Experian Acquisitions

Experian has acquired the consumer credit assets of three regional credit bureaus. The Credit Bureau of Provo, Utah, Credit Bureau of Ogden, Utah and United One Resources, Wilkes-Barre, Pennsylvania were involved. Last month, Experian acquired the consumer credit assets of Credit Bureau of Southern Utah, located in St. George, Utah, as well as the consumer credit assets of Centroplex Credit Reporting and Collections, Inc. located in Kileen, Texas. In December, Experian acquired Credit Data Idaho, Inc., of Boise, Idaho; Credit Data Resources of Spokane, Wash; Credit Bureau of Pocatello, Inc. of Pocatello, Idaho; and Iberia Credit Bureau of New Iberia, La. (CF Library 12/9/02; 2/20/03).

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Pre-Paid POS

VeriFone’s “Omni 3750” countertop and “Omni 3600” wireless POS terminals have been deployed to support Mexico’s first Internet-enabled POS solution for pre-paid phone services. The POS application is currently being deployed on VeriFone POS terminals to 1,000 retail locations in Mexico that distribute Unefon telephone services. ORIENTEL S.A. DE C.V. Grupo B&M, a Unefon distributor in Puebla, Mexico is one of the first Unefon distributors to offer the service. The solution eliminates the need for retailers to carry traditional scratch off pre-paid phone cards by allowing them to generate print-on-demand vouchers for pre-paid services directly from the terminal.

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MasterCard Board

The chairman of Santander Central Hispano was elected chairman of the MasterCard Board at last week’s meeting in Madrid, Spain. Baldomero Falcones Jaquotot becomes the first European Bank executive to head the MasterCard board. He has been vice chairman of MasterCard’s Board of Directors since March 2001, and has been a member of the board since 1997. Falcones succeeds Lance Weaver, executive vice chairman of MBNA, who has served as chairman of MasterCard’s board since March 2001, and will continue as a member of the board. As reported last week, the president of Citigroup and chairman/CEO of Citigroup’s Global Consumer Group, Robert Willumstad, was named vice chairman of its Board of Directors. (CF Library 3/20/03)

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MASTERCARD BOARD

The chairman of Santander Central Hispano was elected chairman of the MasterCard Board at this week’s meeting in Madrid. Baldomero Falcones Jaquotot becomes the first European Bank executive to head the MasterCard board. He has been vice chairman of MasterCard’s Board of Directors since March 2001, and has been a member of the board since 1997. Falcones succeeds Lance Weaver, executive vice chairman of MBNA, who has served as chairman of MasterCard’s board since March 2001, and will continue as a member of the board. The president of Citigroup and chairman/CEO of Citigroup’s Global Consumer Group was named vice chairman of its Board of Directors. Robert Willumstad succeeds Falcones. Willumstad has been a member of the board since 1999. There are approximately 25,000 MasterCard, Cirrus and Maestro members in 210 countries and territories worldwide.

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Debit Cards 2002

VISA and MasterCard-branded debit cards generated nearly half a trillion dollars in activity last year in the USA, an 18% increase over the previous year. The number of VISA and MasterCard debit cards hit 174.9 million at the end of 2002, an 11% increase over 2001. However, the growth rate is significantly less than prior years. In 2001, VISA and MasterCard debit card dollar volume was up 39% and in 2000, the growth was 30%. Since 1997, VISA and MasterCard debit card dollar volume has grown 350%. During the same period, the number of VISA and MasterCard debit cards has grown 118%.

Debit Card Track Record
$ VOLUME # CARDS
1997: $110.5 billion 80.1 million
1998 $169.8 billion 100.6 million
1999: $232.0 billion 115.8 million
2000: $301.8 billion 135.9 million
2001: $420.7 billion 157.9 million
2002: $496.4 billion 174.9 million

Source: CardWeb.com’s CardData service ([www.carddata.com][1])

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

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Genpass Executives

Genpass continues to build one of the most experienced management teams in the ATM/EFT/POS payment industry. As reported earlier this week, Genpass hired John Gallagher, formerly of VeriFone, as SVP of Card Services. Bipin Shah, the head of Genpass, worked with Gallagher in two previous companies including Gensar and CoreStates. Shah also recently hired Douglas Anderson, former EPS/MAC CEO; Gary Staub, former head of Mellon Network Services’ merchant business; Thomas McHugh, former technology chief of Star/MAC; and most recently William Raymond, senior manager for Bank of America’s ATM network. Shah also hired Ralph Bianco, formerly with MasterCard, as SVP of the Genpass Card Solutions division. This group joins a dozen other industry executives and managers that arrived via other top networks. As a result, Genpass has grown into the #2 network ATM driver position in two years. Genpass has four divisions: Genpass Technologies, Genpass ATM Solutions, Genpass Card Solutions, and Genpass Service Solutions. (CF Library 4/29/02; 5/22/02; 7/11/02; 11/7/02; 12/11/02; and 3/19/03)

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BabyMint Brand Change

Atlanta-based college savings specialist, BabyMint, has changed its name to Vesdia Corporation. The company says the name change reflects the recent acquisition of the “NestEggz Loyalty Rewards” program from Nuvisio Corporation, as well as the addition of a entirely new client services division of the company. Known as “Vesdia Loyalty Solutions,” the new division will work with client firms in the development of private-label customer savings and investment loyalty programs in the financial services, retail, and consumer products goods industries. In January, BabyMint acquired the assets and loyalty rewards program of the NestEggz division of Nuvisio for $4.5 million cash. Last May, MBNA teamed with BabyMint to launch the “BabyMint MasterCard.” Through the “BabyMint” program, consumers receive up to a 20% rebate on purchases made through BabyMint’s network of more than 700 retailers and 127,000 grocery stores. (CF Library 5/2/02: 1/30/03)

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Iron Triangle

GTCR Golder Rauner confimed yesterday it has teamed with the former president and CEO of National Processing to form Iron Triangle Payment Systems, LLC. Armed with up to $200 million of equity capital, Thomas Wimsett is looking to form a payment processing services to be based in Louisville. From 1995 through 1997, Wimsett served as President of NPC Check Services, and from 1997 to 1999 as the EVP leading all of merchant services. From 1999 until 2002, Wimsett served as the President and CEO of National Processing. In October 2002, Wimsett resigned abruptly from NPC and Jon Gorney was named CEO. GTCR Golder Rauner also owns and operates Genpass. Other GTCR investments include VeriFone, TransFirst, Transaction Network Services, Skylight Financial, and TSI Telecommunications Services. GTCR currently manages more than $4 billion in equity capital invested in companies providing transaction processing, information technology services, financial services and marketing services. (CF Library 10/1/02; 2/20/03)

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