Public Savings Bank Appoints New Board Member

Jeffrey Sklar, payment solutions compliance expert, is set to join the Public Savings Bank’s Board of Directors, which specializes in ACH, Wire Transfers, and Remote Deposit Capture payment solutions. Sklar has developed Anti-Money Laundering AML compliance programs and training programs for MSB’s broker/dealers, insurance companies, casinos, and traditional banking institutions. He also serves as the Managing Director of SHC Consulting Group, is a Certified Public Accountant, Certified in Financial Forensics, a Certified Anti-Money Laundering Specialist, a Certified Fraud Specialist and is the Co-Chairman of the Association of Certified Anti-Money Laundering Specialists Annual Conference.

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Fiserv Platform Recognized as Gartner Leader

Fiserv financial services technology “Signature” bank platform has been positioned by Gartner in the Leaders Quadrant of the 2010 “Magic Quadrant for International Retail Core Banking.” The Gartner “Magic Quadrant” is an annual analysis of international core banking system vendors and their technologies, evaluating market understanding and responsiveness; industry and geographic strategy; business model; innovation; product, sales and service; overall viability; customer experience and track record. Fiserv was placed in the Leaders Quadrant based on its Completeness of Vision coupled with Ability to Execute, and was one of 18 vendors named in the analysis from 40 original candidates. Moreover, the “Signature” platform offers a complete, real-time, service-oriented architecture (SOA)-based solution. It supports sophisticated overdraft and agreed credit arrangement (ACA) processing, collections and card products.

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Discover Posts Net Income Up $3MM Q/Q

Discover Financial reported 3Q10 net income of $261 million compared to the year ago figure of $577.8 million and 258.0 million last quarter. This was thanks in part to $24 billion in card sales volume, an increase of 5% year-over-year; net charge-offs being down $102 million, compared to $81 million last quarter; over 30 day-delinquencies down $180 million from the prior quarter; and the continuously dropping net charge-off rate of 7.18%. Additionally, Discover Payment Services’ showed continued strong results with profit before tax up 36% from the prior year, and transaction volume of $39 billion, up 8% from the prior year.

U.S. CARD PRE-TAX PROFITS
1Q/09: $167.0 million
2Q/09: $387.9 million
3Q/09: $577.8 million
4Q/09: $546.5 million
1Q/10: $207.6 million
2Q/10: $258.0 million
3Q/10: $261.0 million
Source: CardData (www.carddata.com)

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WU & DHL

Western Union global payment services has partnered with DHL Express to expand their cooperation to introduce international business payment services to DHL customers throughout Europe. This allows Western Union to attract a new customer segment and DHL Express to offer additional value-added services to its customers. Their alliance currently offers the Western Union “Money Transfer” service in Latin America and the Caribbean, which will now be available at DHL’s 5,000 locations in Europe. These locations include DHL’s own locations and those owned by franchisees.

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VeriFone Exclusive Resort Payment Supplier

VeriFone Systems payment solutions have been deployed exclusively to serve customers at the recently opened Marina Bay Sands Hotel and casino in Singapore. With over 2,500 rooms and suites, the three towers of the Marina Bay Sands Hotel is the biggest hotel in Singapore and, together with the casino resort and a conference centre, is Asia’s leading destination for business, leisure and entertainment. VeriFone EMV-approved solutions are being used throughout the resort, including the multimedia device, MX 870 for check-in and check-out at the hotel towers, to a range of systems installed to efficiently collect government-mandated entry levy required of Singapore residents.

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SmartCard Marketing to Provide 100k+ Prepaid Education Cards Annually

SmartCard Marketing Systems has signed an agreement as a principal involving three other companies, including The GoodNetwork System, creator of the L.E.A.P. Learning System, to provide a minimum of 100,000 prepaid cards per year in a 5-year project to introduce “real world” financial education modules to over 20 million school children in The GoodNetwork’s group of affiliated schools. The agreement calls for an initial order of 20,000 prepaid cards with additional orders of 25,000 cards every 90 days, for which SmartCard Marketing Systems has been named the exclusive provider of prepaid debit cards and payment platform solutions. The GoodNetwork plans to begin rolling out the program also in the United States by the end of 2010 which will be significant to all parties included.

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Citi Rewards Program Receives COLLOQUY Award

Citi “ThankYou Rewards” loyalty program has been named the winner of COLLOQUY’s “Master of Enterprise Loyalty” award, honoring the Program’s innovations in the loyalty industry as voted on by COLLOQUY magazine subscribers. The “Master of Enterprise Loyalty” award is given to the company that can best demonstrate that its enterprise loyalty strategy had been adopted and integrated across the enterprise. This was awarded thanks to Citi having created customer-specific insights from transactional data and collected customer preferences; leveraged these insights to develop enterprise-wide customer strategies, including creating customer segments that reflect their existing and potential value; focused the organization’s entire retail or service offering based upon customer-specific insights including: merchandising, pricing, new product/service development, operations, marketing, customer experience, store layout/design, and store locations; and incorporated customer-based metrics as a measure of corporate performance.

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AVT Provides Retail Industry Benefits

AVT automated product dispensing is offering advanced vending systems that offer customers everything from activated cell phones, to board shorts, to popcorn. At the heart of each system is a state of the art computer running new, highly advanced software programs and patent pending technologies that process a customer’s credit card in a matter of seconds, while also sending alerts to the machine’s owner — providing instantaneous real-time sales reports and inventory notifications. AVT recently expanded, doubling their manufacturing and development space in Corona, California to approximately 60,000 square feet.

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FIRST DATA

First Data electronic commerce and payment processing has partnered with
SK C&C USA to bring mobile commerce services to the US and eventually
worldwide. SK C&C has successfully provided services such as Trusted
Service Manager (TSM), a Mobile Wallet and Mobile Banking, to the South
Korean market since 2002. Its partnership with First Data will allow
collaboration with financial institutions, retailers and mobile
operators to provide innovative mobile commerce services to their
customers. SK C&C will deliver a complete set of convenient and secure
mobile commerce services to First Data’s financial institutions and
merchant customers. Meanwhile, the SK C&C TSM platform will allow First
Data’s financial institutions and merchant customers to issue payment
cards, including credit and debit cards, prepaid and gift cards to the
mobile device.

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SunGard Processing Accredited by SWIFTReady, 11th Year Running

SunGard’s “IntelliMatch” solution suite, an enterprise-wide solution that streamlines processes for reconciliation, exception management, financial governance and archiving, has been accredited by SWIFT for the eleventh consecutive year. The “SWIFTReady” Reconciliation 2010 accreditation applies to the recently announced IntelliMatch solution suite version 9.0.
The latest SWIFT accredited release of SunGard’s IntelliMatch supports new transaction types, delivers analytical tools to drive continual process improvement, supports intraday reconciliation to enable real-time visibility, and scales to handle higher transaction volumes. As a result, IntelliMatch can help customers gain improved operational efficiency, reduced operational risk, and enhanced scalability and performance.

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BofA Ahead of Plan on 10-Year, $20b Eco Initiative

Bank of America is ahead of schedule on its 10-year, $20 billion business initiative focused on addressing climate change launched in 2007, comprised of hundreds of transactions throughout the world. Through June 2010, Bank of America has directed $8.4 billion through lending, investing, capital markets activity, philanthropy and the company’s own operations
in 45 states, the District of Columbia, Canada and markets across Asia and Europe. The 2010 report provides an update on the company’s progress toward its environmental goals, commitments and activities for $2.2 billion in equipment financing for energy efficiency projects and renewable energy projects in solar, wind, biomass and biofuel technologies for both utilities and end users; $102 million in transactions that have financed emission reductions in the global carbon markets; and $21 million in philanthropic support for nonprofit organizations focused on addressing climate change and other environmental opportunities.

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Allied Wallet Developing New Software and Platform

Allied Wallet currently has proprietary ACH processing, Credit Card, E-Wallet software with an integrated affiliate system which it has successfully used for over 5 years. Development talks have begun to redesign these systems completely to enhance functionality for merchants and customers of Allied Wallet. Allied Wallet has seen a demand in the e-commerce marketplace for payment service providers to have more robust features in payment gateways ranging from reporting tools to more advanced ways to combat fraudulent transactions. This is in the hopes of offering the best payment platforms for e-commerce merchants worldwide.

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