American Express OPEN & StubHub Partner

American Express OPEN and ticket vendor StubHub have partnered to offer a 3% discount to business owners for ticket purchases. OPEN Savings is a benefit embedded within all American Express Small Business Cards. American Express Business Cardmembers simply need to use their small business credit or charge card for purchases with any OPEN Savings partner to take advantage of discounts. The savings will automatically appear on the Cardmember’s monthly statement and can be tracked when accessing an account at http://www.open.com. OPEN Savings discounts are calculated on the full transaction amount, including any taxes and surcharges.

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VISA IPO Tops $19B and Hits $60 Per Share

The underwriters of VISA Inc.s’ initial public offering exercised their over-allotment option to purchase an additional 40.6 million shares at $44 per share. The action boosted the VISA IPO to $19.1 billion as it trades nearly at $60 per share this morning. VISA’s IPO was the largest domestic initial public offering in U.S. history and the third largest initial public offering worldwide. To mark the occasion, VISA’s Chairman and CEO Joseph W. Saunders yesterday rang The Opening Bell at the NYSE and was joined on the trading floor by 30 middle school students from the Kappa V School in Brooklyn, NY. The students were on hand to view the first public trade of VISA shares, which Saunders personally conducted on behalf of the Teach for America Program, the national corps of top college graduates who commit two years to teach in rural and urban public schools.

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Hannaford Bros Data Breach Draws Lawsuits

Philadelphia-based Berger & Montague has filed a lawsuit against Hannaford Brothers over its alleged payment card data breach. The complaint alleges that Hannaford was negligent for failing to maintain adequate computer data security of customer credit and debit card data, which was accessed and stolen by a computer hacker. The stolen data included “credit and debit card numbers and expiration dates,” which were accessed from Hannaford’s computer system “during transmission of card authorization.” The intrusion affected all Hannaford stores located throughout the North Eastern U.S., as well as Sweetbay stores in Florida. About 4.2 million unique credit and debit card numbers have been exposed to potential fraud. To date, there have been approximately 1,800 cases of reported credit and debit card fraud stemming from the breach.

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TransferOrbit and FonWallet Do the Tango

St. Louis-based TransferOrbit has signed a strategic alliance with FL-based FonWallet Payment Solutions. By this agreement, FonWallet becomes the developer of mobile transaction solutions for TransferOrbit. Under the agreement, FonWallet will include TransferOrbit as its exclusive provider for money transfers, bill payments, and remote purchase transactions on the “FonWallet Mobi” platform. TransferOrbit is an electronic intermediary for money transfer providers. Banks and non-banks use the Company’s scalable, turnkey system of proprietary software and secure network processing to facilitate the person-to-person transfer of money on a “private label basis” throughout Latin America. Providers piggyback on the Company’s established network in the United States and 17,000 transfer agents in countries throughout Latin America.

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Solidus’ Pay By Touch Service Says Bye Bye

San Francisco-based Solidus Networks and its Pay By Touch biometric payment business have shut down. The Company will no longer process biometric transactions on behalf of its merchant customers and consumer membership base. In December the Company filed for U.S. bankruptcy protection under Chapter 11. As part of the company’s restructuring, it was determined that the enterprise could no longer support the biometric authentication and payment system as it currently exists, based on lack of funding and current market conditions. Other non-biometric Solidus Networks business units continue on their current business paths.

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Card Activation Technologies Patent Upheld

Chicago-based Card Activation Technologies reports its patent covering a method for the activation and processing of transactions related to debit styled cards, which include gift cards, phone cards and other stored value cards, has been ruled valid by the U.S. District Court for the Northern District of Illinois. The court issued its ruling in response to a motion to declare the patent invalid that was filed by Barnes & Noble.

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TSYS & STANDARD BANK

TSYS has signed a contract to provide Standard Bank of South Africa card issuing, merchant acquiring and related payment services for the multiple countries across Africa in which they operate. Standard Bank’s issuer cardholder accounts and acquirer merchant
accounts will be processed on TSYS’ global single source, multi-client
processing solution supporting multiple countries, languages,
currencies, functional requirements, regional infrastructure and
regulations. Standard Bank is a South African-based financial services company with a
global presence, operating in 18 countries in Africa and 20 on other
continents, including the key financial centres of Europe, the Americas
and Asia.

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Comdata Revenue Jumps More Than 13% in Q4

Ceridian’s Comdata posted its 15th consecutive quarter of double digit revenue growth up 13.2% over 4Q/06. Higher fuel prices contributed about 3% to the growth rate. Overall growth was driven primarily by strong Comdata card transaction growth in both the over-the-road and business fleet segments, private label processing and in regulatory compliance. Overall transportation business transactions were up about 5%. Growth in the retail services business was in the high single digits for the quarter, tempered somewhat by a weaker domestic retail environment. Comdata’s margins for the quarter were 31.9%. Comdata’s margins for the quarter were lower on a year-over-year basis because of a higher mix of lower margin gift card sales and additional IT investments in the retail services business. Margins in the Comdata transportation services business remained robust. For complete details on Ceridian’s performance visit CardData (www.carddata.com).

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BBL & DBD

Bangkok Bank has agreed to purchase 1,200 Diebold “Opteva” ATMs with an “Agilis Software and Service Contract.” Last November, Diebold began installing approximately 200 of its “Opteva” ATMs in BBL bank branches and retail stores throughout Thailand. BBL will continue with these large-scale installations every month in 2008 until a total of 1,200 terminals are deployed. Diebold and BBL developed a relationship nearly a decade ago, when BBL allowed Diebold to maintain some 600 ATMs and subsequently ordered more than 4,000 terminals to serve its growing customer base. BBL offers a full range of business, investment and personal banking services, with more than 800 branches, 4,400 ATMs and approximately 700 cash deposit machines.

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Discover Q1 U.S. Card Profits Hold Steady

Discover Financial Services reported its U.S. Card segment produced solid results in the first quarter with pretax income of $375 million, down 6% from 1Q/07, as higher provision for loan losses was largely offset by increased net interest income and other income. U.S. Card managed loans grew to $47.5 billion, up 2% from last year driven primarily by a 5% increase in sales volume. The first quarter U.S. Card managed credit card net charge-off rate was 4.37% and the managed over 30 days delinquency rate was 3.93%, up 51 basis points and 62 basis points, respectively, from last year. Third-Party Payment debit and credit volume was $26.3 billion for the first quarter, 24% above last year. For more details on Discover’s first quarter performance visit CardData.com.

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NetSuite Integrates PayPal’s Express Checkout

NetSuite has integrated its “Ecommerce” shopping cart with PayPal’s Express Checkout online payment service. The integration of PayPal Express Checkout delivers an all-in-one payment platform for ecommerce companies that can reduce shopping cart abandonment and increase sales. With NetSuite, merchants have real-time visibility into all their business operations in one system — from the online store, to inventory, fulfillment, shipping, marketing promotions and customer buying patterns for up-sell and cross-sell analysis. The addition of PayPal Express Checkout to their NetSuite-powered Web Stores gives them access to more than 141 million PayPal accounts in over 190 markets around the world. With a large account base of savvy online shoppers, small- and medium-sized businesses often see an average sales lift of 14%.

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FreedomPay Introduces the B2B Patriot Card

Cashless transaction provider FreedomPay has rolled out the “Patriot Card” business-to-business closed network payment system. The Patriot Card is a lower cost alternative to the manual processing of payments and credit cards resulting in increased convenience and accounting for the consumer and increased profit for the caterer. FreedomPay provides cashless transaction solutions to the nation’s largest hospitality foodservice providers, healthcare systems, Fortune 1000 corporations, universities, and government and military installations.

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