Trustwave DLP + Encryption Names Hot Security Product

Chicago-based security provider Trustwave’s “DLP + Encryption”has been named a “Hot Security Product,” by the editors of ChannelWeb.
Trustwave’s solution integrates its Data Loss Prevention (DLP) with its patented Smart Tag encryption technology to enable persistent and continuous security for data, and Trustwave’s Security Information and Event Management (SIEM) technology delivered through its Managed Security portal, presents an audit trail, completing the cycle of protection. Trustwave DLP uncovers data across the organization and automatically protects it by encrypting the data with the appropriate security policies, thus enabling a ‘Discover Once, Protect Forever,’ capability. The integration of encryption Smart Tags with Trustwave DLP offers the optimum level of protection for data within and outside a company’s network.

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Intersections Reports 10.7% Revenue Increase Y/Y

Intersections financial results for 1Q/10 reflect a revenue of $96.6 million, compared to $87.3 million in 1Q/09 for a 10.7% increase. Consolidated adjusted EBITDA was $6.4 million. Total subscribers decreased to approximately 4.2 million as of March 31, 2010, compared to approximately 4.3 million subscribers as of December 31, 2009, and total consolidated revenue for the first quarter of 2010 was $96.6 million, including $5.1 million from the Background Screening segment, compared to $87.3 million for the first quarter of 2009, including $4.4 million from the Background Screening segment. Subscription revenue, net of marketing and commissions associated with subscription revenue, was $42.8 million for the first quarter of 2010, compared to $40.6 million for the first quarter of 2009, an increase of 5.3 percent. Consolidated cash flow provided by operations for the quarter ended March 31, 2010, was approximately $8.9 million. Intersections’ latest results visit CardData (www.carddata.com).

INTERSECTIONS REVENUES
1Q/09: $87.3 million
2Q/09: $90.3 million
3Q/09: $92.9 million
4Q/09: $94.1 million
1Q/10: $96.6 million
Source: CardData (www.carddata.com)

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MONEYGRAM

Canada Post has added more than 3,000 MoneyGram International money transfer service locations nationwide. With this partnership, money transfer services will be offered in post offices as well as postal outlets. This expansion is the final phase of a multi-year agreement signed in 2008, in which Canada Post, a MoneyGram agent since 2002, agreed to increase the number the locations in which MoneyGram services are offered to customers. To celebrate the expansion, MoneyGram is offering special pricing on sends from any MoneyGram agent location in Canada to anywhere in the world.

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Credit Card Debt Drops to Lowest 2010 Level, +16% Y/Y

Credit scores have remained stable as US consumers begin to pay down seasonal spending and the economy recovers, with the April average sitting at 670, up just one point since the beginning of the year. Credit card debt amongst consumers with a credit card decreased 4% in April to its lowest level in 2010; however, credit card debt is still 16% higher than the 2009 low of $6,641. This, according to Credit Karma’s “U.S. Credit Score Climate Report,” also showed consumers in the San Diego Metro Area showed the biggest decrease in credit card debt by paying down 10% of the balance on their credit cards to $6,464. The Miami MSA came in second with an 8% decrease in credit card debt to $6,640. In terms of states, consumers in West Virginia and Idaho decreased the balances on their credit cards by 8% and 9% respectively. The average consumer with an open account had $7,701 in credit card debt; $177,186 in home mortgage loans; $50,889 in home equity; $14,873 in auto loans and $27,777 in student loans throughout April.

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INSIDE Contactless MicroPass Ships 200 Million Units

INSIDE Contactless has shipped over 200 million MicroPass intelligent payment platform product
with production volume doubling in the 18 months since reaching 100 million units in November
2008. MicroPass is designed to power open
standard contactless and dual-interface bank card payments along with
other value-added applications in all global regions. Based upon a RISC
architecture and optimized to the demanding requirements of contactless
transactions, each of the MicroPass family of products is designed to
meet the demands of issuer organizations in the bank card and mobile
payments, transit, ID and access control markets. Consumers enjoy added
convenience, speed and ease of use afforded by
contactless payments, while issuers and merchants enjoy faster
transaction times, increased spending per transaction, lower operational
costs and penetration into the cash payment market.

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Wright Express Joins PCI Security Standards Council

Wright Express fleet payment processor has joined the
PCI Security Standards Council. As a
Participating Organization, Wright Express will work with the Council to
evolve the PCI Data Security Standard (DSS) and other payment card data
protection standards. As a Participating Organization, Wright Express will now have access to
the latest payment card security standards from the Council, be able to
provide feedback on the standards and become part of a growing community
that now includes more than 500 organizations. Adhering to the PCI DSS represents an
entity’s best protection against data criminals. The PCI DSS is endorsed by American Express, Discover Financial Services,
JCB International, MasterCard Worldwide and Visa.

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STPAY

SolidTrust Pay is now offering payment options, including online credit card processing, direct bank transfers, and a Visa/Debit card program facilitated through First-Pay.com and Globewallet, which allows members to withdraw their funds directly from their STPay accounts onto a prepaid debit card for use anywhere VISA is accepted. Their growing international customer base has allowed SolidTrust Pay to open up numerous options for customers outside of North America – including cheque deposit options in 50 countries. STPay is MLM, network affiliate, and new business friendly, and makes every effort to offer credit card merchant processing and e-wallet services that allow merchants to accept payments from customers around the world. Through continuing efforts to provide hassle-free processing for businesses who may not qualify for accounts with some of their leading competitors, SolidTrust Pay has developed a large module of merchant tools and upgrades that allow merchant account holders to customize their processing! In the past year, SolidTrust Pay has introduced such options as the Transparent API, instant credit card processing, and the Corporate account level which offers protection against chargebacks and online fraud. SolidTrust Pay endeavors to offer merchants account services they need at prices they can afford.
SolidTrust Pay (STPay) has established a customer base approaching 150,000 members from around the world. The company was established in an effort to provide alternatives for those seeking online payment processing and e-wallet services. As customers and business people themselves, they understand the need to bridge the gap between merchants and clients in a seamless manner and have worked tirelessly to provide that service.

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LMI Consumers See Little Change in Spending Y/Y

Low-to-moderate income (LMI) consumers have not significantly changed their overall spending patterns during the last 12 months and are still being affected by the financial recession. LMI consumers are spending the largest percentage of their funds in the “Finance” category (31.13%) which includes cash withdrawals and rent payments, according to the quarterly “Spending and Savings Index” prepared by NetSpend Corporation unbanked consumer services. Based on cardholder data from more than one million US NetSpend customers, among this income demographic, 15.92% of funds are spent on Home; 14.51% on utilities; 10.86% on groceries; and 8.39% on Auto/Gas/Transportation. Although relatively flat, the biggest LMI spending gains were seen mainly in Finance (1.33%), Auto/Gas/Transportation (.78%) and Home (.7%). The largest declines were in the categories of Utilities (-1.78%) and Travel & Entertainment (-.91%). Spending on Food, Personal & Professional Services and Groceries remained largely unchanged.

NetSpend Spending/Savings Index Y/Y
Category 1Q/09 1Q/10
Finance 29.80% 31.13%
Home/Apparel 15.21% 15.92%
Utilities 16.29% 14.51%
Groceries 10.46% 10.86%
Auto/Transport 7.62% 8.39%
Personal Services 6.91% 6.69%
Travel/Entertain 6.70% 5.80%
Food 4.37% 4.10%
Average Savings $47.97 $55.93
SOURCE: NETSPEND

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Capital One Launches Small Business Rewards Card

Capital One has launched its “Venture for Business” premium rewards credit card. Offering small business owners double miles on every purchase, up to 15,000 bonus miles within the first three months and a flexible redemption without typical restrictions, “Venture for Business” card provides cardholders a one-time 5,000 mile bonus when an employee card is activated within the first 60 days. With the new program, there are no limits on when, where or how double miles are earned, no retailer specifications or spending categories, no separate rewards enrollment or re-enrollment requirements, and no limit on the number of miles cardholders can accumulate. When redeeming for travel, cardholders multiply the cost of the purchase by 100 to determine how many miles are needed. Additional “Venture for Business” features allow cardholders 2 miles per dollar on all net purchases, every day; no rewards expiration; no special spending categories; no separate rewards enrollment requirements; 10,000 bonus miles when $1,000 is spent on the card in the first three months; free flight on any airline, any time, with no blackout dates; redmption for travel, cash back, gift cards, merchandise or charitable donations; and no foreign transaction fees.

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Discover Launches Nationwide Teamster Card

Discover Network has launched American Union Financial Services (AUFS) and Amalgamated Bank of Chicago (ABOC) Discover card, initially offered nationwide to select Joint Council Teamster local union members and their families. The AUFS/ABOC Discover card provides cardholders with benefits such as no annual fee, a low annual percentage rate, AmalgaMiles travel rewards, and zero liability on fraudulent transactions. Amalgamated Bank of Chicago was founded in 1922 by the Amalgamated Clothing Workers Union and has always been dedicated to serving America’s working people. As Amalgamated Bank grows, it provides new banking products and services to better serve our customers – unions and union members across the US.

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UVeritech Now Authorized Reseller of L-1 Identity Solutions

Multi-layer fraud prevention solutions provider UVeritech
is now a reseller of the “B-5000 scanner” and “Documetrics Database” by L-1 Identity Solutions secure
credentialing. The agreement authorizes UVeritech to resell the B-5000 scanner and
Documetrics Database to commercial customers in North America expanding
its product offerings of state-of-the-art image and identity data capture.
Documetrics Database incorporates both ID-Passport and
ID-License. ID-Passport is a comprehensive database of International
Civil Aviation, Organization (ICAO) Machine Readable, and Travel
Documents (MRTD) consisting of worldwide passports, e-passports, visas,
national IDs, and alien card information. UVeritech is a leader in multi-layer fraud
prevention and counterfeit money detection solutions such as UV
scanners, automated currency detection, image capture, verification and
authentication.

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