IdeaEdge Gift Cards Lands a New CFO

San Diego-based gift card specialist IdeaEdge has hired Jonathan Shultz as CFO. Shultz has more than 20 years of diversified business and financial management experience spanning both Big 4 public accounting and private industry. He began his career as an auditor and computer specialist with Ernst & Young, serving seven years in the firm’s San Diego office. Subsequent to his tenure with Ernst & Young, Shultz served as vice president of finance and CFO for several public and private sector companies, with responsibilities for finance and accounting, IT, HR, and legal affairs. IdeaEdge develops innovative gift card programs based on high-equity entertainment brands and has obtained commitments for gift card distribution with grocery, drug, and specialty chains comprising over 10,000 retail outlets.

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CARD TRANSACTIONS

According to the Bank of Korea, credit card transactions are currently
skyrocketing while cash advances are adversely plummeting. The bank’s
statistics show that over 11 million card transactions are conducted daily
and has increased by 12.7% during 3Q07 while card spending rose
7.9%. Meanwhile, the number of cash advances fell
7.6 % during the same period, in comparison to the 3Q06 decline of 2.4%. The first 3 quarters of 2007 saw a total of W63.7 trillion in cash advances, despite the dwindling frequency of this type of transaction. However, this figure pales in comparison to the credit card cash advances in 2002 of W357.47. At this rate, the total volume of advances is expected to drop to W85 trillion by 2008.

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Metavante/Monitise U.S. JV Goes Live

The joint venture between Metavante and the U.K.’s Monitise has produced the launch of mobile financial services in the USA. Monitise Americas is fully integrated into the Metavante’s “NYCE Payments Network.” Initial launch partners include Harvard Employees CU, North Jersey Community Bank, Sutton Bank and Sutton Bank’s Greenlink Payment division. Monitise has deployed its technology in the U.K. with the “MONILINK” mobile banking and payments network. With an agreement in place with seven of Britain’s largest banks and dedicated secure connections into all of the country’s cellular operators, “MONILINK” is currently available to over one in three of all adult U.K. banking customers. Current partners of MONILINK include: HSBC, first direct, Alliance & Leicester, Royal Bank of Scotland, NatWest, Vodafone, Orange, O2, T-Mobile and Hutchison 3G.

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GLOBALPLATFORM BOARD

GlobalPlatform has announced its 6 new Board of Directors and Board Officers for FY 2007-2008. Among those elected is Bob Beer, VP for
Datacard Group; Yves Moulart, Director at STMicroelectronics; Marc Birkner, Gemalto Development Director; Dr. Toni Merschen, Group Head for MasterCard Worldwide; Carmen Carnero Silvo, SERMEPA manager and Sebastian Hans, the manager for Sun
Microsystems. GlobalPlatform is a member driven association with cross-industry representation from around the world
and has accomplished numerous marketing advances with its smart card infrastructure.

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Wynn Vegas Vacation Earns a $200 MasterCard

US Airways Vacations is offering a $200 MasterCard gift card for passengers who book a three night or more vacation package at Wynn Las Vegas through December 31st. Wynn Las Vegas is the only casino resort in the world with both the Mobil Five-Star and AAA Five-Diamond ratings. US Airways, US Airways Shuttle and US Airways Express operate approximately 3,800 flights per day.

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DELTA AIRLINES & GUESTLOGIX

Delta Airlines has implemented the GuestLogix “Mobile Virtual Store”
for its flight passengers, representing service on nearly 125 million
annual flights. With this development, the solution is made available in
addition to the already 400 million flights that offer the “Mobile Virtual
Store” annually and provides a profitable retail solution. In providing
this new revenue stream, GuestLogix implements retail supply
subsequent only to on-board retail demand and is currently realizing
multi-millions of dollars in annual sales. Furthermore, experts project
that 20% of total airline profits will be generated by on-board sales such
as these in the near future. Delta Air Lines provides flights to 315
destinations in 54 countries, 36 trans-Atlantic markets and allows
passengers to redeem SkyMiles on nearly 15,000 flights.

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NPC Expands Distribution of Orion Terminal

KY-based National Processing Company is expanding its use of the “Orion” all-in-one payment terminal by 4Access Communications, now offering the Orion through its NPC unit . Orion is a comprehensive payment processing terminal that reads and images checks, and has applications for handling credit, gift, and loyalty cards. Orion’s recognition technology integrates MICR with optical character recognition in real-time to produce the most accurate check read possible. It securely transfers the check images to the 4Access Archive and Retrieval System via IP or dial access. 4Access also provides a Web-hosted Configuration Server to manage Orion terminal configurations. NPC is a provider of payment processing services exclusively focused on small and medium sized merchants in the United States, and the leading merchant acquirer focused on the ISO segment. 4Access Communications,is a provider of point-of-transaction software and hardware

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GEMALTO & REDEBAN MULTICOLOR

Gemalto digital security and Redeban Multicolor have launched its
mobile banking solution for Colombian mobile subscribers. The newly
introduced solution allows these subscribers to perform everyday
banking transactions, including money transfers, checking balances and
paying bills. The service is made available to nearly 20 million consumers
through Colombian GSM operators, such as Comcel, with Bancolombia
and Banco AVVillas. Projections foresee 20% of this customer base to
perform nearly 5 transactions monthly. Gemalto had a 2006 revenue of
EUR1.7 billion with over 85 offices in 40 countries and employs nearly
10,000.

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Chase to Migrate to No-Envelope ATMs

Chase is deploying 900 no-envelope ATMs that can accept up to 30 checks per deposit in the first half of 2008 as part of its plan to upgrade or replace 5,000 deposit-taking ATMs by 2010. In the rollout’s first phase, Chase will deploy 600 multi-check ATMs from Wincor Nixdorf. Wincor Nixdorf, which has pioneered ATMs to handle stacks of checks, will also provide software for each of Chase’s 9,000 ATMs in 20 states. Chase also will install multi-check ATMs from NCR, Chase’s primary supplier, which also will provide the back-office software to process check images. In addition, Chase and NCR have joined forces to develop a next-generation ATM Monitoring platform. Customers can insert a stack of up to 30 checks or 50 bills of U.S. currency in the new ATMs without an envelope or deposit slip. The ATMs rapidly calculate the deposit and display images of the checks on both the screen and printed receipt, typically in less than 60 seconds.

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GIFT CARD SURVEY

Givex has released its National Gift Card Survey, conducted by SES
Research, showing re-loadable gift cards to be the most popular among
gift-givers for the approaching holiday season. Additional findings
show that 55% of Canadian consumers spend more than the value of the
card, 76% either give or receive gift cards for special occasions, 71%
like the concept for its convenience while 52% favor its flexibility.
Furthermore, 81% of woman have used gift cards at one point or another
while 10% of Canadians feel that the gift idea is too impersonal. Givex
processes closed loop card transactions across North America and
Europe.

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Asset Acceptance to Ring NASDAQ’s Bell Today

MI-based Asset Acceptance Capital will preside over today’s closing bell of the NASDAQ Stock Market. CEO Brad Bradley will be joined by Mark Redman, Senior Vice President-Finance and CFO; Rion Needs, Senior Vice President and Chief Operating Officer; Deborah Everly, Senior Vice President and Chief Acquisitions Officer; and other members of Asset Acceptance’s executive management team. Asset Acceptance provides credit originators, such as credit card issuers, consumer finance companies, retail merchants, utilities and others an alternative in recovering defaulted consumer debt.

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BANK KERJASAMA ISLAMIC CARD

Bank Kerjasama Rakyat Malaysia Bhd is set to roll-out its Islamic
Credit Card for early 2008 and is projecting a resulting significant
growth in customer base, according to The Edge Daily. This growth in the
customer base is
projected to reach 50,000 new cardholders by 2009, which would
generate over RM1million in new profits, and 1million new users by
2013. Furthermore, Bank Rakyat expects to gain a 15% annual share
in Islamic banking assets over its current 20% annual share. The bank
currently has a 2% share of the country’s total banking assets.

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