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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PAYTER PILOT PROGRAM

Payter has connected the 500th consumer with its 6-month-long mobile
payment program pilot in the Netherlands. In the near future, It is
anticipated that another 500 will join the program, which is providing
mobile payment for 50 retail outlets in the Rotterdam area. The program
allows a consumer to use their mobile phone as an electronic wallet
which can be used with all bank cards, credit cards and other payment
systems. By 2008, the program will be implemented nationwide, soon to
be followed by continental-wide expansion. Payter develops technological
applications for multi-industry expansion for consumers and retailers,
active both in the development and rollout of their solutions.

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MINSHENG BANK & ET-CHINA.COM

Et-China.com has signed marketing agreements with the China
Minsheng Banking Corporation (‘CMBC’) for the bank’s co-branded
credit card to launch by November of 2007. This marketing agreement
will create potential business for Et-china’s frequent independent
traveller
(‘FIT’) activities in addition to promoting CMBC’s new card. Promotion
of the new card includes direct mail material to existing customers along
with monthly statements. The banking corporation currently has 2.7 million
credit card users with operations in 23 cities in China through its 287
branches and offices. The company had total assets of RMB 700.4 billion
and total deposits of RMB 583.3 billion by the end of 2006.

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HSBC & PAYZONE

Payzone and HSBC Bank have jointly launched a solution to provide
retailers with electronic funds transfers (EFT) for credit and debit
transactions. The EFT solution requires no exclusivity contract, a
signature
and 5 days to establish service. Furthermore, the service was designed to
save retailers costs. According to experts, the service can save users
GBP400 monthly with the elimination of origination fees, terminal rates,
telephone line rental fees and an average of 9p less on card transaction
processing fees.

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DATACASH & EUROCOMMERCE

DataCash Group payment service provider has completed its purchase of
EuroCommerce Call Center Solutions for between EUR4.2 million and
EUR8.7 million. EuroCommerce provides payment processing services for
travel booking companies. DataCash does not expect to see profitability
from the acquisition until after 2008 and is confident in the decision to
purchase the company with its additional resources in the global travel
market. On top of purchasing EuroCommerce, DataCash has lent the
company EUR4 million for debt relief.

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WESTPAC ATM

For the blind and visually impaired, Westpac has installed a
voice-simulating
ATM at the Auckland Domestic Airport with the implementation of a series
of audio cues. In conjunction with the Association of Blind
Citizens of
New Zealand, the bank has implemented this initiative to provide this
demographic with an important service. The cues provide balance disclosure
and instructions on money withdrawal through either the user’s personal- or
bank-issued-headphones, compatible with the 35mm audio jack on the
machine.

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EU COMPETITION LAW

The European Union Commission has concluded that Groupement des
Cartes Bancaires (CB) has violated the EC Treaty competition law of
Article 81 with its adoption of certain price measures. The practices in
question were found to limit the availability of affordable cards with the
imposition of charges to restrict competition in the French payment card
market. Consequently, the Groupement has been imposed upon with
demands to cease the violation immediately. Furthermore, the Groupement
management are to pay losses under certain conditions based on the
number of cards issued. The Groupement officially ceased the practice
in question in 2004, pending further investigation into the matter from the
EU Commission. The effects however are still found, especially in the
restriction of major banks issuing fewer cards with less competitive rates.
Groupement des Cartes Bancaires manages the system of payments by
“CB” card, accounting for over 70% of card payments in France, and has
nearly 150 managing bank members.

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