ICMA 2002

The International Card Manufacturers Association has elected one new board member and re-elected an existing board member for the 2002-2004 term. Ed Gresham of Giesecke & Devrient Systems Canada was elected to the board of directors. Re-elected to the board was Herbert Grün of Giesecke & Devrient, Germany. Directors whose terms expire in 2003 include Dean Warner of Oberthur Card Systems; Jim Pokornowski of Allsafe Company;, Bob Emerson of Bull Card Systems; Peter Cox of ID Data Systems; Fernando Bautista of Thomas Greg & Sons; Derek Chaplin of S&G Africard; and Steve Knapp of Personix. The International Card Manufacturers Association will hold its 11th Annual EXPO in Vancouver, British Columbia, Canada. The event will be held September 29 – October 2, 2002, at the Westin Bayshore Resort.


Comm Card Tool Kit

Comerica Incorporated announced the successful launch of Total Program Manager, a package of online tools for commercial card program managers looking for real-time and active control of their cardholder accounts. The announcement was made by Daniel J. McCarty, senior vice president and officer-in-charge of Treasury Management Services, as part of Comerica’s National Commercial Card User Group meetings, held this week in Texas and California.

“An increasing number of our corporate customers told us they wanted to have direct control of their cardholder accounts and now they can have it with ‘Total Program Manager’,” said McCarty. “This is a self-administration option that lets program managers directly manage cardholder accounts using the latest online tools.”

Total Program Manager includes the functionality of both iSpectrum and iTracer. iSpectrum is an online access tool that enables program managers — in real-time — to add new cardholder accounts, check posted balances, change credit and other limits, as well as merchant category codes, and more. iTracer is a popular information reporting tool that provides program managers with online access to transaction and reporting information.

“Our state-of-the-art online tools are designed to enhance the Internet experience for commercial card program managers,” said McCarty. “To introduce ‘Total Program Manager’ at a commercial card user group meeting is especially meaningful, since it underscores how we listen, understand and make it work for our customers.”

The Purchasing Card (including Canadian Dollar Purchasing Card), Fleet Card, Corporate Card, Multi Card and Comerica CompCARD(SM) comprise Comerica’s Commercial Card family of products. To find out more about Comerica’s commercial cards, visit Comerica’s web site at [http://www.comerica.com][1].

Comerica Incorporated is a multi-state financial services provider headquartered in Detroit, with banking subsidiaries in Michigan, California and Texas, banking operations in Florida, and businesses in several other states. Comerica has an investment services affiliate, Munder Capital Management, commercial banking operations in Canada and a commercial banking subsidiary in Mexico. Comerica was recently named one of the “Best Big Companies in America” by Forbes magazine. Comerica Incorporated reported total assets of $51 billion at December 31, 2001.

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


Cubic Chicago Deal

Cubic Transportation Systems, a subsidiary of San Diego-based Cubic Corp., has received a $5.5 million contract to upgrade the central computing system and infrastructure for the Chicago Transit Authority, the nation’s second largest public transportation system and the second in the U.S. to implement smart card technology.

The total value of the contract could reach $6.25 million if all options are exercised.

Cubic is the provider of the CTA’s high-tech electronic fare collection system that links all rail and regional bus operations to a single magnetic ticket or “touchless” smart card. The CTA launched a limited “trial” of 3,500 Cubic-supplied smart cards in 2000. Last September, CTA awarded a contract for Cubic to supply an additional 300,000 cards, which will be phased in by the CTA over the next two years.

The central system acts as the “brains” of the CTA’s fare collection operations, integrating and linking all rail and bus fare equipment to a central source for revenue and data management. Cubic will upgrade station-level computers throughout the CTA’s 143 rail stations to ensure seamless data upload and download operations with the central system. “These enhancements will ensure the CTA’s fare collection system continues to be powered by a high-performance, high-reliability central system,” said Walter C. Zable, president and chief executive officer, Cubic Transportation Systems. “Not only will our system have the processing power and storage to easily handle the CTA’s transaction volume today, but it will have the reserved capability to support several years of sustained annual ridership growth, consistent with the CTA’s objectives.”

The central system’s expansion will include more powerful reporting and distribution tools that will position the agency to take advantage of more advanced fare collection technologies that the CTA may add in the future. The upgrade is scheduled for completion by this summer.

Cubic Transportation Systems is the world’s largest supplier and system integrator of integrated electronic ticketing systems and has smart card contracts for public transit systems in North America, Europe and Asia. Recently, the company added a security group to expand its smart card technology into non-transit uses including security and access control. Every year, nearly 10 billion people use Cubic systems in more than 40 major markets in cities on five continents, including London, Washington, D.C., Hong Kong, Chicago, New York, Guangzhou, Shanghai, Atlanta, San Francisco, Singapore and Miami. As part of the TranSys consortium, Cubic also is supplying the entire automated fare collection system including smart cards for the London PRESTIGE project. Cubic Transportation Systems Group is one of Cubic Corp.’s two major segments. The Cubic Defense Group provides battle command training, instrumented training systems, avionics, data links, product logistical support and radio communication systems. For more information about Cubic, see the company’s Web site at [www.cubic.com][1].

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


FDC 4Q/01

First Data reported fourth quarter net income of $291 million on revenues of $1.68 billion, a 13% increase over 4Q/00. The Card Issuing Services division produced 4Q operating profits of $100.2 million, a 20% increase over last year, on revenues of $375 million, a 2% decline over 4Q/00. The Merchant Services unit achieved a 5% growth in 4Q/01 operating profit to $173 million and 22% revenue growth to $602 million. Merchant processing transactions grew 13% for the quarter. The Payment Services segment produced 4Q operating profits of $239 million, an 18% increase over last year, on revenues of $723 million, a 17% increase over 4Q/00. Emerging Payments, First Data’s eONE Global business formed in October 2000, reported $24 million in fourth quarter revenue, a growth rate of 21%. Emerging Payments produced a 4Q/01 loss of $8 million. For complete details on FDC’s 4Q/01 results visit CardData (www.carddata.com).


New NCR ISO Distributor

NCR Corporation has named KWIK KA$H ATM, Inc. of Sarasota, Florida as its newest distributor, helping NCR continue to expand its presence in the North America convenience market.

KWIK KA$H is now able to sell NCR ATMs direct to the end user or to smaller independent service organizations (ISOs). The company will sell NCR’s EasyPoint(TM) line of convenience ATMs, such as the new EasyPoint 53, as well as NCR’s Personas(TM) enhanced function ATMs.

KWIK KA$H ATM officials were impressed with the market opportunity and support available with NCR’s enhanced products and solutions. KWIK KA$H will expand its services throughout the convenience market by offering reliable automated teller machine (ATM) solutions for retailers looking to upgrade ATM functionality.

“NCR’s reputation in the self-service industry is solid,” said Michael T. Gilot, vice president and national sales director for KWIK KA$H ATM. “In addition to being a highly recognized brand in ATMs, NCR is equally well known for its point-of-sale operations. So, retailers know NCR. KWIK KA$H has 13 years of experience in working with retailers who want to enter the market with a cost-effective ATM solution. By becoming an NCR reseller, we package the strength of both companies for our customers.”

Jim Sampier, NCR national alliance sales director, added, “We are pleased to welcome KWIK KA$H as an NCR distributor. NCR works with its partner resellers to develop the solid business-case scenario for what we see as a mature, but not saturated, market. Convenience ATMs continue to be popular in the retail setting. Industry research shows that offering ATM service in a safe retail establishment will generate traffic, encourage return customers and increase sales — all of which can build bottom-line profits for the retailer or deployer.”

About KWIK KA$H ATM, Inc.

KWIK KA$H ATM, Inc., Your ATM Company, is a Florida corporation, based in Sarasota. Its mission is to provide ATM service as a convenience for retail locations throughout North America. For more information, visit [http://www.kwikkashatm.com][1] or call 1-800-884-8644.

About NCR Corporation

NCR Corporation (NYSE: NCR) is a leader in providing Relationship Technology(TM) solutions to customers worldwide in the retail, financial, communications, manufacturing, travel and transportation, and insurance markets. NCR’s Relationship Technology solutions include privacy-enabled Teradata(R) warehouses and customer relationship management (CRM) applications, store automation and automated teller machines (ATMs). The company’s business solutions are built on the foundation of its long- established industry knowledge and consulting expertise, value-adding software, global customer support services, a complete line of consumable and media products, and leading edge hardware technology. NCR employs 31,400 in more than 100 countries, and is a component stock of the Standard & Poor’s 500 Index. More information about NCR and its solutions may be found at [http://www.ncr.com][2].

NCR and Teradata are trademarks or registered trademarks of NCR Corporation in the United States and other countries.

[1]: http://www.kwikkashatm.com/
[2]: http://www.ncr.com/


Hypercom VAR Partners

The number of Value-Added Resellers and Independent Software Vendors now developing and customizing software applications for Hypercom s popular ICEä card payment terminals globally has reached 100, Hypercom Corporation reported during the company’s 2nd annual North American VAR Partners Conference. The 100th VAR/ISV, Praxell, Inc., introduced a service through Hypercom’s new Windows CE-based ICE 7000CE card payment terminal. Retailers can now offer electronic gift, cash and promotion/loyalty cards, and accept them for multi-channel payment through the Praxell Service, quickly generating new revenues for the merchant.

The 100th VAR milestone underscores a growing move by value-added resellers worldwide to team up with Hypercom® and bring to market innovative, value-added solutions not traditionally associated with card payment credit and debit applications, as well as applications which enhance the card payment experience.

It s no wonder more and more VARs and ISVs are turning to Hypercom. Their products make it easy to integrate new revenue generating applications for the point-of-sale, said Sheldon Friedman, vice president of business development, Praxell, Inc. The ICE 7000CE with Praxell s stored value solution allows retailers to put more money in their pockets almost immediately.

New revenue-generating VAR applications using Hypercom s ICE terminals are being introduced every month. Within the last 90 days alone, Smart Card Solutions LLC incorporated its turnkey ReflexGT loyalty and electronic gift certificate application into Hypercom s standard HyperWareâ credit, debit and check software. Atrana Solutions began marketing Hypercom s terminals to the prepaid, sports licensing and value-add markets in addition to its traditional payment applications and services. Hypercom and The Logix Companies have teamed up to market ICE terminals with identification verification age verification and check conversion capabilities. The Western Reserve Group (WRG) is deploying globally its new Vision 100 ATMs that incorporate the ICE 6000, and that s just the beginning.

Hypercom is listening closely to the market, they are responding, and they are clearly generating interest. They have evolved from a closed environment to a company offering a first class development environment, and they are giving value-added resellers and developers a first-time opportunity to create customized, revenue-generating applications on the ICE terminal, said Paul Martaus, president, Martaus & Associates during his keynote presentation at the Hypercom conference.

Hypercom Development Tools = Customized Applications

The combination of Hypercom s HyperWare retail/restaurant base application and its Visual HyperWare Developer s Toolkit (VHDT) lets VARs and ISVs, processors and financial institutions quickly and cost-effectively develop new highly customized applications using Microsoftâ s popular Visual Studioä platform. Equally important, all applications developed using VHDT are portable across any Hypercom terminal. For Hypercom customers, VARs and ISVs, this means working in a development environment with a wide availability of resources, a consistent application integration path for a broad range of terminals and the stability necessary for cost-effective maintenance.

Hypercom s operating system, TranSafeä, delivers a complete terminal application processing environment in which embedded payment and non-payment applications co-exist on the same terminal. An unlimited number of applications can quickly and efficiently run in tandem with financial applications on the terminal, creating a unique and complete application environment for businesses and the market is embracing the opportunity. Hypercom s 2002 VAR Conference is an annual event that brings VAR and ISV partners together with Hypercom’s executive management and engineering teams and each other. Participants get an update on Hypercom’s newest hardware and software product offerings, and exchange news and information aimed at furthering their success in developing and marketing new solutions on Hypercom terminals.

About Hypercom

Hypercom Corporation (NYSE: HYC) is the leading global provider of electronic payment solutions that add value at the point-of-sale for consumers, merchants and acquirers, and yield increased profitability for its customers. Hypercom s products include secure web-enabled card payment terminals that work seamlessly with its networking equipment and software applications for e-commerce, m-commerce, smart cards and traditional payment applications.

The company s widely-accepted ePOS-infocommerceä (epic) framework of consumer-activated, EMV-certified, touch-screen ICE (Interactive Consumer Environment) terminals enable acquirers and merchants to decrease costs, increase revenues and improve customer retention.

Headquartered in Phoenix, Arizona, Hypercom is independently acknowledged as the leading provider of point-of-sale card payment terminals worldwide. Demand for Hypercom s terminals surpassed one million units last year alone. Hypercom today maintains an installed base of more than 5 million terminals in over 100 countries, which conduct over 10 billion transactions annually. Hypercom s Internet address is [www.hypercom.com[. ][1]][2]

Hypercom and HyperWare are registered trademarks of Hypercom Corporation. ICE, ePOS-infocommerce and TranSafe are trademarks of Hypercom Corporation. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.


Value-Added Resellers/Independent Software Vendors Speak Out at Hypercom s Annual VAR Partner Conference

As a leading provider of transaction software for petro/c-store, financial, government and value add applications, Atrana has used Hypercom s Visual HyperWare® Developer s Toolkit to create powerful, flexible solutions for the POS market. Through its VAR program, Hypercom has provided Atrana the support and tools we need to create these robust feature-rich applications.

Alem Boukadoum, executive vice-president, Atrana Solutions

The ICE terminal is ideal for the point-of-sale, but it goes beyond that, as our new Vision 100 ATM demonstrates. Hypercom s development environment lets you quickly and cost-effectively develop virtually any application that a merchant would ever want, and fulfill literally any transactional or informational need that they would require at the point-of-sale and beyond. And whatever you develop is going to be backward compatible. That means that the applications work on any Hypercomâ terminal, at any time. It s that kind of flexible, scalable migration path that companies like ours are using to meet the escalating demand for highly customized solutions that add value and generate incremental revenues at the point-of-sale. We used all of this to create our new Vision 100 ATM, and that product is generating considerable interest both domestically and internationally.

Mike Stevenson, vice president, WRG

The key phrase is value added. If you can give the Independent Sales Organization, bank or any organization a tool that helps them create revenues, then you v_ got a winner. That s what we ve got with our ReflexGT gift card and loyalty program. And we have added it to Hypercom s C-based HyperWare application, so that every ISO can quickly offer it to their customers.

Bill Biwer, president, Smart Card Solutions, LLC

Hypercom and HyperWare are registered trademarks of Hypercom Corporation. ICE and ePOS-infocommerce are trademarks of Hypercom Corporation. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.

[2]: http://www.hypercom.com./



Interlink Electronics, Inc., the world’s leading developer of intuitive interface technologies and solutions for business and home applications, announced availability of ePad-POS, an e-signature solution for point-of-sale applications. ePad POS captures handwritten signatures using a standard paper receipt and ballpoint pen, converting them to e-signatures for use in electronic retail transactions. Used in conjunction with transaction automation software such as RichSolutions’ RichPayments, ePad POS offers retail stores, banks and government agencies the cost savings inherent in electronic document processing. ePad POS is available for all popular single- and multi-lane point-of-sale terminals.

ePad POS Applications

“Interlink’s ePad POS allows businesses large and small to electronically sign, process, store and retrieve retail transactions — reducing the costs associated with charge-backs, disputed claims and credit card fraud,” said Bill Pittman, CEO of RichSolutions. “It is ideal for use with software such as our RichPayments. Using RichPayments with ePad POS, customers conducting credit/debit transactions, cashing checks, or implementing electronic image/receipt capture (ERC) need only simply swipe their card, sign the receipt using ePad POS, and the transaction is electronically stored for easy retrieval.” “Printed transactions are being replaced by electronic ones in every aspect of our lives,” said Rod Vesling, vice president of marketing and sales, electronic transactions, Interlink Electronics. “This is especially true in retail stores where worldwide there are an estimated 24 million point-of-sale terminals, with almost 4 million more being added yearly. Until now, only larger merchants were able to use electronic signatures to automate point-of-sale transactions. ePad-POS, when integrated with applications such as RichPaymets on popular point-of-sale terminals, allows merchants of any size to use e-signatures to reduce their operating costs, transaction times, and losses due to charge-backs and fraud.”

About ePad

Interlink Electronics’ ePad captures the handwritten signature converting it to a biometrically secure e-signature for use in electronic forms and transactions

— enabling enhanced workflow, reduced operating costs and faster processing times. ePad e-signatures may be permanently bound into Microsoft(R) Word(R) documents, Outlook(R) e-mail messages, Adobe(R) Acrobat(R) files, Internet documents, and many proprietary forms and transactions. ePad e-signatures contain a biometric handwriting profile that may be used to authenticate the identity of a signer. The ePad writing surface, which accepts signatures using any common stylus, has the natural feel of writing on paper. ePad POS, the latest addition to Interlink’s ePad product line, offers USB, serial, and custom interface connections to all popular point-of-sale terminals. Priced at $75 U.S., ePad POS is available from Interlink Electronics at [http://www.epadlink.com][1].

About RichSolutions, Inc.

RichSolutions, Inc., is a privately held corporation based in Redmond, WA, and is the leading provider of innovative ePayment Web Services for processing credit, debit/ATM card, and check services. RichSolutions develops integrated ePayment solutions that work on any device, at anytime and anyplace. RichSolutions has established long-standing relationships with banks and institutions that help process electronic payment transactions. RichSolutions can be reached through the Internet at [http://www.richsolutions.com][2].

About Interlink Electronics

Interlink Electronics, Inc. is the world’s leading developer of intuitive interface technologies and solutions for business and home applications. Products include electronic signature solutions for enhanced workflow, point-of-sale and consumer applications, interactive remote controls for business communications and broadband entertainment markets, and integrated interface solutions for specialty and consumer electronics products. Interlink Electronics’ customers include Compaq, SANYO, Sony, Microsoft, NEC, Sharp, Toshiba, Pioneer, Mitsubishi, and InFocus Corporation. Within the electronic transactions market, the company’s industry partners include Bluepoint Solutions, Cardiff, Communications Intelligence Corporation (CIC), RichSolutions Inc., Silanis Technologies, and Valyd Inc. Interlink Electronics maintains offices in Camarillo, California, Tokyo and Hong Kong, and is available online at , or in Japan at [http://www.interlinkelec.co.jp][3].

[1]: http://www.epadlink.com/
[2]: http://www.richsolutions.com/
[3]: http://www.interlinkelec.co.jp/



Euronet Worldwide, Inc., a leading provider of secure electronic
financial transaction solutions, announced the formation of a joint
venture with Hong Kong-based First Mobile Group Holdings Limited, one of the
largest mobile phone distributors in the
Asia Pacific region. The joint venture company will initially market
transaction-processing services to mobile operators and banks in Malaysia.
The joint venture company plans to be the first to offer Mobile Bill Pay and
Electronic Recharge services enabling mobile phone users to pay utility bills
and to add minutes to their prepaid mobile service via their GSM phone, at a
point-of-sale terminal, over the Internet or at an ATM. The joint venture,
already in discussions with Malaysian mobile operators, will establish a data
center in Malaysia to support secure electronic transactions, based on
Euronet’s core processing engine. These SMS, SIM Toolkit and WAP based payment
solutions will be offered to all mobile operators as a completely outsourced,
wireless ASP solution.

To quickly establish itself in the market, the joint venture will leverage the
strengths of the parent companies, including First Mobile’s established
relationships with all five mobile operators in Malaysia. First Mobile is one
of the region’s largest distributors of mobile phones and accessories. In the
first nine months of 2001, First Mobile sold approximately 3.4 million mobile
phones in Asia, generating approximately $490 million in sales. The joint
venture will also use Euronet Worldwide’s vast experience providing electronic
transaction processing and services across multiple touchpoints, including
mobile phones, in more than 60 countries.

“This joint venture with Euronet is a strategic component of First Mobile’s
plan to augment our distribution capabilities with electronic transactions,”
said Ng Kok Hong, Executive Chairman of First Mobile Group Holdings Limited.
“Euronet’s proven technology and quick-to-market solutions will enable us to
provide recharge capabilities across multiple touchpoints.”

Euronet’s prepaid Electronic Recharge services will provide a strong
competitive advantage for mobile operators who will be able to eliminate
paper-based logistics associated with scratch cards (i.e., production,
delivery, inventory management); significantly reduce their distribution
enhance user experience (one-step recharge – any time, any place); and control
churn. A large segment of the Malaysian population will be able to take
advantage of this opportunity, with approximately 4 million people currently
using prepaid mobile phone services in Malaysia.
“With a population of 23 million and annual growth rate in the prepaid mobile
phone segment exceeding 50 percent, the Malaysian market holds tremendous
opportunities for our products. Partnering with the region’s largest mobile
phone distributor, Euronet will quickly enter the mobile payment space by
leveraging First Mobile’s relationships with the country’s mobile operators,”
said Michael Brown, Euronet Worldwide Chairman and CEO. “Mobile payment
solutions will be popular in this technology-savvy region, and we are prepared
to offer the solutions that customers demand.”

About Euronet Worldwide

Euronet Worldwide is a global provider of secure electronic financial
transaction solutions. Euronet’s financial payment middleware, financial
network gateways, outsourcing and consulting services enable its customer
banks, financial institutions, and mobile operators to provide their clientele
access to personal financial information and to perform secure financial
transactions — any time, any place. Euronet’s Integrated Transaction
Management (ITM) secure payment technology powers financial transaction
solutions for more than 200 clients in 60 countries, as well as the company’s
processing centers located in the United States, Europe and Indonesia. The
company owns and operates the largest independent ATM network in Europe with
corporate headquarters in Leawood, Kansas, USA, and European headquarters in
Budapest, Hungary.

About First Mobile Group Holdings Limited

First Mobile Group Holdings Limited is principally engaged in the distribution
of a wide variety of brands of mobile phones and related accessories in the
Asia Pacific Region through its distribution network in Mainland China, Hong
Kong, Malaysia, the Philippines and the UK. It mainly sells and distributes
selected models of Siemens, Samsung, Alcatel, Sewon, Kyocera, Sagem and
Philips. The company was listed on the Growth Enterprise Market of The Stock
Exchange of Hong Kong Limited on December 29, 2000.


Diebold 4Q/01

Diebold reported fourth quarter net income of $43.9 million on record revenue of $508 million. ATM revenue grew 14.5% on a fixed exchange rate basis with financial self-service product revenue up 13.3% and service up 16.2%. During the quarter Diebold signed a seven-year outsourcing service contract with Bank of America valued at $71 million per year and picked up $39 million in international ATMs orders. Several large financial institutions in China ordered $14 million for self-service technology, while $10 million in new ATM orders came from Brazil, $6.7 million from several financial institutions in Italy, $5.3 million from a large financial institution in Russia, and $3 million from a large financial institution in Australia. For complete details on Diebold’s 4Q/01 results visit CardData ([www.carddata.com][1]).

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



U.S. Bank and Washington state-based Recreational Equipment have launched a co-branded VISA card. REI is a major retailer of gear and clothing for outdoor activities such as hiking, camping, climbing, skiing, paddling and bicycling. REI is also the nation’s largest consumer cooperative with two million active members, and annually shares its profits with members through a patronage refund based on their regularly priced purchases. The ‘REI VISA’ provides members a one-percent rebate on all non-REI purchases made with the card. While REI reduces patronage refund amounts by two percent for credit card purchases, holders of the new ‘REI VISA’ card receive a full patronage refund on their eligible REI purchases. The patronage refund and rebate are issued annually and can be redeemed at REI by mail, phone, Internet or at any of the company’s 59 retail stores. The new no-annual-fee card is available in ‘Classic’ or ‘Gold’ versions. US Bank is charging a prime +7.99% APR for the ‘Gold’ card and prime +8.99% for the ‘Classic’ card.


Providian Collections Chief

Providian Financial Corporation President and Chief Executive Officer Joseph Saunders announced that Jim Jones has been named Vice Chairman of Credit and Collections. Jones, who has been serving as president of the Company’s international operations, will report to Saunders.

Prior to joining Providian in September of 2000, Jones was President of Direct Banking and Insurance for Bank of America and was responsible for telephone banking, interactive banking, military banking, student lending, associate banking, and insurance. He previously served Bank of America as Group Executive Vice President and head of Consumer Credit.

Prior to that, Jones was Executive Vice President and head of Consumer Credit at Wells Fargo, a company he served for 14 years. He began his banking career at Citicorp.

“Jim provides a unique blend of credit, collections and marketing expertise that fits well as a part of the new management team I am assembling at Providian,” said Saunders.

Jim Redmond, who had been splitting his time between the management of credit and operations, will focus his time in the credit risk management area, reporting to Jones.

Jones will continue to manage the operations in Argentina and the United Kingdom as the Company exits those markets.

San Francisco-based Providian Financial is a leading provider of credit cards and deposit products to customers throughout the U.S.