First Data Introduces the FD-100 Terminal

FL-based SLIM CD has re-certified with Global Payments for its Slim CD software and gateway services. The Slim CD gateway and software supports keyed and swiped credit card transactions, pin-based debit transactions, check transactions and gift/loyalty transactions. The Slim CD includes a desktop application, virtual terminal, and a shopping cart. Global Payments Inc. is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Latin America, Europe and the Asia Pacific region. SLIM CD, Inc is a wholly owned subsidiary of Online Commerce Corporation (OCC), a privately held credit card software developer and gateway service provider.

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BB&T Signs with FIS’ Card Services

BB&T Bankcard has signed a multi-year consumer and commercial credit card processing agreement with FIS’ Card Services division. Under the terms of the five-year agreement, FIS will process all transactions for consumer and commercial credit cards issued by BB&T Bankcard Corporation. Fidelity National Information Services, Inc. is a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, mortgage lenders and real estate professionals. BB&T Corporation is the nation’s ninth-largest financial holding company, with assets of more than $116 billion.

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FDC Spins-Off Western Union Tomorrow

Western Union is expected to undergo its tax-free spin-off tomorrow from First Data. Shares are trading on a when-issued basis ahead of the spin-off and will begin regular trading on October 2nd. The stock opened at $20 a share last week but slipped to about $18 per share. Yesterday, Western Union announced that Lord Dennis Stevenson, Chairman of HBOS, and Linda Fayne Levinson, an independent advisor to professionally funded, privately held ventures, will be elected to its Board of Directors. Last week, the Company said its expects 2006 revenue to be 11% to 12% above the prior year possibly hitting $4.5 billion. Excluding expenses related to its spin-off, operating income should fall between $1.32 billion and $1.34 billion. For 2007, Western Union expects revenue growth in the range of 10% to 12%, excluding acquisitions. (CF Library 11/19/06)

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VISA Commercial GDV Rises 24% Y/Y

VISA International reports that global gross dollar volume for its four commercial payment solutions was up 24% year-on-year for the four quarters ended June 30th. The record US$317 billion in GDV was driven by business development and government adoption of VISA Commercial. Two years ago VISA hit the US$200 billion milestone in worldwide commercial volume. In 2001, VISA reached the US$100 billion mark. VISA’s commercial payment solutions include “VISA Business,” “VISA Corporate,” “VISA Purchasing,” and “VISA Commerce.” VISA made the announcement at the annual “EuroFinance International Cash and Treasury Management” conference in Florence, Italy.

VISA GLOBAL COMMERCIAL GDV
2001: US$100 billion
2002: US$149 billion
2003: US$178 billion
2004: US$200 billion
2005: US$255 billion
2006: US$317 billion
Source: CardData (www.carddata.com)

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VISA Named World’s Leading Credit Card

The World Travel Awards has named VISA the “World’s Leading Credit Card” for the ninth consecutive year. This enabled over 167,000 travel agents and professionals in over 200 countries worldwide the opportunity to let the world know who they think are the best in the travel industry. The winner was chosen from the following payment cards — American Express, Diner’s Club, JCB, MasterCard and Visa. Visa connects cardholders, merchants and financial institutions through the world’s largest electronic payments network.

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GE Introduces the ShopNBC MasterCard

ValueVision Media and GE Retail Consumer Finance have inked a multi-year deal for a cobranded credit card and for enhancements to its current private label credit card. ValueVision Media operates ShopNBC, an Internet retailer. The new “ShopNBC MasterCard” will offer a rewards program and the “ShopNBC Credit Card” will offer a broader range of credit options. The new credit cards are being marketed across multiple channels — online at ShopNBC.com, on-air via ShopNBC television broadcasts, reaching over 65 million households, and through direct mail marketing promotions. ShopNBC is one of the top three television shopping networks in the U.S.

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Best Buy and HSBC Launch a MasterCard

Consumer electronics giant, Best Buy, has expanded its “Reward Zone” program with the launch of a new credit card. The new “Best Buy Reward Zone MasterCard” offers rewards of 4% on Best Buy purchases and up to 2% on purchases made elsewhere. Best Buy also announced that it has eliminated the membership fee on its “Reward Zone” program. Under the “Reward Zone” loyalty program members earn one point for every dollar of qualifying purchases at Best Buy stores and Best Buy online. The new credit card version of the program is being issued by HSBC. In November 2001, Household, which was acquired by HSBC in 2003, signed a seven-year, exclusive private-label credit card agreement with Best Buy. Household managed part of Best Buy’s branded retail credit card program for nearly eight years prior to the deal. Household also launched a program in 2001 that allows customers to apply for the Best Buy card and a Household Bank MasterCard simultaneously. Best Buy has more than 1,100 retail stores across the U.S., Canada and in China. (CF Library 11/19/01)

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Green Dot Network Passes PCI Audit

Green Dot has successfully completed its first “PCI Data Security Standard” audit. The PCI Data Security Standard is a multifaceted security standard that includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures. Green Dot Corporation is America’s first and largest provider of prepaid cards sold at tens of thousands of locations across the United States, including Rite Aid, CVS Pharmacy, RadioShack, and Walgreens.

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TSYS Signs a Card Issuer Deal in Japan

TSYS has nailed its first processing relationship with a card-issuer in Japan. TSYS will support a new co-branded VISA to be offered by Toyota Finance and Nikko Cordial Securities. Next month, Toyota Finance will issue the “VISA Platinum” cards for customers of Nikko Cordial Securities. The card will be linked to the customer’s brokerage account facilitating the cash access via domestic ATMs and purchase transactions in Japan and overseas. Given the fact that many Nikko Cordial customers hold accounts in more than two currencies, cardholders can settle with yen-based account for domestic transactions and with U.S.-dollar-based account for overseas transactions. TSYS is the only third-party payments processor in Japan that currently offers multi-currency and multi-function support.

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PDS Launches an IVR Card Application

TX-based Payment Data Systems announced the general availability of an IVR application for credit card sales over the phone. The product is an Interactive Voice Response (IVR) application that allows a merchant or service provider to use a telephone to call a special number in order to enter its merchant ID and card number to process a credit card sale. Once the sale is approved, the system provides real time access from the merchant’s accounting department to view the transaction. Payment Data Systems, Inc. is an integrated payment solutions provider to merchants and billers.

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EVO & Cynergy Data Plan to Merge

EVO Merchant Services and Cynergy Data have agreed to merge into one entity to be called EVOcynergy. Combined the new company will service just over 160,000 merchants and will process $16 billion annually, making it one of the largest merchant acquirers in the U.S. today. In addition, EVO will be one of the first to issue credit cards to their merchant base in the late third quarter. EVOcynergy will be headquartered in Melville, NY. Ray Sidhom will head the new organization as its CEO and Marcelo Paladini will be President. EVO currently has an estimated annual credit card transaction volume of over $10 billion and a portfolio of 120,000 merchants. Cynergy Data currently processes over $6 billion annually and provides credit card services to more than 40,000 merchant accounts in the U.S. market.

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