Moneris Solutions Signs 6-year Deal with Signature Vacations

Canada’s leading package holiday company has entered into a six-year agreement with Moneris Solutions for MasterCard and VISA online credit card payment processing. Signature Vacations chose “eSELECTplus” because it provides travel agents access to a web-based tool on their desktop, enabling real-time processing of credit card orders and quick end-of-day batch processing. More than 350,000
merchant locations rely on Moneris to process and streamline their card payment processing..

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Discover Incents Cardholders to Charge Groceries

Discover has launched a new promotion offering up to 10% back on grocery purchases. Under the promotion, cardholders receive a cash award of up to 1% of each purchase based on annual level and type of purchases, plus those enrolled in the special offer receive an additional 4% of each purchase made at qualifying grocery stores. Cardholders can then exchange their cash award of up to 5% for up to double the amount in certificates from Discover’s “Cashback Bonus Partners.” The offer runs from April 1st to June 30th. Cardholders have to enroll via Discover’s Web site or a toll-free number.

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PULSE EFT Beefs-Up its Network via AT&T

AT&T has won a five-year, multi-million dollar integrated networking contract to expand and enrich PULSE EFT Association’s payment network. According to a recent nationwide consumer payment preference study released by the American Bankers Association, increases in debit payments are steadily eroding the use of cash and checks. PULSE is the only major network solely owned by financial institutions. AT&T has been known for unparalleled quality and reliability in communications.

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Mitsubishi Tokyo Financial Names New Card Head

Mitsubishi Tokyo Financial Group is gearing up to issue its own credit cards one year from now to take advantage of deregulation which takes effect this week. MTFG named Izumi Tamai as General Manager, BTM, Director & General Manager, Comprehensive Card Division. Mitsubishi Tokyo wants to more than double its retail business by March 2007. Last week, the Company increased its stake in Acom to 15%. Acom is the country’s second-largest consumer finance company.

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Bank One to Replace 132 ATMs in Indiana This Year

Bank One announced it will spend $3.98 million to replace 132 ATMs in Indiana this year. The banking centers feature a new layout designed to reduce customer wait times. It features teller stations for conducting banking transactions. Individual offices adjacent to the customer transaction area provide a more private space for relationship bankers to conduct detailed financial discussions with customers. Bank One operates more than 180 banking centers in Indiana. Bank One Corporation is the nation’s sixth-largest bank holding company, with assets of more than $325 billion. Bank One currently has more than 50 million credit cards issued, serves nearly 7 million retail households, and approximately 20,000 middle market customers. It also manages more than $185 billion of clients’ investment assets.

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JCB International Adds 100,000 Merchants in Turkey

JCB International announced that Turkey’s Turkiye IS Bankasi is now authorized for JCB merchant acquiring through a sublicensing agreement. The license was granted to Isbank by JCBI’s direct licensee, Anadolu Kredi Karti. As a result, the number of merchants accepting JCB card in Turkey will increase to more than 100,000. Isbank maintains a network of 113,000 merchants and 121,000 POS terminals, representing 17% of the market. The Bank produces international credit card sales volume of more than US$19 million per annum. Anadolu Kredi Karti says its agreement with JCB in 1993 helped it increase sales at its 11,000 merchants and expects the Isbank deal to drive even more JCB volume.

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Savings Banks Renew with GZS through 2006

GZS Gesellschaft für Zahlungssysteme reports that nearly all of Germany’s savings banks have extended their contracts with GZS until 2006. Collectively, savings banks have 2.6 million VISA and MasterCards in force. Its customer base includes Hamburger Sparkasse, Frankfurter Sparkasse, Stadtsparkasse, and Kreissparkasse Köln. HSH Nordbank which was formed from the recent merger of Hamburgische Landesbank and Landesbank Kiel have also chosen GZS for its credit-card processing and, at the start of 2004, it, too, switched processors, engaging GZS with the handling of a former Landesbank Kiel credit-card portfolio. GZS processes for about 2,200 banks, retailers and industrial enterprises.

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ICBC to Launch a Dual-Denominated American Express Card This Year

Industrial and Commercial Bank of China has entered into a partnership to issue the first American Express-branded credit cards in the country. ICBC, which already has 100 million cards-in-force including the “Peony” card, expects to issue the new card by the end of this year, and possibly 4 million AmEx cards within the next ten years. The AmEx/ICBC card will be denominated in both renminbi and U.S. Dollars. The agreement is subject to regulatory approval. In January, Citibank and HSBC Holdings were approved to issue local-currency denominated credit cards in China. HSBC will issue cards through Bank of Shanghai, while Citibank will work through Shanghai Pudong Development Bank. Currently, there are 25 million credit cardholders, and virtually all of them are secured credit cards. American Express has now established card-issuing partnerships in 90 countries around the world. It recently signed a card-issuing agreement with MBNA, its first U.S. bank partner in the United States.

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Intelli-Check Revenues Climb 9% Last Year

Woodbury, NY-based Intelli-Check reported that revenues for 2003 rose 8.5% to $1.2 million. However, its net loss rose to $6.8 million from $5.6 million in 2002. The Company is a developer and marketer of proprietary document verification technology, which is contained in its “ID-CHECK” units and in its “ID-Check PC” software, and will be contained in its “ID-Check PDA” software products and the next release of “C-Link,” the company’s net workable data management software. Its software is now hardware-independent, meaning that it can be used on a variety of data processing devices, including POS terminals or computers. For complete details on Intelli-Check’s fourth quarter results visit CardData ([www.carddata.com][1]).

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

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MoneyWi$e Partnership Hands-Out $125K

Consumer Action and Capital One announced their joint “MoneyWi$e” financial literacy partnership will grant more than $125,000 to 36 community-based non-profit organizations in 8 states. Now in its second year, the MoneyWi$e stipend program provides financial support to help local organizations deliver financial literacy training to under-served communities across the country. Capital One Financial Corporation () is a holding company whose principal subsidiaries include: Capital One Bank and Capital One, F.S.B., which offer consumer lending products, and Capital One Auto Finance, Inc., which offers primarily automobile financing products. Consumer Action is a non-profit, membership-based organization founded in San Francisco in 1971.

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Cash Systems 4Q/03 Revenues Up 78%

Minneapolis-based Cash Systems reported that revenue for the fourth quarter was $8.8 million, an increase of 77.6%, compared to 4Q/02. Income from operations was $585,000, an approximate $1.0 million improvement from the prior year period. Net income increased over $500,000 to $330,000, compared to a net loss of $195,000 in the prior year period. For the full-year, Cash Systems posted revenue of $32.7 million, an increase of 113.2% over 2002. Net income for 2003 was $1.7 million, compared to the net loss of approximately $971,000 in the prior year period. During 2003, the casino ATM operator began providing cash access services at Grand Casino Coushatta, the five Seminole tribal casinos in Florida, the Agua Caliente and Spa Resort Casinos, and Trump Casino in Gary, Indiana. Cash Systems recently completed a private placement which raised more than $9 million in working capital. For complete details on Cash Systems fourth quarter results visit CardData ([www.carddata.com][1]). (CF Library 3/29/04)

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

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