Monday, March 15, 2010

MoBeePay(TM) Officially Announces a Revolutionary Mobile eCommerce App.

MoBeePay(TM) Officially Announces a Revolutionary Mobile eCommerce Application

CHICAGO, March 15 /PRNewswire/ -- The MoBeePay iPhone application (other versions coming soon) allows buyers and sellers to connect and transact business in seconds without having to go through a time-consuming, risky payment process. Unlike PayPal, MoBeePay removes the need for a web based store and moves the transaction anywhere a merchant or consumer desires whether in the digital or the physical world.

Sellers register their products with MoBeePay and receive MoBeeTags (data matricies) and or MoBeeCodes (product codes) from MoBeePay, which are stored in the MoBeeHive (cloud). Buyers merely point their iPhone camera at the MoBeeTag in a magazine, on a billboard, or any print ad. Once the MoBeeTag is captured by the app the data is securely sent to the MoBeeHive. The MoBeeTag is compared, verified, and then the purchase is completed instantly if the user has signed in to their MoBeePay account.

If a user has not signed in they will be prompted to either sign in or sign up for an account directly in the MoBeePay app. The seller is notified of a successful purchase and the merchandise is shipped directly to the consumer from the manufacturer or retailer to the address on file, or in the physical world, handed to the buyer. Buyers who are unable to capture an accurate image are also able to enter a MoBeeCode as an alternative. This MoBeeCode or MoBeeTag can also be sent via SMS or MMS to the MoBeeHive if the user does not have an app compatible phone.

Like Square™ or VeriFone's PAYware™, MoBeePay will soon be offering a MoBeeMerchant application with hardware (MoBeeSwipe) that will enable mobile merchants or small retailers to accept credit and debit purchases at card present rates by plugging the MoBeeSwipe into an earjack.

Utilizing the same MoBeeTags with MoBeeMerchant, merchants can avoid the need for costly POS systems while still enjoying the benefits of an electronic transaction and inventory management system at competitive merchant discount rates.

MoBeePay was developed by Kent Mages and Kenneth Mages and has multiple patents pending. All MoBee terms herein are trademarked.

To see a demo visit and let us know that you're interested.

About MobeePay:

MobeePay is the world's first mobile commerce application that allows anyone with a cell phone to complete purchases anywhere anytime and/or instantly open a merchant account on the web or in the physical world for free.


Ever see an ad in a magazine for something you really want only to forget what the item was hours later? Ever walk by a store after it’s closed and see something you would love to buy in the window, but forget what it was the next day? With MoBeePay you can satisfy that need to buy with just a snap of your camera.

It’s 2010, why should you need to remember an ad, repeatedly enter your card number for different retailers, waste time filing out forms or speaking with sales people? Just log in to your MoBeePay account once and you’re done. We handle the billing and shipping so you don’t have to. Snap one of our MoBeeTags and that brand new piece of merchandise will be billed and shipped in the blink of an eye, or rather the snap of a shutter.

Use anywhere you see a MoBeeTag and pass on that cool new product to friends via social networking sites like twitter or Facebook. Check back soon to learn more and to sign up for you own MoBeePay account. Just leave your email address and you’ll be the first to know when we go live.

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MasterCard Introduces ‘ATM Hunter’ for BlackBerry Smartphones

MasterCard WorldwideImage via Wikipedia

New MasterCard Application Helps BlackBerry Smartphone Users Quickly Find the Nearest ATM Anywhere in the World

PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Worldwide today announced the availability of the MasterCard® ATM Hunter application for BlackBerry® smartphones. The app lets BlackBerry smartphone users easily locate the nearest ATM no matter where in the world they are. ATM Hunter is available for free download on BlackBerry App World™ (

“MasterCard ATM Hunter helps make life easier not only for MasterCard cardholders, but for all consumers by letting you instantly search by your financial institution – or find those that are surcharge free – helping to avoid deposit or withdrawal fees and save time and money.”

“BlackBerry is the number one smartphone platform in the country and we are pleased to bring its users ATM Hunter,” said Cheryl Guerin, Senior Vice President, US and Digital Marketing, MasterCard Worldwide. “MasterCard ATM Hunter helps make life easier not only for MasterCard cardholders, but for all consumers by letting you instantly search by your financial institution – or find those that are surcharge free – helping to avoid deposit or withdrawal fees and save time and money.”

The MasterCard ATM Hunter utilizes the BlackBerry platform’s location awareness technologies to pinpoint the search and easily locate the nearest ATM, whether located in a bank, restaurant, airport, retail or convenience store…or elsewhere. Users without GPS-enabled BlackBerry smartphones, or who are out of GPS coverage, can still search for nearby ATMs using MasterCard’s database of ATM locations. Users can customize their hunt based on their banking needs, focusing on a financial institution if they need to make a deposit or wish to avoid ATM withdrawal fees. MasterCard ATM Hunter can also identify wheelchair accessible, drive-through, or 24-hour access ATMs and provide directions for BlackBerry smartphone users.

Powered by the MasterCard Location Services platform, the MasterCard ATM Hunter application for BlackBerry smartphones is the latest mobile delivery channel for ATM location information from MasterCard. Each year, more than four million consumers contact MasterCard via the Web, phone and wireless (SMS) to find ATM locations when they need them, wherever they are – quickly and easily.

About MasterCard Worldwide

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to Follow us on

US Internet Fraud Tops Half A Billion Dollars, Says FBI

eWeek Europe reports on the newly released IC3 report which revealed that online fraud in 2009 spiked to more than half a billion dollars, more than doubling the total losses of 2008.   There is a solution.  The world's only PCI 2.0 Certified PIN Entry Device designed specifically for online banking and eCommerce transactions.  I'm waiting on the US numbers, but the UK numbers are in:

UK "Card Not Present" Fraud Responsible for 86.6% of Total

Using simple deductive reasoning, we can logically conclude that almost 87% of the problem (Card Not Present Fraud) can be instantly eliminated by swiping vs. typing.   So, what are we waiting for?

A new report from the Internet Crime Complaint Centre found the amount of losses from cyber-crime doubled in 2009, with those between the ages of 30-49 hardest hit

Last year was a banner year for US, as well as UK cybercrime.

According to figures from the Internet Crime Complaint Centre, online fraud in 2009 cost the American public $559.7 million (£372 million) – more than double the $265 million (£176 million) stolen in 2008. These figures, according to the report, are based on crimes reported to law enforcement, meaning the actual amount could be much greater.

The Internet Crime Complaint Centre (IC3), a partnership between the FBI and the National White Collar Crime Centre (NW3C), released the numbers as part of its 2009 Annual Report about cyber-crime. The group received a total of 336,655 online crime complaints for the year, an increase of more than 20 percent from 2008. The complaints covered a lot of ground, including email scams that used the FBI’s name – the largest category of complaints IC3 received - as well as scams involving the non-delivery of merchandise and/or payment.

Late last year, IC3 released a warning from the FBI that malware and phishing schemes targeting online bankers had led to a significant increase in Automated Clearing House (ACH) fraud. The scams were claiming many small and midsize businesses among their victims, as well as court systems, schools and other public institutions, authorities said.

“The figures contained in this report indicate that criminals are continuing to take full advantage of the anonymity afforded them by the Internet,” NW3C director, Donald Brackman said in a statement. “They are also developing increasingly sophisticated means of defrauding unsuspecting consumers. Internet crime is evolving in ways we couldn’t have imagined just five years ago.”

Continue Reading at eWeek Europe 

Phishing Scam Targets Barclays Customers

An intensive phishing scam, with more than 180 messages sent in three minutes, aimed at Barclays customers.

A new phishing attempt has been launched using a misleading email in an attempt to trick potential victims towards a fake Barclays website. The spam message states that the bank has been acquired in the wake of the lending crisis.

The urgency of the matter is emphasised by the specification that “ We temporarily suspended access to your user”. As if that was not enough pressure, the recipients are urged to input their identification data, ”in order to avoid further actions”, which are assumed to be limiting their use of the online banking services even more.

“Banks do not send out this type of message, under any circumstances,” warns BitDefender UK managing director, Nick Billington. “Users should approach any unsolicited message seeking personal data with extreme scepticism. If in doubt simply delete the email,” adds Billington.

According to BitDefender the scam message contains a link which redirects the victims towards a fake website. This employs several PHP scripts designed for pilfering the sensitive data that the victims are asked to provide.

It also seems that fraudsters are getting greedier. After providing name and membership number, Barclays customers would then be taken to a page where they are asked to supply very sensitive information, such as their five digit passcode.

In this final step, a request for an apparently trivial piece of information slips in: the first two letters of the customer’s memorable word. This detail serves as a password recovery hint for online banking accounts.

“This last move should make the alarm bell ring quite loudly, but the most important thing to remember is not to click links in emails which require logins. It is good practice to always type website addresses in manually,” says Nick Billington.

To avoid becoming a victim of phishing attacks, follow the five common-sense tips below:

• Make sure you always activate or turn on your antiphishing or phishing filter, as well as any other security applications or suites before browsing to your e-banking account. Ideally, you should install, activate and update a reliable security solution.

• Make sure that the e-banking Web site uses SSL encryption (Secure Socket Layer) and security authentication methods – look for the “https” prefix and the locked padlock. If you are requested to accept a certificate for the session, check that the name on the certificate matches the name of the institution you wish to deal with and that the certificate is signed by a known Certificate Authority before accepting.

• Avoid using a non-secured computer (like a friend’s desktop or work colleague’s laptop). Still, if you are forced to do so, make sure you at least run BitDefender’s advanced scanning online tool, Quick Scan, before proceeding.

• Do not check your e-banking account from public computers connected to Internet (like those in a library or Internet CafĂ©).

• If you use a wireless connection, make sure that your connection is secured and encrypted and that you know and trust the owner of the access point; also, refrain from using an unsecured public wireless connection (like those in airports or hotels) when banking over the Internet. Still, if force to do so, use an on-screen (virtual keyboard) to enter sensitive data. Although not 100% bulletproof, this technique would guard your data from average keylogger and other sensitive data capture applications.

BitDefender will be participating at Infosecurity Europe 2010, the No. 1 industry event in Europe held on 27th – 29th April in its new venue Earl’s Court, London. The event provides an unrivalled free education programme, exhibitors showcasing new and emerging technologies and offering practical and professional expertise. For further information please visit

About BitDefender®

BitDefender is the creator of one of the industry’s fastest and most effective lines of internationally certified security software. Since its inception in 2001, BitDefender has continued to raise the bar and set new standards in proactive threat prevention, emerging as the industry’s anti-malware innovator. Every day, BitDefender protects tens of millions of home and corporate users across the globe — giving them the peace of mind of knowing that their digital experiences will be secure.

BitDefender solutions are distributed by a global network of value-added distribution and reseller partners in more than 100 countries worldwide. More information about BitDefender and its products are available at the company’s security solutions press room. Additionally, BitDefender’s provides background and the latest updates on security threats helping users stay informed in the everyday battle against malware.

For more information visit


Alan Wild

PR Manager BitDefender (UK and Ireland)

Tel: 0845 130 5096


Issued by:

Mike Ottewell

MJO PR for BitDefender UK

Tel: 01538 361217


Radiant Systems and RBS WorldPay Announce the Launch of Token Replacement

New payment processing security feature of Aloha POS software uses token replacement of credit card numbers to reduce burden of PCI compliance

ATLANTA--(BUSINESS WIRE)--Radiant Systems, Inc. (Nasdaq: RADS) today announced the release of Token Replacement, a new payment security feature that allocates a unique identifier, or token, to cardholder data at the RBS WorldPay host to prevent personal information from being stored on the point of sale.

“Token Replacement allows restaurant owners to place a greater focus on their operations by helping to ensure payment processing occurs in a secure environment,” said Jeff Hughes, vice president of hosted solutions at Radiant Systems. “Unlike other competitive alternatives, there are no additional transaction fees associated with our Token Replacement feature. This is one of many examples of how Radiant is striving to help our customers better manage data security.”

Token Replacement is designed as a point-of-sale feature that is tightly integrated into the latest version of the Aloha POS. When credit cards are swiped, data is first sent to the secure RBS WorldPay host, which then processes the payment and returns a unique token identifier to the POS for future reference. In addition, the seamless integration of Token Replacement with Aloha POS software increases speed of service by reducing processing time to let sales happen faster and maximize profits.

“As Payment Card Industry Data Security Standards (PCI DSS) continue to change and evolve, it is important for technology and payment processing companies to proactively provide a range of technical solutions to help merchants reduce risk,” said Ian Drysdale, senior vice president of market development at RBS WorldPay. “RBS WorldPay and Radiant developed Token Replacement in response to our clients’ desire for solutions that help reduce the burden that PCI compliance has placed upon many hospitality and retail merchants.”

About Radiant Systems, Inc.

Headquartered in Atlanta, Radiant Systems, Inc. (Nasdaq: RADS) is a global provider of innovative technology to the hospitality and retail industries. For more than two decades, Radiant's point of sale hardware and software solutions have helped to redefine the consumer experience in more than 100,000 restaurants, retail stores, stadiums, parks, arenas, cinemas, convenience stores, fuel centers and other customer-service venues. Radiant has offices in North America, Europe, Asia and Australia. For more information about Radiant Systems:

About RBS WorldPay™

RBS WorldPay, Inc. is a leading, single-source provider of electronic payment processing services – including credit, debit, EBT, checks, gift cards, e-commerce, customer loyalty cards, fleet cards, ATM processing and cash management services. RBS WorldPay is the U.S.-based payment processing division of the Royal Bank of Scotland Group plc. For more information, please visit

About The Royal Bank of Scotland Group (RBS)

The RBS Group is a financial services company providing a range of retail and corporate banking, financial markets, consumer finance, insurance, and wealth management services. The RBS Group operates in the Americas, Asia and the Middle East serving more than 40 million customers. For more information, please visit

Local Shoppers Look Online First

Local Shoppers Look Online First

Nearly all US Internet users use online media to research products and services in their area. Full Article

Smart Card, Smart Loyalty; sQuid Introduces Contactless Smart Card Loyalty Schemes

sQuid to provide bespoke smart card schemes that will enable businesses to cost-effectively offer loyalty rewards to their customers.

LONDON--(BUSINESS WIRE)--Following successful trials over the last twelve months, sQuid, the ePayments provider, announces the nationwide launch of its new contactless smartcard-based loyalty schemes. The bespoke schemes will enable businesses, whether large or small, to cost-effectively offer loyalty rewards to their customers.

With retailers increasingly seeking innovation in loyalty services, sQuid offers a technological breakthrough in smartcard loyalty and payment services, enabling even smaller stores to compete in the competitive market amongst bigger chains.

Through a scheme of their choice retailers can now appeal to new customers and reward their frequent customers. Loyalty schemes could include ‘cash back’ or a loyalty reward after a certain value of spend or number of transactions. A unique benefit of sQuid is that business owners can personalise the scheme to their needs with own-branded sQuid cards, and communicate with customers via a branded portal.

sQuid uses leading-edge contactless smart card technology, providing customers with an online account where they can view their transactions, as well as keep track of their loyalty funds. The funds on the card are protected with a central host system, far better than flimsy ‘stamp cards’ common with some loyalty schemes and which are open to abuse.

sQuid launched its loyalty scheme trial last year with Coffee Republic, led by then General Manager, Aruna Withane. Mr Withane has now joined sQuid to lead its loyalty programme, promoting it to a wider audience across the UK. “Working with sQuid early last year with Coffee Republic’s loyalty scheme, it became obvious to me that sQuid would dramatically change the way loyalty can work for smaller businesses, as well as larger chain stores. I wanted to be part of driving that change so joined sQuid to head up the loyalty proposition. To successfully compete in a rapidly changing environment, retailers must get closer to customers and embrace new technologies. sQuid not only reduces the cost of transactions, it delivers new revenue streams for businesses too,” he said.

sQuid is the next-generation smart card payments network for ‘the little things in life’. Its unique pre-pay system enables multi-functional smart cards, combining eMoney retail payments, ITSO (Transit) schemes, council smart card initiatives, plus retail loyalty programmes. Unlike banks’ credit and debit cards, sQuid offers universal access to smart card payments, becoming the leading next-generation payment platform.

Bank Freedom Enters Agreement with FIS to Process Transactions for its Prepaid Card Business

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Bank Freedom®, a wholly owned subsidiary of Prepaid Card Holdings, Inc. (Pink Sheets:PPDC) and a leading provider of financial services in the prepaid card industry to the underbanked consumer, today announced it has entered into an agreement with FIS™ (NYSE:FIS), for transaction processing of Bank Freedom’s prepaid card business. FIS is one of the world’s largest providers of banking and payments technology.

FIS will provide transaction processing and card issuer services for the Bank Freedom branded prepaid card programs and Bank Freedom’s multitude of complex co-branded prepaid card programs. Bank Freedom will also leverage the FIS platform to support its Prepaid Business Expense Card Program and its consumer General Spend Reloadable (GPR) Prepaid Cards, Payroll Cards, and Co-Branded Prepaid Card programs.

Rick Galasieski, senior vice president for Bank Freedom stated, “In order to expand our business and grow our prepaid card programs, we knew we needed to move forward with a stable, secure, and reliable processor whose scalability was virtually limitless. Our co-branding partners, including a 1.6 million member union, put their trusted brand names on the line every day, so our business must be anchored to a reliable processor. After a tremendous amount of due diligence, we have determined that the dependability, quality service and robust functionality FIS provides make them the perfect fit for our cardholders and co-brand partners for the future.”

Ralph Calvano, senior vice president and general manager for FIS Prepaid Solutions stated, “We are very excited about our new partnership with Bank Freedom. Their proven ability as experts in marketing and in product distribution to the financially underserved channel, positions Bank Freedom extremely well to continue to develop large scale programs in key prepaid vertical markets.”

About FIS

FIS delivers banking and payments technologies to more than 14,000 financial institutions and businesses in over 100 countries worldwide. FIS provides financial institution core processing, and card issuer and transaction processing services, including the NYCE® Network. FIS maintains processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10. FIS is a member of Standard and Poor's (S&P) 500® Index and consistently holds a leading ranking in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 on a global basis. FIS is listed on the New York Stock Exchange under the “FIS” ticker symbol. For more information about FIS see

About Bank Freedom

Bank Freedom®, a wholly owned subsidiary of Prepaid Card Holdings, Inc. is a leading provider of financial services in the prepaid card industry. The company offers under its Bank Freedom brand, prepaid debit cards to America’s estimated 60 million underbanked citizens. The company also provides co-branding program management services and is the program manager for the AFSCME® Advantage Prepaid Debit card, a 1.6 million member union. In addition to the underbanked consumer demographic; small, medium, and large businesses have found a much needed product with the company’s Prepaid Business Expense Card Program. With the diminishing credit card markets, companies need a new way to fund employee’s expenses other than through traditional credit cards or cash reimbursements. For more information about Bank Freedom visit

About Prepaid Card Holdings

Prepaid Card Holdings, Inc. through its wholly owned subsidiaries provides much needed financial services to consumers and businesses that are underserved by traditional banking relationships. Under its Bank Freedom® brand prepaid debit cards and a multitude of co-branded prepaid debit card programs, Prepaid Card Holdings is committed to delivering and managing robust and complex prepaid card programs to meet and exceed the needs of the estimated 60 million underbanked consumers throughout the United States. The Bank Freedom Prepaid Business Expense Card Program provides small, medium, and large sized businesses with a manageable solution to fund and track employee’s expenses in real-time and eliminates the need for traditional credit card or cash expense reimbursements. For more information about Prepaid Card Holdings, Inc. visit

Visa Previews RightCliq at Investor Conference Visa Previews Online Shopping Tool at Investor Conference

SAN FRANCISCO--(BUSINESS WIRE)--Visa Inc. (NYSE: V) today announced that, in concert with U.S. financial institution clients, it will soon introduce its new online shopping tool, “Rightcliq™ by Visa.” From comparison shopping, to delivering special merchant offers, to managing payment options, to tracking the delivery of purchases, Rightcliq will offer consumers a simpler and smarter way to shop online. Visa is developing the new service to deliver value beyond the payment transaction by enhancing and personalizing consumers’ online shopping experiences.

The company previewed Rightcliq at its investor conference in San Francisco Thursday. The anticipated Spring launch follows several months of live market tests. Following its public release, Visa intends to continue enhancing Rightcliq, including features which may be based on ongoing user feedback.

Rightcliq will combine Wishspace™ – a central location for storing items that a consumer is interested in purchasing – with a “social shopping” experience that will allow consumers to solicit opinions of friends and streamlined checkout. Currently planned functions center on key shopping activities:

Browsing, Comparing and Saving

Consumers will be able to add products to their Wishspace as they search the Web and comparison shop, providing them with a single place to store, organize and access their shopping research.

Special discount offers from a variety of merchants will be available through Rightcliq. In addition to redeeming offers, consumers will be able to easily share offers with their friends through a simple email function or by posting offers on their personal Facebook pages.

“Visa has been making ecommerce safe, reliable and as convenient as possible since the advent of online shopping – Rightcliq extends that legacy,” said Gerry Sweeney, global head of e-commerce & authentication, Visa Inc. “This is about more than payment. Working with our financial institution clients, we’re challenging ourselves to develop new services that enhance consumers’ online shopping experiences. Today Visa is synonymous with a better way to pay. Rightcliq is a key step toward becoming the better way to shop.”

Buying and Managing Payments

Users will be able to initiate purchases from Rightcliq or launch Rightcliq as they are browsing any merchant website when they’re ready to buy. Rightcliq will automatically fill in purchase details including a shipping address and payment account number. Its account management function will let consumers safely store multiple payment accounts and easily select the payment account they prefer. Consumers will also be able to store and organize online merchant discount codes/offers in Rightcliq for easy redemption at checkout. In addition to storing Visa credit, debit and prepaid accounts, consumers will be able to store other payment options, including competing brands, giving them maximum choice and control.

Tracking Delivery

Rightcliq will enable consumers to track their purchases in one convenient location. This removes the hassle of remembering tracking numbers, digging through confirmation emails, or having to double-check delivery dates. The information will all be stored in Rightcliq, giving consumers more control over their online shopping experience.  

About Visa Inc.

Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world, and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit

Chase Paymentech and Kount Join Forces to Combat Fraud for eCommerce Merchants

Industry leaders to launch powerful fraud solution to reduce merchant costs and risk associated with card-not-present fraud

DALLAS & BOISE, Idaho, Mar 15, 2010 (BUSINESS WIRE) -- Chase Paymentech, a leading merchant acquirer and payment processor, and Kount, a Boise, Idaho-based company that specializes in card-not-present (CNP) fraud prevention, today announced an agreement to offer a comprehensive suite of fraud detection, management and prevention tools for merchants.

Chase Paymentech processes a significant share of global CNP payments, in a wide variety of payment methods, and authorizes transactions in more than 130 currencies. Its expertise and fault tolerant infrastructure, paired with Kount's advanced fraud prevention technology, will introduce a new class of fraud management tools that will significantly improve the reliability and security of card-not-present transactions.

The ability to provide merchants with a real-time fraud score at the time of bank authorization will deliver unparalleled value. This benefit coupled with dynamic order linking, device fingerprinting, proxy piercing and other Kount capabilities will allow merchants to accurately detect and reject a significantly higher percentage of fraudulent orders, saving merchants costly chargeback fees and fines associated with fraud.

"This alliance underscores our commitment to provide merchants with the tools they need to significantly improve and sustain financial performance. Our partnership with Kount offers merchants the first truly integrated fraud-monitoring tool at the point of transaction authorization. This is a significant step toward a global effort to reduce CNP fraud," said Chase Paymentech president Mike Duffy.

"The result of our partnership with Chase Paymentech will be a new class of tools and utilities for controlling card-not-present fraud," said Kount CEO Brad Wiskirchen. "The comprehensive suite of products will give merchants a new level of certainty that current and future forms of fraud can be controlled."

About Chase Paymentech

Chase Paymentech, a business unit of JPMorgan Chase is a global leader in payment processing and merchant acquiring, capable of authorizing transactions in more than 130 currencies. The company's proprietary platforms provide access to a wide variety of payment methods, such as credit cards, debit cards, prepaid stored value cards and electronic check processing. Offering secure payment solutions, improving cash-flow management, mitigating risk and accelerating funding -- Chase Paymentech's consultative approach helps today's small and emerging businesses become tomorrow's industry leaders. On the Internet or at the point of sale, Chase Paymentech's unique combination of outstanding service, innovative solutions and financial strength offers solid benefits to companies both large and small. More information can be found at

About Kount

Kount(R) is the most advanced fraud-fighting technology available today. Developed with online and catalog merchant needs in mind, Kount defends against both traditional and emerging fraud threats. Kount defeats botnets and other organized crime using a formidable array of tools including two patented technologies -- device fingerprinting, and Proxy Piercer(R) -- along with Dynamic Scoring(TM), Geolocation techniques, and real-time data streams from websites all across the globe.

Kount provides merchants with maximum risk management control and flexibility, while automating costly manual review processes to improve the bottom line. For more information about Kount, please visit

SOURCE: Chase Paymentech and Kount

Red McCombs Leads MPOWER Ventures Fund II

Billionaire Entrepreneur Makes Multi-Year, Multi-Million Dollar Commitment to Firm's Mission to Empower the World's Unbanked

AUSTIN, Texas, March 15 /PRNewswire/ -- Renowned investor and entrepreneur Red McCombs joins MPOWER Ventures founding partners Roy Sosa and Bertrand Sosa as the lead investor in MPOWER Ventures II, the firm announced today. MPOWER Ventures II will fuel country-by-country growth in the regions where MPOWER Ventures' portfolio companies operate and have successfully built and deployed products and programs. It will also support future investment opportunities that fit MPOWER Ventures' mission and focus.

MPOWER Ventures directs private investment to companies whose innovations extend the reach and expand the range of financial services available to underserved consumers. Committed to promoting financial inclusion across the spectrum of financial needs and around the world, MPOWER Ventures has assembled a portfolio of companies spanning international payments, mobile payments, retail financial services, and asset-building and investment products with operations in North America, Latin America, Europe and Asia-Pacific.

"Global markets have failed to provide financial services to billions around the world, a problem that has attracted the attention and considerable resources of respected organizations like the Gates Foundation," said Roy Sosa, founding partner of MPOWER Ventures. "Those efforts must be matched by private investment through partners like Red McCombs who can dedicate the resources required to drive rapid innovation of market-based solutions, solutions that can profitably and sustainably deliver safe, affordable tools to those who live beyond their reach today."

Billy Joe "Red" McCombs has led a remarkable career as a successful investor and entrepreneur with extensive business interests, ranging from automobile dealerships, communications and professional sports to oil, ranching and real estate. He founded the Red McCombs Automotive Group, and he co-founded Clear Channel Communications with Lowry Mays. He also previously owned the Minnesota Vikings, the San Antonio Spurs and the Denver Nuggets. His accomplishments have earned many honors and accolades, including NFL Owner of the Year, San Antonio Business Hall of Fame, Texas Business Hall of Fame, National College Football Hall of Fame, National Auto Dealers Hall of Fame, and he holds honorary doctorates from Southwestern University, The University of Texas at San Antonio and Texas Lutheran University. One of Forbes Magazine's 400 Richest Americans in 2009, he is also a prominent philanthropist and the namesake of the University of Texas at Austin's McCombs School of Business.

"This is an exceptional group of companies and entrepreneurs who have the passion and the audacity to tackle a major global financial challenge in a tough economic climate and have already made significant inroads in markets around the world," said Red McCombs. "I'm proud to partner in this mission and look forward to being part of what they accomplish in the coming years."

Based in Austin, Texas, MPOWER Ventures was established in 2006 by brothers Roy Sosa and Bertrand Sosa, accomplished entrepreneurs who pioneered the multi-billion dollar prepaid debit market as co-founders of NetSpend Corporation. The firm's current investment portfolio includes:
  • MPOWER Mobile – A mobile software company specializing in the deployment of mobile-phone-based financial services and payments solutions accessible from any mobile handset via Short Message Service (SMS) and via mobile applications for smart phones;

  • Rev Worldwide – A global payment company whose proprietary processing platform and growing distribution network allow financial institutions, telecommunication companies and merchants to deliver new payment solutions to underserved customers anywhere in the world;

  • Gratio Capital – A New York City-based asset management firm creating the world's first investment products for the underserved; and

  • Mango Financial – An innovative consumer financial services company that empowers underserved U.S. customers to achieve their financial goals through a world-class service experience and a suite of financial products designed to achieve a level of integration unmatched in the industry today.

About MPOWER Ventures

Based in Austin, Texas, MPOWER Ventures ( is a socially committed venture capital firm dedicated to identifying and investing in early-stage businesses that create products and services for underserved populations. Grounded by the beliefs that private investment can solve persistent social problems and market-based solutions can realize change on the broadest scale, MPOWER Ventures is building a portfolio of companies whose products and services will foster empowerment, health and prosperity in underserved markets. MPOWER Ventures currently focuses its investment portfolio in financial services with investments in international payments, mobile payments, retail financial services and asset-building and investment products.


Online Consumer Fraud Nets Hackers $120 Million in Three Months

March 14, 2010. By LAS Newswire

San Francisco, CA: According to the US Federal Deposit Insurance Corporation (FDIC), online banking scams and online consumer fraud cost companies and individuals more than $120 million during the third quarter of 2009.

Online Consumer Fraud Nets Hackers 0 Million in Three MonthsFDIC examiner David Nelson claims that online banking fraud, which typically involves the electronic transfer of funds, has steadily risen since 2007, as the malware continues to grow more common and sophisticated.

Nelson says that even though banks have increased security on their websites, customers may have become complacent with the authentication process.

"Online banking customers are getting too reliant on authentication and on practicing layers of controls," he told BusinessWeek. "Commercial deposit accounts do not receive the reimbursement protection that consumer accounts have, so a lot of small businesses and nonprofits have suffered some relatively large losses."

Nelson says hackers typically target higher fun accounts and small businesses whose security controls might not be as stringent as a major corporation.

Avivah Litan, a financial analyst with Gartner, predicts that the problem will grow worse in the coming years, as password-stealing botnet programs are also on the rise.
Editor's Note:  May I suggest eliminating passwords, thus the threat from "password stealing" trojans.  Swipe your Card, Enter your PIN the same way you authentice yourself at an ATM and you're are all good. Until then, Avivah Litan is absolutely correct.  The problem will grow worse. 

TJX Hacker Gets Four Years

TJX Hacking Conspirator Gets 4 Years

Humza Zaman, a co-conspirator in the hack of TJX and other companies, was sentenced Thursday in Boston to 46 months in prison and fined $75,000 for his role in the conspiracy. The sentence matches what prosecutors were seeking.

Zaman, a 33-year-old former network security manager at Barclays Bank, was charged with laundering between $600,000 and $800,000 for hacker Albert Gonzalez, who is currently awaiting sentencing on charges that he and others hacked into TJX, Office Max, Heartland Payment Systems and numerous other companies to steal data on more than 100 million credit and debit card accounts.

Zaman pleaded guilty in April to one count of conspiracy.

His sentence includes three years of supervised release with the condition that Zaman must disclose his conviction to any future employer. Upon release, Zaman will not be barred from using computers.

Zaman is the second conspirator in the TJX case to be charged. Former Morgan Stanley coder, Stephen Watt, was sentenced in December to two years in prison for his role in the TJX case, which involved supplying Gonzalez with a sniffer program used to siphon card data from the TJX network.

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