DOCSLIB.ORG

Oct. 2Nd, 2015 Edition #474 Categories TSG Resources

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Oct. 2Nd, 2015 Edition #474 Categories TSG Resources Oct. 2nd, 2015 Edition #474 Trending this week... Subscribers: EMV is here! Be sure to check out TSG's wrap-up of resources Please complete this and articles as you prepare for the changes ahead. brief 2 minute survey and help us In addition, TSG has put together commentary on EMV from improve NewsFilter! a merchant's perspective as well as a review of TSG Associate Thank you! experiences at the POS throughout the U.S. Categories In other news, First Data announced this week that it plans to raise up to $3.2B in what could be the biggest IPO in the U.S. Featured so far this year. First Data expects its IPO to price between $18-20 per class A share, valuing the company at approximately Mobile Payments & $17.58B. Bitcoin Regulation & Security The U.S. Merchant Acquiring Transaction Market is Extremely Active Economy TSG is assisting buyers and sellers connect as well as by providing transaction support services Payments Press to assist both buyers and sellers achieve their objectives. In addition, TSG has been engaged to identify ISO and merchant acquiring business Want to Advertise acquisitions and capital partnerships. in NF? Key investment criteria includes: Click here to learn First Data back-end portfolios (with and more. without the sales component) Producing monthly Net Revenue of $20,000 to $35,000 TSG Resources If you are interested in discussing a potential transaction, please provide TheStrawGroup.com high level details of your business and email us. Learn more about TSG's Transaction Advisory services. All responses will be treated confidentially. TSG Resource Center PaymentsPulse.com TSG Overview Transaction Advisory Merchant Aggregation Featured Case Study: Driving TSG Commentary on EMV - Anecdotes from Around the Value Through Country Competitive Bidding The Strawhecker Group What Benefits Me By TSG Associates were trying to use their chip cards around the country Paying a Credit Card over the last week - here are some of their experiences: Swipe Fee? Colorado Use a SmartPhone to "The first dip I had was at a small liquor store in Estes Park over Buy Things! the weekend and then Home Depot today. I wonder if liquor stores are more concerned with fraud?" The Top Ten Ways "My local drycleaner was under the impression that EMV was a Acquirers Can Block the government enforced law." Breach Florida This Day Sign posted at a local vitamin shop: "Until our equipment is able in History: 1985 to take chip cards, all credit card transactions over $25.00, will require a photo ID" "All transactions over $250.00, will require Hollywood Icon address verification" Rock Hudson Dies "Just had my first dip of a chip at Home Depot - they just went live of AIDS and the clerk was very well informed of the process and Oct. 1 date, etc." On this day in 1985, actor Rock Hudson, 59, becomes Click to read more. the first major U.S. celebrity to die of EMV Round-Up complications from AIDS. Hudson's death raised EMV has officially reached the states. Check out TSG's public awareness of the epidemic, which until that round-up of essential resources as you continue to time had been ignored by prepare for the changes ahead. many in the mainstream as a "gay plague." Below you will find an article round-up from several featured Hudson, born Leroy Harold articles: Scherer Jr., on November 17, 1925, in Winnetka, USA Today: Ready or Not, It's Credit Card Chip and Dip Time Illinois, was a Hollywood Digital Transactions: The Big Bang It Ain't heartthrob whose career ABC News: What You Should Know About the New Chip Cards in movies and TV spanned ComputerWorld: Retail Group rips Chip-card Conversion Expense nearly three decades. With Gizmodo: Guide to the New EMV System leading-man good looks, Hudson starred in BankThink: EMV Cards - The Beginning of the End for Hackers numerous dramas and CNBC: Most Americans are Not Ready for Chip Cards romantic comedies in the American Banker: Merchants Must Get on Same Page as Issuers 1950s and 60s, including Forbes: A Race to the Finish - Business Struggle to Meet Deadline Magnificent Obsession, LTP: Six in Ten Americans Have Not Received an EMV Card Giant and Pillow Talk. In ZDNet: EMV Apathy? Why Small Businesses are Avoiding EMV the 1970s, he found Parade: What Shoppers Need to Know About EMV success on the small screen with such series as McMillan and Wife. To ETA Hosts "Chip Card 101" as U.S. Deploys New protect his macho image, Technology to Combat Fraud Hudson's off-screen life as a gay man was kept secret 10/01/15 ETA from the public. In 1984, while working on the TV show Dynasty, Hudson was diagnosed with AIDS. On July 25, 1985, he publicly acknowledged he had the disease at a hospital in Paris, where he had gone to seek treatment. The news that Hudson, an international icon, had AIDS focused worldwide attention on the disease and helped change public perceptions of it. Click here to read more. Click here for the full C-Span Discussion with ETA's Jason Oxman. "Today's start of the EMV chip migration is an important step in protecting U.S. consumers' private data," said Jason Oxman, ETA CEO. "ETA has compiled the best information available on the move to EMV, and will continue to work with our members, their merchant-customers, consumers and the media to ensure a smooth transition for shoppers and swift adoption of this criminal-stopping technology." In conjunction with ETA's Chip Card 101 event, TSG prepared educational infographics to provide merchants and consumers the essential knowledge needed to understand the liability shift. Payment industry players may want to utilize these tools as a merchant talk track. The first infographic reviews chip card basics - what they are, why we need them, and the benefits to merchants and consumers alike. The second illustrates how an individual will pay with a chip card in three easy steps: insert, keep, and remove! Payment Processor First Data to Raise Up to $3.2 Billion in IPO 10/01/15 Reuters Credit card processor First Data Corp said it plans to raise up to $3.2 billion in what could be the biggest initial public offering in the United States so far this year. The company, which was first spun off in an IPO by American Express in the early nineties, was taken private in 2007 by KKR & Co LP for about $29 billion - one of the biggest leveraged buyouts before the financial crisis. Atlanta-based First Data said on Thursday it expects its IPO to price between $18 and $20 per class A share, valuing the company at about $17.58 billion at the upper end of the range. Related: CEO's Stake Could Be About $110M After IPO Is the Fintech Sector Overheating? 9/28/15 BTN Some call it "frothy." Some call it "contagious enthusiasm." Some call it "immature." The funding of fintech companies continues to proliferate. Almost $14 billion has been invested in fintech startups in the past year, a nearly 46% year-over-year growth rate, according to CB Insights. The company's data shows a steady rise in fintech funding since 2010. The top categories include online lending, payments, cryptocurrency and personal financial management. All told, venture capital and private equity firms have invested about $50 billion in fintech companies in the last five or so years, according to the London consulting firm William Garrity Associates. ETA's Jason Oxman: Why Payments is the Most Exciting Tech Industry 9/29/15 Inc. We live in an age of unprecedented technological discovery and change, and the payments industry is fully embracing it. We are paying with our phones, watches, and wearables. Our credit and debit cards have new embedded microchips. And we can now initiate, verify and secure a payment with the swipe of a finger. What is driving innovation in payments? Part of the answer is the payments industry embraces innovation. It's more accepting of new entrants, unlike other incumbent industries. Mobile Payments & Bitcoin Samsung Pay Goes Live in the U.S. 9/28/15 CNET Stateside Samsung phone users can now leave their wallets at home. Samsung Pay, the company's mobile payments service, went live in the US on Monday. The service lets users pay for items using their phones or upcoming Gear S2 smartwatch, and it even works at older retail terminals that don't accept Apple Pay. Samsung Pay works with Galaxy S6, S6 Edge, Note 5 and S6 Edge+ smartphones running on wireless networks from AT&T, T-Mobile, Sprint and US Cellular. Verizon doesn't yet support Samsung Pay, but Samsung said it's still working with the wireless carrier on preloading the service on Verizon phones. Related: Review: Samsung Pays Where Apple Can't Here's Why Samsung Pay is Way Better Than Apple Pay and Android Pay Will Google's and Saumsung's Investments in Mobile Payments Pay Off? Twitter Expands 'Buy' Buttons To Bigcommerce, Demandware, Shopify... And Best Buy 10/01/15 Tech Crunch A year after Twitter launched its first commerce product in the form of "buy now" buttons in tweets, get ready to start seeing a whole lot more of them in your feed. The social media company today is expanding the service in partnership with Bigcommerce, Demandware, and Shopify, three big and well-used commerce platforms, so that merchants using them to run their own online commerce services can now also use their products on Twitter. And it's also signed up some key direct deals with big retail brands.
Load more

Recommended publications
  • Navigating the Emv Implementation Process
    PARTNERING FOR SUCCESS: NAVIGATING THE EMV IMPLEMENTATION PROCESS A Mercator Advisory Group Research Brief Sponsored by Moneris Solutions November 2014 Partnering for Success: Navigating the EMV ImplementationProcess A Mercator Advisory Group Research Brief Sponsored by Moneris Solutions Contents The EMV Standard .............................................................................................................................3 Reducing Counterfeit Card Fraud .......................................................................................................... 3 Reducing Card Theft Fraud .................................................................................................................... 3 Chip and PIN vs. Chip and Signature ...................................................................................................... 3 Card Network EMV Road Maps ............................................................................................................. 4 Outlook: EMV Adoption in the United States ......................................................................................5 Credit Card Issuance .............................................................................................................................. 5 Debit Card Issuance ............................................................................................................................... 6 Acceptance ...........................................................................................................................................
    [Show full text]
  • To Consult DPQ/Moneris Preferred Pricing
    Preferred Rates For Your Business Les Dentistes propriétaires du Québec (DPQ) and Moneris® are pleased to introduce preferred card payment processing rates for your business.† Moneris Transaction 1 Interac Per Transaction Rate Card Type * Assessment Fee Interchange Fee Fee Debit Card $0.040 VISA 0.10% 0.09% Foreign Assessment Fee (VISA) of 0.40% will apply to all gross foreign sales dollar volume processed. Card Brand Fee (Interac) of $0.0085 will apply to each Interac transaction. An Interac fee of $0.035 Mastercard 0.10% 0.08% per transaction will apply to each Interac Flash® (contactless) transaction. Foreign Assessment Fee (Mastercard) of 0.60% will apply to all gross foreign sales dollar volume processed. For more information about the applicable Discover 0.10% 0.063% Interchange rates, Foreign Assessment Fee (Discover) of 0.40% will apply to all gross foreign sales dollar volume processed. please visit moneris.com/interchange POS Solution(s) Rates Union Pay 0.10% 0.1% Standalone $22.00/month Foreign Assessment Fee (UnionPay) of 0.10% will apply to all gross foreign sales dollar volume processed. PIN Pad $16.00/month Visa Debit 0.10% Short Range Wireless $45.00/month Debit MasterCard 0.10% $50.00/month * You agree that you are responsible for the fulfillment of any increase imposed by the Long Range Wireless (plus $75.00 one time activation fee) Card Brand and any fees, fines, penalties, or assessments levied by the Card Brands on us or our parent banks, RBC and BMO, in connection with the processing of your transactions.
    [Show full text]
  • 2008 Annual Report to Shareholders
    191ST ANNUAL REPORT 2008 Defining great customer experience I value a clear plan for the retirement I want. I appreciate a bank that can help my company in good times and bad. Who will explain all my mortgage options so that I actually understand? Thanks for giving me the advice that makes sense for me. Defining great customer experience begins with making sense of it all. BMO’s vision – to be the bank that defines great customer experience – galvanizes our organization and encourages every one of our 37,000 employees to help us succeed. In everything we do, we define great customer experience. We do so by helping our customers make sense of their financial lives, and by bringing clarity to the complexities of money. BMO gratefully acknowledges our customers who so generously gave their time and portraits to this annual report. Adolphe A. Tinling Linda Knight Scott Saxberg Maria Monreal-Cameron President and Principal Designer CEO, President and CEO, President and CEO, Adolphe Anthony T. Design CarePartners Crescent Point Energy Trust Hispanic Chamber of Commerce International and Associates Waterloo, Ontario Calgary, Alberta of Wisconsin Montreal, Quebec Milwaukee, Wisconsin Who We Are A Canadian-based North American bank, established in 1817, BMO® Financial Group is highly diversified. We work with millions of personal, commercial, corporate and institutional customers through our operating groups: Personal and Commercial Banking Canada, Personal and Commercial Banking U.S., Private Client Group and BMO Capital Markets. Our 37,000 employees are dedicated to making BMO the bank that defines great customer experience. Our approach is relationship-driven.
    [Show full text]
  • What Is Simplified Pricing?
    What is Simplified Pricing? Simplified pricing makes it easier to understand the costs associated with processing credit and debit card payments by clearly outlining the components that make up your processing fees. Processing fees on simplified pricing consist of: Interchange/Wholesale Discount, Network Assessment and Moneris® Transaction Fees. What is Interchange? What is a Network Assessment Fee? Interchange is the amount that card processors, like Moneris, are A Network Assessment Fee is the amount that card processors, like required to pay credit card issuers and/or financial institutions for Moneris, are required to pay the card brands for each credit or debit each credit or debit card transaction processed by its merchants. card transaction processed by its merchants. Network Assessment Interchange rates are set and regulated by the card brands (i.e. fees are set and regulated by the card brands and can vary by: ® ® ® Visa , Mastercard , Discover , UnionPay, etc.), and can vary by: • Region where card was issued (domestic/foreign) • Card type (basic, premium, corporate, etc.) • Settlement currency (CAD, US) • Transaction type (chip, swipe, ecommerce, etc.) With simplified pricing, the Network Assessment Fee, as set by the • Business type/Merchant Category Code (MCC) card brands, is passed through to the merchant. With simplified pricing, the interchange amount, as set by the card brands, is passed through by Moneris to the merchant. As a result, merchants will benefit from increased visibility and exposure to interchange rate updates periodically announced by the card brands, including reductions or special programs. What is the Transaction Fee? The Transaction Fee is the fee paid to Moneris for the credit and debit card transaction processing, clearing, settlement, reporting and customer service it provides your business.
    [Show full text]
  • For Apple® Ipad®, Iphone® and Ipod Touch®
    For Apple® iPad®, iPhone® and iPod touch® (11/17) For more information and assistance: Web: getpayd.com/paydpro/support Email: [email protected] Toll-free: 1-855-423-PAYD (7293) Record your Moneris® merchant ID here: __________________________________________ Contents Introduction ................................................................................................ 6 Before you get started .............................................................................. 7 Activating your PAYD Pro store .............................................................. 8 Setting up the PAYD App on your mobile device .............................. 9 Downloading and installing the PAYD App from the App Store SM 10 Setting up the PAYD PIN Pad ................................................................. 11 Pairing a new PAYD PIN Pad with your mobile device 12 Pairing an initialized PAYD PIN Pad with a different mobile device 19 Pairing a replacement PAYD PIN Pad with your mobile device 22 Other PAYD PIN Pad settings 24 Changing an initialized PAYD PIN Pad's default language 24 Bluetooth pairing in Legacy mode 26 Ready to use the PAYD App? 30 Optional features ..................................................................................... 31 Setting the transaction details level 31 Setting a default payment device 32 1 Enabling Pre-Authorizations 32 Enabling tip prompting 33 Setting a tax rate 34 Location-mapping transactions 35 Viewing a location map 35 Setting a quick PIN for sign-in 36 Pre-filling the employee ID/store ID at
    [Show full text]
  • BMO Financial Group Reports Third Quarter 2018 Results
    BMO Financial Group Reports Third Quarter 2018 Results REPORT TO SHAREHOLDERS Financial Results Highlights Third Quarter 2018 Compared With Third Quarter 2017: • Net income of $1,536 million, up 11%; adjusted net income1 of $1,565 million, up 14% • EPS2 of $2.31, up 13%; adjusted EPS1,2 of $2.36, up 16% • ROE of 14.7%, up from 13.4%; adjusted ROE1 of 15.0%, up from 13.3% • Provision for credit losses3 (PCL) of $186 million compared with $202 million on an adjusted basis in the prior year and $126 million on a reported basis; prior year reported provision for credit losses includes a decrease in the collective allowance of $76 million pre-tax • Common Equity Tier 1 Ratio of 11.4% Year-to-Date 2018 Compared With Year-to-Date 2017: • Net income of $3,755 million, down 9%, reflecting the revaluation of our U.S. net deferred tax asset4 and a restructuring charge in the current year5 and a net gain6 in the prior year; adjusted net income1 of $4,450 million, up 6% • EPS2,4,5 of $5.59, down 8%; adjusted EPS1,2 of $6.67, up 7% • ROE of 12.3%, compared with 13.7%; adjusted ROE1 of 14.6%, up from 13.9% • Provision for credit losses of $487 million3 compared with $620 million on an adjusted basis and $544 million on a reported basis Toronto, August 28, 2018 – For the third quarter ended July 31, 2018, BMO Financial Group recorded net income of $1,536 million or $2.31 per share on a reported basis, and net income of $1,565 million or $2.36 per share on an adjusted basis.
    [Show full text]
  • Quick Reference Booklet 11 August 2020
    Quick Reference Booklet 11 August 2020 QR Summary of Changes, 11 August 2020 Summary of Changes, 11 August 2020 This document reflects updates effective since the 15 October 2019 version. Table 1: Descriptions of Changes Description of Change Where to Look Chapter 3—Card Acceptor Business Codes Card Acceptor Business (CAB) Programs and (MCCs) Descriptions Updated country-specific CAB program to include Throughout AUS4, Australia transit 4. Added Macedonia to MCC 9406. MCC 9406—Government-owned Lottery (Specific Countries) Added MCC 9406 Government-owned Lottery Card Acceptor Business Codes (MCCs)— (Specific Countries) to All Transaction Category Transaction Category Codes Codes. Removed vending machines from MCC 5499. MCC 5499—Miscellaneous Food Stores— Convenience Stores, Markets, Specialty Stores Added P for MCC 9399 and MCC 7800. Removed Card Acceptor Business Codes (MCCs)— note in MCC Description. Abbreviated Removed sentence: “This MCC may also be used MCC 9399—Government Services—not to identify U.S. state lottery ticket sales by elsewhere classified merchants properly registered with Mastercard as set forth in section 9.4.5 of the Security Rules and Proceduresmanual.” Added MCC—Electric Vehicle Charging. MCC 5552—Electric Vehicle Charging Added Card Acceptor Business Segment codes for Card Acceptor Business (CAB) Programs and Uruguay. Descriptions Added Card Acceptor Business program, MON2, Throughout to MCC 4829 and MCC 6540. Added 2021 holiday schedule Holiday Processing Schedule ©1990–©2020 Mastercard. Proprietary. All rights reserved. Quick Reference Booklet • 11 August 2020 2 Contents Contents Summary of Changes, 11 August 2020.............................................................2 Chapter 1: Holiday Processing Schedule........................................................ 12 Overview Settlement U.S. Dollar Holiday Schedule............................................................13 Settlement Holidays........................................................................................................
    [Show full text]
  • What Is Simplified Pricing?
    What is Simplified Pricing? Simplified pricing makes it easier to understand the costs associated with processing credit and debit card payments by clearly outlining the components that make up your processing fees. Processing fees on simplified pricing consist of: Interchange/Wholesale Discount, Network Assessment and Moneris® Transaction Fees. What is Interchange? What is a Network Assessment Fee? Interchange is the amount that card processors, like Moneris, are A Network Assessment Fee is the amount that card processors, required to pay credit card issuers and/or financial institutions for like Moneris, are required to pay the card brands for each credit or each credit or debit card transaction processed by its merchants. debit card transaction processed by its merchants. Network Interchange rates are set and regulated by the card brands (i.e. Assessment fees are set and regulated by the card brands and can Visa®, Mastercard®, Discover®, UnionPay, etc.), and can vary by: vary by: • Card type (basic, premium, corporate, etc.) • Region where card was issued (domestic/foreign) • Transaction type (chip, swipe, ecommerce, etc.) • Settlement currency (CAD, US) • Business type/Merchant Category Code (MCC) With simplified pricing, the Network Assessment Fee, as set by With simplified pricing, the interchange amount, as set by the the card brands, is passed through to the merchant. card brands, is passed through by Moneris to the merchant. As a result, merchants will benefit from increased visibility and exposure to interchange rate updates periodically announced by the card brands, including reductions or special programs. What is the Transaction Fee? The Transaction Fee is the fee paid to Moneris for the credit and debit card transaction processing, clearing, settlement, reporting and customer service it provides your business.
    [Show full text]
  • 200Th Annual Report 2017 TOMORROW TODAY STARTS We Aren’T Waiting Marla Philpot Associate Project Manager Chicago, IL for the Future to Arrive
    BMO Financial Group 200th Annual Report 2017 TOMORROW TODAY STARTS We aren’t waiting Marla Philpot Associate Project Manager Chicago, IL for the future to arrive. We’re creating it. Connecting. Learning. Ervey Ayvar Coordinator, Administrative Services, U.S. Finance Adapting. Innovating. Chicago, IL Business Review 2 Who We Are / Finding new ways Financial Snapshot 3 Reasons to Invest in BMO 4 Chairman’s Message to be relevant. 5 Chief Executive Officer’s Message 9 Priorities and Principles 10 Tomorrow Starts Today 16 Performance Highlights Ready for what Gerrick Ratliff 18 Our Strategic Footprint Human Resources 20 Executive Committee Consultant Chicago, IL 21 Board of Directors comes next. Financial Review 24 Financial Performance and Condition at a Glance 26 Management’s Discussion and Analysis 122 Supplemental Information 136 Statement of Management’s Responsibility for Financial Information 137 Independent Auditors’ Report of Registered Public Accounting Firm 138 Report of Independent Registered Public Accounting Firm 139 Consolidated Financial Statements 144 Notes to Consolidated Financial Statements Resources and Directories 202 Glossary of Financial Terms 2 017 204 Where to Find More Information IBC Shareholder Information Financial Snapshot Who We Are Reported Adjusted 1 Established in 1817, BMO Financial Group is As at or for the year ended October 31 a highly diversified financial services provider (Canadian $ in millions, except as noted) 2017 2016 2017 2016 based in North America. We are the eighth- Revenue, net of CCPB2 (p 38) 20,722 19,544 20,722 19,628 largest bank in North America by assets, with Provision for credit losses (p 42) 774 815 850 815 total assets of $710 billion and an engaged Non-interest expense (p 43) 13,302 12,997 13,007 12,544 and diverse base of employees.
    [Show full text]
  • Moneris® / Visa® Differential Rates 1.42% Target Qualification Level
    Moneris® / Visa® Differential Rates 1.42% Target Qualification Level Interchange Interchange Fee Program As Identified on Moneris Statements: Rate Differential CAN-CS01/CAN-CS02/ STANDARD–CONSUMER CARD 1.52% 0.10% CAN-DS01/CAN-DS02 Consumer Card - Domestic CAN-C918/CAN-C919 STANDARD -ECOMMERCE 1.44% 0.02% CAN-XED3/CAN-XED4 B2B - ENHANCED DATA LEVEL 2 1.60% 0.18% CAN-XE03/CAN-XE04/ NON-CHIP ELECTRONIC–BUSINESS CREDIT 1.90% 0.48% CAN-VE03/CAN-WE03 CAN-XB03/CAN-XB04 RECURRING PAYMENT–BUSINESS CREDIT 1.85% 0.43% CAN-XB05/CAN-XB06 RECURRING PAYMENT–CORPORATE CREDIT 1.85% 0.43% CAN-XB07/CAN-XB08 RECURRING PAYMENT–PURCHASING CREDIT 1.85% 0.43% CAN-XE33 BUSINESS CREDIT EMERGING NNSS-CHIP 1.80% 0.38% CAN-XP01/CAN-XP02 BUSINESS CREDIT PERFORMANCE INCENTIVE TIER 1.80% 0.38% CAN-XP03/CAN-XP04/ BUSINESS CREDIT,PERFORMANC EINCENTIVE TIER 1.85% 0.43% Corporate Card - CAN-VP04 Domestic CAN-XS03/CAN-XS04/ STANDARD–BUSINESS CARD 2.00% 0.58% CAN-WS03 CAN-XS05/CAN-XS06/ STANDARD–CORPORATE CARD 2.00% 0.58% CAN-WS05/CAN-WS06 CAN-XS07/CAN-XS08/ STANDARD–PURCHASING CARD 2.00% 0.58% CAN-WS07 CAN-XI05/CAN-XI06/ BUSINESS CREDIT,INDUSTRY 1 1.80% 0.38% CAN-VI05/CAN-WI05 CAN-XI07/CAN-XI08 BUSINESS CREDIT,INDUSTRY 2 1.85% 0.43% CAN-CF01/CAN-CF02/ STANDARD–INFINITE CREDIT 1.71% 0.29% CAN-DF01 CAN-CF07/CAN-CF08/ NON-CHIP ELECTRONIC–INFINITE CREDIT 1.61% 0.19% CAN-EF07/CAN-DF07 CAN-CF11/CAN-CF12 RECURRING PAYMENT–INFINITE CREDIT 1.56% 0.14% Infinite Card - Domestic CAN-CF21/CAN-CF22 INFINITE CREDIT PERFORMANCE INCENTIVE TIER 1 1.56% 0.14% CAN-CF23/CAN-CF24 INFINITE CREDIT
    [Show full text]
  • First Quarter 2017 Report to Shareholders
    First Quarter 2017 Report to Shareholders BMO Financial Group Reports Net Income of $1.5 Billion for First Quarter of 2017 Financial Results Highlights: First Quarter 2017 Compared with First Quarter 2016: 1 • Net income of $1,488 million, up 39%; adjusted net income of $1,530 million, up 30% • EPS2 of $2.22, up 40%; adjusted EPS1,2 of $2.28, up 30% 1 • ROE of 14.9%, compared with 10.9%; adjusted ROE of 15.3%, compared with 12.1% • Provisions for credit losses of $173 million, compared with $183 million • Common Equity Tier 1 Ratio of 11.1% Toronto, February 28, 2017 – For the first quarter ended January 31, 2017, BMO Financial Group reported net income of $1,488 million or $2.22 per share on a reported basis, and net income of $1,530 million or $2.28 per share on an adjusted basis. “BMO’s performance this quarter is strong and broad-based, we delivered adjusted earnings of $1.5 billion and adjusted earnings per share of $2.28,” said Bill Downe, Chief Executive Officer, BMO Financial Group. “The good momentum in the business is the consequence of a clear strategy and consistent execution, doing what we said we would do. Our roadmap is focused on providing customers with intuitive products and services that meet their evolving preferences, while improving efficiency in all of our channels. “Our commitment to the success of our customers and employees, and contributing to their communities, is also unwavering. It is the cornerstone of what we have built over 200 years since our founding; it is a commitment that continues to grow,” concluded Mr.
    [Show full text]
  • Vantiv Announces Agreement to Acquire Moneris Solutions USA
    Vantiv Announces Agreement to Acquire Moneris Solutions USA November 10, 2016 Acquisition further accelerates Vantiv's growth in the high-growth integrated payments and merchant bank channels CINCINNATI and TORONTO, Nov. 10, 2016 /PRNewswire/ -- Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions, announced today its agreement to acquire Moneris Solutions, Inc. (Moneris USA) from Moneris Solutions Corporation (Moneris) for $425 million USD, subject to certain adjustments. Schaumburg, IL-based Moneris USA is the U.S. subsidiary of Moneris, which is a joint investment between BMO Financial Group and Royal Bank of Canada (RBC). Upon closing of the transaction, Vantiv will begin servicing Moneris USA's merchants and other business relationships, including its relationship with BMO Harris Bank, which operates approximately 600 branches in the United States. Moneris USA processed approximately $12 billion in U.S. transaction volume in 2015. "Acquiring Moneris USA will further accelerate Vantiv's growth in key high-growth channels," said Charles Drucker, president and chief executive officer of Vantiv. "We look forward to serving their technology and bank partners with our deep payments expertise and strong customer service." Vantiv, the nation's second largest payment processor, serves more than 800,000 merchant locations and 1,400 financial institutions. "The acquisition will enable Moneris USA to continue its successful path and provide merchants the high-level of service they've come to expect while leveraging Vantiv's scale and omni-channel payments capabilities," said Angela Brown, president and chief executive officer of Moneris. "Working together with Vantiv, Moneris will continue to support our mutual cross-border customers with a focus on innovation and service." The transaction is expected to close in the fourth quarter of 2016, subject to required U.S.
    [Show full text]