Capital Payments Gets Trustwave PCI DSS Compliance

E-payment solution provider Capital Payments has partnered with Trustwave for
PCI DSS compliance
validation solutions to its merchant portfolio. The “TrustKeeper 3.0” web portal makes
compliance validation easy and
efficient for merchants, including non-technical users. Using the
dynamic PCI Wizard in conjunction with TrustKeeper Agent, merchants work
through a personalized, guided interview that reduces the complex
terminology of PCI into understandable actions. Further, TrustKeeper
Agent ensures merchants aren’t storing unencrypted cardholder data or
track data. TrustKeeper also helps them complete the PCI Self-Assessment
Questionnaire, schedule required scans, and receive their PCI DSS
compliance certificate. TrustKeeper 3.0
provides online educational and compliance tools for merchants that
build awareness of the PCI DSS requirements, and teach them how to take
action. Online video tutorials guide merchants through general
cardholder data security, the PCI DSS and how to comply with the
standard. On-demand help text, tutorials and tools such as TrustKeeper’s
Security Policy Advisor and Security Awareness Education ensure that
merchants efficiently complete PCI DSS certification.

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Transact Network Taps Prepaid Card Vet As New CEO

E-money issuer Transact Network has named Colin Greaves, an industry-leading figure in the European
prepaid market chief executive officer and a member of
the board of directors. He is scheduled to begin in July.
Greaves was most recently operations director of Newcastle Building
Society, where he led the creation and development of a number of B2B
service companies, including growing Newcastle Card Solutions (NCS) –
Newcastle’s renowned and market-leading prepaid card division. Under his
leadership, NCS became and remains the largest prepaid card issuer in
the United Kingdom and Europe and one of the top five issuers in the
world, settling more than US$1.6 billion of transactions in 2009. During
his tenure at NCS, the company achieved many notable firsts including
initiatives in gift, teen, travel and money share cards, and also issued
Europe’s first prepaid contactless cards. Transact Network clients include regulated financial institutions,
financial services companies, marketing organizations, mobile phone
operators, retail chains, large and small corporates, and governments.

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VersaPay Generates 65% Y/Y Revenue Growth

VersaPay Corporation merchant credit, debit, gift and loyalty card payment processing solutions posted 1Q/10 increased total gross transaction value processed 83% to $132 million since the year ago quarter. Meanwhile throughout the quarter, monthly gross transaction value processed was $58 million for March 2010 and total revenue was $2.6 million, a 67% increase
from total revenue of $1.6 million in 1Q/09. The year-over-year improvement in VersaPay’s top line was driven primarily by growth in the Company’s transaction processing fees, which were $2.4 million, up from $1.4 million in 1Q/09 thanks to an expanding merchant customer base. POS product sales revenue was $0.1 million, and revenue from VersaCard and VersaEFT fees was $0.04 million, compared to 1Q/09 sales of $0.1 million and $0.06 million, respectively. Recurring revenue (Transaction processing fees + VersaCard/EFT fees) totaled $2.5
million, or 94% of total revenue, compared to Q1 2009 recurring revenue of $1.5 million, or 92% of total revenue while expenses totaled $3.5 million, compared to 1Q/09 expenses of $1.7 million.

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SmartCard Marketing Launches Credit Card Payment API

SmartCard Marketing has launched its “Application Programming Interface” (API) for merchants
currently using the Velocitymoney.com platform. API allows merchants to completely integrate their customers directly
into “Velocitymoney.com” and transact independently with the full suite of
global financial payment methods including credit card
payments. When a merchant registers with Velocitymoney.com they immediately have
access to a multiple of payment methods of which they can make available
to their customers for payment collection, money remittance, peer 2 peer
transfers, expense reimbursement and payroll. The customer profile
virtual account manager allows merchants the flexibility of tracking and
complying with Patriot Act and KYC (know your client) regulations which
are becoming more stringent.

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Hypercom Data Encryption Meets SPVA Requirement Guidelines

Hypercom Corporation “HyperSafe Secure” suite of payment data encryption technology meets the new security requirement guidelines issued by the Secure POS Vendor Alliance (SPVA). Now available globally, the Hypercom end-to-end encryption technology was introduced in 2006. Unlike recently introduced competitor solutions that require the purchase of custom equipment or utilize third party decryption services, EFTSec leverages a bank’s or retailer’s existing network infrastructure. In October 2009, Hypercom announced five key initiatives to boost the payment card industry’s ability to thwart payment card data fraud. The SPVA end-to-end security requirement guidelines are designed to promote information security best practices and provide merchants with a clear understanding of what encryption features should provide to reduce information security risks related to payment account data.

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C$ cMoney Appoints William Watson as COO

William Watson has been appointed COO for the TX-based cMoney mobile technology company. Bringing with him 20 years’ experience of, Watson will oversee the everyday operations and functions of C$ cMoney, resolving any issues that may arise and ensuring the system-wide implementation of the company’s policies and procedures. He is well versed in executive management and leadership for Neupara Corporation and International Mobile Communications, focused on telecommunications and mobile technology services. With Neupara, Watson managed global sales, business development, operations, network design and construction, identifying technology partners, and device/chip set development. He was responsible for winning $30 million in contracts for project management and software development services with international mobile carriers Sprint, AT&T, S2M, Telephonica, BellSouth International, SK Telesis, KT Telecomm and Pixtree.

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First Internet Bank Expands mBanking Services

First Internet Bank released its text message account access banking service. This allows customers to receive their current account balance and transaction history via text message in a matter of seconds. Customers may activate the service for their phones through the Bank’s secure website. Once enrolled, customers simply text commands to a designated short code to get a real-time account balance report or receive an update on the most recent transactions on an account. Customers may also sign up to receive a weekly balance alert, sent each Friday. In 2008, First IB introduced mobile web banking, a browser-based solution that allows customers to check balances, review transaction history, transfer funds, and pay bills.

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Company Profile for FSV Payment Systems

TX-based FSV Payment Systems, established in 1999 as a prepaid card processor and program manage, has since implemented hundreds of prepaid programs. Currently processing millions of prepaid cards and billions of dollars each year, FSV’s in-house proprietary processing platform and customer service center results in faster time-to-market delivery and superior client and cardholder service. FSV provides a comprehensive suite of prepaid cards, products and services to a broad range of clients, including: retail (general purpose reloadable and gift); payroll; government disbursements (unemployment, child support, etc.); rebates, promotions and incentives; and healthcare.

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CRIF Opens U.S. Headquarters

Global credit service provider CRIF has opened of its North American headquarters
office in Atlanta, Georgia. The office will serve as the operational hub for the
CRIF Lending Solutions family of companies that includes Teres,
Magnum, FLS Services, APPRO CRIF and Aimbridge. The companies will each
maintain their respective regional offices. Hundreds of the nation’s top financial institutions and lending
organizations now rely on loan origination technology, outsourced loan
processing services, and analytics solutions offered by CRIF. Key
product and service offerings include, loan origination, outsourced loan processing and analytics –
CRIF is a global company specializing in the development and management
of credit reporting, business information and decision support systems.

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NIH FCU Outsources ATM Management to First Data

MD-based National Institutes of Health Federal Credit Union
(NIHFCU) will outsource the management of its ATMs to payment processor First Data.
The credit union also has renewed its agreement for electronic funds
transfer (EFT) services through First Data’s STAR Network. First Data and its partner NCR will provide full-service ATM management
services, including ATM driving hardware and software, ATM first line
and second line maintenance, and Check 21 deposit acceptance. NIHFCU
will use NCR APTRA Deposit Gateway, a web-based software-as-a-service
(SaaS) solution that enables financial institutions to perform check
image processing for envelope-free deposits made at the ATM.
In addition to providing STAR Network access, First Data also will
provide signature debit processing, and the credit union’s account
holders gain access to more than 37,000 surcharge-free ATMs through
STARsf. NIHFCU also offers access to its cardholders at other
surcharge-free ATM networks. STAR is one of the nation’s leading EFT networks with more than two
million retail and ATM locations. The network has processed more than
3.6 debit transactions in the U.S. in each of the last three years.
NIHFCU currently serves more than 42,000 members through 10 branches and 28
NIHFCU-owned ATMs conveniently located in the Washington, D.C. and
Baltimore, Md. metro areas.

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Fiserv Trial Sees 25% Merchant RDC Increase

The Fiserv “Merchant Acceleration Program” helped most participants increase the number of merchant remote deposit capture (RDC) users by at least 25%. The “Merchant Acceleration Program” is designed to help increase awareness and adoption of merchant capture solutions by businesses and help financial institutions target industries that are typical users of merchant capture better serve these businesses. Merchant capture enables paper checks to be scanned as electronic images so deposits can be made from a remote location, such as a store or office, to a financial institution account without travelling to the branch. Fiserv introduced its “Merchant Acceleration Program” in 4Q/09 as a trial, in which 10 banks participated, prompting Fiserv to extend the program to all Fiserv merchant capture clients in 2010.

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Visa payWave Gains Momentum

Visa Canada announced that the roster of Visa payWave-enabled merchants continues to grow, enabling Canadians to make secure, more convenient transactions and experience fewer and quicker line-ups when buying a cup of coffee, a bite to eat or other every day purchases.
In recent months, an increasing number of new merchants have signed up to receive the advantages of Visa payWave. Using their Visa payWave-enabled cards, Visa cardholders can shop at some of Canada’s most popular merchants, including SUBWAY, Second Cup, The Jean Coutu Group, Country Style and Coffee Time. Visa issuers have also embraced contactless technology. TD Canada Trust and RBC Royal Bank value the convenience, security and speed of Visa payWave and are actively issuing Visa payWave cards to their customers. By the end of 2010, it is expected that there will be several million Visa payWave cards in the Canadian market.

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