AssetExchange Announces 3 CU Portfolio Sales

Oregon-based AssetExchange has brokered three credit card portfolio sales including:Pan Am Horizons FCU (FL) to InfiCorp; SourceOne FCU (MN) to TNB Card Services; and Mokelumne CU (CA) to Elan. Pan Am Horizons FCU portfolio is valued at $4.6 million, SourceOne FCUs at $950,000 and Mokelumne CU at $930,000. AssetExchange is a leading credit card advisory and brokerage firm for financial institutions.

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HSBC Online Deploys VASCO’s Digipass GO3

HSBC in Hong Kong will provide all its online customers additional security for Internet banking through VASCO’s “Digipass
GO3.” HSBC is the first bank in the Greater China area to offer
“Digipass” to all its retail Internet customers. HSBS has 870,000 Internet banking customers in Hong Kong. HSBC also has plans to roll out VASCO’s Digipass to all online@hsbc customers in Asia. More than 15 million Digipass products have been sold and delivered to-date.

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Charlotte Merchants Adopt BioPay System

VA-based BioPay has signed 27 Charlotte area national and local retailers to offer its biometric payment technology. The BioPay system uses a person’s unique finger image and their chosen BioPay number (usually a phone number) to authorize a secured direct debit from their checking account. The Company says it has 1.8 million registered consumers and that more than 1,000 merchants use one or more of its smart, secure methods for processing financial and other transactions requiring identification such as payroll check cashing, loyalty programs, age verification and stored value programs. BioPay and its primary competitor, San Francisco-based Pay By Touch, have filed patent infringement lawsuits against each other. (CF 1/25/05; 2/16/05)

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iBill and gkard Drive Q1 Revenues for IBDI

Florida-based Interactive Brand Development says its “gkard” product and recently acquired iBill business drove revenues in the first quarter to more than $14 million. Interactive Brand Development, Inc. is a new media company that owns interests in online and offline media properties. Through its wholly owned operating subsidiary, Internet Billing Company, the company processes online credit card payments for more than 26 million users and manages consumer databases primarily of individuals purchasing services and/or goods over the internet.

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Providian Metrics Continue to Improve in May

Providian’s managed delinquency ratio has declined for the seventh consecutive month as managed charge-offs fell for the third straight month. The securitized charge-off rate plunged 56 basis points and ABS delinquency dropped 46 basis points during May. On a managed basis, Providian’s charge-off rate declined from 8.49% in April to 8.47% in May. In March the rate was 8.62%. Managed delinquency dropped from 4.96% in April to 4.86% in May. In March the rate was 5.16%. For securitized receivables, Providian’s charge-off rate decreased to 10.28% from 10.84% in April. One-year ago ABS charge-offs were 14.82%. Delinquency, on a securitized basis, dropped to 6.49% in May from 6.95% in the prior month, and 8.68% for May 2004. Providian recently announced plans to merge with Seattle-based Washington Mutual for $6.45 billion. For complete details on Providian’s latest performance, visit CardData ([www.carddata.com][1]). (CF Library 6/6/05)

PROVIDIAN MONTHLY ABS METRICS
Month Charge-Offs Delinquency
May 04 14.82% 8.68%
Jun 04 14.44% 8.40%
Jul 04 13.17% 8.42%
Aug 04 12.39% 8.37%
Sep 04 12.45% 8.30%
Oct 04 12.11% 8.48%
Nov 04 12.14% 8.27%
Dec 04 11.73% 8.06%
Jan 05 11.75% 8.01%
Feb 05 11.03% 7.75%
Mar 05 11.18% 7.23%
Apr 05 10.84% 6.95%
May 05 10.28% 6.49%
Source: CardData(R) (www.carddata.com)

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

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InterContinental Deploys GCS Solution

InterContinental Hotels Group has selected “realtimemerchant” from Global Card Services as its newest payment processing solution to facilitate credit and debit card processing at its properties. The “realtimemerchant” solution is a payment-processing gateway that controls credit card processing through a single Web interface. InterContinental Hotels Group owns, manages, leases or franchises more than 3,500 hotels in nearly 100 countries and territories around the world. Global Card Services is part of First Horizon National Corp and provides merchant credit card processing services.

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United Cash Solutions Moves to Massachusetts

United Cash Solutions, the ATM division of United Bank Card, has completed the transition to its new headquarters in Beverly, Massachusetts from Tucson, Arizona. The new facility is 10,000 square feet and will include space for expanded customer service and technical support departments as well as the United Cash Solutions management team. United Cash Solutions is a full service ATM processor providing a completely in-house program to accommodate any ATM need.

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GlobalPlatform Card Committee Gets New Chair

GlobalPlatform’s Board has elected Klaus Gungl, Senior Smart Card
Systems Architect at IBM Global Services, to the position of Chairman for
the organization’s Card Committee. The new Chairman succeeds Marc
Kekicheff, VP/Product Technology at VISA Worldwide Services, who remains
in the role of GlobalPlatform’s Technical Director. Kekicheff has stepped
down from his role as Chair of the GlobalPlatform Card Committee after
five years to pursue further responsibilities within VISA and to allow
other interested Members to serve the organization. GlobalPlatform is an
independent, not-for-profit organization.

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Fiserv’s EPSIIA Unites Hires a President

Fiserv has named John Peterson, formerly with Transactions, Bank One and ABN AMRO Services, as president of the EPSIIA unit. Previously, Peterson was managing principal of Transactions, an executive consulting firm focused on the financial services industry. He also was general manager for receivables management at Bank One Corp. and senior vice president for banking operations at ABN AMRO Services Co. Peterson’s educational background includes a bachelor’s degree from the University of California at Berkeley, an MBA from the University of Chicago and a master’s degree in information technology from Northwestern University. Fiserv, Inc. is a provider of information management systems and services and reported $3.4 billion in processing and services revenues for 2004.

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OTP Bank Expands its BASE24 License

OTP Bank has extended its “BASE24” software license with ACI. The new license, which includes “BASE24-atm” and “BASE24-pos” modules, includes a second-site license for DSK Bank in Bulgaria, a recent acquisition of the OTP Group. As part of the agreement, DSK Bank will also implement ACI “Card Management System” software for the issuing and acquiring of bank cards. More than 500 customers in 78 countries use ACI supplied software.

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Paymentech Scores a Vegas Processing Wynn

Wynn Las Vegas has awarded its resort credit card processing business to Paymentech. The $2.7 billion hotel/casino resort opened April 28th and has 2,716 guest rooms and 22 food and beverage outlets. Paymentech processed 8.5 billion transactions and $200 billion in card volume in 14 currencies last year. In April, Wynn Las Vegas selected Global Payments’ Gaming Division’s “VIP LightSpeed” suite of products for check cashing transactions. Also, the new resort signed a multi-year agreement to use the products and services of Global Cash Access. (CF Library 4/13/05; 4/28/05)

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Takamatsu City’s Symbol Tower to Offer QUICPay

JCB, NTT DoCoMo Shikoku, and Symbol Tower Development
Corporation have teamed up to offer “QUICPay” mobile contactless payment
service at 23 stores and restaurants in Takamatsu City’s Symbol Tower.
The service will be targeted to more than 1,500 office workers in the
building and is available to the general public as well. With “QUICPay”,
a part of the customer’s existing credit limit is assigned to a
contactless IC chip which may be embedded in a plastic card or in a
mobile phone handset. Also, “QUICPay” purchases are linked to the
cardholder’s existing JCB credit card account so that users can earn
loyalty points. JCB has been testing “QUICPay” since November of
2004, starting with a taxi trial project and is currently conducting a
trial in the Tokyo metropolitan area. Seicomart, a large convenience store
chain in Hokkaido, will be implementing a six-month trial of “QUICPay”
through November at 10 of its outlets in Sapporo.

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