Advanta’s Q3 Biz Card Outstandings Rise 34%

Business credit card specialist Advanta posted a 34% rise in managed outstandings during the third quarter to $6.21 billion. During the third quarter, the issuer opened more than 74,000 new business card accounts and ended the quarter with a record 1,294,273 gross accounts. Advanta’s Business Card unit earned net income of $22.1 million as compared to $22.2 million in the prior quarter. Transaction volume increased 16% to $3.6 billion during the third quarter. Charge-offs, on averaged managed receivables, increased from 3.48% in the second quarter to 3.87% for the third quarter and are higher than 3Q/06’s 3.41% figure. Over 30-day delinquencies on managed receivables rose 42 basis points to 3.15% from the prior quarter. Over 90-day delinquencies on managed receivables also rose by four basis points to 1.41%, compared to the second quarter of 2007. For complete details on Advanta’s third quarter performance, visit CardData ([www.carddata.com][1]).

ADVANTA’S CARD PORTFOLIO SNAPSHOT
Period Card Loans
3Q/06: $4.65 billion
4Q/06: $5.21 billion
1Q/07: $5.59 billion
2Q/07: $5.99 billion
3Q/07: $6.21 billion
Source: CardData (www.carddata.com)

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

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Citi’s International Card Q3 Revenues Up 88%

Citigroup reported that its international card business third quarter net income soared to a record $647 million. Revenues of $2.85 billion jumped 88%, primarily driven by higher purchase sales and average loans, up 37% and 52%, respectively, improved net interest margins, and a $729 million pre-tax gain on the sale of Redecard shares. Excluding the gain, revenues increased 40%. Credit card outstandings as of September 30th were $43.4 billion, up 54% year-on-year. Loan balances grew at a double-digit pace in Mexico, EMEA, Asia, and Latin America. The account base grew 16% year-on-year to 35.6 million compared to one-year ago. Purchase volume for the third quarter was $28.0 billion, a 37% increase year-on-year. Delinquency (90+ days) was dipped sequentially to 2.22%. Charge-offs were 5.62% compared to 4.22% in the prior quarter and 5.01% for the year ago quarter. For complete detail’s on Citigroup’s international cards performance, visit CardData ([www.carddata.com][1]).

CITI INTL CARDS – NET INCOME
3Q/06: $287 million
4Q/06: $231 million
1Q/07: $388 million
2Q/07: $351 million
3Q/07: $647 million
Source: CardData (www.carddata.com)

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

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PAYONEER & SEREBRA

Serebra Learning Corporation and Payoneer have partnered to launch
a prepaid, reloadable MasterCard, providing more payment options to
customers. The partnership with Payoneer allows Serebra Connect to
offer service providers the reloadable prepaid card to withdraw cash
from ATMs and make purchases. Additionally, because the solution will
be accepted globally, it is available in multi-currency while Payoneer
offers security features, in the event of a lost or stolen card and online
account access. Payoneer has tens of thousands of cards in circulation
and is funded through Greylock Partners and Crossbar Capital.

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TransFund$/TruckersB2B Partner for a Fuel Card

Trans Card’s TransFund$ has entered into a partnership with IN-based TruckersB2B as a fuel card processor for TruckerB2B fleets, and offer their TransFund$ card as a one-card solution to manage fuel, cash, checks, and be utilized as a payroll card. Through this partnership fleets of all sizes will also be eligible to earn rebates on their fuel purchases. The system architecture provides fleets with 24/7/365 customer service support, convenient online maintenance of accounts, cash flow and robust reporting. TransCard provides electronic transaction processing services, both domestically and internationally, that process over $960 million in electronic transactions annually. TruckersB2B is a business-to-business membership program that provides savings to thousands of small and medium-sized trucking companies and, to date, TruckersB2B Members have earned over $30 million in rebates.

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CUP EXPANSION

China UnionPay will be implementing its national electronic payment
network in the Chinese provinces of Xinjiang Uygur, Ningxia Hui,
Gansu and Qinghai by 2008 for the completion of its national network.
Additionally, UnionPay cards have recently been issued for acceptance
at ATMs and POS outlets in 27 countries. With these advances in card
transactions, UnionPay has issued 10.21 million credit cards throughout
China with its 189 domestic bank card issuers in 1H07 alone.

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Euronet Third Quarter Revenues Leap 52% Y/Y

KS-based Euronet Worldwide posted third quarter revenues of $246.3 million, compared to $161.7 million for 3Q/06. Ria Envia, the third-largest global money transfer company, drove the latest growth. Net income of $14.8 million, compared to $13.1 million for the third quarter 2006. “EFT Processing” posted revenues of $48.1 million, compared to $40.5 million for 3Q/06. Transactions processed were 156.5 million, compared to 119.1 million transactions in the same period last year. The EFT Segment completed the quarter with 10,516 ATMs owned or operated. “Prepaid Processing” reported revenues of $144.6 million, compared to $120.3 million for the third quarter of last year. Transactions processed were 162.5 million, compared to 121.8 million transactions in the third quarter 2006. The “Money Transfer” segment reported third quarter revenues of $53.6 million, compared to $0.9 million for the third quarter 2006. Transactions processed were 4.0 million, compared to 0.1 million processed in the third quarter 2006. For complete details on Euronet’s latest results visit CardData ([www.carddata.com][1]).

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

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FLYMONARCH & PAYPAL

flyMonarch.com has implemented the PayPal Solution allowing customers
to purchase tickets without the use of a card. PayPal has over 15
million UK
accounts designed to protect transactions and personal information from
fraudulent activity. The accounts store the customers’ financial details
when it
is first established eliminating the need to relay personal information for
every purchase. PayPal, an eBay company, has over 153 million accounts in
190 different markets that use 17 different currencies and contribute to
global
ecommerce.

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DIBS Payment Services & Cellpoint Mobile Team

DIBS Payment Services and Cellpoint Mobile announced a partnership to deliver a mobile credit card payment system based on Cellpoint Mobile’s “mPoint” and DIBS’ “Internet Payment” service. The service will target consumer-focused companies such as retailers, airlines, travel agents, limousine services and Web-shops. The new joint service will launch in January and the first customers have already signed agreements and will go live immediately after launch. This new system will enable cardholders to make credit card payments for goods and services using their mobile phone 24X7. Through the use of DIBS’ technology all transactions are encrypted.

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