NYC TLC to Monitor Taxi Card Acveptance

The New York City Taxi and Limousine Commission has launched an undercover initiative to measure the compliance of medallion taxicab drivers for accepting credit cards. Drivers who refuse to accept a passenger’s credit card will face a fine between $150 and $350. Drivers will also be fined for using telephone while operating a taxicab and face a $150 fine if they are not courteous to passengers. Effective October 1st, upon their next scheduled inspection all New York taxis were mandated to have technology-based customer service improvements that will include credit/debit card acceptance and an interactive electronic passenger map and information screen. The TLC is the agency responsible for the regulation and licensing of almost 200,000 yellow medallion taxicabs and for-hire vehicles, their drivers, and the businesses that operate and support their industries.

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MASTERCARD BOARD

MasterCard has elected two new Board members. Jose Octavio Reyes Lagunes joins the MasterCard board as a “Class A” director. He is President, Latin America Group at The Coca-Cola Company. Silvio Barzi, also joins the MasterCard board as a “Class M” director. He is the EVP of UniCredit Group, Head of New Markets, and founder and Chairman of UniCredit Consumer Finance, a bank specializing in credit cards and consumer credit. With these appointments the MasterCard Board of Directors includes a full complement of nine “Class A” directors and three directors representing the financial institutions that own MasterCard “Class M” shares. Richard Haythornthwaite, a partner of UK-based Star Capital Partners, serves as non-executive chairman of the board.

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QNB & OLYMPICS

The Qatar National Bank has launched its VISA cardholder promotion,
“Spend & Win a Trip to the Beijing Olympic Games 2008”. With this
promotion, from now until May 31, 2008, the bank will give 6 of its
VISA credit card customers a trip for 2 to the Beijing Olympic Games,
including airline and accommodation. When cardholders conduct
purchases of QR350 and above, they are automatically entered into
the contest, and double their chances with six or more transactions
of QR350 and above throughout a 1-month period.

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IBC Bank Moves 450K Debit Cards to VISA

IBC and VISA have entered into a partnership agreement to convert the IBC portfolio to VISA-branded products. Under terms of the deal, IBC Bank will offer its customers the full range of VISA consumer debit products – VISA check card, Interlink and Plus. IBC Bank also has agreed to switch its processing services to VISA Debit Processing Service (DPS) for all Visa check card, Interlink and Plus transactions. The companies anticipate IBC Bank will begin converting to VISA’s Debit Processing Service and reissue the bank’s portfolio of debit products later this year.

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Northern Trust Joins the MoneyPass Network

Northern Trust has signed an agreement with MoneyPass to become a member of the surcharge-free ATM network, giving cardholders access to more than 12,000 additional ATMs nationwide. Northern Trust had assets under custody of US$4.1 trillion, and assets under investment management of US$761.4 billion. MoneyPass is a network of Elan Financial Services, a provider of comprehensive ATM and debit card processing solutions for financial institutions, Independent Sales Organizations and retailers.

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Discover Offers Bank Products Through AAA

AAA has entered into a partnership with Discover Bank to offer financial tools to AAA’s 51 million members. Through AAA, Discover Bank will offer money market accounts, IRAs and certificates of deposit. AAA members from participating clubs will benefit from exclusive member-only rates with no minimum opening deposit required.Discover Bank is one of the 100 largest banks in the United States and an affiliate of Discover Financial Services.

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Metavante’s PSG 4Q/07 Revenue Rises 5%

Milwaukee-based Metavante Technologies reported fourth quarter revenue of $408.2 million, up 6% from 4Q/06. The Company says the growth was driven by higher volumes in core processing activity and payment transactions, plus acquisitions added approximately 2 points to the growth rate. The net loss for the quarter was $92.8 million including non-cash impairment charges, net transaction-related costs, and incremental interest expense. The Company completed its separation from Marshall & Ilsley on November 1st and is reporting results for the first time as a separately traded public company. Metavante’s Payment Solutions Group posted fourth quarter revenue of $245.8 million, an increase of 5% over 4Q/06. Segment operating income in the fourth quarter was $71.3 million, flat with the fourth quarter of 2006. Metavante recently announced the acquisition of two businesses that will become part of PSG: Nomad Payments Limited and BenSoft Incorporated, known in the market as RepayMe. For complete details on Metavante’s fourth quarter and full years results visit CardData (www.carddata.com).

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MasterCard to Sponsor Chicago Fashion Week

MasterCard has become an official sponsor of Chicago Fashion Week slated for April and September of this year . MasterCard wil give local fashion students the opportunity to be involved in the city’s most prestigious fashion event, giving them unparalleled visibility in the fashion community. The one day event, “The New Generation,” will introduce the talent of Chicago’s own top fashion students emerging out of colleges throughout Illinois. Chicago Fashion Week will showcase established as well as rising designers from national and international markets through on-site and off-site events with private and public fashion runways. These shows will take place throughout distinctive venues in the city.

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PPI Hires a New CFO

Payment Processing has hired Jim Condon, formerly with CyberCash, as CFO. As CFO, Condon will oversee financial operations at PPI by focusing on capital structure, budgeting, financial reporting, and communication with the investor community. Prior to PPI, Jim was chief operating officer (COO) and CFO of GetWellNetwork, Inc., a provider of interactive patient care solutions. Before GetWellNetwork, Inc., Jim held executive management positions at EduCap Inc., a major provider of student loan solutions; SecureMethods, a technology-advantaged network security company; and CyberCash, the first publicly traded Internet payments company. PPI provides software developers with a full range of services for integrating electronic credit and debit card payments, including gateway services, integration support, merchant support services and PABP/PCI security assistance.

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SKYWARDS DEBIT CARD

In response to the popularity of debit card use, which outweigh the number
of issued credit cards by 77% according to VISA, Citibank has teamed
with Emirates Airline to provide the “Skywards” rewards program for its
debit card customers. The “Emirates-Citibank Debit Card” provides ATM
card functionality with frequent-flyer reward benefits, such as
discounts and
promotions, that ensures against fraud. Currently, the “Skywards” program
provides over 3 million customers with “Skywards Miles” on every flight
with Emirates Airlines and its partner airlines, when patronizing partner-
hotels and partner-auto rental organizations. Citi has more than 170
million cards in circulation around the world, has had Mid-East
operations for nearly 50 years and oversees more than 200 million
customer accounts.

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IDENTRUST NETWORK

HSBC Bank has joined the IdenTrust Network for the generation of
a corporate customer identity solution. This will allow users to digitally
sign documents with secure, legally binding authorizations over the
IdenTrust authentication network available at all branches. The
organizations
are also collaborating for the streamlining of bank accounts, management
processes and trade finance services. HSBC Holdings serves over 125
million customers around the world from nearly 10,000 offices in 83
countries with total assets of around US$2,150 billion while IdenTrust
provides identity solutions in various sectors across more than 175
countries.

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