USA Technologies To Raise $10.7mm In Common Stock

USA Technologies wireless, non-cash transaction network has signed a securities purchase agreement with institutional investors to purchase $10.7 million of common stock in a private placement. Under the terms of the transaction, the Company has agreed to sell an aggregate of 5,200,000 shares of its common stock at $2.064 per share and warrants to purchase up to 3,900,000 additional shares in the aggregate of its common stock. The warrants will be exercisable commencing on the 6 month and 1 day anniversary of the closing date at an exercise price of $2.6058 per share and will have a five-year term commencing on the initial exercisability date. The completion of the offering is subject to the satisfaction of customary closing conditions and is expected to close on or before March 24, 2011.

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8 Million Credit Card Accounts Inactive

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] There are currently eight million inactive credit card accounts in the U.S. today thanks to a 24.6% slide in U.S. credit card delinquency rates, mostly in the “high risk” category. However, consumers with higher incomes were just as likely as consumers with lower incomes to suspend their use of this payment…

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Card Rates headed Upward Once Again

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Lately, rate reductions are mostly only seen by consumers who have a higher than normal interest rate on the card, but have built a better credit history. As time goes on and cardholders remain in a positive credit position, subsequent decreases are rare. But any losses that banks may sustain in…

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2Checkout Expands International Reach, Adds 13 Currencies

2Checkout.com has added an additional 13 international currencies, for a total of 30 supported currencies, to its safe, secure, and convenient hosted payments platform.The newly added currencies include the Singapore Dollar, Russian Ruble, and Ukrainian Hryvnia. This expansion will help provide merchants with greater access to well-established and developing markets while consumers in these markets will now be able to pay comfortably and secure in the knowledge that the final price they see will be the price they pay.

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Amazon.com Tops Millward Brown Ranking Globally and in the U.S.

Millward Brown brand, media and communications research, released a report entitled “Value-D: Balancing Desire and Price for Brand Success,” revealing that only seven percent of consumers truly buy based on price alone. The report ranked the top global brands. led by Amazon.com, based on how consumers perceive the value of the brand and the cost associated with it and found that Amazon.com led the Value-D ranking both globally and in the U.S. The Value-D report also found that 81 percent of consumers regard brand as an important reason to purchase. The Top 10 Global Value-D Brands are dominated by those that are categorized as “Great Value” and “Justified Premium.” “Great Value” brands combine high desirability scores with price scores that indicate consumers feel the brand is priced less expensively or reasonably.

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WorldPay & RSA Supports Cardholder Verification

WorldPay payment service providers is collaborating with RSA to support the cardholder verification processes in the US and UK when RSA provides RSA Adaptive Authentication for eCommerce authentication services for major card associations. RSA is planning to incorporate technology from WorldPay to help verify hundreds of thousands of online payment card transactions on a daily basis. RSA now incorporates the WorldPay Risk Guardian platform, one of the leading ecommerce platforms in the industry, to help it process card owner verification checks. The WorldPay Risk Guardian platform is also assisting RSA during registration of cardholders in the Adaptive Authentication for eCommerce Secure program, allowing consumers to register their payment card details in a secure environment before cardholder identity is checked with the individual’s bank.

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Ground Labs Launches Cardholder Data Discovery

Ground Labs security and auditing software for PCI introduced native support for “FreeBSD” within its cardholder data discovery products for PCI compliance. Ground Labs’ “Card Recon” and “Enterprise Recon” previously supported only Windows, Linux, Solaris, AIX and HPUX. But “Card Recon” can now be used on “FreeBSD” systems to perform accurate cardholder data discovery scans while “Enterprise Recon” users will also benefit now that “Enterprise Recon Node Agents” can be deployed on remote “FreeBSD” systems within larger environments. This provides centralised monitoring and visibility of PCI compliant cardholder data storage practices.

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Micropross Launches Testing Tools for VHBR Contactless

Micropross has made available testing tools to support the latest VHBR (Very High Bit Rates) contactless technology for smart cards. Its latest generation of contactless testers is able to communicate and spy a VHBR communication, at speeds up to 6.8 Mbit/s (maximum bit rate specified according to ISO/IEC 14443 today is 848 kbit/s). Micropross used contactless high-security controllers of the semiconductor manufacturer Infineon Technologies to demonstrate the 6.8Mbit/s capabilities of its readers. Micropross specializes in supporting innovation in the smartcard industry with its test equipment.

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Broadridge Provides Bank Smart Fund Facts

Broadridge Financial Solutions has started a multi-year initiative to use its “Smart Fund Facts” solution for the automated creation of regulatory POS “Fund Facts” documents. The “Smart Fund Facts” solution will create Fund Facts documents for mutual funds through an automated document creation process, for which customized templates will be utilized to create black-lined and final version documents suitable for print, web-viewing and e-delivery. The “Smart Fund Facts” will be integrated into Broadridge’s Smart Prospectus service which will then provide an end-to-end fulfillment solution.

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Barclaycard acquires Egg Credit Card Folio

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Barclaycard plans to purchase Egg’s customer portfolio, which includes more than one million accounts with a credit value of GBP2.3bn, for which completion is expected by the end of June. Egg customers who carry the green Egg card, qualified for special rewards and interest rates prior to the buyout. Rewards such…

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