Friday, June 4, 2010

Another 1.7 Signatures from SuperAmerica Support Durbin Bill



Fox News in the Twin Cities is reporting that SuperAmerica has collected 1.7  million signatures supporting the debit card swipe fee amendment introduced by Illinois Senator Dick Durbin
CANTON, Ohio. - Speedway SuperAmerica said Thursday it has now collected nearly 1.7 million customer signatures for a petition in support of credit card swipe fee reform. The National Association of Convenience Stores has now collected 5.5 million from customers nationwide. 144,000 signatures were collected in Minnesota and 51,000 in Wisconsin. South Dakota also collected 1,000 signatures, despite only having one company owned and operated store in the state.  Those signatures will be presented to Congress in support of a debit card swipe fee amendment sponsored by Illinois Sen. Dick Durbin. 
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Another 1.7 Signatures from SuperAmerica Support Durbin Bill



Fox News in the Twin Cities is reporting that SuperAmerica has collected 1.7  million signatures supporting the debit card swipe fee amendment introduced by Illinois Senator Dick Durbin
CANTON, Ohio. - Speedway SuperAmerica said Thursday it has now collected nearly 1.7 million customer signatures for a petition in support of credit card swipe fee reform. The National Association of Convenience Stores has now collected 5.5 million from customers nationwide. 144,000 signatures were collected in Minnesota and 51,000 in Wisconsin. South Dakota also collected 1,000 signatures, despite only having one company owned and operated store in the state.  Those signatures will be presented to Congress in support of a debit card swipe fee amendment sponsored by Illinois Sen. Dick Durbin. 
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Senator Durbin’s Amendment Could Affect Consumer Debit and Credit Spending, According to Lightspeed Research





http://www.lightspeedresearch.comCAMBRIDGE, Mass.--(BUSINESS WIRE)--A new study from the Financial Services Group at Lightspeed Research shows that the majority of U.S. consumers are not in favor of the payment choice limitations that could ultimately result from Senator Durbin’s amendment to the proposed financial reform bill. The research results further indicate that these consumers would alter their shopping behavior based on merchants’ payment acceptance policies.
“U.S. Consumer Card Spending: The Potential Impact of the Durbin Amendment”
Senator Durbin’s amendment (SA 3989) to the proposed Restoring American Financial Stability Act of 2010 would give the Federal Reserve Board the authority to establish rules and regulations related to the interchange fees that issuers and payment card networks could charge with respect to debit card transactions. It would also reduce payment card networks’ oversight of merchants’ card acceptance policies, allowing merchants to offer discounts for non-card purchases, and to set minimum/maximum transaction values for card purchases.
The new study from Lightspeed Research, titled “U.S. Consumer Card Spending: The Potential Impact of the Durbin Amendment,” evaluates the possible ways in which Senator Durbin’s amendment could change consumers’ use of card-based payment products. Key findings from the study include:
• More than two-thirds of U.S. consumers oppose the idea of not being able to use a debit or credit card for small-dollar purchases and 53% indicate that they would not shop as often at stores that imposed these limitations.
• The use of debit cards for transactions under $20 has steadily increased during the past few years, and now accounts for 56% of all debit transactions.
• For purchases in the sub-$10 range, fully one-third of all consumers prefer using plastic to cash.
• 88% of consumers oppose the idea of being charged a higher price for using credit or debit for a purchase, while only 44% are in favor of receiving a discount for using cash.
About This Research
Between May 24 and June 1, 2010, Lightspeed Research surveyed a nationally representative sample of 4,898 U.S. consumers. The survey included questions about consumers’ current usage of payment products (cash, checks, debit cards, and credit cards), as well as a series of scenario-based questions related to the changes that could come about due to Senator Durbin’s amendment (e.g., minimum purchases for card products, incentives for using non-card products for payment, etc.). Lightspeed Research also incorporated analysis of transactional data from its Behavioral Tracking Panel, through which panelists agree to allow Lightspeed Research to passively track their usage of credit and debit.
About Lightspeed Research
Lightspeed Research delivers valuable data to help clients make informed business decisions. With proprietary online panels throughout the world, our verified, engaged, and deeply profiled survey respondents can support research studies that vary in scope and complexity. Lightspeed Research’s expert Client Operations Team offers data collection services including survey design, sample management, programming, and reporting. The company has offices throughout the United States, Europe, and Asia Pacific. Lightspeed Research is part of Kantar, the information insight and consultancy division of WPP. For more information, please visit www.lightspeedresearch.com.
About The Financial Services Group at Lightspeed Research
The Financial Services Group at Lightspeed Research provides its clients with comprehensive and accurate perspectives on consumers’ shifting usage of payment products by integrating passively collected credit and debit transactional data, attitudinal insights and industry expertise. The Financial Services Group also produces a series of competitive intelligence studies that provide timely visibility into the types of communications that credit card issuers and retail banks are sending to their customers.

Contacts

Press Inquiries

Lightspeed Research, Inc.

David Gordon, +1 617-431-5359

SVP, Business Development

dgordon@lightspeedresearch.com
Permalink: http://www.businesswire.com/news/home/20100603006783/en/Senator-Durbin%E2%80%99s-Amendment-Affect-Consumer-Debit-Credit
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Senator Durbin’s Amendment Could Affect Consumer Debit and Credit Spending, According to Lightspeed Research





http://www.lightspeedresearch.comCAMBRIDGE, Mass.--(BUSINESS WIRE)--A new study from the Financial Services Group at Lightspeed Research shows that the majority of U.S. consumers are not in favor of the payment choice limitations that could ultimately result from Senator Durbin’s amendment to the proposed financial reform bill. The research results further indicate that these consumers would alter their shopping behavior based on merchants’ payment acceptance policies.
“U.S. Consumer Card Spending: The Potential Impact of the Durbin Amendment”
Senator Durbin’s amendment (SA 3989) to the proposed Restoring American Financial Stability Act of 2010 would give the Federal Reserve Board the authority to establish rules and regulations related to the interchange fees that issuers and payment card networks could charge with respect to debit card transactions. It would also reduce payment card networks’ oversight of merchants’ card acceptance policies, allowing merchants to offer discounts for non-card purchases, and to set minimum/maximum transaction values for card purchases.
The new study from Lightspeed Research, titled “U.S. Consumer Card Spending: The Potential Impact of the Durbin Amendment,” evaluates the possible ways in which Senator Durbin’s amendment could change consumers’ use of card-based payment products. Key findings from the study include:
• More than two-thirds of U.S. consumers oppose the idea of not being able to use a debit or credit card for small-dollar purchases and 53% indicate that they would not shop as often at stores that imposed these limitations.
• The use of debit cards for transactions under $20 has steadily increased during the past few years, and now accounts for 56% of all debit transactions.
• For purchases in the sub-$10 range, fully one-third of all consumers prefer using plastic to cash.
• 88% of consumers oppose the idea of being charged a higher price for using credit or debit for a purchase, while only 44% are in favor of receiving a discount for using cash.
About This Research
Between May 24 and June 1, 2010, Lightspeed Research surveyed a nationally representative sample of 4,898 U.S. consumers. The survey included questions about consumers’ current usage of payment products (cash, checks, debit cards, and credit cards), as well as a series of scenario-based questions related to the changes that could come about due to Senator Durbin’s amendment (e.g., minimum purchases for card products, incentives for using non-card products for payment, etc.). Lightspeed Research also incorporated analysis of transactional data from its Behavioral Tracking Panel, through which panelists agree to allow Lightspeed Research to passively track their usage of credit and debit.
About Lightspeed Research
Lightspeed Research delivers valuable data to help clients make informed business decisions. With proprietary online panels throughout the world, our verified, engaged, and deeply profiled survey respondents can support research studies that vary in scope and complexity. Lightspeed Research’s expert Client Operations Team offers data collection services including survey design, sample management, programming, and reporting. The company has offices throughout the United States, Europe, and Asia Pacific. Lightspeed Research is part of Kantar, the information insight and consultancy division of WPP. For more information, please visit www.lightspeedresearch.com.
About The Financial Services Group at Lightspeed Research
The Financial Services Group at Lightspeed Research provides its clients with comprehensive and accurate perspectives on consumers’ shifting usage of payment products by integrating passively collected credit and debit transactional data, attitudinal insights and industry expertise. The Financial Services Group also produces a series of competitive intelligence studies that provide timely visibility into the types of communications that credit card issuers and retail banks are sending to their customers.

Contacts

Press Inquiries

Lightspeed Research, Inc.

David Gordon, +1 617-431-5359

SVP, Business Development

dgordon@lightspeedresearch.com
Permalink: http://www.businesswire.com/news/home/20100603006783/en/Senator-Durbin%E2%80%99s-Amendment-Affect-Consumer-Debit-Credit
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Austin Cab Goes Mobile, Deploys Mobilescape Mobile Payment Solution to Fleet of 160 Taxis and Limos



Leading taxi and limo service in Austin, Texas reports customers are happier, tips are up and end-of-shift accounting is streamlined after switching to wireless credit card processing terminals





Houston, TX (PRWEB) June 2, 2010 -- Mobilescape, the provider of the market’s leading mobile payment solution for credit cards and checks, today announced that Austin Cab has deployed the Mobilescape wireless credit card processing solution to its 160-vehicle fleet.



The Mobilescape 5000 wireless credit card and check terminal
The Mobilescape 5000 wireless credit card and check terminal
"Since we installed Mobilescape in every one of our cabs and limos, our business has just run better,” said Ron Means, general manager of Austin Cab. “The solution is easy and the terminals are rugged. With one easy swipe, we avoid bad or expired bankcards and save money on processing fees. Mobilescape more than pays for itself."Taxi and limo companies face a number of challenges in collecting payments. Customers may not have enough cash on hand or, since carrying large amounts of cash is risky, drivers may not have the cash to provide change. Manual credit card imprinters create paper credit card receipts that are not secure and must be keyed in by hand at the home office.



Mobilescape helps taxi and limo companies by





  • Improving the customer experience. Customers who are short on cash can use credit or debit cards to pay for fares. And merchants report that customers who use credit cards and who are offered a tip screen are more likely to give bigger tips.

  • Speeding up transactions. Drivers can swipe cards, get instant approvals or declines, and print one or more receipts in seconds. Turnaround time per transaction is reduced—the passenger is on his way, and the driver can quickly move on to the next fare.

  • Reducing payment risks. Mobilescape reduces the risk of handling and carrying large amounts of cash, simplifies the nuisance of making change, and ensures that credit card data is safe and secure by truncating card numbers.

  • Back-office time savings. With less cash to handle and sort at the end of the day, time spent on balancing the books and making bank deposits is significantly reduced.

  • Accessing real-time reports. Managers can view real-time transaction activity by driver, and can easily pay tips at the end of a shift.



“Customers increasingly expect to pay for taxi rides with a credit or debit card, and Mobilescape provides an affordable way to meet that expectation,” said Richard A. Howell, vice president of mobile payments at BankServ, Mobilescape’s parent company. “The device prompts customers for a tip, which taxi owners tell us has caused tips to go up. And since the solution’s web-based transaction analytics portal separates out tips by fare and driver, the end-of-shift payout is simple and easy.”

For more information about the Mobilescape mobile payment solution, please visit www.mobilescape.com.



About Mobilescape

Mobilescape is the market’s most cost effective, full-featured and durable mobile payment solution for credit cards and checks. The Mobilescape solution includes hardware, customizable firmware, wireless service, transaction processing and 24/7 support and maintenance.

Mobilescape’s unique hardware features include electronic check conversion and customizable payment screens with easy-to-use icons. Web-based features include true signature capture and transaction analytics that are exportable to any finance or accounting package. Mobilescape is the

mobile payment partner of choice for leading enterprises in healthcare, food service, transportation, mobile photographers and residential services.

For more information, please visit www.mobilescape.com.

# # #

Austin Cab Goes Mobile, Deploys Mobilescape Mobile Payment Solution to Fleet of 160 Taxis and Limos



Leading taxi and limo service in Austin, Texas reports customers are happier, tips are up and end-of-shift accounting is streamlined after switching to wireless credit card processing terminals





Houston, TX (PRWEB) June 2, 2010 -- Mobilescape, the provider of the market’s leading mobile payment solution for credit cards and checks, today announced that Austin Cab has deployed the Mobilescape wireless credit card processing solution to its 160-vehicle fleet.



The Mobilescape 5000 wireless credit card and check terminal
The Mobilescape 5000 wireless credit card and check terminal
"Since we installed Mobilescape in every one of our cabs and limos, our business has just run better,” said Ron Means, general manager of Austin Cab. “The solution is easy and the terminals are rugged. With one easy swipe, we avoid bad or expired bankcards and save money on processing fees. Mobilescape more than pays for itself."Taxi and limo companies face a number of challenges in collecting payments. Customers may not have enough cash on hand or, since carrying large amounts of cash is risky, drivers may not have the cash to provide change. Manual credit card imprinters create paper credit card receipts that are not secure and must be keyed in by hand at the home office.



Mobilescape helps taxi and limo companies by





  • Improving the customer experience. Customers who are short on cash can use credit or debit cards to pay for fares. And merchants report that customers who use credit cards and who are offered a tip screen are more likely to give bigger tips.

  • Speeding up transactions. Drivers can swipe cards, get instant approvals or declines, and print one or more receipts in seconds. Turnaround time per transaction is reduced—the passenger is on his way, and the driver can quickly move on to the next fare.

  • Reducing payment risks. Mobilescape reduces the risk of handling and carrying large amounts of cash, simplifies the nuisance of making change, and ensures that credit card data is safe and secure by truncating card numbers.

  • Back-office time savings. With less cash to handle and sort at the end of the day, time spent on balancing the books and making bank deposits is significantly reduced.

  • Accessing real-time reports. Managers can view real-time transaction activity by driver, and can easily pay tips at the end of a shift.



“Customers increasingly expect to pay for taxi rides with a credit or debit card, and Mobilescape provides an affordable way to meet that expectation,” said Richard A. Howell, vice president of mobile payments at BankServ, Mobilescape’s parent company. “The device prompts customers for a tip, which taxi owners tell us has caused tips to go up. And since the solution’s web-based transaction analytics portal separates out tips by fare and driver, the end-of-shift payout is simple and easy.”

For more information about the Mobilescape mobile payment solution, please visit www.mobilescape.com.



About Mobilescape

Mobilescape is the market’s most cost effective, full-featured and durable mobile payment solution for credit cards and checks. The Mobilescape solution includes hardware, customizable firmware, wireless service, transaction processing and 24/7 support and maintenance.

Mobilescape’s unique hardware features include electronic check conversion and customizable payment screens with easy-to-use icons. Web-based features include true signature capture and transaction analytics that are exportable to any finance or accounting package. Mobilescape is the

mobile payment partner of choice for leading enterprises in healthcare, food service, transportation, mobile photographers and residential services.

For more information, please visit www.mobilescape.com.

# # #

TSYS Successfully Completes DnB NOR Kort Conversion



 TSYS

COLUMBUS, Ga. & LONDON--(BUSINESS WIRE)--TSYS today announced the successful conversion of the MasterCard portfolio of Norway's largest financial services group, DnB NOR Bank. The bank chose TSYS' PRIME card and merchant management solution to service the portfolio of 2.9 million cards for its market-leading credit-card operator, DnB NOR Kort.
“TSYS will help enable DnB NOR Kort to maintain a strong competitive advantage by providing the flexibility to launch new products and services quickly”
TSYS provided DnB NOR Kort a migration plan for its 2.2 million MasterCard credit cards, following a phased migration of its American Express cards, from a variety of external legacy systems to a single in-house PRIME solution. With support from TSYS, DnB NOR Kort was able to implement a SEPA-compliant solution with the flexibility needed to deliver cost-effective and leading-edge customer services.
TSYS assisted the bank with project design, planning methodology and systems integration, helping DnB NOR Kort achieve secure, high-volume transaction processing. An additional 0.7 million cards, including DnB NOR Kort’s VISA cards, will be migrated to the PRIME platform in the final phase of the migration.
PRIME provides support for handling multiple issuers and acquirers on the same installation, support for multiple languages and currencies, and fully EMV-compliant issuing and acquiring for multiple payment schemes. It will enable DnB NOR Kort to consolidate its issuance and management of different types of credit and payment cards, including prepaid and corporate cards, on a single platform.
“We chose TSYS because of its track record in delivering a cost-effective solution, combined with high performance, high quality, stability and security,” said Bjørn Tore Westby, chief executive officer of DnB NOR Kort. “The conversion of our portfolio to PRIME is a fantastic milestone in the development of the credit card business in our bank, and we are extremely grateful to TSYS for its careful planning of a seamless migration.”
“TSYS will help enable DnB NOR Kort to maintain a strong competitive advantage by providing the flexibility to launch new products and services quickly,” said Bob Evans, group executive of TSYS International.
About TSYS
TSYS (NYSE: TSS) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, debt management, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. For more information contact news@tsys.com or log on to www.tsys.com.
About DnB Nor Bank
DnB NOR Bank ASA (OSE: DNBNOR) is Norway's largest financial services group with total combined assets of more than NOK 2.0 trillion (USD 350 billion) and pre-tax operating profits of NOK 11 billion (USD 1.9b) for year-end 2009. With head offices in Oslo, DnB NOR employs over 13,000 staff and serves more than 2.3 million retail customers and 200,000 corporate clients in Norway through a network of 218 branches, 913 in-store banking outlets, 117 real estate brokerage offices and 208 post offices. Its Internet banks are used by 1.6 million customers, and 500,000 customers access its banking services via their mobile phones.

TSYS Successfully Completes DnB NOR Kort Conversion



 TSYS

COLUMBUS, Ga. & LONDON--(BUSINESS WIRE)--TSYS today announced the successful conversion of the MasterCard portfolio of Norway's largest financial services group, DnB NOR Bank. The bank chose TSYS' PRIME card and merchant management solution to service the portfolio of 2.9 million cards for its market-leading credit-card operator, DnB NOR Kort.
“TSYS will help enable DnB NOR Kort to maintain a strong competitive advantage by providing the flexibility to launch new products and services quickly”
TSYS provided DnB NOR Kort a migration plan for its 2.2 million MasterCard credit cards, following a phased migration of its American Express cards, from a variety of external legacy systems to a single in-house PRIME solution. With support from TSYS, DnB NOR Kort was able to implement a SEPA-compliant solution with the flexibility needed to deliver cost-effective and leading-edge customer services.
TSYS assisted the bank with project design, planning methodology and systems integration, helping DnB NOR Kort achieve secure, high-volume transaction processing. An additional 0.7 million cards, including DnB NOR Kort’s VISA cards, will be migrated to the PRIME platform in the final phase of the migration.
PRIME provides support for handling multiple issuers and acquirers on the same installation, support for multiple languages and currencies, and fully EMV-compliant issuing and acquiring for multiple payment schemes. It will enable DnB NOR Kort to consolidate its issuance and management of different types of credit and payment cards, including prepaid and corporate cards, on a single platform.
“We chose TSYS because of its track record in delivering a cost-effective solution, combined with high performance, high quality, stability and security,” said Bjørn Tore Westby, chief executive officer of DnB NOR Kort. “The conversion of our portfolio to PRIME is a fantastic milestone in the development of the credit card business in our bank, and we are extremely grateful to TSYS for its careful planning of a seamless migration.”
“TSYS will help enable DnB NOR Kort to maintain a strong competitive advantage by providing the flexibility to launch new products and services quickly,” said Bob Evans, group executive of TSYS International.
About TSYS
TSYS (NYSE: TSS) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, debt management, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. For more information contact news@tsys.com or log on to www.tsys.com.
About DnB Nor Bank
DnB NOR Bank ASA (OSE: DNBNOR) is Norway's largest financial services group with total combined assets of more than NOK 2.0 trillion (USD 350 billion) and pre-tax operating profits of NOK 11 billion (USD 1.9b) for year-end 2009. With head offices in Oslo, DnB NOR employs over 13,000 staff and serves more than 2.3 million retail customers and 200,000 corporate clients in Norway through a network of 218 branches, 913 in-store banking outlets, 117 real estate brokerage offices and 208 post offices. Its Internet banks are used by 1.6 million customers, and 500,000 customers access its banking services via their mobile phones.

Celent on U.S. Debit Interchange



Celent on U.S. Debit Interchange



28% of Cardholders had Security Issues in 2009 - Javelin Report

A new Javelin Strategy & Research report – 2010 Data Breach Prevention and Response: Causes, Consumer Consequences, and Tools for Layered Defense (DLP and SIEM) – finds that at least 28% of all consumers received a replacement debit or credit card in 2009 due to security concerns; a large number of those had more than one card replaced or a card reissued more than once. The cost for businesses is huge – Javelin conservatively estimates that the cost to reissue cards was $252 million in 2009.



While several new laws and regulations have been put in place to protect consumers – such as data breach notification laws, which are in effect in all but four states – and Red Flag Rules, which went into effect of June 1, 2010 and require firms that hold customer accounts to implement programs that identify and detect red flags that signal possible identity theft – these notifications are not appropriately spurring consumers to action. “Consumers who receive notifications that their personal information may have been breached are not connecting the dots,” said Robert Vamosi, Fraud and Security Analyst and author of this report. “They don’t seem to understand that this puts them at an increased risk for other types of fraud and at an increased need for identity protection services such as fraud alerts, security freezes and credit and identity monitoring.” Fraud victims who have been notified of a data breach experience fraud at nearly five times the rate of fraud victims who have not been notified of a breach.



New rules and regulations clearly put the onus on businesses and they can meet these obligations, protect their relationships with consumers and save money in the long run by putting in place best practices to prevent, detect and resolve identity fraud. The 2010 Data Breach Prevention and Response report recommends specific steps businesses can take before, during and after a data breach. It provides data loss prevention (DLP) guidance and discusses vendors that can help assess, identify and limit access to data to prevent breaches from occurring. The report also covers data breach monitoring services offered by security incident and event management (SIEM) vendors and cites vendors that can assist with the notification and resolution of data breaches.



Selected Key Report Findings – 2010 Data Breach Prevention and Response

• More than one in four of all U.S. consumers have received a data breach notification.

• New accounts fraud – which is the most difficult to detect – accounts for a large percentage of the growth in identity fraud over the past two years.

• Consumers often either no longer use a card or use it less after it is reissued.

• Financial Institutions are viewed less favorably by 38% of consumers after they receive a breach notification.



“Consumers are quick to place the blame on financial institutions and retailers even though they may not be the responsible party, which can lead to a loss in trust and business,” said Robert Vamosi, Fraud and Security Analyst. “Businesses can be proactive by identifying what sensitive data they have and where it resides, creating a layered plan to protect the consumer’s personal information and developing a plan for how to respond in case a data breach occurs.”



Javelin’s 2010 Data Prevention and Response report is based on data collected online in November 2009 from a random-sample panel of 3,294 consumers, data from a September 2009 telephone survey with 5,000 U.S. adults – including 703 identity fraud victims – and secondary data from publicly available online sources.



About Javelin Strategy & Research



Javelin provides superior direction on key facts and forces that materially determine the success of customer-facing financial services, payments and security initiatives. Our advantages are rigorous process, independent position and expert people. For more information about this or other Javelin reports, please visitwww.javelinstrategy.com/research or contact Liz Travers at (925) 225-9100 ext. 31 or etravers@javelinstrategy.com.



Source: Company press release.

28% of Cardholders had Security Issues in 2009 - Javelin Report

A new Javelin Strategy & Research report – 2010 Data Breach Prevention and Response: Causes, Consumer Consequences, and Tools for Layered Defense (DLP and SIEM) – finds that at least 28% of all consumers received a replacement debit or credit card in 2009 due to security concerns; a large number of those had more than one card replaced or a card reissued more than once. The cost for businesses is huge – Javelin conservatively estimates that the cost to reissue cards was $252 million in 2009.



While several new laws and regulations have been put in place to protect consumers – such as data breach notification laws, which are in effect in all but four states – and Red Flag Rules, which went into effect of June 1, 2010 and require firms that hold customer accounts to implement programs that identify and detect red flags that signal possible identity theft – these notifications are not appropriately spurring consumers to action. “Consumers who receive notifications that their personal information may have been breached are not connecting the dots,” said Robert Vamosi, Fraud and Security Analyst and author of this report. “They don’t seem to understand that this puts them at an increased risk for other types of fraud and at an increased need for identity protection services such as fraud alerts, security freezes and credit and identity monitoring.” Fraud victims who have been notified of a data breach experience fraud at nearly five times the rate of fraud victims who have not been notified of a breach.



New rules and regulations clearly put the onus on businesses and they can meet these obligations, protect their relationships with consumers and save money in the long run by putting in place best practices to prevent, detect and resolve identity fraud. The 2010 Data Breach Prevention and Response report recommends specific steps businesses can take before, during and after a data breach. It provides data loss prevention (DLP) guidance and discusses vendors that can help assess, identify and limit access to data to prevent breaches from occurring. The report also covers data breach monitoring services offered by security incident and event management (SIEM) vendors and cites vendors that can assist with the notification and resolution of data breaches.



Selected Key Report Findings – 2010 Data Breach Prevention and Response

• More than one in four of all U.S. consumers have received a data breach notification.

• New accounts fraud – which is the most difficult to detect – accounts for a large percentage of the growth in identity fraud over the past two years.

• Consumers often either no longer use a card or use it less after it is reissued.

• Financial Institutions are viewed less favorably by 38% of consumers after they receive a breach notification.



“Consumers are quick to place the blame on financial institutions and retailers even though they may not be the responsible party, which can lead to a loss in trust and business,” said Robert Vamosi, Fraud and Security Analyst. “Businesses can be proactive by identifying what sensitive data they have and where it resides, creating a layered plan to protect the consumer’s personal information and developing a plan for how to respond in case a data breach occurs.”



Javelin’s 2010 Data Prevention and Response report is based on data collected online in November 2009 from a random-sample panel of 3,294 consumers, data from a September 2009 telephone survey with 5,000 U.S. adults – including 703 identity fraud victims – and secondary data from publicly available online sources.



About Javelin Strategy & Research



Javelin provides superior direction on key facts and forces that materially determine the success of customer-facing financial services, payments and security initiatives. Our advantages are rigorous process, independent position and expert people. For more information about this or other Javelin reports, please visitwww.javelinstrategy.com/research or contact Liz Travers at (925) 225-9100 ext. 31 or etravers@javelinstrategy.com.



Source: Company press release.

MasterCard Enhances Debit Card for e-Commerce in Europe

Waterloo, Belgium, and Budapest, Hungary, June 3, 2010 -- MasterCard has today outlined its Maestro® eCommerce strategy with enhancements of the Maestro debit card product designed to enable eCommerce transactions for its over 300 million cardholders in Europe.



Speaking today at the MasterCard Debit and Prepaid conference in Budapest, MasterCard Europe President, Javier Perez, introduced the eCommerce initiative "as a means to maximize the 200€ billion opportunity ahead of us, not only for our customers and e-tailers but importantly the consumers both communities aim to serve."



European eCommerce will be worth €203 billion by 20141, and represents the fastest growing retailer channel globally. Commenting, Perez said "Although over two thirds of all card payments are made by debit in Europe2 , the internet tells a very different story, with this virtual space served by multiple, local debit solutions across the varied markets of Europe and a subsequent minimal use of debit by internet shoppers.



"Our initiative is therefore designed to replicate the seamless Maestro high street experience and ensure that the fully authorized transaction guarantee - an essential part of the Maestro DNA - is offered for online transactions. To not do this, and leave over 300 million Maestro cards non eCommerce enabled, would be a backward step for our European cardholders, merchants and customers alike."



The Maestro eCommerce Initiative



In April, MasterCard adjusted its European product specifications to include eCommerce transactions as a standard transaction type to be supported by all issuers of Maestro cards in Europe from April 11, 2011, where previously this was optional. Additional changes were also made to support the rapid introduction of Maestro debit cards on the world wide web (see editorial note over).



"In the last year we have been increasingly challenged by our customers including today's growing e-tailing community. We knew that we had to make changes to demonstrate our commitment to bring Maestro into the virtual world, and although the very black and white nature of these new policy requirements look simplistic enough, they do represent a major move to support the growing number of acquirers who have already invested in bringing Maestro to the internet. We have already seen the momentum for this, with Belgium's top three issuers recently opening up Maestro's online capability for Belgium cardholders" Perez said.



The new face of Maestro



Javier Perez added: "Our initiative does not stop with policy changes. Maestro's stickiness on the internet will only grow if the product - in its real world form - evolves as well. Now plastic really does have to be fantastic, hence our proposed 'new generation Maestro'."



"There are currently many varied faces of Maestro - prepaid, contactless, embossed, but the one proposed here today is probably one of the most exciting as it offers a new level of security, control and convenience for European consumers. This card carries a display and a touch-sensitive button. Push once and you know immediately how much you have available in your current account - or on your prepaid card - push again and a unique, one-time only passcode will be shown to secure your internet transaction. This really is 'one card that does it all' - offering secure shopping on the high street with chip and PIN and secure eCommerce shopping as well as internet banking facility access. As our current advertising campaign states - 'Maestro - So Simple'. "



Concluding, Perez said: "Cards were born from cardboard, they've been 'mag striped' and 'chipped' and now we enter their silicon age, with a display and touchpad opening up a multitude of possibilities. With today's commitment to support Maestro's entry onto the net and the continuing development of Maestro functionality, the stage has well and truly been set and the 'virtual' and 'real' worlds of debit card payments promise to finally come together for today's consumer."



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 over 22 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 www.mastercard.com . Follow us on Twitter: @mastercardnews.


Source: Company press release.



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MasterCard Enhances Debit Card for e-Commerce in Europe

Waterloo, Belgium, and Budapest, Hungary, June 3, 2010 -- MasterCard has today outlined its Maestro® eCommerce strategy with enhancements of the Maestro debit card product designed to enable eCommerce transactions for its over 300 million cardholders in Europe.



Speaking today at the MasterCard Debit and Prepaid conference in Budapest, MasterCard Europe President, Javier Perez, introduced the eCommerce initiative "as a means to maximize the 200€ billion opportunity ahead of us, not only for our customers and e-tailers but importantly the consumers both communities aim to serve."



European eCommerce will be worth €203 billion by 20141, and represents the fastest growing retailer channel globally. Commenting, Perez said "Although over two thirds of all card payments are made by debit in Europe2 , the internet tells a very different story, with this virtual space served by multiple, local debit solutions across the varied markets of Europe and a subsequent minimal use of debit by internet shoppers.



"Our initiative is therefore designed to replicate the seamless Maestro high street experience and ensure that the fully authorized transaction guarantee - an essential part of the Maestro DNA - is offered for online transactions. To not do this, and leave over 300 million Maestro cards non eCommerce enabled, would be a backward step for our European cardholders, merchants and customers alike."



The Maestro eCommerce Initiative



In April, MasterCard adjusted its European product specifications to include eCommerce transactions as a standard transaction type to be supported by all issuers of Maestro cards in Europe from April 11, 2011, where previously this was optional. Additional changes were also made to support the rapid introduction of Maestro debit cards on the world wide web (see editorial note over).



"In the last year we have been increasingly challenged by our customers including today's growing e-tailing community. We knew that we had to make changes to demonstrate our commitment to bring Maestro into the virtual world, and although the very black and white nature of these new policy requirements look simplistic enough, they do represent a major move to support the growing number of acquirers who have already invested in bringing Maestro to the internet. We have already seen the momentum for this, with Belgium's top three issuers recently opening up Maestro's online capability for Belgium cardholders" Perez said.



The new face of Maestro



Javier Perez added: "Our initiative does not stop with policy changes. Maestro's stickiness on the internet will only grow if the product - in its real world form - evolves as well. Now plastic really does have to be fantastic, hence our proposed 'new generation Maestro'."



"There are currently many varied faces of Maestro - prepaid, contactless, embossed, but the one proposed here today is probably one of the most exciting as it offers a new level of security, control and convenience for European consumers. This card carries a display and a touch-sensitive button. Push once and you know immediately how much you have available in your current account - or on your prepaid card - push again and a unique, one-time only passcode will be shown to secure your internet transaction. This really is 'one card that does it all' - offering secure shopping on the high street with chip and PIN and secure eCommerce shopping as well as internet banking facility access. As our current advertising campaign states - 'Maestro - So Simple'. "



Concluding, Perez said: "Cards were born from cardboard, they've been 'mag striped' and 'chipped' and now we enter their silicon age, with a display and touchpad opening up a multitude of possibilities. With today's commitment to support Maestro's entry onto the net and the continuing development of Maestro functionality, the stage has well and truly been set and the 'virtual' and 'real' worlds of debit card payments promise to finally come together for today's consumer."



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 over 22 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 www.mastercard.com . Follow us on Twitter: @mastercardnews.


Source: Company press release.



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MasterCard Launches MoneySend™ for the iPhone and iPad



New App Allows Users to Receive Card Payments from Anyone

http://www.mastercard.comPURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Worldwide today announced the availability of the MasterCard MoneySend™ service for iPhone and iPad users, a convenient way to transfer money in the United States from person-to person by combining the power of your iPhone or iPad with your banking relationship. MasterCard MoneySend is available for free download at theiPhone App Store.
“With MoneySend, users avoid the hassle of making payments with cash, check or money orders and collecting funds is as simple as a text message with the ‘Request Funds’ feature of the app.”
MasterCard MoneySend allows users to ‘Send,’ ‘Pay’ or ‘Request Funds’ for a wide range of reasons including the everyday ‘IOU,’ informal services purchased from friends and family, payments to a personal trainer, roommate, babysitter, gardener, housekeeper or repairman,” said Joshua Peirez, Chief Innovation Officer, MasterCard Worldwide. “With MoneySend, users avoid the hassle of making payments with cash, check or money orders and collecting funds is as simple as a text message with the ‘Request Funds’ feature of the app.”
How it Works
MasterCard MoneySend allows users in the U.S. to send or request money via their iPhone through participating banks and credit unions, or when they create a virtual prepaid account through Bancorp Bank that is linked to an existing MasterCard payment card or checking account. The designated account funds the MoneySend transaction, and users can manage and trigger the exchanges through the app. Personal and financial information is never stored on the iPhone or iPad.
Registered MoneySend users have the ability to:
  • Accept credit or debit card payments

  • Send money to family members (*bank sending fees may apply)

  • Pay for informal goods and services (*bank sending fees may apply)

  • Request money from people who owe you money

  • Simplify your business or non-profit collection effort the Request Funds feature

  • Manage your MoneySend transaction history from your iPhone or iPad

The MasterCard MoneySend Prepaid Card and Virtual Account are issued by The Bancorp Bank pursuant to license from MasterCard. The card and virtual account is administered by Obopay Inc., Member Service Provider, (“MSP”) pursuant to an agreement with The Bancorp Bank. The MasterCard MoneySend Prepaid Card can be used anywhere Debit MasterCard is accepted.
For complete details on MoneySendclick here.
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 www.mastercard.com. Follow us on Twitter:@mcpriceless.com.
About Obopay
Founded in 2005, Obopay, Inc (www.obopay.com) delivers an open, trusted, secure and interoperable mobile payments service by transforming any mobile phone into a convenient and easy way to send and receive money – anywhere, anytime with anyone. Obopay’s broad based offering addresses the needs of consumers and businesses around the world by providing a ubiquitous service that delivers value, empowers lives and improves opportunity for merchants both in the physical and virtual worlds. Obopay’s innovative mobile money services make it easy for all mobile phone users to securely send and receive money, top-up their mobile, buy online, buy via mobile, pay bills and pay small businesses. Obopay believes the power is in the network and has established global partnerships that include Nokia, MasterCard, Citi, AT&T, Verizon, Essar, Yes Bank in India, Blackberry and Societe Generale. Global headquarters are in Redwood City, CA with operations in India.
About Bancorp
The Bancorp, Inc. is a bank holding company that operates The Bancorp Bank, an FDIC-insured commercial bank that delivers a full array of financial services and products both directly and through private-label affinity programs nationwide. The Bancorp Bank's payments offering includes card issuing, card acquiring, ACH, wire transfer services and customized deposit account structures. For more information, please visit TheBancorp.com.

Contacts

MasterCard Worldwide

Sarah Ely, 914-249-6714

sarah_ely@mastercard.com
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