Duane Reade Renews MoneyGram Contract

Global payment provider MoneyGram International has
renewed its agent agreement with NY-based drugstore chain Duane Reade. As part of the multi-year agreement, MoneyGram
introduced Utility Bill Payment services at Duane Reade locations that
already offer MoneyGram money transfers, money orders and
ExpressPayment services for urgent bill payment and reload options for
prepaid debit cards. MoneyGram International helps consumers to pay bills
quickly and safely send money around the world in as little as 10
minutes. Its global network is comprised of 180,000 agent locations in
190 countries and territories.

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CONVERGED IAM

Identita has been selected to install and manage of one of the largest
converged logical-physical identity and access management installations
in the world. For a large national airline carrier in the Middle East,
whose identity is not being disclosed, Identita will be deploying its
“Converged IAM”, which creates one identity assigned to one credential
that encompasses all of an identity’s logical and physical access
privileges. When one set of physical or logical privileges change, an
automatic alteration is triggered for complementary revisions in the
other set. Converging identities address time-consuming, expensive and
inefficient management encountered through disconnected logical and
physical identities proliferation.

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Monitise Mobile Money Manager Hits Milestone

UK-based Monitise global mobile money specialists has registered its one millionth customer following a period of rapid growth in the uptake of its industry-leading services. The Monitise “Mobile Money Manager” platform handles 25 million transactions annually with debit card activation, balance texting and alerts to help people avoid going overdrawn. Research projects the mobile payments market will be worth GBP365 billion by 2013 with 110 million users in Europe by 2014. Current Montise partners include VocaLink, FIS, HSBC, Lloyds TSB, first direct, Alliance & Leicester, Royal Bank of Scotland, NatWest, Ulster, Visa, Vodafone, Orange, O2, T-Mobile and 3.

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GUESTLOGIX & NORTHWEST

Northwest Airlines has chosen to implement GuestLogix POS handhelds and
retail transaction platform across its fleet of passenger planes. It was
late 2007 when Delta began using the GuestLogix platform, a leading
provider of onboard retail solutions to the airline industry. This comes
on the heels of GuestLogix having signed deployment agreements for
WestJet, having made available the ” Mobile Virtual Store” on-board POS
system to allow guests to purchase buy-on-board items with their payment
cards on all WestJet flights. Passengers are given the convenience to
pay in either Canadian or U.S. currency or to use their Visa, MasterCard
or American Express cards (CardFlash International 10/7/2009).

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Tempo Intros a SaaS Card Platform

CA-based affinity card enabler Tempo has rolled out a SaaS platform to
enable organizations to offer open loop debit cards and loyalty rewards.
Tempo’s new solution is supported by an innovative software-as-a-service
(SaaS) technology platform, which makes it easy for organizations to
offer affinity and co-branded debit cards. It is also easy for consumers
to apply, activate their cards, and track purchases online. Working with
First Bank & Trust, Tempo manages all aspects of card issuance,
including risk management, application processing, card fulfillment,
authorization and settlement. The debit cards enabled by Tempo are
issued by First Bank
& Trust, of Brookings, SD, part of Fishback Financial Corporation.
Tempo’s platform enables these cards to be linked to cardholders’
pre-existing checking accounts.

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ING & NCR

NCR is set to provide at least 1,200 “SelfServTM 34” ATMs with
cash-recycling functionality for ING Belgium at their Proxi branches.
Proxi branches highlight “self bank” self-service and customer advice
areas and, with this NCR deployment, reduce safety risk to staff and
customers, not to mention greater autonomy in day-to-day banking. Cash
deposited through the units, which have a capacity of approximately
16,000 notes, will be re-dispensed to subsequent customers making
withdrawals. ING Belgium has taken a clear lead with this approach,
requesting automatic cash-recycling modules on almost all the 1,200 ATMs
for installation, 95% of which will be installed inside branches. This
is the most extensive deployment of cash-recycling ATMs in Europe.

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Experian to Track Discretionary Spending

Experian has introduced “Discretionary Spend Estimate” which provides insight about household spending.
Identifying the most appropriate target audience is the first step for marketers who want to
reach the right consumers with their products and services, according to
Experian®. Knowing which consumers have discretionary dollars to spend
and reaching those who are most likely to spend is key when it comes to
closing the sale. Consumers who appear nearly identical in terms of demographics actually
may vary widely when it comes to discretionary spending. Traditionally,
marketers have used income, net worth and income-producing assets to
enhance their consumer targeting efforts. While beneficial, these data
elements provide insight only into spending capacity, not how much
actually is being spent.

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Most Americans Want CARD Act Moved-Up

According to a new survey, a majority of consumers (56%) want the law
moved up to December instead of February 2010. The survey also found 45%
(up from 33% in June survey) of consumers say their card company has
made one or some combination of the following changes to a credit card
account: increased their interest rate 27% (up from 15% in February
survey); increased their fees 19% (up from 14% in June survey);
lowered their credit limit 17% (up from 8% in February survey);
increased their minimum payment due 17% (up from 12% in June survey);
and reduced their rewards program 12% (up from 9% in June survey).
This national telephone poll was conducted for Credit.com by GfK Custom
Research North America from October 10-11.

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World Debit MasterCard Adds Another Issuer

Since its launch in March, the “World Debit MasterCard” has gained momentum. The new card offers an extensive rewards, savings and an
array of special perks. Fifth Third Bank has now introduced the card. The card features “MasterCard Savings” that provides U.S. consumer debit and prepaid MasterCard cardholders with significant merchant-funded discounts and special offers from thousands of merchants across the country. The Fifth Third Bank “World Debit MasterCard” also features access to “Priceless.com/World,” through which cardholders gain unique access to events and games and can take advantage of exclusive opportunities for hotels, shopping and travel. Cardholders can earn one point for every $1 spent on signature purchases and enjoy no limit on how many rewards points they can earn each year. When combined with the “Fifth Third Rewards Checking” account, customers also can earn one point for every $10 in direct deposits to their checking account. The card also offers “MasterCard Savings Plus.”

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Charge-Offs of Top Issuers Up 156BPS from Q2

Over the past twelve months average managed charge-offs among the
nation’s top three issuers have nearly doubled, rising from 5.93% for
3Q/08 to a record 11.16% for 3Q/09. Sequentially, charge-offs jumped 156
basis points compared to 242 basis points, according to CardData. Chase
reported that its managed net charge-off rate for the third quarter was
10.30%, up from 5.00% in the prior year and 10.03% in the prior quarter.
Excluding Washington Mutual, the managed net charge-off rate for the
third quarter was 9.41%. Chase notes that within the WaMu portfolio,
charge-offs hit 21.94%, compared to 19.17% in the second quarter and
12.09% at year-end 2008. BofA reported that third quarter charge-offs
for its global cards rose to 12.90%, compared to 11.73% for 2Q/09 and
6.40% one-year ago. Citi posted managed charge-offs for its North
American cards of 10.29% for the third quarter, compared to 10.18% in
the second quarter and 6.39% in the third quarter of last year. For
complete details on third quarter results visit CardData (www.carddata.com).

CHARGE-OFFS HISTORICAL
BofA* Chase Citi**
3Q/08: 6.40% 5.00% 6.39%
4Q/08: 7.16% 5.56% 6.68%
1Q/09: 8.62% 7.72% 8.42%
2Q/09: 11.73% 10.03% 10.18%
3Q/09: 12.90% 10.30% 10.29%
* Global Cards
** North America cards
Source: CardData (www.carddata.com)

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Diebold Increases ATM Service Security

Diebold has introduced a two-factor authentication technology that uses a secure USB device to identify and authorize technicians who service ATMs. The new “ValiTech” also provides a detailed audit trail.
Prior to the introduction of “ValiTech,” Diebold technicians had to secure a temporary password, provided by the financial institution, each time a service call required a technician to access the system level of the ATM. This practice holds true for any service technician accessing an institution’s ATM, requiring multiple calls and generating numerous temporary passwords. Diebold’s “ValiTech” links each authorized service technician to a USB hardware cryptographic device – or token – using a digital certificate from VeriSign.

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