Electronic Clearing House has added Tacoma-based Columbia Banking System to its list of financial institutions participating in VISA U.S.A.’s Pilot POS check service. Checks from Columbia Bank will be routed through ECHO’s ACH processing system and checks written against non-member banks will be verified using its NCN check writer database.Details
SchlumbergerSema’s “Cyberflex JavaCard” has been awarded the “Common Criteria EAL4+ Certificate” by the French Direction Centrale de la SÃ©curitÃ© de SystÃ¨mes d’Informations. The unique security features offered by the “Cyberflex 32K” card make it the first “JavaCard” product to receive accreditation for its operating system and applet, as well as its chip. SchlumbergerSema is the only “JavaCard” manufacturer to claim the integrated “Digital Signature Applet” as part of the entire certified product in compliance with the mandatory European CEN Protection Profile. The “Common Criteria EAL4+ Certificate” is a recognized security assessment standard that is complementary to the US FIPS certificate. SchlumbergerSema has already delivered one million of its “Cyberflex Access FIPS 140-1 Level 2” cards for worldwide deployment by the U.S. Department of Defense.Details
VeriFone yesterday introduced a new terminal featuring a programmable PIN pad aimed at reducing card skimming at the point of sale. The new “SC 5000” supports both smart card and PIN-based transactions and adheres to “3DES” encryption standards transactions. The “SC 5000” features an integrated smart card reader with support for 0, 2 or 4 SAM slots to enable support for a broad range of smart card-based loyalty and electronic purse schemes. It also offers an optional built-in magnetic-stripe card reader. The device is ergonomically designed to fit in the palm of the hand. The SC 5000 is also PED-compliant and offers a range of security protections including tamper-detection circuitry.Details
Debit card activity continues to drive VISA USA’s growth as debit card volume soared by nearly 29% in the first six months of this year. During the second quarter, the number of VISA debit cards issued rose about 14%, from 108.7 million at the end of 2Q/01 to 122.6 million this year. Overall, VISA’s U.S. gross dollar volume for the second quarter grew 11.2% to $248.4 billion. For 2Q/02, purchase volume was up 7.6% while cash volume was up 24.5%. For the first six months of this year, VISA’s gross dollar volume was up 10.4%, from $427.9 billion for 2Q/01, to $472.2 billion for 2Q/02. VISA’s U.S. credit card portfolio grew 4.8% during the second quarter from 249.1 million cards to 261.0 million cards. However credit card volume for the first half of this year inched up by 1.1%, from $287.9 billion for the first six months of 2001, to $291.3 billion for the first half of this year. For complete details on VISA’s 2Q/02 statistics as well as prior quarterly performance visit CardData ([www.carddata.com]).
Ceridian announced this morning that Tony Holcombe, president of Ceridian’s U.S. human resources solutions business, has resigned to lead a privately-held company in Tennessee engaged in the gift card business for small merchants. Holcombe was employed by Ceridian for 5 years spending the first two years leading its Comdata subsidiary. Through its Comdata subsidiary, Ceridian is a major payment processor and issuer of credit cards, debit cards and stored value cards, primarily for the trucking and retail industries in North America. The company is also one of the top human resources outsourcing companies in each of its markets.Details
St. Louis-based Allegiant Bank has selected Mosaic Software’s “Postilion” software product for ATM driving, transaction switching, and routing for its network of ATMs. The installation of Postilion to handle all aspects of ATM transaction processing and management forat Allegiant Bank’s network of ATMs will assure the maximum availability of services for their customers.Details
TrustMarque International and Canada-based Protexis have signed a partnership agreement to provide advanced fraud protection services. The partnership will enable an effective payment processing option for Protexis software licensing customers and their end users. TrustMarque offers a portfolio of secure Internet transaction applications and services including multi currency payment processing and credit/debit card risk assessment. Protexis is a provider of digital software licensing solutions including the Protexis “nTitles” software license transaction system which offers state-of-the-art tools to manage license compliance.Details
Catuity has been issued an Australian patent for applications and programs operating between in-store POS devices, mobile devices, personal computers, kiosks, host systems and/or the Internet using a single card or other consumer device. Earlier this year Catuity received notice of acceptance for its first patent in the US, and that patent is expected to also be granted in Australia and other markets.Details
MalmÃ¶-based Sigma Kommun & Landsting and HSB Card & Card Systems of The Netherlands have inked a co-operation and distribution agreement for smart-card solutions in the health care and public sector.
The first project of the partnership is a smart medical card system for the Swedish market. HSB specializes in card management and biometric application software for trusted identification solutions. Sigma develops and markets information systems for the healthcare sector in municipalities, county councils and for private healthcare providers. The main Sigma products are “Patient 2000,” “Omsorg 2000,” and “E-recept” IT systems as well as intranet and Internet Systems.
China Construction Bank has signed a US$12 million ATM deal with Diebold. Under terms of the agreement, Diebold will provide both cash dispensers and ATMs to CCB branches in more than
20 provinces. This order is the second this year to be granted by CCB to Diebold. The first was valued at approximately US$15 million and was announced in July. CCB operates more than 13,000 branches throughout Greater China.
Sub-prime specialists Applied Card Systems and its affiliate, Cross Country Bank, announced they will close on September 11th. Applied Card Systems and Cross Country Bank, which donated $1 million to the September 11th Fund last year, employ approximately 4,500 Associates.Details
The percentage of credit card charge-offs involved in personal bankruptcy filings has begun to float downward after filings hit a peak in the second quarter. In July, the percentage of charge-off dollars connected to bankruptcies dipped to 48.9% compared to a peak of 49.7% in May. One year ago the percentage stood at 46.20% and in July, 1995 the average was 31.3%, according to CardData ([www.carddata.com]). MasterCard reported $1.1 billion of the $4.6 billion in second quarter U.S. charge-offs were bankruptcy related. The dramatic rise in filings over the past year has been linked to recession and impending federal legislation to overhaul the bankruptcy code. Bankruptcy filings for the twelve months ending June 30th hit an all-time record of 1.5 million. One year ago, annual filings totaled 1,386,606. Bankruptcy filings first broke one million during the 12-month period ending June 30, 1996. According to Administrative Office of the U.S. Courts there were 1,466,105 personal bankruptcy filings over the past twelve months, an 8.5% increase over the previous year. On a quarterly basis, total bankruptcy filings were only up slightly, from 400,394 for 2Q/01 to 400,686 for the second quarter of 2002. (CF Library 8/15/02)