DirectCash ATM 2004 Revenues Rise 46%

Calgary-based DirectCash Income Fund reports that annual revenues and gross profits increased 46% and 40%, respectively, compared to 2003. The growth is attributable to organic growth in the ATM, debit terminal and prepaid cash card businesses, as well as acquisitions, particularly the addition of 447 ATM’s and 127 debit terminals in June 2003. Growth in 2004 was primarily organic in nature, with organic growth being responsible for 552 new ATM contracts and acquisitions accounting for an additional 30 contracts. The prepaid cash card business grew rapidly in 2004, with a 312% increase in the number of prepaid cash cards loaded. DirectCash raised $56 million in a December IPO. For complete detail on DirectCash’s latest results, visit CardData (www.carddata.com).

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Intelli-Check’s 2004 Sales Rise 22%

NY-based Intelli-Check reported that revenues declined last year from $1.2 million to $1.1 million. However, the Company reported a 22% increase in year-over-year sales to $1.4 million. Net loss increased to $6.9 million from $6.5 million in 2003. The net loss in 2004 included $2.2 million in non-cash expenses and approximately $1.3 million in patent-litigation expenses. Intelli-Check offers authentication technology. Its flagship product is “ID-CHECK.” For complete details on the Intelli-Check’s latest performance, visit CardData ([www.carddata.com][1]).

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

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LGE Adopts MasterCard MMCP – Converts Cards

LG Electronics has adopted the “MasterCard Multinational
Corporate Program” and will covert all of its corporate
cards worldwide to MasterCards. JP Morgan and Scotia Bank will issue the new MasterCard corporate cards for LGE’s U.S. subsidiaries and its
Chile office, respectively. Prior to implementing the MasterCard program, LGE had no system in place to track expenses on a country-by-country basis. The Company has 74 office worldwide.
Other companies in “MasterCard Multinational Corporate Program” include
GE, Dell, Colgate Palmolive, Chevron Texaco, GlaxoSmithKline, and France Telecom.

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Contactless Cards Poised to Explode

A study released from Frost & Sullivan indicates that different standards and apprehension towards technology integration in the contactless smart cards market is hindering market growth. Convenience and speed of transaction will not be enough to expand the scope and adoption of contactless smart cards. New analysis reveals that 121.7 million smart card units were shipped in 2004 with the expectation that the numbers will reach 847.3 million in 2009. Frost & Sullivan is a global growth consulting company that provides comprehensive industry coverage and ongoing analysis of markets, technologies, econometrics, and demographics.

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Desjardins to Migrate to Smart Cards by 2008

Desjardins Group has announced it will migrate to smart cards between 2006 and 2008. Interac recently announced it will have the necessary infrastructure to process transactions using smart card technology by the end of 2006. Desjardins expects the first
chip transactions to be made starting in 2008. Desjardins has been an active participant in a national committee created to define common Canadian chip card specifications. The company also tested the Mondex “ecash card” in Sherbrooke in 2000, which provided useful information on chip technology. Last year, more than 500 million direct payment and ATM withdrawal transactions were carried out by Desjardins caisse members in Quebec.

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NCR’s CEO Resigns to Become the HP CEO

Dayton-based NCR Corporation announced that Mark Hurd, president and CEO has resigned, effective immediately, to accept a position with a large global technology company. James (Jim) M. Ringler has taken the reins as interim CEO. Ringler, retired vice chairman of Illinois Tool Works, Inc., joined the NCR board in 2003, The board is actively engaged in a search for a new CEO.

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ConCardis Renews the GZS Processing Agreement

ConCardis has prematurely extended its acquiring processing agreement with GZS Gesellschaft fur Zahlungssysteme mbH until September 2007. It attributed the early extension to the successful launch of GZS’s new acquiring processing platform “eMAXS” in late 2003. GZS is also planning to offer its customers acquiring processing for “Maestro” transactions using “eMAXS” by the end of the year. This enhancement will allow PIN-based debit and credit-card transactions to be captured via the GICC authorization protocol and be settled and paid out to merchants via “eMAXS.”

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ViVOtech Receives ETA’s Technology Award

Santa Clara based ViVOtech has been awarded the first annual “Technology Innovation Award” by the Electronic Transactions Association in recognition of the company’s success and leadership in the payment industry. ViVOtech’s technology has made it possible for existing POS systems to easily adopt contactless payments with minimum change. ViVOtech has more than 50,000 of its contactless payment readers deployed around the world.

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CardWell Marketing Teams with eCredit

Banbury, Oxfordshire-based Cardwell Marketing has partnered with eCredit to promote eCredit’s services in the European market. Cardwell is a data based marketing company that specializes in helping businesses find new clients by the use of marketing and credit data. It has partnerships with Experian, Equifax, Graydon and Dun & Bradstreet. Cardwell is also able to aggregate data to ensure the
correct credit or marketing solution is provided. Massachusetts-based e Credit is a provider of online software for credit and collections professionals. Its on-demand software supports companies such as
ChevronTexaco, Cisco, Samsung Electronics, Cargill, NEC Financial, Graybar, CDW, Sun Microsystems, and Ryder System.

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