PayPal Merger

As eBay presses forward with its acquisition of PayPal, the New York State Attorney General announced an agreement yesterday with PayPal to discontinue its payment services to online gambling merchants. PayPal also agreed to pay penalties of $200,000 to the State of New York to cover the Attorney General’s costs of investigation. eBay previously announced that it intended to discontinue PayPal’s current business operations related to payment processing transactions for merchants involved in online gambling activities after it completes its acquisition of PayPal. PayPal also announced Wednesday that it has set Thursday, October 3rd as the date of the special meeting of stockholders to vote on the proposed merger with eBay Inc. and Vaquita Acquisition Corp. Earlier this week, PayPal and eBay announced that the waiting period under the Hart-Scott-Rodino Antitrust Act expired yesterday, giving the green light to eBay’s acquisition of PayPal.

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INSIDE CONTACTLESS

Aix-en-Provence-based Inside Contactless, formerly known as Inside Technologies, announced the appointment of Stephen Riegel, former Texas Instruments Business Development Manager for the East Coast US as Vice President of Business development for the North American region. Riegel will be in charge of the upcoming office based in the US. He was previously involved in the RFID market as Business Development Manager for Motorola Inc. Inside Contactless is a supplier of contactless chips and readers, offering a range of solutions for emerging markets like transport, access control, payment, identity, and electronic identification.

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PAY-SAFE-NOW SALES

Dublin0based FreeStar Technologies announced that the Company’s Latin American subsidiary, ePayLatina, secured orders for 20 POS solutions and is following up on over 1000 inquiries
received from small business owners who attended a recent industry exhibition. In association with Bancredito, ePayLatina is offering merchants the opportunity to select from three turnkey, point-of-sale
operating systems, which range in price from US$699 to US$1299. FreeStar also noted that 60 ePayPad units were sold at the technology fair to individuals for personal use on their home computers. The ePayPad is a proprietary card-swipe device that plugs into a personal computer and is engineered to permit a user to complete secure PIN-authenticated ATM and debit card transactions on the Internet.

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Vital Renews TransFirst

Vital Processing Service has renewed its contract with TransFirst to provide end-to-end merchant processing services, including authorization, capture, clearing and settlement of payment transactions. Currently reporting annual sales volume of approximately $5 billion, TransFirst is projecting continued processing volume growth of more than 30 percent as it continues to expand its services and market expertise.

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GEMPLUS SIMS

Gemplus say it has shipped 500 million SIM cards of the 1.36 billion SIM cards delivered globally to-date. Gemplus says the Asian market is emerging as one of the strongest areas for dominant
SIM growth. While growth in Western Europe is stabilizing, Asia is still on an upward curve. Of the 215 million new subscribers worldwide in 2001, 95 million were based in Asia Pacific. Overall, Gemplus has delivered over three billion smart cards since its beginning in 1988.

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