NWC CARD DEAL

The North West Company, the oldest retailer in North America is
implementing Credit Management Services’ credit card application solution
to support its growing private label credit card business.
The North West Company operates 176 food and general merchandise stores,
with the majority located throughout northern Canada and Alaska. The CMS
application is fully scaleable operating in UNIX and OS/390
supporting department to enterprise level systems. CMS is headquartered in
San Francisco.

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HK SMART CARD DEAL

Keycorp Limited has signed a subcontracting agreement with PCCW Business
eSolutions for the provision of 1.2 million smart cards for Hong Kong ‘s
planned “Smart Identity Card System.” The current deal is expected to
generate more than A$5 million for Keycorp. Business eSolutions, a business
unit of PCCW, will utilise Keycorp’s MULTOS operating system to keep
personal data stored by the Immigration Department of the Government of the
HKSAR private and secure when “SMARTICS” replaces the laminated plastic
photo ID card system in use since 1987. The PCCW-led consortium was awarded
the project in February by the Hong Kong government after a competitive
bidding process. Keycorp will join other key technology partners in the
deal, including ACI Worldwide, Cogent Systems, SecureNet Asia, Mondex
International and Trüb AG.

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Cap One Mascot Team

Last week, Capital One announced the 12 members of the its first-ever “All-America Mascot Team” to be featured in an upcoming television advertising campaign asking fans to vote for their favorite mascot to be named the “National Mascot of the Year” during the Capital One Bowl on Jan. 1st. Each of the 12 mascots will receive $5,000 for use in scholarship and funding of the school’s mascot program.

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Bank of America 3Q/02

Bank of America reported this morning that card income was up 11%, driven by increased purchase volume. BofA ended the third quarter with $28.1 billion in outstandings, a 10% gain over 3Q/01. Pre-tax card income was $244 million for 3Q/02, compared to $239 million in the previous quarter, and $216 million one year ago. BofA’s charge-off rate declined from the second quarter, from 5.59% to 5.13%, but remains significantly higher than last year’s 4.81%. Delinquency improved across the board. For the third quarter BofA’s delinquency (30+ days) improved to 5.29%, compared to 5.54% in the previous quarter, and 5.63% one year ago. For complete details on Bank of America’s 3Q/02 performance visit CardData ([www.carddata.com][1]).

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

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TRINTECH BUY-BACK

Trintech Group announced it remains committed to implementing its
previously announced program to buy-back up to $5 million of its shares and
will do so following approval of the Irish Takeover Panel. The company says
it is in the process of securing approval from the Panel to engage in a
buy-back of shares on the open market without triggering the requirement
for the largest shareholders to make a mandatory bid for the Company. One
such rule is that if the percentage ownership of a group of investors
acting in concert owning more than 30% of the share capital increases, the
connected investors may be required to make a mandatory bid for the
Company. John and Cyril McGuire, being brothers, are considered technically
to be acting in concert under the Takeover Panel rules and their relative
percentage ownership would increase as the Company bought back its own shares.

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eConnect Ousts CEO

CA-based eConnect, developer of the “eCashPad” terminal and a company dogged by investor lawsuits and SEC problems, announced Thursday that Chairman/CEO Thomas Hughes has resigned and has no further connection to the company and has been replaced by Christopher Jensen as Acting CEO. eConnect Inc. is focused on delivering next-generation e-payment solutions. The Company develops proprietary hardware, software and transaction-processing services and believes that hardware-originated transactions are the future of Internet commerce and will benefit both the customer and the merchant.

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HK Business Cards

Hong King’s Dah Sing Bank has launched a “MasterCard Corporate Card” and a “MasterCard Corporate Purchasing Card.” As part of the product launch, Dah Sing has signed an agreement with the corporate card unit of GE Consumer Finance under which multinational customers of “GE Corporate Card,” including 10 GE businesses with operations in Hong Kong, will be the first organizations to use the new Dah Sing business card products. Dah Sing also announced its alliance with GE Corporate Card. whereby Dah Sing Bank will issue Hong Kong Dollar-denominated corporate cards to GE’s subsidiaries and clients in the territory. This arrangement will allow GE to serve its clients with operations in Hong Kong without the complexities of running a credit card center here and for multinational clients it will minimize payment of high exchange rates.

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