NCO Group Names a New CFO and COO

Pennsylvania-based NCO Group has promoted John Schwab, formerly the Company’s SVP and Chief Accounting Officer to EVP/CFO, and Steven Winokur, the Company’s former CFO, to EVP/COO of Shared Services. Schwab joined the Company in April 2004 with the acquisition of RMH Teleservices, Inc. and has been responsible for the financial accounting, accounting policy implementation, and reporting. Winokur served as the Company’s CFO since 1995. Over the past several years he has focused increasing amounts of time on the development of the company’s shared services infrastructure, including focus on ERP and off-shoring. NCO Group is a global provider of business process outsourcing services.

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Trintech Revenues Edge Down in Q1

Dublin-based transaction reconciliation and payment infrastructure specialist Trintech Group reported first quarter revenues of $11.1 million, a 15% decline over 1Q/05 due to lower product and license revenues. The net loss for the quarter was $2.1 million, compared to net income of nearly $400,000 one-year ago. During the quarter, Trintech announced the acquisition of Assurity Technologies for up to $5 million and a partnership with Dresser Wayne. Several “ReconNET” clients were signed including Lloyds TSB Asset Finance Division, Driehaus Capital Management and Canada’s The Bargain! Shop. For complete details on Trintech’s latest results, visit CardData (www.carddata.com).

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Debt Levels Hit the Brakes in 2005

A new study has found that consumers have increased their debt by 3.6% last year after increasing 8.6% in 2004. Over the same two-year period, minimum monthly payment obligations have increased by 10%. Experian’s “National Score Index” also found that the number of late payments increased nearly 20% between 2004 and 2006. The “Index” is based upon a nationwide sampling of the million consumer credit profiles. The figures do not include mortgage debt.

Feb 2004 Feb 2005 Feb 2006

Avg Debt: $10,371 $11,261 $11,669

Avg Payment: $489 $506 $538
Avg Late Pay: 0.78 0.88 0.93
Avg Inquiries: 2.59 2.43 2.33
Avg Open Credit Cards: 3.17 3.12 3.11
Source: Experian’s National Score Index

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Al Rajhi Bank Deploys ACI’s Software for EMV Cards

Al Rajhi Bank (ARB) has licensed ACI Worldwide’s “Smart Chip Manager” and will use the software to manage the issuing and acquiring processes of its smart card deployment of 4.3 million cards over its 1,500 ATMs and 400 branches. “Smart Chip Manager” will enable ARB to issue debit cards that will support secure international EMV payments as well as the smart card enabled domestic SPAN2 payments framework. “Smart Chip Manager” will be used to migrate the credit card portfolio of ARB to the EMV standard. ARB will be the first bank in the region to instantly issue smart cards.

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ACCESS DineroYa Cards Add a Client

The Florida chapter of the League of United Latin American Citizens has entered into an agreement with Access Card Systems to offer its members the “ACCESS DineroYa Prepaid MasterCard” and the ACCESS DineroYa Maestro Card issued by BankFirst. The cards serve a large population of young adults, recent immigrants and other consumers who do not have bank accounts, cannot qualify or do not want credit cards. LULAC is the largest and oldest Hispanic Organization in the United States. Access Card Systems is a registered MasterCard Membership Service Provider.

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TRINTECH 1Q/06

Dublin-based transaction reconciliation and payment infrastructure
specialist Trintech Group reported first quarter
revenues of $11.1 million, a 15% decline over 1Q/05 due to lower product
and license revenues. The net loss for the quarter was $2.1 million,
compared to net income of nearly $400,000 one-year ago. During the
quarter, Trintech announced the acquisition of Assurity Technologies for
up to $5 million and a partnership with Dresser Wayne. Several
“ReconNET” clients were signed including Lloyds TSB Asset Finance
Division, Driehaus Capital Management and Canada’s The Bargain! Shop.
For complete details on Trintech’s latest results, visit CardData (www.carddata.com).

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Springbok Services Becomes MC Certified

Colorado-based Springbok Services, a prepaid MasterCard specialist via Key Bank, has become the 20th company in the U.S. to be certified for personalizing, embossing, encoding and mailing MasterCard, Maestro or Cirrus Cards for members. Springbok is a provider of program management, processing and fulfillment services for prepaid MasterCard card programs issued through KeyCorp.

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NFC to Migrate from Cards to Phones

A new research report suggest that “Near Field Communications” technology for payments will shift from cards to phones due to the limited functions of cards. ABI Research says that over 40 million cards, mini-cards, and fobs will ship globally in 2006, compared to 10 million contactless payment cards last year. By 2010, ABI predicts more than 50% of cellular handsets, or about 500 million units, will incorporate NFC capabilities that will be used not only for payments at points of sale and remotely, but also to access information from smart objects. Technology vendors, cards issuers and a wide variety of service and product providers will have to think holistically.

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Zoot Intros an Automated Test File Builder

Montana-based Zoot Enterprises has released its “Diakon Automated Test File Builder” to enable users to create and modify test files to accurately and completely evaluate an institution’s decisioning logic and audit the performance of credit scoring applications. Diakon users can easily create and modify test files to accurately and completely evaluate an institution’s decisioning logic and audit the performance of credit scoring applications. Diakon’s browser-based architecture lets users build as many custom test files as necessary to thoroughly test and evaluate decisioning logic by using a range of possible data elements and values. Diakon is a Java-based application accessed through a standard Web browser.

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VeriFone Holdings Profits Soar 70%

VeriFone reported that its profits rose 70% to $15.0 million for the three months ending April 30th. Revenues for the quarter were up 21% to $142.2 million compared to one-year ago, driven by a 38% increase in net revenues from its International business. During the quarter the Company announced its upcoming acquisition of Lipman, valued at $793 million. VeriFone also announced U.S. availability of the “Vx 570” countertop payment solution and inked a $7 million contract from RBS Lynk to provide payment solution systems and connectivity services for resale to U.S. merchants. For complete details on VeriFone’s latest performance, visit CardData ([www.carddata.com][1])

REVENUE HISTORICAL
1Q/04: $ 89.5 million
2Q/04: $104.0 million
3Q/04: $108.6 million
4Q/04: $111.3 million
1Q/05: $117.9 million
2Q/05: $125.7 million
3Q/05: $130.5 million
4Q/05: $134.6 million
1Q/06: $142.2 million
Source: CardData (www.carddata.com)

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

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