Breaking Industry News
Breaking News articles for April 2007
KKR can't resist FD 'cash-flow machine'
Friday, April 20, 2007
Cash flow can be irresistible, particularly to takeover artists like private equity firm Kohlberg Kravis Roberts & Co. KKR, which is credited with perfecting the leveraged buyout, has agreed to pay $29 billion for First Data Corp., or $34 per share. The deal makes perfect sense, noted Jefferies & Company analyst Craig Peckham. "FDC is a free cash flow machine with maturing growth prospects … and senior management is in the midst of transition, with CEO Ric Duques expected to 're-retire' this year."
Prepaid cards make for big stored value – Part II
Tuesday, April 17, 2007
The value proposition behind prepaid cards is easy to make: ISOs wanting to differentiate themselves offer the breadth of stored value products retailers are seeking, according to William Biwer, President of Smart Card Solutions LLC. "They want to be able to provide gift and loyalty applications to provide a full suite of products for the merchant," he said.
Intuit – ECHO kaput, fed crackdown afoot
Wednesday, April 04, 2007
Electronic Clearing House Inc.'s foray into processing Internet wallets for online gaming six years ago has had unfortunate consequences. Intuit backed out of an agreement to buy the company when ECHO disclosed and quickly settled a federal probe in late March for $2.3 million.
The Green Sheet's cruisin' side
Monday, April 02, 2007
Last year, The Green Sheet Inc. founder, President and Chief Executive Officer Paul H. Green applied what he has learned through 24 years of service to the ISO and merchant level salesperson community to another group with whom he shares a passion: hot rod, vintage, classic and antique car enthusiasts and their myriad clubs.
New check conversion rules now in effect
Sunday, April 01, 2007
The shift from paper to electronic checks is nearing a tipping point, as new automated clearing house (ACH) rules make it possible for merchants and other businesses to convert more paper to ACH debits.
