Tuesday, November 3, 2009

Monnet & PayFair May Unite/Form Debit Network

Pan-European debit schemes may combine

A leading advocate for Monnet – the planned pan-European debit network – has opened the door for a possible collaboration with the European card scheme PayFair and the Euro Alliance of Payment Schemes (EAPS).

Monnet, EAPS and the merchant-focused PayFair network all have separate plans to offer pan-European debit card acceptance and establish a credible third scheme to challenge the dominance of Visa and MasterCard in Europe.

However, speaking at the Lafferty Group ‘Is Debit the New Credit?’ conference on 3 November, Petra Stange, head of commercial cards at Deutsche Bank, said: “We can only have one new scheme, not three of four. Maybe we [Monnet, EAPS and PayFair] can work together jointly. At the end of day, we are looking for competition. We need to talk.”

PayFair CEO Dominique Buysschaert responded to Stange’s comments by saying: “We are open to dialogue.” However, he stressed the need for a third card scheme to have transparency and neutrality, adding: “It is the retailer who decides what payment will be used.”

Continue Reading at Lafferty

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S1 Teams With PayPal to Deliver Fast, Convenient Mobile Personal Payments Solution for Banks

Mercantile Bank of Michigan to Let Customers Use Mobile Devices to Send Real-Time Payments From Their Bank Accounts to an Email or Mobile Number

NORCROSS, Ga., Nov. 3, 2009 (GLOBE NEWSWIRE) -- S1 Corporation (Nasdaq:SONE), a leading global provider of financial services and payments software solutions, today announced an agreement with PayPal to deliver a new personal payments service that allows consumers and businesses to make easy, fast and secure payments from their bank accounts to PayPal users around the world using their mobile phones. Mercantile Bank of Michigan, a customer of S1, is the first financial institution to sign up for the new offering and expects to go live with the mobile personal payments service early next year.

"S1's continued innovation in mobile banking and integration with the PayPal network will give us a competitive edge to support a channel that is essential to our customers and strategic to our bank's future," said John Schulte, senior vice president and CIO for Mercantile Bank of Michigan. "We see tremendous value for our customers in expanding our mobile banking functionality to include person to person payments with PayPal."

The S1 and PayPal alliance enables banking customers to quickly send money to PayPal customers from their mobile device by entering the recipient's email address or mobile phone number. In order to complete the transaction, the sender just needs to have a bank account with a participating financial institution and the receiver needs to have a PayPal account.

If the receiver does not have a PayPal account, he or she will be prompted to create one before funds can be transferred into his or her account. There are no other enrollment requirements. The sender will receive a real-time status alert of whether the funds sent have been claimed, effectively providing full insight into the transaction. Financial institutions working with S1 can tailor pricing for this new offering to maximize fee-based opportunities.

"S1 is the first company to announce their intention to utilize the PayPal platform to deliver personal payments for banks across the mobile channel," said Dan Schatt, senior director and head of financial innovations, PayPal. "This new relationship creates terrific opportunities for banks to offer valuable, differentiated services to their customers, and is a great example of how collaboration with financial services technology providers like S1 can help fuel a major expansion of the reach and use of mobile personal payments."

"This deal reflects the growing functionality of the mobile channel and is a strong signal to banks of where customer expectations are headed," said Bob Egan, global head of research and chief analyst at TowerGroup, a market research firm based in Needham, MA. "Given the near-ubiquity of mobile devices and fast adoption of smart phones in particular, we can expect an increasing convergence of trusted banking relationships, personal payments and mobile."

Schulte added that instant and easy access to making secure payments on the go has an endless array of uses that offer consumers flexibility in handling day to day needs. "Any spur of the moment need for making a quick payment when you are on the go is a great opportunity to use the mobile channel, and it eliminates the hassle of finding an ATM or dealing with checks. Paying the babysitter, splitting the restaurant tab, getting money to the kids, or collecting funds for a group gift are just a few examples. All the recipient needs is an email address or cell phone number," he said.

"The strategic alliance with PayPal is just one example of S1's commitment to advance its strategy of 'universal money movement,' enabling banking customers to make payments and move money anytime, anywhere and through any channel worldwide," said Jan Kruger, S1 Division President. "By working with PayPal to offer an easy way to pay almost anyone from anywhere through a mobile device, we help banks forge deeper relationships with their customers through an incredibly useful new service."

About S1 Corporation

Leading banks, credit unions, retailers, and processors need technology that adapts to the complex and challenging needs of their businesses. These organizations want solutions that can respond quickly to changes in the marketplace and help grow their businesses. For more than 20 years, S1 Corporation (Nasdaq:SONE) has been a leader in developing software products that offer flexibility and reliability. Over 3,000 organizations worldwide depend on S1 for payments, online banking, mobile banking, voice banking, branch banking and lending solutions that deliver a competitive advantage. More information is available at www.s1.com.

About Mercantile Bank of Michigan

Based in Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company for Mercantile Bank of Michigan. Founded in 1997 to provide banking services to businesses, individuals, and governmental units, the Bank differentiates itself on the basis of service quality and its banking staff expertise. Mercantile has seven full-service banking offices in Grand Rapids, Holland, and Lansing, Michigan. Mercantile Bank of Michigan's common stock is listed on the NASDAQ Global Select Market under the symbol "MBWM". More information about the company can be found at www.mercbank.com.

Forward-Looking Statements

This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act. These statements include statements with respect to our financial condition, results of operations and business. The words "believes," "expects," "may," "will," "should," "projects," "contemplates," "anticipates," "forecasts," "intends" or similar terminology identify forward-looking statements. These statements are based on our beliefs as well as assumptions made using information currently available to us. Because these statements reflect our current views concerning future events, they involve risks, uncertainties and assumptions. Therefore, actual results may differ significantly from the results discussed in the forward-looking statements. The risk factors included in our reports filed with the Securities and Exchange Commission (and available on our web site at www.s1.com or the SEC's web site at www.sec.gov) provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. Except as provided by law, we undertake no obligation to update any forward-looking statement.

CONTACT: S1 Corporation

David Fontaine



Online Banking Report from FBI

FBI issues warning about fraudulent ACH transfers

Washington, D.C., Nov. 3, 2009 -- As part of a continuing effort to identify the latest cyber crime trends and warn the public, the FBI today released the following information:

Within the last several months, the FBI has seen a significant increase in fraud involving the exploitation of valid online banking credentials belonging to small and medium businesses, municipal governments, and school districts. In a typical scenario, the targeted entity receives a “spear phishing” e-mail which either contains an infected attachment, or directs the recipient to an infected website. Once the recipient opens the attachment or visits the website, malware is installed on their computer. The malware contains a key logger which will harvest each recipient’s business or corporate bank account login information. Shortly thereafter, the perpetrator either creates another user account with the stolen login information or directly initiates funds transfers by masquerading as the legitimate user. These transfers have occurred as both traditional wire transfers and as ACH transfers.

Further reporting has shown that the transfers are directed to the bank accounts of willing or unwitting individuals within the United States. Most of these individuals have been recruited via work-at-home advertisements, or have been contacted after placing resumes on well-known job search websites. These persons are often hired to “process payments,” or “transfer funds.” They are told they will receive wire transfers into their bank accounts. Shortly after funds are received, they are directed to immediately forward most of the money overseas via wire transfer services such as Western Union and Moneygram.

Customers who use online banking services are advised to contact their financial institution to ensure they are employing all the appropriate security and fraud prevention services their institution offers.

The United States Computer Emergency Readiness Team (US-CERT) has made information on banking securely online available at: http://www.us-cert.gov/reading_room/Banking_Securely_Online07102006.pdf .

Protecting your computer against malicious software is an ongoing activity and, at minimum, all computer systems need to be regularly patched, have up-to-date anti-virus software, and have a personal firewall installed. Further information is available at: http://www.us-cert.gov/nav/nt01/ .

If you have experienced unauthorized funds transfers from your bank accounts, or if you have been recruited via a work-at-home opportunity to receive transfers and forward money overseas, please notify the Internet Crime Complaint Center by filing a complaint at: http://www.ic3.gov .

VeriFone and Heartland Legal Spat Escalates


An increasingly bitter battle between VeriFone and Heartland Payment Systems that has seen both file lawsuits in recent weeks, was stepped up today when VeriFone confirmed that it will terminate technical support relationships, and will instead offer free services to mutual merchant customers.

The wrangling is rooted in payment processor Heartland's move to develop an end-to-end encryption system in the wake of the massive data breach it suffered last year.

As part of this project, Heartland worked with Taiwanese manufacturing firm Unelectra International to develop a payment terminal, which was scheduled to be introduced to the US in the third quarter of 2009.

In September, rival manufacturer VeriFone filed a suit claiming the Heartland terminal violated one of its patents. The patent, issued in 2005 to Lipman Electronic Engineering - which the vendor later acquired and renamed VeriFone Israel - covers "anti-tampering enclosure for electronic circuitry". According to the Green Sheet, Heartland responded with its own lawsuit a week later, accusing VeriFone of
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Sharp Canada Teams With Moneris And Precidia To Offer Integrated Debit Solution For ECRs Using TransNet

Sharp Electronics of Canada, a global leading vendor of electronic cash registers (ECRs), announced recently a payment solution which simplifies the integration of PIN-based debit with the Sharp UP700 and UP800 cash registers. This solution, which also includes credit, gift and loyalty cards, is powered by the TransNet payment engine software, developed by Precidia Technologies. Sharp has teamed with Moneris Solutions, one of Canada's leading transaction processors, to bundle this solution in an easily deployed package for Sharp Dealers and their merchants.

The solution announced recently will make it easier for Canadian merchants using Sharp cash registers to integrate secure debit card acceptance. Because TransNet is router-based, transactions are protected by the payment router's advanced security, which features SSL encryption, firewalling and PCI PA-DSS validation. By bundling the complete solution with transaction processing by Moneris, merchants can take advantage of a ‘one-stop' payment solution, with billing and deployment through Moneris. The solution has been designed to minimize capital outlay for the merchant.

David Samuel, Product Manager for Sharp Electronics Canada, believes this bundled solution is ideal for Sharp dealers who have been searching for a PIN debit solution for their customers. "Given the popularity of PIN based debit, merchants need a solution that allows them to easily integrate debit, without worrying about security", said Mr. Samuel. "This solution delivers on that requirement, while also offering credit, gift and loyalty – all without significant capital outlay".

Moneris Solutions Senior Vice-President, Sales and Marketing, David Ades is pleased to offer this solution to merchants and Sharp dealers. "In offering this solution, we have broadened the list of processors a merchant can choose when integrating payments with an ECR", said Mr. Ades. "This low cost, easily deployed solution offers everything merchants require: fast transactions, full security and the flexibility to choose an alternative processor".

Precidia Technologies President Deepak Wanner believes the solution's management capabilities will strengthen the offering for Sharp dealers: "With the NetVu management server, Dealers can enhance their support offerings to merchants, with remote deployment, access to terminal and network data, and alerts in case of problems. These capabilities improve an already strong value equation for this solution".

About Sharp Electronics of Canada Ltd.

Sharp Electronics of Canada Ltd. is a wholly owned subsidiary of Sharp Corporation of Osaka, Japan, a worldwide developer of the core technologies integral to shaping the next generation of home entertainment, appliance and digital office equipment systems. A world leader in Liquid Crystal Display (LCD), Sharp is the developer of the revolutionary AQUOS LCD Televisions and has won numerous awards for the technology behind the AQUOS line. Sharp Electronics of Canada Ltd. is located in Mississauga, Ontario. For more information, visit www.sharp.ca

About Moneris Solutions Corporation

As one of North America's largest providers of payment processing solutions, Moneris Solutions Corporation offers credit, debit, wireless and online payment services for merchants in virtually every industry segment. Through its Ernex division, Moneris also provides electronic loyalty and stored-value card programs. With more than 350,000 merchant locations generating close to three billion payment card transactions annually, Moneris provides the hardware, software and systems needed to improve business efficiency and manage payments. For more information, visit www.moneris.com

About Precidia Technologies Inc.

Precidia Technologies is a global leader in the design and manufacture of Internet Protocol (IP) payment and networking products. With customers in over 85 countries, Precidia offers unique products designed for simple serial networking, as well as a suite which manages the complexity of IP based payments in the retail industry. All of Precidia's products have been designed to maximize the potential of existing equipment, with deployment, monitoring, security and management tools. For more information, visit http://www.precidia.com

SOURCE: Sharp Electronics

Online Banking/eCommerce Introduced in Bangladesh

Bangladesh Bank Introduces Online Payment System

Dhaka, Nov 3 (IANS) Banking in Bangladesh entered a new era with the commencement of online payment system introduced by the country’s central bank. It facilitates fund transfers and payment of utility bills on the net.

The new move allows people to use local currency credit cards for online transactions within the country.

Although these services are being introduced by the Bangladesh Bank on a small scale, it is seen as the first step toward full-fledged online banking.

It will enhance the use of e-commerce and online banking services, facilitating subscribers of all commercial banks in Bangladesh.

“Hassles are about to be over. Shoppers will no longer have to go to market spending hours in traffic jams. One does not need to stand in long queues to pay utility bills. All are now possible on the Internet,” The Daily Star said Tuesday.

The central bank issued a circular to all commercial banks, saying subscribers to Internet banking will now be able to pay utility bills online from customers’ accounts to billing accounts. “This will create a revolution in e-commerce and online banking,” said Bangladesh Bank Governor Atiur Rahman.

Online fund transfer between two accounts under the same name in the same bank will also be possible.

Continue Reading

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M86 Security™ Acquires Finjan

Acquisition Adds Enterprise-Class Secure Web Gateway and Hybrid SaaS Solutions to M86’s Web and Email Products

Orange, Calif. – November 3, 2009 - PIN Payments News Blog

M86 Security, a global provider of Web and messaging security products, today announced the acquisition of Finjan, a leading provider of secure Web gateway solutions for the enterprise market. This acquisition adds Finjan’s line of enterprise-class secure Web gateway and SaaS-based solutions to M86 Security’s portfolio of Email and Web security solutions and significantly enhances the company’s malware detection technology.

Under the terms of the agreement, M86 acquires Finjan’s global operations, products, and technology, which merge into M86 Security effective immediately. The company will maintain a development center and operations in Netanya, Israel. M86 will also merge Finjan’s security labs, Malicious Code Research Center, into M86 Security Labs, forming a comprehensive Email and Web threat research organization. As part of the agreement, M86 Security acquires a license to Finjan’s patents.

M86 Security was formed by the November 2008 merger of Marshal and 8e6 Technologies. Finjan is the company’s second acquisition in the last six months, following the March 2009 acquisition of behavioral malware detection company Avinti, Inc. The acquisition grows M86 Security’s employee base to just more than 300 employees.

“We are very pleased to add Finjan’s technology, products, customers and employees to the M86 team,” said John Vigouroux, chief executive officer at M86 Security. “With M86’s complementary Email security and reporting products and worldwide distribution, we anticipate a broad opportunity for Finjan’s enterprise-class Web security solutions to existing and new customers.”

Mr. Vigouroux joined M86 in April 2009 from his position as President and CEO of Finjan. Recently, the company had also hired Werner Thalmeier as vice president of product management. Thalmeier previously held the same position at Finjan. “With my own knowledge of Finjan’s business, coupled with Werner’s deep technical knowledge of the products, we’re confident about our aggressive plan to integrate its secure Web gateway into the M86 product line,” Vigouroux added.

The Finjan acquisition is well-timed for M86 as Web-based threats have increased dramatically to become the main point of attack. Many organizations are looking to implement malware protection in addition to existing Web filtering strategies.

According to Gartner, “The Web gateway represents the best location not only to filter inbound threats but also to intercept outbound malware communications, before vital information is lost. However, fewer than 20 percent of organizations have implemented malware detection in Web gateways. Implementing a secure Web gateway is the most effective and economical method to minimize malware infections.” *

Finjan provides active real-time content inspection and code analysis technology focused on identifying malware delivered inbound through the Web channel. In addition, Finjan’s Anti-Crimeware and Anti-Malware protection protects against Web 2.0-based malware. This technology addresses one of the most important entry points for malware into the business network and provides effective protection of Web threats that are not recognized by traditional signature-based technologies.

“We are very excited to see Finjan become part of M86 Security,” said Gadi Maier, president and CEO of Finjan Software, Inc. “Finjan is well known for its advanced malware detection technology and leading secure Web gateway and hybrid SaaS solutions. Integrating it into M86’s broader Web and messaging product lines and utilizing its worldwide distribution is a win-win for M86 Security and Finjan.”

“The acquisition of Finjan supports our strategy to become the recognized leader in comprehensive inbound and outbound content security,” added Vigouroux. “With their real-time code analysis and our behavior-based malware detection, M86 now offers industry-leading threat protection technologies on both the Web and Email, and can provide an effective way to enable these technologies on appliances, software, or in the cloud.”

About M86 Security

M86 Security is a global provider of Web and messaging security products, delivering comprehensive protection to more than 20,000 customers and over 16 million users worldwide. As one of the largest independent internet security companies, we have the expertise, product breadth and technology to protect organizations from both current and emerging threats. Our appliance, software and cloud-based solutions leverage real-time threat data to proactively secure customers’ networks from malware and spam; protect their sensitive information; and maintain employee productivity. The company is based in Orange, California with international headquarters in London and offices worldwide. For more information about M86 Security, please visit http://www.m86security.com/.

* Gartner, Inc. "Top 10 Steps to Avoid Malware Infections" by Peter Firstbrook, Sept. 8, 2009
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Fiserv Thought Leaders to Provide Insight at BAI Retail Delivery Conference

Fiserv, Inc. announced this morning that in addition to exhibiting and commemorating the company's 25th anniversary, the company will deliver four presentations this week at BAI's Retail Delivery Conference (RDC). The annual conference, which will be held this year in Boston, Mass. Nov. 3-5, brings together nearly 6,000 participants annually, making it the largest retail financial services event in the world. Please contact me with additional questions.

Fiserv Thought Leaders to Provide Insight at BAI Retail Delivery Conference

Brookfield, Wis., November 3, 2009 - BAI RDC Booth #417 -PIN Payments News Blog - Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that in addition to exhibiting and commemorating the company's 25th anniversary, the company will deliver four presentations this week at BAI's Retail Delivery Conference (RDC). The annual conference, which will be held this year in Boston, Mass. Nov. 3-5, brings together nearly 6,000 participants annually, making it the largest retail financial services event in the world.

Three presentations will be held in the RDC Solution Center:

  • Wednesday, Nov. 4, from 10:30 - 11:00 a.m., Erich Litch, senior vice president and general manager of Consumer Services, Fiserv, will present on the company's personal payments service in a session titled "P2P and Social Payments: Take Control to Drive Deposits and Acquisition".

  • Thursday, Nov. 5 from 9:45 - 10:15 a.m., Ken Patrick, director of Revenue Enhancement Solutions, Fiserv, will present on the company's Incentive Checking solution in a session titled "Leveraging Value Exchange to Increase Loyalty and Profit".

  • Also on Thursday, Mark Schiefelbein, director, Customer Value Enhancement, Fiserv, will present on the company's EnActTM solution, powered by Microsoft Dynamics CRM, in a session that will be held 10:30 - 11:00 a.m., titled "Leveraging CRM to optimize your sales operating model".

  • Additionally, Jim Wilcox, director of Debit for EFT Solutions, Fiserv, will present a general session titled, "R2D2: Retention, Revenue, and the Debit Decision" in room 156A on Thursday, Nov. 5 from 1:45 - 2:30 p.m. Session descriptions and details follow.

P2P and Social Payments: Take Control to Drive Deposits and Acquisition

Wednesday, November 4, 10:30 - 11:00 a.m., Solution Theater # 3

Erich Litch, senior vice president and general manager of Consumer Services, Fiserv

In this session Litch will showcase the new personal payments service from Fiserv. An example of the company's core competencies in payments and customer and channel management, the personal payments service will enable consumers to quickly and easily move money across a secure 'network' of financial institutions. A demonstration during the session will show how the service will allow consumers to send and receive payments using their existing online banking account, connecting them with more of their friends, family, neighbors and colleagues than with any other payment community today.

Leveraging Value Exchange to Increase Loyalty and Profit

Thursday, November 5, 9:45 - 10:15 a.m., Theater # 1

Ken Patrick, director of Revenue Enhancement Solutions, Fiserv

With everything happening in the market today, financial institutions are concerned with growing deposits and generating non-interest income. The adoption of a value-exchange product strategy can accomplish both. In this session, Patrick will demonstrate how financial institutions can encourage customers to increase account balances and transactions by rewarding them with incentives that fit their lifestyle. This exchange of value can help create customers for life and bolster financial institution balance sheets with: non-interest income, increased deposits, cross-sell opportunities and cost savings.

Leveraging CRM to Optimize Your Sales Operating Model

Thursday, November 5, 10:30 - 11:00 a.m., Theater # 1

Mark Schiefelbein, director of Customer Value Enhancement, Fiserv

During this product showcase, Schiefelbein will demonstrate how the EnAct solution, powered by Microsoft Dynamics CRM, drives structure, efficiency, accountability and sales results across the financial institution. EnAct from Fiserv was designed exclusively for bankers and combines all the capabilities and flexibility of a finely-tuned banking solution with specific profiles for wealth management, commercial banking and retail banking and is seamlessly integrated with Microsoft's Outlook and Office programs.

R2D2: Retention, Revenue, and the Debit Decision

Thursday, November 5, 1:45 p.m. - 2:30 p.m., Room 156A

Jim Wilcox, director of Debit for EFT Solutions, Fiserv

In an era of dark economic forces and tightening credit standards, Wilcox will show how consumers' growing preference for debit can help financial institutions grow their non-interest income. During this session attendees will learn how to assess the health of their debit programs and understand the opportunities - both monetary and loyalty - that can be created through marketing, rewards and other cardholder-focused programs.

The presentations given by Fiserv at BAI RDC 2009 are examples of the company's core competencies in customer and channel management, data analytics and business intelligence, payments and processing.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrates its 25th year in 2009. For more information, visit www.fiserv.com.

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Western Union Launches Prepaid Visa Gift Cards

Nearly seven out of ten Americans Plan to Give Cash or Gift Cards this Holiday Season

The Western Union Gift Card Complements Recently Launched Western Union(R) MoneyWise(TM) and Gold Reloadable Prepaid Cards

ENGLEWOOD, Colo., Nov 02, 2009 (BUSINESS WIRE) -- The Western Union Company (NYSE: WU), a leader in the money transfer segment of global payments, today launched a new Visa(R) prepaid gift card and greeting card offering, providing consumers in the U.S. new ways to send the gift of money anytime of the year, including this holiday season, using Western Union(R) branded prepaid gift cards available at www.WesternUnion.com.

"The launch of the Western Union prepaid Visa gift card complements Western Union's consumer experience when giving the gift of cash," said Stewart A. Stockdale, Executive Vice President and President, The Americas for Western Union. "As a leader in money movement, we understand what consumers need and want - convenience, fast and reliable money management solutions. Our new prepaid gift card and personalized greeting card offering follows the recently introduced Western Union MoneyWise and Gold Card reloadable prepaid cards."

According to a Western Union consumer survey, by Gfk, Inc., sixty-nine percent of consumers in the U.S. are planning to give the gift of cash or a prepaid gift card, this holiday season, to friends and family.

How To Purchase and Send a Western Union Online Gift and Greeting Card:

Consumers can quickly and conveniently send the new Gift and Greeting Card to loved ones by simply visiting www.westernunion.com or www.wugift.com.

1. Pick from nearly 50 different greeting card designs covering multiple occasions - from birthdays, anniversaries and seasonal holidays, to weddings, graduations or "just because."

2. Simply add a personal message which will be printed in the greeting card

3. Select the amount to load onto the Western Union Visa Gift Card.

4. Choose from three shipping options including FedEx overnight, second day delivery services and regular first class mail.

5. The personalized greeting card along with the Western Union Visa Gift Card is delivered directly to the recipient.

"It truly is a simple and convenient way to send the gift of money along with a personalized greeting card," added Stockdale.

The Western Union Visa Gift Card Features:

  • The Gift Card can be used anywhere Visa debit cards are accepted including online.

  • The Western Union Visa Gift Card is covered by Visa's zero liability policy, which means cardholders are protected from unauthorized use.**

  • Once received, the recipient simply calls a toll-free number to activate the card; unlike other over the counter gift cards that are active when purchased.

  • If lost or stolen the recipient can have the card replaced.

  • Access to card account activity is available online. "With the introduction of our personalized gift and greeting card service, Western Union hopes to become the premiere destination for all gift-giving needs."

* A $2.50 per month servicing fee applies after 12 consecutive months of non-use.

** Visa's Zero Liability policy covers U.S.-issued cards only and does not apply to ATM transactions, PIN transactions not processed by Visa, or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or visit www.visa.com/security.

The Western Union(R) MoneyWise(TM) Visa Prepaid Card, Western Union Gold Card Visa Prepaid Card, and the Western Union Gift Visa Prepaid Cards are issued by MetaBank(TM) pursuant to a license from Visa U.S.A. Inc. MetaBank, Member FDIC.

About Western Union

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta and Pago Facil branded payment services, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. Western Union, Vigo and Orlandi Valuta operate through a combined network of more than 400,000 agent locations in 200 countries and territories. In 2008, The Western Union Company completed 188 million consumer-to-consumer transactions worldwide, moving $74 billion of principal between consumers, and 412 million consumer-to-business transactions. For more information, visit www.westernunion.com.


SOURCE: Western Union

Western Union
Media Contact:
Daniel Díaz, 720-332-5564

Verifone and First Data Team Up for Security

Atlanta & San Jose, Calif. -- First Data, a global technology and payments processing leader, and VeriFone Holdings, Inc. (NYSE: PAY), a global provider of secure payment solutions, today announced a strategic partnership to promote and enhance secure payment solutions.

Under the relationship, First Data has become a preferred distributor and reseller of VeriFone secure countertop payment solutions in the United States, through its TASQ Technology subsidiary. TASQ Technology is a market leader in delivering value-added repair, maintenance and deployment services for payment devices to merchants of all sizes.

VeriFone will design, build and manufacture new, high-volume co-branded countertop payment systems that will expand the First Data award-winning line of payment solutions. Together the companies will explore other opportunities including non-US reseller and distribution relationships, EMV countertop solutions, and Class A certification of other VeriFone devices.

"We are pleased that two leaders of the payment industry are working together to better serve the merchant community," said Ed Labry, president of Retail and Alliance Services at First Data.

"First Data's confidence in VeriFone is a tremendous honor and we will work diligently to continue to validate that trust," said Douglas Bergeron, CEO of VeriFone.

About First Data

First Data powers the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of electronic payment. Whether the choice of payment is a gift card, a credit or debit card or a check, First Data securely processes the transaction and harnesses the power of the data to deliver intelligence and insight for millions of merchant locations and thousands of card issuers in 36 countries. For more information, visit www.firstdata.com .

About VeriFone Holdings, Inc. (www.verifone.com )

VeriFone Holdings, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

Source: Company press release.

Visa Incorporated F4Q09 (Qtr End 09/30/09) Earnings Call Transcript

Visa Introducing new eCommerce Solution?  (from the earnings call transcript)

"Lastly, on the Internet, we continue to make progress in developing our new ecommerce solution. This solution, called Right Click by Visa, is an online shopping tool targeted to consumers that assists online shoppers by offering the ability to browse multiple merchants and select items consumers are interested in looking at in one central location, making comparison shopping easier, auto-sell capabilities that instantly populate the consumer's shipping and payment details for faster checkout, and exclusive offers for Visa cardholders and the ability to solicit feedback from friends on items the user is considering to buy.

Finally, we are working on an aliasing capability that will make the safest way to pay on the Internet even better. We expect rolling out his feature by the summer of 2010.

Extensive testing of Right Click has been completed and we are conducting tests with users and a limited number of U.S.-based issuers in the coming weeks. Based on user feedback, we are continuing to refine features and functionalities. We expect version 1.1 of Right Click to roll out next calendar year."

Visa Incorporated F4Q09 (Qtr End 09/30/09) Earnings Call Transcript: Click here to go to Seeking Alpha and read the transcript

Gemalto Invests in ServiceSide Group

GemaltoImage via Wikipedia

Gemalto invests in Serverside Group, the world leader in personalizing bank cards with digital images generated by end users

Amsterdam - Nov 3, 2009 - Gemalto, the world leader in digital security, today confirmed that it has subscribed to a capital increase in Serverside Group, with an option to potentially acquire the company at a later date. Gemalto has also entered into a worldwide distribution agreement with Serverside. Gemalto will consolidate Serverside’s results as of September 2009. The terms of the transaction were not disclosed.

Serverside’s software-as-a-service (SAAS) platform, AllAboutMe™, enables custom images and designs to be uploaded via a website and then processed by the participating banks’ supply chain. AllAboutME delivers robust ROI to card issuers by creating a personal bond between the consumer and the card. This bond means the personalized card stays “top of wallet”, and both card usage and average spend increase. Similarly, Serverside technology enables small associations, groups or companies to compose their own “affinity” and co-branded cards.

Serverside Group was founded in 2003 by Adam and Tom Elgar, who will continue to manage the business going forward. Serverside employs approximately 45 people in offices in the UK, USA and New Zealand.

Olivier Piou, chief executive officer of Gemalto, stated: “This new bolt-on acquisition expands our software and services offering in the banking and loyalty arena. In addition, we will be able to leverage the Serverside platform in our Identity and Access Management service business, towards custom services to enterprises in particular. Serverside’s software-as-a-service business model is in perfect fit with our next phase of development strategy.”

”We have a high regard for Serverside’s approach to business, focusing on consumer needs and ease of use,” commented Philippe Cambriel, executive vice president for Secure Transactions at Gemalto. “By adding innovative marketing tools to the payment instruments package, they enable financial institutions to clearly improve the performance of their card portfolio.”

Adam Elgar, founder and CEO of Serverside Group, added, “We have built a strong international presence and a scalable business model. Gemalto’s investment provides us with growth capital to aggressively develop both our technology and market share.”

About Serverside Group

Founded in 2003, Serverside Group is the global technology leader in digital card design, and a provider of innovative software solutions to issuers, personalization bureaus and card producers.

Serverside has built a market-leading position by running more than 1,000 card programs through its network of approximately 200 card issuers in 23 countries. Its clients include RBS Group, Banco Sabadell, ING, Permanent TSB, ANZ, BMW, KBC, Fortis, Eurobank, First National Bank Omaha and Heritage Building Society.

Serverside Group is headquartered in London and has offices in New York, Chicago and Auckland.


About Gemalto

Gemalto (Euronext NL 0000400653 GTO) is the world leader in digital security with 2008 annual revenues of €1.68 billion, and 10,000 employees operating out of 75 offices, research and service centers in 40 countries.

Gemalto is at the heart of our evolving digital society. The freedom to communicate, travel, shop, bank, entertain, and work—anytime, anywhere—has become an integral part of what people want and expect, in ways that are convenient, enjoyable and secure.

Gemalto delivers on the growing demands of billions of people worldwide for mobile connectivity, identity and data protection, credit card safety, health and transportation services, e-government and national security. We do this by supplying to governments, wireless operators, banks and enterprises a wide range of secure personal devices, such as subscriber identification modules (SIM), Universal Integrated Circuit Card (UICC) in mobile phones, smart banking cards, smart card access badges, electronic passports, and USB tokens for online identity protection. To complete the solution we also provide software, systems and services to help our customers achieve their goals.

As the use of Gemalto's software and secure devices increases with the number of people interacting in the digital and wireless world, the company is poised to thrive over the coming years.

For more information please visit www.gemalto.com.
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UK to Kenya Mobile Money Transfer - M-PESA to Safaricom

The Paypers: Safaricom launches international component of mobile money transfer service

Kenyan mobile operator Safaricom has launched an international component of the M-Pesa mobile phone-based money transfer service.

Thus, M-PESA customers in Kenya will now be able to receive money from people in the UK directly into their mobile banking accounts. The initiative follows a pilot project rolled out by the company in partnership with three agents, namely Western Union, Provident Capital Transfers and KenTv. A total of 19 UK outlets were involved in the pilot, covering areas with a high number of Kenyans, such as Reading, London, Luton, Wembley & Glasgow.

In order to use the service, the sender will provide the agent with the recipient’s name, Kenyan mobile number and the amount of money being sent in GBP currency. After the exchange rate conversion to Kenya Shillings is done at the prevailing rate, the agent will send the Kenya Shillings directly to the recipient's M-PESA account. The maximum amount that can be sent internationally per transaction via M-PESA is GBP 250.

The M-PESA customers can withdraw money at 12,000 M-PESA agents across the country, as well as use M-PESA to pay bills, buy airtime and to perform local money transfers.

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MasterCard Reports Q3 Financial Results

MasterCard Incorporated


Barbara Gasper Investor Relations 914-249-4565

Chris Monteiro Media Relations 914-249-5826

Attached PDF

MasterCard Incorporated Reports Third-Quarter 2009 Financial Results

• Net income of $456 million, or $3.48 per diluted share, excluding special items

• Net income of $452 million, or $3.45 per diluted share, including special items

• Net revenue growth of 2.0%, to $1.4 billion

• Gross dollar volume and purchase volume relatively flat

• Total operating expenses declined 13.3%, excluding special items

Purchase, NY, November 03, 2009 - MasterCard Incorporated (NYSE:MA) today announced financial results for the third quarter of 2009. The company reported net income of $456 million, or $3.48 per diluted share, excluding special items, and net income of $452 million, or $3.45 per diluted share, including special items. The company's total operating expenses, other income, effective tax rate, net income and earnings per share, excluding special items, are non-GAAP financial measures that are reconciled to their most directly comparable GAAP measures in the accompanying GAAP reconciliations.

Net revenue for the third quarter of 2009 was $1.4 billion, a 2.0% increase versus the same period in 2008. On a constant currency basis (excluding the movement of the euro and the Brazilian real relative to the U.S. dollar), net revenue increased 3.9% compared to the same period in 2008. The higher net revenue in the third quarter this year benefited from:

  • Pricing changes that contributed approximately 6 percentage points of the net revenue growth; and

  • A 7.6% increase in the number of transactions processed to 5.8 billion.

These factors were partially offset by the impact of slightly lower cross border volumes on third-quarter 2009 revenue, compared to the same period in 2008.

MasterCard’s gross dollar volume was relatively flat, up 0.3% on a local currency basis, versus the third quarter of 2008, to $633 billion. Worldwide purchase volume during the quarter was also relatively flat, up 0.4% on a local currency basis, versus the third quarter of 2008, to $480 billion. As of September 30, 2009, the company’s financial-institution customers had issued 964 million MasterCard cards, comparable to the number of cards issued at September 30, 2008.

“We are very pleased with our third-quarter financial results, specifically since we began to see signs of stabilization in parts of our business,” said Robert W. Selander, MasterCard chief executive officer. “Total processed transactions continued to grow at a high single-digit rate, with double-digit growth coming from our Asia Pacific/Middle East/Africa and Latin America regions. At the same time, our overall cross-border volumes are steadying with our Asia Pacific region demonstrating significant growth in the quarter, and the U.S. showing a lower rate of decline. We continued to aggressively manage costs and improve margins, while still investing in key growth areas across our business.

“Overall, our results once again underscore the global trend toward electronic payments, and the strength of our business model,” Selander added. “We continue to make life easier for consumers, businesses and governments, all of whom seek safer, more controllable and more efficient payment alternatives for everyday commerce.”

Special items for the third quarter of 2009 represented $6.2 million pre-tax litigation settlement charges. The special item for the third quarter of 2008 represented an $827.5 million net pre-tax charge related to an antitrust litigation settlement.

Excluding special items, total operating expenses decreased 13.3%, to $685 million, during the third quarter of 2009 compared to the same period in 2008. Currency fluctuations contributed 1.3 percentage points to the rate of decline. The decrease in total operating expenses was driven by:

  • A 7.9% decrease in general and administrative expenses, primarily resulting from lower professional fees and travel expenses, along with a benefit from foreign exchange remeasurement, versus the comparable period in 2008. These factors were partially offset by increased personnel costs due to severance of $31 million in the third quarter of 2009. Excluding the impact of severance costs in both periods, general and administrative expenses declined 13.8% for the third quarter of 2009. A favorable foreign currency impact represented 1.1 percentage points of both rates of decline; and

  • A 29.4% decrease in advertising and marketing expenses versus the year-ago period, primarily related to reduced investments and continued cost containment initiatives. Favorable currency fluctuations representing approximately 1.5 percentage points contributed to the rate of decline.

Including special items, total operating expenses decreased 57.3%, to $691 million, primarily due to the net litigation settlement that occurred in the third quarter of 2008.

Excluding special items, the operating margin was 49.8% for the third quarter of 2009, up 8.8 percentage points over the year-ago period. Including special items, the operating margin was 49.4% for the third quarter of 2009.

MasterCard's effective tax rate was 32.9% in the third quarter of 2009. For the third quarter of 2008, the effective tax rate was 39.7%, excluding special items, and 34.1% including the special items. The difference in the effective tax rate was primarily due to the charge for the net litigation settlement recorded in the third quarter of 2008.

Year-to-Date 2009 Results

For the nine months ended September 30, 2009, MasterCard reported net income of $1.2 billion, or $8.95 per diluted share, excluding the impact of special items, and net income of $1.2 billion, or $8.92 per diluted share, including special items*.

Net revenue for the nine months ended September 30, 2009, was $3.8 billion, a 0.9% increase versus the same period in 2008. On a constant currency basis, net revenue increased 4.4%. Increased processed transactions of 7.0% and pricing changes of approximately 6 percentage points contributed to the revenue growth in the year-to-date period. These factors were partially offset by the impact of slightly lower cross border volumes on revenue for the nine months ended September 30, 2009, relative to the comparable period last year.

Total operating expenses decreased 12.5%, to $2.0 billion, for the nine-month period compared to the same period in 2008, excluding special items for both periods. Currency fluctuations contributed 2.5 percentage points of this decrease. Including special items, operating expenses decreased 57.8%.

Total net other expense was $32 million for the nine-month period versus total net other income of $169 million for the same period in 2008, including special items. The decrease in other income was primarily driven by gains from the sale of Redecard securities and the termination of a customer business agreement in 2008.

MasterCard’s effective tax rate, excluding special items, was 33.6% in the nine months ended September 30, 2009, versus a rate of 36.7% in the comparable period in 2008. Including the special items, the effective tax rate was 33.6% for the 2009 period, and 40.4% for the 2008 period. The difference in the effective tax rate was primarily due to the impact of the charge for litigation settlements in 2008.

*Detailed Q3/2009 Financial Statements are attached above.

Third-Quarter 2009 Financial Results Conference Call Details

At 9:00 a.m. EST today, the company will host a conference call to discuss its third-quarter 2009 financial results.

The dial-in information for this call is 866-700-6293 (within the U.S.) and 617-213-8835 (outside the U.S.) and the passcode is 63207343. A replay of the call will be available for one week thereafter. The replay can be accessed by dialing 888-286-8010 (within the U.S.) and 617-801-6888 (outside the U.S.) and using passcode 88640718.

The live call and the replay, along with supporting materials, can also be accessed through the Investor Relations section of the company’s website at www.mastercard.com.

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CashEdge and Firethorn to Launch Integrated Mobile Person-to-Person Payments Solution for Financial Institutions

Solution to Leverage CashEdge's POPmoney(TM) Person-to-Person Payments Service and Firethorn's Mobile Wallet Solution NEW YORK and BOSTON, Nov. 3

NEW YORK and BOSTON, Nov. 3 /PRNewswire/ -- CashEdge, Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement(TM) services, and mobile commerce enabler Firethorn Holdings, LLC, a Qualcomm company (Nasdaq: QCOM), announced today that the companies have entered into a strategic relationship to bring to market an integrated mobile person-to-person (P2P) payments solution integrating CashEdge's POPmoney P2P payments service and Firethorn's Mobile Wallet solution.

The integrated mobile P2P solution will enable financial institutions to offer their customers the ability to send electronic payments using CashEdge's POPmoney from within their Firethorn mobile banking application, by simply using the email address or mobile phone number of the recipient. This comprehensive mobile P2P banking solution will give consumers greater control over their finances, enabling them to pay other people whenever and wherever they want.

The convenience and security of using a service offered by one's existing financial institution is compelling for consumers. According to CashEdge's 2009 consumer survey, 77 percent of consumers would prefer to use a P2P payments service offered through their financial institution compared to an independent service.

"Consumers are demanding new payment solutions, particularly the ability to conveniently and securely send payments while on the go," said Ben Ackerman, Vice President of product strategy for Firethorn. "This Firethorn and CashEdge relationship is an excellent fit, both in terms of business and technical capabilities. We already have many common customers and prospects who have been asking for a holistic P2P solution, and now we can put those customers on the path to mobile commerce."

"Firethorn's Mobile Wallet application is an innovative service that successfully helps meet the demands of today's consumers for easy and convenient mobile banking solutions," stated Neil Platt, Senior Vice President and General Manager, US Banking, CashEdge Inc. "CashEdge is always looking for opportunities to broaden the scope of our services and deliver cutting-edge services to financial institutions, and working with Firethorn further enables us to meet those goals."

POPmoney is the first email and mobile person-to-person payments (P2P) service for financial institutions that allows customers to send an electronic payment, from within the online or mobile banking site, by simply using the email address or mobile phone number of the recipient. Likewise, the recipients of the payment can receive the funds directly into their account. Firethorn's Mobile Wallet solution enables bank customers to use their mobile devices to view account balances, check credit card balances, transfer funds between accounts, view and pay bills, and access other services such as loyalty programs and targeted offers.

CashEdge will showcase POPmoney at the BAI Retail Delivery Conference on November 3 - 5, 2009 in Boston, at booth #725.

Firethorn can also be found in the exhibit hall at the BAI Retail Delivery Conference on November 3 - 5, 2009 in Boston, at booth #232.

About Firethorn

Firethorn Holdings, LLC, a Qualcomm company (Nasdaq: QCOM), is providing an important link in the emerging mobile commerce ecosystem. As a pioneer in mobile banking, Firethorn is transforming the traditional wallet into a streamlined, efficient and protected mobile revenue channel that will bridge relationships among financial institutions, retailers, wireless operators and consumers. Firethorn's innovative technology creates easily accessible, branded and personalized mobile commerce channels that give consumers access to their accounts, offers and transactions while on the go. For more information about Firethorn, visit www.firethornmobile.com.

About CashEdge

CashEdge is the leader in Intelligent Money Movement(TM) services providing innovative payment solutions to financial institutions for their retail and small business banking customers. CashEdge's services include mobile and online person-to-person (P2P) payments and small business payments. CashEdge currently serves hundreds of leading financial institutions, including seven of the ten largest banks in the country.

CashEdge's industry leading products include POPmoney(TM) for person-to-person payments; OpenNow®/FundNow® for new account opening and funding; TransferNow® for Consumers, which includes Me-to-Me Transfers and Third Party Transfers; and TransferNow® for Small Businesses, which includes Invoicing, Me-to-Me Transfers, Employee Payments and Vendor Payments. All CashEdge products are supported by industry-leading risk management capabilities that leverage proprietary technology to help financial institutions mitigate risk and decrease fraud exposure.

The Company is headquartered in New York with offices in Silicon Valley and India. For more information, visit www.cashedge.com.

CashEdge Contact:

Jennifer Moritz

Zer0 to 5ive

917 748 4006


Firethorn Contact:

Kelly Buday


678 978 5429


SOURCE CashEdge, Inc.

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The Family Credit Union Now Offering Mobile Money from Fiserv

Members are rapidly adopting the mobile banking service to move money between accounts, pay bills and receive account alerts -

Brookfield, Wis., November 3, 2009 -PIN Payments News Blog - BAI RDC Booth #417 - Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that The Family Credit Union, an $89.9 million credit union with branches in Iowa and Illinois, is now providing members access to mobile financial services with Mobile Money(SM).

Currently, The Family Credit Union members can access Mobile Money from Fiserv through any mobile device using SMS (text messaging) or a mobile browser, and a downloadable application is planned. Members can check balances and review account history, move money between accounts, pay bills and receive a variety of pre-set account alerts. The service is free and can be activated through the credit union's CU@ccess24 home banking site.

"Mobile phones are an integral part of our daily lives, and we wanted to bring our members the convenience of managing their finances while on the go," said The Family Credit Union president and chief executive officer Sandra Sheffey. "Our initial expectation was that the Mobile Money service would appeal to our Gen Y members, but we are seeing strong interest among Baby Boomers and some of our older members as well. These easily accessible mobile financial services are appealing to a wide range of members."

During the first thirty days of availability, more than 100 members signed up to use The Family Credit Union mobile banking service, and adoption is steadily growing.

"The Family Credit Union is an early mover into mobile banking, and is among the first in their area to deliver account information to the mobile device," said Dave Selina, segment executive for Credit Union Solutions at Fiserv. "Fiserv partnered with the credit union to test a beta version of Mobile Money earlier this year, and now they are one of the first financial institutions offering the service. We have seen the commitment of The Family Credit Union to providing their members with current technologies to help manage their financial lives."

The launch of Mobile Money deepens the relationship between Fiserv and The Family Credit Union, which also uses the Portico(TM) account processing platform, Virtual Branch(R) home banking and electronic funds transfer (EFT) from Fiserv. The Family Credit Union is using the cost-effective, pre-packaged hosted ASP version of Mobile Money. Also available in a licensed version, Mobile Money from Fiserv is a secure application that utilizes security best practices such as data encryption, along with additional risk management safeguards.

An example of the Fiserv core competencies in payments and customer and channel management, Mobile Money is the industry's most complete mobile banking and payments solution, supporting consumers on all three mobile access modes, offering online and offline enrollment capabilities and integrating with core banking, online banking and electronic payments systems. Mobile Money from Fiserv incorporates technology from Atlanta-based M-Com.

About The Family Credit Union

The Family Credit Union is a full service community financial institution with branches in Davenport, Bettendorf, Muscatine, Perry Iowa and Silvis Illinois. For complete information about The Family Credit Union log on to www.familycu.com.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrates its 25th year in 2009. For more information, visit www.fiserv.com.

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