HyperSafe Remote Key System is Piloted

A pilot is underway for the industry’s first standards-based remote key
injection product that allows retailers to quickly and securely initiate
on-site, in-store payment terminal key injection at the point-of-sale.
The new system offers a fast and highly secure alternative to the
industry’s traditional secure room key injection process. Hypercom,
Electronic Payment Systems and Mercury Payment Systems are piloting the
“HyperSafe Remote Key System.”. The two companies are piloting the
innovative solution on their terminals of choice, the “Optimum T4210”
and “T4220.” “HRKS” eliminates the need for off-site secure room key
injections by incorporating “PKI” to securely distribute symmetric
“3DES” keys.

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Biometric Match-on-Card Paper is Released

Card specification body GlobalPlatform has published “The GlobalPlatform Value Proposition for Biometric Match-on-Card Verification” to explain how its existing technology can add value to biometric match-on-card solutions from research and development cost-savings and improved time to market, to compliance with industry security requirements. It discusses in detail how current GlobalPlatform Specifications deliver the required security and privacy to enable the deployment of a secure, interoperable and flexible biometric match-on-card solution. The white paper was developed jointly by the following GlobalPlatform members: ActivIdentity, Collis, Gemalto, NXP, Oberthur, Precise Biometrics, Sagem Orga and the US Department of Defense.

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Austin Logistics Changes its Name

Event based analytic solution provider Austin Logistics has changed its name to ALI
Solutions. Since its founding in 1992, the firm has provided large consumer financial services companies in North America, the
United Kingdom, and Asia-Pacific, with event-based analytic decisioning
applications and innovative solutions for solving immediate business
problems. The solutions enable the
issuer to detect potential delinquencies in new accounts as early as day
one of the account lifecycle and to indicate appropriate
individual-level treatments.

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ECI and ControlScan Partner for PCI

Card processor Electronic Commerce International has partnered with GA-based PCI solution provider ControlScan
to assist small and medium-size businesses in meeting PCI-DSS.
ControlScan provides easy-to-use Web-based security solutions for small
businesses to analyze, remediate and validate compliance. ControlScan exclusively supports small- to medium-sized merchants,
which are required to be PCI compliant. ECI will now offer ControlScan’s PCI compliance solution, “PCI 123”, which
helps merchants understand, choose and complete the correct
Self-Assessment Questionnaire and on-demand security scanning (as
applicable), backed by expert technical support with a personal touch.
Those who have not implemented the necessary security policies will also
benefit from the included “PCI 1-2-3 Policy Builder”. ECI also offers Electronic Check
Acceptance, Electronic Gift and Loyalty Programs, ACH Processing and
Merchant Cash Advance.

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Billing Revolution Lands a New Exec

Mobile payment solution provider Billing Revolution has appointed Marc Saulino as VP of Business
Development. Prior to joining Billing Revolution, Saulino spent over three years
as New Business Development Director at Bango, a mobile Internet
company. While at Bango, he played an integral role in growing
the company’s North American business, forging strategic alliances with
Dada Entertainment, Discovery, Gameloft, Oberon Media, Quickplay and
many more. Merchants use Billing Revolution’s
proprietary “single-click” technology to provide a mobile optimized
purchase experience, allowing users to make credit card purchases
without a user name or pin code requirement. Using the platform,
individuals or large merchants have the ability to conduct
“single-click” credit card transactions from any web-enabled mobile
phone.

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Solidcore for APTRA Stops ATM Skimming

NCR says it has sold more than 50,000 licenses of “Solidcore for APTRA,” an ATM software security solution that prohibits the introduction of unauthorized code to an ATM. The software protects the system from “inside out” skimming attacks. These attacks, similar to those recently perpetrated in Russia, involve the insertion of malicious code onto the ATM – usually by someone with insider access to the ATM.
Integrated within the NCR APTRA Software Security solution, Solidcore for APTRA preserves system integrity and prevents malware on ATMs. More than 100 NCR customers around the world have turned to NCR to provide “Solidcore for APTRA” on their single and multi-vendor ATM networks.
“Solidcore for APTRA” proactively allows only authorised code to run.

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Credit Card ABS Metrics Erode Further

Credit card delinquencies and chargeoffs breached record levels last
month. The latest Fitch “Credit Card Index” reports that charge-offs
rose 101 basis points to a record 8.41% eclipsing the prior mark of
7.52% reached in November 2005. Delinquency rose 29 bps to 4.33%, the
third consecutive record result. The delinquency index, which measures
the percentage of credit card receivables that were reported more than
60 days past due, has increased 36% in the last six months.
However, Fitch says that despite the results, portfolio yields increased
and excess spread levels remained robust, as remedial actions by credit
card issuers are providing investors with a cushion against future
losses and early amortization. But, the outlook for subordinate
tranches, however, is becoming increasingly negative particularly if
recent delinquency trends hold.

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VERISMART VISA

VerifySmart has signed an agreement with China Trust to launch
VSC’s first credit card “VeriSmart Platinum Visa”. China Trust will distribute, for a pilot, 2,500 co-branded “VeriSmart Platinum Visa” cards linked to the authentication system, “VerifyNGo,” to serve as enterprise payroll, payout and remittance solutions affording centralized control and management of fund disbursement globally, anytime, anywhere. The new card will yield revenue in multiple ways: volume-based fees for processing; transactional fees for transfers, ATM withdrawals, and POS purchases; and transactional fees for use for VSC’s authentication protocols.

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BMW CCA Rewards Visa is Launched

The BMW Car Club of America has selected PartnersFirst Affinity Services
to issue the BMW CCA Rewards Visa Credit Card. The BMW CCA Visa card
offers industry-leading cash, travel and merchandise rewards in addition
to providing special discounts at the BMW Performance Center through its
rewards program.BMW CCA is the official BMW car club devoted to
supporting BMW
automobile fans and enthusiasts with a wide range of social, technical,
and driving events, discounts, gear and a monthly publication, called
Roundel.

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BIOMETRIC MATCH-ON-CARD

Card specification body GlobalPlatform has published “The GlobalPlatform Value Proposition for
Biometric Match-on-Card Verification” to explain
how its existing technology can add value to biometric match-on-card
solutions from research and development cost-savings and improved time
to market, to compliance with industry security requirements.
It discusses in detail how current GlobalPlatform
Specifications deliver the required security and privacy to enable the
deployment of a secure, interoperable and flexible biometric
match-on-card solution.
The white paper was developed jointly by the following GlobalPlatform
members: ActivIdentity, Collis, Gemalto, NXP, Oberthur, Precise
Biometrics, Sagem Orga and the US Department of Defense.

Details