ScanSource Announces Retirement of Director

James G. Foody of ScanSource is set to retire as a director of the Company effective at the conclusion of his present term in December 2010. Having served as a director of the Company for the last 15 years, including service as Chairman of the Board from December 2005 to December 2009, Foody is retiring from the Board as part of an effort to scale back his business activities. He will retain his honorary role of Chairman Emeritus and continue to be available in an advisory capacity. He also served on and chaired numerous Board committees, most recently as Chairman of the Governance Committee and as a member of the Audit, Compensation and Nominating Committees. Mr. Foody’s tenure coincided with a period of strong growth and diversification for ScanSource during which it successfully expanded into new geographies and product lines.

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RFID Systems Revenue to Exceed $6 Billion in 2011

RFID forecasts indicate the value of the overall market for electronic toll collection and e-ID/ID documents as well as “modernizing” applications such as contactless payment and ticketing will pass the $6 billion mark next year. Thanks to initial growth seen in 2009, ABI research indicates CAGRs of between 21.7% and 28.8% for the five primary applications from 2010-2014. Case in point is the Wal-Mart multi-billion unit passive UHF RFID apparel tag and 15,000+ handheld reader RFP order and its expected US rollout, which some observers believe has sparked renewed interest in RFID for item-level tracking.

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WIN FUEL CONTEST

The Shell “Win Fuel Contest” is rewarding customers who use any BMO MasterCard for their purchases at participating Shell stations across the country. Customers who use any BMO MasterCard for purchases at participating Shell stations from September 13 – November 7 will be automatically entered for a chance to win a prize in the Shell “Win Fuel Contest.” One contest winner will receive the grand prize of $10,000 of Shell Nitrogen Enriched Gasolines, which help clean and protect critical engine parts against performance robbing gunk with the most advanced Shell technology designed to help improve engine performance as you drive. Entrants could also win 1 of 10 prizes of fuel for a year (Approx. Retail Value: $2,500).

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MOBIO

Mobio international m-payments and marketing is set to launch its
advanced smartphone technology in Jacksonville, FL, for which the
Jacksonville Jaguars have partnered with the Company to enhance the fan
game-day experience at EverBank Field. The smartphone technology offers
patrons the option to order food and beverages from their seat, scanning
a barcode at their seat for a list of menu items brought up on the
smartphone, and the user selects and pays for their choice. The order is
then delivered to the user at their seat. Mobio also provides a barcode
in the Jaguars’ game-day program, which give fans the opportunity to win
an autographed jersey of their choice. Mobio offers a mobile application
that runs on an expanding portfolio of smartphones. Mobio for Apple’s
iPhone, the company’s flagship payment application, allows consumers to
make payments while shopping online or in stores.

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Zoot Celebrates 20 Years of Credit Industry Service

Zoot advanced instant credit decisioning and loan origination announced 20 years of service to the financial industry. Founded in 1990, Zoot has grown into a multi-million dollar company that has introduced numerous industry-changing innovations to the market and received several industry awards. Its innovations include the first PC-based credit retrieval, first automated instant prescreen and the first graphical user interface for business rules. Zoot technology today enables the company’s solutions to evolve with its clients when their business strategies, compliance requirements or consumer expectations change.

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MoneyGram International to Offer Cash Payment for BillingTree

MoneyGram International has signed agreements with BillingTree on-demand payment processor, with which MoneyGram will provide same-day, cash payment services at MoneyGram’s approximately 35,000 agent locations nationwide under the brand name BillingTree “PaynCash.”BillingTree provides billing organizations payments acceptance through ACH and credit card via online, IVR/VRU, MOTO and more. The addition of MoneyGram’s walk-in, cash payment solution rounds out BillingTree’s suite of payment services, giving consumers another option when it is necessary to pay in cash or to make a last-minute payment. These agreements allow BillingTree billers to collect cash payments through MoneyGram’s network of retail locations found in national grocery, pharmacy and convenience store chains.

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Regions Deploys Cardlytics’ Transaction Marketing

Cardlytics transaction marketing in banking platform has been deployed by Regions Bank to offer targeted reward offerings to its customers based on a customer’s actual Regions Visa Checkcard purchases. This is meant to ensure incentives are highly relevant to each recipient and relevant offers are presented in each customer’s checking account detail page within Regions secure online banking platform. By “clicking” on the offers, account holders can activate or “accept” rewards before redeeming them at a number of national, local and online retailers. Without requiring coupons or promotion codes, offers are automatically redeemed when customers use their Regions CheckCard to make purchases according to the offers’ conditions; targeting, delivery and redemption occur without customer data ever leaving the bank’s secure environment.

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$6 Billion Overdraft Revenue Drop to 2008 Levels

By the end of 2010, overdraft revenue is expected to total no more than $35.4 billion, down from $37.1 billion in 2009 and on par with 2008. The first drop was seen in 4Q/09, during which $2 billion in revenue was lost, when banks and credit unions started to implement their own floors and ceilings on overdrafts in response to Congressional complaints, which was then followed by another $2.3 billion in revenue lost in 1Q/10 thanks to the Opt-In regulation by the Federal Reserve, which cost banks and credit unions about $2 billion in operational costs and training to implement. This, according to a recent Moebs $ervices study of fee revenue from 2,284 financial institutions and over 15,000 depositories throughout 1H/10, also shows 44.3% of banks and credit unions made some type of change to their overdraft program; 55.7% did nothing; 20.5% increased prices to offset cost and revenue loss while 6.5% decreased their overdraft price. Additional findings show 90% of overdraft revenue comes from frequent users. This comes on last month’s findings national retail merchants have increased what they charge consumers whose checks are returned insufficient funds (NSF) by 20% to a median $30, compared to $25 in 2009, the highest percent increase and surpasses banks and credit unions median fee of $27 for an NSF. This is to generate a more profitable bottom line and offset the cost of e-check use where the paper check is swiped(CardFlash Library 08/10/2010).

OVERDRAFT REVENUE
2011: $38.0 B
2010: $35.4 B
2009: $37.1 B
2008: $35.4 B
2007: $34.1 B
2006: $31.5 B
2005: $29.7 B
SOURCE: MOEB$

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ICO Named InformationWeek Top Technology Innovator

FICO analytics and decision management made this year’s InformationWeek 500 annual listing of the nation’s most innovative users of business technology. This was FICO’s second placement in a row on the annual list, which ranked FICO #165. The 2010 list was revealed last night at a gala awards ceremony at the exclusive InformationWeek 500 Conference taking place at the St. Regis Monarch Beach Resort, Dana Point, CA. The InformationWeek award recognizes FICO’s CIO division for the FICO Virtual Desktop Strategy, an initiative that involved the virtualization of 600 desktops across 12 server farms. The “Virtual Desktop Strategy” is built on the core foundation of VMWARE vSphere software, Hewlett Packard blade technology, Cisco Nexus Switching, and Network Appliance virtual storage.

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2Checkout.com Promotes CIO and SVP, Strategy

Mark Bishopp has promoted as Chief Information Officer and SVP, Strategic Development with 2Checkout.com online payment solutions. Bringing with him more than 22 years’ progressive international executive experience in interim CIO roles, strategic planning/alignment management, contract negotiation and critical program execution, he will be responsible for all technology, strategic relationships, business plan/analysis and contract negotiations for the organization. He offers 2Checkout.com powerful perspective to how businesses can strategically plan for and implement new and existing technologies. Mark holds a Bachelor’s Degree in Business Administration from St. Bonaventure University in New York.

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GTCR to Sell National Processing Co

GTRC has signed a definitive purchase agreement with Fifth Third Processing Solutions to sell its National Processing Company (NPC). NPC merchant acquirers provides integrated electronic payment solutions and services targeted exclusively toward the small to medium sized enterprise segment. Through its broad distribution network and more than forty years experience in the payments industry, the payments processing business will extend Fifth Third Processing Solutions’ ability to provide best-in-class capabilities to its client base and will expand the Company’s already strong commitment of providing innovative electronic payment solutions to a more diversified client base that will now include ISOs and agent banks.

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NACHA Secures Vault Payments to Commercialization

NACHA Electronic Payments Association announced that Secure Vault Payments (SVP) will move into full commercialization following a pilot designed to assess the feasibility of SVP. Supported by eWise’s Online Banking ePayments (OBeP) platform, financial institutions, merchants, billers, payment gateway providers, and core payment processors have embraced SVP as a payment solution. NACHA will continue to serve as the governing body for SVP, creating, maintaining, and enforcing the use of SVP through the NACHA Operating Rules and business rules specific to SVP. eWise, as the exclusive switch operator and technology provider, will oversee all sales, marketing, and implementation activities necessary to fully develop the SVP network. Significant increases in sales and marketing activities have begun with the addition of dedicated sales and marketing teams to drive further adoption of SVP by financial institutions, merchants, and billers.

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