TNB Signs a Houston Credit Union

Houston-based Harris County FCU has moved its debit card processing to TNB Card Services. Harris County FCU is moving more than 3,000 Visa debit cards over to TNB’s single-source, full-service debit card processing solution, which enables the credit union to view and manage signature and PIN debit account information and transactions online, and in real time. The credit union serves Harris County government employees as well as several under-served areas in the county. It has 15,000 members and assets of $70 million. TNB Card Services provides electronic payments processing, as well as an agent issuing solution for credit unions nationwide.

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TSYS Second Quarter Profits Rise 14%

TSYS reported that second quarter profits rose 14%, hitting $65.7 million. Revenues of $460 million represented a 14% rise over 2Q/06. The Company says internal revenue growth in its core processing business continues to be the strong driver of its domestic results and that its international growth is driven by acquisitions and strong demand. During the second quarter TSYS renewed merchant acquiring service agreements with Merchant Management Systems, as well as signed new agreements with mPay Gateway and The Bancorp Bank; completed the pilot program for the “Wal-Mart MoneyCard”; introduced “Chip and PIN Secure Payments” in Cyprus; launched the “Rewards” card pilot program in the United Kingdom with Norwich Union; and that CUP Data, TSYS’ joint venture with China UnionPay, has recently begun providing processing services for Huaxia Bank. Excluding the one time BofA contract termination fee last year of $68.9 million and the acceleration of amortization of BofA contract acquisition costs of approximately $6 million, net income is expected to increase between 20%–22% in 2007 compared to 2006. Based on GAAP, TSYS’ estimated 2007 net income is expected to increase between 0%–2% as compared to 2006. For complete details on TSYS second quarter performance, visit CardData ([www.carddata.com][1]).

TSYS REVENUE HISTORICAL
2Q/05: $410.2 million
3Q/05: $422.0 million
4Q/05: $420.7 million
1Q/06: $412.3 million
2Q/06: $429.2 million
3Q/06: $441.8 million
4Q/06: $503.9 million
1Q/07: $429.6 million
2Q/07: $460.2 million
Source: CardData (www.carddata.com)

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

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GE Money to Issue a Green Rewards Card

GE leaders and environmental influencers launch the first credit card in the US with rewards dedicated to reducing cardholders’ carbon emissions. Tom Gentile, chief marketing officer, GE Money; Lorraine Bolsinger, vice president, GE ecomagination; Kevin Walsh, managing director, renewable energy GE Energy Financial Services; Jonathan Mintz, commissioner, New York City Department of Consumer Affairs; Elizabeth Rogers, author of “The Green Book” and Kathy Sheehan, SVP, GfK Roper Consulting, Roper Green Gauge will discuss the “greening” of consumer finances and the impact of the card on the environment at The New York Academy of Sciences.

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AmEx U.S. Q2 Card Loans Rise Nearly 40%

American Express reported that its U.S. Card Services division posted second quarter net income of $580 million, down 2% year-over-year. U.S. gross dollar volume rose 13% and the AmEx cardbase expanded by 11% during the second quarter, compared to the year-ago quarter. Total net revenues for the first quarter increased 12% to $3.56 billion. Total U.S. card loans rose 39% to $38.3 billion. Delinquency on card loans (30+ days) declined to 2.7% versus 2.9% in the prior quarter and 2.5% for 2Q/06. Charge-offs on total card loans remained steady at 3.7% for the past two quarters, compared to 2.9% one-year ago. Card volume in the U.S. hit $94.6 billion, up 13% from the year-ago quarter. The total number of domestic cards-in-force grew to 42.1 million cards, compared to 39.1 million for 2Q/06. For complete details on American Express’ second quarter results, visit CardData ([www.carddata.com][1]).

American Express U.S. Card Portfolio Snapshot
2Q/07 1Q/07 4Q/06 3Q/06 2Q/06 Ann Chng
Volume $115.7 105.4 109.7 101.7 102.5 +12.9%
Cards 50.5mm 49.3 48.1 46.8 45.4 +11.2%
Source: CardData (www.carddata.com)

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

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U.S. Green Migration to Drive EBPP

A new report has determined that if all U.S. households viewed and paid bills online it would save 2.3 million tons of wood; reduce fuel consumption by 26 million BTUs; decrease toxic air pollutants by 3.9 billion pounds; reduce toxic wastewater by 13 billion gallons; lower solid waste generated by 1.6 billion pounds; and remove 8.5 million particulates and 12.6 million nitrogen oxides from the air. The study released by Javelin Strategy & Research also reveals that 61 million households currently bank online (53% of the U.S. household population) which is projected to reach 82 million households by 2012, or 67% of U.S. households. Additionally, 39 million households pay bills at individual biller sites today, and this number is projected to reach 50 million by 2012.

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Global Cash Access Terminates its CFO

Global Cash Access Holdings will terminate the employment of CFO Harry C. Hagerty III. Hagerty’s three-year employment agreement expired earlier this month. Hagerty has served as Chief Financial Officer since July 2004. CEO Kirk Sanford will assume the office of Chief Financial Officer on an interim basis. Global Cash Access is a provider of cash access and related services to the gaming industry.

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Saylent Lands Former MasterCard Exec

MA-based Saylent Technologies has announced that Russell J. Prettitore, previously with MasterCard International and NYCE, has joined the company as VP of sales. In his previous role at MasterCard International, Prettitore consistently exceeded annual sales objectives, selling branded debit card and EFT processing services to major financial institutions. He also held senior sales and client service roles at NYCE Corp., a leading payment services provider, and served as a marketing analyst and researcher at Carmody & Bloom, where he conducted electronic payment industry research supporting the firm’s consulting practice. Saylent Technologies develops debit card management solutions that drive revenue for the banking, credit union, and payment industries.

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GENERAL ATLANTIC & GLOBALCOLLECT

General Atlantic has acquired GlobalCollect from Waterland & Prime
Technology Ventures. As a payment service provider, GlobalCollect offers
online merchants capabilities for processing credit cards, debit cards,
bank
transfers, direct debits, personal checks, eWallets, prepaid methods, and
accepting cash through retail outlets. GlobalCollect has a presence in
telcos/
portals, publishing, online games, retail, digital content,
ticketing/events and
travel. With headquarters in Hoofddorp, the Netherlands, and sales offices
in San Francisco and Singapore, GlobalCollect offers online merchants
payment method options in over 200 countries. The General Atlantic growth
equity firm manages approximately $15 billion in capital and has more than
70 investment professionals from around the world.

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Equifax Revenue Climbs 17% in 2Q/07

Equifax posted second quarter revenue of $454.5 million, up 17% compared to 2Q/06. Net income rose to $70.1 million, a one percent increase from the second quarter of last year. U.S. Consumer Information Solutions revenue was $250.0 million in the second quarter, a 2% increase from 2Q/06. Online Consumer Information Solutions revenue was $165.4 million, up 5% while Credit Marketing Services revenue was $39.6 million, down 3%. Direct Marketing Services revenue was $26.0 million, down 9% compared to the second quarter of 2006. North America Personal Solutions revenue rose to $38.6 million, a 24% increase from the second quarter of last year. For more details on Equifax’s second quarter performance visit CardData ([www.carddata.com][1]).

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

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AMEX 2Q/07

American Express reports that gross dollar volume on its international cards rose 19% and its international cardbase expanded 11% during the second quarter, compared to the year ago quarter. International Card & Global Commercial Services reported second quarter net income of $277 million, up 22% from a year ago. Global Network & Merchant Services posted second quarter net income of $266 million, up 33% from 2Q/06. International card volume rose to $45.4 billion, up sharply from $40.8 billion in the prior quarter. The total number of international cards-in-force grew by 1.1 million from the prior quarter to 31.7 million cards. During the quarter GNS launched a new partnership with Banco Privado in de Inversiones in Argentina to issue American Express-branded Standard, Gold and Platinum cards; launched Bruneiâ™s first airline co-brand card; and launched the ICBC Staples Corporate American Express Card, the first American Express branded co-brand corporate card in China. For complete details on American Express’ second quarter results, visit CardData (www.carddata.com).

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Competitive Rates Dampen Balance Transfers

A new research report suggests that there is less balance transfer activity and that cardholders are remaining loyal to their existing credit card relationships. According to research recently conducted by Auriemma Consulting Group only 15% of credit cardholders had transferred a balance in the past year, and 43% of those respondents said their last balance transfer was for an amount of $2,000 or less. ACG says interest rate competitiveness among credit card companies is reducing the incidence of balance transfers. The average balance carried on cards continues to increase, but consumers are not being enticed to move those balances to alternative lines of credit. ACG surveyed 399 consumers for the study.

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