Citi Launches Our Promise Program Dedicated to Its Communities

Citibank has launched “Our Promise” to reinforce the bank’s strong and ongoing commitment to its
customers and the local communities it serves. “Our Promise” is an initiative for protecting customer identity with
world-class identity theft and fraud solutions; to rewarding customers
for referring their friends with cash back and rewards points; to
helping customers work toward their financial goals.
The effort kicks off on Friday, May 7, when all Citibank branches in TX,
IL, MA, PA, DC, VA, MD and FL will host customer appreciation events. On
Saturday, June 12, most of these branches will also host family day
events. Activities will vary by market. Customers can visit
www.citibank.com/promises to learn more about the effort and find the
Citibank branch closest to them.

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iMergent Reports Reports 1Q/10 Net Income of $123MM

E-commerce software provider iMergent reported net income for the first quarter of 2010 was $123,000,000 compared to $1,552,000
in the comparable quarter last year. Income before income tax provision
for the first quarter of 2010 was $248,000 compared to income of
$2,778,000 in the comparable quarter last year. Revenue for the first quarter of 2010 decreased 18% to $17,094,000,
compared to $20,921,000 for the comparable quarter last year. The lower
revenue was a result of a 5% reduction in the number of workshops
conducted during the first quarter of 2010 as compared to the comparable
quarter in 2009, a decrease in the percentage of attendees purchasing
products to 26% in the first quarter of 2010 compared to 28% in the
comparable quarter of 2009, a 21% decrease in the number of preview
buyers attending our workshops compared to the prior year quarter, as
well as a 39% reduction in principal cash collected on our receivables
portfolio. The remaining decrease in revenue is primarily related to
commissions derived from third parties which decreased 22% to $2,581,000
for the three months ended March 31, 2010 compared to $3,330,000 for the
three months ended March 31, 2009. The decrease was primarily
attributable to a decrease in commission from third parties as a result
of fewer leads sent to third parties due to a decrease in the Company’s
product and service sales.

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Cantaloupe Systems Launches Cashless Vending

Cantaloupe Systems wireless, cloud-computing has launched its “Seed Cashless” cashless vending solution. Allowing consumers to make purchases from vending machines using their credit cards, eliminating the need for coins or bills, the “Seed” system monitors and reports all vending machine purchases in real-time over the Web. “Seed Cashless” offers significant new benefits for consumers, vending operators and commercial property managers, including; a wider choice of products; vending operators can offer a broader product variety and boost profit margins while maintaining total price flexibility; end-to-end profitability reports taking into account processing, servicing and product costs and credit card fees; and property managers hosts will see their incomes rise.

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PrimeSource Selects OPEN SCAN RPM Software

Open Scan Technologies announced that TX-based PrimeSource Building Products is the newest user of its “Enterprise Receivable
Process Management (RPM) Software”. Open Scan Technologiesdevelops enterprise
receivables process management software for corporations. The software
addresses the entire receivables function from image and data capture
through remittance processing and receivables matching, to deduction /
dispute resolution, to cash application. Corporations, financial
institutions, and government agencies that receive either electronic or
paper payment and remittance documents realize the highest levels of
automation, data accuracy and operational savings for their receivables
processing environments. PrimeSource is the largest purveyor
of fasteners in the world, and one of the largest distributors of
building materials in North America.

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S1 1Q/10 Posts Massive 148% Increase in Net Cash Y/Y

S1 Corporation Reported $18.1 Million in Net Cash From Operating Activities for 1Q/10, a staggering 148% increase over 1Q/09. With this, total revenue
decreased 12% to $51.2 million in 1Q/10, compared to $58.3 million in the first quarter of 2009 and adjusted EBITDA was $2.8 million, compared to $10.6
million in 1Q/09. Net cash provided by operating activities was $18.1 million, compared to $7.3 million in 2009; cash equivalents totaled $48.2 million;
and for all of 2010, the company is projecting total revenue of between $242 to $248 million. S1 is also projecting a 2010 EBITDA of between $39 to $43
million with cash earnings per share of between $0.48 and $0.54. For full details on S1 financial performance, visit carddata.com.

TOTAL REVENUES
1Q/09$58.3 million
2Q/09$60.8million
3Q/09$60.3 million
4Q/09 $59.5 million
1Q/10$51.2 million
Source:Carddata.com

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USA Technologies Reports on Its $3 Million PO

USA Technologies wireless non-cash transactions has received written subscription agreements from institutional investors in the amount of $1,815,003.90 and has received orders from its customers for an additional $663,104.70, for a total of $2,478,108.60 (82.6%) of its previously announced public offering of up to $3 million. As a result, based on the subscription agreements and the customer orders, only $521,891.40 (17.4%) remains available for sale. USA Technologies expects to use the net proceeds of the offering for general corporate purposes, including working capital and providing financing for the manufacture of its e-Port cashless payment products for the Jump Start Program. The company has engaged Source Capital Group as placement agent for the public offering.

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OPERATION HOPE

Operation HOPE (HOPE) Founder John Hope Bryant travels to Tanzania to participate in the 2010 World Economic Forum on Africa and the 7th Annual Young Global Leaders Summit. This year’s gathering centered on “empowering change” and focuses on reinforcing the three pillars of the YGL community: community building, generating insight and undertaking collective action.
Noted for his recent bestseller LOVE LEADERSHIP, Bryant was tapped to lead discussions that focused on “The Role of the Private Sector in advancing high quality education in Africa.” YGLs specifically looked at the lack of funding public schools receive in Africa and searched for ways that the private sector can help support them. Operation HOPE is America’s leading nonprofit social investment banking and financial literacy empowerment organization. With more than 400 private sector partners, 3500 nonprofit organizations and schools, and 100 government partners in 69 major U.S. cities and six provinces in South Africa, HOPE has raised more than $500 million in its pursuit of educating, assisting and inspiring the next generation of global stakeholders in financial literacy, economic empowerment and silver rights.

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Small Businesses Report Slowing Card Sale Declines in 1Q/10

Capital Access Network’s Data Services Division released its 1Q/10
Small Business Credit Sales Report (SBCS Report) indicating both the
restaurant and retail sectors slowed the rate of year-over-year card
sales decline to 6.31% and 11.67%, respectively, from 1Q/09. This
represents the second quarter year-over-year credit sales declines
slowed. Same store credit and signature debit card sales posted their
tenth consecutive quarter of year-over-year decline by 9.16% since the
year-ago period. The Q1 2010 figures seem to be
consistent with the Federal Reserve’s Statistical Releases, G.19,
Consumer Credit, published on April 7, 2010 and March 5, 2010, which
showed revolving consumer credit in the U.S. contracting at 13.1% and
2.25%, respectively. The monthly figures show a year-over-year
accelerating positive trend. January 2010 showed a 12.42% decline in
card sales from January 2009. February 2010 showed a 10.90% decline from
the February 2009 levels. In March of 2010, the card sales decline
slowed to 4.83% from March 2009. The strongest performing segment in the
data was Restaurants with average tickets of less than $25. In that
category, March 2010 was essentially flat to March 2009, showing only a
0.51% decline. During the 2010 Valentine’s Day period, defined as
February 12–16, restaurants showed a year-over-year card sales decline
of only 2.90%, compared to the entire month of February 2010, which
experienced a decline of 6.34% versus February 2009.

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SCA Adds New CSCIP/G Smart Card Certification

The Smart Card Alliance has introduced an additional smart card
certification program, “The Certified Smart Card Industry
Professional/Government (CSCIP/G) designation and announced its first
two CSCIP/G exams, which will be held on June 29th and November 19th,
2010 in Washington, DC. Part of the Alliance’s Leadership, Education
and Advancement Program (LEAP), CSCIP/G is an extension of the Certified
Smart Card Industry Professional (CSCIP) designation. The body of
industry knowledge covered by the CSCIP/G certification includes the
same fundamentals as the CSCIP certification, and adds in-depth content
about U.S. government identity credentialing programs and technologies.
These educational modules prepare applicants for the CSCIP/G exam
administered by the Smart Card Alliance. The CSCIP/G certification exam
will cover: smart card fundamentals and security features; smart card
application and data management; smart card usage models;FIPS 201 and
common identity, security and privacy requirements; PIV card, physical
attributes, data elements, logical credentials and cryptographic
specifications; PIV card issuance and lifecycle;FIPS 201 and biometrics;
assurance levels
use cases for physical and logical access and Federal PKI infrastructure.

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BoA Takes Best In Class for Fraud Protection Programs

Javelin has released its “Annual Card Issuer’s Safety Scorecard” which
reviewed 26 card issuers on a total of 50 research-derived criteria
within the categories of fraud Prevention, Detection, and Resolution
with Bank of America taking the overall top honors for the fourth
consecutive year, followed closely by Discover and U.S. Bank. In the
individual areas, U.S. Bank took top honors in Prevention, leaders in
detection include Bank of America, Discover, Wells Fargo and HSBC and
Bank of America, Discover, Navy Federal Credit Union and State Farm tied
for top issuers in Resolution. Javelin added more stringent criteria
this year and allotted 45% of the overall score to fraud prevention.
The greatest majority of legislatures are in compliance with Red Flags
rules and fraud has dropped by more than half. As a result of the
requirement to alert a consumer when an address change is made, physical
address changes are no longer the top method of taking over an account;
criminals have shifted to adding a registered user to the account.
Javelin created the scorecard criteria based on their annual Identity
Fraud Survey report and developed scores for each issuer through mystery
shopping an average of six customer service reps (CSRs) from each of the
top 26 card issuers and compiling publicly-disclosed information
provided by each issuer. The report is also derived from in-depth
interviews with several security professionals and expert Javelin
industry analysis and focuses on features that work in partnership with
the customer that include: policy leaders must adapt their fraud
mitigation systems rapidly, addressing the specific areas that criminals
have now moved on to; issuers improved in fraud resolution, but need to
step up their efforts in fraud prevention and detection and two-thirds
of consumers rate alerts as an extremely or very useful tool to mitigate
fraud.

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CYVEILLANCE & PROTECTION POWER

Cyveillance and Opie Marketing Group, owners and operators of Protection Power, have announced a strategic alliance to bring Cyveillance’s advanced detection of compromised credentials on the Internet through Cyveillance Identity Theft Protection to Canadian consumers for the first time, further strengthening Protection Power’s service offerings and its position as Canada’s top consumer identity theft protection service. Cyveillance technology comprehensively monitors the open Internet to discover leaked or stolen personal information. As sensitive personal data is discovered, Cyveillance Identity Theft Protection provides the updated intelligence to Protection Power that, in turn, alerts members to take proactive steps to combat and minimize the damage of the fraud. Cyveillance Identity Theft Protection provides real-time access to the same intelligence used by many of the top credit card issuing banks and credit unions. This intelligence enables organizations to reduce fraud-related losses through the proactive detection of high-risk transactions and empowers consumers to take steps to protect themselves before fraud occurs.

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Trustwave Delivers Comprehensive Data Privacy

Trustwave information security and compliance solutions has made available its “Data Privacy Program,” comprised of security services to help businesses protect customer personally identifiable information (PII). With data privacy laws in 46 states and legislation designed to protect PII is currently pending on the federal level, Securing sensitive consumer data has become a required process. Indirect costs such as brand damage can result in loss of business and deterioration of market value. The Trustwave “Data Privacy Program” offers assistance in developing applicable security policies for the protection of personal information; discovery and classification of personal information stored in the corporate environment; encryption of personal information at rest and in transit; identification of asset vulnerabilities and employee education regarding computer system and personal information security. Key components of Trustwave’s program focus on Physical Data Privacy (PDP) and Electronic Data Privacy (EDP).

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