GIFT PREFERENCES

A recent survey commissioned by the Acxsys Corporation demonstrates
revealing information on Canadians gift preferences. Reportedly, nearly 34%
of Canadians prefer money as a present over traditional, boxed gifts,
supportive of the potential success of its “INTERAC” Email Money Transfer
solution. The new solution allows users to send and receive money from
one bank account to another through online banking implementation. Acxsys
is promoting the money transfer program with a number of highlighted
features,
including the freedom of choice not provided with gift cards, no concern of
expiration dates or concern of misplacement. Supporting the latter,
statistics show that 19% of gift recipients have misplaced their gift
cards while
46% have forgotten to use a gift card, at one point or another, in its
entirety.
Additionally, 91% of Canadian Internet users have email and 58% use online
banking, providing market potential.

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SecureWorks to Offer PCI Audits as a QSA

SecureWorks has been designated as a “Qualified Security Assessor” by the PCI Security Standards Council. The QSA designation means that SecureWorks is now qualified to assess an organization’s compliance to 12 requirements known as the PCI Data Security Standards (DSS), which were updated in 2006. Banks, merchants, credit card processors, hosting providers and any other organizations that, store, process or transmit cardholder data are mandated to be compliant with the PCI DSS.

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Holiday Shoppers Avoid Breached Retailers

A new survey has found that holiday shoppers are less likely to patronize breached retailers. MA-based Utimaco says its research discovered that 62% are less likely to shop at a retailer that has had a publicized data breach. Nearly 90% indicated that a data breach similar to that of TJX is likely to happen again. Surprisingly, 49% do not think retailers are doing more to protect consumer data and 58% do not assume their personal data and credit card information is safe when they shop. Additionally, Utimaco says 47% feel less comfortable using credit card information when shopping online based on recent personal information security scandals. Nearly 70% of survey respondents say they are more closely monitoring incoming bills and credit card activity as a result.

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CPI Card Group Names a New President/CEO

CPI Card Group has hired Ted Fick, previously with Thermo King, as President and CEO. Previously, he was Vice President of Commercial Tire Systems at Goodyear and Senior Vice President at Hino Diesel Trucks, a subsidiary of Toyota. He spent 17 years at PACCAR, where he held increasingly responsible leadership positions in sales, marketing, plant management and general management. He has a master’s of science degree in management from Stanford University, where he was a Sloan Fellow, a master’s of business administration degree from the University of Puget Sound and a bachelor of arts degree in economics from the University of Washington.

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CardInk & MICA MULTOS

Cambridge-based Cryptomathic has extended the functionality of its “CardInk” solution to support the recently launched “MasterCard Integrated Card Application” on “MULTOS” cards. It is the first
commercially available data preparation solution capable of
performing secure data generation and key management for “MICA MULTOS”
cards during card issuance. “MICA” was launched by MasterCard in
November and is an integrated contact and contactless EMV chip card
payment application which supports both “M/Chip 4” and “MasterCard
PayPass” for issuing banks using the “MULTOS” smart card platform. It
is intended to simplify the issuance of combined “M/Chip” contact and
“PayPass M/Chip” contactless cards. Cryptomathic says it already has a
customer scheduled to take delivery of the new solution in Europe this
month.

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CardWorks Hits the 20-Year Milestone

CardWorks Servicing is celebrating the milestone of the twentieth anniversary of its founding and has redesigned its website. The revamped website allows for easy navigation while detailing CardWorks’ customized services and solutions that enable issuers and acquirers to successfully meet the challenges of today’s increasingly competitive bankcard environment. The services provided by CardWorks are transparent to cardholders and merchants, with specifications driven by each individual organization’s needs. Over the past two decades, CardWorks has experienced tremendous growth as a premier provider of solution- based products and services to meet the needs of prime and non-prime card issuers and acquirers in the United States and Canada. At present, CardWorks services over four million accounts.

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UATP GROWTH

Universal Air Travel Plan, Inc. (UATP) is reportedly maintaining its 4-
year growth trend throughout its network, which includes the Asia/Pacific,
European, Middle Eastern, African and the American markets. Since
the 3Q03 sales volume of USD 6.9 billion, UATP has seen continuous
increases to a projected USD 10 billion in volume for 2007. With the
company’s accounts accepted as payment by airlines and travel agencies,
experts credit these accomplishments to an ever-expanding global network
of acceptance and the strengthening of existing partnerships.

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nFinanSe Names a New Corp Sales Executive

FL-based stored value and prepaid card solutions provider nFinanSe has announced that Justin D. Norblade has been promoted to VP of Corporate Sales. He is responsible for the corporate channel, including sales initiatives, new client acquisition, sales personnel and client relationships for nFinanSe Pay Cards. Prior to joining nFinanSe, Norblade was the Senior Marketing and Business Development Manager for First National Bank of Omaha where he was responsible for developing and selling prepaid solutions to companies and corporations throughout the United States. Additionally, he has held sales and marketing positions with financial institutions, including National Bank of Commerce.

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E-SAFETRANSFER

Xiring has partnered with E-Safetransfer for the implementation of
15,000 “Teo” smartcard readers for the Brazilian Ministry of Finance.
“Teo” PC/SC smart card reader complies with market standards and is
certified in MS Windows environments. With these agreements,
E-Safetransfer will provide ministry employees with card readers that
meet Brazilian infrastructure requirements generating a price
reference model for other municipal offices. With the aforementioned
infrastructure requirements, “PKI”, the government is planning to issue
over 8 million smart card certificates (e-CPF) to authorities over the
coming months.

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SIGIS Offers IRS Compliance for FSA/HRA Cards

A new industry standard group, the Special Interest Group for IIAS Standards, or SIGIS, has been created. It was formed to help meet the January 1st IRS requirements for how FSA/HRA cards work at non-medical retailers. The standard incorporates real-time, auto-substantiation in the merchant’s “Inventory Information Approval System” for qualified healthcare products. More than 60 retail chains have announced their intention to implement the SIGIS standard by the first of the year. Cardholders can use their FSA/HRA cards at participating retailers, and continue to automatically access funds for qualified medical expenses and substantiate those claims at the point-of-sale which will help create efficient and convenient management of healthcare expenses with the elimination of additional paperwork. As of January 1, 2009, the IRS requires most pharmacy retailers to operate an “IIAS.” Some of these merchants also intend to implement the SIGIS standard in 2008.

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