Ernex Powers the Delta Hotels Gift Card

Ernex is providing its real-time loyalty and gift card technology to Delta Hotels. The new gift card comes in several fixed
values including $25, $50, $100 and $250. Variable gift cards are also available to be purchased for corporate incentives or for employee reward programs for values between $100 and $5000. Delta Hotels
also plans to use the variable gift cards for marketing programs, as compensation rewards for high-value customers, or as rewards for their Delta “Privilege” loyalty program members. Ernex has managed the technology behind the Delta “Privilege Membership Card”
since January 2003. Ernex is a division of Moneris Solutions. Delta Hotels has 37 city centre and airport hotels and resorts in Canada.
It is a wholly owned subsidiary of Fairmont Hotels.

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MC to Launch the Small Business Challenge

MasterCard will kick-off its new “Small Business Challenge” in New York City this Friday with appearances by “The Apprentice” winners Bill Rancic and Kelly Perdew. SVP of Corporate Payment Solutions Steve Abrams kicks off the MasterCard “Small Business Challenge” in Union Square and will be available to discuss MasterCard small business initiatives including the “Get Wired” Sweepstakes, the “Small Business Challenge” and the multi-city “Small Business Technology Download”. During the “Small Business Challenge”, Rancic and Perdew will lead a group of small business owners competing for an office make-over.

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MasterCard in a Breast Cancer Fundraiser

MasterCard and Linens ‘n Things have launched an October fundraiser for the National Breast Cancer Foundation whereby customers making a $1 contribution will have it matched by Linens ‘n Things and MasterCard for a total contribution of $3. Linens ‘n Things will match each dollar donation made, up to a total of $100,000. In addition, when store guests donate $1 to the National Breast Cancer Foundation when using a MasterCard card for their purchases, MasterCard(R) will match the dollar donation, up to $100,000. Linens ‘n Things with 2004 sales of $2.7 billion, is a national large format retailers of home textiles, housewares and home accessories.

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Publix Super Markets Takes on Interchange

FL-based Publix Super Markets has filed a federal antitrust lawsuit against VISA and MasterCard over their interchange business practices. The suit alleges the associations and their members engaged in deceptive practices and restricted competition. The suit also claims that interchange charged to retail merchants is anti-competitive. Publix, with 865 stores in the South, joins the wave of approximately 40 other interchange lawsuits filed by merchants making similar charges. Last week, the National Association of Convenience Stores, the National Association of Chain Drug Stores, the National Community Pharmacists Association and the National Cooperative Grocers Association filed an antitrust, class-action lawsuit against VISA, MasterCard, BofA, Citibank, Bank One, Chase, Capital One, among others, alleging the defendants colluded in setting interchange fees for credit cards. The first major lawsuit by merchants to take on U.S. interchange fees was filed in October 2004, shortly after the U.S. Supreme Court refused to hear VISA and MasterCard appeals in the “Wal-Mart” debit card lawsuit. (CF Library 9/27/05)

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VISA Supports IFC’s Credit Bureau Program

VISA International and the International Finance Corporation, the
private sector arm of the World Bank Group, announced an
agreement to support the development of credit bureaus in developing
economies. VISA International will be the first private sector
organization to contribute to IFC’s “Global Credit Bureau Program.”
VISA will provide financial support to IFC’s “Global Credit Bureau”
Program in emerging and developing markets which in the first year of
the program will include Brazil, Bulgaria, Nigeria, the Philippines,
Romania, Ukraine, the United Arab Emirates, and Vietnam. Further, Visa
will provide technical support where needed, which may include sharing
expertise on credit risk management and disseminating best practices
to banks. IFC is an internationally recognized leader in advancing
credit bureau development and provides financial markets technical
assistance in more than 130 projects in 56 countries, worth $130
million in donor commitments as of June 2005.

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VISA Signs Ventus for Wireless Services

VISA has signed a multi-year agreement with Ventus Networks to provide wireless financial transaction routing technology and network management as part of their emerging products and services. Ventus Networks high-speed wireless transport solution operates in conjunction with TCP/IP and legacy protocols, enabling any remote device to communicate through a single network scheme. Ventus’ secured transport solution is recognized as falling within the VISA guidelines for CISP compliance. Ventus Networks is a full-service end-to-end global communications provider that specializes in designing, implementing, and managing complete private networks.

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US Bank Promotes Fleet/Aviation Card Exec

U.S. Bank has promoted Danny Moos to SVP/Business Manager for its “Voyager Fleet Card” and “Multi Service Card” Moos, 55, previously vice president of planning for Voyager, will now be responsible for the ongoing strategic development, day-to-day management and product management tied to these two business units, which are each uniquely positioned as one of the top two companies in their respective transportation fueling markets. Prior to joining U.S. Bank, Moos was executive vice president and chief financial officer at FleetCor Technologies, and held similar executive positions with publicly traded companies Phonetel Technologies and LDI Corporation. U.S. Bancorp has more than $204 billion in assets and is the 6th largest financial services holding company in the United States.

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Small Ticket Volume Could Top $50B in 05

Small ticket credit/debit card purchases may approach or exceed $50 billion this year. Last year, Americans racked up more than $35 billion in small ticket purchases, led by quick service restaurant credit/debit card purchases. This week, VISA reported that gross dollar volume for its six small ticket segments, which qualify for its “Small Ticket Payment Service,” grew to $2.2 billion in volume during August, an increase of 49.9%. Between 2003 and 2004, small ticket sales increased nearly 50% from $23.7 billion. Fast food sales in 2004 hit $22.5 billion, wherein the average ticket hovers around $11 per transaction. Credit/debit card sales of transactions $5 or less, grew from $10.8 billion to $13.5 billion during 2004. Under $5 transactions are expected to hit $18 billion this year.

Small Ticket Card Transactions Historical
2000: $ 5.7 billion
2001: $ 9.7 billion
2002: $14.0 billion
2003: $23.7 billion
2004: $35.5 billion
2005: $48.8 billion
Source: CardData (www.carddata.com)

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VeriFone Vx 510 Approved by GIE

VeriFone has received CB5.2 certification
from Groupement des Cartes Bancaires for its “Vx 510” countertop payment
solution. The “Vx 510” is a member of Vx Solutions, VeriFone’s
next-generation payment terminal family providing a range of
connectivity protocols, high security and consistent user
interface. Compliance to the “CB5.2” standard is mandatory for POS
suppliers operating in the French market. “Vx 510” runs on VeriFone’s
“Verix” multi-application operating system that contributed significantly to the rapid certification process. Vx Solutions extend VeriFone’s product lines targeted at the countertop merchant, wireless TablePAY and multi-lane consumer activated market.

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VISA’s First Card Security Summit Underway

VISA’s is hosting its first “Card Security Summit” in Washington, DC this morning with Rudy Giuliani and John Coghlan as keynote speakers. The summit, titled “Cardholder Security in the New Electronic Payments Age,” will cover a wide range of current issues, including, reducing the threat of data compromises, protecting customer information, fighting fraud and helping ID theft victims.

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VISA COMMERCIAL

VISA International reports that global gross dollar volume for its four commercial payment solutions was up 27% year-on-year for the
four quarters ended June 30th. The record US$255 billion in GDV was driven by business development and government adoption of VISA Commercial. One-year ago VISA hit the US$200 billion milestone in worldwide commercial volume. In 2001, VISA reached the US$100 billion mark. VISA’s commercial payment solutions include “VISA Business,” “VISA Corporate,” “VISA Purchasing,” and “VISA Commerce.” VISA made the announcement at the annual “EuroFinance International Cash and Treasury Management” conference in Berlin.

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