Survey Says: 75% of Consumers Have More Than One Card

Citibank India released key findings of its latest seven-country Asia-Pacific credit card consumer research study. Among findings: almost 75% of cardholders in India have more than one card and a little
over a third have more than one plastic from the same institution. The average cardholder in India uses their credit card 3.1 times in the
average week. More than 55% of card users still use cash/debit cards more than credit cards. The top two types of purchases that credit cards are used for in India are clothing/shoes and restaurants/fine dining. Home electronics and travel/airfare or railway tickets are tied for third spot.

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MARTRAC ePayment Inlays Obtain MC CQM-Certification

Amsterdam-based SMARTRAC announced that its “Pay Pass” inlays obtained a MasterCard “CQM-Certification.” SMARTRAC’s facility, process and products have successfully completed MasterCard’s “Card Quality Management” program audit. With the MasterCard “CQM Certification” and the VISA card certification as “Chip Embedder,” which was completed early this year, SMARTRAC is able to offer the full range of RFID inlay products for the secure payment industry.

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Corporation Bank Inks Euronet ATM Outsourcing Deal

Euronet Worldwide announced an ATM outsourcing agreement with Corporation Bank in India for 915 ATMs. Established in 1906, Corporation Bank has a network of 853 branches and 6.5 million customers across the country. The bank has been connected to Cashnet since January 2004. Cashnet is the largest shared ATM network in India, operated by Euronet with more than 6,000 ATMs across the country. Under the agreement, Euronet will provide ATM outsourcing services, including 24×7 monitoring, help desk, vendor management, cash forecasting and software distribution along with various field maintenance services to Corporation Bank.

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Citigroup to Acquire GFU

Grupo Financiero Uno, the largest credit card issuer in Central America, has agreed to be acquired by Citigroup. GFU is privately held and has more than one million retail clients representing 1.1 million credit card accounts, $1.2 billion in credit card receivables and $1.3 billion in deposits in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Panama as of September 30th. GFU operates a distribution network of 75 branches and more than one hundred mini branches and points of sale. GFU will continue to operate under its established brands during the integration.

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Singapore Airlines Partners with AirPlus

AirPlus International has partnered with Singapore Airlines to offer companies in Singapore a complete payment and cost analysis solution. AirPlus International will now offer Singapore Airline corporate customers the “AirPlus Company Account,” an air travel payment, billing and reporting system that provides the airline’s corporate customers with a new option to pay for travel on Singapore Airlines and more than 200 other carriers, charge other travel expenses and help manage their company’s travel budgets. AirPlus has about 30,000 corporate customers worldwide.

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Spartanics M930 System Open for Inspection

European card manufacturers seeking the best automated inspection technology available in the global marketplace can now arrange visits to the Swiss facilities of Sokymat to see the
Spartanics “M930 Plastic Card Inspection System” in action. The system is being used by worldwide card manufacturers for unprecedented production output gains by speeding inspection to the rate of 36,000 cards/hour while ensuring 100% quality standards. The Spartanics “M930” is also the only automated inspection system that uses a smart self-learning system with machine intelligence that can train on a set of good cards during setup, bypassing both need for extensive programming and operator errors.

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GraphOn Gets an Online Database Patent

Santa Cruz-based GraphOn has been issued a patent in the area of user-managed online databases that describes a Web site configured to receive a request from a user to update personal financial information on the site, verify the user’s identity, and allow financial information to be updated if the user’s response contains a proper password. The ‘464 patent is directed towards updating personal financial information on a Web site. In particular, the patent describes a Web site configured to receive a request from a user to update personal financial information on the site, verify the user’s identity, and allow financial information to be updated if the user’s response contains a proper password. GraphOn has been an innovator of cost-effective, advanced solutions that help customers access applications from anywhere.

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Hypercom Hires Former Gemplus Exec for EMEA

Hypercom is hiring Kazem Aminaee, formerly with Gemplus, Ingenico and Bull Smart Cards & Terminals, as SVP and General Manager of Hypercom EMEA. He will be directing and driving the company’s sales, service and support in Europe, the Middle East and Africa. Aminaee served as SVP, Financial Services, EMEA for Gemplus, for the past two years. He has more than 18 years of expertise in the electronic payment, ATM and smart card industries and is fluent in three languages.

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Discover Small Business Index Rises

A monthly small business survey has determined that 44% of small business owners rated the economy as “excellent” or “good” while only 22% rated it as “poor.” The “Discover Small Business Watch” rose sharply in October to 120.0, compared to 107.7 in September. More small businesses indicated in October they will increase spending on business development activities, and fewer (32% v. 38% last month) said they would decrease investment spending. Discover also found that only 34% of small business owners said they experienced temporary cash flow issues over the past 90 days, down from 39% in both September and August. Similarly, 61% reported no cash flow issues, up from 58% and 59% in the first two months of the survey, respectively.

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Pay By Touch Expands in Georgia

Georgia-based Crook’s Marketplace and Hit N’ Run have deployed the Pay By Touch biometric payment solution. As a special introductory offer, shoppers who enroll in the ‘BioPay’- branded* finger scan system at Crook’s will receive a free half gallon of Mayfield ice cream and get $5 off their next purchase when they spend $25 or more using the system. Those that enroll at the Hit N’ Run will get a free fountain drink and candy bar at enrollment and, after their third use, a free 12-pack of Coke or Pepsi products. Pay By Touch (www.paybytouch.com) is wowing the world one touch at a time as the leader in biometric authentication, personalized marketing and payment solutions. Crook’s is family owned and has proudly supported the local community since 1913 years.

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