Certegy Contract

MacDill Federal Credit Union, based in Tampa, Florida, has selected Certegy Card Services, Inc, formerly Equifax Card Services, Inc. to process its 20,000 credit card accounts. “Our members depend on us to provide prompt, accurate financial services,” said credit union executive vice president E. C. Williams. “We have used another card processor for the last several years, but we believe that Certegy is better positioned to help us meet our members’ needs. Certegy is where we want to be, strategically, over the long term.”

Certegy Card Services, a subsidiary of Certegy Inc. is the nation’s largest card processor for credit unions and independent banks, providing card processing services and marketing services for more than 5,000 clients in the United States. Certegy also provides high quality card processing services to clients internationally in the United Kingdom, Brazil, Chile and Australia. Clients in 30 countries around the world use Certegy card processing software.

Williams cites Certegy’s superior back-office support, along with the ability to have a Certegy business consultant provide personalized portfolio development assistance, as important Certegy advantages. “We are focused on attracting even more of our members to MacDill’s card program. We plan to achieve significant program growth, and Certegy is the only processor that can give us the strategic support we need to realize our growth goals-while maintaining excellent service to members,” he says.

“We are delighted to welcome MacDill Federal Credit Union. We will provide them with customized service and the best card processing value in the business,” says Vince Pavese, senior vice president and general manager, Certegy Card Services ­ North America.

Certegy Inc. (CEY: NYSE) provides credit, debit and merchant card processing, e-banking services, check risk management and check cashing services to financial institutions and merchants worldwide. Headquartered in Alpharetta, Georgia, Certegy maintains a strong global presence with operations in the United States, Canada, the U.K., Ireland, France, Chile, Brazil, Australia and New Zealand. As a proven global payment services provider, Certegy enables transaction certainty, brings customers and commerce together and provides business results through leading technology. Certegy employs about 5,800 associates in 9 countries and had $779 million in revenue in 2000.

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ECHO 2Q/01

Card processor Electronic Clearing House reported net income of $282,000 for its third fiscal quarter ending June 30, a decrease of 12.1% compared to net income of $321,000 for the same period last year. Revenue for the quarter was $7.8 million, a decrease of 3.3% as compared to $8 million for the same period last year. Total processing and transaction revenues for this fiscal quarter increased 15.5% to $7.5 million, from $6.5 million in the third fiscal quarter 2000. The increase was attributable to a 128% increase in check-related revenue and a 4.8% increase in bank card and transaction revenue. Terminal sales decreased 87.1% to $183,000 for this fiscal quarter, down from $1.4 million in the third fiscal quarter 2000. This decrease was primarily due to the delivery of approximately 3,100 terminals to U-Haul during the same quarter in 2000. For complete details on ECHO’s latest quarterly results visit CardData ([www.carddata.com][1]).

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

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AmEx Cheque Prez

American Express announced the appointment of Barbara Fraser to the position of president, Travelers Cheque Group Worldwide, based in New York City. In this role, Ms. Fraser will have overall management responsibility for the 110-year-old global business, one of the Company?s oldest and best-known enterprises. Last year, American Express Travelers Cheque sales totaled $24.6 billion worldwide.Ms. Fraser has had a successful career in both the consumer goods and financial services industries at leading global companies, bringing broad business experience to her new role with American Express.Ms. Fraser began her career at Procter & Gamble where, over many years, she earned a reputation for delivering strong business growth and developing people. She held marketing and general manager assignments in Canada across all major product categories, including paper, laundry, and cleaning and beauty care. During her last eight years with the company, she was vice president and general manager of Paper Products, and then Beauty Care Products for Canada, leading large organizations and exceeding profit forecasts for seven of the eight years.In 1995, Ms. Fraser decided to enter the financial services sector, joining Citigroup as head of Marketing and Strategic Planning – Investment Products and Distribution for Citibank Global. Ms. Fraser went on to hold a variety of senior positions including chairman and CEO for Citicorp Investment Services and Citicorp Insurance Group, U.S., and managing director – International Investments, Citibank Global.Awards recognizing her business success include:·Citibank Consumer Bank, Special Recognition Award – 1998 ·Academy of Women Achievers, YWCA of the City of New York – 1997 ·American Marketing Association – 1990 Ms. Fraser graduated from the Richard Ivey School of Business, University of Western Ontario in London, Canada, and earned her Series 7 and 24 securities licenses in New York.Ms. Fraser lives in Wilton, Connecticut with her husband and two daughters.Ms. Fraser replaces Susan Kinder, who is retiring from American Express.American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking.

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Leveling Off

Credit card charge-offs for card-backed bonds of U.S. banks dipped during June as bankruptcy filings slowed. This is good news as charge-offs typically decline during the summer months. According to Standard & Poor’s ‘Credit Card Quality Index’, charge-offs declined by 50 basis points to 6.4% in June among $350 billion in receivables held in trusts of publicly rated credit card-backed securities. Although bankruptcy filings are running higher this year compared with 2000, the rate of filings has slowed down from the reported levels in March and April following the passage of the bankruptcy reform in Congress. More than one-half of the trusts that make up the S&P indexes experienced declines in charge-offs in June. The largest improvements came from Citibank, Citibank/Universal and Providian. Citibank’s losses dropped 215 bps to 3.86%. Universal and Providian also reported a decline of approximately 200 bps over last month’s figures.

CREDIT CARD QUALITY INDEXES
Performance month: June 99 June 00 Apr 01 May 01 June 01
Yield: 19.1% 19.4 19.8 20.1 19.0
Charge-offs: 5.9% 5.4 6.6 6.9 6.4
Delinquencies: 4.4% 4.1 4.9 4.9 4.9
Payment rate: 16.4% 16.6 15.5 16.2 16.0
Source: Standard & Poor’s

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Concur Expense

Concur Technologies, Inc., the market leader of Corporate Expense Management solutions, announced that Pfizer, Inc., a leading research-based, global pharmaceutical company, has expanded its license of Concur Expense to include more than 85,000 worldwide employees. The expanded license builds on the successful rollout of Concur Expense to Pfizer’s U.S.-based employees. Concur Expense, the world’s leading Web-based T&E expense management solution, allows companies to focus on their core competencies and provides rapid return on investment. Concur’s low risk, high reward Corporate Expense Management solutions reduce operational costs and increase business efficiencies, maximizing a business’ limited resources and bottom-line results.

“Companies are wise to look at corporate expenses as a way to cut costs and increase efficiencies in a slowing economy,” said Phil Dunphy, senior manager, global travel for Pfizer. “We deployed all US employees on Concur Expense, and based on the success of that project, we chose to expand our license with Concur for worldwide deployment. Pfizer will achieve significant T&E savings as a result of our worldwide deployment of Concur Expense.”

“Pfizer is at the forefront of companies who have recognized the importance of reducing corporate expenses in the slowing economy,” said Steve Singh, chairman, president, and chief executive officer for Concur. “Pfizer’s selection of our market-leading expense management solution for worldwide deployment is a tremendous validation for our ability to deliver global deployments that achieve rapid return on investment. Our unmatched experience in deploying tens of thousands to hundreds of thousands of employees in large corporations, like Pfizer, is what makes Concur uniquely qualified to meet Pfizer’s worldwide expense management needs.”

Concur Expense automates each step of the T&E expense management process — from expense report preparation and approval to policy compliance, data analysis, and reimbursement. With Concur Expense, companies gain new control over their T&E expense management process. Travelers prepare expense reports faster and more accurately, aided by the direct prepopulation of expense data from their corporate charge cards. Expense reports are automatically routed to managers, who can more efficiently approve expense reports on-line and receive immediate notification of non-compliant entries. Accounting departments are more productive because expense reports are delivered on-line and automatically link to financial and payroll systems, eliminating the need to re-key expense data. Easily accessible expense data allows the company to analyze spending trends and negotiate better supplier rates for additional savings.

About Pfizer, Inc.

Pfizer, Inc. is a research-based, global pharmaceutical company. The company discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer has three business segments: health care, animal health, and consumer health care. Its products are available in more than 150 countries. For more information about Pfizer, go to .

About Concur Technologies

Concur Technologies, Inc. is the market leader of Corporate Expense Management solutions that automate costly and inefficient business processes, allowing companies to better leverage their most limited resources: time, money, knowledge, and energy. Meeting the needs of businesses of all sizes, Concur’s solutions include travel and entertainment expense management, employee requests for vendor payments, and time tracking and reporting, and can be delivered through license and Application Service Provider (ASP) models. Today, over 800 companies, including AT&T, Citigroup, Daimler-Chrysler, DuPont, First Union, and Pfizer, have licensed over 2.2 million employees to use Concur’s market-leading solutions to reduce costs, and increase productivity and access to data about internal business processes. Delivering on its commitment to excellence and meeting the needs of its customers across the globe, Concur leverages its strategic alliances with more than 50 world-class organizations such as ADP, American Express, Exodus, KPMG Consulting, Inc., Microsoft, and Microsoft Great Plains Business Solutions, and has successfully deployed its solution to more than 1.4 million employees worldwide. Concur also continues to expand its international market leadership with more than 50 companies deployed outside North America. More information is available via the Internet at .

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Bush & Reform

AUGUST 8, 2001 LETTER ON BEHALF OF PRESIDENT BUSH

Dear Mr. Chairman:

The Administration understands that conferees will soon begin to discuss ways to reconcile the House and Senate versions of H.R. 333, the Bankruptcy Reform Act. As an agreement on this bill develops, your consideration of the Administration’s views would be appreciated.

The Administration supports the overall goal of the bankruptcy reform legislation. The common sense reforms in these bills will curb many of the abuses of the current bankruptcy laws. However, the Administration strongly opposes the Senate-passed language regarding the homestead exemption and strongly urges the conferees to return to the bipartisan compromise language that was adopted by the last Congress.

Also, as you know, the Administration opposes Section 1310 of the House bill (which was deleted from the Senate version of the bill) because it has the potential to undercut the rule of law as it applies across international borders, with serious consequences for U.S. interests. The Administration looks forward to working with the conferees to resolve these and any other outstanding issues and secure passage of bankruptcy reform legislation.

Thank you for your consideration.

Sincerely,

Mitchell E. Daniels, Jr. Director

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Boulder Taxes

Official Payments Corporation announced that the Boulder County Treasurer signed a service agreement that will enable citizens of Boulder County to pay their property taxes over the Internet or via the telephone with the use of their credit cards.

Boulder County, which is the sixth largest county out of 63 counties in Colorado, populates over 290,000 people and collects $320MM annually in property taxes. Boulder County residents will be able to pay property taxes via the Internet at www.officialpayments.com, or via the telephone by calling toll-free 1-800-2PAY-TAX. American Express, Discover Card, MasterCard and Visa are the cards accepted by the program. Bills will be mailed out the third week of January 2002. “We want to simplify this process as much as we can for our taxpaying citizens. We believe that Official Payments Corp. provides a service that will meet our needs; creating an innovative, efficient service as well as an additional option for our taxpayers. We want to continue to expand our services for our taxpayers due to the continuing increase of population in Boulder County,” said Sandy Hume, Treasurer of Boulder County Treasurer’s Office.

“We are encouraged with our new business traction in Colorado. We started in the City of Aurora and are aggressively pursuing business with other Colorado municipalities,” stated Tom Evans, CEO and Chairman of Official Payments Corporation.

Official Payments has similar agreements with over 900 government entities across the country. The company has contacts with the Internal Revenue Service and eighteen state governments and the District of Columbia to collect taxes, fees, and fines by credit card over the Internet and telephone. Official Payments Corp. charges taxpayers a convenience fee for processing these credit card transactions. The fee schedule can be found on the Internet at www.officialpayments.com. For example, a taxpayer who owed a current tax of $2,500.00 in property taxes and charged their taxes, would find a total of $2,568.00 on their credit card statement: $2,500.00 for the tax bill and $68.00 for the convenience fee. Taxpayers using credit cards with bonus rewards programs can, depending on their card’s program, earn rewards, points, and cash-back on airline frequent flyer miles for paying their taxes.

About Official Payments Corp.

Official Payments Corporation (Nasdaq: OPAY) is the leading provider of electronic payment options to government entities. The company’s principal business is enabling consumers to pay their government taxes, fees, fines, and utility bills by credit card, via Internet and telephone. The company is unequaled in market penetration and national footprint. Official Payments has agreements to collect and process credit card payments with the Internal Revenue Service, 18 state governments, the District of Columbia, and over 900 county and municipal governments in 48 states across the United States. In 2000, Official Payments collected and processed over $925 million in federal, state and local government payments.

Official Payments was founded in the San Francisco Bay area in 1996. Thomas R. Evans, the former President & CEO of the Internet company GeoCities, became Chairman & CEO of Official Payments in the summer of 1999. Mr. Evans brought Official Payments public in November of 1999, raising $80 million in its IPO on the NASDAQ national market. The company’s success in new client acquisition, increasing business with its existing clients and in building consumer awareness can be attributed to the combination of an enormous market opportunity with a highly skilled and experienced management and staff, aggressive sales and marketing, and a core competency in developing and implementing leading-edge technical systems.

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InteliData 2Q/01

EBPP provider InteliData reported 2Q/01 revenues from continuing operations of $4,355,000 compared to $1,199,000 for the same period last year. Net loss for the quarter including all non-cash charges was $8,295,000. The Company says it is on track for profitability in the second half of 2002. InteliData says it has a watershed event on the horizon in the launch this fall of ‘InteliWorks’, the firm’s next generation technology platform based on ‘J2EE’ architecture. The initial applications will include ‘Bill Presentment Aggregation’, ‘Bill Payment’ and ‘Payment Network Connectivity’. InteliData’s plans include a national media tour kicking off in New York, and joint marketing events with Spectrum EBP including an intensive marketing campaign aimed at existing/potential Spectrum member banks. For complete details on InteliData’s latest quarterly results visit CardData ([www.carddata.com][1]).

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

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TransFirst Acquisition

CO-based TransFirst has acquired a portfolio of merchant contracts from Money Tree Services. The transaction is expected to add about $350 million in annual processing volume for TransFirst. NV-based Money Tree Services operates several companies including Business Center USA, a bankcard services organization that began operations in 1986. The company offers services to traditional merchants as well as Internet-based businesses. Formed in 1995, TransFirst has grown to become the second largest privately-held, non-bank merchant processing company in the country. The Money Tree acquisition will bring TransFirst’s projected bankcard sales volume for the fiscal year ending June 30 to nearly $3.5 billion. The merchant portfolio will be processed by Vital Processing.

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PAYCELL TERMINALS

Watford, 24 July 2001. Bus ticket inspectors in Hertfordshire, UK, are to be equipped with the state-of-the-art in mobile SmartCard readers from Thyron Technologies to streamline the implementation of concessionary pass schemes. The new system will help Hertfordshire County Council monitor and analyse usage of the schemes, as well as discourage abuse.

Using Thyron’s highly successful hand-held PayCell terminals, which can read cards without physical contact, ticket inspectors can quickly and easily validate a cardholder. Once read, the information on the card is compared with the council’s database of registered users to establish the legitimacy of the user and to establish which level of concession is appropriate. This data is recorded to enable the Council to reimburse bus companies more accurately for concessions.

Developed by Prepayment Cards Ltd (PCL, formerly ERG Card Services) the Hertfordshire County Council scheme was launched in a single region in 1997 and over 20,000 free or half-fare contactless smartcard permits are now in use, with qualifying users paying an annual fee to use the card. Recently, the council has decided to implement mobile, handheld card readers to enhance the efficiency of the system. Thyron’s PayCell was selected by PCL for this new phase of the scheme due to the terminals’ proven track record in the transport industry, where they are often used for ticket issuing and validation.

“With around 34 million journeys made on Hertfordshire’s buses each year, the service is obviously vital for many in the community,” explained Principal Transport Officer, Keith White, “and the council works closely with the bus companies to maintain a high quiality of service for those most in need. PCL recommended the use of the PayCell terminals, and we are confident that it will add significantly to the system’s effectiveness.”

The most advanced product of its type, PayCell utilises the latest wireless communications technology, such as Dual band GSM and GPRS, and can support 4 separate card technologies, including the contactless cards used in the concessionary scheme. This makes use of Mifare™ technology, requiring only that the card is held close to the terminal in order to read and write the data. No physical contact is required.

About Thyron Technologies Ltd.

Thyron Technologies is the market leading supplier of Mobile Payment Solutions listing major banks among its customers. The company’s advanced range of products includes the PayCell, which is the only mobile, portable or fixed payment terminal offering independence of landline communications, and Financer, a family of intelligent, programmable, portable hand-held card processing terminals for portable EFTPoS, electronic commerce and electronic banking.

The products have a full development environment, and Thyron offers comprehensive training courses. The company operates closely through technology partners around the globe through its MAP (Mobile Alliance Partner) Programme.

For more information, contact Bill Thompson at Thyron. Tel: 01923 236050.

Email: bill.thompson@thyron.com

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eN-LAN Deal

IVI Checkmate Corp. announced that Global Payments Inc. of Atlanta, GA will certify and market IVI Checkmate’s eN-LAN 4000? Hospitality and Lodging Solution. Global Payments will sell the local area network solution to hotels, motels, resorts and property management operations that require a complete payment authorization and management system. Global Payments is a leading provider of electronic payment processing solutions to merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations in North America.

The IVI Checkmate eN-LAN 4000 Lodging System provides a comprehensive yet simple-to-use solution that reduces operational errors and increases accountability. The system is designed to improve the check-in and check-out process by reducing customer wait time. It can be placed at the check-out area and in the retail shop, providing centralized control of all transaction functions. Summary and detail reports reduce management batch closing time and highlight potential trouble areas.

“We are pleased to be able to add a new product offering through an old partner, IVI Checkmate. The IVI Checkmate eN-LAN 4000 system provides an opportunity for Global Payments to sell a comprehensive payment solution that complements our credit card and check service offerings for the hospitality and lodging markets. We have a number of locations where the eN-LAN 4000 Lodging System can be implemented without modifying the existing local area network wiring. This, and the eN-LAN 4000’s outstanding application feature set, will enable our sales channels to compete favorably for replacement and new business,” said Chief Information Officer for Global Payments, Barry W. Lawson.

Michael Hackney, vice president and general manager of IVI Checkmate’s Financial Systems organization stated, “We are honored to have Global Payments, a leader in the payment processing world, certify and market our hospitality and lodging solution. They will be able to leverage the advanced features that our stand-beside local area network payment system provides, increasing their market presence.”

The eN-LAN 4000 local area network solution uses the eN-Counter 4000? modular POS terminal as the LAN gateway and as a workstation on the LAN. Using the eN-Counter 4000 as the gateway eliminates the need for an expensive LAN PC hub. A second eN-Counter 4000 terminal serves as the back-up gateway, maximizing uptime and reducing the users’ cost of ownership. The eN-Counter 4000, serving as either a gateway or a LAN workstation, uses the same user interface and application features, greatly reducing training time and equipment expense.

About Global Payments

Global Payments Inc. (NYSE:GPN) is a leading provider of electronic transaction processing services to merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada and the United Kingdom. Global Payments offers a comprehensive line of payment solutions, including credit and debit cards, business-to-business purchasing cards, gift cards, check guarantee, check verification and recovery, terminal management and funds transfer services.

About Ingenico

Ingenico is a leading provider of smart card based secured transaction products and systems. It has subsidiaries and partnerships all over the world and customers in over 50 countries and territories where its installed base exceeds 3 million point-of-sale terminals. See [www.ingenico.com][1] for more information.

About IVI Checkmate

IVI Checkmate is a major electronic transaction solutions provider in North America. The company designs, develops and markets innovative payment and value-added solutions that optimize transaction management at the point-of-service in the retail, financial, travel and entertainment, health care and transportation industries. IVI Checkmate’s software, hardware and professional services minimize transaction costs, reduce operational complexity, and improve profitability for its customers in the U.S., Canada and Latin America. See [www.ivicheckmate.com][2] for more information.information

[1]: http://www.ingenico.com
[2]: http://www.ivicheckmate.com

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ICMA KEYNOTE

PRINCETON JUNCTION, NJ July 27, 2001 Industry expert Catherine Johnston*, president and CEO of the Advanced Card Technology Association of Canada (ACT CANADA), will deliver the keynote address at the International Card Manufacturers Association’s (ICMA) 11th Annual EXPO 2001. This year’s premier card manufacturing event will be held November 11 14, 2001, at the Athenaeum Inter-Continental Hotel, Athens, Greece.

Johnston will be presenting “Smart Cards: Ecstasy and Elephant Traps,” and will discuss the current global status of smart cards, and other advanced card technologies and the favorable conditions for their deployment.

As the President and CEO of ACT CANADA, Johnston monitors the marketplace and industry, consults, conducts corporate briefings, and develops and teaches seminars. In addition, she is the vice-chairman of the Canadian Payments Association Stakeholders Council and a member of the Independent Advisors Group of the International Biometrics Industry Association. She was a founding member of the Global Smart Card Summit and served on the federal government’s National Advisory Board for Technology and Tourism.

Johnston is a leading expert in the field of privacy and card technologies. She is co-author, with the Office of the Information and Privacy Commissioner/Ontario, of the world’s first Privacy Impact Assessment Procedure for Smart, Optical and Other Advanced Card Applications as well as Multi-application Smart Cards, How to do a Privacy Assessment. Currently, she is co-authoring a book on the future of smart cards.

The theme of this year’s ICMA 11th Annual EXPO, “2001: A Card Odyssey,” celebrates the new era of card manufacturing and personalization for the 21st century. The event will provide the latest industry education on broad spectrum card manufacturing and personalization topics as they relate to production, technology applications, and current industry trends. Additionally, the conference will showcase both management and technical topics attended by card manufacturing plant owners, production personnel and executives worldwide.

Highlighted events include a trade show, the annual ICMA Golf Tournament and the Final Night Awards Dinner, featuring the presentation of the Elan Awards for Card Manufacturing Excellence and Outstanding Member Service. Also, results of the Third Annual ICMA Card Manufacturing Global Market Survey which lists the total number of cards manufactured and their principle markets will be released for the first time.

The ICMA Annual EXPO continues to grow in scope and attendance every year as the leading forum for card manufacturing trends and issues. This year the association expects over 450 attendees representing more than 40 countries worldwide.

For ICMA 11th Annual EXPO 2001 exhibiting, registration or sponsorship information, or for information on becoming a member of ICMA, contact Lynn McCullough. Phone: 609-799-4900, email: Imccullough@icma.com or visit the ICMA Web site at http//www.icma.com.

About ICMA

Based in Princeton Junction, NJ, ICMA is a non-profit association of card manufacturers and related industry participants. With more than 220 members globally, ICMA acts as a clearinghouse for industry issues including the production, technology, application, security and environmental issues of plastic cards.

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