AmEx Golf

American Express has renewed its multi-year sponsorship agreement with the International Federation of PGA Tours and will remain an umbrella sponsor of the World Golf Championships. Over the course of its sponsorship, American Express has been able to offer special access to tickets and on-site benefits and services for Cardmembers including: golf exhibitions hosted by Tiger Woods, on-site hospitality area with interactive practice putting greens and other activities, Concierge and Travel Services site for tournament information, restaurant reservations assistance, sightseeing arrangements and other customer service assistance.

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InsideAccess

Metris Companies has “InsideAccess.” The new enhancement service provides its members with constantly updated sports and entertainment offers, including ticket discounts, special events and dining gift certificates. Specific “InsideAccess” benefits include discounted tickets to sporting events; discounts on touring theater productions, live concerts, comedy shows and local festivals; discounted dining certificates for many national restaurants; special savings at a variety of online retailers; discounts on movie tickets, video and DVD rentals, and magazine subscriptions; discounted tickets to amusement and theme parks; access to specially designed members-only events; and monthly e-mail updates on the latest discounts and offers. During the second quarter, Metris enhancement services revenues increased to $95.6 million, a 15% increase over 2Q/01 revenue of $82.9 million. In the second quarter, Metris added over 730,000 new enhancement relationships, resulting in active enhancement services memberships of 5.5 million. (CF Library 7/18/02)

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Visible Executive

New Zealand-based Visible Results announced that Gerald Lewis, the veteran retail and consumer marketing consultant, has resigned as Chairman of Visible Results USA to provide management level consulting to a limited number of U.S. and international companies in the retailing and consumer goods marketing fields. Mr. Lewis joined the Visible Results in May 2001, to guide the introduction of the patented “Visible Results GraphiCard” loyalty technology into the U.S. retailing, food service and hospitality markets. A total of three million individuals worldwide hold loyalty program membership cards based on Visible Results’ “GraphiCard” technology and CRM infrastructure. Transactions completed through all programs total a collective 1.6 million monthly, while worldwide spend through programs has reached US$21 million monthly.

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JCB EURO-CONEX

JCB International has entered into an agreement with euroConex to add and integrate the JCB card to the euroConex suite, thereby expanding JCB’s merchant businesses in the Republic of Ireland and the United Kingdom. All merchants who currently have their acquiring business with euroConex will be given the opportunity to accept JCB cards in early autumn and new merchants will be automatically offered JCB card acquiring as part of the standard euroConex suite of cards offering. JCB has a significant presence in the hotel and travel sectors in which euroConex offers extensive coverage. euroConex is an Irish-headquartered card payment processing solutions provider, established by Bank of Ireland and the US-based NOVA EuroConex Holdings, now a wholly owned subsidiary of U.S. Bancorp.

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Household Resonates

Household International has selected Resonate Commander Solutions to provide enhanced end-user experience for its business-critical applications. Household joins many leading financial services organizations that rely on Resonate solutions to manage and provide performance and availability of IP-based applications. More than 1300 financial services institutions benefit from Resonate technology including Bank of America, Barclays Bank, Bank Of Montreal, Bank of Tokyo, Charles Schwab, Chase Manhattan Corp., CIBC, Citibank, E*TRADE, Fidelity, GE Capital, Lehman Brothers, Nextcard, Southwest Securities, Standard & Poors and TraderForce.

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Tier Completes OPAY Deal

Tier Technologies has successfully completed its all cash tender offer for all of the outstanding shares of Official Payments Corporation common stock at a price of $3.00 per share. Based on information provided by Mellon Investor Services LLC, the depositary for the tender offer, 22,372,503 shares of **>Official Payments<** had been tendered (including 63,189 shares tendered pursuant to procedures for guaranteed delivery) out of 22,952,876 shares, or approximately 97.5 percent of all outstanding shares.

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GO Software Shuffle

GA-based GO Software has promoted Robert Bruderer to Director of Software Development; Norm Hayes as VP/Sales; Marco Mabante as VP/Compliance & Integration; David Plaspohl as Director of Operational Support Services and Merchant Delight; Robert Spoharski as Controller; and, LaWanda Wright as Director of Human Resources. GO Software’s head office in Savannah, Georgia has grown to 71 employees from 15 since 1999, operating offices in Nashville, Tennessee; Kennesaw, Georgia; Orange Park, California; and Chicago, Illinois.

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Euronet 2Q/02

Euronet Worldwide reported that second quarter revenues increased 16%, from $15.1 million for 2Q/01 to $17.5 million. Quarterly transactions on the company’s ATM network increased 36% from 13.8 million in the second quarter 2001 to 18.7 million in the second quarter 2002. The Company posted consolidated operating income of $953,000 in the second quarter, an improvement of $2.7 million over 2Q/01’s operating loss of $1.7 million and an increase of $807,000 over first quarter 2002 operating income of $146,000. The Processing Services segment posted second quarter revenues of $12.9 million, an 18% increase over revenues of $10.9 million for the same period of 2001. As of June 30th, Euronet owned and/or operated a total of 2,840 ATMs compared to 2,548 ATMs on March 31st. Transactions in the second quarter improved from 15.6 million in first quarter 2002. Euronet owns and/or operates ATMs in Hungary, Poland, Germany, Croatia, the Czech Republic, the U.K., Greece and Egypt. For complete details on Euronet’s 2Q/02 results visit CardData ([www.carddata.com][1]).

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

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GE Dissection

GE announced Friday that its GE Capital unit will become four separate GE financial services businesses. Effective August 1st, GE Capital will become GE Commercial Finance, GE Insurance, GE Consumer Finance and GE Equipment Management. Named to lead the four financial businesses are: Michael A. Neal, President and CEO, GE Commercial Finance; David R. Nissen, President and CEO, GE Consumer Finance; Arthur H. Harper, President and CEO, GE Equipment Management; and Michael D. Fraizer, President and CEO, GE Insurance. GE Capital Services, Inc. and GE Capital Corporation will remain as legal entities and continue as the major borrowers of funds necessary to support all of GE’s financial services activities. GE’s financial businesses generate 40% of the Company’s earnings. GE Capital Services’ revenues for its card services segment rose by only 1% during the second quarter, from $956 million for 2Q/01 to $962 million. Net earnings for card services declined by 6%. Net earnings for card services was $176 million for the second quarter compared to $187 million one year ago. (CF Library 7/12/02)

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Q Comm in PR

UT-based Q Comm International has signed Puerto Rico International Communications to an agreement to purchase Q Comm’s “Qxpress” POS terminals and license the Q Data Center technology for an ongoing transaction fee. The company will also offer Q Comm’s solutions through Zybercom Corp., a wholesaler of prepaid long distance headquartered in San Diego, that is partially owned by Puerto Rico International Communications. Zybercom’s product line includes international origination prepaid phone cards for more than 140 countries. Zybercom sells services through more than 50 master distributors in the United States and Mexico.

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HOME CAPITAL 2Q/02

Home Capital Group reported that its Home Trust Equity VISA program had 2Q/02 credit card receivable balances of $5.5 million in secured and $7.8 million in unsecured accounts. The total credit approved is
comprised of $10.1 million in secured and $10.1 million in unsecured credit
lines. Segments of the unsecured credit card portfolio experienced weaker
credit performance than projected and, as a result, unsecured credit card
issuance was discontinued in the first quarter of this year. The total
allowance provided on the VISA credit card operation amounts to $0.5 million
or 3.9% of the total receivable balance, including those VISA cards secured by
a cash deposit with the Company. Security deposits on VISA cards amounted to
$8.4 million and are included in the Company’s deposits and borrowings. The Equity Plus VISA product was launched in the first quarter. The product enables qualifying homeowners to
access from $10,000 to $50,000 of equity in their homes as needed through a
VISA credit card.

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