Global Cash Adds Five More UK Casinos

Global Cash Access has signed new agreements with five properties in the United Kingdom for its cash access products including ATM technology. All properties, with the exception of Thistle Hotel, will use GCA’s “QuikCash” cash advance terminals and “QuikCash Plus” (QCP) Web. “QuikCash” cash advance terminals provide patrons with point-of-sale (POS) debit card and credit card cash advance transaction options, while QCP Web is a proprietary browser-based, full-service cash access transaction processing system for casino cashier operations. The Thistle Hotel will offer GCA’s Central Credit, a source for gaming credit information with a proprietary database of gaming patron credit history and transaction data on millions of gaming patrons worldwide.

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Purepay Seeks Payments Company Deals

OH-based Purepay says it is entering the payments private equity marketplace seeking companies involved in cash management, Check 21, ARC, remote capture, stored value cards, payments BPOs, ACH platforms, mobile banking and micro payments. Purepay will utilize this methodology to acquire smaller to mid-sized payments vehicles with unique capabilities, and work with management teams to extend capabilities and accelerate growth.

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NACHA Accredits 668 Payments Pros in 2006

NACHA reports it has accredited or re-accredited 668 payments industry professionals last year under the “Accredited ACH Professional” program. The current number of AAPs nationwide is now at an all-time high of 3,036, and has increased by 85% since 1999. Four hundred forty-three payments professional earned the “AAP” designation by passing the national “AAP” examination in October. Of those, 33 received 5-year re-accreditation. An additional 225 payments professionals received re-accreditation in 2006 through NACHA’s continuing education program. “AAP” accreditation is valid for five years.

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VISA USA Hits 6K Transactions Per Second

VISA USA reports that on December 23rd, the payment network’s data centers cleared and settled a record $9.8 billion. Also, the payment network’s data centers processed a record 6,803 transactions per second, sustained over a one-hour period on December 22nd, a 7% increase from the previous year. VISA also says retail categories that experienced the strongest year-over-year sales increases during the holiday shopping season included drugstores/pharmacies, electronics and home furnishings stores and restaurants. VISA says its volume also showed that the holiday season turned out to be softer than many had predicted.

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Payment Data Systems Q4 Volume Up 143%

San Antonio-based Payment Data Systems reports that its November credit card processing dollar volume increased 119% from the comparable month one year ago, as transaction volume grew 95% year-over-year. December experienced similar gains with dollars processed gaining 114% over the comparable month one year ago and transaction volume growing 85% over December 2005. Volumes for the fourth quarter of 2006 outpaced those of the prior year quarter by 143% for dollars processed and 234% for transactions processed.

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Monthly Payment Rates Heading South in 07

Monthly payment rates, the amount that cardholders pay on their credit card debt, headed north to 19.82% in November, but remain well below the average rate for the year. Payment rates reached nearly 22% during 2006 driven by increased minimum payments and a robust economy. However, the overall trend in payment rates is headed down for 2007 as borrowers are increasingly pressured by current economic factors. According to FitchRatings, the gross yield increased 39 basis points in November to 17.96%, and is seven basis points above year-ago levels. Fitch expects gross yield to remain stable as payment rates decline.

ABS METRICS
YIELD MPR
Apr 06: 18.81% 21.74%
May 06: 17.61% 19.14%
Jun 06: 17.97% 21.00%
Jul 06: 17.63% 20.71%
Aug 06: 17.86% 20.24%
Sep 06: 17.96% 21.06%
Oct 06: 17.58% 19.30%
Nov 06: 17.96% 19.82%
Source: FitchRatings

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OCT DEBT

Credit card debt soared to a new record, hitting A$37.3 billion in October. Credit card volume also regained strength, approaching the record high set in August. Additionally, credit card limits reached a new high, topping A$100 billion for the second consecutive month. Card volume increased to A$16.4 billion during October, compared to A$15.4 billion in September and a record A$16.5 billion in August. During the past twelve months, credit card debt has increased 15.5% in Australia. For October, credit card balances increased A$100 million from the previous month. One-year ago credit card debt stood at A$32.3 billion. Gross dollar volume on credit card and charge cards was A$14.5 billion one-year ago. Year-on-year credit card volume has increased 11% in Australia. Card credit limits reached A$101.8 billion at the end of October, compared to A$89.5 billion for October 2005. There are currently 13.2 million credit card and charge card accounts in Australia, compared to 12.4 million one-year ago.

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Kwik Trip Selected Ingenico’s PIN Pad

Kwik Trip has selected the “Ingenico i6550” as its next generation PIN pad, deploying over 1,100 of these terminals throughout its convenience store chain this year. Ingenico devices interface seamlessly to Kwik Trip’s point-of-sale system, Pinnacle’s Palm POS, to enable secure payment processing. Kwik Trip, Inc. (www.kwiktrip.com) is one of the nation’s leading convenience store chains, having 368 Kwik Trip, Kwik Star, Hearty Platter, and Tobacco Outlet Plus stores throughout the Midwest. Ingenico products leverage proven technology, established standards and unparalleled ergonomics to provide optimal reliability, versatility and usability. The Pinnacle Corporation (www.pinncorp.com) is a leader in the automation technology industry focusing on the rapidly evolving convenience store and petroleum industries.

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ClickandBuy Adds More U.S. Online Stores

ClickandBuy continues to expands its U.S. presence with the addition of three independent online music stores. Globally, about 7 million consumers and more than 6,000 online merchants use the ePayment service. The service is available in 13 European countries and the U.S. The three new U.S. merchants include Icarus Music Store, Gambit Music Group and BeatRecords. ClickandBuy offers a hosted digital commerce system and provides different types of payment methods, including yearly subscriptions, micropayments or single downloads of songs.

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Credit Card Delinquencies Continue to Build

Credit card delinquencies of 60 days or more continued to build for the third consecutive month. Slowing income growth, declining home prices, and a weaker manufacturing environment are driving factors behind the recent rise. According to the latest “Fitch Credit Card Index,” “prime” delinquency, among credit card-backed securities increased to 2.50% in November, compared to 2.40% for October and 2.33% for September. One-year ago delinquency stood at 2.09%.

ABS HISTORICAL
Month Delinquency*
Nov 05: 2.09%
Dec 05: 2.54%
Jan 06: 2.26%
Feb 06: 2.09%
Mar 06: 2.34%
Apr 06: 2.37%
May 06: 2.41%
Jun 06: 2.28%
Jul 06: 2.30%
Aug 06: 2.36%
Sep 06: 2.33%
Oct 06: 2.40%
Nov 06: 2.50%
*60 days or more past due
Source: Fitch Ratings

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