TNS and Blue Bamboo Partner to Extend WI-FI Payment Reach

Transaction Network Services is partnering with Blue Bamboo,
allowing ISOs, acquirers and processors to enable TNS’ Synapse wireless payment gateway
to extend acquiring opportunities to a new segment of
merchants who are interested in using smartphone devices to accept card
payments from their customers. The smartphone solution provides a PA DSS certified Java-based applet
that runs on mobile handsets, enabling mobile merchants to perform
card-swipe transactions on a variety of equipment, including certified
Blackberry, Nokia and Motorola devices. In addition to the mobile phone POS payment solution and device
management via Synapse, TNS will soon be supporting the all-in-one Blue
Bamboo “H50 terminal.” This has a unique modular design giving merchants
the flexibility to accept credit and debit transactions, and the ability
to easily convert the GPRS mobile wireless transaction device to a
Bluetooth, Ethernet or Dial-Up-modem terminal. TNS’ Synapse solution includes wireless network access, account
activation, fast, reliable and secure transaction delivery to most major
processors, web-based merchant and terminal management, customizable
online reporting, and live 24×7 customer service. On a fully PCI DSS
certified processing platform, it offers a broad range of end-to-end
services for ISOs and mobile merchants.

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Trustwave Joins Non Profit Application Security Forum

Trustwave’s “SpiderLabs” advanced security team responsible for incident response and forensics, penetration testing and application security and security research has joined the Forum of Incident Response and Security Teams (FIRST). FIRST is a non-profit organization and recognized global leader in incident response, membership in which allows incident response teams to more effectively respond to security incidents by providing access to best practices, tools, and trusted communication with member teams. Trustwave will participate with other FIRST member teams to provide information exchange and cooperation on issues such as new vulnerabilities and common attack techniques. FIRST members have resolved an almost continuous stream of security-related attacks, handling thousands of security vulnerabilities affecting millions of networks throughout the world.

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Panini Embarks on Brazil Market with Tecpoint

Panini distributed check capture and Brazil-based Tecpoint banking and payments technology have partnered to allow both companies to assist banks with the emerging distributed check capture market in Brazil. With this, Brazilian financial institutions will be moving to distributed check capture this year. The combination of Tecpoint’s Sistec solution and the Panini family of check scanners offer a compelling solution for this new payments initiative. Panini introduced their newest check scanning platform, the Panini I:Deal, which can now allow Brazilian financial institutions to truncate paper checks at the earliest point of presentment. Captured images can then be processed and cleared electronically, reducing the costs and procedures associated with physically transporting paper items.

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ECCU Selects Arcot Systems for Secure Online Financial Transactions

Evangelical Christian Credit
Union (ECCU) has selected Arcot Systems authentication provider
to provide secure online financial transactions for ECCU’s
church, Christian school and missionary account holders in more than 100
countries. ECCU chose Arcot’s “A-OK On Demand Cloud Authentication Service”. The
service includes Arcot’s WebFort® versatile authentication, which
provides strong authentication to prevent fraud when accessing online
accounts and other secure documents, products, and services.
ECCU is a banking resource for churches, Christian schools and other
evangelical ministries throughout the United States. With more than $3.2
billion in total assets under management, ECCU offers a full range of
financial services and solutions to help evangelical Christian
ministries better manage their financial resources.

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Cypress Introduces Device Selection for Perfect PSoC Solution

Cypress Semiconductor has introduced its “Electronic Product Selector Guide” online product selection tool for its “PSoC 3” and “PSoC 5” architectures. Now available at www.cypress.com/go/PSoCePSG, the selection tool streamlines the selection of the optimal PSoC device based on the peripheral functions a designer wants to implement in the programmable analog and digital resources. As a user makes selections in the tool’s intuitive user interface, the “Results” field of applicable parts dynamically narrows down, displaying the part with the best match first. The “Electronic Product Selector Guide” allows designers to easily customize the number of ADCs, DACs, comparators, OpAmps, PGAs, TIAs and mixers needed in the analog subsystem; the number of timers, PWMs, counters and communications interfaces, including I2C, SPI, UART, I2S, Full-Speed USB and CAN, needed in the digital subsystem; and the speed, microcontroller core, memory, voltage, temperature range and package in the CPU subsystem.

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Cubic’s Compass Card Picked Up by Commuters

Cubic Transportation Systems has delivered the new regional smart card system. Compass will be rolled out
to the last of the region’s pass holders in April, with full deployment
expected a month later. The Compass Card is a reusable, reloadable transit pass that is
replacing traditional paper passes. Riders “tap” their cards on
electronic validators as they board buses and at Trolley and train
stations to access transit. Cubic’s open platform Nextfare system
captures Compass Card usage by station providing better ridership data
for service planners and integrates fare product sales
devices, station validators and other revenue collection devices
providing streamlined reporting and management.
Nextfare Internet module for sales and
distribution makes it possible for a Compass Card user to log on to
www.511sd.com and purchase monthly passes. The accountholder
automatically adds the pass to the card by tapping at any fare device
the next time the customer rides transit. Almost two-thirds of San Diego County’s 90,000 active pass users have
converted to the Compass Card since the San Diego Association of
Governments (SANDAG) introduced it last May.

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Wet Seal a Victim of Gonzalez Data Theft

Specialty clothing retailer Wet Seal was a target of the credit card
data theft ring headed by convicted hacker Albert Gonzalez.
Wet Seal detected the data breach in May 2008. Through an investigation
led by an independent,
third-party computer forensics firm, and corroborated by members of the
U.S. Secret Service and U.S. Department of Justice, there was no
evidence to
indicate that any customer credit or debit card data or other personally
identifiable information was taken. The Company implemented
systems enhancements and has passed the most recent information security
audit to achieve compliance under the Payment Card Industry
Data Security Standard (PCI DSS).

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iPayment Posts 2009 Revenue Loss of $77MM

iPayment has released its full year 2009 revenues ended December 31st of the year, which totaled $717,928,000. These totals are down $76,897,000 from the 2008 total figure of $794,825,000 thanks to the challenging economic environment. Revenues, net of interchange, declined to $320,398,000 for 2009 compared with $344,255,000 for 2008 while net income was $11,740,000 for 2009 compared with $14,303,000 for 2008. The Company filed its Annual Report on Form 10-K for 2009 with the Securities and Exchange Commission today. iPayment provides credit and debit card-based payment processing services to approximately 140,000 small merchants across the United States.

REVENUE HISTORICAL
4Q/08: $193.0 million
1Q/09: $170.1 million
2Q/09: $190.2 million
3Q/09: $182.7 million
4Q/09: $174.9 million
Source: CardData (www.carddata.com)

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Comdata Corporation Supports, Participates in PCI DSS

Comdata Corporation, provider of the new Smart Solutions suite of point-of-sale systems for travel plazas and convenience stores, now supports the PCI Security Standards Council. As a participating organization, Comdata works with the Council to evolve the PCI DSS and other payment card data protection standards. The standard is endorsed by American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa and requires merchants and service providers that store, process or transmit customer payment card data to adhere to information security controls and processes that ensure data integrity.
As a participating organization, Comdata has access to the latest payment card security standards from the Council, is able to provide feedback on the standards and is part of a growing community that includes more than 500 organizations. Comdata convenience store POS issuer and a processor allows more than $23 billion in fleet card, credit card, paycard and virtual card transactions annually. Over 1.8 million Comdata cards are issued annually, and active cards at any given time total approximately 1.5 million.

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Trustcash to Acquire 25% of Alligato to Launch mPayment

Trustcash has signed a definitive Term Sheet outlining the terms for the acquisition of 25% of Alligato. Trustcash has also agreed to enter into a software development agreement with Alligato for the purposes of developing a Mobile WAP based payment platform and providing ongoing technical support. Pursuant to the Term Sheet Twenty Five Thousand dollars was advanced to Alligato to begin work on the new mobile platform. Alligato comprehensive voice 2.0 platform infrastructure provides the first truly open access to carrier-grade telecom functionality with hardware, software and network capacity to lower the cost of cell phone long distance from the wireless network to the Public Switched Telephone Network (PSTN) as an on-demand, fully hosted and managed service in a CaaS (Communications as a Service) model.

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37% of Debit Users have NSF Covered By Overdraft Protection

Of the more than 350
million U.S. debit
card holders, 37% have had an insufficient funds transaction
covered by an overdraft protection program within the past year.
Before the recession, the
overdraft protection market was predominantly made up of light and
moderate NSF users — with a small number of heavy users accounting for
the vast majority of overdrafts and NSF fees. As of March 2010,
according to NE-based ACTON Market Intelligence conducted in
February and March, a
majority of overdrafters remain light users (1 to 4 ODs per year).
However, more than one-in-three of the over-drafters are heavy users,
accumulating more than 10 overdrafts per year. That data suggests that
some non-over-drafters became light users, and moderate over-drafters
became heavy users, which considerably widens the market affected by
Regulation E. Users tend to
average around 42 years old, white
female, empty nesters, who tend to own rather than rent their homes, and
have annual household incomes of $48,500.

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