TNS & Verifone Strengthen Industry Payment Transaction Security

TNS Managed POS Encryption solution coupled with “VeriShield Protect” from VeriFone Systems is being implemented to eliminate the transmission of “clear” cardholder data within a client’s payment network environment. This is designed to protect its customers’ cardholder data from the POS terminal through to its payment processor, dramatically reducing risk exposure and simplifying the retailer’s ability to achieve PCI compliance. VeriFone’s “VeriShield Protect” is deployed at the retailer’s POS devices and using encryption technology to secure the information as the card is swiped. The TNS Managed POS Encryption solution transports encrypted transactions through to the TNS PCI DSS certified global backbone network. The solution then manages the decryption process, message formatting and secure delivery of the transaction to the retailer’s payment processor.

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Unified Enterprise Awarded Best eSecurity

Global DataGuard network behavior analysis-based Unified Enterprise Security and Unified Enterprise Cloud Security announced Network Products Guide has named its “Cloud Guard” technology suite a winner of the 2010 Best Products and Services – Readers Trust Award for Virtual Network Security. The “Cloud Guard” portfolio fully integrates patented network behavior analysis and correlation technology with PCI-enabled intrusion detection; vulnerability scanning and management; log management, analysis and monitoring; network access and policy monitoring, and comprehensive threat management capabilities. It’s also supported by the CloudCheck™ Certification Program, a vendor-neutral service that enables businesses to ensure their cloud or hybrid networks meet stringent government and industry standards pertaining to the confidentiality, integrity and security of sensitive customer data.

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Bankruptcies to Hit 1.6mm by Years End

New court data shows that overall bankruptcy filings in the U.S. rose 9% in May from a year earlier and are on track to top 1.6 million filings by the end of the year. Consumer filings declined 6% in May from the 144,490 consumer filings recorded in April 2010. The 136,142 consumer filings in May represented a decrease of 5.78% from the 144,490 filings registered in April, according to the American Bankruptcy Institute, relying on data from the National Bankruptcy Research Center. Chapter 13 filings constituted 26% of all consumer cases in May, a slight increase from April. According to the Administrative Office of the U.S. Courts, total filings in the first quarter of this year hit 363,215, compared to 361,339 for 4Q/09. Consumer filings for the 12-month period ending May 30th, totaled 1,617,467.

BANKRUPTCY FILINGS
May 09: 124,838
Jun 09: 116,345
Jul 09: 126,434
Aug 09: 119,874
Sep 09: 124,790
Oct 09: 135,913
Nov 09: 112,152
Dec 09: 113,274
Jan 10: 102,254
Feb 10: 111,693
Mar 10: 149,268
Apr 10: 144,490
May 10: 136,142
Source: ABI/NBKRC; CardData.com

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BEMAS Integrates WiredCommute with PayDirect

BEMAS Software has selected WiredCommute’s cutting-edge solution for commuter benefits for its clients, which will be seamlessly integrated into BEMAS’s PayDirect software. This new capability complements the Evolution Benefits’ prepaid card already integrated into the PayDirect System which provides instant access to pre-tax commuter funds at the point of purchase. Supporting over 35 of the nation’s premier benefit administrators, WiredCommute offers a customizable commuter benefit solution designed for Third Party Administrators (TPAs), payroll companies, and benefit card providers – as well as any benefit-related organization looking to provide private-labeled commuter benefits and program administration with nation-wide coverage and acceptance.

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Wells Fargo Invests in Cleantech Open

Wells Fargo has invested in the Cleantech Open business plan competition that encourages the development of clean technology companies and innovation. The investment marks the first multi-regional sponsorship covering five regions in the history of the competition. Wells Fargo introduced its National Cleantech group — a division of the company’s commercial banking group dedicated to supporting clean technology companies. The group provides customized commercial banking products and services to businesses that manufacture, market or develop clean technologies such as solar and wind power, energy and water efficiency, electric and low-emission vehicles, and smart grid applications.

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PREMIER MILES

Citibank has launched its “PremierMiles” Credit Card, providing a comprehensive set of travel benefits in Malaysia. Its innovative concept leverages the bank’s partnerships with major airlines and hotels around the world. It offers a best- in-class “Miles Earn Rate,” widest choice of airlines, non-expiring miles, and a host of features and perks specially designed for the frequent traveler. The card offers cardholders the freedom to fly to more than 150 destinations around the world via 53 international airlines, including Malaysian Airlines (Enrich), Thai Airways (Royal Orchid Plus), Singapore Airlines (KrisFlyer), Cathay Pacific (Asia Miles) and Delta Airlines (SkyMiles). Targeted at the affluent segment whose travel, airlines and hotel accommodation take up to 20 percent of their total spend, ” PremierMiles” hopes to attract some 30,000 new customers in the next 18 to 24 months.

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Youth Cards Present Marketing Opportunity

Prepaid cards that carry network brands are gaining in popularity primarily as gift cards. Accordingly, 42% of consumers received a network-branded (or open-loop) gift card, compared to 67% who had received a store-specific card. This, according to Auriemma Consulting Group (ACG), also shows prospect parents liked the idea of their child having a card to use in an emergency (64%) and felt the card offered greater security for their child than carrying cash (59%). However, fewer than 10% use a prepaid travel or payroll card.

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MONEYSUPERMARKET.CO.UK

Moneysupermarket.co.uk shows the number of credit cards offering 0%
interest on purchases for at least 10 months increased by 450% during
the past year. The number of cards offering 0% on balance transfers
for 10 months or more has increased by 20%. With a number of providers
hiking their rates since the start of the year, the average rate is now
at 18.7%. The credit card market is braced for further change in the
coming months, as card providers will be forced under new rules to move
to a positive payment hierarchy from January 2011. The new ruling will
allow card holders to pay off their most expensive debts first, such as
cash advances.

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CO-OP to Complete Phase 2 NCR ATM Development

CO-OP Financial Services is nearing completion on phase two application
software to allow members of shared branching credit unions to conduct
nearly all financial transactions at existing NCR ATMs. Currently
operational is “CO-OP Fast Branch” standalone kiosk currently installed
in more than 100 locations while phase two is slated for availability
4Q10. Phase three, meanwhile, will offer additional features and
installable via software on ATMs of NCR and Diebold sometime in 2011.
The shared branch transaction capabilities on the ATM will provide
credit union members full account access as if they were at their own
credit union office.

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AMEX

American Express announced its Cardmembers will be at the Front Of The Line on June 28th to attend the gala Canadian premiere of one of The Twilight Saga: Eclipse. On June 23rd at 10 a.m., American Express gave tickets away to Cardmembers for this exclusive event via ticketmaster.ca/amextwilight, which sold out in one minute. The red carpet premiere will feature guest appearances by cast members Bronson Pelletier*, the Canadian actor who plays Jared of the Wolf Pack, and Kiowa Gordon*, who plays Wolf Pack member Embry Call in the film, a gala screening of the movie, and an after party. This special preview event takes place on June 28th, before the movie opens to the public on June 30th, and will be limited to 200 Cardmembers plus a guest on a first come, first served basis.

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Xoom.com Named Best Money Transfer Company

The Inter-American Dialogue released “A Scorecard in the Market for Money Transfers,” showing remittance service providers are offering a wider variety of services and are expanding into more countries. The study measured 16 indicators to conclude Xoom.com is the best company for sending money transfers to Latin America and the Caribbean, outperforming 38 other leading U.S.-based money transfer companies mostly thanks to its transparency and inexpensiveness. Xoom.com also received the highest score for customer satisfaction. Among the 39 companies in the study, Xoom.com is the only money transfer company that does not require an agent or branch location to send money. Customers use the Internet to enter the monetary amount and beneficiary information, select the country and pay partner, pay for the transaction using a checking account or credit card, and even track the transaction.

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