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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of Report (Date of earliest event reported):&nbsp;&nbsp;&nbsp;<B><U>August
9, 2012</U></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>Universal Business Payment Solutions
Acquisition Corporation</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;(Exact Name of Registrant as Specified
in Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center; width: 30%">Delaware</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center; width: 30%">001-35170</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.1in; padding-left: 0.1in; font-weight: bold; text-align: center; width: 30%">90-0632274</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">(State or Other Jurisdiction of<BR> Incorporation or Organization)</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">(Commission<BR> File Number)</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">(I.R.S. Employer<BR> Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%; border-bottom: black 1pt solid; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Radnor Financial Center</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>150 North Radnor-Chester Road, Suite
        F-200</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Radnor, PA</B></P></TD>
    <TD STYLE="width: 5%; padding-right: 0.1in; padding-left: 0.1in">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: black 1pt solid; padding-right: 0.1in; padding-left: 0.1in">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>19087</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in">&nbsp;</TD>
    <TD STYLE="padding-right: 0.1in; padding-left: 0.1in; text-align: center">(Zip Code)</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>(610) 977-2482</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Not Applicable</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name of Former Address if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17CFR 240.14a-12)</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 1.01.</B></TD><TD><B>Entry into a Material Definitive Agreement</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On July 6, 2012, Universal Business Payment Solutions Acquisition
Corporation, a Delaware corporation (&ldquo;<U>UBPS</U>&rdquo;), entered the following three definitive agreements:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(1)&#9;the Agreement and Plan of Merger,
by and among UBPS, JP Merger Sub, LLC, a Delaware limited liability company and a wholly-owned subsidiary of UBPS, JetPay, LLC,
a Texas limited liability company (&ldquo;<U>JetPay</U>&rdquo;), and WLES, L.P., a Texas limited partnership and Trent Voigt (the
&ldquo;<U>JetPay Agreement</U>&rdquo;), in connection with the acquisition of JetPay and certain affiliated entities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(2) the Agreement and Plan of Merger, by
and among UBPS, Enzo Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of UBPS, Francis David Corporation, an Ohio Corporation (&ldquo;<U>EMS</U>&rdquo;), the stockholders of EMS and James Weiland,
as Representative (the &ldquo;<U>EMS Agreement</U>&rdquo;), in connection with the acquisition of EMS and certain affiliated entities;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(3) Agreement and Plan of Merger, by and
among UBPS, ADC Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of UBPS, AD Computer Corporation, a Pennsylvania
corporation (&ldquo;<U>ADC</U>&rdquo;), Payroll Tax Filing Services, Inc., Carol and C. Nicholas Antich as Joint Tenants, C. Nicholas
Antich, Carol Antich, Eric Antich, Lynn McCausland, the B N McCausland Trust, Joel E. Serfass and C. Nicholas Antich, as Representative
(the &ldquo;<U>ADC Agreement</U>&rdquo; and collectively with the JetPay Agreement and the EMS Agreement, the &ldquo;<U>Acquisition
Agreements</U>&rdquo;), in connection with the acquisition of ADC and certain related entities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A current report of Form 8-K describing the Acquisition Agreements
was filed by UBPS on July 9, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On August 9, 2012, UBPS entered into an amendment to each of
the Acquisition Agreements (collectively, the &ldquo;<U>Amendments</U>&rdquo;), pursuant to which the relevant parties amended
certain provisions of each Acquisition Agreement, including: (i) the definition of the &ldquo;Cap&rdquo; to clarify the intention
of the parties, and (ii) the assignment provision to allow UBPS or JetPay, EMS or ADC, as the applicable surviving entity, to assign
their respective rights under the Acquisition Agreements to any lenders as collateral security. Additionally, the amendment to
the EMS Agreement clarifies the intention of EMS and UBPS to adjust for cash as part of the purchase price adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The description of the Amendments is qualified in its entirety
by reference to the full text of each of the Amendments, which are attached hereto as Exhibits 2.1, 2.2 and 2.3, respectively,
and incorporated by reference herein. You are urged to read each Amendment in its entirety.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>In addition to historical information, this Current Report
on Form 8-K may contain a number of &ldquo;forward-looking statements&rdquo; as defined in the Private Securities Litigation Reform
Act of 1995. Words such as anticipate, expect, project, intend, plan, believe, and words and terms of similar substance used in
connection with any discussion of future plans, actions, or events identify forward-looking statements. Forward-looking statements
relating to the proposed transaction include, but are not limited to: statements about the benefits of the proposed transactions
involving UBPS and JetPay, EMS, and ADC, including future financial and operating results; UBPS&rsquo;s and JetPay&rsquo;s, EMS&rsquo;s,
and ADC&rsquo;s plans, objectives, expectations and intentions; the expected timing of completion of the transaction; and other
statements relating to the transaction that are not historical facts. Forward-looking statements involve estimates, expectations
and projections and, as a result, are subject to risks and uncertainties. There can be no assurance that actual results will not
materially differ from expectations. Important factors could cause actual results to differ materially from those indicated by
such forward-looking statements. With respect to the proposed transactions, these factors include, but are not limited to: approval
of the transactions by the UBPS stockholders; the satisfaction of the closing conditions to the transactions; the risk that a Shareholder
Redemption occurs; the length of time necessary to consummate the proposed transaction; changing legislation and regulatory environments;
changing interpretations of generally accepted accounting principles; continued compliance with government regulations; the risk
that a condition to closing of the transaction may not be realized or may take longer to realize than expected; disruption from
the transaction making it more difficult to maintain relationships with customers, employees or suppliers; a reduction in industry
profit margin; the inability to continue the development of the JetPay, EMS and ADC brands; the ability to meet the NASDAQ Stock
Market listing standards, including having the requisite number of round lot holders or shareholders; a lower return on investment;
the inability to manage rapid growth; requirements or changes affecting the business in which JetPay, EMS and ADC are engaged;
general economic conditions; and the diversion of management time on transaction-related issues. These risks, as well as other
risks associated with the transaction, will be more fully discussed in the preliminary proxy statement that will be filed with
the SEC in connection with the transaction. Additional risks and uncertainties are identified and discussed in UBPS&rsquo;s reports
filed with the SEC and available at the SEC&rsquo;s website at www.sec.gov. Forward-looking statements included in this Current
Report on Form 8-K speak only as of the date of this Current Report on Form 8-K. Neither UBPS nor JetPay, EMS, or ADC undertakes
any obligation to update its forward-looking statements to reflect events or circumstances after the date of this Current Report
on Form 8-K.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Additional Information and Where to Find It</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the Acquisition Agreements, UBPS will file
a proxy statement and other relevant documents concerning the Merger with the Securities and Exchange Commission (&ldquo;SEC&rdquo;).
The definitive proxy statement will be mailed to stockholders of UBPS.&nbsp;Investors and stockholders of UBPS are urged to read
the definitive proxy statement and other relevant documents when they become available because they will contain important information
about the transactions.&nbsp;Copies of these documents (when they become available) may be obtained free of charge by making a
request to UBPS in writing to UBPS, 150 North Radnor-Chester Road, Suite F-200, Radnor, PA 19087. In addition, documents filed
with the SEC by UBPS may be obtained free of charge at the SEC&rsquo;s website at www.sec.gov or by clicking on &ldquo;SEC Filings&rdquo;
or on UBPS&rsquo;s website at www.ubpsac.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Information Regarding Participants </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">UBPS and its directors, executive officers and certain employees
may be deemed to be participants in the solicitation of proxies from UBPS&rsquo;s stockholders in respect of the transactions.
Information concerning the ownership of UBPS&rsquo;s securities by UBPS&rsquo;s directors and executive officers is&nbsp;included
in their SEC filings on Forms 3, 4 and 5. Information regarding UBPS&rsquo;s directors, executive officers and other persons who
may, under rules of the SEC, be considered participants in the solicitation of proxies in connection with the transaction, including
their respective interests in the transaction by security holdings or otherwise, will be set forth in the definitive proxy statement
concerning the transaction when it is filed with the SEC. Each of these documents is, or will be, available as described above</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><B>Item 9.01.</B></TD><TD><B>Financial Statements and Exhibits</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%; font-weight: bold; text-decoration: underline; padding-right: 0pt; padding-left: 0pt">Exhibit<BR>
Number</TD>
    <TD STYLE="width: 5%; padding-right: 0pt; padding-left: 0pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 82%; padding-right: 0pt; font-weight: bold; text-decoration: underline; padding-left: 0pt; text-align: left; vertical-align: bottom">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; font-weight: bold">2.1</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Amendment to Agreement and Plan of Merger, dated as of August
        9, 2012, by and among UBPS and JetPay.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; font-weight: bold">2.2</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Amendment to Agreement and Plan of Merger, dated as of August
        9, 2012, by and among UBPS and EMS.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 0pt; padding-left: 0pt; font-weight: bold">2.3</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0pt; padding-left: 0pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Amendment to Agreement and Plan of Merger, dated as of August
        9, 2012, by and among UBPS, ADC and Payroll Tax Filing Services, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: August 10, 2012</P>

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    <TD COLSPAN="2">UNIVERSAL BUSINESS PAYMENT SOLUTIONS ACQUISITION CORPORATION</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
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    <TD STYLE="width: 38%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 5%">By:&nbsp;</TD>
    <TD STYLE="width: 57%; vertical-align: top">/s/ Bipin C. Shah<U> </U></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid">Name: Bipin C. Shah<BR> Title: Chief Executive Officer</TD></TR>
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{"company-data": {"conformed-name": "Universal Business Payment Solutions Acquisition Corp", "cik": "0001507986", "assigned-sic": "6770", "irs-number": "900632274", "state-of-incorporation": "DE", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-35170", "film-number": "121023392"}, "business-address": {"street1": "150 NORTH RADNOR-CHESTER ROAD", "street2": "SUITE F-200", "city": "RADNOR", "state": "PA", "zip": "19087", "phone": "6109772482"}, "mail-address": {"street1": "150 NORTH RADNOR-CHESTER ROAD", "street2": "SUITE F-200", "city": "RADNOR", "state": "PA", "zip": "19087"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August
9, 2012
Universal Business Payment Solutions
Acquisition Corporation
(Exact Name of Registrant as Specified
in Charter)
Delaware
001-35170
90-0632274
(State or Other Jurisdiction of
Incorporation or Organization)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
Radnor Financial Center
150 North Radnor-Chester Road, Suite
        F-200
Radnor, PA
19087
(Address of Principal Executive Offices)
(Zip Code)
(610) 977-2482
(Registrant's telephone number, including
area code)
Not Applicable
(Former Name of Former Address if Changed
Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
x
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.
Entry into a Material Definitive Agreement
On July 6, 2012, Universal Business Payment Solutions Acquisition
Corporation, a Delaware corporation ("
UBPS
"), entered the following three definitive agreements:
(1)	the Agreement and Plan of Merger,
by and among UBPS, JP Merger Sub, LLC, a Delaware limited liability company and a wholly-owned subsidiary of UBPS, JetPay, LLC,
a Texas limited liability company ("
JetPay
"), and WLES, L.P., a Texas limited partnership and Trent Voigt (the
"
JetPay Agreement
"), in connection with the acquisition of JetPay and certain affiliated entities;
(2) the Agreement and Plan of Merger, by
and among UBPS, Enzo Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of UBPS, Francis David Corporation, an Ohio Corporation ("
EMS
"), the stockholders of EMS and James Weiland,
as Representative (the "
EMS Agreement
"), in connection with the acquisition of EMS and certain affiliated entities;
and
(3) Agreement and Plan of Merger, by and
among UBPS, ADC Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of UBPS, AD Computer Corporation, a Pennsylvania
corporation ("
ADC
"), Payroll Tax Filing Services, Inc., Carol and C. Nicholas Antich as Joint Tenants, C. Nicholas
Antich, Carol Antich, Eric Antich, Lynn McCausland, the B N McCausland Trust, Joel E. Serfass and C. Nicholas Antich, as Representative
(the "
ADC Agreement
" and collectively with the JetPay Agreement and the EMS Agreement, the "
Acquisition
Agreements
"), in connection with the acquisition of ADC and certain related entities.
A current report of Form 8-K describing the Acquisition Agreements
was filed by UBPS on July 9, 2012.
On August 9, 2012, UBPS entered into an amendment to each of
the Acquisition Agreements (collectively, the "
Amendments
"), pursuant to which the relevant parties amended
certain provisions of each Acquisition Agreement, including: (i) the definition of the "Cap" to clarify the intention
of the parties, and (ii) the assignment provision to allow UBPS or JetPay, EMS or ADC, as the applicable surviving entity, to assign
their respective rights under the Acquisition Agreements to any lenders as collateral security. Additionally, the amendment to
the EMS Agreement clarifies the intention of EMS and UBPS to adjust for cash as part of the purchase price adjustment.
The description of the Amendments is qualified in its entirety
by reference to the full text of each of the Amendments, which are attached hereto as Exhibits 2.1, 2.2 and 2.3, respectively,
and incorporated by reference herein. You are urged to read each Amendment in its entirety.
Forward-Looking Statements
In addition to historical information, this Current Report
on Form 8-K may contain a number of "forward-looking statements" as defined in the Private Securities Litigation Reform
Act of 1995. Words such as anticipate, expect, project, intend, plan, believe, and words and terms of similar substance used in
connection with any discussion of future plans, actions, or events identify forward-looking statements. Forward-looking statements
relating to the proposed transaction include, but are not limited to: statements about the benefits of the proposed transactions
involving UBPS and JetPay, EMS, and ADC, including future financial and operating results; UBPS's and JetPay's, EMS's,
and ADC's plans, objectives, expectations and intentions; the expected timing of completion of the transaction; and other
statements relating to the transaction that are not historical facts. Forward-looking statements involve estimates, expectations
and projections and, as a result, are subject to risks and uncertainties. There can be no assurance that actual results will not
materially differ from expectations. Important factors could cause actual results to differ materially from those indicated by
such forward-looking statements. With respect to the proposed transactions, these factors include, but are not limited to: approval
of the transactions by the UBPS stockholders; the satisfaction of the closing conditions to the transactions; the risk that a Shareholder
Redemption occurs; the length of time necessary to consummate the proposed transaction; changing legislation and regulatory environments;
changing interpretations of generally accepted accounting principles; continued compliance with government regulations; the risk
that a condition to closing of the transaction may not be realized or may take longer to realize than expected; disruption from
the transaction making it more difficult to maintain relationships with customers, employees or suppliers; a reduction in industry
profit margin; the inability to continue the development of the JetPay, EMS and ADC brands; the ability to meet the NASDAQ Stock
Market listing standards, including having the requisite number of round lot holders or shareholders; a lower return on investment;
the inability to manage rapid growth; requirements or changes affecting the business in which JetPay, EMS and ADC are engaged;
general economic conditions; and the diversion of management time on transaction-related issues. These risks, as well as other
risks associated with the transaction, will be more fully discussed in the preliminary proxy statement that will be filed with
the SEC in connection with the transaction. Additional risks and uncertainties are identified and discussed in UBPS's reports
filed with the SEC and available at the SEC's website at www.sec.gov. Forward-looking statements included in this Current
Report on Form 8-K speak only as of the date of this Current Report on Form 8-K. Neither UBPS nor JetPay, EMS, or ADC undertakes
any obligation to update its forward-looking statements to reflect events or circumstances after the date of this Current Report
on Form 8-K.
Additional Information and Where to Find It
In connection with the Acquisition Agreements, UBPS will file
a proxy statement and other relevant documents concerning the Merger with the Securities and Exchange Commission ("SEC").
The definitive proxy statement will be mailed to stockholders of UBPS. Investors and stockholders of UBPS are urged to read
the definitive proxy statement and other relevant documents when they become available because they will contain important information
about the transactions. Copies of these documents (when they become available) may be obtained free of charge by making a
request to UBPS in writing to UBPS, 150 North Radnor-Chester Road, Suite F-200, Radnor, PA 19087. In addition, documents filed
with the SEC by UBPS may be obtained free of charge at the SEC's website at www.sec.gov or by clicking on "SEC Filings"
or on UBPS's website at www.ubpsac.com.
Information Regarding Participants
UBPS and its directors, executive officers and certain employees
may be deemed to be participants in the solicitation of proxies from UBPS's stockholders in respect of the transactions.
Information concerning the ownership of UBPS's securities by UBPS's directors and executive officers is included
in their SEC filings on Forms 3, 4 and 5. Information regarding UBPS's directors, executive officers and other persons who
may, under rules of the SEC, be considered participants in the solicitation of proxies in connection with the transaction, including
their respective interests in the transaction by security holdings or otherwise, will be set forth in the definitive proxy statement
concerning the transaction when it is filed with the SEC. Each of these documents is, or will be, available as described above
Item 9.01.
Financial Statements and Exhibits
(d) Exhibits
Exhibit
Number
Description
2.1
Amendment to Agreement and Plan of Merger, dated as of August
        9, 2012, by and among UBPS and JetPay.
2.2
Amendment to Agreement and Plan of Merger, dated as of August
        9, 2012, by and among UBPS and EMS.
2.3
Amendment to Agreement and Plan of Merger, dated as of August
        9, 2012, by and among UBPS, ADC and Payroll Tax Filing Services, Inc.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Dated: August 10, 2012
UNIVERSAL BUSINESS PAYMENT SOLUTIONS ACQUISITION CORPORATION
By:
/s/ Bipin C. Shah
Name: Bipin C. Shah
Title: Chief Executive Officer