PAYMENT ANTENNA

UK-based Optical Antenna Solutions has developed an optical device that
can provide credit card-free ‘point and pay’ technology. The antenna,
inserted in the mobile phone to read as part of the infrared port, will be
pointed towards the payment register where a similar infrared port can be
found. A personal security code is then entered into the phone on the nine
digit key pad at which point the OAS antenna captures a light signal, which
carries the data required to authorize the transaction and exchanges it
with the register. The live trials of the antenna in a range of ‘point and
pay’ applications are currently under way in Korea. Further trials are
planned for Japan, the USA and Cambridge in the UK.

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AirTran VISA

AirTran Airways and Juniper Bank have partnered and will announced this week a new co-branded “Platinum VISA” card. The new “AirTran A-Plus Platinum VISA” includes AirTran’s frequent flier program which offers free round-trip air travel with only 12 credits or 12,000 points. The new “A-Plus Rewards” credit card program enables cardholders to earn points or credits from each purchase as well as transferred balances. Cardholders earn one point for each dollar spent on regular purchases, and two points per dollar spent on AirTran Airways ticket purchases. Cardholders can also earn additional points by transferring balances from other credit cards at the rate of one point per dollar transferred (up to 3,000 points or three credits). The new “AirTran A-Plus Platinum VISA” features a six-month 3.9% intro APR on purchases and balance transfers. The go-to rate is 14.99%. The card also carries an annual fee of $39.00. Upon activation, new cardholders receive four credits. Customers can earn a free round-trip ticket or four Business Class upgrades on AirTran Airways for 12 credits, or a free round-trip ticket on any one of 14 other airlines to destinations not served by AirTran Airways for 24 credits. AirTran Airways, formerly known as ValuJet, is America’s second-largest low-fare airline. In August, Juniper Bank acquired the Midwest Express Airlines co-branded credit card portfolio from US Bank. (CF Library 8/8/02)

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FDC France

Egg’s new “la Carte Egg” international VISA card has selected First Data to provide full cardholder and transaction processing. This is FDC’s first entry into the French payment card market. First Data has provided full card processing services to Egg since 1999, partnering with them to build the business from start-up to a 5% share of the United Kingdom card market in less than three years. Since its launch, Egg has acquired over two million customers. “La Carte Egg” will be unique to the French market in that it will offer 1% cash back on all purchases as well as offering a competitive APR of 12.99%. London-based Egg plc announced the international VISA card in France November 2nd. (CT Library 10/31/02)

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PSCU Signs PSECU

FL-based PSCU Financial Services has inked a deal to provide the Pennsylvania State Employees Credit Union with long term credit and debit processing, effective May 2003. Under the terms of the agreement, PSCU will service more than 110,000 credit card accounts and 116,000 debit card accounts for Pennsylvania’s largest credit union, which has total assets of more than $1.9 billion, and over 272,000 members. Pennsylvania State Employees Credit Union says it is anxious to utilize PSCU’s “CURewards” program which it projects could add nearly $2 million in net revenue each year. PSCU Financial Services has 500+i member credit unions and more than 6.5 million cardholder accounts. In July, Payment Systems for Credit Unions announced it was changing its name to PSCU Financial Services as part of a strategic realignment that the company launched in May 2001.

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0% APR Offers

Since the latest rate cut by the Feds, credit card solicitations featuring extended 0% introductory APRs have been flooding mailboxes. According to CardWatch (www.cardwatch.com), Citibank and Providian have extended their 0% offers in early 2004. Discover has also extended its 0% APR for balance transfers and cash advances until the end of 2003. However, Citibank’s 0% rate only applies to balance transfers. Providian’s 0% APR is limited to purchases, but requires a $100 minimum balance transfer to trigger the 0% rate. Providian is currently charging an 11.99% rate for balance transfers, based on November offers picked up by CardWatch’s market radar. MBNA continues to offer a 0% rate on cash advances and balance transfers, but both are subject to a 3% transaction fee. Capital One is maintaining a 0% APR on purchases for a six-month term for most of its direct mail offers this month. For complete details on November credit card solicitations as well as direct mail offers since 1986, visit CardWatch ([www.cardwatch.com][1]).

NOVEMBER CARD DEALS
ISSUER CARD INTRO APPLIES EXP GO-TO
Discover Platinum 0% P/B 12/03 13.99%
Providian Platinum 0%* P 1/04 11.99%
Citibank AT&T Platinum 0% B 2/04 9.74%
Citibank Platinum 0% B 3/04 10.74%
Capital One Platinum 0% P 5/03 14.90%
MBNA Platinum 0% B/C** 7/03 9.90%

* Providian requires a $100 minimum balance transfer at an 11.9% APR to
trigger intro rate on purchases

* MBNA charges 3% transaction fee for all balance transfers and cash advances

Source: CardWatch (www.cardwatch.com).

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

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Corillian & CashEdge

CA-based Bank of Stockton has become the first client for a fully integrated aggregation and Internet banking platform from a partnership between Corillian and CashEdge. Corillian will integrate CashEdge’s Advanced Aggregation platform into its Corillian OneSource Register (OSR) aggregation and online register application on the Corillian Voyager Internet banking platform. Through Corillian OSR, Bank of Stockton and other financial institutions will be able to “source” consumer financial information from over 6,000 banks, credit card companies and other financial institutions via the OFX standard used for Internet financial services, or by other proprietary means.

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TransFort & Postilion

Arcot Systems and Mosaic Software have sealed a deal to market Arcot’s “TransFort” authentication software with Mosaic Software’s “Postilion” suite of payment products worldwide. The partnership will enable all 200-plus Postilion customers to become Verified by Visa and SecureCode compliant virtually overnight. This integrated offering provides one-stop access to the services needed to make e- commerce a safe reality for consumers, merchants and financial institutions.

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CS Gold 4.0

Diebold has released a new version of its campus card solution. “CS Gold 4.0” offers 170 standard report styles and added trend analysis features using “Crystal Reports” and the ability to deny transactions that might otherwise be allowed, for example a convenience store purchase from a scholarship account. The upgraded campus card solution also features the use of “Oracle 9i,” which allows for clustering and total server redundancy and “Native Windows 2000” programming, which eliminates the need for Nutcracker middleware and makes the software simpler to support. “CS Gold 4.0” also offers Windows XP support for the graphic user interface and image import and export capabilities. The new “CS Alarm Management” module included in “CS Gold 4.0” gives colleges and universities the ability to turn any workstation into a monitoring station.

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Yaga Board

San Francisco-based Yaga, a provider of advanced payment services for online/digital content, has named former top VISA executive Michael Beindorff to its board of directors. Prior to joining Visa, Beindorff spent 15 years with the Coca-Cola Company where he held a variety of marketing and management roles including vice president, director of marketing Coca-Cola USA and vice president of advertising.

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MASTERCARD ITV

OpenTV and M@gicBox have inked a long-term deal to power the deployment of
the first interactive television service on credit card-assigned advanced
set-top boxes in the Philippines. Each set-top box deployed will be
assigned a MasterCard credit card through which all transactions relating
to the consumer and their pay TV account must pass. The deployment in the
Philippines will be on the PMSI network, a leading satellite operator, with
Nokia “8830S” set-top boxes. The initial launch includes games, and a wide
range of broadcast interactive information such as local information and
astrology, and is expected to be followed a short time later by more
advanced interactive services including transactional-based services such
as impulse pay-per-view and betting. M@gicBox has already signed broadcast
deals in other key Asian markets and will begin deployment in those markets
following the Philippines.

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MasterCard iTV

OpenTV and M@gicBox have inked a long-term deal to power the deployment of the first interactive television service on credit card-assigned advanced set-top boxes in the Philippines. Each set-top box deployed will be assigned a MasterCard credit card through which all transactions relating to the consumer and their pay TV account must pass. The deployment in the Philippines will be on the PMSI network, a leading satellite operator, with Nokia “8830S” set-top boxes. The initial launch includes games, and a wide range of broadcast interactive information such as local information and astrology, and is expected to be followed a short time later by more advanced interactive services including transactional-based services such as impulse pay-per-view and betting. M@gicBox has already signed broadcast deals in other key Asian markets and will begin deployment in those markets following the Philippines.

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