TELPAY

Independent payment processor TelPay Incorporated initiated its first
electronic payment in March of 1985. TelPay pioneered the concept of combining payments into one deposit and sending
detailed remittance reports for billers. This streamlined process allows
any biller partnered with TelPay to increase operational efficiencies.
Today, it offers a patented payment service called “Get Paid Faster”,
which enables businesses of any size to accept electronic payments. It
allows businesses to offer their customers a quick and convenient
payment option that helps them realize faster turnaround on their
accounts receivable. It also helps businesses reduce or eliminate
merchant fees charged by credit card companies. TelPay is the largest independent payment processor in Canada,
processing over 21 million payments worth over 12 billion dollars annually.

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Altera Unveils 28-nm Stratix V FPGA Family

Semi-conduction supplier Altera has announced its next-generation
28-nm “Stratix V FPGA family”, the industry’s highest bandwidth FPGA.
Offering up to 1.6 Tbps of serial switching capability, Stratix V FPGAs
leverage a myriad of new technologies and a leading-edge 28-nm process
to reduce the cost and power of high-bandwidth applications. The Stratix
V FPGA family provides up to 1.1 million logic elements (LEs), 53-Mbits
embedded memory, 3,680 18×18 multipliers and integrated transceivers
operating up to an industry-leading 28 Gbps. The family includes four
variants that address a broad range of applications in the
wireless/wireline communications, military, broadcast, computer and
storage, test and medical markets. The devices also
incorporate the industry’s highest level of application-targeted hard
intellectual property (IP) for increased system integration and
performance without the cost and power penalty.

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Paymetric Posts 150% 1Q/10 Customer Growth

Paymetric secure enterprise payment acceptance solutions announced the first quarter of 2010 saw a 150% growth in the number of signed customer agreements and a 200% growth in monthly recurring revenue year-over-year. Paymetric’s XiPay On-Demand and XiSecure On-Demand solutions enable companies to manage, accept and integrate virtually every type of electronic payment in any enterprise system in an extremely secure, cost-effective way utilizing Software-as-a-Service (SaaS) delivery and tokenization technology, respectively. Paymetric also added to the executive team a new chief operating officer, vice president of SaaS operations and vice president of channel sales. Paymetric supports virtually every type of electronic payment in any enterprise system where payment is accepted.

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Cardholder MPR Drops 55 BPS M/M

Monthly payment rate (MPR), the amount that cardholders pay on their
credit card debt dropped in March by 55 basis points. Historically, the
MPR declines slightly in January, as has been the case since the start
of the current recovery, a trend lost last year with the onset of the
recession. Among managed credit card outstandings, the MPR declined to
18.79% in March. This represents a 19% increase compared to the same
period last year. Consistent with seasonal patterns, MPR usually
experiences a drop in March due to the fewer number of collection days
during the February collection period. However, the rate of decline this
year was much lower, by only 2.84% month over month.According to
CardData, the MPR one-year ago stood at 15.66%. The drop was driven by
seasonal factors as well as fundamental changes in cardholder payment
trends.

MONTHLY PAYMENT RATES
Mar 09: 15.66%
Apr 09: 17.31%
May 09:16.44%
Jun 09: 16.04%
Jul 09: 17.12%
Aug 09: 16.96%
Sep 09: 16.59%
Oct 09: 17.77%
Nov 09: 17.66%
Dec 09: 17.23%
Jan 10: N/A
Feb 10: 15.95%
Mar10: 18.79%
Source: CardData (www.carddata.com)

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BMO

BMO Financial Group strongly supports and will abide by the new voluntary Code of Conduct for the Credit and Debit Card Industry in Canada. Mike Kitchen, SVP of Product Management stated, “We believe that the Minister of Finance has struck a good balance between shifting control over the cost of card acceptance to the merchant, while allowing the payment system in Canada to continue to evolve in the best interest of Canadians and “We are delighted that BMO customers, whether travelling to the United States or elsewhere, can continue to enjoy the security and convenience of carrying less cash by using the BMO Debit Card for debit point-of-sale purchases through the Maestro network.”

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Citi Posts 6% Gain in 1Q/10 Credit Loss

Citigroup today reported 1Q/10 net income of $4.4 billion or $0.15 per diluted share, and revenues having grown $7.5b to $25.4b. RCB net credit losses were $2.2 billion, up $122 million or 6%, due to an increase in loans 90+ days past due in the fourth quarter of 2009 in Citi-branded cards. The $4 million net loan loss reserve build was down from $71 million in the prior quarter. EMEA RCB net credit losses were $97 million, down $41 million or 30%. The $10 million net loan loss reserve release in the quarter compared to a $10 million net build in the prior quarter. Net credit losses in Retail Partner Cards were $1.9 billion, down 2% sequentially, reflecting loss mitigation efforts and continued decline in loans. International net credit losses declined $172 million, or 22%, sequentially to $612 million, reflecting continued improvement in credit trends. Provisions for credit losses and for benefits and claims declined $2.4 billion sequentially to $8.6 billion, the lowest level since the first quarter of 2008. Total provisions for credit losses and for benefits and claims of $8.6 billion declined $2.4 billion or 22% sequentially, to the lowest level since the first quarter of 2008.

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FSV Payment Systems Appoints New COO

George Coutros has been appointed Chief Operating Officer (COO) with FSV Payment Systems prepaid debit card products and processing services. Bringing with him 20-years’ financial services experience, Coutros will manage FSV’s overall operation and will help shape the company’s strategic direction. Throughout his experience, George has served in senior executive positions most recently with CompuCredit, NetBank, Bank of America and Equifax. He holds a BA in mathematical sciences from Johns Hopkins University and a MS in statistics from North Carolina State University.

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Mint.com Now Works With Over 16,000 U.S. Financial Institutions

More than 3 million people now use Mint.com to get a quick, comprehensive view of their banking and financial information, which is expanding to connect with virtually every bank, credit union and credit card account in the United States. Using the aggregation capabilities of Intuit Financial Services, Mint.com now provides transaction information from double the number of accounts, and automatically places it in categories to give people a complete picture of their finances. With this added reach, Mint.com now connects securely and downloads transactions from virtually every U.S .bank with Internet banking capability to connect with more than 16,000 US financial institutions; support more than 17 million individual financial accounts; and add the 20 top-requested financial institutions. Intuit provides business and financial management solutions to financial institutions, including banks and credit unions.

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MONEYGRAM IN GUANGDONG

Global money transfer service MoneyGram International has introduced its services at 930 bank branches across Guangdong province, bringing MoneyGram’s convenient and reliable money transfer services to more than 100 million residents across China’s most populous province.
In addition to the 930 locations in Guangdong, MoneyGram’s service was added last year to all 240 Bank of China branches in Beijing. All locations offer payout in British pounds, U.S. dollars or euros, limiting the fees for currency conversions on all transactions from Europe, the United Kingdom and United States. MoneyGram and Bank of China will continue to introduce money transfer services to more bank branches with all locations active by the end of 2011.
It is estimated that more than $25 billion in remittances-more than half of the total remittances sent into China, were received in Guangdong province in 2008, according to official estimates including reports by the Overseas Chinese Affairs Bureau.

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Vodafone Announce Winners of Wireless Innovation Competitions

The Vodafone Americas Foundation and mHealth Alliance have announced the winners of the second
annual Wireless Innovation Project at the Global Philanthropy Forum Conference.
The second place winner, FrontlineSMS:Credit
was awarded $200,000. FrontlineSMS:Credit has the potential to open
up financial services and micro-financing to millions of people in the
developing world. The application leverages mobile payment systems and
core banking software to bring financial services – such as savings,
credit, insurance and payroll – to the entrepreneurial poor, eliminating
geographic and time barriers and turning mobile payment systems into
platforms for mobile banking. Award winners were selected from a pool of nearly 100 qualified
applicants from universities and non-governmental organizations
throughout the United States. A panel of judges from the fields of
wireless engineering, international development, social entrepreneurship
and business evaluated the applications for their potential to solve
critical global problems in the fields of education, health, access to
communication, the environment or economic development.

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Capital City Reports First Quarter 2010 Results

FL-based Capital City Bank Group reported a net loss of $3.5 million
for 1Q/10 compared to a net loss of $3.4 million in 4Q/09 and net
income of $0.7 million for the first quarter of 2009.
Compared to the linked fourth quarter of 2009, lower operating
expenses of $1.9 million contributed to earnings, but were offset by a
$1.7 million reduction in operating revenues (net interest income plus
noninterest income).
Average earning assets were $2.358 billion for the first quarter of
2010, an increase of $120.7 million, or 5.4% from the fourth quarter of
2009, and an increase of $192.1 million, or 8.9% from the first quarter
of 2009. The improvement from the fourth quarter is primarily
attributable to an increase in the overnight funds position of $190.5
million, partially offset by an $11.3 million and $58.5 million decrease
in the investment and loan portfolios, respectively.

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Cintas To Serve as Participating Member of PCI Council

OH-based secure document management service Cintas Corporation has been selected by the Payment
Card Industry (PCI) Security Standards Council to become a participating
organization of its global forum. Cintas is the first North American AAA NAID-certified and PCI DSS
compliant document management provider. Its document shredding and
storage solutions have been PCI DSS compliant since June 2009, which
certifies they meet the stringent and comprehensive requirements set by
the council and adhere to the information security controls and
processes that ensure data integrity. This membership will enable Cintas to
play an active role in the ongoing development of PCI standards and work
to evolve the PCI Data Security Standard (DSS) and other payment card
data protection standards.

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