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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ParTech Launches New POS & Kiosk

ParTech has introduced its “EverServ Kiosk 6000” to
provide customers enhanced self-service options that speed customer
service. The new touch-screen kiosk was developed in collaboration
with ISV partners Titan and Vista Entertainment Solutions (Vista) to
optimize, test, and integrate their cinema ticketing application software
into the “EverServ Kiosk 6000”. It will also integrate PAR’s “EverServ
PixelPoint POS” application with the kiosk, which is designed to work
with virtually any kiosk application. The “PAR EverServ POS” Kiosk
6000 system features a bright, 15-inch LCD display with high-durability
capacitive touch-screen technology with a rugged construction and open-
architecture design.

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U.S. Bank Partners & CashEdge to Launch e-/m- P2P

CashEdge Intelligent “Money Movement” services and U.S. Bank are partnering to launch the CashEdge “Popmoney” person-to-person online and mobile payments service later this year. U.S. Bank will offer “Popmoney” to its m-banking customers through usbank.com and the downloadable mobile banking application, the U.S. Bank Mobile Wallet. U.S. Bank is the first large U.S. bank to offer a mobile P2P solution that enables users to send money directly from their bank account to anyone with an email address, mobile phone number and a bank account.
CashEdge “Money Movement” solutions for financial institutions include mobile and online person-to-person (P2P) payments, account transfers, account opening and funding, small business applications and financial account aggregation, collectively moving more than $50B every year.

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US Bank Acquires Kroger Credit Card Portfolio

U.S. Bank and The Kroger have formed a strategic alliance, giving Kroger customers a suite of payment products. With this, U.S. Bank has purchased Kroger’s existing credit card portfolio from RBS Citizens and plans to offer additional financial services for Kroger customers. Kroger creates an ideal platform to introduce innovative payments products and financial services. The alliance is an expansion of U.S. Bank’s extensive financial services relationship with Kroger, the nation’s largest traditional grocery retailer, which began in 1930. U.S. Bank currently provides a number of retail, corporate banking, trust, capital markets and credit services for Kroger. Kroger has nearly 2,500 locations operating under several brand names and U.S. Bank operates bank branches in 192 of those locations through an in-store banking relationship.

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Money Weighs on 30% of American Relationships

Amongst American couples, 30% say finances cause the most stress in their relationship, 11% say intimacy, 9% say their children while 4% say their in-laws. Additionally, 91% of Americans find reasons to avoid money talks with their partner; 43% of the general population talked money before marriage, while 57% of affluent couples and 81% of young professionals did so; and 12% of the general population have never talked about money with their spouse. This, according to the latest American Express “Spending & Saving Tracker” survey, also shows 66% of couples share all monthly expenses; 34% divide their bills each month; 48% of young professionals separate monthly expenses, as do 37% of affluents and 34% of the general population. Additionally, 43% of young professionals keep some or all of their debt separate from their spouse or significant other, compared with 20% of the general population and 22% of affluents; 55% of the general population and 63% of affluent couples carry an equal amount of debt, while only 39% of young professionals do so.

COUPLES’ WISHLIST
SAVINGS/INVESTMENTS: 32%
RESPONSIBLE SPENDING:27%
EST FINANCIAL GOALS: 17%
SOURCE: AmEx

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AmEx Enhances U.S. Open Fan Experience & Interaction

American Express will offer a variety of premium benefits and on-site programs at the 2010 U.S. Open at Pebble Beach to enhance the spectator experience for Cardmembers and attendees. In doing so, it will provide new interactive experiences for all golf fans at the AmEx “Championship Experience,” offering CourseCast TV and Radio devices to bring attendees closer to the game, and access to the exclusive American Express “Cardmember Club” for a ‘premium escape on the 15th fairway.’ The American Express “Championship Experience” lets all attendees view historic memorabilia from the USGA collection, including landmark moments in golf history and the legacy of U.S. Open Championships at Pebble Beach. Included will be the “Interactive Media Wall” with an innovative 35-foot multimedia wall and spectator experience highlighting a Live Leaderboard, USOPEN.com feeds; “American Express CourseLink” access to social media networks at CourseLink kiosks; complimentary “Swing Analysis” with cameras to capture swing and advanced motion technology to analyze form and a 10-minute golf lessons by appointment with a PGA of America Professional.

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mopay Now Available in 18 Latin American Countries

Mobile payment service provider mopay has expanded the global reach of its mobile payment platform has added 11 new countries to its coverage map, racking up the total number of countries covered to 75. The 11 recently added countries include Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Bolivia, Ecuador, Paraguay and Uruguay. mopay connects to the major carriers in each of these countries facilitating the billing of small amounts to mobile phone accounts, enabling consumers to choose mopay as means of payment to buy digital and virtual goods with their mobile phones. Among mopay’s customers are renowned portals from the gaming, community and contents sectors.
Beneficiaries of this expansion are both companies in Latin America with a global focus as well as mopay’s well-established customer base in Europe, North America and Asia who address this market.

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Fiserv Responds to Reg E With Overdraft Opt-In Programs

Fiserv unveiled its Regulation E “Opt-In Optimization Programs” to help its clients prepare for the regulation’s July 1 deadline. These programs are in response to recent regulatory changes that require a consumer to opt-in before banks or credit unions can extend or continue to provide fee-based overdraft services for ATM and one-time debit card transactions. The three tiered “Opt-In Optimization Programs” include: Option One: Reg E Deployment Program and Implementation Workshop: This option is a proactive and affordable option enabling financial institutions to rapidly meet compliance obligations and minimize revenue or consumer losses; Option Two: Reg E Consulting and Opt In Outreach Support: A consultant-led engagement provides tools and guidance needed to minimize the impact of Reg E changes while managing a seamless and effective opt-in program; Option Three: Reg E Outreach Complete: This option is a true turnkey Reg E Opt-In Optimization Program. Also a consultant led engagement, this program includes portfolio segmentation and other data analytics, opt-in optimization recommendations, staff and consumer training and a project plan/deployment guide. Regulation E (Reg E) was issued by the Federal Reserve as part of the Electronic Fund Transfer (EFT) Act, which establishes the basic rights and responsibilities of consumers using EFT services and of financial institutions offering these services.

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FIS Names New Senior Vice President, EFT Solutions

Brad Potter has been named senior vice president for the FIS EFT Solutions division. For the banking and payments technology provider, Potter will oversee the growth and strategic direction of FIS’ EFT, debit and prepaid businesses. Brad previously held a variety of leadership positions within Visa as head of U.S. Processing and general manager of Visa’s Debit Processing Service (Visa DPS) and spent more than ten years in various management and technical positions with Deluxe Data Systems. FIS delivers banking and payments technologies to more than 14,000 financial institutions and businesses in over 100 countries worldwide.

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Stueve Siegel Hanson Investigates Unfair Overdraft Fees

Stueve Siegel Hanson is investigating unfair and deceptive practices relating to overdraft fees assessed by banks against debit card customers, namely with UMB Bank and Commerce Bank. Banks charge billions of dollars annually in overdraft fees, many of which result from banks’ systematic policy of re-ordering debit card transactions from highest dollar amount to lowest dollar amount so as to deplete the customer’s available funds as quickly as possible while maximizing the number of overdraft fees. Other practices that are the subject of this investigation include charging overdraft fees even in situations where in fact a customer has not overdrawn his or her checking account, charging overdraft fees even in situations where a bank in fact did not pay out more funds than were in the customer’s checking account, and failing to provide accurate account balance information on the bank’s website or at the POS.

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