DeviceFidelity Introduces M-Payment for iPhone

DeviceFidelity has made available its iPhone “In2Pay” for contactless Visa mobile transactions. By waving the iPhone in front of a contactless payment terminal, DeviceFidelity’s “In2Pay” microSD technology provides iPhone users secure contactless capabilities where contactless transactions are offered. They range from buying goods in retail stores and at unattended kiosks, to transit ticketing, securely accessing buildings and computers networks. DeviceFidelity and Visa partnered to offer “In2Pay” along side Visa “payWave” technology, allowing a microSD memory slot for use as mobile contactless payment. Designed to stay attached to the iPhone, providing a micro USB slot for users to sync and charge their devices, “In2Pay” offers users the ability to add greater convenience, flexibility and functionality.

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Heartland Payment Systems On FORTUNE 1000 List

Payment processor Heartland Payment Systems
has been named to the “FORTUNE 1000” list of
America’s largest companies by FORTUNE magazine and debuts on the
list at #954 with 2009 revenues of $1.652 billion. Selling
Power magazine named Heartland the #1 Service Company to Sell For in
America in each of the last two years, and ranked Heartland #83 on its
2009 list of “500 Largest Sales Forces” in America. Heartland has also
been recognized as a top technology innovator, having been named to the
InformationWeek 500 for three consecutive years and the #1 innovator on
Bank Technology News’ FutureNow list for its industry leading E3
end-to-end encryption technology.

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CITI SHELL

In a survey conducted by Citibank with
Czech drivers, 38% of respondents indicated that they choose
where to fill their tanks based on the fuel brand with the lowest price
per liter. Equally important is location, with 37% of respondents
indicating that they always fill their fuel tanks at the nearest filling
station. The new benefits of the credit card Shell MasterCard from Citibank allow
customers to save on high quality fuel products. Drivers paying with
this credit card automatically receive a 5 percent discount on their
total bill, when filling at Shell stations. This card enables the
average Czech driver who spends CZK 20,196 on vehicle fuel annually, to
save over CZK 1,000. In addition, the cardholder can also enjoy a 0.5% discount on all other purchases whether in the Czech Republic
and abroad.

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Central Bank of Oman Deploys ACI BASE24-eps ATM/POS Switch

E-payment provider ACI Worldwide’s BASE24-eps has been selected by the Central Bank of Oman (CBO)
foundation for the new national switch. The CBO has also selected ACI Simulation Services for Enterprise
Testing (ASSET) which will be used by the bank internally for
testing, as well as by the national switch member banks for the
certification process with CBO. BASE24-eps will be the retail payments
engine for the debit processing platform, providing intelligent
transaction authentication, authorization and routing capabilities.
The project consolidates the previous two independent
switches into one central solution under the ownership of the Central
Bank, and migrating all financial institutions onto the common
platform. It will be processing volumes of approximately 5 million ATM
and POS transactions per month. The new system will be able to handle
EMV transactions, and the project includes a national roll-out of EMV
technology for all financial institutions in Oman.

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Average Family to Spend $4,000 on a Summer Vacation

Despite the economic downturn, 51% of Americans are planning a vacation this summer, of which 73% of affluents and 83% of young professionals are planning a getaway. The average vacationer plans to spend an average of $1,000 per person on summer travel-$4,000 for the average family of four, $4,800 among young professionals and nearly $6,400 among affluents. This, according to the latest American Express “Spending & Saving Tracker”- a sample of 2,000 adults- also shows while family trips will be most popular (52%), other vacation types include couples trips (26%); Trips with friends such as “girlfriend getaways” and “mancations” (10%); “staycations” (11%); Experiential or adventure vacations (7%); Educational vacations (4%); (89%) will stay within the U.S., with destinations in the South (31%) and Northeast (29%) being the most frequented. A significantly smaller percentage of consumers (16%) plan to travel outside of the U.S., primarily to the Caribbean (6%), Canada (5%), and Europe (4%). Affluents (19%) are more likely to venture outside of the U.S. and young professionals (29%) are twice as likely as the general population to do so. Among the general population, affluent, and young professionals, 80% have a strategy to reduce the cost of their summer vacations.

SAVING STRATEGY GEN/AFF/YOUNG
Driving, not flying 33% 28% 33%
shorter stay 30% 24% 31%
spending less 27% 25% 31%
bargain-hunting 24% 31% 42%
Using point/reward 20% 26% 21%
Off Season Travel 13% 11% 22%
Downgrading 12% 7% 17%
SOURCE: AMEX

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AMEX & CODE

Amex Bank of Canada announces its
adoption of the Code of Conduct for the Credit and Debit Card Industry,
designed to set a level playing field for all participants
in the Canadian payments industry and to ensure full transparency and
choice for merchants. Amex will continue to work with the Department of Finance and the
Financial Consumer Agency of Canada to ensure that the Code is
interpreted and applied consistently. Amex is committed to ensuring that
its Cardmembers and Merchants continue to have access to the
convenience, choice and services they have come to expect from them.

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TSYS

Payment outsourcer TSYS was named ‘Card Processor of the Year’ by Cards International as part of its 2010 awards. The rationale for the TSYS award was outlined in a statement by the judging panel:
“TSYS, already one of the world’s leading processors, demonstrated its commitment to innovation in 2009 with the introduction of two new card products. It also continued to expand its overseas business in key markets including Brazil and India. TSYS’ Hybrid Card allows credit cardholders to pay now or pay later from multiple checking accounts all on the same card. TSYS also introduced a private label card that can be redeemed for specific products, tracking the barcode data and allowing the issuer to specify which products can be bought with the card, which has obvious social disbursement applications.”
TSYS was shortlisted for the award along with other global processors. The award is based on activities within the last twelve months rather than general excellence. TSYS previously won the award in 2007, in recognition of its successful expansion beyond its home market. Industry experts on the judging panel included: Francesco Burelli, Deloitte; Robert Courtneidge, Salans; Will Cain, VRL Financial News; Victoria Conroy, VRL Financial News; John Hill, Cards International and David Parker, Polymath Consulting.

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OKI ELECTRIC

OKI Electric Industry’s “ATM-Recycler G7” cash-recycling ATM intended for the worldwide market has passed the test mandated by Article 6 of Council Regulation (EC) No 1338/2001 of 28 June 2001. Set forth by the European Central Bank, the Article lays down a framework for the circulation of Euro banknotes to ensure the quality and reliability of circulating Euro banknotes. The European Central Bank has laid down a framework for recycling Euro banknotes to detect and remove from circulation damaged and counterfeit banknotes and to trace counterfeit users, thereby maintaining the quality and reliability of circulating Euro currency banknotes. Central banks in Euro currency countries perform a standard test to vendors that manufacture banknote processing systems to confirm compliance to the framework. The “ATM Recycle G7” is a high-performance, high-quality, high-reliability cash-recycling ATM that draws on OKI’s mechatronics technologies and market experience. Designed specifically to handle Euro banknotes, the new ATM has already passed the Article 6 test, becoming the first cash-recycling ATM provided by an Asia-based vendor to meet this requirement. ATMs must pass this test before deployment in Euro currency countries. OKI plans to market the product in the European market.

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Trustwave Validates PAYM8 As PCI DSS Compliant

Mobile commerce provider PAYM8 has been validated compliant with the Payment Card Industry
Data Security Standard (PCI DSS) through Trustwave information security and compliance solutions. PAYM8
had to demonstrate compliance by thoroughly reviewing its physical
access controls, IT environment and information security policies and
procedures. To maintain their compliance, PAYM8 has enrolled in
Trustwave’s on-demand compliance management solution, TrustKeeper to
access the necessary tools to support on-going compliance such as
quarterly network vulnerability scans. Trustwave is a provider of on-demand and subscription-based
information security and payment card industry compliance management
solutions to businesses and government entities throughout the world.

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PAYM8 PCI DSS

Mobile commerce and financial collections enablement
company PAYM8 has been validated compliant with the Payment Card Industry
Data Security Standard (PCI DSS). PAYM8 has become the third South
African company to achieve this standard. Trustwave, a leading provider
of information security and compliance solutions, performed the validation.
PAYM8 is a “Technology Enabling Company” providing Technology and
Financial Gateway Services to organizations for their Payments,
Collections and Mobile Commerce requirements. Using state of the art
technology in Visa and PCI certified environments, PAYM8 offers access
to their platforms with corresponding application and product expertise
enabling companies to offer M-commerce and Collection solutions branded
in their own name.

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VERIFONE & ORANGE LOGIC

E-payment solution provider VeriFone Holdings is acquiring
the assets of Orange Logic payment systems
provider. Orange Logic was founded in 2004 and has primarily been supplying
electronic payment devices to distinguished customers in the South
Korean retail and banking segments. Effective immediately, Orange Logic will operate as VeriFone Korea and
will continue to manufacture the existing Orange Logic product family.
VeriFone is now the only global payments solutions provider with a
physical presence in South Korea. With the acquisition, VeriFone gains the people and infrastructure to
introduce its secure electronic payment product line into the Republic
of Korea, and an existing domestic product line and customer base.
Although South Korea is second only to the U.S. market with more than
2.5 million deployed electronic payment systems, only 10%-15% of those
meet government security requirements for compliance with the
international EMV standard. Financial terms were not disclosed.

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MOODYS & GOLDEN CC TRUST

Moody’s Investors Service has assigned definitive ratings to the Senior and Subordinated Fixed Rate Series 2010-1 Notes and the Senior Floating Rate and Subordinated Fixed Rate Series 2010-2 Notes issued by Golden Credit Card Trust. The ratings are based on the quality of the underlying pool of credit
card receivables, the expertise of the seller/servicer, Royal Bank of Canada (Aaa/P-1), the transaction’s legal and structural protections, including early amortization triggers, and credit enhancement in the form of excess spread. For each of the Series 2010-1 and 2010-2 Notes, the Senior Notes constitute 95.5% of the total invested amount and are enhanced by the Subordinated Notes which constitute 4.5% of the total invested amount. For the Series 2010-2 Notes, the credit enhancement is sufficient for a fixed rate deal, as the floating interest rate exposure is managed with an interest rate swap, the counterparty for which is Royal Bank of Canada (Aaa/P-1). Moody’s expects performance in the range of 3.0%-4.0% for net charge-offs, 19.0%-22.0% for yield and 33.0%-39.0% for the payment rate. Moody’s performance expectations for a given variable indicate Moody’s forward-looking view of the likely range of performance over the medium term. From time to time, Moody’s may, if warranted, change these expectations. In rating Canadian Credit Card ABS, the payment rate, charge-off rate, purchase rate, yield and certain other inputs are used to calculate the median expected loss and the Aaa enhancement.

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