GiftCards.com Expands Top Executives

Gift card distributor GiftCards.com has hired Mark Romanelli, previously VP at Direct Response Technologies, as EVP and Tim Ludwig, president and owner of Business Logistic Services, as Business Logistics Director and Board member. Romanelli will oversee all sales and operations for GiftCards.com. His recent position and experience will benefit him greatly as he takes on providing co-branded Visa debit cards to over 5,000 corporations. Ludwig has over twenty-one years of experience in the credit card industry with past experience with Citibank, AT&T, and Wachovia. He is currently a Chairman for the Data Card Users Group. GiftCards.com provides prepaid Visa debit cards to consumers and corporations to expend as gifts, rewards, or incentives.

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CyberSource’s BidPay.com Cuts Merchant Fees

Online payment service provider BidPay.com has reducing the fees it charges online merchants and auction sellers. Standard domestic pricing has been lowered from 2.5% of the price of the goods being sold to 2.19$%, plus $0.25 per transaction. Pricing on international orders has also been lowered to 2.9% plus $0.25 per transaction. BidPay is a wholly owned subsidiary of CyberSource Corporation. CyberSource Corporation is a provider of electronic payment and risk management solutions.

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PULSE Network Renews Woodforest Natl

TX-based Woodforest National Bank signed an agreement with the PULSE EFT Association extending the bank’s participation in the PULSE ATM/debit network. The agreement ensures continued access to Woodforest’s debit cardholders to PULSE’s nearly 260,000 ATMs, as well as point-of-sale (POS) terminals across the U.S. PULSE will also continue to provide Woodforest with signature debit processing and gateway connections to other networks. Woodforest National Bank is a $2.4 billion bank with more than 350 branches located in Texas, Illinois, Indiana, Maryland, North Carolina, Ohio, Pennsylvania, Virginia and West Virginia. PULSE is owned by Discover Financial Services.

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Dinewise Joins MC’s Global Premium Collection

NY-based direct food marketer DineWise has signed an agreement with MasterCard Worldwide as part of the MasterCard Global Premium Collection to provide a promotional discount and promote DineWise through statement inserts, new cardholder solicitations, and activation and usage direct mail programs. Direct food marketer DineWise has signed an agreement with MasterCard Worldwide as part of the MasterCard Global Premium Collection to provide a promotional discount and promote DineWise through statement inserts, new cardholder solicitations, and activation and usage direct mail programs. This marketing program can generate millions of dollars of revenue for financial institutions, and now DineWise will become a value-added partner in these marketing efforts. DineWise is a leading multi-channel direct marketers of chef-prepared meals delivered directly to customers and ready to serve in minutes.

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COINSTAR & PAYPOINT

Coinstar E-Payment & PayPoint have introduced a gift card program
for retailers at over 17,000 outlets. The solution is expected to launch
in 2H07 for department store, clothing, book, music, experience,
sporting and electronics brands. The program also provides PayPoint
retailers with a solution to increase foot traffic and profits by promoting
a convenient way for consumers to buy gifts. Coinstar provides products and
services at over 60,000 retail locations around the world. PayPoint is
a cash and internet payments company that handles over GBP5 billion
in 414 million payments annually for over 5,000 British and Irish clients
and merchants.

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VISA Inc. Names Board and CFO

VISA has named Byron Pollitt, formerly a top executive at Gap and Walt Disney, as CFO designate of Visa Inc. VISA also announced that Visa Inc. Board will include 10 independent directors and seven directors drawn from each of its geographic operating regions. Joseph Saunders will continue as Chairman and CEO of Visa Inc. VISA plans to form VISA Inc. through a series of mergers involving VISA Canada, VISA USA and VISA International. VISA Europe will retain its member- owned association structure and will become a licensee of VISA Inc. (CF Library 5/15/07)

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CRYPTOMATHIC & AFPC

The Association des Fabricants et Personnalisateurs de Cartes (AFPC)
has selected Cryptomathic’s “CardInk” for its French smart card
personalization applications. “CardInk” will provide data preparation for
AFPC and currently supports other personalization companies such as
Oberthur Card Systems, CPS Technologies and Euro P3C by enabling
issuers to process data for French applications. These applications include
“Moneo ePurse”, “legacy magstripe” and standard EMV applications. The
contract will consolidate the position of Cryptomathic in France, according
to experts.

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Paymetric Unveils XiSecure for Credit Card Data

Payment card software provider Paymetric has released “XiSecure”, a solution for managing and centralizing encrypted credit card data across an enterprise. “XiSecure” removes credit card numbers stored in business applications. Other features to Paymetric’s encryption management solution includes the replacement of credit card numbers in enterprise applications with encryption tokens; storage and encryption of credit card numbers in a centralized, secure system; provide key management and key rotation capabilities outside of enterprise applications and provide access logging and monitoring of decryption requests.

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LIC CREDIT CARD

In response to the growing credit card market, Life Insurance
Corporation of India (LIC) will be launching its own card. Subsequently,
the company is observing an “insurance week” in recognition of this
development. LIC currently has an 80% market share with 110 satellite
branches allowing premium deposit and providing information on existing
policies. Additionally, the company will be establishing 59 satellite
offices
in the Madhya Pradesh- Chhattisgarh central zone before 2008..

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PULSE Offers Recurring PINless Bill Pay Service

The PULSE ATM/debit network is offering a “Recurring PINless Bill Pay Service” geared to utility companies, lenders and certain other billers to enable consumers to automatically pay recurring bills using a debit card without entering their PIN. In addition to offering a recurring payment option with the service, the network’s expanded PINless debit program includes a “Stop Pay” feature that allows financial institutions to block transactions from a specific biller at a cardholder’s request and has added an “Account Validation” transaction to the “PINless Bill Pay” service. This feature allows billers to verify the authenticity of a card prior to establishing a recurring payment.

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PLANET PAYMENT & JCB

Planet Payment has announced certification with JCB International,
allowing processing of JCB International cardholders’ transactions
from P.O.S. terminals. This development is part of JCB’s global
growth strategy, which has increased issuance through 350 financial
institutions around the world. JCB International has 59.05 million
cardholders around the world, acceptance at 14.05 million outlets in
190 countries, and annual sales of US$62.7 billion. Planet Payment
is a multi-currency payment and data processor for the processing of
credit card transactions in multiple currencies.

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Diebold Granted Five ATM/M-Banking Patents

Diebold has been granted five patents to enable customers to gain access to ATMs via mobile phones or personal digital assistants. The recently issued patents will enable mobile devices to interact directly with an ATM and a bank system to allow a customer to “order” cash withdrawals from a mobile device. The technology offers protection against card-skimming or PIN surfing at ATMs, since a customer’s mobile phone becomes his or her input device to the ATM; enable mobile devices to be used in a checkout or bank environment to make payments using secure electronic checks; bank networks to receive wireless communications from a mobile device, including a customer’s bank account number and account cash value.

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