Best Western Travel Card Tops 80K Users

Best Western reported that sales for its pre-paid gift card will likely exceed $6 million by the end of the year. The card, launched in December 2002, has more than 80,000 cardholders. Best Western says the “Best Western Travel Card” has also guaranteed an increased market share for many of its hotels, who have sold more than $300,000 worth of product to their guests through September while earning 10% commission for their efforts. In May, Best Western unveiled the “Travel Card” to the corporate incentive marketplace. The card is accepted universally at 4,100 Best Western hotels in 80 countries. (CF Library 12/4/02)

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ASEC M4V Reader Integrates with VF’s Omni 3750

VeriFone is enabling new contactless card payment applications across Warsaw through the integration of a new MIFARE contactless reader into the “Omni 3750” terminal. The “M4V” internal reader module, based on Philips’ “MIFARE” contactless smart card technology, is being used in conjunction with the Omni 3750. The “Omni 3750” terminals are connected to a management centre through GSM and GPRS modems, so transaction data can be sent and authorized quickly and securely. About 400,000 “Warsaw City Card” transactions are currently made in this way each month. The M4V reader has been exclusively developed by ASEC.

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Online Resources Buys Incurrent for $15MM

VA-based Online Resources has inked an agreement to acquire NJ-based Incurrent Solutions for $15 million in cash and stock. Incurrent is an Internet ASP to the credit card issuer industry. Online Resources says it intends to bring its patented real-time payments and consumer marketing capabilities together with Incurrent’s wide distribution and vertical market expertise in card-based financial services. Incurrent’s continuing clients serve approximately 30 million cardholders, of which 1.7 million are enrolled to use Incurrent’s service to access their accounts online. The $15 million purchase price for Incurrent includes $8 million in cash and 1,000,000 shares of Online Resources common stock. Incurrent has approximately $7 million in annual revenue from continuing clients.

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Bank Audi SAL Purchases eFunds’ IST/Switch Software

Bank Audi SAL has signed a contract to purchase eFunds’ “IST/Switch” electronic payment processing software. The “IST/Switch” will be deployed both in Lebanon and in the Bank’s Jordanian branch network. Bank Audi manages $12.9 billion of total assets globally. The deal was concluded with the active support of Mideast Data Systems Lebanon, eFunds’ master distributor for the Middle East based in Lebanon.

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PYDS Powers the Pronto Banco Card

Payment Data Systems becomes the electronic payment engine powering SCN’s “Pronto Banco” reload site. Marketing Pronto Banco™ on the Internet enables consumers to purchase cards and receive them at home in just a few days. Cardholders can re-load their cards on the Internet once they log onto their account. They can also re-load at any of the thousand merchant locations in the U.S. Payment Data Systems, Inc. is an Integrated Payments Solution Provider that delivers comprehensive and cost-effective solutions to billers and retailers for the processing and management of electronic payments. Secure Cash Network, Inc. is a Consumer Products and Financial Services company that specializes in Stored-Value Debit/ATM products for consumers who do not have regular bank accounts.

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Buy.com Platinum VISA Contract Extended

Chase and Buy.com have renewed their 1999 credit card co-branding contract for the “Buy.com Platinum VISA”. The card provides consumers with a secure and convenient method of payment along with opportunities for savings and rewards. Buy.com cardmembers will earn three reward points per dollar on card purchases made on Buy.com and one reward point per dollar on other card purchases made where Visa credit cards are accepted. Online shopping has grown to a $100 billion industry in the last decade and 34% of the total population will participate in online shopping.

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Wincor Nixdorf Provides Morton’s POS

Morton’s Steakhouse has selected Wincor Nixdorf for multi-vendor and site preparation services at its 65 restaurant locations around the world. Wincor Nixdorf provided site preparation to support the roll out of a new point-of-sale system. It is servicing Morton’s existing POS systems and Epson printers on an Advanced Exchange basis. Wincor Nixdorf has now serviced over 250 POS systems. Morton’s Steakhouse is the largest owned and operated fine dining restaurant in the world. Wincor Nixdorf is a global supplier of IT solutions to retail and banking industries. It operates in more than 90 countries and has manufacturing plants in Germany and Singapore.

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Chase Card Loans Up 5%; Volume Rises 12%

J.P. Morgan Chase reported this morning that credit card profits for the third quarter were $421 million on revenues of $3.77 billion. Managed card loans of $131.5 billion were up 5.1% year-on-year and up 3.6% sequentially. During the third quarter, Chase added 2.76 million net new credit card accounts, ending the quarter with 95.9 million cards in-force. Charge volume for the third quarter was $73.3 billion compared to $65.3 billion one-year ago. The managed net charge-off ratio declined to 4.88% from 5.43% in the prior year and 5.56% in the prior quarter. The 30-day managed delinquency ratio was 3.81%, down from 4.24% in the prior year and up from 3.72% in the prior quarter. Bank card volume for Chase’s merchant acquiring business was $123.5 billion with nearly 4 billion transactions. Chase also reported that it ended the quarter with 8,282,000 debit cards. For complete details on Chase’s third quarter performance, visit CardData ([www.carddata.com][1]).

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

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TSYS Revenues Up 15% Lifting Profits 10%

TSYS reported third quarter net income of $39.1 million, a 10% rise over the year-ago quarter. Revenues topped $305 million, a nearly 15% rise over 3Q/03. Accounts on file increased to 315.3 million, up 17.7%, compared to 267.9 million one-year ago. During the third quarter, TSYS signed a definitive agreement to service the combined card portfolios of Chase Card Services, and converted 1.5 million accounts from The Royal Bank of Scotland Group’s acquisition of People’s Bank. Bank of America also selected TSYS to process the 12 million accounts recently acquired from FleetBoston. Additionally, TSYS acquired Clarity Payment Solutions during 3Q/04. The processor says it anticipates 10% to 15% growth in EPS in 2005. For complete details on TSYS’ latest performance, visit CardData ([www.carddata.com][1]).

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

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BofA to Install NCR’s APTRA Edge for ATMs

Bank of America has agreed to use NCR’s “APTRA Edge” open-architecture, client-server software for the bank’s advanced-function ATM channel. NCR says more than 70% of all multivendor projects worldwide currently run on NCR’s Windows-based “APTRA” platform, which enables advanced transactions and relationship-driven services, such as personal preferences, voice guidance, and “No Envelope” Deposit. BofA has more than 16,000 ATMs. In August, S2 Systems announced “OpeN/2” support for NCR’s “APTRA” software and cash acceptor. (CF Library 8/20/04)

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Postilion to Drive Apple Bank ATMs

NYC-based Apple Bank has selected Mosaic’s “Postilion” software to provide ATM driving, transaction switching, and routing. Apple will install the Postilion system to handle ATM transaction processing and debit card management. Mosaic’s Postilion provides Apple with open architecture, which allows easy implementation of new products to be delivered through ATMs. The Postilion Office component will handle detailed reporting and automated settlement and reconciliation for all networks and interfaces. Mosaic Software is a global EFT software company with over 200 customers in more than 40 countries. Mosaic’s Postilion represents the forefront of next-generation payment processing software.

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