E-Commerce Developing in Rebounding Economy

The Chinese economy weathered the financial crisis in 2009, but was still impacted enough to show a strong rebound in 2010 after a one-year adjustment while the global economy remained sluggish. The severe impacts of the financial crisis led to reflections on China´s commodity marketplace. For a long time, China´s traditional commodity transaction mechanism has kept many enterprises, especially small and medium processing manufacturing enterprises, lagging behind the market development in terms of production as well as access to and management of order information, which makes it difficult for them to respond to the international market demand promptly. China´s commodity marketplace system is not so well developed as the Western countries, while the application of e-commerce is still at an initial stage. Learning from the developed capitalist countries´ experiences and combining them with China´s actual demands is necessary for the development of e-commerce in China´s own commodity marketplace.

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eBay Completes Acquisition of brands4friends

eBay completed its previously announced acquisition of brands4friends online shopping club for fashion and lifestyle. In accordance with the terms of the acquisition agreement announced on Dec. 20, eBay acquired brands4friends for a transaction value of approximately US$200 million (EUR150 million) in cash. brands4friends.de has approximately 3.5 million registered club members, who are on average 32 years old and has successful international operations in Austria, the U.K. and Japan.

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Government Rallies Behind Prepaid Card Market

The Indian prepaid credit market, estimated to have crossed US$ 4 Billion at the end of 2009, is expected to only see more growth thanks to favorable government regulations. With 20% of the 1.2 Billion Indians currently implementing payment cards in one form or another, most are keen to the benefits of a prepaid card. This, according to RNCOS’ “Indian Payment Card Market Forecast to 2012”, also shows the Indian prepaid card industry has been experiencing sizeable growth thanks to the government regulations which have allowed RBI to bring close and semi-closed loop cards under the Payment and Settlement Act.

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Nordea joins BankID

Nordea has decided to join the BankID electronic identification infrastructure and is to start to issue BankID electronic identifications, which is supported by nine Swedish banks. The majority of these banks also use BankID for electronic identification and signing at their Internet banks. At present there are 3.8 million active users of electronic identifications in Sweden, as well as a 1 000 services. With current growth a total of 4.5 million is anticipated by the end of 2011. BankID electronic identification in Sweden is based on the PKI (Public Key Infrastructure) technical standard and has been developed by a number of large banks for use by members of the public, authorities and companies.

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Czech Bank card Association joins EAST

The Czech Bank Card Association (BCA)- originally formed in 1991 as the Interbank Payment Card Association- has just joined EAST (the European ATM Security Team) as the national representative member for the Czech Republic. The BCA initiative is to coordinate activities of the Czech banking community and to promote the development of payment cards, including preparations for the Single Euro Payments Area (SEPA). The BCA Security Committee deals with the issues of security and security standards in the area of payment cards, takes action against payment card fraud, and delegates co-operate with their counterparts from individual payment card issuers and processors and with the international card companies and the Czech police authorities. Both Canada and Russia are represented at EAST as non-SEPA members and EAST is seeking to establish links with parties in any country, able to share national incident and loss statistics for ATM related fraud and physical attacks.

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Atos Origin to Manage Nomura Transactions

Atos Origin international IT services has been awarded a five year contract by Nomura Asset Management UK to provide and manage the systems to support its money market funds through its “Apollo FIM” fund management solution. The “Apollo FIM” fund management solution has been successfully implemented by Atos Worldline at a number of European banks. Atos Worldline brings together Atos Origin’s core expertise in Hi-Tech transactional services.

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Retailers mPOS Growth Exponential

POS terminals are becoming a thing of the past as retailers are beginning to connect customers with store associates through their own social network, the store’s home office and even perhaps the merchandise vendor with the emergence of mobile POS technologies. With more than 50% of retailers intending to launch mobile solutions within the next two years, untethered mobile devices are becoming an important tool for retailers to connect with customers and grow their business. Furthermore, more than 75% of retailers plan to replace POS terminals within the next four years and 16% are currently running “thin client” solutions, which rely on dedicated Internet based connections rather than information stored on a local computer, according to Boston Retail Partners’ 12th Annual POS Survey of top U.S. retailers.

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Millennium Digital to Host 2011 Security Summit

Millennium Digital Technologies and Liquid Networx have partnered to host the first annual Secure Payments Summit on February 20-21, convening thought leaders on PCI to present the latest in cutting edge solutions. This is with the focus to mitigate the risks inherent to payment environments, for which it will address a review of the current cyber landscape; how the social media explosion impacts your business; fraud trends and best practices; how virtualization impacts security/compliance; legal aspects of information security; changes to the PCI DSS and PA DSS and how these changes will impact the merchant/acquirer relationship and more. Millennium Digital Technologies provides merchants PCI Compliance Solutions and is dedicated to making the process of becoming PCI compliant easy, giving clients access to on-site assistance from our network engineers and 24/7 available customer service.

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