NEWS

NAOPP announces 2007 board candidates

The National Association of Payment Professionals announced candidates for its 2007 board positions. They include:

• President: Steve Schwimmer
• Vice President: Craig Lesser
• Treasurer: Ty Rosean
• MLS Director: River Cohen
• Vendor Director: Wendy Zucker.

NAOPP members have received ballots electronically, and voting will continue through Nov. 30, 2006. If you are a NAOPP member and did not receive a ballot, e-mail naopp@netdoor.com

The ETA seeks board members

The Electronic Transactions Association is looking for payments industry professionals to serve on its board of directors. Board members can make a difference by playing a leadership role in the organization, which is dedicated to meeting the needs of the payments industry, the ETA stated. If you are interested in becoming a board member or want to recommend someone for this role, download an application at www.electran.org . The application deadline is Dec. 4, 2006.

Business.gov re-launched

Business.gov, a Web site where business owners can access federal compliance information, was recently re-launched. Originally debuted in 2004, the site contains information on starting, managing, growing and exiting a business. It is managed by the U.S. Small Business Administration in partnership with 21 federal agencies.

Coalition against child porn gains four members

Chase Paymentech Solutions LLC, Global Payments Inc., HSBC - North America and Washington Mutual Inc. joined the Financial Coalition Against Child Pornography. The coalition, which includes banks, credit card companies, third-party payment companies and Internet service providers, is dedicated to fighting child pornography on the Internet.

Comdata wins verdict

A jury rendered a verdict in favor of Comdata Corp.'s Stored Value Solutions Inc. in a patent infringement suit brought by Barry Fiala Inc. The jury found that Comdata did not infringe U.S. Patent No. 5,918,909 owned by Fiala Inc. In addition, the jury found that the patent is unenforceable due to inequitable conduct before the U.S. Patent and Trademark Office.

Discover releases Small Business Watch

Discover Financial Services LLC released the results of its Small Business Watch for October 2006. Thirty-three percent of respondents said they will increase spending on business development activities, while 32% said they would decrease investment spending.

Consumers spend more when using credit cards in vending

A survey from USA Technologies found that consumers spend an average of 32% more per vending transaction when using a credit card. The results of the Cashless Vending Survey showed that consumers spend 35.1% more on beverages, 34.2% on snacks and 17.5% on food when they use credit cards.

ATM and returned check fees at all-time high

Bankrate.com released the results of its Fall 2006 Checking Account Pricing Study. The study found that ATM and bounced check fees hit a new record high, reaching $1.64 and $27.40, respectively. The survey also found that fewer banks are charging their own customers for using another bank's ATM. View the study results at www.bankrate.com/checkingstudy

Philly Fed debuts virtual tour

The Philadelphia Federal Reserve Bank launched an enhanced virtual tour of its Money in Motion exhibit, which provides information about money, banking and the Federal Reserve System. The tour can be accessed at www.philadelphiafed.org/money_in_motion/tour.html

ANNOUNCEMENTS

Eliot Management Group wins award

Eliot Management Group was recognized in the MountainWest Venture Group's Utah 100 Awards, placing 6th among 100 of the most successful companies in the state.

Gemalto meets Visa specifications

Gemalto launched a banking microprocessor card to perform multiple types of Visa payments: contact EMV (Europay, MasterCard, Visa), EMV-based contactless and magnetic stripe data contactless. The card is the first contactless product to meet Visa's global contactless specification for interoperability and will be available to major financial institutions starting January 2007.

MagTek receives Innovation Award

MagTek Inc. received the 2006 Innovation Award from the China International Financial Technology and Equipment Association for the category representing Financial Information and Technology. MagTek was selected for its ExpressCard 1000 all-in-one instant-issuance and card personalization platform for credit, debit, ATM and gift cards.

Jack in the Box goes contactless

Contactless card readers are being installed at all Jack in the Box restaurants. Installation is expected to be completed by year-end.

Free processing offered

Secure-eBill is offering free transaction processing for new merchants who accept its payment option between Nov. 10, 2006, and Feb. 28, 2007. Secure-eBill will also offer a $25 rebate to consumers who shop at those merchants' sites during that period and pay for online purchases using the payment option.

Association releases contactless specs

The Smart Payment Association released the first version of its contactless data storage specifications. The document defines how to securely store and manage data for value-added applications. The association is a nonprofit group dedicated to fostering and facilitating the use of smart cards to make payments.

Targan receives leader and innovator award

Payments Attorney Holli Targan, Partner with the law firm Jaffe, Raitt, Heuer and Weiss, was profiled as a 2006 Lawrence Technological University Leader & Innovator in the Oct. 10, 2006, Great Lakes Innovation and Technology Report. The honor recognizes effectiveness in combining leadership and innovation to improve the quality of the global business community.

PARTNERSHIPS

TransNational certifies 4Access terminal

TransNational Bankcard Class-A certified and deployed the Orion all-in-one check reader, imager and card solution from 4Access Communications Co.

CommercialWare and AmbironTrustWave partner

CommercialWare Inc. and AmbironTrustWave announced a partnership to offer Payment Card Industry Data Security Standard compliance services to their joint customers.

Nxgen Payment Services partners with Cynergy Data

Nxgen Payment Services formed an ISO relationship with Cynergy Data. Cynergy Data will provide enhanced programs, support and data availability for Nxgen's national sales force, agent banks and referral sources.

First Data renews contract with Wells Fargo

First Data Corp. and Wells Fargo & Co. renewed and expanded their agreement for consumer credit and small business card processing services. First Data will continue to provide Wells Fargo with card processing services, including statement production and mailing, plastic card personalization and fraud services.

Global Payments allies with Ruesch International

Global Payments Inc. signed a referral agreement with Ruesch International Inc. Ruesch will refer clients to Global Payments, and Global Payments will refer agent banks and business clients to Ruesch for its cross-border payment processing and foreign exchange transaction needs.

Hypercom product approved by MasterCard

Hypercom Corp. announced its Internet-protocol (IP) enabled Optimum T4100 is the first card payment terminal to gain approval under MasterCard Worldwide's POS Terminal Security program.

Sam's Club accepts MasterCard

Sam's Club will accept MasterCard-branded credit cards. Previously, the retailer only accepted credit cards from its own private label and cards issued by Discover.

TD Banknorth renews NYCE contract

NYCE announced a long-term contract renewal with TD Banknorth, extending its role as the bank's sole provider for PIN-based POS debit card access. TD Banknorth will also use NYCE as its primary network for ATM card access.

Radiant Systems to offer VeriFone system

Radiant Systems Inc. formed an agreement with VeriFone to offer VeriFone's On The Spot mobile electronic payment system with Radiant's Aloha POS system to restaurant operators in North America.

TASQ Technology adds Panini scanner

TASQ Technology added the Panini My Vision X check scanner to its single-source solution for remote deposit capture. TASQ will provide the Panini My Vision X through a variety of purchase, rental and lease options.

VeriFone product line MasterCard-approved

VeriFone announced its Vx Solutions products were the first to achieve product-line compliance with MasterCard's POS Terminal Security program specification regarding security of IP-based systems.

ACQUISITIONS

Comdata acquires HQ gift cards

Comdata Corp. acquired HQ Gift Cards LLC. Terms of the transaction were not disclosed. HQ Gift Cards will be integrated into Comdata's Stored Value Solutions division in Louisville, Ky.

Innuity to acquire Creditdiscovery

Innuity Inc. entered into an agreement to acquire substantially all the assets of Creditdiscovery LLC and Acquirint LLC for 454,000 shares of Innuity's common stock and the assumption of $95,000 in liabilities.

Planet Payment acquires processing platform

Planet Payment acquired the credit card processing platform and related Bermuda assets of TransWorld Payment Solutions Ltd., Bermuda in exchange for Planet Payment common stock valued at approximately $750,000. Planet Payment's processing agreement with TransWorld will be terminated, and Planet Payment will assume the running costs of the processing platform.

APPOINTMENTS

Hypercom appoints two

Hypercom appointed Kazem Aminaee as Senior Vice President and General Manager - Hypercom EMEA. Aminaee joins the company from Gemplus Group where he served as Senior Vice President, Financial Services, EMEA. He also held positions with Ingenico Group, Bull Smart Cards & Terminals, Bull Information Systems Ltd. and RIVA France S.A.

Hypercom also named John Tait as General Manager for the company's Australia, New Zealand and Pacific region. Tait joins Hypercom from Provenco Group Ltd., where he served as General Manager of Provenco Payments Ltd. for six years.

VeriFone completes Lipman acquisition; names executives

VeriFone completed its acquisition of Lipman Electronic Engineering Ltd. The company expects revenue to grow 10% to 15%. William Atkinson is VeriFone's new Executive Vice President, Payment Systems.

Isaac Angel is Executive Vice President of Operations. David Turnbull is Global Head of Research and Development. Jesse Adams was named Vice Chairman. Bud Waller continues as Executive Vice President, Integrated Systems, and Barry Zwarenstein continues as Chief Financial Officer and Executive Vice President.

The ETA appoints Bills to committee

Aaron Bills was selected by the ETA to serve on its Best Practices Committee. The committee is responsible for identifying and developing policies, procedures and practices that will propel the payments industry.

Craig to head Online Resources division

Robert R. Craig is the new Executive Vice President and General Manager of E-commerce Services for Online Resources Corp. Craig co-founded Remitco before First Data acquired it in 2000. Craig most recently served as head of business development for First Data's remittance processing business.

Dunbar named Nietech President/CEO

Don Dunbar is the new President and CEO of Nietech Corp. Dunbar has served as CFO of Nietech since 2003 and will also continue in that role. Dunbar is a Founder, former Vice President and board Secretary of Sonoma Metal Products Inc.

TransFirst hires new President and COO

John Shlonsky joined TransFirst as President and Chief Operating Officer. Shlonsky spent 11 years at First Data and its affiliates and held various leadership roles throughout his tenure. He served most recently as President of First Data Merchant Services.

PRBC continues expansion, names CEO

PRBC, also known as Pay Rent, Build Credit Inc., completed a round of equity financing that will enable it to expand its business. PRBC hired Corey Stone as CEO. Stone formerly was Vice President of Business Development at CheckFree and Executive Vice President of American Payment Systems.

BOTTOM LINES

• According to a National Retail Federation survey, debit/check cards will be the favored payment form for gift purchases this holiday season, with 39.1% of consumers planning to use debit cards. The number of individuals intending to pay cash has dropped to 24.3%, from 28.5% in 2005. One in three will rely on credit cards. Only 6.2% will write checks at the register.
  
• For the first time, gift cards will supplant toys, games, music and movies as the gift of choice, rivaling even apparel, according to a 2006 American Express Co. gift card survey of 1,013 shoppers. Two-thirds (66%) of shoppers said they will purchase gift cards. Those planning to buy apparel gifts remained steady at 68%.
  
• Outstanding consumer revolving credit, which includes credit card debt, rose a projected 4% in September 2006 to $857.4 billion and at an actual rate of 6.7% in August, the Federal Reserve reported. Nonrevolving credit declined. Revolving credit debt stood at $816.9 billion at the end of the third quarter of 2005.