ACH Direct Signs a Southern Calif. Toll Deal

ACH Direct has signed a contract with the Transportation Corridor Agencies, which operate Orange County’s 67-mile public toll road system, to provide toll transaction processing services to their organizations. ACH’s responsibilities will include processing all the checks received by Toll Roads customers. ACH Direct, Inc. is a chief provider of electronic payments processing and verification and authentication services, serving a broad range of companies worldwide. Over 290,000 trips are taken on The Toll Roads every weekday, saving drivers about 21 minutes for every trip.

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Tidel and Laurus Come to New Terms

Houston-based Tidel Technologies has reached senior debt agreements with Laurus Master Fund, receiving some interest waivers and 10-K extensions. The agreement calls for Tidel to make a $400,000 payment to Laurus on or before September 17, 2004 toward a total of $499,238 in past due accrued interest and penalties. The remaining balance of $99,238 will not be due until the maturity date. The unpaid principal balance of the senior debt was $6,474,238 after modifications were made. Tidel is currently in discussion with Laurus about providing additional working capital financing for certain new customer contracts. Tidel may or may not be successful in completing additional financing with Laurus. Tidel Technologies, Inc. manufactures ATMs and cash security equipment designed for specialty retail marketers.

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Ryan to Handle GeoTrust’s Business Development

Stephen Ryan, former SVP at VISA and First Data, has been hired by MA-based GeoTrust as VP of business development. Mr. Ryan has almost 20 years of management experience. At GeoTrust, he will be responsible for driving revenue and market share through strategic alliances with distribution, original equipment manufacturers (OEM), and technology partners. Ryan was a former vice president at Arcot Systems and former vice president at NationsBank. He has a B.S. degree in Management Information Systems from Old Dominion University in Norfolk, Virginia. GeoTrust, Inc. is a leader in Identity and Trust Services. It is the second largest digital certificate provider in the world with over 70,000 companies in over 140 countries using its technology for transaction security.

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TNB Card Services Adds Two Executives

Dallas-based TNB Card Services has hired Clifton Miller, formerly with Bank Plus Credit Services in Oregon, as SVP and client services manager, and Richard Deeter, formerly with The Members Group and eFunds, as VP and eastern region account manager. Mr. Miller will be responsible for maintaining the quality and reputation of the client services operations at TNB. Mr. Deeter will lead business development in the eastern portion of the U.S. for TNB. TNB Card Services provide full-service credit and debit card processing, serving over 400 credit unions and managing over 1.5 million cards. TNB helps credit unions enhance member loyalty through credit union-branded card products.

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Credit Agricole to Deploy Opteva ATMs

Credit Agricole du Morbihan has placed an order for the first Diebold “Opteva” ATMs to be installed in France. The “Opteva 560” units will be installed in the Credit Agricole’s new self-serve bank branch concept. Powered by Diebold’s open-standard, cross-vendor software
platform, and supported by Diebold “Premier Services,” “Opteva” offers
customers a new generation of self-service solutions that take into
account ATM technology, software solutions, services and support
necessary for financial institutions to thrive in today’s marketplace.

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Hypercom Makes a Presentation on Thursday

Hypercom’s executives will present at the Morgan Keegan & Company 2004 Equity Capital Markets Conference this week. The presentation will be available through a listen-only web cast at http://www.wsw.com/webcast/mk8/hyc/. Hypercom Corporation is a leading provider of electronic payment solutions. The company has achieved 26 years of technology excellence, innovation, and leadership.

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Shinsei Bank Makes a Major Aplus Investment

Tokyo-based Shinsei Bank has signed an agreement to acquire a majority interest in Osaka-based APLUS Co., Ltd for US$592 million. Aplus provides a number of consumer financing products including co-branded credit cards and offers a single application system in installment credits and loan cards. Shinsei will buy 35 billion yen of new shares issued by Aplus and acquire 30 billion yen of preferred stock from UFJ Holdings. UFJ will also waive 94 billion yen of debt owed by Aplus.

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BUY & FLY MC

Morgan Stanley has added another card to its portfolio, now offering travel points instead of its traditional cashback program. The new “Morgan Stanley buy and fly! MasterCard” earns one point for every GBP10 of purchases with bonus points earned for purchases made at participating U.K. retail merchant partners. Points can be redeemed for travel on 17 airlines, as well Thomson Holidays, Irish Ferries, P&O Ferries, DFDS Seaways, and The Orient Express. For example, a flight to Rome requires 1,200 points, while a flight to New York requires 2,500 points, and a trip to Sydney costs 12,000 points. Points earned expire after three years. Morgan Stanley is offering a six-month 0% interest rate on purchases and balance transfers, followed by a go-to rate of 16.9%. There is no annual fee. Morgan Stanley introduced its first credit card in the U.K. in 1999. Like its U.S. cousin, the “Discover Card,” Morgan Stanley offers a cashback feature on its “Platinum MasterCard.” The issuer also offers a “Gold MasterCard” featuring its best interest rate.

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ABN AMRO Modernizes/Consolidates Systems

ABN AMRO has selected Amdocs as part of its efforts to modernize and consolidate its transactional systems for business and consumer retail banking customers in The Netherlands. The Amdocs solution will integrate information from disparate systems onto a single, unified platform, allowing ABN AMRO to launch new bundled services and cross
product price plans and discounts, reduce operating costs and increase
efficiency, while improving the overall customer experience.

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Oberthur Card Systems Hires a Disney Exec

Oberthur Card Systems has hired Julie Pantiskas, formerly VP of Operations and VP of Customer Care at The Walt Disney Company, as VP of customer delivery. Ms. Pantiskas will head Oberthur’s North and Central American Customer Delivery department, driving the company’s growth in the financial services, security, and wireless sectors. In addition to her position at The Walt Disney Company, Pantiskas worked for Deloitte & Touche, served as president and COO of Nut Tree Associates, and was a Group Sales Manager for Macy’s California. Oberthur Card Systems is one of the world’s leading providers of card-based solutions, software, and applications.

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Average Credit Card Transactions Up 2.5%

While the average purchase transaction with a signature debit card continues to hover at $39-$40, the average purchase transaction with a VISA/MasterCard credit card has increased more than 2.5% this year. As of June 30th, average purchase transactions on credit cards, for the first six months of 2004, hit an all-time high of $84.95 compared to $82.86 one-year ago. The increase has been driven by a recovering economy, business card purchases, and deeper penetration into big-ticket transactions. Over the past five years, the first six months of 2002 posted the most significant decline with average credit card purchases slipping below $82 and debit card purchases dropping under the $39 level. During the first half of 2004, VISA and MasterCard reported $495.1 billion in credit card purchase volume and 5.8 billion purchase transactions. VISA and MasterCard posted 5.5 billion signature debit card purchase transactions producing $217.9 billion in purchase volume.

Average Purchase Transactions
(First Six Months of Each Year)
YEAR CREDIT DEBIT
2000: $82.84 $39.48
2001: $82.12 $39.40
2002: $81.78 $38.88
2003: $82.86 $39.29
2004: $84.95 $39.62
Source: CardData (www.carddata.com)

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Metavante Renews the ACI BASE24 Agreement

Metavante Corporation has renewed its commitment to ACI’s “BASE24” transaction processing software. The company will continue to use ACI’s flagship payments software and enjoy reduced transaction costs as well as scalability to meet more transaction volumes. ACI’s BASE24 software delivers a routing, switching, and authorization solution for transaction processing conducted online. Metavante Corporation delivers banking and payment technologies to financial services firms and businesses all over the world. ACI software is used over 40 billion times a year to process transactions that take place every second of every day. Over 500 customers in 75 countries are using ACI software.

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