E-Shoppers

When it comes to using credit cards online, the Brits have it all over the Yanks. In the UK, 76% of all home Internet users visited an e-tailing Web site during May, with 42% going on to make a secure connection on a site. In the US, 74% of home Internet users visited an e-commerce site during May, with just 29% making a secure connection. Although Sweden and Denmark have the largest proportion of households online, Swedes and Danes are least likely to shop online according to data gathered by Paris-based NetValue. Only 8% of Danish visitors and 7% of Swedish visitors to an e-commerce Web site actually entered a secure area of the site. Scandinavia continues to lead the rest of Europe and the US for Internet penetration. In May, 58% of Swedish households and 56% of Danish households were connected to the Internet. Of the eight countries, the US was in third position, with 51% of households connected, and the UK was in fifth position, with 38% of households connected. Although Spain has fewest households connected, users spend more time online and view more pages than any other European country. On average, Spanish Internet users connected for 9.4 hours and viewed 924 pages.

WEB ACTIVITY – EUROPE/USA May 2001
Duration on the Domains per Pages displayed
web (hours) visitor

UK 7.2 49.8 769
France 6.0 43.9 775
Germany 6.6 59.2 825
Spain 9.4 60.2 924
Sweden 6.0 39.8 604
Denmark 5.5 43.7 687
Norway 5.2 39.9 580
US 11.9 54.0 1134
Source: NetValue

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MaxCharge v3.0

Maximized Software, Inc. released MaxCharge version 3.0, a major upgrade to its popular MaxCharge product that enables a merchant to securely process credit card transactions directly over the Internet. “The ability to safely support multiple merchant accounts on a single computer is a significant enhancement to our component,” said Ken Spreitzer, President of Maximized Software. “Many online merchants rely on e-commerce solutions provided by their ISP, who in turn have expressed the need for a single, easily configurable solution. Version 3.0 offers quick and secure configuration so that ISPs can control the capabilities of their merchants and maintain the security of their web server(s).” MaxCharge is an ActiveX (COM) component, so it can be used with Microsoft Active Server Pages, Visual Basic, Delphi, Access, ColdFusion, Microsoft .NET, and many other environments, enabling MaxCharge to easily be integrated with most e-commerce products. The product includes sample processing scripts, sample code, documentation, and a test merchant account to help the user become immediately productive.

Merchants using MaxCharge are pleased with the product’s ease of use. “MaxCharge was extremely easy to implement in our e-commerce web site,” said Sean Gailey, Chief Technical Officer of Empire Technologies, Inc., in San Diego, California. “We saved a lot of time and money by using MaxCharge; it cut our development time in half. For the few questions we had, Maximized Software provided quick and reliable technical support.”

MaxCharge version 3.0 provides the following feature enhancements:

— Support for shoppers paying by credit card or check.

— ISP/multiple merchant support.

— Automatic support for redundant processing servers (ECHOnline only).

— Full support for the latest AuthorizeNet and ECHOnline interfaces.

— Supports commercial cards for lower transaction fees (ECHOnline only).

— New InitTestTransaction method makes testing even easier.

— Improved and expanded documentation.

Pricing

MaxCharge version 3.0 costs $295.00 per computer.

Availability

MaxCharge version 3.0 is available for immediate download from the Maximized Software web site at http://www.maximized.com/products/maxcharge/ and requires a computer running Microsoft Windows 95, Windows NT 4.0, or later. Upgrades from version 2.0 are free for registered users.

About Maximized Software

Maximized Software, headquartered in Mill Valley, California, was founded in 1992 by Ken Spreitzer. After establishing Maximized Software, Spreitzer achieved industry fame as the creator of Uninstaller for Windows — a best-selling utility program. Maximized Software also created and sold Build-A-Card, the first commercial greeting card site on the Internet. The company’s product line includes several web server and client utilities.

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84 Lumber & Leath Cards

Conseco Finance Corp. is pleased to announce that Leath Furniture, L.L.C., and 84 Lumber Company have renewed multi-year retail credit progrm agreements with the company.

“We’ve had a great relationship with Conseco Finance,” said Barbara Snow, chief financial officer of Leath Furniture, L.L.C. “We value the people we work with. They’ve demonstrated a lot of integrity. We had other bidders, but our established relationship was the deciding factor.”

Leath has been a client of Conseco Finance since December 1996, 84 Lumber Company has been a client of Conseco Finance since March 1999.

“Each of our clients has very different needs,” said Todd Woodard, president of Conseco Finance’s Retail Credit Division. “We’ve made it our job to understand their businesses from the inside out and design customized credit programs to help achieve their sales goals. Then we set out to service these programs better than anyone else in the industry. We believe that’s the best way to maintain strong client relationships.”

Leath, based in Atlanta, operates 26 stores and two distribution centers in Wisonsin, Illinois, Indiana, Michigan and Florida. In the Midwest, the company’s stores operate as Leath Furniture. In Florida, the company operates five Modernage Furniture stores. Last year, Leath’s private-label credit card brought in approximately $42 million in sales.

84 Lumber, headquartered in Eighty Four, Penn., is the largest privately held supplier of building materials in the U.S., with 406 stores in 30 states from coast to coast. Professional contractors make up 75 percent of sales, which were approximately $1.8 billion in 1999.

Conseco Finance Corp., with total manages assets of $48 billion, is one of America’s largest finance companies. In just four years, Conseco Finance has become one of the top five issuers of private-label credit cards. The company is also a leader in the home equity, home improvement and manufactured housing finance buisnesses. Conseco Finance is a subsidiary of Conseco, Inc., headquartered in Carmel, Inc. To learn more about Conseco, visit [www.conseco.com][1].

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

Details

VISA Award

For the fourth consecutive year, the World Travel Awards, the prestigious awards ceremony that acknowledges significant achievements in all areas of the travel and tourism industry, has named Visa the “World’s Leading Credit Card.”

Visa was recognized for its commitment to the traveller and the travel industry, and is considered by many as “the World’s Best Way to Travel.” Criteria used in evaluating companies and organizations include scope of distribution, convenience, and overall best services.

Candidates for nomination in 152 categories were based upon the previous year’s voting. Throughout 2000, travel agents from more than 25,000 agencies in 182 countries registered millions of votes online at the official World Travel Awards website at www.WorldTravelAwards.com, with most of the leading travel Internet sites offering additional online voting facilities.

“We are delighted that Visa has again captured the distinction of `World’s Leading Credit Card’ by the World Travel Awards, for a fourth year in a row,” said Tom Shepard, executive vice president, Global Marketing Partnerships and Sponsorships, Visa International. “With Visa’s acceptance at more than 22 million locations around the world, cardholders enjoy the convenience and confidence that Visa provides. It is a true honor to receive this distinction from one of the industry’s most important awards programs.”

“The World Travel Awards has become the event for the `who’s who’ of the global travel community,” said Manon Han, the Organising Director of the World Travel Awards. “We’re extremely proud to play a role in both celebrating the past achievement and encouraging the future services and products in the industry. The World Travel Awards is now being recognised as the best endorsement that any travel product could receive.”

Established in 1993, the World Travel Awards held its eighth-annual ceremony in conjunction with the Pacific Asia Travel Association’s 50th Anniversary Conference at the Shangri-La in Kuala Lumpur, Malaysia, on April 10, 2001. The World Travel Awards honors leading travel-related organizations in worldwide and regional categories that range from airlines, hotels, beaches and cruise lines to credit cards, car rental companies and hotel reservation services.

Visa International is a strategic partner with many of the leading global corporations and merchants, creating retail and T&E promotions that deliver extraordinary values to Visa cardholders worldwide. Visa’s extensive merchant relationships and marketing partnerships, as well as its unsurpassed acceptance in nearly 300 countries and territories, are driving Visa’s growth in the retail and T&E arenas.

For more information on the 2000 World Travel Awards or for a complete list of winners, visit [www.WorldTravelAwards.com][1].

About Visa

Visa is the world’s leading payment brand and the largest payment system worldwide. Visa-branded cards generate more than US$1.9 trillion in annual volume annually and are accepted at over 22 million locations around the world. The Visa organization plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce – or universal commerce – the ability to conduct commerce anytime, anywhere, over any type of device. Visa’s Internet address is [www.visa.com][2].

[1]: http://www.WorldTravelAwards.com/
[2]: http://www.visa.com/

Details

Fujitsu Name Change

What: Fujitsu-ICL Systems Inc. is re-named Fujitsu Transaction Solutions Inc.

Why: The company has been re-named:

– To better exemplify the company’s core competencies in transaction-oriented systems for retail, financial and mobile solutions

– To clarify that the company is now a wholly owned subsidiary of Fujitsu Limited (Tokyo Stock Exchange: 6702) and no longer a joint venture between Fujitsu and London-based ICL. (Legally occurred April 1, 2001)

When: Effective immediately

Market Impact: The company is focused on serving the transaction-oriented needs of retailers and financial institutions by offering Fujitsu hardware, software and services, such as point-of-sale (PoS) systems, automated-teller machines (ATMs), wireless mobile computers, CRM, managed services, GlobalSTORE(r) retail software and more. The company is also expanding its sales channels, direct and indirect, to better serve a range of customers in its target markets. The company name change has minimal market impact except that Fujitsu Transaction Solutions is getting more aggressive and focused on demonstrating its heritage, track record, capabilities and value propositions to customers throughout North America.

Where: Fujitsu Transaction Solutions Inc. is headquartered in Dallas.

Management Spokespersons:

– Austen Mulinder, president and chief executive officer

– Nancy Daniels, executive vice president and general manager

– Ron Omohundro, executive vice president and general manager

– Tom Juliano, senior vice president of marketing and product operations

Details

SMARTUP DEAL

INGENICO vient d’enregistrer auprès de Banksys, l’opérateur du réseau de paiement électronique belge, une
première commande significative portant sur la fourniture de 120.000 lecteurs de carte, de type “Smart’up”, pour la
sécurisation des e-paiements sur internet via le système BankSafe. Les livraisons s’étaleront jusqu’au premier
trimestre 2002.Cette commande revêt une double importance. Si elle satisfait pleinement Ingenico, leader mondial dans
son domaine, en raison de la confiance accordée par Banksys aux produits développés par le groupe, elle constitue
aussi et surtout une grande première très attendue pour le démarrage officiel et à grande échelle d?un paiement
on-line sécurisé là où la plupart des autres pays restent encore dans l?attente et dans l?expectative.Nul doute, selon
la société, que cette décision sera de nature à inciter les plus timorés à lancer progressivement leurs propres
systèmes – autres que virtuels – pour répondre aux besoins sans cesse grandissants du e-commerce.Là comme
ailleurs, INGENICO sera en première ligne pour participer avec toutes ses forces et tous ses moyens à la
généralisation du paiement électronique et de nombreux autres projets sont actuellement en cours de R & D pour être
disponibles et opérationnels le moment venu.

Details

Discover 2Q/01

Morgan Stanley Dean Witter & Co. reported yesterday its fiscal 2Q/01 credit card interest spread widened by 40 basis points since the last quarter thanks to the sharp decline in interest rates that began in the first quarter of the year. MSDW’s Credit Services/Discover Card division also reported it opened 1.4 million new Discover accounts during the quarter, resulting in one million net new accounts. However net income for the credit card division was $171 million, 19% lower than the second quarter of 2000 due to higher net charge-offs. The credit card net charge-off rate was 77 bps higher than a year ago and 19 bps above 1Q/01’s loss rate. Delinquency (30+ days) also was significantly higher than last year, but has eased downward since 1Q/01. The increase in both the charge-off and delinquency rates reflected both the continued weakness in the U.S. economy and the aging of cardholder accounts opened after 1998. Discover notes that accounts with bankruptcy notifications trended significantly higher during the quarter. Managed credit card loans broke the $50 billion level for the first time but charge volume eased back due to normal seasonal fluctuations. For complete details on Discover’s latest quarterly results visit CardData ([www.carddata.com][1]).

DISCOVER CARD PORTFOLIO SNAPSHOT
2Q/00* 3Q/00* 4Q/00* 1Q/01* 2Q/01*
Receivables: $43.7b $44.8b $47.1b $49.5b $50.2b
Volume: $21.9b $21.9b $22.8b $24.4b $23.5b
Accounts: 40.4m 41.4m 42.6m 43.7m 44.7m
Actives: 23.1m 23.1m 23.8m 24.0m 24.3m
Chargeoffs: 4.21% 4.18% 4.57% 4.79% 4.98%
Delinquency: 5.11% 5.47% 5.92% 6.34% 5.84%
Yield: 13.69% 14.05% 14.13% 13.66% 13.34%

*2Q/00 fiscal quarter ended 5/31/00; 3Q/00 fiscal quarter ended 8/31/00; 4Q/00 fiscal quarter ended
11/30/00; 1Q/01 fiscal quarter ended 2/28/01; 2Q/01 fiscal quarter ended 5/31/01. Source: CardData
(http://www.carddata.com)

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

Details

Palm Terminals

A new low-cost, wireless, credit card processing system was introduced this week that enables merchants to process credit card transactions using a ‘Palm VIIx’ that is attached to a cradle/credit card reader unit. The under $500 ‘Revolution NP’, released by World Products’ AIRCHARGE Division, utilizes the Atomic ‘ecomPort’ gateway for transaction processing. The software that mates the two units allows a merchant to swipe and authorize a credit card via the Palm.net wireless service. The ability to do a card swipe transaction reduces the fees normally paid for mobile credit card acceptance. The unique feature of this system is the use of the underlying ‘Palm’ operating system which allows the ‘Revolution NP’ system to just be another add-on component to the ‘Palm VIIx’. The new system also utilizes advanced security features of ‘AVS’ and ‘CVC2/CVV2’ card present verification for manually keyed transactions. AIRCHAGE says the system can reduce transaction costs of mobile sales by up to 30%-40%.

Details

INGENICO REVENUES

Last January, Ingenico’s senior managers, with their usual cautiousness, had presented a Group sales forecast for
25% growth in fiscal 2001.

As it turns out, group consolidated turnover to end-May 2001 was up 56.7% over the same period a year earlier,
reaching Euro 120.12m * (FRF788m) as compared with Euro 76.64m (FRF502.7m) last year. Parent company sales
alone rose by 50% to Euro 51.36m * (FRF337m), compared with Euro 34,27m (FRF224.8m) in 2000.

The information briefing for analysts and the press, planned for this 26th of June will be an opportunity for the same
corporate officers to revise their forecasts upwards. Consolidated turnover for the year is now expected to exceed
Euro 300m, against ?235m in 2000.

These figures, and the prospects that will be unveiled in the June meeting, strikingly demonstrate how securities
investors have erred in continuing to consider Ingenico as just another of those high tech companies hit harshly by
the backlash to the market madness of a year ago.

In reality, unlike so many of the former “high-growth stocks”, Ingenico is a sound and solid manufacturing company
which has managed to win an exceptional reputation in a market segment untouched by recession. Just as business
analysts debate about the market slowdown, huge potential markets are opening up around the world, especially in the
so-called emerging economies whose needs are surely in another ball park than those we know today.

The resources mobilized by Groupe Ingenico to deploy the broadest and most varied product range possible will prove
fruitful in the next few years when all the companies that have failed or neglected to give themselves the critical size
and status to win market share in those fabulous markets gradually disappear.

Details

FUJITSU NAME CHANGE

Fujitsu-ICL Systems Inc. has been re-named Fujitsu Transaction Solutions Inc. to underscore its
focus on systems and services for retail, financial systems, and mobile solutions. The company is now a
wholly owned subsidiary of Fujitsu Limited (Tokyo Stock Exchange: 6702) and no longer a joint venture
between Fujitsu and London-based ICL. (Legally occurred April 1, 2001) The company is focused on
serving the transaction-oriented needs of retailers and financial institutions by offering Fujitsu
hardware, software and services, such as point-of-sale systems, automated-teller machines, wireless
mobile computers, CRM, managed services, GlobalSTORE retail software and more. Fujitsu Transaction
Solutions Inc. is headquartered in
Dallas.

Details

DATAWAVE CARDS

DataWave Systems has completed initial development of its innovative cash card delivery and
authorization infrastructure.

The first unit was installed in the U.S. marketplace on June 18th, and will allow consumers to purchase
prepaid cards, which are activated real time through the DataWave network.
The DataWave solution provides comprehensive customer support and transactional detail through
live customer service and web based interfaces. DataWave has launched their interactive website,
www.mycardstatus.com, which will allow customers to access their card balance, transaction history &
statements online. They can also add more funds to their card, update their personal information and
report a lost or stolen card.

“The timely launch of this program is a key milestone,” says Josh Emanuel, President and CEO of
DataWave, “as it proves DataWave’s ability to quickly deliver new and innovative multi tiered solutions
to the financial marketplace. We are extremely optimistic that our efforts and investment over the past
months will yield many exciting opportunities in the prepaid marketplace.”

About DataWave (http://www.datawave.ca)

DataWave Systems designs, develops, produces, owns and manages a proprietary, intelligent,
automated direct-merchandising network, comprised of free-standing intelligent machines (DTMs) and
over the counter “swipe” units (OTCs) connected to the gateway and database software through a
wireless and/or landline wide area network. This unique leading-edge technology provides for
point-of-sale activation, cash/credit card acceptance, detailed reporting and 24/7 remote
self-diagnostic troubleshooting, making it virtually maintenance-free. The Company has proven
enabling technologies that have allowed it to enter new markets and generate additional revenue
streams with innovative prepaid and financial services products. In addition to its successful prepaid
calling card business, the company is testing the distribution of the Michigan National Bank Prepaid
MasterCard together with Coinstar.

DataWave is now poised to capitalize on the flexibility of its System by augmenting its product range to
meet the diversified and changing needs of the prepaid market and in further developing strategic
partnerships.

Details

Ingenico Revenues

Last January, Ingenico’s senior managers, with their usual cautiousness, had presented a Group sales forecast for 25% growth in fiscal 2001.

As it turns out, group consolidated turnover to end-May 2001 was up 56.7% over the same period a year earlier, reaching Euro 120.12m * (FRF788m) as compared with Euro 76.64m (FRF502.7m) last year. Parent company sales alone rose by 50% to Euro 51.36m * (FRF337m), compared with Euro 34,27m (FRF224.8m) in 2000.

The information briefing for analysts and the press, planned for this 26th of June will be an opportunity for the same corporate officers to revise their forecasts upwards. Consolidated turnover for the year is now expected to exceed Euro 300m, against ?235m in 2000.

These figures, and the prospects that will be unveiled in the June meeting, strikingly demonstrate how securities investors have erred in continuing to consider Ingenico as just another of those high tech companies hit harshly by the backlash to the market madness of a year ago.

In reality, unlike so many of the former “high-growth stocks”, Ingenico is a sound and solid manufacturing company which has managed to win an exceptional reputation in a market segment untouched by recession. Just as business analysts debate about the market slowdown, huge potential markets are opening up around the world, especially in the so-called emerging economies whose needs are surely in another ball park than those we know today.

The resources mobilized by Groupe Ingenico to deploy the broadest and most varied product range possible will prove fruitful in the next few years when all the companies that have failed or neglected to give themselves the critical size and status to win market share in those fabulous markets gradually disappear.

Details