BASE24-EPS

ACI Worldwide electronic payments software and solutions announced Smartlink Card Services Joint Stock Company (Smartlink) is deploying its “BASE24-eps.” As ACI’s software for online payments processing, on IBM Power Systems infrastructure, “BASE24-eps” will provide for Smartlink, one of the largest national retail payment switch companies in Vietnam, a shared payment switch between its member banks. This enables card holders to use any ATM, without being restricted to their own bank’s ATM network, allowing card holders in Vietnam access to cash wherever they are through the more than 10,000 ATMs across the country. Smartlink chose the ACI solution to meet current market demands and roll out new functionality and customer services easily and cost-effectively. The “BASE24-eps” software will allow Smartlink to roll out direct ATM driving, POS driving, and connections to Visa, MasterCard, American Express, JCB and Diners Club in the future.

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DAHABSHIIL

The CEO of Dahabshiil international remittance business has called for support from the international community to work with the private sector in Somalia. External recognition is required to support the private sector in the reconstruction and development of the region, given the constraints facing Somali businesses. The private sector in Somalia needs international support to help create more jobs and encourage investment in the region. This, however, is discouraged due to the perception of Somalia and a lack of understanding of how the private sector works from international banks making it harder for businesses to obtain capital. Aside from individuals, over 95% of the international organisations in Somalia rely on Dahabshiil payment services.

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ACI Inks Deployment Software Agreements in Vietnam

ACI Worldwide electronic payments software and solutions announced Smartlink Card Services Joint Stock Company (Smartlink) is deploying its “BASE24-eps.” As ACI’s software for online payments processing, on IBM Power Systems infrastructure, “BASE24-eps” will provide for Smartlink, one of the largest national retail payment switch companies in Vietnam, a shared payment switch between its member banks. This enables card holders to use any ATM, without being restricted to their own bank’s ATM network, allowing card holders in Vietnam access to cash wherever they are through the more than 10,000 ATMs across the country. Smartlink chose the ACI solution to meet current market demands and roll out new functionality and customer services easily and cost-effectively. The “BASE24-eps” software will allow Smartlink to roll out direct ATM driving, POS driving, and connections to Visa, MasterCard, American Express, JCB and Diners Club in the future.

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MasterCard to Launch Open API Developer Portal

As part of “MasterCard Labs,” MasterCard Worldwide is set to launch its Open Application Programming Interfaces (Open APIs) initiative for third–party and independent software developers around the world. Allowing developers to create a new wave of e-commerce and m-payment applications, this will provide developers with technical documentation, software development kits (SDKs), sample source code, reference guides, and “virtual sandboxes” for testing new and innovative applications. A developer forum designed to spur collaboration between MasterCard engineers and developers will also be an integral component of the new portal. MasterCard has identified approximately 20 platforms and services that it plans to open up to developers via the portal to provide additional functionality and enhancements to payment capabilities. The Open APIs will ultimately further enhance the development of new applications and systems beyond those currently available, including CRMs, ERPs, online games, merchant e-commerce web sites, eWallets, mobile applications, and payroll systems.

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Genesis Financial Solutions Converts $250MM In Credit Card Portfolios

OR-based originator, owner and servicer of credit-sensitive unsecured
receivables Genesis Financial Solutions has converted 60,000 small
business credit card accounts totaling $250MM in receivables to its
servicing platform. Genesis coordinated the conversion among multiple
global investment banks and an institutional investor. As a result of
the transaction, Genesis Financial Solutions is now the successor
servicer for two of the four noteholders, and both successor servicer
and acquirer of the assets for a third. The conversion required Genesis
to develop, analyze and execute a complete Account Management strategy
and implementation plan. Genesis Financial Solutions is known throughout
the industry for managing distressed unsecured consumer receivables and
structuring and executing complicated transactions. Over the past
several years, Genesis has completed several similar transactions,
including the acquisition of a $250MM pool of distressed credit card
accounts from a top five issuer.

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Fresco Logic Rolls Out USB 3.0 Host Controller Chip

Fabless semiconductor Fresco Logic, developers and marketers of USB 3.0
connectivity solutions, has unveiled its “FL1009” two-port USB 3.0 Host
Controller with PCI Express Gen II interface. The “FL1009” is based on
Fresco Logic’s “GoXtream xHCI Accelerator Engine”, which is capable of
delivering performance and is also optimized for low-power
operation while minimizing total system cost and design cycle time.
Fresco Logic’s “USB-IF SuperSpeed USB Logo Certified GoXtream xHCI Host”
accelerator architecture allows each USB port to sustain full bandwidth
of USB 3.0 throughput and provides headroom to support next-generation
true 1080p high-definition video-streaming applications and UASP-enabled
storage devices.
The FL1009 supports xHCI Rev 1.0 specification, USB 3.0 Rev 1.0
specification and is backward compatible with USB 2.0 and USB 1.1.
Customers can benefit greatly by leveraging design
effort and launching multiple product platforms at the same time.

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USA Technologies Expands Cashless Vending

USA Technologies has expanded the JumpStart cashless vending program.
In addition to the ePort “EDGE” terminal, the Company is adding the ePort
“G8” terminal to its “JumpStart” program, and giving customers the option of
participating in both the traditional ‘no purchase’ plan and a new
‘GoBo’ (Get One, Buy One) plan option. This will allow customers to receive
hardware devices free of charge if they commit to purchasing the same
number of devices by December 31, 2010. The ePort “EDGE,” which accepts swipe cards only,
one-piece cashless reader and controller combo is PCI Level One compliant.
The JumpStart package also includes the ePort Connect services package
for wireless connectivity, card processing, consumer services, online
reporting, and over-the-air machine alerts. The JumpStart program has contributed to the number of cashless
connections USAT has added to its USALive Network, and accounts for
approximately 79% of ePort unit shipments during the first quarter. There were approximately
73,000 devices connected to the Company’s USALive Network.

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80% of Small Businesses See Economic Conditions Improving

Nearly 80% of the small business owners believe economic conditions are either improving or holding steady. In addition, 39% of small business owners report their company’s financial situation is better than it was last year for an increase of 11 percentage points over 4Q/09 while 38% report a stable financial situation over the past 12 months. This, according to the Capital One Small Business 1Q/10 “Small Business Barometer,” also shows 70% of the small business owners are able to access the credit or financing they need; more than 60% plan to maintain their current level of spending on business development and investments; and 62% do not have plans to hire new talent over the next six months. Meanwhile 69% are looking to grow their business by increasing turnover, sales, and number of customers; 33% would like to expand their premises, add new sites or move into new markets; 48% cite the ability to obtain new customers as one of the biggest challenges they will face; and 30% cite the need to maintain existing customers. Also, 50% of small business owners intend to finance their growth through commercial banks and lenders; 33% intend to finance their growth through personal savings; and 9% intend to use financing from outside partners.

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Datacard Group Appoints New Regional Vice President

Tony Rakun has been appointed the regional VP, sales and service delivery with Datacard Group secure ID and card personalization solutions for the United States and Canada region. Previously the leader of the national account management team, Rakun brings with him years of knowledge to this role and will maintain direct oversight of the national account managers. He will add management responsibility for government sales, indirect sales, technical pre-sales and service delivery teams. Rakun has been with Datacard sales for 25 years and holds a Bachelors of Business Administration from the University of Wisconsin.

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VeriFone Offers Payment Security Monitoring

VeriFone Systems has made available its “VeriFone PED Authentication Service” (VPAS) as an added layer of PIN entry device (PED) security, designed to deter criminal installation of compromised devices at retail locations. This adds an exclusive layer of on-site security to monitor devices for increasingly sophisticated attacks. These sophistications are at the network level, the device level, and the retail environment itself. Initially available with VeriFone’s “VX Series,” “MX Series,” “SC 5000” and “Omni 3700” series devices, the “VPAS” solution with established PIN pad security best practices allows merchants and service providers to significantly upgrade their level of protection using the Unique Manufacturers Authentication Key (UMAK). These bind each device to a physical location at the POS, which then transmit their UMAKs at frequent intervals so that VPAS is able to detect installation of criminal devices.

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FidBook NFC Application Set to Store Multiple Cards

FidBook NFC application, which allows load and use
loyalty cards and coupons on a NFC phone, has officially launched its Nice
by Orange, SFR, Bouygues Telecom and NRJ Mobile. In
addition to transport and payment services, consumers are eager to use
NFC phones as a ‘wallet’ for bulky loyalty cards. AIRTAG creates “FidBook”
a simple NFC application enabling to load, use and manage loyalty cards
on a NFC phone and get advantage of coupons, discounts and premium
services at participating retailers. FidBook features a faster new
program enrollment with a unique Profile Management for all cards. By
waving a mobile phone , the user manages, downloads loyalty points and
get advantages and can display of loyalty accounts.

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