Bank One Personas

Bank One is deploying the new NCR “Personas” ATMs that offer enhanced deposit technology that eliminates the deposit envelope, directly accepting checks and cash. Using NCR’s no-envelope ATM deposit technology, deposited checks are scanned and an image of the check appears on the ATM screen, allowing the customer to immediately verify the check amount. The check image is also printed on the customer’s receipt, along with a full count by denomination of all inserted cash. This total view offers proof of the deposit and a more complete account than currently offered at the teller window. Bank One is applying NCR’s “ImageMark” distributed capture system to process ATM check images in the back office. This state-of-the-art technology is being piloted for customers in select locations in Indiana and Kentucky. The new ATMs are driven by Concord EFS’ “Star” network.

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[1]: /graphic/ncr/moneydeposit.jpg

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Navy CardGuard

The world’s largest credit union has become the first U.S. issuer to offer MasterCard’s new “SecureCode” authentication system to its cardholders. Navy Federal Credit Union’s new “CardGuard” service is also the first live system to combine “Verified by Visa” and “MasterCard SecureCode” as a single integrated service. The VISA and MasterCard authentication systems are used by cardholders during online transactions at participating merchants. The new service is delivered by TSYS and powered by Cyota’s “SecureSuite” platform. Cyota currently powers 80% of all VISA cardholder accounts that are eligible for Verified by Visa in the USA. Navy Federal has more than $17 billion in assets, 2.2 million members worldwide, and 259 proprietary ATMs worldwide. According to CardData ([www.carddata.com][1]), Navy FCU had 761,181 gross accounts; 538,935 active accounts; and 973,679 cardholders at the end of the third quarter.

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

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FINGERPRINT ORDER

Fingerprint Cards AB has nailed another order from Texas-based AcciMetrix
and Calgary-based Cryptolex for its fingerprint technology. The two orders
have a combined value of 6.0 MSEK. AcciMetrix has now given Fingerprint
Cards an order for an additional 9,000 complete systems for fingerprint
verification, over and above the 1,000 systems first ordered. Cryptolex has
now given Fingerprint Cards a first order for 1,000
complete systems for fingerprint verification. The Fingerprint system is
completely chip-based, and reads, stores and compares fingerprint patterns
without the help of an external processor.

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Freedom III

TD Canada Trust is deploying a new high-speed, Internet-enabled POS terminal that can approve a credit or debit transaction and print a receipt in four seconds or less. The “Freedom III” terminal, produced by MIST, is an integrated POS terminal and thermal printer with a touch-screen, and a graphical user interface that merchants can use to authorize credit and debit card transactions, access on-line web banking services, store transactions and generate hourly and daily reports. The “Freedom III’ uses 128 bit SSL encryption for Internet transactions. The new terminal was officially launched yesterday in Toronto. To try out the new terminal, selected guests were given a CN$100 credit card to make purchases at a local skin care store with the products donated to a local charity. The terminal is also smart card ready.

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[1]: /graphic/mist/freedom3.jpg

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ATM CASH

The Royal Bank of Scotland Group reported that holiday transaction volume
at its ATMs are up 2% this year. In the first 11 days of December
£222,321,250 was withdrawn from around 1,600 cash machines.
The number of withdrawals has also risen from 3,897,027 to 3,910,619 and
the average cash machine withdrawal has also risen slightly to £56.95 (from
£56.06). The busiest Royal ATM in London is the Liverpool Street Station.

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Bauer Debt Formed

NY-based The Bauer Partnership confirmed plans this morning to enter the debt purchasing market with the formation of a wholly owned subsidiary, Bauer Debt Purchasing Corp. The new entity will seek to acquire large non-performing debt portfolios, including credit card debt. Bauer plans to acquire these large portfolios by utilizing its common stock as a currency and acquiring such debt at large discounts in bulk amounts. Bauer Debt will then enter into revenue sharing agreements with various national collection agencies in order to convert such portfolios into performing debt. The value of purchase debt is currently estimated at $2.4 billion. The prime debt share of the market is the largest with 40%, followed by fresh (33%), secondary (14%) and tertiary (13%).

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ACE & NC

ACE Cash Express and the State of North Carolina have settled a legal dispute over payday loans after ACE agreed to withdraw its lawsuit against the State over a federal preemption matter and the State agreed to end its suit against ACE. ACE will continue to provide check cashing, bill payment, wire transfers and money orders to meet the needs of consumers. The Company will continue to operate its check cashing business in compliance with the state law as it has in the past.

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FREESTAR & RAHAXI

Dublin-based FreeStar Technologies and its Rahaxi Processing
subsidiary have signed a processing agreement with Settlement Services
Limited for US$200 million in monthly transaction volume. Rahaxi Processing
Oy, acquired by FreeStar Technologies from Heroya Investments in September,
is a payment service provider based in Helsinki, Finland, offering full,
card present, payment processing; transaction authorization, data capture
and settlement facilities for VISA, MasterCard, American Express, Diners
Club and all bank-issued domestic debit cards. Rahaxi also provides
specialist value-added processing applications for fleet, fuel and loyalty
card schemes. Approximately US$10 million has been invested in the
development of Rahaxi’s hardware, software and brand name, to date.
FreeStar says the deal will contribute approximately US$1.6 million to
FreeStar’s gross revenues per month.

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