Fiserv Intros Source Capture Optimization

Fiserv information technology services has introduced its “Source
Capture Optimization” solution providing financial institutions to
enhance branch, teller, ATM, merchant and regional deposit
functionality. The new solution provides clients an integrated source
capture platform combining the “CheckFree” web-based application and
Fiserv image capture solutions for consistent image quality, fraud
protection, courtesy amount recognition (CAR), legal amount recognition
(LAR), remittance processing and ACH conversion features. Fiserv
provides information management, electronic commerce systems and has
nearly $4 billion in total revenue from continuing operations.

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EPAGES ECOMMERCE

ePages e-commerce solutions has integrated Moneybookers for Global Reach
and Payments Expertise to provide hosted merchants secure credit card
and domestic payment options to customers. Integrated with ePages online
shop, Moneybookers allow merchants to minimize security concerns for a
wide variety of payment options through the Internet or e-mail from over
40 countries. Moneybookers European online payment systems currently
provides services to over 10,000 merchants, who in turn serve 5 million
customers, available in 12 different languages while ePages Software
powers more than 40,000 online shops for over 1,000 companies.

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Fair Isaac Beefs-Up its Fraud Alert Net

Fair Isaac has launched its “Fraud Alert Network Forum” to facilitate collaboration among financial institutions against fraud. The forum allows financial professionals to share tips, techniques and experiences to counter against increasingly sophisticated fraud schemes, counterfeit ATM/credit cards and phishing scams through collaboration in a secure environment. Ideally, members will discuss specific criminal
attacks and how to manage similar incidents on the “Fraud Alert Network Forum”, to which membership is free for banking, credit union and law enforcement professionals. The new forum was previously known as the “CardAlert Fraud Forum,” originally launched in 2002.

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PREPAID HOUSING CARDS

Alliance & Leicester Commercial Bank is rolling out a prepaid card
payments solution in response to the government’ plan to transfer
payment of housing benefit to claimants instead of landlords.
The change in the way housing benefits are paid came into force on 7
April, following the recommendations in the January 2006 Welfare Reform
Green Paper – Empowering people to work. The report was aimed at
financially empowering lower income tenants. The prepaid card solution
is particularly aimed at the 800,000 UK
citizens who receive housing benefit, while being classified as
“unbanked” (i.e. without access to a deposit or current account).
A prepaid card scheme will allow local authorities
to save up to 75 per cent of their processing costs for the payment of
housing benefits, as well as remove the on average cost of 10%
charge to the recipients when converting cheques to cash.

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Client Loss Impacts PDS Q2 Performance

TX-based Payment Data Systems posted a 14% decline in second quarter revenues and a net loss of nearly $0.5 million. The Company noted that the primary contributing factor to the recent decline in revenues is the loss of its largest credit card processing merchant in the second quarter. Although this merchant had agreed to renew their processing agreement with PDS, the sponsoring bank did not approve the renewal. However, the loss was mitigated by acquiring twenty-seven new merchant accounts during the second quarter bringing the total number of merchant accounts to 363. Revenues for 2Q/08 were $659,045 and the net loss was $491,238. For complete details on PDS’ second quarter performance visit CardData ([www.carddata.com](http://www.carddata.com)).

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MOBILE PAYMENTS SERIES

Based on current statistics, money transfers will generate a
total, global revenue of over US$5 billion by 2013 through commissions/fees for the providers, who are poised to take advantage of a booming market as early as 2010 to 2013, during which time the global annual gross transaction value is projected to grow over 10 times.
According to the Juniper Research “Mobile Payments Series” report, mobile remittances are becoming a source of increased income for service
providers. Additional findings show Western Europe, Africa, the Middle East and Far East regions will represent over 60% of the global mobile money transfer gross transaction value by 2013.

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CompuCredit 2Q/08 Charge-Offs Top 19%

Atlanta-based sub-prime credit card specialist CompuCredit reported a
net GAAP loss for the second quarter of $44.9 million compared to a $2.5
million net GAAP loss in the prior quarter, and a net GAAP loss of $11.0
million one-year ago. Total managed receivables dipped by 7%
year-on-year for the second quarter ending at $3,581,277,000. During the
second quarter the Company noted that a significant number of credit
card accounts added in 2007 reached their peak vintage charge-off levels
in the first and second quarters of this year. At the end of the second
quarter, the 60-plus day delinquency rate stood at its lowest level in
two years. The adjusted charge-off rate was 19.2% in the second quarter,
up from 18.5% for the first quarter and 9.0% in the previous year
quarter. As of June 30th, the 60-plus day delinquency rate was 12.6%,
down from 16.5% for 1Q/08 and 13.4% for 2Q/07. At the end of the
quarter, CompuCredit had 4,590,000 accounts, compared to 4,983,000 in
1Q/08. For complete details on CompuCredit’s second quarter performance,
visit CardData ([www.carddata.com](http://www.carddata.com)).

COMPUCREDIT NET INCOME* SNAPSHOT
4Q/06: $ 9.7 million
1Q/07: (-$ 2.5 million)
2Q/07: (-$11.0 million)
3Q/07: (-$53.2 million)
4Q/07: $15.8 million)
1Q/08: ( -$2.5 million)
2Q/08: (-$44.9 million)
*GAAP
Source: CardData (www.carddata.com)

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CREDECARD EXEC

Contis Group’s CredEcard prepaid card specialist has appointed Russell
Atkinson CEO, effective August 11, 2008. Atkinson comes to his new role
from Blackhawk Network as Managing Director of the organization’s
international card issuing business bringing with him more than 7 years’
experience as a leader in the prepaid card businesses. Russell’s
contribution, for example, was essential to establishing Travelex as a
key issuer of prepaid travel cards and he is maintaining his 5-year role
as Chairman of the Electronic Money Association e-money trade body.
Contis Group Limited is a financial services company providing payment
solutions in the prepaid market and has acquired credEcard Limited, a
specialist in the prepaid card market based in the UK with development
operations in India.

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Meta Payment Systems Q2 Revenue Doubles

IA-based prepaid card banker Meta Financial Group reported a net loss of $0.4 million compared to net income of $2.6 million for the year ago quarter. However, Meta Payment Systems posted quarterly fee revenue more than doubled from 2Q/07. MPS also continued its controlled roll-out of “iAdvance,” its new patent-pending micro-credit product. Year-over-year MPS revenue grew by 90% to $10.1 million. MPS now comprises 57% of the Company’s total revenue from continuing operations compared to 31% of total revenues in the same quarter last year. For complete details on Meta Financial’s second quarter performance visit CardData ([www.carddata.com](http://www.carddata.com)).

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WIRECARD & IPS

Electronic payment and risk management solution provider
Wirecard and Shanghai-based International Payment Solutions have
announced a strategic alliance to offer joint payment and risk
management services for the European and Chinese eCommerce market.
The alliance between Wirecard and IPS extends Wirecard’s coverage of
China’s domestic payment schemes and substantially broadens Wirecard’s
service offering for the Asian market. In parallel, IPS’ China-based
enterprise customers gain access to all major European domestic payment
and risk-management schemes. IPS was the first payment company providing international credit card online
real-time payment processing services in China.

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PAY88 2Q/08

Reflecting its recent success in China’s online gaming market, Pay88 has
reported its 2Q/08 fiscals ended June 30th show positive gains. For
the quarter, the Company had gains in net sales of 277% from the year
ago period to $4.7 million while gross profit was up $96,755 from $30,055 during the same period. For the six months ended June 30, 2008, the Company had net sales of $10.2 million, 334% over the year ago period, while gross profit rose to $228,851 from $45,462 during the same 2007 period. Much of this success is thanks to Pay88’s hold on 80% of the Chongqing gaming market. Pay88 resells online multiplayer game time in China in more than 20 cities.

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CREDIT CARD SURCHARGES

Results from the latest
Merchant Acquiring and Card Markets report from East & Partners reveals
that 26% of merchants are attaching surcharges to purchases with more
that 38% of merchants planning to do so. The latest report has also
found that transaction charges paid by merchants, known as merchant
service fees, have begun to stabilised after a period in decline.
This is down from more than 90% of merchants reporting such fee
decreases back in December 2007. Moreover, 18.9% of SME (A$5 million to
A$20 million turnover) and 22.5% of Micro Business merchants said their
fees actually went
up, a substantial increase from about one percent of these merchants
reporting fee increases six months ago. East & Partners’ Australian
Merchant Acquiring and Cards Markets program
is an ongoing six-monthly research service designed to deliver accurate
market intelligence on Australia’s merchant acquiring and cards markets.

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