CASHBOX GROWTH

ATM provider Cashbox plc reports that the installed base of
transacting machines was 2,838 on 31 December 2008,compared to 2,045 at
30 June 2008, with sufficient ATM stock in
warehouse to meet installation requirements for the remainder of the
financial year. The increase in machine numbers is essentially
attributable to the acquisitions that took place during the second half
of 2008. The Group expects to announce its Interim Results for the six
months ended 31 December 2008 during March 2009.

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American Express OPEN Sponsors M3 RACE

American Express OPEN announces the kick-off of the year long “M3 Race”
competition for women entrepreneurs. “Start it, save it or grow it”
is a mantra started by the Make Mine a Million $ Business RACE team
that is providing a platform for women to
start new businesses, offering lifelines to those businesses looking for
help, and supplying healthy businesses with resources to grow to the
next level.
The M3 RACE inspires women to challenge themselves and each other to
realize their vision for the company and reach their revenue targets.
Just like walk/run marathons, women can choose their own pace for their
2009 business revenue goal: $250,000, $500,000, or $1,000,000 or more.
The Grand Prize winner will receive a $100,000 cash prize and a year of
marketing, advertising and media opportunities. Women own more than 10
million businesses, yet only 2.6% or 242,000
report more than $1 million in revenue, with the majority generating
revenues below $50,0001. Every new business creates a minimum of one
job, addressing
a critical need in these challenging economic times. The M3 RACE is
addressing economic turmoil and joblessness head-on and empowering women
business owners to be a driving growth engine for the U.S. economy.

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GEMALTO PARTNERSHIPS

Gemalto has established an exclusive business
alliance with Corporacion Cardtech, supplier of
magnetic stripe bank cards, and Newtech Solutions, a consulting and
technical support organization that specializes in EMV. Under the new
agreement, banks in Venezuela working with Corporacion
Cardtech and Newtech Solutions will have access to expertise, consulting
services, smart cards and technology from Gemalto, the world’s leading
provider of EMV cards. EMV cards embed a microprocessor and software
with security features that work together with the payment transaction
authorization network to prevent card fraud and identity theft and
better protect consumers. Unlike with magnetic stripe only cards, smart
cards based transactions cannot be easily cloned, which is a primary
source of fraud throughout Latin America. The software loaded in EMV
microprocessor cards not only increases security, it opens the door for
banks to deploy other exciting programs for their customers, such as
loyalty schemes that enable merchants to offer rewards to their best
customers automatically when they shop at their store. The
partners estimate that eight million EMV cards will be issued in the
first year, starting in June 2009. Approximately 16 million debit and
credit cards are currently in use in Venezuela.

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Another HPY Lawsuit is Filed Over Breach

Another class action lawsuit has been filed on behalf of consumers
against NJ-based Heartland Payment Systems over a recently discovered
security breach. Philadelphia-based Berger & Montague filed the suit
last week in the U.S. District Court for the District of New Jersey.
PA-based Chimicles & Tikellis also filed a similar lawsuit against HPY
in the same court. Two weeks ago Heartland confirmed it was the victim
of a security breach within its processing system last year. The
intrusion was discovered in January, but the processor believes it is
contained. The Company insists that no merchant data or cardholder SSNs,
unencrypted PIN, addresses or telephone numbers were involved in the
breach. In January, HPY formed an internal department dedicated
exclusively to the development of end-to-end encryption. Heartland
delivers credit/debit/prepaid card processing, payroll, check management
and payments solutions to more than 250,000 business locations
nationwide. (CF Library 1/21/09; 1/28/09; 1/30/09)

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CyberSource 4Q/08 Revenue Soars by 37%

CyberSource posted a 37% increase in fourth quarter revenue of $62.3
million. During the quarter the Company processed a record $28 billion
in transactions and added a record 27,700 new customers. Net income for
the quarter was $10.0 million, compared to net income of $1.2 million
for 4Q/07. During the fourth quarter, the Company processed a record 547
million billable transactions, a 31% increase over the same period the
previous year, and increased its installed base to 253,000 active
customers. CyberSource’s European operations processed a record 127.4
million transactions in the fourth quarter, an increase of 72% over
4Q/07. Global acquiring revenue rose 37% for the quarter. Also,
CyberSource signed up 450 new ISO and Affiliate resellers. For the first
quarter the Company expects total revenue to be approximately $60.0
million and expects to process between 520 to 525 million billable
transactions. For complete details on CyberSource’s latest performance
visit CardData ([www.carddata.com](http://www.carddata.com)).

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RushCard Offers a Tax Deposit Sweepstakes

OH-based prepaid Visa RushCard will send a winner that direct deposits a
tax refund onto their “RushCard” to meet philanthropist and
entrepreneur Russell Simmons. RushCard and Baby Phat RushCard members
who direct deposit their federal or state tax refunds will automatically
be entered to win a trip for two to New York to have
an exclusive lunch meeting with Simmons and get a private shopping spree
at a selected store in New York City. The trip will also include a
financial consultation during which the winner will receive advice on
how to better manage his or her finances in the New Year.To qualify,
RushCard members must make a direct deposit onto the Prepaid Visa
RushCard of $100 or more from a Federal Tax Refund, Refund Anticipation
Loan or State Tax Refund between January 1, 2009 and April 30, 2009.

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GAIN Capital Board Taps Visa’s Lyons

Forex provider GAIN Capital Holdings has appointed Susanne Lyons,
previously with Visa, to the Board of Directors. Lyons brings to GAIN
Capital a breadth of experience in consumer financial
services. At Visa USA, she most recently served as executive vice
president and chief marketing officer. At Charles Schwab & Co., Lyons
held a variety of senior
roles including president of retail client services and chief marketing
officer. She was also a member of the firm’s Management Committee. She
received a Bachelor of Arts degree from Vassar College and a
Master’s degree in Business Administration from Boston University. GAIN
services clients from more than 140 countries and supports average trade
volume in excess of $200 billion per month. The company operates
FOREX.com (www.forex.com) one of the largest,
best-known brands in the retail forex industry.

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Matica Hires a New Latin America Exec

MN-based card personalizer Matica Americas has hired Hilmer Rivera,
previously with Zebra Technologies, as its new director of Latin America
Sales. Rivera will be responsible for the development of all Matica
Americas activities in Latin America including new business development,
sales channel building and creating and executing long-term revenue
growth plans to achieve market leadership and create brand awareness
throughout Latin America and the Caribbean. At Zebra
Technologies he served as Sales Manager, Latin
America and Caribbean and his tenure Rivera
developed the Latin America sales channel and substantially grew the
business in Latin America and the Caribbean. Matica Americas systems
are used in a wide range of plastic
card personalization and metal plate embossing markets such as
financial, retail, service bureau, healthcare, membership, insurance,
corporate and government identity markets.

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PPI REPORT

The Competition Commission reviewed the distributors and
intermediaries of Payment Protection Insurance (PPI) and determined
that these entities face little competition for the sale of PPI when it
is sold in combination with the credit it insures. They found that there
were features of relevant markets which led to an adverse effect on
competition (AEC) in these markets and in turn resulted in consumers
facing higher prices and less choice than they would if there was
effective competition between PPI providers. As a result of this lack of
competition the Commission found that it is highly profitable for
distributors to sell PPI and that some of the resultant profit is used
to subsidize credit prices. They concluded that there were serious
deficiencies in the competitive process for selling PPI policies, and,
in order to remedy the adverse effects identified, a package of remedies
would be required which includes some significant restrictions on what
parties selling both PPI and credit can do (and also impose some burden
on parties that offer only PPI to consumers). We concluded that such an
intervention in these markets would enhance overall consumer welfare,
and that the scale of the problem identified warranted a significant
intervention. The Commission concluded that they should impose: a
prohibition on distributors and intermediaries from selling PPI to their
credit customers within seven days of a credit sale, unless the customer
has proactively returned to the seller at least 24 hours after the
credit sale; a prohibition on selling single-premium PPI policies (where
the premium is paid in one upfront payment, generally by adding the
premium to the credit borrowed); a requirement on retail PPI
distributors to offer retail PPI separately when they also offer retail
PPI bundled with merchandise cover; and several requirements to provide
specified information in marketing materials, at the points of sale of
credit and PPI, and each year after the PPI policy has entered into force.

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NOV LEI

The Conference Board Leading Economic Index (LEI) declined
4.5% and The Conference Board Coincident Economic Index (CEI) decreased 0.6% in
November. The only positive contributor to the index was the
stock price component. The US refiners’ acquisition cost of domestic and
imported crude oil, net insufficient inventories, the industrial production
construction component, and the (inverted) real exchange rate decreased in November. The
(inverted) federal funds rate remained unchanged. The Leading Economic Index declined sharply in November as it has
done the previous three months due to very large declines in oil prices, net
insufficient inventories and the industrial production construction component. During the
previous six months, the LEI declined 13.0% (a -24.3%
annual rate), significantly lower than the 2.7% rate of growth (a 5.5%
annual rate) between November 2007 and May 2008. In addition, the weaknesses among
the leading indicators have remained very widespread, with none of the components
increasing over the past six months. With the 4.5 percent decrease in November, the leading economic index
now stands at 105.0 (2004=100).

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CIBC CREDITS

CIBC is helping Canadians take full advantage of proposed tax credits by saving $499 towards set up fees for a Home Power Line of Credit and receive $500 Cash back on a qualifying mortgage for clients buying their first home. Clients can take advantage of the new tax
credit for 1st time homebuyers and CIBC will provide cash back to help with legal fees or home renovations. In addition, fees are waived for one year on the CIBC Dividend Platinum credit card acquired in the branch. CIBC will waive the annual fee on new cards for one year, in addition to providing 2% cash back on all purchases including home renovations.

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CAM Pharmacy POS is SIGIS Certified

CAM Commerce Solutions announced that its “CAM Pharmacy” POS software
has received SIGIS certification. CAM Pharmacy Point of Sale software
automates the store operations of
the independent pharmacy. Through its integration with many leading
pharmacy dispensing systems, the CAM point of sale software offers
pharmacies a complete solution when automating a store. With the
addition of IIAS support and SIGIS certification, the CAM Pharmacy Point
of Sale software allows pharmacies to accept FSA (Flexible Spending
Account) cards. Recent IRS regulations require pharmacies to employ
point of sale systems that comply with IIAS (Inventory Information
Approval System) if they wish to continue accepting FSA cards as forms
of payment. As of June 30th 2009, pharmacies who have not implemented an
IIAS compliant system will be excluded from accepting FSA cards.

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