GLG News by Money Transfer Provider Experts

Ronald IngramDirector of Product ManagementADVANCE AMERICA, CASH ADVANCE CENTERS, INC.

World's Largest Payment Processor First Data Acquires InComm - Valuation Trend Implications for Global Payment Systems GPN, MV, V, MA and TSS and hundreds of smaller payment technology players

May 2, 2008

Analysis of:First Data Gets Major Retail Prepaid Distribution with InComm Deal | www.digitaltransactions.net

Visa's IPO was the largest in history and payment companies like Global Payment Sytems (GPN) and First Data are rising along with the tide. FDC’s choice of Incomm is likely a positive indicator of things to come. Who is the next Incomm? How will the Incomm acquisition affect the valuation of payment card processors, card acquirers, issuers, closed loop and open loop gift, debit, credit and General Purpose Reloadable (GPR) prepaid card plays? undefined undefined

Richard BialekChief Executive Officer Bialek Group

Discover Goes Global With Diners Club Acquisition – A Positive Step

April 14, 2008

Analysis of:Diners Club assets sold to US card issuer | www.businesstravelworld.com

The Discover Card acquisition of Diners Club International is a positive step, addressing one of Discover's competitive weaknesses, the lack of a strong global merchant acceptance network. But it is only one component of the comprehensive solution needed to address Discover’s competitive weakness versus Visa, MasterCard and American Express.

Howard JacksonPresidentHSA Consulting, Inc

WSJ quotes HSA Consulting Principal Re: Wal-Mart's Competitive Position in a Changing World

October 7, 2007

Analysis of:Wal-Mart Era Wanes Amid Big Shifts in Retail | online.wsj.com

Lead Wall Street Journal article published October 3, 2007 reviewing the changing retail competitive landscape. HSA Consulting Competing retailers have identified strategies to defeat low prices: - marketing non competing services such as PetSmart (on site Pet hotels, grooming, and vet services) - marketing non competing skus (Best Buy Magnolia brand, range extensions) - private label and licensing programs

Richard BialekChief Executive Officer Bialek Group

Litigation Issues Cloud Visa IPO

September 17, 2007

Analysis of:Visa, preparing for IPO, wins OK from SEC | www.reuters.com

The Visa IPO is a noteworthy transaction that has the potential to reshape the payments industry. It offers Visa and its members the opportunity to unlock billions of dollars in value from the business they have built.  But, the potential return could be materially reduced by pending litigation.

Ronald IngramDirector of Product ManagementADVANCE AMERICA, CASH ADVANCE CENTERS, INC.

Depositor Panic Triggers Run on UK Bank, Over Leveraged Banks at Risk

September 17, 2007

Analysis of:Police called to break-up Northern Rock panic queues as customers withdraw millions | www.thisislondon.co.uk

Police were called to manage crowds in the UK this morning as depositors lost confidence in Northern Rock and attempted to withdaw funds en masse. Depositor concerns are believed to relate to weak loan to deposit ratios and fears about exposure to subprime mortgages. Banks mentioned among the most highly levered include Northern Rock, Alliance and Leicester, HBoS and Bradford and Bingley. Lloyds TSB, Royal Bank of Scotlad, Barclays and HSBC are shown to be in a much better position. If concerns escalate to panic this will seriously impair money supply and weaken the economy of the UK with potential spill over into other markets if the panic spreads.

Richard BialekChief Executive Officer Bialek Group

Western Union - Behind and Beyond the Boycott.

September 17, 2007

Analysis of:Immigrant groups launch Western Union boycott | www.latimes.com

Immigrant advocacy groups raise valid issues regarding Western Union. Significantly higher remittance fees  and an underinvestment in the immigrant community are the reasons for the boycott. Beyond the boycott advocacy groups should identify and promote remittance alternatives to Western Union, thereby adding a competitive market force to their efforts.

Richard BialekChief Executive Officer Bialek Group

Not a Prime Time to Tap the Sub-Prime Market

September 10, 2007

Analysis of:Credit card companies woo struggling mortgage-holders | www.boston.com

The sub-prime segment has been a profitable market for some credit card companies. Success depends on an issuer's ability to accurately assess credit risk and price accordingly. At this time mortgage defaults and increased uncertainty in credit markets and the general economy make risk more difficult to assess and the sub-prime market an unattractive target for credit card issuers.

Richard BialekChief Executive Officer Bialek Group

Good Medicine - If the Prescription is Followed

September 6, 2007

Analysis of:Doctors Offering No-Interest Loans to Patients | www.nytimes.com

What was a niche market served by small specialty financial services players is now led by three of the largest financial services companies in the U.S. No-interest medical financing is a growing market and a good option for the informed consumer. It serves a financing need, filling a gap left by higher medical insurance deductibles, increased insurance premiums and  a growing number of cosmetic surgery procedures that are not typically covered by medical insurance plans.

Richard BialekChief Executive Officer Bialek Group

The Rain is Coming - Don't Count on the Credit Storm Bypassing Credit Cards

August 30, 2007

Analysis of:Unexpected: Card Debt Stays Dry in Credit Storm | www.americanbanker.com

The hope that credit card delinquencies and default rates will not be impacted by the subprime mortgage crisis is misplaced.  Although risk indicators may be off all-time highs, they are increasing and merit attention. With decreasing home prices the highly levered U.S, consumer is losing access to home equity and mortgage refinancing products that enabled them to spend beyond their income. The risk is already in the credit card portfolios and will have to work its way out in the form of higher credit losses.

Ronald IngramDirector of Product ManagementADVANCE AMERICA, CASH ADVANCE CENTERS, INC.

Western Union: Threat of New Entrants and Technology Means More Turbulence Ahead

August 1, 2007

Analysis of:Western Union Drops After Verizon Announces Wireless Payments and Transfers | biz.yahoo.com

In this article Obopay is credited for impacting Western Union's share price. Obopay is one of many newer less expensive means of transferring funds domestically or internationally. Other emerging competitors spanning email/computer money transfer, mobile and ACH based services include: Xoom; Ikobo; Coinstar (GroupEx Financial Corp.) and, Paypal. The implication is that Western Union may be in danger of losing its core competitive advantage due to the ubiquity of potentially realtime very inexpensive international electronic network connectivity. Whether this threat is real or perceived it will have an impact on WU's valuation. If the threat is not real the impact will be short term. If it is real current declines may be an early indicator of a longer term trend.

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