Iowa Issuing Unemployment Debit Cards

The state of Iowa’s Workforce Development is now paying unemployment
claims electronically through direct deposit and debit cards.
As of Monday, October 20, 2008, Iowans filing for unemployment benefits
will automatically be signed up for the debit card option unless direct
deposit is selected. Current recipients wishing to switch to a debit
card may do so by contacting one of the 55 Iowa Workforce Development
Centers across the state. Debit cards and direct deposit provide
benefits on a quicker time frame.
Paper checks are issued every two weeks with an obvious mail lag time,
while debit cards and direct deposit payments are issued weekly.

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Card Manufacturing Rises 12% in 2007

For the tenth consecutive year, the North American Region leads the world in the total number of cards manufactured with 9.1 billion units. Worldwide the unit market reached 19.2 billion cards last year, a 12% increase over 2006. The “Annual Card Manufacturing Global Market Survey” by the International Card Manufacturers Association also found that Asia Pacific manufactured 4.5 billion cards. Europe remained in the #3 position with just over 4 billion cards manufactured. Latin America reached the 1 billion mark in 2007 and Middle East/Africa manufactured 489 million cards last year. The ICMA noted that the value of the dollar affected the value of the overall global card market in 2007. NJ-based ICMA has more than 200 members globally.

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Q3 Volume Inches Among Top 5 Issuers

Among the top five credit/charge card issuers in the U.S., ranked by outstandings, only Chase and American Express gained ground in dollar volume in the third quarter. Overall, credit/charge card dollar volume rose a paltry 1.5% for 3Q/08 among the top issuers, compared to the year ago quarter. Chase reported a 4.6% gain in third quarter volume to $93.9 billion as American Express posted a 4.4% year-on-year increase to $120.3 billion. Capital One was flat compared to the year ago quarter at $26.5 billion. BofA slipped 1.3% to $62.7 billion as Citi decreased 3.4% to $80.3 billion. According to CardData, the top five issuers produced $383.7 billion in card volume for the third quarter, compared to $378.2 billion for 3Q/07. For complete details on third quarter issuer results visit CardData ([www.carddata.com](http://www.carddata.com)).

TOP FIVE CARD DOLLAR VOLUME
3Q/07 3Q/08 CHNG
AmEx $115.3 $120.3 +4.4%
Chase $ 89.8 $ 93.9 +4.6%
Citi $ 83.1 $ 80.3 -3.4%
BofA $ 63.5 $ 62.7 -1.3%
Cap One $ 26.6 $ 26.5 NC
Source: CardData (www.carddata.com)

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Mutual Merchant Services Targets Churches

Mutual Merchant Services has formed a strategic marketing alliance with Zion Systems
to provide mobile market credit card processing services to Christian organizations and to businesses
nationwide. Mutual Merchant Services is a single source provider of financial
services, offering a variety of products and services to merchants,
financial institutions, and banks. Services offered include credit and
debit card acceptance, check guarantee, check verification, check
conversion, check 21, advance funding, ACH check processing, prepaid and
bill pay services. Mutual Merchant Services also provides point of sale
software, hardware, and e-commerce products.

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RCC CAMPAIGN

The Retail Council of Canada (RCC) and its StopStickingItToUs coalition
kicks-off “Small Business Week”, representing over 120,000 Canadian
businesses that encourage federal political leaders to address the more
than $4.5 billion in hidden credit cards fees Canadians pay each year by
incorporating the issue into their consumer protection agendas. The
coalition applauds the strong commitment all parties made to enact
consumer protection measures during the recent election campaign and is
prepared to work with government to protect consumers and small businesses
from skyrocketing credit card fees. RCC and the StopStickingItToUs
coalition also call on credit card companies for a moratorium on new fees,
additional fee increases and the introduction of new premium cards as
government considers its options on the issue.

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Equifax USCIS Revenue Slips 9.5% in Q3

Equifax reported that third quarter revenue slipped 2% year-on-year to
$484.1 million, but that net income rose 6% to $72.3 million. Total
revenue for its U.S. Consumer Information Solutions
was $220.6 million in the third quarter, a 9.5% decrease from 3Q/07. The
operating margin for USCIS was 38.2% in the third quarter of 2008, up
slightly from 38.0% in the second quarter of 2008. Operating margin in
the third quarter of 2007 was 39.8%. The North America Personal
Solutions unit produced total revenue rose to $40.9 million, a 6%
increase from the third quarter of 2007. Operating margin was 29.8%, up
from 26.9% in the third quarter of 2007. For the fourth quarter the
Company expects total revenue to be in the range of $453 million to $463
million. For more details on Equifax’s third quarter performance visit
CardData ([www.carddata.com](http://www.carddata.com)).

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SCOTIAGLOBAL

Scotiabank’s Global Transaction Banking has launched
“ScotiaGlobal” electronic banking and “Integrated Payments” through
ScotiaConnect. ScotiaGlobal offers GTB clients who operate their business
across the NAFTA region access to real-time information on their
Scotiabank accounts in Canada, the US and Mexico. Through a single sign-on
to ScotiaGlobal, clients can also access their ScotiaConnect and Scotia En
Linea services to
manage their electronic cash management and payments across the region.
ScotiaGlobal also includes links to other Scotiabank international
online banking platforms along with trade finance and foreign exchange
services. In addition, valuable content on interest rates and economic
reports are available for clients who conduct business globally. The
Integrated Payments service streamlines the process of multiple
collections and disbursements, improving cash flow and reducing expenses.
Integrated Payments also allows clients to conveniently view, approve and
delete Electronic Fund Transfers and Automated Clearing House payments
online through ScotiaConnect.

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RedFin Network is PCI/CISP Compliant

FL-based Virtual Payment Solutions announced that Visa has accepted
Digital Resource Group’s filing of the Receipt of Compliance for the
“Blue Bamboo RedFin Network Payment Gateway”. DRG is
a Visa-approved auditor for regulatory compliance. VPS and its parent
company Secured Financial Network will move forward to co-brand the
RedFin Payment Gateway for Independent Sales Organizations (ISO’s),
banks, and processors.

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NETELLER NET+ CARDS

NETELLER Plc and partner TransSend Payment Services have begun to provide
Net+ Cards to its e-wallet customers. NETELLER e-wallet consumers can sign
up for these two new Net+ prepaid cards; “Net+ Virtual Prepaid Card by
MasterCard” for use online. The virtual
card application generates a single use, unique 16 digit card number and
populates the checkout page with full payment details for the user and the
“Net+ Prepaid Card by MasterCard” , a CHIP and PIN
plastic card which allows consumers to access funds within their
e-wallet at points-of-sale or by withdrawing cash at ATMs. The card will
be usable at 27.3 million acceptance locations, including 1.9 million
ATMs and other locations where cash may be obtained.

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U.S. Bancorp Acquiring Volume Flattens

U.S. Bancorp reported that its third quarter merchant acquiring volume grew 5% over 3Q/07 to $66.9 billion, but flat compared to the prior quarter. Credit card charge-offs rose to 4.85% for the third quarter, compared to 3.09% for 3Q/07 and 4.84% for the prior quarter.
Average credit card loans rose 5.7% to $12.2 billion. U.S. Bancorp’s Payment Services unit contributed $269 million of the Company’s net income in the third quarter, a decrease of 1.8% from the same period of 2007 and a 2.9% decrease compared with the second quarter of this year.
Net interest income increased 1.6% on a linked quarter basis, as loan volume growth was offset by declining rates. Total noninterest income increased slightly as increases in credit and debit card revenue and corporate payment products revenue due to volume growth were offset by a decline in merchant processing services revenue due to lower same store volumes and a change in the volume mix to business sectors with narrower processing margins. U.S. Bancorp currently processes for 847,897 merchants. For complete details on U.S. Bancorp’s 3Q/08 performance, visit CardData ([www.carddata.com](http://www.carddata.com)).

MERCHANT ACQUIRING VOLUME HISTORICAL
3Q/06: $56,411,000,000
4Q/06: $56,007,000,000
1Q/07: $57,839,000,000
2Q/07: $62,853,000,000
3Q/07: $63,882,000,000
4Q/07: $62,382,000,000
1Q/08: $64,853,000,000
2Q/08: $66,940,000,000
3Q/08: $66,941,000,000
Source: CardData (www.carddata.com)

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WAUSAU Hires Exec for its FDC Project

WAUSAU Financial Systems has hired Charlie Gibbons, previously with
Geller Services, as its EVP of Strategic Business Development.
As part of WFS new outsourcing venture with First Data Corporation to
provide full-service processing, Gibbons role will set the strategic
focus for the outsourcing initiative, including the coordination of all
sales, marketing, product management,
operations and product development efforts. Prior to Geller, Gibbons
served as a key strategist for Electronic Data Systems and was a
managing director for global business process outsourcing at
PricewaterhouseCoopers. In the mid 1990’s Gibbons was
president and CEO of Dun & Bradstreet Services When the corporation
changed direction, Gibbons launched the venture on his own and grew it
to annual revenues of $450 million as Intellisource. WAUSAU Financial
Systems is a provider of payment and remittance processing solutions.

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ProPay Targets eBay PowerSellers

UT-based ProPay has introduced the “eAuction Account” for eBay’s
silver, gold, platinum, and titanium “PowerSellers.” The new product is
integrated with the eBay checkout process and gives sellers the ability
to accept credit and debit cards. The transaction fees are determined by
the seller?s eBay “PowerSeller” tier: “Silver” ? 2.7% plus $0.30 per
transaction; “Gold” and “Platinum” ? 2.4% plus; and “Titanium” is
negoiable. The “eAuction Account” is available for an annual fee of $24.
This fee will be reimbursed in the form of a $24 processing credit to
those eBay sellers who process over $3,000 with ProPay during the first
6 months following their account activation. In January 2009, the
company says it will be launching the “eAuction Pro Account” that is
integrated with “eBay Checkout” and provides several other credit and
debit card processing options, such as an online virtual terminal and
touch-tone phone processing.

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