Western Union and 7-Eleven Ink Prepaid Card Agreement

Western Union global payments and 7-Eleven convenience retailer forged a prepaid agreement to offer consumers Western Union “MoneyWise General Purpose Reloadable” prepaid card at 7-Eleven store locations in 2012. The Western Union “MoneyWise Prepaid Card” will be a new service option for consumers who already purchase Western Union money orders at more than 6,000 U.S. 7-Eleven retail locations. The agreement also positions 7-Eleven as the largest retail seller of the Western Union MoneyWise prepaid reloadable card product in the U.S.

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Stein Mart Extends GE Capital Credit Card Program

Fashion retailer Stein Mart and GE Capital’s Retail Finance business hashed-out a multi-year renewal of their co-branded credit card program in Stein Mart’s 260 stores throughout the United States. Expanding on their relationship that began in 2006, GE Capital Retail Finance will continue to offer card programs that Stein Mart customers value, with exclusive savings and added convenience. Stein Mart stores offer brand name and designer fashions for women, men and home at savings of up to 60 percent off department store prices every day, presented in a department store environment.

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First Data Addresses Security Offering

First Data electronic commerce and payment processing shared highlights of its product solution set. Expanded with additions to its Consumer & Commercial Payments, Information & Analytics Solutions and Advanced Solutions & Innovation offerings for merchants and financial institutions, it includes “DefenseEdge” decisioning solution. It gives financial institutions (FIs) a more accurate measure of potential risk and the ability to identify fraud as it happens, reducing the number of false positives while offering a higher level of transaction security. Meanwhile, the “SpendTrend” Insights Fraud Analysis offers an ad hoc reporting tool that captures and analyzes transaction data to improve fraud trend identification within an FI’s portfolio, automatically alerts fraud trends, increases operational efficiencies and reduces fraud losses.

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BancVue & PayPal Deploy P2P Transfer

BancVue dynamic marketing and data-driven consulting solutions to community banks and credit unions around the country partnered PayPal to offer peer-to-peer money transfers. The “Send Money” will be available to community financial institutions in 2012 as part of BancVue’s planned online money management solution. The program will allow customers to securely and easily make payments to another person.

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Equifax Implements First Data Rating Solution

First Data electronic commerce and payment processing announced Equifax is set offer its ” Confidence Score” solution alternative scoring tool that provides access to hard-to-locate information on sub-prime, thin-file, and no credit score consumers. The First Data “Confidence Score” solution will help Equifax’s financial institution clients to identify new account applicants who have low credit scores or little credit history and to facilitate new account opening and review decisions. Each new account applicant is screened and assigned a score between 1 and 999.

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USA Technologies Moves Up POS Shipment Ranks

USA Technologies improved its ranking among the world’s leading shippers of POS terminals on the Nilson Report, on which it ranked 5th- up from 6th in 2008 and 2009. Nilson also ranked USA Technologies 19th in the world in 2010, up from 31st in 2009 and 34th in 2008. USA Technologies’ “ePort POS” system is supported by its ePort Connect service one-stop, turn-key system for wireless, unattended cashless payments and telemetry in the small ticket unattended space.

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Navy FCU Offers Free ATM Use

Navy Federal Credit Union provides its members and any family of those who serve in the military checking accounts that are free and can be used anywhere. In addition to 45,000 free ATMs worldwide, customers can also experience ATM rebates, unlimited transactions, and no monthly service fees. There is also no minimum balance requirement, and complete online services that allow members and the families of those in the military checking account access around the clock. For active men and women in the military, checking options expand to Active Duty Checking, which includes extra benefits such as free Traditional/Military wallet or wallet duplicate checks for the life of the account, unlimited check-writing privileges, and ATM fee rebates at Visa/PLUS System ATMs for up to $20 per statement period.

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Preston Todd advises Heartland Payment Acquisition

Preston Todd Advisors has advised Heartland Payment Systems payments processor in its acquisition of School-Link Technologies K-12 foodservice solutions and payments. Heartland Payment Systems is the fifth largest payments processor in the United States and delivers credit/debit/prepaid card processing, gift marketing and loyalty programs, payroll, check management and related business solutions to more than 250,000 business locations nationwide.

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Ground Labs to Demonstrate Cardholder Data Discovery

Ground Labs developer of security and auditing software solutions for the payment card industry, will be a sponsor of this year’s PCI SSC European Community Meeting. The PCI SSC Community Meetings provide an opportunity for industry stakeholders to learn from each other’s experience working with the PCI DSS. Participants also have opportunities to raise new ideas for future versions of the Standards and learn about best practices for protecting cardholder data as they interact with solution vendors and other service providers in the industry. Singapore-based Ground Labs is one of the international sponsors of the upcoming Community Meeting. The company’s flagship products, Card Recon and Enterprise Recon, perform cardholder data discovery to assist companies in identifying storage risks and help prevent security breaches that result in the theft of customers’ credit and debit card numbers.

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Planet Payment Appoints LatAm VP, Managing Director

Samia Bounaira has been appointed VP, Managing Director for Latin America with Planet Payment international payment processing services. She will manage the Company’s business development efforts and expanding its market reach in the strategically-significant Latin America region from Mexico City. Samia most recently was VP and Managing Director at Hypercom after holding a position as Sales Director of Mexico and Central America for Oberthur Technologies.

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Eufiserv POS Operations Underway

EUFISERV Payments announced the start of POS operations within the EUFISERV Card Scheme. This marks a significant milestone in the development of a new European Card Scheme as requested by the market and the European authorities, with POS functionality. It is a Chip & PIN based and fully SEPA compliant and compliant with European competition law. As of today the 45,000,000 EUFISERV cardholders of the German Savings Banks can make purchases at the 226,000 POS terminals managed by the EURO 6000 in Spain.

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