ViVOtech Releases NFC OTA for Large Deployments

NFC Mobile payment provider ViVOtech has rolled out “ViVOnfc Suite 2.8”
NFC infrastructure software on the Solaris 10 Operating System and Sun
Microsystems hardware for large-scale commercial deployments. ViVOnfc 2.8’s unique dual server architecture ensures that issuers will
maintain the security of their card data and leverage the widest
possible reach over the mobile carrier network. Card issuers, merchants,
and transit operators are now able to extend their brand image and
online services to their customers’ mobile devices. The solution
includes NFC wallet and OTA card provisioning software. The suite
enables the entire ecosystem of Mobile Network Operators (MNO), Trusted
Service Managers (TSM), card issuers, merchants, and marketing services
companies to securely provision and manage payment cards, coupons and
tickets on NFC-enabled handsets.

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Citi Intros Multicurrency Virtual Card Platform

Citi has introduced a new service for institutions that generates unique
virtual card numbers for transactions, allowing administrators to
dynamically set spending and reconciliation controls on each virtual
card account. The new multicurrency “Citi Virtual Card Accounts” service
is an electronic solution for post-invoice payments and card-not-present
transactions made via the Internet, phone, or mail order. It also
complements an organization’s existing commercial card program. Citi has
teamed with MasterCard to integrate their “inControl” virtual card
platform into its core commercial cards processing systems. Citi’s
“Virtual Card Account” solution, which extends Citi’s “Procure to Pay”
suite, is available globally, with local currency issuance and
settlement in nearly 50 countries.

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OCC Wants More 45-Day Opt-Out Disclosure

The OCC issued a bulletin calling for national banks to expand
disclosure on the implementation of any terms during the 45-day opt-out
period. Under the new “Credit CARD Act” banks must notify customers 45
days in advance of any rate increase or significant changes in credit
card account terms. The rules also require lenders to disclose that
their customers have the right to reject those changes. However, under
the rules, the new rates or terms can be applied to any transaction that
occurs more than 14 days after the notice is provided – even if the
customer ultimately rejects the changes. The rules do not require
creditors to tell their customers that new terms can be applied during
the 45-day period. The OCC is directing national banks to include an
additional disclosure to notify consumers of this consequence to prevent
consumer confusion, particularly for customers who opt to reject the
changes in terms.

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Advanced StoreNCR 5.4 PA-DSS Compliant

NCR Corporation’s version 5.4 “Advanced Store POS” has been designated
as offering the most current standards designed to protect consumers’
credit card information from potential security breaches. With
validation performed by Trustwave, NCR Corporation’s version 5.4
“Advanced Store POS” has been named PCI SSC compliant with PA-DSS
version 1.2, which was created to help software vendors and others
develop secure payment applications. The comprehensive NCR POS solution
drives store checkout operations for major general merchandise retailers
around the world, providing enterprise system capabilities; superior
pricing; promotional capabilities; multichannel support; CRM
functionality; returns management; and mobile retailing.

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Allpoint ATM Network Inks PBI Bank

Allpoint Network has signed ATM network agreements with PBI Bank. With
this, the $1.7 billion bank with 18 locations across Kentucky can
provide its customers access to more than 200 surcharge-free Allpoint
ATMs across the state. This equates to 3x as many ATMs as the largest
Kentucky-based bank. Allpoint is an affiliate of Cardtronics ATM Network
with 37,000 ATMs in leading national and regional merchant locations
across the United States and the United Kingdom. PBI Bank operates 18
full-service banking offices in 11 counties in Kentucky and is a
wholly-owned subsidiary of Porter Bancorp.

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OTI 1H/09

On Track Innovations reported that revenues declined 17% to $16.9 million in the first half of this year. Gross profit slipped 6% to $7.7 million. The Company previously reported that revenues were flat for the first quarter at $9.3 million. The GAAP net loss for the first quarter was $3.8 million, a 44% decrease, compared to the year ago quarter. OTI says its main goal is to bring the company to operating break-even position as quickly as possible. Based on the higher than expected decline in revenues in the first half, which is mainly attributed to the revenue reduction in the OEM and payments business segments and the delays in customers’ projects timetables, OTI updated its target revenues for 2009 to $34 million. OTI designs, develops and markets secure contactless microprocessor-based smart card technology. For complete details on OTI’s latest performance visit CardData (www.carddata.com).

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JULY LEI

The Conference Board Leading Economic Index (LEI) for the Euro Area
increased for the second of the last three months by 1.6% while the
Conference Board Coincident Economic Index (CEI) declined by 0.1% for
the month of July. With the 1.6% increase in July, The Conference Board
LEI for the Euro Area now stands at 97.4 (2004 = 100), which increased
1.4% in June and a 1.8% in May after falling more than 15.0% between
June 2007 and December 2008. Meanwhile, the CEI now stands at 101.0
(2004 = 100) after falling 0.5% in June and 0.2% in May. Experts
disclose because of current economic conditions, it is too early to
conclude whether or not the Euro Area will experience a sustainable
recovery anytime soon.

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Whataburger Accepts MasterCard PayPass

TX-based QSR Whataburger is set to accept MasterCard PayPass
contactless payments at more than 500
locations across southern United States. To enable PayPass acceptance,
Whataburger restaurants are being deployed
with Vivotech 4500M and DTc readers, integrated devices designed to accept
PayPass contactless payments, as well as traditional, magnetic stripe
payment
cards at the counter and at the drive-thru. Customers simply tap their
PayPass-enabled
MasterCard card or device on the reader to make a purchase, eliminating
the need to hand their card over to a cashier or fumble for cash.
MasterCard PayPass
also does not require customers to sign receipts for purchases under
$25, further
speeding up the transaction. Whataburger, recognized for its fresh,
made-to-order burgers and
familial customer service, operates locations in Alabama, Arizona,
Arkansas, Florida, Georgia,
Mississippi, New Mexico, Oklahoma and Texas. These Whataburger locations
will be equipped to accept MasterCard PayPass by September 2009.

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NMI Releases Level III B2B Service

E-commerce gateway provider Network Merchants has launched “Level III
Processing” to allow merchants to pass extended transaction data
required for certain industries and card qualifications.
Level III Enhanced Data Processing is used by government and large
corporations to make business-to-business and business-to-government
purchases.
Merchants can use this enhanced data to better understand purchasing
patterns, improve
purchasing performance, and monitor employee compliance.
NMI’s Level III service offering includes a fully functional API
(Application Programming Interface). In addition to Level I data –
account number, transaction date, purchase
amount, supplier category code, supplier name, city, state, and ZIP code
– Visa and
MasterCard provide enhanced data on purchases of goods and services.

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EURO PMI

The Bloomberg Euro-Zone Retail Purchasing Managers’ Index (“PMI”) fell
from 47.3 in July to 47.1 in August, demonstrating a sharper rate of
decline in like-for-like sales for the 15th consecutive month. Based on
mid-July surveys of more than 1,000 executives in the euro area retail
sector, Germany showed only a marginal drop in month-on-month sales from
49.8 in July to 49.5 in August for the weakest decline among the 3
largest Euro-Zone economies. Meanwhile, France posted posted moderate
growth from 46.0 in July to 47.3, over last month’s drop from 49.4 to
46.0, while Italy posted the most drastic change from 45.6 in July to
44.0 in August. The year-on-year sales index recovered from its July
figure of 39.8 to 41.7, but is still below the no-change figure of
50.0. The prices paid index rose from June’s record low of 50.0 index
stayed close to the no-change mark, wherein French and Italian retailers
reported a rise while German retailers reported declines for the first
time in five-and-a-half years; retail sector employment continued to
contract for the month to 47.4, unchanged on July’s reading; and Retail
stocks registered 44.4, up on July’s series low but down on the long-run
average (51.2).

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MASTERCARD CAP

MasterCard has approved personal card readers and authentication servers
from DSSS, Gemalto, Logos and Thales for its “Advanced Authentication
for Chip.” Targeting banks looking to manage threats of online fraud,
“Advanced Authentication for Chip” provides an EMV authentication
solution to further protect EMV cards from fraud using a two-factor
authentication solution. This Chip Authentication Program (CAP) solution
allows cardholders to authenticate themselves using their existing EMV
banking card and a personal card reader issued by their bank. The
personal readers allow the consumer to generate single-use passwords for
use in e-banking transactions, e-commerce, telephone authentication and
other Card Not Present transactions.

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IRS to Offer RBS WorldPay Options in 2010

The IRS has signed a contract with the Royal Bank of Scotland to provide electronic payment services for individual and business U.S. taxes. RBS WorldPay and its partner Value Payment Systems will begin the multi-year contract to process tax payments on January 1st. Besides facilitating tax payments via payUSAtax.com, users will be able to schedule automated payments and set future payment e-mail reminders.
RBS WorldPay and VPS will enable individuals to pay 1040, 1040ES, 1040X, Installment Agreements, 4868, 5329 and Trust Fund Recovery Penalties.
Businesses will be able to pay 940, 941, 943, 944, 945, 1065 and 1041 taxes. Value Payment Systems provides electronic payment products and services to various industries including government and property management.

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