U.S. Green Migration to Drive EBPP

A new report has determined that if all U.S. households viewed and paid bills online it would save 2.3 million tons of wood; reduce fuel consumption by 26 million BTUs; decrease toxic air pollutants by 3.9 billion pounds; reduce toxic wastewater by 13 billion gallons; lower solid waste generated by 1.6 billion pounds; and remove 8.5 million particulates and 12.6 million nitrogen oxides from the air. The study released by Javelin Strategy & Research also reveals that 61 million households currently bank online (53% of the U.S. household population) which is projected to reach 82 million households by 2012, or 67% of U.S. households. Additionally, 39 million households pay bills at individual biller sites today, and this number is projected to reach 50 million by 2012.

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Global Cash Access Terminates its CFO

Global Cash Access Holdings will terminate the employment of CFO Harry C. Hagerty III. Hagerty’s three-year employment agreement expired earlier this month. Hagerty has served as Chief Financial Officer since July 2004. CEO Kirk Sanford will assume the office of Chief Financial Officer on an interim basis. Global Cash Access is a provider of cash access and related services to the gaming industry.

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Saylent Lands Former MasterCard Exec

MA-based Saylent Technologies has announced that Russell J. Prettitore, previously with MasterCard International and NYCE, has joined the company as VP of sales. In his previous role at MasterCard International, Prettitore consistently exceeded annual sales objectives, selling branded debit card and EFT processing services to major financial institutions. He also held senior sales and client service roles at NYCE Corp., a leading payment services provider, and served as a marketing analyst and researcher at Carmody & Bloom, where he conducted electronic payment industry research supporting the firm’s consulting practice. Saylent Technologies develops debit card management solutions that drive revenue for the banking, credit union, and payment industries.

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GENERAL ATLANTIC & GLOBALCOLLECT

General Atlantic has acquired GlobalCollect from Waterland & Prime
Technology Ventures. As a payment service provider, GlobalCollect offers
online merchants capabilities for processing credit cards, debit cards,
bank
transfers, direct debits, personal checks, eWallets, prepaid methods, and
accepting cash through retail outlets. GlobalCollect has a presence in
telcos/
portals, publishing, online games, retail, digital content,
ticketing/events and
travel. With headquarters in Hoofddorp, the Netherlands, and sales offices
in San Francisco and Singapore, GlobalCollect offers online merchants
payment method options in over 200 countries. The General Atlantic growth
equity firm manages approximately $15 billion in capital and has more than
70 investment professionals from around the world.

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Equifax Revenue Climbs 17% in 2Q/07

Equifax posted second quarter revenue of $454.5 million, up 17% compared to 2Q/06. Net income rose to $70.1 million, a one percent increase from the second quarter of last year. U.S. Consumer Information Solutions revenue was $250.0 million in the second quarter, a 2% increase from 2Q/06. Online Consumer Information Solutions revenue was $165.4 million, up 5% while Credit Marketing Services revenue was $39.6 million, down 3%. Direct Marketing Services revenue was $26.0 million, down 9% compared to the second quarter of 2006. North America Personal Solutions revenue rose to $38.6 million, a 24% increase from the second quarter of last year. For more details on Equifax’s second quarter performance visit CardData ([www.carddata.com][1]).

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

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AMEX 2Q/07

American Express reports that gross dollar volume on its international cards rose 19% and its international cardbase expanded 11% during the second quarter, compared to the year ago quarter. International Card & Global Commercial Services reported second quarter net income of $277 million, up 22% from a year ago. Global Network & Merchant Services posted second quarter net income of $266 million, up 33% from 2Q/06. International card volume rose to $45.4 billion, up sharply from $40.8 billion in the prior quarter. The total number of international cards-in-force grew by 1.1 million from the prior quarter to 31.7 million cards. During the quarter GNS launched a new partnership with Banco Privado in de Inversiones in Argentina to issue American Express-branded Standard, Gold and Platinum cards; launched Bruneiâ™s first airline co-brand card; and launched the ICBC Staples Corporate American Express Card, the first American Express branded co-brand corporate card in China. For complete details on American Express’ second quarter results, visit CardData (www.carddata.com).

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Competitive Rates Dampen Balance Transfers

A new research report suggests that there is less balance transfer activity and that cardholders are remaining loyal to their existing credit card relationships. According to research recently conducted by Auriemma Consulting Group only 15% of credit cardholders had transferred a balance in the past year, and 43% of those respondents said their last balance transfer was for an amount of $2,000 or less. ACG says interest rate competitiveness among credit card companies is reducing the incidence of balance transfers. The average balance carried on cards continues to increase, but consumers are not being enticed to move those balances to alternative lines of credit. ACG surveyed 399 consumers for the study.

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DIRHAM MASTERCARD

PT Bank, with MasterCard, has launched the “Dirham Card”, the first
of its kind to be offered in Indonesia. Making the card unique is its
adherence to Islamic principle. In doing so, the card issuer abides by
what are known as the three contracts, or ‘akad’. Akad consists of the
Ijarah scheme, which provides that the card issuer acts as the provider of
payment and service system for the card holder for which the card holder
is charged a membership fee. The Kafalah transaction scheme, also
composing of akad, holds that the bank acts as the guarantor for card
holders against merchants. Finally, the Qardh akad scheme stipulates that
the card issuer acts as the lender to the card holder through the cash
withdrawal from the bank and is obliged to return the same amount of funds
he withdrew. The “Dirham Card” does not implement interest, employs a fee
calculation which appreciates partial payment, funds charity with
incurring fees,
and is accepted around the world. Bank Danamon Syariah has a presence in
cities including Jakarta, Bukit Tinggi, Banda Aceh, Surabaya, Martapura,
Solo
and Makassar, third party funds of Rp 337 billion and total
financing in
syariah schemes of Rp 220 billion.

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Comdata Launches its First Card Ad Campaign

Comdata has launched its first national television advertising campaign featuring gift cards, fleet cards and payroll cards. Nashville-based Dye,Van Mol and Lawrence (DVL) concepted the print and broadcast campaign and developed all aspects of the production and placement. The ads were inspired by ink illustrations created by Andrew Zbihlyj used in Comdata’s current print advertising. Animator Pasha Ivanoff brings the illustrations to life transforming each category of electronic payment into Comdata’s payment solution. The ad will run through Oct. 14 on CNN, CNBC and Fox News. Comdata provides custom payment solutions for a wide range of industries such as transportation, retail, government services, aviation, construction, service businesses, restaurants and hospitality.

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BARCLAYCARD FOOTBALL CARD

Barclaycard has introduced the “Barclaycard Football” credit card targeting
the fans of the sport. The card offers 0% on balance transfers for 12
months
and 0% on season ticket purchases until the cost of the ticket is paid
in full.
Rewards are offered at up to 5% on team merchandise at retailers including
JJB Sports, Superdrug, Waterstones, W H Smith and Currys. Merchandise
for point redemption includes 1,600 points for an Adidas football, 2,000
points for a GBP 10 JJB Sports voucher and 7,000 points for a football
jersey of their choice.

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MPS Drives Meta Financial’s Q2 Revenue

Prepaid card issuer Meta Financial reported net income of $2.4 million for the quarter ending June 30th, compared to net income of nearly $2.5 million for 2Q/06. Meta Payment Systems recorded net income of $369,000 for the quarter, compared to $2.6 million for the same period last year. The 2006 period included non-recurring pre-tax income of $2.57 million related to a purchased portfolio of prepaid debit cards. Non-interest expense for the quarter was $9.7 million, which represents an increase of $2.80 million from the same quarter in 2006. The bulk of the increase occurred in compensation and card processing expense and was primarily the result of continued growth in the MPS division. During the quarter, Meta Financial has named Scott Galit, formally a SVP of Global Prepaid Products at MasterCard, as EVP of Meta Payment Systems. For complete details on Meta Financial’s performance visit CardData ([www.carddata.com][1]).

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

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