Target Launches REDcard Zero% TV Promo

Target is prepping for the Super Bowl by offering Target guests who
purchase any 32-inch or larger TV with a REDcard credit account between
January 31 and February 6 to receive zero-percent introductory
financing until September 2010. REDcard guests receive many additional ongoing
benefits including the opportunity to earn certificates for a
10-percent-off shopping day and the option to enroll in the Take Charge
of Education program. Through Take Charge of Education, Target donates
up to 1 percent of guests’ REDcard purchase amounts to the K-12 school
of the guest’s choice. Guests are encouraged to visit
Target.com/REDcards for more information about the many valuable
benefits REDcards offer.

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AIS Launches Tablet PC with Anywhere POS

American Industrial Systems (AIS) has introduced its lightweight 10.4” “Semi-Rugged Touchscreen Tablet PC” utilizing a low power high efficiency 1.6 GHz Intel “Atom Z530” Processor. The screen display features enhanced transflective LED technology with vibrant color and sharp text in all environments for direct outdoor sunlight. Featuring a built-in 802.11 b/g/n WLAN module, Bluetooth V2.0 +EDR, and available 3G and GPS modules for increased range and tracking information, the tablet only weighs 2.6 lbs and has a IP54 rated water/dustproof resistance. It is also multiple 3-foot drop rated, has enhanced shock and vibration protection, and is completely sealed for mobile reporting, logging, and POS ordering in rain, dust, and vehicle use. Additional features of the AIS 10.4” Semi-Rugged Tablet PC include a Low-Reflectance Resistive Touchscreen; Rich I/O Port array for application expansion; Long Battery Life: up to 6 hours Operating;
Hot-Swappable 2nd Battery Option; and is available OS on Windows XP Professional Embedded / Windows XP Embedded.

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U.S. Retail Credit Cards See 1.5% Drop in Chargeoffs

Credit card asset-backed securities (ABS) ratings are expected to remain stable in 2010, with strained performance due to regulatory changes limiting issuers’ ability to employ risk-based pricing strategies in conjunction with 10%+ unemployment. This, according to Fitch, is sure to see a 12% credit card chargeoff level in 2010, subsequently leading to narrowed excess spread and three-month rolling averages to hover between 4% and 5%. The Fitch Prime Credit Card Delinquency Index for January, measuring credit card performance through Dec. 31, declined to a low 4.19%, mostly thanks to Bank of America’s lower early stage delinquencies for the period. The Fitch Prime Credit Card Chargeoff Index for January decreased by 43 bps to 10.25%, mostly thanks to Chase’ 195 bps drop in chargeoffs, while gross yield continued to grow rapidly 94 bps to 21.15%.

RETAIL CARDS ABS
Delinquency Charge-Offs
Jan 09: 5.58% 10.94%
Mar 09: 4.81% 11.05%
Jun 09: 4.88% 12.23%
Sep 09: 5.18% 11.75%
Dec 09: 4.19% 10.25%
Source: FitchRatings

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VeriFone Makes Available Card Encryption Sleeve

VeriFone Holdings announced it is shipping its “PAYware Mobile” secure credit card encryption sleeve for iPhone and the complementary “PAYware Mobile” App is now available on the App Store. Offering small businesses with secure card processing capabilities on the iPhone, “PAYware Mobile” app andcard encryption technology are provided free in conjunction with a low cost “PAYware” gateway services agreement. The card encryption sleeve slips over iPhone to accommodate card swipes and allow merchants to avoid high-cost “card-not-present” fees, complete with a stylus for signature capture and a mini-USB port for charging iPhone while the ergonomic encryption sleeve is attached. Unprotected data never transits or is stored on iPhone itself thanks to end-to-end card data encryption from the moment the card is swiped.

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Thales Provides Authentication for nShield

Thales information systems and communications security has made
available its “payShield” Cardholder Authentication for “nShield
Connect” and “nShield PCI Express”
hardware security modules (HSMs). The “payShield” Cardholder
Authentication for “nShield” authenticates credit card users and
protects encryption key transfers to safeguard credit card information and
assisting with regulatory compliance such as PCI. The “payShield”
Cardholder Authentication for “nShield” is already widely deployed in web-based
applications for MasterCard’s Chip Authentication Program (CAP) and
Visa’s Dynamic Passcode Authentication (DPA) for online banking and
3D-Secure applications such as Verified by Visa and MasterCard
SecureCode for online payments. This supports customers upgrading their
mission-critical environments using Thales “nShield Connect” HSM,
offering dual, hot-swappable power supplies for
enhanced business continuity.

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Check ‘n Go Intros Payday Loan Video for Fee Transparency

OH-based payday loan provider Check ‘n Go has released the “Credit Card
Cash Advance Versus Payday Loan” video to help customers understand fees
associated with a credit card cash advance and the differences between
credit card cash advances and credit card transaction fees. The video
is located on Check ‘n Go’s website as well as YouTube,
Facebook, MySpace, and Twitter. Check ‘n Go provides products and
services that preserve consumer
choice and increase access to credit for millions of American families
and operates more than 1,000 locations in 31 states and online at
www.checkngo.com.

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ProPay to Support eBay Buyer Protection Expansion

UT-based data security and encryption provider ProPay announced its support of the expansion of
eBay Buyer Protection to all approved electronic safe payment methods.
Under the new policy, ProPay buyers and sellers particularly benefit
from the extension of eBay’s Buyer Protection to all approved safe
electronic payment methods. ProPay has been an attractive option because
buyers simply pay with their credit card at checkout without having to
open up an account and/or ensure they have enough funds in an account
for a purchase. Buyers enjoy the convenience and rewards of paying with
their credit card and now can enjoy eBay’s Buyer Protection.
ProPay is a provider of complete end-to-end payment security and encryption
solutions for organizations.

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NEOVIA & SEGA

NEOVIA Financial Plc will provide SEGA Games Limited the NETELLER online e-wallet.
SEGAPoker and SEGACasino users will now be able to
transfer funds to and from their accounts using their NETELLER account.
NETELLER allows a wide range of deposit options including major debit
and credit cards plus major European local payment options. Users are
able to manage their funds simply within their SEGAPoker and SEGACasino
accounts in real time. NEOVIA Financial Plc operates the
world’s leading independent online payments business.

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RBC VISA PREPAID CONTACTLESS

Athletes, coaches and team
officials attending the Vancouver 2010 Olympic and Paralympic Winter
Games will be able to purchase beverages with a simple wave of the hand
by using a special Visa Prepaid Card issued by RBC. The card, shaped
like an iconic Coca-Cola contour bottle, uses Visa payWave technology
and is the first contactless Visa card in Canada that is not linked to a
credit card account. In addition to its suite of Visa credit cards, RBC offers consumers and
businesses a prepaid Visa gift card that can be used to buy 2010 Winter
Games tickets, food and beverages, retail goods and services. The RBC
Visa gift cards are available at any RBC branch and the purchaser can
preload the cards with funds in any denomination from $25 to $500. The
cards are also suitable for everyday purchases or as gifts and are
replaceable if lost or stolen. The RBC Visa gift cards currently feature
designs profiling RBC Olympians and are offered as part of a limited
edition collector set. Once the recipient has spent the money, the gift
cards can be kept as souvenirs.

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CITIBANK REDEEM & EARN POINTS

Citibank Korea Inc’ has introduced the “Redeem& Earn Points”
credit card program that allows CKI credit cardholders to redeem and earn
bonus Citi Points instantly at more than 20,000 merchants nationwide.
Once registered, CKI credit cardholders can earn 1,000 bonus Citi Points
or more, when they use their Citi Points to purchase items at
participating merchants during the January 28 – February 28, 2010
campaign period.

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FirstMerit Reports 2009 Net Income of $14.5mm

FirstMerit Corporation reported fourth quarter 2009 net income of $14.5 million compared to $22.8 million
for the third quarter 2009 and $29.1 million for the fourth quarter 2008.
For the full year 2009, FirstMerit reported net income of $82.2 million, compared with $119.5 million. Net charge-offs totaled $31.2 million, or 1.79% of average loans, in the
fourth quarter of 2009 compared with $18.8 million, or 1.05% of average
loans, in the third quarter 2009 and $15.2 million, or 0.82% of average
loans, in the fourth quarter of 2008. Nonperforming assets totaled $101.0 million at December 31, 2009, an
increase of $12.1 million, or 13.64%, compared with September 30, 2009.
Nonperforming assets at December 31, 2009 represented 1.48% of
period-end loans plus other real estate compared with 1.26% at September
30, 2009 and 0.77% million at December 31, 2008.

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Diebold’s Natoli Named VP, Chief Technology Officer

Diebold appointed Frank A. Natoli, Jr. VP & CTO to lead the technology and engineering development for product solutions synchronized with customers’ business needs. He will also lead the team in supporting Diebold’s growing services business by improving reliability, and aligning an emerging technology roadmap with Diebold’s corporate strategies. Natoli previously served Diebold as vice president of operational excellence and vice president of business transformation, respectively, and prior to joining the company in 2005 spent 23 year as an automotive engineering, manufacturing and operations exec. His education includes a bachelor’s degree in mechanical engineering and a master’s degree at Kettering University (formerly General Motors Institute and GMI Engineering and Management Institute) in Flint, Mich.

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