eCashflow Systems Offers PDS Solutions

E Transaction Solutions, dba eCashflow Systems, is now marketing Payments Data Systems’ complete solution set for merchant services and its credit card gateway. eCashflow Systems will be directly marketing the complete solution set for merchant services, credit card gateway, CSR View product and the Account Updater functionality designed for businesses that accept payment in a “card not present” environment. Payment Data Systems, Inc. is an Integrated Payments Solution Provider delivering comprehensive, cost-effective solutions to billers and retailers for the processing and management of electronic payments. E Transaction Solutions Inc. is a provider of NSF collection services.

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Societe Generale Selects eFunds

Societe Generale has selected eFunds to provide complete
card processing services for the bank’s international retail
subsidiaries. eFunds will offer each subsidiary full
third-party processing services across the transaction lifecycle,
including ATM management, merchant acquiring, back-office services and
card management. Societe Generale serves more than 17 million individual
customers worldwide.

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CGS to Distribute Morgan Beaumont Cards

CGS Financial Technologies has signed a deal to distribute the Morgan Beaumont card products. It will become a part of the SIRE Network and provide the necessary software to all of the POS terminals in the channel. CGS has over 2,000 locations in its current POS network. CGS Financial Technologies provides retailer-consumer financial solutions. Morgan Beaumont, Inc.is a provider of stored value and debit card solutions in the US.

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Diebold Lowers Projections for Q2 and 05

Diebold lowered its second quarter and full-year earnings per share guidance for 2005 citing slowing upgrade/replacement activity in the regional bank segment and strengthening of the dollar. Additionally, the company has identified a reconciliation issue in its North America sales commission accrual account with the impact on specific prior years yet to be determined. As a result of this reconciliation, the company has determined the commission account was under accrued by approximately $13 million at the end of 2004. Diebold, Incorporated provides integrated self- service delivery and security systems and services, with reported revenue of $2.4 billion in 2004.

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Bankruptcy Filings Slow After April Peak

Personal bankruptcy petitions in May rose nearly 5% over year ago levels but fell sharply from the surge experienced in April when filings soared nearly 17% year-over-year. It is expected that bankruptcy filings will run higher as the clock continues to tick towards the October 17th effective date of new laws. Nearly 143,000 filings were made during May, compared to 136,509 for May 2004. This is the third month in a row that filings have moved up sharply after a steady two-year decline. Bankruptcy filings declined about 4% for the full-year of 2004. In January, filings dropped 13% and during February filings dived by 17% year-over-year.

Monthly Filings Historical
May 04: 136,509
Jun 04: 127,742
Jul 04: 133,390
Aug 04: 125,783
Sep 04: 127,664
Oct 04: 133,404
Nov 04: 116,952
Dec 04: 113,957
Jan 05: 99,705
Feb 05: 103,457
Mar 05: 165,459
Apr 05: 170,130
May 05: 142,915
Source: CardData (www.carddata.com)

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EMV Can Add More Value to Banks and Merchants

MasterCard Europe says banks are now looking to vendors and MasterCard to help them turn a cost savings measure into a new revenue source. As such, EMV presents a huge new opportunity for the payments industry. MasterCard recently held its “Global Vendor Information Forum” to bring together members of the global “MasterCard Vendor Program,” to enhance the business relationship between MasterCard and vendors who are supplying solutions to its member financial institutions throughout the world. Globally, there are now over 132 million MasterCard
branded cards that are EMV compliant, representing a 169% increase since
the beginning of 2004. There are 2.4 million EMV point-of-sale terminals which accept MasterCard branded chip cards, a 205% growth since the beginning of last year.

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Certegy Names a New SVP HR Chief

Certegy has landed Sherri Nadeau, formerly with Equant, as SVP and Chief Human Resources officer. Nadeau brings over 20 years of experience in human resource management and tax expertise to Certegy. She previously held senior human resource positions at Equant, Inc. (formerly Global One), Universal Studios and Holiday Inn Worldwide and served as senior tax manager for KPMG Peat Marwick. Certegy provides credit and debit processing, check risk management and cash access services, merchant processing and e-banking services to over 6,500 financial institutions, 100,000 retailers and 100 million consumers worldwide.

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LifeLock Supported by Industry Veterans

Scottsdale, AZ-based LifeLock got a big shot in the arm as two top industry guns join its executive and advisory boards. The Company, which provides preventative identity theft protection services, announced that Luke Helms, former vice chairman of Bank of America and Inder Singh, former EVP and chief global technology officer for VISA International, have become senior advisors to the LifeLock management team. Helms will serve as Chairman of the Board. Singh will serve as an advisory board member. LifeLock places alerts on credit bureaus, stops pre-approved credit card applications and monitors credit files for consumers. (CF Library 6/17/05)

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U.S. Security Breach Hits A/P

As many as 500,000 credit card accounts in the Asia-Pacific region may have been exposed to potential fraud as a result of the security gap at CardSystems Solutions that took place between November 2004 and May 2005. Published reports claim 67,000 Japanese accounts and 50,000 Australian accounts were compromised. The U.S. breach reportedly took place following the installation of new data mining software which enabled a rogue computer program to extract files.

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NBS Certifies Systech’s IPG/7000 Converter

Minnesota-based National Bankcard Services has certified Systech’s “IPG/7000” dial-to-IP converters for retail petroleum POS applications. The solution gives merchants the flexibility to convert to broadband IP without new expenditures for POS hardware or software and in-store payment devices such as POS controllers, ATMs, POS terminals, and check readers can be connected to the Systech solution. National Bankcard Services is a leading provider of electronic payment and loyalty services. Systech Corporation designs and manufactures Internet Payment Gateways for electronic transaction markets.

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Cardinal Teams with Cart32 and Scan Alert

CardinalCommerce has partnered with Cart32 and Scan Alert to actively fight e-commerce fraud and chargebacks. CardinalCommerce’s authentication platform is now integrated into Cart32 Version 6.0, a shopping cart system for Windows, allowing merchants the ability to participate in the 3-D Secure authentication initiatives. Cardinal Commerce’s proprietary technology provides the ability to conduct fully authenticated Internet-based e-commerce. ScanAlert is a web site security certification company, protecting over 65,000 web sites in 30 countries through the HACKER SAFE certification program.

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