GLOBALPLATFORM TRAINING

Offering smart card deployment education, GlobalPlatform is set to host
a one day card specifications technology training session in the Grand
Hyatt Hotel, San Francisco on Wednesday July, 22. Overseen by
GlobalPlatform’s Technical Director, the smart card development
organization hopes to enlighten US delegates, providing an overview of
its specifications, ‘core’ card specifications training and information
on forthcoming technical releases. Additionally addressed will be
educational items including the “GlobalPlatform UICC Configuration”
technical guide on common and neutral environments for deployment and
“Amendment C to Card Specification v2.2”. GlobalPlatform member driven
association has deployed an estimated 305.7 million smart cards globally
for over-the-air (OTA) application downloads on 3G and GSM mobile networks.

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Norway’s BBS Acquires Two Ingenico Units

Norway-based BBS has acquired Sagem Denmark and Manison Finland from Ingenico. The two firms generated at total of $54 million in annual revenues. As part of the deal BBS will distribute Ingenico’s “Telium”- based terminals in the Nordic region. BBS is owned by Nordic banks and offers a wide range of payment services. BBS has annual revenues of about $264 million. Ingenico notes that the disposal of these two companies acquired is part of the transaction of Sagem Monetel. The closing of the transaction should take place in the next 60 days.

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BBS & INGENICO

Norway-based BBS has acquired Sagem Denmark and Manison Finland from Ingenico. The two firms generated a total of 39.1 million euros in annual revenues. As part of the deal BBS will distribute Ingenico’s “Telium”- based terminals in the Nordic region. BBS is owned by Nordic banks and offers a wide range of payment services. BBS has annual revenues of about 1.7 billion NOK. Ingenico notes that the disposal of these two companies acquired is part of the transaction of Sagem Monetel. The closing of the transaction should take place in the next 60 days.

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CYBER-ARK SURVEY

The 2009 3rd annual Cyber-Ark “Trust, Security & Passwords” survey of
more than 400 IT professionals has found 35% of IT workers now access
corporate information without authorization, a 2% increase over the year
ago period. Concerning mostly enterprise class companies in the US and
UK, additional findings show 74% could circumvent security controls
currently in place; 20% of companies have experienced insider IT
security fraud, of which 36% suspect their competitors to have gained;
71% of respondents oversee privileged accounts which are partially
monitored; 35% of IT administrators admitted using administration rights
to access confidential information such as HR records, customer
databases, M&A plans, layoff lists and marketing information. With the
depletion of the economy, Cyber-Ark also saw an increased interest in
appropriate information between 2008 and 2009, such as M&A Plans with 7%
and 47%, respectively; R&D Plans with 13% and 46%, respectively; CEO
Passwords with 11% and 46%, respectively; Financial Reports with 11% and
46%, respectively; Privileged Password List with 31% and 42%,
respectively; and Customer Database with 35% and 47%, respectively. The
full report can be seen at;
http://www.cyber-ark.com/pdf/Cyber-Ark_Spring_2009_Snooping_Survey.pdf .

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UK ABS

Moody Investors Service is assessing the possible credit impact of
certain trust provisions in UK credit card master trust transactions. In
doing so, Moody’s is focusing on transaction documents of UK credit card
master trusts; assessing practical ability for receivables generated by
an insolvent originator; and evaluating the extent to which these
provisions may negatively affect credit card master trust transactions
where such provisions exist. In evaluating provisions, the investor
services firm seeks to establish whether the provisions may result in
exposure of the noteholders to the risk the master trust may be exposed
to a fully declining pool on the basis that future receivables may no
longer be assigned to the master trust and exposure of the Noteholders
to the risk that the market value of the securitized assets may be
insufficient to fully repay the Notes.

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VISA GREENCARD

Following a partnership formed in September 2008 with RePay International and a recent partnership with PaySquare, Visa Europe has unveiled a “green” charge card for the Dutch government and business sectors. The “Visa Greencard Corporate” enables government and business cardholders to carry out sustainable management by offsetting CO2 emissions resulting from all transactions with the charge card. The card builds on the successful launch of the “Visa GreenCard” for consumers in 2004. RePay engineered the “ClimaCount” concept and will take care of the calculations, insight into and offsetting of CO2 emissions for each transaction. PaySquare will handle the marketing of the new card. “ClimaCount” is supported by the non-governmental organization
Conservation International and the Dutch Organization for Applied
Scientific Research. Cardholders in the business and government
sectors can access the www.climacount.com website to check their
purchases and transactions with the charge card, and they can also
verify the relevant CO2 emissions and indicate their preference for the
way in which these emissions will be offset.

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MASTERCARD BOARD

At the MasterCard “Annual Meeting of Stockholders,” Richard Haythornthwaite, David Carlucci and Robert Selander were reelected as “Class A Directors” with a term to expire in 2012. Steven Freiberg, EVP of Citibank, was reelected as a “Class M Director” until 2012. MasterCard’s Board also announced that the program to convert or transfer of up to 11 million shares of “Class B” common stock into “Class A” common stock has been closed. The Board also declared a cash dividend of $0.15 per share, payable on August 10, 2009, to holders of record of its “Class A” common stock and “Class B” common stock as of July 10, 2009.

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ZOOMPASS

The country’s three top wireless operators have banded together to launch a new money transfer and payment service. “Zoompass” has been introduced via EnStream, a joint venture owned by Bell Mobility, Rogers and TELUS. The new service is also available to mobile users of their respective sub-brands and affiliates including Fido, PC Mobile, and Solo Mobile. Customers can access “Zoompass” on their computer via the Internet, from the mobile web, or by downloading the “Zoompass” application right to their wireless phone. During the registration process, users must choose a PIN to be used for each transaction. Customers may also select to link their personal bank account or credit card to make loading and transferring money. Another unique feature of the service is the ability for customers to make secure purchases in stores and on the Internet using the balance in their “Zoompass” account with the optional “Zoompass Prepaid MasterCard,” issued by Peoples Trust. The new MasterCard is enabled with MasterCard’s “PayPass” contactless technology.

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Citi and ExxonMobil Launch a Card Promo

Just in time for the summer travel season, Citi is offering its
“ExxonMobil” Personal card members the chance to win big. Cardholders
applying for or using their Citi “ExxonMobil” for purchases at any Exxon
or Mobil station will be automatically entered to win a $2,000 cash
prize in the “Personal Card $2,000 Daily Prize Giveaway” sweepstakes,
which will be given away to one lucky customer everyday throughout the
month of June. Targeting the 75% of Americans planning to travel this
year, 42% of whom plan to vacation closer to home, the promotion is open
to legal residents of the 50 United States and DC (Void in NJ, VA and
MD) 18 years of age or older. Benefits of the Citi “ExxonMobil” card
include; no annual fee; use at 11,000 Exxon and Mobil station outlets;
free Speedpass key tag; monthly gas purchase tracking; flexible payment;
24/7 online account access; ATM cash access; and protection with Citi
Identity Theft Solutions. Citi financial serves 200 million customers in
more than 140 countries.

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NATIONAL BANK MASTERCARD

With intentions of providing U.S.-based incentive agencies and their
corporate clients a cost effective, localized incentive with employee
recognition programs, Accor Services North America incentive and rewards
programs has introduced its latest program to the U.S. market. The newly
launched “Global Rewards” program takes on the challenge of globally
expanding U.S.-based corporations’ need to provide worldwide coverage
integrated into a single solution using local expertise in sourcing and
fulfillment. Through the convenience of centralized, U.S.-based account
management, the new program dispatches orders and information across its
global network, consolidates payables into a single invoice and provides
reward fulfillment services in 46 countries around the globe. Sourcing
and fulfilling orders locally and managing them centrally, Accor
Services relies on local experts in each country for reward sourcing and
offering customers a wide range of reward solutions such as retailer
gift vouchers, retailer gift cards, open loop gift cards, merchandise,
and more.

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Overall Credit Card Debt in 2008 Slips 30 BPS

The nation’s five largest states, based on overall credit card debt
outstanding at year-end 2008, posted a 46 basis points average decline,
compared to the prior year. The biggest decrease was recorded for Texas
and California, where year-on-year card debt slipped by 60 bps and 50
bps, respectively. Nationally credit card debt declined by 30 bps last
year. According to CardData, total credit card debt for 2008 was $958.1
billion, compared to $961.0 billion for 2007. The total includes
bank-issued credit cards as well as retail credit cards. According to a
survey released earlier this week by TransUnion, the aggregate balance
on all bank-issued credit cards for an individual bankcard borrower
inched upward nationally by 82 basis points to $5,776 from the previous
quarter and by 409 basis points, compared to the first quarter of 2008.
TransUnion also found that the steepest increases in average bankcard
debt over the previous quarter occurred in Alabama (+5.6%), Mississippi
(+5.4%) and Tennessee (+4.7%). The District of Columbia experienced the
largest drop in average bankcard debt (-1.5%), followed by the Wyoming
(-1.2%) and New Jersey (-1.1%). (CF Library 6/8/09)

CREDIT CARD OUTSTANDINGS 2008
(bank and retail credit cards)
California $134.9 billion -50 bps
New York $ 78.7 billion -40 bps
Florida $ 70.8 billion -40 bps
Texas $ 53.1 billion -60 bps
Illinois $ 48.3 billion -10 bps
Source: CardData (www.carddata.com)

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