CIGNA & Metavante Launch Health/e/Pass

CIGNA HealthCare, with the help of Metavante, has launched a new solution designed to simplify and improve payment processes to help patients anticipate and manage their health care costs. The new “Health/e/Pass” will feature American Express’ hold-and-settle process that reserves the patient’s payment from their funding source, such as a health savings account or line of credit, and releases the patient payment at the same time the insurance claim is settled. “Health/e/Pass” will be made available by CIGNA at no additional cost for providers that accept credit cards. Using the AmEx hold-and-settle process, “Health/e/Pass” will deliver the ability for patients to reserve payment from their health funding accounts. CIGNA HealthCare plans to launch “Health/e/Pass” with select employers, members and providers in 2007, with subsequent roll-outs across the country.

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eFunds’ Profit Rises 7% in 3Q/06

AZ-based eFunds reports that third quarter net revenue increased 5% to $139 million, compared to the same quarter of 2005. Third quarter net income grew 7% to $15 million, compared to 3Q/05. The Company posted a 3% year-on-year gain in its U.S. Payments segment with $74.3 million in revenue. The International segment soared by 28% to $16.8 million. However, the U.S. Risk Management segment was flat at $48.3 million. eFunds also reported that it now expects full year net revenues to increase 11% to 13% over 2005 net revenues. For complete details on eFunds’ third quarter performance, visit CardData (w[www.carddata.com][1]).

eFunds Revenue Historical
3Q/04: $140.1 million
4Q/04: $130.5 million
1Q/05: $114.2 million
2Q/05: $116.3 million
3Q/05: $133.2 million
4Q/05: $138.0 million
1Q/06: $139.7 million
2Q/06: $132.4 million
3Q/06: $139.4 million
Source: CardData (wwww.carddata.com)

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

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Ruesch Bird Dogs for Global Payments

Atlanta-based Global Payments has inked a referral agreement with Ruesch International, a premier provider of business-to-business payment solutions. Under the terms of the agreements, Ruesch International will refer clients who have payment card processing needs to Global Payments; and, in turn, Global Payments will refer agent banks and business clients to Ruesch International for their cross-border payment processing and foreign exchange transaction needs. Ruesch International is a leading global financial institution specializing in international business-to-business payment products and solutions. Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies, multi- national corporations and gaming establishments located throughout the United States, Canada, Latin America, Europe and the Asia-Pacific Region.

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U.S. Bank’s Elan Signs 21 Deals in Q3

U.S. Bank’s Elan Financial Services has signed agreements with 21 financial institutions during the third quarter to provide credit card outsourcing services to their customers. The new agreements cover $82.1 million in combined outstanding balances. Elan has signed 55 partnerships representing $224.2 million in outstandings in the past three quarters alone. This number is up 56% compared to this time last year. Elan is the largest agent credit card program in the U.S. with more than 1,500 clients in 50 states.

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Pemco Technologies Signs a PA and CA CU

PA-based Franklin County Teachers CU has selected Pemco Technologies for VISA credit and debit processing, and for a credit and signature debit awards program plus CA-based Matadors Community CU has selected Pemco for credit card services and a cardholder rewards program. Franklin County Teachers Credit Union, with assets of more than $80 million and 7,500 members, has selected Pemco Technologies for Visa credit and debit processing, and for a credit and signature debit awards program. Matadors Community Credit Union, with assets of $115 million and more than 13,500 members, has selected Pemco Technologies for credit card services and a cardholder rewards program. Pemco Technologies provides innovative payment solutions to the financial industry including credit and debit card processing, ATM services, cardholder award programs, fraud management, and gift card programs.

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Click&Buy to Power Acclaim Games’ eWallet

NY-based Click&Buy has signed a deal with Acclaim Games to provide a payment system for Acclaim’s virtual wallet. Click&Buy is more than a payment processor. Merchants, such as Acclaim, outsource all or part of their eCommerce activities to Click&Buy, who not only manages the payment process, but also offers live customer support for consumers, credit card fraud detection, monthly invoicing and easy implementation of various payment methods. Click&Buy processes, handles and manages digital and paid content for games, songs, movies, streaming video, podcasts, RSS, television, publishing and mobile devices. The Click&Buy Group is headquartered in Switzerland with major offices in New York, London, Paris, Germany, Mexico, Belgium, Austria, Italy and India. Acclaim Games is a revolutionary new company with a familiar name.

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Charge-Offs & Delinquency Ratios Normalize

Credit card charge-offs, among “prime” asset-backed securities, slipped south in September, but, the 60+ day delinquency ratio slightly increased. However, it is likely that slowing economic activity and rising bankruptcy filings will result in slower growth in balances and charge volumes. According to FitchRatings, “prime” charge-offs for September were 3.94%, six basis points lower than August and compared to 5.70% one-year ago. The “prime” 60-plus day delinquency index for September was 2.33%, compared to 2.32% in August. Fitch also reported that “sub-prime” 60+ day late payments increased to 5.32% from 5.00% in August. “Sub-Prime” charge-offs dropped to 7.88% in September compared to 9.45% for August. Fitch says the jump in July and August “sub-prime” charge-offs were due to a roll-off of a delinquency bubble caused by the increase in minimum payments.

ABS PRIME CHARGE-OFFS HISTORICAL
Jan 06: 6.88%
Feb 06: 3.29%
Mar 06: 3.10%
Apr 06: 3.19%
May 06: 3.58%
Jun 06: 3.58%
Jul 06: 3.44%
Aug 06: 3.94%
Sep 06: 3.88%
Source: FitchRatings

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Ultra Unveils the Magicard Avalon Duo

Ultra Electronics has released the new “Magicard Avalon Duo” double-sided ID card printer. Double-sided printing offers convenience for one-stop ID card issuance, as well as the ability to batch print for mid to high volume applications.The new printer features a robust metal print engine and a two year limited warranty across North America and the EU. The printer is priced at $2950.

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PULSE Names a New Oversight Committee Chair

Thirty-year banking veteran Paul Olivier has been elected chairman of PULSE EFT Association Financial Institution Oversight Committee and Ron Samford, senior EVP and chief administrative officer of Capital One and James Outlaw, president and COO of Trustmark-Texas have been added to the panel. The Oversight Committee was created following PULSE’s acquisition by Discover Financial Services LLC in January 2005, and advises the organization on key issues relative to the operations of PULSE, one of the nation’s leading ATM/debit networks currently serving more than 4,200 banks, credit unions and savings institutions across the country. PULSE is one of the nation’s leading ATM/debit networks, currently serving more than 4,200 banks, credit unions and savings institutions across the country.

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Vendtek’s Now Prepay and Canadian Tire Ink a POSA Deal

VendTek Systems and its Now Prepay subsidiary have inked an agreement with Canadian Tire Petroleum to implement “POSA” activation
terminals and new software to allow for activation of long distance cards by swiping them through the POS terminals. Now Prepay will be working with Bell Canada to deliver a set of prepaid long distance products that can be activated at Canadian Tire Petroleum gas
bars. VendTek develops and licenses automated transaction system software and supporting technologies.

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PayPad Becomes 3PEA International

Payment solutions company, PayPad, has changed its names to 3PEA International. 3PEA International, Inc., through its wholly owned subsidiary 3PEA Technologies, Inc., designs and develops next generation payment solutions including proprietary payment terminals and payment gateway services. Since 2001, 3PEA has provided online payment solutions with specific focus in the area of PIN-Debit transactions. The company now provides turnkey and customized payment processing services to retailers, internet merchants and software development companies.

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