Scotiabank Launches Commercial Card Program

Scotiabank’s Global Transaction Banking unit has launched the “Wholesale Investment Account” and “Commercial Card” program. The “Wholesale Investment Account” is a high-yield savings account that incurs no fund management fees or administrative expenses. The Wholesale Investment Account is targeted to business clients with US $20-million or more in deposits, who invest their funds for periods of at least 30-days. The account will offer a competitive return on surplus cash and will maximize short term investment yields. In addition to new investment options, VISA U.S.A.
Inc. has recently given Scotiabank approval to offer its successful
Commercial Card expense management program to both U.S.-based multinational clients and domestic-only U.S. corporate accounts.

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Advanta’s Biz Card Profits Double

Business card specialist Advanta posted a 17% rise in managed outstandings during the first quarter to nearly $3.9 billion. Advanta’s Business Card unit earned net income of $21.7 million as compared to $11.2 million for first quarter 2005. During the first quarter, Advanta opened 82,617 business card accounts and ended the quarter with 921,841 gross accounts. About 70% of the accounts were active. Transaction volume increased 26% to $2.7 billion during the first quarter. Charge-offs plummeted from 6.68% in the fourth quarter to 3.62% for the first quarter. Over 30 day delinquencies on managed receivables declined five basis points to 2.91% and over 90 day delinquencies on managed receivables decreased seven basis points to 1.29%, compared to the first quarter of last year. For complete details on Advanta’s first quarter performance, visit CardData ([www.carddata.com][1]).

ADVANTA’S CARD PORTFOLIO SNAPSHOT
Period Card Loans
1Q/05: $3.35 billion
2Q/05: $3.51 billion
3Q/05: $3.60 billion
4Q/05: $3.76 billion
1Q/06: $3.89 billion
Source: CardData (www.carddata.com)

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

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OBERTHUR 1Q/06

Oberthur Card Systems reported that during the first quarter the company delivered more than 56 million smart cards a 29.4% increase compared to the year-ago quarter. However, in the payment cards market the number of card delivered declined 18% due to the end of the “chip & PIN” program in the UK. Sales of payment cards amounted to 24.7 million euros, a 23.4% decrease. Oberthur also notes that the contactless payment card segment continues to develop favorably in the first quarter with deliveries of several million units, driven by large-scale deployments in North America. Sales of magnetic stripe cards, scratch cards and memory cards slipped 5% year-on-year to 20.6 million euros. Overall, Oberthur posted record first quarter revenue of 121.9 million euros, topping records set in the first and second quarter of last year.
For complete details on Oberthur’s first quarter performance, visit CardData (www.carddata.com).

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Oberthur Rolls Out FIPS 201 Smart Card

Oberthur Card Systems has become the first provider of
a “FIPS 201” certified smart card. With this certification, Government
Agencies and other organizations now have a commercial source of dual
interface smart cards to meet requirements as part of Homeland Security
Presidential Directive 12. Oberthur Card Systems government smart card
products are manufactured and personalized in the United States in ISO
certified environments; a significant advantage for agencies looking for
a shared services provider of ID credentialing.

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SPECTRA Launches GPRS POS Terminal

First Data International announced that Shanghai-based Cetelem
Processing Services
has signed an agreement to use First Data’s “VisionPLUS” processing
solutions. Under the terms of the agreement, First Data will provide
its processing solutions to supplement Cetelem’s specialized proprietary
systems designed for its alliance partners engaging in consumer lending
such as credit cards including China Unionpay cards, Visa and MasterCard
services and unsecured and installment loans. First Data will leverage
VisionPLUS as a comprehensive solution to support Cetelem’s credit
cards, consumer loans and related processing needs. In 2002, First Data
International established a presence in China with
the launch of its Shanghai data center. The company now serves 13
clients throughout the region. Cetelem is a provider of financial
institution in consumer finance in with a presence in more than 20
countries.

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TSAI’s Revenue Rises 19% in Q1

Omaha-based Transaction Systems Architects reported a 19% increase in revenue for the first three months of this year to nearly $90 million. During the quarter, TSAI licensed its “BASE24” to two Tier 1 world banks in Asia, made capacity upgrades for several Tier 1 world banks, retailers and payments processors and issued a new license for the Company’s “Smart Chip Manager” solution by a current Tier 1 bank customer in the Middle East. The Company added seven new customers during the quarter and sold 15 new applications to existing customers. In addition, 25 customers licensed capacity upgrades each valued at a $100 thousand or more. The Company also completed its business reorganization during the quarter and rebranded all of its solutions under the ACI Worldwide brand. For complete details on Transaction Systems Architects latest performance, visit CardData ([www.carddata.com][1])

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

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BONY Launches a MC Payroll Card

The Bank of New York announced the launch of its MasterCard branded, stored-value payroll card.The bank has joined with eFunds Corporation to handle the card processing. The payroll card is funded in the same manner as payroll direct deposit. The net amount of pay is loaded to an employee’s card, reducing employers’ check processing and distribution costs, while strengthening their employee benefits offerings since it provides nationwide access to funds via ATMs, and can be used to make purchases from merchants that accept MasterCard.

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Dresser Wayne Pignone Intros TPB/CA EMV Terminal

Dresser Wayne Pignone has unveiled its new unattended payment terminal,
the “TPB/CA EMV” terminal. The terminal offers increased durability,
usability and security for petroleum retailers and pay-at-island
customers and meets the latest standards for terminal security. These
standards include EMV (Europay, MasterCard, Visa), PCI – VisaPED
(Payment Card Industry-Visa Pin Entry Device) and Microcircuito.
Dresser Wayne designs and markets software systems that enable its
retail fueling customers to manage the convenience store aspects of
their businesses more efficiently.

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AAmonte Bankcard Lands Two Veterans

CA-based AAmonte Bankcard has landed two payments veterans including Steve Elefant, former co-founder of ICVerify and Michael Levitt, former Discover card executive, for its Board. In 1984 he was tapped by Sears to help start the Discover Card and, as Senior Vice President for Sales, ran the Discover Card sales force from 1984-1994. During that period, Discover Card grew from no merchants at all to over two million locations in the United States alone. Elefant co-founded payments software firm ICVerify, Inc in 1988. He then went on to be a founder at several other successful startups including PriceRadar / IMiner, Yaga, AircraftFuel.com and others. He currently is a Venture Partner at Claremont Creek Ventures. AAmonte provides full service, custom-designed credit card processing systems and electronic payment technology to small, mid-sized and large businesses.

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CreditXpert Introduces Credit Assure

Maryland-based CreditXpert Inc. has introduced “Credit Assure,” an automatic scanner that performs due diligence on consumer credit reports, either alerting lenders to potential issues that may artificially depress an applicant’s credit scores or providing assurance that the credit scores are sound. CreditXpert provides personalized credit management tools including simulation, optimization, and analysis to help lenders make more informed decisions.

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Scotiabank Launches a C-Card Program

Scotiabank’s Global Transaction Banking unit has launched a “Commercial Card” program in the U.S. after recently getting approval from VISA U.S.A. to offer its “Commercial Card” expense management program to both U.S.-based multinational clients and domestic-only U.S. corporate accounts. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking with $325 billion in assets.

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