Moneygram International Forges Recapitalization Agreement

MoneyGram International global payment services has entered into a recapitalization agreement with affiliates of Thomas H. Lee Partners to convert all of their Series B Preferred into common stock in accordance with the terms of the Series B Preferred, and Goldman Sachs will convert all of its Series B-1 Preferred into shares of Series D Participating Convertible Preferred Stock. The Recapitalization Agreement provides that THL and its co-investors will receive approximately 28.2 million additional shares of common stock and $140.8 million in cash, and Goldman Sachs will receive approximately 15,504 additional shares of Series D Preferred (equivalent to 15.5 million shares of common stock) and $77.5 million in cash as consideration for completing the recapitalization transaction. In addition, the Company is currently working with certain of its relationship banks to put in place a new senior secured credit facility comprised of a revolver and a term loan, which would refinance the Company’s existing senior secured credit facility and provide the funding for the recapitalization transaction.

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MasterCard Launches Global Fraud Prediction

MasterCard Worldwide is introducing the “Expert Monitoring Compromised Account Service” to issuing banks as an addition to its suite of Expert Monitoring Solutions. Offering next-generation fraud detection and prevention capabilities that help issuers reduce their fraud-related costs, “Expert Monitoring Compromised Account Service” offers a comprehensive, real-time view of Account Data Compromise fraud risk during authorization with an ADC Threat Score that predicts the likelihood that fraud will occur on accounts exposed to Account Data Compromise events. It evaluates transaction information for the exposed accounts, merchants at which the cards transacted, confirmed fraud on exposed accounts, and behavior of similar accounts with common Account Data Compromise exposures. Using this information, it predicts the probability of fraud over the coming 7 to 14 days”helping issuers to determine when, or if, to close the exposed account and re-issue a new account number to the cardholder.

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BOK Financial Deploys FIS’ Account Starter

BOK Financial has completed the first phase of its deployment of FIS’ “TouchPoint” solution. The “TouchPoint” System will support sales and account opening, teller operations, and maintenance functions ‘ all through a single integrated application. BOK Financial selected TouchPoint to deepen existing client relationships and add new customers, as well as reduce courier costs and front- and back-office expenses. TouchPoint makes this possible by providing an automated solution that features a total customer view with contact history, account relationships, current work in progress and cross-sell opportunities that can be tailored to fit each customer. The TouchPoint’s Teller module automates all monetary transactions, compliance requirements and administrative functions. In addition, the bank will realize significant cost savings as TouchPoint is pre-integrated with the bank’s existing core processing platform, FIS’ Systematics.

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ChargeSmart Appoints VP, Payment Solutions

Andrew Waskey has been appointed VP, payment solutions with ChargeSmart convenience fee-based card acceptance for organizations. To the role, Andrew will bring more than 12 years’ experience and will lead strategic planning to foster further growth of the company by identifying and implementing existing and new business-to-business customer and alliance partner relationships. He was also vice president of sales and marketing for Dalcom Consulting, where he developed and executed a marketing plan to increase brand awareness and drive new business; manager of business development for Payment Processing Inc., where he actively recruited software companies to meet business growth goals; and has served as director of business development at Global Payments as a relationship manager and unit manager before being promoted to an executive level.

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HID Global Delivers Gift Card Issuance Project

HID Global has introduced a pilot digital gift card issuance project at two Korean-based Home plus and Shinsegae E-mart with its “FARGO HDP5000” high-definition printer/encoders. With the HDP5000, the two retailers can now brand and customize gift cards for corporate customers and individuals, adding a level of personalization not available with conventional paper gift vouchers. The digital issuance of cards enables individuals and companies to create custom card designs using their own images, logos, personalized messages and other branding on the card.

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PayPal Deploys Service For Domino Online Payment

Domino’s pizza delivery has implemented PayPal for its online delivery service. Customers in the UK simply need to log in to their PayPal account once they’ve placed their pizza order, enabling them to pay just by entering their email address and password. PayPal is free to use on all Domino’s orders and is a great way for people to buy pizza for friends and family too – perfect if you’ve mouths to feed who are away at university or even if you just fancy treating someone to dinner. Domino’s link up with PayPal will be communicated to pizza lovers and PayPal users through a range of digital platforms including social media, email and online advertisements.

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FinArch Implements Liquidity Risk Solutions

Financial Architects (FinArch), will deliver its Liquidity Risk Calculation and Reporting solution as a global platform to one of the largest banks in the world with its “Financial Studio.” This provides the bank a common data architecture in which to store, manage and enrich data from all parts of the business. Data is enriched through a sequence of calculators, addressing Valuations and Cash Flow Analysis, Liquidity Risk Analysis – Gap Analysis, Concentration Risk and Ratio Monitoring. FinArch’s Simulation Engine caters for the up and coming stresses to be prescribed by the multiple regulators as the bank can stress their Liquidity Risk measures across multiple business scenarios.

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Metro Bank & Trusteer Rapport Launch Banking and Security

Metro Bank has enlisted the Trusteer Rapport secure browsing service to ensure its customers are protected and secure in their online transactions with the bank. Having experienced exponential growth since its launch in July, a key consideration in Metro Bank’s selection of Trusteer is that it is a proven security technology that can scale in a rapid growth environment moving from protecting a several thousand customers one day to millions the next. Metro Bank has the perfect opportunity to benefit from the latest technology and business practice. One such area is online banking where it believes it is important not only to secure customers accessing their bank accounts online, but also when they spend online on other websites, with the mindset that providing adequate protection for all of its customers’ online financial transactions is paramount. Trusteer specializes in Secure Web Access services.

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Oberthur & Caisse d’Epargne Launch New Payment Card

Oberthur Technologies security and identification solutions and services based on smart card technologies marked International Women’s Day along side Caisse d’Epargne with the launch of two brand-new coloured core designs for their payment cards. The Caisse d’Epargne gave complete freedom to a well-known French designer to create the visuals, featuring refined and highly creative spirit, which is further enhanced with Smart Vibrant esthetic qualities. This ultimately replaces the standard white plastic used in card production with an almost limitless range of plastic colors.

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Access to Money Hires North Eastern Region Director

Joe Maneen Jr has been appointed with Access to Money non-bank ATM operator to increase its national credit union and bank sales efforts after having joined the Company on March 1. In his role, he will produce new bank and credit union customers and establish branding partnerships for its off-premise portfolio. Maneen has been focused on sales, pricing strategies, and contract negotiations for over twenty years primarily in the banking industry, the past ten of which he has held various positions with Wincor Nixdor. Most recently as the VP, Channels, with Wincor Nixdor, he was responsible for the overall management of the U.S. Banking Reseller Channel and Tier III Direct Sales Organization. Maneen holds a BS in Psychology from Union College, Schenectady, New York.

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PayBox Complies With Verizon PCI-DSS Standards

PAYBOX Services payment technology selected Verizon Business to ensure compliance with PCI DSS international payment card industry data-security standards. Its virtual electronic and card present payment services provides payment solutions and services in more than 40 countries, processing around 8 million payment transactions every month. The secure virtual electronic payment terminal is designed specifically to support e-commerce transactions and processes electronic payments from call and data input centers, WAP and i-mode, interactive voice servers and e-commerce sites. For it, Verizon Business’ professional security services lends its audit, management and implementation services to help PAYBOX renew its PCI DSS certification.

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