All GLG News Analyses Filed Under: Transaction & Payment Processing

ATM's Wearing the Emporer's New Clothes

March 26, 2008

Analysis by: GLG Expert Contributor

Analysis of:Are rising credit card interchange fees hurting ATM usage? | www.atmmarketplace.com

ATM’s may think they have on the cutest outfit in town, but merchants and consumers are continuing to chuckle and just move on by.  The convergence of transparency and information are making them much savvier players these days and ATM’s aren’t keeping up.  It’s not just all about interchange, but all about creating relevancy in a world where virtual payments exist.

Art GillisPresidentComputer Based Solutions, Inc.

Congratulations to all who were in the bank tech world in 1985, and are still here to remember

March 25, 2008

Analysis of:Jack Henry Banking(TM) Expands Client Relationships With Cross Sales of ArgoKeys(R) Branch Sales Automation Platform | www.earthtimes.org

My bookcase contains 22 past editions of Automation in Banking.  The 23rd is still in the oven.  The 22 are dog-eared because I have had to refer to them many times to answer questions from very intelligent readers who had a need to know.  Last week I read the 1985 Edition, and here are some highlights that got my attention:

Capping MasterCard and Visa acceptance fees would ravage the U.S. card payments industry

March 24, 2008

Analysis by: GLG Expert Contributor

Analysis of:Let Market, Not D.C., Set Interchange Rate | www.americanbanker.com

If the “Credit Card Fair Fee Act of 2008” passed, it would devastate the US card payments industry, harming card issuer, network and merchant acquirer economics, to varying degrees. It would also cause higher cardholder fees, reduce payment card transaction and volume growth, and put a damper on payments innovation.

Pay-by-Touch's demise is NOT a “failure” of biometrics.

March 24, 2008

Analysis by: GLG Expert Contributor

Analysis of:Another Hot New Technology Turns Cold | blogs.wsj.com

Pay-by-Touch was a poorly managed company led by an executive team with questionable capabilities and ethics.  Pay-by-Touch's demise represents a "business" failure not a "biometric" failure.   The company offered an innovative retail payment processing solution based on the unique capabilities of biometrics.  There is no indication that the biometric component of the solution is to blame for the failure of the effective deployment of the solution, nor the company itself.

Kamala WorthingtonPresidentKW Marketing Consultant

"V" Is For Visa's Victorious $18 Billion IPO

March 19, 2008

Analysis of:Visa Raises $17.9B in Largest US IPO | biz.yahoo.com

Visa beats expectations to raise $17.9 billion in its IPO and makes the record books as the largest U.S. IPO, amidst a shaky US financial market. Visa's long awaited IPO sparked a great deal of interest from investors  seeking a potential growth opportunity amid a bearish economic climate. In 2006, Visa's global consumer volume surpassed 59 billion transactions valued at $4.4. trillion. Approximately $828 billion of this volume occurred in the US and trends show volume is up by 14% over 2005 and continues upward. Visa is hoping that consumers' will continue to bring their Visa debit and credit cards for everyday purchases as higher transaction volumes and higher transaction fees are expected to drive Visa's growth over the next 5-8 years and Visa plans to capitalize on the trend of consumers shifting their payment preferences from cash and checks to debit and credit cards. Visa and MasterCard has been the biggest drivers of consumers' shifting from paper to plastic purchases.

You Say You Want a Revolution?

March 17, 2008

Analysis by: GLG Expert Contributor

Analysis of:Interchange act coming back stronger | www.greensheet.com

As payment transactions increasingly move to non-cash based products, the need to create an interchange system in the U.S. that makes sense for all parties will only grow more urgent.  Merchants have made it perfectly clear they will continue their fight to be recognized as participants in the rate-setting process.  Emerging payment providers and networks are also putting pressure on the legacy product providers to create new value propositions.  Investors will demand greater transparency.  Are the dynamics falling into place for a revolution?

John SalomoneManaging DirectorStructured Finance International, LLC

Still Room for (ATM) Cash Flow Buyers

March 17, 2008

Analysis of:ATMs and a changing biz model | www.greensheet.com

Right if you seek only Equity Returns from an ATM Portfolio, but timing is ripe for Fixed Income investors. All the warnings and diligence advice is right on the button, but if you are looking to replace minimal returns on a portion of your fixed income portfolio, a properly structured ATM buy can produce premium returns. Buying ATM's and their cash flow, just like all business transactions, reveal their true worth on the buy side of the transaction. A properly structured set of purchase terms manages and boxes the risks and ensures a proper return. ATM's for fixed income investors may just be the right time in the right place.

Art GillisPresidentComputer Based Solutions, Inc.

Consolidation - Predictable for banks, Anything goes for tech vendors

March 14, 2008

Analysis of:Fiserv to integrate CheckFree, Interactive Technologies | atmmarketplace.com

It’s numbers crunching season again for me, and my outlook has been confirmed as if a combined team of Big Four auditors ripped through my databases looking for errors, omissions and even fraudulent opinions.The financial institutions landscape:The number of banks, thrifts and credit unions continues to contract at the consistent average annual rate of 3.44% (2.4% to 7.7% for the past 18 years).  I didn’t round it; it’s the real math, and the real numbers as reported by Highline Financial. So if you want to use a pretty good figure to project the next ten years, may I suggest 3%?  Don’t ask me why it’s 3%.  Ask Alan and Ben.  That part of the consolidation scene is as predictable as reading ads about bank CD offerings in your local newspaper.  No matter where the dart lands, the answer will be the same.  In 2008, 3% of all FIs will accept the fact that they are going to throw in the towel.  On December 31, 2008 we’ll know the 506 by name.

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

From womb to tomb - have we got a card for you!

March 12, 2008

Analysis of:Ameriprise Financial and MasterCard Worldwide Launch Credit, Debit Product Suite | biz.yahoo.com

1) Amerprise has been aggressive ever since its Personal Advisor and Banking separation from Amercan Express 2) MasterCard appears to be the predominate card network

Unreported Financial Statements:SEC Regulatory Authority Positioning

March 10, 2008

Analysis by: GLG Expert Contributor

Analysis of:Diebold announces delay in 2007 annual-report filing | www.atmmarketplace.com

Implications: 1.A COMPLETE review and compilation of ALL Financial Data over the past two (2) years: Extensive review of Operational Capitalization. 2.A complete analysis of the Firm's Revenue and Expense Recognition policy and procedures of the firm. 3.An entire re-statement of Financial Data for years ending 2006, 2005,2004, 2003.Accounting Magic is the issue at hand. 4.While a re-statement of Financial Data MAY address some issues - It appears as though the Regulatory Agencies have undisclosed matters that must be addressed by the firm.Sec and D.O.J. will require an IN DEPTH analysis. 5.The MOST salient issue - Revenue Recognition: an accounting procedure , which relates to the TIMING and PROCEDURE of revenue allocation. 6.A "Bill and Hold" basis of recognition is HIGHLY suspect, at best!

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