ONEPULSE

Barclaycard has committed to issue at least one million contactless
cards to UK consumers before the end of 2008. With a heavy hand in the
introduction of contactless technology since September of 2007 with the
launch of its “OnePulse” contactless payment card, Barclaycard now has
more than 6,000 live terminals accepting contactless payments throughout
the UK. These terminals can be found at such retail locations as the
Coffee Republic, EAT, The National Trust and Yo! Sushi. To celebrate the
one year anniversary of the launch of “OnePulse,” Barclaycard will be
giving away 50,000 single-use contactless
cards for visitors to use during its hosted festival in mid-September 2008.

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VeriFone Hires a New CFO

VeriFone Holdings has appointed Robert Dykes, previously with NebuAD, as
SVP and CFO. Dykes will become Chief Financial Officer immediately
following the filing of VeriFone’s Quarterly Report on Form 10-Q for the
third fiscal quarter ended July 31, 2008. Dykes has been Chairman and
CEO of NebuAd Inc., a provider of targeted online advertising networks.
From 2005 to 2007, he was Executive Vice President, Business
Operations and Chief Financial Officer of Juniper Networks, Inc., a
provider of network infrastructure. Dykes will succeed Clinton Knowles,
who has been serving as Interim Chief Financial Officer.

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TAGUIG CITYCARD

The Land Bank of the Philippines has signed agreements for the
deployment of its “CityCard” to the 352,000 Taguig city employees and
constituents, providing various benefits. With many uses as an
Identification Card, Monitoring Card, Debit Card, and ATM card for access to LANDBANK, Expressnet, Bancnet, and Megalink ATMs. The card was
launched in Taguig City due to its fast growth. The card is also useful
as a discount card on medicines and laboratory fees at the Taguig City
Hospital.

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Smart Payment Solutions Adds an Exec

VA-based Smart Payment Solutions has appointed Marc Eber, previously
with Mi-Cash, as Director of Marketing. Eber served as Director of
Marketing at
MiCash, Inc., creating bilingual advertising campaigns and customer
communications for the financial services start-up. He facilitated new
product introductions, working with product development and field marketing
teams in Marketing Operations at Nextel Communications. He held similar
positions in sales performance and marketing roles at Verizon Wireless and
Nokia. Eber obtained Bachelor of Arts degrees in Political Science and
Economics, a Master of Science in Marketing, and a Master of Business
Administration, all from the University of Maryland.

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MC, AmEx and Fifth Third Launch Promotions

MasterCard, American Express and Fifth Third have launched fall card
promotions this week. MasterCard has teamed with Hyatt Hotels’ “Faster
Free Nights” promotion by awarding 2,000 bonus points after every two
eligible stays by using a MasterCard for payment. American Express
“Membership Rewards” enrollees who book the Doubletree “Bed and
Breakfast” package, and pay with their AmEx, have the chance to earn
double bonus points. AmEx has also teamed with Choice Hotels to offer
guests the chance to earn double “Choice Privileges” points on
qualifying stays at over 300 properties in Europe. OH-based Fifth Third
Bank has launched the “Unlock Your Dreams sweepstakes”, which will award
nearly $900,000 in sweepstakes and scratch off prizes. The game piece
will reveal one of many instant offers including a $10 “MasterCard Gift
Card,” and 5,000 “Bonus Rewards Points” with a new Visa “Signature
Credit Card”, among other prizes. For more incentives visit CardTrak’s
Card Incentives section or [www.cardincentives.com](www.cardincentives.com).

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Credit Card ABS Metrics Improve Slightly

Among securitized credit card assets, the monthly payment rate and
charge-offs remain negative while yield, delinquency and excess spread
are improving. The three-month average for charge-offs remains at 6.3%
while the monthly payment rate has declined to 19.1%. Among master
trusts, Washington Mutual posted a 12-month average charge-off rate of
11.76%, compared to Capital One’s 6.70% and Chase’s 5.12%. Washington
Mutual also posted a 12-month average monthly payment rate of 10.03%,
compared to Capital One’s 18.79% and Chase’s 17.78%. According to Fitch
Ratings’ new ‘U.S. Credit Card ABS Tear Sheet’, the three-month average
for portfolio yield was 17.7%, while delinquencies came in at 3.1% and
excess spread at 7.4%.

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Visa Names its North American President

Visa has named Bill Sheedy as President of North American operations to
oversee the company’s relationships with card issuers, merchants,
merchant acquirers and third-party processors. Most recently Visa’s
Global Head of Corporate Strategy and Business Development since October
2007, responsible for strategic and new business initiatives, Sheedy has
been a member of the company since 1993, led Visa U.S.A.’s interchange
strategy group and had a hand in its recent IPO. Bill came to Visa with
three years of experience at Ford Motor Company’s First Nationwide Bank.
Sheedy will report to Hans Morris, President of
Visa Inc.

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Lower Gas Prices Push-Up Consumer Confidence

Consumer angst over the U.S. economy eased somewhat in August as more
Americans take the hold-the-line approach to spending. Furthermore, a
monthly consumer spending index posted its largest ever month-over-month
increase in its history and the highest reading for this year. The
Discover “U.S. Spending Monitor” rose 2.6 points in August to 87.8.
However, the Monitor’s “Index” still lies seven points below the August
2007 reading of 94.8. Discover said that gas prices tumbled 37 cents a
gallon in August, levels well below the $4 per gallon average that had
been the norm for much of the summer, which impacted the “Index”.
However, there was a 7-point decline in the number of consumers
expecting to spend more in the next month from 40% to 33%.
But, a positive sign from consumers is for the second month in a row,
the number expecting an income shortfall or added expense in the next 30
days dropped, this time to 40%, compared to 42% in July. This is the
lowest this number has been since March.

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Barclaycard US Hires a Citi Exec as CFO

Barclaycard US has appointed Barney C. Briggs, previously with Citigroup, as CFO.
At Citigroup he served as Senior Vice President and Senior Director of the American
Airlines AAdvantage business. Prior to that position, Briggs served
as CFO of Citi’s Travel & Business Strategic Unit. He was also Vice
President of Citi’s Private Label Oil Planning & Control unit.
Prior to his experience at Citigroup, Briggs worked at NationsCredit
where he served as Vice President of Planning and Control for 300
consumer branch locations and served as Corporate Information Services
Controller.

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GIVEX & DYNAMICS AX

Closed loop card technologies provider Givex announced that it is now certified by “Microsoft Dynamics AX”. This was done in collaboration with enterprise software provider Junction Solutions, which uses the “Microsoft Dynamics AX” platform to bring comprehensive ERP solutions within the reach of many mid-size to large businesses. With this integration, Junction Solutions clients will now have the ability to accept Givex gift cards and coupons as well. In addition, Junctions Solutions has successfully integrated the Givex gift card program into its JunctionEOD for eCommerce and JunctionISS for point-of-sale solutions to include scan or MSR card swipe, balance inquiry, purchasing, reloading and redeeming gift cards, and gift card cash out. In addition to gift cards, Givex also provides other solutions for all aspects of a merchant’s business including: loyalty cards, e-gift certificates, frequency cards, returns cards, employee incentives, expense accounts, promotional cards and coupons.

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Visa Launches More Mobile Payments Programs

Visa is launching four new mobile payments programs. Two commercial mobile payments programs are being started in Brazil and Korea, along with two mobile offers and transaction notification pilots in the USA. Visa has more than a dozen pilot and commercial programs using its mobile platform underway worldwide. Visa recently announced a partnership with Chase Bank for a pilot program to deliver personalized mobile offers to select consumers in Phoenix, AZ. PNC Bank, SunTrust Bank, U.S. Bank, Wachovia, and Wells Fargo along with RBC, TD Bank, and Vancity in Canada, are testing a transactions notification program that is able to send near real-time information to cardholders. This week, Visa announced the availability of remote mobile payments in Brazil by Banco do Brasil, the first program of its kind in Latin America. As a world first and in partnership with T-Money provider Korea Smart Card Company, card issuer Shinhan Bank and Korea Telecom Freetel, Visa has made it possible for commuters to use their Visa account to top up their T-Money balances automatically on the phone’s SIM card when it falls below a certain level.

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BofA’s PayMode Network Tops $225 Billion

Bank of America reports that it is signing up about 2,000 vendors per month for its electronic exchange network. To date, 50,000 vendors participate in BofA’s “PayMode” network. The network, a component of BofA’s “Electronic Payment Services” suite and “Comprehensive Payables,” has processed more than $225 billion in transactions. Since April 2007, transactions processed through the network have grown 65% and the client base has increased by 64%. “PayMode” facilitates the electronic exchange of invoices and payments between businesses and their suppliers. BofA notes that the “PayMode” network has experienced a near 100% vendor retention rate.

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