HSBC VIETNAM

HSBC has announced its will install its 108th ATM cash machine in
Vietnam to become the foreign bank with the most ATMs installed
nationwide and intends to invest $28.6 million on developing the
machines to advance service. Amid these developments, it was reported 32
different banks provided ATM 8.3 million cards across the country last
year, 4,300 ATMs were installed and 23,000 new points of sale accepting
of payment cards were introduced.

HSBC is the first foreign bank to set up a wholly foreign-owned
subsidiary in Viet Nam in line with the country’s commitments to the
World Trade Organization and is the first foreign bank to issue
certificates for dollar deposits in Viet Nam. The company began
operations in Viet Nam in 2005.

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Visa and Chase Launch a SMS U.S. Pilot

Visa has teamed with Chase to launch a consumer pilot that delivers SMS
text for merchant offers directly to mobile devices of Phoenix area
Chase cardholders. Visa is delivering merchant offers
to mobile devices via short message service. The trial takes
advantage of the widespread adoption of “texting” as an everyday
activity by younger consumers aged 18 to 34, who are the primary group
selected for the program. The offers – from merchant discounts to
specials – are tailored to match the personal interests selected by
Chase cardholders and will be redeemable at the POS or the web site of
more than 50 participating merchants.

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TAL CARD

The Central National Bank in Enid has introduced its “Tal Card” prepaid
debit card products targeting Brazilian immigrants. The “Tal Card”
products are designed to allow users to send money back home without the
high fees commonly seen when sending remittance through a typical bank.
The new products issued through the Enid Central National Bank are
available as an instant-issue card-with-PIN or on a personalized
MasterCard platform and offer such optional financial services as
insurance and emergency medical plans. Central National has been
issuing/processing prepaid cards since 2000, currently manages more than
30 card programs and had assets of more than $525 million for 1Q/08.

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CB Says Economy May Grind to a Halt

The U.S. leading index decreased by 70 basis points while the
coincident increased 10 basis points for July, according to the
Conference Board. The leading index’ decline is consistent with a 90
basis points decline since December and is a direct result of slowing
building permits, stock prices, and inverted weekly initial claims.
Meanwhile, the coincident index increases are inconsistent with a 40
basis points decrease seen throughout the 6 months prior and is
partially die to high unemployment. The Conference Board noted that the
“Leading Index” points to slow growth through the rest of the year, and
possibly an economy grinding to a halt.

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MYDESIGN CARD

Australia-based building society, Newcastle Permanent, has partnered
with Serverside Group card customization to launch the ‘MyDesign Card’
online card design competition to don the face of the organization’s
“Value+” credit card, its Visa debit card and its “CashCard”. The
contest invites participants to upload and enter their favorite card
designs to a vast online gallery, through which the top 10 designs will
be voted on by visitors of the website. Contestants with the best design
will be rewarded a 120 GB Sony video camera and two 32 GB iPod Touch’s.
Serverside Group digital card design and provider of innovative software
solutions provides its “AllAboutMe” web-based application and its
Virtual Portfolio web-based management tool for nearly 200 issuers in 23
countries.

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HITACHI FINGER VEIN ID

Hitachi has announced plans to introduce its finger vein personal
identity authentication system to allow credit card transactions through
biometrics rather than the more easily infiltrated plastic card. Hitachi
has teamed with JCB Co. to test the ‘finger vein ID system,’ which
requires the user to register their print when the account is first
established. With a projected retail price of less than 30,000 yen, the
new solution, however, will cost a projected estimate of several million
yen for the development of its credit payment processing system.

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Bank Freedom Prepaid Visa Card Coming

Prepaid Card Holdings’ subsidiary Bank Freedom has gained approval from
its issuing bank MetaBank and Visa to market the “Bank Freedom Prepaid
Visa Card”. Bank Freedom plans to launch the card in 10 days. The
emerging prepaid card solutions offered by Bank Freedom are to be
marketed as a card account and payment solution for the unbanked and
underbanked. Prepaid Card Holdings is a publicly traded holding company
whose current holdings consist of a 100% interest in the Berman
Marketing Group, a multi-channel direct market firm specializing in
direct response marketing through TV, radio, Internet and print media
and Merchant Processing International.

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MOBILE VIRTUAL STORE

Spirit Airlines has signed agreements to deploy the GuestLogix “Mobile
Virtual Store” on-board retail technology solution with the intention of
increasing non-ticket revenue. This revenue generated through on-board
retail sales, the airline hopes, will absorb some of the impact on the
corporation from higher fuel prices, an issue plaguing airlines across
the industry. Using wireless handheld POS devices and integrated
software services, GuestLogix solutions is generating potential revenue
of its own from 5 million additional annual flights offered through
Spirit Airlines. Employing 2,300 associates, Spirit Airlines provides
200 daily flights across the United States, Latin America and the
Caribbean to over 43 destinations while GuestLogix on-board retail
technology and solutions allows air, rail and ferry providers the
resources needed to generate revenue through on-board retail solutions.

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Involuntary Attrition Rate Nearly Doubles

Voluntary and involuntary credit card attrition have soared this year
to a new high. Voluntary attrition, the number of accounts canceled by a
cardholder, hit 7.77% in July, compared to 6.66% in the prior month and
9.04% one-year ago. Involuntary attrition, the number of accounts canceled by an issuer, posted a 12.55% ratio in July, compared to 11.45% in the prior month and 6.61% one-year ago. CardData says issuers are
more aggressive in reining in credit lines and closing accounts in the
wake of a weak economy.

INVOLUNTARY ATTRITION
2003: 8.27%
2004: 7.39%
2005: 7.21%
2006: 5.30%
2007: 6.61%
2008: 12.55%
Source: CardData (www.carddata.com)

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NCR & NCI

NCR Corporation has acquired NCI teller connectivity software for
undisclosed terms. With this acquisition, NCR plans to further develop
NCI’s “Teller Cash Connectivity” suite of applications, teller
connectivity and teller cash recycling solutions. “Cash Connectivity”
provides a single software platform for the connection of teller
automation devices, integration with branch platforms and will allow
institutions to monitor transaction activity. OH-based NCR Corporation
global technology company provides self-service and comprehensive
support services for organizations across various sectors in more than
100 countries while NCI’s applications are widely used by financial
institutions in North America and Europe to improve teller productivity.

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TrueCredit Finds High Student Card Debt

A recent Zogby survey commissioned by TrueCredit.com found that nearly
23% of college students left college with more than $5,000 in credit
card debt and one in 10 respondents indicated they owed more than
$10,000 for purchases made with credit cards. According to a 2007 study
by student-loan provider Nellie Mae, the
average credit card debt for college students is about $2,748. For a
person that makes minimum payments, it would take nearly 18 years and an
additional $2,506.01 in interest, at a rate of 15 percent, to pay off
their debt.

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