People’s Choice Discover Card Unveiled

FL-based nFinanSe has unveiled its “People’s Choice” line of instant issue “nFinanSe Discover Network Gift Cards.” The cards have English or Spanish packaging as well as English or Spanish speaking customer service agents. nFinanSe launched its line of instant issue cards earlier this month, which will be sold at retail locations. Its features will include instantly issued Discover Network cards for immediate use, a $5.95 suggested retail price, $2.95 monthly fee, free first load, no hidden transaction fees or gimmicks and are reloadable at 80,000 nFinanSe Network locations. (CF Library 2/8/07)

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AmEx Promotes Women Entrepreneurs

Eight women entrepreneurs in the American Express OPEN “Make Mine a $Million Business” program will be on hand at the “Make Mine a $Million Business” event at the Women’s Congress in Boston on March 29 to share their success stories and inspire others. The eight women entrepreneurs who now own million-dollar enterprises are Maureen Borzacchiello, president of Creative Display Solutions; Dr. Amelia Case founder of Universal Health Institute, Amelia Moran Ceja, president of Ceja Vineyards; Melinda Earl, majority partner of StoneImpressions; Gina Stern, of Newark, NJ, president of d_parture spa; Dawn Stokes CEO of The Texas Driving Experience; Sandi Webster, principal of Consultants 2 Go and Kris Wittenberg, founder and president of SayNoMore! Promotions In the US economy, women own 10.4 million businesses, but only 3% generate more than $1 million in revenues. Make Mine a $Million Business is a program of Count Me In for Women’s Economic Independence, a not-for-profit organization, and Founding Partner OPEN from American Express. It is the only national initiative committed to the growth needs of post-start-up, women-owned businesses with less than $1 million in annual revenues.

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CO-OP Introduces ATMContent Manager

Co-Op Financial has introduced the “CO-OP ATMContent Manager,” a web- based ATM screen messaging management system. “ATMContent Manager” give autonomy to credit unions to change ATM messages in-house and not interrupt processing. “ATMContent Manager” was developed through a partnership with TEKchand LLC, a Chicago-based ATM Software and Solution provider. CO-OP Financial Services network consists of more than 25,000 surcharge-free ATMs.

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FDC to Exit Check and MO Business

First Data this morning announced it has decided to gradually exit its “Official Check” and “Money Order” business. The decision followed a strategic review. The wind-down is expected to free up between $250-$300 million in cash. The revenue for the business is primarily driven by investments in long-term securities. Over the next four to six months, FDC will convert most long-term instruments into more liquid instruments of shorter duration. FDC will serve existing clients through the end of their respective contract terms but expiring contracts will not be renewed on a long-term basis. Client contracts representing approximately 60% of portfolio balances will expire in the next two years.

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MedCom 4Q/06 Income Drops by 27%

MedCom USA has reported improved financial and operating results for the second quarter ending December 31, 2006, showing significantly higher gross margins, substantially lower operating expenses and another quarter in a row of positive EBITDA. Net revenue for the second quarter was $1,467,904 as compared to $2,018,738 for the comparable period last year, a decrease of 27%. For the six months ending December 31, 2006, net revenue was $3,068,496 as compared to $4,127,068 for the comparable period last year. This is a decrease of 26%. Net loss for the first six months of Fiscal Year 2007 declined by 69% to $868,240, or $0.01 per diluted share, compared to a net loss of $2,788,012, or $0.05 per diluted share in the same period last year. MedCom USA provides healthcare and financial transaction solutions for electronically processing HIPAA compliant transactions within the healthcare industry.

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Experian Settles Again on Free Reports

The Federal Trade Commission and Experian Consumer Direct have reached a settlement in a dispute over the marketing of free credit reports. The FTC says the “free credit report” offer failed to disclose adequately that consumers who signed up would be automatically enrolled in a credit-monitoring program and charged $79.95. The FTC alleged that the failure to clearly disclose the enrollment and charges violated a previous settlement. Consumerinfo.com, doing business as Experian Consumer Direct, agreed to pay $300,000 to settle the charges. In August 2005, Consumerinfo.com, paid $950,000 to settle FTC charges that it deceptively marketed “free credit reports.”

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AlertSite and Sunera Team for PCI

FL-based AlertSite has partnered with FL-based Sunera to provide a complete PCI compliance and security scanning solution enabling merchants and credit card service providers to achieve and maintain PCI compliance. The PCI compliance and security scanning solution provides confidentiality, integrity and availability of cardholder data while minimizing the impact on business operations. Sunera offers enhanced PCI compliance. AlertSite is a leading provider of web performance measurement, systems monitoring and security vulnerability scanning products and services. Sunera is a provider of risk and controls consulting services.

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TJX Finds More Payment Card Data Intrusions

MA-based TJX Companies says the 2006 security breach that opened millions of cardholder personal data to outsiders may also have been intruded upon in July 2005 and on various subsequent dates in 2005. TJX also has found additional drivers’ license numbers together with related names and addresses that it believes were recently compromised. This information was associated with unreceipted merchandise returns at its T.J. Maxx, Marshalls, and HomeGoods stores in the U.S. and Puerto Rico for the last four months of 2003 and May and June 2004. In addition to the customer data the Company previously reported as compromised, the Company now believes that information regarding portions of the credit and debit card transactions at its U.S., Puerto Rican and Canadian stores (excluding debit card transactions with cards issued by Canadian banks) from January 2003 through June 2004 was compromised. The Company had previously reported that the 2003 transaction data had potentially been accessed. For most of the transactions from September 2003 through June 2004, some of the card information was masked at the time of the transaction, making that portion unavailable to the intruder. TJX took a charge of approximately $5 million for costs incurred due to the recent security intrusion in the fourth quarter, which includes costs incurred to investigate and contain the intrusion, enhance computer security and systems, and communicate with customers, as well as technical, legal, and other fees. Beyond this charge, TJX does not yet have enough information to reasonably estimate losses it may incur arising from this intrusion, including exposure to credit and debit card companies and banks, exposure in various legal proceedings that are pending or may arise, and related fees and expenses, and other potential liabilities, costs and expenses.

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Cash Systems Inks a Big Casino Contract

Las Vegas-based Cash Systems has entered into a new multi-year contract with Canterbury Park Racetrack and Card Club where Cash Systems will provide its full line of cash access services including “all-in-1atm” services, an ATM with multifunction capability, “casinopc” for cash advance services that offers the full range of services for processing and completing transactions at the casino cage, all residing on one system, “ecash” checking and “full service booth operation” which allows the gaming establishment to hand off all the responsibility for completing financial transactions within the gaming facility to Cash Systems. This is a turn key solution for the gaming facility and off loads the risk and responsibility for all financial transactions conducted in the gaming facility.

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