Mobile Payments Specialist Firethorn Names a COO

GA-based mobile banking and payments enabler Firethorn Holdings has named Rod Dir, previously COO at Cincinnati Bell, as its COO. At Cincinnati Bell, Dir oversaw all of the company’s business segments including wireless, broadband, local access, long distance and data center and managed services. He was responsible for the daily management and performance of consumer and business sales, marketing, product development, engineering, network and customer care operations. Prior to Cincinnati Bell, he served as Chief Operating Officer of Powertel (now T-Mobile), an Atlanta-based wireless carrier that operated in 12 states and 34 markets throughout the Southeast. Firethorn is a mobile banking and payments enabler supported by the nation’s leading financial institutions and wireless carriers.

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ID DATA GROUP

ID Data Group has been awarded a retailer contract for the company’s
loyalty program which is projected to generate revenues of nearly
GBP 1.5 million for 2H08. ID Data will implement its key fob with POS
technologies such as barcodes, magnetic stripe and RFID. With this,
ID Data will deliver retail solutions for personalized cards that are needed
within a short period of time. Comparable loyalty programs recently
launched by the company include Tesco Clubcard, Boots Advantage and
Nectar.

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TSYS Third Quarter Net Income Climbs 27%

TSYS reported that third quarter profits rose 27%, hitting $68.8 million. Revenues of $457.6 million represented a 4% rise over 3Q/06. The Company says revenue growth continues to pick up steam with international revenues growing 38% year-to-date over 2006. During the third quarter TSYS signed an issuer processor agreement with Discover Financial Services; signed a long-term agreement with the U.K.’s Nationwide to process its credit card account portfolio and to build, operate and manage a new customer care center for member support services; signed Tinkoff Credit Systems, a Moscow-based consumer lending bank, to supply its card management and authorization system; launched a new money transfer card in the UK with Lloyds TSB; and announced a multi-year agreement to provide merchant processing services to Veracity Payment Solutions headquartered in Atlanta. Based on GAAP, TSYS’ estimates 2007 net income to increase between 0%-2% as compared to 2006. For complete details on TSYS third quarter performance, visit CardData ([www.carddata.com][1]).

TSYS REVENUE HISTORICAL
3Q/05: $422.0 million
4Q/05: $420.7 million
1Q/06: $412.3 million
2Q/06: $429.2 million
3Q/06: $441.8 million
4Q/06: $503.9 million
1Q/07: $429.6 million
2Q/07: $460.2 million
3Q/07: $457.6 million
Source: CardData (www.carddata.com)

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

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HOME CAPITAL & PAYMENT SERVICES

Home Capital Group has completed its acquisition of Payment Services
for which 11,013,629 common shares will be tendered, or a 95.87%
majority shareholding. Home Capital has met the requisite 66 2/3% of the
common shares being validly deposited. Home Trust provides deposit,
mortgage lending, retail credit and credit card issuing services throughout
Canada while PSiGate provides Internet security and trusted commerce
solutions for North American businesses.

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Barclays Brings Miles & More MC to the USA

Barclays has launched a U.S. version of its popular “Miles & More” program. “Miles & More,” the frequent flyer program of Lufthansa, is Europe’s largest frequent flyer program. The new card combines the spending power and amenities of a “Barclays World MasterCard” with the benefits of “Miles & More.” The card is available with either a $59 annual fee for the standard program or $79 annual for the “Premier” program. The standard program offers 15,000 bonus miles after the first purchase; no mileage expiration; the ability to earn up to 10,000 additional bonus miles for balance transfers; and one mile for every dollar spent on all purchases. The “Premier” program offers 20,000 bonus miles after the first purchase; the ability to earn up to 15,000 additional bonus miles for balance transfers; two miles for every dollar spent on any Lufthansa or other “Miles & More” integrated airline partner ticket purchase; and one mile for every dollar spent on all other purchases.

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Heartland Payment Acquires General Meters

NJ-based Heartland Payment Systems has acquired General Meters, a developer and provider of one-card systems for college and university campuses. General Meters provides the “University One-Card System” which combines security access, on-campus dining and vending, employee record keeping and copier/printer/fax control – onto one ID card for students, faculty and staff. Heartland recently launched the first university contactless payment system in North America at Slippery Rock University in Slippery Rock, PA. Heartland will add its contactless technology to the General Meters product. General Meters? more than 150 clients will be amongst the first to be able to implement this solution. Financial terms of the merger were not disclosed.

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Electronic Payment Exchange Unveils BuyerWall

DE-based Electronic Payment Exchange has unveiled the first and only cardholder data protection system that allows merchants to eliminate data breach liability yet still control the entire customer experience. The new “BuyerWall” processes, transmits and stores cardholder data ensuring it never enters the merchant’s system. The patent-pending solution is based on the principal that if a merchant never has the credit card numbers, it is in no danger of exposing the data if it is compromised. “BuyerWall” is different thanks to EPX’s straight-through payment processing capability, eliminating many of the hand-offs and redundant storage points of the typical credit card transaction. “BuyerWall” alleviates a merchant’s need to store cardholder data, as it issues a “BuyerWall Recognized Identification Code” to the merchant in place of the data.

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mFoundry’s Spotlight Mobile Embraced in Texas

mFoundry announced the selection of mFoundry’s “Spotlight” financial platform by TX-based IBC Bank. IBC will leverage mFoundry’s Spotlight Mobile Banking solution to provide IBC’s customers with real-time, on-demand access to their IBC checking, savings and credit card accounts. IBC customers will be able to securely access account balances and also enjoy comprehensive search and retrieval of their account transaction histories, the ability to transfer money between accounts, the ability to retrieve and pay their bills, and the option of searching for IBC branches and ATMs. Additionally, in an industry first, IBC will offer its mobile banking services in both English and Spanish to address its ethnically diverse customer base.

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CITI INTL 3Q/07

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) 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).

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Comdata Q3 Revenues Rise Nearly 14%

Minneapolis-based Ceridian reported that its third quarter revenues rose nearly 7% to $412 million, while its payment processing and card issuing subsidiary posted about 14% gain over 3Q/06. The Comdata subsidiary, which primarily serves the trucking and retail industries, reported $140.6 million in third quarter revenues. Overall growth in the transportation business was in the mid-single digits on a percentage basis, driven primarily by strong “BusinessLink” transaction growth in both the over-the-road and business fleet markets, private label processing and in regulatory compliance. Over-the-road trucking transactions were up about 1%. Organic growth in the retail services business was above 20%, driven primarily by robust demand for gift cards. In May, Ceridian announced that Comdata will be going private following a merger deal with Thomas H. Lee Partners and Fidelity National Financial in an all cash transaction valued at $5.3 billion. The deal is expected to close this quarter. For complete details on Ceridian/Comdata’s third quarter performance, visit CardData ([www.carddata.com][1]). (CF Library 5/31/07)

COMDATA REVENUES
3Q/06: $123.8 million
4Q/06: $121.3 million
1Q/07: $117.4 million
2Q/07: $133.5 million
3Q/07: $140.6 million
Source: CardData (www.carddata.com)

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

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CODA 2CONTROL

In response to research reflecting its necessity, CODA finance systems
has made available its CODA “2control Expenses” expense report
automation. An Aberdeen Group survey of 377 companies found that
manual expense systems costs twice as much for claim processing as
automated claim processing and based on 60,000 reports processed
annually, this new solution can save a company GBP480,000 per year
and improve control, efficiency and accuracy by streamlining the
authorization processes. CODA has around 600 employees working at
18 offices in 14 countries and provides software for 2,600 organizations
in over 100 countries.

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