Fifth Third to Deploy PRISM Fraud Detection

Cincinnati-based Fifth Third Bancorp has signed a long-term deal to license Retail Decisions'”PRISM” fraud detection software to detect and prevent ATM, credit and debit card fraud associated with its own issued cards and also provide the technology as a service to its 1,350 partnering financial institutions. Retail Decisions is an international operator of fuel cards and provider of card fraud prevention and payment processing. Fifth Third Bank Processing Solutions is one of the nation’s largest providers of credit, debit, EBT, ACH and check acceptance services.

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HSBC’s Domestic Credit Card Profits Up 37.5%

HSBC Finance (formerly known as Household International), reported that its VISA and MasterCard portfolio grew 10% during the second quarter to $22.2 billion. HSBC says its MasterCard and VISA receivables reflect domestic organic growth especially in its HSBC branded prime, “Union Privilege,” sub-prime portfolios and growth in the U.K. over the year ago period. Profits for its Credit Card Services unit were up 37.5% to $165 million. HSBC says the increase in net income during the quarter was due to higher fee and other income, partially offset by higher provision for credit losses, lower net interest income and higher operating expenses. For complete details on HSBC’s second quarter performance, visit CardData ([www.carddata.com][1]).

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

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QSR Krystal Expands Payment Card Acceptance

TN-based QSR specialist Krystal announced that all 243 of its company-owned restaurants now accept payment by credit and debit cards. With its new cashless payment option, all it takes is the quick swipe of any major credit or debit card at the counter or drive-thru window, and for most transactions, customers are not required to sign the receipt. The Krystal Company is the oldest quick service restaurant chain in the South and the second oldest in the United States.

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Capital One Finalizes Deal to Switch to TS2

Georgia-based TSYS has finalized a five year definitive agreement with Capital One to provide processing services for its North American portfolio of consumer and small business credit card accounts. Capital One has more than $46 billion in managed loans in its US Card division. TSYS plans to complete the conversion of Capital One’s portfolio from its in-house processing system to the TS2(R) payments engine in phases, beginning in late 2006 and ending in early 2007. Capital One’s subsidiaries collectively had 48.9 million accounts and $83.0 billion in managed loans outstanding as of June 30, 2005. TSYS provides outsourced payment services.

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First Data Buys Austria’s Top Card Processor

First Data has signed an agreement to acquire Austrian Payment Systems Services, Austria’s top card processor. Under the terms of the agreement, APSS’ headquarters will remain in Austria and the company will continue to manage its relationships with Austrian banks locally. The acquisition complements First Data’s expansion last year into Greece and this year into Slovakia, Lithuania, Latvia, Serbia, Montenegro, Russia, Hungary and the Nordic region. APSS provides the country’s banking industry with debit and credit card issuing and acquiring processing, as well as card network operations and terminals and ATM processing. The deal is expected to close in the fourth quarter.

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RBS to Launch the FXmicropay Service

The Royal Bank of Scotland has signed an agreement with BitPass to enable automated foreign exchange management online. BitPass will use the “RBS FXmicropay” service to aggregate, execute and settle transactions in more than 30 currencies, allowing international online content brands and portals that leverage the BitPass platform to conduct cross-border content sales at a high volume, while RBS manages the FX risk. “FXmicropay” has a capacity for over 3,000 transactions per second. The “BitPass Network” has more than 2,500 merchants in
over 30 countries. Buyers from more than 100 countries can use BitPass to purchase and access their favorite content.

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Troy Aikman to Demo PayPass at McDonalds

NFL legend Troy Aikman will demonstrate MasterCard’s “PayPass” cards to purchase meals for members of the Madison Square Boys and Girls Club at a McDonald’s restaurant in midtown Manhattan. MasterCard will make a matching donation to the Madison Square Boys and Girls Club for each lunch purchased during the event. MasterCard PayPass uses radio frequency technology to transmit payment details. MasterCard International manages a family of well-known, widely accepted payment cards brands including MasterCard(R), Maestro(R) and Cirrus(R) and serves financial institutions, consumers and businesses in over 210 countries and territories.

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Intelli-Check Lands a Private Placement

NY-based Intelli-Check has landed a private placement of about $5 million this week. The company will sell up to 1,240,000 shares of its common stock at $4.00 per share. As part of the offering, investors will also receive warrants to purchase up to an additional 496,000 shares of the company’s common stock at $5.40 per share. JMP Securities LLC acted as the sole placement agent of the offering. Intelli-Check, Inc. provides technology that assures the authenticity of driver licenses, state issued non-driver and military identification cards used as proof of identity.

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August RBC CASH Index Remains Pessimistic

The “RBC CASH Index” for August dropped again to a new low following a drop in July reflecting increasing pessimism about the economy and investing, however, the survey also found that American consumers feel good about their jobs. The RBC Jobs Index stands at 114.6, up significantly from last month’s 109. A majority (52%) now feel it is unlikely that they, someone in their family or someone they know personally will lose a job as a result of economic conditions. The CASH Index is a monthly national survey of consumer attitudes on the current and future state of local economies, personal financial situations, savings, and confidence to make large investments. The Royal Bank of Canada is Canada’s largest bank as measured by assets and is a diversified financial services companies.

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