BB&T ATM Phone Cards

BB&T Corporation is offering prepaid phone cards at 450 BB&T 24 automated teller machines across the Carolinas, Virginia, Maryland and Washington, D.C.

The InComm prepaid phone card offers callers a lower per-minute rate than most collect, credit card or hotel long-distance calls.

“Offering convenient, economical phone cards at our ATMs is one more way for BB&T to provide outstanding service through our ATM network,” said BB&T ATM Manager Mark Piper.

“Our prepaid phone cards are ideal for those hectic situations when you need to make long-distance telephone calls on the go, such as vacations, business trips or emergencies. They also make great gifts and they’re perfect for providing a telephone allowance for high school and college students.”

To use the card, callers dial a toll-free number, a personal ID number shown on the card and the number they’re calling. An automated message guides them through the call and tells them how many minutes they have left to use.

Local, long-distance and international calls may be made from any type of touch-tone phone. The cards are available for as little as $3 for 10 minutes. A 30-minute card is $6; a 60-minute card costs $11; and a 120-minute card is $19.

The price of the phone card is automatically deducted from the ATM user’s checking or savings account.

BB&T plans to offer prepaid phone cards at an additional 200 ATMs by the end of the year.

InComm(R) is a division of Atlanta-based U.S. South Communications Inc.

Winston-Salem-based BB&T Corporation, with $41.5 billion in assets, operates 619 banking offices in the Carolinas, Virginia, Maryland, Washington, D.C., Georgia, West Virginia and Kentucky.

Business Week magazine this year rated BB&T Corporation as the second highest performing S&P 500 bank holding company in the nation.

BB&T and its subsidiaries offer full-service commercial and retail banking and additional financial services such as insurance, investments, retail brokerage, leasing and trust. More information is available at the bank’s web site, [http://www.BBandT.com][1] .

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

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TSYS 3Q/99

Total System Services reported Tuesday that revenues for the first nine months of this year were $390.1 million, an increase of 35.8%, compared with revenues of $287.2 million for the first nine months of 1998. Accounts on file at Sept. 30, were approximately 199.3 million, an increase of 93.3% from Sept. 30, 1998. The conversion of the Sears 64.5 million account portfolio, as well as the 5.4 million retail card accounts for Nordstrom National Credit Bank, accounted for the strong increase. TSYS expects its 2000 net income to exceed its 1999 projected net income by at least 13-15%, versus the current consensus estimate of a six percent increase in 2000 over 1999 net income. For complete 3Q/99 data on TSYS visit CardData ([www.carddata.com][1]).

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

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New NPC Execs

David E. Fountain has been elected chief financial officer by the board of directors of National Processing, Inc., a leading provider of merchant credit card processing and corporate outsourcing solutions.

“David Fountain has played an instrumental role in the strategic events that have refocused our company over the past twelve months,” said Tom A. Wimsett, president and chief executive officer. “David’s solid financial management experience coupled with his extensive industry experience will provide the needed financial leadership as we continue to focus on maximizing shareholder value in our core business units.”

Fountain, 39, previously served as senior vice president and chief accounting officer prior to being named interim chief financial officer of the company this past July. He began his career with the company in 1996. Prior to joining NPC, Fountain held key financial management roles with Associates First Capital Corporation and MBNA Corporation, both in Dallas, Texas and with Total System Services, Inc. in Columbus, Georgia. Fountain, who is a CPA, received his undergraduate degree in finance from Stephen F. Austin University and his MBA in corporate finance from the University of Dallas.

In related actions, National Processing Company has elected Mark D. Pyke as executive vice president of NPC’s Merchant Services Division.

Pyke, 39, previously served as senior vice president of NPC’s Merchant Services Division. He began his career with National Processing in 1996 and has held a variety of managerial positions in the Merchant Services Division. “Mark Pyke has one of the brightest minds in the industry,” stated Wimsett. “He is constantly focused on improving the value of our service offering and his financial acumen is outstanding.” Prior to joining NPC, Pyke spent four years with NaBANCO, a merchant credit card processing subsidiary of First Data Corporation. Previously, he was with Metropolitan Life Insurance Company (Corporate Investments) and General Electric Capital Corporation (Commercial Financing). Pyke graduated from Northeastern University with a Bachelor of Science degree in finance and accounting, and he graduated from the University of Michigan with an MBA in finance and international business.

National Processing Company is a leading provider of merchant credit card processing services and corporate outsourcing solutions. Approximately one out of every six MasterCard and Visa transactions is processed by NPC. Approximately 88 percent of the company is owned by National City Corporation (NYSE: NCC).

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CardSystems New Hires

Following its recent merger and formation of the industry’s first Application Service Provider, CardSystems Inc., a provider of electronic payment solutions for the electronic commerce industry, Monday announced it will expand its executive team with the hiring of Gary Levine and William Pearson to fill key company posts.

Gary Levine has been named CardSystems’ executive vice president of sales and marketing. In this new position, Levine will oversee CardSystems’ domestic sales and marketing efforts. With more than 23 years of experience in professional services and information technology, Levine has a strong background in the business impact of information technology. As one of his first priorities in his new role, Levine will expand the company’s current sales team, focusing on individuals with industry-specific expertise.

“Gary has an outstanding reputation in the IT industry and is a great addition to the CardSystems team,” said John S. Cramp, chairman and chief executive officer of CardSystems. “Utilizing his knowledge, experience and leadership qualities, Gary will help the company expand its space in the marketplace.”

William Pearson has been named senior vice president of Solutions Delivery for CardSystems. In his new capacity, Pearson is responsible for the delivery process involving the firm’s eCardSMART(R) Solutions Platform, including project management and onsite consulting.

“As an ASP in the electronic commerce industry, CardSystems needs people like Bill to manage the delivery of eCardSMART solutions to our customers,” said Cramp. “The effective deployment of CardSystems’ resources – through our cost-efficient delivery process – produces successful solutions for our customers, and Bill has the skills and experience to guide this critical aspect of our efforts.”

A 25-year information management industry veteran, Pearson joins CardSystems after serving nine years as the general manager for the Federal Solutions division of Information Management Consultants, a company that provided resource planning, document management, imaging, workflow and Internet solutions to organizations within the Federal Government.

Prior to his joining CardSystems, Levine served as president for IKON Office Solutions/Technology Services Mid-Atlantic – a company providing consulting, network design, implementation and support services to mid-size commercial entities.

About CardSystems Inc.

CardSystems Inc. is a leading provider of applications to the global electronic payment processing industry, offering end-to-end 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 into a solutions framework that can be utilized 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 suite of intelligent products and Internet solutions gives 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].

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

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Tower Gift Card

Joining the stampede to gift cards this holiday season, Tower Records expanded its plastic gift certificate yesterday. Tower Records is one of the first traditional retailers to offer the ‘Gift Card’ online and its web site is equipped to handle multiple tender transactions, allowing online customers to pay for part of a purchase using their ‘Tower Gift Card’, and place any remaining balance on a credit card. In addition, all purchases made with the ‘Gift Card’ are transacted by American Express. Tower Records ‘Gift Cards’ can be purchased and redeemed at all U.S. Tower locations and online at Tower Records.com. Tower Gift Cards are available in denominations ranging from $10 – $100 and carry no expiration date. Tower owns and operates 178 stores worldwide, with fifty-three franchise operations in seven countries.

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Preview MasterCard

Preview Travel and First USA announced the launch Monday of the ‘Preview Travel Platinum MasterCard’. The new card rewards consumers with points for every dollar spent both online and offline. The reward points are redeemable for discounts on airline purchases made through Preview Travel. When consumers accumulate 5,000 reward points, they will automatically be issued a $50 credit coupon redeemable on their next Preview Travel airfare purchase. Cardholders will also be to review their most recent monthly statements and current transactions, as well as track their rewards account balance and pay bills online. The no-annual-fee card offers a 3.9% intro rate and a 9.99% go-to rate. Preview Travel has a online community of more than 9 million registered members and reported gross bookings of $200.1 million in 1998 and $166.7 million in the first half of 1999.

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Rite Aid & CCS & Diebold

Drugstore chain, Rite Aid, has selected Card Capture Services and Diebold to install and maintain its network of 870 store-based cash dispensers. The three parties developed a unique, seven-year agreement where Diebold will provide the ATMs, on-going remote system monitoring and on-site maintenance services. CCS will respond to all consumer issues, provide transaction processing and national cash management services. The Rite Aid arrangement is a departure from past practices for Diebold. Diebold will now operate and service ATMs placed in retail locations. The Rite Aid installation includes more than 800 Rite Aid stores across the U.S. Stores will be equipped with Diebold ‘CashSource Plus 200′ mid-range retail cash dispensers. The units’ color display screen will be used to present promotional and marketing messages. Installation will be complete by April. Rite Aid has approximately 3,800 stores in 30 states.

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Associates 3Q/99

Associates First Capital reported net earnings for the third quarter reached $386.8 million, a 22% increase over the third quarter of 1998. Managed receivables at the end of the period were $81.7 billion, 24% greater than a year ago. Overall chargeoffs, as a percentage of average managed receivables, increased to 2.73% from 2.38% for 3Q/98. Overall delinquency (60+ day) also increased from 2.39% last year to 2.81% this year. However in its credit portfolio of $11.1 billion, Associates reported that chargeoffs declined from 7.55% for the second quarter to 6.83% for 3Q/99. Credit card delinquency (60+ day) notched up from 1.65% for 2Q/99 to 1.77% for the third quarter. For more information on Associates 3Q/99 statistics visit CardData ([www.carddata.com][1]).

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

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Ultimate Gold Card

While VISA and MasterCard gold cards have lost much of their glitter, Boeing has come up with the ultimate gold card. Boeing Business Jets announced Monday a new partnership with Air Routing and Delta Air Lines to provide the ‘BBJ Gold Card’. Last month Boeing delivered the first business jet. With the use of a ‘BBJ Gold Card’, owners will have access to an integrated network of flight support services including emergency roadside service, significant fuel discounts, and consolidated invoices and billing statements. Delta Air Technical Operations Division will provide emergency roadside Service for BBJ customers. The business jet is a high-performance derivative of the Boeing Next-Generation 737-700 and provides a business jet platform that has a range of more than 7,000 statute miles. Since its launch as a joint venture between Boeing and General Electric, the Boeing Business Jets has received 56 orders. To date, 28 BBJs have been delivered.

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Banker Shakeup

Thomson Financial Media, parent company of Faulkner & Gray and American Banker, confirmed yesterday the appointment of a new editorial team for its flagship daily newspaper American Banker. David Longobardi has been named Editor in Chief , Kieran Beer has been named Editor, and Richard Melville, has been appointed Managing Editor. Thomson says its new leadership team comes to American Banker with diverse backgrounds, including, in addition to banking, experience in covering such areas as the capital markets, brokerage, investment banking and financial technology.

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Access Combo

Schlumberger announced this morning it has extended its Access payphone family with the introduction of ‘Access Combo’. ‘Access Combo’ adds an advanced coin mechanism to proven smart card and magnetic stripe card payment options which stores coins during a call and refunds coins at call termination. The mechanism can be reprogrammed on-line to accept different coin denominations and currencies. The coin vault is isolated from the main housing to ensure maximum protection against theft. In addition to coin, smart card and magnetic-stripe payment options, key features include higher electronic integration with non-mechanical magnetic hook detection for enhanced robustness, remote initialization capability to allow installation by third parties, and a modular structure and design that supports remote diagnostics and facilitates replacement for repair purposes in under 10 minutes. Schlumberger also announced this morning it has added GSM connectivity to its ‘Access’ payphone family.

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