OTI Revenues Slip Slightly in 2Q/07

NJ-based On Track Innovations reported second quarter revenues of $10.2 million, a 1% decrease compared to 2Q/06. Gross profit of $4.4 million slipped 6% compared to the second quarter last year. OTI says it is expecting a stronger second half, with most of the growth realized towards the end of 2007. During the quarter, STMicroelectronics and OTI announced that their joint contactless solution has been certified as level 1, level 2, and Chip Assessment Security Testing (CAST) by MasterCard. Also, in Kenya OTI will provide Smart Applications International with 100,000 smart payment cards. For more details on OTI’s 2Q/07 performance visit CardData (www.carddata.com).

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Midwest Airlines Accepts PayPal

Midwest Airlines is now accepting PayPal to purchase tickets. With PayPal, customers can make online purchases without sharing financial information with a merchant, providing an extra layer of privacy. PayPal also provides customers with more convenience, allowing them to pay using debit cards, bank accounts, credit cards or stored balances that are accessed through their individual PayPal accounts. Midwest Airlines offers service to 53 cities.

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Crown Financial Expands it Card Factoring Business

Crown Financial Services has released a new merchant cash advance that is based on the merchants total sales volume and not just VISA/MasterCard sales volume. Unlike a loan with a fixed rate of interest, amount due and set due date each month, merchant cash advances is paid back as credit card receivables come in. If the merchant’s business is doing well and sales are up, the advance provider collects the money sooner. If sales are sluggish, the payback takes longer. Since there is no time limit on paying back the loan, the effective annual rate decreases as the payments are extended over time, although the cash provider typically forecasts a fairly short period for payback, usually less than a year.

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Apriva Certifies VeriFone Vx on SoftPay

Apriva has issued Class A certification of VeriFone Vx Solutions payment systems running the “SoftPay 3.0” application and is in process with the MasterCard PTSP certification for the Apriva “Secure POS Suite” running on the “Vx” suite of payment systems. Apriva also certified VeriFone’s exclusive pay-at-the-table application, “ServPOS,” with the “Vx 670,” the smallest all-in-one wireless payment device in the industry, designed to be carried to the point of service and handed to a customer for customer-activated payment.

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7-Eleven Rolls-Out the Vanilla VISA Gift Card

The world’s largest c-store chain has rolled-out a suite of gift cards. 7-Eleven, Elan Financial Services and InComm have introduced the “Vanilla VISA Gift Card.” The card is available in $25 and $50 denominations. 7-Eleven’s gift selection includes its own 7-Eleven gift cards, redeemable for gas or merchandise at participating 7-Eleven locations, as well as gift cards for many other popular brands including movie theaters and rental outlets, restaurants, sporting goods, bookstores, shoes, clothing, games and more. 7-Eleven also offers the 7-Eleven SpeakOut prepaid wireless handsets and ReVos cards, which provide unlimited prepaid calling time to 42 countries, as well as prepaid airtime cards from the nation’s leading wireless providers. 7-Eleven operates, franchises or licenses more than 7,200 7-Eleven stores in North America.

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SEPA

The Single European Payment Area (SEPA) has recorded a surplus of
EUR 5.9 billion and net direct and portfolio investment inflows of EUR
25 billion, mainly driven by equity security purchases, for June of 2007.
For current account, a surplus of EUR 5.9 billion was recorded reflecting
EUR 7.0 billion surpluses in goods and a EUR 3.9 billion services. For
the financial account, direct and portfolio investment totaled a net of
EUR 25 billion with net inflows of EUR 70 billion for portfolio investment
and net outflows of EUR 45 billion in direct investments.

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Starz to Market a Springbok MasterCard

Starz Entertainment has selected Springbok Services to implement a customized, MasterCard prepaid card program .Starz will implement Springbok’s solutions for both single value and re-loadable sales incentive programs, along with single value consumer focused gift with purchase program. Starz Entertainment provides premium movie services throughout the United States, offering 16 movie channels including the flagship Starz and Encore brands, with approximately 16.1 million and 28.4 million subscribers respectively. Starz Entertainment airs more than 1,000 movies per month across its pay TV channels and offers advanced services including Starz HD, Starz On Demand and Vongo. Springbok Services is PCI certified for card processing.

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CITIBANK WORLD PRIVILEGES

Citibank has introduced the “Citibank World Privileges on Mobile” which
informs customers of relevant discount offers from 40,000 merchants in over
40 countries. The service informs consumers of discounts available in
shopping, dining, travel, and hotels and is only compatible with mobile
phones
that have GPRS, EDGE or 3G, are “Java software Mobile Information Device
Profile” (MIDP) compliant. The requisite phone must also have a minimum of
700kb of available phone memory. Citibank has a 20% market share in the
region and over a million credit cardholders with nearly a 90% brand
awareness
in Malaysia. The new service is available through over 1,000 merchants in
Malaysia and is expected to attract 100,000 users over the next two
years. Citi
currently has more than 145 million cards in 40 countries.

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Prime Bank/Credit Card Domains Offered

MD-based New Windfields has, for the first time, released some of its portfolio of prime bank and credit card related domain names for acquisition. Among the domain names offered are: bankcenter.com; bankingcenter.com; cardgame.com; cardbuzz.com; bestcreditcard.com; cardplanet.com; cardrate.com; chargecard.com; goldcards.com; pay2001.com thru pay2025.com; and payments2000.com thru payments2025. The cardbuzz.com domain also has a “Class 16 & 41” registered trademark. The firm, which also pioneered the development of the highly successful cardweb.com and cardtrak.com Web sites, holds several hundred domains and registered trademarks in prime financial Internet real estate. New Windfields is represented by Blank & Rome. For more information visit .

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BOI CREDIT CARD

The Bank of Ireland has introduced its “2-in-1” credit card providing
customers with a payment plan for larger purchases. In addition to
charging 0% APR to new customers for the first 6 months, the “2-in-1”
card allows users to transfer the balance of larger purchases to a
payment plan for 12 months at a 6.9% APR. The discounted plan allows
two purchase transfers at any one time, within two months of it appearing
on their statement, for a total of at least 500 euro. The amount that
can be transferred to the plan is limited to 80% of their total credit
limit
and there are no additional fees or penalties for early re-payment.

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ACCEL/Exchange Awards College Grants

The ACCEL/Exchange Network and its Education Exchange college grant program recently awarded $50,000 in college grants to 34 members of the high school graduating class of 2007. This year’s $5,000 grant recipients were Galen Danskin of Quaker Hill, Connecticut; Tony Poor of Panama City, Florida; and Lindsey Stavola of Melbourne, Florida. The $2,500 grant recipient was Jacob Hofer of Hagerstown, Indiana. From an initial pool of thousands of applicants, three $5,000 grants, one $2,500 grant, and 30 $1,000 grants were awarded based upon scholastic achievement, volunteerism and extracurricular activities, character and leadership, essay responses and financial need. ACCEL/Exchange is a comprehensive ATM and POS network that maintains industry-leading authorization rates and 24 x 7 network switch availability. The value inherent in ACCEL/Exchange has made it one of the fastest growing EFT networks in operation. ACCEL/Exchange transactions are currently enabled at 180,000 ATMs and most merchant locations nationwide.

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NATIONWIDE SERVICE

In response to the growing trend of outsourced call centers, Nationwide
has recently opened 3 centers and refurbished 2 others. It is estimated
that nearly 17,000 financial call centers have been outsourced. Additional
research conducted by the building society shows that 93% of UK
consumers prefer domestic customer service, 79% are less likely to
deal with companies that outsource service centers, 52% would
change providers upon realizing that they outsource, and 74% prefer
domestic call centers because they provide faster, better service quality
and benefits to the UK economy.

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