Moody’s Downgrades Three Classes of Asset Backed Notes for CompuCredit

Moody’s Investors Service has downgraded the ratings on three classes of asset-backed notes issued by the
CompuCredit Acquired Portfolio Business Trust (“APBT”). Placed under review for downgrade four classes
of notes issued by the APBT, and all five classes of rated notes issued from the CompuCredit Acquired
Portfolio Voltage Master Business Trust (“Voltage MBT”), these notes are all backed by revolving pools of
primarily sub-prime, unsecured, general purpose VISA credit card receivables. Collateral performance has
deteriorated since 1H/09 and the company’s ability to renew one of its key funding sources remains in
question. CompuCredit filed WARN notices with several state labor departments, indicating the company’s
intention to reduce headcount across its servicing and customer service call centers. CompuCredit
reductions in staffing or
disruptions in operations may further compromise the ability to collect outstanding
receivables and a subsequent increase in charge-off rates.

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Epson Rolls Out TM-T88V Thermal Receipt Printer

Epson has introduced the new TM-T88V thermal printer with ENERGY STAR qualified configurations. Epson has a strong commitment to product lifecycle sustainability and a long history of environmentally-conscious design and manufacturing. The TM-T88V has been designed to meet ENERGY STAR qualifications, and is the only POS thermal receipt printer available today with ENERGY STAR qualified configurations. The TM-T88V includes a paper reduction setting which reduces white space between receipts to minimize paper use. The TM-T88V’s easy-to-use features include drop-in paper loading, an autocutter, easy-to-read LEDs and an improved cover design that prevents foreign objects, like coins and other debris, from getting inside.

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PreCash Launches Transaction Fee-Free Card

PreCash is introducing its general purpose reloadable prepaid debit card with free transactions, targeting the 65 million Americans without access to credit cards and other mainstream electronic payment methods. The card is part of the prepaid debit card provider’s move to offer flexible pricing for its “Vision” Visa Prepaid brand and to offer a greater choice of products that meet the diverse needs of consumers. The Vision “Preferred,” Vision “Premier” and Vision “Platinum” all offer Direct Deposit, online bill pay, text message and e-mail alerts. Vision “Platinum” reloadable card offers free transactions and is designed for those who spend $1,000 or more monthly with a card. The Vision “Premier” Visa, meanwhile, is designed for those who may not spend more than $1,000 each month and the Vision “Preferred” Visa is for those who want a payment vehicle and prefer to load the card at retail locations. PreCash has more than 5 million active customers and services more than 25,000 national retail, wireless dealers and independent retail locations nationwide.

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Online Transactions Up 11% Y/Y

U.S. online transactions grew
by 11% in 2009 while the share of total retail sales
represented by online transactions reached 5.5%
in 2009. The total retail purchases declined
in 2009, but the dollar value of e-commerce sales climbed from $185 billion to $205 billion despite the weak economy, according to the latest
Javelin Strategy report, “Online Retail Payments Forecast 2010 – 2014”. Additional findings show the use of major credit cards for online
purchases continued to decline in 2009, but credit cards remained strongest in the vital
categories of purchase volume and per-item transaction value. Meanwhile, debit-card use continued its online growth as the faltering
economy, rising unemployment, and tight credit market motivated consumers to persist in their shift to pay-now instruments.

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Over 52% of Credit Unions Now Implement Remote Deposit Capture

Over 52% of credit unions indicated they currently have at least one type of remote capture solution implemented, 63% of which have instituted a branch capture platform, 20% rely on teller capture solutions, 9% have an ATM capture solution, 4% offer merchant capture and another 4% offer home or member capture. These findings, according to Bluepoint Solutions’ “2009 Remote Deposit Capture for Credit Union,” also show 42% indicated they currently had initiatives in place while 46% are exploring the service. Bluepoint Solutions remote deposit capture (RDC) innovations, a Microsoft Gold Certified Partner, provides image-based item processing and enterprise content management software technology for financial institutions. The credit union survey was of a random sampling of more than 200 credit unions to determine which remote capture point were most used and to field future plans for leveraging the technology.

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Transaction Wireless&Fifth Third Processing Forge Partnership

Fifth Third Processing Solutions is set to offer Transaction Wireless virtual gift card solutions to its leading merchant partners through the Transaction Wireless “wGiftCard” suite of products. The Transaction Wireless “wGiftCard” technology will allow Fifth Third Processing Solutions’ merchant clients to implement a virtual gift card solution that easily integrates with their core processing platform. Fifth Third Processing Solutions is a pioneer in providing secure electronic payments and credit, debit and gift card processing services while Transaction Wireless is a commerce and marketing company. “wGiftCard” gives retailers coveted real estate on the ubiquitous mobile screen or email inbox for the delivery and redemption of gift cards, coupled with one-to-one marketing programs.

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Peoples Trust Company and CardWorks Market Hypercom in Canada

Peoples Trust Company and Integrated Card Exchange, an affiliate of CardWorks, is set to market Hypercom’s “Optimum T4210” (dial) and “T4220” (Ethernet with dial) high security payment terminals to ISOs and merchants in Canada. Planet Payment has Class A certified Hypercom’s “SPOS32” payment software on the two terminals. The Hypercom chip and PIN-enabled “T4210” and “T4220” payment terminals enable full domestic processing support, have received EMV certification from the Interac Association, Canada’s national debit card program and feature a robust suite of software applications. Among the key applications is “Pay in Your Currency,” which is powered by Planet Payment payment processor to allow merchants to offer international MasterCard® or Visa® cardholders the convenience of paying for purchases in their home currency.

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American Consumers Positive on Recovery

The most recent installment of the Western Union “Global Business Payments Money Mindset Index” found 17% of consumers believe their financial situation had improved during the past six months (versus 15 percent in Q3 2009) and a full one-third of consumers expect their finances to continue improving in the first half of 2010. Correspondingly, the study found a slight decrease in the number of consumers who reported feeling “stressed” when considering their ability to meet financial obligations (50% versus 53% in Q3 2009). The study also showed a slight increase in the number of consumers reporting the loss of a primary job (15% of respondents versus 14% in Q3 2009) while 63% of consumers who have created a budget in the last six months have been successful at sticking to it. But consumers are more willing to dip into long-term assets to cover short-term debt, with 23% of those consumers withdrawing from their savings in the last six months stating that they withdrew funds from a 401(k) account and another 16% withdrawing funds from a brokerage account, stocks, bonds or mutual funds.

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Western Union Certifies Vendors for Mobile Program

The Western Union Company has certified two participants in its Mobile
Vendor Program: India-based mChek and South Africa-based Fundamo.
WU has also selected mobile value added solution provider Comviva as a new
participant in the program. The Mobile Vendor Program is intended to
extend the reach and accessibility of Western Union Money Transfer
services to mobile finance initiatives in Latin America, Africa, the
Middle East and Asia. mChek and Fundamo are the first to be certified
in Western Union’s program. Fundamo’s Enterprise Mobile Financial
Services platform is designed for configuration to
evolve with the needs of mobile subscribers wih 40 deployments in over
30 countries, most of which located in Africa and the Middle East.
mChek offers a hosted service for Mobile Money
Transfer and secure payments using credit cards, debit cards, bank
accounts and stored-value wallets. Other participants include
Singapore-based Utiba, U.S.-based Sybase 365, YellowPepper, a mobile
vendor in Latin America, and now, India-based Comviva. Mobile operators
who sign agreements with certified Western Union Mobile Vendors and
Western Union will be able to offer their subscribers the option to send
and/or receive money through Western Union’s money transfer system.
Western Union entered the mobile
financial services space in the second quarter of 2008, with an
endorsement for a global pilot program by the GSM Association, a global
trade association representing more than 750 mobile operators
worldwide.

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TxVia Signs Processing Agreement with AmEx Incentive Services

TxVia processing technology for network-based payment systems has signed an agreement to provide American Express Incentive Services (AEIS) prepaid solutions with prepaid processing platforms based on TxVia’s platform-as-a-service (PaaS) delivery model. TxVia’s PaaS delivery model enables clients, to take significant control of their processing platforms, as well as their product and service attributes: Clients can utilize Web-based tools—including an integrated development environment (IDE) called TxDev—to participate in our Payment Processing Developer Network and extend TxVia’s features and functionality and meet their end users’ specific needs.

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Heartland to Partake in Baird Conference

Heartland Payment Systems payments processors announced its President&CFO is slated to present at Baird’s 2010 Business Solutions Conference on Thursday, February 25, 2010 at 12:05 P.M., in Boston, MA. Interested parties can listen to a live webcast of the presentation on the Investor Relations section of Heartland’s website at: http://www.heartlandpaymentsystems.com. The webcast will be archived on the Company’s website after the live presentation for 90 days. Heartland Payment Systems is the 5th largest payments processor in the United States providing credit/debit/prepaid card processing, payroll, check management and payments solutions to more than 250,000 business locations nationwide.

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Underbanked Rely on Snail Mail Payments

A new report from Aite Group reveals that 45% of underbanked customers
pay bills by mail.
The “Impact Report” shows that traditional bill payment methods retain
their
dominance with unbanked and underbanked consumers. Cards, online
payments, and direct debit have made only small inroads into bill
payments in this market – a market that continues to rely on checks,
cash, and money orders.

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