The SafenSoft security solutions’ “TPSecure” ATM security solution was named one of the most innovative ideas in antimalware and antispam in the past ten years by delegates at the prestigious VB 2010 Conference. Held annually, the VB conference is organized by specialist publication and testing organization Virus Bulletin and attracts delegates from around the world focused on security issues in both the vendor and corporate communities. SafenSoftâs solutions for ATMs, corporate networks, and home computers are all built around the companyâs patent-pending VIPO (Valid Inside Permitted Operations) technology, which effectively prevents any unknown or ill-intentioned application from executing, preserving system integrity throughout the device lifecycle.Details
With 67% of consumers spending $3 or less in monthly bank fees for services such as checking account maintenance and ATM access, 53% pay nothing. Additional findings show 14% pay $3 or less; 9% pay $4 to $6; 5% pay $7 to $9; and 14% pay $10 or more. This, according to a recent survey by the American Bankers Association, suggests to those whom pay too much for their accounts to open a checking and savings accounts; to use your own bank’s ATM to avoid fees; use direct deposit; to keep at least the minimum balance in the account; keep track of transactions to avoid NSF fees; and get automatic alerts from the bank when balances are too low.Details
In conjunction with PXT Payments, the town of Brookline, MA has launched its chip-based, secure “Brookline Debit Card” smart debit card program, along with an on- and off-street parking application. To create a safe, local currency that boosts consumer spending in Brookline, the PXT Payments smart debit card allows residents to no longer worry if they have enough change to park, or be concerned about potential identity theft when making payments anywhere in Brookline. From coffee houses to hardware stores, consumers can load their chip-based, encrypted card at any participating merchant. If consumers load $50 or more at any of the participating merchants, they will receive an additional $5 loaded for free. The PXT smart debit card program can be made for exclusive use in a single town, city, or Business Improvement District (BID), or standardized across a state, or even multiple states if local authorities coordinate.Details
The topic of “mobile marketing” and the related privacy and security considerations are addressed in a new white paper released from the Smart Card Alliance Payments Council, “Chip-Enabled Mobile Marketing.” The white paper focuses on chip-enabled mobile marketing — mobile marketing applications that use an RF chip, either built in or added to a mobile phone, to enable mobile contactless transactions. It can be downloaded for free by visiting the Smart Card Alliance Payments Council Web page. This white paper looks beyond payment to other marketing applications that can add significant value for merchants and the mobile marketing ecosystem.Details
U.S. Bank is rewarding its “FlexPerk”s cardholders for charitable giving efforts with triple “FlexPoints” on donations cardholders make to over 25,000 eligible 501 nonprofit organizations with their “FlexPerks Travel Rewards” or “FlexPerks Select Rewards” credit card. U.S. Bancorp strengthens communities through a number of its own philanthropic initiatives, for which it contributed over $20.6 million in grants and employee matching gifts to organizations across the country and over $8.1 million in corporate contributions and nonprofit sponsorships in 2009. The FlexPerks Travel Rewards Visa offers industry-leading value and innovation for customers who want travel rewards, also giving users cash back, merchandise, gift cards and statement credits.Details
The Verifone-Hypercom saga continues as sources are disclosing VeriFone is indeed pursuing a hostile takeover of Hypercom. Verifone immediately began drafting a second buyout offer after the first bid was rejected September 27, which proposed to acquire all of the outstanding Hypercom shares for $5.25 per share in cash for a total of $290 million, according to the Cardflash Library. Hypercom quickly responded with its rejection thanks to its projections of a prosperous 3Q/10 high above Wall Street predictions of $112 million in net revenues. Subsequently, shares in Hypercom exploded 44% to $6.10, immediately overvaluing the VeriFone proposal. The Board decided this proposal is only intended to disrupt Hypercom operations after having taken market share from VeriFone in several markets. Be this as it may, the VeriFone CEO is disclosing his Company has grown more than Hypercom in the past 10 quarters and is continuing to gobble up competitors, the most recent of being an 80% ownership of Italy integrator and software developer All Business Solutions (ABS)(Cardflash Library 2010/10/04, 2010/09/30).Details
Among 26 top card issuers for identity fraud prevention, detection and resolution based on research from issuers’ websites and calls to customer service representatives Discover ranks best in identity fraud resolution. These findings, according to the sixth annual “Card Issuers’ Identity Safety Scorecard” from Javelin, also concluded Discover finished second in detection and second overall among all issuers in the study. This is thanks to the Card Issuers’ routine assessment and enhancement of its fraud prevention, detection and resolution systems to continue protecting cardmembers. Discover has finished among the top-scoring issuers since the scorecard was created six years ago.Details
FNDS3000 Corp is conducting several strategic reorganizational initiatives to streamline its senior management structure, reduce corporate overhead and strengthen its overall operating platform. These include changes to the composition of its Board of Directors, which has been reduced from nine members to five; to expand the leadership role of current Chairman through his appointment to the additional posts of President and Chief Executive Officer; and eliminating approximately $500,000 in annual expected corporate overhead expenses through corporate staff and cost reductions in the U.S. FNDS3000 supportsemployee payroll, insurance, medical aid, gift cards, prepaid cellular charges and small-scale international transfer of funds.Details
Dynamics next-generation payment devices was awarded Best of Show at the FinovateFall 2010 conference. Showcasing innovations in financial and banking technology, the event featured the Dynamics “Redemption” device in a card form-factor, allowing consumers to redeem reward points or cash rewards with the push of a button at the time of checkout. Also, Dynamics announced its partnership with Citi and demonstrated Citiâs “2G” credit cards based on Dynamicsâ “Card 2.0” technology. In November, Citi will expand the pilot of its second generation credit cards to additional Citi card customers in the form of the Citi PremierPass 2G and Citi Dividend 2G cards.Details
epay of Euronet Worldwide global electronic payments processor, released details of its role in the provision of a new $AUS1.2 billion smartcard ticketing system for Sydney, Australia.
epay is a member of the Pearl Consortium, which was recently awarded the smartcard ticketing contract by the New South Wales Government’s Public Transport Ticketing Corporation (PTTC). The consortium also includes the world leader in smartcard ticketing systems for public transport, Cubic Transportation Systems (CTS); Australia’s largest bank — Commonwealth Bank of Australia; and one of Australia’s largest electrical engineering firms — Downer EDI. epay already offers transport solutions in Australia, the United Kingdom and Poland.
Bell ID card and application lifecycle management and ViVOtech NFC m-payments, loyalty and marketing applications/readers have partnered to provide integrated Trusted Service Manager (TSM) mobile solutions for NFC handsets. This allows end users such as mobile network operators, financial institutions and third party processors a range of alternatives to implement NFC TSM solutions to provide NFC/TSM mobile solutions to their customers. This is made possible with Bell IDâs market proven high volume card, application lifecycle and key management systems and ViVOtechâs award winning mobile wallet software, patented over-the-air (OTA) provisioning solution, and coupon issuance/redemption software, to provide a feature rich and complete TSM software offering for NFC handsets. Consumers can download merchantsâ loyalty, gift and prepaid cards and enrich these cards to automatically redeem loyalty points and take advantage of discounts or request electronic coupons and discount offers, store them in their mobile wallets, and electronically redeem them at POS.Details