CITI REMITTANCE

In response to the growing Polish population in the United Kingdom,
Citibank is offering free money transfers between UK and Polish
Citibank bank accounts with the “Citibank Easy Account”. With its
Polish subsidiary, Citi Handlowy, the “Citibank Easy Account” allows
customers to conduct online transfers to Poland with no monthly fees,
provides a VISA debit card, and access to over 35,000 ATMs with
no surcharge. According to 2006 figures, Polish immigrants sent
EUR 4.5 billion to Poland, which are greatest in numbers in the U.S. with
9 million, in Germany with 2 million and 1 million in the U.K. Countries
with smaller Polish immigrant populations include Canada with 0.5 million,
Italy with 0.1 million and Spain with 0.05 million. Citi has nearly 200
million customer accounts in over 100 countries.

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Target Mulls a Potential Credit Card Sale

Target yesterday confirmed it is reviewing potential ownership alternatives for its $7 billion credit card portfolio and will likely make a decision by the end of year. The company also announced that it will re-evaluate its use of debt in its capital structure. Goldman Sachs has been engaged to advise the company in this review. Target says that regardless of whether or not its review results in a receivables sale, the Company intends to maintain its core financial services operation and remain firmly committed to growing and developing its Financial Services team. Last month, Target reported that pre-tax credit card profits for the quarter ending August 4th increased 34% over the year-ago quarter. Credit card outstandings for the quarter increased 14% year-on-year. Target’s second calendar quarter pre-tax credit card profits were $163 million, compared to $143 million in the prior quarter and $122 million one-year ago. Total credit card receivables, which include its VISA and “Guest” cards, were $6.906 billion as of August 4th, compared to $6.510 billion for 1Q/07 and $6.041 billion one-year ago. For complete details on Target’s latest performance, visit CardData ([www.carddata.com][1]).

TARGET CARD LOAN HISTORICAL
2Q/06: $6.041 billion
3Q/06: $6.148 billion
4Q/06: $6.711 billion
1Q/07: $6.510 billion
2Q/07: $6.906 billion
Source: CardData (www.carddata.com)

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

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SMART DEBIT

The Interac Association reported the completion of the country’s first INTERAC debit card transaction at the point-of-sale terminal using chip technology. The transaction was processed by TD Merchant Services using a BMO Bank of Montreal chip debit card at Mercato Giovanni’s Fresh Food located in downtown Toronto. The chip debit card transaction was conducted in preparation for the Kitchener-Waterloo, Ontario market trial of chip technology which will begin in the fall. Beginning in the fall, merchants and cardholders will start to see the introduction of cards, Automated Banking Machines and merchant terminals that feature chip technology, and within three years, it is expected that the majority of Canadians will be able to fully benefit from this new technology.

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Stockholders Approve Ceridian Sale & Board

Ceridian Corporation has announced that its stockholders approved the adoption of the merger agreement with an affiliate of Thomas H. Lee Partners, L.P. and Fidelity National Financial and reelected all 7 directors The preliminary tabulation indicates that more than 99% of the shares voted were cast in favor of the transaction. The number of shares voted in favor of the transaction represented approximately 74% of the total shares outstanding and entitled to vote at the meeting. On May 30, 2007, Ceridian and affiliates of THL Partners and FNF entered into a definitive merger agreement, pursuant to which THL Partners and FNF would acquire all of the outstanding common stock of Ceridian for $36 per share in cash, subject to certain conditions, valuing the total transaction at approximately $5.3 billion. Ceridian is a human resources outsourcing company.

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SERVERSIDE & DATACARD NOMINATION

Serverside “Virtual Portfolio” and Datacard “Meritas” asset management
software have been jointly nominated for the “Cartes 2007 Sesames Awards” in the “Software” and “Banking/Finance/Retail” categories. “Virtual
Portfolio”
is an Internet card campaign management program for card issuers to issue
both stock and custom cards. The marketing platform also allows the issuer
to assess response rates and customize interface options from the grand
scheme down to minute details. Complimenting the “Virtual Portfolio” well,
“Meritas” provides issuers with inline digital card printing as needed.
This eliminates overhead storage costs, simplifies risk management,and
inventory surplus and deficits. Because this collaboration is
significant to the
process of card production and management, according to experts, they
are jointly worthy of category nomination for the DataCard awards.
DataCard serves customers in over 120 countries. In addition to DataCard,
ServerSide has business allegiance with VISA with offices in London,
Taipei, New York, Chicago and Aukland.

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Capital One Ties Rewards to Savings Account

Capital One has introduced “Capital One Rewards Money Market”, a money market account that offers consumer rewards miles every month based on a savings balance. The new “Capital One Rewards Money Market” account has a competitive interest rate currently at 4.65 percent Annual Percentage Yield (APY), and customers earn one mile for every $20 of average balance per month, including interest. Plus consumers can enjoy the same ‘no hassle’ rewards benefits Capital One has offered for years, including no blackout dates, no seat restrictions, no advance booking or Saturday night stay requirements, and flights on any airline.

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TSYS EUROPE EXEC

TSYS Europe has appointed Arnold Sneijers as European Sales
Director to work out of the Netherlands and oversee all European sales.
With 15 years of experience in the payments industry, Sneijers was
most recently director of commerce and business development at
SiNSYS, following his time as general manager of e-commerce services
for Interpay Nederland B.V. His education includes a bachelor’s degree
in information technology engineering and a master’s degree in business
administration, with a concentration in international management. TSYS
provides outsourced payment services for financial institutions and retail
companies around the world.

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SLIM CD Releases Batch Files for Processing

Software developer SLIM CD has released a batch processing software product called “SLIM Batch. The software contains documentation and examples of file formats. The software can be used to load batch files and send the transactions for processing, or can be run in an unattended environment. The software runs on an IBM PC-compatible, and uses an Internet connection to send the transactions to SLIM CD for further processing. It can be used by merchants or software developers. The SLIM CD batch software supports sending credit card transactions to most major US credit card processors, including First Data, Nova, Vital, Global Payments, Paymentech, Heartland, Fifth Third, and RBS Lynk. SLIM CD, Inc is a wholly owned subsidiary of Online Commerce Corporation (OCC), a privately held E-Commerce service provider.

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VASCO & EID CARD

To strengthen its eID product range, and to penetrate the e-commerce
and e-government markets, VASCO has launched an eID website.
Furthermore, its VACMAN controller & Digipass smart card reader
are now Belgian eID card compatible. The Digipass product line that is now
compatible includes its Digipass 800, Digipass 805, Digipass 810,
Digipass 820, Digipass 840, Digipass 905 and the Digipass 850,
opening the software company to new applications in the secure
payments industry. This development allows VASCO to offer online
banking security to those who shop on the Internet and to the
government sector. VASCO is a supplier of authentication and e-signature
services and has a customer base of over 5,300 companies in more than
100 countries.

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Canada’s Interac Does Smart Debit Cards Tx

The Interac Association reported the completion of Canada’s first INTERAC debit card transaction at the point-of-sale terminal using chip technology. The transaction was processed by TD Merchant Services using a BMO Bank of Montreal chip debit card at Mercato Giovanni’s Fresh Food located in downtown Toronto. The chip debit card transaction was conducted in preparation for the Kitchener-Waterloo, Ontario market trial of chip technology which will begin in the fall. Beginning in the fall, merchants and cardholders will start to see the introduction of cards, Automated Banking Machines and merchant terminals that feature chip technology, and within three years, it is expected that the majority of Canadians will be able to fully benefit from this new technology.

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INDIANOIL CITIBANK CARD

IndianOil and Citibank have launched the “IndianOil Citibank” debit
card, India’s first co-branded debit card available across 15 existing
cities for new and existing banking customers. The card operates on
MasterCard’s Maestro platform and provides debit and ATM functions,
as well as online account access for customers. Other
benefits of the card include no transaction fees when used at IndianOil
retail outlets, 2 reward points awarded for every Rs. 100 spent at the
retail outlets using the card, points to be redeemed for free petrol
and special offers on auto maintenance accessories. The card has been
met with success in India, reflected with the recent award from
MasterCard’s “Excellence in co-branding in South Asia”. IndianOil has
a combined capacity of 38.15 million tons per annum in oil with a
combined length of 6523 kms of pipeline at a capacity of 43.45 million
mts per annum. In total the petroleum company holds 53% of the petro
products market share in the country. Citibank India has over $ 5 billion
of custody assets under management and was the first to launch credit
cards in the country with over 1.6 million card members.

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Marriott and VISA Launch a New Promotion

Marriott has rolled out the new “MegaBonus” promotion when member use VISA to book rooms, they can earn up to 10,000 bonus Marriott Rewards points. Members earn 2,500 bonus Marriott Rewards points with every Visa-paid stay, beginning with their second stay, up to 10,000 points. To become eligible for this popular offer, members must register for the MegaBonus promotion at MarriottRewards.com or by calling 1-888-MARRIOTT (627-7468). Members may register at any point during promotion. Once registered, members can log onto MarriottRewards.com/PromoProgress to view their bonus progress. Points may be redeemed for hotel stays, frequent flyer miles, cruises, car rentals, brand-name merchandise and more. Marriott Rewards has been named “Best Hotel Rewards Program” by the readers of Business Traveler, Global Traveler, Travel Savvy, Executive Travel and BusinessWeek magazines.

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