BP & CITIBANK

BP Australia and Citibank have teamed up to launch a co-branded
MasterCard. The “BP-Citibank MasterCard” offers a 5% discount on every product at every BP service station across the country. In addition to saving money at BP, cardholders are entitled to a 1% rebate on everything they purchase using the card, anywhere in the world. There are nearly 1,400 BP service stations across the country.

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OTI Revenues Jump 32% over 2Q/05

Contactless specialist, On Track Innovations, reported second quarter revenues of $10.3 million, a 32% jump over 2Q/05. The Company’s net loss dropped to $2.0 million for the second quarter, compared to $3.0 million in the year ago period. During the quarter, MasterCard, the Metropolitan Transportation Authority, and Citibank announced the beginning of a six-month contactless payment trial in select New York City subway stations with pre-selected Citi credit card and Citibank customers. The new payment tags leverages technology from OTI. Also, Chinatrust Commercial Bank, one of the largest credit card issuers in Taiwan, LAKS, a well-known Austrian watchmaker and OTI are supplying payment watches as part of “2006 FIFA World Cup” promotion for MasterCard “PayPass.” OTI says it expects total revenue in the second half to be slightly higher or about the same as the first half, owing to a slight delay in the banks’ roll-out schedule for their internal reasons, which will affect OTI’s payments business. For complete details on OTI’s latest performance visit CardData (www.carddata.com).

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ICBC Places a $2.5MM Follow-On Order with Lipman

The Industrial and Commercial Bank of China has signed a deal with Lipman for a $2.5 million follow-on contract for “NURIT 8320”
and “NURIT 8000” POS terminals and “NURIT 222” PIN Pads. CNPC will be using these additional terminals to extend the project from the initial 8,000 petrol stations to more than 14,000 stations, resulting in one of the largest POS terminal deployments in China to date.

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Argencard to be Acquired by First Data

First Data International has signed an agreement for the
acquisition of Argencard. Buenos Aires-based Argencard is a provider of
card issuing and merchant acquiring processing services supporting more
than 70 banks with nine million cardholders and over 150,000 active
merchants. The company is an acquirer of MasterCard, Maestro and JCB in Argentina and Uruguay, and also delivers, through its subsidiary POSNET, point of sale services for more than 60,000 merchants and 75 credit card issuers of private label cards. The deal is expected to close by year end.

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Bankruptcy Filings Pass 60K Per Month

Bankruptcy filings have now risen to about 14,000 filings per week compared to approximately 8,000 filings per week six-months ago. One-year ago filings averaged 35,000 per week level, prior to the full implementation of the “Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.” During July filings neared 63,000, the highest level since October when the reforms went into effect. The number of filings in the first quarter is the lowest number of quarterly filings in the last 20 years.

MONTHLY FILINGS
Nov 05: 21,457
Dec 05: 32,480
Jan 06: 34,411
Feb 06: 39,636
Mar 06: 42,724
Apr 06: 44,989
May 06: 43,780
Jun 06: 54,937
Jul 06: 62,986
Source: CardData (www.carddata.com)

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Most Americans Pay Minuscule Bank Fees

A new survey shows that 57% of consumers spend $3 or less in monthly fees for banking services. The poll by the American Bankers Association also found that within that group, 43% said they pay no monthly fees at all. The research found that 12% pay between $3 and $6; 6% between $6 and $8; 8% between $8 and $10; and 15% said they pay more than $10 per month. The survey of 1,000 consumers was conducted for ABA by Ipsos-Reid on July 10th to 12th.

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JetBlue & AmEx Extend Life of Miles

While the frequent flyer programs run by discount airlines pale in comparison to the programs run by American, United and Delta, NY-based JetBlue is enabling cardholders of its American Express co-brand to extend the life of their “TrueBlue” points. Users of the “JetBlue Card from American Express” can automatically extend the life of their points by 12 months each time they purchase as little as $200 on their “JetBlue Card” or by using the “JetBlue Card” to purchase JetBlue travel, before current points expire. AmEx also announced it will automatically extend the expiration date of every single JetBlue cardholders’ “TrueBlue” points through August 16 2007. The “JetBlue Card from American Express” was launched in July last year. The card offer “Award Dollars” that can be automatically transferred to a Cardholder’s “TrueBlue” account and then redeemed for award flights on JetBlue. Other discount carriers, like Airtran, typically have a 12-month expiration on loyalty miles.

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