MONEY TRANSFERS

Orlandi Valuta, a subsidiary of First Data
Corp., Banco Nacional de México, S.A. (Banamex) and California
Commerce Bank announced that they have entered into an agreement
that will facilitate consumer money transfers to and from Mexico.
Banamex and CCB, both subsidiaries of Grupo Financiero Banamex-Accival
(Banacci), will become a principal agent in Mexico for Orlandi Valuta consumer
money transfers. As Mexico’s leading bank, Banamex will offer Orlandi Valuta
money transfer services at its approximately 1,700 bank branch and sub-agent
locations within the next few days, strengthening the Orlandi Valuta agent
network in Mexico, which currently includes more than 900 locations throughout
Mexico. With Banamex, Orlandi Valuta will now offer customers the added
convenience of receiving their money transfers in the form of a cash pay-out,
improving upon the company’s current check-based disbursement.
“We are very pleased to establish this alliance with Orlandi Valuta,” said
Manuel Medina Mora, chief executive officer for Banacci. “The new services
offered under our agreement will provide even greater value to consumers
sending money to and receiving money in Mexico. The simplified process backed
by Banamex’s ability to pay cash throughout Mexico will ensure a safe,
reliable
and convenient way for consumers to send their hard earned money home.”
“The simplicity and confidence offered to consumers as a result of our
agreement between Banamex and Orlandi Valuta greatly improves the ability for
Orlandi Valuta customers to send their money home quickly and safely,” said
Charles T. Fote, president and chief operating officer for First Data Corp.
“Orlandi Valuta has been a leader in providing a simple and secure money
transfer service to Mexico, this agreement with Banamex extends that
leadership
position to the benefit of our customers.”

About Banacci
Grupo Financiero Banamex-Accival is Mexico’s leading financial group.
Following
a universal banking strategy, the Group offers a variety of financial services
to companies and individuals, which include commercial and investment banking,
insurance, and fund management. Banamex, founded in 1884, is Mexico’s leading
commercial bank in terms of equity.The Bank has an extensive distribution
network of more than 1,300 branches and 3,000 ATM’s located throughout the
country.

About California Commerce Bank California Commerce Bank provides full banking
services for companies and individuals that do business in Mexico and the
United States. As part of Grupo Financiero Banamex-Accival, CCB is the U.S.
banking arm of Banco Nacional de Mexico (Banamex), Mexico’s leading bank. As
such, CCB is the gateway to and from Mexican financial markets. With over $2.1
billion in assets and advanced international information technology systems,
CCB is a valued resource for customers with interests, which cross national
boundaries. For more information, visit California Commerce Bank at www.ccbusa.com.

About Orlandi Valuta

Orlandi Valuta, a subsidiary of First Data Corp. (NYSE FDC) provides same day
and next day electronic money transfer service from the United States to
locations in El Salvador, Honduras, Guatemala and all 32 states in Mexico. In
operation since 1986, Orlandi Valuta has established a safe and reliable agent
network with more than 4,500 locations.
About First Data Corp.

Atlanta-based First Data Corp. (NYSE FDC) powers the global economy. Serving
nearly 2.5 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, 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 www.firstdata.com.

Details

SUNGOLD DEAL

Sungold Entertainment Corp. announces that an agreement has been completed for
the acquisition of the entire world wide right, title and interest to the
internet payment system technology of SafeSpending Services Inc. The internet
payment system business is a growing multi billion dollar market.

The acquisition agreement with SafeSpending includes all copyrights,
trademarks, source codes and SafeSpendings’ intellectual property. Under the
terms of the agreement Sungold has agreed to pay a 7.5 percent royalty of net
revenue relating to the technology and 330,000 common shares in the capital of
Sungold Entertainment Corp. upon Sungold or it’s subsidiary Horsepower
Broadcasting Network Inc. receiving $1,000,000 in net revenue from the sale or
license of the technology. The SafeSpending internet payment system is a
pre-paid spending system that uses cards with a unique PIN number which can be
used to make purchases online from merchants or individuals.
A survey by Odyssey Online found that 83 percent of respondents said that
payment security concerns prevented them from shopping online.
The alternatives to credit and debit cards being offered as more secure
alternatives, such as Smart Cards, fail to address consumer concerns about
privacy.

SafeSpending has developed a system which allows consumers to pre- purchase
spending cards of a certain value that will enable the consumer to purchase
online without divulging any personal, confidential information as would be
necessary if one used a credit card or any other traceable transaction
service.

The pre-paid cards will be of a certain value (e.g. the cards value will come
in $25.00, $50.00, $75.00 and $100.00 increments), allowing the consumer to
choose which card best suits their purchasing needs. The cards will be
available behind the counter at most major retailers.

Online merchants can be assured of almost immediate payment, and pay a smaller
fee to the Company for use of the SafeSpending payment system than they would
usually pay to a credit card company. Merchants accepting prepaid spending
cards would be immune from fraud. Music and media outlets, looking for ways to
tap into the vast teen market online, may find prepaid spending cards a
solution to their current marketing dilemma. Individuals selling on auction
sites could receive payment from bidders by providing SafeSpending with an
account number. Conversely, auction sites are looking for solutions to the
fraud for which their sites are becoming infamous. Online gamblers can monitor
their wagering by using age restricted SafeSpending cards instead of credit
cards.

Details

FDC Denver

First Data Corp. confirmed yesterday it is moving its global corporate headquarters from Atlanta to Denver. President and COO Charlie Fote will relocate to Denver upon completion of a new building in mid-2002. Fote has been based in the Denver area for more than 17 years. He will assume the CEO post at First Data in January, succeeding Ric Duques, who will remain Chairman of the Board. FDC has about 2,600 employees and a core team of senior managers based in the Denver area. In April, FDC broke ground on a new 166,000-square-foot Douglas County office complex in the Meridian International Business Center just outside of Denver. Several First Data business units are already headquartered in Colorado, including Integrated Payment Systems; SkyTeller; govONE Solutions; First Data Payment Services; and Western Union Financial Services. First Data has more than 27,000 employees globally.

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OLD NEWSPAPER PAYMENTS

Old news is shunned in the newspaper business, but now it might mean new
money
Cold North Wind Inc. and microCreditCard Inc. announced today a strategic
alliance designed to bring searchable images of newspapers in their original
published form and the power of online content sales to the newspaper
industry.

Cold North Wind generates new revenue from old news by digitizing newspaper
archives on microfilm and then publishing and selling those images on the
Internet. Together with microCreditCard, the Internet’s leading
credit-card-based micro-payment facilitator and alternative billing provider,
they will tour North America, educating publishers on ways to turn old news
into real profits.

“We are excited about this partnership with microCreditCard. They are the best
online payment solution around – it will be a powerful relationship,” said Bob
Huggins, CEO of Cold North Wind. “Newspapers on microfilm provide us with a
remarkable view of the past. Unfortunately, access to this material is limited
by the locality of both microfilm readers and microform collections. Today,
users want to get this information on the Internet. But digitizing these
archives and then marketing them over the web can be arduous and expensive for
a newspaper to undertake on its own. Together with microCreditCard, we offer
newspapers a painless, quick method for converting archives and realizing
profits from them.”

Cold North Wind’s process creates and publishes searchable digital images of
every page in a newspaper — not just selected stories. Currently, most
newspapers provide a limited number of online articles in ASCII form from the
past five to ten years only. As a result, the sole method of searching
newspaper archives is through microfilm, a time-consuming process.
In February, New York Post and Cold North Wind Corp. announced a letter of
intent to digitize and publish the microfilm archives of the New York Post
newspaper and make it available on the Internet. Readers will be able to
search
and view the original printed format from the paper’s almost 200 year-old
archive.

“We want to help publishers get past the online content sales hurdle,” said
Leslie Poole, CEO of microCreditCard. “The Internet has great potential to act
as a record keeper and revenue generator, but that potential has not yet been
realized. microCreditCard eliminates a myriad of technical, administrative and
financial obstacles, so that Web sites can realize revenue from content within
hours. The best part is that our technology is applicable to an array of
content formats, from music, to movies to articles. Our solution comes at a
critical time when content providers are searching for revenue sources –
microCreditCard and Cold North Wind are here to help.”
microCreditCard’s products were created in response to content providers’
frustration with the difficulties and cost involved in developing a payment
process. microCreditCard is one of the first companies to offer a
micro-payment
solution and its services suite is the only same-day solution enabling credit
card transactions.
Cold North Wind was attracted to the company’s ability to accommodate multiple
currency management, subscription management, digital content management, and
the ability to sell digital content either via subscription or in “unbundled”
individual units, such as a single archived page.

About microCreditCard

Headquartered in Arlington, Va., microCreditCard, Inc., is the Internet’s
leading credit card-based micro-payment facilitator and alternative billing
provider. Founded in 1999, microCreditCard’s robust solution, which
consists of
a Content Gateway(TM), a Payment Gateway(TM), and an Aggregation
Engine(TM), is
easy to set up and allows transactions for 10(cent) and higher.
microCreditCard offers three tiers of service – microCreditCard Managed,
Managed Plus, and Premium – depending on the needs of the merchant. For more
information about microCreditCard, visit its Web site at www.microCreditCard.com.

About Cold North Wind

Founded in 1999, Cold North Wind is creating a worldwide online newspaper
archive. The company turns newspaper archives on microfilm into
high-resolution, searchable, digital images on the Internet. Cold North Wind
provides revenue-producing solutions to organizations that hold valuable
microform archives, as well as to distributors of online content.
Through partnerships with newspapers, media corporations, micropublishers and
content distributors, Cold North Wind is providing business solutions to
enable
publishers to create new revenue streams from archived materials. Cold North
Wind Corp. is based in Framingham, Massachusetts. Its parent company, Cold
North Wind Inc. is headquartered in Ottawa, Canada.
For further information, please visit www.coldnorthwind.com.

Details

Cap One Purchase

Capital One Financial has agreed to acquire AmeriFee Corp, a major provider of patient financing solutions for elective dental, orthodontic, vision and cosmetic procedures. Cap One is paying $81.5 million for the acquisition, with $65 million to be paid in cash and the remainder in common stock. Cap One will also make additional payments for hitting performance targets. AmeriFee, a privately held company with more than 160 employees based in Southborough, MA, will become a wholly owned subsidiary of Capital One. Current management of AmeriFee will continue to manage its operations as a subsidiary of Capital One.

Details

Austin Logistics Execs

Austin Logistics Incorporated, providers of well-known call-targeting software such as CallTech(tm), CallSelect(tm), and OnQ, announced important additions to its sales staff.

Hank Wier has been named vice president of sales. Wier comes to Austin Logistics from Fair, Isaac & Company, with extensive experience managing organizations that sell to the financial services industry. At Austin Logistics, he will leverage the company’s reputation for innovative yet practical solutions within the financial services sector.

Mike Kuryak, most recently vice president of sales and marketing, has been named vice president of customer support, partnership management, and international distribution. He will further enhance client satisfaction with Austin Logistics’ renowned client support, and will expand its products through strategic partners and licensed distributors worldwide.

Jack Rasmussen, also from Fair, Isaac, is joining Austin Logistics as senior sales executive. Rasmussen brings more than 20 years of experience in model building, management, and sales of custom models and software.

Buzz Sawyer joins Austin Logistics as senior software sales advisor. With 20 years of product management and technical sales experience, he is respected in the financial services industry for innovative solution designs. Before joining Fair, Isaac nine years ago, Sawyer was a founding partner with PaySys International (formerly Credit Card Software).

“Together, these organizational changes will allow us to continue our intense focus on customer satisfaction, while managing the growth that has come with success,” said Daniel Duncan, president of Austin Logistics.

About Austin Logistics Incorporated

Austin Logistics has been trusted since 1992 by America’s largest financial services companies for innovative, practical solutions to increase effectiveness of consumer credit collections, telemarketing, and risk management. For further information on Austin Logistics, please visit the web site at [http://www.austinlogistics.com][1].

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

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BOUTIQUE BOULEVARD

The Mouvement des caisses Desjardins continues to
innovate in the area of e-commerce, It will soon offer consumers a virtual
shopping service with secure payments from its website at www.desjardins.com.
Desjardins has also joined with a Québec company, Clic.net, which is known for
its expertise in developing e-commerce solutions, to design its virtual mall
(boutiqueboulevard.com) of stores that have signed on to use its Internet
payment server. Canada Post will make its eParcel(TM) shipping service
available to shoppers for delivery of their purchases. Through this new
venture, Desjardins has now extended the range of its financial services to
include the B2C market.

The Desjardins payment server, using Touchlink technology, is a virtual
terminal that executes on-line transactions through a secure connection.
Payment transactions are controlled, authorized and validated by Desjardins,
so there is no risk for either the consumer or the merchant. The way it works
is simple the transaction data (order information, client identification,
credit card number) are encrypted, then transferred from the buyer’s computer
to the Desjardins server, which is the only computer that can read the
encrypted data.

It is estimated that as many as 35% of Canadian Internet users will be
making purchases on line in 2003, mainly motivated by conveniences such as
being able to make their purchases from home, and being able to shop outside
of regular store business hours.

“We are very aware of the fact that the main obstacle to developing the
B2C market is payment security. Lack of confidence and fear of giving a credit
card number over the Internet, despite the various security measures in place,
are often the main reasons consumers give to explain why they hesitate to make
such transactions. Desjardins is addressing that concern by ensuring payment
security, thereby establishing a climate of confidence that will benefit both
the consumer and the merchant”, said Mr. Eric Lemieux, Vice-President
Electronic Access and Payment Services at Desjardins.

According to Mr. Louis-Marius Gendreau, President of Clic.net “On-line
sales should be worth around $15 billion by 2003. Companies cannot ignore such
an enormous source of sales and custumers, Clic.net and Desjardins are
offering them efficient, secure and easy-to-use tools at a very affordable
price to develop this potential, allowing them to benefit fully from all the
advantages of on-line sales.”

Mrs. Francine Conn, General Manager, Distribution Business at Canada
Post, said “Canada Post is excited to be part of the total Desjardins service
package. Our alliance in this new initiative is consistent with our e-commerce
strategy and our commitment to offer small and medium-size companies business
solutions that meet their specific needs.”

ABOUT DESJARDINS

With overall assets reaching $80 billion and more than 36,000 employees,
the Mouvement des caisses Desjardins is the top financial institutions and the
largest private employer in Québec. It is the only one to offer, through its
network of caisses located throughout Québec, a full range of financial
products and services. Desjardins is a leader in Québec in terms of e-
commerce with more than 1,500,000 visits per month,
www.desjardins.com is the
most frequented financial site in Québec and second in Canada, and 28,000
companies are already using its AccèsD Affaires business service. The
Mouvement Desjardins’ mission is to contribute to the economic and social
well-
being of individuals and communities.

ABOUT CLIC.NET

Founded in 1994, Clic.net allows small and medium businesses to sell
their products on the Internet in a secure, multi-currency, and bilingual
environment. Furthermore, with this solution a merchant does not need to
invest in expensive technological devices or software. Also working in the
creation of transactional web sites and electronic catalogues, the company won
the Boomerang Prize for best transactional for its achievements.
Commercialized under a private brand by its partners like Canada Post,
Clic.net’s products and services are used by more than 900 Canadian merchants.
This makes Clic.net the first ASP (“Application Service Provider”) e-commerce
solution provider in Canada. Its e-commerce solution is the only one on the
market to integrate Canada Post’s shipping technologies and Fortune 1000’s
accounting technologies. 45 professionals specialized in IT are working for
Clic.net in its Montreal and Québec City offices.

ABOUT CANADA POST

Canada Post is Canada’s leader in physical and electronic delivery
solutions, offering a full range of cost-efficient distribution services for
SMB’s. with choices of speed, features and extra options. Canada Post provides
safe secure deliveries to all addresses in Canada and to destinations all over
the world. Canada Post serves more than 30 million Canadians at some
13 million addresses, and nearly one million Canadian companies. The company
was incorporated in 1981 and employs more than 50,000 people; its revenues
exceeded $5,6 billion (Canadian) in 1999/2000.

Details

ClearCommerce SafeDebit

NYCE Corp., one of the leading electronic payments companies in the United States, and ClearCommerce Corp., a provider of transaction management software for e-commerce infrastructure, announced they have signed an agreement that will expand the growth of SafeDebit. As part of the agreement, Internet merchants that use ClearCommerce’s transaction processing engine will be offered the capability to accept the new SafeDebit cards for payment. This agreement will help further SafeDebit card acceptance at participating retailers, which in turn, will add value to the efforts of the card issuing financial service community and open new channels for SafeDebit users. NYCE-innovated SafeDebit is the first convenient and portable way to make PIN (personal identification number) secured debit purchases on the Internet from any standard PC with a CD-ROM drive. It is also the only real-time PIN-based debit Internet payment method that does not require consumers to install special hardware. Under terms of the agreement, SafeDebit will be included as part of the ClearCommerce(R) Engine.

“Offering the benefits of SafeDebit Internet transactions to our worldwide merchant base is another step forward for ClearCommerce in our efforts to make online retailing as secure as possible,” said Robert Lynch, president and chief executive officer of ClearCommerce. “We’re known for providing leading-edge enhanced fraud protection for merchants, and working with NYCE to add SafeDebit is an enhancement that we anticipate will be well-received by our merchants.” Building on the successful evolution of real-time payments technology, SafeDebit works just like an ATM card for the Internet, allowing consumers to make PIN-secured purchases with funds withdrawn directly from their checking accounts. And just like an ATM card, the SafeDebit card holds consumer information in encrypted and embedded format. The data is passed via the Internet directly to existing secure online debit networks and financial institutions for authorization and settlement – the industry’s most reliable and secure technology infrastructure. As such, cardholder and transaction data is treated as securely as the billions of ATM and debit point-of-sale transactions that are made each year.

“SafeDebit was designed to facilitate convenient, efficient and secure Internet purchase transactions, particularly for fraud-wary consumers or those seeking an alternative to credit cards,” said Paul Turgeon, senior vice president with NYCE. “We’re glad that NYCE innovation has contributed to ClearCommerce’s decision to choose SafeDebit to help support its rapidly expanding e-commerce infrastructure.” The ClearCommerce Engine capabilities include: real-time transaction processing with credit card processors, fraud analysis and protection, business reports for merchants, storefront integration, application programming interfaces (APIs) to businesses’ existing ERP or inventory systems and shipping and tax calculation.

About Clear Commerce

Austin, Texas-based ClearCommerce is a provider of e-commerce transaction software and services for enterprises and Commerce Service Providers, including Apple Computer, Chase Merchant Services, PETsMART.com and EDS. ClearCommerce provides transaction management technology directly and indirectly through Commerce Service Providers for more than 40,000 merchants worldwide. Features of ClearCommerce software include real-time credit card processing and Internet fraud protection, as well as online reports, storefront integration, back-end integration, shipping/tax calculation and delivery of digital merchandise. For more information, please visit [www.clearcommerce.com][1].

About NYCE Corp.

NYCE Corporation is one of the leading electronic payments companies in the United States, providing financial institutions and retailers with shared network services for automated teller machines (ATMs), on-line debit point-of-sale (POS) and emerging real-time payment solutions. The company also provides processing services that support ATM management and monitoring services, as well as debit card issuance and authorization solutions. Through a long-standing commitment to product innovation, NYCE has established itself as a front-runner in real-time person-to-person (P2P) payment services and PIN-secured Internet debit payment solutions. Comprising 2,400 financial institution and retail ATM deployer participants, the NYCE Network processes nearly 93 million transactions per month while servicing more than 47 million cardholders through 44,000 NYCE-branded ATMs and 250,000 POS locations. NYCE Corporation is headquartered in Woodcliff Lake, NJ, and can be found online at [www.nyce.net][2].

[1]: http://www.clearcommerce.com/
[2]: http://www.nyce.net/

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SOLSTICE PROJECT

Oasis Technology, Silverline’s CIT
ePayments Division, Giesecke & Devrient, Smart Chip Technologies Inc.,
Ingenico and Cardis announced the formation of an alliance to develop
and market an Internet capable, multi-application smart card payment suite.
Under the project name Solstice, the members will integrate EMV (Europay,
MasterCard, Visa) card payments with loyalty programs and micropayments on a
single microchip. The payment suite also includes merchant, acquiring,
issuing and settlement systems for the physical, virtual, and mobile worlds.

Market analysis and consumer feedback from smart card trials and programs
around the world, point to the benefits consumers see in having one card
combining all their key banking and merchant relationships. In addition,
consumers demand a more secure platform to enable them to confidently
transact with the same card in both the physical and virtual worlds. This is
only possible on a multiple application smart card. It is this collective
analysis, shared vision, and combined expertise that brought these six
companies together in this initiative.

The formation of the alliance is timed to coincide with the imminent rollout
of EMV implementations that will result in the replacement of magnetic
stripe cards with industry standard hybrid chip and striped credit cards.
In addition to much stronger security and authentication, the product suite
will provide opportunities for banks, card issuers, acquirers, major
retailers and service providers to offer cardholders and merchants enhanced
features such as traditional payments linked to loyalty and micropayments.
The card will be designed for use at physical locations, online storefronts
and with mobile devices.

Collectively, the alliance members hold several patents for microchip-based
functions, making the new card one of the first smart cards to house all of
the functionality on the chip. Oasis will provide software to facilitate
merchant and card accounting, switching and settlement in addition to a
virtual credit card. Giesecke & Devrient will provide its smart card,
including embedding and fulfillment; Public Key Infrastructure (PKI) card
applications, security modules and microprocessing knowledge, . Silverline’s
CIT ePayments Division will provide PKI security server expertise,
on/offshore development, systems integration and implementation services.
Smart Chip Technologies will provide its patented multi-platform smart chip
loyalty application and Cardis will provide the micropayments engine
capability. Ingenico will provide point-of-sale (POS) devices and support
systems.

“Consumers are demanding a single secure card for all payment values and
loyalty applications that can seamlessly function in both the physical and
virtual worlds,” explained Ashraf Dimitri, president and CEO of Oasis
Technology Ltd. “Solstice provides consumers with a variety of payment

options including micropayments ­ vital to opening the market for digital
content providers.”

“These six companies are committed to the development of a true next
generation smart card offering the most sophisticated levels of security,
consumer payment options and loyalty rewards,” added James Frye, president
of Giesecke & Devrient, Card Systems, United States and Canada. “The pace
of technology change and the complexities of integration means Solstice will
reduce risks and future proof solutions in the market, so that systems
operators and merchants can focus on their core businesses.”

The alliance members will initially target North American banks, card
issuers and acquirers and the card associations before expanding their reach
globally. The new card will also be marketed to airlines, retailers, gas
chains, quick service restaurants, and Internet digital content providers.

About The Alliance

The alliance is comprised of six companies

Oasis Technology Ltd is a leading provider of software to facilitate
payments any time, any place on any device. Oasis is the only company
providing payment software for every step of the transaction process for
financial institutions, retailers, card associations or any business focused
on payments. www.oasis-technology.com

Silverline [NYSE SLT] is an international software development and
integration services firm, with over 2,600 software professionals worldwide.
Silverline provides a comprehensive set of eBusiness consulting and IT
services, including strategic consulting, creative design, technology
integration and implementation, as well as management and maintenance of
Internet and legacy applications. CIT, the ePayment division of Silverline,
provides end-to-end solutions and systems integration for ePayments;
electronic banking service delivery for the real, virtual and mobile worlds
of commerce; payment and loyalty based smart card solutions; Public Key
Infrastructure (PKI) security and implementation and professional services
associated with these offerings. www.silverline.com

Giesecke & Devrient (G&D) is an internationally operating technology group.
With nearly 150 years of history, the Giesecke & Devrient of today upholds
their tradition as a trusted leading supplier of banknotes and security
documents; banknote, security paper and currency automation systems; as well
as cards, components and complete multifunctional Smart Card systems for
electronic payments and telecommunications. www.gdai.com

Smart Chip Technologies [OTCBB SCTN] is an end-to-end loyalty and
cause-marketing program solutions provider. SCTN licenses its patented
e-llegiance multi-platform smart chip loyalty application for smart cards
and smart devices, and POS terminals. SCTN also provides complete loyalty
program management, transaction processing, and accounting services through
its LoyaltyCentral software and back office operation. www.sctn.com

Cardis is an innovation and licensing company based in Amsterdam, The
Netherlands. Cardis specializes in advanced smart card payment systems and
has a portfolio of patented innovations. www.sidrac.com

Ingenico Group is the World’s No. 1 supplier of secure transaction systems.
It designs and produces terminals and systems for electronic payment.
Ingenico has invested heavily in Research and Development to achieve
technological advances in both hardware and software, which have greatly
contributed to setting new standards in the industry.
www.ingenico.fr

Details

Oberthur Nabs Legaspi

Oberthur Card Systems of America named Leo Legaspi director of business development for its wireless and e-business smart card divisions, where he will develop new partnerships and marketing strategies.

Legaspi’s career in telecom and consulting spans 17 years. He was a pioneer in the effort to develop the new CDMA standard for smart cards, an initiative that resulted in significant potential new revenue for the smart card industry overall.

“Leo is well-respected within the smart card community, bringing extensive telecom technology expertise as well as personal contacts with developers and industry leaders,” noted Thierry Burgess, Executive Vice President of Sales & Marketing for the American division of Oberthur Card Systems. “He will be instrumental in significantly expanding our market share in the wireless and e-business smart card arena in the Americas.”

Most recently, Legaspi led wireless business development for Gemplus. He also has held strategic planning and marketing positions at NYNEX where he introduced SIM technology for smart cards into the telecom market and was involved in NYNEX’s entry into broadband entertainment and information services using MMDS (wireless cable) technology.

Legaspi serves as chairman of the Telecommunications Advocacy Committee, Smart Card Alliance and was vice-chairman of the Smart Card Forum Telephony Working Group. He has written for various technology publications and holds a master’s in professional studies, Interactive Telecommunications Program from the Tisch School at New York University and an MBA in marketing from Fordham University.

About Oberthur Card Systems

Oberthur Card Systems (Paris Stock Exchange – Code SICOVAM 12413), a global leader and the innovator in the smart card industry, is shaping the future by offering the ultimate in SIM, WAP, 3G (IMT-2000/UMTS), e-wallet technologies & Internet-based card management services coupled with a firm commitment to open standards.

Championing EMV migration, Oberthur is the world’s #1 supplier of MasterCard and Visa cards, #1 in banking, e-commerce, m-commerce and pay-TV, Oberthur is also the #1 in Java(TM) and GSM technologies.

Oberthur Card Systems has an international reach ensured by 30 sales offices and 20 manufacturing sites across the five continents. Oberthur Card Systems had sales of 451.1 million Euros in 2000.

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LATE CHARGES LAW

The Korean government announced this week it will cap interest rates for
delayed payment of loans to credit card companies and other financial
institutions to less than 1.5 to 1.7 times the normal rate. The Ministry of
Finance and Economy said the new law, which takes effect in July, is aimed at
credit card issuers charging interest rates of 25% to 29% on late payments.
The ministry is also considering limiting interest rates on delayed
payments in
relation to the duration and amount of the delayed payment. The revision of
the
borrower protection bill is expected to pass the National Assembly’s
extraordinary session in June and take effect in July.

Details