DRFS Signs Fisson

Direct Card Services, LLC, partially-owned Direct Response Financial Services, has signed a deal to handle credit card processing for Fission Group, Ltd clients. Under the agreement with Fission Group, Ltd., Direct Card Services will provide card processing capabilities to Fission Group’s clients. The companies will share in the revenue produced from card processing services, sales of point of sale devices and the sale of small business membership packages.

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Smart Card Reader Catalog

The Smart Card Alliance has launched a searchable Web-based catalog to enable businesses to locate appropriate smart card readers based card reader type, interface type and application environment. Users can browse the entire catalog with the click of a mouse and search for products according to card reader type, interface type and application environment. The catalog also performs keyword searches.

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Concord EFS 2Q/02

Concord EFS reported second quarter net income of $95.6 million on revenues of $538.2 million. Concord EFS also announced an alliance with Certegy, in which each will provide its core processing services to the other company’s retail clients. For 2Q/02, Concord EFS’ net income, including charges for restructuring and litigation settlement, was $63.2 million, an 11% increase over 2Q/01. Concord’s STAR network added 45,000 new merchant locations during the first six months of this year. Consumers may now pay with their STAR ATM/debit card at 895,000 retail locations across the U.S. New STAR network interchange was implemented for STAR point of sale transactions in April. Concord also completed its acquisition of TX-based Core Data Resources during the second quarter. Concord’s business relationship with Certegy goes back to 1999, when Concord first included Certegy in a portfolio of check authorization providers that Concord offered in its check services product line. Under the terms of the new agreement, Concord’s Check Conversion and Warranty Service will be powered by Certegy. The check services will be integrated on Concord’s proprietary STAR Universal Terminal along with credit, debit, electronic benefits transfer, IDLogix age verification, electronic coupons, and customized receipts. Check conversion on the STAR terminal will not involve check image capture because it leverages Certegy’s ability to minimize fraud through its proprietary risk modeling capabilities. For complete details on Concord EFS’ 2Q/02 results visit CardData ([www.carddata.com][1]).

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

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PayPal & FrontPage

PayPal has integrated its e-commerce payment solution with the Microsoft FrontPage 2002 website creation and management tool to enable simple credit card processing and subscription billing services for FrontPage web developers. The “1-2-3 PayPal Purchase Button Wizard for Microsoft FrontPage” is a free FrontPage add-in wizard developed by Auction Messenger, a leading developer of Windows-based utilities for managing eBay auctions.

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IPSPayment.com Exec

IPSPayment.com has appointed Justin Scanlon, formerly of VISA and MBNA, as Director of Marketing. IPSPayment, 800America.com’s wholly-owned subsidiary, permits secured global on-line currency transfers and provides its membership an easy and secure way to pay each other for their on-line transactions. It also enables members to comfortably ship funds quickly to family or friends for a fee that is substantially less than is currently available elsewhere.

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Bankruptcy Reform Snag

The bankruptcy reform legislation bogged down again after pro-life Republicans withdrew support. The House failed to vote on the package last week and Senate leaders are now expected to delay a final vote until September. The House has already adjourned for its month-long recess over the weekend. The pro-life Republicans led by Rep. Christopher Smith (R-N.J.), balked at an amendment to bill that made accommodation over protesters at abortion clinics. Last week, Sen. Charles Schumer and Rep. Henry Hyde settled their differences over abortion-related language in the bankruptcy reform legislation. The abortion provision prevents protestors, who bar others from abortion services through the use of intimidation or interference, the ability to discharge debts arising from those actions. It now appears that legislation could pass this fall and become effective next spring. (CF Library 5/20/02; 7/26/02)

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MeGA Pay Card

Comdata has launched the Movie Gallery “MeGA Pay” card, a card-based payroll product to replace paper payroll checks for all Movie Gallery store associates nationwide. Movie Gallery is the third largest video specialty U.S. retailer with over 1,462 stores, and 11,000 associates in 41 states. Introduced in 1994, the Comdata payroll product enables employees with or without banking relationships to receive payroll and other company-provided funds on their own secure, personal MasterCard payroll card. More than 500,000 employees currently receive payroll and other funds via the Comdata card. Two weeks ago Comdata announced the launch of the “Sears PayCard.” (CF Library 7/17/02)

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AMEX CARD HEAD

American Express has named Beth Horowitz to the position of Regional President and General Manager for Amex Canada Inc. and President & CEO, Amex Bank of Canada. She will head the Canada Executive Team and directly manage the Canadian Consumer Card and Small Business Services. Most recently, Ms. Horowitz was SVP, Product Development for International Consumer Card Services, based in London. Previous positions included heading Product Management and Marketing for American Express Bank; VP/Quality and Reengineering; and VP/Business Strategy for the company’s Global Network Services business. Ms. Horowitz will be based in Markham and will report to Vijay Parekh, President, International Consumer and Small Business Payments and Financial Services for American Express.

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Metavante Acquisition

Metavante Corporation announced this morning the signing of a definitive agreement to acquire the assets of Spectrum EBP. Spectrum is a privately held, Atlanta-based company that was founded in 1999 by J.P. Morgan Chase, Wachovia, created by the September 1, 2001 merger between Wachovia Corporation and First Union, and Wells Fargo. Metavante has existing bill payment contracts with the three founding member banks of Spectrum, as announced in August 2000. Including the three founders, 24 financial institutions currently belong to the Spectrum network or have signed letters of intent to participate in the network. This is the second electronic presentment and payment acquisition the company has made in July. In early July, Metavante announced its plans to acquire the assets of Paytrust. (CF Library 7/2/02)

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PAYSYS PRESENCE

First Data’s PaySys International subsidiary has opened a São Paulo-area office. The new office was formed through the acquisition of select assets, including client contracts and staff, from Alit do Brasil, Ltda., which provided VisionPLUS programming support in Brazil. The office will have a local staff of 60 employees to provide VisionPLUS card transaction processing software support and to represent the entire global suite of card and merchant processing and payment services offered by First Data. First Data also named Gil de Paula Xavier Moro as VP/GM of the Latin America region responsible for business development and daily operations of the new office as well as the company’s San Jose, Costa Rica location. Moro previously worked for Banco Meridional/Bonzano, Simonsen and American Express Brazil.

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E4X Signs Paycom.net

Paycom.net has signed a deal for E4X to provide local currency functionality to Paycom’s clients. E4X, Inc., a provider of an online multi currency solution, enables businesses to sell in local currencies without currency risks. Paycom will offer its clients the ability to display final, guaranteed prices in local currencies on their Web sites, while receiving settlements in US dollars.

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>$1 SMART CARDS

Colorado-based CPI Card Group is manufacturing and now offering a $0.99 single application VISA smart card for card issuers which uses chips from STMicroelectronics. The ST chip being used in this card is a mainline product used by several major card manufacturers. It will have a fully compliant VSDC application, based on the VIS 1.3.2 specification and will be EMV 3.1.1. The new card is a “Visa Smart Debit / Credit” “VSDC” card delivered for an affordable price through VISA’s low cost smart card program.

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