EMBOSS

The YESpay International “EMBOSS” payment gateway has operated 365 consecutive days uninterrupted with 100% availability for credit and debit card
processing through its dual data center. This milestone verifies “EMBOSS” as the most resilient and stable EMV managed payment service in the UK. For
“EMBOSS” payment service, YESpay has taken the responsibility to end-to-end pre-accredit with leading card acquirers in UK, Europe, Canada and USA. YESpay
has maintained full certification for “EMBOSS” to PCI DSS Level 1 standards since 2006 as mandated by Visa and MasterCard.

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Datacard Acquires Dynamic Card Solutions, Software

Datacard Group has acquired Dynamic Card Solutions (DCS) instant issuance software for financial card programs, including the DCS “CardWizard” software. This expands Datacard’s portfolio of end-to-end instant issuance solutions for banks, credit unions and retailers to provide customers with ready-to-use financial cards in minutes. Datacard systems are used to personalize more than 10 million cards daily with Datacard systems. More than 25,000 of the company’s installations feature instant issuance hardware and software solutions. DCS has deployed CardWizard software in more than 5,500 bank and retail locations.

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GEMALTO EMV

Gemalto digital security expanded its facility in Burlington, Ontario to serve its growing EMV customer base in Canada. The investment will double the capacity and accommodate the need for delivering additional cardholder services. The site is the first in Canada to personalize dual-interface smart banking cards that enable both contactless and contact payment. Gemalto had 2009 annual revenues of EUR1.65 billion, and over 10,000 employees operating out of 75 offices, with research and service centers in 41 countries.

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PAYWAVE

Monitise Mobile Money solutions has partnered with DeviceFidelity to offer mobile phone users contactless Visa “payWave” transactions. The partnership combines Monitise’s expertise in mobile financial services and user interface design with DeviceFidelity’s In2Pay technology. In2Pay microSD is an innovative new technology that enables mobile users to transform a smart phone with a microSD slot into a mobile payment device. The Monitise developed user interface can be integrated with a variety of mobile banking applications, enabling financial institutions to offer their customers a suite of mobile services, including mobile payments, balances inquiries, mini-statements, bill payment, and funds transfers. The combination of payment capabilities and a slick user experience with a rich set of functions is key to expanding adoption and acceptance of mobile contactless payments.

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BancFirst to Acquire OK Bancorporation

BancFirst has entered into an agreement to acquire OK Bancorporation and its subsidiary bank, The Okemah National Bank. The Okemah National Bank has approximately $74 million in total assets, $32 million in loans, $59 million in deposits, and $13 million in equity capital. The transaction is scheduled to be completed by December 15, 2010, and is subject to regulatory approval. The bank will operate under its present name until it is merged into BancFirst, which is expected to be during October, 2011. BancFirst Corporation is an Oklahoma based financial services holding company with 85 banking locations serving 47 communities across Oklahoma.

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TNSLINK

Transaction Network Services Canada has launched its “TNSLink” service to provide secure communications via 3G wireless channels. This provides banks and
ISOs a choice of provider for ATM communications services. The service is PCI DSS compliant and enables dial devices to leverage wireless technology to
transport payment related data. It utilizes the Transaction Network Services (TNS) Canada managed Secure SSL Gateway specifically designed for the payments
industry for secure ATM transaction delivery.

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Credit.com And BillFloat Partner to Offer Bill Payment

Credit.com credit education and financial services is set to partner with BillFloat consumer-centric small-dollar loans for bill payment. With this, Credit.com visitors will have access to the first small-dollar lending solution that offers consumers ‘more time to pay’ their bills to over 3,000 billers including utility, cable and satellite, cell phone, auto lease,, housing, and insurance payments. In contrast to payday lenders that have encountered resistance from State and Federal regulators for high cost lending practices, BillFloat’s solution embraces the FDIC’s Small Dollar Loan Template. BillFloat will be featured alongside Credit.com tools, consumer credit news, a selection of credit cards, credit scoring products and unbiased product reviews by its team of experts.

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Late Payments Plague US Consumers & Businesses Alike

Although improving, late payments are continuing to negatively impact consumer and business credit reports across the country. This is reflective in the 39% of American invoices paid late over the past 6 months, which is in conjunction with consumer monthly payment rates having just posted negative numbers month-over-month to now stand at 13.11% in August from 12.86% in July, but an improvement from the year ago figure of 16.96%. These findings, according to CardData.com and the “Payment Practices Barometer” global report, also show this seriously disrupts cashflow. This subsequently required 48% of companies left waiting for payments to conduct corrective measures to manage internal cash flow. Additional findings show 52% of U.S. consumers asked for extended payment terms over the last six months; 48% had delayed payment without prior agreement; and average domestic payment term was 28 days.

MONTHLY PAYMENT RATE
Jul 09: 17.12%
Aug 09: 16.96%
Sep 09: 16.59%
Oct 09: 17.77%
Nov 09: 17.66%
Dec 09: 17.23%
Jan 10: 17.15%
Feb 10: 15.95%
Mar 10: 18.79%
Apr 10: 14.61%
May 10: 13.96%
Jun 10: 14.22%
Jul 10: 12.86%
Aug 10: 13.11%
Source: CardData (www.carddata.com)

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Protegrity Extends Mainframe Data Security Protection

Protegrity USA end-to-end data security solutions has made available its “Protegrity Data Security Platform 5.2: for Mainframe” to offer scalable protection of sensitive data within the IBM Mainframe computing environment. The new solution allows large enterprises and government organizations to manage their protection of databases, files and applications under a single policy, lowering the total cost of ownership for meeting regulatory compliance. Compensating controls allow users to meet requirements for PCI DSS and other regulatory compliance. The new Protegrity solution has the breadth and ease of integration with enterprise key management capabilities required for companies to actually protect data on the mainframe instead of using compensating controls.

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Navy Federal Approved for Merger With USA Fed

The National Credit Union Administration (NCUA) announced the request for merger for Navy Federal and USA Fed was approved by each institutions’ Board of Directors. With this, all USA Fed’s 19 branches will become part of the Navy Federal branch network. Additionally, Navy Federal is inviting all USA Fed members to visit existing USA Fed branch offices to activate their new accounts and take advantage of Navy Federal’s great offers such as low loan rates and top-rated credit cards. The combined credit union will have over 200 branches worldwide, with 22 located in Southern California, over $43 billion in assets and more than 3.5 million members.

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86% Want mFraud Alerts, 41% Prefer Internet Banking

Regarding suspicious account activity, 86% of bank account holders
expect to hear about suspicious activity within one hour or less while
55% want automated messages from banks. However, only 36% currently
receive communications from their banks via calls or SMS cell phone text
messages. Meanwhile, 69% would like their bank to provide real-time
communication channels and 86% would accept immediate notification via
automated systems, according to a recent Adeptra survey of 200 U.S.
account holders. This is in conjunction with recent findings showing
41.4% of consumers’ preferred banking channel is the Internet; 32.6%
prefer branch banking, 23.3% prefer ATM banking while only 1.5% prefer
m-banking. When confronted with a banking problem or possible fraud,
however, 60% prefer to visit a branch, 34% prefer to use the phone and
only 6% like to contact the bank online. With 51.2% of U.S. consumers
having a hard time trusting the security of mobile banking, compared to
the 21.7% whom do not trust Internet banking, bank customers are very
specific regarding which channels they prefer in certain context (CF
News Library 2010/09/30).

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