JUNE CARD DEBT

For June 2006, credit card borrowing fell by .1 billion GBP in the UK.
This is a reflection of weakening retail sales and is part of a trend of
less
unsecured card spending over the past two years. The total credit card
spending was GBP 6,983,000 for the month, a 4% decline since last
year, and a net lending decrease of 73million GBP.

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June’s gross mortgage lending of GBP21.5bn, the highest figure ever, was a
reflection of strong re-mortgaging activity. This was, however, only 5%
higher than a year earlier, suggesting that in real terms, lending
growth is slackening.

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Pershing Square Wants Ceridian Board Out

Hedge fund Pershing Square is continuing its proxy battle to derail Ceridian’s proposed sale to Fidelity National Financial and private equity firm Thomas H. Lee. Pershing wants to unseat the entire board of Ceridian. Pershing Square says the deal is way undervalued and the Company is mismanaged. Ceridian yesterday responded saying Pershing Square has failed to date to present any economic proposal for the Company and its stockholders. Ceridian says Pershing Square has resorted to personal attacks. The Board recommended that Ceridian stockholders approve the pending merger and receive $36 per share in cash and vote for the Company’s slate of directors who will work to close the transaction as quickly as the agreement permits. Pershing Square owns about 15% of Ceridian.

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ATM SECURITY CONFERENCE

In response to recent ATM and card fraud, European banks and ATM
deployers have arranged for a security conference in October, 2007. The
“Sec 7 ATM Security Conference” was jointly initiated by ATMIA Europe
ATM industry association and Retail Banking Research (RBR). The
initiative will allow for the institutions and companies to share
experience
and solutions for prevention of theft and fraud, much of which is
suspected to
be the product of organized crime and terrorist groups. Discussions will
include case studies with speakers from banks including HSBC, Swedbank
and Ceska Sporitelna and independent ATM deployers such as Australia?s
Customers. Visa, MasterCard, and the law enforcement community will
have representatives present as well.

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ORCC to Acquire Internet Transaction Solutions

Online Resources Corporation will acquire billing service provider Internet Transaction Solutions for $45 million in stock and cash. ITS has over 150 clients and processes more than 5 million payments per year. The company is a leading provider of web, IVR and call center payments to the receivables management and utility industries. The ITS acquisition extends Online Resources’ commitment to the BSP business it entered through the acquisition of Princeton eCom in 2006. Online Resources expects that ITS will contribute approximately $7 million in revenue to its full year 2007 results and will be slightly accretive to core net income per share.

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FARMACIAS BENAVIDES & WESTERN UNION

Western Union will now be available at Farmacias Benavides pharmacies
at 587 locations in 16 states and 110 cities in Mexico. Many of the
pharmacies
are open 24 hours a day, 7 days a week. With this announcement from WU
& Grupo Elektra, whom offers the company’s remittance services through
2,000 agent locations in the country, WU will be expanding its presence in
Mexico. Grupo Elektra is retailer and financial institution operating at
Elektra
and Salinas y Rocha stores through more than 1,700 Banco Azteca branches.
Western Union operates through a network of over 312,000 Agent locations
in over 200 countries and territories around the world.

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Capital One Saving Zone is Launched

Capital One Financial Corp. and Yahoo! Shopping have partnered to create “Capital One Saving Zone”, a portal on Yahoo! Shopping that offers exclusive deals on select merchandise to Capital One cardholders Capital One cardholders can receive up to a 40 percent savings on already discounted items, as well as an additional 10 percent off everything they purchase on the site using their Capital One credit card. Each week the Capital One Saving Zone will feature 10 new “deals of the week,” offering discounts on designer items for men and women that can be found on Yahoo! Shopping Yahoo! Shopping users who do not have a Capital One credit card and are interested in purchasing items at the discounted rate will be able to sign up for the credit card at the Saving Zone.

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Green Sky Business MasterCards Launched

Atlanta-based business lender GreenSky Financial has teamed with electronics hardware specialist SED International to launch two business credit card products. The new cards will be offered to SED’s reseller customers throughout the USA. The new “GreenSky Net 60 Business MasterCard” and the “GreenSky Rewards Business MasterCard offer interest free net 60 day terms and reward points with no blackout dates or limited availability seats for airline tickets. Credit limits are reviewed for limits based on in-depth, industry specific credit research. As a result, credit limits run up to $500,000. As an introductory promotion, GreenSky is offering $100 off the first $1,000 order placed with SED using the GreenSky credit card.

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Portfolio Recovery Q2 Profits Rise 17%

VA-based Portfolio Recovery Associates reported that second quarter net income grew 17% over 2Q/06 to $13.0 million. Total revenue in the second quarter increased 19% to $54.8 million. The Company purchased $2.5 billion of face-value debt during the second quarter for $63.4 million, the second-largest amount the Company has spent on debt acquisitions in a single quarter. The debt was acquired in 58 pools from 27 different sellers. Cash collections rose 9% to $64.6 million in the second quarter. The Company’s fee-for-service businesses generated revenue of $8.4 million in the second quarter, up 45% over 2Q/06. The Company also announced the appointment of Kent McCammon to the new position of Senior Vice President, Strategy and Business Development. For complete details on Portfolio Recovery Associates’ second quarter performance visit CardData ([www.carddata.com][1]).

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

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VISA Launches VidayDinero.com for Hispanics

VISA USA and the U.S. Hispanic Chamber of Commerce have launched a free, comprehensive Spanish-language personal finance website called “VidayDinero.com”The lessons and financial education resources found on VidayDinero.com have been developed using Visa’s free, award-winning online financial education program, /Practical Money Skills for Life/. Available in English, Spanish and Chinese, /Practical Money Skills for Life/ contains an array of tips to help prepare for life changing financial events, from planning a baby to saving for college and retirement, as well as a number of budget calculators and interactive games.The USHCC implements and strengthens national programs that assist the economic development of Hispanic business and works to promote financial success in the Hispanic community.

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Citi & Obopay to Offer a M-Payment Service

Citi will begin piloting a new mobile peer to peer payment service with CA-based mobile payments provider Obopay. Select Citi customers participating in the trial can add money to their mobile payment account via http://www.citi.obopay.com through credit card or electronic bank transfer. Then, using the Obopay mobile application, their mobile Web browser or text messaging, Citi customers can manage their mobile payment account directly from their mobile phone. Citi trial participants will be able to check balances, view payment histories, and add funds to their mobile payment account. Funds received via the mobile payment service can also be accessed with a prepaid debit card to be provided with the service. The mobile payment service will be initially offered to select new and existing Citi customers as part of a limited consumer trial in Boston and Chicago.

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American Banknote Joins GlobalPlatform

American Banknote is the newest organization to join as a member of smart card specification body, GlobalPlatform, and the association’s fifth new member since January 2007. A global supplier of secure documents, services and systems, American Banknote joins GlobalPlatform to support the development and promotion of the organization’s open smart card infrastructure, which it will utilize to enhance the deployment of smart card technology throughout the ABnote Group operating companies (Leigh Mardon, ABnote Brazil, Transtex, CPS Technologies, Arthur Blank, American Bank Note Company and Presscard).As a Participating Member of GlobalPlatform, American Banknote representatives will take an active role in the organization’s Systems Committee, helping to evolve the Committee’s technical roadmap and drive the continued, world-wide adoption of GlobalPlatform systems technology. The Systems Committee designs infrastructures for single and multi-application smart card programs and develops associated requirements, specifications and guidelines.American Banknote Corporation is a global supplier of secure documents, services and systems.

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