PYMNTS.com Interview with eBillme CEO, Marwan Forzley

Thursday 03.25.10

EXCLUSIVE INTERVIEW

Cash Payments Online? eBillme says yes!  Marwan Forzley, President and CEO of eBillme, is considered one of the top entrepreneurs in payments and responsible for the success of the industry's leading alternative payments. Marwan believes we will see a shift away from the use of credit and pay-later methods and consumers will go back to basics and buy with existing money. This allows eBillme's services to thrive as buyers look for a cardless, internet, debit transaction. Listen to this exclusive NEXTcast interview to get the scoop on what's next for eBillme. Listen here

PYMNTS.comWHAT'S NEXT IN PAYMENTS

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PYMNTS.com Interview with eBillme CEO, Marwan Forzley

Thursday 03.25.10

EXCLUSIVE INTERVIEW

Cash Payments Online? eBillme says yes!  Marwan Forzley, President and CEO of eBillme, is considered one of the top entrepreneurs in payments and responsible for the success of the industry's leading alternative payments. Marwan believes we will see a shift away from the use of credit and pay-later methods and consumers will go back to basics and buy with existing money. This allows eBillme's services to thrive as buyers look for a cardless, internet, debit transaction. Listen to this exclusive NEXTcast interview to get the scoop on what's next for eBillme. Listen here

PYMNTS.comWHAT'S NEXT IN PAYMENTS

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• New Customer and Revenue Opportunities Identified for US Banks (pindebit.blogspot.com)


• eBillme Expands Executive Team to Support Consumer and Bank Relationships (eon.businesswire.com)


• eBillme Presents: "How eCommerce Biz Can Use Social Media" (pindebit.blogspot.com)

Hypercom Appoints VP of Marketing for Mobile Payment Technology

March 25, 2010 09:28 AM Eastern Daylight Time  

Hypercom Appoints William Rossiter Vice President of Marketing

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Hypercom Corporation (NYSE: HYC) today announced the appointment of William Rossiter as Vice President of Marketing. Mr. Rossiter will be principally responsible for the deployment of the Company’s mobile payment technology. He reports to Philippe Tartavull, Chief Executive Officer and President.

“Will is a dynamic and experienced executive with a keen understanding of the mobile and wireless markets and what it takes to win business, build market share and strengthen our global footprint.”

“With this appointment we ramp up our capabilities and strengthen our competitive positioning in mobile payments,” said Mr. Tartavull. “Will is a dynamic and experienced executive with a keen understanding of the mobile and wireless markets and what it takes to win business, build market share and strengthen our global footprint.”

Mr. Rossiter brings to Hypercom nearly a decade of marketing, sales, business development expertise in electronic transactions, mobile payments and consumer electronics. He served for six years with Oberthur Card Systems in positions including Vice President, Wireless Sales & Marketing; Director, Wireless Business Development; National Accounts Manager, and Financial Analyst. He joins Hypercom from the brand strategy consulting firm Bassett & Partners. In his prior roles, he has worked with globally-respected high-tech companies such as Microsoft and Dell, and leading wireless carriers including AT&T, T-Mobile, Telcel and Telefonica. Mr. Rossiter holds a master’s in Business Administration from the Stanford Graduate School of Business, and a bachelor’s in English and Economics from Santa Clara University.

About Hypercom (www.hypercom.com)

Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products, software solutions and services. The Company's solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, petroleum, healthcare, prepaid, self-service and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits. Hypercom is a founding member of the Secure POS Vendor Alliance (SPVA) and is the second largest provider of electronic payment solutions and services in Western Europe and third largest provider globally.

Hypercom is a registered trademark of Hypercom Corporation. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.

This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the qualifications, expertise and expected performance of the Company’s new Vice President, Marketing; the Company’s expected future performance; market acceptance of new products, product capability and performance, product competitiveness, product sales, revenues and profits, market share, and expected acquisition results and benefits. These forward-looking statements are based on management’s current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward-looking statements include: industry, competitive and technological changes; the loss of, and failure to replace any significant customers; the composition, timing and size of orders from and shipments to major customers; inventory obsolescence; market acceptance of new products and services; compliance with industry standards, certifications and government regulations; the performance of suppliers, contract manufacturers and subcontractors; the ability to successfully integrate the technologies, operations and personnel of acquired businesses in a timely manner; the ability to obtain the expected strategic and financial benefits from acquisitions; risks associated with international operations and foreign currency fluctuations, the state of the U.S. and global economies in general and other risks detailed in our filings with the Securities and Exchange Commission, including the Company's most recent 10-K and subsequent 10-Qs and 8-Ks. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements. HYCP

Contacts

Hypercom Corporation

Pete Schuddekopf, 480-642-5383

pschuddekopf@hypercom.com

Permalink: http://www.businesswire.com/news/home/20100325005029/en/Hypercom-Appoints-William-Rossiter-Vice-President-Marketing

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Hypercom Appoints VP of Marketing for Mobile Payment Technology

March 25, 2010 09:28 AM Eastern Daylight Time  

Hypercom Appoints William Rossiter Vice President of Marketing

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Hypercom Corporation (NYSE: HYC) today announced the appointment of William Rossiter as Vice President of Marketing. Mr. Rossiter will be principally responsible for the deployment of the Company’s mobile payment technology. He reports to Philippe Tartavull, Chief Executive Officer and President.

“Will is a dynamic and experienced executive with a keen understanding of the mobile and wireless markets and what it takes to win business, build market share and strengthen our global footprint.”

“With this appointment we ramp up our capabilities and strengthen our competitive positioning in mobile payments,” said Mr. Tartavull. “Will is a dynamic and experienced executive with a keen understanding of the mobile and wireless markets and what it takes to win business, build market share and strengthen our global footprint.”

Mr. Rossiter brings to Hypercom nearly a decade of marketing, sales, business development expertise in electronic transactions, mobile payments and consumer electronics. He served for six years with Oberthur Card Systems in positions including Vice President, Wireless Sales & Marketing; Director, Wireless Business Development; National Accounts Manager, and Financial Analyst. He joins Hypercom from the brand strategy consulting firm Bassett & Partners. In his prior roles, he has worked with globally-respected high-tech companies such as Microsoft and Dell, and leading wireless carriers including AT&T, T-Mobile, Telcel and Telefonica. Mr. Rossiter holds a master’s in Business Administration from the Stanford Graduate School of Business, and a bachelor’s in English and Economics from Santa Clara University.

About Hypercom (www.hypercom.com)

Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products, software solutions and services. The Company's solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, petroleum, healthcare, prepaid, self-service and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits. Hypercom is a founding member of the Secure POS Vendor Alliance (SPVA) and is the second largest provider of electronic payment solutions and services in Western Europe and third largest provider globally.

Hypercom is a registered trademark of Hypercom Corporation. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.

This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the qualifications, expertise and expected performance of the Company’s new Vice President, Marketing; the Company’s expected future performance; market acceptance of new products, product capability and performance, product competitiveness, product sales, revenues and profits, market share, and expected acquisition results and benefits. These forward-looking statements are based on management’s current expectations and beliefs and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward-looking statements include: industry, competitive and technological changes; the loss of, and failure to replace any significant customers; the composition, timing and size of orders from and shipments to major customers; inventory obsolescence; market acceptance of new products and services; compliance with industry standards, certifications and government regulations; the performance of suppliers, contract manufacturers and subcontractors; the ability to successfully integrate the technologies, operations and personnel of acquired businesses in a timely manner; the ability to obtain the expected strategic and financial benefits from acquisitions; risks associated with international operations and foreign currency fluctuations, the state of the U.S. and global economies in general and other risks detailed in our filings with the Securities and Exchange Commission, including the Company's most recent 10-K and subsequent 10-Qs and 8-Ks. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements. HYCP

Contacts

Hypercom Corporation

Pete Schuddekopf, 480-642-5383

pschuddekopf@hypercom.com

Permalink: http://www.businesswire.com/news/home/20100325005029/en/Hypercom-Appoints-William-Rossiter-Vice-President-Marketing

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The Rise of Mafia-like Cyber Crime Syndicates

From: Help Net Security

So says Deputy Assistant FBI Director Steven Chabinsky, who assures us that law enforcement is taking the cyber threat very seriously. "The cyber threat can be an existential threat, meaning it can challenge our country's very existence, or significantly alter our nation's potential," Chabinsky said at the FOSE government IT show.



According to him, cyber crime actually pays so much that people that may have initially dabbed in it, are now quitting their day jobs and becoming "career criminals". This fact makes it possible for them to specialize in what they do best, and it is exactly that which makes them extremely efficient.



eSecurity Planet reports that the various sting operations that the FBI and other law enforcement agencies engage in to counter this threat have yielded enough information about the inner workings of these crime organizations to make possible the development of charts that illustrate the various roles that people in the organization assume: the coder, the "techie" (that keep the servers and ISPs online), the hacker (actively searches for vulnerabilities to exploit), the money mule, the fraudster (creates social engineering schemes), and others.  From eSecurity Planet:

FBI Underboss Says Cyber Criminals the New Mafia

WASHINGTON -- As cyber crime increasingly becomes the vocation of highly organized criminal syndicates, law enforcement authorities have been revamping their approach to address the growing sophistication of the threat.  Speaking here at the FOSE government IT show, Deputy Assistant FBI Director Steven Chabinsky said that high-tech crimes have become the bureau's top law-enforcement priority, reflecting the heightened concerns about cybersecurity across the senior ranks of the federal government.  "If we fail to act, the cyber threat can be an existential threat, meaning it can challenge our country's very existence, or significantly alter our nation's potential," Chabinsky said. "I am convinced that given enough time, motivation and funding, a determined adversary will always -- always -- be able to penetrate a targeted system."  Through a series of sting operations, the FBI has been probing the anatomy of cyber crime gangs, which Chabinsky said have taken on a Mafia-like structure that is a far cry from the early days of the lone-wolf hacker setting out to make a name for himself.

Help Net Security continues with their story:



"Professional" money mules are a rather new addition to the criminal enterprise. It used to be that the great majority of them were unsuspecting accomplices that got tricked into executing transfers under the impression they were doing a completely legal thing.



According to the FBI, alongside the "career" money mules, there are also "premier" mules, who usually come to the US on student or work visas and execute the instructions given to them by the gang and recruit other mules to do the same.







Continue Reading at Help Net Security

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The Rise of Mafia-like Cyber Crime Syndicates

From: Help Net Security

So says Deputy Assistant FBI Director Steven Chabinsky, who assures us that law enforcement is taking the cyber threat very seriously. "The cyber threat can be an existential threat, meaning it can challenge our country's very existence, or significantly alter our nation's potential," Chabinsky said at the FOSE government IT show.



According to him, cyber crime actually pays so much that people that may have initially dabbed in it, are now quitting their day jobs and becoming "career criminals". This fact makes it possible for them to specialize in what they do best, and it is exactly that which makes them extremely efficient.



eSecurity Planet reports that the various sting operations that the FBI and other law enforcement agencies engage in to counter this threat have yielded enough information about the inner workings of these crime organizations to make possible the development of charts that illustrate the various roles that people in the organization assume: the coder, the "techie" (that keep the servers and ISPs online), the hacker (actively searches for vulnerabilities to exploit), the money mule, the fraudster (creates social engineering schemes), and others.  From eSecurity Planet:

FBI Underboss Says Cyber Criminals the New Mafia

WASHINGTON -- As cyber crime increasingly becomes the vocation of highly organized criminal syndicates, law enforcement authorities have been revamping their approach to address the growing sophistication of the threat.  Speaking here at the FOSE government IT show, Deputy Assistant FBI Director Steven Chabinsky said that high-tech crimes have become the bureau's top law-enforcement priority, reflecting the heightened concerns about cybersecurity across the senior ranks of the federal government.  "If we fail to act, the cyber threat can be an existential threat, meaning it can challenge our country's very existence, or significantly alter our nation's potential," Chabinsky said. "I am convinced that given enough time, motivation and funding, a determined adversary will always -- always -- be able to penetrate a targeted system."  Through a series of sting operations, the FBI has been probing the anatomy of cyber crime gangs, which Chabinsky said have taken on a Mafia-like structure that is a far cry from the early days of the lone-wolf hacker setting out to make a name for himself.

Help Net Security continues with their story:



"Professional" money mules are a rather new addition to the criminal enterprise. It used to be that the great majority of them were unsuspecting accomplices that got tricked into executing transfers under the impression they were doing a completely legal thing.



According to the FBI, alongside the "career" money mules, there are also "premier" mules, who usually come to the US on student or work visas and execute the instructions given to them by the gang and recruit other mules to do the same.







Continue Reading at Help Net Security

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ClickandBuy Becomes Wholly-Owned Deutsche Telekom Subsidiary

LONDON, Mar 24, 2010 (MARKETWIRE via COMTEX) -- ClickandBuy / ClickandBuy becomes wholly-owned Deutsche Telekom subsidiary processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.

DTAG acquires internet payment service provider ClickandBuy

London/New York/Zug/Bonn, 24 March 2010. The internet payment service provider ClickandBuy is to become a wholly-owned subsidiary of Deutsche Telekom AG. Via its venture capital company, T-Venture, Deutsche Telekom has held shares in ClickandBuy since 2006 and currently owns 20.2 per cent of its shares. Deutsche Telekom has now acquired all remaining shares in the internet payment service provider ClickandBuy. The agreement was finalized yesterday. The supervisory bodies of the companies concerned and the UK's Financial Services Authority (FSA) have already approved the process.

Klaus Konrad, Investment Director of Intel Capital: "ClickandBuy has become one of the top three online payment providers in the world and is a European investment success story.This shows that even in challenging economic periods, it is possible to grow top performing organizations through great management and the right investment strategy."

ClickandBuy's CEO, Charles Fraenkl, welcomed the deal: "Our minority shareholders T-Venture and Intel Capital with their dedication and commitment have contributed a lot to the success and growth of ClickandBuy.With the support of our new shareholder, ClickandBuy, already one of today's leading providers of online payment solutions, will continue to strengthen and expand its market position in the future. ClickandBuy is in an exceptionally good position and is very happy about the huge advantages this synergy contains regarding the realisation of its global strategic goals which will be made possible through the involvement of Deutsche Telekom."

About ClickandBuy

ClickandBuy is one of the leading payment services in the internet.Certified by McAfee and tested by Germany's Technical Inspection and Testing Association (TUV), this online payment system is used for internet purchases by over 13 million people. Having doubled its turnover generated by traders and end customers to EUR 922 million (TTV) in 2008, the ClickandBuy Group first crossed the billion euro threshold in 2009.

Over 16.000 online traders use ClickandBuy's e-payment system for their e-commerce, retail, online entertainment, and paid content & services billing, including Deutsche Telekom, Scout24 Group, Apple iTunes, Napster, Orange, msn, AOL, Meetic, Parship, Electronic Arts (EA), Codemasters, McAfee, Panda, RTL, Playboy, Financial Times Deutschland, Foto.com, Deutsche Boerse Group, KPMG, Yamaha, Digital River, Redcoon, bonprix (Otto Group).

Founded in 1999, ClickandBuy represents over 10 years of experience and expertise in the e-payment market. The online payment system is operated by ClickandBuy International Ltd. in London. As an e-money institution licensed by the UK's Financial Services Authority (FSA), ClickandBuy's complete service includes 120 currencies and offers 50 national and international modes of payment throughout 31 countries.

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ClickandBuy Becomes Wholly-Owned Deutsche Telekom Subsidiary

LONDON, Mar 24, 2010 (MARKETWIRE via COMTEX) -- ClickandBuy / ClickandBuy becomes wholly-owned Deutsche Telekom subsidiary processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.

DTAG acquires internet payment service provider ClickandBuy

London/New York/Zug/Bonn, 24 March 2010. The internet payment service provider ClickandBuy is to become a wholly-owned subsidiary of Deutsche Telekom AG. Via its venture capital company, T-Venture, Deutsche Telekom has held shares in ClickandBuy since 2006 and currently owns 20.2 per cent of its shares. Deutsche Telekom has now acquired all remaining shares in the internet payment service provider ClickandBuy. The agreement was finalized yesterday. The supervisory bodies of the companies concerned and the UK's Financial Services Authority (FSA) have already approved the process.

Klaus Konrad, Investment Director of Intel Capital: "ClickandBuy has become one of the top three online payment providers in the world and is a European investment success story.This shows that even in challenging economic periods, it is possible to grow top performing organizations through great management and the right investment strategy."

ClickandBuy's CEO, Charles Fraenkl, welcomed the deal: "Our minority shareholders T-Venture and Intel Capital with their dedication and commitment have contributed a lot to the success and growth of ClickandBuy.With the support of our new shareholder, ClickandBuy, already one of today's leading providers of online payment solutions, will continue to strengthen and expand its market position in the future. ClickandBuy is in an exceptionally good position and is very happy about the huge advantages this synergy contains regarding the realisation of its global strategic goals which will be made possible through the involvement of Deutsche Telekom."

About ClickandBuy

ClickandBuy is one of the leading payment services in the internet.Certified by McAfee and tested by Germany's Technical Inspection and Testing Association (TUV), this online payment system is used for internet purchases by over 13 million people. Having doubled its turnover generated by traders and end customers to EUR 922 million (TTV) in 2008, the ClickandBuy Group first crossed the billion euro threshold in 2009.

Over 16.000 online traders use ClickandBuy's e-payment system for their e-commerce, retail, online entertainment, and paid content & services billing, including Deutsche Telekom, Scout24 Group, Apple iTunes, Napster, Orange, msn, AOL, Meetic, Parship, Electronic Arts (EA), Codemasters, McAfee, Panda, RTL, Playboy, Financial Times Deutschland, Foto.com, Deutsche Boerse Group, KPMG, Yamaha, Digital River, Redcoon, bonprix (Otto Group).

Founded in 1999, ClickandBuy represents over 10 years of experience and expertise in the e-payment market. The online payment system is operated by ClickandBuy International Ltd. in London. As an e-money institution licensed by the UK's Financial Services Authority (FSA), ClickandBuy's complete service includes 120 currencies and offers 50 national and international modes of payment throughout 31 countries.

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PayPal and FNB Bring Global E-Commerce to South Africa

March 25, 2010 05:15 AM Eastern Daylight Time  

FNB and PayPal Bring Global E-Commerce to South Africa

JOHANNESBURG--(BUSINESS WIRE)--First National Bank (FNB) and PayPal today announced that customers in South Africa can now sell to PayPal’s global customer base of more than 81 million active accounts in 190 markets around the world and move the proceeds to their FNB accounts. This new service allows customers to top up and withdraw funds to their qualifying FNB accounts from their PayPal accounts.

“With South Africa’s solid financial infrastructure and its status as the continent’s largest economy, we’re optimistic about the future of e-commerce in this market and look forward to working with FNB on the opportunities ahead.”

“We are especially pleased to make this announcement on the eve of the 2010 FIFA World Cup, as South Africans will be able to join the global e-commerce marketplace. Our agreement with PayPal also enables international businesses and individuals to transact with South African service providers via a secure and convenient payment service,” says Michael Jordaan, FNB’s chief executive officer.

“The exclusive top up and withdraw service with PayPal allows South Africans to make payments and receive money internationally without sharing their financial or personal information,” adds Jordaan.

FNB Customers can simply open a PayPal account and link it to a qualified FNB account and receive PayPal payments in 21 differentcurrencies. FNB will convert the currency to South African Rand when the money is transferred into their accounts.

“FNB and PayPal have a similar focus on innovation, so it makes sense that we would work with FNB to make online payments even easier for merchants and consumers in South Africa,” said Oded Zehavi, regional director of PayPal Israel and South Africa. “With South Africa’s solid financial infrastructure and its status as the continent’s largest economy, we’re optimistic about the future of e-commerce in this market and look forward to working with FNB on the opportunities ahead.”

“The launch of PayPal sees FNB take another step forward as South Africa’s most innovative financial institution. It responds directly to our ‘how can we help you?’ brand promise,” concludes Jordaan.

The PayPal service will be offered in partnership with FNB and has received approval from the Exchange Control Department of the South African Reserve Bank.

For more information, visit www.fnb.co.za or https://www.paypal.co.za.

About FNB

FNB is a division of First Rand Bank Limited - An Authorised Financial Services Provider.

First National Bank (FNB) is a division of FirstRand Bank Limited. FirstRand Bank Limited is listed on the South African Stock Exchange (FSR). In line with South African legislation, FNB is an Authorised Financial Services and Credit Provider (NCRCP20).

FNB is viewed as a leading innovator with over 6.6 million customers and 30 000 employees across South Africa and Africa. FNB has a strong African footprint with subsidiary operations in Botswana, Namibia, Zambia, Mozambique, Swaziland and Lesotho.

FNB is a National Supporter of the 2010 FIFA World Cup™. More information about the company can be found at www.fnb.co.za.

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts or credit cards. PayPal is an eBay company. With more than 81 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global e-commerce. The company's open payment platform, PayPal X, allows developers to build innovative payment applications on multiple platforms and devices. More information about the company can be found at www.paypal.com.

PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.

PayPal and FNB Bring Global E-Commerce to South Africa

March 25, 2010 05:15 AM Eastern Daylight Time  

FNB and PayPal Bring Global E-Commerce to South Africa

JOHANNESBURG--(BUSINESS WIRE)--First National Bank (FNB) and PayPal today announced that customers in South Africa can now sell to PayPal’s global customer base of more than 81 million active accounts in 190 markets around the world and move the proceeds to their FNB accounts. This new service allows customers to top up and withdraw funds to their qualifying FNB accounts from their PayPal accounts.

“With South Africa’s solid financial infrastructure and its status as the continent’s largest economy, we’re optimistic about the future of e-commerce in this market and look forward to working with FNB on the opportunities ahead.”

“We are especially pleased to make this announcement on the eve of the 2010 FIFA World Cup, as South Africans will be able to join the global e-commerce marketplace. Our agreement with PayPal also enables international businesses and individuals to transact with South African service providers via a secure and convenient payment service,” says Michael Jordaan, FNB’s chief executive officer.

“The exclusive top up and withdraw service with PayPal allows South Africans to make payments and receive money internationally without sharing their financial or personal information,” adds Jordaan.

FNB Customers can simply open a PayPal account and link it to a qualified FNB account and receive PayPal payments in 21 differentcurrencies. FNB will convert the currency to South African Rand when the money is transferred into their accounts.

“FNB and PayPal have a similar focus on innovation, so it makes sense that we would work with FNB to make online payments even easier for merchants and consumers in South Africa,” said Oded Zehavi, regional director of PayPal Israel and South Africa. “With South Africa’s solid financial infrastructure and its status as the continent’s largest economy, we’re optimistic about the future of e-commerce in this market and look forward to working with FNB on the opportunities ahead.”

“The launch of PayPal sees FNB take another step forward as South Africa’s most innovative financial institution. It responds directly to our ‘how can we help you?’ brand promise,” concludes Jordaan.

The PayPal service will be offered in partnership with FNB and has received approval from the Exchange Control Department of the South African Reserve Bank.

For more information, visit www.fnb.co.za or https://www.paypal.co.za.

About FNB

FNB is a division of First Rand Bank Limited - An Authorised Financial Services Provider.

First National Bank (FNB) is a division of FirstRand Bank Limited. FirstRand Bank Limited is listed on the South African Stock Exchange (FSR). In line with South African legislation, FNB is an Authorised Financial Services and Credit Provider (NCRCP20).

FNB is viewed as a leading innovator with over 6.6 million customers and 30 000 employees across South Africa and Africa. FNB has a strong African footprint with subsidiary operations in Botswana, Namibia, Zambia, Mozambique, Swaziland and Lesotho.

FNB is a National Supporter of the 2010 FIFA World Cup™. More information about the company can be found at www.fnb.co.za.

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts or credit cards. PayPal is an eBay company. With more than 81 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global e-commerce. The company's open payment platform, PayPal X, allows developers to build innovative payment applications on multiple platforms and devices. More information about the company can be found at www.paypal.com.

PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.

Open Solutions Endorses Fifth Third's EFT Payment Services

March 24, 2010 04:00 PM Eastern Daylight Time  

Open Solutions Endorses Fifth Third Processing Solutions’ EFT Payment Services

Expands strategic partnership relationship to deliver extensive electronic funds transfer capabilities

GLASTONBURY, Conn.--(BUSINESS WIRE)--Open Solutions Inc.^®, a leading provider of integrated data processing technologies for banks and credit unions throughout the United States, Canada and other international markets, announced its selection of Fifth Third Processing Solutions as a Preferred Partner for electronic funds transfer (EFT) services. Fifth Third Processing Solutions is one of the payments industry’s oldest and largest electronic processors, and Open Solutions will promote Fifth Third Processing Solutions’ services to its financial institution clients utilizing the company’s relational core processing platforms.

“Our mutual clients will benefit greatly from our shared resources.”

The relationship between Open Solutions and Fifth Third Processing Solutions affords numerous benefits to clients of both organizations. Financial institution clients may realize streamlined billing with a combined single invoice that includes both their core and EFT services. In addition, processing partners of both companies are able to take advantage of preferred pricing. The lower costs, coupled with streamlined billing activity, are designed to increase operational efficiencies for mutual customers.

“We value these preferred partner relationships and are pleased to expand our relationship with Open Solutions,” said Royal Cole, president, Financial Institution Services at Fifth Third Processing Solutions. “We are confident that our best-in-class processing will allow Open Solutions to deliver on their commitment to assist their clients and prospects with quality programs. We look forward to working with and providing services to their valued processing clients.”

Fifth Third Processing Solutions’ product suite includes ATM terminal driving and monitoring, ATM and debit card transaction authorization and processing, national and regional gateway services, comprehensive ancillary services including fraud detection, card production, Rewards! product and other consultative services. The company shares approximately 60 mutual clients running Open Solutions’ core processing platforms, DNA™ and TotalPlus^®.

“We’re confident in this agreement because Open Solutions and Fifth Third Processing Solutions share the same philosophy: design and deliver innovative technology and back it with superior customer service,” said David Mitchell, chief marketing officer at Open Solutions. “Our mutual clients will benefit greatly from our shared resources.”

About Open Solutions

Open Solutions Inc. offers a fully featured strategic information management product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, technology services, HSAs, payments and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.

Open Solutions Inc. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2010 Open Solutions Inc. All rights reserved.

About Fifth Third Processing Solutions

Fifth Third Processing Solutions, LLC delivers innovative payment transaction processing and acceptance solutions to create and support complex payment strategies for merchants, businesses, and financial institutions around the world. A pioneer in card payment acceptance in the early 1970s, Fifth Third Processing Solutions is headquartered in Cincinnati, Ohio and is a joint venture with Advent International and Fifth Third Bank, a subsidiary of Fifth Third Bancorp (FITB)

As a premier full service payment solutions provider, the Company provides servicing solutions and product engineering for financial institutions’ and retailers’ credit card, debit card, merchant and private label programs processing over 33.3 billion ATM and point of sale transactions and over $315.5 billion in debit and credit card sales volume annually. The Company supports over 180,000 merchant and financial institution locations and 11,000 ATMs in 44 states and 11 countries. According to the Nilson Report (March 2009), the Company is the fourth largest U.S. merchant purchase transaction acquirer. Learn more at www.FTPSLLC.com.

Editor’s Note: The correct usage of the company name, Open Solutions Inc., is either referring to it as Open Solutions Inc. or Open Solutions. Open Solutions no longer uses the acronym of OSI to refer to the company.

Contacts

Open Solutions Inc.

Deborah Katz, 860-815-5385

VP, Corporate Marketing

deb.katz@opensolutions.com

www.opensolutions.com

or

Fifth Third Processing Solutions

Lynn M. Rhoads, 513-534-7742

Lynn.Rhoads@53.com

www.ftpsllc.com

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