Hypercom Introduces Next Generation mPayment

Hypercom Corporation has launched its “M5000” mobile payment terminal multipurpose mpayment system whose futureproof features will protect the investments of a broad spectrum of merchants worldwide, from hotels and restaurants to taxis and delivery companies. The “M5000” in-hand mobile payment system with a vibrant 3.5” color icon-capable touch screen display that enables new ways to interact with the cardholder. It’s powered by a 266 MHz standard, 400 MHz optional processor, and includes up to 500MB of memory. The processor combined with a touch screen can drive any payment or non-payment application imaginable with a stunning user interface, such as icon-based integration with inventory management or menu ordering systems and includes a software development toolkit that will maximize development efficiency.

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City National Lets Clients Donate Card Rewards

City National Bank is making holiday donations even easier for its clients by allowing them to donate their reward points from their credit cards to several charities as part of their year-end giving plans. Participating charities include “Reading is The way up,” for which 33,000 reward points will provide 60 books to school libraries; American Heart Assn, for which 11,000 points will give one hospital or healthcare department the resources to educate on stroke prevention and life after stroke; the Ronald McDonald House Charities for which 22,000 points covers the approximate cost for a two-night stay at a Ronald McDonald House; Save the Children for which 5,500 points could help local health workers deliver mosquito nets to five families; and the United Way for which 33,000 points provides a student with three months of academic tutoring in an after-school program.

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VeriFone Achieves PCI PTS 3.0 for Payment Platform

The VeriFone “VX Evolution” product family-the next generation of VeriFone’s payment solutions line with market- has been validated as compliant with the new PCI Payment Transaction Security (PTS) 3.0 security requirements. The “PCI PTS 3.0” builds on existing requirements for increased security to expand the scope of the compliance program by adding three new modules for open protocols, integration and secure reading and exchange of data. The “VX 680” mobile system, desktop “VX 520” and PIN entry “VX 820” have all achieved the latest version of the PCI PTS requirements. PCI PTS 3.0 will ensure PIN entry devices using open security protocols and open communications protocols are not vulnerable.

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Amazon.com Achieves Level 1 PCI-DSS Compliance

Amazon.com has achieved Level 1 compliance with the PCI-DSS. This lets merchant customers use AWS cloud infrastructure, which has been validated Level 1 of PCI compliance, to build their cardholder environment and achieve PCI certification for their applications. To achieve a Validated Level 1 Service Provider Status, AWS commissioned a third party examination by a Qualified Security Assessor (QSA) to validate compliance with PCI DSS version 2.0. The Level 1 requirement applies to any provider who stores, processes or transmits more than 300,000 transactions annually. Amazon.com opened on the World Wide Web in July 1995 and today offers consumers millions of items across every shopping category.

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Citi ThankYou Rewards Expands Virtual Products

Citi “ThankYou” Rewards loyalty program has expanded rewards by introducing gift cards and exclusive virtual products from Zynga social game developer. Zynga is producing a line of exclusive items available only to Citi ThankYou Rewards members, starting at just 600 ThankYou Points. Members can also redeem for both physical and virtual gift cards to enhance their gaming experience across popular games like FarmVille, FrontierVille and Café World. The Citi “ThankYou” Rewards offers other virtual rewards that can be redeemed instantly, including digital music downloads and restaurant certificates.

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DCS Awarded Instant Card Issue Patent

Dynamic Card Solutions (DCS) instant issuance and PIN selection solutions for banks, credit unions and retailers that issue magnetic strip, EMV compliant and contactless cards, has been granted a patent for proprietary instant issuance printing technology by the U.S. Patent and Trademark Office. Printing unembossed “flat” financial cards, this patent is entitled ‘Real Time Card Printing Systems and Methods’ and further enhances Datacard Group’s portfolio of end-to-end instant issuance solutions. It describes the ability to produce at the branch level financial cards from blank card stock, including the ability to print unembossed financial cards instantly using reverse retransfer film with inhibitor panels using the CardWizard software platform. It is useful for issuing permanent financial cards, including debit, credit, ATM or prepaid cards, at the branch level.

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2011 Delinquency& COF Rate Poised to Plummet

The 90-day credit card delinquency rate at the end of 2011 is projected
to mark a 50.7% drop from the beginning of 4Q/07, at which point it was
1.36%, and will reach the lowest number since 1995. State-by-state,
Mississippi is expected to lead the drop by -13.67%; then North Carolina
by -13.09% and Kentucky by a -12.88% drop. This, according to
TransUnion, also shows Nevada, Florida and Mississippi will still have
the highest credit card delinquency rates at the end of 2011 while the
Dakotas will have the lowest at only 0.40%. This coincides with
Cardweb.com findings credit card charge offs now sit at
10.19% after having reached an unprecedented 10.93% in 1Q/10. For
complete details on credit card charge-offs and delinquency rates, visit
Carddata.com (www.carddata.com).

COF V DEL RATE
Mar/09: 8.7% 1.29%
Jun/09: 9.5% 1.15%
Sep/09: 10.1% 1.09%
Dec/09: 10.6% 1.18%
Mar/10: 10.93% 1.10%
Jun/10: 10.28% 0.92%
Nov/10: 10.19% 0.83%
Source: CardData (www.carddata.com)

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nFinanSe Launches Prepaid Card mApp

nFinanSe has completed the development, certification and release of its mobile Customer Service Application for the General Purpose Reloadable Prepaid Card Industry. This gives cardholders access to accounts directly from their mobile devices, contact Customer Service or request a return call. Developed in-house and now available for free at the App Store at http://app-store.appspot.com, the nFinanSe Customer Service Application services the reloadable Prepaid Visa and Discover Cards feature. Also, nFinanSe does not charge additional fees for text message alerts regarding purchase and balance information.

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eGift Cards Vital for Online Shoppers this Holiday

If a brand doesn’t offer online shoppers electronic gift cards, they may just lose a few customers. As a matter of fact, with 54% planning gift card purchases this holiday season, 70% of online shoppers would shop a different brand if a retailer or restaurant does not offer an eGift card option. This, according to the CashStar “2010 Pre-Holiday Online Shopper Gift Card Survey,” also shows 71% agree buying personalized digital gift cards online is more convenient than buying plastic cards in a store while 89% would be more likely to purchase a gift card if they were given a purchasing incentive or perk. Additional findings show 41% are planning to shop online this year compared to 33% last year; 60% have used a mobile device to redeem coupons and 20% are interested in purchasing digital gift cards from their mobile phones. This coincides with Cardweb.com findings 39% of females and 30% of males are interested in purchasing gift cards this season. Also, 30% now feel it is nicer to give a gift than a gift card, 38% of whom are female. More 25 to 34 year olds and 55 to 64 year olds, 37 and 40% respectively, said that giving a gift is nicer. This, according to the NPD Group market research organization, also shows 22% say gift card availability is influential while 27% of those older than 65 say their availability is influential (CardFlash Library, 2010/11/22).

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OTI Introduces Contactless mPayment

On Track Innovations, a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, eID Systems and other applications, is introducing a new mobile payment system which enables existing mobile phones to support Near Field Communication (NFC) functionality and contactless payments. OTI is already in advanced discussions with several mobile operators.

OTI’s COPNI™ (Contactless Payment and NFC Insert) brings innovation, creativity and unique know-how to this market with a true post-market mobile payment solution for mobile operators, banks, merchants and subscribers. COPNI is an add-on to mobile phones’ SIM cards with a flexible antenna and is based on OTI’s intellectual property and patents. The mobile payment system is independent of the handset type and model, and enables users to have one device that is both a mobile phone and a mobile wallet. It is compatible with carriers’ current infrastructure.

Mobile phones equipped with COPNI can be used in a broad range of payment applications simply by tapping the phone near a contactless reader. Payments are automatically confirmed and deducted from consumers’ bank accounts, credit cards or pre-paid accounts.

The system will be shown at the international CARTES & IDentification 2010 conference (booth #4 L 092) being held in Paris from Dec. 7-9.

“OTI’s new mobile payment system will allow consumers to easily add NFC functionality to their current mobile phone,” said Oded Bashan, chairman and CEO, OTI. “Our patented technology provides mobile operators and financial institutions/issuers with a quick-to-market NFC solution using the existing infrastructure. It offers them a way to get into the mobile payment market while expanding their customer base and generating increased revenues.”

COPNI supports existing contactless payment applications from major card associations, mass transit ticketing (with MIFARE support) as well as loyalty programs and other proprietary programs. Potential applications include:

Mass transit ticketing – instead of presenting cash or swiping a card at the turnstile, consumers just tap their phone near a contactless reader to proceed through the turnstile
Information retrieval – gives consumers the ability to view the current balance of their mobile wallet, and also allows their mobile handsets to receive and instantly download information from their surroundings (retail store, museum, etc.)
E-coupons – coupons downloaded to their wireless phone can be redeemed in retail stores at checkout
Editor’s Note: An image of OTI’s new mobile payment solution is available online at http://www.otiglobal.com/Form_Factors

About OTI

Established in 1990, OTI (Nasdaq:OTIV) designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking, loyalty programs and secure campuses. OTI has a global network of regional offices to market and support its products. The company was awarded the Frost & Sullivan 2005 and 2006 Company of the Year Award in the field of smart cards.

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