China Postal Bank Expands Euronet ATM Deal

Ingenico has appointed Phillipe Lazare to CEO bringing with him
business management experience in integration, logistics and
cost control. Lazare has been a member of the board of Ingenico since
February 2005 and has experience in industries such as the automotive,
avionics, international airline services, and leisure and property sectors.
Previously, he was Deputy Managing Director, member of the Executive
Committee, General Manager of retail operations and Chairman of the
French postal services company, Groupe la Poste. He was also CEO of
Groupe la Postes’ real estate subsidiary, Poste Immo. Prior to that,
Lazare was Deputy Managing Director at Air France in charge of the
Industrial Logistics division, and he was the Chairman of SERVAIR, the
group’s catering, cleaning, and airport services subsidiary. Before these
positions, he was a manager at Sextant Avionics, part of Groupe Thales,
and Groupe PSA.

Details

TIM HORTON’S & CHASE BANK

Tim Horton’s customers can now pay with their MasterCard and
MasterCard “PayPass” with the newly introduced Chase Paymentech
at 2,200 Canadian locations. This development is in response to
research indicating that almost half of adults carry $20 or less in their
wallet and that 86% want more cashless transactions. Tim Horton’s
has 2,724 restaurants in Canada and 340 in the United States. Chase
Paymentech is a payment processor and a single source for debit and
all major credit cards. It also provides payment solutions such as point-
of-sale and wireless terminals, electronic gift card programs and secure
e-commerce capabilities.

Details

BMO Mosaik MasterCard Powers Donations

Providing an overview of the progress of EMV migration for individual
regions, The Mercator Advisory Group has released research reports
detailing the status in Europe, Asia Pacific, and Latin America. Also
examined in the report are the details of the quality in the security
upgrade
from the vulnerable magnetic stripe payment cards to the more secure
microprocessor-based smart cards in the regions. With over 2.53 billion
electronic payment cards in use around the world, security from thieves
and fraudulent transactions is a significant problem and EMV migration is
important to protect these vulnerabilities.

Details

EURONET RIA & POST BANK

Euronet’s RIA Envia Inc. has signed an expansion agreement with Post
Bank. The agreement will add the existing 8,000 Post Bank payout
locations for RIA money transfers providing additional locations for
convenience in Poland. Polish workers in the Western European labor
market are responsible for money transfers to the country totaling $8
billion
a year. Reflecting this, 400,000 Polish nationals have been issued work
permits since May 2004 in the UK. Originating money transfers across
13 countries in North America, the Caribbean, Europe and Asia, RIA
terminates transactions through an extensive payer network across more
than 85 countries.

Details

SCM Microsystems’ CEO Steps Down

China Everbright Bank(CEB) has completed its deployment of Kalignite
multi-vendor ATMs. Using multi-vendor ATM software allows the bank
a wider range of ATM hardware for its 1250 ATMs now running
Windows XP and Kalignite. CEB will have deployed 250 additional
Kalignite ATMs for its 17 different models by the end of 2007. The ATM
software provider is based in Scotland and has partners and
customers in over 80 countries. CEB has 370 branches in 36 cities
throughout 23 provinces.

Details

Chase Q2 Net Interest Income Stays Flat

J.P. Morgan Chase reported this morning that second quarter credit card profits declined 13% year-on-year to $759 million, compared to $765 million in the prior quarter and $875 million in the year-ago quarter. End-of-period managed loans of $148 billion increased by $8.7 billion, or 6%, from the prior year and increased by $1.4 billion, or 1%, from the prior quarter. Net interest income of $3.0 billion was flat compared with the prior year. Net interest income was negatively affected by the discontinuation of certain billing practices (including the elimination of certain over-limit fees and the two-cycle billing method for calculating finance charges); higher charge-offs, which resulted in increased revenue reversals; and increased cost of funds on growth in introductory and transactor balances. These decreases in net interest income were offset by increased average loans and higher fees. Charge volume of $88.0 billion increased by $3.6 billion, or 4%, from the prior year. Net accounts opened during the quarter were 3.7 million. Merchant processing volume of $179.7 billion increased by $13.4 billion, or 8%, and total transactions of 4.8 billion increased by 335 million, or 7%, from the prior year. During the quarter Chase launched the “ShopRite Rite-Rewards MasterCard,” “ShopRite Private Label Credit Card” and “PriceRite Private Label Credit Card” with Wakefern Food. Chase also renewed several partner relationships including Southwest Airlines and the United States Postal Service Employee Affinity Card Program. For complete details on Chase’s second quarter performance, visit CardData ([www.carddata.com][1]).

JPM CHASE HISTORICAL ($billions)
2Q/06 3Q/06 4Q/06 1Q/07 2Q/07
EOP Outstandings: $139.3 143.8 152.8 146.6 148.0
Charge Volume: $ 84.4 87.5 93.4 81.3 88.0
Source: CardData (www.carddata.com)

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

Details

FEED Mobile Payments Picks Up Investors

E-commerce investment firm eonBusiness is helping to fund “FEED, a new Boulder-based mobile payment company. FEED is a mobile payment and marketing platform that lets consumers pay for goods and services at the register and online using a secure coding system transmitted via cellphones. Merchants who accept FEED payments get a break, as FEED transactions are less costly than credit card processing and the merchant can communicate, offer promotions and market directly to the consumer through their cellphones. The company currently has more than 200 merchants accepting FEED payments in the Boulder, Colorado market. eonBusiness is an e-commerce investment firm recognized for assisting entrepreneurs in launching, developing and growing innovative web-based e-commerce businesses.

Details

ECHO Partners with Professional Solutions

Electronic Clearing House has established a technology partnership agreement with childcare management solution provider Professional Solutions to consolidate its payment processing services for its child care clients’ ACH and credit card payments to a single processor. As a premier payment processor, ECHO will support the front end and back end of Tuition Express’ payment processing module, enabling processing of both credit cards and electronic checks. Tuition Express will now have a single processor for all of its ACH and credit card processing, leveraging ECHO’s superior services for both Professional Solutions and its Tuition Express Users. ECHO provides an integrated electronic payment processing suite.

Details

BANK AUDI VISA

Bank Audi Syria has launched its first international credit card and the first of its kind in the country. The new “Bank Audi Syria Gold VISA,” offers cardholders the ability to settle their bills through monthly payments which suit their income (10% of their monthly bills), or in full, at 0% interest. Bank Audi Syria says it has has implemented a strategic plan focusing on the electronic cards and services market in Syria. The Syrian market is a very promising one, although it is relatively new to the electronic payment system. The new card also offers free IAPA membership which offers “VISA Gold” cardholders up to 50% discounts at more than 20,000 hotels worldwide, and up to 30% discounts at car rental companies worldwide, in addition to a free membership in the “Priority Pass” program which gives cardholders access to VIP lounges in over 500 airports, regardless of the plane ticket class.

Details

Blackboard FlexVend Offers USAT Technology

Washington, DC-based Blackboard has begun offering PA-based USA Technologies’ cashless payment technology. The new partnership will enable customers of the “Blackboard Commerce Suite” to allow students to make cashless payments at campus vending machines. The cashless technology is imbedded in Blackboard’s “FlexVend” reader and supports a suite of both wired and wireless applications that enable one-card transactions on-campus, off-campus and online for cashless payment, identification and security. The new “FlexVend” readers allow students to pay for products from vending machines with their Blackboard campus card, all major credit cards, as well as contactless payment systems, such as MasterCard’s “PayPass.”

Details

Bancorp Buys BankFirst SVS Business for $61MM

DE-based Bancorp has signed a deal to acquire SD-based BankFirst’s “Stored Value Solutions” business for $60.6 million, payable $12.1 million through delivery of shares of Bancorp common stock plus $48.5 million in cash. SVS has more than 3.7 million prepaid cards issued over the past year. SVS provides customized and secure program development and card issuing services to national stored value card program managers such as WageWorks, Western Union and Evolution Benefits. SVS participates in the “open loop,” stored value card market which includes cards branded with network or association logos such as VISA, MasterCard and Discover. The transaction is expected to close in the fourth quarter.

Details

Cardtronics Raises Nearly $100MM in Bonds

Cardtronics announced that it has priced its private offering of $100.0 million aggregate principal amount of 9-1/4% Senior Subordinated Notes with expected proceeds of approximately $93.5 million to fund the purchase of the financial services business of 7-Eleven. The Company expects closing to occur on July 20, 2007. The Company intends to use the net proceeds from this offering, together with available cash and borrowings under its revolving credit facility, to fund its previously announced acquisition of substantially all of the assets of the financial services business of 7-Eleven, Inc., which is also expected to close on July 20, 2007. Cardtronics is the world’s largest non-bank owner/operator of ATMs with more than 25,750 locations.

Details