Metavante Technologies Promotes Layden

Metavante Technologies has named Donald W. Layden, previously Senior Executive Vice President as its General Counsel and Corporate Secretary. Layden, who joined Metavante in 2002, also serves as President of the Metavante Corporation International Group. He received his bachelor’s degree in economics and political science from Marquette University and he received his Juris Doctor with honors from Marquette University Law School, where he was an editor of the Law Review. Metavante Corporation delivers banking and payments technologies to over 8,000 financial services firms and businesses worldwide.

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CONSULTANT MEMBERSHIP

GlobalPlatform smart card specifications body has introduced the
“Consultant Membership” to its participants. For an annual fee of
$15,000, the “Consultant Membership” provides users an
opportunity to contribute to GlobalPlatform’s development and
promotion of interoperable smart card specifications. Furthermore,
The program offers users the option to choose different levels of
participation, designated as “Full”, “Participating”, “Observer”,
“Consultant” or “Public Entity”, depending on to what degree the
user feels appropriate for providing input in creating an open
infrastructure for the smart card market.

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TU Settles an Identity Theft Lawsuit

A leukemia survivor has reached a settlement with TransUnion over negligence pertaining to a case of identity theft. Eric Drew filed suit against six credit reporting companies and banks over the matter. Five years ago, while in the hospital with leukemia, his identity was stolen by a worker at the hospital where he was being treated. Credit was issued in his name to a fraudulent address in Washington State, where he was hospitalized but wasn’t a resident. Drew alleges that the banks did not verify the address or applications, and that when he called to complain from his hospital bed, he was told to submit paperwork to prove that it wasn’t him. TransUnion agreed on an undisclosed financial sum, as well as three major policy changes which they have agreed to implement in the next six months.

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IP Commerce Platform is Introduced

Denver-based IP Commerce has introduced a new software framework designed to reduce the time, cost and effort associated with the creation of new, secure commerce solutions. The new “IP Commerce Platform” unites software companies, service providers and distributions channels in a new, dynamic environment that negates the need for proprietary, one-to-one connections. Based on the principles of service-oriented architecture, the Platform’s flexible, open environment provides partners with the ability to create new commerce solutions efficiently and securely, and in a scalable fashion that has never been available in the payments industry. Partners leverage their portion of the Platform to custom-configure solutions and channels in a way which best suits their business needs.

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CHIFA PROJECT

Gemalto digital security has announced it will be the prime contractor for
the deployment of an electronic healthcare project in Algeria, “Chifa”,
over the next 2 years. Set by CNAS, the duration for the deployment will
see the completion of 7 million cards issued to enable healthcare
institutions to manage patient records securely and to verify patient
benefits. Additionally, “Chifa” provides transaction security and faster
reimbursement. Gemalto security generated 2007 annual revenues of over
EUR1.6 billion, has over 85 offices in 40 countries and about 10,000
employees.

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CARD FRAUD

APACS Payments Association statistics show card fraud losses were up
25% from the year prior, mostly in countries where chip-and-pin has yet
to be implemented, accounting for 39% of worldwide fraud loss. Card-
not-present fraud loss has risen 37%, accounting for over 50% of all card
fraud loss while check fraud loss was up for the first time in 2 years by
10% to GBP33.5 million. In the UK, however, where chip-and-pin security
has been introduced, card fraud dropped from GBP218.8 million in 2004
to GBP73.0 million in ’07.

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DCC POS

FreeStar and Monex have partnered to launch a POS currency
conversion solution across Europe, DCC POS. The organizations
will target the airline industry, hospitality sector and car rental industry
with the conversion solution, providing additional revenue channels.
Monex provides multi-currency credit card processing of over
EUR6.35 billion in transactions annually worldwide and operates
in 19 countries worldwide while FreeStar Technology Corp provides
merchants and acquirers with processing solutions in over 20 countries.

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Jacksonville SB Offers CNB Payroll Cards

IL-based Jacksonville Savings Bank recently signed a contract with OK-based Central National Bank to offer payroll cards. CNB issues and processes prepaid cards, including payroll cards, remittance cards and gift cards. Those cards, with standard pricing, are then offered to other banks that want to be able to offer the products without a large investment of time and money. CNB and the marketing bank share in the interchange and fee income earned on the cards. CNB also develops custom programs for banks and 3rd party marketers interested in prepaid card programs.

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DEBIT CARD FRAUD

Correlating with significant growth in Canadian debit card fraud
over the past 4 years, the Country’s smart-card industry has seen
growth in interest and funding, most recently with the launch of a
$1 billion pilot project. Shadowing the success seen in Europe, with
some countries seeing a card fraud reduction rate as high as 75%,
the Canadian industry hopes to greatly reduce fraud loss and to quell
further growth of this rising problem. In 2007 alone, for example,
159,300 card holders across the country were victims of fraud,
costing the industry $107 million.

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CARDS ASIA 2008

The 13th annual “Cards Asia 2008” smart card conference will be held
April 8th-11th, attracting over 5,000 trade decision makers from across
multiple vertical industries. This year’s event, however, will offer
attendees
more expo space, more exhibitors and a larger showcase of solutions for
the promotion of smart card adoptions/demonstrations than years prior.
Moreover, for visitors, Card Asia provides products, ideas and
innovation for customer appeal while, for exhibitors, the exhibition
provides
a forum for the presentation of new solutions to a targeted audience of
major corporations in various card-using sectors. Organizations attending
the conference include representatives from the American Bankers
Association, American Express International, Bank Negara Malaysia,
China UnionPay and Citibank, among many others.

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RBC VISA INFINITE

The Royal Bank of Canada(RBC) has launched the VISA “Infinite” credit
card. The newly introduced card provides Canadian cardholders with
personalized servicing, customized rewards, travel assistance, concierge
service, worldwide airport lounge access, various insurances and
access to select events. Additionally, the bank is introducing the “RBC
Avion Visa Infinite”, providing all the aforementioned services with added
benefits, including more opportunities to earn points, advanced travel
insurance and additional offers. RBC provides payment solutions, dual
credit and stored value cards across the country.

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