NCR Names New General Counsel and Corporate Secretary

NCR Corporation has named Jennifer Daniels as its general counsel and corporate secretary. Most recently having served as VP, general counsel and secretary
of Barnes& Noble, Jennifer will be responsible for all legal matters at the company. Daniels served for over sixteen years with IBM, holding positions
including VP, general counsel for IBM Americas, vice president, assistant general counsel for litigation and most recently, vice president, assistant
general counsel and chief trust and compliance officer (the first in IBM’s history). She holds a JD from Harvard Law School and served as an attorney in
two private law firms in the state of New York.

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Cornell-Mayo Makes POS Software Available on iPad

Cornell-Mayo Associates have released its full suite of back office retail solutions on the iPad as part of its overall mobile strategy. With this, all CM’s
software is available on the iPod touch and iPhone, including its “Omniexpress” POS solution on the iPod touch, complete with scanner and magnetic stripe
reader. iPad orders could exceed six million units if Apple can keep up with demand and ow with CMA’s entire suite of software available, retailers can
enjoy tangible benefits far beyond the mere “cool factor” of the iPad. The software provides real-time in-store reporting and management over store
operations while the “Clientsmart” clienteling solution provides customer database accessible in all business channels and extensive information about
customers with flexible queries available at the POS.

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Banks Need to Tap Into EMV Opportunities

EMV chip technology is being successfully deployed around the world,
initially with the objective of reducing levels of card fraud. Now, as
the number of cards and terminals reaches critical mass in many
countries, innovative banks are increasingly leveraging their investment
in this new infrastructure with applications which enhance or go beyond
payment. According to a new study from Retail Banking Research
(RBR) many banks are not gaining full benefit from the core payment
functions of the EMV chip. Furthermore, there is an increasing range of
added value EMV applications from which banks and others could benefit
such as remote chip authentication, contactless payment, pre-authorised
payment, multi-payment cards, transit cards, loyalty cards, mobile
payments, and a new generic breed of entitlement applications. The
future development of such applications is complex and forecasting is
difficult, but the report uses various models, together with lessons
learned from deployment experience worldwide, to uncover the most
promising business opportunities and how best to make them work. The
potential rewards are significant and there are outstanding
opportunities for issuing banks to grow their markets and increase card
usage and for acquiring banks to extend card payments to new acceptance
environments.

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Moody’s Rates GE Capital $250 Million Credit Card Deal

Moody’s Investors Service has assigned a Aaa rating to the senior $250,000,000 Class A Notes, Series 2010-2
issued from the GE Capital Credit Card Master Note Trust. The Trust consists of private label and co-branded credit card
receivables generated on accounts originated and underwritten by GE Money
Bank. Retailers which are currently included in the Trust portfolio are,
among others, JCPenney, Lowe’s, Sam’s Club, Wal-Mart, Old Navy, GAP,
Banana Republic, Dillard’s, Paypal, and Belk.
The rating is based on the quality of the underlying pool of credit card
receivables, the expertise of the originator, GE Money Bank, and the
servicer, GE Capital Corporation, (Aa2/P-1), the transaction’s legal and
structural protections, including early amortization triggers, credit
enhancement in the form of a spread account for the primary benefit of
the Class C notes, and the Excess Collateral Amount. The spread account,
which is initially unfunded, may increase if excess spread falls below
prescribed levels. The transaction has a March 2015 expected principal
payment date. The Class A Notes constitute 75.0% of the total collateral amount of the
issuance and are supported by two subordinated classes — the Class B
Notes (12.00% of the total), the Class C Notes (8.25% of the total) and
the Excess Collateral Amount (4.75% of the total). Approximately 50% of the
receivables in the portfolio emanate from accounts with an age greater
than 60 months.

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PAC

The Payments Accountability Council (PAC), led by Retail Council of Canada (RCC), the Canadian Council of Grocery Distributors (CCGD) and backed by more than 250,000 Canadian merchants, applauds Finance Minister Flaherty and the Government of Canada for the announcement of a code of conduct for the Canadian debit and credit markets. Though merchants understand the government’s push for voluntary measures as a first step, the PAC advocated for, and supports the inclusion of powers to regulate the market in light of card company practices seen in other countries around the world. The PAC remains focused on the need to provide clarity; the need to provide merchants with effective tools to manage payment card costs; and the need to ensure that the costs built into the system through loyalty and other programs are paid for by those who introduce and benefit from these costs.

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Citi Cards and Citibank Launch Green Promo Rewards

Citi cardmembers and Citibank customers are winning green for going green through eco-promotion by Citi Cards and Citibank to give away $30,000 in cash prizes to encourage customers to go paperless. Citi will also donate 10,000 trees to the Arbor Day Foundation’s Trees for America program. This latest earth-friendly initiative is part of Citi’s on-going worldwide effort to deliver tangible benefits to customers who want to reduce their paper waste. To encourage customers to reduce their paper consumption, Citi will automatically enter customers who enroll in Paperless Statements, as well as Citi cardmembers who enroll in Paperless Letters, now through July 10, 2010, to win one of six $5,000 cash prizes. Citi Cards businesses in 32 countries have planted over 2.3 million trees and saved over 40,000 trees by suppressing over 168 million paper statements and implementing recycling programs. Citi Cards’ efforts are part of Citi’s $50 billion, 10-year commitment started in 2007 to address global climate change through investments, financings and related activities to support the commercialization and growth of alternative energy and clean technology.

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Target to Now Issue Private Label Card

Retailer Target will now issue its Target Credit Card, a credit
product accepted at all Target stores and Target.com. Effective April
29, 2010, Target will no longer issue the Target Visa Credit Card to new
credit card applicants. The comprehensive testing, conducted over the last several months,
demonstrated that guests tend to spend more at Target when issued a
Target Credit Card instead of a Target Visa. As a result, this decision
is expected to produce greater retail sales for Target, while also
reducing the amount of receivables the company funds. Existing Target Visa Credit Card holders will
not be affected.

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Heartland Payment Systems & MICROS Renew Partnership

Heartland Payment Systems and MICROS Systems have reached an amicable settlement of a 2007 lawsuit, and have concluded a restructured and expanded business relationship in which they are now working together to bring new payments solutions to the restaurant, lodging, and retail industries. Heartland is the National Restaurant Association’s official preferred provider of card processing, payroll, check management, tip management and gift marketing services (www.gofullcourse.com) and the official preferred provider of card processing, payroll, check management and tip management services for the American Hotel & Lodging Association. With MICROS, Heartland is finalizing development of interfaces that will better integrate their respective products and collaborating on other product innovations designed to protect transactions originated by MICROS’s Simphony platform, an enterprise, service-oriented architecture POS product for the hospitality industry, with “E3,” Heartland’s end-to-end security solution designed to protect cardholder data from the moment of swipe.

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SCOTIABANK

Scotiabank has expressed support for the voluntary code of conduct for credit-and debit-card companies announced by federal Finance Minister Jim Flaherty. The code will allow merchants to manage costs, while passing benefits along to customers. The industry has one month to review and adopt the measures.
Scotiabank is one of North America’s premier financial institutions and Canada’s most international bank with more than $507 billion in assets.

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SBI Bank Implements TSYS Card Processing

TSYS has been selected by SBI Sumishin Net Bank (SSNB) internet-based bank in Japan to process its payment card portfolio. TSYS will provide processing and back-office operation services for SSNB to issue cards to consumers, including retail membership cards, a proprietary private-label credit card and association-branded credit cards. As an internet-based bank, SSNB has more than 750,000 accounts and plans to use its partnership with TSYS as a means to aggressively expand its card business. A conversion is expected in April of 2010. SBI Sumishin Net Bank (SSNB) oversees more than 750,000 accounts with a balance outstanding of 1.2 trillion yen.

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OKI DATA & DOMUS

OKI Data Americas has contracted with PA-based Domus as the company’s new public relations agency of record as of April 1, 2010. Domus will now manage all public relations services for OKI Data Americas, including media and analyst relations efforts, ongoing public relations strategy and support for launches, and the creation of specialized programs. The centralized public relations team will work to drive awareness of the OKI Printing Solutions brand and deliver one-unified message for both Canada and United States offices. Domus, Inc. has been the advertising/marketing communications agency of record for the U.S. operations of OKI Data Americas since 2000 and the U.S. public relations agency of record since 2004.

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Campus Dough Rolls Out DebitSmart Prepaid Visa

CO-based University Parent Media has teamed with StorValue, the
industry leader of co-branded and rewards-based prepaid cards, and
issuer MetaBank, to issue the “Campus Dough DebitSmart Visa Prepaid Card”.
The reloadable card is a first in several ways for students and parents:
It offers clarity with transparently disclosed fees that are less than
virtually any other similar card; it provides outstanding, 5 to 60%
discounts at thousands of collegians’ favorite places and it arms students and their families with online and
mobile money management tools and online banking for better control of
their finances. University Parent Media recently conducted an informal, qualitative
online survey revealing that half of the respondents were not aware that
the 2010 Credit CARD Act increased the difficulty for those under 21 to
get a credit card without a parent or guardian co-signer. More than one
half of the respondents were hopeful that a debit card could help them
to better manage their finances than a credit card.

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