U.S. Bank to Issue OfficeMax Visa Cards

OfficeMax has entered into a strategic alliance and partnership with U.S. Bank to issue a new “OfficeMax Visa
Signature” and “Visa Rewards” credit card. OfficeMax customers can earn 8% or more in rewards on
OfficeMax purchases when they use their “OfficeMax Visa Card” along with
their “MaxPerks” Rewards membership. Cardmembers can also earn reward
points everywhere Visa is accepted. All cardmembers are able to choose
from a variety of rewards, including an OfficeMax gift card, cash back,
merchandise and unique travel opportunities. U.S. Bank Retail Payment Solutions is one of the nation’s leading
providers of payment processing, issuing and advisory services. RPS
offers credit, debit, and prepaid payment solutions to consumers and
small businesses through U.S. Bank and in partnership with financial
institutions, businesses, governments and employers.

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Advanta Corp. Files a Chapter 11 Reorganization

Former business credit card leader Advanta Corp. has filed for a Chapter 11 bankruptcy or reorganization. The Company says its capital is below regulatory capital requirements and over time Advanta Bank Corp. may be turned over to an FDIC receivership. Advanta Bank Corp. is not included in the Chapter 11 filing. The parent corporation consciously decided not to fund the capital deficiency in order to preserve value for the senior retail note holders and other Advanta Corp. stakeholders. Advanta Corp. has about $138 million of senior retail investment notes outstanding. Advanta Corp. also has close to $100 million in cash and equivalents on hand. Advanta Bank Corp is currently collecting its $2.7 billion portfolio of managed receivables from 360,000 customers but the cards are not open to new charges. The “Chapter 11” proceeding will not have any impact on outstanding credit card balances and customer payment obligations will continue on normal schedules. For more details on Advanta’s current and past performance visit CardData (www.carddata.com).

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Heartland Renews its transmodus Contract

Payment provider Heartland Payment Systems is extending its contract with
remote deposit automation provider transmodus through 2015. “Express Funds” is powered by transmodus and encompasses the
scale and features to serve businesses of all sizes. “Express Funds” also
supports banks looking to increase their adoption of remote deposit
capture particularly in the small and mid-sized business market as
well as software partners who want to deliver remote deposit capture
through their own user interfaces. Heartland Payment Systems is the 5th largest payments
processor in the United States, delivers credit/debit/prepaid card
processing, payroll, check management and payments solutions to more
than 250,000 business locations nationwide.

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Western Union Names a New COO for 2010

The Western Union Company has promoted Hikmet Ersek from EVP and managing director for Europe to chief
operating officer. In his new role, Ersek will have responsibility for all of Western Union’s
business units around the world, as well the company’s operations and
marketing functions. Ersek is currently the executive vice president and managing director
for Europe, the Middle East, Africa and the Asia Pacific region, based
in Vienna. A native of Turkey, Ersek joined First Data Corporation,
Western Union’s former parent, in September 1999, and held executive
positions at GE Capital and Europay / Mastercard. He holds a degree in
Economics and Business Administration from the University of Economics
in Vienna.

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AMEX & E1

American Express has announced the details of its upcoming gala
screening of The Twilight Saga: New Moon on Thursday, November 19th at
Toronto’s Winter Garden Theatre. Providing attendees with Canada’s first
showing of the movie, the screening is to feature guest appearances by
cast members and live performances by the Band of Skulls soundtrack
artists. The movie is to open the next day on November 20th. The event
is invitation-only and all seats will be given away by American Express
through a variety of promotions. American Express in Canada operates as
Amex Bank of Canada and Amex Canada and employs 3,700 Canadians
coast-to-coast while E1 Entertainment entertainment content owner
acquires film, television and music rights in more than 190 countries.

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DMP APR is 6%-10%; Issuers Offer 0%-5% Directly

Consumers who enroll in a “Debt Management Plan” now typically will receive interest rates from many creditors ranging from 6% to 10%,
compared to a range of 10% to 14% last year. Feedback from CCCS of Greater Atlanta also found the average debt management plan is structured to repay debt in 36-60 months. CCCS notes that many
people who opt for a DMP to repay their unsecured debt are prompted to
seek help after late payments have caused their credit card interest
rates to soar to 28% or more. Other feedback from CardTrak.com shows that many major credit cards firms are offering individual customers a 60 month repayment programs at 0% to 5% interest. One of Citi’s current programs is a 60 month repayment of 100% of the principal at a 0% APR. The program is generally offered to a cardholder that is at least 60 days late. After four consecutive payments the account is reported as “current”. BofA’s similar program offers a 60 month payback at a 5% interest rate.

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VOICETRANSACT API

Voice Commerce financial services group has launched its “VoiceTransact”
Application Programming Interface (API) to allow organizations to
quickly and easily access the company’s “VoiceTransact” Trust Centers.
This allows banks, telecommunications operators and businesses that
require identity and verification, with optional payment processing, to
evaluate and verify the benefits to their own customers of using
voice-signature authentication. The API enables the Voice Transact
Services to be integrated into any business process and during a free
two week trial, customers can evaluate the time and cost savings that
the use of voice-signature based identity authentication through
VoiceTransact can bring. “VoiceTransact” Trust Center is Voice
Commerce’s core operating platform and network that provides voice-based
identification, verification and payment services and is pre-integrated
with the VISA, MasterCard and American Express payment networks.

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PAY88 & CHONGQING

In the initiative to become China’s online supermarket of financial
products and services, Pay88 has signed an LOI with Chongqing Kai Yuan
investment Co. niche financial services firm. Pay88 sells online
multiplayer game time and prepaid cards in more than 20 cities in China
and has already successfully captured more than 80% of the online
multi-player game time market in Chongqing. The agreement with Chongqing
Kai Yuan will soon make it possible for new clients to use Pay88’s
platform to apply for loans online and allow current clients to
register, maintain and update their business profiles and financial
reports online. Chongqing Kai Yuan investment Co provides micro-loans to
small enterprises throughout Chongqing with a net profit of $1.6 million
USD in 2008 while Pay88 sells prepaid telephone cards and over 800
software products.

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TRINTECH & HYATT

Hyatt has selected the hosted version of Trintech Group’s “Unity
Compliance” software for financial process compliance. “Unity
Compliance” is a component of Trintech’s “Unity” platform modular
software allowing companies to meet financial governance, risk
management and compliance goals. IL-based Hyatt Hotels serve guests in
45 countries at 413 properties around the world, which Trintech’s Unity
platform will allow to increase the accuracy and transparency of
financial reporting, reduce operational costs, shorten cycle times and
reduce the risk of material weaknesses and restatements. Trintech
integrated financial governance, risk management and compliance software
solutions provides its compliance module to manage financial, process
management and compliance initiatives through its “On-Demand” business
unit for more than 600 global organizations.

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INTERAC MILESTONE

After having been established in 1984, INTERAC has become Canada’s
preferred method of payment, surpassing cash and credit, to connect
Canadians to their money at the ABM, the store and through its INTERAC
“Online” for Email Money Transfers, introduced in 2004. INTERAC was the
brainchild of five financial institutions seeking to offer users one
national PIN-based network. Two years later, in 1986, financial
institutions linked their ATM networks to give cardholders broader
access to cash withdrawals across Canada and went national in 1994 to
process one billion INTERAC Direct Payment transactions by 1997. INTERAC
began deploying Canada’s first chip debit card transaction in 2007 and
processed a total of nearly 4 billion INTERAC Direct Payment
transactions by 2008 worth $168 billion.

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INCM & GEMALTO

Imprensa Nacional-Casa da Moeda (INCM), the Portuguese Mint and National
Printing Office, has started issuing its “Sealys Resident” cards,
compliant with the electronic European Residence Permit (eERP)
specifications and the latest ICAO Extended Access Control standards.
Gemalto is delivering 150,000 cards per year as of 2009 over the
following two years and supplied INCM with its Coesys Issuance
personalization solution. The smart card permits improve document
security and and allows Portugal to fulfill the European Union (EU)
recommendation that requires all 27 Member States to roll out the eERP
from 2010. “Sealys Resident” cards provide temporary residence
entitlement for non-EU citizens for any stay over three months, and for
some shorter work-related stays, by embedding a contactless chip to
securely store a facial image and two fingerprints.

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PLATA GASOLINA & COMPRAS

NovoPayment prepaid card service provider and program manager has
launched two corporate prepaid cards in Peru through its Servitebca Peru
JV with Interbank Group. Catering to the private and public
organizations’ best practices to the management of key expenditures, the
new card programs, “Plata Gasolina” prepaid fuel card and “Plata
Compras” prepaid corporate card, are designed to meet diverse purchasing
and payment needs. Plata Gasolina was designed for organizations with
large fuel expenditures, is not limited to any single chain and can be
used to pay for fuel at the pump while Plata Compras is reloadable to
allow for purchases at more than 40,000 MasterCard merchants across the
country. Servitebca Peru and Tebca Peru are NovoPayment subsidiaries
created in partnership with Interbank Group to spearhead the development
of prepaid solutions and transform traditional payment and disbursement
models.

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