Fifth Third Processing Inks Chuy’s

TX-based QSR Chuy’s has selected Fifth Third Processing Solutions for their merchant processing services.
Chuy’s Restaurants operates 15 locations in Austin,
Houston, Dallas and San Antonio and plans to extend its unique concept into the
Nashville, Tennessee market later this year. In addition to credit card processing,
Fifth Third Processing Solutions will also provide gift card processing for the
locations. As a premier full service payment solutions provider, Fifth Third
Processing Solutions provides servicing solutions and product engineering for financial institutions’ and
retailers’ credit card, debit card, merchant and private label programs
processing over 28.4 billion ATM and point of sale transactions and over $292
billion in debit and credit card sales volume annually.

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USA Technologies Expands its Board

Cashless technology provider USA Technologies has appointed Steven D. Barnhart, former CEO of Orbitz, and Jack E. Price, previously CEO of NovaRay
to its Board of Directors. Barnhart has successfully led technology and consumer product
companies through rapid growth and change. Most recently, he was CEO and President of Orbitz Worldwide,
from 2007-2009, after holding other executive positions since 2003, when
he joined the company. Barnhart has also been appointed to serve as a member of
the Audit Committee of the Board of Directors of USA Technologies.
Price has had a successful record of building and growing
businesses in Fortune 100 domestic and international markets. He has
been recognized for his leadership in operations, sales, marketing,
acquisitions, acquisition integration and organizational and process
re-engineering. Most recently he was President and CEO of NovaRay
Medical Inc., from 2007-2009. Price has also been appointed to serve as a member of the
Compensation Committee of the Board of Directors of USA Technologies. Stephen W.
McHugh, a former Director, has resigned from the Board.

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M-MONEY FORECAST

Consumer demand for mobile money transfer services will see users exceed
500 million globally by 2014, principally in developing countries. Many
new mobile money services being announced will face political,
regulatory or commercial challenges as they bring their services to
market. This, according to Juniper Research’s ‘Mobile Money Transfer &
Remittances: Markets, Forecasts & Strategies 2009-2014’ report, also
shows sophisticated mobile financial services can add to the
attractiveness of mobile money services. Meanwhile, Africa & Middle
East, Far East & China and India will be the leading regions for
national mobile money transfer services in 2014.

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GOL CORPORATE

GOL Linhas Aereas Inteligentes low-cost airline has become the first
airline in Latin America to issue UATP accounts GOL “Corporate Card”
targeting business customers. Accepted by more than 250 associated
airlines, representing over 95% of all passenger air travel capacity
worldwide, UATP is designed to lower the cost of sale by reducing or
eliminating credit card transaction fees to airlines. The network
provides corporations direct payment, allowing to avoid foreign currency
conversion fees, annual fees and per card fees. Subscribers enjoy
transactional data on all air travel purchases, simple enrollment,
payment and reconciliation processes. GOL will use UATP’s “Processing
Solutions” hosted billing system and corporate portal, allowing
corporations to assign individual UATP account numbers.

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DOLLAR FINANCIAL

Dollar Financial unbanked financial services acquired a merchant cash
advance business for $4.9 million, which primarily provides working
capital needs to small retail businesses against a percentage of future
credit card sales. As part of the business model, the merchant’s credit
card processor, typically a third party bank, directs a predetermined
percentage of the merchant’s future daily credit card receivables to the
acquired company until the advance is paid back in full, substantially
reducing any risk of repayment default. Currently managing receivable of
approximately $3.0 million, the acquired company is projected to grow
substantially in the coming year. Dollar Financial customers are
typically service sector individuals who require basic financial
services but, for reasons of convenience and accessibility, purchase
some or all of their financial services from the Company rather than
from banks and other financial institutions.

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Epson and ParTech for a New POS Line

Epson has expanded its partnership with POS platform provider ParTech
to offer an expanded line of products and support for the hospitality
industry. PAR will offer Epson?’s “TM-T88IV”, “TM-U220” and “EU-T432” receipt printers for PAR?s
“ViGo”?, “Gemini?” and “EverServ? Series 6000” POS terminals. Under the expanded agreement between PAR and Epson, PAR also joins
Epson?s Envision Partner Program. This comprehensive channel program
provides extensive sales and marketing resources as well as educational
tools designed to help partners deliver the most complete and effective
solutions and service, along with the fastest possible time to market.

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Western Union Revenue Down as Transactions Rise

Western Union reported that third quarter revenue was down 5% to $1.3
billion. The consumer-to-consumer segment was also down 5% to $1.1
billion in the third quarter, however WU handled 50 million C2C
transactions, a 3% increase over 3Q/08. The international portion of C2C
revenue declined 3% on transaction growth of 6%. The Global Business
Payments segment declined 3% to $171 million. During the quarter, WU
completed the acquisition of international B2B payments provider Custom
House; signed letters of agreement with Lagardère Services, Ortel
Finance and PayUp, potentially adding 15,000 locations in Europe over
the next few years; renewed agreement with Agricultural Bank of China,
bringing an additional 15,000 agent locations by 2011; agreed to partner
with Maxis Communications in Malaysia to launch a service that will
allow Maxis subscribers to send cross-border remittances from their
mobile phones worldwide. For complete details on Western Union’s third
quarter results visit CardData (www.carddata.com).

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New Gconomy Visa Offers an Ultimate Green Product

A new credit card that rewards cardholders for positive green actions has been launched by Barclaycard US and RecycleBank. The new
“Gconomy Visa” offers points for each purchase, donates a portion of every purchase to a “green” schools program, and rewards households for recycling. The card is also made from 55% recycled plastic. Cardholders earn 1.5 “RecycleBank Points” for every dollar spent with “RecycleBank Reward Partners” and one point spent elsewhere. A portion of every purchase is donated to the “RecycleBank Green Schools Program,” that offers numerous grants, ranging from $100 to $5,000 to schools that work with children (ages 6-18) in the fields of environmental awareness, education, and action. Additionally, RecycleBank motivates households to recycle by measuring the amount of recycled material from the home and converting it into “RecycleBank Points.” RecycleBank has committed to donating a minimum of $1 million dollars over the next five years to the RecycleBank Green Schools Program via the “Gconomy Visa” card. NYC-based RecycleBank services over 1 million members across 22 states and the U.K.

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ELAVON & SANTANDER

The non-profit Secure POS Vendor Alliance has added four more electronic payment companies. Chase Paymentech joins the SPVA along with Mustang MicroSystems, Semtek and Transaction Network Services. These companies join existing members such as Heartland Payment and Atos Worldline who partnered with the organization early on. The SPVA organization founded by Hypercom, Ingenico and VeriFone. The organization’s goal is to develop an end-to-end security framework and to enhance security elements of payment solutions which protect cardholder information and defend merchants and acquirers against security breaches, while helping reducing fraud and lowering risk for all electronic payment stakeholders.

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59% of Americans Want Gift Cards This Holiday Season

With the holidays just around the corner, 69% of shoppers expect to do the bulk of
their holiday shopping by December 7 and 52% plan to shop on “Black Friday”, 10%
more than the year ago period. However, 86% contend they are only buying items
discounted at least 20%; 25% will be looking for a 50% discount before they open
their wallets; 63% are planning a budget; 44% can be sold on breaking said budget;
and 62% are planning to spend more than $250 on holiday gifts. These findings,
according to the Accenture Holiday Shopping Survey, also show 85% plan to shop at
discount stores; 45% will be shopping at department stores; 5% are planning to shop
at luxury goods retailers and 79% plan to buy gift cards this holiday season. Of
the recipients, however, only 44% will maximize the value of the card while 25%
will use their gift cards to buy regular, staple products. Gifts cards are also the
most coveted holiday shopping gift with 59% hoping to find one in their stocking,
71% of which plan to spend the card entirely within three months or less, while 76%
of shoppers would spend the same for a gift card as they would on a gift.

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