No Envelope ATM Deposits Come to Maine

Kennebec Savings Bank of Augusta, ME has become the first savings bank in New England to offer image-based “No Envelope Deposit” technology on NCR ATMs. Using NCR’s ImageMark Passport technology, Kennebec Savings is quickly capturing check images both at the ATM and at the branch back counter using tabletop scanners. These transactions are sent to NCR’s ImageMark NCompass platform where they are processed using sophisticated balancing and error detection tools designed to reduce back-office time, eliminate processing errors and flag questionable transactions for investigation. Kennebec Savings Bank is a $607 million state-chartered mutual savings bank with a team of 77 employees and branches in Augusta, Waterville, and Winthrop, as well as KSB Anytime, the Savings Bank’s new 24-Hour Electronic Banking Center in Manchester, Maine. NCR Corporation (NYSE:NCR) is a leading global technology company helping businesses build stronger relationships with their customers.

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Chase Tops 8,300 ATMs After the BONY Deal

Chase has completed the acquisition of more than 400 Bank of New York ATMs in a deal that includes BONY’s consumer, small-business and middle-market banking businesses. The former Bank of New York customers now can withdraw cash and check account balances without a usage fee at more than 2,200 ATMs, including Duane Reade locations, in New York, New Jersey and Connecticut. The Bank of New York branches will be converted to the Chase brand and computer system in the spring of 2007, creating an unparalleled Tri-State network of more than 750 Chase branches and more than 2,200 Chase ATMs. Chase is the U.S. consumer and commercial banking brand of JPMorgan Chase & Co..

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TSYS Signs First Card Issuer Agreement

TSYS has landed its first processing relationship with a card-issuer in
Japan. TSYS will support a new co-branded VISA to be offered by Toyota
Finance and Nikko Cordial Securities. Next month, Toyota Finance will
issue the “VISA Platinum” cards for customers of Nikko Cordial
Securities. The card will be linked to the customer’s brokerage account
facilitating the cash access via domestic ATMs and purchase transactions
in Japan and overseas. Given the fact that many Nikko Cordial customers
hold accounts in more than two currencies, cardholders can settle with
yen-based account for domestic transactions and with U.S.-dollar-based
account for overseas transactions. TSYS is the only third-party payments
processor in Japan that currently offers multi-currency and
multi-function support.

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Binge Spenders Split Between Men & Women

A new survey has found that nearly as many men as women experience “compulsive buying disorder.” The research by the Stanford University School of Medicine also found that more than one in 20 adults in the U.S. suffers from the condition. Prior to the study, researchers estimated that compulsive buying disorder affected between 2% and 16% of the U.S. population and that 90% of sufferers were women. “Compulsive buying disorder” is not the same as occasional “impulse buying,” which many people engage in. Sufferers go on frequent shopping binges and accumulate large quantities of unnecessary, unwanted items. They also often rack up thousands of dollars in debt and lie to their loved ones about their purchases. The researchers found that 6% of women and 5.5% of men had symptoms consistent with “compulsive buying disorder.” The gender-adjusted prevalence rate was 5.8%.

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Western Union Begins Trading Today

The Western Union Company completed its spin-off from First Data on Friday with shares of its common stock trading on the NYSE under the symbol “WU” this morning. The stock is trading around $19 per share. The newly independent company will be a member of the S&P 500. Western Union President and CEO Christina Gold will ring the opening bell at the NYSE on Wednesday. Western Union also announced that the company’s Board of Directors has approved a stock repurchase program that authorizes the purchase of up to $1.0 billion of Western Union common stock prior to December 31, 2008. In connection with the spin-off, the company secured $3.5 billion of debt financing. First Data’s new primary segments include Financial Institution Services, Commercial Services and First Data International with annual revenues of $7 billion.

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VeriFone and Lipman Gear-Up to Close Merger

VeriFone and Lipman announced the anticipated timetable for
remaining key events leading up to the completion of VeriFone’s pending
acquisition of Lipman. As previously announced, each company’s
shareholders approved the transaction and the parties expect to complete
the merger on November 1 following expiration of a mandatory waiting
period under Israeli law. The final trading day for Lipman stock will be Wednesday, October 25th.

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BofA and VISA Sign a Deal Through 2011

Bank of America and VISA USA have signed a six-year partnership agreement that runs through 2011. Bank of America is currently the largest issuer of VISA-branded payment cards. The agreement will be retroactive to January 1st, 2006. BofA has had a 30-year card issuance relationship with VISA. BofA has about 116 million cardholders and 90 million credit card accounts. Debit card purchase volume topped a record $42 billion in the second quarter, an increase of 22% from the second quarter of last year. For complete details on Bank of America’s 2Q/06 performance, visit CardData ([www.carddata.com][1]). (CF Library 7/19/06)

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

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Ingenico I-Series Class B Certified

Ingenico has received “Class B” certification on the “i7780,” “i5100” and “3010” PIN Pad from Chase Paymentech Solutions. The “7780” is a short-range portable transaction terminal for credit, PIN debit, stored value and EBT payment. The “i5100” is an IP-enabled countertop transaction terminal capable of operating in either dial or IP communication modes. The certified application was custom developed for Chase Paymentech by Ingenico and includes a host of features to allow payment benefits for a wide range of industries including retail, restaurant, convenience stores and more.

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AUG DEBT

Credit card outstandings declined in August, dropping by GBP 311 million after hitting a record level in July of GBP 55.7 billion. Overall, the increase in *consumer credit of GBP 800 billion* was lower than in July. According to the The Bank of England, *net **other loans and advances *rose by GBP 1.1 billion. The annual growth rate of consumer credit continued to fall, to 6.6% in August, and the three month annualized growth rate fell by 90 basis points to 5.1%.

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Experian Expands Credit Bureaus With an Acquisition

Experian has expanded its Canadian operations by acquiring Quebec-based Northern Credit Bureaus. This extends the number of countries in which Experian operates consumer credit bureaus to 13.
Consumer borrowing levels in Canada have increased substantially in recent years. Experian says with total consumer debt now exceeding total
personal disposable income, financial institutions, credit grantors and
retailers need better alternatives for data and tools to manage their
businesses.

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