ISSI Appoints New CSO

Larry Powers has been appointed Chief Strategy Officer ISSI to lead their business development campaign for 2010. This is part of the new goal by ISSI to eliminate paper tax exemption certificates within five years. The new functionality increases ease-of-use for corporations implementing tax exemption certificate compliance solutions, and with the elements for retail/POS, e-commerce, telecommunications, and web services expanded and offered to corporations of all sizes. It also increases the availability of the TEAMS offering across verticals, and streamlines the ability for corporations to respond to audits efficiently and in a secure manner.

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Heartland Payroll Services Named Top Workplace

Heartland Payroll Services, a division of Heartland Payment Systems, has been named to The Plain Dealer’s “Top Workplaces 2010” list. The “Top Workplaces” identifies the leading workplaces in the Cleveland area based upon the opinions of its employees. Approximately 106 of Heartland Payroll Services’ 124 employees completed detailed questionnaires about their jobs, management and work environment — citing the company’s mission, ethics and positive culture as reasons why Heartland should be named one of Cleveland’s top employers. The survey measured six different categories, including: direction, management, execution, workplace conditions, career opportunities and pay/benefits.

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Choice Launches Visa Signature Card

Choice Hotels International announced that the new no annual fee Choice Privileges Visa Signature Card, featuring fast earning power and an automatic upgrade to Elite Gold status, will be available July 1. The new card, issued by Barclaycard US, will award 8,000 bonus points after a cardholder makes their first purchase and another 8,000 bonus points after their first paid stay with the new Choice Privileges Visa card at a Choice brand hotel. Cardholders will earn 2 points per $1 spent on everyday purchases such as gas and groceries. Cardholders will earn 15 points for every $1 spent at over 4,200 Choice Privileges locations worldwide, 10 points per $1 spent at 2,000 other Choice Privileges properties, and cardholders will earn 5 points per $1 spent on Choice Hotels gift cards and on the purchase of additional Choice Privileges points.

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MASTERCARD PAYPASS

First Data Corporation ecommerce and payment processing has partnered with INSIDE Contactless to introduce their MasterCard “PayPass” contactless payment tag. Based on INSIDE’s “MicroPass” payment platform and containing all the functionality of a traditional credit or debit card, the new MasterCard “PayPass” mpayment tag offers a cost-effective solution for enabling mobile phones with contactless payment capabilities, and will be marketed and sold to MasterCard licensed financial institutions and card issuers. The MicroPass-based tag products offer an innovative shielding design to protect the chip and antenna inside from interference caused by the mobile handset, resulting in enhanced transaction performance. The tag includes new advanced adhesive backing to adhere to mobile phones better while allowing the sticker to be removed and reapplied without losing its grip.

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Capital Access Network Appoints New CFO

Daniel DeMeo has been appointed the new CFO for Capital Access Network (CAN), parent company of AdvanceMe Merchant Cash Advances and NewLogic Business Loans. He joins CAN with over nine years experience as a C-level financial officer for multiple divisions of JPMorgan Chase & Co. as well as 1st Financial Bank USA. In these positions, he was responsible for finance and accounting activities including planning, investment management, portfolio and product pricing, and balance sheet management. Prior to these engagements, DeMeo’s career path included positions held with Citibank Universal Card Services, GE Capital Consumer Card Co and Sears, Roebuck & Co.

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JCB EXEC

Takao Kawanishi has been appointed President and Chief Executive Officer (CEO) with JCB, effective immediately. Kawanishi joined JCB in an advisory capacity in May 2010 from the Bank of Tokyo-Mitsubishi UFJ, Ltd., where he served as Deputy President since April 2008. He has an in-depth expertise and broad experience gained in his 38 years in the banking industry, starting with the Sanwa Bank, Limited, followed by UFJ Holdings, Inc., UFJ Bank, Ltd., and the Bank of Tokyo-Mitsubishi UFJ, Ltd. Before joining JCB, Mr. Kawanishi held a number of senior management roles including Managing Director since 2006, Senior Managing Director since 2007, and the most recent responsibility as Deputy President in the Bank of Tokyo-Mitsubishi UFJ, Ltd.

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Fitch Affirms Western Union Outlook Stable

Fitch expects revenue to increase in the low single-digits in 2010, limited by a continuing soft global economic environment and job market as well as continued pricing pressure in the U.S. and Mexico markets. EBITDA margins to remain relatively constant near 30% as cost cutting actions taken by the company serve to offset regional pricing pressure. Free cash flow is projected to decline significantly in 2010 reflecting a $250 million refundable deposit against a disputed tax liability, a full year of higher dividend payments (approximately $160 million per year versus $41 million in 2009) and modestly higher capital spending. Fitch does expect free cash flow to return to historical levels in 2011 of approximately $800 million to $900 million. Working for WU is its extensive domestic and growing international agent network with a strong worldwide brand and revenue stability from strong global diversification and consumer exposure.

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MONEYGRAM EXPANDS

MoneyGram International has signed three new agents in Morocco that will offer money transfer services under the MoneyGram name. These agents are Credit Immobilier et Hotelier (CIH), MEA Finance / Canal M and WafaCash. Credit Immobilier et Hotelier, a mortgage lender, will broaden it services to offer money transfer in 150 locations and will introduce MoneyGram to a new set of customers. MEA Finance / Canal M, an experienced money transfer service provider with branches in immigrant neighborhoods, brings 100 locations to the network and WafaCash, a local bank, will strengthen MoneyGram’s network by adding 400 new agent locations across the country. With these new additions, MoneyGram has 2,022 agent locations in Morocco.

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73% of Consumers Use Debit for Everyday Spending

Debit card use is on the rise while credit card use is on the decline for spending, with 69% of consumers in the Northeast, 72% in Washington, D.C., and 83% in Florida using theirs for daily purchases. This, according to a recent TD Bank poll, also shows 34% of consumers in the Northeast say that convenience is the number one advantage they receive from their primary bank followed by customer service and products/services, compared to respondents in Washington, D.C., who report that convenience is equally as important as products/services; 27% of respondents in the Northeast would consider switching from their primary bank to open up a new checking account if they were offered better fees; Floridians are more debit focused than those in the Northeast; 83% use their debit cards on daily spending versus 69% in the Northeast, and 75% of Florida respondents use their debit cards on gas and clothing too.

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MICRO$ALE POS

The Precidia Technologies Transnet payment engine application has been certified with “Micro$ale POS” POS system for the food service industry. The IP payment and networking is now certified to offer its users an alternative to existing integrated payment options with a flexible processor choice, security and complete control of the payment function. Micro$ale POS is a full featured, yet simple POS system ideal for food service locations such as quick and full service restaurants, bars, and delis. The system delivers a wide range of features and tools, from forecasting to reservations to customizable menu programming. In order to process payments from credit, debit, gift and loyalty cards, Micro$ale must be teamed with an integrated payment application. The TransNet payment engine from Precidia Technologies meets this requirement with new features and benefits not available with competing solutions.

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Allpoint Network Expands in New York City

Allpoint Network, a Cardtronics affiliate and the operator of the largest surcharge-free ATM network, has entered into a long term agreement with Actors Federal Credit Union to provide branded surcharge-free access to 215 New York ATM locations including 200 McDonalds stores throughout the New York City metro area. With the addition of the Actors ATMs, Allpoint will have more than 2,500 surcharge-free locations in New York. Allpoint surcharge-free ATM network has 37,000 ATMs in leading national and regional merchant locations across the United States and the United Kingdom.

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