LUX VISA

Entertainment group Stratus Media Group announced the signing of a Co-Branded Credit Card Agreement with Cornèr Bank to offer the Stratus Rewards VISA White card. Cornèr Bank is an important private bank that is one of the top VISA card issuers in Switzerland and a founding member of VISA. Stratus Rewards is a division of Stratus Media Group, Inc. and is a by-invitation-only lifestyle club and credit card rewards system created expressly to support and enhance the affluent lifestyle. Cornèr Bank Ltd. offers various banking services to private, institutional, and corporate customers in Switzerland. It also offers private banking services, such as investment consulting, asset management, and tax and retirement planning services.

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Heartland Commercially Launches Payment Card Security Terminal

Heartland Payment Systems has launched its new payment card security terminal for merchants and business owners nationwide. Having spent more than two years developing and ten months beta testing and iteratively improving the end-to-end encryption technology, Heartland’s “E3” is designed to protect cardholder card data with scrambled data. Protecting against data breaches, “E3” features layers of security using both software and tamper-resistant hardware with “Advanced Encryption Standard of encryption” (AES). Once a merchant purchases an “E3” terminal or PC-based magnetic stripe reader/wedge, they will experience no changes to their daily routine or the speed of transactions, will have available EMV/chip card technology capabilities and the ability to update encryption technology. The terminal automates the process of continually changing the encryption keys that convert sensitive account information to encrypted data and, if ever breached, Heartland will reimburse a merchant’s breach-related fines.

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FICO Patents 8 New Analytic Techniques

FICO has been awarded 8 new patents by the U.S. Patent and Trademark Office
to the FICO Labs team. The patents cover credit score interpretation, fraud detection, credit
line optimization and other analytic technologies. Three recent FICO patents address the problem of fraud,
including a method for determining whether applications for credit
originate from legitimate applicants or fraudsters; a system that will help
detect and take action on mass compromise of
ATMs; and for a mechanism that finds possible fraudulent
transactions and identifies potential fraud based on specific
credit account data. These inventions were developed to be part of the
FICO™ Falcon® Fraud Manager system, which protects some 65% of the
world’s credit cards. FICO was awarded a patent
for a new method for simulating an analytic value chain. This invention
uses analytics to determine how to optimize the profit of a portfolio of
credit accounts by selectively extending credit line increases to
individuals, based on simulation and development of “learning strategies.”

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Microchip Technology Sells NAND Drive to Greenliant

Microchip Technology Incorporated microcontroller, analog and Flash-IP solutions has consummated the sale of certain non-core assets from its Silicon Storage Technology (SST) subsidiary to Greenliant Systems. The product lines sold included NAND Drives, NAND controllers, Smart Card ICs, Combo Memory, Concurrent SuperFlash, Small-Sector Flash and many-time Programmable Flash memories. The sale included inventory, equipment, intellectual property, and certain other assets and liabilities associated with the product lines. Approximately 100 employees (18% of SST’s workforce) transferred to Greenliant as part of this transaction. SST also agreed to provide certain transition services to Greenliant for up to 90 days.

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Merchant Warehouse to Exhibit Pay @ the Table

Merchant Warehouse merchant accounts and credit
card processing solution provider will be showcasing the company’s innovative
“Pay @ The Table” with “BINsmart” solution at the annual National Restaurant
Association Show 2010 in Chicago.
The “BINsmart” solution is a cost-saving technology that
helps small and mid-sized merchants maximize the value of every sale by
reducing their overall payment processing costs. BINsmart helps
merchants process transactions at the lowest possible cost by
automatically identifying the card type being used in the transaction,
and prompting the merchant for additional information or for a PIN
number for debit cards. Merchant Warehouse recently
integrated this technology with “Pay @ the Table” terminals, secure
wireless payment devices that bring payment to the customer in a fast,
efficient and secure manner, allowing customers to pay with credit and
debit cards at their table. Restaurant merchants can improve both the
customer experience and their operational costs, by turning tables more
quickly and creating more waitstaff efficiencies.

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New Report Pairs Bank Satisfaction With Cash Management Technologies

A new report identifies weaknesses in vendor-built cash management solutions and makes
recommendations as to how these solutions can be enhanced to better meet
the needs of large financial institutions and their increasingly
demanding customers. Based on the results of Aite Group’s
online survey of 16 large U.S. based cash management institutions
as well as in-person and telephone
interviews with leading vendors and industry thought leaders, the report
shows that large banks depend heavily on vendor-built solutions, and
that approximately one-quarter of them are likely to invest in cash
management/treasury technologies over the next two years. Vendors must
further enhance solution reporting capabilities, ease of use, and
international functionality to win this business.

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Fiserv Appoints New Global Head of Investment Strategy

Singapore Exchange (SGX) post-trade executive, Terry Gibson, has been appointed global head of strategy for Investment Services with Fiserv financial services technology. In his new role, Gibson will lead the international business strategy and product development of the Fiserv institutional and managed account technology portfolio. A 20 year industry veteran, Gibson was most recently senior VP and head of Product Management at SGX, where he drove the growth of the exchange’s post-trade business and built its reputation as one of Asia-Pacific’s most innovative clearing and settlement venues. He led the development of several post-trade infrastructure projects, including the SGX Prime pre-settlement matching service powered by the Fiserv “TradeFlow” solution. Gibson’s extensive securities background also includes multiple director-level roles at the Depository Trust & Clearing Corporation (DTCC), where he grew the credit and equity derivative STP product business and led the global expansion of the Deriv/SERV platform.

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Mocapay Platform Goes Full Cycle

Mobile experience platform provider Mocapay has announced a strategic
partnership with CO-based Full Cycle high-end bicycle retailer. Full
Cycle will work with Mocapay to complement its marketing program by
mobile-enabling its existing gift card program. Mocapay’s embedded
marketing engine will be used to deliver targeted mobile offers to
customers. Mobile campaigns can be directed to all customers throughout
Colorado or targeted to specific store locations. Full Cycle mobile account holders will be able
to conduct mobile transactions at the POS, access their
account balance and transaction history, and reload their Full Cycle
account, all from their mobile phone. Using the customized
Mocapay Dashboard, Full Cycle can monitor the effectiveness of
individual campaigns in real time. Mocapay’s SaaS technology also enables Full
Cycle to integrate secure mobile payments into its POS. Mocapay mobile
payment secures mobile transactions
through multifactor authentication to ensure security measures are not degraded
in the mobile form factor.

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DebitFacts.org Launches Debit Card Video Contest

DebitFacts.org online educational resource focused exclusively on debit, kicks off the “Are You Debit Smart?” video contest, inviting US consumers from now until July 4 to share success stories related to using a debit card as a preferred form of payment. Contestants could win up to $5,000 on a prepaid Discover Card and a money-management session with a financial counselor. Designed to promote the many benefits of using debit, the contest encourages consumers to highlight why they use their debit card, what they buy with debit, when they use it and much more. Entries will be judged by a panel of experts from the financial and creative fields, for which a second-place prize of $2,500 and third-place prize of $1,000 will be awarded via prepaid Discover Cards. Each of the top three prize winners will also receive personal consultation time with Judy Lawrence, financial counselor and coach, author of “The Budget Kit” and founder of www.moneytracker.com. Additional details can be found at http://www.debitfacts.org/are-you-debit-smart/.

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M&A Activity On the Rise In Merchant Acquiring Sector

Acquisitions are heating up in the merchant-acquiring business,
according to management consulting firm The Strawhecker Group’s research
and their recent client engagements.The Strawhecker Group (TSG) says to
look at the payments industry. Buyers are seeking acquisitions or joint
ventures with properties ranging in value from $1 million to $75
million. The target acquisitions include enterprise, static merchant
portfolios, and portfolios with sales engines or additional payments
technology capabilities. Buyers are primarily interested in portfolios
on TSYS, First Data, and Global, as well as portfolios focused on
strategic verticals. TSG regularly releases data to help buyers, sellers
and capital investors get accurate and reliable valuations. In April,
TSG completed a review of 72 transactions that took place from 2000 to
2010 in the merchant acquiring space, which included analysis of
enterprise and merchant portfolio net revenue multiples. The firm has
prepared nearly 40 valuation assessments since June 2006, with
individual values ranging up to $150 million. In aggregate, these
analyses represent more than $1.7 billion in value.

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Givex Gift Card Programs Certified with POSqx

Closed loop gift card provider Givex announced that its gift card
programs have been certified with POSqx by CA-based SumGuys. POSqx
was specifically developed for the Restaurant and Food Service industry.
Unlike other POS systems, POSqx is a cloud-based POS solution,
delivering services and applications to a terminal as needed. Businesses
gain access to comprehensive infrastructure for processing while
avoiding large capital expenditures. The Givex integration enables POSqx
users to start selling and redeeming gift cards, gaining access to a
powerful new revenue stream and technology for customer acquisition.
Givex provides a broad range of profit enhancing processes that
seamlessly integrate gift cards, loyalty engines, e-couponing and
targeted email campaigns. This innovation is also backed up by years of
experience and the relentless pursuit of excellence that defines our
technology and client support. Sum Guys Inc. is an innovations company
in the Point-Of-Sale (POS) and payment processing solutions industry for
retail and hospitality.

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