INTERAC & CARD CONDUCT

Interac Association has disclosed the importance of addressing the
changes in the debit card marketplace in Canada and is prepared to work
with the Government in regards to the Card Conduct Code. Interac is
prepared to explore the feasibility of the merchant routing proposal to
ensure goals of transparency and choice are fully achieved. INTERAC
debit system serves millions of Canadians everyday, given nearly 60% of
all card payment transactions in Canada are debit. Given Canada now has
a multi-network debit environment, all competitors should play by the
same transparent rules providing adequate protection for merchants and
consumers. Because competitors do not abide by the same rules, INTERAC
is operating at a distinct disadvantage to its US-based multinational
competitors.

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AmEx OPEN Enables Small Biz Gov Contracts

American Express OPEN has launched “OPEN for Government Contracts:
Victory in Procurement(VIP) for Small Business”, created to enable small business
owners to capitalize on growth opportunities with government contracts.
Despite the enormous growth opportunity presented by federal contracts,
40% of business owners do not have any knowledge of how to apply for federal
contracts. In addition, 40% are not sure their product or service is purchased by the
federal government, according to a SCORE survey of 1100 small business owners.
The VIP program has set the following goals: educate and help one million business owners better understand the
contracting process; encourage 100,000 businesses owners to get “contract-ready” by
registering on the CCR or obtaining the proper certification(s) for their
businesses; facilitate up to 10,000 teaming, mentoring and coaching
opportunities for businesses and help business owners secure $1 billion in government
contract and sub-contract commitments. By partnering with Business Matchmaking,
SCORE “Counselors to America’s Small Business” and Women Impacting
Public Policy (WIPP), OPEN®’s VIP program is expected
to help business owners at every level of contract readiness access as much as
$1 billion in procurement opportunities.

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DEUTSCHE BANK & GEMALTO

Deutsche Bank has been appointed the Depositary Bank for the Level I
American Depositary Receipt (ADR) program of Gemalto. Gemalto digital
security had 2008 annual revenues of EUR1.68 billion and 10,000
employees operating out of 75 offices, research and service centers in
40 countries. Providing mobile connectivity, identity/data protection,
credit card safety, health and transportation services,
e-government and national security, Gemalto provides governments,
wireless operators, banks and enterprises a wide range of secure
personal devices such as Subscriber Identification Modules (SIM),
Universal Integrated Circuit Card (UICC) in mobile phones, smart banking
cards, smart card access badges, electronic passports, and USB tokens
for online identity protection.

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WalMart/MoneyGram Attack Western Union with New Pricing

Walmart has taken on Western Union full-force with a new rate of $7 to transfer up to $200 to more than 190 countries. In partnership with MoneyGram, Walmart is offering the discounted rate at more than 3,500 stores across the U.S. effective today. The companies say the new rate is 40% off the going rates charged by competitors. Walmart has entered the financial services market in a big way over the past two years, offering check cashing starting at $3; three-day, next-day and same-day bill payment delivery options, with prices starting at 88 cents and the “Walmart MoneyCard” a reloadable, pre-paid Visa debit card, available for $3. MoneyGram has 186,000 agent locations in 190 countries and territories. WalMart says the holiday season is one of the busiest times of year to send money. According to Walmart’s internal research, during the month of December the number of transfers typically increases by 14% over the previous 11 month average.

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SEPT DEBT

The recovery is sending mixed signals as credit card gross dollar volume was flat in September while credit card outstandings rose by 22 basis points in September, after rising 18 basis points in August, compared to one-year ago. Despite setting a new high in June, credit card loan growth has been sluggish in 2009. Annual growth in July was 1.6%, June was 2.0%, compared to May at 2.1%, 2.3% for April and 4.4% for March. According to the Reserve Bank of Australia credit card balances posted at A$45.1 billion for September versus A$44.1 billion one-year ago. Credit card volume came in at A$19.2 billion, compared to A$18.9 billion in August and and A$19.2 billion for September 2008. Credit limits now stand at A$125.6 billion, compared to A$121.3 billion in September 2008. According to the RBA there are currently 14.4 million credit card and charge card accounts in Australia, compared to 14.1 million one-year ago.

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REDECARD & PAYPASS

ViVOtech NFC and contactless payment systems contactless technology has
been selected to operate the MasterCard “PayPass” technology in Brazil
in conjunction with Redecard, the acquirer, at multiple merchant
locations. With 1.8 billion transactions per year in 1.3 million
merchant locations across Latin America, Redecard used ViVOtech
contactless technology to enable acceptance of MasterCard PayPass at
multiple locations. MasterCard Worldwide, Credicard, Citibank’s credit
card administrator for the Brazilian market, and Redecard have announced
the launch of MasterCard PayPass contactless payment technology in Rio
de Janeiro for public transportation and other quick service merchants.
ViVOtech’s infrastructure and application software products for mobile
payments, promotions and marketing enable its 550,000 reader-installed
base in 35 countries to function as communication and marketing devices,
communicating with consumers using Near Field Communication and interim
sticker technology enabled phones.

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FAST 50

INSIDE Contactless open-standard contactless chip technologies has been
recognized in the 2009 Deloitte Technology “Fast 50” award program.
Having won the Semiconductor, Electronic and Components category, INSIDE
Contactless beat out 287 competing companies. The “Fast 50” award honors
the most dynamic French technology companies, based on the percentage of
revenue growth over five years. This years’ Award focused on
organizations with technologies that help create new solutions and
business models and was themed on “Disruptive Technology—Build Another
Future”. Deloitte representatives verify all registered companies for
the ranking by comparing their revenues as disclosed in their financial
statements, which are provided by applicant companies. The award
establishes a national ranking of 50 technology companies with the
strongest revenue growth, which subsequently gain industry and media
awareness, new contacts with renowned investors, and national and
European benchmarking.

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EMV MIGRATION

With 100% anticipating their credit and debit card portfolios fully
migrated to EMV/chip within one to five years, reducing payments fraud
is the top driver for issuers and acquirers to adopt EMV/chip in Brazil
and Mexico, while they are also driven to position themselves as
innovators and technology leaders. This, according to the Smart Card
Alliance Latin America (SCALA), Visa and First Annapolis Consulting, was
based on research conducted with 13 issuers/acquirers in Mexico and
Brazil and is disclosed in the report, “EMV Migration Study and Market
Analysis on Mexico and Brazil.” To gage issuers’ and acquirers’
perspective on the current state of EMV migration and the long-term
growth of the EMV market, the report addressed such questions as; “What
were the key factors influencing the adoption of EMV/chip cards; What
challenges were encountered during the EMV/chip migration process?; How
are organizations leveraging EMV/chip technology to improve performance;
What is the “next wave” in the evolution of the EMV market?; What is the
business impact of EMV/chip adoption for issuers and acquirers?; and
What is the EMV/chip market size in Mexico and Brazil through 2015?

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HRKS

Hypercom Corporation High security electronic transaction solutions has
been awarded the Sesame Award at Cartes 2009 for its “HyperSafe Remote
Key System” (HRKS). The Remote Key System is the industry’s first
standards-based remote key injection product that allows retailers to
quickly and securely initiate on-site, in-store payment terminal key
injection at the point-of-sale. Offering a fast and highly secure
alternative to the industry’s traditional secure room key injection
process, HRKS eliminates the need for off-site secure room key injection
by incorporating Public Key Infrastructure to securely distribute
symmetric 3DES keys. HRKS meets ANSI x9.24 and Visa PIN Security
Guidelines for remote key management, and is FIPS 140-2 Level 3 and X509
compliant.

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U.S. Bank to Offer Visa Mobile

U.S. Bank and Visa have teamed to offer “Visa Mobile” to select U.S. Bank debit card
holders. The “Visa Mobile” application, which made its debut in the fall of 2008,
has been enhanced for the launch with U.S. Bank, providing account
holders with even greater functionality, more information about their
Visa accounts, and greater choice in the type of merchant offers they
can take advantage of which include alerts. Visa account holders are able to choose from an expanded
list of preferences for when they would like to be notified of account
activity. Those preferences include transaction amount, international
transactions, gasoline purchases, declined transactions and card not
present transactions such as ecommerce purchases. Cardholders are
notified in near-real time of account activity, typically within seconds
of completing a purchase. Account holders can choose from an expanded list of
merchant categories they would like to receive offers from, including
electronics, convenience stores, entertainment, flowers and gifts, gas
stations, travel, health and beauty. A number of merchants are already
making offers available to Visa Mobile users such as Club TeeTime,
FragranceNet.com, Omaha Steaks, Papa John’s Pizza, and Planet Hollywood.
Visa Mobile users can located participating merchants to redeem
offers or filtering down to find near-by U.S. Bank ATMs is aided through
the use of location-based services. Merchant offers can be embedded with
a link to Google Maps™ and directions to the nearest retail location
where Visa account holders can redeem that offer.

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