Borders.com Adds the Bill Me Later Option

Book retailer Borders has added Bill Me Later as an alternative payment for its new Borders.com website. Borders.com is also offering customers no payments for 90 days on purchases of $99 or more with Bill Me Later. Bill Me Later allows brands to simplify the payment experience to capture lost sales, increase customer loyalty and maximize profits. Through a single implementation of its Bill Me Later product suite, brands gain access to a set of technology solutions, including Bill Me Later, Bill Me Later Business, promotional financing, private label credit card programs and integrated marketing programs.

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Allpoint Network Signs Two More Clients

Chevron FCU and Technology FCU have joined the Allpoint Network and will offer their members surcharge-free ATM access. Joining Allpoint Network will allow them to provide increased surcharge-free ATM access for their members and manage their exposure to rising ATM surcharges. These top credit unions will now offer more than 8,500 surcharge-free ATMs in California and over 50,000 nationwide, surpassing Bank of America by more than 4,500 and 30,000 ATMs respectively. The Allpoint card model will enable both credit unions to secure a fixed cost structure for unlimited use at Allpoint ATMs that limits both credit union and member exposure to rising surcharge rates. The national average surcharge surpassed inflation by more than 300% in 2007 and Bank of America recently announced that their surcharge rates would rise from $2.00 to $3.00, a 50% increase. Chevron Federal Credit Union and Technology Credit Union have a combined total of more than $2 billion dollars in assets and over 130,000 members.

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CMIS II

Yucheng Technologies has signed agreements with China Construction Bank
to provides its credit management information system, “CMIS II.” CMIS II
is to provide Construction Bank with a credit asset performance and risk
management platform in all branches across China, providing analytical
tools for analyzing/monitoring credit asset-related data for the bank’s
head office. The filtering/analyzing data is provided courtesy of the
branches with pre-defined and customized reporting to support credit
related decision-making. These two organizations have been partners in
upgrading and maintaining the first generation CMIS since 2001, China
Construction Bank operates a network of more than 13,000 branches with
total assets of about $903 billion while Yucheng Technologies Limited’s
more than 1,800 employees provide IT service to the Chinese banking
industry.

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NFIB/Visa Awards 2008 Scholarships

Five college-bound seniors are the recipients of Visa’s 2008 National Federation of Independent Business. Peter Crabtree of Washington State has been awarded a $10,000 scholarship for his coffee and chocolate business. The four other winners of the NFIB/Visa Inc. National Young Entrepreneur Award will each receive a $5,000 scholarship. They are: Jim Cerenzie of Spanish Fork, Utah who will attend California State. He has an e-Bay based business that sells new “old” stock from a sporting goods wholesaler; John Kirkpatrick of Beckley, W. Va. who plans to attend Wake Forest University and is the owner of ZeroPricetags which offers “gadgets” to reward people who agree to test products or participate in surveys; Eric Knudson of Boyds, Md. plans to attend Stanford University and is the co-owner of Serve It Up Tennis, LLC. The tennis lesson company and Jacob Lindemann of Manitowoc, Wis. who plans to attend University of Wisconsin in Milwaukee and operates 360 Board Shop, a skateboard supply shop. This is the fifth consecutive year Visa has been the primary corporate sponsor of the NFIB Young Entrepreneur Foundation Young Entrepreneur Awards Program. Since 2003, the NFIB Young Entrepreneur Foundation has awarded 1,900 Young Entrepreneur Award Scholarships totaling $2 million.

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MONEY.BE VISA

Money.be direct cash provider and credit facilitator has launched its
Visa Gold Card for consumers in all European Union Countries with an
anuual fee of EUR100. The card was designed to help consumers pay off
debt easily and effectively while Money.be provides applicants with a
credit decision within 24 hours of receipt of its online application
form. The card was also designed to allow consumers to spread payments
and to centralize or alleviate debt. Representatives with the
organization have disclosed this is the first of a card segment to be
introduced over the coming months and will be targeting the “young
professionals” demographic.

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EXPAT PAYROLL

E-monee has been licensed to issue 50,000 payroll cards as stipulated in
a recent contract with the UAE government, 11,000 of which have already
been issued. The government-mandated agreement was designed to
facilitate the the expatriate, construction workers payroll program with
financial instruments to secure payroll, reduce remittance costs and
provide convenience with the use at satellite offices in Dubai. This
migration is a result of heavy construction in Dubai. The E-Monee
payroll program provides administrative applications with easy batch
programs (easily uploaded) and web services based on the company’s
requirements and can offer ATM/POS solutions at work sites/relative
locations. For employees, the program provides financial solutions with
the benefits of a banking system with access to online banking,
ATM/debit card(s), money remittances, direct bank transfers to
registered accounts, bill payment and 24/7 free customer
service(www.e-monee.com).

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APRIL CB INDEX

The Conference Board has announced the leading index for the U.K. has
declined for the 6th consecutive month in April by 0.5% and the
coincident index increased 0.1% to 0.7%. The total six-month change in
the leading index is -2.2% down from -1.1% between June and December
2007 while the real GDP growth slowed to a 1.8% annual rate in the first
quarter from an average annual rate of 2.5% in 2H/07. The leading index
now stands at 126.5, declined 0.1% in March and declined 0.4% in
February while the coincident index now stands at 120.2 having decreased
0.2% in March and increased 0.2% in February.

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S1 Corp and Clickatell Team for SMS

Payment platform provider S1 and message provider Clickatell have partnered to offer on demand text based mobile services for the S1 Enterprise and Postilion Internet Banking Solutions. S1 Enterprise and Postilion customers across the globe will be able to take advantage of the on-demand capabilities of SMS banking and payments services, including account balance inquiries, funds transfers, account alerts and person-to-person payments. The two-way SMS service enables users to proactively manage their finances and monitor potential fraud via their mobile phones. Clickatell’s global messaging gateway delivers transactions and alerts to and from cell phones over 700 networks in more than 200 countries.

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Consumer Discretionary Spending Sinks

A monthly survey reveals that consumers are seeing spending for necessities grow and budgets for discretionary spending shrink. However, the latest “Discover U.S. Spending Monitor” rose 1.4 points in May to 86.8, still showing very little retreat from the prior economic concerns. The Discover poll found 54% of consumers say their finances are getting worse and 43% saying that shortfalls in income would force cutbacks in their current lifestyle. The most important factor in the spending outlook appears to be the record-high price of gasoline. Consumers’ views of their personal finances also show stark contrasts from a year ago, as a “Monitor” high 54% think their personal finances are getting worse, compared to 44% a year ago.

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ATM REPORT

Based on RBR’s most recent analysis of western European ATM deployment,
“ATMs and Cash Dispensers Western Europe 2008,” ATM deployment across
the 18 respective countries is fast on the rise with over 12.3 billion
cash withdrawals in 2007 and growth in installed bases having increased
for the second year in a row. Led by Turkey’s growth rate of 13% thanks
to stable economic development, RBR statistics show growth in ATM is
paired with increasing sophistication given automated note acceptance is
now available at 24,900 ATMs. Additionally, France posted the third
highest ATM growth rate in the region with the largest increase in
installed base while Finland, although had the fewest ATM deployments,
posted the heaviest usage at 9,585 monthly cash withdrawals. Italy,
however, saw the lowest level at just 1,340 monthly withdrawals. RBR
strategic research and consulting firm first launched its annual survey
in 1983.

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Marquis Jet Card Receives an Award

Marquis Jet has been named in the Robb Report’s “Best of the Best” issue for “Best Jet Card Program: Fractional” for the fifth year. The Marquis Jet Card program was awarded the top honor based on the quality and ease of Marquis Jet Card ownership resulting from Marquis Jet’s exclusive access with NetJets and the value-added benefits available to Marquis Jet Card Owners. The Marquis Jet Card is available throughout North America, catering to businesses and individuals who desire access to the world’s best fleet and service.

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PAYMENT RATES

While most metrics for credit card-backed securities in the U.K. remained stable in April, the “Monthly Payment Rate” increased by 70 basis points. Over the past six months the “MPR” has oscillated between 16.60% and 18.40%. According to FitchRatings the “Monthly Payment Rate” rose to 18.00% in April, compared to 17.70% in the prior month and 17.90% six-months ago. Fitch reports that “MPR” increased for most of the trusts in April, with the largest increase coming for the Turquoise trust, which experienced a 240 basis point rise. Only Pillar and Cumbernauld registered a month-on-month drop, both of 40 basis points.
The Fitch “Charge-Off Index” in April was 6.5%, a 10 basis point drop from the March value. The “Delinquency Index” remained stable in April at 3.6%

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