CyberSource Stockholders Approve Visa Acquisition

CyberSource stockholders approved its acquisition by Visa. Approximately 71.76% percent of the outstanding shares were voted, of which approximately 99.77% were voted in favor of the acquisition. The acquisition is expected to close July 21, 2010. CyberSource solutions enable electronic payment processing for Web, call center, and POS environments. CyberSource also offers industry-leading risk management and payment security solutions for merchants accepting card-not-present transactions.

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U.S. Bank Savings Program Rolls-out in California

U.S. Bank is bringing its “Savings Today And Rewards Tomorrow” (S.T.A.R.T.) savings program to California, where U.S. Bank has nearly doubled in size over the past two years with 659 branches statewide. S.T.A.R.T. allows customers to regularly transfer money into a savings account and to earn rewards when they reach certain savings milestones. Customers choose how they want to contribute and how much they want save, whether it is a little every week, a little with every paycheck or a little with every debit or credit card purchase. To accelerate the savings, customers can also automatically sweep into their S.T.A.R.T. account the cash they earn through their FlexPerks rewards program.

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FIS Reports 2Q/10 Revenue Up 2.4%

FIS banking and payments technology reported 2Q/10 adjusted revenue increased 2.4% to $1.29 billion compared to pro forma revenue of $1.26 billion in 2Q/09. Meanwhile, adjusted EBITDA was $385.8 million, 7.2% higher from the year ago figure of $359.8 million; adjusted net earnings from continuing operations totaled $176.5 million; payment solutions revenue was $630.6 million, down from the year ago figure of $631.1 million; and international solutions revenue increased 8.0% to $200.7 million in U.S. dollars. FIS has $502 million in cash and cash equivalents, total debt outstanding of approximately $3.0 billion and completed the acquisition of Metavante Technologies during the quarter.

FIS REVENUE
2Q/09: $1.260 billion
3Q/09: $1.290 billion
4Q/09: $1.316 billion
1Q/10: $1.259 billion
2Q/10: $1.290 billion
Source: CardData (www.carddata.com)

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Philips Arena to Deploy Radiant POS

Radiant Systems inked new agreements with Atlanta’s Philips Arena to provide the “Quest Venue Management” hardware, back office and POS software solution for the arena’s food and beverage service operations. Philips Arena will implement its new technology solution within its general, premium and portable concession locations, as well as in the venue’s restaurants, clubs and in-seat service prior to the 2010-2011 Atlanta Hawks and Atlanta Thrashers seasons. The Quest terminal all-in-one, fully-integrated solution can deliver fast transaction speeds in high traffic areas, providing Philips Arena guests innovative payment methods. Quest hardware also consumes 80% less energy than competitive products.

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American Express Appoints New Division President

Daniel H. Schulman is set to join American Express as Group President for the Enterprise Growth business unit. Responsible for AmEx’ global strategy to expand alternative mobile and online payment services, form new partnerships and build revenue streams, Schulman will also be responsible for the company’s Business Development, Mergers and Acquisitions unit. In doing so, he will also oversee “Revolution Money” online payments business and the Company’s “Global Prepaid Business.” Schulman will be a member of the American Express Business Operating Committee and will develop the company’s overall growth initiatives. He most recently served as President of Sprint’s Prepaid group, where he was since 2009, is currently a director of Symantec and Flextronics, holds a Bachelor of Arts in Economics from Middlebury College and an M.B.A. in Finance from New York University.

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US Economic Growth Slowdown Looming

A growth slowdown starting this summer is becoming increasingly apparent, with 2Q/10 GDP growth probably the highest for the year. There are no signs of a “double dip” recession as The Conference Board US “Leading Economic Index” points to continued, though slower growth for the rest of this year. Weak consumer confidence, slow job growth and flat confidence levels among CEOs all support the slow growth scenario. The Board is expecting GDP growth in a range of 1.5 to 2% for 2H/10 as a result of slow consumer spending, weaker investment growth and a significant cutback in government spending.

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ClairMail Adds New VP and CMO

Carl Tsukahara has joined the ClairMail mbanking and payment solutions executive team as VP and CMO. Bringing with him a wealth of Silicon Valley experience to the role, Carl will play a strategic part in the continued growth and success of the company. He also brings strong technology domain expertise and first-hand experience in executive leadership roles in marketing, strategy, product operations, and sales. He will be responsible for global marketing strategy and execution and will accelerate ClairMail’s market share and customer acquisitions.

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Graphite Payments to Sell & Lease Harbortouch POS

Harbortouch of the United Bank Card network POS solutions has partnered with Graphite Payments, allowing the Company to sell and lease Harbortouch touchscreen POS systems to its ISOs as part of the partnership agreement. Graphite Payments will now be able to offer cash registers available through UBC’s electronic cash register (ECR) program. UBC has recently expanded the program to include the sale and lease of ECRs. Graphite’s ISOs will also be able to participate in UBC’s leads program. The leads program was launched earlier this year and provides the company’s ISO partners with pre-set appointments. Graphite Payments is a transaction processor providing businesses with comprehensive payment services. They are a full servicer merchant service provider, registered with First National Bank of Omaha.

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Fiserv Launches Person-to-Person Payments Service

Fiserv financial services technology solutions has launched its “ZashPay” person-to-person (P2P) payments service. Allowing users to send or receive money using their existing online banking accounts, “ZashPay” only requires the recipient’s name and e-mail address or mobile phone number. The payment will be deducted directly from the sender’s banking account and deposited directly into the recipient’s account, utilizing the same secure processes as an online banking transaction. Payments made through ZashPay will be securely processed through the Fiserv industry-leading online payment network, which in 2009 processed 1.35 billion online bill payments for more than 3,100 financial institutions, including most of the largest banks and credit unions in the U.S.

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Discover Card Expands Rewards Program

Discover has enhanced its rewards redemption experience to offer cardmembers a redesigned redemption site, with access to hundreds of new brand-name merchandise and more redemption options with “Cashback Bonus” rewards. The “Cashback Bonus” program allows cardmembers to earn 5% “Cashback Bonus” in specific categories that change on a regular basis throughout the year, and up to 1% Cashback Bonus on all their purchases. Redemption options will still start as low as $20 for redemption on Partner and Discover gift cards; merchandise; charity donations; direct deposit; and statement credit. Cardmembers can additionally choose a split-pay option on select merchandise, for both “Cashback Bonus” and paying off their remaining Discover or Diners Club cards balances.

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Cardlytics Recognized as a Top North America Business

Cardlytics transaction marketing has been awarded the Red Herring “North America Top 100,” placing it on the list honoring the year’s most promising 100 private technology ventures from the North American business region. This is in addition to Cardlytics recently being named by the Technology Association of Georgia as a Top 10 Innovative Georgia Technology Company at the recent Georgia Technology Summit. Cardlytics unites banks and merchants to provide rich rewards to customers based on their individual purchase behavior. Its technology tracks consumers’ actual purchases, providing the first digital channel that can guarantee offline sales and help consumers realize savings of hundreds of dollars per year on the products they purchase every day.

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Servant Keeper Integrates Heartland RDC

Servant PC Resources nonprofit software has integrated the Heartland “Check Management” end-to-end check processing platform. Providing remote deposit capture and check management solutions to its clients, “Check Management” allows clients to scan a check from their location using a remote scanner, and the deposit is processed. The client receives automatic notifications and can monitor every step of the deposit 24/7/365 in real-time. At that point, the transactions are posted in “Servant Keeper” format to reconcile all member contributions without manual entry. Additionally, the client can elect to have bad checks handled by Heartland’s automated recovery program. Heartland “Check Management” is powered by Transmodus network-enabled remote deposit and check management automation.

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