X2

X2 Computing mobile computing solutions has made available its “X2410” and “X2415″ handheld computers for improved work flow and enhanced productivity in retail and POS apps and payment processing. The handhelds feature a 3.5” resistive touch, outdoor-viewable display with fully-integrated MSR, RFID reader and barcode scanners. The X2 handheld devices also include remote management software with rugged design for IP54 rating of liquid and dust resistance; hot-swappable batteries that support up to eight hours of use; programmable buttons; wireless networking; Bluetooth connectivity; and LED paging alert capability.

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VERIFONE & GEMALTO

VeriFone Systems and Gemalto have formed a comprehensive strategic partnership to jointly pursue opportunities to accelerate EMV payment adoption, harbor discussions for a Gemalto POS solutions acquisition, and allowing Gemalto as the preferred M2M VeriFone wireless module supplier. With this, they will jointly pursue new chip card solutions based on the global EMV payment standard with a focus on the US market. VeriFone is seeking to acquire Gemalto’s POS solutions business, for which it believes customers will benefit from access to VeriFone’s full payment solutions product line. Based in France, the POS solutions business would also serve as an ideal launching pad for VeriFone’s planned European expansion campaign.

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DATACARD

MasterCard has completed its acquisition of DataCash for $526 million in aggregate. This expands MasterCard’s existing e-Commerce merchant gateway presence in Asia and Australia to European countries and other high-growth, emerging markets worldwide, and allows MasterCard to provide new services to acquiring customers and drive increased e-Commerce penetration in both existing and new markets.

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USA Tech Hits Deloitte LLP’s FAST 500 List

USA Technologies cashless networking services has been named to Deloitte’s 2010 “FAST 500” List of the
Fastest Growing Companies in North America. Having ranked 23 in the Greater Philadelphia Area and 482
in North America of the fastest-growing technology companies as determined by Deloitte, USA Technologies
grew revenues 157% since 2005. This is a direct result of new product introductions, increased market share,
and additional customer wins. Also, over the past 12 months, USA Technologies has achieved 82,000 device
connections as of June 30, 2010 and expects to achieve 100,000 devices connected to its network by the
end of 2010.

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Citi Launches SMB Partnership in NYC

Citi has partnered with the New York City Department of Small Business Services (SBS) to help New York
City’s small businesses and entrepreneurs obtain the technical assistance and financing they need to
start, operate and expand. Citi Community Development will provide $385,000 in funding to the new
partnership for expanding and enabling NYC Business Solutions to help more customers in all five boroughs
with accounting and loan packaging assistance. The funding from Citi will help address this issue by
enabling a larger volume of businesses in New York City to receive one-on-one technical assistance to
develop and manage the proper financial documentation. Also, Citi will launch an employee skill-based
volunteer initiative to provide mentorship and ongoing consultation between Citibank Small Business
bankers or underwriters and NYC Business Solutions financing account managers and ACCION loan officers
in New York City will be matched to Citi employees, a microfinance organization providing flexible loans.

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DataWorks Launches 4th Gen POS Interface

DataWorks has made available its “SmartSpoke” fourth generation POS interface. Building on the traditional
hub and spoke design by adding a revolutionary communication layer, “SmartSpoke” guarantees POS
security and is PCI compliant to alleviate any risk from hacking. Microsoft Dynamics RMS offers small and
mid-market retailers a complete POS solution that can be adapted to meet unique retail requirements and
automates POS processes and store operations and integrates with Microsoft Office system programs,
Microsoft Dynamics GP, and other popular applications.

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38% Intend to Spend More Online Y/Y

With 38% of consumers intending to spend more online for holiday gifts, a 9% increase over last year, the average shopper is planning to spend an average of $283.68 online in 4Q/10, a 3% increase over 4Q/09. Moreover, 15% plan to do most of their shopping on Cyber Monday; 55% plan to avoid Black Friday in favor of shopping online-up 7% year-over-year; 69% know they will purchase at least one gift card for the holidays this year; and last year 33% enjoyed a debt-free holiday by paying cash. This, according to the eBillme Online Spending Index by Javelin Research, also shows last year 39% had all purchases paid off in less than three months; 12% in three to six months; 5% in six to nine months; and 5%are still paying off last year’s holiday gifts. According to the Cardflash Library, U.S. consumers are planning to spend an average of $688.87 this upcoming holiday season, compared with the $681.83 last season, and 57.1% are planning to spend an average of $107.50 on themselves, compared to the year ago figure of 52.9% planning to spend an average of $101.37 on themselves.(CardFlash Library 2010/10/21)

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iVend Retail 5.4 certified by SAP

CitiXsys Technologies now has iVend Retail certified by Integration and Certification Center at SAP, confirming
the development of iVend Retail is as per the SDK development guidelines prescribed by SAP. CitiXsys Technologies
is one of the largest Software Solution Partner to SAP and reaps business benefits from robust and intuitive
applications. iVend Retail is an end to end Retail Management Solution for Retail Store Chain companies
covering all aspects of Retail Business and POS operations while CitiXsys is a software products and services
company which provides vertical and horizontal industry solutions.

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US Bank Payment Services Net Income Up 19% Q/Q

U.S. Bancorp reported net income of $908 million for the 3Q/10, driven by a total net revenue of $4.6 billion for 50.6% growth over the year ago period and 18.5% higher than the previous quarter. Meanwhile, total net revenue was $4.6 billion for a 7.9% increase on the year ago period while the Payment Services division contributed $215 million for$142 million increase on the year ago period and a $34 million increase on the previous quarter, thanks in large part to higher total net revenue and a lower provision for credit losses. The Payment Services total net revenue increased $54 million since 3Q/09 while net interest income increased $32 million thanks to growth in credit card balances and improved loan spreads. The Payment Services’ contribution was $34 million higher than the previous quarter thanks to lower credit losses and higher total net revenue and total net revenue increased $17 million. Total noninterest income was $14 million higher on a linked quarter basis because of higher transaction volumes while net interest income increased $3 million due to wider loan spreads and higher volumes.

MERCHANT ACQUIRING VOLUME HISTORICAL
1Q/08: $64,853,000,000
2Q/08: $66,940,000,000
3Q/08: $66,941,000,000
4Q/08: $58,630,000,000
1Q/09: $57,877,000,000
2Q/09: $59,725,000,000
3Q/09: $62,011,000,000
4Q/09: $60,729,000,000
1Q/10: $63,437,000,000
2Q/10: $72,952,000,000
3Q/10: $68,620,000,000
Source: CardData (www.carddata.com)

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Bluepoint Launches mCheck Deposit App

Bluepoint Solutions remote deposit capture (RDC), image-based item processing and enterprise content
management software technology for financial institutions has made available mobile remote deposit
capture into an application built for Android-powered smart phones. Bluepoint has configured its
“QwikDeposit ToGo” app for the Android operating system in response to the growing demand and
popularity of Android, currently composing of 9% of the U.S. smart phone market with the fastest growth over
the last six months. The “QwikDeposit ToGo” app enables consumers to securely deposit checks with a
camera-equipped smart phone, transmitted with multiple layers of security.

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AmEx Card Services Posts $595mm Net Income

For the 3Q/10, American Express Card Services has posted a net income of $595million for a massive increase over the year ago figure of $158million. American Express Card Services total revenues increased 23% to $3.7 billion from $3.0 billion thanks to consolidation of securitized cardmember loans and higher cardmember spending. Provisions for losses totaled $274 million, down 68% from $850 million a year ago. Total expenses increased 26% with marketing, promotion, rewards and cardmember services up 39% from the year-ago period. Globally, the AmEx International Card Services reported net income of $153 million for the quarter, up 15% from the $133 million in 3Q/09, while total revenues were $1.2 billion. Total expenses increased 25% with marketing, promotion, rewards and cardmember services expenses up 42% year-over-year.

AMEX CARD NET INCOME
3Q/08: +$244 million
4Q/08: +$ 4 million
1Q/09: -$ 25 million
2Q/09: -$153 million
3Q/09: +$158 million
4Q/09: +365 million
1Q/10: +$428 million
2Q/10: +$522 million
3Q/10: +$595 million
Source: CardData (www.carddata.com)

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