RDM EXEC

Randy Fowlie has been appointed to the RDM Corporation Board of Directors. Specializing in software and hardware products for electronic payment processing, RDM chose Fowlie for the position thanks to his extensive experience. He operated a consulting practice since 2006 after having previously held the position of Vice President and General Manager, Digital Media, of Harris Corporation software and hardware company. From 1998 to 2005 he served as Chief Operating Officer and Chief Financial Officer of Inscriber Technology Corporation, a software company acquired by Leitch in 2005. Previously Mr. Fowlie was a partner with KPMG LLP, Chartered Accountants, where he worked from 1984 to 1998.

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EVERLINK

Caisse Populaire Groupe Financier Ltée has selected Everlink Integrated Payment Solutions and Services as their service provider to process transactions. Signed as part of the Everlink Master Services Agreement, Caisse Populaire Groupe Financier Ltée joins financial institutions by entrusting their transaction processing to Everlink. This new multi-year agreement allows Everlink to provide a growing number of industry-leading products and services to a strong financial institution.

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VERSAPAY

VersaPay Corporation merchant credit, debit, gift and loyalty card payment processing and electronic funds transfer solutions has ranked 8th on the 11th annual PROFIT HOT 50 ranking, after achieving annual revenue growth of 1,107% from 2007 to 2009. The PROFIT HOT 50 is the definitive ranking of Canada’s Emerging Growth Companies. Published in the October issue of PROFIT magazine and online at PROFITguide.com, the PROFIT HOT 50 ranks young firms by two-year revenue growth. VersaPay’s financial technology enables businesses and consumers across Canada to accept and process credit, debit and gift card transactions.

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ProPay Offers MACU Members Advanced Payment

ProPay End-to-End Payment Security, credit card processing, and electronic payment service is set to offer Mountain America Credit Union (MACU) members capabilities to conduct house payments, car payments and fund accounts using any Visa, MasterCard, Discover or American Express card through its “LenderPay” solution. With this, MACU estimates annual realized savings of as much as $20,000 by completely eliminating their transaction fees and costs associated with these payments. In Addition, ProPay’s “ProtectPay” end-to-end secure payment solution stores credit union members’ data in a PCI DSS compliant environment.

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VISA

Great-West Life enefits provider has signed an agreement with U.S.-based Evolution Benefits to develop Health SolutionsPlus Visa payment card for healthcare spending accounts (HCSAs). The Health SolutionsPlus Visa payment card, which will be made available in Canada for the first time through Great-West Life, will be loaded with a group plan member’s HCSA funds. The card will allow members to conveniently pay for covered health-related products and services from providers authorized by Great-West Life, using the provider’s existing Visa payment processing equipment. This will significantly reduce the need for plan members to pay upfront and submit paper or electronic claims for reimbursement, thereby decreasing out-of-pocket expenses.

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International ACH Added to ACOM Software

ACOM has incorporated with its “EZPayManager” payment software International ACH Transaction (IAT) capability, offering users simple cross-border ACH processes without the delays and security issues inherent to mailing checks. The initial implementation facilitates ACH transfers between the United States and Canada, with implementations for other countries to follow as needed. The company also expects to add the capability in its “EZPayManager/400” software for the IBM i market in the near future. ACOM has been automating document and payment processes for more than 4,000 organizations, across all industries.

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E2E Encryption Relieves PCI Compliance Costs

Merchants can more easily comply with and reduce the cost of Payment Card Industry (PCI) requirements, which currently amounts to more than $2 billion annually, with payment card encryption infrastructure. The report by Mercator Advisory Group entitled “The Encryption Imperative: Card Payments, PCI and Protecting Cardholder Data” concludes that with card data encryption merchants are can eliminate their ongoing compliance costs. Sponsored by VeriFone Systems and Transaction Network Services, the report says end-to-end infrastructure is no longer a “difficult-to-manage” task and can be implemented as a system or through managed services.

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Akamai Launches EdgePlatform Tokenization

Akamai Technologies cloud optimization unveiled the “Edge Tokenization” electronic payment security service on its “EdgePlatform,” allowing credit card data to be converted to a token prior to Web transactions landing on a merchant’s infrastructure. By alleviating the requirement for retailers to route customer credit card data on their own infrastructure, the service helps reduce information theft and compliance risk while lowering PCI-DSS compliance costs. With “Edge Tokenization,” consumer credit card data is identified and replaced with an anonymous token, which is automated within the Akamai cloud to provide exceptional levels of payment security and operational convenience for Web retailers without the need to increase spending on internal infrastructure. Akamai has integrated its cloud-based technology with tokenization solutions from CyberSource payment management services.

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Five Travelocity AmEx Users Awarded Dream Trips

Travelocity, American Express and Barclaycard US revealed the five lucky consumers who were awarded once-in-a-lifetime trips to Chile, New Zealand, South Africa, Switzerland and Orlando in the “Travelocity Rewards” American Express Card Sweepstakes via Webcast. Wrapping up the promotion, which ran during the summer to celebrate the launch of the “Travelocity Rewards” American Express Card issued by Barclaycard US, the winners were selected to travel to such destinations as Santiago, Chile; Auckland, New Zealand; Cape Town, South Africa; Zurich, Switzerland; and Orlando, FL. Additionally, they will be outfitted with their own Travelocity Roaming Gnome and digital camera so they can document their trip and share photos on the Travelocity website. The “Travelocity Rewards” American Express Card carries an annual fee of $39 and awards users five points for every dollar spent at Travelocity who can choose from restaurant, groceries or gas to earn an additional two points for every dollar spent within their selected category. One point is rewarded for every dollar spent on all other purchases.

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MosChip Launches Multi-Function PCI Express Controller Chip

MosChip Semiconductor Technology connectivity solutions announced its “MCS9950” multi-function PCI Express (PCIe) connectivity with display controller chip. This multifunction controller chip boasts built in support to enable a variety of PCIe to multiple I/O connectivity and display options. Well suited applications include connectivity for docking stations in popular media players; serial attached devices; serial networking / monitoring equipment; POS terminals; embedded systems I/O expansions; and industrial control, security, monitoring and PC applications. The “MCS9950” supports a XGA — up to 1024 X 768 — compatible display controller, up to four serial ports, a parallel port and eight GPIOs. It provides a one lane (x1) 2.5 Gbps PCIe bus.

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PlaySpan Platform Achieves PCI Level 1 Certification

PlaySpan monetization solutions for digital goods, social networks, online games and videos has received certification of Level-1 PCI-DSS for its “Monetization-as-a-Service” (MaaS) Platform from the PCI Security Standards Council. In addition, PlaySpan achieved SAS 70 (Statement on Auditing Standards No. 70), one of the most stringent auditing standards for service companies. SAS 70 was developed by the American Institute of Certified Public Accountants (AICPA) for service providers that wish to demonstrate a high level of control effectiveness to independent auditors. It has become one of the most widely recognized auditing standards for service companies.

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2Q/10 CU Credit Card Folios Grow 7.4% Y/Y

Second quarter 2010 credit union credit card portfolio trends show for the roughly 2,150 credit unions with credit card portfolios of $1 million and larger outstanding balances grew at an annual rate of 7.4% between June 2009 and June 2010 to $34 billion, continuing the trend of mid-single digit growth, for which total assets grew at an annual rate of 6.8% over the same period. Meanwhile, card accounts grew at a 3.1% annual rate over the same period to 12.6 million; cards as a percentage of total assets increased slightly to 4.6 percent in the second quarter of 2010, up from 4.5% in the second quarter of 2009 ad credit card penetration continues to trend near 18%. Data provided in this analysis is for credit card portfolios larger than $1 million in each time period. These findings are based on AssetExchange credit union credit card portfolio advisory analysis.

% Bal Grth/Asset/C-Os
JUN 06 11.7 4.1 1.6
JUN 07 16.0 4.4 1.5
JUN 08 16.8 4.7 2.4
JUN 09 8.0 4.5 4.2
JUN 10 7.4 4.6 4.5
SOURCE: AssetExchange

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