TransFirst Promotes Phillips

Dallas-based TransFirst announced that Andrew Phillips has been named SVP TransFirst Holdings, Inc. and President for TransFirst’s Independent Sales Services Division. Phillips is a 20-year veteran of the payment processing industry. His technology expertise has led him to develop some of the industry’s top processing technologies, including TransFirst’s proprietary product, Transaction Central, a Web-based centralized payment processing system. TransFirst provides transaction processing services and payment enabling technologies and processes $20 billion in annual sales volume for more than 150,000 merchants and 760 financial institutions.

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Providian’s Performance Keeps Rebounding

Providian’s managed charge-off rate declined 42 basis points, while its 30+ day delinquency ratio dropped 10 basis points, during February, compared to the prior month. This is the third consecutive decline in managed charge-offs while delinquency has dropped for four straight months. Over the past twelve months, Providian’s managed charge-off ratio has plummeted 576 basis points and managed delinquency has dropped 186 basis points. On a managed basis, charge-offs for February came in at 8.12% while delinquencies came in at 5.50%. During February, Providian’s managed credit card portfolio seasonally contracted by $121 million to $18,077,788,000. The Company’s managed 30+ day delinquency rate at the end of the fourth quarter was 6.16%, compared to 6.27% at the end of the third quarter. The managed net credit loss ratio for the fourth quarter was 9.98%, compared to 10.39% in the third quarter. For securitized receivables, Providian’s charge-off rate declined to 11.03% from 11.75% in January and 16.08% one year ago. Delinquency, on a securitized basis, dropped to 7.75% in February, from 8.01% in the prior month and 11.07% for February 2004. Providian also announced today that it plans to release its 2004 10-K on or before March 31st in order to complete the restatement and finalization of its financial statements. For complete details on Providian’s latest performance, visit CardData ([www.carddata.com][1]).

PROVIDIAN MONTHLY ABS METRICS
Month Charge-Offs Delinquency
Feb 04 16.08% 11.07%
Mar 04 17.17% 9.56%
Apr 04 15.84% 9.09%
May 04 14.82% 8.68%
Jun 04 14.44% 8.40%
Jul 04 13.17% 8.42%
Aug 04 12.39% 8.37%
Sep 04 12.45% 8.30%
Oct 04 12.11% 8.48%
Nov 04 12.14% 8.27%
Dec 04 11.73% 8.06%
Jan 05 11.75% 8.01%
Feb 05 11.03% 7.75%
Source: CardData(R) (www.carddata.com

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

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ATM Cash Denominations are Clumsy to NYers

A new study shows that some consumers, especially New Yorkers, regard $20 bills dispensed from ATMs as clumsy. Sutton Place Insights found that 50% of respondents indicated that $10 bills were the preferred denomination of ATM dispensed currency, and that another 16% preferred $5 and $1 bills. New Yorkers cited $20 bills as inconvenient for taxi fares and coffee shops. Despite the annoyance of $20 bills, the research found that only 6% of New Yorkers regarded their current bank experience as “poor.”

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ConocoPhillips Merges Private Label Cards

ConocoPhillips has rolled-out its new tri-branded private label personal and commercial gasoline credit cards. One year ago, the Houston-based firm launched a tri-branded and cross-rebate MasterCard. All the cards feature the company’s three gasoline marketing brands including Phillips 66, Conoco and 76. The new cards are issued by Citibank. ConocoPhillips says the new card reduces the number of its card offerings from nine to three. The Company says it will run radio advertisements to further promote the new private label credit cards. The “ConocoPhillips MasterCard,” launched last year, offers a 3% rebate on purchases made at Conoco, 76 or Phillips 66 stations and a 1% rebate on all other purchases. (CF Library 3/20/04)

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Pipeline Data to Acquire Charge.com

Pipeline Data has signed a letter of intent to acquire Florida-based Charge.com, for $7.5 million in cash, $3.5 million in the form of a promissory note, 5 million shares of Pipeline common stock and an additional 1 million shares of Pipeline common stock based on Charge.com fulfilling certain performance requirements. The acquisition will net Pipeline 25,000 accounts. Pipeline Data Inc. provides integrated transaction processing services for all major credit cards.

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SBI SOCIAL VISA

SBI Card, a joint venture of the State Bank of India and GE Money, has launched a credit card to support non-profit organizations. The new “Social Card” will donate up to 20% of the annual and renewal fees of Rs 750 to the non-profits, in addition to a sourcing fee of Rs 250. The “Social Card” also offers two points for every Rs 125 spent via the card. SBI Card will donate half of the extra points to the non-profits and cardholders have the option to donate the rest of the extra points. The new “Social Card” will be launched in major cities over the next three months. The card will support Cancer Patients Aid Association, National Association for the Blind, SOS Children’s Villages of India and World Wildlife Fund India. SBI Card currently has 1.6 million cardholders and offers a wide range of card products.

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Merchant Success Bundle for ISOs is Introduced

California-based Netopia has introduced its Merchant Success bundle that will allow independent sales organizations to market and sell broadband merchant IP networks to retailers. The bundle is based on Netopia’s broadband Wi-Fi gateway. Netopia’s Wi-Fi CERTIFIED(TM) gateways feature 3-D Reach(TM) technology for enhanced wireless range, security and performance.

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Keycorp Limited Launches the OneSMART PayPass TaiwanMoney Card

Sydney-based Keycorp Limited’s newly developed “MULTOS” contactless
smart card product had been selected for a new multifunction card
project for banking
and transit in Taiwan. The “TaiwanMoney Card” will be used for a
transportation system serving millions of residents in seven cities in
southern Taiwan and will be issued by a number of banks. The
Transportation Bureau of Kaohsiung City Government selected a consortium
involving MasterCard International and other partners to provide the
world’s first MasterCard “OneSMART PayPass chip combi-card for the
project.

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Jump by Cricket to Use Q Comm POS Terminals

Q Comm International announced a contract with Leap Wireless International to install”q xpress 200″ POS terminals in over 1,000 locations at Cricket-owned stores and third-party authorized dealers. Q Comm International is a prepaid transaction processor that electronically distributes prepaid products from service providers to the point of sale. Cricket Communications, Inc. is the operating subsidiary of Leap and is a provider of unlimited local and long distance wireless services.

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EasyNolo Places a Large NURIT Order from Lipman Italia

EasyNolo, a member of Gruppo Banca Sella, has placed an order for Lipman’s “NURIT 8320” landline POS terminals. Lipman also expects to
begin supplying EasyNolo with wireless and Ethernet-based products from its “NURIT” family later this year. With an installed base of
approximately 80,000 terminals throughout Italy, EasyNolo terminals
currently account for approximately 10% of the total installations in
the Italian market, and EasyNolo is working to expand its presence further. According to Associazione Bancaria Italiana, there are
approximately 800,000 terminals deployed throughout the country, only a
fraction of which are EMV compliant.

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