New Equitex Card

Equitex, Inc. announced today that it has signed a letter of intent to utilize its resources to develop a credit card program for an existing financial institution. Completion of this transaction is subject to further due diligence by both parties, negotiation and execution of a definitive agreement, necessary state or federal regulatory approvals, board of director approval and any necessary stockholder approvals.

Equitex, Inc. is a holding company operating through its wholly owned subsidiaries Nova Financial Systems and Key Financial Systems of Clearwater, Florida and Chex Services of Minnetonka, Minnesota. Nova and Key design, market and service credit card products. Chex Services provides comprehensive cash access services to casinos and other gaming facilities.

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ERNEX & COGNOS

Retail is the second-largest
industry in the United States, generating more than $3 trillion in sales
annually. Using Cognos powerful business intelligence capabilities via an
extranet, Ernex Marketing Technologies, a leading provider of real-time
electronic marketing and customer loyalty solutions, is helping their
customers to maximize revenue opportunities in this highly lucrative market.
Cognos is the leading global provider of business
intelligence solutions.

Using Cognos PowerPlay(R) and Impromptu(R) Web Reports, Ernex helps
customers like Nike Canada Ltd. and Eddie Bauer build more targeted electronic
marketing programs that maximize customer loyalty and marketing ROI. Retailers
can identify and target their most profitable customers– right at the point
of sale– thanks to shopping information made available via a Cognos-powered
extranet.

“With Cognos’ robust, Web-based reporting and analysis, our customers are
able to dig insightfully into their collected purchasing data, allowing them
to perform profitability analysis as well as deliver personalized
communications to the consumer in the form of loyalty points, customer
coupons, or instant prizes,” said Malcolm Fowler, executive vice president,
products and marketing, Ernex Marketing Technologies. “Cognos allows quick and
easy access via the Internet, which means that our customers always have
access to the most up-to-date information.”

Nike Canada Ltd. uses this system to view reports on their Air Max Club
loyalty program at their flagship store in Toronto, allowing marketing
executives to gain a more comprehensive view of the customer base. “We simply
log onto the reporting site and can quickly obtain information on customers in
our loyalty program, such as sales, transactions, top customers, new member
acquisitions and more,” said Kerry Fleiser, retail marketing coordinator, Nike
Canada Ltd.

“Cognos solutions are designed to leverage the speed and ease of use of
the Web and the information and analysis delivered through these extranets
help companies coordinate their interactions and strengthen relationships with
customers and suppliers,” said Dave Laverty, senior vice president, global
marketing, Cognos. “Ernex is an excellent example of the many leading
companies that have recognized the inherent cost advantage and knowledge-
sharing opportunities that Cognos offers and are using these solutions to
improve the ways in which they do business.”

About Ernex Marketing Technologies:

Ernex Marketing Technologies is a provider of innovative real-time
marketing solutions for merchants, credit card and bankcard issuers, and large
membership organizations. Its solutions include loyalty programs, stored-value
gift card programs, reward fulfillment services and loyalty database hosting
services. For more information, contact Ernex at 877-GO-ERNEX or visit
www.ernexinc.com. Ernex is a wholly owned
subsidiary
of RBC Financial Group.

About Cognos:

Cognos is the leading provider of enterprise business intelligence
solutions that optimize the performance of the world’s largest and most
successful organizations. Founded in 1969, Cognos serves more than 19,000
customers in 120 countries around the world. Cognos business intelligence
solutions and services are also available from more than 3,000 worldwide
partners and resellers. For more information, visit the Cognos Web site at
http://www.cognos.com.

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Imagitas Nabs Catalina Founder

Imagitas has named Michael R. O’Brien to its Board of Directors expanding an already distinguished group of public and private sector leaders. Co-founder of Catalina Marketing Corporation, O’Brien was the company’s Chairman and CEO from its inception in 1983 until 1992.

“Imagitas is honored to have Michael O’Brien join our Board of Directors,” said Brett Matthews, CEO of Imagitas. “His knowledge and business experience in targeted marketing and building fast-growth profitable businesses make him exceptionally qualified to help guide Imagitas to continued success.”

Imagitas provides targeted marketing solutions to national, regional and local advertisers by forging public and private partnerships, including the United States Postal Service and state department of motor vehicles. The company’s unique life-stage marketing approach provides service for over 200 advertisers and provides important public service information and savings to more than 50 million people annually.

Mr. O’Brien joins fellow Board members: Stephen Clearman, Managing Partner – Geocapital; Patricia McGinnis, President and CEO- Council for Excellence in Government; Glenn Youngkin, Managing Director -The Carlyle Group; Charles Farber, Senior Investment Officer – Liberty Mutual; Chris Hessler, President and Brett Matthews, Chairman and CEO – Imagitas.

Lauded as a “pioneer” by Business Week magazine, Michael O’Brien has received numerous honors including being named one of Orange County, California’s Entrepreneurs of the Year in 1991. Prior to his involvement with Catalina, Mr. O’Brien founded TRIM, Inc. a successful marketing research company. He also served on the Board of Directors for Memberworks, Inc. (NASDAQ:MBRS).

About Imagitas: Imagitas is a privately held, marketing solutions firm based in Waltham, Mass. Founded in 1992, the company is focused on creating public and private partnerships that help government save money, help advertisers reach customers during major life events and provide consumers savings on products related to those events. Imagitas blue chip list of advertisers include: Home Depot, Lowes, Ace Hardware, ATT, SBC, AOL/Time Warner, Sprint, Verizon, DirecTV, New York Times, Chicago Tribune, Geico, Garden State, AAA, Ryder, TransWorld Van Lines, Visa, Bank One, Bank of America, Staples, Blockbuster, Wakefern Food Corp, A&P.

Imagitas has won two Hammer Awards from the Vice President of the United States for helping to create a government that works better and cost less while serving the needs of its citizens.

For more information, about Imagitas visit .

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Gemplus CFO & COO

Gemplus announed Thursday that following the departure of Steven Gomo, the company confirmed that Yves Guillaumot has assumed the responsibilities of Chief Financial Officer on an interim basis until a permanent successor is appointed.

Frederic Spagnou, Chief Operating Officer since May 2000, will be leaving Gemplus on March 31, 2002. Frederic’s responsibilities have been allocated to managers within the Group.

About Gemplus

GEMPLUS: the world’s number one provider of solutions empowered by Smart Cards

Gemplus helps its clients offer an exceptional range of portable, personalized solutions that bring security and convenience to people’s lives. These include mobile Internet access, inter-operable banking facilities, e-commerce, and a wealth of other applications.

Gemplus is the only completely dedicated, truly global player in the Smart Card industry, with the largest R&D team, unrivalled experience, and an outstanding track record of technological innovation.

Gemplus trades its shares on Euronext Paris S.A. First Market and on the Nasdaq Stock Market as GEMP in the form of ADSs. Its revenue in 2001 was 1.023 Billion Euros. It employs 6721 people in 37 countries throughout the world.

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DIGIPASS PRO 800

VASCO Data Security International, a global provider of
enterprise-wide security products that
support e-business and e-commerce, announced that its award-winning and
commercially successful Digipass Pro 800 is available for usage with EMV
cards. EMV is the leading standard chip protocol used by e.g.
Europay-Mastercard. Digipass 800 Pro for EMV will be the authentication
solution offered to worldwide financial institutions as a part of
Europay-Mastercards’ “Chip Authentication Program”.

Digipass 800 has the strongest track record for a reliable authentication
device incorporating a chip reader, with more than 800,000 units sold worldwide.
The availability of Digipass Pro 800 for EMV (Europay-Mastercard-VISA) opens a
huge worldwide market for VASCO. EMV is believed to become the global
standard for payment cards by the end of 2005. In important European
countries such as the UK, millions of chip cards are already compliant with
EMV. Germany will follow shortly.

The Chip Authentication Program by Europay-Mastercard offers numerous
advantages for banks, e-merchants, and cardholders. An important advantage for
the banks is the fact that the program offers a single, global means to access
all remote channels in a secure way, by offering secure authenticated access
to e- and m-commerce and e- and m-banking, whilst the EMV standard and the
Digipass products have a proven track record. Merchants now have at their
disposal a safe means of doing e-business, in line with UCAF (Universal
Cardholder Authentication Field), the worldwide standard for secure
authentication, and in line with the MasterCard Guaranteed Transactions model.
Cardholders win a single access method towards all banking services, without
having to change the way they interact with their bank.

“Both VASCO and Europay-Mastercard strive towards the same goal: to
secure the trust and the value of their customers” says Jan Valcke, VASCO’s
executive Vice President for Sales and Marketing. “VASCO is delighted to be
able to contribute to Mastercards’ Chip Authentication Program. Our Digipass
800 has been ready for some time, and is already used by over 800 000
customers as we speak. Together with Mastercard, we will make e-banking,
e-commerce, and m-commerce transactions via chip cards much more secure whilst
keeping it extremely user friendly.”

“It is a pleasure working together with VASCO and to help deploy Chip
authentication solutions to our members,” said Pascal Dufour, Head of New
Products development at MasterCard International. “Europay and MasterCard is
paving the way in developing multi-channel secure authentication and payment
services that enable our Member banks to improve their business efficiency and
offer better services and convenience to today’s consumer. By leveraging
existing EMV Chip cards and thanks to the industry, banks can now clearly
answer most of their challenges in the virtual world. Once again, this
demonstrates the added-value of Chip cards and the commitment of MasterCard to
its Member banks.”

About Europay International

Europay International, headquartered in Waterloo, Belgium, is Europe’s
leading payments organization, dedicated to providing a tailored product range
and support services to its more than 9,000 Member banks. At present, almost
262 million cards (Eurocard-MasterCard, Maestro, Cirrus and Eurocheque)
provide European and global debit and credit card services, and offer cash
access to Europe’s largest network of more than 264,000 ATMs in 41 countries.
Through its alliance with MasterCard International, over 580,000 ATMs and more
than 19 million retail locations worldwide accept Europay products. Europay’s
website at
http://www.europay.com/ gives a detailed
view
on the company’s products and
services and shows how Europay offers its Member banks both support and
leadership on issues including virtual commerce, chip technology, security &
risk management, and the advent of the euro.

About VASCO

VASCO secures the enterprise from the mainframe to the Internet with
infrastructure solutions that enable secure e-business and e-commerce, protect
sensitive information, and safeguard the identity of users. The Company’s
family of Digipass(R) and VACMAN(R) products offers end-to-end security
through strong authentication, digital signature, network Single Sign-On, and
Radius, LAN and Web security, while sharply reducing the time and effort
required to deploy and manage security. VASCO’s customers include hundreds of
financial institutions, blue-chip corporations, and government agencies in
more than 50 countries. More information is available at
http://www.vasco.com .

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ZOOP Payments

The University of Southern California and USC Marshall School of Business’ Center for Telecommunications Management is piloting a wireless payment environment. USA and CTM and Harex InfoTech’s ZOOP International are teaming up for the research project. The service will use the ZOOP Universal Mobile Payment Service. The trial service is expected to launch at the beginning of the USC fall semester in August 2002. The ZOOP UMPS system utilizes the Infrared Financial Messaging standard in conjunction with ZOOP Service Centers. The ZOOP system allows financial institutions and merchants to download and enable digital cards, tickets or tokens to a mobile phone where they then can be “beamed” to a POS terminal using an infrared connection. The USC wireless infrared payment environment will first be established in such campus venues as cafeterias, restaurants, and bookstores. The service will expand to university vending machines, parking garages, stadium concessions, and nearby restaurants. Trial users, such as students, professors, and administrators, will be able to pay by beaming their preferred payment instrument, such as credit card, debit card, or USCard directly from their mobile phone to any infrared-enabled payment terminal.

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Net 1st Replacement

Equitex, Inc. subsidiary, Key Financial Systems, Inc. announced that it has amended a current contract providing marketing services to a credit card issuer. Under the agreement, Key had previously been authorized to market the issuer’s credit card program to up to 500 customers per day. Key has now been authorized to market the program to a potential 5,000 customers per day. Key receives a fee for each completed application for the issuer’s credit card.

Equitex, Inc. is a holding company operating through its wholly owned subsidiaries Nova Financial Systems and Key Financial Systems of Clearwater, Florida and Chex Services of Minnetonka, Minnesota. Nova and Key design, market and service credit card products. Chex Services provides comprehensive cash access services to casinos and other gaming facilities.

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LEUMI VBV

Leumi Card, one of the fastest
growing Visa issuers in Europe, has selected Cyota for providing SecureVbV
– a Verified by Visa service.
The commercial launch, scheduled for next quarter, will position Leumi Card
customers among the first in Europe to use the new Verified by Visa
initiative
promoted by Visa EU.

Cyota SecureVbV is implemented by some of the world’s largest Visa credit and
debit card issuers. SecureVbV is provided as a hosted service in the US and
Europe, offering a risk-free approach that helps issuers launch Verified by
Visa without any integration efforts or IT investment. Alternatively
SecureVbV
is offered as an in-house solution for large card issuers and processors.
Leumi Card, one of Israel’s leading credit card companies, has achieved
phenomenal growth by capturing almost 50% of the nation’s Visa card volume
within its first year of operation.

“We are proud to be among the world’s first financial institutes to adopt
Visa’s new payment security standard,” said Arie Heliweil, Leumi Card CEO.
“We
performed a thorough screening process, at the end of which we selected the
one
company that offered the most advanced and user-friendly service available.
Cyota is a world leader in online payment security solutions, and with its
security platform we can provide a wide range of security products to our
customers.”

“After paving the way in the US Verified by Visa market, we are excited to
engage in one of the first Verified by Visa implementations in Europe,” said
Naftali Bennett, Cyota CEO, “We are very glad to add Leumi Card to our list
of
clients.”

SecureVbV has been developed in conjunction with Verified by Visa to enable
card issuers to verify a cardholder’s identity through the use of a password
and provide results to the merchant in real time during the virtual checkout
process.

SecureVbV is part of Cyota SecureSuite(TM), a modular online payment security
platform designed to support, in a single core implementation, a wide range
of
authentication and card security products including Verified by Visa,
MasterCard SPA and Cyota’s surrogate number solution. SecureSuite allows card
issuers to implement current and emerging security initiatives in any order
and
at their own pace, while maintaining a single user experience even as new
protocols are introduced.

About Cyota

(http://www.cyota.com)
Cyota
(http://www.cyota.com) is a leading payment security
company that is dedicated to helping financial institutions strengthen their
customer relationships through reliable, flexible, easy to use online
security,
payment and transaction products. Cyota SecureSuite(TM) is a revolutionary
platform designed to serve as the backbone for integrating numerous e-payment
initiatives. Cyota services multiple clients in North America and worldwide.
Founded in 1999 by leading card and security industry experts, Cyota is
headquartered in New York with offices worldwide. Cyota is led by a respected
management team with extensive experience in the security, Internet and
banking
industry and is supported by an international Advisory Board comprised of
world-renowned financial and security experts.

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SCA TPI Cards

KY-based Tempur-Pedic, a provider of specialty mattresses, bedding, and other sleep-related products, has retained Shoppers Charge Accounts Co. to develop and operate its new private label credit card program. In order to encourage consumers to apply for TPI credit cards, the company is offering “90-days same as cash” terms as its primary credit marketing tool. SCA acquires retailers’ receivables or will develop private label credit card programs for merchants who currently don’t offer a house charge. In both situations, SCA assumes responsibility for generating customers’ billing statements; managing credit, collection, and lockbox functions; and creating customized marketing programs.

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NextCard Bonds

NextCard’s total delinquency for the January reporting period hit 7.10% and the gross charge-offs were at 11.56%. Standard & Poor’s warned yesterday that if charge-offs continue to increase, or are accelerated as a result of the adverse impact on servicing caused by the NextCard situation, the excess spread rate could decline significantly in future months for its credit card securitizations. The FDIC indicated that an early amortization, based solely on insolvency or appointment of the FDIC as receiver, is not enforceable against the FDIC. However, the FDIC has not indicated any questions or doubts regarding the validity of any other trigger events, including events based on collateral performance. The FDIC is seeking a buyer for the portfolio and has completed a substantial modification of the subservicing agreement, which essentially eliminates the agreement and transfers servicing responsibility from NextCard back to the servicer, NextBank. The FDIC expects the transfer of NextCard employees to Automated Management Services Co. to be completed in the near future. AMSC is a contract employment agency, which has entered into a contract with the FDIC as receiver for NextBank to service the collateral. In an effort to avoid attrition of NextBank’s servicing personnel, which currently totals approximately 600 employees, the FDIC is offering retention bonuses. So far, NextBank has only experienced modest attrition of its servicing personnel. (CF Library 2/13/02)

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CardLess ATM

A small CT-based firm announced this morning that it will deliver an ATM in May that enables consumers to obtain cash using only a thumb signature or retina scan. City-Money Inc. says its new eyeTeller ATM can also be used at the POS, enabling consumers to make purchases without a payment card. The company says the new ATM will also offer bill pay, maps, money and wire transfers, ability to read e-mail, send e-mail, buy movie and concert tickets, and other Internet-based transactions. Under the program, the customer fills out an application for a line of credit and then accesses the funds through an eyeTeller machine. It also utilizes fingerprint authentication for sales transactions and payroll check cashing, and offers customers the option of electronic check processing. The eyeTeller sells for $10,000 to 20,000 depending on functions and services. The firm describes itself as an online merchant services company.

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PARADATA E-SELECT

Paradata Systems
announces that Moneris Solutions, North America’s sixth largest merchant
solutions provider, will offer Paradata’s payment services to its merchants in
the United States.

Under the e-SELECT name, Moneris is extending the branding of Paradata’s
Merchant Integration Kit and payment service from Canada into the United
States.

“Paradata’s agreement with Moneris shows our dedication to creating long term,
solid partnerships with financial organizations to help build strong brands
and
provide merchants with comprehensive integrated payment options,” comments
Shannon Byrne, Paradata’s president and chief executive officer. “By combining
Moneris’ acquiring strengths with Paradata’s technical knowledge, e-SELECT
will
be the brand name of choice to meet the current and future payment
requirements
of North American businesses.”

“The strength of e-SELECT is that it adds incredible versatility to Moneris
Solutions’ product mix,” says Andrea Goldstein, sr. vice president & general
manager, Moneris U.S. “Whether you’re a web start-up company or a large firm
requiring a customized solution for Level II business-to-business
transactions,
e-SELECT is the perfect choice.”

e-SELECT is an award-winning online tool and virtual point-of-sale terminal
that enables merchants to set up and process payments over the Internet. The
benefits include: real-time online transactions, advanced security, total
flexibility and scalability, easy to integrate into most shopping carts, 24.7
customer service and technical support, web-based access to complete financial
and transaction information.

e-SELECT is based on advanced 128-bit security technology and supports a
variety of payment protocols, such as Visa Payer Authentication, SSL and SET.

About Paradata Systems Inc.

Paradata Systems Inc. founded in 1993, provides industry leading Global
Integrated Payment Systems and services. The company has applied its expertise
in software development, security technology, and transaction processing to
fill a niche in global commerce. Paradata’s full service offering to financial
organizations and their merchants includes web-based tools that simplify
enablement and end-to-end, 24.7 technical support.
To learn more about Paradata, go to
www.paradata.com,
800/604-DATA (3282) or
contact Caroline Grimont, vice president of Business Development and Marketing
at cgrimont@paradata.com.

About Moneris Solutions Inc.

Moneris Solutions is a leading North American technology and merchant
processing company that was formed in December 2000 as a result of a joint
investment between the merchant services divisions of the Royal Bank of Canada
Financial Group, Bank of Montreal and Harris Bank. In less than a year,
Moneris
has over 300,000 North American customers; 18 ISO’s; a staff of 900 employees;
and offices in Buffalo Grove, Illinois; Toronto, Ontario; and Montreal,
Quebec.
For more information, visit
www.monerischargeit.com.

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