Alexandar Joins TSA

Transaction Systems Architects, Inc. announced that Roger K. Alexander has joined its Board of Directors, effective as of its recent annual shareholders meeting. Mr. Alexander is a partner with the management consulting firm of Edgar, Dunn & Company, working out of their London office. Prior to joining Edgar, Dunn & Company, Mr. Alexander was a Senior Manager with Barclays Bank, most recently acting as Managing Director of Barclays Emerging Markets Group.

“We’re fortunate to have Roger join us on our Board,” said David C. Russell, President and CEO of Transaction Systems. “His expertise in international banking, e-payments and in emerging payments technology will be invaluable to our efforts going forward. In light of our recently announced strategy to consider ways to more rapidly grow several of our new Internet-centric businesses, Roger is a very timely addition to the team.”

In addition, the company announced that it has extended the duration of its previously announced stock buyback authorization. TSA announced on May 25, 1999 that the Company was authorized to repurchase up to 2 million of its outstanding common shares through February 28, 2000 and that it expected to use any shares purchased for employee stock plans or other corporate purposes. The Company has now extended the time period during which it is authorized to repurchase shares to February 28, 2001. Shares may be purchased from time to time in open market, negotiated, or block transactions.

Since announcing the buyback authorization on May 25, 1999, TSA has repurchased 1 million of its outstanding common shares.

Transaction Systems Architects’ software facilitates electronic commerce and e-payments by providing consumers and companies access to their money. Its products are used to process a wide range of e-payment transactions involving credit cards, debit cards, smart cards, Internet banking services, checks and high-value money transfers, as well as e-payment clearing, settlement and management. Transaction Systems’ solutions are used on more than 3,550 product systems in 79 countries on six continents.

Details

Kluge Joins Prologic

Prologic announced that it has appointed Mr. Holger Kluge to its Board of Directors. Mr. Kluge is one of the most successful and influential senior executives in the global financial services industry. He currently serves on the boards of several high profile corporations in Canada and Asia Pacific, and is the ninth director on Prologic’s board.

Mr. Kluge is recognized as instrumental in CIBC’s success as an innovative leader in the global retail banking and financial services industry. In Mr. Kluge’s distinguished forty-year career with the Canadian Imperial Bank of Commerce (before retiring in 1999), he is most widely recognized as the President of Personal and Commercial Banking – a position he held for nine years. Under Mr. Kluge’s direction, CIBC’s retail business grew to exceed one billion dollars in profit, making it one of Canada’s Top Ten Corporate performers. Previous to his role as President, he held the position of Executive Vice President, International Operations and enhanced the profitability of CIBC operations in Europe, Asia, Australia, Middle East, West Indies and Latin America.

In addition to being on Prologic’s Board of Directors, Mr. Kluge holds board memberships with corporations in a variety of industries. Tom.com Ltd. (Hong Kong), Hutchison Telecommunications (Australia) Ltd., TAL Global Asset Management Ltd. (Canada), Hong Kong Electric, VLINX.com, Husky Oil Ltd. (Canada) and Covenant House, Toronto are among the corporations on whose board Mr. Kluge is currently appointed.

Fluent in the English, German and French languages, Mr. Kluge has worked and studied around the world. He graduated with an MBA, with Honours, from Sophia University in Tokyo, Japan, and received a Bachelor of Commerce degree with Honours from Concordia University in Montreal, Canada.

“Prologic has developed a highly specialized software solution for the niche of the financial services marketplace that represents the most strategically important and highly profitable area of the business,” said Mr. Kluge. “Prologic’s focus on wealth management is both timely and astute.” Mr. Kluge continued, “I believe Prologic’s i-Wealthview, which offers an Internet-enabled banking, brokerage and insurance solution for increasing customer profitability, and utilizes new technologies such as wireless, will revolutionize the financial services technology infrastructure of large, progressive institutions.”

Mike Cardiff, President and CEO of Prologic Corporation stated, “Holger has played a vital role in shaping our industry and defining how a successful financial services organization does business. His wealth of experience and leadership expertise will help us grow our organization and enable us to keep up with the overwhelming demand for our extraordinary products.”

Prologic Corporation is the leading developer of software solutions for the global financial services industry. Prologic’s customers include 7 of the top 25 largest banks in the world, with over 20 Internet banks using Prologic solutions. Prologic technology enables financial institutions to quickly deploy solutions for their converging financial services offerings, while also supporting capabilities for increasing profitability, customer acquisition and retention. Prologic has recently announced i-Wealthview(tm), its new enterprise wealth management solution that features e-banking, e-brokerage and e-insurance. Through strategic alliances with Microsoft, Compaq Computer Corporation, and other international partners, Prologic’s banking solutions are in use in over 300 financial institutions globally. Visit Prologic’s home page at [www.PrologicCorp.com][1], or call +1(604)278-6470.

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

Details

Check Cashing Machine Deployment

Greenland Corporation announced the installation of the first Greenland automated check-cashing machine into the Piggly Wiggly chain of grocery stores in North Carolina. Piggly Wiggly stores provide supermarket services to customers in locations primarily in the Southeastern United States.

Don Johnson, the Company’s sales representative in North Carolina, stated that Greenland machines have been installed in North Carolina and South Carolina and that he is thrilled not only with the performance of the machines but also with the enthusiastic customer response to the services.

Fiber Optic Frame Relay Upgrade

All of the field installed Greenland automated check-cashing machines have been upgraded to Sprint Fiber Optic Frame Relay technology, complete with state of the art Cisco Communication hardware. The reliability of the frame circuits has far surpassed expectations and are operating with 100% up-time.

First Beta Site Installation of Payday Advance Technology

Greenland has installed an automated check-cashing machine in Santee, California which will be the first beta site for Greenland’s newest payday advance technology. The beta site, owned by Credit Solutions Corporation, will be operated on a joint venture basis with Greenland Corporation. The initial installation will include Greenland’s standard financial functions and payday advance services will be added by April 1, 2000.

“Greenland is extremely pleased with the completion of its newest technology,” said Dr. Louis Montulli, CEO of Greenland Corporation. “The technology was one year in the making and will enhance Greenland’s revolutionary automated check-cashing ATM kiosk. Greenland will continue to develop new applications such as bill paying and wire transfer services through its technology development program to maintain its state-of-the-art status.”

Greenland Corporation is a manufacturing corporation with existing product and product under development. The Company is currently introducing an automated payroll check- cashing machine with full ATM functionality, and money order dispensing services. The company’s common stock trades on the OTC Bulletin Board under the symbol “GLCP”. Visit Greenland Corporation on the internet at http://www.greenlandcorp.com.

Details

Portfolio Litigation

A nasty battle is brewing between two parties involved in a real estate secured credit card affinity program. CA-based First Alliance Mortgage confirmed this morning that it filed a lawsuit against Fidelity Federal Bank, FSB, a wholly-owned subsidiary of Los Angeles-based Bank Plus Corporation. The litigation centers around four agreements that include an agreement requiring First Alliance to purchase, at the expiration of the contract, all of the outstanding accounts and related receivables. The contract expired two weeks ago and is now in arbitration after First Alliance refused to open its books and records as required under the program servicing agreement. First Alliance then filed the lawsuit, seeking to obtain a temporary restraining order against Fidelity in connection with a First Alliance $2.7 million reserve fund held by Fidelity. However the court denied First Alliance’s request after Fidelity promised not to convert the funds to other uses. First Alliance said this morning that it anticipates that a conflict of interest issue involving Bank Plus’s current CEO and his role in the original negotiation of the agreements will significantly impact the arbitration. At the time of the negotiation of the agreements in Feb. 1997, Bank Plus’s current CEO was both on the Board of Directors of Bank Plus, and the CFO of First Alliance Corp., purportedly acting on behalf of First Alliance in the negotiations. As of January 31 total credit card receivables under the program totaled $17.3 million.

Details

MoneyGram Intl Discount

MoneyGram Payment Services has announced a special promotion offering customers a $5 discount when transferring money to Africa, Asia, Australia, Europe and the Middle East.

The offer runs until April 15, and all normal transaction fees to these areas will automatically include this special discount.

According to MoneyGram, one of the world’s leading international money wire transfer services, customers will be able to send $100 to any of these five regions for just a $5 fee. The company says the promotion results in some of the lowest fees in the money wire transfer service industry. Fees differ based on the amount transferred above $100.

In addition to the transfer fees for a transaction, a currency exchange rate set by MoneyGram or its agents will be applied.

“We want to make it easy for customers to save with no coupons or calculations,” said Ann Doelling, senior director of International Marketing. “Now customers who wire money overseas can take advantage of MoneyGram’s worldwide network for fast and reliable service.”

MoneyGram has 15,000 agent locations in the United States and operates in more than 120 countries..

Details

Red Hot e-Connect

CA-based eConnect has emerged as the hottest OTCBB stock, setting new volume records and surpassing price gains, on a percentage basis, of most NASDAQ traded stocks. The San Pedro, CA-based firm is a developer of global Internet ATM and PIN cash payment transactions. The company’s stock soared more than 300% last week. On Friday the firm announced it has structured a licensing arrangement with PalmPilot to enable first-ever wireless hand-held Internet terminal transactions. The PalmPilot deal is part of a joint venture deal with FL-based Pilot Island Publishing’s ‘PocketPay’ solution. The ‘PocketPay’, which will be a hand-held combination ‘Palm VII’, phone and bank card Internet terminal, will send encrypted ATM card with PIN or credit card data to the ‘Palm VII’ proxy server center, which in turn will then send on the data to the ‘eConnect/RGTecq Linux Transaction’ server, which in turn will pass on the transaction to the eConnect host systems for bank card authorization. eConnect also confirmed this morning that the ‘eConnect/RGTecq Linux Transaction’ server successfully sent a full Internet ATM card with PIN message format to eFunds over the weekend. The company is also aiming to bring instant cash payment by ATM card and PIN to Internet commerce. The company further announced this morning a new merchant portal featuring more than 200 paid merchant listings with an additional 1,500 merchants projected to join the site before the end of April. The re-designed PowercClick portal builds on eConnect’s recent acquisition of the Powerclick network.

Details

E.piphany into eCardSMART

CardSystems, Inc., announced that it has signed an agreement with E.piphany, Inc., to offer the E.piphany E.4 system to the financial services industry with focus on the electronic payments segment. E.piphany’s real-time analytics are being integrated as part of CardSystems’ end-to-end eCardSMART electronic payment processing solution. By combining the data warehouse that inherently exists in a payment processing environment provided by CardSystems with the real-time analytic capabilities provided by E.piphany E.4, CardSystems expects to deliver renewed value from the huge volumes of data processed within the electronic payments industry.

CardSystems will provide the E.piphany E.4 Reporting and Analysis solution to financial institutions as licensable software or as an Application Service Provider (ASP). In the ASP model, CardSystems will host E.piphany E.4 in its Tucson, Ariz., processing center. Through the emerging ASP delivery model, CardSystems offers its customers “software rental.” CardSystems’ customers will have access to E.piphany capabilities, including trend analysis and one- to-one customer data analysis, using a standard web browser over the Internet. By embracing E.piphany’s solution along with the ASP model for software delivery, CardSystems expects to immediately enable the Customer Relationship Management component of the eCardSMART(R) Intelligent Processing Suite under the product name eBIS-Merchant(R).

“In keeping with CardSystems’ strategy of incorporating best-of-breed solution components with proprietary eCardSMART(R) functional components delivering complete end-to-end eCardSMART(R) electronic payments solutions, CardSystems has identified E.piphany E.4 as the best-of-breed data mining solution in the marketplace today” said John S. Cramp, chairman and chief executive officer of CardSystems. “By leveraging our full-service processing center with E.piphany’s ASP delivery option, we will be providing the state- of-the-art data analysis tool our customers need in a format that is easy to embrace. And the ASP option significantly reduces the infrastructure barriers cited by many of our customers as an obstacle to adopting a CRM solution.”

“The electronic payments industry, with its huge transaction-based data marts, provides the ideal backdrop for our solution,” said E.piphany’s president and chief executive officer, Roger Siboni. “CardSystems’ eCardSMART(R) solution framework, with its use of flexible, contemporary technologies, provides market differentiation that complements our approach to solutions delivery. CardSystems’ ability to implement our ASP option will provide an even greater number of companies within the electronic payments industry with the ability to quickly establish, maintain and continually improve customer relationships, as merchant acquirers of all sizes are able to quickly begin using E.piphany E.4 for robust, real-time analytics.”

About CardSystems

CardSystems, Inc., is a leading provider of applications to the global electronic payments industry, offering solutions to financial institutions and other transaction-oriented companies. Since its October 1999 merger with Maverick International Processing Services Inc., CardSystems has become the industry’s first Application Service Provider (ASP), evolving its proprietary eCardSMART(R) card processing methodology across a wide spectrum of applications. Additionally, CardSystems has developed intelligent enabling technologies that include an expert system, neural network and software applications optimized for the card processing industry. The eCardSMART(R) suite of intelligent products and Internet solutions give clients control over their proprietary customer data, dramatic productivity gains and compelling return on investment (ROI). CardSystems has deployed payment solutions in more than 30 countries. For more information on CardSystems, visit the company’s web site at [http://www.cardsystems.com][1].

About E.piphany

E.piphany is the provider of real-time analytical applications that create a single enterprise-wide view of the customer enabling insight and personalized action across all touch points. The E.piphany E.4 system is designed to help companies establish, maintain and improve customer relationships for the new customer economy. The E.4 system is an integrated suite of software solutions that enable companies to profile and analyze individual customer characteristics and preferences and then leverage that information to drive marketing campaigns and individually tailored products and services.

E.piphany, E.4 and the E.piphany logo are trademarks of E.piphany, Inc.

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

Details

Bank One 1Q/00

Bank One Corp. warned investors on Friday that analysts’ profit projections for the first quarter will most likely fall short due to continued weakness in the First USA credit card unit. The company said it encouraged analysts to lower their first-quarter estimates to 60 cents a share, down from the current range of 62 cents to 69 cents. Bank One predicted that the first quarter would the weakest quarter of 2000, however, full year net profits were still on track to exceed $3 billion. Bank One continues to revamp its credit card business amidst intense price competition and changing cardholder economics. The bank indicates that cardholder attrition has slowed, re-pricing is in place, and overall efficiencies have improved. Bank One also continues to search for a permanent chief executive to replace John McCoy, who resigned in December as chairman and CEO. Bank One’s stock declined 4.5% on Friday following the 1Q/00 earnings news.

Details

Convenience Usage

Another survey validates the migration to convenience usage of bank credit cards by consumers. CT-based Greenfield Online says a recent survey of 1,000 consumers showed that 43% of cardholder pay their balance off in full each month.

CREDIT CARD PAYMENT HABITS
(By Household Income)

Pay Total Under $50K $50-$99K $100K+
Minimum Due 9% 12% 6% 1%
More than
minimum but less
than full 48% 52% 48% 32%
Full Amount 43% 35% 46% 67%

Source: Greenfield Online

Details

Robins to Recruit ISOs

First American Payment Systems, Inc., one of the fastest growing non-bank merchant credit card processing acquirers, recently announced that Stephen Robins has joined the company as Senior Vice President of National Sales. Robins is responsible for recruiting programs to attract Independent Sales Organizations and sales agents to the company.

“Steve’s years of valuable experience in the credit card industry strengthens the implementation of First American’s aggressive growth plan,” said Neil L. Randel, president and chief executive officer.

Robins has 18 years of experience in both the acquiring and issuing sides of the credit card business. In the early 1980s, while working for Zion’s Bank, Robins developed and implemented one of the first electronic authorization and draft capture systems for credit and debit card processing.

Robins was most recently Senior Director of Network Sales for Paymentech, where he managed the marketing of electronic transaction authorization, capture and settlement services to banks and ISOs. Prior to that, he worked for GENSAR Technologies, which was acquired by Paymentech during his tenure, where he led GENSAR’s marketing program.

Before joining GENSAR, Robins served as Vice President and Manager of Third Party Sales at National Processing Company (NPC) and prior to that was Senior Account Executive at VISA USA.

“I am excited about the possibilities First American has in the existing marketplace. We have a solid operational process in place that can support a very high growth rate. Also, First American has demonstrated their willingness to move quickly and take advantage of the ever-moving trends that are a part of the acquiring business. I enjoy being a part of this kind of organization,” Robins said.

About First American

First American Payment Systems, Inc., a privately owned corporation founded in 1990, provides full-service electronic credit card authorization and payment systems to retail, mail order, telephone order, Internet and home-based merchants throughout the United States. First American’s other divisions include national ATM deployment, Secur-Chex(TM) check guarantee, FirstPay.Net e-commerce payment gateway and Merimac Capital point of sale equipment and ATM leasing. For more information on First American Payment Systems, visit the company’s Web site at [www.first-american.net][1].

[1]: http://www.first-american.net/

Details