MOSIAK & WESTJET

BMO Bank of Montreal’s “Mosaik MasterCard” is now offering very low redemption levels for travel on WestJet to major U.S. cities.
“Mosaik MasterCard” cardholders who have the “Gold Reward Option” can redeem WestJet flights in Canada and to the U.S for no more than 1,600 “AIR MILES” reward miles. This represents a credit card spend of $3,000 to $15,000 less than that required on competitive travel reward credit card programs for similar destinations. BMO introduced the “Mosaik MasterCard WestJet 1/$15 AIR MILES Gold Reward Option” in May 2004. WestJet is Canada’s leading low-fare airline offering scheduled service throughout its 33-city North American network.

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Affluent Middle Income Market to Emerge

MasterCard released a report indicating a dynamic transformation of Malaysia’s consumer market over the next decade that will result in the emergence of an affluent middle income market by 2013. The study
concludes that by 2013, Malaysia’s real GDP per capita will reach RM21,500 and income per household will be at RM47,400. The highest and upper/middle income groups will be the most significant consumers in Malaysia, commanding a total spending power of RM257 billion. The MasterCard Insights report also highlights that by 2013, there will
be four lifecycle stages that will stand out prominently – the young
singles, young married with children under 10 years, older married with
children below 20 and the empty nesters.

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BP PetroChina Installs NCR RealPOS Terminals

BP PetroChina is installing NCR “RealPOS 30” terminals in its “Express” convenience stores across Guangdong Province. BP PetroChina currently operates 382 retail service stations in Guangdong, 200 of which include “Express” convenience stores. The NCR “RealPOS 30” offers a compact design and the terminal can be configured as a diskless thin-client or full-function disk-based POS system. It provides interfaces for serial- and USB-based retail peripherals and includes a powered printer port for improved cable management. The new terminal was introduced in China last year.

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POSTBANK & AMEX

Postbank is gearing-up to launch the first American Express cards in Bulgaria. The new cards will be available as a standard credit card and a “Gold” credit card. The standard card offers a minimum credit line of BGN 1000 and the annual fee is BGN 50. The “Gold” card offers a minimum credit line of BGN 5000 and the annual fee is BGN
120. The cards will be available mid-April. Postbank says it will also acquire new merchants in Bulgaria to accept the American Express Card at their establishments.

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Experian-Scorex Unveil the Collect System

Experian-Scorex has introduced a new collections and debt recovery solution in the United Kingdom. The new “Collect” allows financial service organizations to adopt a more strategic and analytical approach to their customer service, collections and debt recovery. It provides a flexible and automated infrastructure supporting the complete collection process, from pre-delinquency to late collections and write-offs. “Collect” is part of the “Strategy Management” suite of solutions in the US and used by more than 600 clients in over 60 countries.

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Kiwibank Inks an 8-Year Deal with Certegy

Kiwibank has signed an eight-year agreement for credit card processing services from Certegy. The bank says the functionality, flexibility and reliability of Certegy’s “BASE2000” platform should enable it to increase efficiency, introduce new products more quickly and better serve customers. Kiwibank is a wholly-owned subsidiary
of New Zealand Post Limited, headquartered in Wellington, New Zealand.
Kiwibank operates the largest bank branch network in New Zealand.
Certegy is the largest credit card processor in the New Zealand market.

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AMEX GOLDEN LOTUS

Vietcombank and Viet Nam Airlines have partnered to launch an American
Express card for frequent fliers. It is the first credit card issued
by Vietcombank that does not require a mortgage relationship. The
“Golden Lotus” card will offer a full package of insurance benefits.
Cardholders will also be eligible to apply for “Golden Lotus Plus”
benefits from Viet Nam Airlines. The airline says it has already
enrolled 50,000 members in the “Plus” program. Vietcombank and American
Express began their relationship in 2003. Vietcombank also issues VISA,
MasterCard, HCB, and Diners Club cards.

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Navy FCU Tops 1 Million Accounts in Q1

The nation’s largest credit union bank credit card issuer passed the one million account milestone during the first quarter. VA-based Navy FCU also reported that 1Q/05 outstandings rose more than 12% as volume climbed nearly 14% year-on-year. As of March 31st, Navy FCU had 1,009,233 accounts compared to 983,801 in the prior quarter, and 877,684 accounts one-year ago. First quarter outstandings were $1.75 billion, seasonally down from the fourth quarter but up substantially from 1Q/04. The number of active accounts also increased sequentially and year-over-year to 551,060. The number of cardholders topped 1.1 million for the quarter. The credit union issues “Classic,” “Gold,” and “Platinum” VISA and MasterCards, as well as the “nRewards” VISA and MasterCard, “TravelValue” VISA, “Student” VISA card, and a “Secured” VISA and MasterCard. For complete details on Navy FCU’s first quarter performance, visit CardData ([www.carddata.com][1]).

NAVY FCU SNAPSHOT
1Q/05
Outstandings: $1,749,051,831
Volume: $1,005,642,099
Accounts: 1,009,233
Actives: 551,060
Cards: 1,146,801
Source: CardData (www.carddata.com)

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

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PAYMENTS 2005 Sets an Attendance Record

NACHA’s “PAYMENTS 2005” conference opened yesterday in San Antonio to a crowd of more than 2,500 payments executives, a 47% increase compared to five years ago. A Presidential impersonator entertained the crowd with his call to Congress to pass “The No Check Left Behind Act.” The phony President also said Washington knows a few things about corporate payments. “Wouldn’t it be great to speed up payments from lobbyists – I mean companies? Wouldn’t it be great for lobbyists to be able to see the names of Congressmen they paid appear directly on their account statements?” Meanwhile, NACHA awarded its “2005 George Mitchell Payments System Excellence Award” to Citigroup. National City received the “2005 Kevin O’Brien ACH Quality Award.” CheckFree also received the “2005 Kevin O’Brien ACH Quality Award” for achieving a 0.01% administrative return rate on ARC payments it processes.

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TCF Launches a Rewards Biz Debit VISA

Minneapolis-based TCF Bank has introduced a business debit card that offers free air travel and merchandise rewards. The new “TCF MILES PLUS Business Check Card” awards one point for every dollar of qualifying purchases. Points can be redeemed for free airline tickets on major airlines without blackout dates or without restrictions. The card carries no annual fee. A similar program was offered last August to TCF checking account customers who maintain high monthly balances. The free “TCF MILES PLUS VISA” consumer credit card automatically deducts card purchases 15 days after the statement is generated. (CF Library 8/13/05)

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Fiserv BANKLINK Adopts EPN STP 820

The Electronic Payments Network has announced that Fiserv BANKLINK has adopted EPN STP 820 for its iLINK product, a suite of Web-based cash management products for financial institutions and their corporate customers to facilitate business-to-business payments. Fiserv, Inc. provides information management systems and services to more than 16,000 clients and reported $3.4 billion in revenue. EPN processed more than 3.4 billion payments in 2004.

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