INSIDE CONTACTLESS AND APTA

INSIDE Contactless will demonstrate how its “MicroPass”
intelligent contactless payment platform can be applied to transit
payment systems at the 2008 APTA International Transit Expo being held
October 6-8 at the San Diego, California Convention Center. Working with Cubic Transportation Systems, INSIDE
will preview the first multifunction contactless payment card that
supports both a type-approved Visa payWave payment application and
Cubic’s NextPASS(TM) fare collection software that is compliant with APTA’s
Contactless Fare Media Standard (CFMS). Local and regional
transit operators will now have the choice of adopting or migrating to
transit fare collection solutions based upon both APTA standards,
private profiles, and open bank card standards with greater security,
functionality and user convenience. This is also providing retailers and
financial institutions with an opportunity to partner with transit
operators to provide consumers with a single payment card that can also
be used to conveniently pay for goods and services located near public
transit stations.

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GLOBAL PLATFORM & TRUSTED LOGIC

GlobalPlatform’s GPD/STIP v2.3 Mobile Profile Specification device technology is being used by software component provider Trusted Logic in
“Trusted Foundations Software”.
The new Trusted Foundations(TM) Software merges two of the company’s
existing trusted execution environment products – the TL Security Module
for wireless devices and the jTOP for Terminals – to provide a more
flexible security platform that supports the increasingly complex
requirements of the growing mobile services market. By utilizing the
GPD/STIP v2.3 Mobile Profile Specification, this solution offers
application providers with improved overall security to deliver multiple
applications and/or extend interoperability through standardization,
while offering greater control over downloadable and broadcast content
access rights through the addition of an XML service Application
Programming Interface.

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mobiclear’s Appoints Paul Pasion as CIO

mobiclear has tapped Paul Pasion, previously with Bastion Payment Systems, as its new CIO. Pasion will be responsible for managing the ongoing
development and deployment of all mobiclear technologies. As an executive with Bastion Payment Systems Corporation his team successfully
launched the Philippines’ leading transaction processing gateway and
various other world class payment management systems. He worked in Japan
for eight years for the Ebara Corporation. He managed a variety of Overseas Development Aid projects with Japan Bank for International Cooperation, Asian Development Bank and World Bank. He earned degrees in Economics and Asian Studies from Oberlin College in Ohio.

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CITI M VISA LAUNCH

The three day launch event for the Citi M
Visa credit card has won Hi-So magazine’s “launch party
of the year” award. The Citi M Visa credit card, issued in partnership with The Mall Group and Visa International, was the center of attention at the iconic Siam
Paragon department store in central Bangkok. In addition to performances and appearances from some of Thailand’s
leading entertainment celebrities, the launch event included a fashion
show and promotions with leading retailers such as Tods, Versace, Hugo
Boss as well as dining and entertainment outlets.

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Everest Indicates Credit Crunch will Drive Global Outsourcing

A new report released by Everest Research Institute indicates that the credit crunch will drive global outsourcing of financial services to reduce costs.
The Institute predicts BPO (Business
Process Outsourcing) from the financial services sector will increase
40-45 times the current market size over the next five years, with key
drivers of growth coming from cost pressures and the timely advent of
more vertical-specific offerings by offshore suppliers, according to the
Institute’s study, Global Sourcing in Banking, Capital Markets and
Insurance. Within five years, the Institute projects spending for global BPO by the
financial services sector will reach US$145-165 million for India-based
services, the hub of global sourcing for financial services. The report
also projects offshore BPO adoption in the insurance sector will grow
12-15 times during the same time period.

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AnyDoc Software to Integrate Mitek’s ImageNet Payments

Mobile imaging software provider Mitek Systems has signed an OEM
agreement with AnyDoc Software to integrate Mitek’s “ImageNet Payments” check engine platform to AnyDoc’s “Infiniworx” solution for automated remittance,check, and Check 21 processing. Users of “Infiniworx” now have the flexibility to integrate automated
check processing into a document and data capture processing workflow,
matching their company’s existing business processes. Once scanned, a check image is automatically cropped from the remittance statement.
The check is then subsequently processed to capture the account number, check number, check amount and MICR, and the remittance is processed for
the details utilizing AnyDocREMIT. The Infiniworx solution for automated check and Check 21 processing
combined with AnyDocREMIT provides users a complete accounts receivable
solution. AnyDocREMIT automatically captures and processes summary and
detail line item data from remittances without fixed-format templates.

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eBay Reached an Agreement to Acquire Bill Me Later

eBay has reached a definitive agreement to acquire alternative payment provider Bill Me Later for approximately
$820 million in cash and $125 million worth of outstanding
options. The deal offers strong synergies within the eBay portfolio. Bill Me
Later can offer its deferred payments and promotional financing service
to the tens of millions of customers who use eBay and PayPal. PayPal
expands its customer base to approximately 1,000 of the most popular Web
sites and to the millions of online shoppers who use Bill Me Later.

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Bank Freedom Aired 33,000 Times in 3 Weeks During September

Prepaid Card Holdings has aired 33,000 spots for
its Bank Freedom Prepaid MasterCard on cable television over a
three-week time period in September. The focus of the commercial is to educate America’s underbanked
consumers of the benefits of a prepaid card and explain how easy it is
to acquire one. Regardless of credit history or employment, America’s
underbanked can get a Bank Freedom Prepaid MasterCard. The company
offers 100% Guaranteed Approval policy for America’s underbanked subject
only to verification of identity.
Bank Freedom contracted to run its 60-second direct response television
commercial in 189 local cable markets focusing on America’s underbanked
consumers. The Bank Freedom Prepaid
MasterCard, issued by MetaBank, is accepted at over 1,000,000 ATM’s worldwide and wherever
Debit MasterCard is accepted.

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USA Technologies launches ePort G8 and ePort Edge

Wireless cash transaction provider USA Technologies has launched “ePort Generation Eight” and “ePort Edge.”
The “Generation Eight (G8”) is the third G series ePort device to offer a cashless transaction solution for unattended point of sale appliances
that integrates a new quad-band radio, contactless card reader (RFID),
with the traditional swipe card process. G8 accepts both traditional magnetic stripe
credit cards and credit cards with tap-and-go technology, including
MasterCard’s PayPass, American Express’ ExpressPay, Visa’s Contactless,
Chase Bank’s Blink and Discover Network’s Contactless technology.
The ePort Edge has completely re-engineered the G Series of ePort
devices into a one piece design, which is substantially smaller than any
existing device on the market. The ePort Edge was developed specifically
for those in the vending industry who want to bring their customer a
magnetic swipe only cashless system.

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MasterCard Receives 2008 Connect NonStop Availability Award

MasterCard is a recipient of the “2008 Connect NonStop Availability Award” for processing reliability. The primary use of HP NonStop servers at MasterCard is to power the processing of online payment transactions through the MasterCard Debit Switch. The MasterCard Debit Switch moves messages — such as a request to a bank for authorization of a purchase — between merchant banks and banks
that issue MasterCard debit cards or Cirrus- or Maestro-branded cards.
Connect evaluated award entries from member organizations around the
world based on update, complexity of environment, quality of data and best practices.

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