TIO Network’s Gross Profit Soars 84%

TIO Networks reported that quarterly revenue increased 40% to $3.6 million. For the quarter ending April 30th, the Company also posted gross profit of $1.6 million, up 84% from the year ago quarter. TIO reported more than 1.1 million revenue-generating transactions for the quarter. The number of TIO devices deployed or TIO Express locations signed jumped from 912 for 1Q/06 to 2,406 for the most recent quarter. The Company says that new lines of distribution are accelerating its growth potential. TIO Networks operates in more than 2,000 locations and provides secure access to bill payment and other key financial services. For complete details on TIO Networks’ performance, visit CardData ([www.carddata.com][1]).

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

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NETS & MEPS

Through its participation in the Network for Electronic Transfers
and its counterpart in Malaysia, the Malaysian Electronic Payment System, the Oversea-Chinese Banking Corporation Limited can now offer its Singapore customers ATM access in Malaysia. The bank’s
participation in the NETS-MEPS agreement allows customers access to over
2,800 ATMs in Malaysia and customers of participating Malaysian banks will have access to 370 ATMs in Singapore. This development is significant considering nearly 9.66 million trips were made from Singapore to Malaysia and 634,000 trips were made from Malaysia to Singapore in 2006. NETS and MEPS offer financial electronic services in Singapore and Malaysia.

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Wirecard Announces Membership To IATA

Wirecard has joined the International Airline Transport Association
in addition to the 17 other technology companies currently
in the association. Wirecard will contribute payment expertise and
development in the air transport industry with this new development
through IATA committees and initiatives. The IATA has a total
membership of 240 airlines with commercial standards that contribute to
the development of the global airline industry. The Wirecard AG
software platform is used by over 7,000 companies.

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Pre-Approved Card Offers Response Grows

A recent survey has found that the number of U.S. consumers who applied for a credit card through a pre-approved direct mail offer jumped from 39% in 2005 to 60% in 2007. Nearly half of Americans received their newest piece of plastic through a pre-approved credit card offer. Auriemma Consulting Group says although branches, the Web and direct-response TV also court consumers, mail still generates the greatest success. The research also showed that Americans who acquired cards through pre-approved mail offers received an average credit line of $8,002. ACG also surveyed U.K. consumers and found that British consumers apply for credit cards primarily through untargeted materials such as take ones available at teller counters. Only 28% have ever replied to a pre-approved direct mail offer and just 15% applied for their most recent credit cards this way.

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LMD PAYROLL CARDS

LIGA Municipal Dominicana has inked a deal to offer payroll cards from San Diego-based Global Pay Solutions to its 70,000 municipal
workers. Global Pay says it expects to earn about $2.5 million annually from the deal. The payroll services program will be directly managed by GPSI
Dominicana, a division of GPSI operating in the Dominican Republic. GPSI
Dominicana will be supplying payroll card services to the LMD’s
municipal workers throughout the 31 provinces in the Dominican Republic.
GPS’s payroll cards will provide workers with access to their funds
through ATMs throughout the world, as well as additional goods and services. Global Pay offers the “TRIO Card” which integrates cell phone top-off, prepaid long distance and complete signature and PIN based transactions into one reloadable, reusable instrument. The card can be used worldwide at over 900,000 ATM’s and over 1,200,000 retail locations via the MasterCard/Maestro/Cirrus and STAR Network. Through licensing agreements, non-U.S. banks can produce the “TRIO Card” for distribution as payroll products in literally every country. Future arrangements will allow for retail distribution of the TRIO card.

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First National Omaha Offers Fee-Less Card

First National Bank of Omaha has introduced a no-annual fee credit card devoid of late fees, over-limit fees, balance transfer fees and cash advance fees. The new “Purity Platinum Edition VISA” also offers a 9.99% fixed interest rate. However, the cash advance interest rate is 23.82% and the penalty interest rate is up to 31.82%. According to CardData, First National Bank of Omaha has about $4.5 billion in outstandings and more than four million credit card accounts linked to about 5.5 million cards.

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ESPIRIT & CHECK 21 CHINA

After considering the acquisition of International Express Payment
(IEXPay), Espirit Financial Group has decided to purchase the
establishment’s sister company, Check 21 China. Espirit cites the
company is better suited for acquisition, considering the business
plans in place, and more likely to meet short term strategic needs than
IEXPay. Furthermore, Espirit expects a quick investment return with
Check 21. Espirit’s consideration for purchase of either of the companies
first came with the desire to access the China market. Espirit expect to
see results with Check 21 as early as next quarter.

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VISA Files its First SEC IPO Documents

VISA’s charge to launch an initial public offering remains on track as the network filed details of its plan with the SEC on Friday. The filing initiates a formal SEC review process. The participating members of the boards of directors of each region and VISA International unanimously approved the global restructuring agreement, which contemplates a series of transactions through which VISA International, VISA USA, VISA Canada and Inovant will become subsidiaries of VISA Inc., a single, global company. VISA Europe will remain a membership association and will become a licensee of, and own a minority interest in, VISA Inc. Once the SEC has completed its review VISA will undertake a global process to seek member approval of the restructuring. At that time, voting members will receive a definitive proxy statement-prospectus. The proxy statement-prospectus will serve as VISA’s primary tool for explaining the details of the proposed restructuring. Voting members will then be asked to review the proxy statement-prospectus carefully and approve the restructuring agreement proposed within it. Last month VISA officially named Joe Saunders as Chairman and CEO of VISA Inc. (CF Library 5/15/07)

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HSBC ATM Cards To Operate On China Unionpay

Gemalto has implemented smartcard technology with Financial Information
Network & Operations Ltd (FINO) enabling microbanking to be authorized
with the use of biometric authentication. This development is aimed toward
the rural population in India with the ability to store transaction
records on the
smartcard, including 15 different types of applications that facilitate
financial
services such as deposit remittances, savings, loans, insurance and
e-purses.
FINO provides core banking technology solutions for low-income households
of India and acts as a business correspondent of large institutions,
serving an
estimated 500 million people. Gemalto provides digital security with 2006
annual revenues of 1.7 billion euro, has operations in about 100
countries and
more than 10,000 employees.

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