First Federal Bank Selects FIS for Core Processing Technology

Payment technology provider FIS has signed a comprehensive
agreement with OH-based First Federal Bank (FFB) for FIS’ Integrated Banking
Services (IBS) core banking platform. FIS’ IBS is a highly flexible and open core banking solution that
accommodates financial institutions interested in integrating innovative
technology with minimal risk and disruption to their business operations
and customers. IBS is recognized for its robust functionality,
scalability and strong integration capabilities.
Through this agreement, FIS will
also deliver a host of integrated banking and payment solutions to the
bank including ATM/EFT processing, bill payment, CRM, decision support
and analytics, eBanking, image, mortgage loan origination, mobile
banking and Web hosting technology. First Federal Bank is a wholly-owned banking subsidiary of First
Defiance Financial Corp., with assets of $2.1 billion.

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UNIONPAY

Global Payments Asia-Pacific has launched the China UnionPay card acceptance service in Brunei, the Maldives, the Philippines, Singapore and Sri Lanka. This service allows mainland Chinese tourists to pay for goods and services with their CUP cards at merchants served by Global Payments. The extension of the CUP service to those five markets marks another major milestone for Global Payments’ CUP card acceptance program, which was started 6 years ago in Hong Kong and has since grown successfully into Macau, Malaysia and Taiwan. With more than 2.1 billion CUP cards in circulation and the rising number of Mainland Chinese travelling around Asia, the new service empowers Global Payments merchants in Brunei, the Maldives, the Philippines, Singapore, and Sri Lanka to capture the rising spending trends of the mainland Chinese visitors, who presently pay mostly with cash.

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EBAY & YOUNG BAE KU

eBay Inc. and Young Bae Ku, the founder of Gmarket,
Korea’s leading e-commerce company acquired by eBay in 2009, today
announced a joint venture agreement to expand Gmarket’s existing online
marketplaces in Japan and Singapore. The agreement will strengthen
eBay’s presence in Japan and Singapore – where the e-commerce markets
are expected to grow by 30% and 13% respectively between 2009 and
2012-and provide a foundation for longer term expansion of Gmarket into
other Asian markets. eBay will have a 49% stake in the joint venture, and an entity owned by
Mr. Ku will have a 51% stake. eBay will contribute assets from Gmarket’s
existing Japanese and Singaporean businesses to the joint venture, and
eBay and Mr. Ku will make financial contributions of approximately US$10
million each to the joint venture. eBay will also license Gmarket’s
technology and brand on behalf of the joint venture, while Mr. Ku will
provide local management expertise. In June 2009, eBay Inc. acquired Gmarket for a total cash purchase price
of approximately $1.2 billion. Gmarket is Korea’s leading online
marketplace, and is a key component of eBay’s Marketplaces segment. The
acquisition strengthened eBay’s e-commerce business in Korea and
provided a platform for the company’s expansion throughout Asia.

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Discover a Partner for NAFCU Payment Network

Discover has been addded to the NAFCU Services Corporation “Preferred Partner Program” for national payment network solutions for credit unions. Through its national payment network solutions, Discover will provide NAFCU members with credit, debit and prepaid card programs built to attract and retain members through expanded, enhanced and competitive solutions.
After having undergone extensive evaluation from the NAFCU Services Advisory Committee and Board of Directors, Discover has been awarded the go-ahead to meet the needs of credit union issuers. With this, NAFCU member credit unions receive special benefits on Discover’s payment solutions.

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NRF Urges Governor to Sign Vermont Credit Card Bill

The National Retail Federation is urging Vermont to sign legislation that would make it easier for
merchants to give a discount to customers who pay by cash, check or
debit card rather than credit card. In a voice vote held on Tuesday, the state Senate unanimously agreed to
amendments made in the House. The bill initially passed the Senate 30-0
on March 31 and cleared the House 139-0 on April 29 and now heads to
Douglas. If signed into law, the bill would allow Vermont retailers to set a
minimum credit card purchase of up to $10 without interference from Visa
and MasterCard, which currently bar minimum purchase amounts in their
rules. Retailers have long wanted freedom to set minimum purchase
amounts because swipe fees can exceed a merchant’s profit on small
purchases, Duncan said. Card companies would also be prohibited from dictating how merchants
price items or blocking a merchant from giving a discount for cash,
checks, debit cards or credit cards with lower-than-usual swipe fees.
Cash and checks are not subject to swipe fees, and PIN debit cards are
generally cheaper for merchants than credit cards or signature debit
because they carry lower fees. Visa and MasterCard also could not force
a retailer to accept cards at all store locations if the retailer only
wanted to accept them at some locations.

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Radiant Systems Reports 1Q/10 Revenues of $79.5mm

Radiant Systems announced total revenues of $79.5 million for 1Q/10, exceeding Company guidance to represent an 18% increase over the $67.6 million in revenues posted in 1Q/09.
Recurring revenues were $35.9 million, an increase of 15% over the same period in 2009, to represent 45% of total revenues. Adjusted net income (non-GAAP) for the period was $5.8 million, or $0.17 per diluted share. The results represent an increase of $1.2 million, or $0.03 per diluted share, compared to the same period in 2009 and exclude amortization of acquisition-related intangible assets, employee stock compensation expense and other charges and income. Net income for the period was $2.6 million, or $0.07 per diluted share, an increase of $1.6 million, or $0.04 per diluted share, compared to the same period in 2009.

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Alaska Option Selects S1 EFT & Processing

Alaska Option master debit switches has licensed the S1 Payments solutions for its EFT switch and processing platform. Alaska Option selected the open-systems architecture from S1 to replace its current system which has been in place since 1998. S1’s Payments solutions for ATM and retail point-of-sale driving, card management, and merchant -acquiring are used by more than 325 customers in over 50 countries worldwide. With the latest success at Alaska Option, S1 will be replacing another legacy payments system with the flexible, open-systems architecture of its S1 Payments solution.

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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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