Tyabji to PubliCARD Board

PubliCARD, Inc. announced it has appointed Hatim A. Tyabji, 54, former Chairman, Chief Executive Officer and President of VeriFone, Inc., to its Board of Directors. His appointment increases PubliCARD’s Board to seven members.

Under Mr. Tyabji’s leadership at VeriFone, a global provider of transaction automation and Internet commerce solutions, revenues grew to $600 million in 1997 from $31.2 million in 1986. In early 1997, Mr. Tyabji negotiated the merger of VeriFone with Hewlett-Packard in a stock transaction valued at approximately $1.4 billion. Mr. Tyabji is currently Chairman and Chief Executive Officer of Saraide.com, which he founded in September 1998. Saraide.com offers innovative, customizable mobile data services that merge the strengths of the Internet and wireless communications.

Mr. Tyabji noted, “I am delighted to become a member of PubliCARD’s Board of Directors. This is a very exciting time for me to be involved with the Company as the market for smart card applications is exploding globally, presenting vast opportunities to enter a variety of sectors. PubliCARD is clearly dedicated to this pioneering technology and, by acquiring the best and the brightest in the smart card industry, is poised to offer a worldwide total smart card solution.”

Mr. Tyabji holds a BS in Electrical Engineering from the College of Engineering in Poona, India and an MS in Electrical Engineering from the State University of New York at Buffalo. In addition, Mr. Tyabji holds an MBA in International Business from Syracuse University and is a graduate of the Stanford Executive Program. He currently serves on the Board of Directors of Deluxe Corporation (NYSE: DLX), Best Buy (NYSE: BBY), Bank of America Merchant Services, Novatel Wireless and Ariba Technologies.

“We are thrilled to have Mr. Tyabji join our Board of Directors,” stated James J. Weis, President and Chief Executive Officer of PubliCARD. “His distinguished track record in the vast and ever-changing world of technology places him in an excellent position to help guide PubliCARD as we move to take advantage of strategic opportunities to expand our penetration of the smart card industry. We are pleased to benefit from Mr. Tyabji’s 12 years of experience at VeriFone and his global business focus, which have provided him with an intimate knowledge of the smart card industry.”

PubliCARD Inc., headquartered in Fairfield, Connecticut, owns businesses engaged in the development of smart card systems and technology, manufacturing and engineering services. More information on PubliCARD can be found at [www.publicard.com][1].

Special Note Regarding Forward-Looking Statements: Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. For more information on the potential factors, which could affect the company’s financial results, refer to the Company’s most recent SEC reports, including the Form 10-K for the year ended December 31, 1997.

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

Details

CyberCash to EarthLink

CyberCash, Inc. , the world leader in e-commerce payment technologies and services, announced Tuesday that EarthLink, a leading Internet service provider with over one million members, has selected CyberCash to provide payments services for its new electronic commerce offering, TotalCommerce.

TotalCommerce is a comprehensive web-based store providing everything a merchant needs to begin managing and profiting from e-commerce on the Internet. The solution is offered in six packages that are divided into entrepreneur and developer categories, scaled to meet the needs of any type or size of business.

“We are very pleased to be a part of EarthLink’s TotalCommerce package,” said Nancy Goldberg, senior vice president, CyberCash.

“The TotalCommerce solution is a pioneering approach that provides merchants with the convenience of one-stop-shopping for Internet services. Merchants not only obtain some of the hottest storefront software available today, they can also get their merchant account and CyberCash payment services all through a simple phone call to EarthLink. We, of course, are proud of the fact that more and more prominent and innovative merchants, ISPs and aggregators who want to take the Internet by storm are selecting CyberCash as their primary solution when it comes to payment services,” Goldberg said.

“Even though CyberCash’s service is entirely transparent to our members, they can rest assured knowing that we are making e-commerce easier for them, while protecting their most sensitive credit card data,” said Barry Friedman, director of product management at EarthLink.

CyberCash’s CashRegister service enables merchants to accept secure payments from the Internet with the widest range of consumer payment options available. The service is completely scaleable, supporting a broad range of merchants from start-up merchants to major Internet malls. All transactions are encrypted to ensure maximum security. Because it is automated, the CashRegister service allows for real-time and continuous credit card acceptance twenty-four hours a day, seven days a week.

“CyberCash and EarthLink are a winning combination when it comes to delivering outstanding service, safety and ease of use to merchants on the Internet,” Goldberg said.

CyberCash is the world’s leading provider of secure electronic commerce payment technologies and services spanning the retail point of sale through the Internet. CyberCash and the CyberCash logo are trademarks or registered trademarks of CyberCash, Inc.

Details

Greece I-Commerce

Hypercom Corp. signed an agreement yesterday to provide Delta Informatics with Hypercom’s ‘Ascendent Internet Commerce Transaction System’. Delta Informatics, based in Athens, is a major third-party processor, working on behalf of more than 15 Greek banks and currently managing transaction processing for 65,000 merchants nationwide. Hypercom’s ‘Ascendent Internet Commerce Transaction System’ incorporates the SET protocol. Delta says activity over the Internet is growing very quickly in Greece, even more so as the country approaches the 2004 Athens Olympic Games.

Details

Debit Volume Soars

While U.S. off-line debit card volume continues to grow 70% per annum, First Data reported yesterday it shattered records last year. First Data says it processed over 745 million debit card transactions in 1998, a 55% increase in the number of debit transactions it handled from the previous year. Last year, First Data signed new debit card processing agreements with SunTrust, BankBoston and The Bank of New York, bringing the total number of off-line debit card accounts served to a record 32 million. First Data says Cleveland-based KeyCorp experienced a 35% jump in branded debit purchase volume and a 27% increase in purchase transactions in 1998.

Details

PSN Update

Dallas-based Payment Solutions Network said yesterday it has resumed providing ‘Stop Payment Notifications’ as part of the SmartNOTEs process to its member financial institutions. The company says the ‘Stop Payment Notification’ function is being re-implemented at the request of PSN’s customers. As a direct result of the function being turned off, banks were noticing significant increases stop payment check losses. Having access to this function will enable members to send inquiries about items, and within 15 minutes, the bank will receive a stop pay notification. If a bank receives an ALERT, it can use the information to place a hold on the questionable account or transaction. PSN also says it will gather six months worth of stop pay request history from its member institutions and add it to the database.

Details

I-Pay Tool

MA-based Inforonics launched its ‘I-Pay’ solution to enable companies to offer secure, closed-loop online transactions through corporate purchasing cards and credit cards. The Inforonics I-Pay tool set is the first deployment of level-3 processing technology to be integrated with web catalog technology for assuring accurate line item detail. I-Pay provides maximum transaction monitoring and reporting capabilities by processing level-3 data, the maximum reporting level supported by VISA U.S.A. for corporate procurement. I-Pay integrates a web-based online catalog, maintained through an extranet by the supplier, with level-3 data and an order processing extranet for suppliers’ use.

Details

Going Falcon

Japan’s Credit Saison, with more than 10 million cardholders, said Monday it will install HNC Financial Solutions’ ‘Falcon’ credit card fraud detection system to protect its portfolio from credit card fraud. CS says it was impressed that ‘Falcon’ does not stand alone in HNC Financial Solutions’ predictive software. ‘Falcon’, a neural network-based predictive software system that examines transaction, cardholder, and merchant data to detect a wide range of credit card fraud, is well respected among credit card professionals as a major weapon in curtailing fraud losses.

Details

Fleet – BankBoston Merger

Fleet solidified its position as the nation’s eighth largest issuer of bank credit cards yesterday with a merger with BankBoston. As of year-end 1998, Fleet held $15.1 billion in receivables among 9.5 million accounts according to CardData (www.carddata.com). As of fourth quarter 1998, BankBoston had $385 million in receivables and 525,000 accounts according to CardData. BankBoston previously disposed of its out-of-area accounts through a portfolio spinoff to First Annapolis Consulting and its First Partners venture. Monday’s merger creates the nation’s 8th largest bank with assets of approximately $180 billion with 20 million customers. The new entity will also have a market capitalization of $40 billion, ranking it 7th in the industry by this measure. The combined company will be called Fleet Boston Corporation.

Details

Focus on Europe

American Express has launched a major Spring promotion for Europe. As part of AmEx’s ‘Focus on Europe’ promotion, nearly one million high volume U.S. cardholders will be receiving a special travel planner, “Europe”, in April, backed by a “Passport to Savings” book full of special offers and discounts from American Express merchants all over Europe. AmEx says the results from last year showed 28% of the 500,000 cardholders mailed planners actually traveled to Europe and used their AmEx cards. AmEx says this equates to 131,000 cardholders generating more than $336 million with its merchant partners that they might otherwise not have expected. This year AmEx will also be involved with 400,000 copies of Travel and Leisure and New Yorker magazines that will contain copies of the 40-page travel planner next month. In addition, American Express is targeting 250,000 US cardholders who are past European travellers with the travel planner. The planner will also be available in 135,000 travel agents and travel offices throughout the US and Europe.

Details

Marin Contract

Las Vegas-based First National Bank of Marin and First Data announced Friday that the bank has selected First Data for credit card processing services. Under the seven-year agreement, First Data’s card services division will provide full processing services, including statements, plastics and other core processing for the bank’s more than 500,000 MasterCard and Visa bankcard accounts. First National Bank of Marin will convert to the First Data system in June 1999.

Details

SINACARD

AXENT Technologies, Inc., one of the world’s leading information security solution providers, and Siemens, a leading provider of electrical engineering and electronics, Monday announced that AXENT’s market-leading Raptor Firewall and RaptorMobile have been integrated with Siemens’ Smartcard-based access control system–SINACARD. This new integrated solution offers optimum security for organizations, including secure remote access across open networks such as the Internet.

The SINACARD network access concept is ideal for remote users. AXENT(tm)’s Raptor Firewall ensures remote users have a secure link to their network, and used in connection with the RaptorMobile VPN solution, a “secure tunnel” is created for data transfers between the remote user and the corporate network. Using this technology, data is encrypted, sealed with a digital signature, and then sent packet by packet across the open network. Data security is ensured throughout the entire transmission. Staying within U.S. encryption export regulations, this solution allows non-U.S. companies to use advanced encryption technology and long keys all around the world.

SINACARD works by controlling access to computers, applications, services and data on the corporate network. The main functions include authentication and cryptographic authorization of users logging on to the network and accessing information. The system allows user-friendly single sign-on procedures without sacrificing security standards, meaning that the user only has to log on a single time per session regardless of his or her location.

In addition to the Smartcards themselves, and AXENT’s Raptor Firewall and RaptorMobile solutions, the SINACARD concept integrates a personalization and administration system as well as a security server. The Siemens Smartcard is not only used to control the network infrastructure; as an optional extra, it can also be configured to control physical entry to the company’s premises, record working times, as an e-purse for vending machines and canteens and–equipped with a photo–as a universal staff ID card. The great advantage is that only a single card and PIN number are required for all operations. “Our Smartcard is the key to optimum security–not only on the network. In spite of the necessary complexity, the system is easy to use, manage and maintain,” explains Helmut Jager, sales and marketing director at Siemens. “As a universal control system for internal networks, SINACARD also allows external users to log on. Thanks to AXENT’s intelligent security tools, the integrity of sensitive data remains fully protected.”

“Our strategy has been to provide customers worldwide, superior security solutions to protect their information from unauthorized users,” said Brett Jackson, president and chief operating officer of AXENT Technologies. “Partnering with Siemens allows us to secure more of the organization’s information by creating a security solution unmatched in the industry.”

Availability

The integrated solution is now available in Europe through Siemens.

About Siemens

With 16,700 employees in 37 countries and FY 98 sales exceeding DM 6.2 billion, Siemens Business Services is one of the leading worldwide full-service providers offering consulting, systems integration and outsourcing on an international scale. Siemens Business Services will respond to market demands with its newly founded SmartCard business unit, starting from April 1, 1999. The new business unit will focus on system level integration, products, and services. As such, the new unit will remain independent from the business of the Siemens Semiconductors Group.

Siemens’ Semiconductors Group, based in Munich, Germany, is the 10th largest semiconductor manufacturer worldwide and is a leading provider of integrated circuits, memory products, chip card ICs, discrete and power semiconductors, sensors, and fiber optic components. In fiscal 1997/1998, the Semiconductor Group achieved sales of US $3.8 billion and employed 25,000 people worldwide.

Siemens’ Smartcards are already being used successfully as security solutions in many places–including Germany’s leading publishing house, Axel-Springer-Verlag, and the Munich Airport Authority.

About AXENT(tm)

AXENT Technologies, Inc., is a trusted security partner and solution provider for more than 5,000 companies, government agencies and resellers worldwide, including 40 of the top Fortune 50. Only AXENT offers Lifecycle Security(tm) solutions–an all-encompassing approach that helps organizations identify unique security needs and implement realistic solutions to protect and enable business. With more security solutions that cover more of the enterprise than any other security provider, AXENT’s award-winning solutions provide security assessment, intrusion detection, remote access security, single sign-on, Virtual Private Networks, Web security and firewalls, for UNIX(R), Windows(R) 3.x, Windows NT(R), Windows 95 and 98, NetWare(R) and mid-range systems in heterogeneous computing environments.

Headquartered in Rockville, MD, AXENT’s customer-proven information security solutions are used by Fortune 1000 companies and governments worldwide. Contact AXENT via e-mail at info@axent.com, or visit AXENT’s World Wide Web site at .

AXENT, AXENT Technologies, the AXENT logo, RaptorMobile, Raptor and Lifecycle Security are trademarks or registered trademarks, in the United States and certain other countries, of AXENT Technologies, Inc. or its subsidiaries. Windows and Windows NT are registered trademarks of Microsoft Corporation; Novell and NetWare are registered trademarks of Novell, Inc.; UNIX is a registered trademark licensed exclusively by X/Open Company, Ltd.; and other product names and trademarks are the property of their respective owners.

Details

TYME Switch

Firstar Corp. announced Monday it will switch all of its ATMs in Minneapolis and St. Paul to TYME. Firstar now is part of Norwest’s Instant Cash network. But by mid-May, Firstar’s 30 ATMs in the Twin Cities will carry the TYME logo. Firstar will be placing 75 to 100 additional ATMs in the market over the next few months that also will carry the TYME name. Of the 30 ATMs in Minneapolis and St. Paul, 29 are located at Firstar branches and one is off-premise.

Details