Incurrent CEO

Incurrent Solutions announced Thursday that it has appointed Loren Hulber to the positions of President and Chief Executive Officer, and elected him to the board of directors of the company. Mr. Hulber succeeds company cofounder Mark Betz, who led Incurrent from its inception. Mr. Betz will remain in a key role with the company as Chief Technology Officer, focusing on systems architecture and new development.

“Incurrent has done a marvelous job of seizing the opportunity created by revolutionary changes within the credit banking industry,” said Mr. Hulber. “Our technology leadership and customer list provide us with an impressive foundation for accelerated growth within our core market, and for aggressive expansion into additional markets.” When asked about expansion plans, Mr. Hulber stated that “the company is looking at all strategies, including the potential for synergistic mergers and acquisitions.”

“Loren’s appointment puts us right on plan for implementing the next phase of our strategy, “said Mr. Betz. “Our market, products, and customer base have matured at precisely the right point in Incurrent’s life-cycle, and Loren brings the proven business-building and financial skills we’ll need to achieve the next level of success.”

About Mr. Hulber

Mr. Hulber most recently served as President, Chief Executive, and Chairman of NovaCare Employee Services (now HR Logic), where as founding CEO he took the company from start-up to revenues of $1.3 billion in three years, completing an initial public offering at the end of year one, and ultimately selling the firm to an investment group including Fidelity Ventures, Patricof & Co. and AFLAC, Inc.

Previously Mr. Hulber served as President and Chief Executive of Day-Timers, Inc., where he was responsible for expanding distribution into reseller channels for the first time, generating record results and producing the strongest revenue and profit growth in ten years. He oversaw the expansion of the company into software, acquiring and successfully integrating a leading vendor of time management solutions for PC’s and handhelds. Prior to his experience at Day-Timers, Mr. Hulber was President of Jostens Business Products Group, where he achieved consistent record results in the company’s office products and information packaging businesses.

Mr. Hulber is a member of the Regional Board of Directors of First Union Bank, and served as Vice Chairman of the Board of Trustees of the Lehigh Valley Hospital and Health Network. He was nominated to the 1999 Ernst & Young Entrepreneur of the Year Program.

About Incurrent

Founded in 1997, Incurrent Solutions ([www.incurrent.com][1]) provides advanced multi-channel customer care services to credit banks, transaction processors, and credit marketing organizations. The company’s flagship CardSite system provides a cutting-edge, web-centric customer service solution that enhances the cardmember experience and cultivates account loyalty. Cardmembers enjoy real-time access to account information, statements, bill presentment, secure email, reports, searches, interactive sessions and other service enhancing tools over web, wireless, and voice channels.

Incurrent currently provides interactive customer care solutions to industry leading card issuers including Alliance Data Systems, NextCard, 1stFinancial Bank USA, and Fleet Credit Card Services. With offices in Parsippany, NJ and Orlando, FL, Incurrent combines its industry leading technology with client-defined operating services, complete creative design, and front office integration services to form a cohesive cardmember solution.

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

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Pathways Acquisition

The Pathways Group, Inc. announced Thursday that is has agreed to acquire Ticket Plus, Inc., a privately held computerized ticketing company headquartered in Honolulu, Hawaii, through a combined cash payment and stock transfer. Ticket Plus’ vision of automated ticket-buying convenience has revolutionized how entertainment and event tickets are sold in Hawaii. Ticket Plus gives Hawaiian consumers easy access to event tickets locally and overseas through its 50 plus ticket sales outlets throughout the state of Hawaii. Gross commission from sales for January through April totaled $895,000. Projected commission from sales for the 12-month period from May 2000 to May 2001 is $2,450,000. The structure of the marketing partnerships encourages an increase of foot traffic into the outlets, creating a beneficial business climate for all participants.

“Via the vision of Ticket Plus’ founder, Manuel Sanchez, how we purchase tickets for concerts and events around the world is dramatically changing,” stated Carey Daly, founder, President and CEO of The Pathways Group. “Ticket Plus’ forward thinking and commitment to convenience and service through technology captured our attention. This complements our other recent acquisitions and enables us to offer full resort ticketing packages.”

Pathways, its newly acquired subsidiary SmartCard Solutions, Inc. and Ticket Plus have independently demonstrated their expertise in ticketing solutions. While known for its development of smart card-based technologies and transaction processing solutions, Pathways manufactures SPRINTICKET unattended ticketing dispensers. SmartCard Solutions, Inc., acquired by Pathways in early May 2000, provides solutions to destination resorts for point of sale ticketing and season passes, advanced sales, retail and rental purchasing. Ticket Plus provides for automated ticket selling for concerts and events (with future plans to expand into other markets) making the purchase of tickets widely accessible, easy, convenient and efficient for consumers. It is anticipated that the integration of Ticket Plus into Pathways’ family will produce full global resort services.

Manuel Sanchez, founder and President of Ticket Plus, Inc., said, “This is a perfect fit with our dedication to easy and convenient ticket purchasing. Pathways shares this belief and has demonstrated it through its commitment to bringing innovative technology solutions to the marketplace. It also enables us to reach beyond Hawaii — to the continental U.S. and internationally.”

About Ticket Plus, Inc.

Ticket Plus, Inc, was founded in 1983 in Atlanta, Georgia. It was the first computerized ticketing system developed in Atlanta. They later opened the first computerized ticketing system in Puerto Rico. Since then offices have been opened in Malaysia (Ticket Express), Philippines, and Hawaii. They have also developed computerized ticketing systems for the Chinese and Philippine governments.

In April 1999, a month after relocating its corporate headquarters to Hawaii, Ticket Plus became the official ticketing agent for the City and County of Honolulu (Blaisdell Center and Arena and Waikiki Shell). Other clients include Honolulu Symphony, Tom Moffatt Productions, Bob Peyton Entertainment, Golden Voice Presents, Bumping Sunset Promotions, Hawaiian Waters Adventure Park and Hawaii Theatre.

About The Pathways Group

The Pathways Group provides innovative and unique solutions for securely creating, capturing and processing data and electronic transactions using custom application software and hardware systems. Established in 1987, Pathways has evolved into a leader in the development of custom software and hardware for electronic banking, data and transaction processing, and smart card applications.

The Pathways Group is also a transaction processor of payments and electronic benefits in the traditional “brick and mortar” environment as well as for new Internet e-commerce business. It creates both hardware and software solutions for the Company’s transaction-based clients to simplify transition to the latest technology breakthroughs. It will continue to enhance its products through the prudent acquisition of other technologically compatible, entrepreneurial companies.

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ProCard Deal Concluded

The parent company of Total System Services, Inc. Synovus Financial Corp announced its successful acquisition of ProCard, a leading provider of software and Internet tools designed to assist organizations with the management of purchasing, travel and fleet card programs. This acquisition offers TSYS the opportunity to further expand its services to ProCard’s clients wanting to build their commercial card portfolios. ProCard will continue to operate in Golden, Co. as a wholly owned subsidiary of Synovus.

The integration of ProCard’s software solutions with TSYS’ processing systems and its suite of products enhances TSYS’ transition to a complete electronic reporting environment for its commercial clients. TSYS can now deliver detailed Level III transaction data through ProCard’s systems, providing corporations with intelligent data via the Internet thereby facilitating better business decisions. TSYS processes 86 percent of the U.S. Visa and MasterCard commercial cards and 100 percent of all bankcards issued to federal government agencies participating in the General Services Administration’s Smart Pay program.

“With the combination of TSYS’ highly-customizable TS2(R) Processing System and ProCard’s software products, Internet tools and robust back-end reconciliation process, our commercial clients will have access to state-of- the-art services from two leaders in the commercial services arena,” said Richard W. Ussery, Chairman of the Board and CEO of TSYS.

“Our team members are excited about joining the family of one of the best places to work in America. Both ProCard and TSYS have been recognized in the financial services industry as leading solution providers both domestically and globally,” said Dale Browning, president and CEO of ProCard. “Joining Synovus and TSYS is a win for our team members, clients and shareholders, and now all these benefits are available to ProCard’s clients. In addition, TSYS’ commercial clients will benefit from ProCard’s expertise.”

About ProCard, Inc.

ProCard is a leader in customized, Internet, Intranet and client/Server software solutions for commercial card management programs. In cooperation with commercial card bank issuers, ProCard technology has been installed and is actively used at corporations, federal, state and local government agencies and major educational institutions. ProCard’s applications serve 93 Fortune 500 companies. See ProCard on the Web at [http://www.procard.com][1].

About Total System Services, Inc.

TSYS provides global commerce solutions. With more than 181 million accounts on file, TSYS facilitates the payment exchange between buyers and sellers for approximately 253 million consumers. Our systems capture and deliver more of the right information to our clients that allows them to make wiser business decisions, currently yielding portfolio growth more than twice the industry average. TSYS and its family of companies offers a full range of business services, from credit application to collections, allowing our clients to focus on building their brands while we focus on safety, security, ease and convenience. Based in Columbus, Ga., TSYS ([http://www.totalsystem.com][2]) is an 80.8-percent-owned subsidiary of Synovus Financial Corp. ([http://www.synovus.com][3]), No. 5 on FORTUNE magazine’s list of “The 100 Best Companies To Work For” in 2000.

About Synovus Financial Corp.

Synovus Financial Corp. is a multi-financial services company with more than $13 billion in assets based in Columbus, Ga. Synovus is composed of 38 banks serving communities throughout Georgia, Alabama, Florida and South Carolina; an 80.8 percent ownership of Total System Services, Inc., the global solutions provider for commerce; Synovus Trust Company, one of the Southeast’s largest providers of trust services; Synovus Securities, Inc., a full-service brokerage firm; Synovus Mortgage Corp., which offers mortgage services throughout the Southeast; and Synovus Insurance Services. See Synovus on the web at [http://www.synovus.com][4].

[1]: http://www.procard.com/
[2]: http://www.totalsystem.com/
[3]: http://www.synovus.com/
[4]: http://www.synovus.com/

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InfiCorp Sold

Atlanta-based InfiCorp Holdings, headed by well-known industry executive Jerry Craft, is being sold to First National of Nebraska. Financial terms of the deal between the bank and the privately held credit card portfolio management company were not disclosed. However, the transaction is expected to close in early July. InfiCorp Holdings includes subsidiaries: Infistar, InfiBank, InfiLink and InfiCU. The firm currently manages $400 million in loans. First National of Nebraska currently has $3,050,875,000 in credit card receivables and 3,382,984 accounts as of Mar. 31, according to CardData ([www.carddata.com][1]). Jerry Craft will continue as CEO of InfiCorp, which will operate in Atlanta as a wholly owned subsidiary of First National. InfiCorp has approximately 200 employees. First National said this morning the acquisition of InfiCorp will be complementary to its credit card business, providing a solid platform to establish additional strategic credit card alliances with card issuers throughout the country. Craft founded InfiCorp in 1994 as Card Issuer Program Management company while serving as a First Data division president. He formerly served as Wachovia’s top credit card executive overseeing its rapid portfolio expansion between 1982 and 1993.

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

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CardFlash Palm

CardWeb.com’s daily CardFlash news service is now available on Palm handhelds. The new web-clipping application enables ‘Palm VII’ handheld and other modem-equipped Palm handheld users to download content from CardWeb.com. The application is available for download here. CardWeb.com began adapting CardFlash to the wireless Palm system more than two months ago and recently finalized the application. Online content from other CardWeb.com channels, via Palm, will become available throughout the summer. Robert McKinley, CEO of CardWeb.com, said this morning the Palm availability will enable CardFlash’s 20,000+ users to access critical industry information from virtually anywhere. He also noted the timing of the new feature is important since we are entering the vacation period when many executives are away from their desks. The ‘Palm VII’ costs around $400 and is available from most office supplies stores. Unlimited connection time to the wireless palm.net runs about $45 per month. Palm Inc. is the leading provider of handheld computing devices including the ‘Palm III’, ‘Palm V’ and ‘Palm VII’ series of handheld computers. The Palm OS platform is also the foundation for other handheld computers from Sony and Nokia.

[For More Information on the Palm VII click here][1]:

[For More Information on the Palm Wireless Network click here][2]:

[1]: http://www.palm.com/products/palmvii/index.html
[2]: http://www.palm.com/products/palmvii/wireless.html

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AmEx CitySearch

American Express has signed a content licensing and distribution agreement with Ticketmaster Online-CitySearch. AmEx will use citysearch.com content in its new travel and entertainment resource section of americanexpress.com. CitySearch.com will provide AmEx with local dining, shopping, arts, and entertainment information for more than 70 major U.S. cities from its city guides, which the card issuer and travel agency will make available at americanexpress.com. American Express customers will be able to use the information to plan for trips, researching and booking dining and entertainment outings and travel planning.

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PC Pay Enables 300

MerchantOnline.com and, provider of secure credit and debit card processing for Internet e-tailers, has enabled the first 300 merchants using the patented PC Pay system to accept internet payments from consumers as encrypted card-present transactions. The PC Pay card-swipe device, similar to those in retail stores and gas stations, plugs into home and office PC’s. PC Pay acts as a retail POS terminal for credit, ATM, debit and smart cards, that allows consumers to transact over the Internet in the most secure way possible, and could allow merchants to save over current processing rates.

“We feel PC Pay is the most important lifestyle innovation for consumers and merchants since ATM machines were deployed,” said Tarek Kirschen, MerchantOnline.com’s president and CEO. “Consumers can use our card-swipe device to safely shop online in the comfort of their home, office and business. Merchants will then enjoy the same level of security as POS devices used at retail stores, reducing fraud and chargebacks. Additional savings in transaction fees could range from 1-3% per transaction at the lower `card-present’ rate versus the higher rate charged for riskier transactions when customers enter card numbers into online order forms. This may dramatically add to a merchant’s profitability.”

PC Pay, developed by MerchantOnline.com subsidiary Innovonics Inc., incorporates patented “next generation” encryption technology using bank ATM network standards. Unlike other encryption technology for PCs, card data is encrypted within the secure device BEFORE entering a computer, offering a higher-level security.

A complete listing of PC Pay-enabled merchants can be found at www.MerchantOnline.com. Also at this website, new merchants can sign on to the PC Pay(R) system and consumers can order the PC Pay device.

“Until today, Internet consumers and merchants have had to settle for a less-than-perfect marketplace and worry about the security of their funds,” Kirschen said. “We have created the first extensive e-commerce marketplace where consumers are assured a secure and convenient shopping environment, and merchants can make sales with greatly reduced transaction fees. Although there are 300 stores open for business on the PC Pay system, it’s important to note that we are in our infancy and plan to grow.”

Founded in December 1997, MerchantOnline.com provides a secure transaction network that enables businesses and consumers to use one payment system for both their real world and virtual world needs utilizing credit card, ATM/debit card and other payment programs.

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eCashPad Plans Revealed

eConnect announced that Global Launch, viewable at the eConnect site ([http://www.econnectholdings.com][1]), now details eConnect’s business strategy for Bank Eyes Only transactions.

eConnect’s eCashPad electronic payment system also opens the Internet to consumers who do not have credit cards, by enabling purchases with PIN-secured bank ATM cards. The company believes that the simple action of swiping a credit card or ATM card will grow Internet commerce and expand business transaction opportunities for eConnect.

Separately, eConnect announced its latest unaudited financial results. During its first quarter ended March 31, 2000, eConnect’s investees, Power Click and Top Sports, were operational, while the Bank Eyes Only(TM) electronic payment systems products were in the development stage. The Company said that because its investees’ results are recorded on the equity method of accounting, the losses (net of revenues, less expenses) are reflected in eConnect’s first-quarter results as equity losses of investees.

eConnect said that in its first quarter, it recorded a net loss of approximately $19.2 million, and basic and diluted loss of ($0.14) per share, compared with a net loss of approximately $175,000, and basic and diluted loss of ($0.01) per share in the comparable 1999 period. Weighted average shares outstanding increased to approximately 136 million from approximately 14 million. Approximately $15.6 million of the most recent net loss resulted from the issuance of common stock as payment for services as the company expanded business relationships necessary to develop, manufacture and distribute its proprietary electronic payment systems.

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

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Clean Machine

French smart card manufacturer, Bull, announced Wednesday plans to open a new manufacturing facility in the UK before the year’s end. The environmentally friendly plant will use non-pollutant plastics such as chlorine-free PET-g, which produces only water and carbon dioxide on combustion. On the Greenpeace cleanness scale, from 1 to 10, PET-g scores between 9 and 10. The facility is expected to produce 30 million microprocessor cards next year. The four-acre site will be located at Fareham, between Southampton and Portsmouth. Bull says the UK’s recent decision to switch from mag stripe cards to smart cards for banking transactions was a major factor in its decision to locate in the UK.

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e*Gate for VisaNet

STC announced that Visa International, the leading credit card and payment company, has purchased STC’s flagship product, e*Gate Integrator, to enhance its ability to manage and distribute data within its global network. With the implementation of e*Gate, Visa will be able to support the growing data management needs generated by VisaNet, the most sophisticated consumer transaction processing system in the world.

One of the most challenging obstacles associated with eBusiness lies with the integration and processing of tremendous volumes of data — data that must flow seamlessly within an enterprise and among its trading partners in an integrated, near-real time fashion. Currently, VisaNet must support more than 3,200 transactions per second, and handle 250 million payment transactions per day. The implementation of e*Gate will enable Visa to more efficiently convert, manage and distribute this data to downstream information systems, and provide a scalable solution as the business expands.

“The Visa system is continually growing to keep up with the rapid increase in electronic transactions–spurred in large part by the growth of electronic commerce and consumers’ preference for payment cards over cash and checks,” said Terry Poore, senior vice president for Inovant, Visa’s processing and IT subsidiary. “STC’s e*Gate solution will help us manage that growth, while also giving us greater flexibility in the use of the data generated from VisaNet. We expect to see greater efficiencies in data management and a more efficient infrastructure.”

Visa must provide its global organization with an information network that allows easy and timely access to mission critical data. Vital downstream applications, such as fraud detection systems and data warehousing applications, rely on real-time information feeds, which must be accessible from anywhere around the world. STC’s e*Gate will help Visa to maintain its leadership with timely information, new payment methods, and new technologies to the benefit of its members and their cardholders.

“As the leading payment company across the globe, Visa precisely exemplifies what STC can do for an eBusiness,” said Jim Demetriades, founder, chairman and CEO for STC. “Market factors like varying global economies, proliferation of consumer payment options, 24-hour markets and Euro convergence intensify the complexity of the financial services sector. Since STC’s inception nearly a decade ago, we have demonstrated an ability to anticipate and support requirements like Visa’s, enabling eCommerce leaders to respond effectively and with agility on a global scale.”

About e*Gate(TM) Integrator

e*Gate Integrator, the foundation of STC’s new product suite, is the fourth-generation product, installed at more than 1,500 customer sites worldwide. This open, distributed and proven eBusiness integration platform provides accelerated deployment of true eBusiness, and makes optimal use of the network to provide parallelism, extensibility, scalability and high availability, while avoiding processing bottlenecks or any single point of failure. As the foundation of Global 2000 companies’ IT backbones, e*Gate delivers competitive advantage as the only integration platform to provide a real-time view, in conjunction with centralized management and deployment capabilities, across the global enterprise and out to the extended enterprise of trading partners and business networks.

About STC

STC (Nasdaq:STCS) is the leading global provider of eBusiness Integration (eBISM) solutions that enables the seamless flow of information within and enterprises. With its flagship solution, e*Xchange eBusiness Integration(TM) Suite, STC provides the industry’s first comprehensive strategic eBusiness infrastructure to unlock the true potential of eBusiness with unprecedented performance and reliability. Since shipping its first product in 1991, STC has successfully integrated more than 1,200 leading organizations worldwide.

Software Technologies Corporation (STC) is headquartered in Monrovia, Calif., with marketing and sales headquarters in Redwood Shores, Calif. For more information, please visit www.stc.com.

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TSYS Scotland

Total System Services and The Royal Bank of Scotland Group plc are in the process of signing agreements for TSYS to process Royal’s seven million consumer and commercial card accounts. The agreement will run for 10 years. Earlier this year while TSYS was independently in negotiations with NattWest and The Royal Bank of Scotland, The Royal Bank of Scotland acquired NatWest. The Royal Bank Group is the second-largest credit card issuer in the UK. TSYS will provide complete processing services for The Royal Bank of Scotland, NatWest, Ulster Bank and Coutts portfolios, all of which are part of the Royal Bank of Scotland Group. TSYS opened its European office in September 1999 and will commission its European data center by year-end 2000.

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Competix

American Management Systems and Bank of Montreal confirmed this week that J.P. Morgan is the leading investor in a group providing $15 million in new equity funding for Competix.com, the joint venture established by AMS and Bank of Montreal to market automated, web-based lending solutions to small and mid-sized financial institutions. Trans Union LLC, a major provider of credit information, risk and portfolio management services, is another member of the group and is providing its credit reporting services to Competix.com customers. AMS and Bank of Montreal remain the majority shareholders in Competix.com.

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