Wells Fargo Small Business Index Slips 17%

Fewer U.S. small business owners expect revenues, cash flow, capital spending and hiring to increase over the next 12 months. Credit conditions improved modestly for businesses in July, with 32% reporting it was “somewhat” or “very difficult” to obtain over the past 12 months, down from 36% in April. These findings, according to the July Wells Fargo/Gallup “Small Business Index,” also show 42% of business owners expect credit to remain “somewhat” or “very difficult” to obtain over the next 12 months as. This data translated to a 17-point decline from April in the survey’s index of business owner confidence, finishing at (-28), the lowest score since the survey’s inception. The Index is the sum of “present situation” and “future expectations” of small business owners for six key measures. Future indications show 38% expect their companies’ revenues to increase over the next 12 months; 43% expect their companies’ cash flow to increase; 37% expect their companies’ allocation for capital spending to decrease over the next 12 months; and 13% expect the overall number of jobs at their companies to increase. Presently, 36% rated their cash flow as somewhat or very good for the past 12 months.

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APR DEBT

Wincor Nixdorf AG completed the first nine months of the current 2009/2010 fiscal year with a decline in net sales and operating profit (EBITA). In the first nine months net sales contracted by 3% to EUR1,682 million (previous year: EUR1,729 million). EBITA declined by 12% to EUR121 million (EUR138 million). Accordingly, the EBITA margin fell by 0.8 percentage points to 7.2% (8.0%). Profit for the period was down 8% to EUR80 million (EUR87 million). In the third quarter of the current fiscal year net sales for the Group rose by 5% to EUR521 million (EUR496 million). In the same period, EBITA fell by 6% to EUR33 million (EUR35 million). Against the backdrop of a sluggish quarterly performance, as anticipated, the company confirms its outlook for fiscal 2009/2010 as a whole. Net sales in the Banking segment ended the first nine months of fiscal 2009/2010 5% lower at EUR1,132 million (EUR1,195 million). In the third quarter, net sales grew by 3%.

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Giftango Delivers Virtual Gift Cards to 35 National Brands

Giftango virtual gift cards has signed 35 additional national merchant brands in retail, travel, hospitality, cosmetics and consumer electronics. Simplifying the management and delivery of virtual gift cards for both issuers and distributors, Giftango’s solution allows Incentive and Loyalty companies to make a onetime connection to Giftango and issue gift cards to the consumer’s email address and or mobile device. This lowers fulfillment costs, inventory concerns, verified delivery, retail outlet acceptance, and the ability for the consumer to re-gift the virtual card.

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VOCALINK

Metro Bank has outsourced the management of its ATM estate, domestic and international payments and debit card processing to VocaLink. The VocaLink Service Bureau will provide Metro Bank with Straight-Through-Processing rates, as well as access to a comprehensive range of connectivity services, including SWIFT. The solution supports connectivity between Metro Bank, its customers and other clearing services that Metro Bank will participate in. By meeting all connectivity requirements through the VocaLink Service Bureau, Metro Bank will be able to boost productivity and minimise costs. With this, Metro Bank will minimise overhead costs and maximise the revenue potential of its ATM estate. The service covers everything from staging, connectivity and installation to 24 hour network, device monitoring and maintenance.

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2C Processor USA Joins Intacct Partner Program

Intacct and 2C Processor USA (2CP) have partnered to deliver integrated credit card processing solutions for Intacct clients. 2CP provides a fully PCI compliant payment gateway along with merchant processing solutions, integrated with the Intacct cloud financial management system. 2CP has also joined the Intacct-Ready Partner Program, which is designed to create an ecosystem of pre-integrated best of breed cloud-based applications for Intacct clients. The integration between 2C Processor USA and Intacct enables joint customers to simplify billing and accounting functions related to credit card processing. With TPro from 2CP, all invoicing, credit card processing and recurring billing activities handled through 2CP automatically flow into the Intacct financial management system.

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ZOOMPASS

EnStream mobile commerce domestic person-to-person (P2P) money transfers are now free through the “Zoompass” Mobile Wallet. With “Zoompass,” users can now pay back friends without incurring any fees. These everyday transactions can now be done electronically, more conveniently and at no cost via the Zoompass Mobile Wallet. Users can also use the service for larger transactions with just a few keystrokes on their mobile phone.

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uMonitor and Beacon Software Offer Internet Banking

uMonitor has partnered to provide a full integration of its account opening and money transfer services for the Beacon Internet Banking Platform, offering Beacon’s financial institution customers online financial solutions. The Beacon Internet Banking Platform enables banks and credit unions to develop a business-critical Internet banking presence using a single platform that is managed in-house or hosted in its data center, ensuring total security of information and protection of customer relationships. By integrating with uMonitor services, financial institutions can automate the setup of new accounts while also improving application completion rates, regulatory compliance, back office efficiencies and customer satisfaction.

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WALL STREET RESEARCH

Credit card charge-offs have declined for the third straight month while poor consumer loan demand has kept the credit card industry relatively flat. Major credit card companies like American Express and Capital One Financial recent quarterly profits beat expectations. Both American Express and Capital One Financial released their earnings last Thursday with profits close to a triple of what it was the same quarter in 2009. Both companies have seen losses on bad loans decline for the quarter. The tightening of consumer spending due to the economic crisis and lower employment rates has kept the companies in check.

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FICO Launches New Standard for Credit Risk Assessment

FICO analytics and decision management technology has launched its “FICO 8 Score” for consumer credit risk assessment. To the more than 2,500 banks and financial institutions having adopted the neoffering, “FICO 8 Score” provides enhanced predictive analytics of the new score. The “FICO 8 Bankcard Score” has resulted in a gain of up to $5.5 million on 2 million newly booked credit card accounts and for account managers across the entire card portfolio could produce an estimated $12 million in net new profit. The new score will assist the lender in segmenting their customer base for cross-sell promotions and credit line increases. FICO Scores are in use at more than 90 of the 100 largest U.S. financial service institutions and is available to lenders in 20 countries.

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COF

Credit card charge-offs have declined for the third straight month, but poor consumer loan demand has kept the credit card industry relatively flat.Major credit card companies like Discover Financial Services posted quarterly profits. However, the tightening of consumer spending due to the economic crisis and lower employment rates have kept some companies in check. Customers without jobs are now hesitant to get into debt, and customers with good jobs, acutely aware of their privileged position, are also purchasing less on credit.

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PREMIER MILES

Ikano Bank and PBS have centralized the processing of the Bank’s card transactions. With this, PBS now processes card payments for Ikano Bank in Denmark, Sweden, Norway, Finland and Germany. Ikano Bank’s primary business area is issuing debit and credit cards, either private label cards or co-branded cards in cooperation with its business partners. Ikano offers a standardised solution at a favourable price and the bank is therefore an attractive partner for businesses aiming to issue new co-branded cards in Denmark, Sweden, Norway, Finland or Germany. In 2007, Ikano Bank and PBS entered into an agreement for PBS to support Ikano’s card business in the countries where Ikano Bank operates.

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GEMALTO

Zitouna Bank in Tunisia has selected the Gemalto digital security “Dexxis Instant Issuance” solution for on-the-spot EMV card personalization across the bank’s branches nationwide. Zitouna is the first bank in Tunisia to introduce innovative services adapted to Islamic financial practices. The newly opened bank is also the first in the country to offer instant issuance and on-the-spot delivery of payment cards that enable its customers to use their new payment cards immediately. The “Dexxis Instant Issuance” solution forms a part of Zitouna’s marketing strategy to differentiate its offers while offering the same high security level and quality of service as in traditional large-volume personalization methods.

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