Austrian Olympic Card

IDT Corporation is proud to announce that IDT’s European subsidiary, IDT Europe B.V.B.A., has been selected by the Austrian Olympic Committee as the official carrier and prepaid phone card supplier for Austria in the 2000 Olympics to be held in Sydney, Australia.

IDT is a leading multinational carrier, telephone company and Internet Service Provider.

“It’s great. I feel like we’ve just won an Olympic Gold Medal in telecommunications,” said Howard Jonas, IDT’s Chairman and CEO. “Clearly, this means that the European community recognizes IDT as one of the leading telecommunications companies on the continent.”

As part of its official duties, IDT will produce and supply the Austrian Olympic Committee with commemorative prepaid phone cards bearing the official seal of the Austrian Olympic Committee and both the Sydney 2000 and IDT logos. The phone cards will be sold by the Austrian Olympic Committee throughout Austria and southern Germany.

“Since establishing IDT Europe two years ago, we’ve worked relentlessly at building out our network and providing the highest quality and most reliable communications services to the people of Europe,” said Yoav Krill, IDT’s Senior Vice President and Managing Director for Europe.

The phone cards will be made available in varying denominations of the Austrian Shilling, and may be used throughout Europe and Australia to call just about anywhere in the world.

In July of this year, IDT Europe announced that its Unity card, the Company’s flagship pan-European calling card product, was expanding into four additional countries, including Belgium, Ireland, Sweden and Spain. This expansion made IDT’s prepaid phone cards available in nine European countries and will enable it to continue to be one of the most successful prepaid calling cards in the European market.

“IDT is very pleased with its success in the European marketplace, and we hope to achieve similar success throughout the world,” said Jim Courter, IDT President and Vice Chairman. “Our goal is to be the global leader in telecommunications.”

IDT Europe B.V.B.A., through its subsidiaries and affiliates, has offices in nine European countries and provides its customers with competitively-priced wholesale carrier services and retail products. It also operates a network of data center operations in major European business centers and has announced plans to begin operations in Milan and Stockholm later this year. IDT is a leading facilities-based multinational carrier that combines its position as an international telecommunications operator with its experience as an Internet service provider to provide a broad range of telecommunications services to its wholesale and retail customers worldwide.

Through its own telecommunications backbone and network infrastructure IDT provides its customers with integrated and competitively priced international and domestic long distance, pre-paid calling cards, Internet access and Digital Subscriber Line (DSL) service. The Company’s Ventures division is developing several innovative telecom and Internet related businesses.

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Moneybox Hits 1000

Moneybox Corporation Ltd, the UK market leader in convenience cash machines or Automated Teller Machines announced that it has passed a major corporate milestone by installing its 1000th ATM.

The 1000th ATM has been installed in an independent convenience store in West Hampstead, which is situated close to a mainline train station and underground station to serve obvious customer demand. Up until now, people have regularly entered this particular store and asked for the location of the nearest bank ATM, to be told that they will have to walk for 10 minutes to get cash.

Moneybox is now one of the top 10 largest ATM networks in the UK – with more ATMs available than many banks and building societies. The Company also reported that since its launch 14 months ago, over 6 million transactions have now taken place through its ATMs.

Commenting on this announcement, Paul Stanley, Managing Director of Moneybox, said: “Passing the 1000th ATM mark by the summer of 2000 has always been our primary target and we are delighted to have achieved it. With the extent and range of our network, coupled with our LINK membership, Moneybox has created a solid platform from which to grow well beyond the original targets set, and we intend to install at least another 1,000 ATMs.

“In addition we have been extremely sensitive to ensure that we build a viable long-term business and our sites enjoy high levels of transactions volumes. Going forward we believe there is considerable capacity in the market not only for ATMs, but also for the related services and products available as a result of the increased functionality of the technology. We will be making further announcements about these developments in the near future.”

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Oberthur Macau

Oberthur Card Systems, one of the world?s leading suppliers of smart cards, Visa & MasterCard cards, announced last week its success in winning a contract to supply Companhia de Telecomunicações de Macau S.A.R.L (CTM) with SIMphonIC 32K cards for use in Macau Special Administrative Region of China.

In a record 3-month application development project – from inception to launch – Oberthur has delivered the first SIM toolkit and Mobile Banking application in Macau. Oberthur?s award-winning SIMphonIC card is the world?s first Java-powered SIM Toolkit card and the first in the market to comply with the industry recognized standards. By using the large capacity and efficient memory allocation provided by the 32K version tailored specifically to CTM, multi-applications and value-added services including mobile banking, wireless information, stock and margin trading services can be delivered securely to subscribers? mobile phones.

Oberthur?s card solution will enable CTM?s partnering banks to link a full portfolio of banking services to their customers in Macau.

This contract highlights Oberthur?s lead in introducing new mobile commerce initiatives to the Asian market, which has become the largest growth market for mobile commerce with mobile subscriptions reaching over 100 million users. It is the latest in a series of successful launches in the region including:

· Mobile banking and stock trading services through Cable & Wireless HKT,

· Mobile betting services with the Hong Kong Jockey Club,

· Mobile stock trading in Taiwan through WAYIA,

· ?Information on demand? service in Singapore through Mobile One.

Oberthur Card Systems? General Manager in Hong Kong and Macau, Euan Tennant said, ?Thanks to Oberthur?s expertise in providing innovative mobile banking solutions, subscribers in China are now being offered the most sophisticated smart card technology available. This contract with CTM is testament to Oberthur?s position as the leading authority in mobile commerce and mobile banking and further strengthens our growing presence in Asia. The experience we have through setting up similar projects in Hong Kong ensures that Oberthur Card Systems is the only partner to offer tailor-made mobile banking solutions that could be delivered to market quickly and efficiently.?

About Oberthur Card Systems:

Oberthur Card Systems (Code SICOVAM 12413) is a global leader in the area of smart cards, specializing in the design and production of solutions based on microprocessor cards (smart cards), memory and magnetic stripe cards, as well as associated services: Personalization and Card Management. Oberthur has a large portfolio of products and offers solutions in the areas of banking, pay TV, mobile telecommunications, electronic commerce, security, health care, and transportation.

Number one supplier of VISA and MasterCard cards in the world, the company is also world leader in the development and marketing of solutions for mobile and electronic commerce. It is also the first global supplier of cards for pay TV. Firmly committed to open standards, Oberthur backs Java Card, Open Platform, MULTOS and Windows for Smart Cards, and it is the first supplier of Java cards.

Oberthur Card Systems employs more than 3,000 people worldwide. The international reach of Oberthur is ensured through 30 sales offices and 13 manufacturing sites around the world.

Internet sites: [http://www.oberthurusa.com][1] ; [http://www.oberthurcs.com][2]

About Companhia de Telecomunicações de Macau

Companhia de Telecomunicações de Macau S.A.R.L. (CTM) is a leading telecom operator in Macau and offers a full span of high-quality telecom services at competitive prices. Its comprehensive scope of services covers fixed telephone and mobile phone services, IDD and prepaid calling card services, Internet, e-commerce, on-line shopping, and many others. As an innovative company, CTM commits new investments on a continuous basis to improve the telecom infrastructure of Macau and meet the ever-changing demand of the local population for advanced communications services.

[1]: http://www.oberthurusa.com/
[2]: http://www.oberthurcs.com/

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eCharge CFO

eCharge Corporation, the global online payments company, announced that Douglas Fletcher has been promoted to chief financial officer. Mark Tremont, who previously served as CFO, remains as chief operating officer of eCharge Corp. as well as chairman of eCharge Bank.

Fletcher joined the company in earlier this year as vice president of finance after a 13-year career at Citigroup, most recently as managing director and general manager of the leasing division for the global equipment finance group in New York. Prior to joining Citibank, Fletcher was a group CFO at International Paper Company.

“In his short tenure at eCharge, Doug has provided excellent leadership and guidance to the finance team,” said Truett Tate, president and CEO of eCharge Corp. “His past experience in building a powerful business has led him to create many of the financial controls and disciplines needed to prepare eCharge for its aggressive global expansion.”

Fletcher is responsible for all financial functions including financial control and reporting, treasury and cash management, planning, and investor relations for eCharge Corp.

About eCharge Corporation

eCharge Corporation is a global payments company providing secure and convenient ways to make purchases online. The company’s products, eCharge(SM) Phone and eCharge(SM) Net Account, virtually eliminate fraud and can increase revenue for strategic partners worldwide. eCharge Phone enables the purchase of digital goods and services to be charged to the consumer’s phone bill. eCharge Net Account is an Internet purchasing solution offering consumers and merchants security and convenience not available in any other online payment method. Founded in 1997, and headquartered in Seattle, Wash., eCharge Corp. has offices in Vancouver, British Columbia; London and Tokyo. For more information go to [http://www.eCharge.com][1].

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

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Privacy Settlement

U.S. Bancorp confirmed Friday it has settled two complaints involving consumer privacy, including the settlement of a consolidated class action suit and an agreement with a multi-state task force of attorneys general. In regards to the class action settlement, U.S. Bancorp has agreed to provide a settlement fund of $3 million to pay potential claims and will also pay the first $500,000 of plaintiffs’ attorneys fees approved by the Court. If the settlement fund is not used in its entirety, the balance will go to the University of Minnesota Law School or to non-profit human services agencies. Claim forms were mailed this weekend to claimants who had U.S. Bank checking or credit card accounts with the bank prior to July 1999. Claim amounts will range from $25 to $400, with most claims to be settled at $50. Last summer U.S. Bank voluntarily settled the attorneys general lawsuit and agreed to contribute $4 million to charities or public bodies in Minnesota and other states where the bank conducts business. The Minnesota portion of the settlement ($2 million) was paid in the third quarter of 1999, with the balance of the funds, an additional $2 million, earmarked to be divided between the additional states. The attorneys general lawsuit was filed June 8, 1999 for allegedly releasing customers’ private banking information to a telemarketing company in exchange for a fee of $4 million plus a 22% commission on each sale. The suit also alleged that some of commissions were generated through bogus, unauthorized charges by CT-based MemberWorks, the telemarketing company involved. Minnesota alleged that U.S. Bank violated the FCRA and engaged in consumer fraud and deceptive advertising by providing the telemarketing vendor with such private information as: SSN numbers, account balances, transaction history, credit limits, credit insurance status, year to date finance charges, automated transactions authorized, credit card type/brand, number of credit cards, cash advance amount, behavior score, bankruptcy score, date of last payment, amount of last payment, date of last statement, and statement balance. (See CF Library 6/9/99)

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Internet Battle

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The online marketing battle between NextCard and Capital One continued during the week of August 21-27. According to the latest Nielsen/NetRatings survey, NextCard ranked as #4 and Capital One ranked as #9 among the top ten advertisers on the Internet for at-home surfers. NextCard reached 21.6% of the at-home audience by delivering 151 million ad impressions during the week measured. Capital One reached slightly more of the at-home audience, 22.2%, by delivering 71 million ad impressions or about half of NextCard’s ad volume. Meanwhile Capital One’s “How Fast do you want your credit decision?” banner ad ranked as #1 among at-home surfers and #2 among at-work users.

[1]: http://www.cardweb.com/ads/capitalone/bttrbgo1.gif

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SLMsoft China Deal

SLMsoft.com, Inc., a leading global provider of electronic financial transaction solutions for the e- commerce market, announced this weekend that it has closed an agreement with its long- standing client, Bank of China to provide BOC with debit card transaction management for local and international American Express clientele. SLMsoft.com’s current ATM service for BOC includes Visa, MasterCard, Diners Club and JCB customers.

Since 1996, BOC has been deploying SLMsoft.com’s ESP-Link FTS Financial Transaction Solutions application across its 15,000 locations in 400 regional centers to facilitate inter-branch settlement within the bank and provide connectivity to card networks. Approximately 70% of all foreign credit and debit card transactions in China are currently processed by BOC using SLMsoft.com’s technology.

Being selected to assist BOC in expanding their services highlights the Bank’s satisfaction with SLMsoft.com’s products and service. Moreover, it represents a strengthening of SLMsoft.com’s foothold in the world’s most populous marketplace, where demand for convenient, quality financial services and credit transactions is rapidly growing. China’s plans to join the World Trade Organization will open the doors for foreign banks to enter the Chinese finance field. SLMsoft.com’s software solutions, which meet stringent international standards and have already been localized for the financial services market in China, should play a significant role in the market’s evolution.

“We are very pleased to be able to further our mutually beneficial relationship with the Bank of China,” said Govin Misir, Chairman and CEO of SLMsoft.com. “Our customer-focused, transaction management platform makes financial transactions more convenient for users and helps reduce operating costs at the Bank. We are particularly gratified that this important client relies on us to provide ongoing and expanded e-financial services.”

The American Express debit cards in China make up one of the largest foreign debit transactions in that country. Previously the BOC routed American Express debit transactions to MasterCard International for processing. SLMsoft.com’s new solution allows the BOC to send these transactions directly to American Express for processing, which reduces the Bank’s interchange fees.

“We are very pleased with SLMsoft.com’s products and service,” said Mr. Lu Zhang of the Bank of China. “SLMsoft.com is a quality solutions provider and we look forward to continuing our expansion of their e-commerce solutions in the years to come.”

About Bank of China

As the most profitable bank in China, Bank of China is a full-service bank that does nearly all of the foreign currency related banking in China. Bank of China has over 15,000 locations in Mainland China, including branches and sub-branches and has approximately 200,000 employees. In addition, BOC has over 300 overseas locations and 12,000 employees. The Bank owns over 3,000 ATMs, has issued approximately eight million debit cards and four million credit cards, and has signed up 68,000 designated merchants.

About SLMsoft.com:

SLMsoft.com is a leading provider of end-to-end open system e-commerce solutions to financial institutions, governments, and healthcare organizations. Founded in 1986, SLMsoft.com delivers the world’s broadest array of electronic transaction management solutions to customers in 53 countries around the globe. SLMsoft.com provides all the software, services and infrastructure businesses need to offer complete B2B and B2C e-commerce services to their customers. The company is a single-source provider of in- house and outsourced solutions through its EC-street(TM) network of e-commerce products and services. The EC-street network includes Internet banking, ATM and kiosk networks and services, core banking systems, check imaging, telephone banking, electronic bill presentment and bill payment, point-of-sale and point-of-service management, debit and credit card solutions, web site design and hosting, and e-financial portal development. EC-street’s real-time connectivity is facilitated through SLMsoft.com’s ESP-Link(TM) middleware. The company has more than 620 employees in 22 offices worldwide.

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ECHO Lawsuit Update

Electronic Clearing House Inc. announced that on Aug. 21, 2000, the California Superior Court, County of Los Angeles, Central Judicial District, granted ECHO’s demurrers to four of the seven causes of action in a lawsuit filed against the company by Premiere Lifestyles International Corp. of Newhall, Calif. The surviving causes of action for alleged damages of $10 million include claims for breach of fiduciary duty, tortious interference with business relations and tortious interference with contract. Management believes the lawsuit is without merit and intends to defend against it vigorously.

A similar lawsuit was previously filed in Texas and subsequently withdrawn by the plaintiff upon filings of motions to dismiss by ECHO. The California lawsuit is currently in discovery and, based upon discovery to date, legal counsel representing ECHO has informed management that there does not appear to be sufficient facts to support or justify liability against the company. Legal counsel is conducting additional discovery and investigation.

Electronic Clearing House Inc. provides credit card processing, cash advance services, check guarantee, check verification, check conversion, inventory tracking and/or various Internet services to more than 41,000 retail merchants and U-Haul dealers across the nation. ECHO also designs, develops and integrates software and point-of-sale hardware that is utilized as credit card processing terminals, automated money order dispensers, inventory tracking devices and cash advance systems.

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HK VISA Business Card

Hong Kong’s Dao Heng Bank Group Limited unveiled this weekend the ‘Dao Heng VISA Business Card’. This is the first business card in Hong Kong that offers an annual fee waiver, corporate liability waiver, and employee card misuse coverage. Dao Heng says a recent survey by Hong Kong Productivity Council showed that Hong Kong SMEs are spending between HK$30,000 to HK$200,000 per month on business expenses. Currently there are between 30,000 and 40,000, out of the 290,000 SMEs in the territory, that have business or corporate cards. Dao Heng projects it will capture 20% of the market within the next two years. The bank also says it has more than 100 exclusive commercial merchants, including over 20 B2B merchants dealing with computers, office equipment, Internet and ASP services, and over 90 T&E merchants offering up to 50% discounts on a variety of leisure facilities and dining.

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Eurocard MasterPhone

eGlobe and Europay International have signed agreements to give Europay’s 243 million cardholders access to eGlobe’s ‘World Direct’ global telephone network and the ‘VoGo Unified’ messaging system. The move will give Europay International ‘Eurocard-MasterCard’ credit cardholders a global calling card enhancement. The service, to be called ‘MasterPhone’, will initially be implemented by Eurocard-MasterCard issuers in Europe. Later this fall, eGlobe will begin introducing its ‘VoGo Unified’ messaging system to all Europay member institutions. The ‘VoGo’ service will be available in 16 languages. Europay International has more than 9,000 member banks offering cards under the Eurocard-MasterCard, Maestro, Cirrus and eurocheque brands. eGlobe originates traffic in more than 100 territories and countries and terminates anywhere in the world.

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Wells Online

Wells Fargo & Co. and VerticalOne, a wholly owned subsidiary of S1 Corporation and the pioneer of personal account aggregation and transaction services, Thursday announced an agreement that will bring Wells Fargo’s more than two million online banking customers instant access to their account information, without the hassle of logging onto multiple Web sites. The new service will be available to consumers in the fourth quarter.

The new service will enable Wells Fargo to provide its online customers with a private and secure single point of access to all their investments, credit card and bank accounts, as well as travel and hotel reward programs and e-mail communications. Single sign-on will eliminate the time-consuming effort currently required to log onto multiple sites and remember numerous passwords. “Our Web-savvy customers with multiple online accounts are tired of having to log on to a myriad of sites to manage all of their financial and personal information,” said Catherine Graeber, senior vice president, Consumer Internet Services at Wells Fargo. “Wells Fargo recognizes the potential to provide the convenience of consolidating a customer’s financial information, without sacrificing security or privacy. VerticalOne, the industry pioneer, will provide us with the advanced technology to deliver this solution. This is the next stage in giving customers control over all their financial data with a single click of the mouse.”

Piper Jaffray analysts predict the number of consumers who use aggregated financial services will rise from approximately 800,000 in 2000 to nearly 4 million by 2002. Capitalizing on the growing trend of consumers seeking all their financial information in one place, Wells Fargo will provide added convenience to its customers all within a highly secure and private environment.

“Wells Fargo pioneered Internet banking while VerticalOne pioneered account aggregation, so it makes sense that our two companies would team up to bring this valuable new service to Wells Fargo customers to help them simplify their online lives,” said Gregg Freishtat, CEO of VerticalOne. “Account aggregation is such a powerful application on the Internet and we are excited to see how quickly it has taken off and how more and more financial institutions are embracing it.”

As the first major financial services company in the U.S. to launch Internet banking services in 1995, Wells Fargo blazed the trail for interactive tools and features for customers. Gomez Advisors and Nielsen/Net Ratings recently ranked Wells Fargo the top Internet bank in terms of market share of active online banking customers and total monthly Web site visitor count.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a $234 billion diversified financial services company providing banking, insurance, investments, mortgage and consumer finance services through 5,300 stores, its Internet site and other distribution channels across North America as well as internationally.

About VerticalOne Corporation

VerticalOne created the account aggregation space in October 1998 with the vision of offering consumers a greater level of convenience when accessing their personal account information online through a multitude of devices including PCs, Internet appliances and wireless devices. VerticalOne built the information infrastructure that empowers Internet destination sites to offer their online customers a single point-of-access to a wide variety of personal content and account information. With 20 sites deployed, VerticalOne continues to lead the industry in most live sites and greatest consumer adoption with over $2.4 billion in accounts being tracked through the VerticalOne service. VerticalOne’s Privacy Statement is certified by both TRUSTe(sm) and BBBOnLine(R), and the company is certified by Internet Security Systems (ISS) and VeriSign(TM). VerticalOne is a wholly owned subsidiary of S1 Corporation (Nasdaq: SONE). More information about VerticalOne can be obtained from the World Wide Web at [http://www.verticalone.com][1]

About S1 Corporation

S1 (Nasdaq: SONE) is today’s leading global provider of innovative Internet-based financial services solutions. S1 offers a broad range of applications that empower financial organizations to increase revenue, strengthen customer relationships and gain competitive advantage by meeting the evolving needs of their customers across various lines of business, market segments and delivery channels. Through its professional services organization, S1’s applications can be implemented in-house or outsourced to the S1 Data Center. Additional information about S1 is available at [http://www.s1.com][2].

[1]: http://www.verticalone.com/
[2]: http://www.s1.com/

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