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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CardWare has joined with PCI and ControlScan

OH-based merchant services provider CardWare International has joined with PCI and GA-based security solution provider ControlScan to help
customers manage PCI compliance programs. Through CardWare International’s acquirers, merchants now have access to
ControlScan’s leading PCI compliance solution, which includes the PCI
Self-Assessment Questionnaire and on-demand security scanning, backed
with expert technical support with a personal touch. ControlScan works
with merchants every step of the way so that it’s easy for them to get
the help they need.

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Iconoculture Released Analysis on Shopping Trends

Cultural trend researcher Iconoculture has released analysis on the ways in which Americans shop and the impact of the economy on shopping trends. Gift cards sales will continue to be strong this holiday season but there will be changes this year. Squeezed budgets will force more shoppers to opt for lower card values, and more gift cards will show up in cool packaging, as more consumers look to balance the simple convenience of gift cards with the restoration of gift-giving excitement.

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Wachovia Continues to Puruse Agreement with Wells Fargo

Wachovia will continue to pursue its new agreement with Wells Fargo, counter to the court order issued this weekend. Wachovia continues to believe its agreement with Wells Fargo, which
involves no government assistance, is proper and valid. The agreement is in
the best interests of shareholders, employees, creditors and retirees as
well as the American taxpayers, and it imposes no risk to the FDIC fund. Wachovia does not
believe Justice Ramos’ order has any effect on the validity of the Wells
Fargo agreement with Wachovia. However, under that agreement, Citigroup is always free to make a superior offer
to Wachovia.

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