Voca Says Net Pay Drops

Throughout the month of June 2007, research conducted by Center for
Economics and Business Research (cebr) and the VocaLink take home pay
index has demonstrated a national increase in take home pay of 3.3%. Other
VocaLink findings show that take home pay in the manufacturing sector
registered an increase from 3.4% in May to 4.8% in June 2007 and the
services sub-index, reflecting take home pay growth in the services sector,
continued to decrease from 2.5% in May to 2.1% in June. Because VocaLink
processes over 90% of UK salaries, it is a reliable source for British
salary
statistics.

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PA College Campus Goes Contactless

Penna-based Slippery Rock University has teamed with NJ-based Heartland Payment Systems to enable contactless payments by cell phone to students and faculty. This week, 8,500 students, faculty and staff will receive a new official campus ID “Rock Dollars” card and a separate contactless token designed for use with their mobile phones. The card or the phone can be used at on-campus locations as well as participating merchants in the surrounding community. Campus vending machines, laundry facilities, photocopiers and printers will be outfitted this summer with dual technology readers to enable contactless payments via mobile phone in addition to the traditional ID card payments. HPS has been Slippery Rock University’s payment processor for nearly ten years.

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NCR Names a New HR Executive

OH-based NCR has promoted Andrea Ledford to SVP/Human Resources. Previously, Ledford was NCR vice president of human resources for Europe, the Middle East, Africa and Asia-Pacific and, before joining NCR in 2006, she led human resources for those regions at Symbol Technologies. Ledford also held senior global human resources roles at Cisco Systems, as well as Storage Technology, United International Holdings and Synergen. She holds a Bachelor of Science degree in accounting from the University of Colorado and an executive master’s degree with INSEAD.

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BofA and Making It Count Target Colleges

Bank of America has teamed with Monster Worldwide’s “Making It Count” unit to launch the “Ultimate Money Skills: Scholars, Dollars, Budgets & Bills” program to help college students learn effective credit card use, budgeting, and control of student loan debt. Making It Count’s interactive “Ultimate Money Skills” program will be presented free to college students on campuses across the country. The program prepares students with an understanding of appropriate credit card use, student banking options, how to develop and follow a budget and the importance of saving. According to the 2003-2004 National Postsecondary Student Aid Study (NPSAS), two-thirds (65.7%) of four-year undergraduate students graduate with some debt, and the average student loan debt among graduating seniors is $19,237. Making It Count is a provider of live, in-school presentations that educate and motivate teens to excel in both personal and professional educational endeavors.

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Discover Wins Customer Loyalty Award

The “Discover Card” has received top honors for the 10th consecutive year in the “2007 Brand Keys Customer Loyalty Engagement Index.” In addition to being the top-rated credit card in the “Index,” “Discover Card” ranks 28th overall out of 239 brands evaluated across 35 industry categories in the 2006 Index. Brand Keys will release the overall ranking for 2007 in September. The “Brand Keys Customer Loyalty Engagement Index” is an annual syndicated study that currently examines customers’ relationships with 362 brands in 55 categories.

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ATF BANK & EXPERIAN

For the automation of customer decisions and the use of “New Business
Strategy Manager” decisioning technology, Kazinform ATF
Bank has chosen Experian “Decision Analytics.” Experian will also offer
ATF Bank the accurate assessment of consumer risk with a tailored
scorecard, important in the expanding Kazakhstan Banking industry.
The automation provided by Experian rationalizes manual tasks and
will streamline the approval process for the bank. This is designed to
save both time and money. Experian employs nearly 13,500 people in
36 countries worldwide with clients in more than 60 countries.
Supporting 70 credit bureaus around the world, the company has sales
of $3.5 billion.

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QUICK APPROVALS

Citibank has just launched an industry first, “24-hour Card Approval
Process”, in response to the typical 5 to 14 working day approval process. Experts
predict this will attract many new customers based on the current
demands of consumers. This development coincides with Citibank’s new
promotional offers including “Go to the Movies on Citibank” which offers
a 40% discount on certain movies and 15% discounts for Internet and
on-premise purchases during the weekend and national holidays. Citi
provides a range of financial services to nearly 200 million customers
in more than 100 countries.

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CARD VOLUME

The total value of plastic card payments received by British merchants, retailers and service providers increased nearly 10% last year to GBP 321 billion. Debit cards accounted for 61% or GBP 195 billion of total spend. Credit card spend reached GBP 195 billion during 2006. According to UK payments association APACS, this is the second year in a row that plastic spending topped cash spending. Last year total cash spending was GBP 274 billion. The trade group also noted that check payments last year totaled GBP 164 billion.

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CMI Shows Housing Market Dragging the Economy

A monthly survey of the business economy shows that conditions modestly improved from the prior month, with an increase in the manufacturing sector offset by a decrease in the service sector. The decimated housing market continues to be the real drag on the overall economy. The seasonally adjusted “Credit Manager’s Index” edged up in June by 50 basis points. The report showed mostly small changes in the 10 components of the “Index,” with only six of the components rising. The manufacturing sector rose 1.1%, chiefly as a result of improvements in sales and bankruptcies. But, the service sector fell 0.2%. The National Association of Credit Management noted that on a year-over-year basis, the combined index was unchanged at 57.2%, remaining well above the 50 level indicating economic expansion.

Credit Manager’s Index
Jun 06: 57.2
Jul 06: 57.6
Aug 06: 57.3
Sep 06: 57.1
Oct 06: 55.3
Nov 06: 55.2
Dec 06: 54.7
Jan 07: 57.2
Feb 07: 56.6
Mar 07: 55.0
Apr 07: 56.6
May 07: 56.7
Jun 07: 57.2
Source: National Association of Credit Management

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HORTONS & MASTERCARD

The country’s largest quick service restaurant chain is gearing up to accept credit cards as well as contactless payments. Tim Hortons has signed a deal to accept MasterCards and to deploy MasterCard’s “PayPass” contactless technology. For a limited period, MasterCard will be the exclusive credit card accepted at Tim Hortons. As of April 1st, Tim Hortons system-wide restaurants numbered 2,724 in Canada and 340 in the USA. Approximately 500 Tim Hortons locations are currently installed
with MasterCard capability and more locations are being added throughout the summer. MasterCard is facilitating payment card acceptance in quick
service environments with its exclusive “Quick Payment Service” and
MasterCard PayPass programs.

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Metavante Names a New Chief Financial Officer

Metavante Corporation has hired Timothy C. Oliver, currently VP and treasurer of Rockwell Automation to serve as senior EVP and CFO. Since May 2004, Oliver has been responsible for the global treasury, contracts, pricing and investor relations functions at Rockwell Automation. Prior to joining Rockwell Automation, he was vice president for investor relations and financial planning at Raytheon Company in Lexington, Mass. Previously, he spent five years at Honeywell (formerly AlliedSignal), and served as director of finance for the $1.6 billion Aviation Aftermarket business there. Oliver also held bond trading and investment banking positions at Bear Stearns & Co. and at Kidder Peabody & Co., New York City. Oliver received an MBA degree from the New York University Stern School of Business and a bachelor’s degree in economics from Williams College. Metavante Corporation delivers banking and payments technologies to over 8,600 financial services firms and businesses worldwide.

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