U.S. Bank Awarding $36,000 to Get Ahead

U.S. Bank has awarded customers $36,000 in
prizes as part of the U.S. Bank Get Ahead in 2010 promotion.
Small business and consumer U.S. Bank Visa credit and check cardholders
had a chance to win up to $10,000 every time they used their eligible
card during the promotion, which ran from Jan. 15, 2010 through Feb. 28,
2010. Two customers won a $10,000 grand prize. Two other customers won a
$5,000 Get Ahead in 2010 prize by using social media to encourage votes
on their story telling on how this prize would help them get ahead in
2010. Twelve customers won a $500 prize in the weekly drawing.
Cardholders registered their eligible card by visiting the promotion
website, allowing for chances to win a randomly-drawn $10,000 prize or a
$500 weekly prize. Then every time they used their card, they earned an
entry into the sweepstakes. Two sets of prizes were awarded – one for
small business and one for consumer cardholders. Cardholders also had the opportunity to earn $5,000 by submitting a
story on how they would use $5,000 to Get Ahead in 2010. They went on to
share their story with friends via Facebook, LinkedIn, Twitter or email
and encouraged them to visit the promotion website to vote for their
story. The two stories with the most eligible votes at the end of the
contest period won the $5,000 Get Ahead in 2010 prizes.

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CIBC & TSYS

Payment outsourcer TSYS has has extended its payment services agreement with a multi-year contract renewal with the Canadian Imperial Bank of Commerce (CIBC) for the processing of CIBC’s Visa consumer credit card portfolio. CIBC ranks as the number one issuer of credit cards in Canada based on dollar volumes outstanding, and TSYS processes over 44% of all Visa and MasterCard credit card accounts in Canada.

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Highlights From the Smart Card Alliance Annual Meeting

At the Smart Card Alliance annual conference, the United Nations
Federal Credit Union (UNFCU), explained how it is responding to the
needs of its international travelers with EMV and Wal-Mart, the largest U.S.
company, strongly advocated a move to chip and PIN.
Worldwide nearly one billion EMV cards have been issued and over half of these
are now non-European, due to the
phenomenal growth in the Americas and Asia over the last few years.
EMVCo is focused on preparing contactless and mobile EMV standards, he
reported. In his view, there is an excellent opportunity in the U.S.
market to utilize contactless technology online to improve security.
Wal-Mart is also interested in moving to EMV for security reasons.
Wal-Mart already has 100% of its payment system hardware equipped
to accept EMV chip and PIN, and is finalizing the software programs for
these devices.

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NEOVIA & IGAMING

Alternative payment provider NEOVIA Financial Plc will be exhibiting at the iGaming Super Show in Prague, talking to affiliates, merchants and partners about its award-winning affiliate program and payment services. NEOVIA’s consumer brand, NETELLER, in the Affiliate Zone unveiling its Affiliate Benefits Package for the first time. NEOVIA’s NETELLER eWallet is a proven payment system for affiliates, and has been used by all of the leading gaming brands and affiliates for payouts for more than 10 years. It has won the iGaming (previously known as CAP) award for Best Payment System for Affiliates three years in a row.NEOVIA launched its own affiliate program in 2008, offering best-in-class cash incentives to affiliates who refer customers to use NETELLER as their payment system of choice. Gaming and retail affiliates are able to both increase their conversions and commissions when promoting NETELLER alongside merchant brands. With thousands of active referrals, the program showed record quarter-on-quarter growth of active referrals of 56% in Q1 2010. It has successfully signed up affiliates in key countries including Poland, Portugal, Germany, Brazil and Japan.

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Women Now Account for 51% of Online Bill Payers

Currently, 72.5 million U.S. households, 80% of all households with Internet access, use online banking, while 36.4 million households, 40% of all households with Internet access, use online bill payment. In 2002, men represented 61% of online bill payers and maintained the lead in usage of the service through 2009. In 2010, however, women represented 51% of online bill payers. This, according to the Fiserv “Consumer Billing and Payment Trends survey,” which tracks online consumer bill payment habits, also shows consumers age 21-34 made up 28% of online bill payers, consumers age 35-54 made up 48% and consumers over age 55 made up 24%. Also this year, more than a third of online bill payers had a yearly household income of less than $50,000; paper checks declined from 61% of all payments in 2000 to 26% in; online bill payments have grown from 12% to 45% of all payments; the number of consumers that receive an e-bill jumped 9% between 2009 and 2010; and the number of mobile phone users who conducted one or more banking services via their mobile phone increased from 23% in 2008 to 30%.

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VISA & MONITISE

Visa and mobile financial services provider Monitise have entered into
a joint venture that will provide a technology platform for financial institutions and mobile network operators in India to offer a range of mobile financial services to consumers. The new company will combine Visa’s expertise in enabling secure, globally interoperable financial transactions with Monitise’s know-how in developing mobile financial technology for a broad range of handsets.
The joint venture builds on an existing partnership between Visa and Monitise, and will give providers of financial services in India a platform to accelerate the delivery of mobile financial services such as banking, bill payments, mass transit ticketing, mobile top-up and others to consumers. Over the past two years, Visa has actively partnered with financial institutions, mobile network operators and technology providers, including Monitise, to extend the benefits of digital currency to more consumers in more countries around the world. India is the world’s second largest mobile market with an estimated 584 million mobile phone subscriptions as of 31 March 20103.

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BASE24-EPS

ACI Worldwide electronic payments software and solutions announced Smartlink Card Services Joint Stock Company (Smartlink) is deploying its “BASE24-eps.” As ACI’s software for online payments processing, on IBM Power Systems infrastructure, “BASE24-eps” will provide for Smartlink, one of the largest national retail payment switch companies in Vietnam, a shared payment switch between its member banks. This enables card holders to use any ATM, without being restricted to their own bank’s ATM network, allowing card holders in Vietnam access to cash wherever they are through the more than 10,000 ATMs across the country. Smartlink chose the ACI solution to meet current market demands and roll out new functionality and customer services easily and cost-effectively. The “BASE24-eps” software will allow Smartlink to roll out direct ATM driving, POS driving, and connections to Visa, MasterCard, American Express, JCB and Diners Club in the future.

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DAHABSHIIL

The CEO of Dahabshiil international remittance business has called for support from the international community to work with the private sector in Somalia. External recognition is required to support the private sector in the reconstruction and development of the region, given the constraints facing Somali businesses. The private sector in Somalia needs international support to help create more jobs and encourage investment in the region. This, however, is discouraged due to the perception of Somalia and a lack of understanding of how the private sector works from international banks making it harder for businesses to obtain capital. Aside from individuals, over 95% of the international organisations in Somalia rely on Dahabshiil payment services.

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ACI Inks Deployment Software Agreements in Vietnam

ACI Worldwide electronic payments software and solutions announced Smartlink Card Services Joint Stock Company (Smartlink) is deploying its “BASE24-eps.” As ACI’s software for online payments processing, on IBM Power Systems infrastructure, “BASE24-eps” will provide for Smartlink, one of the largest national retail payment switch companies in Vietnam, a shared payment switch between its member banks. This enables card holders to use any ATM, without being restricted to their own bank’s ATM network, allowing card holders in Vietnam access to cash wherever they are through the more than 10,000 ATMs across the country. Smartlink chose the ACI solution to meet current market demands and roll out new functionality and customer services easily and cost-effectively. The “BASE24-eps” software will allow Smartlink to roll out direct ATM driving, POS driving, and connections to Visa, MasterCard, American Express, JCB and Diners Club in the future.

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MasterCard to Launch Open API Developer Portal

As part of “MasterCard Labs,” MasterCard Worldwide is set to launch its Open Application Programming Interfaces (Open APIs) initiative for third–party and independent software developers around the world. Allowing developers to create a new wave of e-commerce and m-payment applications, this will provide developers with technical documentation, software development kits (SDKs), sample source code, reference guides, and “virtual sandboxes” for testing new and innovative applications. A developer forum designed to spur collaboration between MasterCard engineers and developers will also be an integral component of the new portal. MasterCard has identified approximately 20 platforms and services that it plans to open up to developers via the portal to provide additional functionality and enhancements to payment capabilities. The Open APIs will ultimately further enhance the development of new applications and systems beyond those currently available, including CRMs, ERPs, online games, merchant e-commerce web sites, eWallets, mobile applications, and payroll systems.

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Genesis Financial Solutions Converts $250MM In Credit Card Portfolios

OR-based originator, owner and servicer of credit-sensitive unsecured
receivables Genesis Financial Solutions has converted 60,000 small
business credit card accounts totaling $250MM in receivables to its
servicing platform. Genesis coordinated the conversion among multiple
global investment banks and an institutional investor. As a result of
the transaction, Genesis Financial Solutions is now the successor
servicer for two of the four noteholders, and both successor servicer
and acquirer of the assets for a third. The conversion required Genesis
to develop, analyze and execute a complete Account Management strategy
and implementation plan. Genesis Financial Solutions is known throughout
the industry for managing distressed unsecured consumer receivables and
structuring and executing complicated transactions. Over the past
several years, Genesis has completed several similar transactions,
including the acquisition of a $250MM pool of distressed credit card
accounts from a top five issuer.

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Fresco Logic Rolls Out USB 3.0 Host Controller Chip

Fabless semiconductor Fresco Logic, developers and marketers of USB 3.0
connectivity solutions, has unveiled its “FL1009” two-port USB 3.0 Host
Controller with PCI Express Gen II interface. The “FL1009” is based on
Fresco Logic’s “GoXtream xHCI Accelerator Engine”, which is capable of
delivering performance and is also optimized for low-power
operation while minimizing total system cost and design cycle time.
Fresco Logic’s “USB-IF SuperSpeed USB Logo Certified GoXtream xHCI Host”
accelerator architecture allows each USB port to sustain full bandwidth
of USB 3.0 throughput and provides headroom to support next-generation
true 1080p high-definition video-streaming applications and UASP-enabled
storage devices.
The FL1009 supports xHCI Rev 1.0 specification, USB 3.0 Rev 1.0
specification and is backward compatible with USB 2.0 and USB 1.1.
Customers can benefit greatly by leveraging design
effort and launching multiple product platforms at the same time.

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