Monday, March 29, 2010

Pivotal Payment Gateway Integrated into HomeATM's PCI Certified Technology for "Card Present" Transactions



Pivotal Payment Gateway Integrated into HomeATM's PCI Certified Technology for "Card Present" Transactions



Integration of the Pivotal Payment Gateway into HomeATM Devices to Open New Market Segments for Mobile Credit Card Processing

MONTREAL, QUEBEC--(Marketwire - March 29, 2010) - Freeport Capital Inc (CNSX:FAS) announced today that it has finalized an agreement with Pivotal Payments, through its First Equity Strategy LLC subsidiary, to integrate the Pivotal Payments Gateway (PPG) with the hand held HomeATM devices.



The HomeATM devices can now be used with laptops, PCs, and Smartphones to accept swiped credit card payments. This allows First Equity Strategy to establish a presence a specialized markets such as delivery services, tradeshows, direct selling, catalog sales and hospitality services where merchants have traditionally had to accept "card-not-present" transactions. With the PPG now integrated into the HomeATM device, merchant can accept "card present transactions" and benefit from substantial savings in processing fees.


"We are excited to announce this agreement with Pivotal Payments," said President Michael Tasillo. "We expect the integration of the PPG on our HomeATM devices to provide significant benefits to a market segment that has to date limited processing options."
"Pivotal is pleased to be able to provide to First Equity Strategy our robust and low cost payment gateway," said Philip Fayer, president of Pivotal Payments. We are certain it will be significant added value to both First Equity Strategy and the merchants it services.
About Freeport Capital Inc.
Freeport Capital Inc. (CNSX:FAS) provides innovative Internet-based point-of-sale (POS) technology solutions for businesses and consumers worldwide. For more information, please visit www.freeportcap.com.
About Pivotal Payments
Pivotal Payments, a privately held company, is a leading merchant services provider with offices across North America. The company provides a full suite of merchant services to small and mid-sized retail businesses, mail order/telephone order merchants, e-commerce, chain stores, franchises, restaurants, and dealerships. Merchant services include credit and debit card processing, electronic check conversion, merchant cash advances, loyalty and gift card programs, as well as terminal management solutions.
Company and product information are available at www.pivotalpayments.com.



Featured Products

PIN DEBIT ONLINE
(card present with Pin)

Ideal for Merchants, Retail shops and Online customers.





  • online buyers,

  • catalogues,

  • auction sites,

  • web-mail,

  • telecom services,

  • pre-paid product,

  • business services,

  • travel, money transfers, taxi / limousine services, etc…


First Equity Strategy now delivers a real-time processing device that is accessible Worldwide by customers with access to the Internet or cell phone. The best of industry processing rates at your fingertips with no monthly fee’s.

Easily connect to your Laptop/PC desktop with a USB connection. Cell phone users dials out… easy!!!




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Pivotal Payment Gateway Integrated into HomeATM's PCI Certified Technology for "Card Present" Transactions



Pivotal Payment Gateway Integrated into HomeATM's PCI Certified Technology for "Card Present" Transactions



Integration of the Pivotal Payment Gateway into HomeATM Devices to Open New Market Segments for Mobile Credit Card Processing

MONTREAL, QUEBEC--(Marketwire - March 29, 2010) - Freeport Capital Inc (CNSX:FAS) announced today that it has finalized an agreement with Pivotal Payments, through its First Equity Strategy LLC subsidiary, to integrate the Pivotal Payments Gateway (PPG) with the hand held HomeATM devices.



The HomeATM devices can now be used with laptops, PCs, and Smartphones to accept swiped credit card payments. This allows First Equity Strategy to establish a presence a specialized markets such as delivery services, tradeshows, direct selling, catalog sales and hospitality services where merchants have traditionally had to accept "card-not-present" transactions. With the PPG now integrated into the HomeATM device, merchant can accept "card present transactions" and benefit from substantial savings in processing fees.


"We are excited to announce this agreement with Pivotal Payments," said President Michael Tasillo. "We expect the integration of the PPG on our HomeATM devices to provide significant benefits to a market segment that has to date limited processing options."
"Pivotal is pleased to be able to provide to First Equity Strategy our robust and low cost payment gateway," said Philip Fayer, president of Pivotal Payments. We are certain it will be significant added value to both First Equity Strategy and the merchants it services.
About Freeport Capital Inc.
Freeport Capital Inc. (CNSX:FAS) provides innovative Internet-based point-of-sale (POS) technology solutions for businesses and consumers worldwide. For more information, please visit www.freeportcap.com.
About Pivotal Payments
Pivotal Payments, a privately held company, is a leading merchant services provider with offices across North America. The company provides a full suite of merchant services to small and mid-sized retail businesses, mail order/telephone order merchants, e-commerce, chain stores, franchises, restaurants, and dealerships. Merchant services include credit and debit card processing, electronic check conversion, merchant cash advances, loyalty and gift card programs, as well as terminal management solutions.
Company and product information are available at www.pivotalpayments.com.



Featured Products

PIN DEBIT ONLINE
(card present with Pin)

Ideal for Merchants, Retail shops and Online customers.





  • online buyers,

  • catalogues,

  • auction sites,

  • web-mail,

  • telecom services,

  • pre-paid product,

  • business services,

  • travel, money transfers, taxi / limousine services, etc…


First Equity Strategy now delivers a real-time processing device that is accessible Worldwide by customers with access to the Internet or cell phone. The best of industry processing rates at your fingertips with no monthly fee’s.

Easily connect to your Laptop/PC desktop with a USB connection. Cell phone users dials out… easy!!!




Reblog this post [with Zemanta]

Citi’s ThankYou Network Celebrates Earth Day’s 40th Anniversary with “Playlists for Earth” and Green Rewards

First 500 ThankYou Members to Submit a “Playlist for Earth” will Receive Five Free Music Downloads from Sony Music Entertainment




NEW YORK – March 29, 2010 –Citi’s ThankYou Network, one of the world's largest loyalty programs, today announced it will celebrate Earth Day’s 40th anniversary by inviting its more than 12 million members to submit a “Playlist for Earth,” based on landmark recordings from the Sony Music Catalogue. The first 500 ThankYou Network Members to submit a “Playlist for Earth” will receive five free music downloads from Sony Music Entertainment.    



Through April 30, ThankYou Network Members can create an inspirational “Playlist for Earth” that can be submitted at ThankYou.com.  Throughout April and May, ThankYou Network will post selected playlists along with member statements about what inspired them to choose their songs. As an additional benefit, ThankYou Members can redeem points for green rewards from environmentally friendly brands and shop for eco-friendly products through the ThankYou Bonus Center, where they can earn extra points on purchases.



“In commemoration of Earth Day’s 40th anniversary on April 22, we wanted to provide our millions of members with the opportunity to express what this milestone means to them through music,” said Nancy Gordon, executive vice president, Citi’s ThankYou Network. “Our relationship with Sony Music Entertainment gives our members virtually instant access to one of the most important music collections in history and we look forward to some very special ‘Playlists for Earth.’”



“Music is a universal language, and in a variety of ways, it has helped connect people and raise awareness around important issues like the environment,” commented Richard Story, President, Commercial Music Group, Sony Music Entertainment. “Enabling Citi’s ThankYou Network Members to interpret Earth Day by creating ‘Playlists for Earth’ will provide a powerful tool and compelling message for protecting our planet.”



Through Citi’s ThankYou Network’s recently expanded rewards collection, members can download music from Sony Music Entertainment by redeeming 100 points per song from a roster of current artists that includes a broad array of both emerging musicians and global superstars.



Since its inception in 2004, Citi’s ThankYou Network has been a pioneer in rewards programs, allowing members to pool points from multiple activities so they can earn and redeem points faster. Citi ThankYou Members can earn points from activities across a range of Citi businesses, such as having an eligible checking account and conducting every day banking activities with Citibank, by using participating Citi credit cards or Morgan Stanley Smith Barney FMA Cards to shop.  ThankYou Members can also earn points by booking eligible travel at Expedia®, or by shopping through the ThankYou Bonus Center, an online shopping mall featuring more than 400 merchants.  



ThankYou Network lives up to its promise of rewarding members in big and exciting ways by offering millions of rewards to choose from including online travel reservations powered by Expedia, a huge selection of merchandise with expedited shipping options, gift cards, and cash.  Members may also use ThankYou Points to make student loan and mortgage payments or create customized rewards with “Your Wish Fulfilled.”



About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.



About Sony Music Entertainment

Sony Music Entertainment is a global recorded music company with a roster of current artists that includes a broad array of both local artists and international superstars. The company boasts a vast catalog that comprises some of the most important recordings in history. It is home to premier record labels representing music from every genre, including American Recordings, Arista Nashville, Arista Records, Aware, Battery Records, Beach Street Records, Black Seal, BNA Records, Cinematic, Columbia Nashville, Columbia Records, Epic Records, Essential Records, Flicker Records, Fo-Yo Soul, GospoCentric, Hitz Committee Entertainment, J Records, Jive Records, LaFace Records, Legacy Recordings, Masterworks, Polo Grounds, RCA Records, RCA Nashville, RCA Red Seal, RCA Victor, Reunion Records, Slightly Dangerous, Sony Classical, Sony Music Latin, Star Time International, Verity Records, and Volcano Entertainment. Sony Music Entertainment is a wholly owned subsidiary of Sony Corporation of America. For more information, visit www.sonymusic.com.



# # #

Citi’s ThankYou Network Celebrates Earth Day’s 40th Anniversary with “Playlists for Earth” and Green Rewards

First 500 ThankYou Members to Submit a “Playlist for Earth” will Receive Five Free Music Downloads from Sony Music Entertainment




NEW YORK – March 29, 2010 –Citi’s ThankYou Network, one of the world's largest loyalty programs, today announced it will celebrate Earth Day’s 40th anniversary by inviting its more than 12 million members to submit a “Playlist for Earth,” based on landmark recordings from the Sony Music Catalogue. The first 500 ThankYou Network Members to submit a “Playlist for Earth” will receive five free music downloads from Sony Music Entertainment.    



Through April 30, ThankYou Network Members can create an inspirational “Playlist for Earth” that can be submitted at ThankYou.com.  Throughout April and May, ThankYou Network will post selected playlists along with member statements about what inspired them to choose their songs. As an additional benefit, ThankYou Members can redeem points for green rewards from environmentally friendly brands and shop for eco-friendly products through the ThankYou Bonus Center, where they can earn extra points on purchases.



“In commemoration of Earth Day’s 40th anniversary on April 22, we wanted to provide our millions of members with the opportunity to express what this milestone means to them through music,” said Nancy Gordon, executive vice president, Citi’s ThankYou Network. “Our relationship with Sony Music Entertainment gives our members virtually instant access to one of the most important music collections in history and we look forward to some very special ‘Playlists for Earth.’”



“Music is a universal language, and in a variety of ways, it has helped connect people and raise awareness around important issues like the environment,” commented Richard Story, President, Commercial Music Group, Sony Music Entertainment. “Enabling Citi’s ThankYou Network Members to interpret Earth Day by creating ‘Playlists for Earth’ will provide a powerful tool and compelling message for protecting our planet.”



Through Citi’s ThankYou Network’s recently expanded rewards collection, members can download music from Sony Music Entertainment by redeeming 100 points per song from a roster of current artists that includes a broad array of both emerging musicians and global superstars.



Since its inception in 2004, Citi’s ThankYou Network has been a pioneer in rewards programs, allowing members to pool points from multiple activities so they can earn and redeem points faster. Citi ThankYou Members can earn points from activities across a range of Citi businesses, such as having an eligible checking account and conducting every day banking activities with Citibank, by using participating Citi credit cards or Morgan Stanley Smith Barney FMA Cards to shop.  ThankYou Members can also earn points by booking eligible travel at Expedia®, or by shopping through the ThankYou Bonus Center, an online shopping mall featuring more than 400 merchants.  



ThankYou Network lives up to its promise of rewarding members in big and exciting ways by offering millions of rewards to choose from including online travel reservations powered by Expedia, a huge selection of merchandise with expedited shipping options, gift cards, and cash.  Members may also use ThankYou Points to make student loan and mortgage payments or create customized rewards with “Your Wish Fulfilled.”



About Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.



About Sony Music Entertainment

Sony Music Entertainment is a global recorded music company with a roster of current artists that includes a broad array of both local artists and international superstars. The company boasts a vast catalog that comprises some of the most important recordings in history. It is home to premier record labels representing music from every genre, including American Recordings, Arista Nashville, Arista Records, Aware, Battery Records, Beach Street Records, Black Seal, BNA Records, Cinematic, Columbia Nashville, Columbia Records, Epic Records, Essential Records, Flicker Records, Fo-Yo Soul, GospoCentric, Hitz Committee Entertainment, J Records, Jive Records, LaFace Records, Legacy Recordings, Masterworks, Polo Grounds, RCA Records, RCA Nashville, RCA Red Seal, RCA Victor, Reunion Records, Slightly Dangerous, Sony Classical, Sony Music Latin, Star Time International, Verity Records, and Volcano Entertainment. Sony Music Entertainment is a wholly owned subsidiary of Sony Corporation of America. For more information, visit www.sonymusic.com.



# # #

Mobile Web Presence Based Revenues to generate $6bn by 2012 driven by Mobile VoIP and Instant Messaging, according to Juniper Research

HAMPSHIRE, UK:  29th March 2010 - The value of presence based Mobile Web 2.0 services will increase to more than $6 billion by 2012, according to a new report from Juniper Research. Increasing smartphone penetration in developed markets, allied to rising global usage of both on-net and off-net mobile IM (instant messaging) will help to drive this trend.



Defining Mobile Web 2.0


Web 2.0 has been the catalyst for renewed growth in the mobile industry, comprising:

Presence – SMS-based presence (alerts) and server-based presence services Geolocation – services that enable users to share location details with other users, third-parties or applications, collaborate with those nearby, and exploit local knowledge Social Web – including social networking sites, user generated content, and a variety of sub-categories including blogs and dating


The report found that monetising Mobile Web 2.0 services was still posing a challenge across the mobile value chain. Nevertheless, it concluded that opportunities exist for service providers across a range of business models, ranging from subscription-based services to ad-funded solutions.




Presence services on the increase


The Mobile Web 2.0 report found that revenues from presence-based services were currently almost exclusively derived from operator-billed mobile IM accounts.



Mobile VoIP traffic on the other hand has been severely constrained by the need for higher speed networks such as 3G or HSPA in order to provide the QoS (quality of service) required. In addition many operators have historically sought to block VoIP services in order to protect their voice revenues. Juniper believes that both these issues will begin to ease as mobile broadband becomes more prevalent and new operator business models facilitate the inclusion of VoIP services.




Report author Ian Chard observed “Since the use of IP delivers lower-cost calling rates, for international calls in particular, then as 3G service adoption gradually becomes more prevalent there is likely to be a marked migration of voice traffic across to mobile VoIP.”


This study published today is the second of two reports focusing on mobile web 2.0:

1.       Mobile Social Web 2.0: Forecasts, Challenges & Regulations 2010-2014

2.       Mobile Web 2.0: Business Models, Geolocation & Presence 2010-2014



The
Mobile web whitepaper and further details of the two studies can be freely downloaded from www.juniperresearch.com.  Alternatively, please contact John Levett at john.levett@juniperresearch.com, telephone +44(0)1256 830002.

Mobile Web Presence Based Revenues to generate $6bn by 2012 driven by Mobile VoIP and Instant Messaging, according to Juniper Research

HAMPSHIRE, UK:  29th March 2010 - The value of presence based Mobile Web 2.0 services will increase to more than $6 billion by 2012, according to a new report from Juniper Research. Increasing smartphone penetration in developed markets, allied to rising global usage of both on-net and off-net mobile IM (instant messaging) will help to drive this trend.



Defining Mobile Web 2.0


Web 2.0 has been the catalyst for renewed growth in the mobile industry, comprising:

Presence – SMS-based presence (alerts) and server-based presence services Geolocation – services that enable users to share location details with other users, third-parties or applications, collaborate with those nearby, and exploit local knowledge Social Web – including social networking sites, user generated content, and a variety of sub-categories including blogs and dating


The report found that monetising Mobile Web 2.0 services was still posing a challenge across the mobile value chain. Nevertheless, it concluded that opportunities exist for service providers across a range of business models, ranging from subscription-based services to ad-funded solutions.




Presence services on the increase


The Mobile Web 2.0 report found that revenues from presence-based services were currently almost exclusively derived from operator-billed mobile IM accounts.



Mobile VoIP traffic on the other hand has been severely constrained by the need for higher speed networks such as 3G or HSPA in order to provide the QoS (quality of service) required. In addition many operators have historically sought to block VoIP services in order to protect their voice revenues. Juniper believes that both these issues will begin to ease as mobile broadband becomes more prevalent and new operator business models facilitate the inclusion of VoIP services.




Report author Ian Chard observed “Since the use of IP delivers lower-cost calling rates, for international calls in particular, then as 3G service adoption gradually becomes more prevalent there is likely to be a marked migration of voice traffic across to mobile VoIP.”


This study published today is the second of two reports focusing on mobile web 2.0:

1.       Mobile Social Web 2.0: Forecasts, Challenges & Regulations 2010-2014

2.       Mobile Web 2.0: Business Models, Geolocation & Presence 2010-2014



The
Mobile web whitepaper and further details of the two studies can be freely downloaded from www.juniperresearch.com.  Alternatively, please contact John Levett at john.levett@juniperresearch.com, telephone +44(0)1256 830002.

Comdata Corporation Supports PCI Security Standards Council as Participating Organization



http://www.comdata.com

Comdata Corporation Supports PCI Security Standards Council as Participating Organization

Comdata works with key standards setting body to protect payment cardholder data
BRENTWOOD, Tenn.--(BUSINESS WIRE)--Comdata Corporation, provider of the new Smart Solutions suite of point-of-sale systems for travel plazas and convenience stores, announced today its support of the PCI Security Standards Council. As a participating organization, Comdata works with the Council to evolve the PCI Data Security Standard (DSS) and other payment card data protection standards.
“Data protection is critical to Comdata, and we are honored to be an active participant in shaping the standards that will ensure safe business practices”
The PCI DSS, endorsed by American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc., requires merchants and service providers that store, process or transmit customer payment card data to adhere to information security controls and processes that ensure data integrity. More information on the council and the standard can be found atwww.pcisecuritystandards.org.
As a participating organization, Comdata has access to the latest payment card security standards from the Council, is able to provide feedback on the standards and is part of a growing community that includes more than 500 organizations. In an era of increasingly sophisticated attacks on systems, adhering to the PCI DSS represents an entity’s best protection against data criminals. By serving as a participating organization, Comdata is adding its voice to the process.
“The PCI Security Standards Council is committed to helping everyone involved in the payment chain protect consumer payment data,” said Bob Russo, general manager of the PCI Security Standards Council. “By participating in the standards setting process, Comdata demonstrates they are playing an active part in this important end goal.”
“Data protection is critical to Comdata, and we are honored to be an active participant in shaping the standards that will ensure safe business practices,” said Joseph Daly, executive vice president of operations for Comdata. “The PCI Security Standards Council is a driving force for payment policy, and they share our commitment to providing the highest standards of data security for our customers.”
About PCI Security Standards Council
The mission of the PCI Security Standards Council is to enhance payment account security by driving education and awareness of PCI security standards. For more information, please visit www.pcisecuritystandards.org.
About Comdata Corporation
Comdata Corporation is a leading provider of truck stop and convenience store point-of-sale (POS) systems and a business-to-business provider of innovative electronic payment solutions. As an issuer and a processor, the company enables more than $23 billion in fleet cardcredit cardpaycard and virtual card transactions annually. Over 1.8 million Comdata cards are issued annually, and active cards at any given time total approximately 1.5 million. With state-of-the-art technology and redundancy, Comdata captures and reports detailed transaction data, empowering its customers to analyze their spending patterns in order to gain unprecedented control of their expenses. Other Comdata solutions include regulatory compliance programs and receivables financing options. Comdata provides solutions to over 25,000 customers in four primary industries: fleet, aviation, construction and retail/hospitality. Founded in 1969 and headquartered in Brentwood, Tennessee with more than 1,000 employees in the United States and Canada, Comdata is a wholly-owned subsidiary of Ceridian Corporation.
About Ceridian
Ceridian is a leading global business services company that provides reality-based KnowHow to take the guesswork out of impacting your organization’s bottom line. From human resources and benefits to productivity and payroll services, we help organizations maximize their human, financial and technology resources. As a leader in payroll outsourcing, gift cards and corporate expense management, we're the driving force in payment innovation. Whether we're partnering with you to save money, grow your business, enhance operations or minimize financial risks we provide the insights and solutions that ensure your success.

Contacts

Comdata Corporation

Trisha Torrado, 615-376-8601

ttorrado@comdata.com

or

PCI Security Standards Council

Ella Nevill, 781-876-6248

enevill@pcisecuritystandards.org
Permalink: http://www.businesswire.com/news/home/20100329005091/en/Comdata-Corporation-Supports-PCI-Security-Standards-Council


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Comdata Corporation Supports PCI Security Standards Council as Participating Organization



http://www.comdata.com

Comdata Corporation Supports PCI Security Standards Council as Participating Organization

Comdata works with key standards setting body to protect payment cardholder data
BRENTWOOD, Tenn.--(BUSINESS WIRE)--Comdata Corporation, provider of the new Smart Solutions suite of point-of-sale systems for travel plazas and convenience stores, announced today its support of the PCI Security Standards Council. As a participating organization, Comdata works with the Council to evolve the PCI Data Security Standard (DSS) and other payment card data protection standards.
“Data protection is critical to Comdata, and we are honored to be an active participant in shaping the standards that will ensure safe business practices”
The PCI DSS, endorsed by American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc., requires merchants and service providers that store, process or transmit customer payment card data to adhere to information security controls and processes that ensure data integrity. More information on the council and the standard can be found atwww.pcisecuritystandards.org.
As a participating organization, Comdata has access to the latest payment card security standards from the Council, is able to provide feedback on the standards and is part of a growing community that includes more than 500 organizations. In an era of increasingly sophisticated attacks on systems, adhering to the PCI DSS represents an entity’s best protection against data criminals. By serving as a participating organization, Comdata is adding its voice to the process.
“The PCI Security Standards Council is committed to helping everyone involved in the payment chain protect consumer payment data,” said Bob Russo, general manager of the PCI Security Standards Council. “By participating in the standards setting process, Comdata demonstrates they are playing an active part in this important end goal.”
“Data protection is critical to Comdata, and we are honored to be an active participant in shaping the standards that will ensure safe business practices,” said Joseph Daly, executive vice president of operations for Comdata. “The PCI Security Standards Council is a driving force for payment policy, and they share our commitment to providing the highest standards of data security for our customers.”
About PCI Security Standards Council
The mission of the PCI Security Standards Council is to enhance payment account security by driving education and awareness of PCI security standards. For more information, please visit www.pcisecuritystandards.org.
About Comdata Corporation
Comdata Corporation is a leading provider of truck stop and convenience store point-of-sale (POS) systems and a business-to-business provider of innovative electronic payment solutions. As an issuer and a processor, the company enables more than $23 billion in fleet cardcredit cardpaycard and virtual card transactions annually. Over 1.8 million Comdata cards are issued annually, and active cards at any given time total approximately 1.5 million. With state-of-the-art technology and redundancy, Comdata captures and reports detailed transaction data, empowering its customers to analyze their spending patterns in order to gain unprecedented control of their expenses. Other Comdata solutions include regulatory compliance programs and receivables financing options. Comdata provides solutions to over 25,000 customers in four primary industries: fleet, aviation, construction and retail/hospitality. Founded in 1969 and headquartered in Brentwood, Tennessee with more than 1,000 employees in the United States and Canada, Comdata is a wholly-owned subsidiary of Ceridian Corporation.
About Ceridian
Ceridian is a leading global business services company that provides reality-based KnowHow to take the guesswork out of impacting your organization’s bottom line. From human resources and benefits to productivity and payroll services, we help organizations maximize their human, financial and technology resources. As a leader in payroll outsourcing, gift cards and corporate expense management, we're the driving force in payment innovation. Whether we're partnering with you to save money, grow your business, enhance operations or minimize financial risks we provide the insights and solutions that ensure your success.

Contacts

Comdata Corporation

Trisha Torrado, 615-376-8601

ttorrado@comdata.com

or

PCI Security Standards Council

Ella Nevill, 781-876-6248

enevill@pcisecuritystandards.org
Permalink: http://www.businesswire.com/news/home/20100329005091/en/Comdata-Corporation-Supports-PCI-Security-Standards-Council


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Discover® Small Business Watch: Economic Confidence Tumbles in March





Discover® Small Business WatchSM

Economic Confidence Tumbles in March

Small Business Owners Sour on Current Conditions for Their Businesses, See Economy Getting Worse
TAX TIME: No Relief from the Government: 72% of Small Business Owners Did Not Find Tax Breaks; 

54% Frustrated by Income and Self-Employment Taxes
RIVERWOODS, Ill.--(BUSINESS WIRE)--There is little spring optimism in the hearts of more than half of America’s small business owners, who see conditions for their businesses getting worse in the next six months, according to the Discover® Small Business WatchSM. After some upward trends for most of last summer and into the fall, Discover’s monthly check on the pulse of small business owners measured 75.7 in March, down 9.2 points from February and back to the levels of a year ago.
“We’ve seen bigger month-to-month drops, but there is clearly a pattern here: Small business owners don’t like what they’re seeing – both at home and in the larger economy – and they’re responding by pulling back, rather than just holding the line”
“We’ve seen bigger month-to-month drops, but there is clearly a pattern here: Small business owners don’t like what they’re seeing – both at home and in the larger economy – and they’re responding by pulling back, rather than just holding the line,” said Ryan Scully, director of Discover's business credit card, who commissions the monthly survey. “Tax season could be having an effect on the overall mood, especially because they’re still not seeing any relief from the government.”
The March results were marked by a surge in the number of small business owners who say economic conditions for their own businesses are deteriorating: 53 percent of them say the climate will get worse in the next six months, compared to only 37 percent who answered that way in February. Of the remaining respondents, 20 percent said things are getting better, 20 percent said things are the same, and 6 percent are unsure.
When asked about their intentions to invest in their businesses, 52 percent said they would decrease spending, up from 43 percent in February, while 27 percent said they would make no changes, and 18 percent said they plan to increase spending.
Other March Confidence Indicators:
  • Little faith was expressed for the direction of the larger economy, as 58 percent said it is getting worse, up from 44 percent in February; while 22 percent think it is getting better, down from 31 percent the prior month; and 16 percent said it’s staying the same, versus 24 percent last month.

  • Views on the current economy were relatively unchanged over February: 59 percent rated the economy poor, 31 percent called it fair, 6 percent said good, and 1 percent chose excellent.

  • Cash flow issues remained largely unchanged: 46 percent said their businesses encountered temporary cash flow issues in the past 90 days that caused them to hold off on paying some bills, 47 percent did not have issues, and 7 percent weren’t sure.

TAX TIME: Small Business Owners Can’t Get a Break
In February, 70 percent of owners told Discover that federal stimulus efforts have had no impact on their businesses, while 17 percent said it hurt their businesses. Only 10 percent reported being helped by federal efforts.
So it was no surprise in March when 72 percent of small business owners said they were not able to take advantage of tax breaks for their businesses or themselves for 2009, while 19 percent said they had, and 9 percent weren’t sure.
When asked which of the following taxes caused the most frustration, owners said:
  • Federal income taxes, 29 percent

  • Self-employment taxes, 25 percent

  • Real and personal property taxes, 7 percent

  • Employer portion of Social Security taxes, 5 percent

  • Sales taxes, 4 percent

  • Unemployment taxes, 3 percent

  • State income taxes, 2 percent

  • Excise taxes, 1 percent

  • Not sure, 24 percent

Tax Preparation
Finding and organizing tax preparation documents was very to somewhat difficult for 42 percent of small business owners, and not very or not at all difficult for 54 percent of them.
Even though 70 percent of small business owners use a professional to do their taxes, 73 percent of them say the preparation and documentation process is somewhat to very time-consuming. Among the general population surveyed this month, 51 percent of people say they use a professional to do their taxes.
Of those small business owners who said they were not hiring a professional, 62 percent said they were using computer software, down from 71 percent last year.
Tax Returns and Extensions
Twenty-four percent of small business owners are expecting a refund this year, 28 percent will break even and 39 percent will owe taxes. Nine percent were not sure. Among non-business owners, 50 percent expect a refund, 18 percent will break even and 21 percent say they owe taxes. Ten percent weren’t sure.
For those who expect to owe taxes, 43 percent of small business owners said they would likely file for a tax extension, compared to 30 percent of people in the broader population who will likely seek more time. About half of those filing for extensions in both segments said they were doing so because of the economy.
The views and opinions expressed by small business owners and consumers who participate in the Small Business Watch survey are their own and do not necessarily reflect those ofDiscover Financial Services or its affiliates.
About the Small Business Watch
The Discover Small Business Watch is a monthly index measuring the relative economic confidence of U.S. small business owners who have less than five employees, a segment that consists of 22 million businesses producing more than a trillion dollars in annual receipts. The Watch is based on a national random survey of 750 small business owners. It is commissioned by Discover Business card, which strives to offer the best business credit card for American small businesses, and is conducted by Rasmussen Reports, LLC (www.rasmussenreports.com), an independent survey research firm. The numeric index is calculated by assigning values to responses to a set of six consistent questions. The base value of the Watch was established at 100.0 based on surveys conducted in August 2006. In addition to generating the index, the Small Business Watch surveys small business owners every month on key issues, and polls 3,000 consumers four times per year to gauge purchasing behavior and attitudes towards small businesses. For past results and survey data, visitwww.discovercard.com/business/watch. For information on Discover Business card, visit www.discovercard.com/business.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discoverfinancial.com.

Contacts

Jon Drummond

Discover Financial Services

224-405-1888

jondrummond@discover.com

or

Lauren M. Onis

Burson-Marsteller

212-614-4069

lauren.onis@bm.com
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