BONUS TRINK

On Track Innovations Ltd microprocessor-based smart card solutions has
announced Garanti Technology (GT) has been awarded the “Best Innovation
in a Loyalty Program” award at the Cards & Payments Europe 2008 Cards &
Payments conference and expo for its “Bonus Trink” Sticker project.
Garanti’s “Bonus Trink” contactless payment solutions are supplied by
OTI in the form of a ‘smart’ sticker which may be adhered to multiple
metallic, plastic or other surfaces and is compatible with the OTI
“Saturn 6000” contactless reader. Ideal for use with watches and cell
phones, “Bonus Trink” is also targeting the 20-35 year old demographic
with the ‘cool factor’. OTI designs, develops and markets secure
contactless microprocessor-based smart card technology in a wide variety
of markets for various industries.

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Wachovia Names a New eCommerce Head

Wachovia has hired Sridhar Chityala, previously with Citicards, to head its
eCommerce division. Chityala served as head of the
Telecommunications Business Unit at Citi Cards, where he was responsible
for the company’s partnership with AT&T, along with mobile services and
PayPass applications for credit cards. Prior to joining Citigroup, he
was executive vice president of
eBusiness at JP Morgan Chase, where he was responsible for eBusiness
oversight for the bank’s cards, retail banking, home and auto finance and
middle market businesses. Previously, he was senior executive for Chase’s
credit card eBusiness. Chityala holds a master’s degree in computer
science from the Indian
Institute of Technology in Bombay and a Graduate Management Qualification
from the Australian Graduate School of Management. Chityala will partner
with Wachovia’s business units to help them
develop eCommerce strategies that will support their business goals. He
also will provide leadership for the corporation on innovative technologies
to ensure outstanding customer service, increase client acquisition, drive
revenue growth, and create efficiency for Wachovia.

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LONDON 2012 VISA

Lloyds TSB is launching its “London 2012” Visa debit card available
until October 2008. An official sponsor of the Olympic games, Visa is
launching the green, silver, gold and black “London 2012” debit card
featuring the “London 2012” logo will be provided new customers opening
a current account with the bank and will be provided existing Lloyds TSB
customers requiring a card replacement. An official sponsor of London
2012, Lloyds TSB has exclusive access and category marketing rights for
the event, the current Beijing Games and the Vancouver 2010 Winter
Olympics.

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TNB Buys a 1st CU of Gainesville Portfolio

1st Credit Union of Gainesville has sold its nearly $4 million card portfolio to
TNB Card Services. Founded in the 1940s, 1st Credit Union of Gainesville serves the entire
community of Alachua County, Florida. With 5,300 members, it has assets
of $44 million. TNB has partnered with more than 160 credit union’s to own and manage
their credit card portfolios. TNB serves more than 550 financial
institutions of all sizes and managing more than 2 million cards.

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LOTTE PITAPA CARD

The Surutto Kansai Association and Lotte Card South Korean credit card
company have partnered for the launch of the “Lotte PiTaPa Card” rail
pass card across South Korea come October 2008. The “Lotte PiTaPa Card”
was designed to provide users an IC-embedded credit card with rail pass
functions for which payment will be processed through the user’s
won-denominated banking accounts in South Korea. The card is being
launched partially with the intent of attracting travelers and
businesspeople from the country to western Japan. Holders of the PiTaPa
card reached 1.15 million in July 2008 for which the tourism ministry
plans to carry out research to gather necessary data.

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U.K. Oyster Card Program is in Disarray

Cubic Transys consortium member has been legally restrained by EDS from taking over the running of the entire U.K. Transys Oyster smartcard public transport system. In response to this restraint, Cubic has brokered a deal with Transport for London stipulating in the event the restraining order were lifted the organization would be allowed to run the system. The negotiations with Transys TfL , who declined to give details,
reveal that the former is seeking better terms and has brokered a deal with Cubic to be the sole provider of the system. To summarize, negotiations with EDS failed, but were successful with Cubic, negotiations with Cubic and EDS then continued as separate entities, negotiations with EDS failed again but were again successful with Cubic and TTL then negotiated with Cubic to perform the entire project for which EDS went to court to obtain a temporary restraining order.

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ALRC PRIVACY REFORMS

Established in one of the only three OECD countries not to have
comprehensive credit reports and recognizing the subsequent need for
credit reform, the Veda Advantage Australian credit bureau is
encouraging Australian Law Reform Commission’s (ALRC) Privacy reforms.
These reforms are designed to significantly improve credit report
information, which currently providie financial providers 11% of the
information needed to identify and predict consumer credit risk, to 64%
of credit information which to include account status and payment
history fields. These reforms by the ALRC will also put on hold industry
policy to include account status, payment history, overdue payments and
missed payments during the previous 24 months until a more reliable
framework is established. Veda Advantage holds the
country’s database of credit files for more than 14.5 million
credit-active Australians.

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TRANSYS OYSTER

Cubic Transys consortium member has been legally restrained by EDS from
taking over the running of the entire Transys Oyster smartcard public
transport system. In response to this restraint, Cubic has brokered a
deal with TfL stipulating, in the event the restraining order were
lifted, the organization would be allowed to run the system. The
negotiations with Transys, TfL declined to give details of, from who the
former is seeking better terms, however has brokered a deal with Cubic
to be the sole provider of the system. To summarize, negotiations with
EDS failed, but were successful with Cubic, negotiations with Cubic and
EDS then continued as separate entities, negotiations with EDS failed
again but were again successful with Cubic and TTL then negotiated with
Cubic to perform the entire project for which EDS went to court to
obtain a temporary restraining order.

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NACHA Hosting an Intl Payments Conference

NACHA electronic payments association has announced its hosting the
Institute of International Payments Conference in Atlanta, GA on November 18th to 20th. The 2 1/2
day conference has been designed to provide payment professionals an
education to understand the payments industry on a global scale,
including principles, concepts, infrastructures, practices, issues and
developments. The unbiased material will be taught by practitioners from
organizations engaged in international payments to include such topics
as International Payments Fundamentals, International ACH Payments,
Clearing, Settlement, International Standards, Straight-Through
Processing, Global Payments, Foreign Exchange, Currency Principles and
many other issues.

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NYCE ATM SUM Program Adds Clients

NYCE has announced Wintrust Financial Corporation banks and AMCORE Bank
have joined its “Saves U Money” Program (SUM) selective ATM surcharging
program provided through its payments network. The NYCE Payments Network
is a U.S. debit card payments network and a Metavante company that is
allowing participants to bring surcharge-free ATMs to underprivileged
areas through SUM for the 10th year. ATM users can take advantage of the
program through 500 participating financial institutions in 27 states at
a total of 2,900 designated ATMs and is part of the NYCE Payments
Network initiative to help its clients grow through new products and
strategic alliances.

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VF Terminals to Power Australian Taxis

Cabcharge Australia has awarded a multi-million dollar contract to VeriFone stipulating the deployment of 20,000 of its “Vx 810 Systems” for contactless payment acceptance in taxis across the Cabcharge fleet. Slated to begin in October for completion by December 2009, deployment of the VeriFone “Vx 810” PIN entry system payment module has been designed to provide drivers and passengers improved convenience, security and speed in the 96% of the Australian taxis that use the Cabcharge system. The Cabcharge system is used by 400 different taxi companies representing nearly 18,000 taxis. VeriFone’s “Vx 810” will be an integral part of Cabcharge’s next-generation fare management system, featuring “Chip and PIN,” “Pen and PIN” and contactless and will also support payments initiated from mobile phones using the emerging NFC standard.

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