GIFT CARD REGS

The Consumer Protection Act of 2002 has been amended with Ontario
Regulation to prohibit expiry dates on gift cards issued after October 1,
2007, prohibit up-front fees and to the clear and prominent disclosure of
terms and conditions. Furthermore, with this development, fees can only
be charged for gift card customization and lost/stolen gift cards. The
violation of these amendments subjects individuals to fines of up to
$50,000 and/or imprisonment of no more than 2 years. Corporations are
liable to fines up to $ 250,000.

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Obopay and Yodlee Partner

Mobile payment service provider Obopay has partnered with Yodlee to facilitate instant bank account verification for Obopay customers to immediately link their existing bank account to Obopay. Yodlee’s “Account Verification” lets Obopay users authenticate bank account ownership in real time by entering their online banking user name and password. Yodlee currently provides ownership confirmation for bank accounts at more than 650 financial institutions that carry more than 80% of American account volume. This information is confirmed by Obopay through Yodlee in a matter of seconds. Once confirmed, Obopay users can immediately begin sending money between their Obopay account and their existing bank account.

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FDC INSTANBUL

First Data has recently opened its first office in Turkey and appointed
Dr. Soner Canko as its managing director. Canko has Turkish cards
and payments market experience with Bilesim, as a general manager,
Fortis (Disbank), Citibank, Procter & Gamble and Hewlett Packard
Turkey. Canko is also a Chairman on BKM, the Turkish Interbank Card
Centre. His advanced degrees include a Master’s and PhD degrees in
Economics from Istanbul University. With this development, First Data
expands its presence in Turkey to deliver its global payments expertise
and to provide card and loans processing services, merchant acquiring
solutions, ATM & POS management and risk management.

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Index Shows Consumer Confidence Rebounding

Consumer confidence improved significantly in October after tumbling to a 16-month low in September. The improvement was driven not by significant increases in consumer optimism, but rather a leveling out of pessimism. According to the “RBC CASH Index,” consumer sentiment stabilized across all surveyed areas, with the biggest increases occurring in the areas of economic expectations and current conditions. The “Index” for October hit 80.6, up more than nine points from its 71.1 level in September, but below last October’s 83.1. The “Index” is composed of four sub-indices: “RBC Current Conditions Index;” “RBC Expectations Index;” “RBC Investment Index;” and “RBC Jobs Index.”

RBC INDEX HISTORICAL
Oct 06: 83.1
Nov 06: 92.4
Dec 06: 86.9
Jan 07: 95.3
Feb 07: 103.0
Mar 07: 92.3
Apr 07: 85.4
May 07: 87.1
Jun 07: 81.4
Jul 07: 76.1
Aug 07: 89.3
Sep 07: 71.1
Oct 07: 80.6
Source: RBC Financial Group

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MOLEPOINT EWALLET

PayByCash has signed agreements to process MOLePoint eWallet payments
in Malaysia to provide the Eastern marketplace with payment security.
PayByCash is now providing 70 payment providers with MOLePoints for the
acceptance of most world currencies and the expansion to customers in
over 230
countries. The processor doesn’t charge merchants fees for payment
acceptance
or charge-back fees. MOL AccessPortal Berhad was incorporated in Malaysia
as a publicly listed company in April 2000.

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NetSpend Launches a Vince Young Ed Website

Prepaid provider Netspend has launched a new website featuring football pro Vince Young that provides easy-to-understand tips to parents and teenagers on how to manage money, set goals and implement a budget. The site houses the Vince Young All-Access VISA Prepaid reloadable debit card and provides detailed information on NetSpend’s prepaid products and interest-earning National Savings Program. The NetSpend Prepaid Card Network includes served the un-banked and under-banked markets and its strategic relationships include card issuers, EFT networks and payment card associations.

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TSYS & GARTNER

From Gartner’s “MarketScope for Multiregional Card Management Software,
2007,” TSYS Card Tech has received a positive rating indicating a
recommendation of incremental investment and shortlist placement. With this
development, TSYS Card Tech, a TSYS subsidiary, joins a list of 11 other
companies with a Gartner’s positive-feedback rating. TSYS provides
outsourced payment services around the world for various industries.
Marketscope evaluates marketplaces across a range of industry for
investor information without product endorsement.

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Trustcash to Acquire Card Specialist Paivis

NY-based Trustcash, a specialist in anonymous payment systems for the Internet, announced a deal to acquire Atlanta-based Paivis, a wholesale telecommunications carrier that sells prepaid point-of-sale activated and live cards. Paivis is currently generating approximately $10 million in annual run rate revenue. Products are sold throughout many of the country’s major retail outlets, including Duane Reade, 7-Eleven, and Chevron. Paivis also recently entered into definitive agreements to acquire both Detroit Phone Cards and AAAA 4 Media Services.

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Global Card Services Triples Card Space

Global Card Services has more than tripled its plastic card personalization and card storage operations by adding 55,000-square-feet to its Downers Grove, Ill., facility. With the expansion, Global Card Services can now personalize 2.8 million secure cards and gift cards per day; produce up to 8.4 million drop on demand (DOD) cards per week and store more than 13 million secure cards in its additional vault capacity. Global Card Services is one of eight Vmark companies that offer turnkey solutions to its customers, from form and plastic card printing to personalization and lettershop services.

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TSYS & Discover Sign an Issuer Processor Deal

Discover Financial Services and TSYS have inked an issuer processor agreement. Under the terms of the agreement, TSYS will begin processing prepaid and credit card transactions on the Discover Network. In 2006, TSYS processed 13.2 billion issuing and acquiring transactions for more than 400 million cardholder accounts. Last month, Chase Paymentech began integrating the Discover Network into the merchant boarding process as the first step towards full integration, and expects to rollout the full processing package to its existing merchant customers starting early next year. In December, RBS Lynk completed integration and roll-out of direct Discover Network card processing. Also last year, First National Merchant Solutions agreed to offer its customers Discover card acquiring services. U.S. Bancorp’s NOVA Information Systems signed a merchant acquiring agreement to add Discover Network card acceptance. Additionally, Global Payments and TSYS Acquiring Solutions agreed to expand the card’s acceptance. (CF Library 10/10/06; 12/5/06; 12/18/06; 9/20/07)

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