Management expects the acquisition to add approximately 6,500 merchant accounts to Pipeline’s existing portfolio, resulting in approximately $200,000 in additional monthly cash flow. It will also generate 400 new merchant applications monthly. The purchase price for the initial acquisition is $9.5 million in cash and $1 million in Pipeline restricted common stock.

    This represents a 22.85 percent premium for Moneyline shareholders on the basis of the average closing price over the last 20 trading days preceding the announcement of the merger.

    A compliance report was submitted by Qualified Data Security Company (QDSC), AmbironTrustWave (www.atwcorp.com) and validated by Visa USA. This set of best practices is designed to help merchants of all sizes and types to protect the consumer cardholder data they store, process and transmit.

Through this strategic partnership, EFT Canada will utilize SPS’s technology platforms to provide clients with a comprehensive generic and custom card programs.
    The companies initially expect to launch its service on the Lipman Nurit 8320 multi-application terminal as well as the Tech Trex “Prime Trex” terminal.

    “The $5 note is widely used in a variety of vending, transit farecard and self-service machines,” said Bureau of Engraving and Printing Director Larry Felix. “We have already begun working with the manufacturers of those cash-handling machines and their customers, so they have ample time to adjust their equipment to accept the redesigned $5 note when it enters circulation.” The latest series of U.S. currency began with the introduction of the $20 note in 2003, and continued with the $50 note in 2004 and the $10 note in 2006. The redesigned $5 note is expected to be issued in early 2008 with the $100 note to follow.

    Bankcard Pros provides sales offices with complimentary marketing templates in PDF format including training manuals, sales presentation books, product sheets, sales brochures and marketing flyers. All complementary materials are including in the software’s document download center.

    The PCI Data Security Standard was instituted in late 2004 to unify the bankcard industry security requirements for storing, processing and transmitting cardholder data. PCI encompasses the standards of Visa’s Cardholder Information Security Program (CISP) and MasterCard’s Site Data Protection (SDP) Program. Merchant compliance requirements are segmented into four merchant levels based on the number of transactions a merchant processes annually. Fifth Third has a significant number of merchants at each level.

    “MasterCard has always maintained that these interchange fees, and the manner in which they were established, were entirely lawful because they enabled MasterCard’s credit card business in the UK to compete effectively with other payment providers,” said MasterCard General Counsel Noah J. Hanft.

    In his article, entitled Better than Cash?, Global Proliferation of Payment Cards and Consumer Protection Policy, Rosenberg says that the Visa USA and MasterCard, Inc. networks consider banks and merchants in determining chargeback rules, but ignore the effects those rules have on consumers.
   Therefore, according to Rosenberg, issuers tend to restore disputed charges to a consumer’s bill if the merchant says the charge was valid. Another problem, according to Rosenberg, is that the networks won’t disclose their rules to anyone not affiliated with a member financial institution or regulatory agency.

    The Amended Complaint related to Hypercom’s restatement of its financial statements for the first three quarters of 2004 because certain leases generated by Hypercom’s UK subsidiary were incorrectly accounted for as sales-type leases, rather than operating leases. In its July 5, 2006 Order, the District Court found that the Amended Complaint failed to state claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

    For the past eight years, FAC has successfully been provisioning multi-currency, multi-jurisdictional solutions for e-commerce merchants in various industries including VoIP, pre-paid cards, online pharmacies, herbal supplement providers, travel companies, retail, electronics, car rentals, electronic cash and alternative payment solutions.

    As part of this settlement, First Data and Visa agreed to work together to build a stronger business relationship to focus on streamlining the payments processing business. To achieve this, Visa will provide financial support to pursue mutual business opportunities and cost cutting initiatives that are expected to drive new innovation, reliability, security and new merchant acceptance. First Data will transition existing private arrangements between itself and Visa member financial institutions onto VisaNet. Specific terms of the settlement are confidential.

    The merger was announced earlier in 2006. The new network, which retains the MoneyPass name, now provides more than 10,000 ATMs located in all 48 continental states and ranks as the nation’s third largest surcharge-free ATM network. MoneyPass now has more than 600 participants, bringing more than 21 million cardholders into the MoneyPass network. In addition to providing surcharge free network access, MoneyPass participation also offers participants comprehensive service and support, marketing programs, ATM signage and an online ATM locator.

    “The public has a right to know they are paying hidden interchange fees on virtually every transaction — fees that are anti-competitive and fixed in secret by Visa, MasterCard and the banks that issue their credit cards,” said FMI President and CEO Tim Hammonds. “Very few consumers are aware of the interchange fees that cost them tens of billions of dollars a year. Credit card companies prohibit retailers from disclosing the fees on receipts, monthly statements or other written records.” American consumers pay among the highest interchange fees in the world. Investigations by central banks and competition commissions in the European Union, United Kingdom, Australia and elsewhere found that the fees far exceed the actual costs of payment services. These findings are prompting governments around the world to order that the fees be disclosed to consumers and reflect reasonable transaction costs, according to FMI.