OnGuard

Paymentech has launched a new suite of fraud protection products and solutions. The new “OnGuard” suite offers a full range of endorsed proprietary and third-party products from relatively simple address verification services to sophisticated fraud scoring solutions to specialty services. “OnGuard” partners include: Experian, iShopSecure, Fair Isaac, Arcot Systems, ClearCommerce, Retail Decisions, and, VerifyMe which provides a patent-pending fraud prevention service using government-issued ID database checks, algorithms and an optional web-based signature capture to instantaneously verify identity and age for citizens in 112 nations. Paymentech says Internet transaction fraud is 12 times higher than in-store fraud and that merchants lost $700 million in revenue last year due to fraudulent transactions.

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Discover Titanium

Discover has joined the “titanium” bandwagon with the release of the new “Discover Titanium” card. Discover has been hitting mailboxes over the past several weeks for the new card which features a 0% intro rate on purchases and cash advances. The current promo rate ends with the May 2003 billing cycle and then increases to a fixed 9.9% rate, according to CardWatch ([www.cardwatch.com][1]). Discover is offering credit limits up to $50,000 with the new program. However, the “Discover Titanium” does not include Discover’s cash-back rewards program. First USA first launched a “Titanium VISA” in early 1998. Since then MBNA, Fleet, First National Bank of Omaha, and Direct Merchants Bank have launched “Titanium” cards. Direct Merchants and MBNA offers “Titanium” cards under the MasterCard brand while Fleet and First National Bank of Omaha offer “Titanium” VISA cards.

[1]: http://www.cardwatch.com

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Select Payment & Link2Gov

Select Payment has been chosen by Link2Gov to facilitate electronic check payments to government entities through the Internet, over the telephone through an Interactive Voice System, or in person. The partnership enables Link2Gov to facilitate electronic check payments to government entities through the Internet, over the telephone through an Interactive Voice System, or in person.

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Stratus Backing

Atlanta-based Skylight Financial has received $12.8 million in funding from a group led by GTCR Golder Rauner. Walnut Investment Partners, an existing investor in Skylight, also participated in the financing. Skylight issues the “Stratus PayCard,” a payroll funded FDIC-insured debit card targeted to unbanked employees. The card is issued through U.S. Bank. Skylight has customers in 46 states and over 60% of Fortune 100 companies currently have employees with a Skylight account. The Stratus PayCard provides access to more than 200,000 ATMs (over 9,000 of those are surcharge free), and over 800,000 POS locations. Skylight Corporation initially formed an alliance with Firstar Bank in August 2000 to offer the “Stratus Card.” Firstar has since merged with U.S. Bank. (CF Library 1/25/02; 5/31/02; 7/11/02).

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payShield

UK-based nCipher has launched “payShield”, an advanced hardware security module designed for the payment processing market. The company says “payShield” is the first HSM to satisfy both the cryptographic security and performance requirements of MasterCard’s “UCAF” and VISA’s “3-D Secure” initiatives to combat fraudulent online purchases. nCipher has partnered with leading e-payment solution providers Arcot Systems and Cyota to ensure full interoperability, optimal performance and ease of deployment for card issuers. Arcot “TransFort” and Cyota “SecureSuite” software products employ nCipher’s “payShield” to perform specific cryptographic functions including; protecting the database of cardholder information through encryption, performing cardholder verification processes and creating digitally signatures to confirm cardholder authentication to merchants creating a legally binding record of the process. “payShield,” which is currently undergoing validation to meet the exacting FIPS 140-2 Level 3 security standard, also provides high-speed cryptographic acceleration to overcome the heavy processing burden associated with these functions. “payShield” pricing starts at $25,000.

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ParishPay

The Catholic Diocese of San Jose this weekend announced it is making available to all parishioners the ability to have donations made automatically from their checking, savings or credit card accounts each month. This new service is being provided by ParishPay, LLC, a company that specializes in direct payments for churches and parochial schools in the USA. The electronic payment is debited from the donor’s bank account on the 5th of each month. Parish members can set up their account online. All parishioners receive an annual statement each January. ParishPay was launched last October. The firm became an Affiliate Member of NACHA in January. ParishPay is targeting all 55,000 Catholic Churches in the USA United States, and plans to make the service available to other denominations.

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GE & BIOSCRYPT

Toronto-based Bioscrypt announced that GE Interlogix, CASI division has become an official Bioscrypt Distributor, thereby enabling the company to offer, market and support Bioscrypt’s “Veri-Series” line of fingerprint-based biometrics products through its dealer network. The “Veri-Series” line of fingerprint biometric products were designed to provide companies with a variety of fingerprint-based physical access control biometric products to fit their specific needs. The “V-Smart” reader combines biometrics with smart cards, utilizing standard Mifare contactless smart card technology; the “V-Pass” reader eliminates the need for PINs, keys or cards and performs functions such as enrollment, identification and template storage for 200 fingerprints; the “V-Prox” reader combines biometrics with proximity technology, requiring that the user provide a fingerprint and matching card for authorized entry; the “V-Flex” enables users to add fingerprint biometrics to any reader capable of industry standard Weigand communication without replacing their existing reader infrastructure; and the “V-Station,” available in October, is a self-contained terminal with integrated fingerprint biometrics, keypad and LCD display.

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ERG VEGAS

ERG Group has been awarded the contract to install a smart card based fare collection system for the Las Vegas Monorail Project. The Las Vegas monorail system is scheduled to be opened to the public in early 2004 and is expected to carry 19 million passengers in its first year of operation. The monorail will service 60,000 hotel rooms and the world’s largest convention centre. There will be seven new stations built in the first phase of the project and a further five stations will be included in an extension to be built in the near future. The system will cater for contactless smart cards as well as magnetic tickets for single journeys. In conjunction with the ticketing system, ERG has been contracted to install its central computer processing system. The total system will be capable of expansion into multiple applications for smart cards including electronic purse for casinos, security access and loyalty schemes. The monorail smart card scheme will also be able to be integrated with other transport modes such as the city’s bus network at a future date. The contract was awarded by Bombardier Transportation.

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KTB & TNIS

Bangkok-based Krung Thai Bank Pcl. has selected the Sanchez “Profile” real-time banking solution to replace the bank’s legacy operational systems. KTB, with more than 11 million accounts and 645
branches, has also selected TN Information Systems Ltd. of Thailand, a Sanchez solution partner, as the prime contractor and systems integrator for the project. TNIS will provide program management, system infrastructure design, and change management and business process reengineering consulting. Sanchez will provide the core banking, branch automation and accounting software and augment TNIS consulting with implementation and customization services, and training. Currently installed in over 350 financial institutions throughout the world, Sanchez “Profile” is an online, multi-currency, multi-lingual core bank
processing system that couples high operational efficiencies with the ability to significantly enhance the competitiveness of the institution.

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