ICICI Bank Places a Major Hypercom Order

Phoenix-based Hypercom Corporation announced that ICICI Bank of India has purchased 5,000 “T7Plus” EMV-certified credit/debit card payment terminals. The terminals and associated software will be rolled out to retail merchants throughout the country over the next two months. The “T7Plus” model accepts all magnetic stripe and EMV cards, providing fast authorization of online transactions with “One-Touch” shortcut keys for quick access to functions and transactions. ICICI Bank is India’s second largest bank with an asset base of Rs 1462.14 billion as of December 31,2004. Hypercom delivers complete card payment terminal, network access device, server and transaction networking solutions worldwide.

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TSYS Q1 Profits Soar 42% as Accounts Jump 32%

TSYS reported first quarter net income of $46.1 million, a 42% rise over the year-ago quarter. Revenues hit $350 million, a nearly 23% rise over 1Q/04. Accounts on file increased to 370.6 million, up 32%, compared to 280.4 million one-year ago. TSYS reports that it has 12.6 million stored value accounts now on-file, compared to 4.0 million for 1Q/04. During the first quarter, TSYS acquired the remaining 50% interest in Vital Processing, extended its exclusive processing contract with Bank of America through 2014, extended its existing seven-year relationship with MBNA for commercial-card processing services by an additional three years and announced it was sponsoring the creation of an industry-wide prepaid card trade association. Internationally, during the first quarter TSYS signed a seven-year contract with ABN AMRO Bank and implemented two retail gift card programs in Europe. The processor says it anticipates net income growth to be in the range of 22-25% and revenue growth to be in the 30-33% range for 2005. For complete details on TSYS’ latest performance, visit CardData ([www.carddata.com][1]).

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

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American Express Online Launched for Business Travel

American Express Business Travel has launched a new corporate online solution for the Chinese market. “American Express Online” will enable multinational corporations operating in China and local Chinese companies to realize the cost-savings, convenience and control that online travel management can deliver. The new solution will automate the travel booking process, resulting in a lower transaction cost that is passed back as savings to the customer. It will also provide travelers
with clear fare options, prompting the selection of the lowest fare and
requiring travelers to provide a reason if the lowest fare is not chosen. In addition, front-end controls within the booking tool will direct travelers toward corporate preferred suppliers and negotiated fares, and exception reports will help companies capture missed savings.
AmEx and TravelSky Technology have formed a partnership to guarantee content access over the next three years. TravelSky will become the exclusive GDS partner for all American Express operations in China.

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Wincor Nixdorf Names BTG a Master Reseller

Georgia-based Benchmark Technology Group has been selected by Wincor Nixdorf as the master reseller of document printers for the U.S. and Canadian markets. Benchmark will be responsible for all certified warranty repairs, parts distribution, training and implementation of engineering changes. Wincor Nixdorf is global supplier of POS systems and ATMs. Benchmark Technology Group Provides branch technology solutions for financial services institutions.

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NTT DoCoMo to Invest in Sumitomo Mitsui Card

NTT DoCoMo is reportedly planning to make a US$936 million investment for one-third ownership of Sumitomo Mitsui Card Co. However,
Sumitomo says that no concrete deal has been made yet. NTT DoCoMo has made clear its intention to expand into wireless payment systems. In July 2004, JCB, AEON Credit Service, and NTT DoCoMo developed “QUICPay,” a payment solution that permits consumers to assign part of their existing credit limit to a specific contactless IC chip, which may be embedded in a plastic card, or incorporated in the customer’s “i-mode FeliCa” service compatible mobile phone. In November, JCB launched a three-month pilot for its mobile infrared credit payment system using NTT DoCoMo phones at 30 merchant locations near its Tokyo headquarters.
Sumitomo Mitsui Card Co. is the second-largest credit card firm in Japan.

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Equifax Launches Take Control of Your Credit

Equifax now offers “Take Control of Your Credit”, an online resource to help consumers protect against identity theft and to better manage their credit. This service is available in both English and Spanish. For 106 years, Equifax has managed personal credit information for consumers and businesses. Equifax’s Personal Solutions Group provides a range of credit management tools to help consumers take control of their credit.

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Access to Diebold’s Diagnostic Software Sought

The NM-based Financial & Security Products Association has filed a motion in U.S. District Court seeking a preliminary injunction to prohibit Diebold from changing its previous ATM parts and service policies. The documents charge that Diebold changed its service and parts policies in its installed base for ATMs by preventing its customers from having those ATMs serviced by third-party maintenance companies on terms previously allowed. The FSPA says the change in policy is reducing competition, raising prices and restricting the availability of parts and services. The motion states that prior to 2004, Diebold maintained policies that permitted its customers to obtain without restriction ATM service from TPMs and that Diebold’s ATM customers and their third-party maintenance company had complete unconditional access to Diebold’s diagnostic software. The FSPA says a key provision of its complaint is putting back in place hold-harmless agreements under which third-party maintenance companies at the discretion of the ATM owner were allowed access to the diagnostic software installed on each machine.

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Chase Profits Rise Over 4Q/04 as ROE Hits 18%

J.P. Morgan Chase reported this morning that credit card profits for the first quarter rose sequentially to $522 million on revenues of $3.78 billion. The ROE of 18% for the quarter was the highest since its merger with Bank One. Chase says higher net interest income, lower provision for credit losses and lower expenses contributed to the improved profitability. Managed card loans of $133.4 billion were up 6.5% year-on-year and up 1% sequentially. During the first quarter, Chase added 2.74 million net new credit card accounts, ending the quarter with 94.4 million cards in-force. Charge volume for 1Q/05 was $70.3 billion, compared to $63.5 billion one-year ago. The managed net charge-off ratio for the quarter declined to 4.83%, from 5.24% in 4Q/04. The 30-day managed delinquency ratio was 3.54%, down from 3.70% in the prior quarter. The 90-day managed delinquency ratio was 1.71%, down slightly from 1.72% in the fourth quarter. Bank card volume for Chase’s merchant acquiring business was $125.1 billion with 4.3 billion transactions. Chase also reported that it ended the quarter with 8,596,000 debit cards. For complete details on Chase’s first quarter performance, visit CardData ([www.carddata.com][1]).

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

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MasterCard Introduces Usability Excellence Awards

MasterCard International will host the first annual Usability Excellence Awards, created to recognize the most usable sites on the Web. Beginning today, companies can nominate their sites for consideration. Winners will be chosen from each category based on seven important principles of Web usability: navigation, information architecture, accessibility, error prevention and recovery, writing for the Web, support and interface design. The Usability Services Team at MasterCard International was developed to assist in creating sites that function intuitively for a better consumer experience.

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Cyota Helps AOL Block Access to Phishing Sites

America Online has teamed with New York-based Cyota to step up the battle against “phishing” by identifying and blocking access to suspect sites, based on member feedback. When a possible phishing site is identified, AOL limits access to the site and informs members that it is suspected of being a dangerous site. America Online provides interactive services, Web brands, Internet technologies and e-commerce services. Cyota provides security and anti-fraud solutions.

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Intersections and ID Analytics Team for ID Fraud

Intersections has partnered with ID Analytics to provide consumers with stronger protection from identity fraud. The combined solution will provide consumers the ability to monitor in real time possible identity theft and allow them to take action. Intersections, Inc. provides consumer identity theft protection and credit management services to more than 2.9 million subscribers. ID Analytics, Inc. provides advanced analytic solutions that prevent identity fraud and manage identity risk.

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LaGarde StoreFront 6 Integrates Cardinal Centinel

LaGarde has integrated Cleveland-based CardinalCommerce’s payer authentication services, Cardinal Centinel, into its StoreFront 6 product, enabling greater credit card fraud prevention and alleviate the concerns consumers have towards online purchasing. LaGarde is a global provider of e-business solutions, offering the StoreFront software products and services to 50,000 Web stores in over 70 countries. CardinalCommerce Corporation provides a technology-neutral authentication platform for securing electronic and wireless commerce.

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