Coalfire Introduces PCI DSS Compliance Device

Coalfire released its “Navis Lighthouse,” offering a secure, solid-state device that continuously gathers control evidence and enables security professionals to manage compliance in real time. Lighthouse is included at no extra charge with a subscription to any of Coalfire’s Navis solutions. It enables customers to self-assess against PCI DSS, HIPAA/HITECH, GLBA/FFIEC and FISMA control requirements using the same kind of evidence that was previously gathered only in on-site, auditor-led tests. Navis is Coalfire’s trademarked suite of Governance, Risk and Compliance tools and is used by hundreds of Coalfire clients in retail, financial services, state and local government, technology, healthcare, and utilities.

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Texas Trust FCU Card Rewards Local High Schools

Texas Trust Credit Union is introducing its “Spirit Debit Rewards,” allowing cardholders to help schools earn cash for the classroom with every swipe of their Texas Trust Credit Union Spirit Debit Reward card. Participating schools will receive 15 cents every time an active Spirit Debit card is used to make a purchase. With more than 1,100 active card-carrying Spirit Debit cardholders, Texas Trust Credit Union anticipates giving away $75,000 this school year to the schools enrolled in the program. Schools will receive a check each month for cardholders’ previous months purchases.

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TSYS & Clearent Extend Processing Services Agreement

TSYS signed a long-term agreement with Clearent to continue their current merchant services processing relationship. With this, TSYS will provide authorizations and other payment services for Clearent’s merchants using TSYS’ proven and reliable platforms. This enables Clearent to leverage the flexible and efficient technology offered by TSYS and benefit from a wide array of cost-saving and revenue-generating products and services. Clearent is on pace for another record-setting year for its credit card processing services and attributes their triple digit growth rates to advantages such as those afforded by the relationship with TSYS.

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Visa Launches contactless payments pilot

Visa Europe France is launching contactless payments deployment, given the successful deployment of contactless payments in May 2010. A number of Visa Europe’s member banks play a major role in the pilot, including Banque Edel, BNP Paribas, Banque Postale, Banque Populaire d’Alsace et Caisse d’Epargne d’Alsace (Groupe BPCE), Crédit Agricole, Crédit Mutuel-CIC, HSBC, LCL et Société Générale. The pilot focuses on the distribution of contactless payment terminals and cards. Visa Europe is also launching a campaign to help raise public awareness of the advantages and benefits of contactless technology with a poster campaign; a print media campaign; and a fleet of Visa-branded “Smart” cars bearing the slogan: “Visa contactless payment is coming to Strasbourg” [“le paiement Visa sans contact arrive à Strasbourg”].

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Global Mobile Payment Transactions to Total $945B in 2015

IE Market Research Corporation (IEMR) released its 3Q/11 Global Mobile Payment Market Forecast 2011- 2015, projecting the gross value of global mobile payment transactions will reach $945 billion in 2015, about a 30-fold increase from the comparable figure of $31.5 billion for 2010. IEMR’s Global Mobile Payment Market Forecast covers annual forecasts of mobile payment users, transactions by technology (NFC, SMS, WAP, USSD), and by type of purchase (merchandise, digital products, ticketing, mobile money transfers, bill payments, and pre-paid top-ups). According to IEMR, there were 1.5 billion NFC transactions globally in 2010. It forecast the comparable figure to jump to 55.3 billion in 2015, a compound annual growth rate of 105.2%.

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TSYS Partners With IE to Launch Mobile App

TSYS signed an agreement with IE, Parseq plc’s software division, to provide European cardholders with a mobile application. TSYS and IE have developed the TSYS Mobile App, a dedicated mobile application to help cardholders keep track of their credit card spend, which can be accessed through their smartphone. The solution will be integrated with TSYS’ “TS2” processing platform, and will allow cardholders to view account details on demand as well as receive notifications. Parseq outsourcing solutions and digital banking software services provides a wide range of value-add services, such as payments and applications processing.

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SEPA & PSD Progressing, Liquidity Risk Needs Addressing Says Banks

The Financial Services Club and Logica revealed the results of their research into the state of play in European Payments and the progress of the implementation of the Payment Services Directive (PSD) and Single Euro Payments Area (SEPA), indicating two-thirds of banking professionals agree that an integrated payments market is either critical or very important to Europe’s future. When it comes to the PSD, 50% of respondents think it has been successful – a 15% increase from 2010. For SEPA, when asked the same question the results are not as positive – only 30% think it has been a success. Banks are also slightly more optimistic on the progress of SEPA – with 70% believing that the SEPA vision will be realised by 2017 compared to 68% last year. While 73% of banks surveyed know their financial exposure in the case of a liquidity event, only 39% were able to do this through the right technology of which only 17% can do this in real time.

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Payments Council Appoints Cabinet Member CEO

The Payments Council announced the appointment of Adrian Kamellard as its new Chief Executive. Currently an Executive Director within the Cabinet Office, he will take up the role on 1 November 2011. Kamellard has worked as an Executive Director in the Cabinet Office, with responsibility for managing strategic commercial issues and creating new commercial structures in central government. This has involved successful renegotiations of high-value IT service and outsourcing contracts resulting in reduced costs of £800 million whilst maintaining and improving services. Prior to the Cabinet Office, Adrian was Head of Major Projects at Partnerships UK and latterly seconded to be the Chief Executive of Broadband Delivery UK.

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Euronet Pakistan PCI DSS Certified

Euronet Pakistan was certified as PCI DSS compliant by the leading international QSA Company, Risk Associates. Euronet strives to offer Reliable, Scalable and Secure Financial service offerings to banks under Euronet globally proven service bureau model. The PCI DSS certification demonstrates Euronet Pakistan’s continued commitment to protection and security of customer account data. PCI mandates the generation, transmission, and storage of cardholder data is securely managed and encapsulated. PCI certification enables Euronet Pakistan as the first company in Pakistan to achieve this high level of accreditation.

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Unemployment Stubbornly Stuck at 9.1%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Unflinchingly, the unemployment once again held steady in August to sit at 9.1%, basically unchanged for more than a year and well below the ‘normal’ unemployment rate of only 5.5%. With this, the number of unemployed persons sat at 14.0 million while the unemployment rates for adult men was 8.9%, for…

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SmartMetric Officially Files for Infringement against Visa, MasterCard

SmartMetric filed a patent infringement lawsuit against smart card issuers Visa and MasterCard in California Federal Court. SmartMetric filed the lawsuit in defense of its U.S. Patent 6,792,464, protecting both ‘contact’ and ‘contactless’ smart card technology specifically when used to automatically access a credit card company network via such contact points as ATM machines or POS machines. SmartMetric is seeking preliminary and permanent injunction against both Visa and MasterCard to prohibit them from further infringements along with a cash award for damages and a royalty payment.

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Alaric Systems Posts Revenue Up 40% Y/Y

Alaric Systems Limited international provider of payments and enterprise fraud detection systems announced a profit increased by a factor of 8 year-on-year; revenues up over 40% since the year ago period; and repeat revenues having amounted to 54% of the total for its fiscal year ended 31 March 2011. This thanks in part to having attracted an enviable number of prestigious clients in the last 12 months, including sales to a major Middle Eastern acquirer and issuer, an Australian financial services provider with more than 110 associated credit unions, one of the largest Mexican service providers and a global household name retailer.

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