Major Economic Index Edges Up in Sept

The latest economic data suggest that conditions in the
non-financial economy are not falling apart. Data on hand reflect a
contracting economy, but not one in free fall. The Conference Board reported that the “Composite Index of Leading Economic Indicators” edged up 0.3% in September, following a 0.9% decline in August, and a 0.7% decline in July. It is the first increase in the last five months. Real money supply, consumer expectations, the interest rate spread, and the index of supplier deliveries all made large positive contributions to the index in September. Six of the ten indicators that make up the leading index increased in September. The Conference Board noted that the extreme volatility in the financial market, and the near freeze-up of credit, will no doubt weaken the economy further.

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EXPERIAN & DP INFO

Experian has acquired a 40% minority stake in the credit and business information bureau DP
Information Group. DP Info is the leader in the provision of credit and business
information services in Singapore across three key lines of services,
including credit and business information services, credit management
solutions and SME advisory and business bureau services. DP Info’s credit
and information portal, QuestNet, is currently used by 95% of Singapore’s
financial institutions and 75% of its legal firms. Its subsidiary, DP
Credit Bureau, was recognized by the Monetary Authority of Singapore to
operate a consumer credit bureau in May 2007 and started operations one
year later.

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Visa Unveils Accounts Payable Automation

Visa has unveiled a streamlined business expense management system as an enhancement to its portfolio of commercial payment products and services. The new “Visa Accounts Payable Automation” service is targeted at large and mid-sized businesses. “Visa AP Automation” integrates directly with ERP solutions and company expense management technologies. The integration capabilities are enabled by “Visa Data Integration Services,” a suite of new commercial payment tools and applications that includes connectivity, file mapping, data enrichment and transformation solutions. U.S. Bank will pilot the Visa data integration services. Also, to help enable seamless access to “Visa Purchasing Card” services, Visa has established alliances with global ERP provider Lawson and data integration solutions provider Hubspan.
Visa cited industry research which shows that fully automated companies can save $10.87 per payment.

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FREESTAR 2Q/08

Freestar Technology has achieved record revenues for the fiscal year
ended June 30, 2008 of $6,259,707, a 66% increase of approximately
for the prior year ended June 30, 2007.
Net cash used in operating activities decreased to $3,713,921, a 35%
decrease from the prior fiscal year. The Company processed a total of
19,019,055 transactions during the fiscal year ended June 30, 2008, a
modest decrease from the 19,443,999 transactions processed during the prior
fiscal year. Transaction processing and related revenue increased to
$2,076,309 for the year ended June 30, 2008, compared to $1,945,512 during
the prior fiscal year, an increase of approximately 7%.
Dramatic increases in consulting revenue and hardware sales related
revenue were the primary components of the increase in revenue, with
transaction processing and related revenue showing modest increases as
well. Compared to the prior fiscal year, consulting revenue increased by
115%, hardware sales and related revenue increased by approximately 164%
and transaction processing and related revenue increased by approximately
7%.

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Business Owners Voting for Cash Flow

Six out of ten small business owners indicate they would cross party
lines this year to vote for the U.S. presidential candidate that they
feel will do the most to help their business. About 56% of those
participating in the recent survey say the current credit crunch has
adversely impacted their business. The research by management consulting
firm George S. May International revealed that of those respondents that
said they were being impacted by the credit crunch, 13% said they have
had to dip into their retirement savings, 11% said they have had to use
personal savings, 11% said they have had to use credit cards to help
keep their business going, and 38% said they are waiting this economic
turmoil out and in the meantime going into debt. Meanwhile, 27%
said they were exploring other ways to handle the financial problems
facing their business. Of the impacted group, 23% cited late-paying
customers and vendors; 14% said their lines of credit were being pulled;
9% said they were having difficulty making payroll; 23% said all of the
above; and 31% cited other ways, which were not specified.

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VALIMO & TURKCELL

Multipurpose ID solution provider Valimo announced that
Turks have made over 1.8 million mobile transactions after only 19
months from implementation.
Turkcell’s subscribers can legally sign documents and
confirm transactions, including money transfers and internet banking,
securely with their mobile phones. Already more than 13 banks in Turkey
allow their customers to use
Turkcell’s “Mobile Signature Service” to authenticate themselves for online
banking and to digitally sign bank transactions. It is possible to withdraw
money from ATMs using mobile signatures. Customers can also apply for a
loans service on a bank’s website through this service. If the amount
requested is
approved, it can be withdrawn directly from an ATM with the mobile signature
service. Turkish customs authorities also utilise mobile signatures to
speed up
customs processing by allowing mobile transactions and signing of
documents. Turkcell is the leading GSM operator in Turkey with 35.4
million postpaid and prepaid customers as of June 30, 2008.

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CHARGE Anywhere Releases Java Software

POS security provider CHARGE Anywhere has released “CHARGE Anywhere
v2.0.0” mobile payment and POS software solution on Java 2 Micro Edition
phones. CHARGE Anywhere is adding the Java environment to its growing
list of platforms, including Windows Mobile and BlackBerry OS, so that
its PA DSS application will be available to more users across a variety
of device types.The introduction of the CHARGE Anywhere application on
phones supporting J2ME gives merchants an even wider range of mobile
phones and smartphones to choose from. With CHARGE Anywhere’s secure
mobile payment software on mobile phones, merchants don’t have to buy
costly equipment in order to process credit card payments anywhere,
anytime. By utilizing existing mobile phones, merchants can start
processing transactions in just a few minutes with a simple download
directly from the phone.

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Consumers Osculant Over E-Pay & M-Pay

New research reveals an increasing demand for online funds transfer
services among consumers and a growing interest in person-to-person
online payments and mobile banking. The annual study for CashEdge found
that consumers are moving their money for a variety of reasons,
including: to transfer money to a checking account (66%); to transfer
money to a general purpose savings account (52%) and to take advantage
of a higher interest rate (49%). When respondents were asked how they
perceive mobile banking, nearly 60% said that they feel mobile banking
is equally secure or more secure than online banking. When asked how
likely they would be to use mobile banking technology, if offered by
their bank, the respondents revealed similar results – 60% would be
likely to use and 21% would be extremely likely to use.

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CTA and I-GO to Intro a Dual Purpose Card

The Chicago Transit Authority and I-GO Car Sharing are cleared to launch
a joint smart card that can be used to gain access to I-GO vehicles and
ride the CTA. With board approval, CTA and I-GO will commence
development of the joint smart card. The program is expected to be
launched by the end of the year. Individuals who wish to register for a
Chicago Card Plus and are eligible for an I-GO membership will have the
opportunity to participate in the program. Customers who register online
for both services will receive a single card that can be used to ride
the CTA and unlock their reserved I-GO vehicle.

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CITI GLOBAL 3Q/08

Citigroup reported that revenues for its global card business declined 40% in the third quarter. In North America revenues declined 60% mainly due to lower securitization results and in Latin America third quarter revenues dropped 34% primarily due to the absence of a gain on the sale of Redecard. Meanwhile, Citi’s Asian card business revenues jumped 24% and in the EMEA region card revenues were 5%, year on year. In North America, credit costs nearly doubled, reflecting higher net credit losses, up 68% or $311 million. In EMEA, credit costs increased 33%, in Latin America, credit costs increased 65% and in Asia, credit costs increased 51%. Worldwide credit card purchase volume of $111.1 billion was flat in the third quarter compared to one year ago. The number of open credit card accounts fell slightly to 182.7 million at the end of 3Q/08. For complete details on Citi’s third quarter performance visit CardData (www.carddata.com).

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Radiant Payment Services is Launched

GA-based e-payment provider Radiant Systems has launched Radiant Payment
Services with a focus on delivering payment processing services to U.S.
hospitality and retail businesses. Radiant Payment Services will
continue expanding the recurring
services model, which currently comprises a third of Radiant’s revenues.
More than 5,000 stores and restaurants are already using Radiant Payment
Services. Radiant Systems is a
global provider of technology to the hospitality, retail, and
entertainment industries. Radiant’s point of
sale hardware and software solutions have helped to redefine the
consumer experience in more than 100,000 restaurants, retail stores,
stadiums, parks, arenas, cinemas, convenience stores, fuel centers and
other customer-service venues.

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SCM & XIRING

Remote transaction provider XIRING and SCM Microsystems have partnered to develop mobile eHealth smart card
terminals for the German healthcare system. With this agreement, SCM will sell the mobile terminals
in Germany through its existing distribution channels and Value Added
Partners. XIRING brings strong technical and field experience to
the collaboration, highlighted by its robust mobile platform for
healthcare professionals that is already deployed in France. SCM
Microsystems has developed several generations of proto-type and
market-ready desktop eHealth terminals based on its close, multi-year
collaboration with gematik, the German healthcare organization
overseeing the country’s eHealth scheme, and the German Federal Office
of Information Technology, BSI (/Bundesamt für Sicherheit in der
Informationstechnologie/), in charge of defining security requirements
for the program. XIRING and SCM are uniquely qualified to address the
demanding technical specifications and strict security targets for
mobile terminals in the German program. Beginning in
late 2008, new electronic health insurance cards will be distributed to
82 million German citizens, creating a market for compatible mobile
eHealth terminals that facilitate at-home patient consultation and
treatment by Germany’s 310,000 healthcare professionals and 130,000
physiotherapists.

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