Incurrent Hits 3 Million

NJ-based Incurrent, a provider of Internet customer self-service solutions for the credit card industry, reported this week that enrolled users of CardSite hit three million cardholders this month. The CardSite platform is among the most widely adopted electronic banking systems in use today. Incurrent has developed and operates customer self-service and bill presentment sites for MBNA, Fleet, Sears, Metris, Certegy, First USA and Target.

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MarketMile Acquires Aentropy

MarketMile, an e-procurement service provider, has acquired Aentropy, a provider of spend analysis solutions based in Menlo Park, CA. The acquisition will take effect immediately, with MarketMile purchasing all the shares of Aentropy in exchange for an undisclosed amount of MarketMile stock and cash. The integrated offering is currently in pilot testing and will be available to new clients in the 3rd Quarter of this year.

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Accesspoint Directors

Los Angeles-based Accesspoint has named Gene Valentine, CEO of Financial West Investment Group, and Joseph Byers, a retired institutional banker, to fill two vacancies on its Board of Directors. Management anticipates that the addition of Messrs. Valentine and Byers to the Accesspoint Board of Directors will be a great asset for the Company and will strengthen its Board of Directors as the Company strategically positions itself for continued growth and expansion.

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Comerica EPN

Comerica has begun moving its ACH volume to the Electronic Payments Network private sector electronic payments system. EPN has now converted transaction volume from the Federal Reserve to its private sector ACH system from ten banks: BB&T, Bank of America, Bank One, Citrus Bank, Carolina First Bank, Comerica, Mellon, PNC, Wachovia and Wells Fargo. Comerica originates more than three million transactions a month.

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DaimlerChrysler VISA

German-based DaimlerChrysler Bank has changed its legal form to a stock corporation, received a full banking license, and has begun offering new products such as deposit-banking services, as well as a new DaimlerChrysler VISA, both with the special rewards program “RoadMiles.” The DaimlerChrysler VISA is the first German credit card with an EMV chip and carries an annual fee of EUR 29, according to The RAM Report ([www.ramreport.com][1]). Those who pay their bills with the DaimlerChrysler Card automatically collect “RoadMiles,” which can be redeemed for attractive products and services. Gas purchases even get triple points. The bank will initially target its 4 million customers in Germany for the new products. The new banking products will not be offered at car dealerships, but instead via the Internet and the DaimlerChrysler Bank customer service center by telephone, fax, e-mail, or normal letter. The license for deposit-banking services is also valid for market entry into other European countries (Europapass).

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

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EDC & Webify

Edgar, Dunn & Company and Webify Solutions have partnered to combine EDC’s deep expertise in corporate and retail banking, cards and payments with Webify’s integrated Web services solution comprising software infrastructure, applications, business libraries and methodology. This strategic alliance is aimed at delivering a new category of distributed applications that can make it cost effective to automate cross-functional and cross-organizational business processes that have heretofore resisted automation.

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GE 2Q/02

GE Capital Services reported this morning that revenues for its card services segment rose by only 1% during the second quarter, from $956 million for 2Q/01 to $962 million. Net earnings for card services declined by 6%. Net earnings for card services was $176 million for the second quarter compared to $187 million one year ago. For the first half of 2002, GE’s card services revenues have slipped by 10% from $2.0 billion to $1.87 billion. However net earnings year-to-date for card services increased by 6%, from $364 million for the first half of 2001 to $387 million for the first six months of 2002. Overall, GE’s second-quarter 2002 earnings grew 14% over second quarter 2001 to $4.4 billion, the highest of any quarter in the Company’s history. For complete details on GE’s 2Q/02 performance visit CardData ([www.carddata.com][1]).

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

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OBERTHUR EAL4

Oberthur Card Systems has received the highest security certification ever granted in France for a multi-application smart card. EAL4+ Common Criteria certification was awarded to Oberthur’s “CosmopolIC” by the Direction Centrale de la Sécurité des Systèmes d’Informations. The “CosmopolIC” smart card is the first Java multi-application card that enables applications to be downloaded or deleted after the card is issued without compromising its security components.

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