GSB Financial Services, Inc. announced the introduction of a private-label “pre-paid cash card” known as the “I-Card.”

The I-Card has been introduced to GSB by Digital World Financial, Inc. as Digital World’s first step in providing GSB with specialty financial services. The I-Card functions much like a prepaid phone card, except that it has the same utility as a charge or debit card, including full ATM capability. The target market for this card is segmented into consumers and merchants.

Targeted consumers would be:

— travelers not wanting to risk their debit cards in foreign/domestic transactions,

— consumers concerned about online shopping charge fraud or the recent security breaches of online retail sites,

— parents wanting to provide their children with a safe and controlled source of funds. Targeted Merchants would be:

— merchants seeking to issue a prepaid cash card (private-label) to consumers so as to lower credit card fraud and chargebacks, which have become rampant in some industries,

— merchants desiring to create increased brand awareness and consumer loyalty through comprehensive customer loyalty and incentive programs,

— merchants desiring to provide their customers with increased privacy and discretion with charges now appearing on their charge statements.

Steve Browning, CEO of GSB said, “I am especially excited about the I-Card product because it will enable many of our customers to increase their revenues without increased cost because of its ability to lower and virtually eliminate credit card fraud and chargebacks. This innovative solution to a very real market need will eliminate a significant roadblock to enhanced sales growth by our customers. The I-Card represents a very significant step forward in our plan to provide quality financial services to our customers, and strengthens our technology stream focused on risk mitigation and loss reduction.”

GSB Financial Services, Inc. develops proprietary technology solutions to exploit opportunities in the Financial Services Industry. Focusing on the continuing technology revolution in the newly developing e-Finance environment, GSB Financial is leading the way in the Financial Services Industry with innovative technologies.

Digital World Financial, Inc. provides 21st century electronic financial transaction software solutions to the forward thinking company and the financial services industry globally. Utilizing a best of breed approach Digital World Financial provides only state of the art software solutions to international banks and e-commerce companies. [www.digitalworldfinancial.com][1]

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


ISO Theft

Humboldt Bancorp confirmed this morning that the principal of one of its ISOs, that contractually operates 138 ATMs in the New York and New Jersey area, is missing, along with $5 million in cash belonging to Humboldt. The bank says it noticed irregularities last week with this particular ISO. After numerous attempts to communicate with the principal, they contacted law enforcement authorities, and learned that he had been reported missing. Humboldt believes the circumstances that permitted the perpetration of this fraud are isolated to this single ISO. However they are currently reviewing all their loss prevention and detection policies. ATM funding represents about 4% of Humboldt’s total third quarter revenues. As a result, the bank will take an after-tax charge against earnings of approximately $3.1 million at the end of the current quarter. Humboldt established its ATM funding operation in 1997 and currently provides funding for 1,350 ATMs operated by 22 ISOs throughout the country.


Stockback MasterCard

Chase and Stockback Capital have teamed up to offer a new co-branded MasterCard that offers cash rebates, up to 11%, which are automatically swept into an investment account. Stockback was launched in June 2000 with $33 million and has since signed up more than 100 merchant-partners. The ‘Stockback MasterCard from Chase’ offers up to 10% back with participating merchants and at least 1% back on every purchase. Once a month, Stockback rewards are automatically placed in a mutual fund account managed by Merrill Lynch. After earning $10 in credits, a cardholder is eligible to invest that in the fund. Cardholders can also invest directly in the fund without earning store credits. Merchants pay Stockback a flat rate or percentage fee. Some of the major participating merchants include US Airways, Sunoco, Barnes & Noble, CVS Pharmacy, Galyan’s, Radio Shack, Linens & Things, and Jos A Bank. Stockback’s investors include RRE Ventures, TH Lee Putnam Internet Partners, NeoCarta Ventures, and Ernst & Young. The new card carries no annual fee and an introductory rate of 2.99% on purchases and cash advances. Afterwards, interest rates for ‘Platinum’ cardholders range from 9.99% to 12.99% depending on the balance and current relationship with Chase. APRs for ‘Standard’ cardholders is 13.99% for ‘Chase Banking’ customers and 14.99% for non-customers.


Souped-Up Drive-Up

Diebold has revamped its freestanding ‘1074’ drive-up ATM island to improve usability and operational efficiency along with an attractive contour fascia. The 12.1-inch sunlight viewable display and improved lighting offer enhanced visibility, while lead-through indicators assist users in completing their transactions more efficiently. The enhanced design also offers the latest ‘ix Series’ features and functions, like thermal receipt and statement printing, an ANSI keypad and a dual scan deposit module for check imaging.



TSYS is poised to
capture a greater share of the rapidly growing debit payments market with its
licensing of software from ACI Worldwide. Through this
offering, TSYS will provide its clients with the ability to switch and route
transactions through any PIN-based (on-line) debit network as well as a third-
party gateway into international ATM networks. It also allows TSYS to provide
its clients with brand-neutral support for any card product.

TSYS will begin implementing ACI’s software into its newly designed
Integrated Payments Platform, providing the ability to conduct domestic and
international PIN-based debit transactions, including on-line transaction
processing, switching, routing and ATM terminal driving. TSYS has processed
domestic, signature-based (off-line) debit transactions since the 1970s.

“ACI is the industry-leading software provider for debit networks
and by
incorporating their software with our Integrated Payments Platform, we will be
able to provide direct access to all major ATM networks,” said Debra Wohlrab,
group executive of TSYS Integrated Payments division. “TSYS will be the only
processor to offer the product with the proven architecture and flexible
option-driven structure of our Integrated Payments Platform.”

“TSYS has a tradition of leadership and innovation, and this new offering
reflects their commitment,” said Mark Vipond, president of ACI Worldwide. “As
debit card use grows, TSYS can count on ACI’s proven software to quickly and
reliably route on-line and off-line transactions-and meet the ‘always
available’ processing needs of their clients.”

ACI provides TSYS with an integrated processing infrastructure that
securely and reliably processes debit card transactions. The system can
address a wide range of needs for debit card processing, including multi-
currency and emerging security schemes, all on a platform that sets the
standard for reliable and scalable transaction processing.

About ACI Worldwide

Every second of every day, consumers are initiating electronic payment
transactions — getting cash at ATMs, using debit and credit cards to make
purchases in stores and on the Internet, banking by phone and PC, paying bills
online. Twenty billion times a year, ACI software is used to process these
transactions, powering the world’s online payment systems. ACI was founded in
1975 and pioneered the development of applications and networking software for
online transaction processing. Today more than 530 customers in 79 countries
use ACI-supplied software. Visit ACI Worldwide on the Internet at

About TSYS

brings integrity and innovation to the world of
electronic payments. TSYS serves as the integral link between buyers and
sellers in the rapidly evolving universe of electronic payments. With more
than 200 million accounts on file, TSYS makes it possible for millions of
consumers to use their credit, debit, stored value, commercial, smart and
retail cards anytime, anywhere through any medium or portal. TSYS and its
family of companies offer a full range of acquiring and issuing services from
accepting and settling electronic payments for goods and services, to credit
applications, bankruptcy and collections. Based in Columbus, Ga., TSYS
processes for 23 countries, in 14 currencies, in four languages and maintains
operations in Canada, Mexico, Japan, and the United Kingdom.


LA ISO Expansion

Single Source Financial Services Corporation, a financial services provider, announced that it has signed a binding and irrevocable 18-month option to purchase CardReady International Inc. from MBBRAMER, INC.

CardReady International Inc., a “third-party” credit card processor, currently provides merchant credit card processing services to small and mid-size businesses. As such, CardReady is responsible for the acquisition of merchant processing relationships on behalf of banking institutions. CardReady has doubled its processing volume since August 2001 when Single Source began placing its merchant clients with CardReady.

The acquisition of CardReady will allow Single Source Financial Services Corporation to gain significant market share in the credit card industry by combining the technological and processing capabilities of CardReady, with the marketing expertise and capabilities of Single Source Financial’s existing subsidiary, Single Source Electronic Transactions, Inc. CardReady International Inc. has several key relationships that allow it to provide its merchant customers with the highest quality of processing services.

CardReady is under contract with KeyCorp, one of the nation’s largest multi-financial services companies, to provide its subsidiary, KeyBank, with merchant acquisition services for Visa and MasterCard processing. Vital Processing Services(R), a leader in technology-based commerce enabling services (formed by Visa U.S.A., and by Total System Services, Inc. (NYSE:TSS)), is the exclusive provider of all processing related services for CardReady International Inc. Through its relationship with KeyBank, CardReady has the capacity to process in excess of $120,000,000 per month in credit card transactions, which according to company projections, would relate to significant annual revenues.

General Credit Forms (GCF), the largest manufacturer and distributor of POS and ATM related products, has contracted with CardReady to provide CardReady’s merchant customers with overnight delivery of GCF’s product line. Arnold F. Sock, Chief Executive Officer of Single Source Financial Services Corporation, commented: “Single Source currently places its merchant clients with CardReady. By signing the option for the purchase of CardReady, we have set up a future track for the company that will allow us to grow our customer base and to benefit from the resulting increase in revenue that we project. “Single Source already provides CardReady with its considerable marketing and sales abilities and CardReady offers Single Source its superior processing services. We have always given our customers superior services, now we have the opportunity to own the means by which those services are delivered. We have also effectively locked-in an acquisition price, which we believe will prove to be a significant discount from the true value of CardReady when we exercise the option.”

Jim Berland, President of CardReady International Inc., stated: “Currently CardReady’s assets include our advanced technology and our relationships with key vendors (KeyBank, Vital Processing Services(R) and GCF). These types of relationships are critical to the success of any company in the credit card processing service industry. We have focused on perfecting the service side of the business. Now, together with Single Source Financial Services Corporation, we will have our superior products made known to an exponentially greater marketplace. This should provide very strong results.”

Single Source Financial Services Corporation

Single Source Financial Services Corporation provides financial products and services to small and mid-sized businesses. The company’s initial business focus is the selling and leasing of credit card processing equipment, as well as the selling of third-party processing services, to “brick and mortar” and Web-based merchants. MBBRAMAR, INC. is owned and controlled by certain shareholders and directors of Single Source. The purchase price to be paid by Single Source for CardReady under the option will be determined by a formula based on an independent third-party valuation of CardReady and the value of Single Source common stock at the time of exercise of the option. For more information, visit [www.mysinglesource.com][1] or [www.magnumfinancial.com][2].

[1]: http://www.mysinglesource.com/
[2]: http://www.magnumfinancial.com/



First Atlantic Commerce, a leading e-commerce solution provider in Bermuda,
Cardservice International, a leading U.S.-based transaction processing and
payment solution provider, announced they have agreed to jointly offer
international payment solutions to U.S. and European businesses.
The new service, cGateWorld, is the first joint Internet payment offering of
Cardservice and First Atlantic Commerce.

First Atlantic Commerce and Cardservice International can provide merchants
expand into the global arena with international e-commerce solutions for
multicurrency pricing and split jurisdictional payment settlement. Global
multi-currency services allow customers and merchants to transact business in
their currency choice. In addition, split jurisdictional settlement enables
U.S. merchants to settle domestic credit transactions in the United States,
have payments with universally accepted cards, such as MasterCard and Visa,
settled to an international jurisdiction.

“As the needs of international merchants who sell goods and services online
have grown and become increasingly more complex, we have continually evolved
our e-commerce solutions with new capabilities,” said Andrea Wilson, chief
executive officer for First Atlantic Commerce. “We’ve observed that many of
Cardservice International’s merchants need global payment solutions for their
Web sites. Now we can bring to these merchants the benefits of leveraging
corporate tax advantages through payment settlement in the Caribbean and Latin
America region, including Bermuda.

According to John Burtzloff, Cardservice International’s vice president of
Sales, “At Cardservice International, we recognize the range and quality of
First Atlantic’s services and we also see the potential we have to satisfy our
international merchants’ needs by co-marketing our e-commerce services.

This is
good for both our organizations and for our merchants who will now be in a
position to enjoy the benefits of our combined services.”
First Atlantic Commerce specializes in developing customized multicurrency
payment solutions for e-commerce merchants. Located in Bermuda, First Atlantic
Commerce operates within the credit card associations for the Latin America,
Caribbean region, enabling merchants to access a wider range of regulations
payment options. The company works with reputable banks on behalf of merchants
and adheres to jurisdictional compliance requirements.

About First Atlantic Commerce Ltd.

First Atlantic Commerce, a Bermuda-based e-commerce provider since 1998,
specializes in consulting services to acquiring banks for Internet enablement,
and secure payment solutions for online merchants. Through custom software
systems, the company connects merchants to major international credit card
processors, as well as numerous globally recognized banks, ensuring fast and
secure transaction processing. cGate(R) and cGate(R) Secure were developed by
First Atlantic Commerce using the latest technology and highest levels of
encryption. First Atlantic Commerce provides universal payment solutions such
as multicurrency and multiple jurisdiction settlements to enable merchants to
access the global marketplace. For more information on First Atlantic
visit their Web site at
http://www.firstatlanticcommerce.com or
submissions@fac.bm or contact 441-296-5598.

About Cardservice International

Headquartered in Moorpark, California, Cardservice International provides a
wide range of noncash transaction processing options to local, regional and
national traditional and Internet businesses. With more than 125 million
transactions annually — from point-of-sale credit card processing to
e-commerce solutions — Cardservice International is recognized as a leader in
electronic commerce and payment services. Established in 1988, the company
processes every type of electronic payment method, including credit, debit,
electronic benefits transfer and electronic checks. In addition, Cardservice
offers popular point-of-sale hardware and software for brick-and-mortar and
Internet payment acceptance. To prevent and monitor fraudulent activities,
Cardservice International has one of the largest chargeback and loss
departments in the industry. Cardservice supports its merchants with customer
service 24 hours a day, 7 days a week, in more than 140 languages and
First Data Corp., a global leader in electronic commerce and payment services,
holds a 50% equity position with Cardservice. For more information about
Cardservice International visit cardservice.com.


MSN Money Pro

Microsoft has signed a strategic agreement with Corillian to provide the Microsoft Web-based subscription service, currently code-named ‘MSN Money Professional’, to Corillian for integration and distribution to the U.S. banking industry. As the first .NET service for the financial services industry, ‘MSN Money Professional’ will enable financial advisers already operating on Corillian’s ‘Voyager’ platform to provide clients with personal finance Web sites, portfolio updates, relevant reports, and real-time news and quotes. The new Microsoft service is scheduled to launch early next year 2002. Microsoft unveiled ‘MSN Money Professional’ last month at ‘COMDEX Fall 2001’, at which time Advent Software also announced plans to make the service available to its more than 6,500 clients, which range from small and regional investment firms to large Wall Street investment banks.



Trintech, a global provider of secure payment
infrastructure solutions, announced that GZS, Germany’s leading provider
of processing services, has selected Trintech’s image integration toolkit,
PayWare Resolve IIT. GZS is using the technology to automate the management
of documentation associated with all its disputed payment transactions.

The agreement follows GZS’s announcement in May this year that it had
chosen PayWare Resolve AS as the technology backbone of its chargeback
management system. Today’s announcement illustrates both companies’
commitment to work together to efficiently and cost-effectively manage
disputed transactions in line with regulations set down by the card

PayWare Resolve IIT is a module that allows PayWare Resolve AS to
integrate seamlessly with GZS’s document management system, allowing GZS to
store, match, retrieve and process documentation from outstanding disputed
transactions online through its chargeback management system, eliminating the
need to switch between multiple applications. PayWare Resolve IIT uses a set
of APIs to integrate between Trintech’s chargeback management system and a
company’s existing document management system. This ensures that GZS can
efficiently manage chargeback documentation coming from multiple channels
whether by fax, email, post or through the card associations’ image gateways.

“We are very pleased to add the PayWare Resolve IIT module to our existing
chargeback system from Trintech,” said Stefanie Fischer, Team Manager
Chargeback & Compliance for GZS. “It is our goal to dramatically improve the
efficiency of processing disputed payment transactions and Trintech’s PayWare
Resolve product has helped us automate most of the steps in the chain,
improving processing efficiencies since the system went live. We look forward
to working with Trintech on future initiatives that will further improve our

“GZS has been a leader in the German market for many years and today’s
announcement demonstrates its commitment to maintain its leadership position,”
said Trevor Healy, EVP of the ePayments Division at Trintech. “We are
delighted that GZS chose to work again with Trintech to integrate PayWare
Resolve IIT into its Resolve AS solution. The synergies will allow GZS to
more quickly, easily and efficiently handle a range of disputed transactions.”

About PayWare Resolve IIT

PayWare Resolve IIT is a set of API’s that offers integration between
Trintech’s chargeback management systems (PayWare Resolve IS or AS) and most
available document management systems, enabling a seamless flow of all
information from initiation to resolution of a disputed transaction. PayWare
Resolve IIT allows organizations to manage all dispute-related documentation
through PayWare Resolve AS or Resolve IS, increasing processing efficiencies
as all the documentation is automatically linked to the dispute case and
viewable from within a single application.

About GZS

Gesellschaft fur Zahlungssysteme (hereinafter called GZS) is situated in
Bad Vilbel, Germany, not far from Frankfurt am Main, where more than
1,000 staff take care of almost 7 million cardholders, processing around
300 million transactions a year. Its business activities involve the
professional processing of cashless and card-based payments, as well as the
development on new, electronic payment systems. GZS’ clients are banks,
savings banks, acquirers, merchants and retail companies. GZS, Germany’s
leading provider of processing services, offers its affiliated banks issuing
processing for the EUROCARD and VISA brands. In addition to this, GZS also
processes cross-border eurocheque transactions and offers a wide range of
point-of-sale services: these include the processing of EUROCARD and VISA
transactions generated by companies accepting these cards, the settlement of
all popular electronic payment systems and the sale of innovative card
terminals. With credit card transactions effected in the Internet being
encrypted using the SET standard, GZS is also an active proponent of secure
electronic commerce.

About Trintech

Trintech is a leading provider of secure electronic payment infrastructure
solutions for real world, Internet and wireless transactions. The company,
founded in 1987, offers a complete range of payment software products for
credit, debit, commercial and procurement card applications. Trintech’s
secure product range is deployed in over 35 countries worldwide and covers the
payment requirements of consumers, card issuing banks, merchant acquiring
institutions, merchants, eMerchants, telcos, wireless operators, ISPs/CSPs,
Portals and large corporations. The Group’s range of scalable, open systems
architecture solutions for UNIX(R) and Windows NT(TM) platforms covers
consumer, merchant and financial institution requirements for all card-based
payments, including eCommerce and the emerging world of mCommerce. Trintech
can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94403
(Tel: 650-227-7000) and in Ireland at Trintech Building, South County Business
Park, Leopardstown, Dublin 18 (Tel: 353-1-207-4000). Trintech can be reached
on the Web at
http://www.trintech.com. Investor
information can be found at



ACI Worldwide, a leading international provider of enterprise e-payment
solutions, and Wincor Nixdorf, one of the leading providers of IT solutions
products for retailers and banks, announce that they are working together to
advance and support Web-enabled device technology. The two industry leaders
have joined forces to promote ACI’s XML-based message format for Web-enabled
devices called the Device Manager Gateway interface.
Developed by ACI through its relationships with customers and vendors, the DMG
interface defines the messages used to process transactions between ATMs, POS
devices and host systems.

In addition to common functionalities such as cash withdrawal, the DMG
interface supports cash acceptance, cash recycling, check processing and other
innovative services. Since the interface supports Web-enabled devices, ATM
deployers can use standard tools to personalize the touch and feel of ATM
screens. The DMG interface also supports enhanced security features such as
triple DES and is EMV compliant. Additionally, the interface can be positioned
to support dial-up devices.

“We’ve developed DMG in response to requests from customers in Europe and
America,” said Mark Vipond, president of ACI Worldwide. “DMG contributes to
customers’ multi-vendor strategy since it is based on a standard,
multi-platform XML architecture. Standardization helps reduce development
efforts for new functions and lower costs for tests and rollout.”
By now providing solutions that support the DMG interface, ACI and Wincor
Nixdorf are following a strategy of promoting standardization for self-service

“We consider the DMG interface a natural successor to current device
and a catalyst to speed the conversion from proprietary message formats to an
open standard. This is an important development from a point of view of our
customers’ multivendor strategies,” said Javier Lopez-Bartolome, senior vice
president of Wincor Nixdorf, head of banking division.
It is ACI’s intention to propose the DMG interface to a standardization body
such as ANSI, CEN or ISO.

About Wincor Nixdorf

Wincor Nixdorf is one of the leading providers of IT solutions and products
retailers and banks, and offers the associated services and consulting. For
financial institutions, Wincor Nixdorf has a complete range of self-service
equipment for payment handling. They also have modular self-service
equipment –
such as statement printers, multimedia information and service terminals – for
different service providers. Their portfolio also includes software solutions
such as ProClassic, an approach to self-service in banking that is unique
throughout the world. With their Financial Enterprise Solutions, Wincor
has continued building and expanding the range of solutions and consulting
services. Here, they are focusing on customer relationship management,
eCommerce and infrastructures, document embedding solutions and financial
operating solutions.
The Services Division provides product-related services such as installation
and maintenance of hardware and software products, regular routine checks,
software upgrades and the management of market rollouts.

About ACI Worldwide

Every second of every day, consumers are initiating electronic payment
transactions–getting cash at ATMs, using debit and credit cards to make
purchases in stores and on the Internet, banking by phone and PC, paying bills
online. Twenty billion times a year, ACI software is used to process these
transactions, powering the world’s online payment systems. ACI was founded in
1975 and pioneered the development of applications and networking software for
online transaction processing. Today more than 530 customers in 79 countries
use ACI supplied software. Visit ACI Worldwide on the Internet at


P3 Completes Functionality

Thales e-Security, the market leading e-business security solutions provider, has completed its Personalization Preparation Process Family of systems. The family, P3 Desktop, P3 Advance and P3 Server, brings new levels of performance and flexibility to the world of application data generation for smart cards. The P3 Family of products provides a cost-effective solution whether personalizing 30 cards per day, 30,000 plus cards per day or adding new applications to an issued smart card base.

Launching the latest enhancements to the P3 Product Family, Cindy Provin, Thales e-Security’s President, said: “Our P3 products now provide card issuing banks and bureaus with a simple, future proof personalization path to smart cards by easily integrating with legacy systems. Offering them a complete solution for the generation of all the cryptographic data needed to be written to a smart card as well as the additional data required for Europay, MasterCard and Visa (EMV) compliance standards, P3 is specifically developed for financial smart card payments.” Cindy Provin concluded by adding: “With P3 no matter how or where you produce your smart cards, the flexibility and scalability of P3 now enables users to make sure customer data generation is kept secure in-house regardless of quantities.”

In future P3 users’, such as card issuers (financial institutions) and card personalization providers (independent bureaus), will be able to pay only for the performance they need.

With the virtually unlimited ability to expand the hardware and software capability as the need grows, Thales e-Security’s new P3 Family now offers complete flexibility of scaleable performance providing a clear choice for card issuers and an upgrade path for growth when required.

The P3 Desktop has been designed for low-volume card issuing banks, for those banks wishing to offer distributed or instant card issuance to their customer base or for running a pilot scheme. P3 Advance, designed for medium volume card issuing banks, small bureaus or banks acting as a bureau, offers an easy upgrade path to P3 Server which is aimed at high-volume card issuing banks or large bureau personalizing cards on behalf of multiple card issuing banks or any issuer offering post issuance application load services to its customer base, in conjunction with a compatible smart card management systems (SCMS). Ideal for in-line batch processing systems as well as post-issuance applications, where data is required to be generated and loaded onto cards dynamically after issuing to cardholders, P3 Server offers a choice of interfacing methodologies to complement today’s sophisticated SCMS.


independent, P3 Server allows data for new applications to be generated using the scripts supplied by the application developers. Thus, no additional software development is necessary to be able to issue cards containing the new applications.

The P3 Product Family as a whole supports a wide range of single and multi-application chip cards with the flexibility to offer a range of different products and solutions to suit a variety of customer’s needs. P3 is designed to meet the requirements of existing card issuers moving to smart cards, operators of card personalization systems and system integrators requiring smart card data generation capability within their products. Supporting existing and developing International standards, the P3 Product Family adheres to the EMV standards for data generation, including EMV style certificates and data authentication schemes. Visit Thales e-Security’s new web site at [http://www.thales-esecurity.com][1]

[1]: http://www.thales-esecurity.com/