Discover Deskshop 3.0

Discover Financial Services launched an upgraded version of its pseudo number virtual credit card for online shopping. The new streamlined version of ‘Discover Deskshop’ expedites the online purchasing process and includes optional ‘Single Use Card Numbers’. The ‘Deskshop’ product was released almost two years ago, and currently has nearly six million registered customers. To simplify the tracking of ‘Single Use Account Numbers’ used for past purchases, cardholders now can click on the “Past Purchases” link on ‘Discover Deskshop’, which will display up to 50 purchases made using a Single Use Card Number. In addition, purchases made using the ‘Single Use Card Numbers’ will appear on the cardholder’s paper and online statements together with their other Discover Card purchases. ‘Deskshop 3.0’ was developed with technology from Orbiscom. (CF Library 11/28/00)

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TSYS Processes Chrysler VISAs

TSYS has signed a multiyear contract with DaimlerChrysler Services North America (DaimlerChrysler Services), the financial services arm of DaimlerChrysler AG, to provide processing for the company’s new co-branded Rewards Visa consumer credit card portfolio in the United States.

Under the agreement, DaimlerChrysler Services will utilize turnkey services through the TSYS family of companies for every component of its new consumer credit card business. TSYS furnishes the consumer card processing, collections and customer service. Columbus Bank and Trust, a subsidiary of Synovus Financial Corp., TSYS parent company, will provide funds settlement for cards.

DaimlerChrysler Services will offer brand-specific credit cards to Chrysler, Jeep and Dodge owners. Cardholders will earn one point for every dollar in purchases charged to the card and bonus points for purchases at partners including Chrysler, Jeep and Dodge dealerships. Points can be redeemed for certificates which are used in dealerships like cash for items such as dealership services, quality Mopar parts, a down payment on a new or used vehicle, or even an extended service contract.

DaimlerChrysler Services will offer cards on a pre-approved basis to approximately five million owners throughout the USA, as well as through credit card applications available at dealerships early this month. The accounts will be processed on TS2(R), TSYS’ state-of-the art processing system, allowing for increased functionality and client driven versatility.

About DaimlerChrysler Services North America

DaimlerChrysler Services North America provides brand specific financing for automotive dealer inventories and retail consumers and does business as Chrysler Financial, Mercedes-Benz Credit and Freightliner Financial. It serves as the headquarters for the operations in the United States, Canada and Mexico and has over 5,000 employees who manage a portfolio of $85 billion with nearly 4 million contracts. DaimlerChrysler Services North America is a division of DaimlerChrysler Services AG, located in Berlin, Germany.

About TSYS

TSYS ([http://www.tsys.com][1]) 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 chip 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. TSYS is an 80.8-percent-owned subsidiary of Synovus Financial Corp. ([http://www.synovus.com][2]), No. 8 on FORTUNE magazine’s list of “The 100 Best Companies To Work For” in 2001. For more information, contact news@tsys.com .

[1]: http://www.tsys.com/
[2]: http://www.synovus.com/

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MasterCard Constant Contact

Roving Software, the leading provider of self-service email marketing tools and services for small and medium sized businesses, announced an agreement with MasterCard International. The agreement adds Roving’s Constant Contact email marketing manager to MasterCard’s roster of discounted products and services for MasterCard BusinessCard cardholders.

Under the agreement, Roving will market Constant Contact, the leading web- based self-service email marketing solution, to MasterCard’s small business customers. With Constant Contact, MasterCard’s small business customers can now easily and affordably build, manage and rent opt-in email lists, create and deliver professional email communications, and track campaign results automatically. Constant Contact is now available at MasterCard’s Small Business website at [http://www.mastercardintl .com/business/smallbiz][1].

“MasterCard is clearly a leader in helping businesses grow, providing all the tools and services that small business owners need, in one easy-to- navigate location,” said Gail Goodman, CEO, Roving Software. “We are thrilled to be working with MasterCard and promoting Constant Contact to their extensive customer base.”

“Permission-based email marketing is recognized as a critical application,” said Steve Harrison, MasterCard International. “By bringing Constant Contact to our small- and mid-sized business customers, we are providing an affordable and easy-to-use service that will help them communicate and build stronger relationships with their customers, ultimately making their businesses more successful.”

About Roving Software

Roving Software is the leading provider of self-service email marketing Roving Software is the leading provider of self-service email marketing products and services to small and medium businesses (SMBs). Roving’s Constant Contact(R) helps small businesses reach their visitors and customers easily and affordably with targeted, relevant email communications based on their interests. Constant Contact is designed and priced for SMBs and is available through a wide variety of channel partners, such as office supply retailers, small business portals, web affiliates and website development software and services companies including AllBusiness.com, BigStep.com, Cisco Systems, Inc., DigitalWork, Elibrium, Inc.com, Oracle Small Business, Staples.com, Switchboard, Inc., Trellix and VeriSign. Roving Software is funded by Morgan Stanley Venture Partners, the venture capital arm of Morgan Stanley Dean Witter & Co., Commonwealth Capital Ventures, Longworth Venture Partners and VeriSign, Inc. For more information, call 781-444-6160 or visit [http://www.roving.com][2].

About MasterCard International

MasterCard International has the most comprehensive portfolio of payment brands in the world. More than 1.7 billion MasterCard(R), Cirrus(R) and Maestro(R) logos are present on credit, charge and debit cards in circulation today. An association comprised of more than 20,000 member financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is the leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. MasterCard’s award-winning Priceless(R) advertising campaign is now seen in 81countries and in more than 36 languages, giving the MasterCard brand reach and scope unrivaled by any competitor in the industry. With more than 21 million acceptance locations, no card is accepted in more places and by more merchants than the MasterCard Card. In 2000, gross dollar volume exceeded US$857 billion. MasterCard can be reached through its World Wide Web site at [http://www.mastercard.com][3].

Roving, Roving Software, Roving Express and Constant Contact are trademarks or registered trademarks of Roving Software Inc. All other company and product names may be trademarks or registered trademarks of their respective companies.

[1]: http://www.mastercardintl.com/business/smallbiz
[2]: http://www.roving.com/
[3]: http://www.mastercard.com/

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VISA Simon Deal

The nation’s largest owner and manager of shopping malls has renewed it alliance with VISA for two more years. As part of this renewal, VISA will remain Simon Brand Ventures preferred method of payment at more than 170 of its retail properties and will expand its relationship with Simon to include new card product development and testing. This year the “Visa Magic Moments” sweepstakes will be promoted in Simon malls. Also shoppers who use their VISA card to purchase Simon gift certificates valued at $150 or more will receive a complementary American flag and American flag book. Simon and VISA are piloting a gift card at select Simon malls this year with the testing period to end in January.

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UltraCard Infineon Chips

UltraCard, Inc., a subsidiary of Upgrade International, is pleased to announce that it has entered into a Technology Partnering Relationship with Infineon Technologies North America.

Infineon Technologies, the world’s leading supplier of integrated circuits for chip cards, will supply IC Chips and System Software for the UltraCard. Under the agreement, Infineon will also provide technical support for the China project, USA projects and future global projects.

The combination of an UltraCard and an IC smartcard chip as an on-board processor will essentially allow the UltraCard to function as a personal computer. When commercialized, the UltraCard will store up to 20mb (20 million bytes), which is 600 times more storage capacity than a 32kb (32 thousand bytes) IC chip. This superior storage capability will enable the UltraCard to handle sophisticated biometrics and various software applications all on one card. Among other functions, the processor on the IC chip can be used to encrypt outgoing data and decrypt incoming data, thereby preserving the security of the card.

“The alliance between UltraCard and Infineon offers both companies great advantages and opportunities in new and developing markets such as China,” says Dan Kehoe, UltraCard president and CEO. “Infineon will not only provide the IC Chip, but will also provide System Software and technical support. This will be particularly useful as we move ahead with our China pilot program.” Infineon has indicated that they believe this partnership can potentially lead to business opportunities on a global basis. A further definitive agreement between the parties will specify how their respective technology solutions will be combined to meet the needs of specific clients, in China and elsewhere around the globe.

Mr. Jorg Huser who recently joined UltraCard, Inc. as the Principal Consultant for System Integration has stated, “UltraCard’s technology is a paradigm shift for the Smart Card and Database industry in terms of decentralized processing, national security, personal privacy and convenience.” Mr. Huser is a well-known expert in security solutions for Smart Cards, USB Tokens, PKI and other Fraud Prevention Mechanisms for web, network and physical spaces. He formerly served as Director of Product Management for Giesecke & Devrient GmbH, in Munich, Germany. Giesecke & Devrient (G&D) is a leading supplier of cards and components including system solutions for electronic payment, data management, telecommunication and multifunctional smart cards. G&D employs 6,000 people worldwide and generates annual revenue of DM 2 billion.

About Infineon

Infineon Technologies AG, Munich, Germany, offers semiconductor and system solutions for applications in the wired and wireless communications market, for security systems and smartcards, for the automotive and industrial sectors, as well as memory products. With a global presence, Infineon operates in the US from San Jose, CA, in the Asia-Pacific region from Singapore and in Japan from Tokyo. In the fiscal year 2000 (ending September), the company achieved sales of Euro 7.28 billion with about 29,000 employees worldwide. Infineon is listed on the DAX index of the Frankfurt Stock Exchange and on the New York Stock Exchange (ticker symbol: IFX). Further information is available at [www.infineon.com][1]

About Upgrade

Upgrade International Corp. through its ownership interest in UltraCard Inc., Efornet Corp., and cQue Corporation is engaged in the development and commercialization of a patented ultra high-capacity portable data storage technology. UltraCard’s patented method for using existing hard disk storage technology provides both highly durable media in a credit card format and an inexpensive read/write device that together will become the next generation in personal portable data storage for a broad range of existing and new markets. Management believes that the UltraCard technology will potentially provide numerous industrial users with a combination of high levels of security and a vastly greater amount of personal transportable data storage at the lowest cost in the industry. In addition the acquisition and development of existing SmartCard solution providers represents a strategic market strategy designed to accelerate the integration of the vastly superior technology inherent in the UltraCard into existing and newly developing markets.

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

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CIBC AGGREGATION

CIBC and CashEdge, Inc., an international
provider of account aggregation and funds transfer services, today announced
the signing of an agreement to provide a comprehensive online financial
account aggregation service to the bank’s customers. The new service will
allow CIBC customers to consolidate, organize and actively manage their
accounts at CIBC or any other online enabled financial institution.

The aggregation service will be made available to CIBC online banking
customers next year following a pilot starting in January. The service will
provide the bank’s customers with one-stop access to their online banking,
investment, credit card and loan accounts from major North American financial
institutions. Customer information will be protected by CIBC’s privacy policy
and security measures that meet all of the bank’s stringent standards.

“Offering account aggregation services is a significant step towards
providing our customers with smarter, simpler ways to manage their finances,”
said Corinne Charette, senior vice-president of CIBC’s Internet Channel,
Direct to Consumer group. “We are responding to our customers’ desire for
greater control over their financial lives by making it easier for them to
monitor their total portfolio, analyze it and execute transactions within an
environment that they trust.”

CIBC has acquired an equity stake in CashEdge through CIBC New Ventures,
a part of CIBC’s e-commerce division that focuses on investment in and
creation of new e-business and e-commerce platforms. The investment will
support CashEdge’s goal of further developing its personal finance management
platform, and affirms the company’s position as the aggregation service
provider of choice among Canada’s leading banks.

“CIBC is at the forefront of providing valuable, consumer-driven e-
commerce solutions to its banking customers,” said Sanjeev Dheer, CEO of
CashEdge, “and their selection of CashEdge’s technology as the core of their
new integrated personal financial management service is an important milestone
for us. Their ultimate vision matches ours, which is to develop a
comprehensive aggregation service with the innovative transactional capability
customers need to most effectively manage their finances.”

About CIBC

CIBC is a leading North American financial institution with more than
eight million personal banking and business customers. CIBC offers a full
range of products and services through its comprehensive electronic banking
network, branches and offices across Canada, the United States and around the
world. You can find other news releases and information about CIBC in our
Media Centre on the Internet at
http://www.cibc.com.

About CashEdge

CashEdge delivers personal finance management solutions to financial
institutions and portals worldwide. The company’s technology combines the
power of information aggregation with transaction capability, allowing
consumers to transfer funds between accounts at over 23,000 financial
institutions throughout the US. CashEdge was founded in November 1999 and has
headquarters in New York and Milpitas, CA. CashEdge clients include Laurentian
Bank of Canada, Royal Bank of Canada, TD Canada Trust, The Vanguard Group and
Yahoo!Finance. For more information, please visit
http://www.cashedge.com.

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NextCard Lawsuit

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Northern District of California on behalf of all purchasers of the common stock of NextCard, Inc. (“NextCard” or the “Company”). (Nasdaq: NXCD) from March 30, 2000 through October 30, 2001, inclusive (the “Class Period”).

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Stuart L. Berman, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbclasslaw.com.

The complaint charges NextCard and certain of its officers and directors with issuing false and misleading statements concerning its business and financial condition. Specifically, the complaint alleges that defendants disseminated false and misleading statements concerning the Company’s operations and prospects for 2000 and 2001. In fact, defendants knew NextCard’s reserves were materially underfunded and that as a result, its 2000 and 2001 projections and/or results were false. During the Class Period, taking advantage of the inflation in NextCard stock, defendants Lent, Cai, Qureshey and Hashman sold almost $9 million worth of their own NextCard stock at artificially inflated prices of as much as $10.89 per share.

Then, on Oct. 31, 2001, it was revealed that, among other things, defendants had concealed that during the Class Period: (a) due to the deteriorating quality of NextCard’s portfolio, the Company would need to dramatically increase its reserves for loan losses in fiscal 2000 and Q1, Q2 and Q3 2001 and as a result its reported value of its loans for fiscal 2000 and Q1 and Q2 2001 was overstated; (b) the Company had improperly recorded “credit losses” as “fraud losses” and as a result the Company’s “securitization activities” during the Class Period did not qualify for “low level recourse treatment”. Defendants knew that as a result, such would dramatically increase the Company bank division’s risk weighted assets, and would decrease the Company’s “risk based capital ratio” below federal banking guidelines — rendering the Company “significantly under capitalized”; (c) because the Company’s risk-based capital ratio had plummeted below acceptable levels, it had been technically subject to a Prompt Correction Action Order and thereby restricted from accepting or reviewing any broken deposits; (d) as a result of the above, the Company’s 2000 and 2001 results and projections were materially false and misleading. These disclosures shocked the market, causing NextCard’s stock to decline to $0.84 per share before closing at $0.87 per share on Oct. 31, 2001 on volume of more than 43 million shares, inflicting millions of dollars of damage on plaintiff and the Class.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, LLP, who has significant experience and expertise prosecuting class actions on behalf of investors and shareholders. For more information on Schiffrin & Barroway, or to sign up to participate in this action online, please visit [http://www.sbclasslaw.com][1].

If you are a member of the class described above, you may, not later than December 31, 2001 move the Court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements.

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

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FUBON ICE

Hypercom Corporation announced the successful
installation of
Hypercom Network Systems’ Integrated Enterprise Network (IEN) by the Fubon
Bank, one of Asia’s leading financial conglomerates. The Fubon Bank will use
Hypercom’s IENs to connect 45 branches and business unit of Fubon Bank
throughout Taiwan, allowing the bank to transfer all of its diverse protocols
over a single high-speed Wide-Area-Network (WAN) connection.

The integration of Fubon Bank’s two previous separate networks into one
high-speed network provides significant cost savings over the previous method
of running parallel networks. Access and communication between branches
will be
improved and more reliable, providing for lower manpower costs. Additionally,
the integrated network management system enables network managers to
administer
the network without a technical background, giving the Fubon Bank the ability
to utilize resources more efficiently. Tainet, a global financial consulting
concern, was integral in facilitating this agreement.

Citing the product’s flexibility and reliability, The Fubon Bank chose
Hypercom® to integrate Fubon Bank’s data and voice systems. “We found
Hypercom’s IEN products and solutions the best choice for Fubon Bank,” said
Chuang-si Wang, CEO of Fubon Bank. “Being completely configurable, easy to
maintain, with features that decrease operational risk and expenditures while
increasing our business efficiency, Hypercom was the logical choice.”
“Hypercom is proud to be chosen as the provider of integrated networking
systems for Fubon Bank,” said T.K Cheung, President, Hypercom Network Systems.
“Our work with this leading financial conglomerate further underscores our
commitment to providing world class custom network solutions.”

About Fubon Group

The Fubon Group is one of Asia’s largest fully integrated financial
conglomerates with more than 3.5 million customers in Taiwan, representing
approximately 15% of the country’s population. The Group had a combined
capital
base of approximately NT$101 billion (US$3.05 billion) as of December 2000.
Its
financial services companies are among the leading companies in each of their
respective businesses in Taiwan. Fubon Insurance (TWSE: 2817 TT) is the
leading
property and casualty insurer in Taiwan, with a 20% market share. In 1999
Fubon
Insurance was selected as Asia’s “General Insurance company of the Year”.
Fubon
Securities (TWSE: 6007 TT), a fully integrated securities firm, is ranked No.3
in underwriting volume. Fubon Commercial Bank (TWSE: 2842 TT) provides full
commercial banking services with a strong focus on retail banking. Fubon Life
Assurance is the seventh largest life insurer in Taiwan with 112 branch
offices
in Taiwan and nearly 4,000 agents. Fubon Asset Management is the No.2 asset
manager in Taiwan. In May,2000 Citigroup paid US$810 million to acquire a 15%
stake in five Fubon companies.

About Hypercom
(http://www.hypercom.com)

Hypercom Corporation’s Network Systems Division designs and manufacturers
customized voice, data and POS technology solutions for enterprise, carriers
and service providers. Hypercom Network Systems’ solutions include support for
data and voice over single WAN or LAN connection with integrated capabilities
such as VoFR, VoIP, analog and digital voice, router/bridge, VPN, POS
networking support and legacy protocol support.

Hypercom Corporation (NYSE: HYC) is the leading global provider of electronic
payment solutions that add value at the point-of-sale for consumers, merchants
and acquirers, and yield increased profitability for its customers. Hypercom’s
products include secure web-enabled information and transaction platforms that
work seamlessly with its networking equipment and software applications for
e-commerce, m-commerce, smart cards and traditional payment applications. The
company’s widely-accepted ePOS-infocommerce’ (epic) framework of
consumer-activated, EMV-certified, touch-screen ICE’ (Interactive Consumer
Environment) platforms enable acquirers and merchants to decrease costs,
increase revenues and improve customer retention.

Headquartered in Phoenix, Arizona, Hypercom® is independently acknowledged as
the leading provider of point-of-sale information and transaction platforms
worldwide. Demand for Hypercom’s platforms surpassed one million units last
year alone. Hypercom today maintains an installed base of more than 4 million
platforms in over 100 countries, which conduct over 10 billion transactions
annually. Hypercom’s Internet address is
http://www.hypercom.com.

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Online Access Surge

Mail safety concerns raised by recent anthrax scares are encouraging consumers and billers to pursue electronic billing and payment channels more aggressively. By the end of this year, Gartner forecasts that 32 million Americans will view credit card and other statements online, a 60% increase over the 20 million who did so at the end of 2000. Gartner expects the number of consumers viewing bills electronically to reach 64 million by year-end 2003. Although the trend is partly attributable to marketing campaigns and other factors, Gartner clients have reported a 20 percent increase in electronic bill presentment enrollment since the anthrax scare was first reported.

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FEDS SOLD

First Ecom.com, Inc., a company with interests in gas and oil exploitation and
electronic payment solutions announced the sale of its wholly owned
subsidiary and payment processing division for the Americas and Caribbean
region, First Ecommerce Data Services Limited to Transworld Payment
Solutions N.V. of Curacao.

The transaction included repayment of inter-corporate loans and resulted in
immediate cash proceeds to First Ecom of $3 million plus additional cash
proceeds over the next three years of a minimum of $2 million and a maximum of
$3 million.

Included in the transaction is a license for First Ecom’s e-acquirer payment
gateway system that also incorporates its Merchant Accounting and Reporting
System. First Ecom and its Asian payment processing operations, which will
carry on business as First Ecom Systems Limited, have provided for FEDS to
continue processing their existing customers’ transactions and may arrange
FEDS
processing for future customers as well.

“The sale of FEDS to Transworld Payment Solutions is very much a win-win
situation,” said Gregory Pek, president and CEO of First Ecom. “It
significantly adds to First Ecom’s cash reserves and reduces operating costs
while continuing to provide First Ecom and its customers access to the FEDS
systems. Furthermore it strengthens the position of FEDS as well, providing it
with a partner that is committed to payment processing. While the primary
business of First Ecom is the oil and gas industry, we continue to develop our
payment processing assets, and continue to look for synergistic opportunities
with other parties.”

“With this sale, FEDS has taken a significant step towards becoming a major
player in the global payment processing industry,” said David Lema, Chief
Executive Officer of FEDS. “As Transworld Payment Solutions is also committed
to becoming a major force in payment processing, the purchase of FEDS serves
the ambitions of both companies. The timing and structure of the sale is
positive for all parties and the future prospects of FEDS and Transworld
Payment Solutions look exciting.”

About First Ecom.com

First Ecom.com Inc. has interests in both oil and gas exploitation as well as
being a global provider of electronic payment solutions through its wholly
owed
subsidiary First Ecom Systems Limited.
For more information, visit www.firstecom.com or
contact First Ecom.com at
+(852) 2801-5181 or by e-mail at info@firstecom.com.

About First Ecommerce Data Services Limited (FEDS)

FEDS is an independent third-party processor. It works with existing
processors
and financial institutions to provide merchants with a multi-currency,
advanced
electronic payment processing solution. The FEDS Processing Solution supports
both online and batch, processing for credit and debit cards as well as real
time authorization, electronic merchant settlement and comprehensive risk
management and financial reporting.
For more information, visit
http://www.fedsinternational.com or contact
FEDS at
+(441) 296-FEDS (3337).

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