identityTruth® Announces Agreement With Trend Micro to Extend Identity Protection For Their Retail Customers

Together, the two companies will deliver extra layers of security that includes comprehensive identity monitoring for consumers.

WALTHAM, Mass.--(BUSINESS WIRE)--IdentityTruth, the leading provider of a new breed of identity theft monitoring services to help consumers avoid identity theft and safeguard their privacy and identity, today announced the selection of its identity monitoring services by Trend Micro, a global leader in Internet content security. This strategic relationship will enable both companies to offer a PC security product that includes comprehensive identity monitoring beyond basic credit monitoring. The package will also include lost or stolen PC recovery services provided by Absolute® software. This unique, comprehensive consumer bundle will be available on select retail shelves in May 2010.

“Digital financial transactions are no longer limited to the personal desktop computer. Today’s consumers use laptops and mobile communication devices for online banking and shopping, to store financial documents, tax returns and more”

“Digital financial transactions are no longer limited to the personal desktop computer. Today’s consumers use laptops and mobile communication devices for online banking and shopping, to store financial documents, tax returns and more,” said Steven Domenikos, CEO of identityTruth “Identity theft is burdensome and time-consuming, which is why we’ve teamed with a company like Trend Micro that shares the same vision of protecting consumers against identity crimes.”

“Trend Micro’s mission is to ensure our customers personal online freedom and peace-of-mind,” said Tobias Lee, vice president of marketing, consumer and small business, Trend Micro. “And as security risks extend beyond the physical boundaries of a desktop computer into the physical world, we’re pleased to partner with identityTruth to extend more layers of security for our customers.”

According to FTC, Identity theft is America's fastest-growing crime. More than 70 million identities will be lost this year alone with as many as 4 million social security numbers being stolen. Simple credit monitoring is not enough - only 15% of identity theft is credit-related (85% of identity fraud happens “outside” the credit system). IdentityTruth has discovered suspicious “identity events” for more than 1 out of 4 consumers who subscribe to its service.

IdentityTruth’s unique Faster than Fraud™ technology combines data from many different sources--going beyond simple credit-based protection to deliver a more complete picture of an individual’s identity risk.

The service continuously combines and analyzes any and all information that is discovered specific to an individual to detect, predict, and alert consumers to suspicious activities, identifying potential fraud patterns before fraud happens and providing concrete next-steps to resolve a problem that may arise.

About IdentityTruth

IdentityTruth is the leading provider of a new breed of service to help consumers safeguard their Privacy and Identity. IdentityTruth’s proprietary technology provides subscribers with advance notice of potential identity fraud so they can take better control to stop it before it becomes costly. IdentityTruth not only detects--but can actually predict--possible problems, and that is what makes IdentityTruth Faster than Fraud™. IdentityTruth is a privately-held, VC- funded company headquartered in Waltham, Massachusetts. Investors include Argonaut Ventures and Stata Venture Partners. For more information, go to www.IdentityTruth.com or call 781-684-1300.

About Trend Micro:

Trend Micro Incorporated, a global leader in Internet content security, focuses on securing the exchange of digital information for businesses and consumers. A pioneer and industry vanguard, Trend Micro is advancing integrated threat management technology to protect operational continuity, personal information, and property from malware, spam, data leaks and the newest Web threats. Visit TrendWatch at www.trendmicro.com/go/trendwatch to learn more about the latest threats. Trend Micro’s flexible solutions, available in multiple form factors, are supported 24/7 by threat intelligence experts around the globe. Many of these solutions are powered by the Trend Micro™ Smart Protection Network™ infrastructure, a next-generation cloud-client innovation that combines sophisticated cloud-based reputation technology, feedback loops, and the expertise of TrendLabs^SM researchers to deliver real-time protection from emerging threats. A transnational company, with headquarters in Tokyo, Trend Micro’s trusted security solutions are sold through its business partners worldwide. Please visit www.trendmicro.com.

Contacts

Kel & Partners

Meagan J. Ellis, 617-904-9393, ext. 128

meagan@kelandpartners.com

Permalink: http://www.businesswire.com/news/home/20100517006581/en/identityTruth%C2%AE-Announces-Agreement-Trend-Micro-Extend-Identity

identityTruth® Announces Agreement With Trend Micro to Extend Identity Protection For Their Retail Customers

Together, the two companies will deliver extra layers of security that includes comprehensive identity monitoring for consumers.

WALTHAM, Mass.--(BUSINESS WIRE)--IdentityTruth, the leading provider of a new breed of identity theft monitoring services to help consumers avoid identity theft and safeguard their privacy and identity, today announced the selection of its identity monitoring services by Trend Micro, a global leader in Internet content security. This strategic relationship will enable both companies to offer a PC security product that includes comprehensive identity monitoring beyond basic credit monitoring. The package will also include lost or stolen PC recovery services provided by Absolute® software. This unique, comprehensive consumer bundle will be available on select retail shelves in May 2010.

“Digital financial transactions are no longer limited to the personal desktop computer. Today’s consumers use laptops and mobile communication devices for online banking and shopping, to store financial documents, tax returns and more”

“Digital financial transactions are no longer limited to the personal desktop computer. Today’s consumers use laptops and mobile communication devices for online banking and shopping, to store financial documents, tax returns and more,” said Steven Domenikos, CEO of identityTruth “Identity theft is burdensome and time-consuming, which is why we’ve teamed with a company like Trend Micro that shares the same vision of protecting consumers against identity crimes.”

“Trend Micro’s mission is to ensure our customers personal online freedom and peace-of-mind,” said Tobias Lee, vice president of marketing, consumer and small business, Trend Micro. “And as security risks extend beyond the physical boundaries of a desktop computer into the physical world, we’re pleased to partner with identityTruth to extend more layers of security for our customers.”

According to FTC, Identity theft is America's fastest-growing crime. More than 70 million identities will be lost this year alone with as many as 4 million social security numbers being stolen. Simple credit monitoring is not enough - only 15% of identity theft is credit-related (85% of identity fraud happens “outside” the credit system). IdentityTruth has discovered suspicious “identity events” for more than 1 out of 4 consumers who subscribe to its service.

IdentityTruth’s unique Faster than Fraud™ technology combines data from many different sources--going beyond simple credit-based protection to deliver a more complete picture of an individual’s identity risk.

The service continuously combines and analyzes any and all information that is discovered specific to an individual to detect, predict, and alert consumers to suspicious activities, identifying potential fraud patterns before fraud happens and providing concrete next-steps to resolve a problem that may arise.

About IdentityTruth

IdentityTruth is the leading provider of a new breed of service to help consumers safeguard their Privacy and Identity. IdentityTruth’s proprietary technology provides subscribers with advance notice of potential identity fraud so they can take better control to stop it before it becomes costly. IdentityTruth not only detects--but can actually predict--possible problems, and that is what makes IdentityTruth Faster than Fraud™. IdentityTruth is a privately-held, VC- funded company headquartered in Waltham, Massachusetts. Investors include Argonaut Ventures and Stata Venture Partners. For more information, go to www.IdentityTruth.com or call 781-684-1300.

About Trend Micro:

Trend Micro Incorporated, a global leader in Internet content security, focuses on securing the exchange of digital information for businesses and consumers. A pioneer and industry vanguard, Trend Micro is advancing integrated threat management technology to protect operational continuity, personal information, and property from malware, spam, data leaks and the newest Web threats. Visit TrendWatch at www.trendmicro.com/go/trendwatch to learn more about the latest threats. Trend Micro’s flexible solutions, available in multiple form factors, are supported 24/7 by threat intelligence experts around the globe. Many of these solutions are powered by the Trend Micro™ Smart Protection Network™ infrastructure, a next-generation cloud-client innovation that combines sophisticated cloud-based reputation technology, feedback loops, and the expertise of TrendLabs^SM researchers to deliver real-time protection from emerging threats. A transnational company, with headquarters in Tokyo, Trend Micro’s trusted security solutions are sold through its business partners worldwide. Please visit www.trendmicro.com.

Contacts

Kel & Partners

Meagan J. Ellis, 617-904-9393, ext. 128

meagan@kelandpartners.com

Permalink: http://www.businesswire.com/news/home/20100517006581/en/identityTruth%C2%AE-Announces-Agreement-Trend-Micro-Extend-Identity

Judge Rejects Arbitration for Online Banking Security Case

Consumers Need "More" than "Reasonable" Security

According to Bank Info Security, "The judge in the PlainsCapital Bank case struck down the bank's requests to waive a jury trial and to move the case to arbitration."  

Bank vs. Business: Judge Rejects Motions

No Arbitration to Settle Question of 'Reasonable Security'

by Linda McGlasson

Judge Amos Mazzant, U.S. Magistrate Judge in the U.S. District Court, Eastern District of Texas, says in his one-page order that he is denying the motion to strike the jury, calling the request "premature." Judge Mazzant also found that the bank's motion to compel arbitration as an alternative to the motion to strike jury demand "is not appropriate."

This case began when PlainsCapital, a $4.4 billion bank headquartered in Dallas, filed suit against Hillary Machinery Inc., following a series of incidents that began last November, when cyber thieves made a series of ACH and wire transactions that totaled $801,495 from Hillary's bank account.

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Judge Rejects Arbitration for Online Banking Security Case

Consumers Need "More" than "Reasonable" Security

According to Bank Info Security, "The judge in the PlainsCapital Bank case struck down the bank's requests to waive a jury trial and to move the case to arbitration."  

Bank vs. Business: Judge Rejects Motions

No Arbitration to Settle Question of 'Reasonable Security'

by Linda McGlasson

Judge Amos Mazzant, U.S. Magistrate Judge in the U.S. District Court, Eastern District of Texas, says in his one-page order that he is denying the motion to strike the jury, calling the request "premature." Judge Mazzant also found that the bank's motion to compel arbitration as an alternative to the motion to strike jury demand "is not appropriate."

This case began when PlainsCapital, a $4.4 billion bank headquartered in Dallas, filed suit against Hillary Machinery Inc., following a series of incidents that began last November, when cyber thieves made a series of ACH and wire transactions that totaled $801,495 from Hillary's bank account.

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• Texas Bank Sues Victim of Cybertheft Incident (pindebit.blogspot.com)


• Customer Sues Bank After Phishing Attack, MI-Based Business Lost $550,000 in Breach (pindebit.blogspot.com)

Verifone Expands into South Korea

VeriFone Expands into South Korea with Orange Logic Acquisition

SAN JOSE, Calif.--(BUSINESS WIRE)--VeriFone Holdings, Inc. (NYSE: PAY) today announced that it is acquiring the assets of Orange Logic Ltd., a South Korean payment systems provider. Financial terms were not disclosed.

With the acquisition, VeriFone gains the people and infrastructure to introduce its secure electronic payment product line into the Republic of Korea, and an existing domestic product line and customer base. Although South Korea is second only to the U.S. market with more than 2.5 million deployed electronic payment systems, only 10%-15% of those meet government security requirements for compliance with the international EMV standard.

VeriFone CEO Douglas G. Bergeron said: "We see great potential in the growing South Korean market and are optimistic about the high growth potential for the transition to mandated EMV solutions. In addition to generating immediate revenue from Orange Logic’s certified and customized products, VeriFone is acquiring a strong foundation of development, operations, service, and sales resources on which to expand our global product line into this large market.”

Orange Logic was founded in 2004 and has primarily been supplying electronic payment devices to distinguished customers in the South Korean retail and banking segments.

Effective immediately, Orange Logic will operate as VeriFone Korea and will continue to manufacture the existing Orange Logic product family. VeriFone is now the only global payments solutions provider with a physical presence in South Korea. The acquisition is expected to expedite the certification and availability in South Korea of VeriFone’s recently announced VX Evolution systems, which will provide Korean processors with greater options to meet EMV mandates.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Holdings, Inc.

This press release includes certain forward-looking statements related to VeriFone Holdings, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on VeriFone management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of VeriFone Holdings, Inc. These risks and uncertainties include: the successful integration of Orange Logic and expansion of VeriFone products into the Republic of Korea, Korean governmental enforcement of the mandate to transition to EMV solutions, customers’ acceptance and adoption of VeriFone solutions and other new product and service offerings, our ability to protect against fraud, the status of our relationship with and condition of third parties upon whom we rely in the conduct of our business, our dependence on a limited number of customers, uncertainties related to the conduct of our business internationally, our dependence on a limited number of key employees, short product cycles, rapidly changing technologies and maintaining competitive leadership position with respect to our payment solution offerings. For a further list and description of such risks and uncertainties, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. VeriFone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

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.

Contacts

Investors:

VeriFone, Inc.

William Nettles, 408-232-7979

Vice President, Corporate Development & IR

ir@verifone.com

or

Editorial:

VeriFone Media Relations

Pete Bartolik, 508-283-4112

pete_bartolik@verifone.com

Permalink: http://www.businesswire.com/news/home/20100517005764/en/VeriFone-Expands-South-Korea-Orange-Logic-Acquisition

Verifone Expands into South Korea

VeriFone Expands into South Korea with Orange Logic Acquisition

SAN JOSE, Calif.--(BUSINESS WIRE)--VeriFone Holdings, Inc. (NYSE: PAY) today announced that it is acquiring the assets of Orange Logic Ltd., a South Korean payment systems provider. Financial terms were not disclosed.

With the acquisition, VeriFone gains the people and infrastructure to introduce its secure electronic payment product line into the Republic of Korea, and an existing domestic product line and customer base. Although South Korea is second only to the U.S. market with more than 2.5 million deployed electronic payment systems, only 10%-15% of those meet government security requirements for compliance with the international EMV standard.

VeriFone CEO Douglas G. Bergeron said: "We see great potential in the growing South Korean market and are optimistic about the high growth potential for the transition to mandated EMV solutions. In addition to generating immediate revenue from Orange Logic’s certified and customized products, VeriFone is acquiring a strong foundation of development, operations, service, and sales resources on which to expand our global product line into this large market.”

Orange Logic was founded in 2004 and has primarily been supplying electronic payment devices to distinguished customers in the South Korean retail and banking segments.

Effective immediately, Orange Logic will operate as VeriFone Korea and will continue to manufacture the existing Orange Logic product family. VeriFone is now the only global payments solutions provider with a physical presence in South Korea. The acquisition is expected to expedite the certification and availability in South Korea of VeriFone’s recently announced VX Evolution systems, which will provide Korean processors with greater options to meet EMV mandates.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Holdings, Inc.

This press release includes certain forward-looking statements related to VeriFone Holdings, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on VeriFone management's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of VeriFone Holdings, Inc. These risks and uncertainties include: the successful integration of Orange Logic and expansion of VeriFone products into the Republic of Korea, Korean governmental enforcement of the mandate to transition to EMV solutions, customers’ acceptance and adoption of VeriFone solutions and other new product and service offerings, our ability to protect against fraud, the status of our relationship with and condition of third parties upon whom we rely in the conduct of our business, our dependence on a limited number of customers, uncertainties related to the conduct of our business internationally, our dependence on a limited number of key employees, short product cycles, rapidly changing technologies and maintaining competitive leadership position with respect to our payment solution offerings. For a further list and description of such risks and uncertainties, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. VeriFone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

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.

Contacts

Investors:

VeriFone, Inc.

William Nettles, 408-232-7979

Vice President, Corporate Development & IR

ir@verifone.com

or

Editorial:

VeriFone Media Relations

Pete Bartolik, 508-283-4112

pete_bartolik@verifone.com

Permalink: http://www.businesswire.com/news/home/20100517005764/en/VeriFone-Expands-South-Korea-Orange-Logic-Acquisition

Retailers Poised for Victory in Debit Card Fee Fight

Boston : MA : USA | SOURCE: CNN

Industry kingpins Visa and MasterCard collected interchange fees of at least $35 billion in 2007, according to government estimates. The new Senate amendment adds two major restrictions to the rules on interchange fees. FULL ARTICLE AT CNN

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Retailers Poised for Victory in Debit Card Fee Fight

Boston : MA : USA | SOURCE: CNN

Industry kingpins Visa and MasterCard collected interchange fees of at least $35 billion in 2007, according to government estimates. The new Senate amendment adds two major restrictions to the rules on interchange fees. FULL ARTICLE AT CNN

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Lost Battle, Must Win War - MasterCard

(Reuters) - Credit card networks MasterCard Inc (MA.N) and Visa Inc (V.N) lost "a big battle" for future revenues when the U.S. Senate voted on Thursday to restrict debit card fees, according to MasterCard President for U.S. Markets Chris McWilton.

"Now we've got to make sure we win the war," McWilton said in an interview on Sunday. "We lost this battle. It's a big battle. But the war wages on and we'll be working really hard over the next week or so to stop this."

Continue Reading

Lost Battle, Must Win War - MasterCard

(Reuters) - Credit card networks MasterCard Inc (MA.N) and Visa Inc (V.N) lost "a big battle" for future revenues when the U.S. Senate voted on Thursday to restrict debit card fees, according to MasterCard President for U.S. Markets Chris McWilton.

"Now we've got to make sure we win the war," McWilton said in an interview on Sunday. "We lost this battle. It's a big battle. But the war wages on and we'll be working really hard over the next week or so to stop this."

Continue Reading

Moneydirect Launches Virtual Credit Card Payment Solution

SOUTHLAKE, Texas--(BUSINESS WIRE)--Moneydirect, a multi-channel payment processing solution for the global travel and tourism industry, is rolling out a new payment solution using virtual credit cards to simplify the payment and reconciliation process for travel providers.

“They receive payment right after a guest receives service, reduce labor and material costs for invoice production, and cut down on payment disputes.”

The virtual credit card is processed like a regular credit card and is available in several different currencies. It can reduce travel suppliers’ invoice processing costs by more than 90 percent and improves their cash flow through quicker payment. It also offers customers a highly secured environment with built-in limitation settings for usage dates and payment amounts, as well a providing detailed reconciliation information.

The roll out of the virtual credit card follows Moneydirect’s recent software developments, including enhancements to its cross-border, multi-currency payment and collection capabilities.

“Since entering the market in 2008, we have grown to more than 2,000 customers in North America, spurred by the need for travel companies to adopt online payment solutions as a way of reducing their costs,” Moneydirect CEO Hans Olav Hagen said. “We have been particularly successful with solutions for mid-size companies, and will extend our payment solutions across the travel industry. We anticipate rapidly increasing transaction volume this year as we add new services and expand our customer base.”

A primary application for the virtual credit is settlement of hotel transactions. For example, a travel supplier with yearly volume of $50 million paid to suppliers would typically incur costs of more than $225,000 for processing and reconciling transactions. These costs include labor, along with associated fees for wire transfers, currency conversion fees and lost interest on the float. The virtual credit card’s simplified electronic reconciliation and elimination or reduction of many fees can save users more than $200,000.

In addition, the virtual credit card captures and tracks important booking details, including the reservation code, requester identifier, traveller name, hotel chain code/name, room type, rate code, hotel confirmation number and check-in/check-out dates.

“Virtual credit cards not only benefit the agencies booking travel, but many suppliers have been pushing for this solution because it streamlines their transactions with credit card settlement,” explained Hagen. “They receive payment right after a guest receives service, reduce labor and material costs for invoice production, and cut down on payment disputes.”

The virtual credit cards are part of the Moneydirect Supplier Payments solution, one of six main services the company offers. The others are:

• Moneydirect Easy Collect, which automates collection of funds from travel industry partners.


• Moneydirect Central Settlement, which automates collections and disbursements of funds in a single process.


• Moneydirect Traveler Payments, which enables the processing of credit cards on a secure platform.


• Moneydirect Direct Billing, which simplifies the billing and collection of corporate direct bill transactions.


• Moneydirect Commissions, which allows for efficient commission payment processing globally in a transparent bank-to-bank platform.

These enhanced payment solutions are being supported by the installation of a new technology platform at Moneydirect’s global data center in Australia. The new hardware, which includes state-of-the-art blade servers, is already delivering faster processing and enhanced security for customers.

“We’ve seen growth in travel transactions during the first quarter and anticipate better overall industry performance during 2010,” said Hagen. “As a market leader, Moneydirect is well-positioned to contribute to the success of our travel partners by providing them with creative, cost-effective payment solutions.”

About Moneydirect

Moneydirect, an Amadeus and Sabre joint venture, is the leading provider of multi-channel payment solutions for the global travel industry. More than 11,000 customers currently trust Moneydirect to securely manage more than US$3 billion annually in global travel payments on its best-in-class processing platform. More information is available at www.moneydirect.com.

Contacts

Moneydirect

Eduardo Vaena, +1 682-605-3332

Vice President, Global Marketing

eduardo.vaena@moneydirect.com

or

K Squared Communications on behalf of Moneydirect

Thomas Stack, +1 847-471-4213

tstack@ksqrd.com

Permalink: http://www.businesswire.com/news/home/20100517005466/en/Moneydirect-Launches-Virtual-Credit-Card-Payment-Solution

Moneydirect Launches Virtual Credit Card Payment Solution

SOUTHLAKE, Texas--(BUSINESS WIRE)--Moneydirect, a multi-channel payment processing solution for the global travel and tourism industry, is rolling out a new payment solution using virtual credit cards to simplify the payment and reconciliation process for travel providers.

“They receive payment right after a guest receives service, reduce labor and material costs for invoice production, and cut down on payment disputes.”

The virtual credit card is processed like a regular credit card and is available in several different currencies. It can reduce travel suppliers’ invoice processing costs by more than 90 percent and improves their cash flow through quicker payment. It also offers customers a highly secured environment with built-in limitation settings for usage dates and payment amounts, as well a providing detailed reconciliation information.

The roll out of the virtual credit card follows Moneydirect’s recent software developments, including enhancements to its cross-border, multi-currency payment and collection capabilities.

“Since entering the market in 2008, we have grown to more than 2,000 customers in North America, spurred by the need for travel companies to adopt online payment solutions as a way of reducing their costs,” Moneydirect CEO Hans Olav Hagen said. “We have been particularly successful with solutions for mid-size companies, and will extend our payment solutions across the travel industry. We anticipate rapidly increasing transaction volume this year as we add new services and expand our customer base.”

A primary application for the virtual credit is settlement of hotel transactions. For example, a travel supplier with yearly volume of $50 million paid to suppliers would typically incur costs of more than $225,000 for processing and reconciling transactions. These costs include labor, along with associated fees for wire transfers, currency conversion fees and lost interest on the float. The virtual credit card’s simplified electronic reconciliation and elimination or reduction of many fees can save users more than $200,000.

In addition, the virtual credit card captures and tracks important booking details, including the reservation code, requester identifier, traveller name, hotel chain code/name, room type, rate code, hotel confirmation number and check-in/check-out dates.

“Virtual credit cards not only benefit the agencies booking travel, but many suppliers have been pushing for this solution because it streamlines their transactions with credit card settlement,” explained Hagen. “They receive payment right after a guest receives service, reduce labor and material costs for invoice production, and cut down on payment disputes.”

The virtual credit cards are part of the Moneydirect Supplier Payments solution, one of six main services the company offers. The others are:

• Moneydirect Easy Collect, which automates collection of funds from travel industry partners.


• Moneydirect Central Settlement, which automates collections and disbursements of funds in a single process.


• Moneydirect Traveler Payments, which enables the processing of credit cards on a secure platform.


• Moneydirect Direct Billing, which simplifies the billing and collection of corporate direct bill transactions.


• Moneydirect Commissions, which allows for efficient commission payment processing globally in a transparent bank-to-bank platform.

These enhanced payment solutions are being supported by the installation of a new technology platform at Moneydirect’s global data center in Australia. The new hardware, which includes state-of-the-art blade servers, is already delivering faster processing and enhanced security for customers.

“We’ve seen growth in travel transactions during the first quarter and anticipate better overall industry performance during 2010,” said Hagen. “As a market leader, Moneydirect is well-positioned to contribute to the success of our travel partners by providing them with creative, cost-effective payment solutions.”

About Moneydirect

Moneydirect, an Amadeus and Sabre joint venture, is the leading provider of multi-channel payment solutions for the global travel industry. More than 11,000 customers currently trust Moneydirect to securely manage more than US$3 billion annually in global travel payments on its best-in-class processing platform. More information is available at www.moneydirect.com.

Contacts

Moneydirect

Eduardo Vaena, +1 682-605-3332

Vice President, Global Marketing

eduardo.vaena@moneydirect.com

or

K Squared Communications on behalf of Moneydirect

Thomas Stack, +1 847-471-4213

tstack@ksqrd.com

Permalink: http://www.businesswire.com/news/home/20100517005466/en/Moneydirect-Launches-Virtual-Credit-Card-Payment-Solution

The ETA Responds to Durbin Amendment

The ETA responds to Senate's passage of Durbin amendment to financial reform bill



Washington, May 14, 2010 -- The following statement was issued by ETA Chief Executive Officer Carla Balakgie in response to the passage of an amendment by Sen. Richard Durbin (D-IL) to the financial reform bill now before the U.S. Senate:

“ETA is disappointed by passage of the Durbin amendment and very concerned about the impact it will have on many types of businesses in the electronic payments chain. This amendment will likely reduce credit availability for merchants and consumers, and raise the price of existing credit. As a champion of the benefits of electronic payments, ETA is also saddened to see the Senate, by allowing minimum and maximum purchase amounts, restrict consumers’ ability to utilize the convenience and safety of card payments in their daily lives.”

Source: Company press release.

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