PAYWARE ACQUIRER 5.0

Dublin-based Trintech Group has released “PayWare Acquirer 5.0.”
The new version enables any transaction processor to extend their payment
solutions by fully integrating payment processing and acquiring services
with a hosted merchant payment function for businesses that process online,
offline, virtual and physical transactions. “PayWare Acquirer” incorporates
the merchant payment processing function within the payment gateway
application to provide straight through transaction processing, providing
the essential technology infrastructure to take advantage of both B2C and
B2B opportunities in global and electronic commerce.

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HypeSafe Chip

Hypercom and First Data’s First aSuretee subsidiary have partnered to combine aSuretee technologies and Hypercom’s information and transaction terminal technology to securely authenticate individuals authorized to conduct transactions on Hypercom terminals. The solution will feature new biometric technology from Hypercom with aSuretee digital signature capabilities. The aSuretee chip authentication solution will now be offered as a standard feature that can be embedded in Hypercom’s “HyperSafe” “ICE” terminals. The chip is pre-configured with a public/private key pair that is secured by an authorized administrator of the terminal owner. Once the authorized administrator registers the terminal for transaction services, the aSuretee chip generates a unique digital “signature” for all transactions. This signature, which is transmitted from the terminal every time a transaction is initiated, guarantees that the transaction is secure and serves to authenticate the terminal itself. The new solution will feature Hypercom’s “BioPin” biometric which converts a fingerprint into an algorithmic reference.

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iDine 4Q/02

Miami-based dining rewards program provider, iDine Rewards Network, reported 4Q/02 operating revenue of $22.9 million, an increase of 66% over the same period one year ago. Gross dining sales in the fourth quarter amounted to a record $85.5 million, an increase of 69% over the corresponding prior year period. Profits for the fourth quarter were $4.7 million compared to $1.1 million for 4Q/01.The Company currently has 17.2 million credit cards registered through 12.7 million enrolled accounts. Dining incentives are offered through the Company’s dining programs, either branded under the name “iDine” or provided through co-branded and private label partnerships, such as airline frequent flyer programs, club memberships or other affinity organizations. iDine Reward Network currently has more than 9,700 restaurants in the USA participating. For complete details on iDine’s latest performance visit CardData ([www.carddata.com][1]).

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

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TAXI CARDS

Crown Taxi of Toronto said yesterday it has experienced a 10-fold
increase in credit card transactions since installing wireless terminals in
its fleet five months ago. The taxi firm uses a system developed by
Vancouver-based eXcape Business Transactions. eXcape’s “fleetX” POS
terminals accept all payment card types including MasterCard, debit, VISA,
American Express, and Diners Club cards. Crown Taxi, which became the
first taxi company in North America to equip its entire fleet with wireless
point-of-sales terminals, has been experimenting with wireless
point-of-sale devices for two years. eXcape’s wireless POS devices were
developed in conjunction with SchlumbergerSema, Research in Motion, and
Rogers AT&T Wireless.

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Volume 2002

Gross dollar volume among the nation’s top VISA and MasterCard issuers grew 9.9% last year, driven largely by Sears National Bank. Discounting Sears, the top ten issuers, including Metris, grew 7.7% in volume during 2002. Card volume for American Express and Discover increased by 4.2% for each during 2002, according to CardData. Sub-prime specialist Providian posted significantly less volume during 2002. Capital One led the top issuers with a 30%+ increase in volume growth, followed by Chase which picked up a major slice of Providian’s portfolio. American Express posted 2002 volume of $234.1 billion compared to $224.6 billion for 2001. Discover handled $97.2 billion in volume last year, compared to $93.3 billion for 2001.

TOP TEN VISA/MASTERCARD ISSUERS
(based on EOY 2002 outstandings)
ANNUAL GROSS DOLLAR VOLUME

2002 2001 Y/Y CHG
1. Citigroup: $228.3b $218.5b + 4.5%
2. MBNA: $160.0b $142.3b +12.4%
3. Bank One: $151.4b $140.4b + 7.8%
4. Chase: $ 83.9b $ 71.9b +16.7%
5. Cap One: $ 68.0b $ 50.6b +34.4%
6. BofA: $ 49.5b $ 48.9b + 1.2%
7. Providian: $ 18.4b $ 30.5b -40.0%
8. Household: $ 36.5b $ 34.9b + 4.6%
9. Fleet: $ 25.3b $ 22.4b +12.9%
10.Sears Natl: $ 20.7b $ 5.8b +256.8%
TOTAL: $842.0b $766.2b + 9.9%
SOURCE: CardData (www.carddata.com)

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BACS & VALICERT

Valicert announced that its software now meets the standards of the
“NewBACS” payment infrastructure that is being introduced by BACS, the UK’s
automated clearing house. BACS is implementing a wide-ranging technology
renewal program that uses Internet protocols and the latest PKI digital
certificate technologies for the highest level of security. The first step
in “NewBACS” is the development of a new IP
channel, “BACSTEL-IP,” which provides BACS customers with a secure and
direct online access to BACS. The “BACSTEL-IP” service went live in October
and BACS is in the process of migrating banks and customers over to the new
service by the end of 2005. Valicert’s “Validation Authority” PKI digital
certificate validation software allows banks and relying parties, such as
BACS, to verify, in real-time, the identity and authorization of all
parties in a financial transaction.

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Home Capital 4Q/02

Canada’s Home Capital reported this week that its consumer lending unit had 22,265 VISA cardholder accounts with receivables of $16.2 million at EOY 2002. The gross credit card receivable balance is comprised of $10.0 million in accounts secured by cash deposits or mortgage collateral and $6.6 million in unsecured accounts. The recent introduction of the secured “Equity Plus VISA” product has pulled in 208 accounts and receivables of $4.0 million at year-end. In November, Home Trust announced a further expansion of its partnership with First Data through which Home Trust will offer VISA credit card acceptance services to Canadian merchants beginning in the first quarter of this year. For complete details on Home Capital’s latest performance visit CardData ([www.carddata.com][1]).

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

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Certegy & NPC

Certegy and National Processing Company have inked a deal under which NPC will support Certegy check and check-related products, including check warranty and verification, electronic check authorization, ACH services and consumer-not-present solutions, with NPC’s existing and prospective merchant base. NPC supports over 645,000 merchant locations, representing nearly one out of every five VISA(R) and MasterCard(R) transactions processed nationally.

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iBill CEO

iBill’s President and CEO, Garrett Bender, has resigned following the acquisition of the company by Atlanta-based InterCept. Mr. Bender has agreed to be available to iBill for a period of 60 days to assist with the transition. John M. Perry, CEO of InterCept Merchant Services, is currently performing a strategic review of iBill and will be directing its day-to-day activities in the interim.

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EZ Pawn Uses WinXpress

The second-largest chain of pawn shops in the USA, EZ Pawn, has selected Wincor Nixdorf’s “WinXpress” to provide POS and POP supplies to its 280 stores in 11 states. WinXpress is a Web-based supplies ordering business that allows customers to save time and money by providing a single source for POS and POP supplies. Supplies from WinXpress are manufactured to stringent specifications and are designed for high-volume applications. WinXpress guarantees the highest level of quality and consistency, lowering maintenance and repair costs by using manufacturer-specified supplies for POS peripherals. Customers can order online or via phone, fax or email, and most orders are shipped within 24 hours.

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LOBLAW 4Q/02

Loblaw Companies reported that during the fourth quarter it securitized
$60 million of credit card receivables, $244 million year-to-date. The
company offers the “President’s Choice MasterCard” through a partnership
with President’s Choice Financial. President’s Choice Financial services is
a co-venture between Loblaw Companies Limited and Canadian Imperial Bank of
Commerce and was formed in early 1998.
Meanwhile, Loblaw reported that its sales for the fourth quarter increased
7.5% or $392 million to $5.6 billion. Loblaw Companies Limited is Canada’s
largest food distributor.

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Score Sales

More than one out of three Americans have purchased some kind of a credit score within the past six months, according to a recent informal homepage poll by CardWeb.com. Of the more than 1,000 unique participants in the January survey, 37% said they have recently purchased a credit score. Three years ago, the credit industry was concerned that consumers would become credit score savvy and begin to game the system. However, the mind-set rapidly changed after E-Loan began handing out credit scores to consumers in early 2000, followed by a new California law requiring lenders to disclose credit scores. The floodgates have since opened. Equifax, the largest of the three major U.S. credit bureaus, reported that its consumer revenues doubled to $12 million during the last three months of 2002, compared to the last three months of 2001. For all of 2002, Equifax’s racked up $39 million in consumer revenues, an 80% increase over 2001. Equifax and Fair Isaac previously reported that more than one million consumers purchased the “Score Power” service in the first year of the service, which was launched in March 2001. All three major credit bureaus now offer access to scores plus optional services such as credit monitoring.

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