AmEx Jet Enhancement

American Express added a new perk for ‘Platinum Card’ and ‘Centurion Card’ which enables cardholders to book private air charters. The ‘Private Jet Charter Program’ is available through a relationship with the air charter service provider Le Bas International. Cardholders enrolled in the ‘Membership Rewards Program’, who book air travel through the Private Jet Charter Program receive double bonus points, up to 30,000 points, for each booking. The ‘Private Jet Charter Program’ includes a variety of aircraft types that can accommodate as few as two passengers or as many as 400. Booking air travel through the Program starts at $5,000.

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CompuCredit 2Q/01

Sub-prime specialist CompuCredit reported second quarter earnings of $14.7 million, a 130% increase over the first quarter. The ‘Aspire VISA’ issuer also reported a drop in charge-offs as a result of strong collection performance. The net charge-off rate was 14.6% in the second quarter of 2001 as compared to 14.8% for the first quarter. At June 30, the 60+ day managed delinquency rate was 10.6% compared to 9.4% as of March 31. Total credit card loans stood at $1,671,762,000 compared to $1,171,932 for 2Q/00, a 42.6% increase. CompuCredit added 167,000 new cardholders or 44,000 net new accounts for 2Q/01. For complete current and historical data on CompuCredit’s credit card portfolio visit CardData ([www.carddata.com][1]).

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

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PAYWARE RESOLVE 5.0

Trintech Group Plc, a global provider of
secure electronic payment infrastructure solutions for real world, Internet
and wireless environments, announced the release of PayWare Resolve
Version 5 with improved processing efficiency and greater customer care
capabilities. PayWare Resolve is a powerful dispute management system that
enables acquirers and processors to process disputed transactions
(chargebacks) more efficiently and cost-effectively.

The latest version of PayWare Resolve is designed to minimize total cost
of ownership for acquirers and processors by allowing flexible integration and
configuration, while reducing processing disputed transaction costs. PayWare
Resolve now provides increased chargeback auto processing capabilities,
enabling acquirers to improve cash management by rapidly passing chargebacks
back to the merchant responsible. A new browser interface allows acquirers and
processors to reduce their internal deployment costs and extend back-office
exception management capabilities to their partners and customers. Processing
customers and merchants can now control and manage their own disputes with
minimal investment in infrastructure.

“The new version of PayWare Resolve highlights our R&D commitment to
providing acquirers and processors with solutions to address the growing
volume of chargebacks emanating from eCommerce transactions,” said John Harte,
executive vice president of sales and marketing at Trintech. “Disputed
transaction rates can be up to 100 times greater on the Internet than in the
physical world. In managing the increasing number of disputed transactions,
acquirers can rely on PayWare Resolve Version 5 to streamline chargeback
processing and reduce costs.”

PayWare Resolve Product Overview

Trintech’s Chargeback System (PayWare Resolve) automates the exception
management process from end-to-end, increasing processing efficiency and
creating more opportunities for greater customer care.
PayWare Resolve combines a powerful decision-support environment with
compliant dispute regulations to enable optimum management of the entire
chargeback process using an easily understood graphical user interface, for
swift and informed decision-making.

The essential difference between PayWare Resolve and other exception
management systems is its built-in knowledge of national and international
chargeback regulations. The chargeback regulations for VISA and
MasterCard/Europay have been encoded into the application so that the system
can recommend the appropriate action and chargeback reason codes for each
case, replacing the need to navigate a series of intricate paper trails and
complex and changing regulations. Combined with the solutions ease of use,
this dramatically reduces the average training time for new staff to be fully
operational.

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(TM) compliant. Trintech’s range of scalable open systems architecture
solutions for UNIX(R) and Windows NT(TM) 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 +1-650-227-7000) 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 .

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AvantGo + Bpass

AvantGo, Inc., the leading provider of mobile infrastructure software and services, and Bpass, Inc., a privately held efinance solutions provider that leverages the shared ATM networks, announced that they have teamed up to offer banking services to mobile device users. By offering the BankPass balance inquiry service on the AvantGo mobile Internet service, Bpass is extending its technology to provide on the go consumers with secure, real-time access to their consolidated account balances.

Once consumers have registered with BankPass, they immediately have secure access to their ATM-enabled banking and credit card accounts, accessible via their mobile devices using the AvantGo service. BankPass is the first Internet gateway to the global ATM network that enables consumers to access their balances without requiring them or their bank to use any special software or hardware. Consumers can use the BankPass service even if their financial institution does not offer online banking or they are not registered for online banking services. BankPass is simple to use and provides consumers with a secure, convenient, quick way to stay on top of their finances and spend with confidence. BankPass does not charge consumers for the use of its service. “Consumers want access to their financial information in a variety of settings — at home, in the office and on the road. By extending the BankPass balance inquiry service to the AvantGo mobile Internet service, consumers now have unprecedented real-time account balance availability, with greater choice for how, when and where they access this information,” said Jimmy Hallac, CEO, Bpass Inc. “We’re excited to bring the BankPass technology to the AvantGo platform, and together offer consumers a great new way to have their financial information at their fingertips.”

“In a recent AvantGo survey, we found that almost two thirds of our users would like mobile access to their online bank account,” said Mike Aufricht, general manager of AvantGo’s Mobile Marketing and Commerce division. “Our audience demographic is ideal for Bpass and we are pleased to be working with them to extend their technology to the mobile arena and provide a valuable financial service to our customers.”

About Bpass

Founded in January 2000, Bpass Inc. is a financial services solutions provider that leverages the existing shared ATM infrastructure to develop e-finance solutions. Its flagship service, BankPass, provides consumers with simple, convenient and fast access to their financial information by safely and securely delivering real-time account balances across multiple channels, including the Internet, e-mail, PDAs, instant messenger services and mobile devices. The BankPass technology is able to access ATM-enabled accounts, independent of whether or not a consumer’s financial institution offers online banking or the consumer has activated their accounts for online banking. The technology can be seamlessly integrated into new or existing online and mobile service offerings or operate on a stand alone basis. Bpass is partnering with financial service enablers, financial institutions, ATM networks and processors, and online destinations to leverage its robust, proprietary technology to better serve consumers through increased access to their financial information and additional online payment choices. Bpass Inc. is headquartered in New York City. [www.bankpass.com][1].

About AvantGo

AvantGo, Inc. is the leading provider of infrastructure software and services that power the mobile economy. AvantGo M-Business software enables businesses to increase the value of their corporate information systems by extending existing enterprise applications and critical information to employees, customers and business partners. The company also provides the AvantGo mobile Internet service, a hosted network that enables hundreds of businesses to deliver their content and applications to more than 2.5 million mobile consumers. AvantGo is a pioneer in delivering real-world solutions for both wireless and off-line use. For more information, please visit [www.avantgo.com][2].

[1]: http://www.bankpass.com
[2]: http://www.avantgo.com

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MONEY TRANSFERS

Western Union Financial Services, Inc., a
subsidiary of First Data Corp., announced the addition of
Algeria to the growing list of countries served by its international money
transfer system. Alliances with Societe Generale Algeria, El Khalifa Bank,
and the Algerian Post Office will create an estimated 200 Western Union agent
locations throughout Algeria by year-end and will allow Western Union to offer
money transfer services to the nearly three million Algerians living abroad.

Western Union’s agreements with the Societe Generale Algeria and El
Khalifa Bank have been operational for several months, providing services in
more than 30 locations in major cities nationwide. Both organizations are
expected to vigorously pursue expansion opportunities. In addition, the
recent agreement with the Algerian Post Office will significantly amplify the
presence of Western Union throughout Algeria and will help extend its reach to
Algerian populations in rural areas as well as urban communities. The Post
Office is projected to offer service through 100 locations by the end of the
year.

“The addition of the Algerian Post Office, Societe Generale Algeria and El
Khalifa Bank illustrates Western Union’s policy of aggressive international
expansion,” said Charles T. Fote, president and chief operating office, First
Data Corp. “These agreements represent a significant extension of the Western
Union global agent network and enhance our presence throughout Africa. They
also demonstrate our commitment to ally ourselves with the most trusted and
service-oriented local businesses.”

Both postal organizations and local banks provide Western Union an
important link to communities around the world and have become valued agent
partners. With the addition of Societe Generale Algeria, the Algerian Post
Office and El Khalifa Bank, Western Union Money Transfer services are now
available through more than 100,000 locations that span the globe, providing
an unparalleled international presence in the field of money remittance.

About Western Union and First Data Corp.

Western Union Financial Services, Inc., a subsidiary of First Data Corp.
(NYSE FDC), is a worldwide leader in consumer money transfer services.
Consumers can quickly, safely and reliably transfer money at over
100,000 agent locations in more than 185 countries and territories using the
Western Union money transfer network. Famous for its pioneering telegraph
service, the original Western Union dates back to 1851 and introduced
electronic money transfer service in 1871. Western Union is celebrating its
150th anniversary in 2001. For more information, please visit the company’s
Web site at http//www.westernunion.com.

First Data Corp. (NYSE FDC), with global headquarters in Denver, powers
the global economy. Serving approximately 2.6 million merchant locations,
more than 1,400 card issuers and millions of consumers, First Data makes it
easier, faster and more secure for people and businesses to buy goods and
services, using virtually any form of payment credit, debit, smart card,
stored-value card or check at the point-of-sale, over the Internet or by money
transfer. For more information, please visit the company’s Web site at
http//www.firstdata.com.

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Equifax 2Q/01

Equifax Inc. reported solid second quarter net income of $57.9 million and earnings of $0.42 per share. The results include operations of Certegy Inc., formerly the Equifax Payment Services Division, which contributed net income of $19.6 million, or $0.14 per share, and exclude one-time separation costs related to the Certegy spin-off, which totaled $36.5 million pre-tax or $0.21 per share. Results for Certegy, which was established as a separate public company through a tax-free distribution to shareholders on July 7, 2001, will be reported as discontinued operations.

SECOND QUARTER HIGHLIGHTS (excluding divested and discontinued operations)

* Second quarter consolidated revenues of $289.5 million and operating income of $76.2 million represent growth of 10 percent (13 percent excluding currency impact) and 14 percent, respectively.

* Excluding acquisitions and currency, revenues increased nine percent over second quarter 2000, despite the sluggish U.S. economy.

* Diluted earnings per share of $.28 were up 17 percent over second quarter 2000 and exceeded analyst expectations by $.01.

* North American Information Services revenues were $192.9 million versus $170.5 million in 2000, an increase of 13 percent led by growth in Credit Services, Mortgage Services, and Consumer Direct. Consumer Direct revenue increased more than five times over second quarter 2000.

* Operating income in North American Information Services increased 13 percent to $79.6 million.

* Revenues in Latin America were $27.1 million and operating income was $6.6 million in the quarter. Revenues in local currency were up six percent.

* Revenues in Europe were $35.4 million and operating income was $.5 million. Revenues in local currency were up six percent.

FIRST HALF HIGHLIGHTS

* Revenue increased 16 percent to $574.8 million.

* Operating income increased 18 percent to $146.5 million.

* Diluted earnings per share increased 16 percent to 52 cents.

“Equifax is delivering profitable growth despite a sluggish global economy,” said Tom Chapman, Equifax chairman and chief executive officer. “Our performance is attributable to the strong revenue and profit growth in the core U.S. reporting businesses, demand for direct-to-consumer products and improved operating efficiency.

We continue to experience growth in our Consumer Direct business,” Chapman continued. “We were the first to offer consumers their credit profile securely over the Internet and we continue to expand our direct to consumer services, including the acclaimed ScorePower(TM) product and CreditWatch(TM), the leading consumer weapon against ID fraud.

Our Small Business Exchange is gaining momentum as we populate the database with customers’ data and build membership. In addition, we continue to partner with world-class companies to leverage technology while minimizing our capital requirements. We recently announced an agreement with Seisint that dramatically reduces the turn-around time needed for marketing services fulfillment.”

OUTLOOK

Equifax reconfirmed its previous guidance for revenue and earnings growth of seven to nine percent for calendar 2001. For 2002, Equifax expects revenue growth of 10 to 12 percent and earnings per share growth of 11 to 13 percent.

Equifax enables and secures global commerce through its information management, consumer credit, marketing services, business information, authentication and e-commerce businesses. As the leader in information services, Equifax adds value wherever customers do business, including the financial services, retail, telecommunications/utilities, information technology, brokerage, insurance and business lending industries and government. Equifax also enlightens, enables and empowers consumers to manage and protect their financial health with services offered at http://www.equifax.com. The company ranked in the top five in return on equity among Business Week’s Best Performers for 2001. Equifax employs 6,600 in 13 countries and has $1.1 billion in revenue.

For more information on Equifax’s 2Q/01 results visit CardData ([www.carddata.com][1])

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

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TELEPHONE TERMINALS

Cadmus and TrustPower have teamed up to provide consumers with the option of paying their electricity bills with debit or credit cards using a personal telephone terminal. TrustPower says it plans to deploy 1,000 of the telephone devices in two South Island regions for a pilot by year-end. The company also noted that its ‘POS Power’ phone system can be extended to enable consumers to pay for other utility services such as telephone, gas, cable television and Internet service.

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Household 2Q/01

Led by higher receivable volume and a wider net interest margin, Household’s managed net revenues grew $395 million, or 19%, from a year ago. The managed net interest margin percent widened to 8.34% from 8.17% a year ago and 8.22% in the first quarter. Managed fee income also increased $43 million, or 12%, compared to 2Q/00, reflecting higher levels of credit card fees. However credit quality declined as charge-offs in the VISA/MasterCard portfolio increased 22%, while delinquencies increased by 15%, since 2Q/00. Household notes that virtually all of the increase in the quarter was due to higher bankruptcy filings. For complete details on Household’s 2Q/01 current and past performance visit CardData ([www.carddata.com][1])

HOUSEHOLD TRACK RECORD
(VISA/MASTERCARD ONLY)
2Q/01 1Q/01 4Q/00 3Q/00 2Q/00
EOP RECV: $17.0b 16.6 17.6 16.4 15.9
CHG-OFFS 6.82% 6.27 5.83 5.23 5.57
DEL (60+dy) 3.60% 3.68 3.49 3.48 3.14
Source: CardData (www.carddata.com)

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

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AmEx Cutback

American Express predicted yesterday the economy will remain weak into 2002 and said the company plans to cut between 4,000 and 5,000 jobs during the third quarter. AmEx will announce Monday a 76% decline in earnings for the second quarter due to pre-tax charge of about $826 million for additional write-downs in the high-yield portfolio at American Express Financial Advisors. During 3Q/01, AmEx says it will trim costs by relocating certain finance, operations and customer support functions to lower-cost overseas locations; accelerating the transition of business travel operations to the Internet, and moving certain employee processing and service functions, including Human Resources processes, expense report processing and employee travel bookings, to the Internet and reducing the staff levels currently needed to provide these services.

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Certegy 2Q/01

Certegy Inc. reported second quarter 2001 basic earnings per share of $0.31 ($0.26 on a pro forma basis), in line with expectations. Certegy was established as a separate public company through a tax-free distribution to Equifax Inc. shareholders on July 7, 2001. Pro forma results include adjustments to historical results to reflect additional expenses that would have been incurred had the distribution occurred at the beginning of the reporting periods.

FINANCIAL AND BUSINESS HIGHLIGHTS

* Revenue growth of 6.4 percent to $205.4 million, compared to 2000 second quarter revenue of $193.1.

* Operating income of $35.9 million ($34.2 million pro forma) compared to $36.5 million ($34.9 million pro forma) in the prior-year quarter.

* Net income of $21.3 million ($18.0 million pro forma), versus $22.5 million ($18.1 million pro forma) in the prior-year quarter.

* Diluted shares would have approximated 69.3 million for the second quarter of 2001, based upon a common stock market price in the $29 to $30 range, which would have resulted in diluted pro forma earnings per share of $0.26.

“We continue to grow the business profitably and gain significant new customer relationships,” said Lee Kennedy, President and CEO of Certegy. “Revenue, operating income and net income increased 11.7 percent, 11.1 percent and 15.1 percent on a pro forma basis, excluding the impact of currency and non-recurring software sales.”

Kennedy continued, “We have achieved a high degree of credibility in the markets we serve by maintaining exceptional customer service and advanced technology. During the second quarter and early July, we successfully converted the National Australia Group card portfolios in the United Kingdom, Ireland and Australia to our Base 2000 card processing platform. The final phase, the New Zealand portfolio, is scheduled for completion in early August. In Brazil, we also converted two million existing Banco Real accounts to our Base 2000 processing platform. These projects were completed on time, within budget and with a high degree of accuracy.” Kennedy added, “We will continue to aggressively pursue new customer opportunities which leverage our existing operations.”

Card Services generated revenue of $138.6 million in the second quarter of 2001, a 6.5 percent increase compared to 2000. On a local currency basis, international card issuing revenue rose by 25.1 percent. Card Services’ revenue and operating income grew 13.8 percent and 15.5 percent exclusive of software sales and currency.

Check Services reported second quarter revenue of $66.8 million, a 6.1 percent increase (7.6 percent excluding the impact of foreign currency) over 2000. Operating income declined modestly to $10.5 million. Net loss rates have begun to decline but remained at a higher rate than in the prior year quarter, including the effects of new customer start-up loss experience that typically exceeds ongoing loss rates.

OUTLOOK

The company reconfirmed previous financial guidance for full year 2001 and 2002. For 2001, 9 to 10 percent revenue growth, including the impact of foreign currency, and 14 to 16 percent net income growth. For 2002, the company expects revenue growth between 11 and 13 percent, and net income growth between 14 and 16 percent. Stated growth rates are organic, based upon pro forma comparative results and assume constant currency in 2002.

Certegy Inc. provides credit, debit and merchant card processing, e-banking services, check risk management and check cashing services to financial institutions and merchants worldwide. Headquartered in Alpharetta, Georgia, Certegy maintains a strong global presence with operations in the United States, Canada, the U.K., Ireland, France, Chile, Brazil, Australia and New Zealand. As a proven global payment services provider, Certegy enables transaction certainty, brings customers and commerce together and provides business results through leading technology. Certegy employs about 5,800 associates in 9 countries and had $779 million in revenue in 2000.

For more details on Certegy visit CardData ([www.carddata.com][1]).

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

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Chase 2Q/01

J.P. Morgan Chase & Co. reported Wednesday it added more than one million accounts during the second quarter as credit card outstandings continue to grow at an annual rate of 15% from one year ago. Credit card revenues hit $1.1 billion for 2Q/01, a 15.3% increase over second quarter 2000. Credit card earnings rose 7.1% over the same period, from $126 million to $135 million. As with other major issuers, earnings have been dampened by higher charge-offs. Chase reported 2Q/01 charge-offs of 5.54%, a 13% rise since the start of this year. The issuer notes that the increase in charge-offs from the first quarter primarily was the result of higher bankruptcy filings, which were leveling off during the latter half of the second quarter. For complete details on Chase’s 2Q/01 current and past performance visit CardData ([www.carddata.com][1])

CHASE TRACK RECORD
2Q/01 1Q/01 4Q/00 3Q/00 2Q/00
AVG RECV: $36.7b 36.4 34.4 32.9 32.6
CHG-OFFS 5.54% 5.05 4.90 5.00 5.16
DEL (90+dy) 1.90% 1.99 2.07 1.84 1.68
Source: CardData (www.carddata.com)

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

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FI Nabs Sjoblad

As part of his strategic plan to grow the value and relevance of the company’s standard-setting decision technologies far beyond markets it currently serves, the CEO of Fair, Isaac and Company, Inc. announced that Steven Sjoblad, a top corporate strategist and marketer, would join the company to lead its corporate development.

Sjoblad represents a pivotal addition to the Fair, Isaac senior leadership team. As leader during Fallon McElligott’s rise from start-up to one of the world’s preeminent advertising agencies, Sjoblad has fine-tuned the art of creating and the science of executing market-making corporate development strategies. As Fallon’s president, Sjoblad guided global strategy and marketing campaigns for dozens of industry-leading companies, including Coca-Cola, FedEx, Northwest Airlines, Lee Jeans, the NBA, Conseco Financial Services, and many others others.

“Steve is a catalyst for new ideas,” said Tom Grudnowski, CEO of Fair, Isaac. “He causes us to look at our business, our markets and our opportunities in entirely different ways. I am confident that his perspective and his experience will be valuable assets in moving Fair, Isaac into significant new arenas,” he said.

Sjoblad, who was advising Fair, Isaac before agreeing to join the company as vice president of corporate development, said he “sees a huge upside for Fair, Isaac. Over the years, I’ve worked with a number of companies that have distinct windows of opportunity to achieve significant success. But the potential for Fair, Isaac to create a fundamental shift in how corporations think about and use mission-critical data is the most impressive–bar none–I’ve ever seen,” Sjoblad said.

During his 25-year career, Sjoblad has worked in virtually every consumer and business-to-business category, developing a broad knowledge base and a deep expertise in creating powerful, profitable corporate strategies and translating them into compelling marketing programs. At Fair, Isaac, Sjoblad will focus on identifying new categories of products and new market opportunities for the company, and on building a global presence for Fair, Isaac.

In addition to his position at Fair, Isaac, Sjoblad serves as non-executive Chairman of the Board of Ellerbe Becket, the world’s second largest architectural and engineering firm, and is a board member of Schwans Sales Enterprises, a $3.3 billion food company. He also is an investor and Board member of CDXC, a digital asset management company based in the Twin Cities.

About Fair, Isaac

Fair, Isaac and Company is a global provider of customer analytics and decision technology. Widely recognized for its pioneering work in credit scoring, Fair, Isaac revolutionized the way lending decisions are made. Today the company helps clients in multiple industries increase the value of customer relationships. Fair, Isaac has made the Forbes list of the top 200 U.S. small companies eight times in the last nine years. Headquartered in San Rafael, California, Fair, Isaac reported revenues of $298 million in fiscal 2000.

For more information, visit the company’s Web site at .

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