SINO PAY GPP

Sino Payments is embarking on the ecommerce processing business across
Asia, offering online merchants its “Sino Pay GPP Point of Sale IP” card
processing service. In addition to providing the solution to physical
merchants for POS IP processing, Sino Payments is marketing toward
online gaming companies and merchants with the ecommerce processing.
NV-based Sino Payments has offices in Hong Kong and designed the
“SinoPay GPP” to convert transaction processing systems from antiquated
dial up POS systems to modern IP transaction processes, ultimately to
reduce credit and debit card transaction processing times by half at
checkout.

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TJX Settles with State AGs Over 2006 Breach

Donating $2.5 million to establish a new Data Security Fund to allow
states to advance effective data security and technology, TJX Companies
have settled with a multi-state group of 41 Attorneys General to resolve
investigations of the criminal intrusion into the Organization’s
computer system announced over two years ago. Maintaining no violation
of consumer protection or data security laws were committed, TJX
representatives disclosed the settlement was made to avoid distraction
and promote cyber security measures. Additional stipulations under the
settlement require TJX provide a settlement amount of $7.25 million to
cover expenses related to the States’ investigations; certify its
computer system meets detailed data security requirements specified by
the States; and to encourage the development of security technologies.
The TJX Companies operates 882 T.J. Maxx, 811 Marshalls, 322 HomeGoods,
and 141 A.J. Wright stores in the USA.

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MerchantWARE Mobile POS App is Released

Card processing solution provider Merchant Warehouse has released the “MerchantWARE” mobile POS application.
MerchantWARE Mobile runs on BlackBerry’s Pearl, Storm, Curve or Bold and
offers the enhanced capability to use a highly secure Bluetooth card
swipe device that brings ease of use, lower processing costs and
security to “on the go” businesses. This free application is now
available for download on Merchant Warehouse’s MerchantWARE Mobile
BlackBerry Page and soon will be available on BlackBerry App World.
Features of MerchantWARE Mobile for the BlackBerry include secure transactions in real time, including sales, refunds and voids;
lower Interchange costs by swiping with Bluetooth card reader; detailed transaction reporting; no additional gateway or cellular access fees;
email receipts for merchant and customer; encrypted and secure SSL connections for safely transmitting
customer information; complies with PCI DSS/PABP; automatic end of day batch processing and access to the MerchantWARE Virtual Terminal enabling users to
process transactions through the same merchant account from any web
connected computer.
Whether credit card information is swiped or keyed-in to the BlackBerry
device, all data is stored on Merchant Warehouse’s secure servers, not
the mobile device.

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Green Dot Selects the Aveksa Solution

Prepaid product provider Green Dot has selected PCI DSS compliance
provider Aveska and will implement the
“Aveksa Access Enterprise Governance Platform” to more
efficiently govern employee access to sensitive corporate information
and to achieve sustainable access risk management and compliance with
industry regulations. The “Aveksa Access Governance Platform” is the
industry’s first
comprehensive solution for access governance, risk and compliance
management. It is comprised of the Aveksa Compliance Manager, which
automates the monitoring, reporting, certification and remediation of
user entitlements; the “Aveksa Role Manager”, which enables role
discovery, modeling and maintenance; and the “Aveksa Access Request” and
“Change Manager”, which combines a business-centric interface and an
automated, streamlined request process with policy controls to ensure
that access is appropriate.

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Sipera Systems and TrustNet Partner

Unified communications security provider Sipera Systems has teamed with
risk and compliance manager TrustNet to strengthen security of card data
and will present a webinar on Tuesday, June 30, about the impact of
VoIP and UC on PCI DSS compliance The upcoming webinar will cover
how PCI DSS requirements relate to VoIP and UC technologies and
infrastructures; UC security planning best practices for adopting and
managing effective security architectures; and how to assess one’s
enterprise security and identify potential gaps and risks that might
compromise PCI DSS efforts. TrustNet is a PCI DSS Qualified Security
Assessor, providing guidance and assessment services to enterprises
seeking to achieve PCI DSS
compliance. Sipera’s security appliances provide comprehensive security
and control over VoIP
and UC, and its VIPER Lab provides VoIP and UC security assessment services.

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Financial Literacy Gap Among Students Found

Taking on new financial responsibilities means different things to
female high school seniors than it does to their male counterparts,
according to a recent Capital One Financial survey of 500 graduates
throughout the U.S. As a matter of fact, 65.4% of male students regard
themselves as “highly knowledgeable” in personal finance, compared to
only 49.2% of female survey participants. This confidence correlates
with findings demonstrating 45% of male survey participants have taken a
financial education class, whereas 61% of female students have not. Overall,
33.8% of both male and female are unsure or unprepared to manage their
own banking and personal finances, 80% have had a bank account for 1-2
years, 73% of which balance their checkbooks at least once each month.
Additional findings show 85% of those surveyed periodically set money
aside savings, 50.6% implement a budget, 70% reported their parents
provide advice on money management and 27% said that their parents are
primary financial resource.

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First Data and Compass Unveil Zipthru Rewards

First Data and NC-based foodservice management provider Compass have rolled out “Zipthru Rewards”, a new loyalty program.
“Zipthru Rewards” program, based on First Data?s loyalty
technology, is an automated, points-based loyalty program that
recognizes customers by their level of loyalty. The most loyal customers
receive additional rewards, including access to special discounts on
goods and services from both local and national merchants. The “Zipthru Rewards” program has been a highly successful concept for
Compass Group. Since implementing the loyalty program, Compass Group has
seen an increase in customer frequency, participation and satisfaction.
Compass Group North America is the leading foodservice and support services company with more than $9 billion in revenues in 2008.

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Card Issuers Begin Boosting Rates and Fees

In advance of the implementation of the “Credit CARD Act of 2009” next
year, issuers are beginning to boost fees and rates. Chase, Wells Fargo
Financial and BofA have recently made T&C changes. Chase announced it is
raising its “Balance Transfer Fee” and “Cash Advance Fee” from 3% to 5%
effective next month. Chase is also switching from fixed interest rates
to variable. Chase no longer caps either fee. However, Chase says it may
adjust the rates, fees and fee caps for special offers. According to
CardTrak, Wells Fargo Financial is adding a 3% balance transfer fee with
a $5 minimum and a $99 maximum to its “Cash on Demand” card next month.
WFF also added a $35 annual fee and added a floor interest rate of
20.65%. Earlier this year, Bank of America increased its balance
transfer fees. The BofA “Standard Balance Transfer Fee” is 4% with a
$10 minimum. BofA ATM cash advances, bank cash advances, and cash
equivalent transactions are now 5% with $15 minimum.

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ORCC/FDC Promote PINless Debit for Doctors

Under a new partnership, hospitals, doctors, laboratories and other related healthcare billers can offer a PINless bill payment method
via the “STAR Network.” Online Resources and First Data have teamed to offer lower cost Web and phone-based ATM/debit card payments from healthcare organizations. The U.S. healthcare payment system processes $1.9 trillion a year, according to McKinsey & Company. Payment processing costs consume about 15% or more of each dollar spent. The “STAR Network” has about two million ATM and retail locations across the country. Online Resources provides its financial institution and biller clients online bill payment and processing services through its network of over 6,000 electronic biller endpoints.

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AmEx President Joins the MetLife Board

MetLife has tapped American Express President Alfred Kelly to serve on
its Board of Directors. At American Express, Kelly has day-to-day
responsibility for the
company’s global consumer businesses, which include consumer and small
business cards, customer service, global banking, prepaid products,
consumer travel and risk and information management. Prior to his
current position, he was a group president responsible for several key
businesses, including U.S. consumer and small business cards, U.S.
customer service and risk management. From 1985 to 1987, Kelly served as
head of information systems at the
White House where he oversaw the information processing functions for
several government agencies that comprise the Executive Office of the
President. He holds bachelor of arts and masters degrees in business
administration from Iona College.

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ID ALARM

Providing the earliest possible warning of identity theft, the new ID
Alarm security solution has been introduced allowing companies to send
security alerts to customers when their personal ID is being used.
Alerts are available through real time text message or email, offering
details of the where, the when and the what concerning the compromising
of government ID, public or private health cards and credit cards issued
around the world. Government ID issuers, banks, lawyers, tax preparers,
hospitals, retailers, utilities, employers and airlines, among other
issuers, need enter an ID type and number into an online interface to
generate a security alert based on any ID they are presented. Flagging
capabilities in the event of a lost or stolen card are also available.
Ontario-based ID Alarm was founded in 2003.

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Metavante Renews SmartOne Prepaid Solutions

WI-based payment technology provider Metavante has renewed its prepaid
card processing agreement with smartOne Prepaid Solutions division of
First National Bank of Omaha. First National Bank of
Omaha will continue offering its smartOne Prepaid Solutions products and
services with account processing and real-time account validation
services from Metavante. First National Bank of Omaha’s smartOne Prepaid
Solutions portfolio includes payroll, reward/incentive and corporate
disbursement (travel expenses and relocation funds) prepaid cards.

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