CTRIP & PAYPAL

Travel service provider Ctrip.com International has entered into a
strategic agreement with PayPal, the largest online payment platform in
the world. Under this agreement, foreign nationals now will be able to
book air tickets on the website of Ctrip by paying with PayPal. This
will facilitate Ctrip to attract overseas customers. Statistics from
the Beijing Tourism Administration show that the growth
rate of overseas tourists coming to the city has been over two digits in
the six years since 2001 when Beijing was granted the right to host the
2008 Summer Olympics, and the city is expected to receive 4.6 million
foreign tourists in 2008.

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Concur Board Adds an AmEx Executive

Employee spend management specialist Concur has appointed Ed Gilligan,
vice chairman of American Express,
to its board of directors. Gilligan’s appointment is in conjunction
with American
Express’s equity investment in Concur. Gilligan is a member of
American Express’s Operating Committee, which is responsible for developing
the strategic direction for American Express and determining policies
affecting the company overall. Ed joined American Express in 1980 while
studying for his BS in Economics and Management at New York University. He
began his full time service with the company in 1982. He was named a vice
president of Business Travel in March 1988. He went on to become a senior
vice president of Commercial Card and Business Travel for the Eastern
Region of the United States in June 1992. He assumed the role of business
unit president for Commercial Card and Business Travel for the United
States in June 1995. In June 2002. Ed was named one of two group presidents
at the company, overseeing the international consumer card business and the
global portfolio of payment and travel services offered to corporate
clients worldwide.

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FICO 08 Restores Authorized User Accounts

With over 50 million U.S. consumers authorized users on another’s credit card, Fair Isaac has released methodology for restoring authorized user credit accounts to the calculation of “FICO 08” credit scores while reducing potential impact to the score from tampering. Using its own patent-pending technology, “FICO” has introduced the methodology to help protect scores from credit repair and help lenders meet legal requirement of the Equal Credit Opportunity Act. Fair Isaac’s Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations in 80 countries the power to automate, improve and connect decisions across their business, namely with its FICO score introduced in 1989.

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Credit Managers Index Rebounds Slightly

The seasonally adjusted “Credit Manager’s Index” rebounded slightly in July at 50.9. For the combined index, six of the 10 components fell and six remain below 50. The CMI survey asks credit managers to rate favorable and unfavorable factors in their monthly business cycle. Favorable factors include sales, new credit applications, dollar collections and amount of credit extended. Unfavorable factors include rejections of credit applications, accounts placed for collections, dollar amounts of receivables beyond terms and filings for bankruptcies.

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Metavante and NPN Into CustomPay

Metavante and auto loan acceleration provider National Payment Network
are now offering National Payment Network’s “CustomPay”.
“CustomPay” is designed to help borrowers customize the timing of
auto loan payments, accelerate loan payoffs and help build equity
faster, deploys a dynamic financial engine composed of multiple
Metavante payment components. Through its use of Metavante prepaid,
ACH and online bill payment solutions,
“CustomPay” differentiates itself from other loan acceleration programs
and delivers added value for dealers, distribution partners and
consumers. The model for many loan acceleration programs includes trust
accounts, which are typically owned by the administrator and co-mingle
consumer funds. Metavante ACH, online
bill payment solutions and prepaid debit accounts are unique to
each individual customer which enables consumer funds to be held
individually as opposed to co-mingled.

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Universal Debit/Credit Names a New President

VA-based ISO Universal Debit & Credit
Corporation announced that co-founder Lonnie D. Gaddy, III is retiring
and CEO Carlos Gavidia will assume the title of President. Gavidia and
Gaddy co-founded the organization in 1994. Together they
led the company to 15 years of continued growth, revenue generation and
development into one of the nation’s leading payment processing
specialists.

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MONEY TRANSFER

Visa has extended its “Money Transfer” service to cardholders in
Indonesia and in Singapore, allowing users to send funds conveniently
and securely to other Visa cardholders around the world. The
organization’s remittance programs are also present in the United Arab
Emirates, at 16 banks in Russia and more than 5,000 ATMs, the Ukraine and
Kazakhstan, where four banks launched the first 24/7
cross-border Visa Money Transfer service at ATMs. Since 2003, 46 Visa
Money Transfer programs have been deployed around the world in 13
different countries while research conducted by the World Bank shows
workers’ remittances around the world totaled US$240 billion in 2007 alone.

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GP & HSBC

Global Payments electronic payment processing solutions has partnered
with HSBC bank to provide payment processing services to merchants in
the Philippines and to expand the current ten-year marketing
alliance agreement among the organizations. Global Payments’ cash
obligation for the acquisition will equate to its 56% ownership in the
joint venture, or approximately $11 million, is subject to customary
closing conditions and is expected to close during Global Payments’
2Q/09. HSBC Group financial services institution has assets of nearly
US$2.4 trillion and over 10,000 offices in 83 countries while Global
Payments electronic transaction processing services provides merchants,
Independent Sales Organizations (ISOs), financial institutions,
government agencies and multi- national corporations around the world
with a line of processing solutions.

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State Card Debt Figures Released

Americans for Fairness in Lending (AFFIL) has conducted research on
median credit card debt per borrower in each of the 50 states and the
District of Columbia demonstrating credit card indebtedness has become
particularly large, especially within Alaska where the median credit
card debt is $3,384 for each borrower- $1,200 higher than any other
state. Other states leading average debt per borrower include New
Hampshire with $2,109, Connecticut with $2,094, Maryland with $2,042 and
Colorado with $2,030. States with the least amount of per capita credit
card debt include Mississippi with $1,098, Iowa with $1,135 and West
Virginia with $1,237. Americans for Fairness in Lending non-profit
organization works to end predatory lending practices, provide
information to help consumers, educate policymakers about the need for
reform and demand action to assist debt-burdened Americans.

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BMO SPEND & PAYMENT

BMO Spend & Payment Solutions North American commercial card solutions
provider has announced further expansion of its global banking
partnerships through Asia’s United Overseas Bank and Europe’s BCC
Corporate NV to enable North American companies to conduct business more
efficiently worldwide. These agreements are part of a BMO effort to
establish a worldwide network with local support banks to service
corporate card accounts virtually anywhere, allowing customers to
conduct business more efficiently. United Overseas Bank has expanded
this relationship to include locations in Hong Kong, China; Singapore;
Thailand; and Indonesia while BCC Corporate has partnered with BMO in
Belgium, The Netherlands, Luxembourg, Germany and France.

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