NY-based E4X and the Association of Executive Search Consultants have launched multi-currency acceptance on the AESC’s Executive Career Management Service, “BlueSteps UK”. The new site enables members in the UK to use British pounds to pay for memberships and services. BlueSteps used E4X’s solution to streamline the management of foreign exchange and multi currency issues faced by the company while conducting business in the UK. The E4X solution omits currency conversion risks and minimizes complexities associated with accounting, forecasting, and reporting in more than one currency. BlueSteps will be able to manage business in their operating currency as they offer this new service to their members. BlueSteps is the only career management service that provides executives with continuous exposure to the best search firms in the world. It is the largest online global community of senior executives. E4X, Inc. is a provider of multi currency services that are designed to reduce the complexities of currency conversion related to cross border sales and payments in order to facilitate global business.Details
The Pennsylvania Liquor Control Board has launched the sale of gift cards in the state’s 637 Wine and Spirits Stores. The gift cards are available in any dollar amount and have no expiration date. The cards represent a series of PLCB initiatives to improve customer service and convenience. Such initiatives include the launch of a monthly wine club, the expansion of the selection of wines and spirits available at PLCB stores, and the opening of six outlet stores.Details
SCM Microsystems, OMNIKEY, and Kobil Systems have agreed on a joint standard for developing smart card readers with integrated PINpads. Using smart cards with PINs (Class 2 readers) increases the security of transactions. The companies are working under TeleTrusT, a company who aims to promote trustworthy information and communication technology. Class 2 PINpad readers protect smart cards, preventing unauthorized copying or use of information that is stored on the card. SCM Microsystems develops, markets, and sells smart card reader technology, OMINKEY is a world leading manufacturer of smart card readers, and Kobil Systems specializes in developing and marketing smart card based IT and multifunctional smart card terminals.Details
Capital One has signed a definitive agreement to privately held HFS Group, a major home equity loan broker in the UK. Cap One will pay $117 million in cash. HFS originated a volume of approximately 15,000 loans, with a value of approximately $630 million in the twelve months ending March 31st. Cap One has about four million credit cardholders in the UK. The acquisition is part of Cap One’s plans to diversify its business beyond the mature credit card market. In September, Capital One acquired Onyx Acceptance Corporation, a major auto loan originator, for $191 million in cash.Details
PBS won an award for the development of the PSAM application, that ensures uniform and secure chip-based transactions via chip terminals on the market. “Payment Secure Application Module” is a small application module, which performs secure checking and approval
of chip-based cards in terminal solutions. “PSAM” is responsible for validating individual cards used in chip-based terminals and can function as a common standard in international terminal solutions, in the same way as SIM cards in mobile phones, which define the service provider in use. This makes the terminal much more flexible at a time of growing international competition if a business wishes to change its clearing bank.
VeriFone, Mosaic Software and ID Data announced the launch of a major new program aimed at helping card-issuing and acquiring banks maximize their investment in EMV. “LaunchPAD” is an joint agreement to deliver an end-to-end solution for the implementation of “Pre-Authorized Debit,” a new offline payment method that slots into existing EMV infrastructure as an extension to credit and debit. The pre-authorized debit payment method leverages the infrastructure that is already being put in place for EMV, i.e. smart card readers and PIN pads, thereby minimizing further investment for the introduction of a wholly new
On Track Innovations’s “Saturn 5000” contactless reader has received certification from MasterCard, certifying the reader’s application and electronics for use in the MasterCard “PayPass” contactless payment program. This makes OTI the first and only company to date to obtain certification on both its MasterCard “PayPass” compatible card and reader solutions. The “Saturn 5000” can support multiple applications and is currently compatible with all major POS terminal providers.Details
HealthEquity has selected Elan Financial Services for its “Health Savings Accounts” card processing. Card authorization processing and routing for point-of-service transactions along with required system monitoring and support services will be provided by Elan. The HeatlhEquity HSA card can be used at healthcare locations where VisaÂ® cards are accepted. HeatlhEquity members can pay doctors, dentists, and pharmacies directly from their HSA, using their card. HealthEquity forms partnerships with health plans, third party administrators, and banks to provide an HSA service. Elan Financial Services offers a variety of ATM services to financial institutions and ISOs. The company supports over 7,800 ATMs, 15 million ATM/POS cards, and 2 million credit cardholders, providing credit card issuing, ATM, debit cards, and merchant processing.Details
Oberthur Card Systems reported that third quarter revenues for its banking smart card segment grew by 32% in value and 37% in volume, compared to the year ago quarter. On a sequential basis, the volume of cards delivered in 3Q/04 reached 18.3 million, a 22% increase. The sharp increase was driven by the EMV migration in the UK. Overall, Oberthur posted third quarter total revenues of $139 million, a slight increase over the same quarter of last year. Compared to the previous quarter, revenues were flat. The strongest performing unit was the Identity and Security segment which produced a 60% increase in sales. Revenues for SIM cards and banking personalization services declined. Third quarter revenues for magnetic stripe cards, scratch cards, and memory cards were flat. Oberthur projects that fourth quarter sales will grow between 10% and 15% over the third quarter. For complete details on Oberthur’s third quarter performance visit CardData (www.carddata.com).Details
Euronet Worldwide has closed an asset acquisition of the Movilcarga Division of Grupo Meflur Corporacion. Euronet will own 80% of Movilcarga and Meflur will own the remaining 20%. Movilcarga is a provider of electronic prepaid voucher solutions in Spain. Movilcarga has a distribution agreement with Telefonica, the largest mobile operator in Spain, which services 52% of that country’s mobile telecommunications market. The company plans to expand its top-up
services with additional mobile operators in Spain. Based on its most recent three-months’ unaudited financial information, Movilcarga generated net revenue, on a recognition basis consistent with Euronet’s other prepaid processing revenues, of approximately $3.5 million.
ActivCard has unveiled “ActivCard Authentication Server” delivering scalable and versatile authentication for secure online banking. The service is a result of collaboration between London-based ASPACE Solutions and ActivCard. ASPACE Solution’s flagship solution, “4TRESS,” is a key component for the “ActivCard Authentication Server.”
“ActivCard Authentication Server” allows banks to support multiple forms of authentication including as static passwords, one-time password generating tokens, and EMV authentication with card readers, all through one integrated server.
Toronto-based NBS Technologies has achieved compliance with the VISA and MasterCard CISP, AIS and SDP initiatives. NBS selected Ubizen, Inc. as its security consultant and auditor for the program compliance projects because of Ubizen’s depth of experience in payment network forensics. The NBS “Commerce Gateway” processed over 30 million transactions in North America last year as a high- speed payment engine designed to serve the needs of merchants everywhere. In addition to credit and debit payments, the Gateway provides integration of gift cards and loyalty rewards directly at the point of sale.Details