FreeStar Technology Names a New CTO

FreeStar Technology announced that Jose Enrique Perez has been
named chief technology officer. He replaces Angel Pacheco, who was recently promoted to vice president of new business development. Perez joins FreeStar Technology from Hypercom. He was senior vice president, chief of global offshore development, and general manager of SIA Hypercom Latvia. FreeStar Technology is a payment processing company and owns Helsinki-based Rahaxi Processing.

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GEMALTO 1H/06

The newly formed Gemalto, that combined Gemplus and Axalto, reported that revenues for the first half of this year declined slightly to $1.036 billion and that gross profit dropped more than 8% during the same period. Net profit fell sharply to $34.4 million, down 47% year-on-year due to extraordinary expenses associated with the merger.
On a geographic basis, revenue was up 3% in Asia, driven by Identity &
Security and Secure Transactions. In EMEA, revenue was almost stable,
while in the Americas revenue was down 6%. Microprocessor card shipments grew 39% to 561 million units. Point-of-Sale terminals revenue fell 22% to $38.6 million. For complete detail on Gemalto’s latest performance visit CardData (www.carddata.com).

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U.S. Issuers Offered MC’s OneSmart Program

AZ-based TranSend International this week introduced MasterCard’s internationally successful “OneSMART” program to the U.S. market. The program covers every aspect necessary to launch a smart card program with maximum flexibility. TranSend co-developed over seven years the “CAP” protocols and co-developed “MODS” for MasterCard based on its proprietary “PocketServer” software. One-year ago MasterCard purchased “PocketServer v3.2” for issuance on its European smart cards. “PocketServer” and “PocketServer Plus” have more than 5 million users, providing a convenient and secure online experience coupled with two-factor authentication. The firm also offers “CardTouch,” a stored value clearinghouse platform. (CFI Library 8/5/05)

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SEPA Compliance Costs May Top 3 Billion Euros

A new report has determined that the top 100 European banks will likely spend more than 3 billion euros to comply with the “Single Euro Payments Area” project. The recent survey from Accenture also found that more than 60% of respondents say they will use temporary solutions to meet 2008 deadline. “SEPA,” along with related initiatives, is a regulatory effort to simplify and standardize the vast and fragmented payments market in Europe and reduce cross-border hindrances to payments processing. “SEPA” is affecting all aspects of electronic payments, including card payments, credit transfers and direct debits, thus impacting banks, processors, and their consumer and corporate customers.
Forty percent of bank respondents said they expect to invest between EUR
11 million and EUR 50 million for ACH-type capabilities over the next
five years, and 34% said they expect to spend in the same range
for card-processing systems.

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XM Radio Joins the ScotiaStar Network

XM Satellite Radio has joined Scotiabank’s credit card rewards program, the “ScotiaStar Network.” “ScotiaStar” members who sign up for XM Satellite Radio will receive a 5% cash rebate on the “No-Fee ScotiaGold VISA” card, “ScotiaLine VISA” account and “Scotiabank
Value VISA” card; or 5 times the “Scotia Rewards” points on the “ScotiaGold Passport VISA” card, or 5 times the “Scotia Moneyback” reward on the “Scotia Moneyback VISA” card. The rewards or savings apply to both the radio and service subscription.

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UATP Announces BSP Hong Kong & BSP China

UATP has added two new direct connections to the “International Air Transport Association” “Billing and Settlement Plan.” BSP Hong Kong and BSP China join over thirty BSPs worldwide, which process UATP transactions directly with ATCAN, UATP’s central, global transaction- processing system. Once a BSP is connected to ATCAN, it can send data directly to ATCAN on a merchant’s behalf. Merchants simply have to instruct the BSP to send the data to ATCAN and discontinue their current method for submitting BSP data to ATCAN.

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Citibank Launches Credit Plus Insurance Program

Citibank has introduced a credit insurance program that, for the first time in the UAE, covers involuntary loss of employment. The “Credit Plus” program covers outstanding balances against permanent and
temporary total disability, and against death with an additional flat
benefit of US$5,000 payable to the assigned beneficiary. It also provides a fixed daily amount for hospitalization, and monthly payments for involuntary loss of full-time employment caused by business closure or company layoffs.

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K23P & PCI/PED

Keycorp’s “K23P” POS terminal/PINpad has been certified to the
“Payment Card Industry” “PIN Entry Device” standard. Independent laboratories evaluate the architecture of both the PINpads hardware and software design against the industry’s most stringent criteria. “PCI PED” was established by MasterCard and VISA for the secure management,
processing and transmission of PIN data. Keycorp is also a founding member of the “MULTOS” consortium. Keycorp develops and distributes smartcard operating systems such as “MULTOS,” as well as smartcard applications.

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Symstream and NCR to Offer Wireless ATMs

Symstream Technology Group has teamed with NCR EasyPoint to globally market a range of “EasyPoint” ATMs with Symstream wireless technology. The wireless ATMS will initially be deployed in developing countries that have extensive GSM voice networks, but limited data
networks. The alliance will focus first on opportunities in Indonesia,
India and other parts of the Asia-Pacific region. Symstream is already working with a number of wireless-phone carriers throughout Asia, Australia and the Indian subcontinent, providing a highly secure wireless solution to connect ATMs and EFTPOS devices to banking networks.

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FleetCor Acquires Keyfuels Fuel Card Processing

CH Jones/Keyfuels, a major U.K. fuel card processing company, is being acquired by Atlanta-based FleetCor. Keyfuels serves more than 30,000 business fleets directly and through an extensive association of
reseller partners. With the Keyfuels acquisition, FleetCor will process for more than 500,000 business fleets, making it the largest worldwide fuel card processing. Keyfuels will continue to be run by Chris Welsh who will join FleetCor’s leadership team reporting to Ron Clarke, FleetCor’s Chairman & CEO.

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GlobalCollect Triples Child Hunger Donations

The United Nations World Food Program’s “Fight Hunger: Walk the World” initiative has seen its contributions triple by offering direct access to payment processing through GlobalCollect. The initiative led by the World Food Program said the results were encouraging after three months of donations and subsequent payment processing made online through their Web site http://www.fighthunger.org. GlobalCollect has had successful track record with collection and reconciliation of payments, invoice printing and distribution in over 200 countries.

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