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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USA Technologies Expands Cashless Vending

USA Technologies has expanded the JumpStart cashless vending program.
In addition to the ePort “EDGE” terminal, the Company is adding the ePort
“G8” terminal to its “JumpStart” program, and giving customers the option of
participating in both the traditional ‘no purchase’ plan and a new
‘GoBo’ (Get One, Buy One) plan option. This will allow customers to receive
hardware devices free of charge if they commit to purchasing the same
number of devices by December 31, 2010. The ePort “EDGE,” which accepts swipe cards only,
one-piece cashless reader and controller combo is PCI Level One compliant.
The JumpStart package also includes the ePort Connect services package
for wireless connectivity, card processing, consumer services, online
reporting, and over-the-air machine alerts. The JumpStart program has contributed to the number of cashless
connections USAT has added to its USALive Network, and accounts for
approximately 79% of ePort unit shipments during the first quarter. There were approximately
73,000 devices connected to the Company’s USALive Network.

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80% of Small Businesses See Economic Conditions Improving

Nearly 80% of the small business owners believe economic conditions are either improving or holding steady. In addition, 39% of small business owners report their company’s financial situation is better than it was last year for an increase of 11 percentage points over 4Q/09 while 38% report a stable financial situation over the past 12 months. This, according to the Capital One Small Business 1Q/10 “Small Business Barometer,” also shows 70% of the small business owners are able to access the credit or financing they need; more than 60% plan to maintain their current level of spending on business development and investments; and 62% do not have plans to hire new talent over the next six months. Meanwhile 69% are looking to grow their business by increasing turnover, sales, and number of customers; 33% would like to expand their premises, add new sites or move into new markets; 48% cite the ability to obtain new customers as one of the biggest challenges they will face; and 30% cite the need to maintain existing customers. Also, 50% of small business owners intend to finance their growth through commercial banks and lenders; 33% intend to finance their growth through personal savings; and 9% intend to use financing from outside partners.

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Datacard Group Appoints New Regional Vice President

Tony Rakun has been appointed the regional VP, sales and service delivery with Datacard Group secure ID and card personalization solutions for the United States and Canada region. Previously the leader of the national account management team, Rakun brings with him years of knowledge to this role and will maintain direct oversight of the national account managers. He will add management responsibility for government sales, indirect sales, technical pre-sales and service delivery teams. Rakun has been with Datacard sales for 25 years and holds a Bachelors of Business Administration from the University of Wisconsin.

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VeriFone Offers Payment Security Monitoring

VeriFone Systems has made available its “VeriFone PED Authentication Service” (VPAS) as an added layer of PIN entry device (PED) security, designed to deter criminal installation of compromised devices at retail locations. This adds an exclusive layer of on-site security to monitor devices for increasingly sophisticated attacks. These sophistications are at the network level, the device level, and the retail environment itself. Initially available with VeriFone’s “VX Series,” “MX Series,” “SC 5000” and “Omni 3700” series devices, the “VPAS” solution with established PIN pad security best practices allows merchants and service providers to significantly upgrade their level of protection using the Unique Manufacturers Authentication Key (UMAK). These bind each device to a physical location at the POS, which then transmit their UMAKs at frequent intervals so that VPAS is able to detect installation of criminal devices.

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FidBook NFC Application Set to Store Multiple Cards

FidBook NFC application, which allows load and use
loyalty cards and coupons on a NFC phone, has officially launched its Nice
by Orange, SFR, Bouygues Telecom and NRJ Mobile. In
addition to transport and payment services, consumers are eager to use
NFC phones as a ‘wallet’ for bulky loyalty cards. AIRTAG creates “FidBook”
a simple NFC application enabling to load, use and manage loyalty cards
on a NFC phone and get advantage of coupons, discounts and premium
services at participating retailers. FidBook features a faster new
program enrollment with a unique Profile Management for all cards. By
waving a mobile phone , the user manages, downloads loyalty points and
get advantages and can display of loyalty accounts.

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SkyWire Media Coupon Connect Award Winner

SkyWire Media’s Coupon Connect was named by Casino Journal’s as a “Top
20 Most Innovative Gaming Technology Products Awards 2009”. SkyWire
Media’s “Coupon Connect” delivers coupons via text message and is fully integrated
with InfoGenesis POS by Agilysys and MICROS 9700 POS systems. The
integration of Coupon Connect to POS allows static and dynamic coupons
to be validated and redeemed directly through the POS.
This validation reduces theft by eliminating fraudulent coupon
redemption. “Coupon Connect” also integrates with Player
Tracking systems, allowing operators to create campaigns that target
their prized database of loyal customers. Marketers can create campaigns
that direct offers based on the player’s level.

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Saelig Introduces Bluetooth POS Printer Adapter

NY-based Saelig Company has released “LM048SPA”, a printer-specific
version of the Bluetooth Class 1 RS232 adapter
especially suited to POS applications. The printer can be up to
100m distant while “LM048SPA” is designed to replace standard RS232 serial
cables connected to printers and is factory-preset for
communication at 19200/8/N/1. This allows the flexibility to
configure LM048SPA to any specific EPOS, POS, or printer application.
LM048SPA supports serial baud rates of
4.8/9.6/19.2/38.4/57.6/115.2/230.4 Kbps. The added security of Bluetooth
V2.0+EDR allows safe and secure wireless data transfer, with
auto-connect authentication via pincode and “Non Discoverable Mode”
activation. LM048SPA has an operating temperature range of -20°C to
+75°C. FCC/CE/ RTTE-certified LM048SPA features a miniUSB socket, so it
can be powered from an included 110V adapter or 5VDC at 90mA from USB
port via a miniUSB-USB cable.

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CARDS II TRUST

Moody’s Investors Service has assigned definitive
ratings to the Class A and Class B Floating Rate Series 2010-1 Notes and the Class A and Class B Fixed Rate Series
2010-2 Notes issued by Cards II Trust.
The ratings are based on the quality of the underlying pool of credit
card receivables, the expertise of the seller/servicer, Canadian
Imperial Bank of Commerce (Aa2/P-1), the transaction’s legal and
structural protections, including early amortization triggers, and credit
enhancement in the form of excess spread. The Floating Rate Series 2010-1 Class A Notes constitute 89.75% of the
total invested amount and are enhanced by a subordinate Class B Note
which constitutes 10.25% of the total invested amount. The Series 2010-1
Notes have a May 15, 2012 expected principal payment date.
The Fixed Rate Series 2010-2 Class A Notes constitute 92.75% of the total
invested amount and are enhanced by a subordinate Class B Note which
constitutes 7.25% of the total invested amount. The Series 2010-2 Notes
have a May 15, 2013 expected principal payment date.
Moody’s expects performance in the range of 4.5%-6.5% for net
charge-offs, 20.0%-23.0% for yield and 33.0%-39.0% for the payment rate.

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NOWY TOMYSL & OPTEVA

Nowy Tomysl Bank has adopted an integrated self-service banking solution from Diebold, Incorporated that includes Opteva hardware, Agilis EmPower software and maintenance services. The contract includes the delivery of two Opteva 328 machines that offer cash dispensing and online deposit in bundles of up to 200 banknotes into a single low-footprint system. The Opteva 328 is also fully ready for automated cash recycling of Polish Zloty and Euro banknotes, offering an opportunity to easily upgrade the system as regulations or business needs require — thus protecting the bank’s investment. To ensure a smooth integration of the Opteva 328 in the bank IT environment, the Diebold Agilis EmPower software features dual server connectivity. The traditional ATMs transactions are driven by the bank’s ATM server while online deposit transactions are processed thru the Softnet branch application of the bank. Therefore, Agilis EmPower enables the addition of an advanced set of transactions with no requirement of an expensive upgrade to the ATM driver. The bank has deployed two Opteva 328 banknote deposit and dispensing systems, as well as five Opteva 522 cash dispenser. The rollout was completed in the third quarter of 2009.

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