BMW and GE Money Ink a Deal

BMW of North America and GE Money have signed an exclusive relationship that brings the GE Motor Club roadside assistance program to BMW and MINI owners in the U.S. The GE Motor Club will actively support the value of the BMW and MINI Mobile Assistance Program. This program provides BMW and MINI owners with factory-trained technicians and branded roadside-equipped vehicles standing by for on-site assistance with most light duty services. The Partnership Marketing Group administers the GE Motor Club program.

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Postilion Signs NC-Based Premier FCU

CU Business Capital and Postilion have signed Premier FCU based in Greensboro, NC as a new credit union client. Premier Federal Credit Union is leveraging the marketing relationship established last year between CU Business Capital and Postilion to deploy online member business services. Postilion and CU Business Capital together provide a business services program to help credit unions expand membership and asset growth with solutions like Postilion’s Online Member Business Services solution and CUBC’s remote deposit capture. CUBC is a national CUSO offering business lending, business deposits, cash management, remote capture, merchant services, business debit, credit card, training, and consulting. Postilion, a division of S1 Corporation , is a provider of integrated solutions for self-service banking and payment processing.

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SOUTHEAST ASIA CROSS BORDER FRAUD

Mobiclear identity protection has signed agreements to sponsor the
“Southeast Asian Cross Border Fraud Convention”, which will be held on
February 29th-March 1st. Additionally the convention will host the 14
member banks of the Credit Card Association of the Philippines
(CCAP), providing what Mobiclear sees as an opportunity to introduce
banking products in the region, to which the organization hopes to
eventually contribute transaction security. Moreover, the MobiClear
provides anti-fraud identity solutions around the world, which the payment
security provider estimates a growth of $20 billion per annum.

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GCA to Acquire Certegy Gaming Services

Global Cash Access has signed a deal to acquire Certegy Gaming Services from Fidelity National Transaction Services. GCA will acquire all of CGS’ issued shares of stock for a purchase price of $25 million, and CGS will become a wholly owned GCA subsidiary. In addition, GCA will replace CGS’ cash currently held in CGS’ ATM machines and cages located at its customer premises. GCA will gain approximately 100 new employees as a result of the acquisition. CGS provides cash access services to approximately 130 gaming properties in the U.S. and the Caribbean. Goldman, Sachs & Co. acted as financial advisor to GCA and Morrison & Foerster LLP acted as legal advisor to GCA.

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Credit Card Issuers Must Dig Into Segments

A new report suggests that the existing models and metrics do not prepare issuers for the credit crisis that followed in the wake of the subprime mortgage collapse. To remain successful, TowerGroup believes, card issuers must look deeply into each segment of their portfolios and react more quickly to the fast-changing environment. The new TowerGroup research report, titled “Process and Data Risks in a Changing Economy: How Credit Card Issuers Can Protect Their Portfolios,” five core challenges to the credit cycle: Changing Purchasing Habits; Changing Payment Patterns; New Tests for Risk Models; Redefinition of a “Good” Customer; and “Wild Card” Vulnerabilities.

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Americans Worry About Non-Mortgage Debt

A new survey shows that 61% of Americans carry non-mortgage debt. The poll by Bankrate found that while 91% believe debt can be controlled by disciplined saving and spending, 72% also believe that debt is a part of modern life and difficult to avoid. About 75% of those with annual incomes of at least $75,000 regularly carry debt month-to month as opposed to only 36% of those with annual incomes under $20,000. Bankrate says men worry less than women about the debt they carry (40% vs. 30%) The national random-digit-dialed phone study of 1,014 adults 18 or older was conducted for Bankrate by GfK Roper Public Affairs & Media.

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YUCHENG EXEC

In conjunction with the Company’s recent influx of POS terminal deployment
from 20,000 to 25,000, Yucheng Technologies Ltd has appointed Remington
Hu as its new CEO. Aside from the decision to deploy a greater number of
POS terminals, which were at 8,900 at the end of 2007, the Yucheng board
has elected to appoint Hu based on his previous experience and education.
Included in his experience, Remington was a venture capitalist Chief
Representative/PRC for CVM Capital Partners LLC and was the CFO of the
Wholesale and Retail Business Group for Yue Yuen Industrial Holdings
Limited. Remington’s advanced education includes an MBA degree in Finance
from the Wharton School of Business, University of Pennsylvania, and a BS
degree in Computer Science and Information Engineering from National Chiao
Tung University in Taiwan. Yucheng Technologies Limited (YTEC) has over
1,700 employees, serving banking clients nationwide through its offices
in 11
different cities.

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AmEx and AAA Sign an Exclusive Agreement

AAA has agreed to exclusively endorse American Express Travelers Cheques, which are now available at participating AAA and Canadian Automobile Association offices in the United States and Canada. American Express recommends travelers carry Travelers Cheques as part of a diversified “travel wallet” that includes local currency, credit and charge cards, and a prepaid travel money product. In addition to travelers checks, participating AAA clubs offices also will offer American Express Gift Cards.

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CHECK FRAUD

With check use fast-diminishing, from 1.8 billion in 1997 to 890 million
in 2007, merchants and retailers may become more negligent to ensuring
against check fraud. Moreover, C&CCC research shows that over 50%
of UK account holders are concerned with receiving checks and nearly
25% don’t like to write checks citing the risk of fraud. Given this
information, The Cheque and Credit Clearing Company (C&CCC) and
APACS have teamed to provide consumers with advice on how to protect
their accounts from check fraud through the provision of an advice guide.
The guide provides consumers with such advice as correctly dating a
check, drawing lines through unused space and to avoid accepting checks
from strangers.

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GCA Pulls the Plug on the Arriva Card

Launched in May 2006, Global Cash Access is pulling the plug on its private label credit card for the gaming environment. As part of its strategy of focusing on its core electronic payments business, GCA will discontinue offering the “Arriva Card.” The card offered credit limits up to $50,000 via GCA ATMs. The Company says it is currently studying a range of strategic options for the “Arriva Card” portfolio. GCA noted that even though it believes it has effective credit quality safeguards in place, it is the Company’s view that, in this environment, no consumer credit product will be immune to losses. GCA’s core electronic payments business involves supplying approximately 1,000 casinos and other gaming properties worldwide. (CF Library 5/8/06)

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JET AIRWAYS, TATA & SBI CARDS

Jet Airways’ “JetPrivilege” flyer program has signed agreements for the
conversion of points-to-airmiles with Tata and SBI cards. With these
agreements, both Tata and SBI credit cardholders, who are “JetPrivilege”
members as well, can convert card points to JPMiles, with their “Empower”
and “Platinum Card”, “SBI Gold Card” and “SBI International/Domestic”
cards, respectively. This development is part of a recent Jet Airways
initiative to provide members with a more extensive list of opportunities
for earning “JPMiles”. With this airmiles program, travelers can redeem
points for free flights to destinations around the world.

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KOGNITO WX2

The Loyalty Management Group (LMG) has deployed Kognito’s “WX2”
analytical Relational Database Management System (RDBMS), which will
provide customer data analytics and insight. Moreover, the Kognito
solution will provide users with insight on customer purchasing patterns
for the subsequent development of promotions for specific consumer
groups. LMG, specifically, will be able to provide its largest client with
analytical dashboards for the analysis of data and is reportedly using the
RDBMS as a virtual data warehouse for distributed virtual appliances,
5TB for analytics, 2TB for testing and 1TB for business data
continuity/disaster. LMG develops, owns and manages retail-based customer
reward programs and employs nearly 250.

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