$60 eCashPad to Ship

eConnect announced that the company will now accept eCashPad orders via check or money order.

“We have started the inventory planning process for November and December eCashPad deliveries, and are now accepting payments by check or money order for $59.95, not including shipping,” eConnect spokesperson said.

The eCashPad is a simple and common sense approach to Internet commerce security. The eCashPad enables consumers to use their financial cards and prevents the card data from being seen or stored at the merchant’s web site. These are called Bank Eyes Only(TM) transactions.

Additionally, the usage of the eCashPad with the ATM card with PIN entry will enable real-time cash payments over the Internet.

“eCashPad users will enjoy a 10% discount savings at Artaste.com., which will be eCashPad compliant in November,” said Thomas S. Hughes, founder, chairman and CEO of eConnect, describing the company’s soon-to-launch art-auction site. “We have also had early indications that other companies may be inclined to offer a cash incentive discount to consumers electing to pay with an ATM card with PIN cash payment.”

Orders should be sent with check or money order to:

eConnect 2500 Via Cabrillo Marina San Pedro, CA 90731 Attention: eCashPad Orders Department.

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OPC Signs VA

Official Payments Corporation announced Monday the company has signed an agreement with the Commonwealth of Virginia to provide a service which will enable Virginia citizens to make balance-due tax payments, by credit card, via the Internet or telephone. Taxpayers in Virginia will be able to make these payments by visiting [www.officialpayments.com][1] on the Internet or by calling toll-free 1-800-2PAY-TAX(sm). These new payment channels for tax year 2000 are expected to go live early next year. Virginia will publish information about the service in tax instruction booklets which will be mailed to taxpayers in January. The new contract with Virginia represents the company’s 15th state client. Official Payments provides a variety of tax payment services to the Internal Revenue Service, the District of Columbia, and the states of Alabama, Arkansas, California, Connecticut, Illinois, New Jersey, Maryland, Minnesota, Ohio, Oklahoma and Washington.

“We have all the bases covered in Virginia, as we collect federal, local and now state taxes. We are very pleased with our progress and momentum,” said Thomas R. Evans, Chairman and CEO of Official Payments, Corp. “Our systems process tax payments for over 50 counties and municipalities in Virginia . In our Federal program during the 1999 tax season, we collected over $18.5 million in Individual Income tax payments from over 6,000 Virginia taxpayers. Now those same citizens will be able to use our systems to make their state tax payments,” Mr. Evans added.

“This new payment method is part of our on-going effort to provide our citizens with a high level of service,” said Danny M. Payne, Virginia’s Tax Commissioner. “These Internet and telephone payment channels will give Virginia citizens an additional payment choice and the ability to make their tax payments to the Commonwealth 24-hours-a-day, seven-days-a-week from the comfort of their home or business,” added Payne.

Official Payments will charge Virginia taxpayers a convenience fee for processing these credit card transactions. The fee schedule can be found at [www.officialpayments.com][2]. For example, a taxpayer who owed Virginia $900.00 and charged their taxes would find a total of $922.50 on their credit card statement: $900.00 for the tax bill and $22.50 for the convenience fee. American Express, Discover Card, and MasterCard are the credit cards accepted by the program. Taxpayers using credit cards with bonus rewards programs can, depending on their card’s program, earn rewards, points, and cash-back or airline frequent flyer miles for paying their taxes.

About Official Payments Corporation.

Official Payments Corporation is the leading provider of electronic payment options to government entities. The company enables consumers to pay government fees and taxes via telephone or the Internet, using their credit cards. The company has partnered with the Internal Revenue Service; several state governments, including Alabama, Arkansas, California, Connecticut, District of Columbia, Illinois, Maryland, Minnesota, New Jersey, Ohio, Oklahoma And Washington state; and over 550 municipal and county entities, in which it collects income taxes, property taxes, real estate taxes, parking fines, sales and use taxes and other government fees by credit card over the telephone and the Internet. In the 1999 tax year, Official Payments collected and processed over $575 million in federal income tax payments on behalf of the Internal Revenue Service. The company is publicly traded on Nasdaq under the symbol OPAY. Official Payments Corp. is committed to making payments to the government go fast, smart and safe.

[1]: http://www.officialpayments.com/
[2]: http://www.officialpayments.com/

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Xmas Card War

Competition among the industry’s top players remains very strong during the 2000 pre-Christmas solicitation period according to CardWatch. At least four major issuers are dangling short-term 0% intro APRs in front of U.S.consumers while other issuers are offering low single digit APRs for 9 months or more. The new Fleet ‘Fusion smart VISA’ offers a six month 0% APR for new purchases only. Providian’s ‘Platinum VISA’ offers a 0% intro rate on new purchases and a 2.99% intro rate for balance transfers. Discover recently cut its ‘Platinum Discover’ intro APR offer from 2.9% to 0% for purchases and 5.9% for balance transfers. Capital One’s brand new ‘Kmart MasterCard’ is offering a six month 0% rate on Kmart purchases only. Despite a marketing pullback this year, First USA is hitting mailboxes with a new ‘Titanium VISA’ offer with a 1.9% intro APR that requires a balance transfer and a 3% balance transfer fee. The Citigroup ‘Universal Platinum MasterCard’ is also alive and well with a 2.9% intro, good thru July, for balance transfers of more than $3,500, otherwise a 3.9% intro rate for balance transfer applies. Chase is offering a nine month intro rate of 2.99% on its ‘Platinum MasterCard’ that applies only to balance transfers. Affinity card king, MBNA is heavily promoting its ‘L.L. Bean Platinum VISA’ this season with a 3.9% intro APR that applies to cash advance check transactions or balance transfers. CT-based People’s Bank is offering a six month 4.9% intro APR on its ‘Platinum MasterCard’ that applies to new purchases and balance transfers. Finally, Bank of America’s ‘Platinum VISA’ is promoting an 8.9% intro rate that applies to balance transfers until paid in-full and to new purchases for six months.

TOP 10 PRE-XMAS OFFERS FOR 2000
ISSUER PRODUCT INTRO PERIOD GO-TO
1. Fleet Fusion smart VISA 0% 6 mos. f11.99%
2. Providian Platinum VISA 0% 3 mos. P+5.49%
3. Discover Platinum 0% 4/01 f14.99%
4. Capital One Kmart MasterCard 0% 6 mos P+10.3%
5. First USA Titanium VISA 1.9% 5/01 P+5.90%
6. Citigroup Universal Platinum MC 2.9% 7/01 P+5.99%
7. Chase Platinum MC 2.99% 9 mos P+5.49^
8. MBNA L.L. Bean Platinum VISA 3.9% 2/01 f16.99%
9. People’s Bank Platinum MasterCard 4.9% 6mos. f13.90%
10. Bank of America Platinum VISA 8.9% 6 mos P+7.9%

f-fixed; mos.-months; P-Prime Rate
Source: CardWatch
(www.cardwatch.com)

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MICRImage Reader

Mag-Tek, an internationally known manufacturer of MICR check readers and magnetic stripe card readers, introduced MICRImage, a highly accurate MICR check reader and image scanner. MICRImage is designed to facilitate check conversion and reduce costs associated with check processing in all point-of-sale environments ranging from a single-lane store to multi-lane retailers. The MICRImage, backed with years of renowned Mag-Tek expertise in MICR check reading technology, has image scanning capabilities to instantly capture the image of a check for electronic processing.

In a typical check conversion application, a check is fed through the MICRImage, enabling MICR data to be captured while the check is scanned and imaged. The customer simply signs an acknowledgment that the transaction will be processed electronically, and the check is handed back to the customer. The entire check transaction is then processed electronically, eliminating all handling, sorting and processing, while reducing risk by capturing important customer information to aid the collection process of returned checks. “The design of the MICRImage has been well received,” said Tom McGeary, president of Mag-Tek. “The progressive design is not only attractive, but it provides visual cues to enhance ease-of-use for the cashier. The ergonomic shape of the MICRImage provides optimum functionality for the POS environment.”

An innovative feature allows the user to slide the case out for cleaning the check path and scanner, if needed.

The MICRImage provides multiple interfaces, including Ethernet to easily network multiple units on a LAN. The design also incorporates smart cable management, integrating the data and power functions through a single locking connector on the unit. The MICRImage is fully programmable, easy to integrate and priced very competitively, making imaging technology readily accessible at the point of sale.

Mag-Tek Inc. ([www.magtek.com][1]) manufacturers an ever-expanding line of MICR check readers, magnetic stripe and smart card readers and encoders for financial institutions, retailers and OEMs. Mag-Tek also offers comprehensive solutions for card issuance, customer selected PIN and ATM/Debit card activation. Mag-Tek is headquartered in Carson, CA with sales offices throughout the United States, Europe and Asia, along with an international distribution network in over 40 countries. Mag-Tek technology is used in millions of financial and POS transactions utilizing checks, debit cards and credit cards; at retail checkouts, banks and other financial businesses, automated gas pumps, kiosks, pay phones and airplane seat phones throughout the world. For more information on Mag-Tek and Mag-Tek products, call 888/624-8350 or visit [http://www.magtek.com][2].

[1]: http://www.magtek.com/
[2]: http://www.magtek.com/

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PSiGate Restructure

Payment Services Interactive Gateway Corp., formerly Corona Investments Inc., announced Friday it has completed its acquisition of Payment Services Interactive Gateway Inc., known as PSiGate Inc. PSiGate Inc. is now a wholly owned subsidiary of PSiGate Corp. Prior to the ompletion of the transaction, a settlement was reached between PSiGate Inc. and Spinnaker Capital Corp. whereby the Corporation agreed to issue to Spinnaker stand alone options. PSiGate Corp. is a Mississauga, Ontario-based company that specializes in the integration and deployment of Internet-based, e-commerce solutions that enable the automated, secure exchange and transmission of electronic data for the purpose of fulfilling orders and payments and obtaining credit card or cyber wallet payment authorizations.

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Sprint Kiosks

Sprint has awarded NCR Corp. a $5 million contract to install bill payment kiosks in Sprint PCS retail stores nationwide. The ‘Automated Payment Center’, expected to start deployment in the fourth quarter, includes the NCR Web Kiosk, integrated scanner and receipt printer, and accepts cash, check and credit cards for Sprint PCS customers’ airtime bill payments. Web-enabled kiosks can be programmed to perform myriad services in addition to bill payment, such as helping consumers locate products, check product availability, access product information and receive relevant promotions.

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Citigroup Hires Medina

Citigroup announced the appointment of David Medina as Director of Global Compliance for Citigroup. In this role, Mr. Medina will have responsibility for coordination of the compliance function throughout Citigroup.

“As a world leader in financial services, it is critically important that we strive to continually strengthen our compliance infrastructure. We are looking to David to provide important leadership in helping the many compliance professionals in Citigroup to work together as a dynamic and innovative team. During his years in government, David has demonstrated his management talent and his commitment to the highest standards of integrity in compliance. I am confident he will be able to lead our efforts,” said Charles Prince, Citigroup’s Corporate Secretary and General Counsel.

For the last 6 years, Mr. Medina has worked in a series of senior positions at the U.S. Treasury Department in Washington, DC. Since 1997, he has served as Deputy Assistant Secretary for Enforcement Policy, with responsibility for compliance, oversight, policy development and management of the U.S. Treasury Department’s enforcement mission. Prior to this position, Mr. Medina was the Director of the Office of Enforcement Policy Development as well as a Policy Advisor to the Under Secretary for Enforcement, focusing on such issues as money laundering and financial crime. Before joining the Treasury Department, he worked as a litigation attorney in the private sector where his clients included large banks and financial institutions. Mr. Medina received a Bachelor’s degree in Government cum laude in 1985 from Harvard College and went on to receive his J.D. from the Columbia University School of Law in 1988. Citigroup (NYSE:C), the most global financial services company, provides some 100 million consumers, corporations, governments and institutions in over 100 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, CitiFinancial and Primerica under Citigroup’s trademark red umbrella. Additional information may be found at [www.citigroup.com][1]

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

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3Q/00 Issuer Stats

Growth in receivables during the third quarter appears much stronger than 2Q/00, according to CardData. Portfolio results coming in Friday show growth in active accounts to be flat for 3Q/00 but a solid increase in both receivables and volume. Average balance per active account for Pentagon Federal Credit Union hit $2,930 for 3Q compared to First National Nebraska’s $2,114. Meanwhile Arkansas-based low-rate specialist Simmons First National posted an average balance per active account of $1,482 compared to Intrust Bank’s $1,772 and Suncoast Schools Credit Union’s $1,682. Results from major players are expected this week in CardData’s 3Q/00 Portfolio Survey of 350 top U.S. issuers.

3Q/00 PORTFOLO RESULTS

ISSUER OUTSTANDINGS ACTIVES
Frst Natl NE $3,367,262,000 1,592,599
Pentagon FCU $ 434,878,573 148,429
Simmons Frst $ 185,656,789 125,287
Intrust Bank $ 162,854,829 91,916
Suncoast Sch. FCU $ 108,768,908 64,659

Source: CardData (www.carddata.com)

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BannerDirect Promotes Maus

Today, BannerDirect announced that Trudy Maus has been promoted to creative director, spearheading the creative department in Wilmington, NC, effective October 10, 2000. Ms. Maus will be reporting directly to Christine Fontana, president of BannerDirect. “Trudy has worked with BannerDirect for years as a production manager; we were already impressed with her excellent work and are very excited that she has been promoted to head the creative team as well,” says Ms. Fontana.

Based in Wilmington, NC, Ms. Maus will be responsible for managing the creative development of all direct marketing campaigns for BannerDirect’s clients, from direct mail packages, print ads, logo and card design to email messaging and web site copy and design. Ms. Maus will also manage the company’s in-house creative department as well as its outside creative alliances that include art directors, graphic designers, copywriters, illustrators and photographers.

“Her years at BannerDirect, her input into the creative aspect of our programs, her direct mail knowledge and her organizational abilities all make Trudy the right choice for the position,” says Ms. Fontana.

Having originally joined BannerDirect over eight years ago, Trudy Maus’s prior positions in the company include production manager, senior production manager, and production director, a position she will hold concurrently with her new position. She attended the University of North Carolina in Wilmington where she received her BS in Marketing in 1991 and her MBA in 1997. Ms. Maus currently resides in Wilmington, NC, with her husband, Marc.

BannerDirect is a full-service direct marketing agency recognized for the development and execution of direct response marketing programs for clients in the financial, entertainment, telecommunications, association, retail and medical industries. Its services and expertise include: comprehensive marketing strategy and planning, creative development, production management, list procurement, list processing and data analysis. A recognized leader in card marketing, BannerDirect is headquartered in New York City; production, creative coordination and fulfillment are managed from BannerDirect’s Wilmington (NC) office, with sales offices in New York City, Milwaukee (WI), Carson City (NV), Charlotte (NC) and Brightwaters (NY).

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724 + Brodia

Mobile access to financial information, personal commerce services, and anytime, anywhere shopping will soon be at consumers’ fingertips. Software infrastructure developer 724 Solutions Inc. and Brodia, a personal commerce and payment infrastructure company, signed an agreement to enable interoperability between the 724 Solutions Financial Services Platform and Brodia’s mobile wallet services.

The agreement extends the capabilities of 724 Solutions’ financial services infrastructure software with a gateway-level connection to Brodia’s Identity Management System (IDMS). The resulting service will allow consumers to securely access their credentials stored in the IDMS, and securely perform transactions on a variety of browser-enabled mobile devices accessing FSP- based financial services.

“Enabling mobile access and connectivity to best-in-class e-commerce applications like the Brodia IDMS represents the fulfillment of another key piece of the 724 Solutions m-commerce plan,” said Chris Jarman, executive vice president, m-Commerce, 724 Solutions Inc. “Both companies’ commitment to developing solutions that simplify consumers’ lives and to offering the highest level of financial institution-grade security will make this integrated technology a winning choice for financial institutions, merchants and mobile carriers throughout the world.”

Work to enable interoperability between the two technologies will begin immediately.

“Brodia’s digital wallet, made universally available, is a fundamental building block for mobile commerce,” said Brodia Chief Executive Officer Ron Martinez. “By integrating this core Brodia platform service with the 724 Solutions FSP, we’re working to rapidly make mobile commerce a simple, useful and valuable option for consumers.”

This agreement furthers 724 Solutions’ commitment to developing open, flexible and scalable solutions for the financial services industry. Since its first mobile commerce initiatives were announced last spring with companies like MasterCard, and Bank of Montreal with Canadian retailer Indigo.ca, 724 Solutions has moved quickly to bring together valuable elements to build-out its m-commerce strategy — including the recent acquisition of Spyonit.com to enable the TellMeWhen vision of notification technology, and now this interoperability agreement with Brodia.

About 724 Solutions Inc.

724 Solutions provides an Internet infrastructure solution to financial institutions that enables them to offer personalized and secure mobile banking, investment, and commerce services across a wide range of Internet- enabled wireless and consumer electronic devices. The company provides end- to-end customer support through its global application hosting and contact centre services. 724 Solutions’ customers comprise world-class financial institutions that total 165 million customers. 724 Solutions’ common shares are listed on the NASDAQ National Market (SVNX) and The Toronto Stock Exchange (SVN). Headquartered in Toronto, Canada, the company has offices in London, San Francisco, Sydney, and Tokyo. For additional information visit .

About Brodia

Brodia () provides the premier platform and core applications to enable personal commerce, payments and identity management on any mobile or other network-connected device. The company’s services are available through a range of the largest financial institutions whose collective customer base is in excess of 200 million. Based in San Francisco, and with offices in New York and in Paris, the company is funded by Draper Fisher Jurvetson and Capital Z.

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GCA Signs 7 More

The new Greektown Casino in Detroit and six other properties recently signed contracts to utilize the technologically advanced products and services of Global Cash Access, a supplier of cash access, financial management and customer relationship marketing technologies to the gaming industry.

Under the agreement, Greektown Casino will take advantage of GCA’s full suite of cash access services as well as QuikMarketing and Central Credit. “As a luxurious new casino, we want to share the news of our grand opening directly with potential customers,” said Michael V. Mecca, chief operating officer at Greektown Casino. “GCA’s QuikMarketing product gives us access to exactly the kind of guests who will really enjoy coming to Greektown Casino.”

Properties that recently signed agreements with GCA are:

— Greektown Casino – Detroit, Mich. — Binion’s Horseshoe Club – Las Vegas, Nev. — Hotel Matun – Santiago, Dominican Republic — Hotel Playa Dorada – Complejo Playa Dorada, Dominican Republic — Sunland Park Racetrack and Casino – Sunland Park, N.M. — Ella Star – Miami, Fla. — Club Rio – San Fernando, Trinidad, West Indies

Scheduled to open November 10, Greektown Casino is located in the heart of Greektown, Detroit’s fun-town neighborhood. A total entertainment destination, Greektown Casino will feature 2,400 slot machines and 104 table games in 75,000 square feet of luxurious Mediterranean-themed gaming space. Global Cash Access was formed in 1998 and is a joint venture of First Data Corp. (NYSE:FDC) and USA Processing, Inc. Providing access to the gaming industry’s largest patron database, Global Cash Access uses Internet technologies to deliver funds transfer, financial management and customer relationship marketing services to more than 1,000 gaming properties nationwide.

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Cap One Tests Sprint Offer

Capital One Financial Corporation and Sprint PCS have entered into an agreement to test direct marketing initiatives for growth potential in incremental customers for Sprint PCS.

Capital One, through its telecommunications subsidiary, America One Communications, will use its proprietary Information-Based Strategy (IBS) to identify and test new market segments for Sprint PCS. Using IBS, Capital One links one of the world’s largest databases with highly sophisticated analytics to create offers tailored to customers’ individual needs. Sprint PCS will provide wireless services, billing and network infrastructure for accounts developed through this marketing agreement.

“We’re pleased to be working with a wireless industry leader like Sprint PCS,” said N. Andrew Cohen, president of America One. “We can leverage their nationwide, all-digital network and powerful brand identity while focusing on Capital One’s core strength, which is targeted marketing using our information-based strategy.”

America One will discontinue its operations as a wireless reseller. The company has sold 72,000 wireless customer accounts to Sprint PCS in a transaction that closed prior to September 30, 2000, and is in the process of selling its remaining accounts over the next several months to other telecommunications network service providers.

Headquartered in Falls Church, Virginia, Capital One Financial Corporation ([http://www.CapitalOne.com][1]) is a holding company whose principal subsidiaries, Capital One Bank and Capital One, F.S.B., offer consumer lending products. Capital One’s subsidiaries collectively had 29.4 million accounts and $24.2 billion in managed loans outstanding as of September 30, 2000. Capital One is one of the major financial services providers on the Internet, with on-line account decisioning, real-time account numbering, on-line retail deposits and a growing number of customers serviced on-line. Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 500 index.

About Sprint PCS

Sprint PCS operates the largest 100 percent digital, 100 percent PCS nationwide wireless network in the United States, already serving the majority of the nation’s metropolitan areas including more than 4,000 cities and communities across the country. Sprint PCS has licensed PCS coverage of nearly 270 million people in all 50 states, Puerto Rico and the U.S. Virgin Islands. For more information, visit the Sprint PCS web site at [http://www.sprintpcs.com][2]. Sprint PCS is a wholly-owned tracking group of Sprint Corporation trading on the NYSE under the symbol “PCS.”

Sprint is a global communications company at the forefront in integrating long distance, local and wireless communications services and a large carrier of Internet traffic. Sprint built and operates the United States’ first nationwide all-digital, fiber optic network and is a leader in advanced data communications services. Sprint has $20 billion in annual revenues and serves more than 20 million business and residential customers.

[1]: http://www.capitalone.com/
[2]: http://www.sprintpcs.com/

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