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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Comdata’s Q1 Revenue Climbs 13%

Minneapolis-based Ceridian reported that first quarter revenue for its Comdata payments unit increased 13% year-on-year to $104.4 million. The Company said higher fuel prices accounted for about 3% of the increase. During the quarter, several new marquee transportation customers were signed. Comdata says demand for the “BusinessLink” product and further penetration into the gasoline fleet market continue to drive growth in its transportation segment. Comdata revenue for 2006 is expected to be between $450 million and $465 million, up between 10% and14% over 2005. Overall, first quarter revenue was $384.3 million up almost 8% over the prior year. For complete details on Ceridian’s first quarter performance, visit CardData ([www.carddata.com][1]).

COMDATA REVENUES
1Q/05: $ 92.2 million
2Q/05: $102.5 million
3Q/05: $109.5 million
4Q/05: $104.7 million
1Q/06: $104.4 million
Source: CardData (www.carddata.com)

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

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Fiserv Names a New CFO

Wisconsin-based Fiserv has named Thomas Hirsch as EVP/CFO effective July 1st replacing the retiring Kenneth Jensen. Hirsch joined Fiserv in 1994 and served most recently as senior vice president and corporate controller, where he also had responsibility for the investor relations and treasury functions. Hirsch has a masterâ™s degree in business administration and a bachelor’s degree in finance and accounting from the University of Wisconsin. He is also a certified public accountant.

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INGENICO 1Q/06

Terminal manufacturer Ingenico reported first quarter sales of 120 million euros compared to 98 million euros for 1Q/05. The Company says sales from North America, Southern Europe, and Latin America drove the higher figures. Ingenico also says its supply chain difficulties issue has been resolved. Ingenico employs 1200 people, with 22 subsidiaries/offices and 100 distributors around the world. The company annually delivers 1.5 million payment terminals worldwide.

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Exigent & PRE Solutions Settle Lawsuit

Exigent Technology and PRE Solutions have settled a patent lawsuit over transaction processing systems. In 2004, Exigent alleged that PRE Solutions deployed through its retail customer network a system infringing multiple claims of the ‘885 Patent. The parties have agreed to dismiss with prejudice the current litigation filed in federal court.The settlement reached grants PRE Solutions a non-exclusive license to Exigent’s United States Patent No. 6,651,885, entitled “Multifunction Transaction Processing System,” which issued on November 25, 2003. PRE Solutions will also pay to Exigent an undisclosed settlement and license fee.

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Intersections Introduces IDENTITY GUARD

VA-based Intersections has introduced a new consumer service that includes a full suite of tools to combat escalating identity theft and fraud. “IDENTITY GUARD Fraud Protection” includes four key components. A personalized “ID Risk Assessment” is an indicator of the likelihood one may currently be a victim of identity theft. A comprehensive “Public Record Profile” enables consumers to see what information is publicly available about them. “Internet Surveillance” enables consumers to tap into sophisticated Web crawling technology designed to reduce the risk of credit card fraud by continuously searching the Internet for evidence that registered cards are being sold or traded online. “Daily Monitoring” of an individual’s credit report is the fourth component. “IDENTITY GUARD Fraud Protection” retails for $24.95 for the first 3 months, and $12.99 for each additional month.

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UBS Launches a Dual-Card Rewards Program

UBS Wealth Management has launched a new program that consolidates points earned from the “UBS American Express Card” and the “UBS VISA Signature” credit card. UBS “Resource Card Program” offers rewards for once-in-a-lifetime experiences. The “UBS American Express Card” provides “Resource Management Account” clients with direct access to available funds in the RMA for purchases and ATM cash withdrawals. Clients can also apply for the “UBS VISA Signature” credit card. Both cards are issued by Barclays. UBS Wealth Management also augments its rewards portfolio for the highest card level, “UBS Charter,” which is offered by invitation only. On a quarterly basis, “UBS Charter” cardholders receive a choice of extraordinary limited time only opportunities. (CF Library 4/18/06)

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Gemplus Revenues Up 19% in 1Q/06

Smart card specialist Gemplus International reports a 19% jump in net sales for the first quarter driven by robust revenue growth in the Financial Services and ID & Security units. First quarter revenues climbed to 230.3 million euros, compared to 262.0 million euros in the prior quarter and 193.1 million euros for 1Q/05. Payment microprocessor card shipments soared 75%, to 22.3 million units as EMV roll-outs gained further momentum in Latin America, Southern Europe and Japan. Payment microprocessor card revenue rose 55% year-on-year. During the quarter, Gemplus launched “Plastic Fantastic,” which is designed to help banks and financial institutions set themselves apart from the competition. The cards range from unusual shapes, perfumed, tactile and even glow in the dark, and will support customers in their branding and customer segmentation. The “GemSense Instant Issuance,” also won an award from the ECPA/ ECR (European Payments Consulting Association / European Card Review) “Payment Innovation Awards” in the category for the most innovative and advanced payment software/hardware product. This is a personalization and card issuance solution which allows banks and retailers to deploy or replace cards on the spot. For complete details on Gemplus’ first quarter performance, visit CardData ([www.carddata.com][1]).

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

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Stratus Expands CDS ATM/EFT Contract

Stratus Technologies has signed Columbus Data Services to a new contract to expand CDS’ ATM/EFT network. CDS provides small- to mid-size financial institutions and ATM deployers a single source for complete ATM programs that include transaction processing services. Stratus is a solutions provider to customers in manufacturing, life sciences, telecommunications, financial services, public safety, transportation & logistics, and other industries.

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AmEx Launches Going Once Auction Today

American Express launches “Going Once” today, an exclusive online auction offering cardholders access to one-of-a-kind experiences and unique take-home gifts. A new auction will start each day and Cardmembers will have 24 hours to submit a sealed bid, with the package going to the highest bidder. In addition to the dream auction trips, each day Going Once will feature eight exclusive “Buy Now” packages, featuring luxury accommodations and activities available in limited quantities at Cardmember-only prices representing savings of up to 40%.

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Self-Service Transaction Volume to Explode

A new study projects that self-service banking will undergo an explosion in both quantity and quality. The research from TowerGroup estimates that by 2010, retail banking customers in the U.S. will conduct nearly 60 billion self-service transactions every year – an increase of nearly 50% over self-service transaction volumes forecasted for 2006. Until recently, financial institutions’ migration to self-service channels was driven by consumer demands for more banking options – not by the banks themselves. TowerGroup says that broader adoption of self-service outside traditional banking channels will drive further acceptance of greater self-service functionality via channels like the ATM, IVR, and online banking functionality.

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Oberthur Sets a Smart Card First

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 of America offers an identification solution that couples smart card manufacturing with card personalization, carrier attachment and activation services as well as the exclusive rights to the card software applets.

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