CREDICARD

Credicard of Citigroup and Elavon Global Payments of U.S. Bancorp have signed a binding agreement to establish a JV creating a merchant services company that will offer a full suite of payment solutions. The new company will compete in a growing market that demands scale, experience, service quality and innovation. Combined with Credicard’s market expertise and brand recognition, Elavon will deliver a robust processing platform, financial efficiency, innovative payment solutions and secure point-of-sale devices for mobile acceptance environments. The new company will be branded as “Elavon” and will be supported with the launch of a sales force with national coverage, as well as in-market operations, technology and product resources.

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VESTA

OR-based Vesta Corporation electronic payment solutions has begun managing “Tele2 Latvia’s” electronic Web & IVR top-up channels. Vesta will also support live agent top-ups hosted by Tele2. This lets Tele2 prepaid customers use streamlined, secure top-ups via a wide variety of payment devices and payment channels. Vesta’s payment technology is also fully PCI Data Security Standard (PCI DSS)-compliant. Mandated by leading credit card issuers, PCI compliance assures that requirements for payment data security are being met.

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Plastic Jungle Names New VP, Business Development

Loren Scott has been appointed Plastic Jungle Vice President, Business Development. Loren has held executive responsibility for Gap gift card programs and brings with her more than 15 years’ experience in gift credit and other prepaid card programs to Plastic Jungle. Through the Plastic Jungle marketplace and its proprietary payments applications, users can sell unredeemed gift cards for up to 92% of the verified gift card balance or buy gift cards to their favorite stores at up to 30% off.

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SINOPAC DISPLAY CARD

NagraID Security has confirmed its successful pilot with MasterCard and Bank Sinopac for its display cards. With this, NagraID Security will keep developing and bring innovative products that enhance security for online payments and transactions, namely to Taiwan. The rise in e-commerce transactions has increased demand for payment security, the innovative features of the new display card, now available through the “SinoPac Display Card” cardholders can take advantage of a wide range of mobile financial services such as online transactions using 3D authentication security and non-predesignated account transfers.

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Revolving Consumer Credit Drops 8.5% Y/Y

Consumer credit increased 1.75% in October 2010 since the year ago period but revolving credit outstanding was down 8.5% over the same period. With this,
nonrevolving credit was up 6.75% since October 2009. This is compared to the September figure when revolving credit outstanding was down 13% since the
previous year to $806.1 billion and the year ago figure when revolving credit was down 12.4% to $865.8 billion. Top revolving credit issuers, in order,
include commercial banks with $598.6 billion outstandings, compared to $362.4 billion last year; finance companies with $67.7 billion outstanding, compared
to $46.4 billion last year; Credit unions with $35.3 billion outstanding compared to the year ago figure of $35.4 billion; and savings institutions with
$38.1 billion, compared to $45.5 billion.

Top Revolving Credit Issuers 2009/2010($B)
Commercial banks 362.4 598.6
Finance companies 46.4 67.7
Credit unions 35.4 35.3
Savings institutions 38.1 45.5
Nonfinancial business 8.8 8.4
Pools of securitized assets 6,7 402.8 46.2
SOURCE: FEDERAL RESERVE

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Phones 4U Escape

Prepaid credit card comparison website www.compareprepaid.co.uk has launched its prepaid credit card deal in conjunction with Phones4U. The “Phones 4U Escape” Prepaid MasterCard comes with a free Companion Card, as well as a SIM card with GBP10 credit included. The card also includes international Money Transfer in 60 seconds, text top-up and the facility to earn 1% cash back. The new card is one of a number of exclusive prepaid credit card deals available on the website.

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ConocoPhillips Certifies Passport With PA-DSS POS

TX-based ConocoPhillips has approved “Passport” with PA-DSS POS system software Version 8.03G for convenience store retailers on their network. Gilbarco is now shipping orders for new Passport systems and Passport upgrades for the ConocoPhillips V8.03G software. The “Passport” architecture segregates all PA-DSS software into a single device to mitigate the impact of on-going changes by PCI. Retailers benefit from Remote Diagnostics and Gilbarco’s 24x7x365 Help Desk that enable most troubleshooting, fixes and software upgrades to be completed without on-site service calls and site downtime. It offers seamless connectivity and standardization to support a large number of third-party loyalty partners and programs, business information and security features, sophisticated business growth tools and easy expandability.

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IENIGMAFOR

charismathics PKI middleware and iEnigmafor Windows Mobile software application for smartphones now lets users implement their smartphone as a smart card, with no need for additional hardware. The application replaces formerly required hardware and keeps the user’s digital identity securely within the smart phone. Upgradable to regular PKI smart cards, iEnigma is compliant to all existing identity management schemes and does not require any change to processes or user habits. Soon to support Blackberry, Android and Apple, iEnigma is also available as authentication engine for third party applications and services so that banks and other service providers are able to use it in combination with their services.

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Oberthur Implements EMV Issuance in US

Oberthur Technologies smart card based solutions has seen an increase in EMV demand from card issuers in the United States. Multiple launches from leading financial institutions are currently underway, for early 2011 deployment. Oberthur Technologies has issued over 600 million EMV cards globally and offers a comprehensive range of EMV payment solutions to meet clients’ needs, including contact, contactless and dual interface payment cards and prepaid cards. The Company also offers “EMV-in-a-Box” fully integrated EMV migration solution and management program based on best practices gained by Oberthur Technologies’ work on more than 200 EMV projects worldwide. The “EMV-in-a-Box” program includes on-site consultation, EMV training, project management and technical support.

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Vesta to Manage Top-up Channels for Tele2 Latvia

OR-based Vesta Corporation electronic payment solutions has begun managing “Tele2 Latvia’s” electronic Web & IVR top-up channels. Vesta will also support live agent top-ups hosted by Tele2. This lets Tele2 prepaid customers use streamlined, secure top-ups via a wide variety of payment devices and payment channels. Vesta’s payment technology is also fully PCI Data Security Standard (PCI DSS)-compliant. Mandated by leading credit card issuers, PCI compliance assures that requirements for payment data security are being met.

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nFinanSe Launches Reloadable Prepaid Debit Cards

The nFinanSe card is being recognized for its low fees, the lowest monthly maintenance fee of $2.95 and lowest ATM withdrawal fee of $0.99 in the Consumers Union 2010 report on the industry. The nFinanSe Reloadable Prepaid Visa and Discover Cards sell for just $3 at retail stores and allow cardholders to load additional funds or “top up” for only $2.95. nFinanSe also offers FREE direct deposit of payroll, FREE 24/7/365 live agent customer service in English and Spanish and FREE cell phone text message alerts with purchase and balance information* after each transaction. nFinanSe does not charge additional fees for text message alerts regarding purchase and balance information.

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