulatory gauntlet and offered its customers meaningfully higher interchange, it might be viable, increase payment network competition and take share from MasterCard...

Posted May 15, 2007

Posted May 14, 2007
A Retail Banking Upgrade at Citi Would Make Some Vendor Thrilled
Analysis of: Citi Weighing Retail Upgrades? | www.americanbanker.com
Author: Bill Bradway, Founder & Managing Director Bradway Research, LLC

Citi's recently announced $4.6 billion cost reduction program has led to speculation that the bank may consider a retail core banking system upgrade. An estimated $1.6 billion of these cost savings are tagged for IT savings. Included in these IT cost savings are a reduction of data centers from 42 to...

Posted May 10, 2007
EFD Considers Strategic Options After 1st Quarter Dip In Earnings
Analysis of: EFD| eFunds Corporation Announces Intent to Undertake Review of Strategic Options and First Quarter 2007 Financial Results | biz.yahoo.com
Author: Kamala Worthington, Former VP, Marketing Product Manager Bank of America Corporation

Key Implications:EFD announced 1st Quarter earnings on 5.9.07, reporting a dip in net income by 1.4% to $10.5 million, down from $10.7 million during the same period in 2006. EFD's revenue also declined by 4% to $134 million, down from $140 million in 1st Quarter 2006. EFD received a $1.3...

Posted May 10, 2007
Hypercom Readies For Growth After 1st Quarter Strategic Assessment of Operations
Analysis of: Hypercom Corporation Announces First Quarter 2007 Financial Results | biz.yahoo.com
Author: Kamala Worthington, Former VP, Marketing Product Manager Bank of America Corporation

Key Implications:Hypercom's revenue is up by 6.3% or $64.8 million, compared to $60.9 million during the same quarter in 2006. Hypercom acquired ACG Group and TPI Software, which resulted in $2.5 million in revenue in the 1st Quarter and the acquisitions also produced higher margins than some...

Posted May 9, 2007

MasterCard Raises the Bar
Analysis of: A Charge to Risky Peaks | online.barrons.com
Author: GLG Member Program Contributor

MasterCard bared its business model’s power, its inherent growth potential and the value of its global network. Bravo! Now is the time to get more aggressive. If there is a danger it is of management complaisance a year out of the gate, and of provoking regulators who already have the global payment...

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