Visanet Extends EDS Master Contract for Five Years

EDS announced a five-year master contract renewal with Visanet that now includes customer care contact center services for merchants affiliated with VISA. IDC estimates the worldwide market for outsourced Customer Care services to be $38 billion in 2002, growing at a compound annual growth rate of 12.3 percent through 2007. EDS’ global presence and broad portfolio of business process outsourcing and other solutions helps clients worldwide leverage its scalable and agile infrastructure to streamline operations, improve customer service and manage costs related to these non-core business processes.

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Largest Pennsylvania Credit Union Scores with RPPS

Pennsylvania State Employees Credit Union says it is converting five to eight payees a week for MasterCard’s “Remote Payment & Presentment Service”. Using the MasterCard Remote Payment & Presentment Service, PSECU offers electronic bill payment for many of its high volume payees. A member of MasterCard RPPS, PSECU can electronically originate member payment transactions to over 2,400 billers. As the credit union continues to convert five to eight payees a week, savings are expected to surpass development costs within seven months of rollout. Additionally, on the average, member payments will be credited to billers’ accounts five days faster than paper payments.

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First Triple-DES Credit Union ATM Network

Anheuser-Busch Employees’ Credit Union has become the first Diebold customer to achieve end-to-end, “Triple-DES” compliance in an ATM network using Mosaic Software and Thales e-Security solutions. ABECU’s new Triple-DES capability enhances data security for its members and brings the credit union into compliance with upcoming requirements that all ATMs tied into the Visa or MasterCard networks be Triple-DES compliant by April, 2005. The Triple Data Encryption Standard, or Triple-DES, is a higher level of encryption used to better protect electronically transmitted data like personal identification numbers. ABECU’s primary goal in their recent network upgrade was to take advantage of Postilion’s advanced transaction processing system that is based on the Microsoft(R) Windows(R) operating system. By implementing Mosaic’s Postilion and Thales’ HSMs, they also achieved Triple-DES compliance while greatly expanding their ATM network functionality.

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Chex Services to Deploy VISA POS Check Service

Equitex and its Chex Services subsidiary says it will introduce Wells Fargo’s “VISA POS Check Service” at each of its check cashing locations beginning in October. Chex will utilize the system provided by Wells Fargo & Co., which announced introduction of this service on July 14, 2003. Visa’s POS Check service will enhance the check cashing experience for Chex’s customers by expediting service, and help Chex reduce check-processing costs. The Visa POS Check service allows any establishment that accepts checks to authorize them instantly with real-time verification of the check writer’s account information. The checks are then instantly converted into an electronic transaction and sent through VisaNet.

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eFunds Names Risk Management Solutions Head

AZ-based eFunds has hired Robert Evans, formerly of Regulus Group, as managing director of Risk Management Solutions. Evans will head up the development and expansion of eFunds’ risk management products and strategies. Evans joins eFunds from Regulus Group, a privately-held remittance processing and content management company serving the financial services markets, where he served as director of product management, Development and Marketing. Evans’ previous experience includes 18 years at First Union Corporation, now known as Wachovia, where his positions included senior vice president, manager of International Market and Product Management; senior vice president, manager of Wholesale Product Management and Development; vice president, director of QuestPoint Product Management and Development; and vice president, manager of Wholesale Information Services Product Management and Development.

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AmEx Brings U.S. Open Experience to Mid-Town

American Express has teamed with the owners of Rockefeller Center and the USTA re-create the Flushing Meadows “US Open” in the middle of Manhattan. The area between 50th and 51st street will be transformed into center court complete with stadium seating, a Jumbotron screen, and concessions. The event will run between Saturday, August 30th and Sunday, September 7th. AmEx cardholders will have access to a number of benefits during the tournament including a reserved-seating section, “Pose with the Pros” Photo Booth: “Green Screen” photo opportunity for tennis fans to obtain a souvenir photo, and access to a silent auction of Andre Agassi memorabilia.

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Capital One Bank Licenses CTL’s Card Management Solution

Capital One Bank (Europe) has licensed Card Tech Limited’s comprehensive “PRIME Web” card management solution, including the rule-based “FRAUDGUARD” system for detecting and managing potential fraud. The CTL solution went live at Capital One’s UK center in July. CTL is a UK-based software provider with offices in London, Nicosia, Moscow and Kuala Lumpur. CTL has been providing innovative payment systems to the bankcard industry since 1989. More than 150 clients license its systems in more than 60 countries.

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ADS/Stage Stores Card Deal to Close Next Month

Houston-based Stage Stores said yesterday that its deal to sell its credit card to Alliance Data Systems will close sometime next month. In May, Stage agreed to sell its portfolio of approximately 2.2 million existing private label credit card accounts to ADS. Stage, which operates 362 stores in 13 states under the Stage, Bealls and Palais Royal names, says total card balances at the end of first quarter were $241 million. Under terms of the deal, ADS, will also own the new accounts and balances generated during the ten-year term of the alliance. Approximately 220 associates currently employed at Stage Stores’ Credit Support Center in Jacksonville, Texas, will be employed by Alliance Data. Citigroup Global Markets is the financial advisor to Stage Stores on the transaction. (CF Library 5/22/03)

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Check and Remittance Processing Solutions Introduced

Jara Diversified Services has integrated Parascript’s “CheckPlus” and “FieldScript” software into its check and remittance-processing products, “DCP” and “DCPS.” By integrating Parascript’s Total Recognition(R) technology Jara Diversified is able to automatically capture machine print, handprint and cursive information off checks and remittance stubs with greater speed and accuracy. Additionally, Jara Diversified is able to reduce its end users’ remittance processing costs by reducing the need for manual data entry, check sorting and encoding. Draft Conversion Plus (DCP) is Jara Diversified’s low-cost, high-quality solution that captures check and remittance stub information and converts the information into electronic form for clearing through the banking system.

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AmeriCard Picks ACI for VbV

AmeriCard Services has selected ACI Worldwide to provide “Verified by Visa” authentication services. Verified by Visa allows a consumer to add a personal password to their Visa card and use that password for authentication when making purchases at participating online stores. The service guarantees merchant payment and allows merchants to eliminate the cost of online fraud. ACI’s secure authentication service is designed to promote consumer confidence in shopping on the Internet through increased security of their confidential card and password information.

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LML Payment Systems Losses 7-Eleven Check Contract

Vancouver-based LML Payment Systems confirmed that 7-Eleven will not be renewing a contract for check authorization and
recovery services. The contract is scheduled to terminate November 30th. The Company says that in fiscal 2003, it recorded revenue of approximately $2,000,000 directly attributable to this contract. LML says that at the request of 7-Eleven, it will explore the possibility of continuing to provide services up to possibly June, 2004. LML Payment Systems is a financial payment processor providing check processing solutions including electronic check authorization, electronic check conversion and primary and secondary check collection including electronic check re-presentment to national, regional and local retailers.

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Smart Card Alliance to Focus on Mobility

The Smart Card Alliance has scheduled a conference in mid-October at the Sawgrass Marriott Resort in Florida that will focus on smart card mobility. The three-day agenda is rich with users who will advise attendees on the experiences of recent smart card implementations in banking, quick service restaurants and retailing, mass transit and corporate enterprises. Attendees will gain insights into new technologies and new approaches to payments and identity verification such as proximity payments, mobile commerce, loyalty applications and biometrics for point-of-sale.

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