Latest news (24,740 items)

Intellect looks to shareholders for support

Payment terminals supplier and smart card systems provider Intellect Holdings will call on its shareholders for extra funding this year, as the group strains to secure sales in a climate in which clients worldwide are deferring investment in upgraded payments systems. read more

Global Technology in the red, and short on cash

Global Technology Australasia, one of the key technology partners of many of Australia's smaller banks, building societies and credit unions made heavy weather over the last half year, incurring an operating loss of $3.5 million and taking another $3.8 million in write-downs. read more

Catuity turns cash positive

Catuity, a developer of loyalty systems for smart cards, remains in the red and reported a wider operating loss in the latest half. But the company may be turning the corner, building cash reserves by about US$1 million during the December quarter. read more

VFJ delays hurt Omnitech

Losses are accelerating at another smart card play, Omnitech, with key customers in China and Italy deferring payment on budgeted revenues until this year. read more

Kiwibank loss larger than planned

Kiwibank, the government owned entrant to New Zealand's concentrated banking market, has burned off a quarter of its start up capital less than 18 months after securing a banking licence, and after about eight months of trading. read more

Farmers cards loses market share

The Farmers' retail financial services business in New Zealand increased receivables by nine per cent in the second half of 2002, with receivables up to NZ$320 million at December from NZ$294 million at June. read more

CommSecure loss widens

The loss incurred by payments gateway and solutions provider CommSecure widened in the December half year, as revenues weakened: read more

Loyzaga looks to acquisitions

Ray Loyzaga, managing director of CommSecure, said that in spite of the losses, "its clear that the strategy we are pursuing is starting to show steady results. In terms of annuity revenue, we've seen good growth of 20 odd per cent. And it would have been a lot stronger had the markets not turned down last year." read more

ERG loses CFO

ERG has lost its chief financial officer, with the departure of Richard Howson two weeks ago. Yew Seng Kwa replaced Howson. read more

NAB simplifies business fees

National Australia Bank acknowledges that it will collect more fee revenue from small business and middle market customers from the simplification of fees on business accounts. read more

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