NFC REPORT

According to Juniper Research, 52 million additional customers will begin
using mobile payment methods, such as NFC, by 2011 for a projected
industry-wide revenue of $11.5 billion. This will result in support for
contactless payment in 12% of the total mobile phones in circulation.
Further Juniper research shows that mobile payment applications and
services are already available in most regions of the Far East and the
US, which are the 2 most receptive of regions, and to remain competitive
mobile payments companies are advised to implement these payment
solutions for mobile handsets. Juniper Research assesses conditions in the
mobile payments market with interviews, case studies and analysis of the
industry.

Details

MASTERCARD 3Q/07

MasterCard posted record net income of more than $314 million for the third quarter compared to $193 million one-year ago, as net revenues climbed 20% to more than $1 billion for the quarter. In the prior quarter, MasterCard earned $252 million on revenues of $997 million. Gross dollar volume climbed 13% for 3Q/07 to $577 billion and worldwide purchase volume increased 14% to $430 billion. As of September 30th, the Company’s customers had issued 878 million MasterCard, an increase of 11% over the same period in 2006. General & Administrative Expenses rose 10% to $432.8 million. However, Advertising & Market Development Expenses rose about 26% to $268.3 million. Total operating expenses increased 16.3%, to $730 million, in the third quarter compared to the same period in 2006. For complete details on MasterCard’s third quarter performance, visit CardData (www.carddata.com).

Details

CITIBANK PHOTO CARD

Citibank has launched its photo embossed debit card in Hungary
to provide customers with an increased level of security. The new
product features a photograph of the card holder printed directly on
the card. Citibank MasterCard embossed debit cards will allow users
to conduct secure transactions at 23 million locations in 210 countries
in addition to the photo embossed credit cards which have been available
to Hungarian customers since 1999. The Citi corporation provides
financial products and services in more than 100 countries and has nearly
200 million customer accounts around the globe.

Details

E-PAY ASIA EXEC

E-Pay Asia has appointed James Huey, 64, as a non-executive director
bringing with him over 40 years of experience. James has been employed
with Westpac Banking Co and, most recently, with New South Wales
Bank as GM. He is currently a member of the Australia China Business
Council, Australia Fiji Business Council and the American Chamber of
Commerce in Australia. Huey’s advanced education includes a B.Sc. degree
from the University of Manchester (UK). Furthermore, the newly
appointed director is currently a Trustee of the Committee for Economic
Development of Australia and contributes to directing such organizations as
Paymate Pty Ltd, Resimac Limited, Chinasourcing Company Limited,
Petroflow Solutions Pty Ltd, OzzyConnect Limited, Silverwood Corporation
Pty Ltd and the Advisory Board of Sabina Corporation Ltd.

Details

BT-BANK MACHINE CONTRACT

BT and Bank Machine have signed a contract for the expansion of BT’s
payphones by 125 units before 2012. This expansion will be in addition
to the already 250 units currently in service across the country that offer
no-fee ATM access in high traffic areas. Bank Machine is a division of
Cardtronics and has a total of 1700 ATMs in service at stores, mall and
cinema locations with over 80 employees while BT has operations in 170
countries.

Details

CONSUMER CREDIT ACT

As a means of providing protection to consumers regarding their
credit accounts, the House of Lords has recently made a ruling on
Section 75 of the national Consumer Credit Act. The ruling is
welcomed by the payments industry as a modernization that accounts
for increased credit card use and the subsequent need for customer
protection over the past years. Companies in the industry have
been pushing for this reformed legislation for an extended period of
time and are pleased with the outcome.

Details

WINCOR NIXDORF RUSSIA

Wincor Nixdorf has established its Russian subsidiary in response to
the growing competition among banks and retail outlets throughout the
country. Vying for the perfect balance of customer service and
efficiency, 11 of Russia’s 20 major banks are now Wincor Nixdorf
clients. Furthermore, the ATM market share in Russia has increased
by 26% since 1997 while the POS system market share has
skyrocketed by 41% over the same period. Russia currently has 256
ATMs and 456 electronic POS systems per one million people,
figures that are growing rapidly and, thus, increasing competition in the
financial markets.

Details

MasterCard Rolls-Out Joy of Giving Promotion

MasterCard has launched a 2007 holiday promotion entitled, MasterCard “Joy of Giving.” The promotion, which runs through January 2nd gives consumers a chance to win two identical prizes – one to keep and the other to give to someone who matters most – via a “Sweepstakes” and an “Instant Win Game.” MasterCard cardholders use their MasterCard credit or debit cards for qualified purchases during the promotion period at U.S. merchants, to be entered in the “Sweepstakes” for a chance to win. Consumers will receive double entries into the sweepstakes every time they use “MasterCard PayPass” cards or use their MasterCard cards at the approximately 900 participating Best Buy stores in the U.S. or BestBuy.com. In addition to the “Joy of Giving Sweepstakes,” consumers can also participate in the “Instant Win Game” on priceless.com. Consumers can play up to ten times per day, every day, for a chance to win two identical “Gift Cards” from MasterCard or Best Buy. There will be one instant winner each day of the promotion.

Details

Global Cash Access Names a New CEO

Global Cash Access has named Scott H. Betts, previously EVP with First Date, as President, CEO and interim Chief Financial Officer. Betts will be succeeding Kirk Sanford who has announce his retirement from the company. Betts joins the company after five years with First Data Corporation (FDC), where he was Executive Vice President, President of Domestic Enterprise Payments. In 2004 Betts had responsibility for GCA, which was at that time a majority-owned subsidiary of FDC. At FDC, Mr. Betts led over 12,000 employees at 11 major locations in the business unit’s Merchant Services, Check Services, and Debit Services.

Details

VISA & WELCOME

In lower-income areas across the United Kingdom, NatWest Bank and
the Royal Bank of Scotland Group have installed more than 460 fee-free
ATMs with projections on surpassing the 500 mark by 2008. Research
shows that, with the elimination of ATM fees, consumers are saving an
average of GBP7.32 monthly, almost GBP90 per person annually, for a
total of nearly GBP2.1 million per year. Furthermore, the ATMs are
projected to benefit businesses local to the machines by nearly GBP3.3
million a year. The research also revealed that, without the need to
withdraw substantial funds, 39% of consumers felt free ATMs encouraged
wise spending, 63% felt the ATMs discouraged the lure of robbery and
44% of those surveyed felt more safe as a result. Furthermore, nearly half
of merchants claim that the presence of the ATM encourages customers to
spend more, thus contributing to the local economy.

Details

Portfolio Recovery Associates’ Revenue Up 14%

VA-based Portfolio Recovery Associates reported that third quarter net income grew 4% over 3Q/06 to $11.7 million. Total revenue in the third quarter increased 14% to $54.6 million. The Company purchased $2.6 billion of face-value debt during the third quarter for $57.4 million, the third-largest amount the Company has spent on debt acquisitions in a single quarter. The debt was acquired in 59 pools from 23 different sellers. Cash collections rose 9% to $65.2 million in the third quarter. The Company’s fee-for-service businesses generated revenue of $8.5 million in the third quarter, up 40% over 3Q/06. For complete details on Portfolio Recovery Associates’ third quarter performance visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com

Details