Pipeline Data Completes Restructuring

Payment processor Pipeline Data has completed restructuring agreements
with convertible noteholders and holders of a $16 million put claim.
Under the terms of the transaction, the current $37 million, 8% coupon
convertible notes due June 29, 2010 have been restructured to a $42.1
million loan, with a 10% coupon until June 30, 2010 and a 14% coupon
until June 30, 2011. The Company has the option to extend the notes for
an additional year until June 30, 2012, at its sole discretion. As
restructured, all convertible equity features have been removed from the
notes and all 11.1 million detached full-ratchet warrants have been
terminated. ComVest Investment Partners III, an affiliate of the ComVest
Group, led
the $15 million initial investment in cash for the purposes of
restructuring the balance sheet and acquiring new merchant account
portfolios and other operating companies. As part of the investment, the
Company has issued Pipeline Holdings, LLC a $15 million face amount
preferred convertible stock instrument convertible into Common Stock of
the Company at 12.2 cents per share with a 16% payment-in-kind (PIK).
In addition, the put right on 9,398,058 shares of Pipeline Data’s Common
Stock held by the former shareholders of Charge.com, Inc., which was
redeemable for almost $16 million with interest accruing at 18%, has
been settled in full for $2 million in cash and the return of the
Charge.com name with related domain rights. The 9,398,058 shares of
Pipeline Common Stock have been returned to the Company and will be
canceled.

Details

Vanguard Networks Intros 3480 ASG

Communication provider Vanguard Networks has introduced the “3480 ASG”
application service gateway for voice and data services. The new
platform comes with numerous new
capabilities as part of the company’s newly introduced “Applications
Ware 7.2” suite, and is designed to bring the widest combination of IP,
TDM and serial voice and data access services to multi-site branch
locations. “Vanguard’s Application Ware Release 7.2” makes a broader array of managed services available for the branch office, enabling up to four routable Ethernet ports for simultaneous WAN access or LAN-based users with features such as IP-phones, office desktops or IP-based Point-of-Sale (POS) devices. New de-militarized zone (DMZ) capability protects reliable access to resources and repels external threats.
Quality-of-Service (QOS) prioritization of encrypted voice traffic
delivers a boost to voice services.

Details

EURONET 4Q/08

Euronet Worldwide posted fourth quarter revenues of $255.7 million, down slightly from 4Q/07. However, a net loss of $201.8 million, compared to net income $19.6 million for the year ago period.
The EFT Processing Segment reported revenues of $50.3 million, compared to $49.8 million for the fourth quarter 2007. Transactions of 184.9 million, compared to 169.8 million for the fourth quarter 2007. The EFT Processing Segment ended 2008 with 10,128 ATMs operated compared to 11,347 ATMs at the end of 2007. The Prepaid Processing Segment reported revenues of $145.4 million for the fourth quarter, compared to $155.4 million for 4Q/07. Transactions were 195.9 million for 4Q/08, compared to 172.7 million for the fourth quarter 2007. The Prepaid Processing Segment processes electronic point-of-sale prepaid transactions at approximately 430,000 POS terminals across approximately 223,000 retailer locations in Europe, Asia Pacific and the U.S. For complete details on Euronet’s fourth quarter results visit CardData (www.carddata.com).

Details

Euronet Worldwide Revenues Edges Downward

Euronet Worldwide posted fourth quarter revenues of $255.7 million,
down slightly from 4Q/07. However, a net loss of $201.8 million,
compared to net income $19.6 million for the year ago period.
The EFT Processing Segment reported revenues of $50.3 million, compared
to $49.8 million for the fourth quarter 2007. Transactions of 184.9
million, compared to 169.8 million for the fourth quarter 2007. The EFT
Processing Segment ended 2008 with 10,128 ATMs operated compared to
11,347 ATMs at the end of 2007. The Prepaid Processing Segment reported
revenues of $145.4 million for the fourth quarter, compared to $155.4
million for 4Q/07. Transactions were 195.9 million for 4Q/08, compared
to 172.7 million for the fourth quarter 2007. The Prepaid Processing
Segment processes electronic point-of-sale prepaid transactions at
approximately 430,000 POS terminals across approximately 223,000
retailer locations in Europe, Asia Pacific and the U.S. For complete
details on Euronet’s fourth quarter results visit CardData
([www.carddata.com](http://www.carddata.com)).

Details

Chase Unveils First Watch Intelligence

Chase Card Services has recently received a patent from the USPTO for
its breakthrough fraud prevention technology, “First Watch
Intelligence.” Chase says the new technology monitors 40 factors that
indicate potential fraud. “First Watch Intelligence” creates an
automated system for evaluating those fraud factors, which in turn
enables Chase analysts to detect fraud more efficiently and effectively.

Details

ADS Inks Haband to a Long-Term Deal

Loyalty program marketer Alliance Data Systems has signed a long term
contract with NJ-based retailer Haband. Alliance Data will provide
Haband with a comprehensive set of private label credit card services,
including
account acquisition and activation; receivables funding; card
authorization; private label credit card issuance; statement generation;
remittance processing; customer service functions; and marketing
services and will partner with Haband to develop a loyalty rewards
component tied to the private label credit card program to incent and
reward cardholders, and better engage customers with the Haband brand.
Haband offers more than 5 million customers men’s and women’s apparel
and home goods via
catalog and online, and targets consumers 50 years and older, the
fastest-growing and most affluent purchasing demographic.

Details

Heartland Payment Systems Volume Rises 23%

Heartland Payment Systems reports total fourth quarter transaction
processing volume of $16.5 billion, up 23% year-on-year. Net revenues in
the fourth quarter were $100.1 million, an increase of 31.3%.
Transaction processing volume and net revenue growth were limited by the
general slowdown in economic activity in the fourth quarter, including a
6.8% decline in same store sales. The operating margin on net revenue
was 13.9% in the fourth quarter, reflecting the effect on margins from
the Network Services acquisition, its ongoing investment in growth
initiatives such as campus cards, micropayment solutions, and check
products, the integration of American Express and Discover, and the
unprecedented weakness in same store sales. HPY says the biggest
challenge in 2009 will arise from the system breach it suffered late
last year. There are two main components to the challenge: addressing
claims that cardholders, card issuers, the Brands, regulators, and
others have asserted, or may assert, against the company arising out of the
breach and managing the potential impact of the breach on the day-to-day
operations of its business. For complete details on Heartland Payment
Systems’ fourth quarter results visit CardData (www.carddata.com).

HEARTLAND PAYMENT SYSTEMS REVENUES
4Q/07: $342 million
1Q/08: $340 million
2Q/08: $395 million
3Q/08: $425 million
4Q/08: $386 million
Source: CardData (http://www.carddata.com)

Details

Direct Insite is PCI Certified

E-payment service provider Direct Insite has achieved the
Payment Card Industry Data Security Standard certification.
Direct Insite provides electronic invoicing and workflow solutions
that streamline processes and reduce costs within Accounts Payable and
Accounts Receivable operations. The Company’s e-Invoice management
services automate manual paper processes such as invoice receipt,
invoice validation, order matching, approval workflow, dispute handling,
and e-payment.

Details

TransCard Offers PF Management Tool

Prepaid card provider TransCard has launched the
online “Personal Financial Management” tool free to cardholders. From
setting up personal spending reports to monitoring one’s net
worth, cardholders now have a highly advanced, unique way to track their
money—and much more. The following features are just a few the Personal
Financial Management tool offers to keep more cash in cardholders’
wallets and help put their minds at ease: budgets that help plan where
to spend and save money; money management that provides easy-to-read
information about cardholders’ spending habits; custom alters to
cardholders when they spend too much and use
money outside of their planned budget or shop at a specific store;
multiple account access that combines all cardholders’ accounts, from
credit cards to savings accounts to credit union accounts, all in one
location; customized widgets that adds information cardholders’ check
daily onto the first page of their account, providing easy organization
and prioritization of financial needs and online safety deposit
box—Provides cardholders with an eVault to store valuable documents,
such as mortgages or loans.

Details

LocatorSearch Powers Technology CU

CA-based Technology Credit Union has partnered with NY-based
LocatorSearch to enable TECH CU members to locate surcharge-free ATMs
using a GPS device. Tech CU is a member of the Allpoint and CO-OP ATM
networks and provides surcharge-free ATM access to their membership at
more than 60,000 locations nationwide, including Target, Costco and
7-Eleven stores, Walgreens, CVS and Rite-Aid Pharmacies, and Exxon and
Chevron gas stations. To access the ATM locator service, Tech CU members
can download a Tech CU GPS Points of Interest (POI) file directly from
the Tech CU ATM location finder. A “GPS
Download” button is available at the top of every processed search
request and the appropriate GPS POI can be downloaded for several
supported GPS device types.

Details