WIRECARD SCP

The “Travel Republic” British online travel portal is set to implement the Wirecard AG “Supplier and Commission Payments” (SCP) solution to facilitate its payouts to its more than 60,000 client hotels around the world. The Wirecard “SCP” virtual credit card is based on the automated issuance of virtual credit cards by Wirecard Bank and simplifies global settlement of payments in the B2B segment. In the course of the technical integration, enterprises have a choice: either virtual cards are created manually and loaded with the amount of the payout using a graphical user interface (GUI) or instead on an automated basis by means of an XML system interface.

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TSM NFC

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 ID’s market proven high volume card, application lifecycle and key management systems and ViVOtech’s 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 merchants’ 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.

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Gasboy Gains PCI PA-DSS Compliance

The PCI SSC has validated the Gasboy’s CFN III site controller / POS system Version 3.6 as compliant with the PA-DSS. The system will soon be included on the PCI SSC’s List of Validated Payment Applications. The list identifies payment applications that have been audited by an independent assessor, found to be compliant with the industry’s most stringent set of comprehensive standards designed to protect consumer card and PIN data, then approved by the PCI SSC. These applications prevent storage of sensitive data, such as full magnetic stripe, CVV2 or PIN data, use designated data encryption methods, require strong passwords, and other protections.

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TRANSNET

The Precidia Technologies IP payment and networking payment engine application, “Transnet,” has been integrated with the Crystal Point restaurant POS system from Prime Dine Systems. The “TransNet” applications lets restaurants offer full featured payments with customizable monitoring and management tools. The “TransNet” payment engine software integrates with POS systems like Crystal Point for secure, PCI PA-DSS validated payment processing. Precidia’s payment system features a unique router-based model, with the TransNet hardware housed on the secure, SSL encrypted and firewalled POSLynx220 payment router.

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TPSECURE

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. SafenSoft’s solutions for ATMs, corporate networks, and home computers are all built around the company’s 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.

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Bank of the West to Offer MasterCard Budgeting

Bank of the West will offer its commercial customers MasterCard “Purchase Control,” powered by the MasterCard “inControl” platform. This offers corporations a suite of services to help increase corporate payment card transaction security and program efficiencies, while enabling greater overall budget control. Purchase Control will be available to Bank of the West’s corporate purchasing card clients in early 2011. The “Purchase Control” solution lets users set authorization controls that enable managers to define specific spending parameters for their employees while allowing flexibility for emergencies; establish pre-purchase compliance with corporate spending policies at the front-end in combination with optimized MIS reporting on the back-end; and gain efficiencies by simplifying the reconciliation process through the use of Virtual Numbers and Limited Use Numbers to uniquely identify each transaction.

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TRUESUITE

AuthenTec security, identity management and touch control solutions has introduced its “TrueSuite Mobile” mobile identity management software to enhance the features and functions of the AuthenTec smart sensors in mobile phones. The “TrueSuite Mobile” software leverages customer and user feedback from over 12 million AuthenTec-enabled phones to deliver an optimized, highly intuitive and convenient user experience. Among the many benefits offered by TrueSuite Mobile are simple and secure management of personal data, an intuitive user interface that enables quick and easy setup of the AuthenTec smart sensor, and customizable user settings to enable one-touch phone lock and unlock.

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Hypercom Drops Verifone Suit to Update Stockholders

Hypercom has voluntarily withdrawn its lawsuit against VeriFone Systems seeking to preclude VeriFone from violating a two-year Mutual Nondisclosure Agreement signed by both companies on June 25, 2009. Hypercom disclosed it necessary to withdraw the litigation in order to set the record straight for its stockholders. This comes on the heels of September 24th, 29th and 27th unsolicited proposals Verifone made to acquire Hypercom outstanding shares for $5.25 per share in cash for a total of $290 million, which was unanimously rejected by the Hypercom Board of Directors and for which Verifone incorrectly suggested it had not engaged Hypercom in meaningful discussions. Hypercom also wanted to drop the suit against Verifone to establish for its stockholders the September 24 and September 27th proposals contained terms that the Board concluded significantly undervalued the Company and were substantially reduced compared to several previous private proposals. Recently, however, sources disclosed VeriFone is pursuing a hostile takeover of Hypercom, although Hypercom disclosed projections of a prosperous 3Q/10 high above Wall Street predictions of $112 million in net revenues (Cardflash Library 2010/10/04, 2010/09/30, 2010/10/07).

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Card Chargeoffs Over 10% Once Again

August U.S. credit card ABS chargeoffs were higher and once again crossed the 10% threshold to 10.37% and 10.03%, according to the latest “Prime Credit Card Chargeoff Index” from Fitch Ratings and “Moody’s: Credit card charge-offs higher in August, but signs of improvement continue,” respectively. This demonstrates a 58 basis point (bp) increase from the previous month while Bank of America, Chase, Capital One, Citibank and Discover, all reported higher default rates for the month. Despite the August increase, the charge-off rate is now below the 10% mark at 9.55% on a three-month rolling average basis for the first time since May 2009. In July, the credit card charge off rate continued to slow after climbing for 2 years straight and was down to 8.1%. This was after months of first soaring past the 6% mark in December of 2008, the 8% mark that following spring, and finally the 10% mark in September of ’09 and relieved fears credit card-backed securities would realistically near 12% by this time. This follows average charge-offs in 1Q/10 having reached an unprecedented 10.93% in March, According to CardData (www.carddata.com). For complete details on credit card charge-offs visit Carddata.com (www.carddata.com).

Charge-Offs
JUN 08: 5.3%
SEP 08: 5.5%
DEC 08: 6.0%
MAR 09: 8.7%
JUN 09: 9.5%
SEP 09: 10.1%
DEC 09: 10.6%
MAR 10: 10.9%
JUN 10: 10.3%
JUL 10: 8.1%
AUG 10: 10.2%
Source: CardData
(www.carddata.com)

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Ingram Micro To Distribute Intermec Portfolio

Ingram Micro announced its Data Capture/POS Division will now market, sell and support the complete portfolio of Intermec technologies in both the U.S. and Canada. Intermec is a channel leader in AIDC and mobile computing solutions. As part of the new alliance, Ingram Micro and Intermec will collaborate to enable the success of mutual channel partners actively involved in the Intermec PartnerNet program. In addition, Ingram Micro will also provide Intermec channel partners with a number of business-building resources including field credit, sales, marketing and technical support, as well as training and education around key technologies and market opportunities. The Ingram Micro Data Capture/POS Division is a value-added distributor of auto ID/data capture (AIDC), point-of-sale (POS), radio frequency identification (RFID) and wireless solution products and services.

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SafenSoft ATM Security Recognized for Innovation

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. SafenSoft’s solutions for ATMs, corporate networks, and home computers are all built around the company’s 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.

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