CBE and Systech Target Petroleum Retailers

CBE, a distributor of “Verifone Ruby POS” systems, will now market and support Systech’s “IPG/7000” dial-to-IP converters to retail petroleum merchants nationwide. Merchants have the flexibility to convert from dial-up to broadband IP without new expenditures for POS hardware or software and payment transactions can be connected to the Systech converters and routed to retail petroleum processors including Lynk, Paymentech, Buypass and NBS. CBE supplies point-of-sale systems and digital surveillance to the C-Store industry. Systech Corporation designs and manufactures internet payment gateways for electronic transaction markets.

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PPI Offers an Integrated Payment Solution

Payment Processing Incorporated announced the availability of the industry’s first comprehensive integrated payment solution for both “Microsoft Business Solutions – Great Plains” and “Solomon” accounting suites. Both solutions feature the ability to enter payment processing information directly in the accounting suite or perform web-based payment transactions through direct integration with the back-office suites and offer the flexibility to process either type of transaction in real-time or batch. Payment Processing, Inc. provides integrated payment processing solutions to more than 10,000 merchants.

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MasterCard Online US Debit Rises 5-Fold

MasterCard reported that the number of “Maestro” debit cards increased 8.3% to 567 million worldwide at the end of the first quarter. Online debit purchase transactions in the USA grew 459% for the first quarter, compared to the first quarter of last year. Nearly 383,000 ATMs in the MasterCard ATM Network and 1.5 million merchant locations in the USA accepted MasterCard online debit (and Maestro) at the end of 1Q/05. As of March 31st, consumers can make online debit point of sale purchases with their MasterCard or Maestro branded cards at nearly 8.8 million merchant locations globally. There were more than one million MasterCard/Cirrus ATMs around the world at the end of the first quarter of 2005.

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Oberthur and Metaca Target Canadian EMV

Oberthur Card Systems and Metaca are teaming to offer EMV smart card solutions and personalization services to Canadian banks. In addition to delivering its personalization systems and software to Metaca, Oberthur will provide its microprocessor chips (in micro module format) for Metaca to embed into plastic cards. Metaca will produce the cards and run the personalization programs for their banking customers using Oberthur technology. With a market of approximately 55 million cards, it is anticipated that issuers will start deploying smart cards in 2006 with critical mass expected by 2010, after which the liability in case of fraud will shift from issuers to acquirers.

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U.S. Bank Issues an Anglers Affinity Card

U.S. Bank has teamed with FLW Outdoors to offer 55 million anglers the new “FLW Outdoors VISA Platinum Card”.Those who apply by July 31, 2005 will receive a $15 credit on their first purchase by August 31, 2005. U.S. Bank has sponsored FLW Outdoors for seven years and is the banking partner of the largest and most competitive tournament fishing organization in the United States. FLW Outdoors administers the Wal-Mart FLW Tour and seven other national tournament circuits offering a combined $30 million in awards through 214 events in 2005. U.S. Bank is a subsidiary of U.S. Bancorp with $198 billion in assets, U.S. Bancorp is the 6th largest financial holding company in the US.

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Navy Federal FCU Renews the TSYS Contract

TSYS has renewed its agreement with Navy Federal Credit Union to support more than 1 million credit card accounts for an additional five years. The Navy FCU is the world’s largest credit union with more than 2.5 million members and $24.4 billion in assets and has been a client of TSYS since 2000. TSYS provides outsourced payment services for financial institutions and retail companies worldwide.

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Dress Barn and Maurices Renew ADS Contract

Alliance Data Systems has signed a multi-year renewal agreement to continue providing private label credit card services for The Dress Barn and Maurices. Both have been clients of Alliance Data Systems since 1993 and 2001 respectively. Under terms of the agreements, Alliance Data will continue providing a full range of services, including private label credit card issuance, marketing services and customer service functions. Alliance Data Systems is a leading provider of transaction services, credit services and marketing services and manages approximately 95 million consumer relationships. The Dress Barn, Inc. is a national specialty apparel retailer offering quality career and casual fashion apparel through the dressbarn and maurices brands. The Company operates 787 dressbarn and 477 maurices stores.

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Gemplus Launches GemInstant PayPass

Gemplus International has unveiled its solution for contactless payment. “GemInstant PayPass” achieved all of the MasterCard PayPass approval requirements on June 30th, bringing to the banks a contactless solution compliant with the MasterCard “PayPass” specifications and testing requirements. The cards will be produced at Gemplus’ recently enhanced card manufacturing facility in Pennsylvania, starting in July. 7-Eleven agreed to accept “MasterCard PayPass” in its 5,300 U.S. locations by early 2006. In April, MasterCard and MD-based Ritz Camera Centers expanded MasterCard “PayPass” acceptance to each of the more than 1,100 Ritz Camera Centers and 114 Boater’s World Marine Centers. PA-based c-store operator, Sheetz, deployed “PayPass” system-wide in March of this year. In August 2004, McDonald’s inked a deal to accept MasterCard “PayPass.”

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Payment Rates Head Higher and Approach 19%

The monthly payment rate for credit card-backed securities hit its second highest level during the May performance period reaching nearly 19%. Among the three largest trusts, Citibank reported a MPR of 19.1%, while the MBNA trust posted 18.1% and the First USA trust came in at 16.2%. The Citi trusts include $74.8 billion in outstandings while the MBNA trusts have $66.7 billion and the FUSA trusts hold $44.0 billion. According to Standard and Poor’s “Credit Card Quality Index,” the spike in payment rate during May of 18.9% wiped out most of April’s decline of 120 bps. Over the past six months the MPR has topped 18% in four of the months. May 2005 also represents the 15th consecutive month in which the payment rate has exceeded 17%. S&P says the recent increases to minimum payments by several issuers may explain the recent increase. The May payment rate is 170 bps higher than the comparable period in 2004, 150 bps higher than the 2004 average of 17.4% and 250 bps higher than the 2003 average of 16.4%.

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RBS Lynk Lands a Prepaid Card Veteran

Atlanta-based RBS Lynk has re-hired Jerry Uffner, formerly with TenderCard and InComm, as Director of Sales for the Prepaid Products Division. In this role, Uffner will be responsible for developing sales strategies to market innovative prepaid stored-value card products to banks, community financial institutions, businesses, retailers and consumers. RBS Lynk is a single-source provider of electronic payment processing services and a member of The Royal Bank of Scotland Group.

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