These are among the findings explored in a series of new research reports from TowerGroup, which examine the top business drivers, strategic responses and technology priorities that will fuel core sectors of the global financial service industry in 2007.
    TowerGroup finds fundamental innovation - based on real-time transactions, interconnected services, advanced customer analytics and business intelligence - to be critical for financial services institutions. Understanding core business drivers, strategic responses, and technology initiatives for 2007 and beyond will help financial services executives embark on the dialogue regarding innovation that each institution must have relative to its future.

    The total purchase price is approximately $142 million on a fully- diluted basis.
    ECHO, based in Camarillo, Calif., is a leading provider of end-to-end payment processing solutions, including check and bank card processing as well as check verification, collection, and guarantee services and automatic clearing house capabilities, or ACH.
    “The acquisition of ECHO will expand Intuit’s reach and capabilities in the fast-growing payments market,” said Steve Bennett, Intuit President and Chief Executive Officer. “It will enhance our leadership position with small and medium-size businesses and help us accelerate growth.”

   

    Industry sales growth will continue to be strongest in the Western and the Southern U.S., driven by growth in local economies, disposable income and population. With expected national sales of $537 billion, a total economic impact of more than $1.3 trillion, and 12.8 million employees in 2007, the nation's 935,000 restaurants are a driving force in national and state economies and job creation. Nevada is expected to lead the nation in sales growth next year, while Arizona will post the largest growth in jobs by 2017.
    Nationally, restaurant-industry sales are expected to increase by 5.0 percent in 2007, or 2.1 percent real (inflation-adjusted) growth. Among the states, Nevada is expected to lead the nation with 8.1 percent sales growth; Arizona follows with 7.6 percent, Florida with 7.1 percent, Texas with 6.9 percent, and Idaho with 6.5 percent. The highest restaurant-sales volume is expected in California, where sales are expected to reach $54.2 billion, Texas at $32.0 billion, New York at $27.0 billion, Florida at $25.7 billion, and Illinois at $17.8 billion.

    S&H Solutions is a leading provider of customer-based loyalty marketing and retail solutions. Many years and more than $200 million dollars have gone into developing the company's real-time marketing technologies, including a highly sophisticated analytical engine that enables retailers to deliver one-to-one consumer messages in-store through multiple proprietary platforms.
    S&H Solutions' suite of services also includes the S&H greenpoints® Reward Program, the digital reinvention of the Sperry & Hutchinson Company's Green Stamps. The nation's first loyalty marketing program (circa 1896), the S&H greenpoints program rewards millions of consumers with points for every dollar they spend at participating merchants.

   

   
    Recommendations for keeping your gift cards safe this season are:

• Make sure to double check the section on the back of the card where the personal identification information is before you purchase it - if it appears to already be scratched off, take it to a customer service representative
• Only purchase gift cards from reputable sources and not online auction sites where they are likely to be counterfeit or were fraudulently obtained.

    NRF estimates that gift card sales will total $24.81 billion this holiday season, up from $18.48 billion last year.

    Through multiple agreements with regional banks, card processors and payment technology integrators, PayChest can now deliver a true e- commerce solution to online merchants and simultaneously provide a fully integrated electronic payment gateway

    The Comstar interface for the WAY Systems MTT has been in production since November 16, 2006.

    After announcing four new retailer-branded card programs earlier this year, and today's related news that Fiserv EFT will provide expanded processor access to the Tempo Payment Network for merchants issuing and accepting retailer-branded debit cards, Tempo is embarking on its next growth phase by building visibility for the Tempo Payment Network. Just as banks issue their own branded cards with a unifying MasterCard or Visa logo, retailers will be able to issue their own branded cards with a unifying Tempo logo that assures consumers of their ability to use the cards nationwide.

    Developed by Boulder-based FEED Tribes, the mobile payment system combines carrier-agnostic text-message transaction capabilities with a multi-channel communication and promotional platform for merchants to build affinity relationships with their customers.
    The FEED Tribes system dramatically reduces payment processing fees, which can mean millions in savings to national chain retailers, and delivers a powerful multi-channel marketing platform that engages customers at every level.

    ECS now combines the benefits of real-time check authorization and risk mitigation services with back-office image uploads, resulting in improved cash flow and reduced risk.
    NOVA is the only provider of electronic check acceptance solutions to automatically and systemically leverage three hosted processing methods: direct DDA access, ACH processing, and the banking network adhering to Check 21 regulations.

    For the first time, the survey examines both the purchase and use of single-merchant gift cards, those that can only be used at one retailer, as well as multi-merchant gift cards, those that can be used at multiple retailers.
    Nearly eight out of 10 (78%) American adults who responded to an online survey purchased or received a gift card in the previous 12 months and nearly half (43%) did both, according to the survey.
    The study also indicates that single-merchant gift cards are more heavily purchased with an average of 4.7 cards per purchaser. However, multi-merchant gift cards, averaging 2.6 cards per purchaser, are increasing in popularity as choice and convenience continue to drive the market.

    Additionally, the survey found that merchants face limited growth opportunities with traditional membership rewards cards used today as part of loyalty programs. Less than 20 percent of survey respondents indicated they would be willing to carry additional reward cards.
    However, consumers did express strong interest in using a prepaid balance at merchants where they frequently shop with 27 percent of survey participants responding positively when asked if this was of interest. Younger Americans are even more likely to adopt a prepaid program with a positive response rate of 42 percent for those ages 18 to 34.

    “InfoMerchant is an information portal that focuses on the policies and needs of product and development in the credit card processing industry,”stated Steven Santos, Owner/Founder of InfoMerchant.net. “The idea is to give consumers and merchants a leg up in how to process credit cards and establish a means of understanding the merchant world. Our affiliate relationship with FAST TRANSACT helps us to deliver an end product solution that establishes credibility in the do's and don'ts of recognizing what merchant account is right for the merchant.”

    Together, they offer fully integrated management solutions with a payment gateway that accepts and processes credit, debit and gift card transactions quickly, accurately and securely.

    The combination of a leading point-of-sale (POS) software solution with payment processing provides small and midsized retailers with a customizable solution to manage store operations and retail tasks such as inventory control and pricing.
    "By working with Microsoft, our merchant customers gain the benefit of retail operations software combined with Moneris's card processing expertise at the point-of-sale," said Brian Green, Senior Vice President, Moneris. "With the explosion of broadband IP networks, retailers are increasingly turning to applications that are integrated and provide economies of scale across multiple checkouts and store locations; Microsoft Retail Management System is a powerful answer to this demand." Euronet Worldwide, Inc., a leading electronic payments provider, announced the execution of a stock purchase agreement to acquire Los Angeles-based RIA Envia, Inc. ("Ria"). Euronet will acquire 100% of Ria's outstanding common stock for $380 million in cash, $110 million in Euronet stock (approximately 7.9% of Euronet's September 30, 2006 diluted weighted average shares outstanding using Euronet's closing share price on November 20, 2006) and certain contingent value and stock appreciation rights. The transaction will be treated as an asset sale under Section 338(h)(10) of the Internal Revenue Code and is anticipated to be closed during the first or second quarter of 2007, subject to regulatory approvals and other customary closing conditions.

    MMS, an electronic payment provider with a solid reputation for its range of processing services, offers its merchants and Independent Sales Organizations (ISOs) a wide array of payment vehicles. These include credit and debit card processing, check conversion, gift and loyalty card processing and electronic benefits transfers. AdvanceMe's funding approach integrates access to working capital with credit card processing, making it a natural fit with MMS' products and services.

    The deployment is the largest rollout to date of contactless technology in self service point of sale and vending machines.
    This rollout of an additional 5,000 self service locations follows the recent deployment of USA Technologies' e-Port by MasterCard and USA Technologies in vending machines in Philadelphia and the surrounding tri-state area. The 5,000 e-Ports will be deployed throughout the U.S in New York City, Dallas, Chicago, Las Vegas, San Francisco, Los Angeles, Boston, Washington D.C., Denver, Seattle, Miami and Orlando. The deployment will encompass several major brand names, in multiple environments including workplace environments, entertainment locations, travel locations, educational institutions, healthcare facilities and others. USA Technologies' Generation Six (G6) e-Port radio frequency technology was developed specifically to accept contactless payments such as MasterCard PayPass.
    Consumers no longer need cash and coins. To use the e-Port cashless payment technology, consumers simply tap their MasterCard PayPass- enabled payment card or device on the e-Port terminal. Within seconds, the terminal will flash a light and produce a tone signaling the transaction is complete. As with all MasterCard PayPass transactions under $25, no signature will be required. The terminals will also accept traditional magnetic-stripe payment cards.