VIETCOMBANK & MTV

Vietcombank has teamed with MTV Asia to launch a debit card targeted at the youth market. The “Vietcombank-MTV MasterCard” offers special discounts at music retailers, resorts, electronics stores and other youth oriented retailers. The bank said the new card is part of the State Bank of Vietnam’s plan to promote cashless payments throughout Vietnam. The card was introduced in a ceremony last week featuring the “Double Trouble” twins from Malaysia.

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UTI Bank to Launch VISA Credit Cards

UTI Bank announced plans to issue VISA credit cards. The bank will begin issuing the cards to Mumbai customers soon and will launch the cards nationwide before year’s end. “Silver Plus” cardholders will receive a 10% to 50% discount at hotels worldwide. “Gold Plus” cardholders will receive a guaranteed 50% discount at 120
hotels across India. The bank is also planning to add a “Platinum VISA” to its credit card offerings. UTI currently has 4.7 million debit card customers.

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Fiserv Intros Bill Payment Solution

Fiserv has introduced a new online bill payment solution. “Paytraxx” uses a pay-anyone model enabling users to make payments in the same session, choosing from immediate, one-time and recurring payment schedule options. Users set up payments from a single screen, plus access payment status, review detailed payment history and download account information to their personal financial management software. “Paytraxx” processes payments through Fiserv’s dedicated TruSecure certified data center. The new solution was developed by expanding an established bill payment solution from Fiserv’s IntegraSys business unit, based in Frisco, TX. The new business unit is led by SVP/GM Kim Killingsworth, a 23-year industry veteran and former executive for both Fiserv’s eSolutions and Information Technology business units.

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Cyphermint Intros mCommerce Solution

MA-based Cyphermint has unveiled a mobile phone payment using “PayCash” technology. The new “PayCash Mobile” solution allows any Internet enabled phone to act as a mechanism for payment authorization across a variety of usage scenarios. It is not a text messaging service linked to third party payment processing services. The account is also linked to a stored value card, which allows users to load funds into the account as well as withdraw money at any ATM in the network. Cyphermint was recently awarded the patent for RSA signature, which is used to create a virtual coin to transfer funds from different accounts over the Internet, secured by its proprietary 1024 bit encryption. The Company has also created the “PayCash Mall” that will enable merchants to offer select goods and services on the mobile, Web and kiosk platform simultaneously.

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PayByCash Accepts Chinese Debit Cards

VA-based Internet Payment Solutions d/b/a PayByCash has added the ability to accept payments via most of the popular Chinese debit cards. English-speaking Chinese consumers are a large segment of China’s young, Internet-savvy population. Internet content providers that are accessible to this huge demographic can reap significant revenues. As is often the case when trying to sell into growing markets, that kind of accessibility is not attained by credit card acceptance alone. Internet Payment Solutions, Inc. has been empowering non-credit-card customers and the Internet businesses that want to reach those customers since April, 1998.

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Hypercom Q2 Revenues Climb 10%

Hypercom posted a 10% increase in revenue for the second quarter of $66 million. The terminal maker says an expansion in Brazil, increased product sales in Mexico and growth in certain Central European markets were the revenue drivers. Net income before discontinued operations was $4.2 million compared to a loss of $18.1 million in 2Q/05 and net income of $2.8 million in the first quarter of this year. (The 2005 second quarter loss included restructuring charges of $16.0 million.) During the quarter Hypercom entered into marketing initiatives with Symbol Technologies, Wincor Nixdorf, StoreNext Retail Technologies, NOVA Information Systems, Fifth Third Bank Processing Solutions, and Element Payment Services. The Company also entered the Portugal market and expanded its presence in Africa. Hypercom has now expanded to 90 its number of international distributors. The Company rolled-out the “P4100 PIN Pad,” the first universal RF-enabled multi-application PIN entry device that meets the PCI security standards. Hypercom also introduced the “Optimum M4100 Blade,” the first high-security palm-sized 32-bit wireless credit/debit terminal with signature capture touch screen. Additionally, the Company introduced, during the second quarter, a new network server appliance enabling plug-and-play deployment of value-added applications for retailer POS systems. For complete details on Hypercom’s second quarter results, visit CardData ([www.carddata.com][1]). CF Library 4/19/06; 4/20/06; 4/21/06; 6/14/06)

HYPERCOM REVENUE HISTORICAL
2Q/04: $63.1 million
3Q/04: $62.8 million
4Q/04: $74.6 million
1Q/05: $50.6 million
2Q/05: $60.2 million
3Q/05: $66.5 million
4Q/05: $68.1 million
1Q/06: $61.0 million
2Q/06: $66.1 million
Source: CardData (www.carddata.com)

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

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ID Theft Concerns Drive Report Requests

The ABA has released a survey that shows that 32% of consumers said they requested a free copy of their credit report because they were concerned about identity theft. Twenty-nine percent obtained it because it was free, 27 percent got it when applying for a loan, and 5 percent of consumers request it annually. The ABA Education Foundation webpage provides tips for protecting your financial identity.

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Cubis Signs Pacific Card Services

Pacific Card Services has signed a multi-year service agreement with Las Vegas-based Cubis Financial for stored-value and gift card support services. Pacific will market tens of thousands of fund-raising gift cards to the affinity market during the remainder of 2006. The firm currently is working with several national 501c3 organizations, including CureBreastCancer.org, to establish fund-raising opportunities. Pacific Financial Solutions is a leader in providing cashless ATMs featuring point-of-banking terminal technology, gift cards and prepaid stored-value cards at locations throughout the United States. Cubis Financial, Ltd. is a technology-driven financial services marketing company.

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GreenZap Introduces Buy Now Buttons

San Diego-based GreenZap has introduced “Buy Now” buttons for online merchants as part of its “Merchant Tools” suite. The new Buy Now functionality, commonly referred to as a merchant API (application program interface), can easily be downloaded from GreenZap’s website and integrated as a pay button into the merchant’s website or shopping cart application. GreenZap, Inc. enables any business or individual with an email address to send and receive money securely and cost-effectively online.

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Acceptable Customer Service Wait Times

A new survey reveals that 26% of consumers are “extremely satisfied” by the overall telephone customer service with credit card companies. Credit card companies also recorded the second shortest wait time at 1.79 minutes. The research for Discover by Creative & Response Research Services found that reaching knowledgeable customer service representatives is “extremely important” to 65% of respondents, followed closely on the heels (64%) of the ease of reaching a “live” person on the phone, and resolving their issues in a single phone call (61%). The survey revealed that 65% of consumers consider a wait time “reasonable” as long as it is less than two minutes. About 73% prefer to contact customer service using a toll-free number. Additionally, 18-34 year old respondents were the most demanding age group across half of the categories that were surveyed.

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Barclays Sews Up a Jo-Ann Card Deal

The largest specialty retailer of fabrics and crafts has teamed with Barclays Bank Delaware (f/k/a Juniper Bank) to launch a cobranded “Platinum MasterCard.” The new card offers cardholders five points for every $1 spent at Jo-Ann and one point per $1 spent elsewhere. Once a customer earns 1,000 points a $10 “creative cash” card is issued. For every 500 points earned above 1,000 points, customers receive an additional $5 in “creative cash.” For the first purchase or balance transfer, cardholders receive a $10 “creative cash” card. Jo-Ann operates more than 800 stores in 47 states. Barclays has about 40 existing card partnerships in the USA.

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