J/SPEEDY

JCB and Union Bank of Taiwan have launched the first card with
“J/Speedy” in the world. “J/Speedy” is JCB’s global standardized
contactless payment solution. Union Bank is issuing the “Breeze Center
JCB Card with the J/Speedy.” Union Bank has been issuing JCB cards and
acquiring JCB card acceptance locations in Taiwan since 2002,
and started issuing the “Breeze Center JCB Card” with the country’s most
popular shopping mall in 2002. JCB and JCBI will continue promoting the
“J/Speedy” contactless payment program in Taiwan and the rest of Asia, a
market that has already seen the introduction of multiple international
brand contactless payment programs, expanding both issuing of JCB brand
cards with “J/Speedy” and merchant acceptance. In Japan, JCB also rolled
out the “QUICPay” contactless payment product in April 2005 based on
Sony’s “FeliCa” chip specification, which is widely employed for
contactless payment solutions such as public transportation fare systems
and mobile phone applications in Japan.

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Citi Adds Two New AT&T Universal Cards

Citi and AT&T have added two new cards that offer savings on purchases of AT&T products and services, as well as calling benefits and complimentary mobile phone insurance. The new “AT&T Universal Savings Platinum Card” and the “AT&T Universal Savings and Rewards offer a 10% savings for the first 12 months and a 5% savings thereafter on every dollar spent on eligible AT&T products and services equal to the amount spent on their other purchases. The savings will appear as a billing statement credit during the billing period the purchases were made. Cardholders can earn up to $350 in savings each calendar year. The “AT&T Universal Savings Platinum Card” offers a low rate and the “AT&T Universal Savings and Rewards Card” offers points for non-AT&T purchases through Citi’s “ThankYou Rewards Network.” Both cards include calling benefits: two free directory assistance calls each month, up to 30 prepaid phone minutes each month and free mobile phone insurance.

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DANAL EXEC

Mobile payment service provider Danal has appointed Steven Klebe, most recently VP of sales & business development at PassMark Security as its VP of sales & business development. Klebe will be responsible for building the team to develop partnerships with online merchants and key business partners. Klebe has served as a board member of the Electronic Transaction Association for two years, co-chaired the Internet committee of the Electronics Funds Transfer Association, was a member of the Advisory Board of the Direct Response Forum, and taught classes at NACHA’s Payment Institute. He has spoken at over 50 banking and computer industry conferences and is considered an expert in the areas of electronic payments, ecommerce, authentication and fraud prevention. He holds a B.S. in Business Administration with honors from Northeastern University in Boston. Danal allows consumers to purchase goods and services online by charging their purchases directly to their regular mobile phone bills, with no up-front registrations or ties to credit cards or bank accounts.In May 2007, US-based Danal, Inc. raised $9.5 million in venture financing from Morgenthaler Ventures and Danal Co., Ltd. to commercialize its service for the US market.

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ADS Expands its Williams-Sonoma Contract

Alliance Data Systems has signed agreements with Williams-Sonoma to launch a private label credit program for the West Elm brand and continue providing private label credit card services for the Pottery Barn brands Under the terms of the agreements, Alliance Data will provide the following services for West Elm and Pottery Barn’s multi-channel businesses: account acquisition and activation, receivables funding and credit risk management, credit authorization, card issuance, statement generation, remittance processing, and customer service functions associated with the card programs. The card programs also include rewards for cardholders in the form of rebates or account activation incentives for customers opening new accounts. Additional marketing and loyalty services tied to the card programs include special offers and retention-focused mailings. Alliance Data is a provider of marketing, loyalty and transaction services, managing over 120 million consumer relationships for some of North America’s most recognizable companies.

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BEANSTREAM & NCIRCLE

Beanstream has signed agreements to implement nCircle “Certified PCI
Scan Service” for security assessment and PCI compliance. Subsequently,
Beanstream will scan its potential online-merchant’s networks for
vulnerabilities and intrusions using the nCircle solution. If the
merchant meets
PCI compliance, Beanstream approves the merchant to join its payment
network. Otherwise, the merchant will be advised to address security risks
before being granted a merchant account. “Certified PCI Scan Service” is
certified under the PCI Data Security Standard v1.1 and is fully automated
to allow merchants compliance. nCircle’s compliance management technology
is used by more than 3500 customers worldwide. Beanstream Internet
Commerce Inc. is a subsidiary of LML Payment Systems Inc.and provides
e-commerce solutions to nearly 5,500 businesses across North America.

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VISA INC CFO

VISA has named Byron Pollitt, formerly a top executive at Gap and Walt Disney, as CFO designate of Visa Inc. VISA also announced that the VISA Inc. Board will include 10 independent directors and seven directors drawn from each of its geographic operating regions. Joseph Saunders will continue as Chairman and CEO of Visa Inc. VISA plans to form VISA Inc. through a series of mergers involving VISA Canada, VISA USA and VISA International. VISA Europe will retain its member- owned association structure and will become a licensee of VISA Inc.

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Small Business Owners Remain Optimistic

Even though credit availability is tightening, small business owners remain optimistic. The quarterly “Wells Fargo/Gallup Small Business Index” found that small business owners’ current view of the operating environment and financial conditions slipped eight points to 41 in July since the last quarterly reading in April. The percentage of small business owners saying obtaining credit was somewhat or very easy fell five points to 48%. Future expectations fell five points from April to 59, the lowest level since June 2005. The survey also noted that declining home prices, high consumer debt levels, and rising food and energy prices have reduced the consumers’ willingness and ability to spend in other areas.

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THE CREDIT CARD CLUB

The Credit Card Club has introduced a program that allows cardholders
to donate their earned points as cash to His Majesty the King’s
“Chaipattana Foundation” from the dates of September 1st, 2007 until
November 30th, 2007. The program is being launched in honor of the
King’s 80th birthday and, for every 2,000 reward points, allows
cardholders to donate 200 baht. Banks participating in the program
include 14 financial institutions such as Bangkok Bank, Kasikorn Bank,
Siam Commercial Bank, Thai Military Bank, Siam City Bank, United
Overseas Bank (Thai), Standard Chartered Bank (Thai), Citibank N.A.,
HSBC, Krung Thai Card, Krungsri Card, AIG Card (Thailand) GE
Capital (Thailand) and Cetelem (Thailand) in association with Visa
International (Thailand) and MasterCard International.

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VeriFone’s Quarterly Revenues Soar 57%

VeriFone reported that its net revenue for the quarter ended July 31st surged 57% to $231.9 million, largely driven by the Lipman acquisition. Net revenues from VeriFone’s International business increased 106% while net revenues from its North America business increased 22%. During the quarter, VeriFone signed more than 5,000 New York City taxicabs to comprehensive multi-year agreements for in-taxi acceptance of credit cards. Also, the TJX Companies rolled-out the “MX 870” to the entire enterprise; Rent-A-Center chose the new “MX 850” system to provide debit and credit functionality to all of their stores; and the “MX 870” was also selected by Bon-Ton Department Stores. Internationally, VeriFone was selected as the sole provider of payment solutions to China Postal Savings bank and Cara, the largest operator of full service restaurants in Canada, selected VeriFone’s “ON THE SPOT” pay at the table system designed exclusively for the hospitality industry. VeriFone raised its next quarter internal expectations for net revenue to $231 – $233 million. For complete details on VeriFone’s latest performance, visit CardData ([www.carddata.com][1]).

REVENUE HISTORICAL
2Q/05: $125.7 million
3Q/05: $130.5 million
4Q/05: $134.6 million
1Q/06: $142.2 million
2Q/06: $147.6 million
3Q/06: $156.6 million
4Q/06: $216.6 million
1Q/07: $217.2 million
2Q/07: $231.9 million
Source: CardData (www.carddata.com)

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

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RED & VIRGIN

Retail Decisions (ReD) & Virgin Mobile have extended contracts with
the provision of ReD card fraud detection and the processing of 15 million
Virgin Mobile payments annually. ReD will process payments for Virgin
Mobile’s call center, Internet and IVR. Based on ReD statistics, there was
a 50% rise in attempts at card fraud between 2005 and 2006,
58% of the criminals are less likely to attempt fraud with the same
merchant
after an initial failed attempt, and New Years Eve 2006 reflected
the most fraudulent day on record for pre-paid card fraud with a 110%
increase over a typical Sunday. With 19 years experience in the fraud
prevention market, ReD serves blue-chip international clients from a
variety of industries. Virgin mobile phones are available at 5,000 outlets,
employs approximately 1,700 staff at three sites, and has an outsourced
customer service center operated by approximately 200 staff in
Middlesbrough.

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Median Graduate Student Card Debt Up 3.9%

A new study has found that the average outstanding balance on credit cards held by graduate students increased 10% since 2003 to $8,612 and that the median credit card debt among this group has grown less than 4% to $3,874. On average, older graduate students (aged 30-59) carry $12,593 in credit card debt, almost twice as much credit card debt as their younger counterparts (aged 22-29) who carry an average debt of $6,479. The figures come from a new study released by Nellie Mae. The research also showed that 92% of graduate students have at least one credit card. This is a 4% decrease from the 96% who had credit cards in 2003. The study also revealed that the average amount of money put on credit cards for all direct education costs (tuition, room and board, textbooks, school supplies, transportation) was $2,820, with 10% of the group charging $7,000 or more. Only 6% of respondents did not use credit cards at all for a direct education expense. The study is Nellie Mae’s sixth in a series conducted since 1998.

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