MBNA 3Q/01

MBNA reported third quarter net income of $478.3 million, an increase of 25.6% compared to 3Q/00. However managed charge-offs have increased 26% since last year, climbing from 3.88% to 4.90%. Reported delinquency for 3Q was 4.23% compared to 4.65% last year, however the 3Q/01 delinquency figure was skewed by the special treatment of accounts affected by the Sept 11th events. Discounting the special account treatment, MBNA says the actual delinquency would probably fall between 4.85% and 4.95%. Total managed loans at Sept. 30 stood at $92.6 billion. Charge volume was up 14%, from $35.9 billion for 3Q/01 compared to $31.4 billion for the same quarter one year ago. During the second quarter MBNA signed up 2.4 million new accounts or 3.2 million new cardholders. The issuer signed up 250,000 new cardholders via the Internet during the third quarter. During the third quarter MBNA acquired 102 new affinity agreements with a variety of organizations in the USA, UK, and Canada. MBNA’s online account access now serves more than 4.8 million customers. For complete information on MBNA’s third quarter results visit CardData ([www.carddata.com][1]).

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



MasterCard reported performance results for the first six months of 2001
demonstrating continued strong performance in the company’s key markets and
across a variety of measures of success in the payments industry*.
During the first half of 2001, financial institutions increased their issuance
of MasterCard cards around the world at the highest rate in 10 years. At June
30, 2001, member institutions reported that they had issued 475.3 million
cards, an 18.6% increase over June 30, 2000, when members reported that 400.9
million MasterCard cards were issued.

In the critical U.S. market, the number of cards issued at the end of June
jumped 20% — almost twice the growth rate reported for the same period a year
ago — to 256.2 million. At the end of June 2000, the number of cards issued in
the U.S. stood at 213.5 million, which represented a 10.7% year-to-year gain.
Cardholders around the world used MasterCard-branded cards to generate $458.8
billion in gross dollar volume (GDV) during the first six months of 2001, a
17.6% increase from the $405.3 billion of GDV generated in the first half of
2000. During the second quarter of 2001, GDV reached $238.5 billion, up 16.7%,
marking the 9th consecutive quarter in which MasterCard’s GDV grew at
double-digit rates.

The value of purchases on MasterCard cards, a key measure of success, continued
to show significant gains. Globally, purchase volume (excluding cash
transactions) rose 14.7% in the first half 2001, to $332.4 billion, and 14.4%
in the second quarter of 2001, to $173.1 billion, in each case as compared to
the same period in 2000.

In the first half of 2001, MasterCard-branded cards, excluding on-line debit
programs, were used for almost 4.82 billion purchase transactions, a 17.5%
increase over the same period in 2000. Second quarter transactions were up
16.9% to 2.54 billion compared to the second quarter in 2000.
By the end of June 2001, member financial institutions reported that
cardholders could use their MasterCard cards at a record 22.4 million
acceptance locations around the world, 16.8% more than at the end of the first
half of 2000. MasterCard’s efforts to ensure that no card is accepted in more
places or by more merchants have resulted in the number of acceptance locations
increasing over 50% in the past five years.

Strategy Shows Resilience in Changing Economy

“Several years ago, we embarked on a new corporate strategy aimed at focusing
on our customers, strengthening our core products and services, and
differentiating ourselves from the competition, by building customized,
value-added services,” said Robert W. Selander, MasterCard’s president and
chief executive officer. “This strategy has proved its resilience in a changing
global economy, and our results demonstrated continued strong growth during the
first half of the year, as economies of the world slowed.”
“No one yet knows what impact the tragic attack on the World Trade Center and
the Pentagon will have on short-term economic activity in the U.S. or across
the globe. But we intend to work hard to ensure that when our members and their
customers look for an alternative to cash and checks, MasterCard is their brand
of choice,” he added.

Mr. Selander also said that MasterCard’s recently-announced conversion to a
private share corporation, through which the association’s principal members
will become its shareholders, should have important long-term advantages by
more closely aligning the interests of MasterCard with the interests of its
members. “By supporting the MasterCard brand, our shareholders will be
supporting their investment in our company,” he said.

Along with its conversion to a share company, MasterCard will integrate with
Europay, its long-term strategic partner in Europe, into a global entity under
a single management team and governance structure. Mr. Selander said,
“Integration with Europay will make us a stronger organization, able to better
serve our member financial institutions, whether they operate in one country,
one region, or in markets across the globe. It will bring together MasterCard’s
award-winning marketing expertise and strength in e-commerce and processing
technology with Europay’s particular strengths in debit, chip and m-commerce.”

United States Results

In addition to the exceptional growth in card issuance, U.S. GDV showed
continued strong growth, increasing 17.6% year-to-year, to $234 billion, in the
first half of 2001, and 18.3% to $124.4 billion in the second quarter of the
year compared with the like periods in 2000. U.S. purchase volume jumped almost
18%, to $179.2 billion, in the first half of 2001, and 18.9%, to $95.6 billion
in the second quarter. At the end of 2001’s second quarter, U.S. outstandings
on MasterCard cards, rose to $223.9 billion, an 18.5% increase over the like
2000 period.

Ruth Ann Marshall, president, MasterCard North America, said, “We’re proud of
the enormous growth in MasterCard’s U.S. region. With each passing quarter
we’re seeing our customers rewarding us for being the best business partner in
the payments industry. They recognize that we’re constantly looking for ways to
make their payments businesses more profitable by supporting both traditional
payments programs and looking for innovative new ways and places to pay, in
both the virtual and real worlds.”

Strong Global Results, Card Growth Highest in a Decade

Strong GDV growth was reported across the globe: Asia/Pacific was up 21.3% for
the first half of the year, and 16.8% during the second quarter; North America
rose 17.5% in the first six months of the year, and 18.1% during the second
quarter; Latin America was up 20.4% in the first half and 21.4% for the second
quarter; in the MiddleEast/Africa region, GDV rose 18.0% in the first half of
2001, and 16.5% in the second quarter. In Europe, through its alliance with
Europay International, GDV on MasterCard-branded cards rose 14.0% in the first
half of 2001 and 12.6% in the second quarter. All of these increases are
compared to GDV in the applicable period in 2000.

Throughout the first six months, MasterCard cards were issued in significant
numbers across the globe.

By the end of the second quarter in 2001, the number of cards issued in North
America increased 19.7% to 275 million at the end of the second quarter of
2000. In the Asia/Pacific region the number of MasterCard cards stood at 92.2
million at the end of the second quarter, a 20% increase over the same period
in 2000. In Latin America, cards issued rose 17.9% to 32.5 million, and in
Europe the number of cards issued stood at 73 million, a 13.5% gain, in each
case during the second quarter of 2001 as compared to the same period in 2000.

About MasterCard

MasterCard International has a comprehensive portfolio of well-known, widely
accepted payment brands including MasterCard(R), Cirrus(R) and Maestro(R). More
than 1.7 billion MasterCard, Cirrus and Maestro 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 a 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 80 countries and in more than
36 languages, giving the MasterCard brand a truly global reach and scope. With
more than 22 million acceptance locations, no card is accepted in more places
and by more merchants than the MasterCard Card. At June 30 2001, gross dollar
volume exceeded US$458 billion.


ADS Signs ShopNBC

Alliance Data Systems Corp. announced that it has signed a multi-year agreement to provide a full-service private label credit card program to ShopNBC, along with special card benefits to customers. ValueVision Media owns and operates the national shopping network.

The agreement between Alliance Data and ShopNBC is geared toward increasing ShopNBC sales via its cable/satellite and online channels while also providing strategies for building and improving the relationship with its customer base. Alliance Data will provide private label credit card services including account acquisition and activation; card issuance; credit approval; payment processing; statement generation; and customer service. Additionally, Alliance Data will use its significant retail experience to assist ShopNBC in developing and executing a customized marketing program, including incentives and other special promotions, designed to increase customer loyalty and incremental sales.

“We are both proud and excited that ShopNBC selected Alliance Data to provide the critical services needed to strengthen and expand the base of loyal customers for their network,” said Ivan Szeftel, president, retail credit services, Alliance Data Systems. “The home shopping industry is competitive and continues to grow at a strong pace. We are confident that Alliance Data can offer the business solutions needed to increase ShopNBC’s competitive edge and strengthen its customer relationships.”

Dick Barnes, COO and CFO of ShopNBC, said that by teaming with Alliance Data, the ShopNBC brand can be enhanced.

“We recognized that in order for our strategy of utilizing converged media to continue our growth in the broadcast and online arenas, we had to further our commitment in delivering the services that are most meaningful to our consumers,” said Barnes. “By utilizing Alliance Data’s marketing capabilities and impressive customer care services in support of a private label credit card, we will strengthen the relationship with our customers while also creating greater brand visibility for ShopNBC.”


ShopNBC is a leading national shopping network, formerly known as ValueVision TV, that is owned and operated by ValueVision International, Inc. (Nasdaq: VVTV). ValueVision operates in the home shopping industry, which is approximately $5 billion in size and growing, and is capitalizing on the convergence of television, the Internet and commerce. The Company’s mission is to be the most innovative multimedia network offering consumers an entertaining, informative, and interactive shopping experience. GE Equity and NBC own approximately 40 % of ValueVision. As the nation’s third largest and fastest growing shopping network, ShopNBC is broadcast 24 hours a day, 365 days a year and is simulcast live on the Web at ShopNBC.com and on Yahoo! ShoppingVision. As of April 30, 2001, ShopNBC reaches about 48 million cable and satellite households (DIRECTV; DISH).

Alliance Data Systems

Based in Dallas, Alliance Data Systems (NYSE: ADS) is a leading provider of transaction services, credit services and marketing services, assisting retail, petroleum, utility and financial services companies in managing the critical interactions between them and their customers. Additionally, Alliance Data operates and markets the largest coalition loyalty program in Canada. All together, each year, the company manages over 2.5 billion transactions and 72 million consumer accounts for some of North America’s most recognizable companies. Alliance Data Systems employs approximately 6,000 associates at more than 20 locations in the United States, Canada and New Zealand. For more information about the company, visit its web site, .



CIBC Aerogold VISA, Canada’s most successful
gold card, has made a substantial donation of Aeroplan miles to Médecins Sans
Frontières/Doctors Without Borders Canada. The donation of 5 million
Aeroplan miles to the international aid organization will assist MSF to
transport volunteer medical personnel to stricken areas throughout the world
and should cover a large portion of MSF’s air travel needs for the year 2002.

Launched in October 1991, CIBC Aerogold offers cardholders the
opportunity to fly for free by accumulating one Aeroplan mile for every dollar
spent on the card. “Our cardholders know the value of collecting Aeroplan
miles for travel,” said Kathy Buckworth, Director, Cobrands, CIBC VISA. “At a
time when Médecins Sans Frontière’s medical care for people affected by war,
civil strife, epidemics and natural disasters is sorely needed, CIBC is
pleased to donate five million Aeroplan miles to help out.”

The presentation of a giant Air Canada boarding card which represented
the five million Aeroplan miles was made by Ernie Johannson, Vice President
CIBC VISA and Suzanne Wilcox, Manager of Strategic Partnerships, Aeroplan to
David Morley, Executive Director of Médecins Sans Frontières at a reception
which included a preview of MSF’s “Refugee Camp in the City” exhibit. The
exhibit is touring Canada in 2001 and will be in Nathan Phillips Square,
Toronto from October 11-15 before moving on to Vancouver.

“This generous donation will make a real difference to our work,” said
David Morley, Executive Director of MSF Canada. “It is expensive to send out
Canadian volunteers to projects around the world and we are grateful to CIBC
Aerogold for helping us defray these costs.”

CIBC and Air Canada’s Aeroplan division created CIBC Aerogold VISA in
1991. CIBC is Canada’s No. 1 credit card issuer and its partner, Aeroplan, is
one of Canada’s largest customer loyalty programs.


US Smart Cards

The total number of smart cards manufactured for use within the USA and Canada last year hit 28,430,000, a 37% increase over 1999. The fastest growing market segment between 1999 and 2000 was the financial market sector with a growth rate of 244%. According to a report from the Smart Card Alliance, the areas that experienced significant microprocessor card growth rates between 1999-2000 include: corporate campus use, up 125%, education campus use, up 116%, and wireless use, up 89%. The SCA full report titled, “United States and Canada Smart Card Shipment Survey,” will include data from 2001 and will be available in the first quarter of 2002.



High-end specialty toy retailer, FAO Schwarz is set to offer a customized home ATM this holiday season for $20,000. The Fall catalogue was published this week and is now en route to six million FAO Schwarz customers across the USA. NJ-based Access To Money will provide and install the ‘Triton 9600′ ATM for FAO Schwarz at purchasers’ homes, and will personalize the ATM with panels bearing personalized labels and insignia. Purchasers receive ten functional ATM cards, which may be used to dispense real or play money at the buyer’s option. If a customer chooses to operate the ATM as part of an actual ATM network, Access To Money will also provide processing and support services for any location in the continental United States or Hawaii.


Providian Cracks

Providian acknowledged late last night that 3Q earnings, to be released next Thursday, will be much lower than previously projected. The company now says it expects third quarter earnings to be in the range of $0.19 to $0.21 per diluted share rather than Sept. 4th guidance of $0.82 to $0.84 per diluted share. The managed net charge-off rate is expected to be approximately 10.33% for the quarter. Providian says the earnings decline is due to actions taken to strengthen the balance sheet in anticipation of continued weak credit conditions, lower than expected fee and finance charge revenue in September, and higher than expected credit losses in September. In pre-market trading Providian stock was offered at $15.00 per share compared to yesterday’s close of $20.35. (CF Library 9/4/01; 9/20/01 10/04/01)


MasterCard 2Q/01

MasterCard officially reported the number of U.S. cards issued at the end of June jumped 20% to 256.2 million. In addition to the exceptional growth in card issuance, U.S. gross dollar volume showed continued strong growth, increasing 17.6% year-to-year, to $234 billion, in the first half of 2001, and 18.3% to $124.4 billion in the second quarter of the year compared with the like periods in 2000. U.S. purchase volume jumped almost 18%, to $179.2 billion, in the first half of 2001, and 18.9%, to $95.6 billion in the second quarter. At the end of 2001’s second quarter, U.S. outstandings on MasterCard cards, rose to $223.9 billion, an 18.5% increase over the like 2000 period. For complete details on MasterCard’s U.S. 2Q/01 data visit CardData ([www.carddata.com][1]) and for details on MasterCard’s second quarter international figures visit The RAM Report ([www.ramreport.com][2]).

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


Genpass Joins Western Union

Western Union Financial Services, Inc., a subsidiary of First Data Corp., and Genpass Inc., owner and operator of the MoneyMaker and MONEYBELT EFT networks, announced they have reached an agreement that will enable ATMs owned and/or driven by Genpass to offer the Western Union Money Transfer service.

Genpass will join Western Union’s ATM Money Transfer Network, allowing consumers access to one of the newest ways to send and receive money, 24-hours a day, seven days a week. This agreement facilitates the continued expansion of Western Union’s ATM-based money transfer service around the country. Genpass plans to rollout money transfer capability on its own ATMs early next year.

“Interest in ATM money transfer as a value-added service is growing within the financial services industry, particularly in light of the tremendous growth we’re seeing in worldwide money transfer transactions,” said Mike Yerington, president for Western Union North America. “As the second largest ATM driver in the U.S., the addition of Genpass’ EFT Networks and ATMs to our integrated ATM and Agent money transfer network will increase consumer accessibility to Western Union’s fast, secure and reliable money transfer services.”

“Genpass is committed to offering new services that benefit our EFT network and ATM customers. Providing around the clock access to money transfers expands the functions consumers can transact at an ATM. Genpass management has a history of delivering value-added services to the consumer marketplace,” said Bipin C. Shah, president and CEO of Genpass. “It is also a terrific opportunity for our ATM partners to attract more transactions per ATM. And, given Western Union’s brand strength and market penetration, choosing them as a provider was simple.”

About Western Union ATM Money Transfer

The Western Union ATM Money Transfer service allows consumers to electronically send money at any participating ATM by simply swiping an ATM card and then selecting the money transfer option. The user is prompted to select a personal identification number (PIN) and the desired dollar amount of the transfer. The ATM provides the sender a receipt and confirmation number. To complete the money transfer, the sender relays the confirmation number and PIN to the intended recipient who can retrieve the funds from any participating ATM, or at any Western Union agent location. No bankcard is necessary to receive the funds at the ATM, and because the combination of the PIN and confirmation code is unique for every transaction, the process is safe and secure.

Unlike other person-to-person, ATM-based, money transfer systems that only allow for money transfers between ATMs, the Western Union ATM Money Transfer service (formerly known as Z-Cash) offers interoperability with Western Unions Agent network of nearly 40,000 agent locations across the U.S.

About Western Union Financial Services, Inc. and First Data

Western Union Financial Services, Inc., a subsidiary of First Data Corp. (NYSE: FDC), is a worldwide leader in consumer money transfer services. Consumers can quickly, safely and reliably transfer money at more than 117,000 Agent locations in more than 185 countries and territories. Famous for its pioneering telegraph service, the original Western Union dates back to 1851 and introduced electronic money transfer service in 1871. Western Union is celebrating its 150th anniversary in 2001. For more information, please visit the company’s Web site at [http://www.westernunion.com][1].

First Data Corp., with global headquarters in Denver, powers the global economy. Serving approximately 2.6 million merchant locations, more than 1,400 card issuers and millions of consumers, First Data makes it easier, faster and more secure for people and businesses to buy goods and services, using virtually any form of payment: credit, debit, smart card, stored-value card or check at the point-of-sale, over the Internet or by money transfer. For more information, please visit the company’s Web site at [http://www.firstdata.com][2].

About GTCR Golder Rauner, LLC, and Genpass Inc.

GTCR Golder Rauner, LLC, is a leading private equity investment firm that owns and operates Genpass Inc. Founded in 1980, GTCR pioneered the investment strategy of identifying and partnering with exceptional executives to acquire companies in fragmented and growing industries. GTCR currently manages more than $4 billion in equity capital invested in a broad range of companies and industries, including transaction processing, information technology services, financial services and marketing services.

Genpass Inc., through its subsidiary companies, is the owner and operator of the MoneyMaker(SM) and MONEY BELT(R) EFT networks. The corporate headquarters of Genpass Inc. is located in Pennsylvania with additional executive and processing headquarters in Dallas. The Genpass family of companies offers technology-based, financial transaction processing and EFT servicing solutions for financial institutions, independent sales organizations, and corporate customers. MoneyMaker is the second largest ATM driver in the U.S. with over 20,000 ATMs in all 50 states. MoneyMaker is one of the largest transaction processors in the U.S., processing over 300 million transactions annually with gateways to every major card issuer and regional network in the nation. Genpass also operates Genpass Service Solutions, the largest independent ATM servicing company in the U.S., and Genpass ATM Solutions, which aids customers in formulating strategies for ATM deployments. The Genpass companies serve more than 1000 financial services customers.

[1]: http://www.westernunion.com/
[2]: http://www.firstdata.com/


MemberWorks Cuts Jobs

MemberWorks Incorporated, a leading provider of consumer and membership services through affinity marketing and online channels, announced it is revising its fiscal 2002 revenue, earnings and operating cash flow guidance. In revising its guidance, the Company cited a recent slowdown in consumer response rates due to the difficult current economic environment.

The Company also announced several cost saving initiatives in light of increasing uncertainty both in the U.S. and abroad and expects to record a restructuring charge of approximately $7.0 million in its fiscal second quarter. These initiatives include the closing of the Company’s United Kingdom operation, reducing the capacity of its inbound call centers, and downsizing operational infrastructure throughout the Company.

These actions will result in the reduction of approximately 225 employees or 15% of its workforce. Annual savings from these measures are expected to reach approximately $9.0 million.

Gary Johnson, President and Chief Executive Officer, said “The current economic environment is difficult, and the tragic events of September 11th have affected us all. Given the uncertainty surrounding the economy, we are making structural changes to the capacity of our Company in order to provide greater flexibility in responding to changing market conditions.” Mr. Johnson continued, “We are taking these steps to ensure the long term health of our business as we remain focused on profitability and cash flow performance. The net effect of these changes for this fiscal year will be to flatten revenue growth and to increase both cash flow and EPS on a year over year comparative basis.”

MemberWorks expects to report its financial results for the first fiscal quarter prior to the market opening on October 25, 2001. Based on preliminary financial data, it expects revenue for its first quarter ended September 30, 2001 to be in the range of $118.0 to $120.0 million. Earnings per share is expected to be $0.03 to $0.05, before a one-time gain on the sale of iPlace Inc., and operating cash flow is expected to be negative $7.0 to $8.0 million before working capital and negative $11.0 to $13.0 million after working capital. Cash and equivalents are expected to be approximately $43.0 million at September 30, 2001.

Consensus estimates for the first fiscal quarter were revenues of $123.0 million, earnings per share of negative $0.01 and operating cash flow of $10.4 million before working capital and $12.4 million after working capital. Compared to fiscal 2001, revenues for the September quarter are estimated to increase 23% to 25%, excluding iPlace Inc. results. Earnings per share is expected to be positive $0.03 to $0.05 vs. a loss of $0.48 per share last year before the cumulative effect of accounting change. Operating cash flow after working capital is expected to be negative $11.0 to $13.0 million vs. negative $14.0 million in last year’s first fiscal quarter.

The Company has also revised its outlook for the full fiscal year ended June 30, 2002. MemberWorks expects revenues to be $420.0 to $430.0 million. Earnings per share is expected to be $1.15 to $1.25 excluding one-time items. Operating cash flow is expected to be $16.0 to $18.0 million before working capital and $25.0 to $28.0 million after working capital.

MemberWorks’ previous guidance for the full fiscal year was revenues of $521.0 million, earnings per share of $0.72, fully tax-effected, and operating cash flow of $50.0 million before working capital and $70.0 million after working capital.

Compared to fiscal 2001, revenues for the full year are expected to be 3% lower, excluding iPlace results. Earnings per share are estimated to be positive $1.15 to $1.25 vs. negative $1.75 last year excluding the cumulative effect of accounting change. Operating cash flow after working capital is expected to be $25.0 to $28.0 million vs. $13.0 million last year. Johnson concluded, “Our financial performance for the rest of this year continues to show improved profitability and cash flow over last year. We are confident that the actions taken will make MemberWorks a stronger, more focused company.”

Headquartered in Stamford, Conn., MemberWorks is a leader in bringing value to consumers by designing innovative membership programs that offer services and discounts on everyday needs in healthcare, personal finance, insurance, travel, entertainment, computing, fashion and personal security. As of June 30, 2001, 7.9 million members were enrolled in MemberWorks programs, gaining convenient access to thousands of service providers and vendors. MemberWorks is the trusted marketing partner of leading consumer-driven organizations and offers them effective tools to enhance their market presence, to strengthen customer affinity and to generate additional revenue.


EDS Signs Wireless Deal

EDS announced the signing of a five-year, $18 million contract with Houston-based Commerciant to provide transaction processing services for Commerciant’s wireless terminals used by mobile merchants.

Commerciant targets the $470 billion “mobile business to consumer” market with highly secure, comprehensive transaction management solutions capable of supporting all non-cash payments in a mobile, wireless environment. The company’s flagship MobilScape hardware is the only wireless payments terminal with integrated credit card and check scanning capability, making wireless check conversion a reality.

Mobile businesses provide services and products to customers outside a fixed physical location, and include businesses such as food delivery, plumbing, heating, air conditioning, appliance and other home services, and in-home sales. Residential services represent the largest segment within this market.

Under the contract, EDS will provide real-time, point-of-sale, credit card acceptance and processing for transactions from Commerciant business customers using hand held devices to finalize sales. EDS also will provide electronic check clearing services for Commerciant’s MobilScape check processing system that transforms paper checks into electronic check payments by scanning checks, digitizing customers’ signatures and printing customer receipts at the point of sale. This cost-saving service allows mobile businesses to gain access to funds much faster and detect fraud earlier, a critical factor since mobile fleets seldom return to a central location to deposit and reconcile transactions for each day’s business.

“This agreement reflects an expanded use of EDS’ core transaction processing capabilities. Our point-of-sale services are being used to eliminate the disadvantages under which mobile businesses have long operated,” said Vinnie Calo, director of EDS’ Card Processing Services group. “Mobile merchants previously lacked the ability to verify checks in the field, and they pay premiums for credit card transactions called into a central location for authorization.

“EDS and Commerciant are leveling the playing field and introducing the same efficiencies to field sales and service operations that traditional fixed location businesses have experienced.”

In addition to transaction processing services, EDS will provide device management services for Commerciant and its business customers. These comprehensive services include device inventory management and tracking, as well as application downloading, device deployment and depot maintenance services. The services are supported through a 24×7 EDS client assistance center.

“EDS and Commerciant are bringing valuable services to on-the-road businesses that have a high demand for advanced, easy-to-use, low cost technology that makes them more efficient and productive,” said Commerciant Chief Executive Officer Elliot Sokolow. “Commerciant and EDS provide an innovative business model which eliminates the traditional cost barriers that made use of real-time payment processing prohibitive for many mobile merchants. There has been only fractional mobile device penetration in this market and by offering mobile point-of-sale transaction services that encompass all non-cash payments, as well as other field data service needs, we see a significant growth opportunity.”

About Commerciant

Commerciant is the single source wireless solutions provider in the payments and mobile business data service industry. Commerciant provides authorization, settlement, wireless access, and its low cost, hand held MobilScape(TM) terminal capable of performing remote credit card and check processing and other mobile business data services under a single contract. Learn more at [http://www.commerciant.com][1].

About EDS

EDS, the leading global services company, provides strategy, implementation and hosting for clients managing the business and technology complexities of the digital economy. EDS brings together the world’s best technologies to address critical client business imperatives. It helps clients eliminate boundaries, collaborate in new ways, establish their customers’ trust and continuously seek improvement. EDS, with its management consulting subsidiary, A.T. Kearney, serves the world’s leading companies and governments in 55 countries. EDS reported revenues of $19.2 billion in 2000. The company’s stock is traded on the New York Stock Exchange and the London Stock Exchange. Learn more at [http://www.eds.com][2].

[1]: http://www.commerciant.com/
[2]: http://www.eds.com/


AmEx & Sept. 11th

American Express announced Thursday it has added ‘The September 11th Fund’ as a new charity partner to its ‘Membership Rewards’ program. AmEx said is also matching all charitable point redemptions made by ‘Membership Rewards’ program enrollees through Dec. 31, up to a total of $200,000. For example, for every 1,000 ‘Membership Rewards’ points donated, a $10 contribution will be made. American Express and its employees are also contributing to relief efforts through the ‘American Express World Trade Center Disaster Relief Fund’ which includes an initial $1 million contribution from the American Express Foundation, which will also match the gifts of employees, financial advisors and retiree donations. In addition, American Express is contributing $1 million to the families of American Express employees who were lost in 1 World Trade Center.