Item 8.01. Other Events

On May 18, 2012, Universal Business Payment Solutions Acquisition Corporation (the "Company") notified Ladenburg Thalmann & Co. Inc., the broker engaged to effectuate the Company's 10b5-1 repurchase plan (the "Plan") that was entered into on August 8, 2011, that the Plan had been terminated effective immediately. The Company terminated the Plan in connection with notification from NASDAQ that the existence of the plan was no longer permissible under applicable NASDAQ rules.