Hayton Systems Chooses Precidia Solution

Precidia Technologies has announced that Hayton Systems has selected
Precidia’s “iPocket232”, an asset-tracking solution. Hayton’s hand-held
electronic computers will have the solution integrated to track assets such
as power supplies and circuit cards via transactions. This solution will
provide customers with real-time assets data from locations nationwide.
Precidia has customers in over 85 countries and offers products designed
for serial networking and manages IP based payments in the retail industry.

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Q Comm and Emida Technologies Merge

Salt Lake City-based Q Comm and CA-based Emida Technologies, both prepaid card specialists, have agreed to merge. The combination will result in a retail network of more than 21,000 prepaid points of sale in retail locations in 21 countries worldwide. They will have a combined annual dollar payment volume in excess of $456 million, processing more than 34 million prepaid transactions annually. The two companies will have an extensive presence in key regions of the Americas and the Caribbean. Following the closing of the merger, the new company, which will do business as “Emida.” Dennis Andrews, CEO of Emida will continue as CEO of the new company. Mike Keough, CEO of Q Comm, will become president of North America will have responsibility for the company’s operations in the USA and Canada. The merger is expected to close on or after July 10th.

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MBNA Canada Bank to Acquire CUETS

BofA’s MBNA Canada Bank has signed an agreement to acquire CUETS, the largest MasterCard credit card issuer for credit unions in Canada. MBNA Canada Bank is the second largest MasterCard issuer in Canada based on loans outstanding. CUETS is currently jointly owned by Credit Union Central of Saskatchewan and Credit Union Central Alberta. CUETS has about 500 relationships with credit unions in Canada. The new MBNA Canada subsidiary housing the CUETS business will be led by Stan Kuss, currently CEO of CUETS. CUETS’ 400 person workforce will be combined with the current MBNA workforce in Ottawa. Terms of the deal were not disclosed.

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S2K Enterprise to Add MX870 & RiTA

NY-based VAI has entered into an agreement with VeriFone Holdings, to integrate VeriFone’s “MX870” payment platform and RiTA Server payment transaction middleware into its “S2K Enterprise” for Retail Point-of-Sale software. VeriFone’s RiTA Server is a highly scalable transaction middleware that supports high-volume, multi-threaded transaction processing. Eliminating the need for a gateway solution, the RiTA Server can accept all major credit cards, support a range of processors and connection methods and process credit, debit, purchasing card, gift/loyalty and check transactions. This partnership is part of a larger strategic effort by VAI to increase the firm’s global reach to customers in the retail market. VAI is an IBM Premier Business Partner and software developer.

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Ceridian/Comdata is Going Private

Ceridian, which includes major payment processor Comdata, is going private following a merger deal with Thomas H. Lee Partners and Fidelity National Financial. The all cash transaction is valued at $5.3 billion. The deal represents a premium of 17% over Ceridian’s closing share price on February 12th, the last trading day prior to the public announcement that Ceridian had commenced the exploration of strategic alternatives. THL Partners and FNF expect to bring co-investors into the transaction. Ceridian is a major provider of human resources serving 25 million employees and 110,000 companies in 38 countries worldwide. Ceridian’s Comdata division is a processor and issuer of credit, debit and stored value cards, primarily for the trucking and retail industries in the USA. The deal is expected to close in the fourth quarter.

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INGENICO Ink Supplier Contract With CUP

INGENICO and China Unionpay(CUP) have signed agreements providing
that INGENICO will supply the network operator with electronic payment
terminals. Currently, 550 cash registers in Le Printemps in Paris already
accept CUP cards from Chinese tourists thanks to the integrated solution.
China Unionpay accounts for nearly 50% of all payment terminal purchases
in China and has 175 member institutions. With over one billion cards,
China’s electronic payment market is rapidly expanding.

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FTC Issues a Slip Showing? Alert

The FTC has issued the “Slip Showing?” alert to remind businesses that electronically processed credit card receipts are to include no more than the last five digits of the card number and to delete the expiration date. The law applies only to electronically printed receipts, not to handwritten or imprinted ones, and it applies to the receipts the customer is given, not to the receipts the businesses retain for their own records. Congress passed the Fair and Accurate Credit Transaction Act to minimize the amount of personal identifying information on credit receipts. The business alert advises that merchants who fail to comply with the law could face FTC law enforcement action, including financial penalties and federally-enforced restrictions or requirements.

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SAF-T-PAY Promotes Carrillo to VP

SAF-T-PAY announced that Roberto Carrillo, previously GM of SAF-T-PAY in Peru, has been named VP of Latin America and Caribbean operations. Carrillo is leading negotiations to integrate SAF-T-PAY’s secure e-payment solution with major banks and other financial institutions in Chile, Argentina, Colombia and Peru. His professional background includes positions as Founding General Manager of Visanet Peru, Regional President of Western Union Financial Services with responsibility for Latin America and the Caribbean, and Regional Vice-president of American Express Mexico and Latin America where he held responsibilities in the financial services and banking industries and currently holds the positions of Partner with SalaFinanciera.com and Director with Strategic Management Group, Lima. Carillo received a degree in Economics from Universidad del Pacífico in Lima and completed graduate studies in Economics at the Virginia Polytechnic University, Blacksburg. SAF-T-PAY is a secure e-payment system that allows online bank customers to make online purchases worldwide directly through their local bank.

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$200B Transactions Not PCI Compliant

ExaProtect calculates that over $200 billion in consumer and business credit card transactions made during 2007 will not meet the PCI data security standards. Despite moves by the PCI Security Standards Council to encourage larger retailers and other organizations to demonstrate compliance with its 12-point Data Security Standard, half of the world’s largest merchants are not yet compliant and many retailers do not have a timetable for achieving compliance in place before the anticipated June 2007 deadline. The world’s largest retailers and merchants take over 1.5 billion credit card transactions annually. VISA has 230 merchants that each process over 6 million transactions per year, with similar data from rivals but less than half can demonstrate PCI compliance. ExaProtect is a provider of information security.

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Chase Beefs-Up its Sheetz blink MC

PA-based convenience store chain Sheetz has teamed with Chase to launch an enhanced “Sheetz MasterCard with blink.” The enhancement is a more robust “Sheetz Rewards” program. Under the new program cardholders receive a 10% rebate on all Sheetz purchases and a 2% rebate for all other purchases for the first 90 days the account is open. Thereafter, a 3% rebate on all Sheetz purchases; 2% on groceries, travel and dining purchases; and 1% on all other eligible purchases. The rebates can be redeemed for $25 gift cards from various retailers. In May 2005, the “Sheetz MasterCard” became the first co-branded credit card to feature “blink,” Chase’s contactless payment option. Sheetz operates 330 stores throughout Pennsylvania, West Virginia, Maryland, Virginia, Ohio and North Carolina. (CF Library 5/27/05)

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TRM Potentially Grinding to a Halt

OR-based TRM confirms that its auditors have raised a question about the Company’s ability to continue as a going concern. PricewaterhouseCoopers noted that last year’s net loss resulted in the Company’s inability to meet its financing agreements and it does not expect to meet the required financial covenants this year as well. During January, the Company sold its Canadian, United Kingdom and German ATM businesses and its U.S. photocopy business and used the proceeds to pay some of its loans. On May 15th the Company signed waivers on its financing agreement with the primary lender. Last week TRM announced that COO Richard Stern will take over as President and CEO effective June 15th, replacing CEO Jeffrey Brotman. Brotman will remain with the Company as non-executive Chairman. TRM also reported that fourth quarter revenue declined to $24.9 million, compared to $29.8 million for 4Q/05. In January 2006 TRM engaged Allen & Company to explore strategic alternatives to enhance shareholder value. (CF Library 1/18/06; 5/23/07)

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