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 VeriFoneâs “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.Details
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.
SkyWire Mediaâs Coupon Connect was named by Casino Journalâs as a “Top
20 Most Innovative Gaming Technology Products Awards 2009”. SkyWire
Mediaâs “Coupon Connect” delivers coupons via text message and is fully integrated
with InfoGenesis POS by Agilysys and MICROS 9700 POS systems. The
integration of Coupon Connect to POS allows static and dynamic coupons
to be validated and redeemed directly through the POS.
This validation reduces theft by eliminating fraudulent coupon
redemption. “Coupon Connect” also integrates with Player
Tracking systems, allowing operators to create campaigns that target
their prized database of loyal customers. Marketers can create campaigns
that direct offers based on the playerâs level.
NY-based Saelig Company has released “LM048SPA”, a printer-specific
version of the Bluetooth Class 1 RS232 adapter
especially suited to POS applications. The printer can be up to
100m distant while “LM048SPA” is designed to replace standard RS232 serial
cables connected to printers and is factory-preset for
communication at 19200/8/N/1. This allows the flexibility to
configure LM048SPA to any specific EPOS, POS, or printer application.
LM048SPA supports serial baud rates of
4.8/9.6/19.2/38.4/57.6/115.2/230.4 Kbps. The added security of Bluetooth
V2.0+EDR allows safe and secure wireless data transfer, with
auto-connect authentication via pincode and âNon Discoverable Modeâ
activation. LM048SPA has an operating temperature range of -20Â°C to
+75Â°C. FCC/CE/ RTTE-certified LM048SPA features a miniUSB socket, so it
can be powered from an included 110V adapter or 5VDC at 90mA from USB
port via a miniUSB-USB cable.
Moody’s Investors Service has assigned definitive
ratings to the Class A and Class B Floating Rate Series 2010-1 Notes and the Class A and Class B Fixed Rate Series
2010-2 Notes issued by Cards II Trust.
The ratings are based on the quality of the underlying pool of credit
card receivables, the expertise of the seller/servicer, Canadian
Imperial Bank of Commerce (Aa2/P-1), the transaction’s legal and
structural protections, including early amortization triggers, and credit
enhancement in the form of excess spread. The Floating Rate Series 2010-1 Class A Notes constitute 89.75% of the
total invested amount and are enhanced by a subordinate Class B Note
which constitutes 10.25% of the total invested amount. The Series 2010-1
Notes have a May 15, 2012 expected principal payment date.
The Fixed Rate Series 2010-2 Class A Notes constitute 92.75% of the total
invested amount and are enhanced by a subordinate Class B Note which
constitutes 7.25% of the total invested amount. The Series 2010-2 Notes
have a May 15, 2013 expected principal payment date.
Moody’s expects performance in the range of 4.5%-6.5% for net
charge-offs, 20.0%-23.0% for yield and 33.0%-39.0% for the payment rate.
Nowy Tomysl Bank has adopted an integrated self-service banking solution from Diebold, Incorporated that includes Opteva hardware, Agilis EmPower software and maintenance services. The contract includes the delivery of two Opteva 328 machines that offer cash dispensing and online deposit in bundles of up to 200 banknotes into a single low-footprint system. The Opteva 328 is also fully ready for automated cash recycling of Polish Zloty and Euro banknotes, offering an opportunity to easily upgrade the system as regulations or business needs require — thus protecting the bank’s investment. To ensure a smooth integration of the Opteva 328 in the bank IT environment, the Diebold Agilis EmPower software features dual server connectivity. The traditional ATMs transactions are driven by the bank’s ATM server while online deposit transactions are processed thru the Softnet branch application of the bank. Therefore, Agilis EmPower enables the addition of an advanced set of transactions with no requirement of an expensive upgrade to the ATM driver. The bank has deployed two Opteva 328 banknote deposit and dispensing systems, as well as five Opteva 522 cash dispenser. The rollout was completed in the third quarter of 2009.Details
Eurosmart General Assembly gathering in Munich unanimously elected a new Bureau, which is mandated by the Steering Committee to ensure the day-to-day management of the Association and to ensure the efficient implementation of decisions. The members include:
Marc Bertin (Oberthur Technologies), reelected Chairman for a second mandate; Oyvind Rastad (Gemalto) and Thomas Froschmeier (Giesecke & Devrient) newly elected Vice-Chairmen and Dr. Helmut Gassel (Infineon), reelected as Treasurer for a third mandate. Bruno Dupont as Secretary General is also part of the Bureau but with no voting right.
Eurosmart Chairman underlined 2009 key achievements to promote the Smart Security Industry and delivered a vision for future developments.
Among the priorities for 2010, the General Assembly decided to launch a new Task Force on Biometry to elaborate a vision of the Biometric technology state of the art and best use cases, as well as technical choices of implementation when in combination with Smart card technology. The approach of the Task Force will be to explain Biometrics and its applications; To develop a vision on the “Internet of Things”: a digitalized world will require more security, as well as privacy and data protection; to strengthen the mission of education through high level trainings on the latest innovative ICTs, starting with Machine-to-Machine sessions; to keep promoting interoperability and European standards and to improve security certification by pushing for the convergence of certification schemes and developing guidelines on security levels.
The Electronic Funds Transfer Act (Regulation E) will require consumers to opt in for overdraft protection for debit and ATM transactions, beginning for new customers on July 1, 2010 and for existing customers on August 15, 2010. Considering only 9% of bank customers contribute 80% of banksâ NSF fees, financial institutions stand to lose between 40 and 60 percent of annual overdraft income from this new regulation. Seventeen percent of all households report that they are either âextremely likelyâ or âvery likelyâ to opt in for overdraft coverage for debit card purchases and ATM withdrawals, but ATM/debit cardholders with overdraft activity are almost twice as likely to opt in for coverage than other consumer segments. Twenty-nine percent of ATM/debit cardholders with overdraft activity on their accounts will likely opt in while those with seven or more overdraft occurrences in a year are most likely to opt in to continue receiving this service. This, according to a recent study by Raddon Financial Group (RFG), concludes 51% of households report that they will not opt in because they have no need for overdraft coverage, as they never overdraft their accounts; 53% of households extremely to somewhat likely to opt in do not intend to overdraft and the service is free if they donât use it; while 46% opt in because they want to guard against the potential of having a transaction declined.Details
Entertainment group Stratus Media Group announced the signing of a Co-Branded Credit Card Agreement with CornÃÂ¨r Bank to offer the Stratus Rewards VISA White card. CornÃÂ¨r Bank is an important private bank that is one of the top VISA card issuers in Switzerland and a founding member of VISA. Stratus Rewards is a division of Stratus Media Group, Inc. and is a by-invitation-only lifestyle club and credit card rewards system created expressly to support and enhance the affluent lifestyle. CornÃÂ¨r Bank Ltd. offers various banking services to private, institutional, and corporate customers in Switzerland. It also offers private banking services, such as investment consulting, asset management, and tax and retirement planning services.Details
Heartland Payment Systems has launched its new payment card security terminal for merchants and business owners nationwide. Having spent more than two years developing and ten months beta testing and iteratively improving the end-to-end encryption technology, Heartland’s “E3” is designed to protect cardholder card data with scrambled data. Protecting against data breaches, “E3” features layers of security using both software and tamper-resistant hardware with “Advanced Encryption Standard of encryption” (AES). Once a merchant purchases an “E3” terminal or PC-based magnetic stripe reader/wedge, they will experience no changes to their daily routine or the speed of transactions, will have available EMV/chip card technology capabilities and the ability to update encryption technology. The terminal automates the process of continually changing the encryption keys that convert sensitive account information to encrypted data and, if ever breached, Heartland will reimburse a merchantâs breach-related fines.Details
FICO has been awarded 8 new patents by the U.S. Patent and Trademark Office
to the FICO Labs team. The patents cover credit score interpretation, fraud detection, credit
line optimization and other analytic technologies. Three recent FICO patents address the problem of fraud,
including a method for determining whether applications for credit
originate from legitimate applicants or fraudsters; a system that will help
detect and take action on mass compromise of
ATMs; and for a mechanism that finds possible fraudulent
transactions and identifies potential fraud based on specific
credit account data. These inventions were developed to be part of the
FICOâ¢ FalconÂ® Fraud Manager system, which protects some 65% of the
worldâs credit cards. FICO was awarded a patent
for a new method for simulating an analytic value chain. This invention
uses analytics to determine how to optimize the profit of a portfolio of
credit accounts by selectively extending credit line increases to
individuals, based on simulation and development of âlearning strategies.â
Microchip Technology Incorporated microcontroller, analog and Flash-IP solutions has consummated the sale of certain non-core assets from its Silicon Storage Technology (SST) subsidiary to Greenliant Systems. The product lines sold included NAND Drives, NAND controllers, Smart Card ICs, Combo Memory, Concurrent SuperFlash, Small-Sector Flash and many-time Programmable Flash memories. The sale included inventory, equipment, intellectual property, and certain other assets and liabilities associated with the product lines. Approximately 100 employees (18% of SSTâs workforce) transferred to Greenliant as part of this transaction. SST also agreed to provide certain transition services to Greenliant for up to 90 days.Details