VERSACARD

VersaPay has signed a 5-year financial services agreement with Brewers
Distributor LTD, allowing Brewers’ customers to use and fund VersaPay’s
stored-value “VersaCard” solution. With this, Brewers Distributors’
customers can use the card as cash settlement for the release of
inventory to
liquor licensees while enhancing supply-chain relationships through the
provision of multiple electronic payment methods and increased order
fulfillment efficiency. This agreement also allows Brewers vendors to
participate in the Brewer-VersaPay Merchant Services Program, ensuring
preferential rates on payment processing at 9,000 VersaPay merchants for
Visa, MasterCard and Interac Direct Debit payments. Brewers Distributor
has operations across Western Canada representing over $1.5 billion
in business-to-business transactions and over $10 billion in consumer-based
transactions.

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Synergent Deploys VSoft’s Branch Capture

ME-based data processor Synergent has eliminated costs associated with manual item capture, processing and delivery for its credit union clients using VSoft’s “Branch Capture” product that includes Parascript’s check recognition technology. “Branch Capture” allows Synergent to capture check images and data with small desktop scanners at the branch level. The images and MICR data are then sent electronically to a central location, eliminating the need to physically transport paper checks. The Branch Capture product uses Parascript’s “Courtesy Amount/Legal Amount” (CAR/LAR) recognition technology to automatically read the amounts on checks, reducing the amount of intervention and keying required by tellers. Synergent provides card services, check processing & support services, print & creative cervices, and technology services to credit unions. VSoft is a global provider of financial technology solutions. The Parascript image analysis suite automates costly data entry and improves decision quality in postal automation, check and remittance processing, fraud detection and forms processing operations.

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XILINX VIRTEX AVDP

Based on its “Virtex 5 LXT” and “SXT platforms,” Xilinx logic supplier
has partnered with OmniTek to deploy the Advanced Video Development
Platform (AVDP). Allowing for complete system development with
scaling, deinterlacing, combining, PCI Express direct memory access
(DMA), memory control, software drivers, graphical user interface, and
user documentation, the platform supports SDI, HD-SDI, Dual Link SDI,
3G-SDI and DVB-ASI connectivity. OmniTek formed in 2001 and is the
product division of Image Processing Techniques Ltd while Xilinx
programmable logic provides broadcast industry video, audio and
network connectivity solutions around the world.

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TSYS EXEC

TSYS has appointed Antonio Jorge de Castro Bueno as the Organization’s
Business Expansion Director as part of an effort to supply market ready
services. These services include TSYS’ issuing and acquiring management
software, namely “TS Prime”, which was adopted by over 100 financial
institutions worldwide. Jorge has experience as an associate with such
companies as ACI Worldwide, Grupo Omnia, Banco PanAmericano, ADP
Systems and Grupo Villares while TSYS provides outsourced payment
services with issuer-/acquirer-processing technologies and grew
international
operations 33% in 2007.

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IRISGUARD IBANK

Cairo Amman Bank has implemented IrisGuard’s “iBank” biometric ID
solution for customer verification through individual iris identification at
the bank’s ATMs across Jordan and Palestine. IrisGuard will be
deploying its “IrisGuard IG-AD100” iris cameras at the bank’s nearly 200
ATMs to provide data integrity and ensure privacy using biometric
data. Additionally, IrisGuard will be providing its biometric ID solutions
for internet online-banking and employee time attendance by year’s end.
Cairo Amman Bank operates nearly 70 branches across the region and is
a member of the Jonet ATM network while IrisGuard has been in operation
since 2001 providing customers and system integrators with large-scale iris
solutions using camera devices at through its offices in the UK,
Switzerland, Jordan
and the UAE.

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SunTrust Launches the Enterprise Spend Platform

SunTrust Bank has launched “Enterprise Spend Platform” a commercial card management solution for businesses, government entities and non-profits to manage travel and entertainment, procurement and payables. The “Enterprise Spend Platform” features five application modules (Statement Manager, Transaction Manager, Expense Manager, Payables Manager and Requisition Manager) hosted on a single platform that can be implemented to fit company-specific needs, creating a highly flexible and scalable product that can grow on the client’s terms. The base platform provides a foundation for each application module, facilitating card administration; card ordering, activation, and termination; credit line management and other card-focused financial controls. It also helps program administrators build and maintain corporate structure, adherence to business rules, workflow, internal communications and email management.

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ProfitPoint Acquires New Market Solutions

TN-based loyalty program provider ProfitPoint has acquired gift card issuer New Market Solutions. The New Market Solutions brand will be phased out and all customer implementation and support functions currently performed at its Cleveland, OH-based corporate headquarters will be migrated to ProfitPoint’s Franklin, TN operations center. ProfitPoint is now servicing more than 20,000 merchant locations nationwide. ProfitPoint specializes in the design and production of custom gift and loyalty cards, software capability and merchant education to meet each individual client’s needs.

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MagTek Rolls-Out ExpressCard 1000

CA-based E-payment technology provider MagTek has rolled out “ExpressCard 1000” , an “all-in-one” instant issuance card platform. The “ExpressCard 1000” advanced design provides a secure multi-card issuance platform that enables merchants to produce full color graphics for the front and back of the card while the customer is onsite, and also allowing ISO’s to capitalize on the high marketplace demand of card personalization for gift and prepaid cards. Additionally, cardholders will also benefit by instantly receiving their card onsite and thus eliminating the risk of theft when their card is mailed. MagTek is a provider of electronic transaction technology, from magnetic stripe card readers and writers to high-accuracy MICR check readers and scanners, secure PIN issuance and cardholder verification systems.

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GE 1Q/08

GE reported that profit for its GE Money unit declined 19% in the first quarter to $1 billion. However, revenues were up 7% to $6.4 billion, compared to one-year ago. Last month American Express and GE Money signed a deal for AmEx to purchase GE’s Corporate Payment Services for $1.1 billion in cash. The deal is part of an ongoing strategy for AmEx to focus on the payments sector and follows the sale last month of its international banking subsidiary. Corporate Payment Services generated over $14 billion in global purchase volume and maintained $1.1 billion in receivables at year end 2007. Also last month Banco Santander signed preliminary agreements for its takeover of GE Money in Germany, Finland and Austria and its Card and Auto Financing Businesses in the UK. In exchange for the transfer of these assets, GE Commercial Finance Will Acquire Interbanca Italian Commercial Bank from Santander and will assimilate the establishment with GE Commercial Finance. For complete details on GE’s latest results visit CardData (www.carddata.com).

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Card Issuers Spent $22MM on Hispanic Marketing

FL-based Hispanic Market Weekly has conducted research concluding credit card companies spent $22 million on advertising to U.S. Hispanics for the first half of this year, led by VISA’s media buys of $13 million. The findings also show 97% of the $22 million spent on Hispanic advertising came from, in addition to VISA, MasterCard and JP Morgan Chase & Co. with MasterCard having spent $2.2 million and JP Morgan Chase having spent $5.4 million. Hispanic Market Weekly was founded in 1997 and is an authority on news in Hispanic marketing.

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FrontStream Picks-Up $16MM in Funding

TN-based payment solution provider FrontStream payments has secured $16 million in equity funding. FrontStream Payments products and services include turnkey solutions that enables small and medium sized merchants to increase revenues through the acceptance of credit and debit cards. The company also helps drive customer relationship management and loyalty efforts by allowing them to offer their own “branded” loyalty, gift and prepaid cards. Investors in this initial round included SSM Partners, Noro-Moseley Partners, the Wakefield Group, Southpoint Capital, and management.

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TRAVELEX VISA

Payzone has appointed Mike Maloney and Nigel Bell CEO and CFO,
respectively. Maloney excepts his new role having seceded his position as
COO with British Telecom Ireland, where he has served since 2004. Prior
to this, Maloney was executive chairman of Eurocommerce Payment
Solutions between 2002 and 2004 and is in addition to his experience as
an executive in the industry for the 6 years prior with other
organizations.
Nigel Bell moves up from his position as Payzone’s group financial
controller
to the interim Chief Financial Officer effective immediately.

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