Smart Card Market to Reach $314.9 million by 2011

A new study has determined that the revenue for the Brazilian smart card market totaled $125.9 million in 2005 and is expected to reach $314.9 million in 2011. The Frost & Sullivan report says key markets promoting this development in Brazil are the GSM and transit
markets accounting for over 85% of the total smart card unit
shipments. The subscriber identity module (SIM) cards account for over 60% of the total smart card market revenues. Microcontrollers
accounted for 70% of the total units shipped, as payphone cards are
not utilized in the country.

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NETELLER Launches in Denmark and Sweden

Online money transfer specialist, NETELLER, is formally launching two new country specific versions of its service in
Denmark and Sweden. The formal launches of the two new localized versions of the Company’s service in Denmark and Sweden represent the fifth and sixth new European products launched this year. The Company, which has customers in over 160 countries, launched sites in Germany, France, Spain and Italy earlier this year and expects to announce more localized services in the next few months. The Company also confirms its position regarding the “US SAFE Port Act.” The Company expects to have a clearer view of how financial services companies can comply and any possible resulting impact on its business as the regulations are drafted in the 270 days following the signing of the “Act.”

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Standard Bank Group Selects CR2’s BankWorld

Standard Bank Group and CR2 have signed an enterprise agreement for the deployment of CR2’s “BankWorld” integrated channel banking solution. Standard Bank will use “BankWorld” to manage its ATM,
Internet and mobile phone banking channels for the bank’s operations
throughout Africa, other than South Africa. Standard Bank has been a CR2 client for 12 years.

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New Media Management Selects Wirecard

Wirecard has been awarded a contract by neu.de,
a subsidiary of New Media Management, for the handling of payments
on its international Internet portal. The project for handling credit card and direct debit payments has been implemented for the www.NEU.de community, which is available in more than 5 languages and 100 countries. NEU.de has more than 3.8 million members and is one of the largest Internet communities in Europe. The Wirecard software platform is being used by more than 6,000 enterprises worldwide.

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Pay Linx Uses CardWizard for Prepaid Government Cards

Pay Linx is now using Dynamic Card Solutions’ “CardWizard” technology to provide government institutions with the ability to instantly issue pre-paid debit cards. “CardWizard” provides instant issue software along with a user-friendly administration component that allows for full reporting, card inventory management and security. Additionally, DCS enables card owners to select their own PIN,
eliminating delays and allowing for immediate use. DCS is also developing new software to meet the demands of Pay Linx costumers for a user-selected paper-based pinning solution. The new product should be available in December.

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TSYS Card Tech Names a New Manager

TSYS Card Tech has promoted Michalis Michaelides as
Business Development Manager. Michaelides will be responsible for managing the expansion of TSYS Card Tech’s existing client
portfolio, developing new business opportunities and strengthening business alliances in Central and Southern Europe, India and Pakistan.
TSYS acquired Card Tech Limited in July and renamed the it as TSYS Card Tech. Michaelides worked for CTL for 11 years. (CFI Library 7/11/06)

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Caja de Gipuzkoa y San Sebastian Adds NCR ATMs

Caja de Gipuzkoa y San Sebastian has signed a deal with
NCR to incorporate more than 60 new “Personas 76 M Series” ATMs in its
network. The ATMs have image-based deposit functionality. The units
integrate NCR’s “No Envelope” deposit technology that recognizes notes
inserted directly into the ATM without a deposit envelope, and offers a
printed proof of the transaction on the customer’s receipt.

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BofA’s Card Profits Triple Year on Year

Bank of America reported that Card Services had revenue of $5.33 billion, an increase of 137% compared to the third quarter of last year and net income more than tripled to $1.48 billion. Managed card loans at the end of the third quarter increased 7% year-on-year to $194.9 billion. Third quarter credit card services charge-offs were 4.11%, compared to 3.59% in the prior quarter and 4.76% one year ago. The managed 30+ day delinquency rose to 4.90%, compared to 4.56% in the second quarter and 4.49% for 3Q/05. BofA also reported that its merchant acquiring business handled $97.0 billion in processing volume during the third quarter from total transactions of 2.1 billion. (BofA now includes consumer finance, international card operations and merchant services in reporting Card Services.) Debit card income increased 24% from the same quarter last year to $502 million and purchase volume grew 19% to a record $42.86 billion. For complete details on Bank of America’s 3Q/06 performance, visit CardData ([www.carddata.com][1]).

BOFA/MBNA EOP CARD LOAN HISTORICAL
3Q/05: $182.6 billion
4Q/05: $189.3 billion
1Q/06: $184.9 billion
2Q/06: $190.1 billion
3Q/06: $194.9 billion
Source: CardData (www.carddata.com)

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

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AUG DEBT

Credit card debt soared to a new record, slightly topping A$37.0 billion in August. Credit card volume hit its second high for the year after declining for two consecutive months. Card volume hit A$16.5 billion during August, compared to A$15.4 billion in July. During the past twelve months, credit card debt has increased 16% in Australia. For August, credit card balances increased A$300 million from the previous month. One-year ago credit card debt stood at A$31.8 billion. Gross dollar volume on credit card and charge cards was A$15.3 billion one-year ago. Year-on-year credit card volume has increased 8% in Australia. Card credit limits reached A$99.8 billion at the end of August, compared to A$88.4 billion for August 2005. There are currently 13.1 million credit card and charge card accounts in Australia, compared to 12.2 million one-year ago.

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Discover Launches a Cashback Bonus Promo

Discover has launched the “Make the Holidays More Entertaining” “Get More” program offering a 5% “Cashback Bonus” for purchases made at restaurants, movie theatres and movie rental stores, and at Amazon.com, Borders, and other participating retailers through the end of the year. The Get More program is free to Discover Cardmembers. It offers the opportunity to earn 5% Cashback Bonus all year long in over 15 different categories that align with consumers’ top seasonal shopping needs. Just as their shopping needs change, so do the categories – four times a year – so Cardmembers earn the most cash based on where they want to shop and use credit. Discover Financial Services LLC, a business unit of Morgan Stanley (NYSE: MS), operates the Discover Card with more than 50 million Cardmembers, and the Discover Network with more than 4 million merchant and cash access locations.

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Cash Systems Signs a Deal with TSYS

Cash Systems has signed a deal with TSYS Acquiring Solutions to enable the Company to begin processing it own credit card transactions. TSYS Acquiring Solutions is the preeminent supplier of acquiring solutions, related systems and integrated support services to the acquiring industry and its customers. Cash Systems, Inc., located in Las Vegas, with additional offices in San Diego and Minneapolis, is a provider of cash-access and related services to the retail and gaming industries.

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Obopay Goes Live on Amp’d Mobile Devices

Obopay has delivered the first operator-supported mobile payments service in the USA. The service went live on all Amp’d Mobile devices this week. As part of the service, Amp’d Mobile device users will be able to send money to any mobile phone number and instantly receive money from any Obopay user. The service also comes with an Obopay companion prepaid debit MasterCard. Amp’d Mobile is the first integrated mobile entertainment company for youth, young professionals and early adopters, and the only third generation (3G) carrier in the U.S. specifically targeting that demographic. Obopay, found last year, has a management team comprised of former executives from VISA, Microsoft, Yahoo, Expedia, AT&T Wireless, Western Union, First Data, Norwest Bank and Chordiant Software.

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