Wells Fargo Expands Remittance Network in Mexico by 9,000

Wells Fargo has expanded its “ExpressSend” remittance network in Mexico through an agreement with Houston-based Transnetwork Corporation. Adding more than 4,000 payout locations in Mexico for a total of more than 9,000 locations, the remittance payout network with the expansion includes Soriana, Famsa, BBVA Bancomer, HSBC Mexico, Banorte and Telecomm Telegrafos. This allows more customers to send money directly to their beneficiary for one low transfer fee. Transnetwork provides a turnkey solution to money transfer organizations and banks by offering a large and diversified payment network in Mexico and Latin America.

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MCPS Names SVP of Strategic Market Development

Todd Linden has been appointed Senior VP of Strategic Market Development with Merchants’ Choice Payment Solutions (MCPS). In his new role he will be responsible for the expansion of the merchant business, financial institutions, and independent sales organizations serviced by MCPS and oversee strategic growth initiatives for the Company. He most recently held the position of Senior VP of Business Development for EVO Merchant Services after having served as Senior VP and Division Manager of Operations at NPC, president and COO of Card Commerce International, and held several key management positions at Bank of America Merchant Services. Choice Payment Solutions (MCPS) processes more than $3.4 billion in annual credit card volume for over 41,000 merchants.

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Applied DNA Launches ATM Security Ink

Applied DNA Sciences DNA-based security solutions has introduced its “Cashield” cash degradation inks that permanently stain bank notes stolen from cash-handling or ATM systems. Cashield extends APDN’s offering beyond its prior singular product, AzSure™, to a family of security inks that include Red, Violet, Green, Teal, Indigo and the original AzSure blue. A study at the University of Leeds had previously found AzSure’s performance to be “best-in-industry.” APDN also announced that Cashield has been certified for use in the EU by Laboratoire National de Métrologie et d’Essais (“LNE”). Cashield yields a non-removable stain that allows police and officials to identify stolen cash.

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Discover to Sponsor Orange Bowl Game

Discover Financial Services has inked agreements as the title sponsor for the 2011-2014 Orange Bowl Games and the 2013 BCS National Championship Game and will now be known as the “Discover Orange Bowl.” Also, the 2013 BCS National Championship game to be hosted by the Orange Bowl in South Florida will be named the “2013 Discover BCS National Championship Game.” Under the partnership, Discover will be the official card of the Orange Bowl and the Bowl Championship Series. The four-year deal includes the multi-media integration of Discover as part of ESPN’s season-long college football coverage and marketing.

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MoneyGram Donates Transfer Fees to Pakistan Disaster

MoneyGram International is donating to relief efforts for the devastation caused by flooding in Pakistan with a portion of its send fee from every money transfer sent to the Country from participating countries. Beginning August 20th through September 20, $3 USD from each transaction made to Pakistan will be donated to the American Red Cross to support relief efforts in Pakistan. All MoneyGram agents in Pakistan, including Bank Al Falah, MCB Bank and Wall Street Exchange, are currently conducting business and thus recipients can readily collect remittances. This is in response to the more than $1 million in community support included global relief efforts after disasters in El Salvador, India, Indonesia, the Philippines, Samoa and Tonga.

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Rapid7 to Meet New PCI Requirements for Scanning Vendors

Rapid7 unified vulnerability management and penetration testing solutions has fully prepared to support the new changes to PCI DSS requirements for vulnerability scanning. With a September 1, 2010 deadline, many existing ASVs are turning to Rapid7, who contributed to the PCI SSC Task Force in the development of the new requirements captured in the Technical and Operations Guide version 1.2. The new version includes considerable changes in the way ASVs and their customers operate and interact, requiring additional information and justification. One of the PCI DSS changes includes a new scoring system of vulnerability checks that are relevant to PCI compliance scans conducted by ASVs. This scoring system replaces the legacy five-point scoring system.

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Intuit & mophie Offer iPhone Credit Card Processing

Intuit and mophie has made available its “Complete Credit Card Solution” all-in-one product allowing small businesses to process credit card payments via the Apple iPhone. Integrating Intuit’s “GoPayment” credit card processing app and merchant account with the mophie marketplace iPhone credit card reader, “Complete Credit Card Solution” is now available in Apple Retail Stores and soon on Apple.com. Intuit GoPayment is designed to let merchants start processing credit cards on their iPhones in as few as 15 minutes and is compatible with “QuickBooks” Mac to help save time in keeping business financial files up to date. The Intuit Merchant Account application process is designed to let small business owners easily and quickly apply and be approved to start processing credit cards. The clip-on mophie marketplace card reader allows merchants to save time by securely swiping credit cards instead of entering numbers by hand.

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uMonitor Ranks on Inc. 5000 Fastest-Growing

uMonitor innovative financial software solutions for customer acquisition and retention operational excellence, announced that it ranked on the 2010 Inc. 5000 list for its third consecutive year. The company’s 191 percent revenue growth from 2006 to 2009 earned it a place among the nation’s fastest-growing private companies. uMonitor offers a wide range of Web-based solutions specifically designed to help financial institutions improve efficiencies and provide the most up-to-date online banking services. Its solutions enable financial institutions of all sizes to increase profitability, generate new revenues and improve regulatory compliance and employee productivity.

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Debit Card Regulation Cited for 11% Drop in Free Checking

The number of banks and credit offering free checking in the last year dropped 11% since the year ago period. This year, 72.5% of banks and credit unions offer free checking accounts to consumers vs. 83.5% in 2009. These findings, according to a national study of 2,265 financial institutions by Moebs Services, demonstrate the impact of the new financial regulation that went into effect on August 15th, the weak economy, and the Wall Street banks moving away from free checking. Also, only 63.6% of Wall Street banks offer free checking in 2010, compared with 92.6% in 2009, while community banks free checking declined to 71.7% from 78.3% and credit unions fell to 73.4 from 89.3%.

Regular Regular Interest Interest Interest
Checking Checking Checking Checking Checking
Balance Fee Balance Fee Rate
Community Banks $ 500 $ 6.50 $ 1,000 $ 9.00 .15 %
Credit Unions $ 300 $ 5.00 $ 500 $ 5.00 .20 %
Wall St. Banks $ 875 $ 9.75 $ 2,250 $ 14.00 .05 %
SOURCE: Moebs

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Retail Solutions In Top 500 Fastest-Growing Cos

With three-year revenue growth of 820.6%, Retail Solutions has been named to Inc. 500 Magazine 2010 list of America’s fastest growing private companies. Retail Solutions is the largest and fastest growing company in the emerging field of Retail Execution Management and has developed a unique platform combining the industry’s most widely used Software-as-a-Service (SaaS) Demand Signal Repository to collect, cleanse and harmonize retailer data such as POS and inventory data, with a set of proprietary applications to predict and correct out-of-stocks, improve forecasting accuracy, design and execute more effective promotions and reduce inventory levels. Its SaaS turns downstream data from POS and customer loyalty data into actionable visibility into the store and onto the shelf.

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TSYS Among Top 20% of Southeast Sustainable Businesses

TSYS has been named among the top 20% of publicly held companies throughout the Southeast region for corporate responsibility and sustainability KLD Research & Analytics. With this, TSYS was recognized with the highest honor for environmental, social and governance factors and policies in the first annual Southeastern Corporate Sustainability Rankings. In 2008, TSYS founded its “TSYS Green” sustainability committee to focus on reducing its global environmental impact by promoting corporate responsibility among its team members and in the communities where it has a local presence. The company also participates in a number of efforts to promote education, non-profit and community initiatives. The rankings were published in May 2010 to establish a legacy of corporate and social responsibility and advance efforts in the use of renewable, efficiency energy sources in the Southeast.

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7% Less SMBs See Improving Economy Q/Q

The number of small business owners disclosing economic conditions for their business was improving has dropped to 32% in 2Q/10 from the 39% seen in the year ago period. The Capital One Small Business Banking 2Q/10 “Small Business Barometer” suggest U.S. small businesses are experiencing stable or improved financial performance, but an increased number of businesses surveyed have grown more cautious about near-term plans for adding employees and spending on business development and investments. The Barometer also showed 43% of small businesses report stable conditions and 23% say economic conditions are getting worse. Additionally, 37% report their firm’s financial position is better than it was one year ago, consistent with last quarter but up 12 percentage points year-over-year; 43% report stable financial performance; 19% say that finances have worsened relative to one year ago; 25% believe the Gulf oil spill disaster will have a moderate to significant impact on their business and 17% say that it’s too early for them to predict whether or not their business will be affected.

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