VASCO Acquires Logico Smart Card Solutions

VASCO Data Security has acquired Vienna-based Logico Smart Card
Solutions, an authentication storage specialist with experience in smart
card based authentication. Logico is an established, privately-owned
company with customers in the
healthcare, manufacturing industry and government markets and technical
expertise in the smart card related password
security and PKI markets. Logico generated revenues of approximately
Euro 0.8 million in 2005. With the acquisition of Logico, VASCO expands
and strengthens its product line and position in the smart card enabled
password and PKI market for large, medium and small sized companies.

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American Bank Note Q1 Profits Leap 72%

NJ-based American Bank Note Holographics posted sales in the first quarter of $10.0 million, a 56% jump over 1Q/05. The increase was primarily driven by higher sales of its “HoloMag” product. Net income for the quarter was up 72% to $1.0 million. However, VISA’s recent decision to discontinue the use of the current version of “HoloMag” due to some minor technical glitches at certain POS terminals will impact second quarter performance, but the Company has increased production of the “VISA Dove” and “VISA Mini Dove” hologram that is now being specified on VISA-branded cards. ABNH says it is working with VISA’s authorized card manufacturers on the transition to these products. In the fourth quarter, the Company posted a net loss of $2.8 million due to a $5 million charge taken following VISA International’s “HoloMag” decision. For complete details on American Bank Note Holographics’ latest performance results, visit CardData ([www.carddata.com][1]) (CF Library 4/18/06)

ABNH NET INCOME HISTORICAL
1Q/05: $0.6 million
2Q/05: $0.5 million
3Q/05: $1.1 million
4Q/05: -$2.8 million
1Q/06: $1.0 million
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

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Hypercom Enters a New Market After SIBS Approval

Hypercom announced it is entering Portugal and commencing
product sales. The actions follow certification of the “Optimum P2100”
PIN entry payment device for use in the country by the Sociedade
Interbancaria de Servicos’ (SIBS). The first Hypercom Optimum product
for Portugal, the “P2100”, is a countertop unit that can handle payment
transactions, as well as gift and/or loyalty cards and other value-added
services. The company’s next two Optimum products for the Portuguese
banking and retail sectors are the “T2100” countertop and “M2100” mobile
payment terminals. The use of payment cards and terminals is escalating
rapidly throughout Portugal. The number of cards has jumped to 14.7
million from 2.4 million in 1990, with debit cards overtaking their
credit counterparts three to one. SIBS is the Interbank services
company in Portugal.

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IRS to Expand Credit Counseling Audits

The IRS yesterday reported that it has been auditing 63 credit counseling agencies. To date, the audits of 41 organizations, representing more than 40% of the revenue in the industry, have been completed. All of the completed audits have resulted in revocation, proposed revocation or other termination of tax-exempt status. The IRS also noted that it has also tightened up its review of new applications by credit counseling firms for tax-exempt status. Since 2003, about 100 applications have been reviewed but only three have been approved. The IRS is also sending compliance inquiries to each of the remaining 740 known tax-exempt credit counseling agencies not already under audit.

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USA Technologies’ Q1 Revenues Climb 44%

PA-based USA Technologies reported revenue of $1.6 million for the first three months of this year, an increase of 44% compared with the same period in 2005. Gross profit for the period was up 21% to $687,749. The Company says the strong revenue growth for the quarter came as a result of significant increases in sales of USAT’s “EnergyMiser” energy management solutions, “e-Port” for cashless transaction solutions, and the online “e-Suds” online laundry system. During the quarter, USAT launched the “e-Port Generation Six,” the world’s first cashless transaction solution for vending machines that integrates contactless card capability with the traditional swipe card process. The new product is currently undergoing marketplace trials by MasterCard in hundreds of vending locations across multiple US cities. For complete details on USA Technologies’ latest results, visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

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US Bank Intros Sportsman’s Warehouse VISA

U.S. Bank and Sportsman’s Warehouse have partnered to offer the “Sportsman’s Warehouse Rewards VISA Platinum” card, which offers three points for every $1 spent in net purchases at Sportsman’s Warehouse and one point for every $1 spent in net purchases elsewhere. New customers will receive a 1,000-point bonus when they make their first purchase. Specialty Rewards Certificates are redeemable towards outdoor merchandise and gear and clothing.

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Acies Lands a Sales and Marketing Expert

New York-based payment processor Acies Corporation has hired former Chase executive Harrison Fisher as its new SVP/Sales and Marketing. Previously while recently serving as Vice President in charge of Small Business in the East Coastal Market at JPMorgan Chase & Co., Fisher oversaw daily general and sales management, marketing, finance and overall operations of Small Business Banking for New Jersey, Florida and Staten Island, New York, and is credited for the successful turnaround of this market’s operations. Fisher is a graduate of Hofstra University where he earned a Bachelors degree in Business.

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Trintech Forms Financial Services Group

Trintech Group has announced the formation of its
“Financial Services Group”, which will provide next-generation account
reconciliation and enterprise-wide positive pay solutions to financial
institutions for the provision of the same to their small business,
middle market and large corporate clients. Trintech’s “Financial
Services Group” will provide consulting, design, implementation, service
and support to help organizations improve reconciliation processes,
strengthen internal controls, mitigate risk and increase compliance.

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