Retail Decisions Renames its Fuel Cards

Following the decision to re-brand the Fuelserv business to ReD Fuel
Cards, Retail Decisions has unveiled new fuel card imagery and
network identification branding. Over the coming months, customers will
experience “ReD Fuel Cards” (Europe) new visual identity as it is rolled
out across its fuel cards, network identification and marketing
collateral. In addition, core fuel card products have been named “ReD
Bunker,” “ReD UK Diesel,” “ReD European Diesel” and “ReD BP PLUS Bunker”
card.

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Late Payment Fees Level-Off; Flat Sequentially

Fees for making a late payment have leveled-off over the past two years increasing by 2% per annum and remained flat during June compared to the prior month. Over the past ten years late fees have soared by 137% from $13.21 to $31.37 following a 1996 U.S. Supreme Court ruling. According to CardData, the most common late payment fee in June was $35. On June 3, 1996 the U.S. Supreme Court ruled that card fees should be treated the same as interest rates when it comes to the preemption of state laws. Previously the Supreme Court ruled commercial banks may charge interest rates on credit cards subject to the limitations imposed by the bank’s home state or issuing state, not the cardholder’s state of residence. The ruling gave the same protection to fees associated with a bank credit card program. (CardTrak 1/28/05)

June Late Fees
2002: $27.44
2003: $28.33
2004: $30.01
2005: $30.71
2006: $31.37
Source: CardData (www.carddata.com)

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Asia Pay Teams with ETOP Services

Asia Payment Systems announced that its Singapore-based wholly
owned subsidiary, InterPay International Airtime, has formed a joint
venture company, ETOP Services (Malaysia) Sdn. Bhd. (“ETOP Malaysia”),
to sell prepaid products and services in Malaysia. Asia Payments owns 60
percent of ETOP Malaysia with the other partners being Seacare Holdings
of Singapore, an investment holding company with interests in various
countries in Asia, and KC Yap, a Malaysian entrepreneur, who has
existing interests in telecommunications in Malaysia and Indonesia.
ETOP Malaysia will recruit 2,000 retailers as Authorized ETOP Dealers
who will be supplied with electronic terminals that permit the
downloading of prepaid “stock” on an on-line, real-time basis.

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Oberthur Card Systems Appoints New CFO

Oberthur Card Systems announced the appointment of Francois
Riviere as CFO of Oberthur Card Systems. A graduate of the French
Business School ESCP, Francois Riviere, 53, was formerly CEO of WILSON
GESTION. Previously, Francois was CFO within PROUVOST Group. He
started his career in SCHLUMBERGER Group as controller of the
subsidiaries in France and the UK. Francois Riviere replaces Cyril
Malher who, after 6 years with Oberthur Card Systems, is leaving the
Company.

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Bankruptcy Filing Fees to Jump 110% Since 05

Congress is now considering a measure to raise the filing fee for chapter 7 bankruptcy filings by another $40, with the proposed fee increase coming on top of three previous fee increases that already had escalated bankruptcy filing costs by 90%. Yesterday the National Association of Consumer Bankruptcy Attorneys (NACBA) says even before this fourth increase was proposed, the federally mandated cost of bankruptcy filing already had jumped 90% to $399 since April 2005. Congress increased the cost of filing under the new bankruptcy law passed in April 2005, then further increased the fees in May 2005 under an emergency spending bill, and then did so for a third time in February 2006 in the “Budget Deficit Reduction Act.” The proposed fourth increase in fees would boost the federally required filing costs to $439, a 110% jump from the initial level of $209. The NACBA is encouraging all 3,300 of its attorney members to offer free consultation sessions with consumers in order to ensure that bankruptcy remains available and affordable to those in need.

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Thales Wins Ticketing Contracts in China, UAE and Spain

Thales has recently won three successive ticketing system contracts – for the Beijing Metro, which is overhauling its fare collection system
in time for the “2008 Olympic Games,” the future Dubai Metro and the new
Metronorte line in Madrid – further consolidating its strong reputation
as a systems integrator for secure fare collection solutions worldwide.
In China, Thales has teamed up with local companies Beikong and LG to
win the contract from Beijing Mass Transit Railway Operation Corporation
Ltd. to supply a new ticketing system for the network’s three oldest
lines. In the United Arab Emirates, Thales is to provide the secure
ticketing system for Dubai’s first rail network, which will include two
lines. In Spain, Mintra, the organization responsible for metro
infrastructure in the Madrid region, has once again chosen to work with
Thales.

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FDC & Discover Ink a Merchant Processing Deal

First Data and Discover Financial Services have inked a deal whereby FDC will offer Discover card acceptance as part of an integrated service to small- and medium-sized merchants. FDC will begin pilot programs this quarter in selected geographic areas and plans to offer the solution on a wider scale during the fourth quarter. Discover will continue to process transactions for its larger merchant clients. Smaller merchants will benefit from the FDC/Discover deal by receiving an all-in-one payment processing solution with the convenience of a single source for statements, settlement, and customer service. Under terms of the agreement, FDC will have full responsibility for pricing, processing, settlement, risk management and customer service for the merchant accounts. At the end of the second fiscal quarter (ending 5/31/06) Discover had 45.9 million accounts and 19.6 million active accounts worldwide. (CF Library 6/21/06)

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Credit Card Debit Hits a New High; Volume Weakens

Credit card debt soared to a new record of more than A$35 billion in April. However, credit card volume dropped sharply from the prior month and is up a paltry 1.5% compared to one-year ago. During the past twelve months, credit card debt has increased 16% in Australia. For April, credit card balances increased $600 million from the previous month to A$35.4 billion. One-year ago credit card debt stood at A$30.6 billion. Gross dollar volume on credit card and charge cards in April was A$13.2 billion, compared to A$13.0 billion one-year ago. In March GDV on credit cards was $15.6 billion. The drop-off in volume may be due to surcharges being imposed on cardholders by merchants. Card credit limits reached A$96.1 billion at the end of April, compared to A$84.6 billion for April 2005. There are currently 12.9 million credit card and charge card accounts in Australia, compared to 11.9 million one-year ago.

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New Pago Head of Corporate Communications

Pago changed management of its Corporate Communications department.
After more than six years with the company, Andreas Stefanis has left
the Acquiring & Payment Service Provider. Succeeding him as Head of
Corporate Communications is Tobias Hauptvogel, who will be in charge of
Marketing and PR. Andreas Stefanis has joined the British Payment
Service Provider E-Clear, a Pago Acquiring Partner, where he is in
charge of the company’s global marketing activities.

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Centurion Bank Expands its Euronet ATM Agreement

Euronet Worldwide has expanded its multi-year ATM
outsourcing agreement with Centurion Bank of Punjab from 164 ATMs to 408
ATMs in total. Centurion Bank of Punjab (CBOP) was formed from the
October 2005 merger of Centurion Bank and Bank of Punjab. Of the 408
ATMs in the combined entity, Euronet has been operating 164 ATMs of the
former Centurion Bank since February 2005 prior to its merger and
subsequent formation of CBOP.

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