CREDIT SAISON & UC CARD

Credit Saison and UC Card have announced the merger of their
credit card operations. The merger will create a separate company,
Qubitous Co., and will take effect October 1, 2007. UC Card, the
Mizuho Bank credit card unit, will be financing 100% of the Qubitous
100 million yen capital and will transfer all operations immediately. It
is expected that Credit Saison will not be transferring operations until
April 2008 and will acquire a 51% stake in the new company. Mizuho
Bank will acquire the remaining 49%.

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BARCLAYCARD ONEPULSE

For the acceptance of Barclaycard’s “OnePulse cashless card”, over 1,000
London retailers have agreed to implement Barclaycard’s cashless payment
technology. Using the new solution, neither a customer’s user signature or
PIN is required for transactions under GBP 10. Cardholders will also benefit
from “Oyster” airfare discounts with pay-as-you-go or season ticket,
standard
chip and PIN security for transactions over GBP 10, and cashless “OneTouch”
payment convenience. Barclaycard is a multi-brand credit card and loans
business and processor that provides credit cards in dozens of countries.

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CITIGROUP AWARDS

Citibank came out on top at Global Finance Magazine’s “World’s Best
Internet Banks in Asia-Pacific”awards. Determined by a judging panel,
consisting of representatives from Tata Consultancy Services Ltd,
institutions were awarded based on strategy strength for attracting online
customers, web offerings attractions, online customer growth, breadth of
product offerings, tangible benefits gained from Internet initiatives
and web
site design and functionality. Citibank won “Best Consumer Internet Bank”
in Guam, Indonesia, Malaysia, Pakistan and Thailand while Citibank Hong
Kong won “Best Online Consumer Credit Site” and “Best Information
Technology Initiative”. The financial institution also won “Best Corporate/
Institutional Internet Banking” in Australia, Indonesia, Japan, New
Zealand,
the Philippines, Singapore, Sri Lanka, Thailand and Vietnam and “Asia’s
best online investment management services site”.

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TELSTRA, AUSTRALIA BANK & VISA

Telstra, National Australia Bank and VISA have signed agreements to
begin testing NFC technology using both phones and cards. The trial will
begin with 250 existing customers in Melbourne as of January 2008 at 30
retail outlets, which will be equipped with the requisite NFC readers. The
solution will allow transactions of AU$30 or less without authentication,
otherwise PIN entry is required. According to ABI Research, by 2012
nearly 292 million handsets will have NFC capability as a standard
feature.

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JUNE DEBT

RBS has begun the implementation of contactless payment cards, which
can cut transaction speeds in half. Designed for speed and convenience,
the RBS contactless payment cards can be used at certain retailers in the
City of London and on the South Bank of the Thames. Customers can
make purchases for less than 10 GBP at local McDonalds, Oddbins,
cafes, delis, pharmacies, bars and sandwich shops. Since June 2006 over
52,000 purchases have been made using the new solution. With the full
implementation, however, RBS will start to issue several hundred thousand
contactless debit and credit cards to RBS, NatWest and MINT customers.

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NICE ACQUISITION OF ACTIMIZE

NICE Systems has announced its acquisition of Actimize risk management
software for a consideration of $280 million, 80% to be paid in cash
and the remainder to be paid in NICE ordinary shares. According to
experts, this development establishes NICE with expansion in industry
analytics, processing and analyzing. Projections resulting from the
acquisition
reflect a contribution of approximately $3 million in non-GAAP revenues
and a dilution of 1 to 2 cents in non-GAAP EPS for 3Q07. NICE has over
24,000 customers in 100 countries, including over 85 of the Fortune 100
companies.

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CARD SECURITY

APACS has revealed that 10 million credit and debit cards are now
registered with MasterCard SecureCode and Verified by VISA. These
services are designed to protect online shoppers from unauthorized use
through password implementation with no need for additional software.
It is increasingly common that these services are provided to users through
the website of the bank or card company that issues their card. APACS
has also released a “consumer advice guide” explaining the process of
registering for these services and the security benefits. For 2006,
over 26 million people made online purchases and it is estimated that the
online shopping market is now worth around GBP 21.4billion a year.

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FDC & EXPERIAN

First Data will be providing Experian with card, loan and collection
services for UK clients under a recently signed contract. The services
will be managed using First Data’s “VisionPLUS” software, which
currently manages a portfolio of nearly 8 million credit card accounts
and 3 million consumer loan accounts. Additionally, 150 of Experian’s
Management Systems staff will transfer employment to First Data.
First Data Serves over 5 million merchant locations, 1,900 card issuers
and their customers providing merchant transaction processing services,
fraud protection and authentication solutions. The company’s STAR
Network offers PIN-secured debit acceptance at 2 million ATM and
retail locations. Experian employs nearly 15,500 people in 36 countries
supporting clients in more than 65 with annual sales of over $3.8 billion.

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GEMALTO SERVICE CENTER

Gemalto has opened a personalization service center in Barueri,
Brazil for its finance and public markets. With nearly 280 million
debit and credit cards, plus 116 million retail store credit cards, the
Brazil market has great demand for the secure microprocessor chip,
of which 20 million have already been upgraded. With debit card
growth averaging 21% annually, and credit cards with an average
annual growth of 15%, projections look promising in this market
segment. Gemalto provides digital security with 2006 annual revenues
of EUR 1.7 billion, operations in about 100 countries and over 10,000
employees including 1,500 R&D engineers.

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AFRICARD VISA

PSPP Holdings has begun testing its Africard Prepaid Visa Card which
is designed for payroll and general use to be re-loadable at BIB Bank and
Western Union locations. The card is available in French dialect and
accepted as a debit card at retail terminals and ATMs. PSPP is a financial
services company that is establishing an international banking network to
facilitate electronic remittance, Mobile Banking, e-benefits, stored value
and pre-paid card solutions.

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CITIBANK REMITTANCE

Citibank has introduced a remittance service specifically designed for
money transfers between the UAE and Pakistan. With the “Citibank Rupee
Current Account” available in the UAE and the “Rupee Savings Ultimate
Account” in Pakistan, Citi has designed a “Twin Account” relationship for
the expatriate Pakistani segment who need to send or receive money
in the UAE. The “Twin Account” design utilizes multiple access channels
to Pakistan with custom foreign exchange rates and allows transfers from
the
UAE 24-hours a day by phone, through ATMs, at a Citibank branch or
Online. Account holders will receive term deposit rates of up to 5% p.a. at
Citibank UAE, a check book and a Citibank Debit Card. Citi has nearly
200 million customers in more than 100 countries.

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CITI & EURIGIRO

Citi Markets & Banking has partnered with Eurogiro with the intention
of expanding their payments networks and combining connections in over
150 countries. This development, subsequently, will grant clients of both entities access to each other’s network and products. Eurigiro network consists of financial institutions for the development of effective solutions and a platform for co-operation on cross border payments. Citi Markets & Banking is a corporation, financial institution, institutional investor and
government agency financial partner with operations in over 100 countries.

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