RBS WorldPay to Market VeriShield Protect

RBS WorldPay has inked a deal to market VeriFone’s “VeriShield Protect” end-to-end solution for encrypting payment card data. The VeriFone solution uses AES-level encryption that preserves existing card track data formats so it works transparently with retailers’ existing payment infrastructure. Because “VeriShield Protect” preserves the format of the card data there is no need to redesign the POS applications to deal with a new data format. In addition to encrypting card data, “VeriShield Protect” monitors all systems in real time at the device level via “VeriShield Secure Device Management Service,” so if a breach occurred the retailer would be immediately alerted. In addition, data encryption keys can be managed remotely as part of the device management service.

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Maiberry to Utilize Mocapay M-Marketing

Mobile loyalty program provider Mocapay will launch a mobile marketing
program for CO-based frozen yogurt retailer Maiberry. The
partnership with Mocapay will enable Maiberry to spread the word about
their brand through the use of mobile marketing services.
Through various promotional events, collateral, and SMS text campaigns,
Maiberry will encourage consumers to visit their stores via special
offers. CO-based Mocapay provides the only mobile commerce platform
that supports
integrated mobile payments, marketing and distribution at point-of-sale.
Mocapay delivers unequaled direct marketing opportunities and customer
loyalty to merchants while providing consumers with the unprecedented
ability to transact simply and securely with their mobile device and
receive real-time promotions from their favorite retailers.

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PREPAID SUMMIT

VRL has announced its 2009 “Prepaid Cards Summit” agenda. In association
with Visa and Mastercard, the “VRL Prepaid Cards Summit” will be held in
Rome on November 12-13, 2009. The Summit hopes to address research on UK
and Italian consumers focusing on their attitudes and awareness of both
closed and open loop prepaid cards. In doing so, the VRL Conference will
focus on offering attendees unique insights and knowledge from keynote
speakers; insight on unique VRL research on consumer attitudes on
prepaid cards across the region; and an opportunity for networking with
350 key people in prepaid and 200 merchants across Europe.

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CO-OP Financial Completes a CU Fund Raiser

A credit union fund raiser combined with the Miracle Match program
from CA-based CO-OP Financial Services has raised nearly $1 million for Children’s Miracle Network.
Through June 30, credit unions have raised $517,000 and CO-OP Miracle Match
donations have added $445,000 for a total of $962,000 to CMN. CO-OP is
committed to donating up to $1 million of matching funds in 2009, and the company
expects this pool to be fully utilized based on fund raisers planned for the remainder
of the year. Among the key developments in this year’s effort, the Miracle Match
program has inspired credit unions to conduct 10 new fund raising events for CMN.
These events are significant because they are either the first CMN fund raiser the
credit union has ever conducted, or are in addition other annual events. Credit
unions raised $64,000 through these events, and Miracle Match donations from CO-OP totaled
$88,000.

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BluePay to Sponsor Great Plains User Summit

IL-based credit card processor BluePay will be a “Platinum Sponsor at the Great Plains User Group Summit 2009 in September.
BluePay will be highlighting their HQ product’s integration with
Microsoft Great Plains, which allows GP users to streamline their
accounting and payment processes into a single-source solution. Beyond
simply merchant accounts and processing credit cards, HQ provides
customizable payment solutions. The product allows enterprises to
consolidate vendors, become PCI compliant through enhanced data security
and reduce costs through electronic invoicing. The conference, to be held September 14-18 in Chicago, is a forum for Microsoft GP end-users to interact and
learn from Microsoft and other GPUG Partners about news, products and
services surrounding Microsoft GP.

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SCM Microsystems Intros Three New NFC Readers

SCM Microsystems security solutions has launched its “SCR3500 SmartFold”, the “SCT3511” and the “@MAXX lite” smart card reader models. The new compact handheld, USB or NFC connected readers are for use with contact or contactless smart cards regardless of technology or manufacturer. Offering a single small device for all smart card-related needs, the SCM readers solutions secure identities for bank payment cards, employee access badges, government identity cards and healthcare IDs. Available through both OEM and distribution channels, the “SCR3500 SmartFold” smart card reader fits easily on a key ring and provides online services access from anywhere through USB ports; the “SCT3511” USB token offers both ISO 14443 and “MIFARE” contactless capabilities for ID-000 (SIM card format) smart cards and can be used for secure physical access to the buildings; and the “@MAXX lite” token with both contact and contactless smart card-based functionalities adds on-board Flash memory for secure storage of sensitive data using encryption on a hard disk and the onboard Flash memory.

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Dodd Wants Proposed CFPA to Clean-Up Debit Cards

After news began to circulate that American Express and Discover were dropping over-limit fees rather than offer cardholders an opt-in, Senate Banking Committee Chairman Chris Dodd says he is proud the “Credit CARD Act” is working to clean up the credit card industry. However, he cited overdraft fees on checking accounts and debit cards as one reason for establishing a full-time Consumer Financial Protection Agency. Last month, Dodd asked bank regulators to draft new regulations requiring all interest rate increases that have taken place this year to be subject to a mandatory 6-month review. According to CardTrak, over-limit fees entered the credit card market in the late 1980s after the introduction of general purpose credit cards issued by non-banks. Providian largely developed the over-limit fee practice in the early 1990s. Before 1995 most issuers did not impose an over-limit fee unless the account exceeded the credit limit by 5% to 10% or more. The $1 over-limit policy came into the market in 1995-2000 period and then was further developed into an intra-cycle policy, wherein the fee is charged if the account goes over-limit at any time during the billing cycle as opposed to just the balance at the end of the billing cycle. (CF Library 7/10/09)

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Intersections’ Revenues Rise 3.5% Sequentially

Identity risk management specialist Intersections reported revenue for the second quarter of $90.3 million, compared to $87.3 million for the first quarter and $94.2 million for 2Q/08. The 3.5% sequential Q2 growth was driven by the Consumer Products and Service business. Net loss was $2.7 million for 2Q/09, compared to net income of $4.4 million for the quarter ended June 30, 2008. Subscription revenue, net of marketing and commissions associated with subscription revenue, was $42.6 million for the second quarter, compared to $40.6 million for the first quarter. Total subscribers decreased to approximately 4.5 million as of June 30th, compared to approximately 4.7 million subscribers at year-end 2008. Subscriber additions of approximately 813,000 in the second quarter were offset by subscriber cancels of 882,000. During the quarter Intersections announced that the “ID Vault” personal password and online identity protection technology will be updated to provide broader protection against newer, more sophisticated security threats including the ‘Moxie’ man-in-the-middle SSL attack. In July, the Company terminated its joint venture agreement with Control Risks Group and purchased the noncontrolling interest of Screening International. For complete details on Intersections’ latest performance visit CardData (www.carddata.com). (CF Library 4/24/09)

INTERSECTIONS REVENUES
2Q/08: $94.2 million
3Q/08: $93.4 million
4Q/08: $88.1 million
1Q/09: $87.3 million
2Q/09: $90.3 million
Source: CardData (www.carddata.com)

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Small Biz Bankruptcy Doubles in the Recession

Business bankruptcy filings are running 80% above one-year ago and have more than tripled compared to two years ago. During June more than 10,000 bankruptcy filings were made by small businesses, a new record. According to Equifax there were 10,339 business bankruptcy filings in June, up from 5,712 a year ago. According to the Administrative Office of the U.S. Courts total business bankruptcy filings in the first quarter were 14,319, compared to 12,901 in the fourth quarter and 8,712 in 1Q/08. Based on the 81% increase reported by Equifax for June, second quarter 2009 business bankruptcy filings will likely top 17,500 and the third quarter could approach 20,000. Equifax says the latest data show California is the most negatively affected state with 10 MSA’s among the 15 areas with the most commercial bankruptcy filings during June. The other MSA’s with the most bankruptcy filings during the month include: Charlotte-Gastonia-Concord, NC-SC; Atlanta-Sandy Springs-Marietta, GA; Portland-Vancouver-Beaverton, OR-WA; and Dallas-Plano-Irving, TX. The areas with the fewest small-business
bankruptcy filings include: Springfield, MA; Lafayette, LA; Cedar Rapids, IA; Charleston, WV; and Hagerstown-Martinsburg, MD-WV.

BUSINESS BANKRUPTCY FILINGS
2Q/07: 4,858
3Q/07: 7,167
4Q/07: 7,985
1Q/08: 8,712
2Q/08: 9,743
3Q/08: 11,504
4Q/08: 12,901
1Q/09: 14,319
2Q/09: 17,635
Source: CardData (www.carddata.com)

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MINICLIP.COM & GLOBALCOLLECT

Miniclip.com has selected GlobalCollect “WebCollect” as its payment
service provider to process online transactions for online games.
Offering more than 450 titles, ranging from single player to hard-core
massive multiplayer games, to its community of over 50 million online
players, www.miniclip.com is focused on increasing conversion rates and
customer convenience through its GlobalCollect partnership. Connecting
to GlobalCollect’s single-interface payment platform, “WebCollect”
enables Miniclip to process payment transactions in multiple languages
and currencies across the world for payment on national and
international credit and debit cards, eWallets, prepaid cards, real-time
bank transfers, and direct debits. Additionally, “WebCollect” allows
Miniclip to offer popular alternative payment methods to gamers buying
downloadable and subscription based games.

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AMUSE BREACH

Amuse Inc. reports a hacker from China may have hit its servers. Nearly 150,000 accounts containing credit card data and personal information may have been compromised. The Tokyo-based company promotes and manages celebrities, musicians, film directors, scriptwriters, athletes and intellectuals. It is also involved in the production, contracting and performance of music, film, theater and theatrical entertainment and lecture, and management and contracting of these facilities.

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