LIPMAN 2Q/06

Rosh Haayin-based Lipman Electronic Engineering reported revenues of $62.8 million, a 7.7% increase over the year ago quarter.
The electronic transaction systems provider says the growth was powered by growth in Spain and China. Net income for the quarter was $7.5 million, compared to net income of $7.4 million in the second quarter of 2005. The Company says the proposed acquisition of Lipman by Verifone is proceeding according to plan and is on track to close October 31st. VeriFone is paying US$793 million in cash and stock for Lipman. For more details on Lipman’s latest results, visit CardData (www.carddata.com).

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Issuers Need Benchmarking to Survive

A consulting group says credit card issuers need benchmarking to remain competitive. NY-based Auriemma Consulting Group says by exchanging information on core operational activities such as collector promise rates or call center abandon rates, or emerging trends such as the adoption of new regulations or new technologies, and even specialized issues such as treatment strategies for Hurricane Katrina victims, issuers can constantly refine their business model and achieve the desired balance between customer experience and profitability. ACG says it conducted over 100 benchmark studies last year, and is on track to exceed that number this year. ACG also produces a publication called “CardBeat.” CardWeb.com transferred the domain name cardbeat.com to ACG several years ago as a courtesy. However, the Website remains inactive.

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eFunds Revenue Up 14%; Profits Fall 23%

AZ-based eFunds reports that second quarter net revenue increased 14% to $132 million, compared to the same quarter of 2005. However, second quarter net income was $10 million, a 23% decline over 2Q/05. The Company posted a 21% year-on-year gain in its U.S. Payments segment with $68.1 million in revenue. The International segment soared by 53% to $17.9 million. However, the U.S. Risk Management segment sank 4% to $46.4 million. The Company re-affirmed its previously published guidance that 2006 diluted earnings per share will be between $1.15 – $1.25 and reported that it now anticipates that 2006 net revenues will increase 11% to 15% over 2005 net revenues. For complete details on eFunds’ second quarter performance, visit CardData (w[www.carddata.com][1]).

eFunds Revenue Historical
2Q/04: $140.7 million
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
Source: CardData (wwww.carddata.com)

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

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Lipman Second Quarter Revenues Rise 8%

Lipman Electronic Engineering reported revenues of $62.8 million, a 7.7% increase over the year ago quarter. The electronic transaction systems provider says the growth was powered by growth in Spain and China. Net income for the quarter was $7.5 million, compared to net income of $7.4 million in the second quarter of 2005. The Company says the proposed acquisition of Lipman by Verifone is proceeding according to plan and is on track to close October 31st. VeriFone is paying US$793 million in cash and stock for Lipman. For more details on Lipman’s latest results, visit CardData (www.carddata.com).

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Asta Funding’s Q2 Profits Climb 38%

NJ-based Asta Funding reported that net income for the second quarter rose 38% to a record $11.8 million. Revenues increased by 39% to $26.5 million. During the quarter the Company purchased portfolios with a face amount of $1.3 billion at a cost of $34.2 million. Cash collections in the quarter of $60.8 million, were up significantly from the $43.5 million collected in the same quarter a year earlier. Asta says that despite the competitive pricing environment its business relationships and sound pricing have enabled the collection firm to find portfolios that meet its strict investing criteria. As of July 3rd, Asta Funding is now included in the new “NASDAQ Global Select Market. Last month, Asta obtained a new three-year credit facility of $175 million with an expandable feature which allows the Company the ability to increase the line to $225 million. For complete details on Asta Funding’s second quarter performance, visit CardData ([www.carddata.com][1]). (CF Library 6/29/06; 7/12/06)

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

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U.S. Debit Card Statistics Get Skewed

Debit card historical statistics have become skewed as MasterCard begins to lump its PIN debit card activity with its signature card figures. As a result it appears that debit card purchase volume has soared 55% since last year but more likely the true figure is around 18% year-on-year. VISA continues to break out its offline and online debit figures. MasterCard has not previously released online debit card activity in the U.S. During the second quarter, consumers and businesses charged $213.0 billion to their VISA and MasterCard PIN and signature debit cards for purchases. VISA posted $123.1 billion in second quarter signature debit card purchase volume and $35.9 billion in PIN debit purchase volume. MasterCard reported $54.0 billion in online and offline PDV for 2Q/06. For complete current and historical statistics on the U.S. signature debit card market, visit CardData ([www.carddata.com][1]).

U.S. DEBIT SNAPSHOT
(Purchase Volume Only)
2Q/06
VISA $159.0b
MasterCard $ 54.0b
TOTAL $213.0b
Source: CardData (www.carddata.com)

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

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DreamCard MasterCard Awards $580K

An innovative credit card launched two years ago has awarded $580,000 in prize money to-date. The “American DreamCard MasterCard” has a monthly sweepstakes jackpot that starts at $25,000. Cardholders receive 1,000 free entries when they apply for the card and earn an entry for every dollar spent on the card, up to 1,000 entries per purchase. Drawings are held on or about the 15th of each month. The card, issued by HSBC, has no annual fee and offers a five-month 0% interest rate for purchases. The on-going interest rate varies from 11.74% to 21.74% depending on the applicant’s credit score.

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