Credit Solutions Reaches the $1B Milestone

Debt settlement provider Credit Solutions has settled $1 billion in
unsecured consumer debt.
Credit card losses, which usually mirror the unemployment trend, rose to
a 26-year high of 9.4% in May.3 Federal Reserve research indicates that
household debt is at a record high relative to disposable income. Some
analysts are concerned that this unprecedented level of indebtedness
among households could lead to increased household delinquencies.4
Credit Solutions has introduced a number of new technologies,
including .”Net Esign” capability, designed to streamline the debt
settlement process, strengthen online security and make customer service
even more convenient. Since 2003, Credit Solutions has helped more than
200,000
clients nationwide manage $2.25 billion in unsecured consumer debt,
settling approximately $30 million a month due to ongoing efforts to
make the settlement process as stress-free as possible for consumers.

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ABnote Introduces Lenticular Card Printing

ABnote North America and NY-based Tracer is introducing PVC free
lenticular printing on medium to long run plastic card and poster
products. Lenticular printing, enabling printed images to appear three
dimensional or even animated, is created in a process where an
interlaced image is reverse printed directly on the smooth backside of a
multi-angled lenticular lens. Available lenticular effects include the
“flip”, “morph”, “zoom”, “3D” and full motion video with up to two
effects can be combined on the same project. ABnote and Tracer will also
offer press proofs, rather than the more difficult to visualize
composite proofs.

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GLOBAL CARDS

A new joint venture has been formed offering a global B2B network for corporations and governments to process and track invoices, make and receive payments, and have payables or receivables financed
through financial institutions. Syncada, created by Visa and U.S. Bank,
builds on Visa’s multi-bank network and U.S. Bank’s automated B2B e-invoicing, payment processing and trade finance network “PowerTrack.”
Currently, Syncada serves U.S. Bank and its legacy client base and processed over $18 billion in invoices in 2008. Now Visa has made a capital investment in Syncada to expand the service worldwide. Syncada will be headquartered in Minneapolis with operations in Chicago, Memphis, Toronto, Mumbai and Brussels. Visa says Syncada will extend the reach and capabilities of its commercial product suite.

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Higher Fees Help Lift MasterCard Q2 Revenues

MasterCard reported adjusted net income of $349 million for the second quarter, a
26.4% gain over 2Q/08. Net revenue for the quarter was $1.3 billion, a 2.7%
increase over the year ago period. The network says the higher revenues were driven
by pricing changes, an increase in the number of transactions processed and a
decrease in rebates and incentives. On a local currency basis, MasterCard’s gross
dollar volume was down by 0.6% and worldwide purchase volume was down by 0.7%.
The Company noted that 35.8% decrease in advertising and marketing expenses
versus the year-ago period, primarily related to continued cost containment
initiatives in response to market realities. For the U.S. gross dollar volume for
credit and charge card programs declined 18.7% in the second quarter to $133
billion as purchase dollar volume fell 8.8% to $120 billion, compared to 2Q/08.
Gross dollar volume for debit programs rose 4.1% in the second quarter to $112
billion as purchase dollar volume increased 5.3% to $82 billion, compared to
2Q/08. For complete details on MasterCard’s second quarter performance visit
CardData (www.carddata.com).

MASTERCARD TRANSACTIONS (millions)
(purchases + cash)
TRANSACTIONS GROWTH
Jun 30, 2009 7,985 0.7%
Mar 31, 2009 6,475 0.3%
Dec 31, 2008 7,768 6%
Sep 30, 2008 7,638 12%
Jun 30, 2008 7,462 12%
Mar 31, 2008 6,972 13%
Dec 31, 2007 7,306 14%
Sep 30, 2007 6,842 13%
Jun 30, 2007 6,657 15%

Note: All MasterCard Credit, Charge and Debit Programs processed on MasterCard’s
networks. Source: CardData (www.carddata.com)

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VeriSign to Discount PCI Assessment Fees

VeriSign Global Security Consulting is offering up 15% off on the PCI
Assessment and Remediation
Service fees for Level 2 merchants. This discount is being
offered based on recent changes MasterCard made to Level 2 Reporting
requirements. On June 17, MasterCard posted a change to its Site Data
Protection
program that requires Level 2 merchants to be validated by a Qualified
Security Assessor (QSA) by December 31, 2010, as well as maintain its
current process of submitting Self Assessment Questionnaires (SAQ). This
is a dramatic change from the current, industry-wide requirement of
self-assessment for merchants processing less than six million
transactions annually. The rule change does not only apply to merchants
processing more than
one million MasterCard transactions annually; this applies to any
merchant classified as a Level 2 merchant from any other card brand.
MasterCard defines that its Level 2 also includes “Any merchant meeting
the Level 2 criteria of a competing payment brand”.

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APN GPO Inks a Card Processing Deal with WMG

Group purchasing organization Aesyntix Physician Network
announced it has signed an exclusive contract
with Wholesale Merchant Group Merchant Processing Services.
WMG is a leading provider of credit and debit card-based payment
processing services to small- and medium-sized merchants located across
the United States. The company’s payment processing services enable
merchants to process traditional card-present, or “swipe” transactions,
as well as “card-not-present” transactions. WMG enables merchants to
accept cards as payment for their merchandise and services by providing
card authorization, data capture, settlement, risk management, fraud
detection, and merchant assistance and support. Under
the terms of the contract, APN members will receive exclusive pricing
and rebates on WMG services, including processing on Visa and MasterCard
transactions. APN offers discount pricing contracts in areas that have
significant impact on its members’ bottom lines, including medical
supplies, revenue cycle management technology, and business services.

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2010 PROJECTIONS

Economic prospects across Canada are starting to turn around thanks to a
variety of aligning factors. Consumer and business confidence is being
restored thanks to monetary and fiscal stimulus, improved financial
market conditions, firmer commodity prices, and strengthening emerging
market demand. Geographically, Central Canada’s manufacturing sector
should gradually improve over the coming year thanks to stabilizing
demand; In Quebec, losses are being mitigated thanks to cost-cutting
measures and a wide product mix, production is starting to grind;
Western Canada sees Manitoba’s steady diverse
economy and Saskatchewan’s resilient resource to lead growth this
year and next; Alberta’s economic growth will steadily depend on the
recent resurgent commodity prices; and the British Columbia immense
lumber industry expects growth now the U.S. housing market appears to have
bottomed. This according to Scotia Economics’ latest Provincial Trends
report, which also forecasts British Columbia’s economy to rebound 2.7%;
Alberta by 2.8%; Saskatchewan to grow 0.6%; Manitoba by 2.5%; Ontario to
rebound 2.2%; Quebec to expand 2.4%; New Brunswick to grow 2.4%; Nova
Scotia by 2.5%; Prince Edward Island by 1.9%; and Newfoundland/Labrador
to grow 2.4%.

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Zuora Lands a Former eBay Exec for Ops

CA-based billing service Zuora has hired Elizabeth Tse, previously with
eBay, as its new VP of Customer Operations.
Tse will manage the Professional Services Group, as well as Customer
Support and Care. She will own all customer
operations post-sales, including managing Zuora’s entire portfolio of
service offerings required to ensure the success of the company’s
customers.
Tse will manage the Professional Services Group,
as well as Customer Support and Care. She will own all customer
operations post-sales, including managing Zuora’s entire portfolio of
service offerings required to ensure the success of the company’s
customers. Previously,
Tse worked as VP, Global Billing, Payments &
Collections, at eBay, where she was responsible for overseeing worldwide
billing operations for the world’s largest online marketplace. Tse held
similar executive level positions with Providian Financial (now Chase)
where she was Senior Vice President of New Product Development and
American Express where she was Marketing Manager.

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VOCALINK & PRECISE

VocaLink international payment specialists now use Precise’s Transaction
Performance Management (TPM) solution, “Precise 8.5,” on its Java-based
bank payments system. VocaLink processes over nine billion payments a
year, 15% of European payments and is anticipating a 10% increase in
transaction volume in 2009 with its continental expansion. VocaLink uses
“Precise 8.5” to proactively look for transaction issues, including
extended processing time for security certificates. Precise was
established over 18 years ago to help companies prevent application
performance problems with its TPM solutions, offering transaction
transparency, fastest time-to-repair and problem prevention to over
1,500 customers worldwide. VocaLink transaction services processes
domestic and international automated payments of up to 90 million daily
and over half a billion monthly.

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Visa payWave to Deploy More ePort Terminals

Cashless payment solution provider USA Technologies and Visa will expand
their agreement to deploy another 2,500 “ePort” payment terminals.
This will bring the total to 4,000 terminals that are expected to be
installed in markets nationwide.
The G8 ePort terminals were especially designed to accept Visa payWave,
a new payment feature that allows consumers to simply wave their Visa
card in front of the ePort terminal to pay for their vended purchase. A
signature is not required for purchases under $25, and consumers retain
control of the card during the transaction, reducing the risk of fraud.
USA Technologies is a provider of cashless payment solutions to the
vending, kiosk, online laundry and self-serve point of sale markets,
with nearly 50,000 devices already in service.

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RDM 2Q/09

RDM Corporation electronic commerce and payment processing posted
payment processing revenues of $2.5 million for its fiscal Q3/09 ended
June 30, 2009, compared to the year-ago figure of $1.7 million. The RDM
transaction volumes averaged 3.8 million items per week during the
quarter, compared to 2.8 million items per week during the year ago
period and 3.6 million items per week during its fiscal Q2/09. Payment
Processing Services segment revenues increased by $0.8 million by 48%
from the year ago period to $2.5 million while the Electronic Payments
Solutions segment and the Quality Assurance segment, which represented a
combined 8% of total revenues in the third quarter, generated revenues
of $180,000 and $322,000, respectively, compared to $554,000 and
$331,000, respectively, in the year ago period. Additional data show the
organization’s end user locations grew from 17,000 to 17,800 during the
quarter; added one additional bank distributor; gross profit was $2.5
million or 42% of revenues, compared to $1.8 million and 34% during the
year ago period, respectively; and net earnings of $175,000 compared to
a net loss of $298,000 during the year ago period.

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U.S. Debit and Overseas Cards Drive Visa’s Q2

Visa reported that second calendar quarter adjusted net income,
excluding its recent sale of VisaNet do Brasil, increased 11% to $507
million and net operating revenue increased 2% to $1.6 billion, compared
to the same quarter in 2008. Sequentially, net operating revenue was
flat and adjusted net income was down 8%. However, global transaction
growth for the quarter ended June 30th picked up to an annual rate of
8%, compared to 6% in the prior quarter and 13% in the year ago quarter.
For the second calendar quarter there were 10.3 billion transactions
processed via VisaNet. Visa released first calendar quarter performance
data which showed that payments volume growth, on a nominal basis, was a
negative 5% over the prior year at $617 billion; total volume, on a
nominal basis and inclusive of cash volume, was $969 billion, a 7%
decline over the prior year; and the total cards carrying the Visa
brands rose 6% worldwide over the prior year to over 1.7 billion. In the
U.S. gross dollar volume for Visa credit programs for the quarter ending
March 31st declined 15.5% to $195 billion while debit program GDV rose
5.8% to $272 billion. Visa predicts annual net revenue growth of high
single digits in 2009 and at the lower end of the 11% to 15% range in
2010. For complete details on Visa’s latest performance visit CardData
(www.carddata.com).

VISA-NET TRANSACTIONS (millions)
Jun 30, 2009 10,266
Mar 30, 2009 9,360
Dec 31, 2008 9,797
Sep 30, 2008 9,590
Jun 30, 2008 9,473
Mar 31, 2008 8,800
Dec 31, 2007 9,094
Sep 30, 2007 8,645
Jun 30, 2007 8,411
Note: Visa, Visa Electron, Interlink and PLUS
cards processed on Visa’s networks.
Source: CardData (www.carddata.com)

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