FDC FD50

First Data has introduced an affordable POS terminal featuring solid design and construction, easy operation and state-of-the-art security. The new “FD50” features touch-screen technology, five USB ports, 64 megabytes of memory, and is off-the-shelf multi-language capable. It is the latest addition to the expanding First Data proprietary terminal line, which already includes the “FD100.” The “FD50” terminal supports both dial-up and IP communications. With the addition of optional peripheral equipment, the “FD50” terminal can also accept contactless payments, and checks using TeleCheck ECA or paper solutions.

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CPI Card Group Lands a New Sales Exec

CO-based card manufacturer CPI Card Group has hired Bruce Bell as the Rocky Mountain Regional Sales Manager of Commercial Cards and Services. Bell brings more than 20 years of experience in the debit and prepaid card industry, with an impressive record of success in multiple payment card arenas. Throughout his career, he has excelled in client centric responsibilities, from Sales and Marketing to Customer Service and Operations management. CPI offers a single source for plastic cards from foil cards and holograms, to translucent and smart cards.

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PAPER CHALLENGE

The Desjardins Group has released the results of its “Paper Challenge”
and its “Eco-friendly Statement Challenge” initiatives. The success of
the initiatives demonstrate the “Eco-friendly Statement Challenge,” with
its goal of planting 100,000 trees between 2006 and 2009, has acquired
114,519 project members who will be planting 22,224 trees throughout
Quebec and Ontario. Meanwhile, the organization’s “Paper Challenge” is
focal on reducing printer and photocopier paper by 15% between 2005 and
2008, 21% within the Desjardins Group itself, to prevent 227 tons of
CO2-equivalent greenhouse gas emissions and save 3,435 trees. The
Desjardins Group cooperative financial group has overall assets of $144
billion, employs 40,000 associates and provides its 5.8 million
customers with financial products and services.

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CTFS OPTIONS

The “Options” MasterCard has awarded over $92 million to consumers in
Canadian Tire “Money” rewards. The Canadian Tire Financial “Options”
MasterCard loyalty program rewards consumers for purchases on up to
95,000 different products and is now available with MasterCard’s
“PayPass” capabilities. Moreover, Canadian Tire ‘Money’ can be earned at
24 million locations while the “Options” card has been issued to 3
million cardholders across Canada while the Canadian Tire Corporation
has 1,160 establishments throughout the country, manages nearly 4.6
million card and employing 57,000 associates.

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Chase Q1 Credit Card Profits Sink 20%

J.P. Morgan Chase reported that first quarter credit card profits declined 20% year-on-year to $609 million, but remained flat from the prior quarter. End-of-period managed loans of $151 billion increased by 3% year-on-year, but declined 4% from the fourth quarter. Charge volume of $85.4 billion increased by 5% from 1Q/07. Net accounts opened during the quarter were more than 3.4 million. Merchant processing volume of $182.4 billion increased 11% compared to the year-ago quarter. Managed net revenue was $3.9 billion, an increase of 6%, from the prior year. Net interest income was $3.2 billion, up 7% from 1Q/07. Chase says the increase in net interest income was driven by wider loan spreads, an increased level of fees and higher average managed loan balances. The managed provision for credit losses was $1.7 billion, an increase of $441 million, or 36%, from the prior year, due to a higher level of charge-offs and an $85 million prior-year release of the allowance for loan losses. The managed net charge-off rate for the quarter was 4.37%, up from 3.57% in the prior year and 3.89% in the prior quarter. The 30-day managed delinquency rate was 3.66%, up from 3.07% in the prior year and 3.48% in the prior quarter. For complete details on Chase’s first quarter performance, visit CardData ([www.carddata.com][1]).

JPM CHASE HISTORICAL ($billions)
1Q/07 2Q/07 3Q/07 4Q/07 1Q/08
EOP Outstandings: $146.6 148.0 149.1 157.1 150.9
Charge Volume: $ 81.3 88.0 89.8 95.5 85.4
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

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Hypercom Intros Mobile POS Solution Suite

Hypercom rolled-out a set of products and services that support the entire mobile POS payment infrastructure. The new “Mobile POS Solution Suite” includes Hypercom’s GPRS mobile payment terminals, “Gateway” and the “Hypercom Mobile Network.” Merchants can choose between the “Optimum T4230,” the “Optimum M4100” (Blade) and the new “Optimum M4230” terminals. Hypercom’s global GPRS network, specifically designed to securely deliver mobile POS transactions, provides coverage on more than 200 GRPS networks in more than 90 countries. Hypercom’s “Gateway” offers a complete suite of management tools for deploying, servicing and managing merchant accounts and is Class “B” certified with several leading US-based payment processors.

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Edgar Dunn Hires a New Americas Director

Payments consultant Edgar, Dunn & Company has hired Ann Schmitt as a Director and will focus on the Americas payment marketplace. Schmitt’s 25 years experience in financial services and payments most recently includes roles as President and CEO of two private equity-backed financial services companies where she led turnarounds, including assessing and re-positioning loan portfolios and under-performing units. From 1998-2002, Schmitt was a Director at Dove Consulting where she served as a consultant to leading banks, card associations, investment banks, merchants, and payment processors.

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PCI Council Presents PA-DSS Version 1.1

At the recent Electronic Transactions Association Annual Meeting and Expo, the PCI Security Standards Council has unveiled the version 1.1 of the Payment Application Data Security Standard (PA-DSS). PA-DSS has been designed to aid software vendors in developing secure payment applications that do not store prohibited data, ensure application compliance with PCI DSS and apply requirements to payment applications sold, distributed or licensed to third parties. Moreover, the Council also announced it will be approving companies with PA-QSA certification for recognition in having met PA-DSS assessments in accordance with the PA-DSS Security Audit Procedures. PCI Security Standards Council was established by American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc to enhance payment account security through awareness of the PCI Data Security Standard.

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Cash Advance Providers Create the NAMAA

The North American Merchant Advance Association has been created to represent the business interests of merchant cash advance providers. The merchant cash advance industry provides working capital to small and mid-sized businesses in need of financing for reasons such as the purchase of new equipment or inventory, expansion or remodeling, payoff of debt or taxes, or emergency funding. Merchant cash advances are typically unsecured, and not personally guaranteed except in cases of fraud. The cash advance transaction is structured as a purchase of a future receivable at a discount, and is not a loan or a secured transaction. NAMAA’s members will have the opportunity to share industry education and professional development, ethical standards and best practices guidelines, the development of industry relevant products and services, and the engagement in regulatory and legislative advocacy. NAMAA is a not-for-profit trade association representing organizations in the United States and Canada that are in the business of providing working capital advance products based on credit, debit or other card and electronic payment-related revenue streams to small and mid-sized businesses.

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NOVA Information Systems Becomes Elavon

U.S. Bancorp’s NOVA Information Systems and its affiliate merchant acquiring brands including First Horizon Merchant Services and euroConex have become Elavon. Elavon has profited from the investments made by U.S. Bancorp, which have fuelled expansion which include strategic acquisitions include the Citibank Card Acceptance business in Europe, FHMS and most recently Southern DataComm. Elavon’s development of an international processing platform that consolidates multiple front-end authorization and back-end settlement systems onto a single network .Elavon is also positioned to respond to the expanding needs of merchants in multiple segments including retail, hospitality, health care, education, and the public sector. End-to-end processing control and the delivery of strategic solutions including electronic check conversion, health care claims eligibility processing, and convenience fee processing.

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