Thursday, May 20, 2010

Visa Inc. Announces Decision to Fund Litigation Escrow Account

-- Visa Inc. (NYSE: V) today announced that the Company had decided to deposit $500 million (the "Loss Funds") into the litigation escrow account previously established under the Company's retrospective responsibility plan (the "Plan"). Under the terms of the Plan, when the Company funds the litigation escrow, its U.S. financial institutions and their affiliates and successors, the sole holders of Class B shares, bear a corresponding financial impact via a reduction in their as-converted share count. As a result, the deposit of Loss Funds has the effect of a repurchase by the Company of $500 million of Class A common stock on an as-converted basis. The deposit of the Loss Funds will be conducted in accordance with the Company's certificate of incorporation currently in effect.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

About Visa: Visa operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit www.corporate.visa.com.

Contacts:
Jack Carsky or Victoria Hyde-Dunn, Investor Relations
Visa Inc.
Tel: +1 415 932 2213
E-mail: ir@visa.com


Will Valentine, Media Relations
Visa Inc.
Tel: +1 415 932 2564
E-mail: globalmedia@visa.com

Visa Inc. Announces Decision to Fund Litigation Escrow Account

SAN FRANCISCO, May 20 /PRNewswire-FirstCall/ -- Visa Inc. (NYSE: V) today announced that the Company had decided to deposit $500 million (the "Loss Funds") into the litigation escrow account previously established under the Company's retrospective responsibility plan (the "Plan"). Under the terms of the Plan, when the Company funds the litigation escrow, its U.S. financial institutions and their affiliates and successors, the sole holders of Class B shares, bear a corresponding financial impact via a reduction in their as-converted share count. As a result, the deposit of Loss Funds has the effect of a repurchase by the Company of $500 million of Class A common stock on an as-converted basis. The deposit of the Loss Funds will be conducted in accordance with the Company's certificate of incorporation currently in effect.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

Contacts:
Jack Carsky or Victoria Hyde-Dunn, Investor Relations
Visa Inc.
Tel: +1 415 932 2213
E-mail: ir@visa.com


Will Valentine, Media Relations
Visa Inc.
Tel: +1 415 932 2564
E-mail: globalmedia@visa.com

eCommLink Joins PCI Security Standards Council

LAS VEGAS, May 20 /PRNewswire/ -- eCommLink, a leading value-added prepaid debit card processor, has announced its status as a participating organization with the PCI Security Standards Council. The affiliation unites the company with the other industry leaders and holds eCommLink to criterion beyond the basic PCI requirements.

"Security and compliance within our organization and our domestic and international clients is our highest priority," states eCommLink CEO, Ennio Ponzetto. "This is evidenced by our increased investment in these areas. Our dedicated compliance officer ensures our adherence to industry policies, procedures and practices, and we recently hired a senior information security engineer to enforce our data security standards at an even higher level."

Victor Newsom, Chief Operations Officer and Executive Vice President of Business Development concurs. "eCommLink is committed to providing the most secure prepaid processing environment for our clients and their cardholders. Membership and participation in this internationally recognized organization impels us to maintain the highest standards and follow industry best practices to ensure customer security and satisfaction."

The company has been independently audited for compliance with the Payment Card Industry Data Security Standard (PCI DSS) and holds Level 1.2 certification.

About eCommLink, Inc.

eCommLink, Inc. (www.ecommlink.com) enables program managers and financial institutions to maximize revenue from their prepaid debit programs. The Company's flexible prepaid processing platform, innovative features and industry experience allows clients to create customized prepaid programs for their specific markets while ensuring quality, security and time to market. eCommLink supports the full array of prepaid debit programs, including general spend, payroll, teen, gift, travel, government and loyalty cards.

About the PCI Security Standards Council

The PCI Security Standards Council provides a variety of tools, questionnaires, guidance, FAQs, training resources and other materials and information to assist organizations seeking to achieve compliance with its standards. The PCI DSS is a multifaceted security standard that includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures. This comprehensive standard is intended to help organizations proactively protect customer account data.

SOURCE eCommLink, Inc.

eCommLink Joins PCI Security Standards Council

The company has been independently audited for compliance with the Payment Card Industry Data Security Standard (PCI DSS) and holds Level 1.2 certification.

About eCommLink, Inc.

About the PCI Security Standards Council

SOURCE eCommLink, Inc.

FIS Wins IBM Beacon Award for Outstanding Enterprise Application Solution

IBM Beacon Award Recognizes IBM Business Partners for Outstanding Achievements in Business and Technology Excellence

JACKSONVILLE, Fla.--(BUSINESS WIRE)--FIS^™ (NYSE: FIS), one of the world’s largest providers of banking and payments technology, today announced that it was named winner of the award for “Outstanding Enterprise Application Solution by an ISV” in the annual IBM Beacon Awards competition. This prestigious honor is awarded each year to a select number of IBM Business Partners and recognizes technical excellence and innovative solutions based on IBM products and services.

“Outstanding Enterprise Application Solution by an ISV”

The Beacon Awards are an important component in IBM's PartnerWorld program highlighting the essential role that IBM Business Partners play in driving innovation for clients and making a difference in today's highly competitive marketplace. Teaming with IBM, these Beacon Award winners have set the standard for technical capabilities, vision, ingenuity in solving problems and client satisfaction.

FIS was selected for the award based on its core Profile conversion for Government Savings Bank (GSB) in Thailand, the country’s fourth largest bank. The conversion was completed within a 16 month timeframe, and included the entire branch and back office technical infrastructure of the bank and 20 million deposit and loan accounts. Two weeks after going live with Profile in a full production environment, GSB introduced new savings products that resulted in significant market share gains and achieved 107 percent of its product launch goal in the first 30 days. In addition, the cost efficiencies and currency float attained on the new savings products alone more than paid for the FIS Profile system, a return on investment in less than 12 months.

FIS teamed with IBM Global Services for the IBM System p and AIX implementation to help plan, implement and manage the dynamic FIS Profile infrastructure environment for GSB. FIS Profile is a transformational core banking platform targeted to top-tier financial institutions, including leading global retail and direct banks. GSB selected Profile as their solution to dramatically increase their efficiency, support new products and eliminate service outages.

“We are very proud to have won a Beacon award this year,” said Frank Sanchez, corporate executive vice president, FIS Strategic Solutions. “FIS goes to great lengths to deliver market-leading technology that demonstrates the highest level of product innovation, industry expertise and client service for organizations throughout the world. This award validates our continued commitment to providing reference solutions that support our clients’ strategic objectives and generate tangible results.”

The IBM Beacon Awards provide a wide range of industry recognition, increased visibility and promotional opportunities to award winners and finalists. Hundreds of nominations were judged by a team of leading industry journalists, analysts and IBM executives, who selected winners and finalists in 9 overall categories encompassing 21 awards covering hardware, software, and service solutions, Midmarket, ISV and technical awards as well as a focus on Smarter Planet. Among the categories were three new additions for 2010: New Intelligence, Smart Work and Smarter Planet.

“Our Beacon Award winners represent the tremendous power of the IBM Business Partner ecosystem in creating unique client value through our combined capabilities, expertise and offerings," said Rich Hume, general manager, IBM Business Partner Organization. "By winning the Outstanding Enterprise Application Solution by an ISV Category award, FIS has demonstrated its ability to deliver innovation to the market and help clients achieve higher value and better business outcomes."

For more information about the IBM Beacon Awards, including descriptions of the winning entries and details about the finalists, please visithttp://www.ibm.com/partnerworld/page/2010_beacon.html

To learn more about IBM PartnerWorld, a comprehensive program that offers marketing and sales resources, training, certification and technical support to help create new revenue and market opportunities for IBM Business Partners, visit http://www.ibm.com/partnerworld.

About FIS

FIS delivers banking and payments technologies to more than 14,000 financial institutions and businesses in over 100 countries worldwide. FIS provides financial institution core processing, and card issuer and transaction processing services, including the NYCE Network. FIS maintains processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10. FIS is a member of Standard and Poor's (S&P) 500® Index and consistently holds a leading ranking in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 on a global basis. FIS is listed on the New York Stock Exchange under the “FIS” ticker symbol. For more information about FIS see www.fisglobal.com.

Forward-Looking Statement

This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.

Contacts

FIS

Global Marketing and Communications

Marcia Danzeisen, Senior Vice President, 904-854-5083

marcia.danzeisen@fisglobal.com

or

FIS

Investor Relations

Mary Waggoner, Senior Vice President, 904-854-3282

mary.waggoner@fisglobal.com

Permalink: http://www.businesswire.com/news/home/20100519005153/en/FIS-Wins-IBM-Beacon-Award-Outstanding-Enterprise

FIS Wins IBM Beacon Award for Outstanding Enterprise Application Solution

IBM Beacon Award Recognizes IBM Business Partners for Outstanding Achievements in Business and Technology Excellence

“Outstanding Enterprise Application Solution by an ISV”

For more information about the IBM Beacon Awards, including descriptions of the winning entries and details about the finalists, please visithttp://www.ibm.com/partnerworld/page/2010_beacon.html

About FIS

Forward-Looking Statement

Contacts

Permalink: http://www.businesswire.com/news/home/20100519005153/en/FIS-Wins-IBM-Beacon-Award-Outstanding-Enterprise

Symantec To Buy VeriSign's Authentication Business For $1.28 Billion

Image representing Symantec as depicted in Cru...

Image via CrunchBase

VeriSign will refocus business on Internet infrastructure, naming services

May 19, 2010 | 05:36 PM

By Tim Wilson

DarkReading

VeriSign, one of the best-known names in computer security, today took a step away from the security business by selling its authentication services business to Symantec for $1.28 billion.

VeriSign's authentication business, which includes the Secure Sockets Layer (SSL) encryption certification services, a managed Public Key Infrastructure (PKI) platform, and the company's ownership stake in VeriSign Japan, contributed approximately $101.9 million to VeriSign's revenues last quarter -- about 39 percent of the company's business.

Symantec's acquisition follows the $300 million purchase of encryption pioneer PGP and the $70 million purchase of GuardianEdge, which were announced simultaneously just three weeks ago.

Continue DarkReading

Symantec To Buy VeriSign's Authentication Business For $1.28 Billion

Image via CrunchBase

VeriSign will refocus business on Internet infrastructure, naming services

May 19, 2010 | 05:36 PM

Radiant Systems Continues the Development of Payment Security Tools for the Restaurant and Retail Industries

Radiant Payment Guard suite to help operators better safeguard cardholder data

ATLANTA--(BUSINESS WIRE)--Radiant Systems, Inc. (Nasdaq: RADS) today announced that it will be offering a new suite of payment security products, known as Radiant Payment Guard, that currently includes Payment Guard MSR, Token Replacement and CPGateway. These payment protection tools help businesses in the restaurant and retail industries better protect their sites and consumers by reducing data security-related risks.

“Throughout our 25-year history, Radiant has always been focused on providing leading data security protection for our customers”

“Criminals are targeting restaurant and retail businesses at an alarming rate,” said Andy Heyman, chief operating officer at Radiant Systems. “Radiant is providing a variety of hardware and software products, such as the Radiant Payment Guard suite, to help our customers maintain consumer trust and reach the highest levels of data security.”

The Radiant Payment Guard suite of products currently includes Payment Guard MSR, Token Replacement and CPGateway. Payment Guard MSR is an encrypted magnetic stripe reader that is installed within Radiant point-of-sale (POS) hardware terminals, which are deployed within both the restaurant and retail industries. Payment Guard MSR enables data security protection on a physical level with encryption of sensitive consumer data built into Radiant’s hardware products. By the end of 2010, Radiant will be shipping all POS terminals with Payment Guard MSR, with most terminals shipping with this security feature as of July 1. The company began shipping Payment Guard MSR-equipped hardware in 2009 with the launch of the P1515, P1560 and P1760 POS terminals.

Radiant Payment Guard also includes Token Replacement, which is a payment security feature of the Aloha point of sale that has been in use by restaurant operators since early 2009. With Token Replacement, a unique identifier, or token, is allocated to cardholder data at the RBS WorldPay and Radiant Payment Services (RPS) host to prevent personal information from being stored on the point of sale. This ensures restaurant operators that payment processing occurs in a tightly-secure environment.

In addition, Radiant’s CPGateway service is part of the Radiant Payment Guard product set and works with Radiant’s specialty retail product CounterPoint. Unlike other retail point-of-sale systems, CPGateway encrypts cardholder data from the store to the hosting center, rather than decrypting data at the store-level.

“Throughout our 25-year history, Radiant has always been focused on providing leading data security protection for our customers,” said John Heyman, chief executive officer at Radiant Systems. “The new offering of the Radiant Payment Guard suite of products is another example of our effort to continue developing products, technologies and processes to ensure that our customers are able to comply with today’s standards, as well as protect against tomorrow’s hackers.”

About Radiant Systems, Inc.

Headquartered in Atlanta, Radiant Systems, Inc. (Nasdaq: RADS) is a global provider of innovative technology to the hospitality and retail industries. For more than two decades, Radiant's point of sale hardware and software solutions have helped to redefine the consumer experience in more than 100,000 restaurants, retail stores, stadiums, parks, arenas, cinemas, convenience stores, fuel centers and other customer-service venues. Radiant has offices in North America, Europe, Asia and Australia. For more information about Radiant Systems:

Visit our Website

Read about us on our Blog

Become a fan on Facebook

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are the Company’s reliance on a small number of clients for a large portion of its revenues, fluctuations in its quarterly results, its ability to continue and manage its growth, liquidity and other capital resources issues, competition and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.

Contacts

Radiant Systems, Inc.

Media Contact:

Mary Catherine Brutz, 770-576-6753

marycatherine.brutz@radiantsystems.com

Permalink: http://www.businesswire.com/news/home/20100520006056/en/Radiant-Systems-Continues-Development-Payment-Security-Tools

Thursday, May 20, 2010

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