First Data & RSA Roll Out Security Pilot Program

First Data has rolled its new security pilot program. The
POS payment industry leader First Data and technology partner
RSA (The Security Division of EMC) are changing how
merchants secure and manage cardholder data. The collaboration combines
First Data’s leadership in payment processing, with more than 1.4
trillion transactions processed in 2008, and RSA’s industry leadership
in the security space. By embedding a layered combination of unique
security technologies from RSA seamlessly into merchants’ payment
processing infrastructure, the First Data TransArmor solution enables
payment card data to be safely removed from a merchant’s environment
while allowing access when needed. Other key advantages include: consistent applications across brick-and click
environments; dramatic cost and burden reductions for industry compliance;agnostic to hardware, card association and the
merchant acquire and shifts the burden of security from the merchant to the merchant acquirer.

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VeriFone Reports 1Q/10 Results up $10mm Y/Y

VeriFone Holdings secure electronic payment solutions disclosed its 4Q/09 net revenues for the three months ended January 31, 2010 of $223.4 million, compared to $217.8 million in net revenues in the previous quarter, and $214.0 million in the year ago period. Non-GAAP gross margins were 39.2% for the three months ended January 31, 2010, compared to 37.9% in the prior quarter, and 35.2% for the comparable period of 2009. During the quarter, VeriFone announced that it was the co-lead investor in Trunkbow International Holdings, China-based mobile payments and value-added service applications company, ot which it invested $5.0 million of the approximately $22.5 million raised, giving VeriFone a pro-forma fully diluted ownership stake of 8.6%. The transaction values the company at a post-money valuation of $65.0 million. Additionally, Trunkbow announced that VeriFone has been named the preferred supplier of payment systems technology to Trunkbow and has awarded VeriFone with an initial order to supply wireless payment solutions. VeriFone expects to report net revenues in the range of $225 million to $230 million in 2Q/10.

REVENUE HISTORICAL
4Q/06: $216.6 million
1Q/07: $217.2 million
2Q/07: $231.7 million
3Q/07: $237.9 million
4Q/07: $185.5 million
1Q/08: $233.0 million
2Q/08: $258.7 million
3Q/08: $244.7 million
4Q/08: $214.0 million
1Q/09: $201.6 million
2Q/09: $211.2 million
3Q/09: $217.8 million
4Q/09: $223.4 million
Source: CardData (www.carddata.com)

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CITI TAP&PAY

Edgar, Dunn & Company (EDC) independent payments consultancy has released its “Citi Tap and Pay mobile NFC proximity payments pilot – Bengaluru, Results & Findings” white paper. The white paper captures views, perspectives and conclusions on the Citi “Tap and Pay” pilot service launched in the city of Bengaluru in July 2009. With over 3000 customers, 250 merchant locations and nearly 50,000 purchases made, the white paper reported positive customer feedback on all key fundamentals such as customer interest, usage and satisfaction. The pilot was conceived by Citi Growth Ventures, and spearheaded by Citibank India, in collaboration with Nokia, Vodafone, MasterCard and ViVotech.

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IBC Deploys Online Resources Internet Bill Payment

International Bank of Commerce (IBC Bank) has signed a multi-year agreement to implement Online Resources Corporation’s “Internet” bill payment solution. IBC
Bank has been a client of Online Resources for remittance payment services since 2000 and chose to upgrade its bill payment services by converting to Online
Resources’ hosted solution. The hosted solution offers a bill payment user interface seamlessly integrated with the Bank’s online banking service. IBC Bank will
implement Online Resources’ next generation bill payment solution as well, which integrates usability, marketing and payments best practices. IBC Bank has $11.5
billion in assets while Online Resources provides web and phone-based financial services, electronic payments and marketing services to drive consumer adoption.

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ThreadX RTOS

Wincor-Nixdorf will be deploying the Express Logic “ThreadX RTOS” for its reverse vending machines (RVMs) . Wincor-Nixdorf’s reverse vending machines facilitate consumer returns of recyclable containers through advanced technology, which examine the shape and color of single bottles and cans, weigh them at the same time (full container recognition), and control the data logging and compacting mechanics all in a single, network-friendly device. Through automatic posting of the receipts to the POS system, retailers can ensure that an individual transaction receipt issued by the reverse vending system is only paid or credited once. This results in a significant reduction of inventory discrepancies. The “ThreadX RTOS” controls the real-time operational needs of the machine from bottle identification to final receipt.

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Invenstar POS Software Well Received at Expo

PBA Member Invenstar demonstrated its “TouchSuite Salon” all-in-one touch screen salon management POS system at Bronner Bros International Hair Show in Atlanta Feb 20-Feb 22. The “TouchSuite” all-in-one system and low price tag were well received, thanks to its software makes life easy with 3-touch booking, client management and marketing, texting, email, promotions, gift cards, credit cards, multiple renter accounts, product scanning and retail management and inventory reporting. TouchSuite “Salon” offers a full suite of business solutions and comes with complete hardware and TouchSuite Salon POS software.

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FRAUD PREVENTION

March is Fraud Prevention Month, for which Interac Association payment network is reminding Canadians to continue to practice debit card safety routinely. The company itself is transitioning to the latest generation of chip payment card technology. Chip technology will significantly reduce debit card skimming and the production of counterfeit cards. With this, Interac is encouraging consumers to shield their PIN with your hand or body; check statements; memorize the PIN; and to notify the issuing financial institution in the event of a lost/stolen card. Interac is recommending retailers treat PIN pads like cash and out-of-sight when not in use; monitor PIN pads for suspicion; surveillance cameras; exercise due diligence when hiring; and to remind customers to protect their PINs when entering.

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Discover U.S. Spending Monitor Up 2.3 Points in February

The Discover U.S. Spending Monitor was up 2.3 points to 87.5 this month, thanks to more optimism on the economy and increased discretionary spending. Although only 35% are currently concerned about additional expenses and their income changing in the month of March, there is little indication, however, consumers are planning to increase spending anytime soon with 57% intending to keep spending intentions flat. This, however, marks only the third month over the past 2 years this figure did not decline. With 49% expecting no additional expenses or income over the next month, 41% expect to spend the same in March as they did in February on discretionary items, a 4-point increase; 33% plan on spending the same as the prior month on home improvement purchases, also a 4-point increase; and 38% plan on spending the same on major purchases like a vacation, a 3-point increase. Still, 57% continue to rate the economy as poor; 46% felt the economy was deteriorating, a 3-point decrease from January; and only 29% felt economic conditions were improving, a 2-point increase from the prior month.

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ZOOMPASS

EnStream mobile commerce company has introduced its “Zoompass Tag” wireless payment device. The “Zoompass Tag” is designed in the form of a sticker that can be attached to a mobile phone, allowing consumers to tap their phones at checkout to make purchases at retail stores. The Zoompass mobile application is accessible on most mobile phones in Canada and can also be used to send money quickly and securely. Payment is automatically drawn from the user’s Zoompass stored value account, and remove the need for coins and cash. Moreover, the Zoompass Tag and Zoompass application allow consumers to monitor their purchase transactions in real-time.

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AmEx Awards Entrepreneur USD100k for 131% Y/Y Rev Increase

At the American Express OPEN Women’s Business Summit in Houston, “Count Me In for Women’s Economic Independence” named Sarah Stevens of Charlotte, NC the grand prize winner of the Make Mine a Million $ Business RACE (M3RACE) year-long business growth competition for women entrepreneurs. Her company, Stevens Technologies, achieved the greatest year-over-year increase in gross annual revenue by 131% to $1,544,262, while having increased the number of employees who have health benefits, 401k packages and paid leave from 12 in 2008 to 21 in 2009. Stevens is also to receive a year of marketing, advertising and media resources. The M3RACE national initiative is committed to helping post-start-up women entrepreneurs grow million-dollar enterprises and has empowered women to grow their entrepreneurial ventures, providing more than 75,000 women entrepreneurs nationwide with vital business growth resources.

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Pentagon Federal CU Launches Low APR Credit Card

Pentagon Federal Credit Union (PenFed) has introduced its “PenFed Promise Card,” offering no fees and a low rate for purchases. The “PenFed Promise Card” features a 7.49% introductory purchase APR for the first 36 months, then adjusted to a variable rate of Prime (currently 3.25%) plus 6.74%. Absolutely free of the standard industry fees that traditionally accompany most cards, the “PenFed Promise Card”charges no late fees, over-limit fees, balance transfer fees, cash advance fees, foreign transaction fees, returned check fees. Pentagon Federal Credit Union, established in 1935, has more than 950,000 members and assets in excess of $14.5 billion, and provides worldwide service to Army, Air Force, Coast Guard, Department of Defense, and Department of Homeland Security personnel.

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