FASTEST & ATMULATOR PLUS

Paragon Application Systems has provided the licensing of its “FASTest”
and “ATMulator Plus” ATM software to GRG Banking ATM
manufacturer for the developing and testing of new features. GRG
Banking provides technological advancements over a service network
for the Chinese ATM market and, with these recent developments, the
Paragon software will allow for international expansion to assist testing
of an integrated chip card and application offerings, along with software
expansion. Paragon Application Systems provides ePayment software
tools for over 400 financial institutions in more than 80 countries while
GRG Banking Equipment Company Chinese ATM manufacturer
employing over 1500 and is a co-operation partner of DeLaRue and
Hitachi.

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CRYPTOMATHIC EXPANSION

Cryptomathic security solutions has opened offices in Montreal, Canada,
to support North American consumers and mark the
Organization’s global expansion. Recently appointed Boris Schumperli
will oversee the Canadian operations, bringing with him consulting
experience
in the smart card security industry, which was established in response
to high
demand for security solutions in the banking sector throughout the
significant
region, namely in EMV data preparation solution demand. Cryptomathic
security solutions provider has over 20 years’ experience assisting
companies
in various sectors around the world.

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OBERTHUR & XPONCARD

Oberthur Technologies has propositioned XPonCard shareholders for
the acquisition of the respective organization’s stock at SEK 157 per
share, 34% higher than the price on February 18 , 2008 and an offer
of which the board of directors is recommending acceptance. Upon
acceptance of the offer, expected to close between March 12 and April
4th of 2008, the total value of the transaction is projected to reach SEK
704 million. With this development, Oberthur and XPonCard project
smart card sales of nearly EUR 735 million and XPonCard will be more
able to compete in a fast globalizing market with access to Oberthur’s
product portfolio and will be afforded production cost savings. Moreover,
the offer price is subject to adjustments, XPonCard provides card concepts
for secure payment through its sales offices in 16 countries while Oberthur
had sales of EUR 733.4 million in 2007, providing secure technologies in
various sectors.

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Ceridian Promotes Sheridan to EVP

MN-based Ceridian has promoted Michael Sheridan to EVP, general counsel and secretary. Sheridan was formerly general counsel of Comdata and its subsidiaries, including Stored Value Solutions, for the past 11 years. Sheridan also served as Comdata’s associate general counsel from 1991 to June 1996. Sheridan holds a B.A. from Vanderbilt University and received his J.D. from the University of Tennessee College of Law.

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RELIANCE MPAY

Reliance Communications and HDFC Bank have partnered to launch
the “Reliance mPay” virtual credit card, offering no physical plastic
card to Reliance mobile phone users and HDFC Bank credit card
users. The virtual card will be accepted with all merchants that
currently accept payment via Reliance mPay, will authenticate payments
using “RCom” and will issue accounts with no card number, Card
Verification Value (CVV) or Expiry Date. Moreover, the new service
will offer Reliance Mobile “Post paid bill payment”, “Pre-paid top-up,”
and payment of “Reliance Energy” monthly bills. Housing Development
Finance Corporation (HDFC) housing finance bank serves over 10 million
customers throughout India with its 754 branches, its 1,906 ATMs and
reported a 1H07 37.3% surge in net profits to Rs.687.7 crores. Reliance
Mobile World has implemented over 2500 useful applications, over
200,000 content titles and is a subsidiary of Reliance Communications
which has a market capitalization of over Rs.300,000 crore.

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ACI Fourth Quarter Revenue Up 9%

ACI reported fourth quarter revenue of $101.3 million, an increase of 9% over the prior-year period. The increase was largely attributable to an increase of $5.1 million in license fees received; of which 80% originated in the United Kingdom and Scandinavia with the remainder in the United States. The remaining $2.9 million in revenue increase on a year-over-year quarterly basis was derived primarily from maintenance revenue growth. The Company reported a net loss of $2.0 million for the quarter compared to net income of $2.6 million during the same period last year. During the quarter ACI signed-up 17 new customers for 37 products. For complete details on ACI’s latest performance visit CardData (www.carddata.com).

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4Go SecureSuite Avoids PCI DSS Headaches

Shift4 says that merchants concerned about “PCI DSS” compliance can use its “4Go SecureSuite” to avoid its burdensome requirements. 4Go SecureSuite removes credit card information at the point-of-sale device, replacing it with a unique “token” that substitutes for the PAN throughout the entire transaction process, which is useless, however, to anyone outside the system. Useable credit card information is never retained in the POS device or the merchant’s system, so even if there is a breach, nothing is exposed to theft or loss. Shift4 is a developer of secure financial transaction processing software and services, provides web-based, real-time enterprise payment solutions for the hospitality, retail, foodservices, auto rental and e-commerce markets.

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TNB Signs People’s Federal Credit Union

TNB Card Services has acquired the card processing of TX-based Peoples Federal Credit Union. The People’s FCU has more than 15,000 members and $85 million in assets. It is a multi-SEG credit union whose primary sponsor is a government military facility. TNB Card Services provides electronic payments processing, as well as an agent issuing solution for credit unions nationwide.

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Encore Capital Q4 Revenues Decline 14%

San Diego-based Encore Capital reports fourth quarter net income of $4.8 million, compared to net income of $6.6 million for 4Q/06. Revenues from receivable portfolios were $55.8 million, a 14% decrease over the $64.9 million in the same period of the prior year. Revenues from bankruptcy servicing were $2.9 million, compared to $3.2 million for 4Q/06. Investments in receivable portfolios were $74.6 million to purchase $1.8 billion in face value of debt, compared to $63.6 million to purchase $1.4 billion in face value of debt in the same period of the prior year. For complete details on Encore Capital’s latest results visit CardData ([www.carddata.com][1]).

ENCORE CAPITAL REVENUES
4Q/06: $65.0 million
1Q/07: $62.2 million
2Q/07: $64.0 million
3Q/07: $59.4 million
4Q/07: $55.8 million
Source: CardData (www.carddata.com)

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

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U.S. Bank Renews its VISA Partnership

U.S. Bank has renewed its multi-year partnership agreement with VISA. Under terms of the deal, U.S. Bank will continue to issue VISA-branded credit products, including “VISA Signature.” The agreement also covers the issuance of VISA debit, prepaid and commercial products across the USA. U.S. Bank recently reported that its fourth quarter average credit card loans were up more than 7% year-on-year to $10.6 billion. The issuer has about 5.5 million credit card accounts according to CardData (www.carddata.com).

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Arrest Warrant Issued for a Processor

The U.S. District Court for the Middle District of Florida has issued a warrant for the arrest of a payment processor. The court found Ira Rubin in contempt for multiple violations of a 2006 TRO and a 2007 PI, stopping his cross-border payment-processing scheme. On January 15th, the court ordered Rubin to appear personally and show cause why he should not be held in contempt by continuing to engage in payment processing, misappropriating over $500,000 in receivership assets, concealing $95,000 in credit card charges from the Commission, lying on his sworn financial statement, and hiding 13 boxes of corporate records. Rubin failed to appear for the hearing. According to the FTC, Rubin operated Global Marketing Group which provided substantial support and assistance to at least nine Canadian telemarketing firms that sell non-existent credit cards to U.S. consumers.

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