TAYSEER AHLI VISA/MC

National Commercial Bank launched a new standard and gold credit card that is compliant with the Islamic “Shariah Law.” The new “Tayseer Ahli VISA/MasterCard” allows cardholders to complete money withdrawal up to the maximum limit and payment of the value of purchases through monthly installments at a minimum payment starting from 5% of the total fee, while still maintaining the advantages of international credit cards. The annual fee for the gold card is SR 400 and the client can acquire an additional card for any family members over 18 years of age for a nominal fee of SR 200. The annual fee for the silver card is SR 200 and the client can acquire an additional card for any family member over 18 years of age for a nominal fee of SR 100. He indicated that payment forms can be full payment or payment of the minimum requirement of the due amount and claim access to Tayseer Ahli, which employs the acquired amount to pay off the credit card debt. Customers can also avail themselves of additional cards, like Internet cards and insurance services for accidents while traveling for up to SR 56000.

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23% of Americans Use Cards for Summer Vacations

Cambridge Consumer Credit Index finds that 23% of Americans will be charging their vacations to credit cards this summer, up by 4 percentage points from a year ago. The Cambridge Consumer Credit Index is a forward-looking economic indicator gauging consumer spending and debt. It is released on the fifth business day of every month to coincide with the Federal Reserve Board’s G19 release of consumer credit outstanding data.

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Brookwood Facilitates InfiCorp Acquisition

InfiCorp has purchased the credit card portfolio of Royal Oakland Community CU with the assistance of NH-based Brookwood Capital. As of March 31, 2005 Royal Oakland reported about 4,000 credit card accounts and $7 million in receivables among its 20,000 members. The credit union has approximately $124 million in total assets. Brookwood Capital is an advisor to credit unions related to the credit card industry, including brokerage, consulting and advisory services to credit card issuers nationwide.

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FDC Partners with JCB and ICBC

First Data has joined forces with JCB and has launched a bank card conversion project for ICBC. FDC will support JCB in its efforts to enable its clients to issue JCB cards via its “VisionPLUS” card processing system. Using a full suite of “VisionPLUS” modules, ICBC will
integrate the data source of its newly acquired bank in Hong Kong. First
Data will provide ICBC the conversion to this enhanced platform and a
quality solution with ongoing technical support and service. First Data, with a fully operational data center in Shanghai providing
card and merchant processing solutions, serves four of China’s five
largest commercial banks, including Industrial and Commercial Bank of
China, Bank of China (Hong Kong), a subsidiary of Bank of China, Agricultural Bank of China and Bank of Communications, plus
other financial institutions in China and North Asia.

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OPC Signs Datatel to a Processing Deal

Official Payments has entered into a partnership agreement to provide payment processing services as an integrated part of the Datatel Colleague ERP system. OPC will provide Datatel clients with e-commerce capabilities that include credit card payments, pin-less debit card payments, electronic check payments and the ability to charge convenience fees. These payments can be made via the Web or face-to-face using Datatel Colleague. Tier provides transaction processing and packaged software and systems integration services for public sector clients. Datatel provides integrated enterprise information management solutions for higher education.

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TNB BT Promotion Produces a 2.39% Response

Dallas-based TNB Card Services reports that balance transfer offers helped 42 credit unions gain more than $5 million in outstandings. The special three-month promotion was launched shortly after the holiday buying season by TNB for its clients. The average transfer per member was $3,450. TNB says this was the most successful promotion ever in terms of response and average transfer. TNB offers a balance transfer promotion two times each year for CU clients. The total balances transferred in the 2005 promotion amounted to $5.01 million by 1,451 cardholders. The 2.39% response rate was based on about 61,000 qualified accounts that were the targets of the offer. Depending on the rate each credit union selected, transfers were offered from 0% to 7.9% APR – an offer good through the end of April 2005.

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Cubic’s San Diego Fare System is Dedicated

Cubic’s San Diego automated fare collection system is formally dedicated. Customers will buy tickets to ride the San Diego Trolley system through ticket vending machines. The new machines will accept cash and dispense proof-of-payment tickets and include easy-to-follow menu screens to walk customers through ticket purchase, with instructions in English or Spanish, in addition to audio and Braille navigation. Cubic Transportation Systems, Inc. is a full-service systems integrator of automated fare collection systems for public transportation systems worldwide.

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BlackBerry Executive Featured in AmEx Ad Campaign

Mike Lazaridis, a force behind the “BlackBerry” has joined the American Express global advertising “My life. My card.” campaign. The campaign communicates the role the American Express Card plays in
the lives of the extraordinary people showcased in the line-up such as
Robert De Niro and Ellen DeGeneres. The Lazaridis spot opens with a person writing on a blackboard. As the spot unfolds, people are writing on blackboards. The blackboards are visual links to the way people capture and exchange ideas. The underlying message is that ideas can be conceived and captured anywhere. Throughout the spot, Lazaridis tells us about his most famous idea – “BlackBerry” – and about how “BlackBerry’s” success allowed him to create the Perimeter Institute. Lazaridis is President and Co-CEO of Research In Motion. He also launched the Perimeter Institute for Theoretical Physics with a $100 million donation, which he describes as an investment in the future

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AmEx Adds Indian Airlines Credit Cards

Indian Airlines and American Express have expanded their relationship with the launch of a new credit card. The partners currently issue a standard and a gold AmEx charge card, according to last week’s issue of CardFlash International. The new credit card offers 15% savings on all Indian Airlines economy class fares, 10% savings on all business class fares, 5% savings on “Easy Fares” and an additional 5% saving on all class fares when tickets are purchased through American Express. New account holders receive an annual fee waiver for the first year by applying before August 31st. The card offers an interest rate of 1.9% per month or 22.8% per annum.

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Navy FCU Up 15%; Natl City Drops 3.5% in Q2

The nation’s largest credit union bank credit card issuer, Navy FCU, surged more than 15% in second quarter outstandings. Meanwhile, OH-based National City reported that its second quarter credit card outstandings were down 3.5% year-on-year and down a tad sequentially. VA-based Navy FCU reported that 2Q/05 outstandings rose to nearly $1.9 billion in the second quarter. As of June 30th, Navy FCU had 1,038,601 accounts compared to 1,009,233 in the prior quarter, and 926,062 accounts one-year ago. The number of active accounts also increased sequentially and year-over-year to 551,065. The number of cardholders topped 1.15 million for the quarter. National City reported $2.34 billion in second quarter managed outstandings, compared to $2.43 billion one-year ago, and $2.35 billion in 1Q/05. In the current quarter ended June 30th, National City had 1,737,966 gross accounts and 1,113,934 active accounts, according to CardData. ([www.carddata.com][1]). For complete details on National City’s and Navy FCU’s 2Q/05 performance, visit CardData ([www.carddata.com][2]).

NATL CITY CARD LOANS
1Q/03: $2,271 million
2Q/03: $2,417 million
3Q/03: $2,179 million
4Q/03: $2,558 million
1Q/04: $2,443 million
2Q/04: $2,426 million
3Q/04: $2,432 million
4Q/04: $2,518 million
1Q/05: $2,352 million
2Q/05: $2,341 million
Source: CardData (www.carddata.com)

NAVY FCU SNAPSHOT
2Q/05
Outstandings: $1,863,083,165
Volume: $1,160,368,513
Accounts: 1,038,601
Actives: 551,065
Cards: 1,151,931
Source: CardData (www.carddata.com)

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

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