Trintech Signs PRE

Trintech Group Plc, a global provider of secure payment infrastructure solutions, announced that PRE Solutions, Inc. has selected Trintech as the infrastructure provider of software and hardware for their next generation multinational prepaid transaction processing system.

As part of the agreement, PRE Solutions will use Trintech’s PayWare 9300i terminals and PayWare PrePay Host software to manage the distribution of prepaid cellular services, prepaid long-distance products, prepaid Internet access and other prepay applications in a wide range of retail outlets, known as replenishment points. The Trintech platform will enable PRE Solutions to more efficiently manage the routing and balancing of the rapidly increasing volume of prepay transactions the company processes each day.

In the initial phase, PRE Solutions will deploy Trintech electronic payment terminals in outlets that range from grocery and convenience stores to check cashing locations and gas stations. PRE Solutions expects its replenishment network to grow substantially in the next few years.

Trintech’s highly scalable prepay solution is designed to support a wide range of prepay products including disposable and reloadable schemes. Going forward, Trintech will work closely with PRE Solutions to deploy other prepay applications as the rapidly expanding market for prepay services continues to evolve. These services may include loyalty programs, stored value cards, cable service, utilities, and more.

“Trintech has proven to be an ideal partner for PRE Solutions and we are looking forward to a fruitful on-going relationship,” said Richard Hebert, Chief Technology Officer at PRE Solutions. “Our aim is to provide consumers with an easy-to-use, one-stop environment that meets all of their prepaid replenishment needs. With Trintech’s PayWare technology we can now offer our customers the enhanced services they are requesting.”

“We are delighted to have been chosen by PRE Solutions for the roll-out of this exciting project,” said John Harte, Group EVP at Trintech. “Our end-to-end PayWare infrastructure is ideally suited to the exacting demands of the prepay environment. With multiple applications supported across a variety of retail outlets, we believe PRE Solutions will harness the true potential of the growing prepay market in the US.”

About PayWare PrePay

PayWare PrePay is a comprehensive and proven solution that provides electronic purchase, top-up or replenishment of cellular prepay, long distance calling cards and many other prepaid accounts and services. Currently many prepaid services rely on the distribution of vouchers or scratchcards. PayWare PrePay replaces this costly and inefficient paper-based distribution with an online point of sale solution that improves profitability, reduces theft, requires no stock and improves cash flow throughout the distribution chain. PayWare PrePay enables retailers and merchants to deliver multiple transactions through a single point-of-sale device or terminal. The solution also supports integrated point-of-sale, call center, IVR and Internet prepay transactions.

About PRE Solutions

Based in Norcross, GA, PRE Solutions, Inc. is a leading provider of prepaid transaction processing solutions to retailers and providers of goods and services. To retailers PRE Solutions offers highly profitable, convenient, secure and easy-to-use point-of-sale systems for processing the sales of numerous prepaid products by multiple providers. To providers of prepaid products, PRE Solutions offers cost-efficient access to an international distribution network of replenishment partners and a robust transaction processing system.

The PRE Solutions system features real-time product delivery, transaction accounting and reporting, and accelerated payment transfer-all within the most secure and reliable processing environment in the industry. PRE Solutions’ current prepaid wireless providers include Cingular Wireless, VoiceStream Wireless, AT&T Wireless, ALLTEL and CallPlus. The company also offers prepaid Internet service through Slingshot, Inc., prepaid home telephone service via 1-800-RECONEX and prepaid long-distance from several national providers. PRE Solutions’ lead investor is ITC Holding Company, the primary investment sponsor of a number of successful companies, including Telecom*USA, Powertel, MindSpring, ITC^DeltaCom, Headhunter.net, and Knology. PRE Solutions can be contacted at 520 Guthridge Court, Suite 100, Norcross, GA 30092 (Tel: 770-349-2300). PRE Solutions can be reached on the Web at [http://www.presolutions.com][1]

About Trintech

Founded in 1987, Trintech is a leading provider of secure electronic payment infrastructure solutions for card-based transactions for physical world commerce, eCommerce and mobile commerce. The company offers a complete range of payment software products for credit, debit, commercial and procurement card applications, as well as being a world leader in the deployment of payment solutions for Internet commerce that are fully SSL and SET� compliant. Trintech’s range of scalable open systems architecture solutions for UNIX® and Windows NT� platforms covers consumer, merchant and financial institution requirements for physical payments and the emerging world of electronic commerce. Trintech can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94403 (Tel: 650-227-7000) and in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: 353-1-207-4000). Trintech can be reached on the Web at [http://www.trintech.com][2].

[1]: http://www.presolutions.com/
[2]: http://www.trintech.com/

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UATP Cuts Fees

Universal Air Travel Plan, Inc. announces a measure, approved by the UATP Board of Directors, designed to benefit UATP owner airlines during this challenging time in the industry. All 24 UATP Shareholder airlines will receive a one-time fee reduction in annual UATP assessments. In addition to the hundreds of millions of dollars the UATP program saves its members annually, the fee reduction is another cost-cutting measure UATP has initiated to assist members.

Richard Crum, UATP President and Chairman of the Board, said, “In light of the fragile economic state of the airline industry, UATP initiated many cost-saving measures in the fourth quarter of 2001. As the industry’s own solution to rising credit card costs, UATP continues to lead initiatives to improve its airline owners’ bottom-line and to benefit the airline industry as a whole.”

Universal Air Travel Plan Inc., formerly known as Air Travel Card®, is the world’s first corporate travel payment system. Founded in 1936, UATP is owned and operated by each card-issuing airline and accepted by over 180 airlines worldwide. UATP offers the most complete data and lowest administrative cost of any charge product in the airline industry. With annual global billings over USD 8 billion, multi-national corporations, including 73 percent of the Top 100 Global, utilize UATP to better manage travel expenses.

Airlines currently issuing UATP accounts include Aer Lingus, Air New Zealand, Alitalia, American Airlines (NYSE: AMR), Austrian Airlines, British Airways (NYSE: BAB), Continental (NYSE: CAL), Delta Air Lines (NYSE: DAL), Japan Airlines (NasdaqSC: JAPNY), KLM Royal Dutch Airlines (NYSE: KLM), Lufthansa German Airlines, QANTAS, Scandinavian Airlines System, United Airlines (NYSE: UAL) and US Airways (NYSE: U). For more information, visit [http://uatp.com][1] .

[1]: http://uatp.com/

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CO-OP Expands

CA-based CO-OP Network and MI-based Service Centers Corporation have signed a letter of intent to merge the two organizations. CO-OP Network has a credit union/ATM presence in 49 states and Canada, and serves more than 10 million credit union cardholders. SCC has a presence in 12 states and Washington, D.C., and serves nearly 4 million members. SCC serves nearly 350 credit unions and CO-OP has more than 800 member credit unions. When the merger is complete, the combined ATM/EFT network will offer over 12,000 surcharge-free ATMs throughout North America to credit union cardholders. SC24 ATMs and cards will be re-branded with CO-OP Network logos.

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National City 4Q/01

National City reported a 2.6% contraction in receivables over the past twelve months. As of Dec 31, NC had $2,203,055,593 in card loans compared to $2,264,134,984 at year-end 2000. Volume was also off by 7.1%, dropping from $1,276,009,303 for 4Q/00 to $1,186,310,138 for 4Q/01. For complete details on National City’s 4Q/01 performance visit CardData (www.carddata.com).

NATIONAL CITY TRACK RECORD
4Q/00 3Q/01 4Q/01
RECV: $2.2b $2.1b $2.3b
Q VOL: $1.2b $1.1b $1.3b
ACCTS: 1.7m 1.8m 1.1m
ACTIVES: 1.1m 1.1m 0.7m
CARDS: 1.4m 1.5m 2.0m
Source: CardData (www.carddata.com)

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Genpass Renews ATM Agreement

Genpass Service Solutions, the largest independent ATM maintenance and servicing company in the U.S., announced on Tuesday that California Federal Bank, an indirect subsidiary of Golden State Bancorp, has agreed to a three-year extension of its ATM servicing agreement.

This marks the third renewal for this major Genpass Service Solutions’ customer.

Genpass Service Solutions is the ATM maintenance and supply company owned by Genpass Inc., owner and operator of the MoneyMaker(SM) and MONEY BELT(R) EFT networks and one of the top five ATM drivers in the U.S. Genpass Service Solutions is experiencing rapid growth since its purchase by Genpass two years ago. The company has grown more than 20% this past year alone. The renewal of Cal Fed, which owns over 500 ATMs, means that Genpass continues to have a significant base in the Western U.S. while it continues its expansion.

Alan Mulder, Senior Vice President of Sales for Genpass Service Solutions, spoke on behalf of Genpass: “We have had a long and mutually helpful relationship with Cal Fed, and we are very pleased to see the confidence they continue to have in us.” He went on to say that Cal Fed’s ATMs are an important share of the California EFT market and provide a stable base for Genpass to expand in that region.

Cal Fed, the second-largest savings and loan in the U.S., provides a full range of banking services including an expanding EFT program.

Spokesperson Bobbi Eddy, Vice President ATM Services, describes why Cal Fed has again selected Genpass: “California Federal Bank considers Genpass one of our strategic partners in ensuring our customers have access to their cash when they want it, where they want it. The range of services that Genpass provides, in addition to the commitments they have made, allows us to rely on them as our primary ATM service provider. We are looking forward to continuing this partnership for the next 3 years.”

Tim Connor, President of Genpass Service Solutions, explains the success of the Genpass service philosophy this way: “At Genpass, we understand that keeping our customers’ loyalty — along with offering them services that no other major EFT provider does — is the recipe for our success. That is why we focus on innovation, customized programs, training and service guarantees that exceed our customers’ expectations.”

About California Federal Bank

California Federal Bank is a subsidiary of Golden State Bancorp, Inc., a public holding company that trades on the New York Stock Exchange under the symbol GSB. Headquartered in San Francisco, with approximately $59 billion in assets, California Federal has 356 branches, more than 8,500 employees, and is the second-largest savings and loan in the United States. California Federal Bank provides a full range of banking services, including a variety of savings products and checking accounts, electronic banking, consumer loans, mortgage loans, business banking, and investment products.

About GTCR Golder Rauner, LLC, Genpass Inc., and Genpass Service Solutions

GTCR Golder Rauner, LLC, a leading private equity investment firm, owns and operates Genpass Inc. GTCR currently manages more than $4 billion in equity capital invested in companies providing transaction processing, information technology services, financial services and marketing services. Genpass Inc., with headquarters in Pennsylvania, owns the MoneyMaker(SM) and MONEY BELT(R) EFT networks through its Dallas-based subsidiary Genpass Technologies. The EFT Data Book (2002 Edition) lists Genpass Technologies as one of the top five ATM drivers in the U.S. with over 20,000 ATMs in all 50 states. Genpass processes over 270 million transactions annually. The company also operates Genpass ATM Solutions — providing a strategic solution to ATM-owning and placement — and Genpass Card Solutions, offering specialized card services such as payroll and medical benefits card programs. Genpass Service Solutions, a wholly owned subsidiary of Genpass Inc., is the largest independent ATM servicing company in the U.S. The company serves over 500 financial institutions, independent sales organizations, and corporate customers providing monitoring, service dispatch, maintenance, cash replenishment, and operating supplies for every model of ATM hardware.

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

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

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NextCard Bottoms

NextCard’s stock plunged another 16% yesterday hitting a new low of 26 cents per share before closing at 27 cents per share. One year ago the credit card issuer’s stock traded at $12.75 per share. The company has not released its 4Q/01 report but projected two months ago it would breakeven in the fourth quarter, as reduced revenues will likely be offset by reduced marketing and acquisition costs and lower operating expenses. NextCard reported a third quarter net loss of $53.1 million. NextCard announced in October a decision to explore opportunities for the sale of the Company to a larger and better-capitalized entity. The firm was hit with regulatory limitations following its prior treatment of certain losses. As a result, NextCard increased its reserves for loan losses, tightened its underwriting criteria to limit new account originations to FICO scores above 680, suspended originations of secured credit cards, and suspended or limited certain line management programs, re-pricing programs, and fee-based product strategies. NextCard ceased online marketing activities in November. For complete details on NextCard’s past performance visit CardData (). (CF Library 10/31/01; 11/5/01)

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BofA 4Q/01

Bank of America reported an 18.1% increase in credit card receivables during 2001, ending the year with $27.2 billion in managed card loans. Charge-offs have been relatively stable for the past two quarters, but jumped from 4.32% for 4Q/00 to 4.90% for 4Q/01. Fourth quarter charge volume was only up 6.1% over the prior year, a reflection of soft holiday spending. For all of 2001, BofA’s charge volume was up 7.7%. For complete details on Bank of America’s 4Q/01 performance visit CardData ([www.carddata.com][1]).

BANK OF AMERICA TRACK RECORD
4Q/00 3Q/01 4Q/01 Y/Y CHG
RECV: $27.2b $25.5b $23.0b +18.1%
Q VOL: $13.2b $12.3b $12.5b + 6.1%
ACCTS: 14.5m 14.7m 13.3m + 9.0%
ACTIVES: 9.8m 9.7m 8.7m +12.5%
CARDS: 22.8m 22.4m 20.3m +12.4%
Source: CardData (www.carddata.com)

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

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Smart Cards USA

Smart card applications in the U.S. are unfolding at a rapid pace since the first of this year. StatCard Entertainment unveiled a smart card this morning that combines action sports and interactive online entertainment, enabling users to load scores and other information on the card. Meanwhile, Netsmart Technologies launched a smart card system to manage drug rehabilitation programs in California. Last week, AutoSmart launched a smart card to hold maintenance records for new cars. The new ‘Smart Trading Cards’ by StatCard Entertainment will be available at 702 Toys “R” Us stores by the end of February. The smart card chip transports users to an exclusive interactive entertainment Web site, which can be accessed only with the ‘Smart Trading Card’. The cards are connected to computers via a ‘StatCard Reader’. Cardholders can also display point accumulations on a key chain-sized ‘StatCard Mini-Reader’ that scans the data from their cards. (CF Library 1/18/02)

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SCHLUMBER 4Q/01

Schlumberger Limited reported 2001 operating revenue of $13.7 billion, an
increase of 43%
over
2000 including the second quarter acquisition of Sema plc.
Income of $819 million, excluding exceptional items, was 11% higher than last
year with diluted earnings per share of $1.41 representing an 11% improvement
on 2000 results.
Diluted earnings per share, excluding acquisition related costs and
exceptional
items, were $1.98 compared with $1.44 in 2000.

FOURTH QUARTER 2001 RESULTS

Fourth quarter operating revenue of $3.6 billion was 33% above fourth quarter
2000. Excluding exceptional items of $5 million, net income was $179 million.
Diluted earnings per share, excluding acquisition-related costs and
exceptional
items, were $0.49 compared with $0.46 for the same period last year and $0.51
for the third quarter 2001.

Oilfield Services revenue increased 21% versus the fourth quarter of 2000. In
contrast to the worldwide M-I rig count, which decreased 8% over the same
period, revenue excluding WesternGeco, increased 14%, and was down 2% compared
to the third quarter of 2001. This compares favorably to the sequential
quarterly average rig count drop of 13%.

SchlumbergerSema posted sequential revenue improvement of 10% to $953 million
for the quarter with pretax operating income growing 12% to $21 million.
During the quarter, Schlumberger completed the replacement of its main bank
facilities, including the Sema bridge facility. The program consisted of
issuing bonds in Europe for a total of $1.9 billion, with maturities ranging
from 7 to 31 years as well as securing long-term commercial paper backstop
facilities totaling $4.6 billion in the USA and Europe.

Chairman and CEO Euan Baird commented:

“2001 proved to be a milestone year for Schlumberger with Oilfield Services
revenue and net income achieving all-time record levels. Schlumberger Network
Solutions grew by 91% due mostly to E&P sector contracts, a clear sign that
the
industry is recognizing the importance of IT global connectivity and
information security solutions to enhance business processes and
decision-making capabilities. Today, Schlumberger is the only company able to
provide a complete range of technology services from the reservoir to the
desktop or mobile device anywhere in the world.

“The integration of Sema into Schlumberger progressed well largely due to the
cultural similarities of the two companies. As a result, we expect to surpass
the cost synergies that we set out to achieve and foresee the continued
improvement in SchlumbergerSema profitability during the coming year.
“The focus provided by the Sema acquisition allowed us to accelerate our
divestiture program. The $900 million of cash generated by the sale of
businesses put us on track to attain our objective of reducing our
debt/capitalization ratio to 30% by 2003.

“Our business in 2002 depends heavily on the timing and strength of the
economic recovery in North America. We are still expecting the recovery to
happen mid-year but the current world political situation is sufficiently
unstable to make any predictions risky.”

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DIEBOLD EXEC

Diebold, Incorporated named John M. Deignan, managing director of the
Diebold Company of Canada, Ltd. Based in Toronto, Deignan will be responsible
for all sales, service and support activity for the company’s operation. He
will report directly to David Bucci, senior vice president, Customer Solutions
Group of Diebold North America.

“John’s experience with diverse markets such as Australia and New Zealand
will be a valuable asset as we continue our growth in Canada,” Bucci said.
“His knowledge will help us move forward and enhance our strong global
presence.”

Deignan joined Diebold in 1991 as an account manager in Chicago. Most
recently, he held the position of managing director of Diebold Australia and
New Zealand. Deignan received a bachelor’s degree in business economics from
Marquette University in Milwaukee and a master’s degree in international
business from Roosevelt University in Chicago. Deignan a native of Monroe,
Wis., will be relocating to Toronto shortly.

Diebold, Incorporated is a global leader in providing integrated self-
service delivery systems and services. Diebold employs more than 12,000
associates with representation in more than 80 countries worldwide and
headquarters in North Canton, Ohio, USA. Diebold reported revenue of
$1.7 billion in 2000 and is publicly traded on the New York Stock Exchange
under the symbol ‘DBD.’ For more information, visit the company’s Web site at
http://www.diebold.com .

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BIZSMART VISA

bizSmart’s business VISA card offers
entrepreneurs a low interest rate tied to CIBC prime with no annual fee.

Canadian small businesses can benefit from a rate as low as prime plus
1.5 per cent, according to Rob Paterson, president and CEO, bizSmart and
senior vice-president, CIBC small business banking.

“With CIBC’s prime rate at 3.75 per cent today, the interest rate for
bizSmart VISA cardholders is as low as 5.25 per cent,” says Paterson. “That
translates into huge savings for entrepreneurs who tend to use personal credit
cards for business expenses. They could shave off up to 12.75 per cent in
interest costs when they use our business VISA card compared to some personal
credit cards that carry rates of 18 per cent.”

The bizSmart Visa card offers one of the lowest costs of borrowing
available for small business and is specifically designed to meet the flexible
needs of small office/home office (SOHO) entrepreneurs. More than half of
bizSmart’s VISA customers benefit from rates of CIBC prime plus 2.5 per cent
to as low as prime plus 1.5 per cent. The credit card rate is determined by a
credit assessment of the applicant business and its owners.

SOHOs get the added advantage of being able to keep better records by
separating their business and personal affairs with the bizSmart business Visa
card. Credit can be approved within seconds of completing the application.

“We’ve created a total value package for SOHOs,” adds Paterson. “Every
entrepreneur who has our Visa card also benefits from preferred discounts and
offers from leading Canadian companies like STAPLES Business Depot, and gets
access to our Knowledge Centre with Canada’s largest online source of
entrepreneurial management information.”

The application process for the bizSmart VISA card is simple and quick
and can be done over the phone, via computer at
http://www.bizsmart.com, or at select
locations of STAPLES Business Depot in five provinces across Canada.

bizSmart

bizSmart, a unique offer of essential services designed to save Canadian
small business owners and entrepreneurs time and money, is provided by CIBC
along with STAPLES Business Depot and leading Canadian companies. bizSmart
services are accessible through the Internet at
http://www.bizsmart.com, by
telephone, at CIBC bank machines and at bizSmart Centres located in select
STAPLES Business Depot stores. bizSmart Financial Services are provided by
CIBC, one of North America’s leading financial institutions with more than
eight million personal banking and business customers.

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