FUNDSTECH

FundsTech Co has signed a Letter of Intent to provide credit card
processing, debit card processing and other various infrastructure
components with an unspecified Central African financial institution.
These services’ ‘various’ components are to include payroll cards,
money transfers and micro lending and will subsequently be made
available to nearly 45 million consumers. FundsTech Corp financial
services provides prepaid debit cards to the over 1 Billion working
population worldwide who do not have a bank account.

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Monitise Americas/NYCE Expands Further

Monitise Americas has signed five additional financial institutions with NYCE Payments Network to provide mobile services to their customers and members. These new agreements bring the total number to 20 financial institutions that have chosen the Monitise Americas solution for their mobile needs. The signing of these agreements comes on the heels of 10 financial institutions that were announced earlier in January. The most recent institutions to offer mobile banking and payment services from Monitise Americas and NYCE include: Commerce Bank of Arizona, Tucson, AZ.; Forest Park National Bank & Trust Co., Forest Park, IL.; Industrial Credit Union, Boston; Patriot State Bank, Fuquay-Varina, N.C.; and Wedbush Bank, Los Angeles.

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TransUnion Names a New CFO

TransUnion has appointed Samuel Allen Hamood, previously with EDS, to CFO. Hamood comes to TransUnion from Electronic Data Systems (EDS), where he was the corporate vice president and CFO for its U.S. Operations. Prior to his CFO role, he was responsible for investor relations, oversaw strategic planning and business development opportunities for EDS. From 1995 through 2001, Hamood worked in various leadership positions within finance for the Walt Disney Company. He started his career in Chicago with Deloitte & Touche, LLP. Hamood graduated with a bachelor’s degree in finance from the University of Iowa and a jurist doctorate from Southwestern University School of Law in Los Angeles.

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ING & MASTERCARD

ING Payments has made public its intentions to partner with
MasterCard Worldwide for the provision of increased customer control
and convenience with Mobile Payment applications. This will provide
debit or credit card functionality with NFC technology over the user’s
mobile phone. For transactions of less than a given amount, users need
not provide a signature for transaction completion. ING and MasterCard
Worldwide will be partnering with Collis, Venyon, Toro and LogicaCMG
for the development of the mobile phone NFC solution.

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Brookwood Capital Facilitates a Card Deal

NH-based BROOKWOOD CAPITAL has brokered a credit card partnership between St. Cloud FCU and The Members Group Financial Services. Under this agreement, TMGFS has purchased St. Cloud’s existing credit card portfolio and will issue credit cards for the credit union under the credit union name. This represents the first closed portfolio sale for TMGFS, which announced the founding of its new credit card agent program in 2007. The existing portfolio included more than 2,500 credit card accounts and approximately $3 million in receivables among St. Cloud’s 11,400 members. The credit union has approximately $76 million in total assets.

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PAYMENT CARDS 2006

The Fair Isaac Co and High Mark Credit Information Services of India
have partnered to provide Indian lenders with the Fair Isaac “FICO”
credit risk scoring. The “FICO Score” solution provides credit
markets with a reporting system, credit risk scoring technology to rank-
order consumers based on credit risk and provides lenders with a tool to
meet Basel II regulatory compliance requirements. The alliance with the
credit bureau partner is in addition to recently signed agreements with
Information Group in Singapore and with Korea Credit Bureau
in the Republic of Korea. The High Mark technology platform helps
financial institutions in the Indian Market make better credit decisions
while Fair Isaac Corporation applies advice, analytics and applications
to help businesses around the world make credit decisions.

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FICO Scoring Comes to Indian Consumers

Fair Isaac and High Mark Credit Information Services of India have partnered to provide local lenders with the Fair Isaac “FICO” credit risk scoring. The “FICO Score” solution provides credit markets with a reporting system, credit risk scoring technology to rank- order consumers based on credit risk and provides lenders with a tool to meet “Basel II” regulatory compliance requirements. The alliance with the credit bureau partner is in addition to recently signed agreements with Information Group in Singapore and with Korea Credit Bureau in the Republic of Korea.

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SHINSEI ATMS

Shinsei Bank has announced plans to install its ATMs at the “SUVACO
JR Kyoto Isetan” West Japan Railway Station to operate from 5:30 a.m. to midnight. The ATM accepts the “Shinsei
PowerFlex” ATM card free of charge to allow cardholders to conduct
deposits, withdrawals and balance inquiries. Additionally, the ATM is
accepts cards with the “PLUS”, “Cirrus” logos and cash cards issued
by partner financial institutions.

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CMI Moves Down for the 5th Straight Month

The seasonally adjusted “Credit Manager’s Index” fell for the fifth consecutive month in January, slipping one point to a record low of 51.4. The previous record had been set last month at 52.4. Five of the index’s 10 components fell, and both the manufacturing and service indexes declined, indicating that the weakness was widespread although not terribly deep. The MD-based National Association of Credit Management says the CMI’s steady decline has mirrored other macroeconomic data which suggests a sharp slowdown including terrible holiday sales, massive job losses in housing and in financial services, downtrends in volatile global financial markets, downgrades of bond insurers and many debt instruments, the Fed overreacting with cuts of 1.25% in eight days and an emergency stimulus plan in the works.

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RED CROSS & YEEPAY

The Red Cross has partnered with YeePay payment service provider to
provide a disaster relief fund for those currently stranded as a result of
extreme winter weather in China. Reaching from eastern to central China,
recent snowstorms in the country have killed over 60, downed power
lines and caused a severe transportation crisis. Highways, railroads
and airports have subsequently closed, compounded with this being the
busiest travel season across the country, leaving millions of travelers
stranded. In response, not only has the Red Cross established a hotline for
Snow Disaster Relief, this partnership with YeePay will provide an Internet
donation channel. YeePay e-payment service provider is headquartered in
Beijing, China, allowing consumers and businesses to conduct payment
transactions over the Internet, mobile and telephone.

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Borders Launches a Black History Month Card

Borders has released a new gift card that celebrates Black History Month. The new gift card features a portion of the title of a well-known song, “Lift Every Voice and Sing,” along with raised hands and words from the actual song that symbolize triumph over past struggles and to convey hope for the future. The “Lift Every Voice” gift card is the first time Borders has created a special gift card in recognition of Black History Month. The card can be purchased in the stores and online, available in denominations ranging from $5 to $500. The Borders Group is a $4.1 billion global retailer of books, music, movies, periodicals, gift items and stationery items.

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