Ultima Card to Use EmpaSys Reload Platform

Orlando-based American Card Services is now using the “EmpaSys” Internet platform to load value on its “Ultima Card.” Check cashers and merchants can enroll in the EmpaSys™ bill payment program when they visit www.payallbillshere.com. Participants can load value onto Ultima Card(TM) cards and enable customers to pay their bills electronically. ACS, Holdings, Inc. markets the Ultima Card(TM) Twin Access Debit Card Pack(R), which provides two reloadable stored-value debit cards along with the ability to receive two Ultima Card(TM) Debit MasterCard(R) cards at no extra cost with a valid ID.

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BofA Card Income Up 9%; Receivables Top $55B

Bank of America added $3.4 billion in credit card loans during the third quarter ending with $55.4 billion, a 6.5% sequential gain. The issuer opened 1.6 million new credit card accounts, and card income grew 9% over the prior quarter. BofA says the strong account growth was driven by targeted direct mail marketing campaigns, strong co-brand programs, effective cross selling of cards in banking centers, and improved point of sale technology. Third quarter charge-offs were 5.48%, compared to 5.88% in the prior quarter, and 5.33% one year ago. Managed 30+ day delinquency was 4.11%, compared to 3.86% in the second quarter, and 3.84% for 3Q/03. Managed 90+ day delinquency was 1.88%, compared to 1.76% in the second quarter, and 1.76% for 3Q/03. BofA also reported that active users of online banking increased by 600,000 to 11.8 million while bill payment volume increased to more than $23 billion in 3Q/04. For complete details on Bank of America’s 3Q/04 performance visit CardData ([www.carddata.com][1]).

BOFA CARD LOAN HISTORICAL
1Q/03 $29.1 billion
2Q/03: $30.8 billion
3Q/03: $33.6 billion
4Q/03: $36.6 billion
1Q/04: $37.3 billion
2Q/04: $52.0 billion
3Q/04: $55.4 billion
Source: CardData (www.carddata.com)

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

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Travelocity Hotel Program in Europe

Travelocity has expanded its specially negotiated hotel rates to Europe. The program is being introduced in the United Kingdom first and will extend to other European countries. Travelocity displays the rates and availability of more than 60,000 hotels around the world, and more than 13,000 of these participate in the company’s net rate hotel program. The Company uses the “Sabre GDS” with technology that enables two-way communication between it and a hotel’s internal reservations system. Travelocity pays its net rate hotel suppliers by credit card, putting cash into the hands of hoteliers faster than its competitors.

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CyberSource Transactions Rise 52% Over 3Q/03

Electronic payment specialist, CyberSource, reported third quarter revenue of $9.2 million, an increase of 33% over 3Q/03. The Company processed a record 109.4 million transactions during the quarter, a 52% increase over the 72.2 million transactions processed in the same period last year. The company added 1,607 customers in the third quarter, compared to 648 in the second quarter. CyberSource signed 17 customers for its “Global Payment Suite” since the program launch, 12 of which are already processing transactions. CyberSource solutions enable electronic payment processing for Web, call center/IVR, and POS environments and manage fraud risk associated with card-not-present transactions. For complete details on CyberSource’s third quarter results visit CardData ([www.carddata.com][1]).

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

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Maximum Dynamics Launches EFT Processing

Maximum Dynamics has launched a new service offering EFT bank transaction processing, pre-paid voucher services (cellular, telephone, utilities, etc.) and loyalty program applications all on one terminal running through its own back-end system. Its mobile commerce business unit began in October 2003 when Maximum entered into the point of sale business by securing exclusive distribution rights for a mobile point of sale terminal called “MPOS2002.” Since then, Maximum has worked to put in place all of the components required to offer an end-to-end offering in South Africa. Maximum is initially targeting corporate retailers where establishing a footprint quickly will lead to volume levels that enable Maximum to set extremely favorable pricing.

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MasterCard’s Dunbar on the EDS Board

EDS announced that Roy Dunbar, MasterCard International’s president of Global Technology and Operations, has been elected to its board of directors, effective October 19th. Dunbar is responsible for MasterCard’s global payments platform and operations. Dunbar enjoyed a 14-year career with Indianapolis-based Eli Lilly and Company prior to this appointment. He has been recognized by his accomplishments by being named “Chief Information Officer of the Year” in 2003 by InformationWeek and one of 2002’s “20 Young Executives You Need to Know” by Business 2.0. Dunbar holds a pharmacy degree and a master’s of business administration degree from Manchester University in the United Kingdom. EDS is a provider of broad portfolio of business and technology solutions. It ranks 87th on the Fortune 500 with more than $20 billion in annual revenue.

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MedSmart Combines Eligibility & Payments

IL-based Abanco Healthcare Solutions has introduced “MedSmart” which integrates real-time eligibility verification and patient payment transactions. Physicians will be able to access over 300 payers within a secure HIPAA-compliant environment with the implementation of MedSmart. Additional benefits include reduced denied claims, an easier patient registration process, and live 24/7/365 support, to name a few. MedSmart is available through Abanco Healthcare Solutions, Inc., a leading provider of payment processing solutions that develops and markets services to the automotive, healthcare, hospitality, insurance, retail, and transportation industries.

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Metavante Acquiring VECTORsgi for $100MM

Metavante is acquiring TX-based VECTORsgi, a provider of banking transaction applications, including electronic check-image processing and image exchange, item processing, and dispute resolution and e-commerce solutions for financial institutions and corporations, for $100 million. The company will continue to operate under the VECTORsgi name and will become a wholly owned subsidiary of Metavante Corporation. VECTORsgi technology is used by each of the top 10 and 41 of the top 50 financial institutions in the U.S. Earlier this year, Metavante acquired Advanced Financial Solutions, another company that specializes in providing electronic check-imaging technology. Paul T. Danola, senior executive vice president and group executive of Metavante Financial Services Group, says that offering solutions from VECTORsgi and Advanced Financial Solutions provides the industry a single provider in Metavante that supports the industry’s transition from paper check exchange to the electronic realm. Metavante Corporation serves financial services firms and businesses around the world by delivering banking and payment technologies.

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GECF Creates the Specialty Retail Group

GE Consumer Finance-Americas has created the “Specialty Retail Group” to provide private label and co-branded credit programs to apparel and accessory, home goods, and other growing specialty retailers with portfolios of up to $200 million. The new business unit is part of GE Consumer Finance’s Retail Consumer Finance division, a provider of retail credit card services to retailers in the U.S. and Canada. The new division will have over 200 dedicated employees with Paula Clayton serving as vice president and general manager. The team will provide marketing research, planning and execution support, integrated co-brand and loyalty programs, and customer service that is brand-specific. The Specialty Retail Group is expected to be a key contributor to private label credit program growth for GE Consumer Finance. GE Consumer Finance is a leading provider of credit services to consumers, retailers, and auto dealers in 41 countries around the world and has $122 billion in assets.

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Clear2Pay Upgrades Corporate2Bank Payments Solution

Clear2Pay has rolled-out the enhanced “Corporate2Bank Payments” solution. Key features of “C2B Payments” include complete automation of payment processing; supports any payment format (MTXXX, EDIFACT, ISO20022, etc.); ability to warehouse payments for later processing; secure web screen to configure electronic notifications of payment status; wide range of standard internal and external communications adapters for rapid implementation; and, processing of remittance advices. “C2B Payments” provides banks with a solution to directly
interact with their corporates’ ERP systems helping them to optimize
their financial supply chain. Clear2Pay also recently announced the launch of the “PayPark Bank Payment Hub,” which is a core payments processing engine which decouples the business processes from the underlying functional components.

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Wells Fargo Card Loans Up 15%; Volume Up 21%

Wells Fargo Card Services and Wells Fargo Financial Bank reported third quarter outstandings of $8,250,228,818, a 15.4% increase over the same period one-year ago. Third quarter card volume rose 39% for Wells Fargo Financial Bank, and about 20% for Wells Fargo Card Services. Combined, Wells Fargo Card Services and Wells Fargo Financial Bank reported 3Q/04 volume of $4,829,539,359, a 21.4% jump over the year ago quarter, according to CardData (www.carddata.com). At the end of the third quarter, Wells Fargo Financial Bank had 545,708 active accounts, a 10.5% increase over the prior year. Wells Fargo Card Services had 3,479,886 active accounts, a 7.1% increase over the prior year. For complete details on Wells Fargo Card Services and Wells Fargo Financial Bank third quarter results visit CardData ([www.carddata.com][1]).

Issuer 3Q/04 3Q/03 CHANGE
WF Card Services (IA) $6.562b $5.857b +12.0%
WF Financial Bank (SD) $1.687b $1.292b +30.6%
Total $8.249b $7.149b +15.4%
Source: CardData (www.carddata.com)

WELLS FARGO CARD LOAN HISTORICAL
3Q/03: $7.2 billion
4Q/03: $7.5 billion
1Q/04: $7.5 billion
2Q/04: $7.9 billion
3Q/04: $8.3 billion
Source: CardData (www.carddata.com)

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

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Ernex Launches a Revised Strategic Alliance Program

Ernex announced the launch of its revised “Strategic Alliance Program.” With the acquisition of Ernex by Moneris Solutions Corporation in November, the previous “Marketing Partner Program” underwent some
dramatic changes. Gone is the focus on processing partners, and in its
place is a renewed emphasis on expansion into the US market and
integration with leading POS and peripheral technology partners. The
four new alliance categories are: Integration Alliances, Peripheral
Technology Alliances, Complementary Service Alliances and Marketing
Agency Alliances.

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