Evolution Benefits Acquires BEMAS Software

Evolution Benefits electronic benefit payment services has acquired
BEMAS Software. Building on its existing distribution partnership with
EB, BEMAS provides reimbursement account administration software to
third-party administrators, health plans, and self-administered plan
sponsors and will continue to function as a separate organization from
its headquarters in Missouri. The two organizations plan to roll out an
integrated application for improved web services, investing in ongoing
improvements of BEMAS enhanced functionality. EB will also continue to
fully support its other existing software partners who offer the EB
debit card to their customers while BEMAS will continue to support its
integration with other debit card partners. Evolution Benefits powers
more than 225 administrative services organizations.

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CARD FRAUD

A new survey has found that 18% of consumers in eight technically advanced countries have been victims of credit or debit card fraud over the past five years. Regionally, 27% of respondents have been hit by card fraud in the U.K. and U.S. during the same period. This compares to eight percent in Germany and 15% in Australia, China and
Singapore. The ACI Worldwide report also discovered that almost half of respondents said that they would change banks, or at least consider it, if they or someone they knew was hit by card fraud. The least forgiving consumers are in Dubai, Brazil and Singapore, where a third would change banks, while respondents in the U.K. and U.S. appear more lenient as half of all respondents suggest that it would depend on the service delivered by their financial institution following the fraud.

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MAY LEI

The Conference Board Leading Economic Index (LEI) for Australia declined
by 0.1% while The Conference Board Coincident Economic Index (CEI)
decreased 0.3% in May. With this increase, the Conference Board LEI for
Australia now stands at stands at 113.0 (2004=100), which increased 0.3%
in April and increased 0.5% in March, while the CEI now stands at 112.4
(2004=100), which did not change in April and decreased 0.2% in March.
Leading LEI indicators include negative contributions from building
approvals, negative contribution from rural goods exports, positive
contributions from
money supply, the yield spread, and stock prices.

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VALID Systems AIO350 Hits the Market

TX-based VALID Systems has begun taking orders on its “AIO350,” adding
to its product line of check cashing services. Designed to meet the
needs of the convenience store and retail sectors with ease of use, the
“AIO350” combines a check scanner with the “VeriFone VX570” terminal and
has the smallest footprint in VALID’s entire product line. Options
include VALID’s guarantee or non-guarantee risk management programs,
Check 21 or non-Check 21, cash drawer, ATM and card load payout options.
VALID Systems offers automated check cashing and verification solutions
for banks, financial services companies and retailers. The Company’s
internet-based decisioning and identification system is deployed across
its product line for PC-based application, all-in-one terminals, and
VALID-enabled ATMs.

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UMB and CardPartner Unveil Linux Foundation Visa

The nonprofit consortium that promotes, protects and standardizes Linux
by hosting technical and legal workgroups, events and online resources
has launched a new affinity credit card. The new “Linux Foundation Visa
Platinum” will generate $50 for every activated card as well as a
percentage of every purchase to go directly towards providing community
technical events and travel grants for open source community members in
order to accelerate Linux innovation. The new card is the result of a
partnership with CardPartner and is issued through UMB Bank.
The new Linux card is only available to U.S. residents but will expand
in the coming months. In 2007 the “Linux Fund VISA” was relaunched by
U.S. Bank in 2007. The card was formerly issued by MBNA for The Linux
Fund. (CF Library 8/22/07)

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Jack Henry and Saylent Team to Offer BIG Rewards

A fully integrated, customizable customer rewards and loyalty solution
has been launched to drive up bank deposits. Jack Henry & Associates and
Saylent Technologies have teamed to offer the program which enables
banks to offer high-interest checking, cash-back, and merchandise
incentives based on customer relationships and account activity. “BIG
Rewards” is offered in a hosted ASP environment managed by Jack Henry
Banking and supported with a series of promotional materials that are
provided to banks free-of-charge. Also, “BIG Rewards” utilizes Saylent’s
“Account360” solution as its software platform.
Saylent provides consulting and optimization services to help banks
segment and analyze their customers and design the most effective
loyalty and rewards program for targeted segments.

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ALIPAY & TRUSTWAVE

Trustwave will be providing PCI DSS compliance validation services for
the Alipay online payment gateway. Providing Alipay with its
“TrustKeeper” on-demand compliance management service, Trustwave will
insure access the necessary automated tools to support on-going
compliance. Offering on-demand data security and payment card industry
compliance management solutions, Trustwave will also perform an external
penetration test to identify any network vulnerabilities and exploitable
security flaws that could serve as an entrance point for a malicious
attack. This will help Alipay determine steps needed to secure and
remediate any threats to transaction security on their payment gateway.

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Network Solutions Breach Affects 500K Cardholders

Network Solutions confirms it is investigating a security breach
that may affected 573,928 credit and debit cardholders who made
purchases on Web sites hosted by the company between March 12th and June
8th. The Company says it identified unauthorized code on servers
supporting some of its E-Commerce merchants’ websites, however no
servers supporting networksolutions.com were affected. The unauthorized
code may have been used to transfer data on certain transactions for
approximately 4,343 of our more than 10,000 merchant websites to servers
outside the company. On July 13th, Network Solutions were informed by
its outside forensic experts that the data being transferred may have
included credit card information. The Company says it has no reports or
other reasons to believe that any credit card account information has
been misused.

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Wells Fargo Bill Pay is Accelerated

Wells Fargo has made available its latest online bill pay
feature allowing customers to make “just in time” online bill payments
to merchants. Helping customers avoid missing payments or making late
payments, the Wells Fargo solution integrates customers’ bill pay data
with optional online tools, such as the “My Spending Report” online
budgeting tool and the “vSafe” archiving service. The service also
presents bills online for nearly 460 merchants and lenders; offers
online and mobile bill pay alerts for more control over their bills; and
allows customers to schedule payments with mobile banking. Wells Fargo
is targeting the 75% of consumers who initiated expedited payments last
year, a figure expected to rise in the next five years according to
Javelin Strategy & Research. Wells Fargo financial services provides consumer banking solutions through its more than 10,000 stores and 12,000 ATMs.

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Visa Streamlines as its President is Phased Out

Visa announced that its President, Hans Morris, will be stepping down and a streamlined executive management team has been formed. Morris joined Visa in September 2007 and played a key role in planning the 2008 IPO. In the new structure, Visa’s global sales, client service, marketing, product development and innovation functions will be consolidated under COO John Partridge. CEO/Chairman Joe Saunders says Morris will remain with the company until the end of the year in a different capacity, helping to ensure a seamless transition to the new structure. Prior to Visa, Morris was CFO of Citi Markets & Banking, a post he assumed in November 2002. Citi Markets & Banking encompasses the global capital markets, investment banking, corporate banking and corporate transaction services businesses. His Citi responsibilities included managing a multibillion-dollar annual budget and a staff of 14,000 in more than 100 countries. During his career with Citi he held numerous leadership positions, including Vice Chairman, Chief Operating Officer and Head of Client Management at the Investment Banking division of Salomon Smith Barney. (CF Library 7/26/07)

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ARTEMA MODULAR

Three of the major regional rail transit operators in Germany are now
using Hypercom’s “Artema Modular” unattended payment terminals with
GPRS. The Module accept both debit and credit cards and collectively
speed ticketing in more than 370 trains for over 200 million commuters
per year. The installation was recently completed at the key transit
hubs, for which Hypercom teamed with leading system integrators Atron
Electronic and ICA Traffic. “Artema Modular” was first introduced at the
end of 2005 and is currently deployed in Europe, the Middle East, Asia
Pacific and North America. Hypercom payment technology delivers a full
suite of high security, end-to-end electronic payment products and
services across more than 100 countries.

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Vital Cash Flow Cuts Restaurant Card Fees

FL-based Vital Cash Flow is unveiling its rebate program to help
restaurants with card fees. The new program rebates 50% of the fees a
restaurant pays to process Visa and MasterCard transactions and places
them into a co-op fund account. The account funds can then be used for
such Vital Cash Flow marketing services as search engine optimization,
blogs, social media marketing, public relations, media relations, online
audio & video marketing, and even promotional landing pages. In order to
qualify for the program, restaurants have to process a minimum of
$16,000 in Visa & MasterCard transactions monthly. Participating
restaurants receive a $250 co-op marketing fund bonus for every business
referred to join the program. Vital Cash Flow specializes in Business
Financing, Hotel Fundraising Programs, Co-op Marketing & PR Dollars for
Restaurants, and Cash Flow Management Solutions.

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