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.

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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.

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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.

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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.

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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.

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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.

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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.

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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

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Heartland Payment Systems’ Q3 Profits Up 16%

NJ-based Heartland Payment Systems reported that total revenues for the third quarter were up 21% to $355 million. Net income for the quarter jumped 16% to $12 million. Processing volume for the third quarter increased 20% to $14.1 billion from 3Q/06. The Company’s active merchant count rose to 158,000 at September 30th, a 19% increase over the past twelve months. Same store sales at its installed base rose 3.6% during the quarter. Heartland noted that 86% of new merchants installed and 76% of total transactions were on “HPS Exchange.” The Company says it is also now expecting net revenue (total revenues less interchange, dues and assessments) to grow by approximately 21% and operating income as a percentage of net revenue to be approximately 21%, both for the full year 2007. For complete details on Heartland Payment Systems’ third quarter performance visit CardData ([www.carddata.com][1]).

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

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41% of Consumers to Reduce Holiday Spending

Deloitte’s “22nd Annual Holiday Survey” of retail spending and trends shows that 41% of consumers expect to reduce their spending this holiday season. Only 57% of consumers surveyed said the economy will improve or remain the same next year. However, 85% say they feel secure about their jobs, which is about even with last year. Surprisingly, the recent credit crunch was not cited as a primary reason for spending less this year. For the fourth straight year, gift cards are expected to be the top gift purchase, with 69% of consumers surveyed planning to buy them, compared with 66% last year. In addition, holiday shoppers are planning to buy even more cards this year: an average of 5.5 cards, compared with the 4.6 cards they planned to buy last year. One in six consumers plan to buy 10 or more cards, compared with 11% last year. Consumers are also spending more in total on gift cards and more per card: $36.25 per card on average compared with $30.22 last year.

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