Visa International announced that its member financial institutions have
42 million Visa-branded smart cards worldwide.
Europe continues to dominate Visa smart card growth with some 34 million
followed by Asia Pacific with 6 million. Other regions, including the U.S.,
Latin America, Central and Eastern Europe, Middle East and Africa, bring the
total number of Visa branded smart cards to 42 million.
Gaylon Howe, executive vice president, Consumer Product Platforms at Visa
International, said “When we last audited our smart card figures two years
we had 23 million smart cards worldwide. We have now nearly doubled that
and the pace of growth will only accelerate as more financial institutions
begin to use chip technology.”
Smart cards – chip-based payment cards – can provide users with a variety of
new services and higher levels of security. They are a key lever in Visa’s
of enabling u-commerce – or universal commerce – the ability to conduct
commerce anywhere, anytime and over any type of device.
Visa has introduced a number of major initiatives to support member banks that
plan to launch smart card programs. In the Visa EU region, Visa has committed
to investing 168 million euros (US$151 million) to accelerate the introduction
of chip-card technology in its market. In the U.S., Visa USA has launched its
smart Visa program to enable banks to offer added security, utility and
convenience to consumers and businesses. Three US banks, First USA, Fleet
Boston and Providian Financial, are now issuing the new smart cards.
At the same time, banks are being offered substantial discounts on the cost of
introducing chip technology as a result of special deals negotiated by Visa
with global vendors and chip manufacturers. This effort includes new Open
Platform multi-application smart cards costing less than US$3 each as well as
discounts on both front and back end system components.
“While most of the Visa smart cards today are single application cards,
such as
credit or debit cards, there is growing demand for cards which are able to
perform multiple functions and provide greater convenience and utility to the
cardholder,” Howe said. “We have been working with major vendors to bring down
the cost of these cards and the systems that support them.”
Visa is the world’s leading payments brand and the largest payments system
worldwide. Visa-processed more than US$1.8 trillion in sales volume in 2000,
and Visa cards are accepted at over 21 million physical locations around the
world. The Visa organization plays a pivotal role in advancing new payment
products and technologies to benefit its 21,000 member financial institutions
and their cardholders. Visa’s Internet Address is



NCR Corporation has announced
a $1.5 million deal with the Tianjin Branch of the Agricultural Bank of China.
The order involves the purchase of NCR’s Personas 85 and Personas 74 machines
and is further evidence of NCR’s dominant position in the rapidly growing
self-service market in China.

Personas 85 is a full function exterior Self-Service TouchPoint(TM),
providing a range of services such as dispensing cash, cashing checks, paying
bills, account inquiries, passbook and document printing.

Personas 74 is an interior ATM which, in addition to dispensing cash,
provides services such as account transactions and inquiries. In addition to
offering banks a convenient method of performing activities traditionally
handled by the teller, there is a clear opportunity for generating additional
revenue by dispensing non-cash items such as stamps, tickets and coupons.

This latest deal follows hard on the heels of three significant
announcements in 2000. In November, NCR confirmed

* a major $14 million deal with the Bank of China, which represented the
lion’s share of an ATM bulk-purchase order and strengthened NCR’s
position as the lead supplier to the bank

* the purchase of 100 NCR Self-Service TouchPoints by China Construction
Bank in Guangdong, enabling the bank to expand geographical coverage

* a further $2 million plus contract with the Beijing branch of
Industrial and Commercial Bank of China (ICBC), which included the
purchase of NT-ready Personas 75 and Personas 85 machines.

Peter Zee, NCR’s vice president of Greater China Area, Financial Solutions
Division, said, “We continue to expand market share in the Greater China area,
building on our traditional strength in self-service solutions. In China
itself, our business has benefited from increased investment in self-service
solutions by large local banks in preparation for China’s entry into the World
Trade Organization. NCR is proud of the trust our customers put in the
company in making us the leading supplier of ATMs in China.”

About NCR Corporation

NCR Corporation (NYSE NCR) is a leader in providing Relationship
Technology(TM) solutions to customers worldwide in the retail, financial,
communications, manufacturing, travel and transportation, and insurance
markets. NCR’s Relationship Technology solutions include privacy-enabled
Teradata(R) warehouses and customer relationship management (CRM)
applications, store automation and automated teller machines (ATMs). The
company’s business solutions are built on the foundation of its long-
established industry knowledge and consulting expertise, value-adding
software, global customer support services, a complete line of consumable and
media products, and leading edge hardware technology. NCR employs 32,900 in
more than 100 countries, and is a component stock of the Standard & Poor’s 500



724 Solutions Inc., a premier provider of
secure mobile commerce application software, announced it is cooperating
with Nokia Networks, the infrastructure arm of Nokia, to market and deploy the
Nokia Activ Signet Solution with the 724 Solutions Financial Services

By combining 724 Solutions FSP with the Nokia Activ Signet Solution, 724
Solutions will extend its capability of enabling “anytime, anywhere” access to
trusted banking and investment services by offering further digital-signing
capabilities via mobile devices on banking and business-to-business
transactions that demand high security. For example, with recent legislation
passed in important markets, such as United States, Europe and Singapore, many
contracts signed by digital signature are legally binding, making digital
signatures the Internet equivalent of traditional hand-written signatures,
thus expanding the realm of services that may be offered via mobile handsets.
The Nokia Activ Signet Solution is a recently introduced solution for
secure mobile e-commerce that will meet with corporate needs by enabling
certificate and digital signature validation and online certificate
enrollment. The solution will be based on open standards, such as the Wireless
Public Key Infrastructure (PKI), on which the security aspects of the WAP 1.2
specification is built. The Nokia Activ Signet Solution will support WAP 1.2
compatible phones which will include Wireless Identity Module (WIM), the
tamper-resistant module for private key storage and crypto operations.

“Our relationship with Nokia reinforces our commitment to work closely
with the leading manufacturers and security providers,” said Alistair Rennie,
General Manager, Applications 724 Solutions Inc. “Nokia is clearly an
important player on mobile e-commerce solutions. Working with Nokia enables us
to bring to the financial services industry further flexibility and broad
interoperability of an advanced range of security solutions.”

Jukka Riivari, Director, Sales and Marketing, Corporate, Nokia Networks,
states “We are delighted to be working with companies, such as 724 Solutions,
on mobile financial services solutions. The Nokia Active Signet Solution will
provide easy to use mobile e-commerce solutions that will be essential to the
faster adaptation of new services. With 724 Solutions, we will be able give
customers quick access to turnkey solutions when they want to undertake a new
range of wireless transactions, such as large-value funds transfer, loan and
mortgage agreements, and credit card applications.”
724 Solutions will work together with Nokia to enable its customers using
the FSP to deploy 724 Solutions’ m-banking and m-brokerage offerings in
conjunction with Nokia products.

About 724 Solutions Inc

724 Solutions Inc. is a leading global provider of Internet
infrastructure software that enables the delivery of secure mobile transaction
solutions across a wide range of Internet-enabled devices. The 724 Solutions
suite of products and services enables companies to monetize the Internet by

building, deploying and integrating personalized and secure mobile commerce
and lifestyle applications. The company also offers end-to-end customer
support through its global application hosting and contact center services.
724 Solutions’ customers have a combined customer base totaling more than 270
million consumers worldwide. With dual headquarters in Toronto, Canada, and
Austin, Texas, the company has development and sales offices around the world,
including Australia, Barbados, Finland, France, Germany, Japan, the
Netherlands, Switzerland, the United Kingdom and the United States. 724
Solutions’ common shares are listed on the NASDAQ National Market (SVNX) and
The Toronto Stock Exchange (SVN). For additional information visit

About Nokia

Nokia is the world leader in mobile communications. Backed by its

experience, innovation, user-friendliness and secure solutions, the company
has become the leading supplier of mobile phones and a leading supplier of
mobile, fixed and IP networks. By adding mobility to the Internet, Nokia
creates new opportunities for companies and further enriches the daily lives
of people.



De La Rue PLC announced this week it will buy Ascom Business Unit Cash
Handling Belgium from telecommunications and service automation company
Ascom Autelca AG for EUR622,000. De La Rue is the world’s largest
commercial security printer and paper maker, involved in the production of
over 150 national currencies and a wide range of security documents such as
stamps and vouchers as well as brand protection.



Global Payments Inc. announced that it has closed a transaction with
Canadian Imperial Bank
of Commerce, originally announced on November 9, 2000. Global has
acquired certain net assets of the merchant acquiring business of CIBC and has
formed a ten-year marketing alliance with CIBC to offer VISA credit and debit
card payment products and services to merchants in Canada. The acquisition
and the related marketing alliance significantly broaden Global’s scope and
presence in North America and provide customers served by CIBC’s merchant
acquiring business with an array of additional payment solutions. The
combined operations of Global and CIBC’s Canadian business include processing
2.4 billion transactions annually from approximately 915,000 merchant
locations in North America. Annual revenue from CIBC’s Canadian business was
$92.0 million for the year ended October 31, 2000.

Under the terms of the purchase agreement, Global has issued 9,764,623
shares of common stock to CIBC, providing CIBC with a 26.25% ownership
position in Global Payments.

“The commencement of this partnership is an exciting milestone for Global
Payments,” said President and CEO Paul R. Garcia. “We enthusiastically
anticipate the opportunities this relationship affords all of our
constituencies,” he said.

David Marshall, Vice Chairman of CIBC, said, “We are very pleased to be
working with Global Payments, and we are convinced that our alliance will
yield numerous benefits for our North American customer base.”

Global Payments Inc. is a leading provider of electronic transaction
processing services to merchants, Independent Sales Organizations (ISOs),
financial institutions, government agencies and multi-national corporations.
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.



OTI announced the launch of its Saturn Reader – the first fully integrated
card reader to accept both ISO 7816 contact cards and ISO 14443 Type A, B, and
D contactless cards, including the Mifare platform — at the CeBIT Trade Fair
in Hanover, Germany. The Saturn was developed in response to customers
wishing to support multiple applications and upgrade from existing smart card
implementations to the secure, multi-application contactless-based solution
offered by OTI.

For example, in a mass-transit implementation, a transit authority with
single-application contactless ASIC smart cards may wish to offer a
contactless smart card with multiple applications such as a loyalty program
and a payment platform supported by financial institutions. Rather than incur
the costs of replacing the entire system at once, the transit authority can
exchange its current smart card readers for the Saturn, which can accept both
types of cards. Existing cards will be seamlessly accepted by the new reader
while the transit authority begins a gradual card replacement program to move
customers to the multi-function contactless smart card.

The user-friendly Saturn reader, based on OTI’s revolutionary EYECON
technology platform, is a multi-function contact and contactless smart card
reader designed to interface with either a PC or point-of-sale (POS) terminal.
The Saturn’s software resides on a flash memory card to allow rapid,
trouble-free upgrades after installation. A combination of technology and
software protocols maintains a high level of security during the transaction

“Our Saturn line of readers offers a single user-friendly interface to
multiple smart card operations, meeting the existing and future needs of our
customers,” said Oded Bashan, President and CEO of OTI. “As the first reader
in the industry to provide multiple ISO-standard contact and contactless
functionalities, we are providing the ultimate user solution to our customers,
enabling them to move from existing systems to a preferred, more advanced

The Saturn’s multipurpose, compact design maximizes valuable counter space
during the conversion process. Customers with contactless smart cards merely
place the card into the recessed resting pad, while contact cards are inserted
into the horizontal card slot. Development tools are available to integrate
the Saturn into a variety of environments. The Saturn can also be combined
with contactless solutions from OTI to offer the ultimate in smart card
functionality. The Saturn Reader will be demonstrated at OTI’s booth at CeBIT
2001, March 22-28 in Hall 23, Booth 53B.

About OTI

Established in 1990, OTI (On Track Innovations) designs and develops
contactless microprocessor-based smart card technology to address the needs of
a wide variety of markets. Applications developed by OTI include product

solutions for mass transit, parking, gas management systems, loyalty schemes,
ID and secure campuses. OTI has regional offices in the US, Europe, Asia
Pacific, and Africa to market and support its products. The company was
awarded the prestigious ESCAT Award for smart card innovation in both 1998 and


south KOREA

Poised to tap Korea’s
burgeoning consumer credit market
as part of its global expansion, Fair, Isaac and Company, Inc. said
it will provide a range of products and
services to one of Korea’s leading credit card issuers.

Seoul-based Samsung Card Co. Ltd., a unit of the Samsung Group, will
a number of Fair, Isaac decision technology
solutions to help establish long-term, personalized relationships with its
eight million credit card customers. The technology will
also help Samsung rapidly expand its customer base in this growing market.
Korea currently has about 20 million credit card holders, and this number
is expected to grow rapidly as a result of
government incentives, changes in consumer spending habits of Koreans and the
absence of a check payment system. Along with
Fair, Isaac, Samsung is betting heavily that credit card applications and
will expand as non-cash payment methods become
more commonplace.

Tom Grudnowski, Fair, Isaac’s CEO, said recently, “We are extremely
that Samsung has elected to use Fair, Isaac’s
technology to create really meaningful relationships with its customers in
Korea. We are very aware of the special needs of
emerging consumer credit markets and the importance of developing loyalty and
stepped-up activity with consumers who have
little familiarity with credit card use.”

Hyungseok Lee, Strategic Information Team Leader at Samsung, added, “For
Samsung, our success in Korea will depend
largely on our ability to create appropriate services and convenience for our
customers. We chose to work with Fair, Isaac
because of the company’s global reputation in helping credit grantors better
understand and service their customers. Fair, Isaac
enables us to effectively measure many factors about our consumers right at
beginning of our relationship. That means we are
better able to tailor product offers to specific needs — an ability that is
core to our long-term success.”

As part of the agreement, Samsung will utilize Fair, Isaac’s
StrategyWare(R) decision engine for account origination and
predictive models to create precise, customer-appropriate offers when accounts
are opened. StrategyWare provides risk
managers with an ability to design, test and execute complex decision
strategies without relying on programming support.

This new agreement extends an already successful and long-term
between Samsung and Fair, Isaac, which
includes the use of the TRIAD(TM) adaptive control system for customer and
account management, behavior scoring models
and other Fair, Isaac products.

About Fair, Isaac

Fair, Isaac and Company is a global provider of customer analytics and
decision technology. Widely recognized for its
pioneering work in credit scoring, Fair, Isaac revolutionized the way lending
decisions are made. Today the company helps

clients in multiple industries increase the value of customer relationships.
Fair, Isaac has made the Forbes list of the top 200 U.S.
small companies eight times in the last nine years.


south KOREA

Samsung Card Co. announced it will issue a corporate card which can be
electronically certified to enable Internet transactions. The company said
it has signed a partnership deal with the Korea Information Certificate
Authority, a state-invested electronic certificate
institution, and Coregate, an electronic commerce security provider, for
the new corporate card.



Sydney-based Cards etc,
developer of Arterium — the transaction infrastructure management system for
multi-application smart cards — has finalised a funding round which has
provided a $16 million cash injection.

Citicorp Equity Capital successfully acted as lead manager for the
raising. The funding round involved an additional investment from existing
shareholders Citigroup and First Data Corp..

Michael Walters, CEO of Cards etc, said the success of the raising was a
ringing endorsement of the Cards etc business proposition and that it would
support the company’s global expansion plans.

“Over the past 12 months, we have more than doubled in size and our
current business plan envisages similar growth over the next 12-24 months,” he
said. “We plan to open a number of new offices to help us more effectively
service our global clients. We will also continue to invest heavily in our
Sydney-based research and development centre.
“Given some of the difficulties experienced in the broader technology
sector, it is pleasing to be making this announcement. We continue to work to
a sound business plan, we are continuing all our expansion programs, we are
hiring new staff and we are growing our business internationally.”
Paul McClean, Managing Director of Citicorp’s local private equity
business, said the new investment was based on Cards etc’s success in
implementing a growth-focussed business plan and on the strong prospects for
the smart card sector.

“Cards etc continues to meet its objectives as it aggressively expands
internationally,” he said. “The company is well positioned in a growth
market, and Citigroup is continuing to work with management to support growth
plans and to accelerate a number of business opportunities.”

Global e-commerce and payment services company First Data, which uses the
Arterium technology for management of multi-application smart cards, echoed
the opportunities available and confidence in the future success of Cards
etc., according to First Data President and COO Charlie Fote. First Data was
one of the first processors in the world to have an end-to-end solution with
ability to personalise, process and deliver multi-applications smart cards.
Mr. Walters said the smart card market had experienced substantial growth
over the past 12 months and that quality opportunities had emerged in key
markets throughout the world.

“Arterium has gained broad market acceptance,” he said. “We are winning
new business regularly and we have a strong, well developed sales pipeline
which includes opportunities in Western Europe, East Asia, Australia and Latin
America. Importantly the United States market continues to expand providing a
solid foundation for growth.”

About Cards etc

Cards etc specialises in the development of transaction infrastructure
management software focussing on lifecycle, relationship, information and
connectivity management. Customers include large financial,

telecommunications, Internet, Government, transit and travel organizations
deploying and managing multi-application smart card, e-commerce and related
technologies. For more information, visit http// .

About Citicorp Capital Asia
Citicorp Equity Capital represents the Australasian Private Equity arm of
Citigroup’s Asia Pacific Private Equity investment business. Citigroup is one
or the world’s largest financial services group’s and the world’s most global

The establishment of long-term relationships and building value is a key
goal together with the provision of a wealth of institutional experience to
investee companies. The Private Equity group acts as a true business partner
offering companies access to Citigroup’s unparalleled global network which
continues to be a winning combination.

About First Data Corp.

Atlanta-based First Data Corp. (NYSE FDC) is a global leader in

electronic commerce and payment services. Serving more than two 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.



Diversified Financial Network Inc is planning to issue credit cards through
Union Bank of the Philippines. The company will require applicants to open
an on-line account with DFNN once they are approved by the bank for the
credit card. DFNN will reward cardholders until June 30 with DFNN shares on
the basis of one share for every 1,000 pesos spent on their cards, subject
to a maximum of 100 shares.



The Philippine Long Distance Telephone Company e-commerce unit announced
this week it will spend an initial 500 million pesos to set up 23,000 POS
terminals for the ‘PLDT VISA Cash’ card. The terminals are due to be
completely installed over a three-year period. The new cash card is a smart
card, stored-value card that will soon be used in all the existing railway
systems in the country.



Gemplus of France is building Asian smart card production center in Tianjin
at a cost of 100 million yuan. Gemplus Tianjin New Technology Co. signed a
contract on a land-use right involving 4.86 hectares with Tianjin New
Technology Industrial Park. The new factory is expected to be operational
by 2002 with an annual output value of 1 billion yuan.