USTT-Powered PictureStation Kiosks Deployment

USA Technologies, the provider of a credit card technology solution for Sony’s “PictureStation” kiosks, announced that the kiosks will be installed on 14 university campuses by the end of this year. The PictureStation kiosks will enable students to print their digital photos, scan and print photos and burn their digital photos onto CDs simply by swiping their debit/credit cards. USA Technologies provides networking of wireless non-cash transactions, associated financial/network services and energy management.

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Global Payments Hires a VISA EVP as EVP-CMO

Global Payments has hired Kevin Schultz, former EVP for Client Services at VISA USA, as EVP-Chief Sales and Marketing Officer, effective October. During his extensive career in the payments industry, Schultz was responsible for maintaining and growing the more than one trillion dollar Visa sales volume in the U.S., as well as growing and enhancing customer relationships, sales, implementations and customer support for Visa banks, merchants and data processors. Global Payments Inc. is a provider of electronic transaction processing services worldwide.

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Affordable Telecommunications and Cash Now Team

Houston-based Affordable Telecommunications Technology and Cash Now have signed a distribution agreement for Asia. Affordable Telecom will seek governmental licensing for Cash Now — ATM services as well as opening franchises in the region. The potential revenue for 100 stores and 300 ATMs is to generate $31,000,000 annually. In order to facilitate the expansion and growth, the company also announced today that it has in principle secured a $10,000,000.00 to $50,000,000.00 USD line of credit.

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Morgan Beaumont Intros the Prestige Payroll Card

Morgan Beaumont has launched the “Prestige Payroll Card,” supported by First Gulf Bank. The Prestige Payroll Card is a PIN-based and signature Visa-branded prepaid debit card that can be loaded with funds via employer payroll direct deposit and can be used to access those funds at ATM machines worldwide and anywhere Visa debit cards are accepted. Morgan Beaumont, Inc. is a technology solutions company and provider of stored value and debit card solutions.

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Discover, MasterCard & Others Join Relief Support

More credit card issuers have jumped on the bandwagon to support victims of the recent Katrina hurricane. To-date, bank credit card issuers and networks have pledged more than $15 million for relief expenses related to Hurricane Katrina. Morgan Stanley has allocated more than $1 million in support for the victims of the disaster and has established an employee matching program up to $500,000. Morgan Stanley’s Discover Financial Services has offered its affected cardholders payment relief, emergency replacement cards, emergency PIN numbers and other special services. Discover is also rebating all merchant fees associated with disaster relief contributions to the Red Cross made with Discover Cards and has enabled cardholders to donate their “Cashback Bonus” directly to the Red Cross. MasterCard has contributed $500,000 to the American Red Cross, $500,000 to AmeriCares and donated its advertising space in USA Today to the Red Cross. American Express has made an immediate donation of $500,000 to the Red Cross and will add $500,000 as a guaranteed minimum match of employee donations. HSBC North America is waiving late fees, over-limit fees and cash-advance fees for affected cardholders. Chase’s credit card unit is now deferring payments at least 30 days, waiving late fees and over-limit fees, and will file no negative credit bureau reports for 90 days for affected cardholders.

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Fair Isaac is Analytic Applications Market Leader

IDC has recognized Fair Isaac as the worldwide revenue leader in the analytic applications market for the third consecutive year. According to a recent IDC report, Fair Isaac led the worldwide Analytic Applications revenue category in 2004 with revenues of $384.5 million, an increase of more than 25 percent in revenues from 2003. Fair Isaac provides analytic applications that include predictive models and strategy optimization for business decision making.

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Jack Henry’s Symitar Names a New President

Jack Henry & Associates announced that Kathy Hooker-Burress has been named president of its Symitar subsidiary, a provider of software systems and related services for credit unions. Hooker-Burress has served as Symitar’s manager of national sales for more than five years, and has been instrumental in establishing Symitar’s Episys processing platform used by credit unions with assets exceeding $25 million. Jack Henry & Associates, Inc. is a provider of integrated computer systems and processor of ATM/debit card/ACH transactions for banks and credit unions.

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CARD BONDS 2Q/05

Delinquency, among U.K. credit card-backed securities, rose significantly in the second quarter to 3.3%. However, the charge-off rate in the second quarter slipped by 20 basis points over the prior quarter to 4.5%. According to FitchRatings’ “Credit Card Moves & Shakers UK,” the rise in delinquency was largely attributed to a sharp rise by Pillar Trust. With the exception of Pillar, all the trusts reported an increase in charge-offs from March to June. FitchRatings said that while the increased charge-off figures appear to give an adverse indication of overall market performance, the movement in delinquencies, excluding the impact of Pillar, can be taken as a positive sign that some of the measures introduced to combat rising charge-offs may be starting to take effect. The MPR index slipped slightly in June to 16.9% from March’s
17.2%. Fitch’s yield index fell by 20 bps to 19.4% at the end of June.

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TCF and 7-Eleven Nail a Free Access ATM Deal

Minnesota-based TCF Financial has signed a deal with 7-Eleven to offer free ATM services for TCF customers at more than 580 7-Eleven stores in Colorado, Illinois, Indiana and the greater Detroit metropolitan area. ATMs will be labeled with TCF Bank signage inside 7-Eleven stores. Vcom, short for “virtual commerce,” is 7-Eleven’s proprietary, self-service machine, which will allow TCF customers to cash payroll, tax refund and government checks, pay certain bills, conduct ATM transactions, money transfers, and purchase money orders and stored-value cards. 7-Eleven, Inc. operates, franchises and licenses stores worldwide, generating total sales of approximately $41 billion. TCF is a national financial holding company with $12.6 billion in assets.

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ECHO Names a Paymentech Exec as President/COO

Electronic Clearing House has named Charles Harris, former President of Paymentech’s Merchant Link, as President and Chief Operating Officer. Prior to joining the company, he served in executive, operational and sales leadership positions at prominent organizations including Paymentech and Electronic Data Systems. Electronic Clearing House, Inc. provides payment processing services to merchants, banks and collection agencies.

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SCA Forms a Contactless Payments Council

New Jersey-based The Smart Card Alliance announced the formation of the new Contactless Payments Council. The Council’s projects will include web briefings, workshops at trade shows and the development of white papers and case studies. The Smart Card Alliance is a not-for-profit, multi-industry association working to stimulate the understanding, adoption, use and widespread application of smart card technology.

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Global Axcess Takes Control of Cash Axcess

Global Axcess has signed an agreement with The BidVest Group to transfer 51% of GAXC’s South African subsidiary, Cash Axcess, to International Payment Systems, a 100% BidVest-owned company. The terms of the transaction includes a cash investment into CAC by BidVest, which will provide working capital for the more rapid expansion of the ATM program throughout the South African marketplace. International Payment Systems is 100% owned by the BidVest group of companies and forms part of the BidServ Security Division. IPS currently offers the full range of De La Rue Cash Systems and Scan Coin cash counting equipment as well as Ingenico POS terminals to financial institutions.

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