Notre Dame Stadium Gets blinked by Chase

Chase Card Services, a division of JPMorgan Chase & Co., and the University of Notre Dame announced the acceptance of blink at Notre Dame Stadium and the Joyce Center. Cardmembers will be able to use their Notre Dame Visa® Card with blink at more than 60 concession stands throughout the campus, allowing them to get back to the excitement of the game and spend less time in line.

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Sears Consolidates with Chase Paymentech

Chase Paymentech has signed an expanded, multi-year contract to provide payment processing services for all Sears’ retail businesses, which include Sears, Kmart and Lands’ End. Sears wanted to consolidate all its payments acceptance. Sears Holdings is the nation’s fourth largest broadline retailer, with approximately $50 billion in annual revenues, and with approximately 3,800 full-line and specialty retail stores in the U.S. and Canada. Chase Paymentech Solutions processed approximately 18.2 billion payment transactions, with more than $660.6 billion in annual bankcard and debit volume.

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AmEx Officially Names Henry as CFO

American Express has named Daniel T. Henry, currently serving as acting CFO, to EVP and CFO. In this role, he will be responsible for leading the Companyâ™s Finance organization and representing American Express to investors, lenders and rating agencies. Prior to February of this year, Henry was EVP and CFO of the U.S. Consumer, Small Business and Merchant Services Group. He joined American Express in 1990 as Comptroller and worked closely with the Company for several years prior to that as a Partner at Ernst & Young. Henry holds an MBA from Hofstra University.

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SIM NFC TRIAL

Gemalto & Far EasTone Telecommunications have partnered for the
launch of their mobile contactless SIM-based NFC trial in November.
This will allow subscribers of Far EasTone to make purchases using
their mobile handsets with any of the company’s merchant partners. This
trial is being launched in conjunction with a trial for “smart posters”,
which
promote and allow shoppers to download coupons by waiving their NFC
phone in front of the poster promotion for a discount application at the
time of purchase. Commercial rollout for the solution will not be until
2008 and will gradually be introduced, initially, by 7-Eleven, Shin Kong
Mitsukoshi department store, vending machines from HeySong and rail
transport operated by Kaohsiung Rapid Transit Corporation. Gemalto
had 2006 annual revenues of EUR 1.7 billion with over 85 offices in 40
countries and nearly 10,000 employees while Far EasTone
Telecommunications is a wireless service provider in Taiwan.

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MICROS & CARA

MICROS has signed with Cara Operations Limited to provide its “Pay-at-
the-Table MICROS 3700” solution for implementation between October
of 2007 to the Summer of 2008. The MICROS “3700” solution eliminates
customers’ fear of fraud (never having to relinquish card possession),
reduces
wait time, is integrated with a mobile payment device from VeriFone
Holdings
and reduces processing fees. MICROS solutions are currently in use at 425
Cara locations throughout North America with 5 of the corporations’ division
brands. The company is a restaurant and airline services organization
operating
such restaurants as Swiss Chalet Rotisserie & Grill, Milestones Grill
and Bar,
Montana’s Cookhouse, Kelsey’s Neighborhood Bar & Grill, Harvey’s and
Airline Solutions. Additionally, MICROS has over 220,000 systems installed
for retail operations and 20,000 management systems for hotels in over 130
countries.

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Debit Card Patent Valued at $3.7B

Chicago-based Card Activation Technologies reports that an independent valuation of the market value of its debit card processing patent is more than $3.7 billion. Card Activation Technologies also said that the company’s Form 211 application has been filed with the NASD for a listing of the shares to be traded on the OTC Bulletin Board. The valuation of the company’s patent was completed by IL-based Chapin Associates.

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MAYBANK & MONEYGRAM

Previously only available at 58 Maybank branches, the bank has extended
MoneyGram’s transfer service to over 400 of its branch offices. The service
allows global remittance in as little as ten minutes requiring the
remittance
sender to fill a form, pay a fee and the accepter to possess valid
identification
and/or the transaction reference number. With $1.16 billion in revenue for
2006, MoneyGram International has 125,000 global money transfer locations
in 170 countries and territories.

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Consumer Spending Confidence Rises

Spending confidence by consumers rose in September after hitting a low point in mid-August. The data also show that more consumers plan to spend the same in October versus September. The only sign of spending caution is the continued downward trend in spending more. Consumers willing to spend more dropped 25% over the last five months. The “Discover U.S. Spending Monitor” stood at 95.9 for the month compared to the August level of 94.8. A factor that may have been affecting spending confidence in September is the decreasing pressure that household expenses like groceries, gas and utilities are having on consumers’ budgets. In September, over 35% of consumers said they would spend more on such expenses next month compared to over 37% in August.

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VSS & TRANZACT

Veronis Suhler Stevenson has announced its acquisition of
TRANZACT from Halyard Capital for $185 million. TRAZACT acquires
customers for financial services and communications companies using an
“alignment of interest” compensation, an integrated approach with
multi-channel marketing through the deployment of technology to manage
consumer data records. With this model, TRANZACT aims to evolve
marketing solutions for measurement of and accountability for marketing
dollars invested, assist in Internet navigation and to collect and utilize
data. VSS is a private equity firm with investment in over 54 companies
with unrealized enterprise values of over $12 billion.

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Average Debit Transactions Rise 38% Y/Y

A new study has found over the past five years, consumers’ average PIN-secured debit point of sale activity has grown from nine transactions per month to 11, while the average total number of signature debit point of sale transactions made monthly has increased 38% in the last year, from 13 to 18 transactions per month. The annual report from First Data’s STAR Network also found that when asked the reasons behind choosing one form of payment over another, consumers rated security as the most important attribute for any payment method, followed by control over money, fee avoidance, and ease of use. According to the survey, the debit card has the second highest preference for smaller purchases, with preference rising steeply and making it the most preferred payment method for purchases between $25 and $50. At $50, credit cards and debit cards have nearly equal and predominant levels of preference. More than half of those using PIN-secured debit for purchases report spending more than when paying for purchases using cash or checks.

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CUP & EUROPAY

China Unionpay and Europay Austria have signed acquiring
agreements for European transactions. With this agreement, CUP cards will be acceptED at Europay POS terminals and ATMs at locations across
Europe. This expands Europay Austria’s network considerably, citing that
CUP has over 1.2 billion cards currently in circulation and a growing number
of the organizations’ customers are visiting Europe. CUP has 24 branches
and 185 members, 31 of which are overseas financial institutions. Europay
Austria provides cashless payment services and has over 95,000 merchants.

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NYCE Launches a Mobile Banking Service

NYCE Payments Network is launching the first commercially available mobile banking service from a U.S. debit card payments network. Monitise Americas and Metavante signed an agreement through which NYCE will deliver the Monitise Americas platform directly over its existing network architecture. Monitise Americas is a mobile banking and payments system for North America formed by the joint venture between Metavante and Monitise. NYCE will deliver a mobile banking and payments service designed to be compatible across multiple mobile carriers, so most consumers would be able to use the service without having to switch carriers or handsets. Planned services include balance inquiries, funds transfers, mini-statements, text message alerts, and bill payment. Several financial institutions will launch services beginning in the fourth quarter of this year.

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