MSL Takes Over Ingenico’s Barcelona Plant

Paris-based Groupe Ingenico has selected Massachusetts-based MSL as its primary worldwide strategic supplier, providing global support for Ingenico’s electronic payment terminals. As part of the multi-year agreement, Ingenico’s subsidiary Telesincro, located in Barcelona, Spain, will transfer to MSL its manufacturing employees with technical expertise in EFTPOS and secure payment products, as well as certain assets and manufacturing space. The Barcelona plant, formerly Ingenico’s only internal manufacturing site, manufactures approximately 600,000 terminals annually, approximately 40% of the company’s global demand. MSL will provide manufacturing, build-to-order (BTO), order fulfillment, and repair services to Ingenico from Barcelona and from additional locations worldwide.

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Fair Isaac’s Profits Double in 2Q/03

Fair Isaac reported second quarter revenues of $163.0 million, a 79% increase over 2Q/02, lead by explosive growth in Strategy Machine Solutions. Net income for the quarter was $30.0 million, compared with $14.4 million, in the same quarter last year. Scoring Solutions revenues for the quarter were $34.5 million, 2% gain over the same year-ago quarter. Strategy Machine Solutions increased 144%, from $39.9 million in 2Q/02, to $97.4 million in 2Q/03. Professional Services revenues were up 57% to $21.9 million. Analytic Software Tools revenues increased 162%, from $3.5 million to $9.2 million during the quarter. For complete details on Fair Isaac’s 2Q/03 results visit CardData ([www.carddata.com][1]).

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

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INTERNATIONAL CITICARDS

Citigroup reported that credit card outstandings for the EMEA region were up 32% for the second quarter, while card loans in Latin America fell by 20% and down 9% in Japan. At the end of 2Q/03, Citigroup had 14.0 million credit card accounts outside of North America, a 7% increase over 2Q/02. Charge volume for international credit cards was up 10%, to $9.0 billion for the second quarter. Total outstandings for international cards were $12.2 billion as of June 30th, a 13% gain over one year ago. In Japan, credit card loans were dipped below $1.0 billion. In the rest of Asia, credit card loans grew 9% to $6.3 billion. Citigroup holds $4.1 billion in card loans for the EMEA region and $400 million in Latin America. Delinquency and charge-offs increased during the second quarter for international cards. Delinquency (90+ days) increased from 1.97% in 1Q/03 to 2.04% for 2Q/03. Charge-offs increased from 4.09% in 1Q/03 to 4.60% for the second quarter.

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Metris Loss Narrows to $15.7 Million

Metris Companies/Direct Merchants Credit Card Bank reported a net loss for the second quarter of $15.7 million, compared to a $25.0 million loss in the first quarter, and $36 million loss one year ago. Managed credit card loans at the end of the second quarter were $10.1 billion, compared to $10.7 billion in the first quarter, and $11.4 billion one year ago. Metris says the decrease in managed portfolio balances was due to continued slower account growth, tighter underwriting standards and more stringent credit line management strategies. During the second quarter, the managed net charge-off rate for the second quarter was 19.1%, compared to 18.0% for the prior quarter, and 14.9% for the second quarter 2002. The managed 2Q/03 delinquency rate was 11.2%, compared to 11.5% at March 31st, and 10.1% at June 30, 2002. For complete details on Metris/Direct Merchants Credit Card Bank 2Q/03 results visit CardData ([www.carddata.com][1]).

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

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GCA Signs Foxwoods for Casino Cash Services

Global Cash Access has signed Foxwoods Resort Casino and 14 other properties for cash access services including “QuikCash Plus Web” and the “Automated Cashier Machine.” Foxwoods is the largest casino in the world with more than 320,000 square feet of gaming space in a complex that covers 4.7 million square feet. The Automated Cashier Machine, or ACM, is a “smart ATM” that uses facial biometrics recognition technology which offer customers a quick way to access cash access services and other entertainment needs in a single stop – without human assistance.

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Triton ATMs use ScanSoft RealSpeak

Triton has selected “ScanSoft RealSpeak” to voice-enable ATMs nationwide. RealSpeak easily guides a visually impaired user through a transaction, which includes instructions to assist with account balance, cash withdrawal, results of the transaction, errors that may have occurred and other pertinent information. ScanSoft’s RealSpeak is the market-leading product for converting text into human-sounding synthesized speech, and the technology is used for a wide range of applications.

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EURO-PLANET SERBIA

Razvojna banka Banja Luka has become Euronet’s tenth bank customer for EFT outsourcing services. The deal came through EuroPlanet, Euronet’s joint venture in Serbia with Komercijalna banka, and Arius. EuroPlanet has contracts in place with seven banks in Serbia and Montenegro and three in Bosnia Hercegovina. As of July, 50 ATMs, 76,000 debit cards and 312 POS terminals are being operated from EuroPlanet’s processing center in Belgrade. EuroPlanet estimates that it now services approximately 40% of all ATMs in the Serbian market and approximately 30% of all cards in the Serbia and Montenegro market.

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Advanta Business Card Loans Up 28%

Advanta reported that its “MasterCard Businesscard” portfolio hit $2,807,945,000 in the second quarter, compared to $2,744,182,000 in the first quarter, and $2,188,046,000 one year ago, a 28% gain. Card volume for the second quarter increased more than 28% over 2Q/02, to $1,677,804,000. Business Card results for the second quarter included an approximate 100 bps decline in net principal charge-offs on managed receivables to 8.0%, on an annualized basis, as compared to 9.0% for 2Q/02. Over 30 day delinquencies on managed receivables declined 31 bps to 6.28%, and over 90 day delinquencies on managed receivables decreased 17 bps to 3.19%, as compared to second quarter 2002. For complete details on Advanta’s 2Q/03 performance visit CardData ([www.carddata.com][1]).

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

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Certegy’s Revenues and Profits Decline Slightly

Certegy reported second quarter revenue of $247.4 million and net income of $23.0 million, a decline of 3.1% and 0.1% respectively. Card Services generated revenue of $160.3 million in the second quarter, a decline of 7.1% over the 2002 quarter, due largely to declines in South America. Card Issuer Services 2Q/03 revenues declined 1.6% to $114.3 million. Check Services generated revenue of $87.1 million in the second quarter, an increase of 5.1% over 2Q/02. Merchant Processing Services produced revenue of $43.7 million, a 19.4% decline over the same year-ago quarter. Software and Support posted 2Q/03 revenues of $247,392, a 3.1% decline over 2Q/02. Certegy’s global card base totaled 45.1 million at quarter-end, with 23.0 million domestic cards, and 22.1 million international cards. Domestic card issuing transaction volumes increased by 9.8% over the prior-year quarter, driven primarily by 18.2% growth in debit card transactions. For complete details on Certegy’s 2Q/03 results visit CardData ([www.carddata.com][1]).

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

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Netegrity Revenues Up 13% in 2Q/03

MA-based Netegrity reported second quarter revenues of $18.9 million, a 13% increase over first quarter revenues. License revenues for the second quarter of 2003 were $10.7 million, a 27% increase over license revenues of $8.4 million in the first quarter. Netegrity had $94.2 million in cash and marketable securities, as of June 30, 2003. The Company expects growth in license revenue for Q3 versus Q2 of approximately 3 percent, which would equate to total revenue growth by 3 percent as well.

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ABN AMRO & NACHA

Netherlands-based ABN AMRO has joined Virginia-based NACHA – The Electronic Payments Association. NACHA now has 37 members consisting of 21 payments associations and 16 financial institutions. The other financial institution members of NACHA are American Express Centurion Bank, Bank of America, Bank One, BB&T Corporation, Capital One, Citibank, Commerce Bank, Discover Bank, FleetBoston Financial, J.P. Morgan Chase, Mellon, National City, U.S. Bank, Wachovia, and Wells Fargo. ABN AMRO is an international bank with total assets in excess of EUR 600 billion.

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NPC Nails Sheetz’s Processing Contract

National Processing has signed a multi-year credit and debit card processing agreement with Sheetz and its 290 locations in five states. Sheetz, founded in 1952, has become one of the industry’s leading quick service retailers. Every store features a touch screen ordering system, this technology combined with upgraded back office software and fast checkout scanning systems allows Sheetz to service their customers better and faster than the competition.

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