Nordea announced it is acquiring Postgirot Bank for SEK 4.1 billion (EUR
440 million). As a result, Nordea will expand its customer base in Sweden
through Postgirot Bank’s 1.3 million customers, who will be offered
Nordea’s full range of financial services. Postgirot Bank holds a
significant position in the Swedish payment market. During the year 2000
Postgirot Bank’s average
deposits totalled EUR 3.8 billion and average customer loans totalled
EUR 1.2 billion. Postgirot Bank’s total assets amounted to EUR 7.7 billion
at the end of 2000.

— Nordea acquires Postgirot Bank in Sweden and strengthens its
competitiveness in important growth areas, such as payments and cash management

— Nordea expands its customer base in Sweden through Postgirot Bank’s 1.3
million customers, who will be offered Nordea’s full range of financial

— Nordea’s and Postgirot Bank’s products and services complement each
other, thereby strengthening Nordea’s position in the Nordic region

— The customers of Nordea and Postgirot Bank will get improved payment
services and a very broad range of qualified banking services

— The purchase price amounts to SEK 4.1 billion (EUR 440 million)

Expanding in a growth area

The market for payments is rapidly growing and changing by means of
the introduction of new techniques and payment systems. Efficient cash
management solutions are becoming increasingly important to Nordea’s
customers. Postgirot Bank holds a significant position in the Swedish
payment market and through the acquisition Nordea will improve its
position. The acquisition has three main attractions:
— Strengthened competitiveness in domestic payments.
Postgirot Bank is an important supplier of high-quality
paper-based and electronic payment services in Sweden (see
enclosed facts). Postgirot Bank has successfully developed
a number of electronic services, the quality of which is
very high, even in an international context. The company’s
systems and customer relations with a large number of
Swedish companies are important for creating an efficient
payment system. Combining the competencies of Nordea’s
e-services in Solo and Postgirot Bank will create better,
faster and more efficient payment services for the
customers, especially in the cash management area.
— Increased business volumes. The acquisition provides
excellent opportunities for cross-selling to Postgirot
Bank’s 1.3 million customers, of whom approximately 70% is
not Nordea customers today. The customers will be offered
a broad range of high-quality financial products and
services, and this is expected to generate additional
business volume, for instance through increased loans and
deposits. During the year 2000 Postgirot Bank’s average
deposits totalled EUR 3.8 billion and average customer
loans totalled EUR 1.2 billion. Postgirot Bank’s total
assets amounted to EUR 7.7 billion at the end of 2000.
— Strengthened competitiveness in international payments.
Postgirot Bank has a well-developed system for
international payment transfers, for instance through its
cooperation with the postal giro systems in other European
countries. Together, Nordea and Postgirot Bank can offer
their customers additional channels for payments. As a
result of the acquisition, payments from Nordea’s
customers in the other Nordic countries to all major
companies in Sweden can be effected faster.

“The acquisition of Postgirot Bank is an excellent growth opportunity
that will further strengthen our position as the leading financial services
group in the Nordic and Baltic Sea area. Customers will get better and
faster service on payments. Furthermore, we ensure that Swedish customers
will continue to benefit from alternative solutions for their payments,”
says Thorleif Krarup, Group CEO of Nordea.

Postgirot Bank will form part of the largest Nordic financial
institution with significant resources for further development of products
and services.

“Postgirot Bank, Nordea and all our customers are all winners. I am
very pleased that it is Nordea that has chosen to acquire Postgirot Bank.
We complement each other well, and this will mean benefits for Postgirot
Bank’s and Nordea’s customers,” says Postgirot Bank’s CEO Per-Eric Skotthag.

Financial effects

The acquisition is made at a cash price of SEK 4.1 billion (EUR 440
million) plus the net profit generated from 1 January 2001 up until
completion of the transaction. The goodwill arising as a result of the
acquisition is estimated at approximately EUR 215 million, including
restructuring costs of some EUR 20 million, to be amortised over ten years.
The annual net synergies from the acquisition are estimated at EUR 20
million after three years. The cost synergies have been calculated at EUR
30 million. The revenue synergies, including both cross-selling gains and
potential revenue losses, are calculated to be negative based on a
conservative estimate. Already in the first year, the acquisition is
expected to have a positive impact on earnings per share, after goodwill
amortisation. The effect of the transaction on Nordea’s Tier 1 capital
ratio is marginal, some 0.2 percentage points.

The acquisition, which will formally be made by Nordbanken AB, is
subject to approval by the Swedish Financial Supervisory Authority and the
EU Commission. Closing is expected in 2-6 months, depending on necessary

Facts about Postgirot Bank

Postgirot Bank has conducted payment activities since 1925. Its
banking business started on March 1, 1994 in connection with the conversion
of Posten into a public limited company.

Services offered include domestic inpayment (collection) and domestic
outpayment products (invoice), cash pools for corporate cash management,
electronic invoicing and international payments. Postgirot Bank also offers
other products, such as card-based payments products, and has developed
several e-services such as ePostgiro, eFaktura and eKop.
Postgirot Bank provides basic banking services, including deposits
and overdrafts and short-term money market loans. Postgirot Bank has no
branches for teller services, but is offering this service through the
Swedish Post.

Postgirot Bank’s primary business is based in Stockholm. Furthermore,
production takes place in Tierp, Norrkoping and Malmo. Customer service and
call centre functions are in Eskilstuna. The sales staff are located in
around 20 cities in Sweden.

Postgirot Bank has 450,000 corporate customers and 850,000 personal



ActivCard S.A., a world-leading enabler of
digital identity for network computing, reported that net revenue for
the quarter ended June 30, 2001 increased 121% to a record $8.5 million from
$3.9 million in the second quarter of 2000.

Net loss for the quarter ended June 30, 2001, including non-recurring
charges, was $2.7 million, or $0.07 per diluted share, compared to net income
of $902,000, or $0.02 per diluted share, in the comparable period of 2000.
“We are pleased with our strong year-over-year growth, which continues to
be ActivCard’s primary focus,” commented Jean-Gerard Galvez, Chairman and
Chief Executive Officer. “Despite current economic conditions, we achieved
our top line goal and executed in accordance with plan. During the quarter,
we expanded our initial agreement with the Defense Manpower Data Center
(“DMDC”), licensing additional features and functionalities related to card
issuance capabilities. Leveraging this strategic win within the Department of
Defense (“DOD”), we entered into agreements with three departments during the
quarter. These departments are deploying ActivCard Gold, our market leading
Common Access Card (“CAC”) compliant client software. We continue to pursue
other significant global opportunities for large scale deployment of
government and enterprise identification cards and commercial and consumer
banking cards.”

During the quarter, ActivCard announced its collaboration with Precise
Biometrics to deliver the world’s first Open Platform-based, Match-On-Card
biometric authentication. The new solution integrates ActivCard’s digital
identification technology with Precise Biometrics’ fingerprint identification
technology, creating a highly secure platform ideal for companies seeking a
multi-factor authentication solution.

On July 5th, the Company announced the completion of its acquisition of
Safe Data System, a developer of user authentication software based in
Montpellier, France. The acquisition of Safe Data will enhance ActivCard’s
expertise in Microsoft and Checkpoint technologies and will bring additional
features to ActivCard’s packaged authentication server solution.
“Global corporations and government agencies continue to migrate to
digital identification provisioning solutions to provide increased security,
operational efficiency and compelling return-on-investment,” stated Blair
Geddes, Chief Financial Officer. “Over the past few months, ActivCard has
expanded its strategic position within the digital identification market
through partnerships and acquisition. Our actions this quarter complement our
strategy of collaboration and solution interoperability with large network
computing and communications companies such as Hewlett Packard, Microsoft,
Novell, and Sun Microsystems. ActivCard has positioned itself to capitalize
on the growing opportunity as the market for digital identity solutions

The search for a new Chief Executive Officer continues to progress. The
Company expects to announce the hiring of a new Chief Executive Officer within
the next few months. In the meantime, the executive management team will
continue to ably manage the day-to-day operations of the Company.
For the six-month period ended June 30, 2001, ActivCard reported revenue
of $15.6 million, compared to $7.0 million in the six-month period ended June
30, 2000. Net loss for the first six months of 2001 was $3.0 million, or
$0.08 per diluted share, compared to net income of $3.6 million or $0.09 per
diluted share, in the comparable prior year period. Pro forma net loss for
the first half of 2001, excluding non-recurring items and net foreign currency
transaction gains, was $2.7 million, or $0.07 per diluted share, compared to a
net loss of $1.6 million, or $0.04 per diluted share, in the first half of

Third Quarter and Fiscal 2001 Outlook
For the third quarter, 2001, the Company anticipates continued sequential
growth with revenues ranging between $10.0 million and $11.0 million.
ActivCard’s objective for the full year 2001 continues to be revenue growth of
100% to 120% from fiscal 2000.

About ActivCard

ActivCard, a leader in digital identity and electronic certification
technology, delivers core components required to enable next generation
e-Business communication and transactions. The ActivCard technology suite
offers the ease-of-use of an ATM transaction with a security level better than
face-to-face meeting. ActivCard solutions, in conjunction with the
applications support for public key based data confidentiality and integrity,
allow individuals and businesses to perform secure online transactions over
the Internet. Today, more than 2 million people use ActivCard products for
secure Internet banking, Web access and remote access to corporate networks.
ActivCard is headquartered in Fremont, California, with worldwide operations
in France, Germany, Japan, Sweden, Singapore and United Kingdom.


$1 Smart Cards

Eliminating the pricing gap between mag stripe and smart cards, VISA International announced this morning a deal to provide issuers with EMV-compliant smart cards that cost less than one U.S. dollar. For U.S credit card issuers, the development is the most significant to-date, and opens the way for VISA issuers, regardless of size, to migrate quickly to smart cards. The new $1 smart cards, developed in partnership with IBM, will be the first in a family of low cost products from STMicroelectronics. The new sub-one dollar smart card will be manufactured by Orga, although other manufacturers are currently negotiating with VISA to join the program. Last September, VISA introduced a multi-application ‘Open Platform card’ costing less than three U.S. dollars and, in May, announced two new ‘Open Platform’ card products, one with enhanced data authentication capability for less than four U.S. dollars and one with a contact/contactless dual interface capability for less than five U.S. dollars. Five card vendors offer multi-application smart cards under three dollars, including Giesecke & Devrient, Orga, Dai Nippon, Oberthur, and Schlumberger. The low-cost enhanced and dual interface smart cards are produced by Giesecke & Devrient and Orga. (CF Library 9/12/00; 5/17/01)



QUALCOMM Incorporated, pioneer and world leader of Code Division
Multiple Access digital wireless technology, announced an agreement with
Gemplus Corp., a world-leading provider of smart card-based solutions, to
roll out hardware and software system solutions to ensure that cdmaOne and
CDMA2000 1x handset manufacturers can support complete removable user
identity module capabilities designed around the Gemplus GemXplore WORLD

Targeted for the QUALCOMM CDMA Technologies (QCT) Mobile Station
Modem (MSM(TM)) family of cdmaOne and CDMA2000 1x integrated circuits,
including the MSM5105(TM), MSM5100(TM), MSM5500(TM) integrated circuits and
subsequent MSM6xxx CDMA2000 1x integrated circuits, the Gemplus R-UIM
solution will support roaming services and value-added service capabilities
across cdmaOne and CDMA2000 1x and Global System for Mobile Communications
(GSM) networks. Ensuring qualification for functionality and
interoperability based on the IS-820 CDMA SIM card standard, QCT’s R-UIM
solutions can be rolled out to interoperate around Gemplus’s R-UIM smart
card products and will enable operators to launch a suite of Subscriber
Identity Module (SIM) card-based, value-added services and roaming
capabilities to their subscribers. This system offering provides cdmaOne
and CDMA2000 1x handset manufacturers with a comprehensive solution that
allows a subscriber’s identity to be stored in a single removable card — a
capability that is mandatory for the Chinese wireless market — making
global roaming to countries using different frequencies or across CDMA or
GSM networks easier by allowing subscribers to exchange handsets while
using the same card to maintain all of their personal information,
including network settings, privileges, preferences, phone books and more.
“Rolling out qualified R-UIM system solutions for Gemplus R-UIM smart
cards on our MSM products will significantly accelerate the development of
R-UIM-enabled handsets by manufacturers requiring flexibility in their
smart card-based products,” said Luis Pineda, vice president of product
management for QUALCOMM CDMA Technologies. “As CDMA2000 1x networks are
deployed worldwide, especially across Asia, operators can now put into
place agreements and services to allow R-UIM roaming of their subscribers
across CDMA and GSM networks.”

“Collaborating with QUALCOMM, the driving force on cdmaOne and
CDMA2000 1x system solutions, will allow Gemplus to extend its smart card
solutions for handset manufacturers and operators to a wider subscriber
base as CDMA accelerates its deployment across Asia,” said Gary Wang,
managing director for Gemplus CDMA business. “We look forward to working
together with handset manufacturers and operators to deliver these complete
system solutions around Gemplus’ GemXplore WORLD smart cards and QUALCOMM’s
MSM integrated circuits.”

GEMPLUS: the world’s number one provider of solutions empowered by
Smart Cards (Gartner Dataquest 2001). 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(R) as GEMP in the form of ADSs. Its revenue in 2000 was
1.205 Billion Euros. It employs more than 7000 people throughout the world.
Gemplus: Your Passport to the Digital Age(TM), .
QCT, a division of QUALCOMM Incorporated, is a developer and supplier
of CDMA integrated circuits, hardware and software solutions, and tools,
with 163 million cumulative shipments of MSM chips worldwide. QCT offers
wireless position location technology by SnapTrack(TM), a wholly owned
subsidiary of QUALCOMM. QCT supplies chipsets to the world’s leading CDMA
handset and infrastructure manufacturers including: Acer Peripherals, Inc.,
Hitachi, Ltd.; Hyundai Electronics Industries Co., Ltd.; KYOCERA
CORPORATION; LG Information and Communications, Ltd.; Samsung Electronics
Ltd.; SANYO Electric Co., Ltd.; and Toshiba Corporation, among others.
QUALCOMM Incorporated ( ) is a leader in developing
and delivering innovative digital wireless communications products and
services based on the Company’s CDMA digital technology. The Company’s
business areas include CDMA integrated circuits and system software;
technology licensing; the Binary Runtime Environment for Wireless(TM)
(BREW(TM)) applications platform; Eudora(R) e-mail software; digital cinema
systems; and satellite-based systems including portions of the
Globalstar(TM) system and wireless fleet management systems, OmniTRACS(R)
and OmniExpress(TM). QUALCOMM owns patents that are essential to all of the
CDMA wireless telecommunications standards that have been adopted or
proposed for adoption by standards-setting bodies worldwide. QUALCOMM has
licensed its essential CDMA patent portfolio to more than 100
telecommunications equipment manufacturers worldwide. Headquartered in San
Diego, Calif., QUALCOMM is included in the S&P 500 QCT to Collaborate with
Gemplus for R-UIM-Enabled CDMA Solutions Page 5 of 5 Index and is a 2001
FORTUNE 500(R) company traded on The Nasdaq Stock Market(R) under the
ticker symbol QCOM.


Euronet 2Q/01

Euronet Services reported Monday revenues of $15.94 million for the second quarter and EBITDA of $496,000. The operating loss was reduced from $6.29 million in the second quarter 2000 to $1.63 million in the second quarter 2001. The Network Services Division posted second-quarter revenue of $11.79 million, up 32% over revenues of $8.95 million for the same period of 2000. The Company’s ATM, POS, debit card, switching and transaction management software revenues increased by 5%, to $4.15 million in second quarter 2001 from $3.97 million in second quarter 2000. The number of ATMs owned or operated by Euronet Worldwide increased by 14% over second quarter 2000 from 2,518 ATMs to 2,863 ATMs at the end of this quarter. Quarterly transactions on the network increased by 29%, from 12.92 million in second quarter 2000 to 16.70 million in the second quarter 2001. Euronet owns and/or operates ATMs in Hungary, Poland, Germany, Croatia, the Czech Republic, France, the U.K., Greece, Egypt and the U.S. For complete details on Euronet;s 2Q/01 performance visit CardData ([][1]) and for Euronet news visit The RAM Report ([][2]).




Euronet Services Inc., a leading provider of secure electronic financial
transaction solutions, announced revenues of $15.94 million for the second
quarter of 2001, an increase of 23% over second-quarter 2000 revenues of
$12.92 million.

Euronet’s second-quarter revenues also represent an increase of 8%,
or $1.12 million, over first-quarter 2001 revenues of $14.82 million.
Earnings before interest, tax, depreciation and amortization (EBITDA)
improved by more than $4 million from negative $3.59 million in the second
quarter 2000 to positive $496,000 for the second quarter 2001. The Company
also showed improvement in its operating results. The operating loss was
reduced from $6.29 million in the second quarter 2000 to $1.63 million in
the second quarter 2001.

Euronet’s revenues, EBITDA and operating results exceeded analyst
expectations for the second quarter 2001. “We have passed a major milestone
in achieving EBITDA-positive results this quarter,” said Michael J. Brown,
Euronet’s Chairman and CEO. “We are now totally focused on our next goals,
which are to become cash flow positive and profitable.”

The Network Services Division posted a strong performance with
second-quarter revenue of $11.79 million, up 32% over revenues of $8.95
million for the same period of 2000. This revenue represents a 9% increase
over first-quarter 2001 revenues of $10.85 million and is the 25th
consecutive quarter of revenue growth for this division.

The Company’s ATM, POS, debit card, switching and transaction
management software (ITM) continues to be the preferred EFT solution for
the IBM AS/400 platform worldwide. Software Division revenues increased by
5% to $4.15 million in second
quarter 2001 from $3.97 million in second quarter 2000. This division’s
revenues also increased 4% compared to first- quarter 2001 revenues of
$3.98 million.

“The second quarter 2001 was positive for Euronet in several
respects,” said Kendall Coyne, Euronet Chief Financial Officer. “The steady
increase in recurring revenue from transactions combined with EBITDA
improvements has established a strong financial foundation. At the same
time, we have been able to improve our balance sheet by reducing notes and
other long-term liabilities by more than $20 million since the beginning of
this year, to $56.49 million at June 30, 2001, from $77.19 million at
December 31, 2000, through exchanges of 12 3/8% senior discount notes for
stock. To date, we have drawn down $2 million of the $4 million credit
facility provided by certain shareholders.”

The number of ATMs owned or operated by Euronet Worldwide increased
by 14% over second quarter 2000 from 2,518 ATMs to 2,863 ATMs at the end of
this quarter. Quarterly transactions on the network increased by 29%, from
12.92 million in second quarter 2000 to 16.70 million in the second quarter
2001. Euronet owns and/or operates ATMs in Hungary, Poland, Germany,
Croatia, the Czech Republic, France, the U.K., Greece, Egypt and the U.S.


The following are highlights of business developments at Euronet

Worldwide during the second quarter:

— Euronet gains LINK certification to drive Euronet ATMs in U.K.

— Euronet provides debit card outsourcing to Poland’s newest internet bank, Inteligo, and Deutsche Bank 24 Poland

— Euronet implements mobile banking solution for Arab Bank — Egypt

— Euronet’s first ATM in Egypt goes live

— Seylan Bank (Sri Lanka) launches Euronet Integrated Credit Card System

— Euronet implemented Internet Banking for GiroBank (Curacao), Seylan Bank Ltd (Sri Lanka), Banco de Oro (Philippines) and Bank of Cyprus (Greece)

— Euronet implemented Telephone Banking for ABN Amro Bank N. Antilles (Curacao), Westpac Banking Corporation (Fiji), Bank of South Pacific Limited (Papua New Guinea)

About Euronet Worldwide

Euronet Worldwide is an industry leader in providing secure
electronic financial transaction solutions. The company offers financial
payment middleware, financial network gateways, outsourcing and consulting
services to financial institutions and mobile operators. These solutions
enable their customers to access personal financial information and perform
secure financial transactions — any time, any place. The company has
processing centers located in the United States, Europe and Asia, including
owning and operating the largest independent ATM network in Europe. Euronet
was recently ranked number two on the Deloitte & Touche Technical Fast 500,
a ranking of the fastest-growing technology companies in North America.
With corporate headquarters in Leawood, Kansas, U.S.A., and European
headquarters in Budapest, Hungary, Euronet serves more than 200 clients in
60 countries. Visit our web site at


NextCard Turndowns

NextCard has sealed a deal with CompuCredit to offer a sub-prime, co-branded VISA credit card to the 40% of NextCard applicants that fail to qualify for NextCard’s prime or secured card products. Under terms of the deal, CompuCredit will manage the customer relationship and NextCard will receive a per-customer payment for each co-branded account. NextCard’s approval rate for its prime card is about 15%. The new sub-prime, co-branded VISA will carry substantially higher interest rates and lower credit limits than NextCard’s current product suite. Both issuers are among the industry’s fastest growing issuers and pioneers in separate market segments. CompuCredit added 167,000 new cardholders or 44,000 net new accounts for 2Q/01. The sub-prime specialist has approximately 2.2 million accounts. Internet pioneer NextCard passed the one million account mark during June, adding 135,000 net new accounts during the second quarter according to CardData ([][1]). (CF Library 6/27/01; 7/20/01; 7/26/01)




Yahoo! Inc., a leading global Internet communications, commerce and media
company, and HSBC Holdings plc one of the world’s largest banking and
financial services organizations, announced a strategic relationship.
The two companies plan to deliver a co-branded, person-to-person
payments system called Yahoo!(R) PayDirect with HSBC, to Yahoo! consumers
and HSBC customers around the world. The co-branded product is expected to
launch later this year. Additionally, HSBC will mount a comprehensive
online and offline marketing program to make their products and services
available to Yahoo!’s 200 million consumers. Yahoo! will similarly market
its services to HSBC’s 28 million customers. Financial terms of the
agreement were not disclosed.

Through this agreement with HSBC, Yahoo! PayDirect
() will allow consumers to send and receive
money, at home and overseas, via email by linking their credit cards, debit
cards or bank accounts to their secure Yahoo! PayDirect account at HSBC.
Consumers will be able to sign up for, and use, Yahoo! PayDirect across
HSBC’s online services and the Yahoo! network. It means Yahoo! and HSBC are
removing the barriers to online commerce transactions for the companies’
loyal consumers around the world. It will also be possible to use Yahoo!
PayDirect to electronically send money as a gift to family and friends, to
collect contributions to group or charity events, and to pay for shopping
and auctions purchases. The service adds to the features that make online
commerce fast and easy, and gives buyers and sellers an additional option
for settling the payment process.

Subject to certain regulatory approvals, Yahoo! PayDirect with HSBC
will commence later this year starting in the United States. Thereafter,
and throughout 2002, the service will be extended to other countries and
territories in which HSBC and Yahoo! operate. Existing users of Yahoo!
PayDirect will be able to continue the service and maintain their accounts
with HSBC.

Yahoo! and HSBC also aim to make the Yahoo! PayDirect technology
available to other companies to enable commerce and person-to-person
payment capabilities.

“We are delighted to be working with Yahoo!, the Internet’s leading
global consumer and business services company with the largest and most
engaged Internet audience in the world,” said Roberta Arena, HSBC’s head of
Global e-Business. “The evolution of payments is a critical component of
e-commerce and essential for the industry to meet its promise. This
partnership is a natural, as we share a global footprint and a proven
commitment to first class customer service. Complementing HSBC’s expertise
in global online payments are Yahoo!’s strong core assets including its
established presence in 24 countries, unsurpassed brand name, and active

“With this agreement, HSBC becomes our global financial partner,
helping ready us for our next phase of growth and further extending
Yahoo!’s leading financial and commerce services,” said Greg Coleman,
executive vice president, North American operations, Yahoo!. “We are
thrilled to be working with HSBC to enable more consumers on a worldwide
basis to transact on the web.”

About HSBC

Headquartered in London with assets of US$674 billion as of December
31, 2000, HSBC serves more than 28 million customers through its
international network of more than 6,500 offices in 79 countries and
territories. Through a global network linked by advanced technology, HSBC
provides a comprehensive range of financial services.

About Yahoo!

Yahoo! Inc. is a leading global Internet communications, commerce and
media company that offers a comprehensive branded network of services to
more than 200 million individuals each month worldwide. As the first online
navigational guide to the Web, is the leading guide in terms
of traffic, advertising, household and business user reach. Yahoo! is the
No. 1 Internet brand globally and reaches the largest audience worldwide.
The company also provides online business and enterprise services designed
to enhance the productivity and Web presence of Yahoo!’s clients. These
services include Corporate Yahoo!, a popular customized enterprise portal
solution; audio and video streaming; store hosting and management; and Web
site tools and services. The company’s global Web network includes 24 World
properties. Yahoo! has offices in Europe, Asia, Latin America, Australia,
Canada and the United States, and is headquartered in Sunnyvale, Calif.


Prime Hotel Data

Business travelers who use Visa commercial payment products when staying at Prime Hospitality hotels can now give their travel managers more than just a handful of receipts.

Visa U.S.A. and Prime Hospitality announced Monday a partnership that will streamline the process of business travel expense reporting by providing enhanced hotel folio data on all Visa commercial payment transactions. Prime Hospitality is the first hotel company working with Visa U.S.A. to provide this additional service for business travelers at more than 200 hotels under the AmeriSuites and Wellesley Inns & Suites brands. Utilizing Property Management Systems and Centralized Services provided by Multi-Systems, Inc., a leading supplier of technology for the hospitality industry, the folio data is extracted from a central data warehouse and delivered to Visa in an XML format. JPMorgan Chase, a Visa commercial payment card issuer, will be the first Member bank to provide this service to corporate clients. Enhanced folio data includes such detailed transaction information as room rates, telephone charges, total tax, and other items typically included in a folio invoice. “Demonstrating again that Visa is the best way to pay, our partnership with Prime Hospitality saves the business travel manager two things they highly value – time and money,” said Michael L. Dreyer, Senior Vice President, Commercial Solutions, Visa U.S.A. “The enhanced information we’re able to provide helps companies to more efficiently manage and track expenses while delivering real bottom line benefits to travel and entertainment budgets.”

Business travelers paying with Visa commercial payment products will experience the familiar process of hotel checkout, as nothing changes during the typical hotel transaction on the business trip. However, itemized expenses incurred during the hotel stay can now be passed electronically to the issuing financial institution, which then will pass the data to their corporate clients, ultimately resulting in substantial benefits for travelers and travel managers alike.

“At Prime Hospitality travel properties, we are focused on the quality and comfort of our business travelers’ entire travel experience,” said Jack McHugh, Vice President of Sales for Prime Hospitality. “We understand what it takes to earn our customers’ business day in and out by bringing new value added propositions to the equation. Partnering with Visa enables us to provide another value added benefit to one of our most important customer groups.”

Using the strength of Visa’s proprietary payment network, VisaNet, JPMorgan Chase will provide the enhanced folio data to their corporate clients and Visa commercial products users. This enhanced data can easily integrate with company accounting software, allowing travel managers to more accurately distribute costs to specific accounts and streamline the expense reporting process. Additionally, travel managers can use the enhanced data to increase controls regarding travel policy compliance and enhance vendor relations. “At JPMorgan Chase, we are very excited to be working with Visa U.S.A. and Prime Hospitality to address this longtime need in the business travel marketplace,” said Gene Ryzewicz, Senior Vice President of JPMorgan Chase Commercial Payment Solutions. “By adding enhanced folio data to our PaymentNet online reporting system, we continue to lead the commercial card industry in offering vital information to travel managers and corporate travelers.”

According to a recent survey of members of the National Business Travelers Association (NBTA), hotel folio data is a high informational priority for corporate travel managers. In fact, more than half of those travel managers surveyed said they would even consider changing lodging partners in order to receive the information.

About Prime Hospitality

Prime Hospitality Corp., (NYSE:PDQ), one of the nation’s premiere lodging companies, owns, manages, develops and franchises approximately 235 hotels throughout the United States. The Company operates two proprietary brands, AmeriSuites(R) (all-suites) and Wellesley Inns & Suites(R) (limited-service). Also within Prime’s portfolio are owned and/or managed hotels operated under franchise agreements with national hotels chains including Hilton, Radisson, Sheraton, Holiday Inn and Ramada. Prime can be accessed via the Internet at: [][1].

About JPMorgan Chase

J.P. Morgan Chase & Co. is a leading global financial services firm with assets of $713 billion and operations in more than 50 countries. The firm is a leader in investment banking, asset management, private equity, custody and transaction services, retail and middle market financial services, and e-finance. Headquartered in New York, JPMorgan Chase serves more than 30 million consumer customers and the world’s most prominent corporate, institutional and government clients. The JPMorgan Chase Commercial Card Group offers customized Purchasing Card, Corporate T&E and Fleet Card, and integrated functionality One Card programs.

About Visa U.S.A.

Visa is the world’s leading payment brand and largest consumer payment system, enabling banks to provide their consumer and merchant customers with the best way to pay and be paid. More than 14,000 U.S. financial institutions rely on Visa’s processing system, VisaNet, to facilitate over $810 billion in annual transaction volume – including more than half of all Internet payments – with virtually 100 percent reliability. U.S. consumers carry more than 353 million Visa-branded smart, credit, commercial, stored value and check cards, accepted at approximately 22 million locations worldwide. Visa has long led the industry in developing payment security standards, and has been named the most trusted payment brand online. Visa’s people, partnerships, brand and payment technology are helping to create universal commerce – the ability to safely conduct transactions anytime, anywhere and by any device. Please visit [][2] for additional information.




Cartao Unibanco, the credit card subsidiary of Unibanco, the fourth-largest
private bank in Brazil, has successfully implemented Capstone Decision
Manager from HNC Software Inc., a leading provider of Customer Insight

By successfully installing the Capstone decisioning platform, Cartao
Unibanco is able to offer its customers instant online or over-the-phone
credit and debit card approvals.

“Capstone Decision Manager has revolutionized our payment card
approval processing abilities, and we look forward to expanding the
technology to other areas of our bank, to our other branch offices across
the globe, and to our insurance group,” said Carlos Zanvettor, Cartao
Unibanco’s chief information officer. “With Capstone successfully
implemented as our cornerstone decisioning platform, we’re empowered to
cross-sell products to our existing customer base and positioned to
aggressively acquire new customers.”

Designed with a scalable, high-performance architecture capable of
processing most applications in seconds, Capstone Decision Manager allows
for the comprehensive definition of rules, policies, and decision flow and
can incorporate predictive software and traditional scorecards to automate
as much of the decision process as desired. By automating the entire
decisioning process and managing the workflow for processing applications,
Capstone Decision Manager enhances underwriting efficiency, accuracy, and

Capstone enables lenders to:

— Decision a large volume of applications quickly and automatically

— Manage new account risk effectively

— Quickly and easily augment decision criteria

— Employ a single system to support the entire new account decision process

In addition to HNC’s Capstone, Cartao Unibanco has successfully
reduced credit card fraud losses by more than 75 percent through its use of
HNC’s Falcon(TM), the world’s leading payment card fraud detection system.
“Unibanco’s use of advanced customer analytical solutions uniquely
positions the bank for rapid growth in their increasingly competitive
market,” said Enrique Carrillo, director of relationship management for HNC

Unibanco’s successful implementation of Capstone Decision Manager is
a first for HNC in Latin America. Furthermore, Unibanco’s installation of
both Capstone and Falcon illustrates HNC’s success in delivering multiple
customer insight solutions to its existing customer base.

About Unibanco

With more than 3.5 million active credit card account holders, Cartao
Unibanco is the leader in issuing co-branded credit cards in Brazil and is
the third-largest credit card issuer in the country. Headquartered in Sao
Paulo, Unibanco — Uniao de Bancos Brasileiros — is the largest credit
card conglomerate in Latin America, boasting more than 1,000 branches
throughout Brazil. In addition to complete ownership of Cartao Unibanco,
Unibanco owns major stakes in Credicard, Redecard, and Fininvest. Besides
its traditional retail and commercial banking services, the bank offers
money management services and import/export credit lines. Outside Brazil,
the bank serves customers through offices in the Bahamas, the Cayman
Islands, Luxembourg, Paraguay, the U.K., Uruguay, and the United States.

About HNC Software Inc.

HNC Software is a leading provider of Customer Insight solutions
including intelligent response, decision management, and customer analytics
software that enables companies in the financial, telecommunications,
e-commerce and insurance industries to acquire, manage and retain
customers. For more information, visit or contact Rob Jensen at


CardinalCommerce VPA

CardinalCommerce Corporation, the architects of the universal secure transaction platform, has been named by Visa U.S.A., the world’s largest consumer payments system, as one of the vendors supporting Visa Payer Authentication, based on the Visa 3-D Secure interoperability standard. Visa Payer Authentication, part of Visa’s Secure Commerce Program, is designed to provide a safer environment for consumers and merchants conducting electronic commerce. CardinalCommerce projects the cost of fraud from online transactions to be $60 billion per year, by 2004, and is a significant obstacle to the growth of Internet commerce. This holds true both for consumers who lack confidence in the security of their personal financial information and for merchants who absorb the high cost of fraudulent transactions.

“We are honored that Visa has recognized us as a partner in helping Payer Authentication become a reality,” stated Michael A. Keresman, III, the CEO of CardinalCommerce. “Together, with Visa, we have a solution that both merchants and consumers can easily use. Our platform works with multiple authentication technologies, and guarantees the safety of transactions in all distribution channels.

“CardinalCommerce’s secure transaction platform offers an effective option to Visa’s Member banks that are implementing the Visa Payer Authentication Service,” said Jim McCarthy, senior vice president at e-Visa, a division of Visa U.S.A. “Visa is working with several technology partners like CardinalCommerce to help banks and e-Merchants better secure cardholder information online, giving consumers a better online experience and merchants increased sales volume.”

Unique among authentication technology products, CardinalCommerce’s system centralizes the authentication point for both the issuer and consumer. The universal platform interfaces with the top e-merchants on one side of the transaction process and with all card association networks on the other side. Notes Keresman, “What we have developed enables consumers to go to one central point electronically, authenticate themselves, and then continue on with e-commerce, medical records transfer, on-line voting, etc. The platform can be deployed in the face-to-face world as well, enabling the consumer to leverage one device for all their transactions.”

About CardinalCommerce Corporation:

CardinalCommerce Corporation has developed an authentication system to ensure that individuals, businesses and government agencies can process electronic transactions and access confidential information safely, securely and privately. CardinalCommerce’s system is technology neutral in that it can read multiple authentication technologies such as smartcards, digital certificates, biometrics and many others. Founded in February 1999, CardinalCommerce has raised $6 million in investment capital. For information on credit card fraud, statistics and other industry data or to learn more about CardinalCommerce and their technology visit their website at



Avolent, Inc., the leading provider of enterprise electronic bill/invoice
presentment and payment (EBPP/EIPP) software, announced that Avolent’s
BizCast(TM) software suite has been selected by Bluem BV, a Dutch-based
application service provider (ASP), to serve as the basis for its Internet
billing and customer care offering. Leveraging Avolent’s software, Bluem
will provide “turn-key” hosted solutions to deliver immediate, quality
e-billing and e-care services to medium and large-sized billers in Europe.
The agreement strengthens Avolent’s presence in Europe and expands the
company’s global customer base.

“EBPP is a logical step forward as the Internet will change the way
many businesses view billing and customer self-care,” said Bluem’s chief
executive officer Ko Brink. “We set out to select the best, end-to-end,
standards-based, data-centric EBPP package available. After a comprehensive
review of available solutions, we felt Avolent offered the most open,
standards-based and scalable solution for billing, payment, online account
management and customer self-care. The company’s demonstrated leadership,
vision and product excellence made Avolent the obvious choice.”
Bluem will use BizCast to deploy a superior and competitive Internet
billing service for mid-to-large size European billers in several markets,
including utility, credit card, telecommunications and public services.
With Internet connectivity close to 50% in the Netherlands and climbing
also fast in other European countries, it is expected that a large part of
recurring bills and business invoices will be presented and paid
electronically within 3 to 5 years. According to the analyst group Ovum,
there will be at least 6 billion bills and business invoices presented
electronically in Europe by 2005.

“Avolent’s technology enables companies to turn a bill or invoice
into an opportunity to provide customer care and after-sales service,” said
Michael Lynch, Avolent’s vice president of European Operations. “Bluem
recognizes that for many organizations the electronic bill is key in
attracting and retaining high value customers. Choosing Avolent’s proven
technology provides Bluem a powerful platform to deliver high-quality,
biller-centric Internet billing services to customers. We are pleased to be
working with Bluem, a company poised to become an established player in the
fast growing European e-billing market”

About BizCast

BizCast is an enterprise software solution for electronic invoice
presentment and payment. This award-winning solution, which presents
interactive invoices over the Internet, greatly reduces costs and cash
cycles for billers. BizCast also improves customer care for business
customers by automating processes for review, reconciliation, analysis,
approval and payment of invoices.

About the Companies Bluem

As a Dutch-based application service provider (ASP), Bluem enables
organizations (both B2C and B2B) that regularly post paper bills and other
documents, to transfer the entire process onto the Internet. This allows
billers to realize without disruption of the current billing process all of
the benefits of e-billing, quickly and in a cost effective way. The Bluem
online invoicing and payment solutions are based on the award-winning
Avolent platform, and include hosting and professional services for system
integration at billers.

By choosing high-quality partners and by delivering biller-centric
solutions that are based on industry standards and open architecture, Bluem
offers organizations in various markets a powerful platform to communicate
with customers, without incurring the cost of building an e-billing
operation. For more information, please visit , or call
+31 (0) 33 4506298.


Avolent is the leading provider of standards-based software solutions
for Electronic Bill Presentment and Payment (EBPP), Electronic Invoice
Presentment and Payment (EIPP) and Interactive Customer Care (ICC).
Avolent’s BizCast software provides benefits to all parts of the
business-to-business delivery chain — including billers, payers, service
providers, exchanges and financial institutions. Through a unique,
data-centric approach, BizCast automates the entire “invoice-to-pay”
process by helping businesses present, route, reconcile, dispute, analyze
and pay invoices online. The company’s modular BillCast(TM) software suite
enables relationship-centric billers to deploy secure, scalable solutions
for personalized billing, statement presentment, payment and service
delivery that increase the value of each customer interaction.
Founded in 1995 and headquartered in San Francisco, with offices in
Westminster, Colorado and Amsterdam, Avolent helped pioneer the Open
Financial Exchange (OFX) standard for online bill presentment and the thin
consolidator model, and continues to champion open standards, including the
Interactive Financial Exchange (IFX). It is also considered a pioneer in
the integration of advanced business-to-business and business-to-consumer
EBPP and ICC applications. Avolent’s customers are some of the largest
billing organizations and service providers in the industry, including
idesk plc, AT&T, CyberBills, Intuit, MasterCard, Spectrum, NuVox
Communications, Wells Fargo and YourAccounts.Com.