CHECKFREE & DUBAI ISLAMIC BANK

Fiserv has signed a contract to provide Dubai Islamic Bank
the CheckFree transaction management and
reconciliation solution. The intuitive user interface and ease of
deployment of the CheckFree
solution has positioned Dubai Islamic Bank to enable improved risk
management practices, and has already led them to extend the solution across
multiple business units. Ease of use of the CheckFree solution has
enabled Dubai Islamic Bank’s
staff to adapt to the new environment without intensive training.
CheckFree’s transaction management and reconciliation solutions are
deployed across a global customer base, including some of the largest
domestic and
international banks, custodians, brokers and asset managers. The Dubai
Islamic Bank
project is the result of an ongoing collaboration with EastNets Group,
Fiserv’s primary
business partner in Dubai.

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Coinstar/Overstock Offers Free Coin Counting

E-retailer Overstock.com has joined forces with Coinstar as part of the
“Coinstar Coin to Card” program that converts change to gift cards. To
receive free coin counting, consumers deposit their coins into
the Coinstar Center, the coin is then counted, and the full value is
applied to the eCertificate. The eCertificate is dispensed directly from
the machine and can be used immediately at Overstock.com. The
Overstock.com eCertificate is available on approximately 10,000 Coinstar
Centers across the U.S. Overstock.com offers over
600,000 products on their website, including apparel, jewelry,
designer accessories, home goods and sporting goods.

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OTI 3Q/08

On Track Innovations reports that revenues for the third quarter increased by 10% to $10.9 million. Net loss on a GAAP basis for 3Q/08 decreased by 39% to $4.8 million. At the end of the third quarter the Company had $106 million in total assets and $32 million in cash. During the quarter, OTI and Renesas Technology partnered to develop a secure contactless microcontroller payment certified by “MasterCard PayPass” and Visa; agreed to supply its contactless readers to the ERG Group for Utah Transit Authority’s contactless credit card bus payment solution; and its “Saturn 6000” countertop reader and “Saturn 6500” outdoor reader has been approved by Visa and MasterCard. For complete details on OTI’s latest performance visit CardData (www.carddata.com).

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Retail Gift Card Association is Created

The founding members of Applebee’s, Best Buy, Home Depot, Marriott and
Subway teamed in October to create an industry group for gift cards. The
new “Retail Gift Card Association” has a mission to create
consumer-centered policies and procedures for members. Membership in the
RGCA is limited to premier retailers with strong brands and longevity in
the market, who place particular emphasis on their customers’
satisfaction. The RGCA also says it will investigate new initiatives
that will provide increased security against fraud
and greater protection in the event of business reorganization or
bankruptcy. There are growing concerns about the consumer protections of
gift cards in the wake of the bankruptcies of Circuit City and Linen ‘n
Things.

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Credit Manager’s Index Continues its Nosedive

The NACM “Credit Manager’s Index” hit a new low in November as eight of the 10 components fell, all below the 50 level and seven set record lows. The “CMI” plummeted 2.6 to reach a historic low of 42.2,
clearly indicating economic contraction. The seasonally adjusted manufacturing sector index fell 1.3 to a record low of 42.4. The seasonally adjusted service sector index fell 3.9 to a record low of 42.0. Over the past year the largest single component to drop in each index was sales, falling 20.9 in manufacturing and a stunning 27.5 in services. The National Association of Credit Management says on a seasonally adjusted basis over the past 12 months, the “CMI” has declined dramatically, falling a record 10.9 as four of the combined components set record declines, with much of the decline coming in just the past three months. The macroeconomic data continues to describe an economy which is in bad shape and which seems to be deteriorating as unemployment rises, retail sales fall and credit tightens.

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AIMETIS SYMPHONY

Intelligent video surveillance software provider Aimetis
announced that its
surveillance platform, “Aimetis Symphony” played an instrumental role in
thwarting a card skimming scam. A false
keyboard and card reader had been mounted on top of the regular keyboard
at one of the checkout registers at an ICA Maxi Superstore in Partille,
Sweden. The card reader was connected to a wireless transmitter that
would send the swiped credit card information over a network for use by
the criminals. “Aimetis Symphony” smart search capability allowed store personnel to
search through the entire night of video footage in seconds, returning
results of potentially suspicious activity. The video clearly captured
three men entering the store shortly before closing on Sunday night, but
only two of them leaving. The video also returned extremely high quality
video images of the third man installing the high-tech skimming device
and then leaving the store just after opening on Monday morning.

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Consumer Reports Kicks-Offs a Card Campaign

Consumer Reports has released the third installment of its credit
education campaign to provide guidance for holiday spending. A recent
survey from the Consumer Reports National Research Center found
that 12 million Americans are still in debt from last year’s holiday
season with 38% of Americans who plan to use credit cards this
holiday season compared to 35% who used credit last year. Consumer
Reports will run a series of
online ads across highly trafficked or influential personal finance and
consumer blogs including Consumerist.com, Yahoo Shopping, and
Bargainist.com. The online ads will highlight the Consumer Reports
“Tightwad Tod” blog.

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Credit Karma Offers Free TransUnion Reports

CA-based consumer credit advisor Credit Karma has partnered with
TrueCredit.com to offer free TransUnion credit reports to
provide consumers with the tools and information to better understand
how lenders are evaluating them. A recent Federal Reserve Board survey
showed tightening lending
standards across every major loan category, including mortgage and
credit card interest rates.
Moreover, financial experts suggest that to qualify for the best
mortgage rates in today’s market, consumers need a much higher credit
score; some suggest it will
need to be as high as 750 to qualify for the most favorable rates.

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M&T Bank Renews its Visa Card Partnership

M&T Bank and Visa have renewed their brand
partnership agreement that provides M&T customers with branded
consumer and small business debit, commercial credit, and prepaid cards.
M&T Bank is one of the top 20 largest U.S. commercial
bank holding companies, with approximately $66 billion in assets and
operates more than 680 offices and 1600 ATMs in New York,
Pennsylvania, Maryland, Virginia, West Virginia, Delaware, New Jersey
and the District of Columbia.

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OTI ASEC

Contactless provider On Track Innovations’ subsidiary, ASEC S.A. was awarded
a contract to become an e-ticketing operator of Warsaw City Card for the Transport
Department of the City of Warsaw to provide a sales network system, infrastructure,
distribution service and maintenance for loading of transportation
electronic cards around the city.Under the agreement ASEC will install in the city 100 automated vending
machines and 300 terminals for loading of Warsaw City Card which will be located
at subway, and train stations, buses and tramway transfer hubs and at areas
frequently visited by tourists. Direct revenues will be generated from
transaction fees and are expected to aggregate more than $10 million over the next 5 years.

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Aite Analyzes Small Business Mobile Banking

A new report from Aite focuses on the growth of mobile banking for small
businesses. More than 60% of small
businesses currently bank online, and are showing a greater demand for
multichannel banking, including mobile banking services, and
approximately one-third of those interviewed expressed a likelihood that
they will use mobile banking; nearly 10 times the likelihood expressed
by credit and debit cardholders in a similar Aite Group survey. Unlike
retail banking customers that have
been universally provided with free mobile banking, small businesses can
and do pay for a number of banking services. Mobile banking for small
businesses could be a revenue generator for banks.

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