iPayment Sees 1Q/11 Revenue Up $100mm Y/Y

iPayment 1Q/11 revenues up to $169,613,000 from the year ago figure of $159,540,000. Revenues net of interchange was up to $78,884,000 from the year ago figure of $68,543,000 while net income was $7,562,000 for the first quarter of 2011 compared to $2,220,000 for the same period last year. iPayment provides credit and debit card payment processing services to small merchants across the United States which its payment processing services allows merchants to accept credit cards from VISA, MasterCard, American Express, Discover and Diners Club, as well other forms of electronic payments including debit cards, checks, gift cards and loyalty programs.

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PaymentVision Launches Payment Processing Gateway

PaymentVision launched its “3.0 Universal Payment Processing Gateway” (UPPG) to add a whole new dimension to payments by offering customers easier, faster and more secure processing. The next generation “Universal Payment Processing Gateway” solution offers BATCH CONTROL to control batch cut-offs; CARD TYPE FILTERING, allowing users to block all credit cards or only those that have been issued by a particular bank; CONTINUOUS SYNCHRONIZATION to keep all systems in-synch with collected payments; BANK ACCOUNT VERIFICATION with on-demand run mode for its Bank Account Verification service allowing users to selectively verify bank account status when scheduling a check or ACH payment in PaymentVision; and ON-DEMAND REPORTING for the ability to request batch history reports and itemized transaction lists.

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Total U.S. Retail Sales for April Up 8.8% Y/Y

MasterCard Advisors’ SpendingPulse macroeconomic report tracking national retail and service sales, provided summary results for April 2011, indicating retail sales grew by 8.8% year-over-year. Substantially higher growth than the average 7.1% year-to-year growth rate of the previous quarter, seasonally adjusted retail sales fell in April by 0.1% month-to-month, which may be more of an indication of fluctuating gas prices than the overall state of retail spend. Sectors showing positive results in April included eCommerce, Luxury, Apparel, Groceries and Travel, both in the Airlines and Lodging categories. Weaker segments included Furniture and Furnishings, Hardware, Electronics and Department Stores.

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Aperta Deploys Payment Processing for Austell

Parascript image analysis and pattern recognition technology provider announced Austell Gas System has implemented Aperta’s Visual Remittance and Payments Application (VRPA+), which incorporates Parascript’s check and form recognition software. The integrated solution allows Austell Gas System to automatically process payment stubs and checks, as well as charitable donations from customers electing to give one, three or five dollars on top of their bill to a local non-profit organization. Using the technology, Austell Gas System processes up to 5000 payments per day with recognition rates of over 90 percent. Aperta’s VRPA+ uses state-of-the-art document imaging technology to reduce the labor required to capture, correct, balance, and process checks and other payments with accompanying documents.

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LIVE GAMER AND SKRILL OFFER END-TO-END MONETIZATION ENGINE

Live Gamer total revenue solution for the interactive entertainment industry and Skrill have forged a preferred payments partnership creating a sophisticated, end-to-end monetization engine tailored for online game publishers. By seamlessly integrating Moneybookers’ secure, real-time payments platform with Live Gamer’s total commerce solution, Live Gamer Payments by Skrill offers game publishers and developers a one-stop solution for driving online revenues, maximizing user acquisition and retention, developing and managing digital item sales, increasing user engagement and much more. This gives publishers and developers instant access to new markets with over 100 payment methods in 200 countries and territories. The combined service offers a complete virtual economy management platform, including advanced merchandising tools and an industry-leading transactional analytics system.

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BILLMYPARENTS Anticipating Huge NATIONAL EXPOSURE

BillMyParents teen payment solutions brand offered by Socialwise announced its upcoming weekend of unprecedented brand exposure. In conjunction with BillMyParents’ “Spend Smart” card prepaid reloadable card kickoff, the national media rollout includes fully integrated broadcast, advertising and event programming on the ESPN and MTV television networks. BillMyParents reached millions of viewers this weekend on ESPN and continues its push on MTV tonight, spreading a simple and powerful message about the BillMyParents Spend Smart card. For use everywhere debit MasterCard is accepted, “Spend Smart” will be featured on ESPN with its first-ever national television commercial, integrated event-branding, digital advertising and multiple appearances during a 2-hour live ESPN broadcast of the first of four Street League Skateboarding Series events.

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LOGLOGIC ENHANCES PCI COMPLIANCE FOR VMWARE ENVIRONMENTS

LogLogic IT Data Management Company helps achieve a major requirement in PCI DSS in conjunction with VMware to ensure IT Data is collected from virtualized infrastructure. To help VMware customers achieve regulatory compliance faster, LogLogic also announces it will give away its MX-Virtual virtual appliance product to the first 100 VMware vShield and VMware vCenter Server customers who sign up at http://www.loglogic.com/vmware-offer. Additionally as part of this partnership, LogLogic will give qualifying VMware customers product at a very aggressive ‘no haggle’ price for a limited time. LogLogic also supports IT Data collection and reporting for a wide range of regulatory regimes: ISO 27002, HIPAA, COBIT, SOX, ITIL, FISMA and NERC. A rich reporting suite is available for each of these regulations.

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United Supermarkets Deploys Solutran POS Technology

Solutran announced United Supermarkets has completed implementation of its “SPIN” POS and Imaging Network solution for electronic check conversion. United Supermarket states the most valuable aspects of conversion have been the reduction of bank fees and saving time when processing and flagging bad checks. The “SPIN” POS has saved a broad spectrum of retail businesses more than 50 percent in check processing fees and can be implemented without up-front capital expenditures. Unlike traditional BOC (Back Office Conversion), the check imaging, archiving, and destruction services are outsourced to Solutran, and the MICR data capture saves costs by using existing infrastructure.

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PayNearMe Enables Cash Payments for International Top-up & Remittance

PayNearMe cash payment network announced its new service allowing consumers to pay cash for value remittance services, including international mobile top-up, bill pay and gift carding. Mobile operators and value remittance providers can work with PayNearMe to offer their prepaid mobile subscribers the ability to add minutes to their accounts at any one of the nearly 6,200 7-Eleven stores across the U.S. without the need for dedicated cards. Also, consumers in the U.S. can pay bills or load gift cards on behalf of friends or family members outside of the country. PayNearMe doesn’t require a dedicated in-store card for these transactions, which makes it easier for providers who do not currently have distribution in 7-Eleven stores. For the unbanked and those who prefer to pay with cash, PayNearMe delivers a convenient option to top-up an account anywhere in the world. ALl they have to do is go to a participating 7-Eleven store to pick up a free PayNearMe Card and text the card number to PayNearMe. They then present the card along with cash at the register and receive a customized receipt summarizing the transaction.

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Chase celebrates Small Business Week with incentives & solutions

To celebrate Small Business Week, Chase is offering small business customers $1,000 in incentives to expand their relationship during the week – and two exclusive eCommerce solutions to help run their businesses more effectively over the long run. These programs continue the momentum of Chase’s recent commitment to lend $12 billion to small businesses in 2011. Part of Chase’s strategy is to expand both its lending and deposit businesses through Small Business Week promotions such as the following $1,000 in savings, rebates and refunds:

New Business Checking account customers will receive $100 when they deposit $500 or more in their new account
Up to $250 off the origination fee for new loans/and annual fee for new loans/lines of credit originated this week
$200 cash back bonus for new Ink Rewards or Ink Bold credit card customers
$100 off cash bonus on Instant Storefront
Waived closing costs on owner occupied real estate loans, up to $250
$100 in credit for Google Adwords

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China Economic Index Up Full 1% in March

The Conference Board Leading Economic Index(LEI) for China increased 1.0% in March to 157.0 (2004 = 100), following a 0.3 percent increase in both February and January. Four of the six components contributed positively to the index in March. Meanwhile, the Conference Board Coincident Economic Index (CEI) for China was up 1.6% in March to 199.6 (2004 = 100), following a 0.3 percent increase in both February and January. Three of the five components contributed positively to the index in March. The Conference Board LEI for China aggregates six economic indicators that measure economic activity in China.

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