Friday, June 11, 2010

Muscato Group Acquires M2 Financial and M2 Europe, Expanding its Global Footprint in Payment Cards, Mobile Commerce and Transaction Security


Combining the Technology Strengths of Muscato with the M2 Companies Adds Operating Capability and Market Presence

MAITLAND, Fla.June 11 /PRNewswire-FirstCall/ -- Muscato Group, Inc. (Nasdaq: MGRP) announced today the acquisition of two financial payments services companies, M2 Financial, Ltd and M2 Europe, Ltd. Acquiring these companies strengthens Muscato's European, Mideast, African and Latin American penetration, adds a portfolio of clients and includes key processing certifications with Visa, MasterCard and JCB. Additionally, the acquisitions solidify and provide more control over several relationships with financial institutions for which Muscato currently provides its technology and processing platform for a number of their global financial transaction services.
Muscato now is positioned as the only company that combines the financial industry's best, prepaid payment technology platform, unique, patented fraud prevention tools and consumer friendly access points for its customers. This move positions Muscato as an even stronger competitor in card markets that include corporate payouts and incentive programs, travel related foreign exchange, mall gift programs, cross-border remittance, foreign worker payroll and more.
"These acquisitions solidify our strategy for Europe and the Mideast, as well as other key markets around the world, where our fully-integrated financial payment system and industry-leading security is ideally suited for financial payments and e-commerce, including the emerging mobile payments market," said Michael Muscato, Chairman. He added, "Our strategy is to provide an industry-leading, safe and secure payment platform that will change the paradigm of card security awareness for both financial institutions and consumers."
About Muscato Group
Muscato Group Inc. (NASDAQ: MGRP), specializes in developing, marketing and implementing transaction and payment technologies for both established and emerging markets and creating outlets for licensing and operating its products and services. Muscato Group has a firm foundation in several vertical markets, including healthcare and insurance, logistics and financial payments. Muscato has a 25-year track record of architecting, developing and implementing highly scalable and flexible transaction processing software that includes the world's leading e-commerce transaction security. Visit
SOURCE Muscato Group, Inc.
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Discover Financial Services Announces Second Quarter 2010 Earnings Release and Conference Call

http://www.discoverfinancial.comRIVERWOODS, Ill.--(BUSINESS WIRE)--Discover Financial Services (NYSE: DFS) plans to report its second quarter 2010 results before the market opens on Thursday, June 24, 2010. The earnings release will be available on Discover's corporate website at
A conference call to discuss the firm's results, outlook and related matters will be held at 11 a.m. Eastern time. The general public is invited to listen to the call by dialing 866-730-5765 (U.S. domestic) or 857-350-1589 (international), passcode 62239166, or via a live audio webcast through the Investor Relations section of the website. For those unable to listen to the live broadcast, a replay will be available on our website or by dialing 888-286-8010 (U.S. domestic) or 617-801-6888 (international), passcode 17305275, beginning approximately two hours after the event. The replay of the conference call will be available through July 24, 2010.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit


Discover Financial Services

Investor Contact:

Craig Streem

Investor Relations


Media Contact:

Leslie Sutton

Public Relations


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Bill to Grant Obama Emergency Internet Power

U.S. Department of Homeland Security Official ...Image via Wikipedia

Senators propose granting president emergency Internet power
(from CNet at 6-11-2010)
A new U.S. Senate bill would grant the president far-reaching emergency powers to seize control of or even shut down portions of the Internet. The legislation announced Thursday says that companies such as broadband providers, search engines, or software firms that the government selects "shall immediately comply with any emergency measure or action developed" by the Department of Homeland Security. Anyone failing to comply would be fined.... read more»

Bill gives US president emergency Net power
(from zdnetasia at 6-11-2010)
A new U.S. Senate bill would grant the president far-reaching emergency powers to seize control of or even shut down portions of the Internet. The legislation announced Thursday says that companies such as broadband providers, search engines, or software firms that the government selects "shall immediately comply with any emergency measure or action developed" by the Department of Homeland Security. Anyone failing to comply would be fined.... read more»

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Durbin, Debit and Financial Reform


Durbin, Debit, and Financial ReformThe Durbin Amendment is emblematic of the abject failure of Congress and the President to do the right thing. It would require the Federal Reserve Board to regulate the setting of debit card interchange fees so that they are "reasonable and proportional to processing costs". Read More

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Center for Financial Services Innovation to Lead the Creation of Industry-Wide Principles

Official White House photo of President Bill C...Image via Wikipedia

President Bill Clinton Encourages Growth and Progress within the Financial Services Industry

MIAMI--(BUSINESS WIRE)--Jennifer Tescher, Director of Center for Financial Services Innovation (CFSI), announced this morning at The 5th Annual Underbanked Financial Services Forum, CFSI’s plan to launch an examination of the underbanked financial services industry to evaluate current services for underbanked consumers and to facilitate the creation of values that will move this segment of the financial services industry forward.
“Your vision of a marketplace where underbanked consumers can be served in ways that help both the consumer and the industry to succeed, has resulted in a more thriving industry.”
Through a series of forthcoming conversations and surveys with stakeholders across the industry, CFSI will outline a set of aspirational values delineating the quality of products and services that should exist, designed to move the underbanked financial services industry toward an increased supply of high-quality, innovative products and services.
“While government is creating regulations to protect consumers from financial harm and many financial institutions are already executing customer-driven products and services, this as an ideal moment for CFSI to work within the industry to assess existing products and services and develop a new set of values,” noted CFSI Director Jennifer Tescher. “As the nation’s leading authority on financial services for underbanked consumers, CFSI is uniquely positioned to develop industry-wide principles and assist with the rebuilding of consumer trust throughout the underbanked financial industry.”
In a short, pre-taped video President Bill Clinton, founder of the William J. Clinton Foundation and 42nd President of the United States, welcomed guests to Forum this morning and stressed that assisting the underbanked consumer will help the United States heal from the current financial crisis. “Your presence and continued dedication to serving this consumer is critical, to helping our individuals, but also our nation, emerge stronger and more resilient in the aftermath of this terrible financial crisis. We all have a role to play—consumers, businesses, and government—in getting our country back on track.”
President Clinton also acknowledged the growth and progress within the financial services industry stating, “Your vision of a marketplace where underbanked consumers can be served in ways that help both the consumer and the industry to succeed, has resulted in a more thriving industry.” He continued by saying, “I encourage you to think about how you and your organization can make a more meaningful difference and more changes in people’s lives. It really matters.”
The Underbanked Financial Service Forum is the premier event for players across the financial services spectrum. Attendees get the latest information from industry experts and on-the-ground case studies from across the globe, offering the best strategies and solutions to achieve profitable growth and long-term success. The Forum also offers an exhibit hall focused on underbanked solutions and a variety of networking formats. As awareness of the potential value and demographic diversity of the underbanked market continues to grow, the Underbanked Financial Services Forum remains the single best place to learn from and connect with industry leaders transforming the financial services landscape.
For more on the Underbanked Financial Services Forum, visit .
About CFSI
The Center for Financial Services Innovation is the nation’s leading authority on financial services for underbanked consumers. Since 2004, its programs have focused on informing, connecting, and investing – gathering enhanced intelligence, brokering and supporting productive industry relationships, and fostering best-in-class products and strategies. A non-profit affiliate of ShoreBank Corporation, CFSI works with leaders and innovators in the business, government and non-profit sectors to transform the financial services landscape. For more on CFSI, go


Media Contact:

Lorie Bonham

Director of Marketing and Communication, Center for Financial Services Innovation


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U.S. Bank Partners with CashEdge for P2P Payments

New York and Minneapolis, June 10, 2010 -- CashEdge, Inc. ( ), the leading provider of Intelligent Money Movement(TM) services, and U.S. Bank, the fifth largest commercial bank in the nation, announced today that they are partnering to launch CashEdge's person-to-person (P2P) online and mobile payments service, Popmoney(TM), later this year. U.S. Bank will offer Popmoney to its mobile banking customers through and the downloadable mobile banking application, the U.S. Bank Mobile Wallet.

U.S. Bank is the first large U.S. bank to offer a mobile P2P solution that enables users to send money directly from their bank account to anyone with an email address, mobile phone number and a bank account.

"U.S. Bank is committed to the mobile channel, and meeting the emerging needs of our rapidly growing mobile customer base," said Meheriar Hasan, Head of the Internet and Mobile Channel at U.S. Bank. "Popmoney is a secure, easy to use payment service, and we are very excited to offer it to our customers."

"Through Popmoney, U.S. Bank Mobile Wallet users will benefit from the proven reliability, security and robustness of CashEdge's money movement platform, which in 2009 processed nearly $50 billion in online funds transfers for bank customers. For current CashEdge clients, Popmoney is a simple upgrade of their existing TransferNow service," said Neil Platt, Senior Vice President and General Manager, U.S. Banking, CashEdge Inc.

About U.S. Bancorp

U.S. Bancorp (NYSE:USB) , with $282 billion in assets as of March 31, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,025 banking offices in 24 states and 5,312 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at

About CashEdge

CashEdge is a leading provider of Intelligent Money Movement(TM) solutions for financial institutions, including mobile and online person-to-person (P2P) payments, account transfers, account opening and funding, small business applications and financial account aggregation. The Company's clients include hundreds of leading financial institutions, including seven of the ten largest banks in the country, for which they move more than $50B every year. CashEdge's newest offering, Popmoney(TM), is a bank-enabled P2P service that is live at leading banks in the U.S.

CashEdge's industry-leading products include Popmoney(TM) for person-to-person payments; OpenNow®/FundNow® for new account opening and funding; TransferNow® for Consumers, which includes Me-to-Me and Third Party Transfers; and TransferNow® for Small Businesses, which includes Invoicing, Me-to-Me Transfers, Employee Payments and Vendor Payments. All CashEdge products are supported by industry-leading risk management capabilities that leverage proprietary technology to help financial institutions mitigate risk and decrease fraud exposure.

The Company is headquartered in New York with offices in Silicon Valley and India. For more information, visit .

The above contains statements that are based on subjective views, opinions or beliefs of the management. The data provided herein is based solely on CashEdge's solutions and does not relate to any specific financial institution or client or the industry.

Source: Company press release.

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Retailers Make a Dent in Organized Retail Crime, But Theft Still Growing Problem for Industry, According to NRF

- Survey Identifies Top 10 Cities for Organized Retail Crime -
http://www.nrf.comWASHINGTON--(BUSINESS WIRE)--Industry partnerships, concerned law enforcement officers and resilient retailers have done their part in making a small dent in the growing problem of organized retail crime, but new research shows there’s still a lot of work to be done. According to NRF’s sixth annual ORC survey, 89.5 percent of retailers surveyed say their company has been a victim of ORC within the past 12 months, a slight decrease from last year’s 92.2 percent.
The survey also found that nearly six out of 10 (58.9%) retailers have seen an increase in ORC activity in the last 12 months, down from the nearly three-quarters (73.0%) who said so last year.
“The relationships retailers have built with local, state and federal law enforcement agencies are making it harder for felons, but billions are still being lost each year from this exhausting battle with criminals,“ said NRF senior asset protection advisor Joe LaRocca. “NRF will continue to lead the fight to make sure these criminals are severely punished while federal agents and police continue to wipe out other crime rings.”

For the first time in the survey’s history, NRF asked retail executives to list cities where organized retail crime affects their stores and/or distribution centers most. The top 10 cities in alphabetical order include: Baltimore/Washington, D.C./Northern V.A., Chicago, Dallas, Houston, Los Angeles, Miami/Ft. Lauderdale; New York/Northern New Jersey, Philadelphia, San Francisco, Tampa/Orlando.
As the economy continues its slow recovery, retailers are starting to invest more resources into ORC awareness and prevention. Nearly half (48.4%) of retailers say they are allocating additional resources to address ORC, up from 41.8 percent of respondents last year.
Thanks to NRF’s recently-announced partnership with eBay, the world’s largest online marketplace, as well as initiatives between NRF and federal and state law enforcement agencies, retailers have had some success identifying stolen merchandise at physical fence locations such as pawn shops and temporary stores (62.5%) and through e-fencing operations (66.1%), where stolen merchandise is sold through online auction sites. Both represent an increase over last year, a sign that criminals may be stealing more, but retailers are also doing a decent job keeping up with them.
When asked if they believe top management understands the complexity and severity of ORC, 50.0 percent of retailers said yes, up from 48.7 percent last year. Many retailers surveyed also say law enforcement understands the problem the industry faces (39.5% vs. 37.7% last year).
NRF will address organized retail crime along with other loss prevention issues such as return fraud and workplace violence at its annual Loss Prevention Conference and EXPO at the Georgia World Congress Center, June 14-16 in Atlanta. Law enforcement officials and retailers are eligible for complimentary EXPO Hall passes. Visit NRF’s LP Conference website for more information. NRF offers complimentary registration to editorial staff members of the press, plus accredited retail analysts and bloggers. Click here to register online or call Kathy Grannis at (202) 626-8189.
About the Survey
The 2010 NRF Organized Retail Crime survey was conducted from April 20 – May 18, 2010. Senior loss prevention executives at 124 different companies completed the survey with the purpose of identifying the depth of organized retail crime throughout the entire industry. This year’s survey features responses from executives representing department/large box stores, discount, drug, grocery, restaurant and specialty retailers.
As the world's largest retail trade association and the voice of retail worldwide, the National Retail Federation's global membership includes retailers of all sizes, formats and channels of distribution as well as chain restaurants and industry partners from the U.S. and more than 45 countries abroad. In the U.S., NRF represents the breadth and diversity of an industry with more than 1.6 million American companies that employ nearly 25 million workers and generated 2009 sales of $2.3 trillion.
Click here to view complete survey or download PDF


National Retail Federation (NRF)

Kathy Grannis, 202-783-7971

eCert Selected To Provide Email Fraud Protection For U.S. Financial Services Sector

FS-ISAC and BITS Partner With eCert To Establish a New Email Security Capability for U.S. Financial Institutions

LATEST NEWS: 04/13/10, Wall Street Journal: Start Up Hopes to Stop Phishing With Certified Email

SAN FRANCISCO--(BUSINESS WIRE)--Email security leader eCert Inc. ( has been selected by financial industry consortiums, the Financial Services-Information Sharing and Analysis Center (FS-ISAC) and BITS, the technology policy division of The Financial Services Roundtable, to provide a key component of email security for the U.S. financial services sector. The new capability will help protect millions of consumers’ email against fraud or “phishing.”

“The FS-ISAC recognizes that email security is a critical component in protecting financial institutions and their communities from attacks and potential fraud. Our efforts with BITS and eCert to address the profound security threats related to email are another example of how we support our Members”
“Email fraud is a major ongoing threat to consumers and financial institutions. BITS has been engaged in efforts to advance email security for the industry by supporting the adoption of new protections that improve email protection for consumers. eCert’s approach is aligned with our industry’s goals, and the partnership represents a significant advance toward increasing the safety of email and improve the confidentiality and integrity of online services,” said Larry Seibel, SVP, Huntington Bancshares and Chairman of the BITS Security Steering Committee, which led the effort to create an email registry.
Through a new “Trusted Email Registry,” members of the Roundtable and its BITS/FSTC Financial Affiliates and FS-ISAC will have immediate access to valuable email traffic and fraud data to better manage email security, identify threats, and defend themselves and their customers against phishing attacks.
The partnership will make the eCert Email Domain eCertificationTM Service available to the Roundtable membership, which are 100 of the top financial institutions in the United States, and to financial institutions that are members of the FS-ISAC, protecting U.S. consumers from phishing attacks against financial services providers.
“The FS-ISAC recognizes that email security is a critical component in protecting financial institutions and their communities from attacks and potential fraud. Our efforts with BITS and eCert to address the profound security threats related to email are another example of how we support our Members,” said Bill Nelson, President & CEO, FS-ISAC.
“eCert has been working with major financial institutions and Internet Service Providers for several years to establish the right solution to protect email from fraud. Our goal is to restore safety and trust to email and improve online services. We are very proud to partner with FS-ISAC and BITS in their efforts to advance security for financial services and provide critical capabilities for their members,” said Kelly Wanser, CEO, eCert.
BITS is the technology policy division of The Financial Services Roundtable (, which represents 100 of the largest financial services companies in the U.S. BITS focuses on strategic issues where industry cooperation serves the public good, such as critical infrastructure protection, fraud prevention, and the safety of financial services.
eCert recently announced the launch of its Email Domain eCertificationTM Service and partnerships with Google, Yahoo! and leading financial institutions. eCert partners include Internet Service Providers, financial services operators, email security vendors and email infrastructure providers.
About eCert, Inc.
eCert provides critical protection against email fraud to financial institutions, major brands, critical data providers and government. eCert is rapidly expanding its network of ISP and security industry partners to ensure that large-scale, high-quality email senders, receivers and their customers have the best anti-phishing and traffic protection available for email. Founded in 2008 by executives from the email, security and financial services sectors, eCert, Inc. is a privately held company based in San Francisco, California. For more information visit:
About The FS-ISAC
The Financial Services Information-Sharing and Analysis Center (FS-ISAC) is a non-profit, member owned organization that is the only industry forum for collaboration on critical security threats facing the financial services sector. Launched in 1999, the FS-ISAC was established by the financial services sector in response to 1998’s Presidential Directive 63. The mission of the FS-ISAC in collaboration with the U.S. Department of the Treasury and the Financial Services Sector Coordinating Council (FSSCC) is to enhance the ability of the financial services sector to prepare for and respond to cyber and physical threats, vulnerabilities and incidents and to serve as the primary communications channel for the sector. More information about the FS-ISAC is available



for eCert, Inc.

Katy Lim



Larry Baird


MasterCard and NagraID Security Introduce New Display Cards with Extended Features for Secure Banking Applications

Now, word comes that Hackers have improved keylogging software by making it able to report your login credentials in "real time" via a Twitter-like stream of updates that makes it possible for malicious hackers to access your accounts even as you're using them. The efficiency of this new variant of keyloggers is best seen during routine operations like usage of Internet banking servicesSystems like RSA's SecurID create temporary numeric passwords that get changed each minute. The problem is, the attacker now gets the same password immediately.  

Read more:

http://www.nidsecurity.comNagraID Security developed a new family of MasterCard financial cards with integrated display screen allowing:
  • Optimized security for online transactions thanks to strong owner authentication

  • Display of the card balance on the card’s screen

LA CHAUX DE FONDS, Switzerland--(BUSINESS WIRE)--NagraID Security, a subsidiary of the Kudelski Group (SIX:KUD), is pleased to announce that its families of display cards passed MasterCard’s (CSI – Card Structure & Integrity) approval process, thus demonstrating the required levels of durability, safety and compliance to ISO standards required for the commercial launch of banking cards and the introduction into MasterCard’s brand standards and rules.
“This display card is designed to provide a very high level of security and reliability as well as ease of use. Users simply press a button to generate an OTP for secure access to their online services”
The innovative Debit and Credit MasterCard Display Card looks and feels like a normal credit or debit card but comes with an additional small display and a button that enables card holders to use the same card for standard banking payment functionality and to generate second-factor one-time passwords (OTPs), thereby providing strong authentication.
The cards are very reliable and extremely simple to use. They offer optimal security to achieve banking transactions outside payment terminals using one single device.
This password generation technology complies with the requirements of MasterCard’s 3D Secure Chip Authentication Program (CAP). Optionally, a touch-sensitive keypad with twelve keys permits access to advanced functionality such as electronic signature and authentication modes, as well as to enhanced security features such as challenge-response applications and PIN code card protection.
Historically, banking institutions who protected access to their services with a One-Time Password required the use of a separate cumbersome token.
“Cards were born from cardboard, they’ve been ‘mag striped’ and ‘chipped’ and now we enter their silicon age, with an LCD display and touchpad opening up a multitude of possibilities. With NagraID’s recent achievements to demonstrate compliance to industry standards, the stage has well and truly been set to deliver the next generation consumer’s card proposition,” says Eric Tomlinson, MasterCard Europe.
“This display card is designed to provide a very high level of security and reliability as well as ease of use. Users simply press a button to generate an OTP for secure access to their online services,” commented Philippe Guillaud, Executive Vice President and CTO of NagraID Security. He also added, “The programmable nature of this platform makes it future proof and one can expect to see even more exciting and fantastic functionality in the near future.”
“MasterCard directed promotional initiatives and large scale roll-outs will ensure that market price expectations are achieved. As the world evolves towards increasing online and cashless transactions, the timing of our partnership with MasterCard is ideal, as it enables the growing security expectations of a rapidly expanding base of digital technology users to be quickly addressed via a secure, reliable and unified solution in a familiar and convenient form-factor,” said Cyril Lalo, President and CEO of NagraID Security.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 22 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories.
For more information go to Follow us on Twitter : @mastercardnews.
About NagraID Security
NagraID Security SA, a subsidiary of the Kudelski Group, produces multi-component and other complex cards for the security and identification industry. NagraID Security’s Research and Development Team combine international experts having broad experience in security, cryptography, electronics, material sciences and manufacturing. NagraID Security provides advanced design, development, and industrialization capabilities for innovative authentication solutions.
NagraID Security holds international patents for a non-violent lamination process used for embedding sensitive, electronic components into card and other form-factors. NagraID Security operates under the strict security guidelines of NagraID SA, an EMV-certified card manufacturing and personalization facility. Please visit for more information.
About The Kudelski Group
The Kudelski Group (SIX: KUD.VX) is a world leader in digital security and convergent media solutions for the delivery of digital and interactive content. Its technologies are used in a wide range of services and applications requiring access control and rights management to secure the revenue of content owners and service providers for digital television and interactive applications across broadcast, broadband and mobile delivery networks. The Kudelski Group is also a world technology leader in the area of access control and management of people or vehicles to sites and events. It additionally offers professional recorders and high-end Hi-Fi products. The Kudelski Group is headquartered in Cheseaux-sur-Lausanne, Switzerland. Please visite for more information.

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Global Payments Announces Year-End Earnings on July 27, 2010

Image representing Global Payments as depicted...Image via CrunchBase
ATLANTAJune 10, 2010 /PRNewswire-FirstCall/ -- Global Payments Inc. (NYSE: GPN), a leader in payment processing services, will release year-end financial results for fiscal year 2010 after the market closes on July 27, 2010.

Global Payments' management will host a conference call for investors to discuss these results at 4:30 p.m. ET on Tuesday, July 27, 2010.  Callers may access the conference call via the company's Web site at by clicking the "Webcast" button; or callers in North America may dial 1-800-289-0544 and callers outside North America may dial 1-913-312-0710.  The pass code is "GPN."  A replay of the call may be accessed through Global Payments' Web site through August 17, 2010.
Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United StatesCanadaEurope, and the Asia-Pacific region. Global Payments, a Fortune 1000 company, offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. Visit for more information about the company and its services.

Jane M. Elliott

770-829-8234 Voice

770-829-8267 Fax

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