Omgeo Updates Collateral Management

Omgeo made available new functionality on Omgeo ProtoColl, its automated collateral management solution. The new version of ProtoColl has been developed to help market participants manage their collateral and risk management operations ahead of the implementation of complex regulatory requirements for over-the-counter (OTC) derivatives clearing. The newest ProtoColl enhancements, available in version 7.5, provide market participants with a single, holistic view of their collateral exposures across bilateral and centrally cleared (CCP) OTC derivatives trades, as well as exchange traded derivatives and other collateral-related transactions such as repurchase agreements and securities lending activities. Users can manage the entire collateral life-cycle with ProtoColl, allowing them to execute robust counterparty risk management procedures and demonstrate the results to regulators and investors.

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GLASS LEWIS RECCOMENDS USA TECH REELECTS BOARD

USA Technologies wireless, cashless payment and M2M telemetry solutions for self’serve, small’ticket retailing industries, announced that Glass Lewis & Co. (“Glass Lewis”), one of the nation’s leading proxy advisory firms, has recommended that USA Technologies’ shareholders vote FOR all nine director nominees on the WHITE proxy card at USA Technologies’ 2012 Annual Meeting of Shareholders to be held on Thursday, June 28, 2012. In its June 14, 2012 report, Glass Lewis lauded USA Technologies’ progress, particularly in the areas of governance, EBITDA turnaround, and LTM revenue growth. The report further noted 1Q/12 being the first full quarter that Mr. Herbert has served as CEO, the Company recorded a positive quarterly EBITDA of approximately $253,000, an improvement over the negative quarterly EBITDA figures recorded by the Company over the prior four quarters. In response to the Glass Lewis report, USAT was extremely pleased that Glass Lewis supports the election of all of USAT’s highly-qualified and experienced director nominees.

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Economic Index Falls

The Conference Board Leading Economic Index® (LEI) for France declined 0.1 percent and The Conference Board Coincident Economic Index® (CEI) remained unchanged in April. The Conference Board LEI for France decreased in April after two consecutive increases, as negative contributions from production expectations and stock prices more than offset positive contributions from the yield spread and new unemployment claims (inverted). In the six-month period ending April 2012, the leading economic index increased by 1.0 percent (about a 2.0 percent annual rate), a reversal from the 0.6 percent decrease (about a -1.2 percent annual rate) in the previous six months. However, the weaknesses among the leading indicators remain slightly more widespread than the strengths. The Conference Board CEI for France, a measure of current economic activity, remained unchanged in April. Between October 2011 and April 2012, the coincident economic index decreased by 0.1 percent (about a -0.2 percent annual rate), a reversal from the 0.2 percent increase (about a 0.4 percent annual rate) during the previous six months. The strengths and weaknesses among the coincident indicators have become balanced in recent months. Meanwhile, real GDP grew at a 0.2 percent annual rate during the first quarter of 2012, slightly slower than the 0.3 percent annual rate of growth in the fourth quarter of 2011.

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T24 Black VISA Card Best Intl Prepaid Card

The T24 Black VISA Prepaid Card provided by Transact24 Limited, has won the Best International Prepaid Card category at the 2012 Prepaid365 Awards. It denominated in USD for its clients with Travel/Medical insurance and Priority Pass as an added benefit, and the cardholder is well-accommodated with high load limits. The T24 Black card automatically provides Travel/Medical insurance cover of up to US$ 1,000,000 when flight tickets are purchased with the card. The T24 Black VISA Prepaid Card can be used anywhere in the world where the VISA Acceptance Mark is displayed.

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Fujitsu and Tidel Integrate PalmSecure

Fujitsu Frontech North America Inc. (FFNA), a leader in innovative technology and front-end solutions, and Tidel Engineering, L.P. a global leader in intelligent cash management solutions, today announced the full integration of Fujitsu’s PalmSecure biometric authentication solution into Tidel’s Revolution® series of “Closed Loop System” cash automation products. The Fujitsu PalmSecure sensor uses a near-infrared light to capture a user’s palm vein pattern, generating a unique biometric template that is matched against the palm vein patterns of pre-registered users. Unlike other readers, a PalmSecure device does not come into contact with the skin, making it extremely hygienic, non-intrusive and unrestricted by external factors such as skin types and conditions.

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Bank of America Launches iPad App

Bank of America Merrill Lynch has introduced its “Paymode-X” iPad application for its clients utilizing the all-digital online payment and invoicing system. This offers real-time access to critical corporate payments information and allows users to stay connected and informed, make decisions, and take the actions needed to ensure that their payment and settlement cycles continue to flow smoothly. The iPad release is the most recent innovation for Paymode-X, and is the first phase of a comprehensive set of mobile capabilities that BofA Merrill, in collaboration with Bottomline Technologies, plans to bring to market. The “Paymode-X” solution combines electronic purchase order submission, invoicing and payment settlement on a single platform.

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Payvision Partners ProPay on Merchant Acquiring

Payvision, independent Payment Solutions Provider, specialized in Global Card Processing for the e-Commerce market announces that it has engaged in a fully integrated partnership with ProPay, Utah based industry leader in merchant services and End-to-End Payment Security and recipient of the prestigious 2010 ETA ISO of the Year award. Payvision provides ProPay’s customers with one fully integrated solution, through which clients can establish merchant accounts in Europe, Asia and the USA. Truly Domestic Global Acquiring in virtually any currency, authorization in 150+ currencies and card settlement in 25 Currencies. By processing transactions in those regions where cards are issued, cross-border and interchange costs are considerably reduced.

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Upromise Launches Card Rewards, Offers 10%+ Cash Back for College

Sallie Mae’s new Upromise World MasterCard, now issued by Barclaycard US, launched its new credit card rewards with increased cash back for college. It provides 5% cash back for college on eligible online purchases at hundreds of major online retailers through Upromise.com; 4% cash back at thousands of Upromise Dining restaurants; Up to 3% cash back on eligible gas purchases at Exxon or Mobil locations; 2% cash back at eligible movie theaters; and 1% on everything else. There is no annual fee for the card, no cap on earnings and no minimum spend requirements. Upromise members can earn 5 percent or more cash back for college when they make eligible online purchases through Upromise. Coupled with the new benefits of the Upromise World MasterCard, new cardholders can earn a total of 10 percent or more cash back on those same purchases.

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Citizens Bank Implements Western Union

Citizens Bank will now offer Western Union global money transfer and expedited bill payment services across all of its 219 branches in Michigan, Ohio and Wisconsin. Western Union’s services will be introduced over the next several months and will allow Citizens Bank’s account holders and walk-in consumers to send and receive domestic or international money transfers and make urgent payments conveniently and quickly to an extensive biller network.

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