WESTPAC BANK & MONEYGRAM

Westpac Bank has announced that it will be providing MoneyGram services
in Papua New Guinea (PNG), allowing consumers to transfer money
internationally without the need for a bank account. The service allows
Papua
New Guineans to send and receive money from more than 25,000 locations
in 170 countries. This development is especially important for the
14,000 PNG
citizens whom live and work in Australia. MoneyGram generated $1.16 billion
in revenue for 2006.

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Credit Meltdown Impacts Small Biz Financing

The seasonally adjusted National Association of Credit Management “Credit Manager’s Index” inched-up up 10 basis points in August, although six of the 10 components fell. NACM says the economy’s effect on the credit markets has spread to the trade credit markets, causing difficulties ranging from financing troubles to increased business bankruptcy risk. The sub-prime mortgage meltdown has sent a contagion of fear into other mortgage-backed securities, corporate bonds, leveraged buy-out financings, and now even the safest of commercial paper markets. If the highest quality credits are having difficulty securing financing, then smaller businesses will be even more strapped to find financing of any kind, including financing of trade credit. The CMI index has crept lower over the past 12 months, falling from 57.3 to 55.1.

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HSBC Offers Premier Global Banking

HSBC has created a new global personal banking service for the 51% of mass affluent Americans that have considered living or taking an extended vacation abroad. The new “HSBC Premier” is being rolled-out simultaneously across 35 countries and territories. Among the features of the new program is a credit card offering exclusive deals from 6,000 merchant in 40 countries with no foreign transaction fees on purchases made in a foreign currency. Other features include a single view of all accounts held with HSBC globally via the Internet that provides the ability to manage all accounts, whichever country they are in, through a single website and free fund transfers between accounts via online service made easier, wherever they are based, starting in November. HSBC estimates there are 200 million mass affluent and internationally mobile consumers in the world.

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MasterCard to Unveil Manning Pep Talks

MasterCard is rolling-out two new spots in tomorrow night’s NFL season opener that features tongue-in-cheek vignettes by Colts quarterback Peyton Manning extolling satirical life lessons for fans. The 12 “Pep Talks” from Manning will also be available online whereby fans can interact with the campaign and email the video to someone they know. The ten remaining spots from the series will air periodically on sports and non-sports programming and online media throughout the season. Between 2004 and 2006, MasterCard featured Manning in five television spots, four of which featured him in his popular role of “fan of the fans.” Creative for the MasterCard “Priceless Pep Talks from Peyton Manning” campaign is handled by McCann Erickson/New York.

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GiftCards.com Expands Top Executives

Gift card distributor GiftCards.com has hired Mark Romanelli, previously VP at Direct Response Technologies, as EVP and Tim Ludwig, president and owner of Business Logistic Services, as Business Logistics Director and Board member. Romanelli will oversee all sales and operations for GiftCards.com. His recent position and experience will benefit him greatly as he takes on providing co-branded Visa debit cards to over 5,000 corporations. Ludwig has over twenty-one years of experience in the credit card industry with past experience with Citibank, AT&T, and Wachovia. He is currently a Chairman for the Data Card Users Group. GiftCards.com provides prepaid Visa debit cards to consumers and corporations to expend as gifts, rewards, or incentives.

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CyberSource’s BidPay.com Cuts Merchant Fees

Online payment service provider BidPay.com has reducing the fees it charges online merchants and auction sellers. Standard domestic pricing has been lowered from 2.5% of the price of the goods being sold to 2.19$%, plus $0.25 per transaction. Pricing on international orders has also been lowered to 2.9% plus $0.25 per transaction. BidPay is a wholly owned subsidiary of CyberSource Corporation. CyberSource Corporation is a provider of electronic payment and risk management solutions.

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PULSE Network Renews Woodforest Natl

TX-based Woodforest National Bank signed an agreement with the PULSE EFT Association extending the bank’s participation in the PULSE ATM/debit network. The agreement ensures continued access to Woodforest’s debit cardholders to PULSE’s nearly 260,000 ATMs, as well as point-of-sale (POS) terminals across the U.S. PULSE will also continue to provide Woodforest with signature debit processing and gateway connections to other networks. Woodforest National Bank is a $2.4 billion bank with more than 350 branches located in Texas, Illinois, Indiana, Maryland, North Carolina, Ohio, Pennsylvania, Virginia and West Virginia. PULSE is owned by Discover Financial Services.

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Dinewise Joins MC’s Global Premium Collection

NY-based direct food marketer DineWise has signed an agreement with MasterCard Worldwide as part of the MasterCard Global Premium Collection to provide a promotional discount and promote DineWise through statement inserts, new cardholder solicitations, and activation and usage direct mail programs. Direct food marketer DineWise has signed an agreement with MasterCard Worldwide as part of the MasterCard Global Premium Collection to provide a promotional discount and promote DineWise through statement inserts, new cardholder solicitations, and activation and usage direct mail programs. This marketing program can generate millions of dollars of revenue for financial institutions, and now DineWise will become a value-added partner in these marketing efforts. DineWise is a leading multi-channel direct marketers of chef-prepared meals delivered directly to customers and ready to serve in minutes.

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COINSTAR & PAYPOINT

Coinstar E-Payment & PayPoint have introduced a gift card program
for retailers at over 17,000 outlets. The solution is expected to launch
in 2H07 for department store, clothing, book, music, experience,
sporting and electronics brands. The program also provides PayPoint
retailers with a solution to increase foot traffic and profits by promoting
a convenient way for consumers to buy gifts. Coinstar provides products and
services at over 60,000 retail locations around the world. PayPoint is
a cash and internet payments company that handles over GBP5 billion
in 414 million payments annually for over 5,000 British and Irish clients
and merchants.

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VISA Inc. Names Board and 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 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. (CF Library 5/15/07)

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CRYPTOMATHIC & AFPC

The Association des Fabricants et Personnalisateurs de Cartes (AFPC)
has selected Cryptomathic’s “CardInk” for its French smart card
personalization applications. “CardInk” will provide data preparation for
AFPC and currently supports other personalization companies such as
Oberthur Card Systems, CPS Technologies and Euro P3C by enabling
issuers to process data for French applications. These applications include
“Moneo ePurse”, “legacy magstripe” and standard EMV applications. The
contract will consolidate the position of Cryptomathic in France, according
to experts.

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Paymetric Unveils XiSecure for Credit Card Data

Payment card software provider Paymetric has released “XiSecure”, a solution for managing and centralizing encrypted credit card data across an enterprise. “XiSecure” removes credit card numbers stored in business applications. Other features to Paymetric’s encryption management solution includes the replacement of credit card numbers in enterprise applications with encryption tokens; storage and encryption of credit card numbers in a centralized, secure system; provide key management and key rotation capabilities outside of enterprise applications and provide access logging and monitoring of decryption requests.

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