TSYS

Payment outsourcer TSYS was named ‘Card Processor of the Year’ by Cards International as part of its 2010 awards. The rationale for the TSYS award was outlined in a statement by the judging panel:
“TSYS, already one of the world’s leading processors, demonstrated its commitment to innovation in 2009 with the introduction of two new card products. It also continued to expand its overseas business in key markets including Brazil and India. TSYS’ Hybrid Card allows credit cardholders to pay now or pay later from multiple checking accounts all on the same card. TSYS also introduced a private label card that can be redeemed for specific products, tracking the barcode data and allowing the issuer to specify which products can be bought with the card, which has obvious social disbursement applications.”
TSYS was shortlisted for the award along with other global processors. The award is based on activities within the last twelve months rather than general excellence. TSYS previously won the award in 2007, in recognition of its successful expansion beyond its home market. Industry experts on the judging panel included: Francesco Burelli, Deloitte; Robert Courtneidge, Salans; Will Cain, VRL Financial News; Victoria Conroy, VRL Financial News; John Hill, Cards International and David Parker, Polymath Consulting.

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OKI ELECTRIC

OKI Electric Industry’s “ATM-Recycler G7” cash-recycling ATM intended for the worldwide market has passed the test mandated by Article 6 of Council Regulation (EC) No 1338/2001 of 28 June 2001. Set forth by the European Central Bank, the Article lays down a framework for the circulation of Euro banknotes to ensure the quality and reliability of circulating Euro banknotes. The European Central Bank has laid down a framework for recycling Euro banknotes to detect and remove from circulation damaged and counterfeit banknotes and to trace counterfeit users, thereby maintaining the quality and reliability of circulating Euro currency banknotes. Central banks in Euro currency countries perform a standard test to vendors that manufacture banknote processing systems to confirm compliance to the framework. The “ATM Recycle G7” is a high-performance, high-quality, high-reliability cash-recycling ATM that draws on OKI’s mechatronics technologies and market experience. Designed specifically to handle Euro banknotes, the new ATM has already passed the Article 6 test, becoming the first cash-recycling ATM provided by an Asia-based vendor to meet this requirement. ATMs must pass this test before deployment in Euro currency countries. OKI plans to market the product in the European market.

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Trustwave Validates PAYM8 As PCI DSS Compliant

Mobile commerce provider PAYM8 has been validated compliant with the Payment Card Industry
Data Security Standard (PCI DSS) through Trustwave information security and compliance solutions. PAYM8
had to demonstrate compliance by thoroughly reviewing its physical
access controls, IT environment and information security policies and
procedures. To maintain their compliance, PAYM8 has enrolled in
Trustwave’s on-demand compliance management solution, TrustKeeper to
access the necessary tools to support on-going compliance such as
quarterly network vulnerability scans. Trustwave is a provider of on-demand and subscription-based
information security and payment card industry compliance management
solutions to businesses and government entities throughout the world.

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PAYM8 PCI DSS

Mobile commerce and financial collections enablement
company PAYM8 has been validated compliant with the Payment Card Industry
Data Security Standard (PCI DSS). PAYM8 has become the third South
African company to achieve this standard. Trustwave, a leading provider
of information security and compliance solutions, performed the validation.
PAYM8 is a “Technology Enabling Company” providing Technology and
Financial Gateway Services to organizations for their Payments,
Collections and Mobile Commerce requirements. Using state of the art
technology in Visa and PCI certified environments, PAYM8 offers access
to their platforms with corresponding application and product expertise
enabling companies to offer M-commerce and Collection solutions branded
in their own name.

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VERIFONE & ORANGE LOGIC

E-payment solution provider VeriFone Holdings is acquiring
the assets of Orange Logic payment systems
provider. Orange Logic was founded in 2004 and has primarily been supplying
electronic payment devices to distinguished customers in the South
Korean retail and banking segments. Effective immediately, Orange Logic will operate as VeriFone Korea and
will continue to manufacture the existing Orange Logic product family.
VeriFone is now the only global payments solutions provider with a
physical presence in South Korea. With the acquisition, VeriFone gains the people and infrastructure to
introduce its secure electronic payment product line into the Republic
of Korea, and an existing domestic product line and customer base.
Although South Korea is second only to the U.S. market with more than
2.5 million deployed electronic payment systems, only 10%-15% of those
meet government security requirements for compliance with the
international EMV standard. Financial terms were not disclosed.

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MOODYS & GOLDEN CC TRUST

Moody’s Investors Service has assigned definitive ratings to the Senior and Subordinated Fixed Rate Series 2010-1 Notes and the Senior Floating Rate and Subordinated Fixed Rate Series 2010-2 Notes issued by Golden Credit Card Trust. The ratings are based on the quality of the underlying pool of credit
card receivables, the expertise of the seller/servicer, Royal Bank of Canada (Aaa/P-1), the transaction’s legal and structural protections, including early amortization triggers, and credit enhancement in the form of excess spread. For each of the Series 2010-1 and 2010-2 Notes, the Senior Notes constitute 95.5% of the total invested amount and are enhanced by the Subordinated Notes which constitute 4.5% of the total invested amount. For the Series 2010-2 Notes, the credit enhancement is sufficient for a fixed rate deal, as the floating interest rate exposure is managed with an interest rate swap, the counterparty for which is Royal Bank of Canada (Aaa/P-1). Moody’s expects performance in the range of 3.0%-4.0% for net charge-offs, 19.0%-22.0% for yield and 33.0%-39.0% for the payment rate. Moody’s performance expectations for a given variable indicate Moody’s forward-looking view of the likely range of performance over the medium term. From time to time, Moody’s may, if warranted, change these expectations. In rating Canadian Credit Card ABS, the payment rate, charge-off rate, purchase rate, yield and certain other inputs are used to calculate the median expected loss and the Aaa enhancement.

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SPS Commerce Adds POS Data From 20 More Retailers

An additional 20 retailers are sending their POS data to SPS Commerce to populate its POS Data Service and Trading Partner Intelligence for POS Service. By sharing POS data, retailers and suppliers can build fact-based partnerships that increase sales, boost margins and optimize inventory levels. More than 120 retailers and grocers are providing their POS data to SPS Commerce. The latest retailers include Bergdorf Goodman, Big 5 Sporting Goods, Blockbuster, Circuit City, CompUSA, Factory Card & Party Outlet, Hancock Fabrics, Harvard Retail, Holt Renfrew, Home Outfitters, Mark’s Work Wearhouse, Max-Wellness, McLane, Micro Center, Myer, New Balance, Staples, ULTA Salon, Cosmetics & Fragrance, Ultimate Electronics and United Stationers.

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Advanced Merchant Launches Android Payment Solution

Advanced Merchant Solutions has launched a payment solution
for the Android, available as a free
application. This enables on-the-go merchants to accept payment cards
anywhere. This application can be used with the company’s Pocket
Spectrum Plus, a Bluetooth 2-track card reader and thermal receipt
printer. The Pocket Verifier/Pocket Spectrum system
enables mobile business users to avoid
“card-not-present” transactions. AMSI further integrates this
breakthrough system into a complete solution by packaging it with a
combined merchant and gateway account; with no upfront costs, no term
commitments, and no cancellation fees.

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ABA President Disapproves of Interchange Amendment

Edward L. Yingling, ABA president and chief executive officer of the ABA issued the following statement following the passage of the amendment limiting interchange fees. “The American Bankers Association is very disappointed that the Senate voted in favor of the amendment that requires the Federal Reserve to promulgate rules limiting the fees merchants pay for accepting debit cards for payment…..The amendment completely upends the existing payment system, and retailers who benefit greatly from the system will pay almost nothing for the costs of maintaining and improving it. Retailers benefit greatly from debit and credit cards in increased consumer spending, lower personnel costs, and protection against fraud. Just picture a gas station where numerous customer transactions are taking place, are paid for with cards at the pump, and only one employee is needed to maintain the register inside the building. The so-called exemption for community banks and credit unions will be completely ineffectual, as both groups stated before the vote.”

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Moneydirect Launches Virtual Credit Card Payment Solution

Moneydirect multi-channel payment processing is introducing its payment solution using virtual credit cards to simplify the payment and reconciliation process. The virtual credit card is processed like a regular credit card; is available in several different currencies; reduces travel suppliers’ invoice processing costs by more than 90%; and improves cash flow with quicker payment. The virtual credit card captures and tracks important booking details, including the reservation code, requester identifier, traveller name, hotel chain code/name, room type, rate code, hotel confirmation number and check-in/check-out dates.

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ALI Solutions Appoints New president and CEO

Thomas J. Miller has been promoted to ALI Solutions’ President and CEO to join the Board of Directors. Having most recently been ALI’s Senior VP of Corporate Development, Miller has been instrumental to ALI’s recent growth since he joined the company, highlighted by 28% revenue growth in 2009. Since having joined the company in 1996, Thomas has served as Chief Financial Officer, head of Global Business Development, and head of Product Marketing. With more than 20 years’ experience in consumer risk management and predictive analytics, he spent seven years at JPMorgan Chase in a senior risk management role where he managed customer credit policy development and implementation for its credit card and revolving line products. Miller received his MBA from New York University, Stern School of Business, and his BS in Commerce/Finance from the University of Virginia, McIntire School of Commerce.

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MicroSD Offers a New Approach to NFC

A lagging deployment of NFC-embedded handsets and the rise of mobile handsets with microSD slots has helped shape a new approach to NFC is sure to result in bypassing handset vendors’ and mobile network operators’ core involvement. ABI Research’s latest NFC study splits NFC IC forecasts into mobile handsets, computer and consumer electronics, and peripherals for mobile handsets. These three markets combined will help drive significant NFC uptake, and NFC ICs will approach 300 million shipments in 2015. MNOs remain the gatekeepers for mass NFC handset rollouts, but over the next five years the emergence of microSD cards alongside other offerings such as active and passive contactless stickers will provide mobile users with initial access to mobile contactless payments.

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