MBNA CHANGES

MBNA Canada Bank is notifying its customers of several changes to the terms and conditions of their account, effective beginning August 7.
MBNA is one of the first banks in Canada to announce that it is adopting the “high to low” method of payment allocation. That is, payments made on an MBNA credit card account will go towards paying the balance with the highest interest rate first, resulting in customers paying less interest over time. This applies to the minimum payment amount and any amounts over the minimum payment, which is better for the customer and is over and above the regulatory requirement. Other changes include: improved statement and simplified account agreements, increased minimum payments and the elimination and streamlining of certain fees. MBNA will implement these business changes at the same time that it implements the Federal Government’s new Credit Business Practices Regulations and amendments to the Cost of Borrowing Regulations, which come into force on September 1.

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MONEYSOLVE

Debt management experts at MoneySolve believe that adults who are struggling to keep up repayments on loans or credit cards should be given more debt advice options by their creditors. The debt experts believe that creditors issuing payment chasing letters to those struggling to keep up with their financial commitments should make a range of options known to the debtors. MoneySolve advisors believe that this will encourage more people to seek help where needed earlier.

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E-LICENSES

Gemalto has surpassed the ten million mark for
electronic driver’s licenses and electronic registration certificates
for vehicles delivered to India. The e-Driver’s License incorporates a microprocessor that securely
stores the driver’s data, protecting citizens against identity theft. In
addition, it contains information on the driver’s history which is
expected to contribute to a reduction in car accidents. Similarly,
statutory data about the vehicle, its registration, its owner, vehicle
insurance and pollution control certification is stored in the
microprocessor embedded in the e-Registration Certificate card.
Gemalto is also deploying Driver’s Licenses in Australia, El Salvador,
Finland, Mexico, Norway and Sweden.

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Chase Community Giving Launches Summer Program

Chase has kicked off its
Chase Community Giving Summer 2010 program on Facebook to award more than $5 million to be shared among 200
charities with grants ranging from $20,000 to $250,000. Chase Community Giving provides an opportunity for small and local
organizations to build awareness of their causes on a national level. The first Chase Community Giving program saw over
2 million users on the Facebook platform become fans of
the program and helped decide which, of more than 500,000 charities,
should receive a share of $5 million. More than 100 winners from 31
states were selected. Chase Community Giving is back again – and
improved. The number of charities eligible to receive awards has doubled
and several new tools have been introduced. The site for the Summer 2010 Program is live now and can be found at http://apps.facebook.com/chasecommunitygiving. Charities can start
personalizing their pages and voting begins June 15. Winners will be determined on or around July 13.

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M-Payment Provider Stakool to Acquire LinQpay

Stakool mPayments and global payment provider LinQpay, giving
the former a 100% stake in the latter. The acquisition joins two complementary businesses, positioning Stakool,
to capitalize on the growing mobile payment and web-based payment
opportunities. With services in South Africa, China and India, LinQpay
offers “Mobile LinQ” and “Global LinQ” services. Mobile
LinQ, the patented mobile carrier and device agnostic Mobile Payment
Service leverages standard wireless phones merchants already carry to
process secure payments and deliver user friendly real-time data. Global
LinQ, enables e-commerce merchants a single point of connection for
global payment methods and multi-currency transactions. LinQpay’s
clients include Tupperware, Avroy Shlain, University of Johannesburg and
the University of KwaZula-Natal. The acquisition will enable Stakool to
provide leading payment solutions to all segments of the e-commerce and
m-commerce industries. Terms of the deal were not disclosed.

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MONEYGRAM & CITI

MoneyGram International and Citi are set to expand MoneyGram’s money transfer
services to all Citi locations in Costa Rica, El Salvador, Guatemala,
Honduras and Nicaragua. Citi has grown extensively in the region since 2007 when it acquired
Grupo Cuscatlan and Grupo Financiero Uno. Both institutions had provided
MoneyGram money transfer services for 15-years in El Salvador and Honduras.
MoneyGram began its global money transfer services in Central America
more than 15 years ago. The company has expanded in the region and today
has a leading network comprised of financial institutions and retailers.
In 2009, Central America received nearly $11.6 billion in remittances
according to the Inter-American Development Bank. Central America is
highly dependent on these funds as the IADB estimated it accounts for
nearly 17 percent of the region’s gross domestic product.

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Last-Minute-Gifts.com Readies Father’s Day eGift Cards

CashStar has launched “Last-Minute-Gifts.com” for shoppers hunting for the perfect
Father’s Day gift. Consumers start by selecting the retailer from which
they would like to purchase a personalized eGift Card.
Last-Minute-Gifts.com offers instant access to eGift Cards from a
variety of leading retailers and restaurants including The Home Depot,
The Container Store, Chili’s, Uno Chicago Grill, O’Charley’s
Restaurants, Steak n’ Shake, Dippin’ Dots and Travelocity, among others.
Consumers then choose the eGift Card design and denomination. They can
add their personal touch with a note or can upload an image to make the
card a truly personalized, unique gift. The card is sent instantly or at
a set delivery date via email. The recipient is notified via email of
their eGift Card or the card can be printed for in person gifting.
The secure, bar-coded eGift Cards can be redeemed in store or online at
participating retail sites. The cards carry no service fees or expiration dates and offer the most
personal, convenient and secure gifting option on the market.
CashStar is the digital gifting and incentives company.

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SmartCard Marketing Systems Inks Sales & Distribution Agreement

SmartCard Marketing Systems has forged its latest joint marketing campaign with Latin Phone telecom company in the Hispanic marketplace. Set to market Latin Phone’s open-loop prepaid debit cards to their existing customer base of over 800,000 customers. The prepaid cards appeal to un-banked or under-banked, a growing market thanks to the extended recession. Smart Card Marketing Systems was established in 2003, offering prepaid cards, stored value smart cards and payment processing services. The company’s goal is to partner with national and international organizations to purchase and market Smart Card’s products. Smart Card plans to achieve this goal through powerful sales organizations and merchant reseller programs utilizing their GoSmartCard platform.

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Mobey Forum publishes m-payment Guidelines

Mobey Forum mobile financial services ecosystem has released its white paper specifying implementer guidelines for mobile remote payments. The white paper will be of particular interest to senior decision-makers at financial institutions, and informs readers on how mobile remote payment technology can effectively be delivered to end-users by leveraging existing systems and establishing an open infrastructure. This Mobey Forum white paper focuses on mobile remote payments which enable two parties to send and receive payments or exchange funds using the mobile channel to provide practical guidelines for implementation, leveraging both existing infrastructures and standard payment instruments such as credit transfers, card payments and transfers between stored value accounts. It touches on the Common Infrastructure Model; Intermediate Operability Model; and the Direct Interoperability Model.

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Co-operative Bank Renews Unisys Check Processing

Unisys Payment Services has won a five-year extension of its check processing contract with The Co-operative Bank. Signed in the first quarter of 2010, the extension has an estimated value of more than $US43million and allows Unisys to continue providing outsourced check processing and image archiving services to The Co-operative Bank until 2015. It will also give access to the Unisys Payment Information Engine (PIE) online cheque image archive. The Co-operative Bank is part of The Co-operative Group, the UK’s largest consumer co-operative. Unisys has been an outsourcing services partner to The Co-operative Bank since 1994.

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USA Technologies Extends Rights Offering

Wireless non-cash technology provider USA Technologies has approved an
extension of its ongoing subscription rights offering.
Under the terms of the rights offering, the Company distributed at no
charge to the holders of its common stock and its publically traded
warrants as of May 19, 2010, non-transferable subscription rights to
purchase up to an aggregate of $7,521,891 of new shares of common stock
and related warrants. Each right entitles the holder to purchase 1 share
of common stock at the subscription price of $.90 per share of common
stock and a related warrant that would entitle the holder to purchase
one share of common stock at the exercise price of $1.13 per share of
common stock. The Company intends to use the proceeds of the rights
offering for providing financing for the manufacture of its ePort
cashless payment products.

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Danal Partners With Major Players in Online Gaming Arena

CA-based e-commerce provider Danal is partnering with major online games providers as
participating merchants for its “BilltoMobile” payment service. Among
dozens of online merchant partners who are participating in the launch
of service in the US are Nexon America NHN, Perfect World, Ntreev, YNK Interactive, Fantage,
Cyberstep, Gravity, Three Rings, Global Tongue, KBS World, MMOABC,
Onnet, Planet Cazmo, Ray Flame, Thebroth.com, Uforia, Xivio, and Gamepot
USA. Danal merchants are featuring the “BilltoMobile” service on their
eCommerce sites as a payment option, along with the traditional choices
of credit card, bank card, PayPal and others. Collectively, these
initial launch partners generate more than $1 Billion in annual global
revenues. In Korea, the addition of Danal’s mobile payment solution has,
in some cases, led to a 25 to 50% increase in sales for merchant partners.
With Danal’s long-proven payment gateway operating the connection
between the carrier and BilltoMobile™ merchants, participating merchants
benefit from market-competitive merchant fees, as
well as BilltoMobile’s robust back office and real-time data views with
real-time customer transaction adjustment capabilities.

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