Trintech Group plc a leading provider of
secure electronic payment infrastructure solutions, announced that it
has signed a deal for the implementation of its Acquirer Chargeback System
(PayWare Resolve) with GZS, Germany’s only full service acquiring processor
who has a significant market share for EuroCard issuing processing. PayWare
Resolve, a dispute management system for acquirers and processors, will
improve the way GZS manages disputed transactions (chargebacks) — allowing
them to process disputes more efficiently and cost-effectively, while reducing
staff training time and simultaneously improving customer service.

In determining the need for an automated solution, GZS cited increased
card usage driven by the growth in eCommerce coupled with GZS’s move to
duality in 1999 and increasing globalization of the processing industry, which
have all led to above-average growth in the volumes of transactions being
processed by GZS and inevitably an increase in the volume of chargebacks.

At the announcement of the contract signing, John Harte, Trintech’s
Executive Vice President of Sales and Marketing commented that, “Like all
acquirers GZS is under pressure to reduce their processing costs. At the same
time they wish to constantly improve their customer service and strengthen
their relationships with their customers. Chargebacks are a key reason for
customer attrition especially in the acquiring business and through our
PayWare Resolve product we were able to offer GZS a solution that will allow
them to reduce cost and add value to their customer service offering.”

“We are continually striving to refine and improve our systems to better
fulfill our clients’ needs. We believe that Trintech’s chargeback solution
PayWare Resolve, addressed and exceeded our requirements for an exception
management solution,” said Stefanie Fischer, Team Manager Chargeback
& Compliance for GZS. “It was absolutely essential that we employed a system
that would drastically reduce processing times while also reducing the time to
train new staff into the chargeback area.”

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

About Trintech

Trintech is a leading provider of secure electronic payment infrastructure
solutions for real world, Internet and wireless transactions. The company,
founded in 1987, offers a complete range of payment software products for
credit, debit, commercial and procurement card applications. Trintech’s
secure product range is deployed in over 35 countries worldwide and covers the
payment requirements of consumers, card issuing banks, merchant acquiring
institutions, merchants, eMerchants, telcos, wireless operators, ISPs/CSPs,
Portals and large corporations. The Group’s range of scalable, open systems
architecture solutions for UNIX(R) and Windows NT(TM) platforms covers
consumer, merchant and financial institution requirements for all card-based
payments, including eCommerce and the emerging world of mCommerce. Trintech
can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94403
(Tel 650-227-7000) and in Ireland at Trintech Building, South County
Business Park, Leopardstown, Dublin 18 (Tel 353-1-207-4000). Trintech can
be reached on the Web at http//www.trintech.com . Investor information can
be found at http//www.trintech.com/investor.

PayWare Resolve Product Overview

Trintech’s Acquirer 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

About GZS

Gesellschaft fur Zahlungssysteme (hereinafter called GZS) is situated in
Bad Vilbel, Germany, not far from Frankfurt am Main. Its business activities
involve the professional processing of cashless and card-based payments, as
well as the development on new, electronic payment systems. GZS’ clients are
banks, savings banks, acquirers, merchants and retail companies. GZS offers
it’s affiliated banks issuing processing for the EUROCARD and VISA brands. In
Germany, it has a market share of over 65 percent for EUROCARD issuing
processing. In addition to this, GZS also processes cross-border eurocheque
transactions and offers a wide range of point-of-sale services these include
the processing of EUROCARD and VISA transactions generated by companies
accepting these cards, the settlement of all popular electronic payment
systems and the sale of innovative card terminals. With credit card
transactions effected in the Internet being encrypted using the SET standard,
GZS is also an active proponent of secure electronic commerce.


Employee Rewards VISA

Clarity Incentive Systems, Inc., the leading provider of customized marketing and incentive programs, announced that it has entered into an agreement with Motivano, the market leader in employee benefits, human resource services and reward and recognition programs, to enhance Motivano’s employee incentive program infrastructure. Clarity will install its debit-based payment platform, which will enable Motivano and its clients to deposit rewards into employee accounts in real-time. Employees can then redeem rewards wherever Visa is accepted, including the Motivano discount marketplace.

Clarity will also provide Motivano with a suite of sophisticated program administration tools including communication, tracking and CRM capabilities that are available entirely online – making implementation and modification of employee incentive programs quick and easy for both Motivano and its clients. These tools enable Motivano and its clients to perform modifications such as adding participants and increasing their available funds – all in real-time.

“Clarity’s platform has completely transformed our employee incentives programs, offering us significant flexibilities and efficiencies in servicing our clients,” said Mark Keck, executive vice president at Motivano. “Clarity’s innovative combination of Internet-enabled technologies with their incentive and marketing programs, give us the ability to deliver instant rewards, hosted in a company branded website and managed by Motivano.”

The Motivano program exemplifies the wide scope of initiatives that Clarity can create for its clients. Employing scalable technologies, Clarity creates a full range of marketing and incentive programs to help businesses boost the acquisition, retention and loyalty of their customers, employees and business partners. Clarity manages every aspect of these programs including development, account creation, reporting, administration, evaluation and participant support services.

“Clarity’s partnership with Motivano demonstrates the tremendous power and innovation behind our payment technology, as well as the scalable nature of our marketing and incentives programs,” said Blake Chandlee, senior vice president of sales and business development at Clarity Incentive Systems. “We are delighted to provide Motivano the tools and infrastructure necessary to offer their clients comprehensive employee incentive programs that are efficient, customizable and cost effective.”

About Clarity Incentive Systems

Founded in August 1999, Clarity Incentive Systems ([www.clarityis.com][1]) provides a full suite of payment and incentive technologies customized to help businesses enhance the acquisition, retention and loyalty of customers, employees and business partners. Through issuing and processing relationships with leading financial institutions, the Company combines Internet-enabled technologies with a proprietary payment platform that allows rewards to be redeemed through the Visa network. Clarity Incentive Systems is funded by the Espirito Santo Financial Group and Allfirst Financial, Inc. The Company is headquartered in New York City with an office in Lisbon, Portugal.

About Motivano

With over 3,000 corporate clients and their 800,000 employees utilizing it’s services, Motivano is one of the leading providers of on-line and off-line Employee Benefits & Human Resource Services. Motivano offers a broad portfolio of products and services to clients ranging in size from 50 to over 200,000 employees. Motivano’s products and services, which help companies save time and money as well as attract, retain and motivate their employees, include web-based HR and employee communication tools, innovative smart card incentive and flexible spending account programs and a savings marketplace.

Motivano has offices in New York, Tampa and London and is available through [www.motivano.com][2].

[1]: http://www.clarityis.com/
[2]: http://www.motivano.com/



North American merchants can now take full advantage of
advances in network communications to improve operating efficiency and lower
costs. Moneris Solutions, a North American leader in electronic payment
processing, announced a new solution, which connects retail payment
terminals to IP networks.

This solution, which uses IP enabling technology developed by Precidia
Technologies, connects retailer’s existing debit and credit payment terminals
to either a Virtual Private Network (VPN) or to their internal company
intranets. Precidia’s Ether3201 and IP3201 devices perform protocol conversion,
providing the bridge between existing processing equipment and newer, more
advanced IP networks. This joint solution is not only cost effective, but is
quick and easy to install.

“Retailers can now take advantage of the phenomenal advances made in IP
networking over the past 10 years,” said Brian Green, Vice President, North
American Marketing for Moneris Solutions. “Today’s merchants oversee large
amounts of data, from loyalty programs to inventory and purchase pattern data;
however, accessing and managing that information from the front line has often
been difficult. By offering this solution, Moneris is allowing retailers to
access this vital information, in a manner that is cost-effective and requires
no changes to current systems. This offering is yet another example of Moneris’
commitment to meeting the changing needs of their North American retail

For retailers, the key benefits of this solution are compatibility with
existing point of sale hardware, ease of deployment and cost savings. The
system is simply and quickly implemented in any retail environment, whether
connecting to the Carrier’s VPN or internal company intranets. It is compatible
with existing point of sale systems, without any changes to either the terminal
or host infrastructure. Merchants may reduce their network communications costs
by eliminating costly dedicated leased lines. Implementing this solution today
opens up the possibility for numerous new services, including better
transaction management and customer retention services.

About precidia Technologies

Precidia Technologies is a leader in the design and manufacture of IP enabling technologies. Precidia’s advanced IP technology seamlessly migrates debit and credit payment terminals onto more sophisticated IP networks. Precidia’s unique product line consists of cost-effective access devices and chip technology. For more information, visit Precidia on the web at www.precidia.com.

About Moneris Solutions

Moneris Solutions is a joint investment between Royal Bank and Bank of Montreal. Moneris provides small, medium and large businesses with the widest range of technologically advanced point-of-sale solutions designed to electronically process credit and debit card transactions, help improve business efficiency and manage point-of-sale information. Moneris offers a single point of access into the technologically sophisticated, constantly changing world of payment card acceptance at point-of-sale. Created in December 2000, Moneris is one of North America’s largest merchant processing companies.


Preferred Line

While most VISA/MasterCard business credit cards carry no annual fee, Capital One has come up with an innovative way to charge a $99 annual fee. This month, Capital One is soliciting small business owners for a “Business Line of Credit” of up to $10,000. The credit line is linked to the ‘Preferred Line VISA’ and carries a $99 annual fee, which is waived for the first year, according to CardWatch ([www.cardwatch.com][1]). Unlike other business card programs, the Cap One Preferred Line VISA does not charge cash advance fees. The program is available in three levels, similar to Cap One’s other business card offerings. The levels are based on the credit risk developed by the business credit report and the personal credit report of the signatory or guarantor. The first level offers a prime +1.4% APR, the second level carries a prime +8.4% rate, and the third level has a prime +11.25% interest rate. All levels offer a 5.9% introductory rate through Nov 2001.

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



HNC Software Inc. announced that Visa Desjardins, a subsidiary of the
Mouvement des caisses
Desjardins and the primary issuer of Visa cards in Quebec, will implement
Falcon(TM), HNC’s industry-leading payment card fraud detection system, to
enhance the fraud detection capabilities for its credit card portfolios.
“We look forward to enjoying the reduced fraud rates that other Canadian card
issuers are seeing with Falcon,” said Louise Paquette, chief security officer
at Visa Desjardins. “We’ve always provided the highest level of fraud detection
for our merchants and cardholders, and augmenting our systems with Falcon is
the logical next step to match our aggressive portfolio growth strategy over
the next few years.”

After years of 40 percent annual card fraud growth during the latter part of
the 1990’s, Canadian credit card issuers are starting to see a decline in fraud
rates due to their increased use of neural network fraud detection solutions.
According to the Canadian Bankers Association, credit card fraud cost Canadian
financial institutions and card issuers nearly $227 million (Canadian)
(approximately $156 million US) in 1999. This figure dropped to $203 (Canadian)
million for the 12-month period ending June 30, 2000, indicating that best
practice fraud detection solutions such as Falcon are gaining traction in the
war against card fraud. Verifying this trend, Visa Canada reported 1999 credit
card losses at $150 million (Canadian), and had projected losses in 2000 to top
the $200 million mark. Instead, losses from card fraud dropped approximately 40
percent for the year. HNC’s list of Canadian Falcon customers includes major
institutions such as CIBC, Toronto Dominion, and Canada Trust.

“We’re glad that Falcon is helping stem the tide of payment card fraud in
Canada, as it has done in the United States and overall in North America,” said
Michael Chiappetta, vice president of customer analytics for HNC Software.
“We’re confident that Visa Desjardins will gain the reduced credit and debit
card fraud rates with Falcon with which our other Canadian customers have

Falcon, a neural network-based predictive software system that examines
transaction, cardholder, and merchant data to detect a wide range of payment
card fraud, currently protects more than 400 million payment card accounts

About Mouvement des caisses Desjardins

With more than 36,000 employees and overall assets reaching $80 billion, the
Mouvement des caisses Desjardins is the top financial institution and the
largest private employer in Quebec. It is the only institution to offer a full
range of financial products and services through its network of caisses (ATM’s)
located throughout Quebec. In addition, Desjardins is a leader in Quebec in
terms of e-commerce with more than 1.5 million visits per month. It’s Web site,
www.desjardins.com, is the most frequented
site in Quebec and second overall in Canada. 28,000 companies are already using
its AccesD Affaires business service. The Mouvement Desjardins’ mission is to
contribute to the economic and social well being of individuals and

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.


CIBC Cards

Canada’s CIBC reported this week that revenue for its cards unit was $312 million for the quarter ending Apr 30, up $88 million from the year ago quarter. The sharp rise was primarily due to the $58 million gain on the sale of the Merchant Card Services business. However a 21% growth in average balances and a 21% increase in purchase volumes also drove revenues higher. On March 20, CIBC sold its Merchant Card Services business to Global Payments Inc. in return for a 26% equity interest in the company. Global Payments formed a 10-year marketing alliance with CIBC to offer credit and debit card payment products and services to merchants in Canada.



Trintech Group PLC announced a strong set of first
quarter results for the period ended April 30, 2001.

— Trintech Group plc’s revenue grew by 93% to $17.0 million, compared
with $8.8 million for Q1, FY2001

— Software license revenue increased by 83% to $7.6 million, reflecting
solid demand for secure payment infrastructure solutions, in particular
our real world product set

— Pro forma gross margin grew 85% to $8.6 million

— Pro forma basic and diluted net loss per ADS was ($0.09)

— Reported basis and diluted net loss per ADS was ($0.30)

Trintech has decided to disclose pro forma as well as reported figures,
starting this quarter, to increase transparency and provide information to
investors on cash generation and utilization. Pro forma results this quarter
exclude restructuring charges and non-cash items, such as stock compensation
charges, depreciation and amortization of goodwill and purchased intangible

John McGuire, Chief Executive Officer, commenting on results expressed
confidence in Trintech’s ability to perform in the current environment.
“I am pleased and delighted to announce strong Q1, FY 2002 results which
demonstrate our continued focus on financial execution. Our first quarter
license revenue growth, despite continuing demanding economic conditions,
reflects this commitment to execution as we move forward on our path to
profitability. We continue to press ahead with our organic growth and
acquisition integration, focused on delivering flexible solutions, which show
real financial returns and cost reductions in our customers’ businesses. Our
recent announcements with Princeton eCom, PayPal and Sterling Commerce clearly
demonstrate our commitment to the multi-platform potential of our PayWare
product set as we extend our leadership in the payment space,” said McGuire.

“Continued sales momentum and execution, fuelled by growth in software
license fees, with measured investment in key business activities, such as
research & development and sales & marketing are the key drivers for top line
growth. Combined with tight cost control and successful integration of the
acquired businesses they are the key elements underpinning our return to
profitability. We made solid progress in Q1 on all four elements, including
our pro forma operating expense cost base which declined sequentially allowing
for the full quarter impact of acquisition consolidation as we started to see
cost benefits from the restructuring and acquisition integration processes,”
said Paul Byrne, Chief Financial Officer.


Revenue for the first quarter ended April 30, 2001 was $17.0 million
compared with $8.8 million for the corresponding quarter ended April 30, 2000,
an increase of 93%.

The growth in revenue resulted from continued solid demand for Trintech’s
secure payment infrastructure solutions. This demand drove first quarter
software license revenue to $7.6 million, an increase of 83% over first
quarter license revenue last year of $4.1 million. Product revenue increased
47% to $6.0 million for the quarter. Service revenue rose 489% from
$0.6 million for the first quarter last year to $3.4 million for the
first quarter ended April 30, 2001.


The significant increase in high margin software license revenue drove pro
forma gross margin up 85% to $8.6 million from $4.6 million, representing an
increase of $4.0 million over the first quarter last year.


In the first quarter ended April 30, 2001, Trintech continued its
investment to build a global organization and develop innovative secure
commerce payment infrastructure solutions. As a result, pro forma sales
& marketing expenditure grew 50% to $5.2 million from $3.5 million in the
prior year as we expanded our sales & marketing headcount, extended our global
footprint, increased our marketing effort and broadened our sales efforts
through the acquired companies. Pro forma research & development spending
grew by 48% to $6.2 million over the corresponding quarter last year
reflecting continued investment in extending our technological leadership in
the payments market and the R&D investments being made by our acquisitions.
Pro forma general & administrative expenditure increased by 100% percent to
$4.2 million as we built out our global infrastructure and took on the
infrastructure of the businesses we acquired.

Operating expenses remained relatively flat sequentially even though Q1
FY02 is the first quarter that the acquired businesses have been consolidated
on a full quarter basis. Offsetting the timing impact of the acquisitions are
some of the cost savings implemented as part of the restructuring program. As
the benefits of the program are realized, we expect to see pro forma operating
expenses decline as a percentage of revenue over coming quarters.


Pro forma basic and diluted net loss per equivalent American Depository
Share (ADS) for the quarter ended April 30, 2001 was $(0.09) compared with the
pro forma basic and diluted net loss per ADS of $(0.09) for the corresponding
quarter ended April 30, 2000. Reported basic and diluted net loss per
equivalent American Depository Share (ADS) for the quarter ended April 30,
2001 was $(0.30) compared with the reported basic and diluted net loss per ADS
of $(0.13) for the corresponding quarter ended April 30, 2000.


In this quarter the company recorded expenses totaling $12.7 million,
equivalent to $0.21 per ADS, including non cash expenses of $10.2 million
which were not included in the pro forma net loss for quarter one

— Once-off re-structuring charge of $2.5 million, equivalent to $0.04 per
ADS, to cover staff reductions and costs related to the closure of excess
facilities as we seek to gain optimum benefits from natural synergies with the
acquired businesses and seek to concentrate on products with the highest
earnings potential

— Depreciation of $0.7 million, equivalent to $0.01 per ADS

— Amortization of goodwill, for our four acquisitions, of $6.8 million,
equivalent to $0.11 per ADS

— Amortization of purchased intangible assets of $1.0 million, equivalent
to $0.02 per ADS

— Amortization of acquired technology of $1.1 million, equivalent to
$0.02 per ADS

— Stock compensation charge of $0.6 million, equivalent to $0.01 per ADS
in relation to stock options granted in 1999 at market value to the members of
the Company’s Advisory Board and to MasterCard as part of a strategic alliance
with the Company


— Trintech announced the release of its evolutionary umbrella payment
security architecture solution, PayWare Guardian, this quarter. The PayWare
Guardian security suite encompasses a range of powerful security modules that
verify cardholder identity and that authenticate their transactions. The
Guardian product offering provides a level of choice, flexibility and
integration between security standards, including SSL; SET; biometrics, unique
random number and voice verification, previously unprecedented in payment
product solutions.

— Princeton eCom, a recent customer win for Trintech also signed a
marketing and distribution alliance agreement with the Company. Princeton
eCom is a leading solutions provider in the billing and payments area for some
of the top billers in the telecommunications, mortgage and financial services,
utility, and cable industries. The integration of Trintech’s PayWare
eIssuer(TM), PayWare eAcquirer(TM) and mAccess(TM) server technology enables
Princeton eCom to substantially expand its service offerings in eCommerce and

— Trintech reinforced its Advisory Board with two new appointments this
quarter. Dennis Goggin and Paddy Byrne were appointed Regional Directors
representing Asia Pacific and Europe on the Advisory Board. Dennis Goggin
previously served as President and CEO of VISA International/Asia Pacific
Region. His extensive payment and card association experience will be
invaluable to the Trintech team. He brings extensive Asia Pacific market
knowledge as a result of his highly visible campaign to position Visa as the
charge card and debit card leader in the Asia Pacific Region.

Paddy Byrne was the former Head of Payments, Credit Card, Electronic
Business and Information Systems in Bank of Ireland for more than twenty
years. In addition, his external financial services roles have included
Chairman of the Irish Payment Services Organization and Irish Banks Nominee on
the European Payment Strategy Group.

— Trintech and Motorola, a global leader in integrated communications and
embedded electronic solutions, demonstrated the mWallet product solution at
the annual CeBIT conference and exhibition last March. Trintech’s innovative
wallet technology for secure wireless transactions is the basis of Motorola’s
m-Wallet, which was launched at the GSM World Congress in February, at Cannes,
France. The m-Wallet is a server based, innovative wireless payment solution
that enables consumers to pay for Internet purchases using their mobile

— Trintech gained a new strategic partner in Sterling Commerce, a wholly
owned subsidiary of SBC Communications, Inc. and a worldwide leading provider
of business-to-business electronic commerce software and banking application
solutions. This partnership broadens the distribution and sales leverage for
Trintech’s ReconNet payment reconciliation solution and allows Sterling
Commerce to further expand its offerings to the banking industry.

— PayPal, the world’s first and largest Internet-based person-to-person
payments service signed a deal with Trintech in March for the implementation
of its Issuer Chargeback System (ICS) into PayPal’s customer management
system. The implementation of Trintech’s dispute management software supports
PayPal’s recent initiative to issue co-branded MasterCard debit cards to
business users among its six million plus customers.

About Trintech

Trintech is a leading provider of secure electronic payment infrastructure
solutions for real world, Internet and wireless transactions. The company,
founded in 1987, offers a complete range of payment software products for
credit, debit, commercial and procurement card applications. Trintech’s
secure product range is deployed in over 35 countries worldwide and covers the
payment requirements of consumers, card issuing banks, merchant acquiring
institutions, merchants, eMerchants, telcos, wireless operators, ISPs/CSPs,
Portals and large corporations. The Group’s range of scalable, open systems
architecture solutions for UNIX(R) and Windows NT(TM) platforms covers
consumer, merchant and financial institution requirements for all card-based
payments, including eCommerce and the emerging world of mCommerce. Trintech
can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94403
(Tel 650-227-7000) and in Ireland at Trintech Building, South County
Business Park, Leopardstown, Dublin 18 (Tel 353-1-207-4000).


Mobile POS

TX-based Wincor Nixdorf introduced an untethered POS system yesterday as part of its ‘BEETLE’ family of POS systems. For retailers, the new mobile system eliminates the problem of customers tripping over cables during sidewalk sales. The new ‘BEETLE Mobile POS’ system uses a DC power supply mounted on a cart, powered by a standard 12-volt gel cell battery which delivers up to 17 hours of continuous operation. The system connects to the retail store network using standard wireless LAN components from Symbol Technologies. The system is self-contained within a rolling cart, allowing it to be wheeled to different locations within the store to serve multiple purposes. It can also be used as a full cash wrap on wheels and as a store management system for inventory, shelf labeling and other functions.



Research from Alpha Card revealed
that Internet usage in Belgium is on the increase, with one in 10 of survey
respondents having made an online purchase in the last 12 months. While this
figure is expected to grow, the survey showed that 40 percent of Belgian
consumers still nurse fears about the security of online transactions.Tackling
these issues head-on Alpha Card is launching the American Express Blue Card,
which is set to boost consumer confidence when shopping both on and offline.
These benefits include an Online Fraud Guarantee for all cardmembers, ensuring
that cardmembers will not be held responsible for unauthorized online
transactions made with their card. The Blue Card is also backed by a 90-day
refund protection guarantee, covering consumers for goods they wish to return
(in the event of a retailer’s refusal to refund).Research revealed that while
consumers were deterred from transacting online because of security concerns,
interest in the Internet is still running high, with 46 percent of respondents
having surfed the Net in the last 12 months. Particularly revealing is that
urbanites are far more comfortable with online shopping than those who live
outside the city, with nearly a third of those who have shopped online hailing
from Brussels.“The American Express Blue Card’s security benefits and features
are extremely relevant in today’s climate,” said Alpha Card Head Peter Fimmers.
“Our research has shown that consumers need the reassurance of a strong brand
with added security features when using their card online.”Other advantages
available to Cardmembers include the ability to access their account online at
www.americanexpress.be. Blue Cardmembers can
check their account balance online ­ a first in the payment card sector. They
can also review their Blue Rewards points balance and check out the rewards
available to them (a ticket for a day at Disneyland Paris or a rental car for a
weekend away, to name just a couple).Set up in July 1998, Alpha Card is a joint
venture company between Fortis Bank ­ the largest Belgian bank ­ and American
Express. Under the terms of the joint venture agreement, Alpha Card was granted
a license to issue American Express branded Cards to consumers and is now a
leading issuer of American Express branded cards in Belgium. Click here for
information.American Express Company is a diversified worldwide travel,
financial and network services company founded in 1850. It is a world leader in
charge and credit cards, Travelers Cheques, travel, financial planning,
investment products, insurance and international banking.* INRA Belgium, Survey
Online Shopping & Credit Cards, May 2001, 280 telephone interviews (target
audience age between 18 and 55).


Providian Grant

Celebrating May as National Older Americans’ Month, Providian Financial Corporation announced a $50,000 grant to the California Community Partnership for the Prevention of Financial Abuse to support the development of county-wide forums to inform elders about fraud, telemarketing scams and how to prevent financial abuse. Providian joins the ranks of a coalition of California banks to combat a growing crisis — the financial exploitation of seniors.

This innovative partnership marks the first time the financial industry, law enforcement, and adult protective services have banded together to help protect California’s seniors.

An estimated 100,000 to 125,000 seniors are victims of financial abuse in California each year. Most of these seniors fall victim to family members or caregivers. In addition, seniors are increasingly targeted for mortgage fraud and investment fraud. The CCPPFA’s preventative programs have trained more than 400 employees at Bay Area banks on how to recognize and report financial abuse. The CCPPFA is instrumental in connecting financial institutions with social service agencies and law enforcement to prevent, report, and investigate suspected financial abuse.

“Financial abuse is a real and growing threat to the well-being of California seniors,” said Chris Lewis, Corporate Affairs Vice President at Providian Financial. “We are pleased to support the CCPPFA’s efforts to prevent financial exploitation of senior citizens.”

Jenefer Duane, Executive Director of the CCPPFA, added, “With the support of companies like Providian, CCPPFA will be able to expand its educational programs throughout the Bay Area, thereby raising community awareness of the problem and promoting resources for seniors who otherwise might fall victim to financial abuse.”

The CCPPFA plans to conduct community forums in Marin, San Francisco, Sonoma, and other Bay Area counties in the coming months.

About the CCPPFA

The California Community Partnership for the Prevention of Financial Abuse (CCPPFA), a nonprofit organization founded by Bay Area banks, is launching a statewide effort to train employees of financial institutions to identify and report suspected abuse of senior customers.

About Providian Financial

San Francisco-based Providian Financial ([http://www.providian.com][1]) is a leading provider of lending and deposit products to customers throughout the U.S., and offers credit cards and deposit products in the UK and in Argentina. A winner of the Rochester Institute of Technology/USA Today Quality Cup for excellence in service, Providian Financial has been named one of America’s Most Admired Companies in a survey by Fortune magazine, one of the nation’s top financial institutions by U.S. Banker magazine, and one of the most technologically innovative companies in the U.S. by InformationWeek magazine. The Company has more than $33 billion in assets under management and over 17 million customer accounts.

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



VeriFone, the worldwide leader in electronic payment solutions,
today announced that it has supplied 1,800 Omni 3350 terminals to
Shell in the first large-scale multi-application terminal
implementation across the United Kingdom.

On June 3, 2001, VeriFone’s leading-edge terminals will be
deployed in Shell service stations across the British Isles to upgrade
the point of sale (POS) to meet customer demand for value-added
services. The first phase of rollout coincides with Shell’s launch of
its new smart card-based loyalty scheme, Shell pluspoints. VeriFone’s
Omni 3350 terminals combine payment capability with the ability to
award loyalty points for purchases made by Shell customers.

The true application separation at the hardware and software level
means VeriFone’s Verix operating system enables the Omni 3350 to run
multiple applications securely on one terminal without compromising
functionality or risking cross-application data corruption. The
presence of the Verix Multi-app Conductor allows data to be shared
between applications, mediates application requirements for hardware
resources, ensures that the appropriate application is launched on the
touch of a key and enables the sharing of functionality between

“Shell has invested in the most advanced multi-application POS
technology available, with a design that supports virtually any need
— now and in the future,” said Peter MacGowan, U.K. account manager
for VeriFone. “We are increasingly seeing the migration to
multi-application. This pioneering move by Shell sees EMV payment
applications, loyalty schemes and mobile phone prepayment services
taking place on one terminal.”

The next phase of rollout will allow customers to reload value
into their prepaid mobile phone accounts using an application provided
by ePay, a mutual partner for Shell and VeriFone. This method of
air-time reloading, or “top-up” as it is known in Europe, simplifies
the process for customers and eliminates the need for Shell to
purchase, store and handle inventories of prepaid scratch cards
carrying monetary value, reducing the risk of theft and fraud.
“By making an investment in this technology from VeriFone, we are
enabling a smooth transition to EMV and ensuring that we can continue
to enhance our retail offering,” said Mike Garrett, retail
communications manager at Shell.

The Omni 3350 uses SoftPay EMV, VeriFone’s advanced e-payment
software, which includes an EMV software module. The combined solution
is EMV Level 1 and Level 2 Type Approved. In addition, the Omni 3350
features an integrated smart card reader, triple-track magnetic-stripe
reader, a 32-bit processor with a 14.4K modem, 3 MB of memory and a
12.5 lines-per-second integrated printer. The terminal can process all
forms of e-payment and feature high performance in a sleek integrated
design with an intuitive ATM-style interface, which lets employees
virtually train themselves.

About VeriFone

VeriFone (http//www.verifone.com) is the
global provider
of secure electronic-payment solutions for financial institutions,
merchants and consumers. VeriFone has shipped more than nine million
electronic-payment systems, which are used in more than 100 countries.



PA-based Internet Clearinghouse launched a service this morning to alert businesses to stolen or fraudulent credit card numbers. The ‘CompromiseAlert’ service, which is updated daily, identifies and notifies businesses of stolen credit card numbers and other identity attributes used in e-commerce transactions that are being distributed across the Internet and used in fraudulent transactions. The system utilizes proprietary technology to obtain stolen credit cards as well as incidents of other online fraud from hundreds of Internet sites, hacker IRC channels and news groups from around the world. ‘CompromiseAlert’ was developed as the result of a cooperative effort between Internet Clearinghouse and Network Intrusion Solutions.