Citigroup Buys 20% of Akbank for $3 Billion

Citigroup and Akbank have signed a definitive agreement under which Citigroup will purchase a 20% equity position in Akbank for approximately $3.1 billion. Akbank has assets of $35.8 billion, loans of $17.7 billion and a deposit base of $22.7 billion. It is the third largest bank by assets and the most profitable banking institution in the country. Akbank currently has 674 branches and 1,551 ATMs. Citigroup is currently the 19th largest bank in Turkey by assets with approximately $2.1 billion in assets and $1.6 billion in deposits.

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JWARE Adds Compain to its Board of Directors

JWARE Technologies has appointed Gerard Compain, Chairman of Cadege Technologies, to its board of directors. JWARE specializes in
front-end software for card payments and secure transaction processing.
Compain has spent the last 17 years at the executive level with both Ingenico and Bull Payment Systems Division. The JWARE “Payment Suite” is already in production in several client sites in EMEA.

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CCS Fuel Cards Acquired by Fleetcor

Atlanta-based FleetCor acquired CCS. CCS is the number one fuel card operator in the Czech Republic, serving 23,000 fleets of all sizes. This is the second European fuel card provider acquired by FleetCor this quarter; they purchased Keyfuels, a leading fuel card operator in England, in early September. FleetCor is the worldwide leader in fuel card processing serving over 530,000 business Fleets in the US, Canada, and Europe. CCS was established in 1991 by its management team and is as serves Slovakia. CCS serves over 23,000 corporate customers. FleetCor serves over 530,000 business fleets in the U.S., Canada, and Europe.

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$$$ ON THE NET” Certified For Canada

Shift4 announced that its “$$$ ON THE NET” has been certified in Canada through Chase Paymentech Solutions to Interac. Interac debit is the most prevalent payment type used by Canadian cardholders. Shift4 meets the demand for Interac acceptance with a “$$$ ON THE NET” connection that provides the fastest route for a point-of-sale to have a certified Canadian debit solution with the least expensive development and ongoing support costs. Chase Paymentech Solutions, Canada is headquartered in Toronto, Ontario and is an affiliate of Chase Paymentech Solutions, LLC, USA. Shift4, a leading developer of secure financial transaction processing software and services, provides secure, web-based, real-time enterprise payment solutions for leaders in the hospitality, retail, foodservices, auto rental and e-commerce markets.

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Givex and Apriva Integrate Products

A card management company specializing in customer acquisition and retention products, and a major wireless solutions provider have integrated their products. Givex and Apriva have combined Givex gift card and loyalty program processing capabilities with Apriva’s wireless technology. Apriva now supports the full range of Givex gift and loyalty
transaction types which enables Givex to become Class A certified on the
“Apriva Intelligent Gateway” to process on Wireless and IP networks in
real time.

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GetNet Tecnologia Places a $15MM Vx Solutions Order

Network services provider, GetNet Tecnologia, has signed an order with
VeriFone “Vx Solutions” payment systems. The deal is valued at more than
US$15 million. Under this new agreement, GetNet is expanding its network
by using selected models of the “Vx Solutions” family, including the “Vx
510” in both dial and LAN configurations and the “Vx 610” with GPRS
connectivity. GetNet provides services for companies such as card
issuers and processors, petro distributors, banks, utility companies,
and telco top-up distributors, among others, acquiring transactions for
private label, credit and debit, check authorization, telco top-up,
utility and bill payment, fleet card, and others.

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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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