Western Alliance Net Income Up 40% from Q2

NV-based Western Alliance Bancorporation reported third quarter net income of $11.1 million, up 39.5% from 2Q/07, but down 4.2% from 3Q/06. The Bank also announced that Kenneth Vecchione has been elected a Director. He is the former Vice Chairman and CFO of MBNA with prior work experience at AT&T Universal Card, First Data Corp and Citicorp Credit Card Services. He will commence his new responsibilities as CFO of Apollo Global Management on October 29th. Western Alliance Bancorporation is the parent company of Bank of Nevada, First Independent Bank of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Alta Alliance Bank, Miller/Russell & Associates, Shine Investment Advisory Services, Premier Trust, and PartnersFirst. For complete details on Western Alliance’s third quarter performance visit CardData ([www.carddata.com][1]).

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

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Cellular South Completes WirelessWallet Pilot

San Diego-based Kyocera Wireless reports the successful field-testing of handsets used in a “WirelessWallet” consumer trial by Cellular South. Cellular South conducted the three-month trial in Jackson, Miss. and Memphis, Tenn. with partners Bank of America, ViVOtech and Mpact, Inc. A post-trial survey found that 87% of “WirelessWallet” testers are interested in using the mobile payment technology when it becomes commercially available. The survey, conducted by Insights Research Group, also revealed that more than 75% of testers were satisfied with their “WirelessWallet” transactions.

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NAUTILUS & CPSB

For its 32,000 bank branches, China Postal Savings Bank (CPSB) has
signed agreements with Nautilus Hyosung for the deployment of
“NH 5050” ATMs. Nautilus Hyosung plans to deploy 3,000
“NH 5050” ATMs this year which have been recognized at the China
International Exhibition on Financial Banking Technology & Equipment in
2006. Despite the company’s late 1997 market debut, Nautilus Hyosung
has been able to succeed with innovative designs and are intent on
expanding their presence in the financial industry.

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First Data Acquires Canada’s POSTNET

First Data has announced its acquisition of POSTNET, which provides merchant acquiring and payment processing for all forms of payment across Canada. POSTNET provides merchants with POS solutions, Internet payments, emerging payments, authorization, settlement, reconciliation, chargeback administration, fraud prevention, reporting management and customer service. First Data also has a merchant acquiring business in Argentina and Uruguay named POSNET.

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U.S. Bank Purchases AIMS Logistics

U.S. Bank has purchased AIMS Logistics to operate as part of the “PowerTrack Payment Network” within its Corporate Payment Systems division. Under the purchase agreement, AIMS Logistics will operate as part of the PowerTrack Payment Network within the Corporate Payment Systems division of U.S. Bank. Terms of the purchase, which closed on October 1, were not disclosed. AIMS Logistics is a provider of freight audit and payment services. PowerTrack provides trusted commercial payment solutions for payables, receivables, freight, telecom, utilities, and global trade payments.

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ChoicePay and IPP Integrate Payment Solutions

ChoicePay and IPP of America have teamed to integrate IPP’s “Payment Settlement Network” with ChoicePay’s self-service capabilities. IPP’s Payment Settlement Network will be integrated into ChoicePay’s self-service capabilities. IPP will offer ChoicePay’s full suite of electronic payment and presentment services to clients, including multiple online and phone payment options. ChoicePay will include IPP’s walk-in payment solutions as part of their current bill payment offering as well as leverage IPP’s authorized national biller relationships on the Vcom and ChoicePay kiosk networks – increasing ChoicePay’s same-day payment capabilities to national billers. Vcom is the nation’s largest multi-biller payment kiosk network located in over 1,000 select 7-Eleven store locations while the ChoicePay kiosk network is available at strategic sites. IPP of America Inc. is a provider of electronic payment services.

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SWAROVSKI MASTERCARD

MasterCard will be sponsoring the live fashion and music event, Swarovski
“Fashion Rocks for The Prince’s Trust 2007”. This sponsorship includes the
issuing of a limited edition prepaid MasterCard gift card with a value of
GBP50 and a Swarovski “Fashion Rocks” prepaid MasterCard “PayPass”
card to guests for use on the night of the event. “PayPass” is meant for
use of everyday purchases of GBP10 or less and can be added to any
MasterCard and Maestro credit, debit or prepaid card. Over 16 million
PayPass cards can be used at 55,000 merchant locations around the world
and is on trial in 19 countries. MasterCard Europe works with 51 European
countries, is organized into three customer areas and implements the SEPA
platform.

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Australian Credit Card Debt Rises 11%

Credit card debt climbed again in August setting a new record of A$41.1 billion. Credit card volume also soared by A$600 million over the previous month. Credit card debt rose 11%, compared to August 2006. Credit card limits also reached a new high at A$110.9 billion, marking the 12th consecutive month of A$100+ billion. Card volume was A$18.1 billion during August, compared to a previous record of A$17.5 billion set in July, according to the Reserve Bank of Australia. Credit card volume is up 10% year-on-year. One-year ago credit card debt stood at A$37.0 billion. There are currently 13.7 million credit card and charge card accounts in Australia, compared to 13.0 million one-year ago.

CREDIT CARD HISTORICAL
(A$ billions)
MONTH BALANCES VOLUME
Aug 06: 37.0 16.5
Sep 06: 37.2 15.4
Oct 06: 37.3 16.4
Nov 06: 38.0 16.4
Dec 06: 39.0 17.1
Jan 07: 37.3 15.3
Feb 07: 39.5 15.3
Mar 07: 39.5 16.6
Apr 07: 39.6 15.3
May 07: 40.2 17.4
Jun 07: 40.8 16.5
Jul 07: 41.0 17.5
Aug 07: 41.1 18.1
Source: Reserve Bank of Australia

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CITIBANK & COSMOTE MOBILE PAYMENT

Citibank Romania SA and COSMOTE have signed agreements to allow
COSMOTE subscribers to pay mobile phone bills through Citi branch
locations for the provision of the “payment center” model. The customer
is to bring the invoice for payment to the center, which is then
registered in
the system and confirmed. The “UniKasa” system is free of
charge and available to those who are not Citi personal account customers.
Citibank Romania S.A. operates through 8 branches, 31 CitiFinancial
branches and 38 direct sales centers while Citi has nearly 200 million
customer accounts in over 100 countries. COSMOTE Romania has over
2.2 million users with over 770 COSMOTE shops in its national sales
distribution channel.

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GSMA & WU

The GSM Association and Western Union (WU) have signed collaborative
agreements for the development of cross-border payments for their “Mobile
Money Transfer” service. Anticipated to launch in mid-2008, the
collaboration
is intent on developing a service to allow consumers to send and receive
low-denomination, high-frequency money transfers through mobile phone
service over a conventional and regulated system. The system will use the
existing Western Union global money transfer system in conjunction with
the users’ “mobile wallet” software over a cross-border remittance network.
The “Mobile Money Transfer” system transfers money to or from these “mobile
wallets” to WU Agent locations where it can be distributed as cash. The
solution is being implemented by 35 GSMA operators in over 100 countries
for 800 million customers. Specifications of the product launch are to be
disclosed at the Mobile Asia Congress in mid-November. The GSM
Association represents over 700 GSM mobile phone operators in 218
countries and is supported by over 200 manufacturers. Western Union
operates on a network of more than 312,000 Agent locations in over 200
countries around the world.

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MOBICASH

Mobilians International fraud management will be implementing its mobile
online payment method ” MobiCash” in the United States. The online
payment method allows consumers to purchase retail items and services
with the use of a mobile phone over a secure platform that does not require
the transmission of any personal account information, such as card or
account numbers. This will eliminate fear of online payment fraud while
expanding market reach to consumers without credit cards and to those
who fear Internet credit card information disclosure due to potential
phishing, pharming, and identity theft. Mobilians International develops
and
provides mobile payments and e-commerce solutions that offer secure
payment methods of online transactions with mobile phones and mobile
phone accounts (rather than credit card accounts).

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AUG DEBT

Credit card debt climbed again in August setting a new record of A$41.1 billion. Credit card volume also soared by A$600 million over the previous month. Credit card debt rose 11%, compared to August 2006. Credit card limits also reached a new high at A$110.9 billion, marking the 12th consecutive month of A$100+ billion. Card volume was A$18.1 billion during August, compared to a previous record of A$17.5 billion set in July, according to the Reserve Bank of Australia. Credit card volume is up 10% year-on-year. One-year ago credit card debt stood at A$37.0 billion. There are currently 13.7 million credit card and charge card accounts in Australia, compared to 13.0 million one-year ago.

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