GZS Offers Dynamic Currency Conversion

GZS Gesellschaft fur Zahlungssysteme has enhanced its processing portfolio with dynamic currency conversion and an ATM operator model. The dynamic currency conversion function is aimed particularly at
acquirers whose contractual partners are active in any market sector and
frequented regularly by non euro-zone cardholders. The new function
allows such merchants to offer their customers payment conversion and
processing in their local currencies with immediate effect. GZS will
initially support conversion into US dollars, pounds sterling, Swiss
francs, Danish krones, Swedish kronas and Japanese yen. The original
transaction amount will continue to be settled with the contractual
partner in the agreed settlement currency. A newly developed “ATM operator model” also allows acquirers to offer ATM operators an alternative business model which differs from the prevailing institutional remuneration model.

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Cubic Forms a Parking Systems Subsidiary

San Diego-based Cubic Corporation has created a new business unit called Cubic Parking Systems. The new subsidiary follows the acquisition of the assets of Vancouver-based Lexis Systems and Quebec-based Traf-Park. With the combined installed customer base of Lexis and Traf-Park, Cubic Parking Systems has more than 2,200 pieces of equipment installed for almost 200 customers in the U.S., Canada and Mexico. The North American parking equipment and system control market is more than $200 million per year and is poised for growth as municipalities move away from single-space, coin-operated on-street meters to multi-bay meters that take contactless smart cards as a form of payment.

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ID Theft Complaints Top the FTC List Again

The FTC reports that identity theft accounted for 39% of the 635,173 consumer fraud complaints filed with the agency last year. This is the fifth year in a row it has topped the FTC report. Of the 635,173 complaints received last year, 246,570 were identity theft reports and 388,603 were fraud complaints. Internet-related complaints accounted for 53% of all reported fraud complaints. Among the top categories of consumer fraud complaints for 2004 were “Advance-Fee Loans and Credit Protection” and “Foreign Money Offers.”

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Carlson Marketing Offers Free CardAssist Membership

Carlson Marketing Group has joined the Canadian Government’s “Fraud Prevention Forum” and is offering six months of free membership to the first 10,000 Canadians who enroll in the “CardAssist” protective services during the month of February. From the moment a member reports their lost or stolen cards, “CardAssist” assumes the risk of all fraudulent charges on ALL of these cards. With just one call, CardAssist
will immediately notify card issuers of the stolen or lost cards and send written notifications to the “CardAssist” member. In addition, CardAssist will request replacement cards, provide emergency funds or airline tickets for travelers stranded away from home, and it will provide fraud protection for lost or stolen cellular phones. Thirty countries from around the world, including Canada and the United States, are recognizing February as “Fraud Awareness Month.”

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Jan CMI Shows New Credit Applications Up 70 bps

The National Association of Credit Management “Credit Manager’s Index” for January 2005 continued to show economic growth despite a decline of 230 bps from December. While there was a decline in both the manufacturing and service sectors, it was the manufacturing sector that accounted for the overall CMI drop. The National Association of Credit Management (NACM), headquartered in Columbia, Maryland supports more than 25,000 business credit and financial professionals worldwide with premier industry services, tools and information.

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Fraud Concerns 60% of Canadians

A new survey by VISA Canada has found that while 86% of Canadians say they keep track of their monthly credit card statements, only 61% shred their personal documents before disposing of them.
Despite the fact that 52% of respondents say that they feel vulnerable to fraud, there are still many Canadians who have little or no awareness about certain types of fraud. The January survey of 1,351 Canadians conducted by Maritz Research shows that 60% of respondents are either very or somewhat concerned about becoming a victim of credit card fraud.

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Infineon Names an Asian Pacific President

Germany’s Infineon Technologies announced that Tony Ng Fook San will take over as President and Managing Director of Infineon Technologies Asia Pacific. He will succeed Loh Kin Wah who
has since been promoted to be a Member of the Management Board and Head
of the Communication business group. From 2002-2004, he headed the Sales & Marketing team and served as Vice President, Sales of Infineon Technologies Asia Pacific between 1998 and 2002.

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Cubic Acquires Parking Assets of Lexis Systems

Cubic Corporation has acquired the assets of Vancouver-based
Lexis Systems, including the acquisition of intellectual property, technology, the complete product line and software suite, inventory and the operations. The assets from Lexis Systems, together with the recently acquired Traf-Park, comprise a new business unit for Cubic Transportation Systems, called Cubic Parking Systems. With the combined installed customer base of Lexis and Traf-Park, Cubic Parking Systems has a substantial share of the parking market, with more than 2,200 pieces of equipment installed for almost 200 customers in the
United States, Canada and Mexico.

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DM2 Licenses SCTN’s Loyalty/STV Card Software

Montreal-based DM2 Technology has licensed Smart Chip
Technologies’ loyalty, stored value, and gift card software solution.
DM2 is currently piloting a 50 merchant coalition loyalty program using
magnetic stripe cards for loyalty, payments, and other applications, and
will immediately upgrade the participating merchants to SCTN software,
followed shortly by 200 additional merchant locations. DM2 anticipates
that at least 1,250 merchants will be using their “e-llegiance”-powered
program within the first year, and plans to migrate to smart cards
within two years.

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NBD Deploys Level Four Products

National Bank of Dubai has formed a partnership with Level Four Software to enable faster delivery of new ATM content and customer services to the bank’s multi-vendor network. National Bank of Dubai are presently switching to the “Postilion” transaction processing platform from Mosaic Software. The core elements of Level Four’s “ATM Channel
Development Suite” will be used to interface to the new “Postilion” switch system as a virtual ATM, enabling NBD to automate the regression testing of ATM transactions. National Bank of Dubai will deploy Level Four’s “ATM Developer” for the desktop development of upgraded ATM content and graphics. The software will enable the bank to design, configure and test new ATM content from any desktop PC within its network.

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