SPDBCCC & IHG CARD

Shanghai Pudong Development Bank Credit Card Center (SPDBCCC)
and IHG (InterContinental Hotels Group) have launched a co-branded
Priority Club Rewards VISA. This is the first partnership between a
Chinese bank and IHG for which customers earn points on spending,
double points on spending in IHG hotels and bonus points upon activation.
Points can be redeemed for free stays in any of IHG’s 66 hotels in China,
more than 3,700 hotels worldwide and discounts with 40,000 special
merchants of the Citigroup. Priority Club Rewards has over 33 million
members globally, 600,000 of whom reside in mainland China, and IHG
has a monthly average growth of 15,000 Chinese members. IHG also owns,
manages, leases or franchises over 3,700 hotels and 558,000 guest rooms
in nearly 100 countries and territories.

Details

GE Money Profits Rise 8% Despite WMC

GE reported that revenues for its Consumer Finance unit, now known as GE Money, climbed 17% in the second quarter to $6.1 billion. However, profits grew by 8% to $952 million, compared to one-year ago. despite a loss at its U.S. mortgage business, WMC. GE made the decision to exit this business and substantially reduced its exposure by selling $3.7 billion of WMC loans in the quarter. During the second quarter, GE Money has signed a deal to be the exclusive issuer of the “Lowe’s Platinum VISA” credit card and to continue providing private label and co-branded credit programs for Lowe’s Companies; Ohio-based The Andersons retail stores and GE Money have signed an agreement to extend its 10 year relationship with the “Andersons Credit Card” consumer financing program; GE Money and eBay announced plans to launch an “eBay MasterCard” in June; and the new Wal-Mart “MoneyCard” is being launched nationally with GE Money. For complete details on GE’s second quarter performance, visit CardData ([www.carddata.com][1]). (CF Library 5/2/07; 5/22/07; 6/15/07; 6/20/07)

GE CONSUMER FINANCIAL TRACK RECORD
Income Revenues
2Q/06: $880 million $5268 million
3Q/06: $916 million $5590 million
4Q/06: $875 million $5811 million
1Q/07: $851 million $5807 million
2Q/07: $952 million $6145 million
Source: CardData (www.carddata.com)

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

Details

ICMA Intros Advanced Card Education

The International Card Manufacturers Association has introduced “Advanced Card Education”, the first accreditation program for the card manufacturing industry. The ACE designation is awarded to people with a broad and detailed knowledge of card manufacturing and processes who successfully complete a rigorous exam. Applicants must be working for an ICMA member company and have a minimum of three years experience working in the card industry in any of the following areas: Card manufacturing, personalization or service bureau or a supplier to the card industry. The first designation, “ACE-M”, covers basic card manufacturing; future designations planned include “ACE-A” (advanced technologies) and “ACE-P” (personalization). ICMA is a non-profit association of plastic card manufacturers, personalizers and related industry participants.

Details

Nomad Software Becomes Nomad Payments

OTP Bank has upgraded its network of nearly 2,000 ATMs to Level Four’s
“BRIDGE:test” ATM software. “BRIDGE:test” is an automated testing
solution for Windows-based ATM applications and will enable OTP 80%
time savings for end-to-end testing of ATM software applications. The
software is part of a suite of open ATM software products designed to
maximize ATM investment by saving time and money through interoperable
product components. The entire BRIDGE suite offers
solutions for installation, testing and monitoring as well as run-time ATM
software. OTP Bank has a network of 440 branches and nearly 2000 ATMs,
making it the largest retail bank in Hungary. Headquartered in Budapest,
the
bank has 8,200 employees supporting over 11 million customers in 9
countries.

Details

WaMu Q2 Credit Card Profits Down 22%

Seattle-based Washington Mutual reported that second quarter net income for its Card Services unit decreased 22% from the year-ago quarter to $141 million. The decrease in net income from prior periods was due to a higher level of provisioning from the quarter’s strong growth in period-end receivables and a reduction in noninterest income from the lower level of securitization activity in the second quarter. However, Card Services opened a record 928,000 new credit card accounts during the quarter with a third coming from WaMu customers. Managed card outstandings were $25 billion as of June 30th, compared to $21 billion one-year ago. At 5.11% of period-end managed receivables, the 30+ day managed delinquency rate was down from prior quarters due to the strong receivables growth in the quarter. Net credit losses of 6.49% during the quarter were up from prior periods with an increase in contractual and bankruptcy losses. For complete details on WaMu’s latest performance, visit CardData ([www.carddata.com][1]).

WaMu Net Income Track Record
2Q/06: $181.0 million
3Q/06: $207.0 million
4Q/06: $149.0 million
1Q/07: $256.0 million
2Q/07: $141.0 million
Source: CardData (www.carddata.com)

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

Details

PRECEDIA & GPN

Precedia Technologies’ POSLynx220 payment router has received Class B
certification allowing the integration with existing POS devices. This
will also
introduce the company’s payment engine, “TranNet,” to Global Payments
processing clients. “TransNet” seperates the payment function to
POSLynx220 and is ideal for PC-based systems to secure transactions.
Certified by Global Payments, POSLynx220 provides connectivity to a range
of POS equipment and IP payment options for merchants processing to
Global Payments. Precedia Technologies has customers in 85 countries.

Details

UATP Adds PayPal Option for SWA Tickets

UATP is helping to enable PayPal payments for online airline ticket purchases with the addition of Southwest Airlines. Through the UATP network of over 220 airlines around the globe, PayPal is able to use the network to connect to the airlines and process payments. Making payments by PayPal is easy; consumers can choose PayPal as a payment method and conduct what they see as a normal PayPal transaction. Airlines will process the payment like a UATP transaction through the existing network. UATP accounts are accepted as a form of payment for corporate business travel by airlines and travel agencies worldwide.

Details

Western European ATMs Expand 4.4% in 2006

GE reported that revenues for its Consumer Finance unit, now known as GE Money, climbed 17% in the second quarter to $6.1 billion. However, profits grew by 8% to $952 million, compared to one-year ago, despite a loss at its U.S. mortgage business, WMC. GE made the decision to exit this business and substantially reduced its exposure by selling $3.7 billion of WMC loans in the quarter. During the second quarter,
GE Money has signed a deal to be the exclusive issuer of the “Lowe’s Platinum VISA” credit card and to continue providing private label and co-branded credit programs for Lowe’s Companies; Ohio-based The Andersons retail stores and GE Money have signed an agreement to extend its 10 year relationship with the “Andersons Credit Card” consumer financing program; GE Money and eBay announced plans to launch an “eBay MasterCard” in June; and the new Wal-Mart “MoneyCard” is being launched nationally with GE Money. For complete details on GE’s second quarter performance, visit CardData (www.carddata.com). (CF Library 5/2/07; 5/22/07; 6/15/07; 6/20/07)

Details

VeriFone Boots an EVP Over Ethics

VeriFone yesterday confirmed has terminated the employment of William Atkinson, EVP, effective immediately. VF says information discovered by management shows that Atkinson had been soliciting VeriFone employees to join a competitor. Douglas Bergeron, Chairman and CEO will oversee Atkinson’s reporting responsibilities. The Company says it is not aware of any successful solicitations of current employees, nor is the company aware of any facts suggesting that Atkinson will be successful in joining a competitor.

Details

CEB & KALIGNITE

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 2007. The ATM
software provider is based out of Scotland and has partners and
customers in over 80 countries. CEB has 370 branches in 36 cities
throughout 23 provinces.

Details

CUP TELEPHONE POS

China UnionPay is planning to launch 100,000 telephone-integrating POS
terminals on its fixed line telephone payment system. Founded by over 80
Chinese financial institutions, China UnionPay has signed agreements with
China Telecom to provide the POS telephone solution. The solution is
designed to allow users to make electronic payments, pay credit card
bills,
transfer money, pay utility bills and purchase air tickets by swiping
his or her
bankcard through the phone.

Details