Wright Express 2Q/11 Revenue Up 55% Y/Y

Wright Express business payment processing and information management posted 2Q/11 total revenue up 55% to $141.3 million from the year ago period of $91.4 million. For the second quarter of 2011, the Company’s GAAP financial results include an unrealized $13.9 million dollar pre-tax, non-cash, mark-to-market gain on these instruments. See Exhibit 1 for a full reconciliation of adjusted net income. Highlights indicate the average number of vehicles serviced worldwide was approximately 6.3 million, an increase of 29% from the second quarter of 2010; total fuel transactions processed increased 19% from the second quarter of 2010 to 81.2 million; payment processing transactions increased 15% to 63.2 million; transaction processing transactions increased 34% to 18 million; average expenditure per domestic payment processing transaction increased 33% from the second quarter of 2010 to $74.91; and total corporate card purchase volume grew 83% to $1.9 billion, from $1.0 billion for the second quarter of 2010. With this, Wright Express expects a 3Q/11 revenue in the range of $145 million to $150 million and adjusted net income in the range of $35 million to $37 million, or $0.89 to $0.95 per diluted share while it expects a FY/11 revenue in the range of $550 million to $560 million and adjusted net income to be in the range of $136 million to $141 million, or $3.50 to $3.62 per diluted share.

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International Bancshares Implements Elan Financial Services

Elan Financial Services (Elan) agent credit card issuer has partnered with International Bancshares Corporation to offer an industry leading credit card program at its 278 locations throughout Texas and Oklahoma. With this, IBC cardholders benefit from a variety of credit card products with one percent cash back, merchandise, gift certificates, as well as great travel selections. Elan solution gives Business cardholders rewards for every dollar spent and have access to tools that help them track and manage their expenses, card servicing and marketing as well as branch support and sales incentives.

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Clairmail names New VP, engineering

Kaj van de Loo has been named the Clairmail mbanking and payment solution Vice President of Engineering. Kaj comes to Clairmail with extensive knowledge of the software industry and will head up the Clairmail engineering team to lead the development and quality assurance of the company’s international mobile banking and payments platform. Bringing with him 20 years’ experience in enterprise software at both startup and global technology companies, Kaj was most recently the Senior Vice President of Technology Strategy for SAP, driving technology innovation into products that create value for customers and the Vice President of Engineering at Questra.

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Redwood FCU Replaces ATMs with SDM-Equipped NCR Models

Redwood Credit Union of the San Francisco area is set to deploy NCR “SelfServ ATMs,” replacing its 30 currently installed machines, including 28 non-NCR ATMs. Twenty-nine of the new NCR SelfServ ATMs will include NCR’s Scalable Deposit Module (SDM) technology, the only technology on the market that allows consumers to deposit both cash and checks simultaneously in any orientation through a single slot. Designed for NCR SelfServ ATMs, this technology delivers a consumer deposit experience that is twice as fast as other ATMs, allowing for a typical consumer transaction of five bank notes and two checks to take less than 60 seconds to deposit. Additional features include self-healing technology; dual-roll receipt printers that ensure the ATM need never run out of paper; and graphical operator panels for easy fixes or resets.

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C-SAM m-Wallet to Support Isis Mobile Platform

C-SAM secure mobile transaction technology and Isis m-commerce forged agreements to license its wallet management platform and software development kit (SDK). This will let the partnership offer smartphone users a comprehensive mobile wallet for conducting secure near-field-communication (NFC) transactions related to payments, rewards, coupons, tickets, transit and other services. Isis is set to launch its mobile commerce program in Salt Lake City, Utah and Austin, Texas in the first half of 2012, giving its customers a highly secure and convenient way to pay, redeem coupons and store merchant loyalty cards.

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IronKey Chairman to Present on Crimeware

Dave Jevans, chairman of IronKey and the Anti-Phishing Working Group (APWG) , is set to address financial and operations executives from Jack Henry clients, the Silverlake User Group and Infragard Information Security, Infrastructure Protection, & Law Enforcement Conference at Kennesaw State University near Atlanta. Jevans will explain the increasing sophistication of financial malware and cyber criminals, as well as how online banking attacks work, why anti-virus software, firewalls and other conventional countermeasures are not stopping them and what needs to be done about it. Crimeware designed to takeover online banking accounts and steal money is now the most significant threat concerning U.S. banks. A staggering 25% of computers, according to latest reports from the Anti-Phishing Working Group (APWG), are infected with banking Trojans such as ZeuS and SpyEye and used by criminals to take over online bank accounts and steal millions from businesses and municipalities.

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Silicon Labs Combines Voice and M2M Connectivity

Silicon Laboratories high-performance, analog-intensive, mixed-signal ICs announced the next generation of its widely used Si24xx ISOmodem family, offering advanced voice features, lower power, reduced BOM costs and flexible interface options for a wide range of data modem applications. The innovative Si24xx data modem ICs address the need for voice and machine-to-machine (M2M) communications for security and home automation systems, smart utility meters, set-top boxes POS terminals and many other electronics systems that connect to the public switched telephone network (PSTN). Standard DTMF generation and detection and user-programmable tone detection and generation give the Si24xx family the flexibility to support non-standard custom protocols through host software.

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Payvment’s Social Promotion Tools See Quick Return

Sellers using the Payvment Facebook ecommerce platform and free storefront application typically see their first sale come less than three days after launching their store on Facebook. Payvment attributes the quick time to first transaction to the company’s social promotion and discovery features that enable sellers to attract new shoppers to their storefronts within and beyond their fan base. Payvment also announced that over 60,000 active storefronts are using Payvment’s social commerce platform, with approximately 400 new stores opening each day. Payvment also recently launched a new one-click “Promote” button that lets sellers easily share new products and deals with their fan base, and has since seen a 900% increase in products and deals shared each day.

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Harland Financial Sees Strong First Half with Self-Service Suite

For its uMonitor “uBanking” suite, Harland Financial Solutions has signed more than 30 new clients in 1H/11. Letting financial institutions offer online account opening and funding for deposits, consumer loans and mortgages, P2P payments, account transfers, account aggregation, “uBanking” lets banks customize these solutions with their brand and provide a unified experience across all delivery channels. Harland Financial Solutions, Inc. (www.harlandfinancialsolutions.com) supplies software and services to thousands of financial institutions of all sizes, offering its solutions in both an in-house and service bureau environment.

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Direct Capital launches Android app

Direct Capital nationwide provider of business financial services released its Android “FinanceQuote” mobile app. Allowing equipment and technology vendors to instantly quote monthly finance payments to their customers from a mobile device, the “FinanceQuote” app has also been updated and re-released for iPhone/iPad users. For vendors, it offers the option to create quotes based on a customer’s credit, save and view past quotes, and store information to make it easier to send out future quotes.

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IT Governance launches PCI DSS e-learning for staff awareness

IT Governance PCI and information security are reminding organizations that staff awareness of their company’s information security policy is a compulsory requirement of the PCI DSS standard with its newly-designed PCI DSS Online Staff Awareness course which. To help organisations train their staff for as little as GBP45 per single user licence, with bulk discounts available for larger numbers of learners, the PCI DSS Online Staff Awareness course will increase employees’ awareness of the PCI DSS requirements, and will provide clear and simple explanations of what companies and individual employees must do to meet the requirements of the recently released version (v2.0) of the standard.

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