MONTISE EXEC

Montise mobile banking and payment technology has appointed Ron
Drakeas as the VP of Business Development, bringing with him over
20 years’ experience in financial services. In his newly-appointed role,
Ron will oversee the development of the Company’s SEPA strategy
and lead electronic payment provider relationships. Drakeas’ 13-year
career as Managing Director of eFunds International, succeeding
managing director positions with Cincom Systems Ltd and Platinum
Financials respectively, has afforded the new VP well-established relations with
European retail banks and processors. Montise services span UK and
US territories with its “MONILINK” and Monitise networks in
partnership with VocaLink and Metavante Corporation, providing
secure mobile banking & payment services.

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Target Nears a Deal on its Card Portfolio

Target reported it is currently in negotiations with an investment partner to sell an undivided interest in approximately half of Target’s credit card receivables for about $4 billion. Target reported that its pre-tax credit card profits for the quarter ending February 2nd increased 12% over the year-ago quarter. Credit card outstandings for the quarter increased 28% year-on-year, topping $8.62 billion. Target says Target’s fourth calendar quarter pre-tax credit card profits were $137 million, compared to $157 million in the prior quarter and $122 million one-year ago. Target reported that its total credit card receivables, which include its VISA and “Guest” cards, were $8.624 billion as of February 2nd, compared to $7.652 billion for 3Q/07 and $6.711 billion one-year ago. Delinquency (60 days+) for 4Q/07 increased to 4.0%, compared to 3.8% in the previous quarter and 3.5% one-year ago. Charge-offs, as a percentage of period-end receivables, decreased to 6.4% for 4Q/07, compared to 7.0% in the prior quarter, but up from 6.1% one-year ago. During the third quarter Target announced it began reviewing potential ownership alternatives for its credit card business. For complete details on Target’s latest performance, visit CardData ([www.carddata.com][1]). (CF Library 2/27/08)

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

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RSA ENVISION

Flybe Airlines has deployed RSA’s PCI DSS compliance tool, “enVision”,
affording the Organization resources needed to meet guidelines for
protecting consumer data and to track access to network resources. The
“enVision” solution also allows Flybe to monitor activity automatically,
generate network activity reports automatically, is expected to safeguard
the Airline’s more than 20 million website visitors(85% of the Airline’s
travel
reservations are made online), and will provide added security to Flybe’s
more than 2,000 devices connected to its databases with efficient
troubleshooting. Flybe European regional airline provides air travel on 162
routes from 53 departure points and was recently awarded as the “Best
Management Team 2007”.

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Consumer Spending Index Heads South Again

As economic conditions trend downward, consumer purchasing appears to be at an important turning point, the Deloitte Research “Leading Index of Consumer Spending” has found. The index comprises four components — tax burden, initial unemployment claims, real wages and real home prices — that fell in January 2008 to 1.47% from a revised gain of 1.91% a month ago. This was the fourth consecutive fall in the index after September 2007.

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POLI SERVICE DISTRIBUTION

NETELLER and Centricom Ltd have signed agreements to jointly establish
“Centricom Europe” for the distribution of “POLi payment services”. “POLi
affords users a secure online payment method without being required to
disclose personal credit card information, extends online service/retail
access
to the under-banked and reduces the risk of fraud to both merchants and
customers. The “POLi” service solution accounts for 23% of total online
payment transactions across Australia and is operated by Centricom Europe
while NETELLER operates in 160 countries, providing an online payment
service that transfers billions of dollars per annum.

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Bankruptcy Filings Rise Sharply in Feb 08

Consumer bankruptcy filings in February rose to 76,000 compared to 66,000 in the prior month. Chapter 13 filings made up about 46% of all consumer cases, down slightly from last month. According to data provided by the National Bankruptcy Research Center and Lindquist Consulting, consumer bankruptcies hit 66,400 in December compared to 69,000 in September and 61,000 in March. Cumulatively, the 2007 bankruptcy filings totaled 802,000, a 40.5% increase from 2006.

CONSUMER FILINGS
Feb 07: 55,000
Mar 07: 61,000
Apr 07: 62,000
May 07: 70,000
Jun 07: 69,000
Jul 07: 64,000
Aug 07: 75,000
Sep 07: 69,000
Oct 07: 72,000
Nov 07: 77,000
Dec 07: 74,000
Jan 08: 66,000
Feb 08: 77,000
Source: National Bankruptcy Research Center/Lindquist Consulting

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STREAMLINE ONLINE QVSDC

INSIDE Contactless has deployed the VISA-certified “Streamline Online
“VSDC” for compatibility with “payWave”, VISA’s contactless payment
solution and the “MicroPass 4003” contactless payment card processor. The
microprocessor supports the VISA Contactless “V2.0.2 AC v3 specification”,
various contactless bank cards, contactless payments with multiple
certified
cards, fob products and pre-paid cards for secure, flexible support.
INSIDE also provides the “MicroPass SDK” for loyalty programs, transit,
access and simple ID applications onto a single MicroPass contactless bank
payment card. MicroPass provides its processing platform for card
manufacturers and issuers in the U.S. market with over 35 million MicroPass-
powered bank cards while INSIDE Contactless provide contactless, fabless
semiconductors to over 25 bank card issuers and has offices in France,
Shanghai, Singapore, Poland, San Francisco, and Boston.

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KOREAN LEADING INDEX

According to the Conference Board, the leading index in Korea was
down .2% in January, .7% for February and currently stands at 177.1.
In conjunction with these findings, the organization also shows growth
rate having slowed to 1.3 % between July 2007 to January 2008 and a
declining coincident index in January of 2008 which fell 1.2% for an
annual rate decline of 2.4% between July of 2007 to January of 2008.
Positive contributors to the leading index included machinery orders and
the yield of government public bonds while negative factors included
contributors such as falling stock prices and lagging volumes of private
construction orders. The Conference Board was founded in 1916 and
provides a research network for business forecasts, economic analysis
and objective indicators to help executives.

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PayByCash to Offer ReputationManager

Payment provider PayByCash and iovation have partnered to help online businesses combat payment and credit card fraud. Under the partnership, PayByCash will offer iovation’s “ReputationManager” device reputation fraud management service as a part of its online payment services to protect online players of games and merchants from all forms of payment fraud. iovation’s device-based fraud management service identifies devices that have been used for fraud and abuse in the past and creates a web of association that exposes hidden device and account relationships that exist within a network and across the Internet. Subscribers sharing iovation’s “Device Reputation Authority” network of more than 30 million unique device reputations are better equipped to stop financial fraud or prevent devices from acquiring new credit cards using false or stolen information.

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eLUXURY to Offer Bill Me Later

Online boutique eLUXURY is now utilizing Bill Me Later’s online payment service. Bill Me Later is a payment service that allows consumers to make online purchases without a credit card. With Bill Me Later, eLUXURY.com can extend to its customers the additional convenience and flexibility of no payments for 90 days. eLUXURY.com is owned by Moët Hennessey Louis Vuitton (LVMH), the world’s leading luxury goods group. Bill Me Later’s payment solutions when shopping online, via phone and in-store are the first new payment methods since credit cards to be so broadly available within the United States.

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Emerging Credit Score Service Launched

Experian and MN-based predictive scoring solution provider eBureau have launched “Emerging Credit Score” to assist lenders in evaluating the creditworthiness of unbanked and underbanked consumers. “Emerging Credit Score” will rely on the aggregation of Experian’s traditional credit data and eBureau’s alternative consumer credit, payment and identity data. Using eBureau’s eScore technology, the score will evaluate the purchase and payment histories of consumers with little or no credit history, providing an increasingly granular view of the thin-file and no-file consumer segment. By scoring a higher percentage of consumers,” Emerging Credit Score” helps credit grantors grow their customer base by effectively qualifying more prospects within the underserved population.

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MAESTRO CARDS

MasterCard reported that usage of European “Maestro” debit cards for cross-border payments at retailers rose by 24% last year. In 2007, 42% of European “Maestro” debit card transactions were at merchant POS terminals, up from 37% in 2005. ATM cash withdrawals accounted for 58% of the transactions in 2007, down from 63% in 2005. Historically cardholders have tended to use their debit cards when on holiday in southern Europe. While “Maestro” debit card transactions by foreign cardholders in these traditional holiday countries has continued to increase in absolute terms, the overall share of transactions decreased relative to those conducted in both local border as well as global destinations.

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