CRITERIA USED MOST OFTEN BY CARD PORTFOLIO OUTSOURCERS

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] R.K. Hammer has been involved in 148 card portfolio outsourcing deals over 20 years, ranging in value from $10,000,000 to over $1,000,000,000. Prices have ranged from barely above Par Value to over 37% premium. From those deals and over time we have identified several key elements of proposals that outsourcers liked…

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American Express 2Q/11 Revenue Up 12%

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] American Express posted 2Q/11 income from continuing operations of $1.3 billion, up 27% from $1.0 billion a year ago while net income totaled $1.3 billion, up 31% from a year ago. Consolidated total revenues net of interest expense were $7.6 billion, up 12% from $6.8 billion a year ago thanks to…

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Voxeo Achieves PCI-DSS v.2.0 Compliance

Voxeo IVR and VoIP platforms and services has received third-party certification of compliance to the PCI-DSS version 2.0. As a PCI-compliant service provider, Voxeo’s customers can have the assurance that sensitive credit card information being processed is protected against fraud and that their most critical data in the Voxeo cloud is secure. To be in compliance with this standard, it means all of Voxeo’s Internet connections, assigned IP addresses, and all Internet connected servers (Web, email, DNS, etc.) have no level 3, 4 or 5 severity vulnerabilities in their most recent security audit.

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atsec to attend PCI Security Standards Council Meeting

atsec will be attending and hosting the 2011 PCI-SSC Community Meeting conference in Scottsdale, AZ where it will offer information about its formal assessment services to the PCI-DSS, payment application testing (PA-DSS), and ASV scanning related services including mainframe expertise, risk assessment, penetration testing, consulting related to integrated management systems. On hand will be atsec staff, addressing the range of IT security testing and evaluation services under other schemes, including Common Criteria evaluation, FIPS 140-2 cryptographic module and cryptographic algorithm testing, GSA FIPS 201 personal identity verification evaluation and testing, NASPO audits, and the contribution these can make to PCI DSS compliance.

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Giftango Offers Transition from plastic gift cards to m-wallets

Giftango digital eGift card released its ” Mobile Wallet Conversion Platform” securely converting plastic gift cards into digital forms of payment by inserting and leveraging a 2D barcode on the back of a plastic gift card. Giftango has assembled the infrastructure needed to help bring merchants, incentive houses, plastic card printers, and virtual payment technology companies together to drive consumer adoption of the mobile wallet. The patent-pending platform features an API module for physical card printers, enabling them to create secure 2D barcodes, a free merchant-branded mobile gift card portal, and an API built by Giftango specifically for merchants and mobile wallet creators. The plastic printer is given access to a secure API allowing them to convert plastic card data into a secure 2D barcode that they then print on the back of the plastic.

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Jack Henry to be Microsoft cloud syndication partner

Jack Henry & Associates computer systems and electronic payment solutions primarily for financial services organizations has been selected by Microsoft as an “Office 365” syndication partner. Jack Henry & Associates, the 2010 Microsoft ISV Partner of the Year, was selected to be an “Office 365” syndication partner in the financial services sector. The “Office 365” pay-as-you-go model enables financial organizations of all asset sizes to provide their employees with world-class business tools, including reliable and familiar email services, for an established, per-seat monthly fee.

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FaceCash Mobile Payments Standardized POS

With several POS software vendors announcing their planned support for the FaceCash mobile payment system in their respective products, vendors can create a new tender type button for FaceCash mobile payments. This lets merchants save 50% to 80% on per-transaction fees, while providing benefits to consumers that save time and money, such as bill splitting and electronic receipts. FaceCash uses a barcode or NFC signal to facilitate secure retail transactions, and is currently available as a mobile app for iPhone, Android and BlackBerry.

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Discover Bank Commended by CBA

Discover Bank has been named the first recipient of the Consumer Bankers Association (CBA) Joe Belew Award for its innovative and effective program to address a pressing social issue. Discover Bank’s Comprehensive Rural Housing Opportunity Program (CRHOP) received the award for its contributions to the Milford Housing Development Corporation (MHDC), a non-profit organization that expands affordable housing services to low- and moderate-income families and seniors in southern rural Delaware. Discover Bank’s program delivered lending, investment and technical assistance solutions to help MHDC obtain the necessary resources, including debt and equity instruments, to meet the housing needs of this segment of the community. Discover provided MHDC the tools to build a balance sheet necessary to produce high quality efficient housing solutions for the community.

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POS vendor support Grows for FaceCash

Several POS software vendors intend planned support for the FaceCash mobile payment system in their products. Using a barcode or NFC signal to facilitate secure retail transactions, FaceCash is currently available as a mobile app for iPhone, Android and BlackBerry. POS offerings from Dinerware, POS Lavu, Own Point of Sale, POSitouch, Posera Maitre’D, RPOWER, ERPLY, MI9, SalesVu, and ShopKeep will integrate with the FaceCash API, which allows POS software to work with the FaceCash payment network. Some of the software modules are already in testing. Since FaceCash relies on the ThinkLink payment system instead of the traditional card interchange, merchants can save 50% to 80% on per-transaction fees, while providing benefits to consumers that save time and money.

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MasterCard Supports Future Entrepreneurs With $1mm NFTE Grant

MasterCard Worldwide announced a $1 million grant to the Network for Teaching Entrepreneurship (NFTE) to support entrepreneurship education programs for middle and high school students in low-income communities. It will support NFTE’s core U.S. school-based youth entrepreneurship program that provides hands-on learning and classroom lessons on mathematics, analytical skills and management and planning. MasterCard employees will also have an opportunity to get involved as volunteer educators, helping to create digital “master classes” that teachers across the world can access on-demand to supplement their daily lessons. Over the past two decades, more than 350,000 NFTE graduates have been taught the fundamentals of becoming financially independent by running their own businesses.

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Digital River Gets Payment Services Directive License

Digital River “World Payments” e-commerce solutions has been awarded an approved payment institute license in accordance with the European Commission’s Payment Services Directive (PSD) regulatory initiative. This provides a recognized set of rules for all payment services in the European Union (EU) to make cross-border payments easy, efficient and secure for consumers. The European Commission grants PSD licenses to payment service companies who comply with a distinct set of compliance requirements. The Digital River World Payments solution was granted a PSD license by the Swedish Financial Supervisory Authority. The Digital River “World Payments” solution offers checkout page optimization, real-time fraud detection, solutions to manage PCI exposure and currency risk, as well as advanced back-office reconciliation services and business intelligence tools.

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