Misys Inks Islamic Development Bank Service Agreement

The Islamic Development Bank Group has signed a service agreement with Misys financial app software to enhance the Treasury and Investment Departments within the IDB Group. Misys will provide various solutions including Opics Plus, Opics Risk Plus, Sophis VALUE and Eagleye to enhance the capacity of the Treasury and Investment functions to serve IDB’s clients more effectively and make its internal processes more efficient as part of IDB Group Business Enhancement and Systems Transformation (GBEST) Program. This will enable IDB to monitor and report risk exposure across the IDB Group. The Misys solutions will fulfill the IDB Group treasury and investment needs for straight-through processing across the entire operations, including analysis, trade execution and risk management.

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VeriFone to Facilitate Contactless Payment

VeriFone Systems is set to provide the Banamex Bank merchant payment solution to deploy contactless payment. Banamex is implementing a full-scale contactless payment deployment, under which several thousand VeriFone contactless-enabled card acceptance systems will be deployed to 1,900 merchants in the Mexico City metropolitan area. The bank is also issuing 100,000 contactless credit and debit cards to begin the transition to the new innovative way of payment. The bank will deploy the VeriFone VX 520 to merchants who use traditional standalone countertop systems, and the VX 820 advance PIN pad to larger retailers that integrate payment systems to electronic cash register systems. The bank expects to have issued 1 million contactless cards and to have deployed 12,000 payment acceptance systems before 2013.

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DataCash Launches Magento Platform for Online Merchants

DataCash and Session Digital of Magento partnered on the launch of a DataCash module offering merchants using the Magento platform secure international payments. The Magento eCommerce platform provides over 100,000 merchants globally with a high degree of flexibility and control over the user experience, content and functionality of their online store. Magento Enterprise, the company’s premiere solution, enables mid- to large-sized merchants to build and run fully functional online stores. Merchants can accept secure, international payments through DataCash’s robust payment gateway which processes over one billion transactions each year and prevents over GBP1m of attempted fraud every day. This also provides connectivity into fraud and risk management; multiple integration options; tokenisation; and recurring payments.

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Dollar Bank Deploys mRemote Deposit

Dollar Bank has implemented WAUSAU Financial Systems’ “Deposit 24/7 Mobile” mobile remote deposit capture solution from its Deposit 24/7 Suite. The bank has seen great success, processing nearly 2,500 deposits totaling $500,000 through the solution. A 2011 Celent study notes that approximately 80 percent of surveyed financial institutions are considering a mobile RDC solution, but as a Javelin and USAA study shows, many aren’t taking action. Despite the benefits of the technology for all parties and its “must have” status to keep up with consumer demand and achieve cost savings, several of the 10 largest U.S. financial institutions still aren’t offering mobile RDC to customers. WAUSAU is currently expanding its “Deposit 24/7 Suite” to provide the small and mid-tier business markets a receivables hub that accepts checks and electronic payments for ACH and credit card.

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TSYS Inks JV with Central Payment

TSYS announced its joint venture with Central Payment, in which it holds a 60% stake and will function as a TSYS affiliate. The Central Payment privately held direct merchant acquirer focuses on merchants in the restaurant, personal services and retail sectors and currently uses TSYS technology for payment processing. The joint venture will be governed by a board of directors including both TSYS and Central Payment executives.

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Global Cash Access Posts 2Q/12 Net Income Up 450%

Global Cash Access Holdings posted 2Q/12 operating income up 125% quarter-over-quarter to $16.0 million; net income per share up 450%; and cash EPS increased 92% quarter-over-quarter to $0.23. Revenues were $147.5 million for the second quarter 2012, as compared to revenues of $135.1 million for the same period in 2011. The overall increase in revenues was primarily due to the MCA asset acquisition coupled with modest organic growth in the Company’s base business. Operating income was $16.0 million for the second quarter 2012, an increase of 125%, as compared to $7.1 million for the same period in 2011. Earnings before interest, taxes, depreciation and amortization (“EBITDA”) (see Non-GAAP Financial Information below) were $20.1 million for the second quarter 2012, an increase of 68%, as compared to $12.0 million for the same period in 2011.

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Cardtronics Buys Out ATM Network

Cardtronics wholly owned subsidiary acquired all the assets of ATM Network, including its merchant contracts, customer relationships, online store and web properties. ATM Network’s management team and employees are expected to join Cardtronics. ATM Network provided ATM services to independent merchants, primarily on the local level and grew into a nationwide company, boasting a merchant client count topping 6,000. The assets of ATM Network deliver a complement to Cardtronics’ existing independent merchant ATM business, which has historically filled its sales pipeline through indirect sales efforts, primarily through a network of dealer relationships. The acquisition of ATM Network’s assets pushes Cardtronics’ merchant-owned ATM count to 21,300 machines under contract.

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American Express Appoints Executive VP/CIO

American Express appointed Marc D. Gordon Executive VP, CIO and consequently a Corporate Officer upon his election by the American Express Board of Directors. He most recently served as Enterprise CIO and Chief Technology Officer at Bank of America, where he led the development of industry-leading capabilities and innovations at very large scale. Previously, he was CIO for Best Buy and The Timberland Company. Marc began his career as a consultant at Accenture, serving clients across a range of industries. Gordon holds a bachelor’s degree in economics from Colby College and a master’s degree from MIT’s Sloan School of Management.

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Syncada from Visa Launches Enhanced Capabilities

Syncada made available its e-invoicing tool to allow companies to further automate invoice processing and improve efficiency by eliminating manual paper processes. Experts predict electronic processing and payment solutions, such as Syncada, will render paper-based invoice processing and management obsolete. The launch of this innovative e-invoicing solution, European corporates may reap the benefits of e-invoicing while making payments and providing financing to suppliers around the globe. Integrated directly into the multibank network, the e-invoicing tool meets certain requirements set forth by European Union regulators”including the ability to e-sign invoices as well as robust data capture to enable compliance with tax regulations.

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Wells Fargo Named Best Internet Bank

Global Finance magazine has named Wells Fargo & Company Best Corporate/Institutional Internet Bank and Best Consumer Internet Bank in the United States. In its 13th annual World’s Best Internet Banks competition for North America, Global Finance magazine also recognized Wells Fargo, among corporate/institutional banks, as Best Mobile Banking (for the second consecutive year), Best Online Treasury Services, and Best Web Site Design. Among consumer Internet banks, Wells Fargo earned awards for Best Web Site Design, Best Bill Payment & Presentment (for the fourth consecutive year), and Best Social Media (for the second consecutive year).

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Visa Account Holders Contribute $1.4B to UK for Olympic Games

International travelers spent an additional US$716.7 million on their Visa accounts while in the United Kingdom during the second week of the London 2012 Olympic Games (July 30 – August 5), bringing the total spend on Visa accounts in the United Kingdom to more than $1.4 billion. While the biggest Visa spenders still hail from the United States, Visa account holders from Russia – one of the top 15 contributors to the London 2012 Olympic Games – have increased travel spend on their Visa accounts by more than 30 percent for the second week in a row. The top 10 contributors to the overall spend throughout the United Kingdom on Visa accounts by country/territory during the second week of the Olympics include United States ($91.0 million); Japan ($47.4 million); and France ($44.5 million). The bottom three include Germany ($33.3 million); Canada ($25.3 million ); and Sweden ($23.9 million).

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