Wednesday, December 8, 2010

MasterCard Reports Progress Towards Restoring Full Service to Corporate Website

MasterCardImage via Wikipedia


MasterCard Statement

PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard has made significant progress in restoring full-service to its corporate website. Our core processing capabilities have not been compromised and cardholder account data has not been placed at risk. While we have seen limited interruption in some web-based services, cardholders can continue to use their cards for secure transactions globally.
About MasterCard Worldwide
As a leading global payments company, MasterCard Worldwide prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2009, $2.5 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 22 billion transactions each year and has the capacity to handle 140 million transactions per hour, with an average network response time of 140 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl™. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com. Follow us on Twitter: @mastercardnews.

Contacts

MasterCard
Investor Relations:
Barbara Gasper, 914-249-4565
Investor_Relations@mastercard.com
or
Media Relations:
James Issokson, 914-249-6286
James_Issokson@mastercard.com
Permalink: http://www.businesswire.com/news/home/20101208006660/en/MasterCard-Statement



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Citi and Elavon Establish Brazilian Merchant Payment Company




Credicard and Elavon Announce Alliance to Establish a Merchant Payments Solutions Company in Brazil
http://www.citigroup.comJoint venture to provide merchant advantages and boost market competition with the arrival of the first global merchant acquiring player
SÃO PAULO & ATLANTA--(BUSINESS WIRE)--Credicard, a wholly-owned subsidiary of Citigroup Inc. (NYSE: C), and Elavon, a wholly-owned subsidiary of U.S. Bancorp (NYSE: USB) and leading global payments provider, have signed a binding agreement to establish a joint venture creating a merchant services company that will offer a full suite of payment solutions to the Brazilian marketplace.
“Since 2005, Brazil’s credit card market has grown at a 20-plus percent rate annually”
With robust growth in consumption and credit volume in Brazil, the new company will compete in a growing market that demands scale, experience, service quality and innovation. Combined with Credicard’s market expertise and brand recognition, Elavon will deliver a robust processing platform, financial efficiency, innovative payment solutions and secure point-of-sale devices for mobile acceptance environments.
“Since 2005, Brazil’s credit card market has grown at a 20-plus percent rate annually,” said Mike Passilla, President and CEO of Elavon. “We are excited to further drive this market growth by combining our best-in-class products, services and capabilities with Credicard’s market leadership position to offer new operational efficiencies and highly reliable solutions for small and national-level merchants in Brazil.”
For Gustavo Marin, CEO of Citi Brazil, the joint-venture represents an important step in the Organization’s business strategy. “Citi has always been at the forefront in the development of Brazil’s financial industry. With the creation of this joint-venture, we advance even further our strategy in Brazil’s retail market, offering a new option for consumers, as well as businessmen and merchants and, consequently, strengthen our growing position in the consumer credit segment,” concludes Marin.
“Credicard has been in the cards market for over 40 years, and this is the right time for us to return to the acquiring market. This alliance will be further leveraged by Credicard’s processing and technological know-how, and will enable us to once again transform Brazil’s payment acceptance market,” said Leonel Andrade, president of Credicard. Andrade also highlighted the importance of Brazil for global players in this segment, which were able to enter the country after it opened up its acquiring market in the second half of the year, placing Brazil for the first time at par with the service level seen around the world.
Elavon is a leading global acquirer with operations throughout Europe, as well as in the United States, Canada, Puerto Rico and Mexico. Supporting over one million merchants worldwide, Elavon is the number one payments provider to airlines and the second leading provider in the tourism and entertainment market, with specialized solutions for several other industries.
The new company will be branded as “Elavon” and will be supported with the launch of a sales force with national coverage, as well as in-market operations, technology and product resources.
Credicard
Present in the Brazilian market for over 40 years, Credicard – administrator of Citi’s credit card portfolio, one of the largest credit card issuers in the world, – is synonymous of credit cards in Brazil and manages Diners Club International, Visa and MasterCard labels. In 2009, the brand expanded its expertise in the country’s payment means market to engage in financing operations in Brazil, creating a complete portfolio of credit solutions for consumers. For more information, please visit www.credicard.com.br
Elavon (www.elavon.com): Elavon's Global Acquiring Solutions organization is a part of U.S. Bancorp (NYSE: USB) and provides end-to-end payment processing services to more than one million merchants in the United States, Europe, Canada, Mexico and Puerto Rico. Elavon markets solutions including credit and debit card processing, electronic check services, gift cards, dynamic currency conversion, multi-currency support, and cross-border acquiring through multiple alliance channels including financial institutions, trade associations and third party sales agents. Elavon’s suite of solutions is tailored to meet the needs of merchants in specialized markets such as small business, retail, hospitality/T&E, health care, education and the public sector.
Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com
USB (www.usbank.com): U.S. Bancorp, with $291 billion in assets as of Sept. 30, 2010, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,013 banking offices in 24 states and 5,323 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com

Contacts

Credicard Public Affairs
Leonardo Guerra, (+55) 11 4009-7232
leonardo.guerra@citi.com
or
Citi Latin America
Anthony Ingham, +1 305-347-1400
anthony.ingham@citi.com
or
Public Affairs - Elavon
Holly Lytle, +1 678-731-5236
holly.lytle@elavon.com
or
Public Affairs - U.S. Bank
Teri Charest, +1 612-303-0732
Teri.charest@usbank.com
Permalink: http://www.businesswire.com/news/home/20101208005925/en/Credicard%C2%A0and-Elavon-Announce-Alliance-Establish-Merchant-Payments



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MasterCard Corporate Website (Still) Down, Heavy Traffic Blamed...


Cuts off Wikileaks Payments yesterday (along with Visa and PayPal) MasterCard corporate website down today.  Hacker Involved?  Breaking....


MasterCard Statement

PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard is experiencing heavy traffic on its external corporate website – MasterCard.com. We are working to restore normal speed of service.
There is no impact whatsoever on our cardholders ability to use their cards for secure transactions.
About MasterCard Worldwide
As a leading global payments company, MasterCard Worldwide prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2009, $2.5 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 22 billion transactions each year and has the capacity to handle 140 million transactions per hour, with an average network response time of 140 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl™. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com. Follow us on Twitter: @mastercardnews.





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NagraID Security and MasterCard Deploy World’s First Display Credit Card




Going into Phase 2
CHESEAUX, Switzerland--(BUSINESS WIRE)--NagraID Security, a subsidiary of the Kudelski Group (SIX:KUD.S), is pleased to announce the success of the pilot initiated early October 2010 with MasterCard and Bank Sinopac. This important project is now going into Phase 2 with the deployment of more NagraID Security display cards.
NagraID has been selected by MasterCard Worldwide as the technology provider to launch the world's first MasterCard display credit card in conjunction with Bank SinoPac. NagraID Security is the only display card manufacturer qualified to the strict MasterCard quality criteria. It will keep developing and bring innovative products that enhance security for online payments and transactions.
http://www.nidsecurity.comAsian development planned
Bank SinoPac is the first issuer to bring the MasterCard “SinoPac Display Card” to consumers in Taiwan. With the rise in e-commerce transactions and increased demand for payment security, the innovative features of the new display card can meet the needs of consumers in Taiwan. MasterCard “SinoPac Display Card” cardholders can take advantage of a wide range of mobile financial services such as online transactions using 3D authentication security and non-predesignated account transfers.
Following the successful deployment of the Maestro and MasterCard DEBIT Display Card in Europe, the Sinopac project represents the first launch of MasterCard Credit Cards with display screen incorporating 3D functionality for online payments. NagraID Security will reinforce its presence in the rapidly growing Asian markets.
The display card is the first interactive Credit Card on the market. The one-time password (OTP) security technology with two-factor authentication is the state of the art in security maintenance. A cardholder can lightly tap a button on the credit card, and a six-digit screen will display the one-time dynamic password. The cardholder can use the dynamic password to enjoy a wide range of mobile financial services such as online transactions using 3D authentication security and non-predesignated account transfers. The innovative technology in the card also provides greater security and convenience for the cardholder and eliminates the need to wait for a text message while doing a non-predesignated account transfer.
Yunsok Chang, group executive, Global Products and Solutions, Asia/Pacific, Middle East, and Africa, MasterCard Worldwide said, “The new display card is a milestone for MasterCard as we innovate and work towards marrying technology and functionality in payments. The MasterCard 'SinoPac Display Card' in Taiwan is the first such program in the world on a credit card for MasterCard, and an extension of our success in Europe in June when we launched the first display card for Maestro.”
Desmond Jiang, President & Chief Executive of Channel Marketing, Bank SinoPac said, "Bank SinoPac is honored to be the first bank in the world to adopt this innovative technology with a display card in the credit card sector. We believe that this initiative will lead consumers in Taiwan towards more advanced and user-friendly payment solutions including mobile. Bank SinoPac will continue to strengthen its capabilities by developing more products that integrate technology with financial management, providing consumers in Taiwan newer, better and safer payment methods."
Earlier this year, NagraID Security's family of display debit and credit cards received MasterCard's CSI (Card Structure & Integrity) certification thus demonstrating the required levels of durability, safety and compliance to ISO standards for the launch of banking cards. NagraID is the only manufacturer in the world authorized to produce MasterCard's Display Cards.
For more information, please also refer to MasterCard's press release. (http://www.mastercard.com/us/company/en/newsroom/pr_world_first_mc_display_credit_card_unveiled.html)
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, please visit us at www.mastercard.com. Follow us on Twitter: @mastercardnews.
About NagraID Security
Nagra ID Security SA, a subsidiary of the Kudelski Group, produces multi-component and other complex cards for the security and identification industry. NagraID Security’s Research and Development Team combine international experts having broad experience in security, cryptography, electronics, material sciences and manufacturing. NagraID Security provides advanced design, development, and industrialization capabilities for innovative authentication solutions.
NagraID Security holds international patents for a non-violent lamination process used for embedding sensitive, electronic components into card and other form-factors. NagraID Security operates under the strict security guidelines of NagraID SA, an EMV-certified card manufacturing and personalization facility. Please visit www.nidsecurity.com for more information.
About The Kudelski Group
The Kudelski Group (SIX: KUD.VX) is a world leader in digital security and convergent media solutions for the delivery of digital and interactive content. Its technologies are used in a wide range of services and applications requiring access control and rights management to secure the revenue of content owners and service providers for digital television and interactive applications across broadcast, broadband and mobile delivery networks. The Kudelski Group is also a world technology leader in the area of access control and management of people or vehicles to sites and events. It additionally offers professional recorders and high-end Hi-Fi products. The Kudelski Group is headquartered in Cheseaux-sur-Lausanne, Switzerland. Please visit www.nagra.com for more information.

Contacts

NagraID Security
Laval Law, +1-310-841-2939
Marketing Manager
llaw@nidsecurity.com
or
Kudelski Group
Daniel Herrera, +41 21 732 01 81
Group Head of Corporate Communications
daniel.herrera@nagra.com
or
MasterCard Worldwide
Erica Harvill, 1-914-249-6848
Worldwide Communications
1-914-249-4206 (fax)
1-914-356-7366 (mobile)
erica_harvill@mastercard.com
Permalink: http://www.businesswire.com/news/home/20101207007337/en/NagraID-Security-MasterCard-Deploy-World%E2%80%99s-Display-Credit



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ZeuS-Style Malware Beats Out Password Phishing as "The Greatest Threat to Online Banking Today"


SOURCE: PhoneFactor   Dec 08, 2010 09:30 ET

Survey Indicates That Banks Are Aware of the Shift Toward Malware-Driven Attacks, but Not Fully Educated About What to Do to Protect Their Customers

OVERLAND PARK, KS--(Marketwire - December 8, 2010) - PhoneFactor, the leading global provider of phone-based multi-factor authentication, today released the results of its recent survey on the state of online banking security. The results point to a rapid shift in the prevalence of real-time attacks from online banking trojans, such as ZeuS, which are now more common than password phishing attacks, but a lack of understanding about what to do to protect against these threats.
The survey, conducted in November 2010, included responses from financial services professionals at more than 70 banks. Key findings in PhoneFactor's study include:
  • Real-time attacks from online banking trojans (ZeuS, Clampi, etc), also referred to as Man-In-The-Middle attacks, are seen as the greatest threat to online banking today for more than half (51%) of survey respondents, and 69% indicated an increase in the frequency of these attacks over the last 12 months. In fact, 37% of respondents reported that online banking trojans are the most prevalent type of attack at their bank.
  • Password phishing and pharming were a distant second with 24% of respondents believing password attacks to be the greatest threat to online banking. These attacks, however, continue to rage on. 55% of respondents indicated an increased frequency of these attacks over the last 12 months.
  • Online ACH and wire transfers were seen as being most vulnerable to attack with nearly one in three respondents rating these types of transactions as either "extremely" or "very" vulnerable.
  • There is still widespread misunderstanding about whether current security measures, such as one-time-passcodes, protect against today's top threats. Only 37% of respondents recognize that one-time-passcodes do not protect against ZeuS. Of those who recognize the weakness of these methods, 79% are either using today or plan to use next generation methods, such as out-of-band phone calls, transaction verification, and biometrics to protect against ZeuS.
"Password phishing attacks have plagued online banking for nearly a decade, but have been outpaced in the last year by a surge in real-time attacks from the likes of ZeuS, Clampi, and SpyEye, among countless other malware variants," said Steve Dispensa, Chief Technology Officer at PhoneFactor. "Banks are implementing a number of measures to strengthen the security of their online banking platforms, which is unquestionably good. Unfortunately, many don't understand the vulnerability of methods like one-time-passcodes, which these attacks easily circumvent. As banks become more educated, we expect them to move even more quickly toward methods like out-of-band authentication and transaction verification to protect against these threats."
PhoneFactor defeats online banking trojans like ZeuS by verifying account logins and transactions through an out-of-band channel -- the telephone network. PhoneFactor works by placing an automated voice call or sending a text message to the user's registered phone number to authenticate account logins, ACH transactions, wire transfers, bill payments, and account changes. The account holder simply answers a call or responds to the SMS text message from PhoneFactor to authenticate. Because confirmation is completed through the telephone network, PhoneFactor protects against attacks initiated by malware running on the user's computer as well as less sophisticated password phishing and pharming schemes. Real-time fraud notifications and voice biometric options are also available.
About PhoneFactorPhoneFactor is a leading provider of multi-factor authentication. The company's award-winning platform uses any phone as a second form of authentication. PhoneFactor's out-of-bandarchitecture and real-time fraud alerts provide strong security for enterprise and consumer applications. It's easy and cost effective to set up and deploy to large numbers of geographically diverse users. In 2010 PhoneFactor was named to the Bank Technology News FutureNow list of the top 10 technology innovators securing the banking industry today and was a finalist in the SC Magazine Reader Trust Awards. Learn more at www.phonefactor.com.
Contact:Alison Hill
Marketing Manager
ahill@phonefactor.com
(913) 499-4146



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Oberthur Technologies Says EMV Demand is Up in USA

Oberthur Technologies logoImage via Wikipedia

Oberthur Technologies Answering Card Issuers' Demands for EMV in the United States

Multiple EMV Launches Confirm U.S. Interest in EMV Migration
CHANTILLY, Va.--(BUSINESS WIRE)--Oberthur Technologies, the world's second largest provider of smart card based solutions to financial institutions and government agencies in the U.S., has seen an increase in EMV demand from card issuers in the United States over the last several months - a result of increased demand from disgruntled US travelers.
“we have the global experience coupled with U.S. based manufacturing capacity and card personalization solutions to deliver cards which meet issuers’ demands and cardholders’ needs.”

Multiple launches from leading financial institutions are currently underway, for early 2011 deployment. "The increased difficulty for U.S. travelers is evident,” said Martin Ferenczi, Managing Director of the Americas Region for the Card Systems Division at Oberthur Technologies, "more merchants in EMV countries are declining non-EMV cards for fear that they’ll be liable if any fraud occurs, so US travelers are often unable to use their non-EMV payment cards for a variety of products and services – creating unhappy customers at restaurants, railways stations and other establishments frequented by both business and vacation travelers.”
An October survey of North American financial institutions, conducted by ACI Worldwide, indicated that 57% of respondents admitted to having customer service issues with cardholders experiencing difficulties overseas.
Oberthur Technologies has issued over 600 million EMV cards globally and offers a comprehensive range of EMV payment solutions to meet clients’ needs, including contact, contactless and dual interface payment cards and prepaid cards. To lessen the technical hurdle associated with an EMV migration, Oberthur Technologies also offers EMV-in-a-Box, a fully integrated EMV migration solution and management program based on best practices gained by Oberthur Technologies’ work on more than 200 EMV projects worldwide. The EMV-in-a-Box program includes on-site consultation, EMV training, project management and technical support. The migration plan enables EMV cards to be issued within 12 weeks from project initiation.
EMV is a global specification for credit and debit payment cards based on chip card technology. The EMV standard, which offers enhanced security versus traditional magstripe cards, has widespread use and acceptance worldwide, excluding the United States.
Oberthur Technologies’ ISO 9001 certified manufacturing facility, in southeast Pennsylvania, has the capacity to produce over 20 million cards a month. EMV card personalization can take place at either of Oberthur Technologies’ two bi-coastal service centers, located in Los Angeles, California and Chantilly, Virginia.
“Oberthur Technologies is actively working with issuers to provide an EMV option for Americans traveling internationally,” said Ferenczi, “we have the global experience coupled with U.S. based manufacturing capacity and card personalization solutions to deliver cards which meet issuers’ demands and cardholders’ needs.”
About Oberthur Technologies
With sales of 904.6 million euros in 2009 and 6,160 employees worldwide, Oberthur Technologies is a world leader in the field of secure technologies. Innovation and excellence ensure Oberthur Technologies’ strong positioning in its main target markets:
  • Card Systems: World’s second largest provider of security and identification solutions and services based on smart card technologies for mobile, payment, transport, digital TV and convergence markets.
  • Identity: A world leader in the manufacture of traditional and electronic secure identity documents. We are also a system integrator and a specialist in know-how transfer - census, personalisation platforms implementation and identity data management.
  • Security Printing: World’s third largest private security printer specialized in the production of banknotes, checks and numerous security documents in more than fifty countries.
  • Cash Protection: World leader in design and manufacture of intelligent cash protection solutions for CIT (Cash In Transit) companies, ATM manufacturers and owners, retailers, post offices and banks.
Close to its customers, Oberthur Technologies benefits from an industrial and commercial presence across all five continents.
Oberthur Technologies S.A. is a limited liability company (société anonyme) registered in France with its headquarter office at 50 quai Michelet 92 532 Levallois Perret, France. Oberthur Technologies S.A.’s corporate registration number is 340 709 534 R.C.S. Paris.

Contacts

OBERTHUR TECHNOLOGIES
PRESS
Corporate:
Charlotte LAFONT-MACHIN
Telephone: +33 1 55 46 71 23
Email: c.lafont-machin@oberthur.com
or
Card Systems Division:
Leana Benson Hersch
Phone: +1 310 868 1318
Email: l.hersch@oberthur.com
Permalink: http://www.businesswire.com/news/home/20101208005109/en/Oberthur-Technologies-Answering-Card-Issuers-Demands-EMV



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Discover® U.S. Spending MonitorSM Reaches 3-Year High, Jumping 4.3 Points in November


Monitor's Rise Fueled by Brighter Economic and Financial Outlook among Consumers; Spending Intentions Significantly Different from a Year Ago
RIVERWOODS, Ill., Dec 08, 2010 (BUSINESS WIRE) -- Consumer confidence reached its highest point in three years and saw its biggest month-to-month increase since April as more Americans believe U.S. economic conditions are improving and their personal finances are getting better, according to the Discover U.S. Spending Monitor.
The Monitor, a poll of 8,200 consumers tracking confidence and spending intentions on a daily basis, rose 4.3 points in November to 91.8. Thirty-one percent of consumers feel economic conditions are improving, a 4-point increase from October. Forty-five percent of consumers feel economic conditions are getting worse, a 4-point decrease from October.
Consumers are feeling better about their personal finances, as well. Twenty-three percent, the most since February 2008, feel their finances are getting better, up 2 points from October and 4 points from 2009. For the second month in a row, fewer consumers report their finances are worsening; 45 percent say their finances are getting worse, down 2 points from the previous month and 4 points from last year.
Improved confidence among consumers is reflected in increased holiday spending intentions compared to this time last year, a hopeful sign for retailers looking to rebound from dismal holiday sales over the last two years.
9-Point Change in Holiday Spending Intentions Year-Over-Year
In 2009, two-thirds of consumers reduced their holiday spending budget, and half headed into the holidays looking to cut their discretionary spending. This year, the Monitor's numbers tell a different story.
The number of consumers who say they expect to spend less this holiday season has fallen 9 points from 2009. Last November, 65 percent of consumers said they were going to spend less on holiday gifts than they did the year before; only 56 percent feel that way this year. Of the nine percent who shifted, the majority said they would spend about the same, but one in four said they would be spending more.
Consumer Spending Intentions: Slightly More Discretionary Spending, Less Cutting Back
The Monitor reported a 12-point rise to 35 percent in the number of consumers intending to spend more next month. Heading into the holiday shopping season, the rise was not unexpected, as the Monitor reported similar increases during this time over the last three years. Nineteen percent plan to spend less next month, down 2 points from October and 1-point from a year ago.
But consumers' discretionary spending intentions are more upbeat compared to last year. In 2009, half of consumers went into December looking to cut discretionary spending. This year, many of them plan to either spend the same or more on discretionary purchases in the following areas:
  • Going out to dinner or the movies: 51 percent plan to spend the same or more next month, a 5-point increase from 2009. 47 percent plan to spend less next month, down 3 points from a year ago.
  • Home improvements: 47 percent plan to spend the same or more, up 4 points from last year. 48 percent plan to spend less, down 4 points.
  • Vacation or gym membership: 51 percent plan to spend the same or more, up 5 points from 2009. 46 percent plan to spend less, down 4 points.
"Consumer confidence in the economy and their personal finances is significantly better than a year ago," said Julie Loeger, senior vice president of brand and product management for Discover. "Their improved economic and financial outlook has resulted in far fewer consumers planning to cut their discretionary spending this year compared to 2009, encouraging news for retailers this holiday shopping season."
49% Have Money Left Over After Paying Monthly Bills
Better views from consumers about their personal finances may have to do with the fact that for the first time in four months, more consumers have money left over in their budgets after paying monthly bills. Forty-nine percent said they had money left over, tying a Monitor high for 2010. However, November marked the 20th consecutive month this number has been below 50 percent.
Eighty percent of those who do have money left over after paying monthly bills planned on having the same or more money left over than the previous month, the fourth straight month this number has equaled or topped 80 percent.
For the first time in five months, the Monitor reported an increase in the number of consumers expecting an income shortfall. The number reached 40 percent in November, rising 3 points from the previous month. In all likelihood, this is due to tighter budgets during the holiday shopping season. A similar rise was reported heading into the holiday shopping season last year.
For more Discover U.S. Spending Monitor survey data, charts and information, please visitwww.discoverfinancial.com/surveys/spending.shtml.
About Discover U.S. Spending Monitor
The Discover(R) U.S. Spending MonitorSM is a monthly index of consumer spending intentions and capacity that is based on interviews with a random sample of 8,200 U.S. adults conducted at a rate of 275 per night. In addition to spending, the survey asks consumers their opinions on the U.S. economy and their personal finances. The Monitor began in May 2007 with a base index of 100. Surveys are conducted by Rasmussen Reports, an independent survey research firm (www.rasmussenreports.com).
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discoverfinancial.com.
SOURCE: Discover Financial Services
Discover
Matthew Towson, 224-405-5649
matthewtowson@discover.com



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ViVOtech Launches World's First Customer-Facing Payment Acceptance and Promotion Device to Support Global Expansion of Contactless, NFC Mobile Payments


Next-Generation ViVOpay 8800e and 8100e Offers Global Merchants PCI 2.1 PIN-Compliant Platform to Accept EMV Smart Cards, Contactless and Magnetic Stripe Cards and NFC Mobile Payments, Plus Enables Mobile Marketing and Loyalty Program Delivery to Consumers 

CARTES & IDentification 2010

PARIS--(BUSINESS WIRE)--CARTES SHOW, ViVOtech Booth 4 N 036 — Silicon Valley-based ViVOtech, the leader in Near Field Communication (NFC) software and contactless NFC payment systems, today announced the global launch of its new breed of customer-facing payment acceptance devices, the ViVOpay 8800e for merchants. Featuring EMV chip, PCI 2.1 certification and built-in contactless NFC technology, the new fully featured ViVOpay 8800e device is equipped with a 16 million color HD display and tactile keypad enabling merchants around the world to accept EMV smart cards, contactless and magnetic-stripe cards, and handset-based NFC mobile payments. The same system also allows merchants to deliver personalized NFC mobile loyalty and marketing programs to their customers’ mobile devices.


“The ViVOpay 8000 series products integrate with both contactless NFC and EMV technologies, along with ViVOtech mobile loyalty and coupon software, providing merchants with long-term protection on their investments while enabling them to offer a high-value and interactive shopping experience for their customers.”

As the newest member of the ViVOpay 8000 series, the ViVOpay 8800e goes beyond the standard functionality of even the most advanced payment device by featuring built-in contactless NFC mobile acceptance support, versatile ViVOcommTM protocol and intelligent mobile loyalty software that enables merchants to offer mobile coupons, offers and loyalty programs to their customers that can drive more store traffic and create up-sell opportunities while customers are in store.

Using the convenient and powerful ViVOpay 8000 products, customers can redeem mobile coupons and promotions electronically with contactless or mag-stripe cards, contactless sticker-attached to existing phones or NFC-enabled mobile phones. As a result, customers enjoy a high-value shopping and payment experience with personalized and location-based services and offers delivered to them while they are shopping in merchant stores.

“With tens of millions of NFC mobile phones about to hit the market in 2011 and EMV continuing to gain traction in the U.S., merchants have to be ready for the surge with the right technology,” said Mohammad Khan, president and founder of ViVOtech. “The ViVOpay 8000 series products integrate with both contactless NFC and EMV technologies, along with ViVOtech mobile loyalty and coupon software, providing merchants with long-term protection on their investments while enabling them to offer a high-value and interactive shopping experience for their customers.”

Equipped with a powerful ARM9 processor, Linux operating system, integrated contactless NFC reader, magnetic-stripe reader and high-capacity memory, the new devices allow merchants to future-proof their investment for the next generation of customer-facing devices that will grow over time, driven by a highly mobile consumer base. ViVOpay 8000e products are EMV Chip card certified, PCI 2.1 certified for highly secured PIN entry of debit card transactions using an ADA-compliant keypad, and provide optional support for signature capture and end-to-end encryption for a wide variety of payment card transactions.

The ViVOpay 8000 products interface with the most popular POS and ECR systems used by retailers today, and post-deployment firmware updates via remote download keep the system current and compliant, while eliminating the need for additional hardware or device resetting.

ViVOtech will demonstrate its ViVOpay 8800e and ViVOpay 8100e solutions at the CARTES IDentification 2010 show in Paris, December 7-9 at booth # 4 N 036.

For more information, visit www.vivotech.com.

About ViVOtech

ViVOtech (www.vivotech.com) is the leading end-to-end enabler of next-generation NFC mobile payments, loyalty and marketing solutions – providing mobile wallet, patented Over-The-Air (OTA) provisioning, Trusted Service Manager infrastructure, NFC touch point (smart poster) management, and loyalty/coupon management software, and contactless NFC payment acceptance terminals. ViVOtech’s versatile software solution not only works with emerging NFC-enabled smartphones, but also with multiple existing mobile handset models including BlackBerry, iPhone, Android, and Nokia with add-on NFC accessories. ViVOtech products are used by prominent retailers, banks, processors, and mobile network operators all over the globe; the company has shipped more than 780,000 contactless NFC terminals to more than 35 countries. In 2009, ViVOtech received the prestigious Frost and Sullivan North American Smart Cards Product Line Strategy of the Year Award. In 2010, ViVOtech received the 2010 Mobility Award for its NFC mobile ViVOwallet software, Smart Card Alliance Award “Outstanding Smart Card Achievement” (OSCA) Award for Innovation in Payments Technology and the Contactless Intelligence “Monkey” Awards for Competitive Advantage through Technology used by Citi Tap and Pay NFC Pilot. ViVOtech’s investors include Citi, First Data Corporation, Motorola Ventures, NCR and Nokia Growth Partners.





Contacts




SS|PR
Kristin Miller
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Global Payments Closes on Five-Year $600 Million Credit Agreement


Global Payments Expands Financing Capability With New Credit Facility Agreement in Support of Growth Initiatives

 
ATLANTA, Dec. 7, 2010 /PRNewswire-FirstCall/ -- Global Payments Inc. (NYSE: GPN), a leading worldwide provider of electronic transaction processing solutions, announced today the closing of a five-year, $600 million revolving credit agreement with a syndicate of financial institutions.  The revolver agreement expires in December 2015 and carries a short-term variable interest rate plus a leverage-based margin.  In addition, the agreement allows the company to expand the facility size to $750 million by requesting additional commitments from existing or new lenders.
The revolver agreement replaces Global's existing $350 million revolver agreement that expires in November 2011. The company intends to use the credit facility to support strategic growth initiatives and general corporate purposes.
Global Payments' Executive Vice President and Chief Financial Officer, David E. Mangum, said, "We are pleased to expand the size of our credit facility while taking advantage of the strength in the capital markets to complete the financing.  We appreciate the strong support of our bank partners, which affords us the opportunity to maintain financial flexibility and pursue our strategic objectives."
Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Europe, and the Asia-Pacific region.  Global Payments, a Fortune 1000 company, offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management.  Visit www.globalpaymentsinc.com for more information about the company and its services.

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MasterCard Board of Directors Announces Regular Quarterly Dividend


PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Incorporated (NYSE: MA) today announced that its Board of Directors has declared a quarterly cash dividend to holders of shares of its Class A common stock and Class B common stock. The cash dividend of 15 cents per share will be paid on February 9, 2011 to holders of record of its Class A common stock and Class B common stock as of January 10, 2011.
About MasterCard Incorporated
As a leading global payments company, MasterCard Incorporated prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2009, $2.5 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 22 billion transactions each year and has the capacity to handle 140 million transactions per hour, with an average network response time of 140 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl™. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com.

Contacts

MasterCard Incorporated
Investor Relations:
Barbara Gasper, 914-249-4565
Investor_Relations@mastercard.com
or
Media Relations:
Chris Monteiro, 914-249-5826
Chris_Monteiro@mastercard.com



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MasterCard Teams with Hotels.com for Holiday Promo


Hotels.com and MasterCard Give Travelers an Early Gift for the Holidays

Hotels.com customers receive $50 discount for a future trip when they book two or more nights with a MasterCard® card now through December 31, 2010.

DALLAS, Dec. 7, 2010 /PRNewswire/ -- Hotels.com® is giving the gift of savings to travelers this holiday season with a $50 discount when they pay with a MasterCard® card now throughDecember 31, 2010, at select hotels.com Price Match Guarantee properties. The discount applies to a future stay of three or more consecutive nights, and hotels.com customers should use coupon code "MASTERCARD50" for a one-time discount of $50 when they make the reservation.
"Hotels.com and MasterCard have teamed up to offer travelers tremendous savings at thousands of properties worldwide," said Miguel Oliveira, hotels.com Director, Global Merchandising Strategy. "Travelers looking to book rooms in cities like San Francisco, Dallas and Philadelphia will be impressed by the large selection of properties available, and also by the number of hotels that offer the $50 MasterCard discount."
Rob Sheets, Group Head, Merchant Relations and Co Branding, U.S. Commerce Development, commented: "Thanks to hotels.com, this holiday season travelers will have more money to spend on gifts while sleeping in style by simply choosing to pay with a MasterCard card. MasterCard makes it easy to earn these great hotel rewards and gives travelers another reason to rely on a MasterCard card for all their travel and entertainment payment needs."
MasterCard Bookable Bargains
The Stoneleigh Hotel & Spa stands in the Uptown district of Dallas, Texas, close enough for guests to do-si-do to downtown nightclubs and bars. The hotel's chic signature restaurant, Bolla, features a $40 four-course pre-fixe menu and the popular Bolla "Happy Hour" always draws a lively crowd onto its sprawling patios. For guests looking to lasso an affordable and delicious Dallas cocktail this is the spot. Rates at Dallas' Stoneleigh Hotel & Spa start at $179 per night, and the property boasts a 96 percent approval rating according to hotels.com guest reviews.  
Guests are invited to party like it's 1776 and to step back into the age of Ben Franklin and Betsy Ross at Rittenhouse 1715, a boutique property older than the U.S. Constitution, located just steps from Philadelphia's historic treasures. This 23-room hotel exemplifies all the elegance and refined style of Philadelphia's most fashionable neighborhood.  Rittenhouse 1715 has an impressive 98 percent approval rating from hotels.com customers, and rooms start at $167 per night.
San Francisco is known for its hippies, distinctive Chinatown, wickedly winding Lombard Street, and world-famous gastronomical treasures sprinkled throughout funky and eclectic neighborhoods. Built in 1924 The Hotel Huntington in Nob Hill stands 12 stories tall and is close to downtown San Francisco, Chinatown and the Financial District – all within four blocks of the property. Rates start at $185 per night, and the hotel is 95 percent recommended by hotels.com users.
For more information about the MasterCard $50 discount, click here.



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