Target Card Education Program Generates $183MM

The Target “Take Charge of Education” school fundraising program has awarded more than $13.6 million to schools nationwide this year as a result of its “Target VISA” and “Target Card” program. With the Take Charge of Education school fundraising program, families, teachers and members of the community can designate an eligible K-12 school of their choice to receive an amount equal to 1 percent of their REDcard (SM) (Target(R) Visa(R) and Target(R) Card) purchases made at Target and Target.com.* Target also donates 0.5 percent of all Target Visa purchases made everywhere Visa credit cards are accepted. Target serves guests at 1,443 stores in 47 states nationwide by delivering today’s best retail trends at affordable prices.

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Citi & AA Launch the Private Pass Program

Citibank has introduced the enhanced “Citi/AAdvantage Card Private Pass Program” with access to a new concert series. The series, “Traveling Through Life,” will feature Aerosmith, Dave Matthews, Mary J. Blige, and Tony Bennett. The program will launch October 9th. Cardholders who purchase tickets and their guests are given a complimentary gift at the end of the show. Select cardholders may also have the opportunity to meet and greet the artist backstage and win signed memorabilia. Additionally, the “Private Pass” program will offer Citi/AAdvantage cardholders VIP parking, private entrance to venues, priority/early seating, backstage access, artist meet-and-greet, available nightclub and comedy club access, and guaranteed golf course access. Citi and American Airlines have had a 19-year co-branding relationship.

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Ingrian EdgeSecure Platform Introduced

Ingrian Networks announced the “Ingrian EdgeSecure Platform” which offers a secure hardware-based encryption solution for retailers and banks that need to achieve “PCI” compliance. By combining granular encryption capabilities at the branch location with a centralized management model, Ingrian EdgeSecure enables retailers and banks to effectively address a range of critical security gaps, with unparalleled ease and cost effectiveness. Ingrian Networks brings complete data privacy to the enterprise. With Ingrian DataSecure Platforms, organizations can protect critical data from both internal and external threats, and ensure compliance with legislative and policy mandates for security.

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Pemco Signs Cumorah Credit Union

Las Vegas-based Cumorah Credit Union has selected Pemco Technologies for ATM issuing and acquiring; the institution already uses Pemco for VISA credit processing. Cumorah Credit Union was founded in 1965 to serve the financial needs of members of the Church of Jesus Christ of Latter Day Saints. Pemco Technologies provides innovative payment solutions to the financial industry including credit signature processing, debit signature processing, PIN-based processing, ATM acquiring and switching, cardholder award programs, fraud management/detection/prevention, and gift card programs.

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Moneris U.S. Names a New President

Moneris Solutions has named Gregory Cohen, formerly SVP of Third Party Services for Global Payments, to the position of President of its U.S. business, Moneris Solutions. Cohen will create and execute the strategic direction and business model for the company’s operations in the United States. Cohen previously served as Senior Vice President of Third Party Services for Global Payments Inc. In this position, he was directly responsible for key business segments including Independent Sales Organizations (ISOs), financial institutions, value-added resellers and referral organizations. Moneris offers credit, debit, wireless and online payment services for merchants in virtually every industry segment.

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Arizona State Fair Goes Wireless

The “2006 Arizona State Fair” is using Hypercom’s “Optimum M2100” wireless payment terminals for rides and, for the first time, allowing the fair to accept debit cards. The wireless terminals are expected to speed lines, increase ticket sales, minimize cash handling and enhance guest convenience at the fair, which opens in Phoenix on October 13 and runs through November 5 (closed Mondays). Thanks to Hypercom, Element Payment Systems and Apriva, the devices are also expected to be used at future Arizona State Fairs as well as at other fairgrounds events that previously have not accepted credit card payments. Global payment technology leader Hypercom Corporation (NYSE: HYC) delivers a full suite of high security, end-to-end electronic payment products and services. Apriva is the leading wireless solutions provider integrating the hardware, software and network infrastructure required to develop and deploy high-performance high-reliability solutions in the Point of Sale (POS) and Secure Mobile Messaging markets. Element Payment Services, Inc., provides powerfully diverse, full-service payment solutions that deliver flexible, scalable services; industry-leading POS equipment and solutions; robust reporting capabilities, and reliable, responsive 24-hour customer support to over 30,000 merchants nationwide.

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NBS Selects WAY Systems’ Wireless Terminals

National Bankcard Systems has selected WAY Systems’ “Mobile Transaction Terminals” as its preferred wireless solution for prospective mobile merchants. National Bankcard Systems provides merchant services including Credit Card Acceptance, Electronic Check Acceptance, EBT, Debit Card, Gift Card, ATM services, and a variety of other electronic payment methods to nearly any type of business. WAY Systems is a leading global service provider of mobile phone based Point of Sale solutions designed for millions of unwired merchants worldwide.

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M2 HF SkyeModule Supports Contactless

CO-based SkyeTek announced that the “M2 HF SkyeModule” now provides support for contactless payment, consumer loyalty, and patron management. Based on SkyeTek’s Advanced Universal Reader Architecture (AURA), the M2 can integrate seamlessly into most payment environments, providing support for the contactless payment specifications of MasterCard, Visa, American Express, and Discover. SkyeTek, Inc. develops reader technology that enables the pervasive adoption of RFID as an embedded feature in existing products.

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Survey Says: America’s Credit IQ is Down

The second annual survey of America’s IQ on personal finance from Consumer Action and Capital One finds that Americans continue to fall short in taking steps to protect their credit. Twenty-seven percent of Americans have never checked their credit report – a four percent increase from last year. More than six out of 10 Americans are using budgets regularly and 66% report that they stick to their budgets and modify them rarely or if unexpected expenses arise. An additional 54% of Americans report that they are checking banking and credit account statements more than once a month.

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VISA EMV CARDS

VISA Asia-Pacific reports that the number of EMV chip cards in the region has reached 52 million while the number of EMV terminals in Asia-Pacific has risen to more than 1.5 million at mid-year. VISA says it expects 80% of the terminals in the region to be EMV-compliant by 2010. Markets that have seen more than a 50% increase in the number of EMV chip terminals include Australia, India, Japan, New Zealand, Philippines, South Korea, Singapore and Thailand. At the end of June , 28% of all terminals deployed in Asia Pacific were EMV-compliant. In Japan more than 30 million VISA EMV chip cards have been issued to-date. In Taiwan more than 90% of its terminals are EMV-compliant and six million EMV chip cards have been issued. In South Korea 5.3 million EMV cards have been issued, double the number one-year ago. The Bank of Indonesia has set a chip migration mandate for credit cards by 2009. In Australia, the federal government will soon introduce a chip-based “Access Card” for use in the administration and payment of health and social service benefits. In Asia-Pacific, VISA has a greater market
share than all other payment card brands combined with 62% of all card purchases at the point of sale being made using VISA cards.

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Breast Cancer MasterCard Introduced

Las Vegas-based Cubis Financial and eCommLink have launched the “CureBreastCancer.org Prepaid MasterCard Gift Card.” Sub-prime specialist, First PREMIER Bank is the issuer of the new card. Dr. Ernie Bodai and Cure Breast Cancer teamed with both firms to create the new card. Bodai is the mastermind behind the U.S. Postal Service Breast Cancer Research Stamp. Launched in 1998, it was the first fundraising stamp in U.S. history. About 800 million stamps have been sold to date raising nearly $70 million for breast cancer research.

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Contactless to Drive $36B in Spending

A new report says that mobile contactless payment will be used to drive sales of $36 billion by 2011. The research projects that “FeliCa” alone will drive $900 million worth of payments in Japan during 2006. Boston-based Strategy Analytics says that although greater levels of collaboration between banks, operators and payment networks are required for mobile contactless payments to emerge in the U.S. and across Europe, momentum is gathering, with numerous mobile phone based contactless payment trials planned. These will involve the major stakeholders and should help determine how services will be implemented. However, consumer attachment to existing payment methods, combined with concerns over the security of phone-based systems, as well as competition from alternative contactless devices like plastic cards and key fobs, will slow adoption.

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