Topic “Financial reports”

UPDATED: Losses Continue in Second Quarter for OTI as New CEO Takes Reins

Aug 11 2015

NFC Times Exclusive Insight – The new CEO of Israel-based On Track Innovations, Shlomi Cohen, is starting his tenure with the announcement by the company of declining revenue and continuing losses for the second quarter of 2015.

NXP Reports Sequential Drop in NFC Business; Delay in Apple Pay Launch in China Blamed

NFC Times Exclusive Insight – NXP Semiconductors reported its NFC-based mobile transactions business fell in the second quarter compared with the first quarter, with CEO Rick Clemmer apparently blaming the delayed launch of Apple Pay in China, which he indicated is hurting its sales of NFC chips to Android handset makers in the country. 

Oberthur Sales Expected to Grow This Year Following Flat 2014; Vendor Seeks Higher Profits to Reduce Debt

NFC Times Exclusive – Oberthur Technologies, the No. 2 smart card vendor globally and a major bank card and SIM supplier, had flat sales in 2014, blamed mainly on lower revenue in its telecom business unit from falling prices for lower-end SIM cards, slow sales of NFC SIMs and a hiatus in its contract to supply embedded chips to Samsung.

Identiv Reports Drop in Q1 Sales and Full-Year Guidance; but Says Demand for NFC Tags for IoT Up

NFC Times Exclusive Insight – Identiv reported lower-than-expected revenue for its first quarter and continued losses, though CEO Jason Hart said the company is se

NXP Reports Big Jump in NFC Sales on Shipments to Apple; Looks to China for Added Growth in NFC Business

Sales in NXP Semiconductor’s emerging ID business, which mainly includes its NFC chips, soared in the fourth quarter, growing by more than 200%, compared with the same period a year earlier, thanks mainly to the roll out of Apple Pay.

OTI Reduces Growth Estimate and Pushes Back Positive EBITDA Prediction

Israeli-based NFC and contactless company On Track Innovations pushed back its prediction for positive adjusted EBITDA to the third quarter of 2015 and reduced its estimate for 2014 revenue growth to 10%, down from the 30% it had predicted previously, the company reported in its quarterly earnings call.

Gemalto Reports Lackluster First Half Though Notes Strong TSM Revenue Growth

Gemalto reported flat revenue and a drop in profit for the first half of 2014, though noted that sales for its TSM and NFC SIM business were strong, and its EMV card business in the U.S. was ramping up.

HEADLINE NEWS

Australian Transit Agency to Launch Mobility-as-a-Service Trial as It Pursues Long-Term MaaS Strategy

Plans by Transport for New South Wales, Australia’s largest transit agency, to launch a trial enabling users to plan, book and pay for multimodal rides is the next step toward the agency’s long-ter

Updated: U.S. Transit Agency Seeks to Reduce–Though Not Eliminate–Cash Acceptance with New Fare-Collection System

Updated: The Spokane Transit Authority in Washington state confirmed that its new fare-collection system will include contactless open-loop payments–with a beta test planned for next October, a spokesman told NFC Times' sister publication Mobility Payments.

UK Government Seeks to Bring London-Style Contactless Fare Payments System to Other Regions

The UK government’s plan to equip 700 rail stations over the next three years to accept contactless open-loop payments is a major initiative, as it seeks to replicate the success of London’s contactless pay-as-you go fare payments system elsewhere in the country–a goal that has proved elusive in the past.

More Cities in Finland Expected to Move to Open-Loop Fare Payments

A fourth city in Finland is beginning to roll out contactless open-loop payments, with “more in the pipeline,” according to one supplier on the project, making the Nordic country one of the latest hotspots for the technology.

Moscow Metro Expands Test of ‘Virtual Troika’ in Pays Wallets, as It Continues to Develop Digital-Payments Services

Moscow Metro is recruiting more users to test its “Virtual Troika” card in two NFC wallets, those supporting Google Pay and Samsung Pay, as one of the world’s largest subway operators continues to seek more ways for its customers to pay for rides.

Ohio Transit Agency Expects Significant Revenue Loss as it Builds Equity with Fare Capping

The Central Ohio Transit Authority, or COTA, officially launched its new digital-payments service Monday, including a fare-capping feature that the agency estimates will cost it $1.8 million per year in lost fare revenue, the agency confirmed to Mobility Payments.

Special Report: Interest Grows in ‘White-Label EMV’ for Closed-Loop Transit Cards

As more transit agencies introduce open-loop fare payments, interest is starting to grow in use of white-label EMV cards that agencies can issue in place of proprietary closed-loop cards for riders who don’t have bank cards or don’t want to use them to pay fares.

Swedish Transit Agency Launches Express Mode Feature for Apple Pay, though Most Ticketing Still with Barcode-Based App

Skånetrafiken, the transit agency serving one of Sweden’s largest counties, announced today it has expanded its contactless open-loop payments service to include the Express Mode feature for Apple Pay.

Major Bus Operators in Hong Kong Now Accepting Open-Loop Payments–Adding More Competition for Octopus

Two more bus operators in Hong Kong on Saturday launched acceptance of open-loop contactless fare payments, with both also accepting QR code-based mobile ticketing–as the near ubiquitous closed-loop Octopus card continues to see more competition.

Moscow Metro Launches Full Rollout of ‘Face Pay;’ Largest Biometric Payments Service of Its Kind

Touting it as the largest rollout of biometric payments in the world, Moscow Metro launched its high-profile “Face Pay” service Friday, as expected, and predicted that 10% to 15% would regularly us

Indonesian Capital Seeks to Expand to Multimodal Fare Collection and MaaS

Indonesia’s capital Jakarta, whose metropolitan area is home to more than 30 million people, is notorious for its stifling traffic congestion. In response, the government metro and light-rail networks and now it is funding an expansion of the fare-collection system to enable more multimodal payments and to build a mobility-as-a-service platform.

Exclusive: NFC Wallets Grow as Share of Contactless Fare Payments and Not Only Because of Covid

Transit agencies that have rolled out open-loop contactless payments are seeing growing use of NFC wallets to pay fares, as Covid-wary passengers see convenience in tapping their phones or wearables to pay.