Saunders Named Chairman and CEO of VISA Inc.

VISA has officially named Joe Saunders as Chairman and CEO of VISA Inc. VISA’s regional boards of directors unanimously approved Saunders’s appointment after an extensive six-month search. Saunders previously had been named the designated Executive Chairman of VISA Inc.’s Board of Directors, a role he assumed in February. VISA plans to form VISA Inc. through a series of mergers involving VISA Canada, VISA USA and VISA International. VISA Europe will retain its member- owned association structure and will become a licensee of VISA Inc. Because VISA Inc. is not expected to be formed until later this year, Saunders is performing his duties as Chairman and CEO as a designated appointee of VISA Inc. Prior to becoming VISA Inc.’s Executive Chairman in February, Saunders served as President of Card Services for Washington Mutual. He joined Providian in 2001 as President and CEO, and was elected Chairman of its Board of Directors in 2002. From 1997 to 2001, he served as Chairman and CEO of Fleet Credit Card Services at FleetBoston.

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PayPal Allowed To Operate In Europe

Paypal has been granted a European Union banking license and can
now continue to offer services to online merchants throughout Europe.
Paypal hopes to eventually offer their service through most online
European retail sites. Currently, it has 35 million accounts and is offered
on more than 100,000 websites in Europe and supports payments
from 190 markets in 17 currencies. PayPal processed $8.4 billion of
total payment volume in Europe last year and research shows 23% of
European Internet shoppers prefer their service.

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Encore Capital Adds New Board Members

Encore Capital announced that Timothy J. Hanford, Co-Head of FPK Capital; Willem Mesdag, Managing Partner of Red Mountain Capital Partners; John J. Oros, Managing Director of J.C. Flowers & Co.; and J. Christopher Teets, Partner of Red Mountain Capital have joined Encore’s Board of Directors. These new members replace directors Raymond Fleming, Treasurer of Consolidated Press Holdings Limited, Eric D. Kogan, Partner of Clarion Capital Partners, and Peter W. May, President and Chief Operating Officer of Triarc Companies, who have resigned in connection with the previously announced acquisition of approximately 25% of Encore’s common stock by an investment vehicle jointly funded by affiliates of J.C. Flowers & Co. and FPK Capital in a transaction that closed on May 10, 2007. In addition, Mr. Hanford has been appointed to the Compensation Committee of Encore Capital Group’s Board. Encore Capital Group, Inc. is a purchaser and manager of charged-off consumer receivables portfolios.

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Experian Acquires Tallyman

Experian has acquired Tallyman debt collection to become part of the
company’s Decision Analytics division. Tallyman ensures that revenue
collection processes are aligned with company’s business’ objectives
and currently has over 40 clients using the solution to manage over 1.25
billion GBP in debt. The solution developed by the two companies
will allow organizations to add value by making the collections function
more efficient and impacting their overall profitability. Furthermore, the
new solution will improve the productivity of each action addressed to
individual customers.

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MasterCard and Home Depot Launch a Promotion

MasterCard and The Home Depot have launced the “$100,000 Backyard Retreat Sweepstakes.” MasterCard cardholders in the U.S. are automatically entered for a chance to win a “$100,000 Backyard Retreat” each time they use their MasterCard cards at The Home Depot between now and June 23rd. Consumers automatically receive double sweepstakes entries when using “The Home Depot Rewards MasterCard” or “The Home Depot Business Rewards MasterCard” cards. MasterCard and Home Depot are supporting the promotion with a fully-integrated media platform which will encompass print, online and radio and will appear in publications including: Better Homes & Garden, Real Simple, and Ladies Home Journal. The Home Depot is also supporting the promotion with point-of-sale materials in more than 2,000 retail stores nationwide.

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QNB Migrates Card Portfolio to PRIME 3

Qatar National Bank has announced the completion of its
card portfolio migration to TSYS’ merchant management service,
“PRIME 3”. With the introduction of “PRIME 3”, TSYS helped
the bank convert data from 81,000 card accounts, 32,000
customers and 2,300 merchants. The open architecture of
“PRIME 3” streamlines integration with existing bank and third
party interfaces, and offers multi-institution, workflow and
case-management features. The solution supports EMV
chip-card programs, web-services, and offers support from
TSYS Card Tech’s office in Dubai, and the company’s
24-hour support service facility.

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VISA INTL 2006

VISA International reported that total volume for its consumer debit and prepaid programs, including cash transactions, grew by 17% last year to $2.68 trillion. This compares with a total volume of $2.29
trillion for the same period in 2005. Debit and prepaid now account for
60% of VISA global total consumer volume and over 67% of the number of VISA transactions, based on total consumer volume of $4.4 trillion and 59.9 billion total transactions. During 2006 VISA launched a prepaid loading network in the U.S., enabling users to add value to their VISA prepaid cards through a network of more than 60,000 everyday shopping locations such as supermarkets, drugstores and discount retailers.

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GCA To Provide Cash Access to Partouche

Global Cash Access(GCA) has announced that it will be providing
Partouche Group casino customers with cash access. In doing so,
GCA will install “QuickCash” kiosks in the casinos and credit card
cash advance transactions through cashiers, whom will be using
the GCA “QuikCash Plus Web browser”. The GCA “QuikCash Plus
Web browser” speeds transactions, thus improving customer service.
GCA provides over 1,000 casinos around the world with cash access
products for their patrons.

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CPI Launches a Contactless Initiative

CPI Card Group, Inc. has developed a new contactless payment card “Kick Start” initiative for first-time MasterCard PayPass issuers to encourage issuers to commit to their first deployment of PayPass in 2007. Issuers who place their first orders for PayPass-enabled cards before the end of Q2 will receive substantial pricing discounts. The program will feature cards manufactured by CPI using INSIDE Contactless’ MicroPass L4-2G platform with a Smartrac half-size antenna. Not only will issuers benefit from the lower cost per card, they will receive program deployment support for initial and follow-on deployments from CPI. The special considerations associated with the program are for commitments received prior to June 30, 2007. CPI Card Group is a manufacturer of plastic cards.

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Internet Consumer Confidence Picks-Up

A new survey shows that users who felt confident when using the Internet increased from a confidence index of 39.0 to an index of 39.9. However, while the overall confidence score had increased, consumers in the U.S. and France indicated that their confidence had dropped from an index of 44.4 and 41.1 respectively in August to 43.8 and 39 in February. The Trend Micro survey also found that the increase in confidence was led by the U.K., Germany and Japan, each of which demonstrated an increase. Of these, the UK showed the most notable increase in confidence, from 42.2 in August to 46 in February. The survey also found that a vast majority of consumers still use credit cards to make purchases over the Internet and bank online.

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PayPal Lands Zippi Networks’ Business

San Jose-based Zippi Networks has signed an agreement with PayPal to process all of Zippi’s online auction sales transactions. Zippi Networks is an integrated service provider and has introduced a mobile franchise opportunity, drop-off stations and the Zippi Affiliate Network, replacing rapidly shrinking margins on sales with a commission-based opportunity that allows an entrepreneur to network with other sellers to increase commissions. PayPal, an eBay company, enables any individual or business with an email address to send and receive payments online securely and easily using a bank account, credit card or stored balance.

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