Debt Resolve Unveils the iSettleNow Service

NY-based Debt Resolve has rolled out “iSettleNow,” a consumer debt
settlement site and has established an Online Debt
Resolution Alliance and will hold a conference for creditors on
September 26, 2008 in New
York City to discuss the potential of the technology and establish industry
standards to maximize the effectiveness of iSettleNow. Debt Resolve is
launching iSettleNow.com in response to
consumer demand, the increased costs of collection, impaired settlement
rates and with the knowledge of a dramatic increase in online banking
and general Internet usage. According to the Federal
Reserve, Americans carry $13.825 trillion in debt.

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CU Card Portfolios Rise 14% Since 2Q/07

Credit union credit card assets grew 14% over the past year to $30.1
billion, more than twice the growth rate of total credit
union assets. Also, the percentage of portfolios that grew more than
the rate of inflation during the previous 12 months increased from 71%
in June 2007 to 76% in June 2008. According to OR-based AssetExchange,
the average balance per account increased 10% from June 2007 to
June 2008 to $2,509. Additionally, five credit unions with portfolios
greater than $1 million sold their portfolios in 2Q/08 with about $20.5
million in combined balances. In the 2nd quarter of 2007, 21 credit
unions sold their portfolios representing $132 million in balances.

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Consumers Pull-Back on Discretionary Spending

CreditCards.com has released the results of its “Second Annual Taking
Charge” national survey demonstrating American consumers are adjusting
their spending behavior to meet market conditions by cutting back on
credit card spending, paying down debt and monitoring interest rates.
The survey investigates America’s relationship with credit cards
demonstrating a profound pull-back on discretionary spending and a
general avoidance of the credit crunch. In doing so, 25% of U.S.
cardholders spent less on household living expenses in June than usual,
33% ended the month with less debt than the month prior, 34% spent less
on discretionary expenses, the number of current cardholders has dropped
4% since the same period last year, 7% of Americans are very worried
about paying credit card bills while 63% are not at all worried. Among
those worried about credit card bills are those with incomes below
$75,000, those with four or more credit cards and those older than the
age of 40.

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Spirit Airlines to Deploy GuestLogix Solution

Airline retailer GuestLogix has partnered with low cost Spirit Airlines
to deploy GuestLogix’ “Mobile Virtual Store” on its domestic and
international flights. The GuestLogix Mobile Virtual Store(TM) enables
airlines to become smart
and profitable on-board retailers by optimizes planning and forecasting,
facilitates on-board sales transactions and provides rapid intelligence
to on-board retail trends to support merchandising, promotions, and
logistics. The solution takes all forms of payment, including cash (in
multiple currencies), credit cards, loyalty cards, stored value cards,
vouchers and coupon sales.The Spirit deal potentially adds another five
million passenger trips annually to GuestLogix’ industry leading
on-board retail platform, which includes wireless handheld POS devices
and integrated software services. Airline operators simply pay for the
platform access on a per transaction fee basis. The selection was made
following Spirit’s recent aggressive move to remain focused on growing
non-ticket revenue and adding customer value in the face of escalating
fuel prices.

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GiftCertificates.com Names a New CEO

e-commerce provider GiftCertificates.com has tapped Gary Krow,
previously with Comdata, to serve as CEO. As president of Comdata from
1999 to 2007, Krow led the transformation
of the company from a diesel fuel transactions processing company to a
full service electronic payment processing company specializing in
credit, debit and stored value. Krow’s tenure there was characterized by
numerous significant accomplishments. He greatly increased Comdata’s
market capitalization, accelerated its growth rate, and increased
revenues and operating margins. GiftCertificates.com offers an extensive
product
portfolio including the SuperCertificate Reward which is redeemable for
hundreds of original merchant gift cards. GiftCertificates.com also
features a variety of Specialty SuperCertificate , Merchant, MasterCard
and American Express -branded Gift and Reward Cards.

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Fifth Third Bank Embraces Visa Signature

OH-based Fifth Third Bank is now offering “Visa Signature” cards to
customers through its more than 1,300 banking centers.The Visa Signature
card is designed for affluent customers and benefits include round-the
clock “Visa Signature Concierge” services
to assist with everything from travel reservations and entertainment
plans to business meeting arrangements, special shopping requests;
customized dining recommendations through “Visa Signature
Dining”, as well complimentary access to the latest Zagat Survey
restaurant ratings and reviews online; access to advance ticket sales
and premier seating at popular music, film, theatre, gourmet dining and
sporting events through “Visa Signature Access”, as well as VIP access
to once-in-a-lifetime
experiences like the Super Bowl, Tony Awards, and the Olympic Games; and
unique merchant upgrades, offers and savings through “Visa
Signature Privileges”. Fifth Third holds $115
billion in assets.

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DESJARDINS 2Q/08

The Desjardins Group has released its 2Q/08 earnings report reflecting a
surplus of $338 million, up 7.3% since the year-ago period, during which
time profitability was up 29% and assets were up 6.3% to $151.9 billion.
Net premiums grew by $48 million and net interest income grew $43
million to $858 million due in part to an 8.2% growth in total loans and
a 9.5% growth in total deposits. Desjardins Group’s total income for the
quarter grew 10.5% to $2.4 billion from the same period in ’07 while
provisions for credit losses totalled $46 million. Other expenses from
claims, benefits, annuities and changes in insurance provisions grew
43.1% to $777 million for 2Q/08 and Non-interest expenses amounted to
$1,166,000. Desjardins financial institution group is intent on
continued growth in terms of meeting the needs of members and clients
and fostering business development through an accessible, effective and
comprehensive service offering.

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UATP via Acculynk Goes for PIN Debit Cards

Universal Air Travel Plan has partnered with GA-based Acculynk to enable
the use of PIN debit cards for online
purchases for the travel industry. When consumers arrive at the online
airline checkout, they are given the option to pay for their purchase
with PIN debit. Consumers enter their card number and associated
information as they normally would, but the PIN
is entered on Acculynk’s graphical, scrambling PIN-pad. The PIN is
encrypted, never passes through the airline checkout, and is processed
securely, along with the card information, across existing payment
channels. Acculynk is a technology provider with a suite of
software-only services that secure online transactions.

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Democrats Get Wooden Key Cards in Denver

CO-based Sustainable Cards has partnered with CPI Card Group to deploy
70,000 of their wooden, biodegradable key cards in Denver hotels during
the Democratic National Convention to address the negative environmental
impact of traditional plastic key cards. Impressed with the “Denver 2008
Host Committee” logo and made of sustainable harvested wood the keys
cards are just as durable as traditional plastic ones, but allow hotels
to reduce their plastic waste by 1,300 tons per annum. The cards will
make a Denver debut August 25th to 28th at the Convention and are
expected to serve an anticipated 35,000 hotel guests. Sustainable
manufacturers eco-friendly hotel keys and retail gift cards.

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VeriFone Revenues Rise 7% in 2Q/08

As previously announced payment terminal specialist VeriFone filed
amended and restated quarterly reports for the last two years. For the
quarter ending April 30th, the Company posted a 7% increase in revenues
to $233 million, however its net loss widened from $4.8 million for
2Q/07 to nearly $18 million for 2Q/08. Revenues for the quarter were
driven by the Lipman acquisition and strong international performance.
The Company also announced that for the quarter ended July 31, it
expects to report net revenues of $256 to $258 million, representing
revenue growth rates of 10% to 11% over last year. VeriFone shares
climbed more than 35% yesterday on the revenue projections and its
accounting cleanup. Additionally, VeriFone announced that Clinton
Knowles has become its interim CFO. Knowles succeeds Barry Zwarenstein
who, pursuant to the terms of his separation agreement, is resigning as
VeriFone’s CFO. For more details on VeriFone’s latest performance visit ([www.carddata.com](http://www.carddata.com)).

VERIFONE RESTATED REVENUE HISTORICAL
2003: $339 million
2004: $390 million
2005: $485 million
2006: $581 million
2007: $903 million
Source: CardData (www.carddata.com)

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WOOLWORTHS CREDIT CARD

Woolworths is set to embark on the financial sector with the launch of
its first branded credit card come September 2008. The card will be
issued in partnership with MasterCard and HSBC and is targeting the
parts of the economy still demanding credit cards, such as families in
some degree of financial distress. The Woolworths credit card allows
users to collect points on transactions for shopping vouchers that can
be used at Woolworths, Safeway supermarkets, Safeway liquor stores, Big
W, Dick Smith and Tandy. Playing on a long successful model, as observed
in other parts of the world, the department store is the first to launch
its own credit card in Australia and believes its large customer base
will ensure the success of the new credit card and, effectively, of its
new financial services division.

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Pipeline Data Q2 Profits Climb Nearly 2%

MA-based Pipeline Data reported that gross profit rose 1.9% in the
second quarter to $4.5 million. Also, gross margin increased 10.1% to
37% for the quarter ended June 30th from 33.6% for the period ended
2Q/07. The Company noted that it dedicated a substantial amount of time
and resources during the second quarter to its expected merger with
COCARD and the implementation of two significant vendor relationships,
which will serve to further reduce its processing costs. Total operating
expenses increased $0.3 million or 7.9% to $4.3 million for the quarter
ended June 30th from $4.0 million for the year ago quarter. Pipeline
Data provides value-added credit card transaction processing services
for merchants in three key areas: wireless mobile payment, e-commerce
solutions and retail merchant payment. For more details on Pipeline’s
latest results visit CardData ([www.carddata.com](http://www.carddata.com)).

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