Springbok Expands its Prepaid Card Production

CO-based Springbok Services, has doubled its card fulfillment capacity, completing the second phase of a longer-term expansion plan leveraging its one-stop shop technology to produce over 18 million custom prepaid MasterCard cards annually. Springbok is a provider of prepaid MasterCard card solutions and is PCI certified for card processing. It offers a one-stop shop for prepaid services including card personalization, embossing, encoding and fulfillment to nearly 5,000 clients.

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STAR-ACHATS to Distribute BankServ Software

S1 subsidiary, Postillion, will be providing Liquix with payment processing
software. This Postillion solution will allow the Liquix customers to
manage
their reloads automatically though either setting a certain date each
month or
every time the balance falls below a certain figure. Liquix customers for
whom the company processes payments and top-up requests include
telecom operators such as BASE and network operators such as Ayyildiz
and Simyo. Liquix is also responsible for providing prepaid electricity and
gas top-up payment services for Essent energy provider. A subsidiary of S1,
Postillion provides self-service banking and payment processing solutions
in over 50 countries. S1 employs 1,400 around the world and has more than
3,000 customers.

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First Annapolis Hires a MBNA Card Veteran

First Annapolis has hired Frank Andrews, a fifteen-year veteran of MBNA, as a member of its Card Issuing team. Andrews will focus on serving the evolving needs of partnership finance clients in the affinity, agent, and retail sectors. He brings proven experience in the areas of card marketing, customer research and segmentation, and loyalty/reward program development. At MBNA he held management positions in a variety of partnership market segments, fraud and collections, channel optimization, and card network relationship management. He graduated from the United States Naval Academy and served on active duty in the Navy’s nuclear submarine force. Andrews earned a M.S. in Computer Science from George Washington University.

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Citibank Taiwan Selects Gemalto for EMV Cards

KPay, a subsidiary of Vesta Corporation payment services, has launched
services for the Beijing stored value transit card. Kpay will allow
commuters to utilize a transit card payment network expected to cover
thousands of retail stores in Beijing by the end of 2007. The POS
terminals are designed to accept contactless cards, credit cards and debit
cards. Vesta has been awarded as one of the 500 fastest growing
companies for 5 years straight.

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AmEx Loses Ground in a Travel Insurance Lawsuit

The California First District Court of Appeal has rejected American Express attempt to make millions of cardholders individually arbitrate claims concerning its fee-paid flight insurance programs. The Court concluded that AmEx waived its right to arbitration when it sought court approval of a class action settlement based upon misleading and false statements in court filings, to plaintiffs’ counsel and the cardholder class. The decision will force AmEx to go forward with a nationwide class action. AmEx’s motion for summary judgment was also recently rejected. The case was filed in September 2001 when William Hoffman filed suit alleging that AmEx was cheating their customers by systematically charging card members for travel insurance whether or not a trip was taken.

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Esprit Teams With IEXPay

NCR Corporation has signed a technology license agreement with
CIMA. This development will globalize CIMA’s Teller Assist Cash
Recycler (TACR), to be offered as a part of NCR’s branch portfolio.
TACR authenticates, counts, stores and makes available deposited
currency notes, which are then recycled back to customers. This allows
for an alternative to the manual counting process, which accounts for
an average of 34% of a bank tellers’ workday. CIMA S.p.A has been
serving banks since 1955 and has developed a variety of security
initiatives such as these. NCR develops business solutions for
improving customer relations.

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Hypercom’s CEO Steps-Down; Resigns from the Board

Hypercom this morning confirmed that William Keiper is stepping down as CEO of the Company and will be resigning as a member of the Board of Directors effective August 15th. Philippe Tartavull, President of Hypercom, has been promoted to COO effective immediately. Ian Marsh, EVP/Managing Director, Asia Pacific Region of the Western Union Company, has been appointed a member of the Board of Directors. The Company will conduct a search for a new CEO under the direction of Chairman Daniel Diethelm. Until the appointment of a new CEO, the Company will be directed by an interim Office of Daniel Diethelm, Philippe Tartavull, and CFO Thomas Liguori. Last month, Hypercom announced the outsourcing of its manufacturing and the consolidation of its assembly, software, repair and maintenance functions globally. Additionally, Hypercom announced a reconfiguration of the Company’s global sales and marketing functions to create a focused platform for revenue growth, streamline the organization, and further strengthen accountability for client relationships and anticipated market share growth globally. (CF Library 6/29/07)

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E-SMART

e-Smart Technologies has opened an Engineering Production Center in Seoul,
South Korea. The Center will produce manufacturing designs, oversight
control,
quality control, product delivery control, research and development for
the Asian
market. e-Smart Technologies supplies the Biometric Verification
Security System,
the Super Smart Card and related system technologies for Asia, Africa
and the
US. The smartcard has an on-card sensor and a full match on-card system for
biometric ID verification. These technologies provide governments,
public and
private institutions, healthcare providers and insurers, and companies with
protection.

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Congress Hears About Debit Card Overdrafts

A new survey has found that consumers paid about $17.5 billion in fees for $15.8 billion in abusive overdraft loans. In addition, the report finds that debit card overdrafts are now the single largest source of overdraft fees. The non-profit Center for Responsible Lending research also identified several unfair bank practices including the posting charges against a checking account quickly while intentionally delaying the posting of deposits; lowering account balances by re-ordering debits to clear higher-dollar items first; and failing to warn a customer during debit card point-of-sale or ATM transactions if they are about to overdraw their account so that they may cancel the transaction if they choose. Meanwhile, the American Bankers Association says overdraft protection is a valued service and penalty fees are avoidable for consumers who inadvertently overdraw their deposit accounts. The ABA says that banks have traditionally covered overdrafts, under certain circumstances, and that today overdraft protection practices are automated with specific criteria and have limits on the coverage. Additionally, current technology makes real-time notification of debit card overdrafts cost prohibitive.

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TransUnion Attacks the Authorized User Issue

TransUnion and top mortgage lending institutions have developed a customized approach that enables lenders to identify consumers who may have added authorized user accounts to artificially inflate their credit report and standing. This analytic approach was applied to nearly 2 million approved mortgage applicants in which TransUnion examined the extent authorized user accounts were being used to potentially “boost” credit scores. Taking a look at mortgage approvals during a three month period (July-September 2006), TransUnion recognized that approximately 50 percent of this loan pool was potentially impacted by this practice. Once these questionable authorized user trade lines have been identified by the customer, TransUnion’s Real Estate Division can initiate modifications to the TransUnion credit file that allows customers to obtain a re-scored TransUnion credit report.

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CO-OP Hires a VeriFone Relationship Manager

CO-OP Financial Services has hired Carol Berthelsen, formerly with VeriFone, as National Relationship Manager to focus on member relationships and expansion throughout Wisconsin, Illinois, Indiana, Kansas, Missouri and Kentucky. While with VeriFone as a relationship manager, she supported Midwest account relationships and sales activities. Additionally, Berthelsen worked for eFunds as a Client Services Specialist, where she was responsible for the coordination of installation activities for clients’ EFT environments.

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Western Alliance Enters the Affinity Card Market

San Diego-based Western Alliance Bancorporation has entered into the affinity credit card market through PartnersFirst Affinity Services. PartnersFirst, a division of its Torrey Pines Bank affiliate, offers credit card solutions incorporating the major network associations, world-class processing platforms, state of the art targeted marketing capabilities, and new partner/issuer economic structures.Western Alliance Bancorporation is the parent company of Bank of Nevada, First Independent Bank of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Alta Alliance Bank, Miller/Russell & Associates, Premier Trust, and PartnersFirst.

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