K23 DEPLOYMENT

Toys”R”Us (Canada) Ltd. has selected Keycorp Canada’s payment terminals for all of its stores in Canada. More than 650 of the Keycorp’s “K23” terminals will be installed. It will be the first application of the new generation payment terminals in a multi-lane retail environment. It will also be the first time in Canada that the terminals have been integrated with existing POS systems for a major retail chain. The “K23” terminal has a large backlit graphics display and ergonomic PIN Pad design. Toronot-based Keycorp Canada is a wholly-owned subsidiary of Keycorp Limited based in Chatswood, Australia.

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STANDARD SMART CARDS

Johannesburg-based Standard Bank has licensed ACI Worldwide’s “Smart Chip Manager” to issue and manage a large volume of smart cards to meet EMV requirements. The first phase of this smart card implementation provides a limited number of internal users with a Standard Bank credit card certified by MasterCard. “Smart Chip Manager” enables Standard Bank to issue a variety of smart card platforms and to keep control over the entire smart card real estate. It allows Standard Bank to develop new smart card programs and add new card products, meanwhile keeping the active schemes up to date with the latest status, applications, parameters and information. ACI’s chip card technologies support more than 20 million multiple-application cards on different operating systems/smart card platforms worldwide. Standard Bank is the largest South African banking group ranked by assets and earnings.

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Camping VISA

Ticketmaster’s ReserveAmerica unit has teamed with National City Bank to launch a rewards credit card for the outdoor recreation market and its 65 million campers. The new “VISA Platinum Camping Card” will offer cardholders with 10 points for all net purchases and 1,000 bonus points for camping reservations made with the card online at ReserveAmerica’s Web site. Under the “ReserveRewards” program, cardholders can redeem points for free camping and other items such as kayaks, GPS units, tents or clothing. Consumers can choose from a card with a scenic park picture or a family RV picture. The primary pricing for the card is a 1.9% intro APR for first 6 billing periods, then Prime +7.4% thereafter. The company said that when it surveyed a select group of its members, 87% of those that chose to respond to the survey expressed an interest in joining a “ReserveAmerica” rewards program where they could earn points for making camping reservations and 56% of that group had an interest in applying for a “ReserveAmerica” branded credit card.

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MAESTRO 1Q/03

MasterCard’s online, PIN-based global debit brand mark now appears on 466 million cards worldwide, a 10% increase over March 31st, 2002. Europe continues to be the largest cardholder base for “Maestro,” with 226.4 million cards, an almost 7% increase over year ago figures. There was a 41.7% increase in the number of merchant terminals accepting “Maestro” in Europe in the first quarter. With over 144.1 million “Maestro” cards, Asia/Pacific was the second largest “Maestro” region for the first quarter, as the number of cards in the region rose 14.4% over first quarter 2002. With 34.1 million “Maestro” cards in circulation within Latin America, the growth for first quarter of 2003 was close to 21% over the same period in 2002, and the number of merchant terminals in the region increased close to 22%. In South Asia, Middle East/Africa, “Maestro” acceptance grew 40.3% in merchant terminals in 1Q/03 compared to 1Q/02. There were close to 16.1 million “Maestro” cards in circulation in the region during the first three months of this year. Worldwide, “Maestro” is now accepted for purchases at more than 7.8 million merchant terminals in 93 countries and territories, and at 892,800 “MasterCard/Maestro/Cirrus” ATMs.

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MasterCard Interchange

MasterCard’s U.S. region Board of Directors approved changes to lower the effective interchange rate on its consumer debit programs while increasing certain interchange rates on consumer credit cards and corporate cards. In broad terms, MasterCard’s consumer credit card and corporate card interchange rates will each increase by approximately 1%, or an estimated 2 basis points. MasterCard said the credit and coporate rates were increased to address an existing competitive disadvantage. As expected, MasterCard will lower the effective interchange rate on its consumer debit programs in the U.S. region by one third, effective August 1, consistent with its settlement in the “Wal-Mart Debit Card Litigation.” The new consumer debit card interchange rate structure will consist of a “Supermarket/Warehouse” rate; a “Convenience” rate (for Petroleum, Fast Food, Convenience Store and Movie Theater categories); and an “All Other” rate.

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Genpass Executives

Genpass has named Douglas Anderson, founder of the MAC Network, as president of Genpass Card Solutions, and has also named William Raymond, formerly of Bank of America, as president of Genpass ATM Solutions. Anderson, as president of Genpass Card Solutions, will have responsibility for the Company’s debit card business, including PayCard, medical benefit cards, and other emerging products.

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