CITI INTL 3Q/07

Citigroup reported that its international card business third quarter net income soared to a record $647 million. Revenues of $2.85 billion jumped 88%, primarily driven by higher purchase sales and average loans, up 37% and 52%, respectively, improved net interest margins, and a $729 million pre-tax gain on the sale of Redecard shares. Excluding the gain, revenues increased 40%. Credit card outstandings as of September 30th were $43.4 billion, up 54% year-on-year. Loan balances grew at a double-digit pace in Mexico, EMEA, Asia, and Latin America. The account base grew 16% year-on-year to 35.6 million compared to one-year ago. Purchase volume for the third quarter was $28.0 billion, a 37% increase year-on-year. Delinquency (90+ days) dipped sequentially to 2.22%. Charge-offs were 5.62% compared to 4.22% in the prior quarter and 5.01% for the year ago quarter. For complete detail’s on Citigroup’s international cards performance, visit CardData (www.carddata.com).

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Comdata Q3 Revenues Rise Nearly 14%

Minneapolis-based Ceridian reported that its third quarter revenues rose nearly 7% to $412 million, while its payment processing and card issuing subsidiary posted about 14% gain over 3Q/06. The Comdata subsidiary, which primarily serves the trucking and retail industries, reported $140.6 million in third quarter revenues. Overall growth in the transportation business was in the mid-single digits on a percentage basis, driven primarily by strong “BusinessLink” transaction growth in both the over-the-road and business fleet markets, private label processing and in regulatory compliance. Over-the-road trucking transactions were up about 1%. Organic growth in the retail services business was above 20%, driven primarily by robust demand for gift cards. In May, Ceridian announced that Comdata will be going private following a merger deal with Thomas H. Lee Partners and Fidelity National Financial in an all cash transaction valued at $5.3 billion. The deal is expected to close this quarter. For complete details on Ceridian/Comdata’s third quarter performance, visit CardData ([www.carddata.com][1]). (CF Library 5/31/07)

COMDATA REVENUES
3Q/06: $123.8 million
4Q/06: $121.3 million
1Q/07: $117.4 million
2Q/07: $133.5 million
3Q/07: $140.6 million
Source: CardData (www.carddata.com)

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

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CODA 2CONTROL

In response to research reflecting its necessity, CODA finance systems
has made available its CODA “2control Expenses” expense report
automation. An Aberdeen Group survey of 377 companies found that
manual expense systems costs twice as much for claim processing as
automated claim processing and based on 60,000 reports processed
annually, this new solution can save a company GBP480,000 per year
and improve control, efficiency and accuracy by streamlining the
authorization processes. CODA has around 600 employees working at
18 offices in 14 countries and provides software for 2,600 organizations
in over 100 countries.

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MasterCard Wins AFP Pinnacle Award Grand Prize

MD.based The Association for Financial Professionals and Wachovia has announced MasterCard Worldwide is the 2007 AFP Pinnacle Award Grand Prize winner in the Strategy, Innovation and Risk categories for their implementation of a corporate-wide “Enterprise Risk Management” (ERM) system. The MasterCard Worldwide team success was in the development of a reporting structure of roles and responsibilities that enabled a company-wide system of checks-and-balances expanding the capabilities of their ERM system. As a result, MasterCard experienced a reduction of key risks, risk-weighted decision-making and transparency of risk reporting. AFP provides professional certification, continuing education, research, development of industry standards, financial tools and publications, training and career development and representation to legislators and regulators.

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CWT & MASTERCARD

Carlson Wagonlit Travel (CWT) has joined with Mastercard to launch a data
program to provide consistent, accurate data on travel and entertainment
for customer-tailored products. The data solution will provide an
integrated,
card-based global network to allow MasterCard issuers to provide access,
analysis and complete data related to a company’s travel program and savings
for CWT clients with MasterCard corporate cards. MasterCard Worldwide
processes over 16 billion transactions annually and serves customers in
more
than 210 countries and territories with its Maestro, Cirrus and MasterCard
products. Carlson Wagonlit Travel (CWT) is present in more than 150 countries
and serves companies by providing service and assistance to travelers. The
company employs 22,000 and had a 2006 sales volume US$20.5 billion.

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First Data to Offer MC’s Payment Gateway

First Data has agreed to make the new “MasterCard Payment Gateway” available to its network of 3.5 million U.S. merchant locations. The new gateway is an enterprise-wide payment processing platform for routing commercial payments between buyers, suppliers and their financial institutions. The new “MasterCard Payment Gateway” can manage multiple payment types, including card and EFT and is part of MasterCard’s continuing effort to improve the payments process for businesses of all sizes, and revolutionize an industry traditionally dominated by check payments and wire transfers. Other features include: single interface for all payment processing needs; user interface/Web portal for payment status reporting; end-user integration; payment rules engine; supplier directory, and enhanced remittance information regardless of payment type.

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GEMALTO & SEB GERMANY

Gemalto digital security is supplying SEB Germany with their
Internet credit card personalization solution, “CardLikeMe”, allowing
customers to personalize their credit cards with any picture and
illustration they choose. The website solution will also allow customers
to choose from a range of standard images. SEB Germany serves
400,000 corporate customers and institutions and 5 million private
customers, 1 million of which are German, with financial products.
Gemalto digital security had 2006 annual revenues of EUR1.7 billion
and employs nearly 10,000 through its 85 offices in over 40 countries.

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NYC Taxi Drivers Launch a 2nd Strike

About 10,000 New York City taxi drivers are striking again today over new rules that require them to install credit card readers and GPS technology in their medallion cabs by October 1st. The New York Taxi Workers Alliance says the new card readers are unreliable and the card fees as well as lost fares may reduce their income by at least $1,000 per year. They also say the GPS system is unfair. Beginning October 1st, upon their next scheduled inspection all New York taxis are mandated to have technology-based customer service improvements that will include credit/debit card acceptance and an interactive electronic passenger map and information screen. The Taxi Workers Alliance has about 8,000 to 9,000 members. There are about 45,000 licensed drivers registered with the Taxi and Limousine Commission.

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TNB Expands its Texas Bay Area CU Contract

Texas Bay Area Credit Union is consolidating all card processing, from credit cards to PIN debit and ATM transactions, to TNB Card Services. The Pasadena, Texas-based credit union has been using TNB for its credit card processing and signature debit for more than 30 years, and recently decided to move its PIN debit and ATM processing. Texas Bay Area Credit Union serves the communities of Pasadena, Deer Park, La Porte, and the North Channel area near Houston with more than 24,000 members and assets in excess of $189 million.

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PayPal Data Services Opens in Austin

PayPal announced the official grand opening of its new technology center in Austin, Texas. PayPal is the safer, easier way to pay and get paid online. The service allows anyone to pay without sharing financial information and gives consumers the flexibility to pay in any way they prefer, including through credit cards, bank accounts or account balances. PayPal Data Services, Inc. is a wholly-owned subsidiary of PayPal with more than 164 million accounts in 190 markets and 17 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company.

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Washington Trust Renews NYCE for PIN Debit

NYCE announced RI-based, Washington Trust Company has agreed to a long-term NYCE Network participation renewal, which names NYCE as its sole provider of retail PIN debit and domestic ATM card access. Washington Trust has16 branch offices located in Rhode Island and southeastern Connecticut. The NYCE Network provides consumers with secure, real-time access to their money connecting the accounts of more than 74 million cards with 280,000 ATMs and 1.5 million point-of-sale locations nationwide.

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