AmEx & RezPort

American Express is offering triple “Membership Rewards” points for all airline tickets purchased through RezPort during the first 90 days of paid enrollment. Unlike some newer online travel services, there are no fees for fully automated transactions purchased through RezPort. To encourage small business owners to try out the site, American Express is also introducing an online self-enrollment feature and a 60-day free trial period.

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ERG EXITS ECARD

Telstra and ANZ will be the sole shareholders of ECard Pty Ltd following
the exit of The ERG Group, which owned 39% of the smart card company. Under
terms of the deal announced last week, ECard, under a selective buy-back
agreement will purchase ERG’s shares for $5 million in cash. ERG says the
ECard business is not developing fast enough and it would rather direct
more funds to its core business. However, ERG and ECard will maintain a
strong relationship in supplying each other with, and working together on,
multi-application smart card systems that have strong commercial drivers
and rewards for both parties. ECard has retained its licence rights to the
Proton technology owned by ERG. Formed in June 2000, ECard provides smart
card multi-application and management services in addition to
infrastructure and support of multi-application card issuers. ECard is
currently providing services to customers such as ANZ Bank, TAFE NSW, La
Trobe University and Smart Visit Solutions.

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Intelli-Check 3Q

Intelli-Check reported a third quarter net loss of $1,223,894, compared with a net loss of $968,119 one year ago. Intelli-Check is a developer and marketer of an advanced state-of-the-art document verification system for authenticating the validity of driver licenses and ID cards used as proof of identity. Intelli-Check’s multi-purpose ID-CHECK(R) units are fully capable of increasing security and as a tool that can be used to deter terrorism at military installations, high-profile buildings, airports and other sites and are also an effective tool against “identity theft,” which often is supported by fake IDs and is the fastest growing crime in the U.S.

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MIFARE OYSTER

Philips Electronics latest “MIFARE” technology is being used in the
contactless “Oyster” smart card program which provides a contactless
payment system for London’s public transportation system including
Transport for London and London Underground. The TranSys consortium, led by
EDS and Cubic, has begun the first phase of the rollout by issuing “Oyster”
cards to 80,000 staff. The “Oyster” smart card is being introduced in
phases to customers from spring next year, starting with annual and monthly
season ticket holders. An estimated seven million journeys are completed
every day on London’s public transport system.

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TU & FICO

TransUnion and Fair, Isaac have teamed to provide consumers online access to TransUnion credit reports accompanied by FICO credit risk score. The first product being offered is the “TransUnion Credit Profile Plus FICO Score.” product for $12.95. Also available is the “TransUnion Credit Profile Plus FICO Score Subscription.” Priced at $38.85, this product allows consumers to purchase three TransUnion Credit Profile Plus FICO Score Reports and receive a fourth report free of charge. The four reports may be viewed at any time within one year of purchase. In May 2000, TransUnion became the first credit information company to endorse access to credit scores for consumers. Fair, Isaac has provided consumer access to FICO scores since March 2001.

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Target 3Q/02

Target reported Friday it has issued more than eight million “smart VISA” cards to-date and continues to deliver an annualized net portfolio yield of 11%. Third quarter credit card profits increased to $138 million compared to $125 million for 3Q/01. At the end of the quarter ending November 2, Target had gross credit card receivables of $5.242 billion, compared with $2.925 billion at the end of third quarter 2001. Target’s VISA portfolio grew $600 million during the third quarter to $3.171 billion. Target said it expects to add about $400 million in VISA receivables during the fourth quarter. Target has now become the 17th largest bank credit card issuer in the USA, according to CardData. Target’s private label card, the “Guest Card” continued to contract as the company migrates more customers to its VISA program. At the end of the third quarter, Target had $779 million in “Guest Card” receivables compared to $1.224 billion for 3Q/01. Target also noted it will issue e-coupons during the fourth quarter from its relationships with Proctor-Gamble, Unilever, Pepsi and others. Delinquencies (60+ days) were 5.9% for 3Q/02 compared to 6.7% one year ago. For complete details on Target’s 3Q/02 performance visit CardData ([www.carddata.com][1]).

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

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Paymetric Award

Houston-based Paymetric has been recognized as one of Houston’s “Top 50 Fastest Growing Technology Companies,” ranking # 37 on the list. Paymetric’s XiPay(TM) Server delivers superior value and unmatched flexibility to companies using SAP, Microsoft Business Solutions, as well as web store, point-of-sale and wireless platforms. XiPay offers real-time payment card and electronic check processing, fraud detection, browser-based graphical reporting tools, and support for a full range of payment origination points and certified interfaces.

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Dividend Miles VISA

Bank of America’s “US Airways Dividend Miles VISA” will begin awarding bonus miles on purchases at select retailers next year. Toronto-based Advantex Marketing International has inked a deal with BofA to to integrate the “Advantex Benefit” into all “US Airways Dividend Miles VISA” credit cards by Spring 2003. The “Advantex Benefit” program will enable “Dividend Miles” credit card holders to automatically earn bonus “Dividend Miles” on their purchases at a wide range of participating merchants including retail, golf, hospitality, and more. Advantex clients include Bank of America, US Airways, United Mileage Plus, Air Canada Aeroplan, The Canadian Imperial Bank of Commerce, The New York Times, and other major North American corporations, as well as an extensive list of retailers, restaurants, golf courses, and resorts.

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