APR VOLUME

Debit card volume is now growing by an annual rate of 45%, as “Gross Rupee Volume” (GRV) hit 17.8 billion rupees in April. Meanwhile, credit card GRV has declined at an annual rate of -12%, dipping in April to 49.3 billion rupees. After peaking at 64.4 billion rupees in October, credit card GRV has declined each month, in tandem with the global recession. Debit card GRV also peaked in October at 19.6 billion rupees, but rebounded significantly in April. According to the Reserve Bank of India, the number of credit card transactions declined 16% in April to 18.5 billion as the number of debit card transactions rose 43% year-on-year to 12.0 billion. At the end of April there were 24.4 million credit cards and 14.1 million debit cards in circulation.

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Triton Upgrades MiniMech Cash Dispenser

ATM provider Triton has joined forces with cash handling tech provider
Talaris to launch an extended warranty for Talaris’ “MiniMech.”
The “MiniMech” cash dispenser includes a bill tray for up to 1,000 notes with an integral
reject area, making it ideal for easy merchant cash replenishment of cassettes.
It is fast, easy to use, simple to maintain, and offers the benefits of feed
performance and reliability expected from a Talaris dispenser. The MiniMech also
features Talaris’ unique “Intelligent Double Detection” which delivers accurate and
consistent detection of doubles even when notes are severely degraded.
Triton customers are provided with protection for 2 years or 12,000 transactions on the
MiniMech when purchased with a new Triton RL1600 or RL2000 model ATM. Customers that
purchase the MiniMech as a part or as part of a kit receive warranty coverage for 12
months or 6,000 transactions.

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YES AMBASSADORS

Before a panel of judges, hundreds of inspirational, optimistic story
entries were narrowed to 12 finalists, which were then sorted through by
2,200 online voters to narrow down six winners of the Western Union
online global search for “yes!” ambassadors. Each winner will be given
the opportunity to choose Mercy Corps, Room to Read, or Academy for
Educational Development as a recipient of US$10,000 in donations from
Western Union, a chance to serve as representatives for the company and
asked to participate in a “virtual” roundtable on migrant issues. The
talented winners of the contest were Kirit Parmar of Ahmedabad, Gujarat,
India, Dickson Oyaro of Minneapolis, Minn, Roy Honjo of Honolulu,
Hawaii, Teresita Drake of Trenton, N.J., Yemane Muzey of New Brunswick,
Canada and Ruben Morales Enterraos of Cuba. The Western Union Company
provides global money transfer services through its network of more than
379,000 Agent locations in 200 countries while the Western Union
Foundation has granted almost $53 million to more than 1,800
nongovernmental organizations (NGOs) in 100 countries over the past 9
years.

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Computerworld Cites MasterCard Workplace

For a fifth year, MasterCard has been named “one of the Best Places to
Work in Information Technology” by IDG’s Computerworld magazine. This
year MasterCard ranked No. 23 among medium-sized
businesses and No. 72 overall. MasterCard Global Technology and
Operations manages technology
operations in 210 countries and territories and manages the MasterCard
Worldwide Network,
which serves as a critical link among financial institutions, businesses,
cardholders and merchants worldwide, processing 21 billion transactions
in 2008. In
addition, MasterCard employees are encouraged to participate in the
company’s holistic
wellness program and take advantage of flexible scheduling options.
MasterCard also provides continuing education programs through
MasterCard University,
which offers hundreds of education and training courses across many
disciplines.
The announcement comes on the heels of the company’s
selection as one of the “Ten Technology Companies to Watch” by Bank
Technology News.

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WIRELESS EXPERTISE

Wireless Expertise has been introduced with the intention
of bridging the market gap, providing rapid development and delivery of
Mobile Value Added Services and Applications for the global market.
Along with Wireless Expertise services will be international
consultancy, service design and development solutions to help brands
overcome barriers to reach out to their customers via the mobile
channel. Founder & CEO Anuj Khanna has 12 years’ experience with international mobile payments, managed content, applications and messaging services to over 100 global mobile operators across 30 countries. The Company plans to expand operations into North America, Middle East, Asia and Africa over the course of the next 18 months.

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BOKU Launches Global M-Pay Service for I-Purchases

A West Coast startup has launched a new global mobile payments service for online purchases that could potentially reach 1.6 billion customers via 170 mobile operators. The firm has picked up funding, acquired two established companies and formed a top management team. San Francisco-based BOKU has raised $13 million in venture capital investment led by Benchmark Capital, with participation from Index Ventures and Khosla Ventures. The Company also acquired Paymo, based in San Francisco and the Mobillcash business, originally founded in the UK. BOKU also named Mark Britto as CEO, formerly with Amazon, Ingenico, and FirstUSA; Paul McGuire, previously founder & CEO of Paymo and founder of mBlox; James Patmore as Managing Director of EMEA; and other executives with experience in finance and technology companies including AT&T Interactive, PayPal, Apple, FICO, Google, O2 UK, Bank of America and eBay.

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MINDARK & NEOVIA

NEOVIA Financial independent global online payments has deployed
services for the Massively Multiplayer Online Gaming (MMOG)
multi-billion dollar global market, having inked contracts with MindArk
MMOG. With these development, NEOVIA will be providing MMOG global
payment solutions for the exchange of virtual products and services. An
industry projected to increase to $9 billion by 2010, the MMOG market
subscriptions, virtual land, retail products and services now support
the NEOVIA Payment Suite consisting of fraud control, anti-money
laundering policies and e-wallet solutions. This payment suite
additionally manages payment-demanded capabilities with local deposit
options, local languages and local currencies in countries offering only
limited online credit card use. NEOVIA Financial is trusted by consumers
and merchants in over 160 countries to move and manage billions of
dollars annually.

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ActionOptimizer for EDS Test Cuts Charge-Offs 14%

ALI Solutions, f/k/a Austin Logistics, reports that after a year-long pilot of an “EarlyDetection System” it has been successful in cutting charge-offs. The “ActionOptimizer” for early detection scores new accounts on the first day’s transaction activity. The system aggregates application and bureau data with the day-one transaction activity to produce a risk score that predicts the likelihood that the cardholder will quickly run up balances and not pay them off. ALI’s test client recorded a 31% reduction in balances more than 30 days past due and a 23% reduction in number of accounts more than 30 days past due, compared to a control group. Charge-off balances are down 13.7% and charge-off rates are down 4.5%. However, customer attrition rates have not increased. “ActionOptimizer” can be deployed as a direct implementation as well as hosted through a card processing platform.

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CPC to Market Hypercom’s T4205 Terminal

CA-based merchant service provider and ISO Central Payment Corporation has
selected Hypercom’s “T4205” to its more than 25,000 US-based merchant customers.
The T4205 is the newest member of Hypercom’s high security Optimum T4200
product family that consists of four powerful
32-bit multi-application devices that share the same platform, user
interface and software toolkit to maximize efficiency, application
portability and offer customers a broad range of options to serve any
market need. CPC will offer the T4205 as the
terminal of choice to the 1,300 new merchants that it adds monthly. The
T4205 is replacing an incumbent terminal provider’s product. The action
follows CPC’s Class A certification of the device.

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GPN Takes-Over the HSBC Merchant Services JV

Global Payments has acquired the remaining 49% interest in its merchant services joint venture in the United Kingdom from HSBC Bank. Under the terms of the agreement, Global Payments will pay HSBC a total of $307.7 million in cash for the deal. In addition, HSBC will extend the current ten-year exclusive marketing alliance agreement whereby the bank provides merchant referrals and bank sponsorship to Global Payments to June 2019. Global Payments used existing cash and lines of credit to complete the transaction and anticipates the deal to be accretive in fiscal 2010 and will provide additional financial details during its fiscal 2009 year-end earnings call, currently scheduled for July 23rd. In June 2008, Global Payments and HSBC formed a joint venture, HSBC Merchant Services, to provide payment processing services to merchants in the United Kingdom and Internet merchants globally.

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Chase Moves Beyond Platinum to Sapphire Cards

Chase is rolling-out a new premium card to the mass market this summer that offers premier travel benefits, special customer service, the “Ultimate Rewards” program as well as enhanced identity theft protection and upgraded purchase protection. The new “Chase Sapphire” rewards cardholders with one point for every dollar spent on the card; double points on airfare purchased through the “Travel Booking Tool”; and up to 10 bonus points per dollar from 300 merchants featured at the “Ultimate Rewards Mall.” With the new “Sapphire” card featuring “Ultimate Rewards,” the points awarded never expire, there is no cap on points earned and there are no blackout dates for airline travel redemptions. The card is available without an annual fee or for $95 per year you can upgrade to the “Chase Sapphire Preferred” which enables cardholders to transfer points at full value to the industry’s top frequent flyer and hotel programs; a 25% bonus when points are used to book flights through “Ultimate Rewards”; plus 10,000 bonus points when $50,000 per year or more is purchased on the card. Additionally, the new card is offering 10,000 bonus points after the first purchase for the “Sapphire” and 25,000 bonus points after the first purchase for the “Sapphire Preferred”. Both cards carry an interest rate for purchases of the Prime Rate plus 6.99%.

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