Tuesday, January 18, 2011

Your It...Cardlytics’ Rod Witmond Named TAG 2010 Tech Marketing Award Winner

ATLANTA--(BUSINESS WIRE)--Cardlytics, the pioneer of transaction marketing in banking, announced today that the Technology Association of Georgia (TAG), has named Cardlytics’ SVP, Rod Witmond, a winner of one of 2010 top Marketing Awards. The awards recognize Georgia-based technology marketers that demonstrate proven results and a track record of marketing innovation.
“Rod’s marketing acumen has propelled our business model into something relevant, creative yet simple to understand.” said Lynne Laube, president of Cardlytics. “Rod has played a key role in contributing to the sustained growth and level of success that Cardlytics has achieved over the past year, and we look forward to his continued leadership as we grow to reach over half of the nation’s households in the next 12 months.”Witmond, SVP, Product Management and Marketing, was awarded a “Corporate Marketer of the Year” award for his work with Cardlytics, where he is responsible for driving the company’s branding and marketing, as well as managing the company's media and analyst relations. During his time with Cardlytics, the company has grown its portfolio significantly and is now providing millions of offers to consumers throughout United States through their banking relationships.
Prior to joining Cardlytics, Witmond was senior vice president of Product Management and Marketing for Minneapolis-based Ceridian Corp. He has held additional executive-level marketing and operations positions for Paris-based Neopost, San Mateo-based eStamp, and was a principal consultant with PricewaterhouseCoopers’. A native of Great Britain, he served more than 11 years as an aviator and officer in the Royal Navy.
About Technology Association of Georgia
The Technology Association of Georgia (TAG) is a non-profit organization whose mission is to support its members by generating opportunities for personal, professional and business growth. By forging strategic alliances, TAG serves as a primary catalyst to foster a rich environment for economic development in Georgia's technology community. TAG is made up of over 10,500 members representing technology leaders from over 1,400 Georgia-based companies, affiliated technology and business organizations. For more information on TAG, visit www.tagonline.org.
About Cardlytics
Through a highly relevant, "market-of-one" approach, Cardlytics unites banks and merchants to provide rich rewards to customers based on their individual purchase behavior. Its technology tracks consumers’ actual purchases, providing the first digital channel that can guarantee offline sales and help consumers realize savings of hundreds of dollars per year on the products they purchase every day. The rewards improve consumers’ banking behavior by increasing usage, reducing attrition and strengthening engagement with online banking. Cardlytics’ multi-channel approach includes online banking, SMS, e-mail, mobile, online-mall and social networks. For more information about Cardlytics, visit www.cardlytics.com.


For Cardlytics
Heather Sugg, 813-374-6362
Alex Shorter, 678-781-7207
Permalink: http://www.businesswire.com/news/home/20110118006141/en/Cardlytics%E2%80%99-Rod-Witmond-Named-TAG-2010-Tech

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77% of UK Merchants Expect eCommerce Revenue to Increase in 2011, According to CyberSource Fraud Report


eCommerce growth anticipated but mis-aligned fraud management strategies could jeopardise revenue opportunities

READING, England--(BUSINESS WIRE)--Despite an overall challenging economy, UK merchants predict positive eCommerce growth in 2011 with only 2% expecting a decline. This is according to the seventh annual UK Online Fraud Report, an independent survey undertaken by CyberSource, a Visa Company (NYSE: V).
“However, merchants need to exercise due diligence and arm themselves with the right anti-fraud tools. There is no single approach – the merchant’s business model, sector and specific products and services should all play a part in the decision making process.”
In the face of this projected revenue growth, key fraud metrics have not improved for many survey respondents and in some cases are worsening. On average, 1.9% of 2010 orders accepted later resulted in fraud (compared to 1.6% in 2009), although this figure does vary by market sector. Furthermore, 59% of respondents expect fraud management budgets to remain stagnant in 2011, with 10% expecting to have less available.
Dr Akif Khan, co-author of the Fraud Report and Director, Products and Services at CyberSource, commented, “Merchants’ 2011 eCommerce growth predictions are certainly encouraging. However, as organisations look to drive more online revenue, it is vital that they address any vulnerabilities to protect themselves from fraud. With the majority of merchants not allocating any additional budget to manage the issue, businesses should focus on designing sustainable strategies that not only reduce fraud losses, but streamline the entire process.”
International Expansion Challenges Exist
Merchants continue to expand into new territories with nearly 60% of UK merchants now accepting online orders from abroad. The US has become an increasingly popular market for UK merchants in recent years – capitalising on a similar language and online buying culture. However, survey respondents have now ranked the US third, behind Nigeria and Ghana, as a likely source of fraud.
“Expanding into new geographies can be very attractive from a revenue perspective,” said Khan. “However, merchants need to exercise due diligence and arm themselves with the right anti-fraud tools. There is no single approach – the merchant’s business model, sector and specific products and services should all play a part in the decision making process.”
When asked to specify the range of order identifiers used to classify a country as ‘high risk’, 59% of merchants use the delivery address and 58%, IP address. Although both provide an insight into the purchaser, today’s fraudsters are better able to imitate legitimate transactions, and order characteristics like the IP address can appear valid unless deeper analysis takes place.
Evolving Business Threats
For the first time in the UK Online Fraud Report, systems uptime has been identified as one of the top two business concerns. Payment data theft is now seen as the third greatest business threat. Data security has been a major concern for merchants for many years, particularly given the number of high profile data loss incidents. However, as regulations such as PCI DSS evolve, businesses appear to be feeling more confident in the management of data security.
Online fraud remains the number one business threat. When asked why it was ranked so highly, 56% of respondents stated that they are spending too much by reviewing too many orders. Second to this is a concern about the overall revenue being lost to fraud (44%).
The Burden of Manual Review
The manual review process continues to represent a critical area of potential profit leakage. On average, merchants are reviewing 20% of incoming orders. However, 71% of reviewed transactions are ultimately approved, representing significant cost and time inefficiencies.
Respondents report that each reviewer analyses an average of 77 orders per day. This is even higher at very large businesses (>£25m annual online revenue); nearly a quarter indicated that each reviewer checks over 120 orders a day. Such merchants are more likely to employ case management systems to streamline the review process; 48% compared to the survey average of 37%.
Despite planned business growth, 75% of merchants expect to make no change to the size of their review teams in 2011. Attention should therefore centre on optimising workflows of the existing team. By consolidating order information, case management systems can boost the efficiency of the review process; 29% of merchants are expecting to implement such systems during 2011.
Khan concludes, “Merchants have demonstrated confidence in the ability of the online channel to deliver for them in 2011. However there is a risk that expectations may not be met if the appropriate investment is not made. To capitalise on the eCommerce opportunity, businesses should focus on streamlining internal fraud management processes. Improving automated detection and bolstering case management can help reduce the inefficiencies and enable merchants to make more accurate decisions.”
The report will be released on Tuesday 25 January 2010. To register for a copy of the report, please visit: www.cybersource.co.uk/fraudreportregisterJournalists or analysts please contact Helen Carroll on +44 (0)1628 628 080 or cybersource@noiseworks.com.
The seventh annual UK Online Fraud Report survey was conducted by research group Vanson Bourne and was commissioned by CyberSource Ltd. The survey was fielded from 6 September 2010 to 1 October 2010 and yielded 200 qualified responses. The sample was drawn from a database of companies involved in eCommerce activities. Incentives to respondents included entry into a prize draw for an iPad.
About CyberSource Ltd
CyberSource, a wholly-owned subsidiary of Visa Inc., is a payment management company. Over 300,000 businesses worldwide use CyberSource and Authorize.Net brand solutions to process online payments, streamline fraud management, and simplify payment security. The company is headquartered in Mountain View, California with international offices in Reading, UK; Singapore; and Tokyo. CyberSource operates in Europe under agreement with Visa Europe. For more information, please visit www.cybersource.co.uk.
© 2011 CyberSource Ltd, a wholly-owned subsidiary of CyberSource Corporation. All rights reserved.


Noiseworks for Cybersource
Helen Carroll
+44 (0)1628 628080
Permalink: http://www.businesswire.com/news/home/20110118005274/en/77-UK-Merchants-Expect-eCommerce-Revenue-Increase
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Paymetric Experiences Another Record Year in 2010

Companies Turn to the Leader in Integrated Payments and Tokenization to Tackle Compliance Requirements, Increase Security

ATLANTA--(BUSINESS WIRE)--Paymetric Inc., the leading provider of integrated and secure enterprise payment acceptance solutions, today announced that 2010 was another record year of sales. The company has seen its biggest year-to-date increase in revenue, new customers and product innovations. Deferred revenue increased 100% and total contract value grew 90% over the same period year-over-year. Paymetric also added a multitude of high-profile clients to the company’s impressive customer portfolio growing the number of newly-signed customers 60% over the previous year.
“entities that properly implement and execute a tokenization process to support their payment functions may be able to reduce the scope, risks and costs associated with ongoing compliance with the Payment Card Industry Data Security Standards.”
Paymetric’s growth continued to surge in 2010 because of heightened interest in tokenization delivered as an on-demand offering. Throughout 2010 multiple analyst firms endorsed the use of tokenization to protect stored cardholder data. The influential card brands also backed the technology as referenced in Visa’s Best Practices for Tokenizationwhich states that, “entities that properly implement and execute a tokenization process to support their payment functions may be able to reduce the scope, risks and costs associated with ongoing compliance with the Payment Card Industry Data Security Standards.”
“We are greatly encouraged by the tremendous growth we’ve seen this year, and fully expect the momentum to continue in 2011,” said Larry Wine, president and CEO of Paymetric. “The market opportunity for tokenization solutions remains bullish. Information technology and security executives are motivated to adopt the cutting-edge technology as a way to proactively address increasingly stringent compliance requirements, tighten the security of enterprise systems and create a safe harbor against state data security breach notification laws and other data security legislation. When they find out they can address all of those things by leveraging an on-demand solution that requires no capital investment, they tell us the decision is a no brainer.”
Paymetric also made 2010 a year of innovation. The company announced the release of Data Intercept Solutions for XiSecure On-Demand, a solution that completely eliminates raw cardholder data from entering enterprise systems altogether. If properly architected, the solution could qualify merchants for Self Assessment Questionnaire A (SAQ-A), reducing the number of compliance requirements from 205 to 14, a tremendous savings in both cost and time.*
“Minimizing PCI audit scope as much as possible is a high priority for all companies processing electronic payments,” said Asif Ramji, executive vice president and general manager, integrated payments. “No one wants to handle sensitive data if they don’t have to. That is why Data Intercept provides so much value; it shifts the liability to us, and significantly reduces the merchant’s risk.”
Paymetric’s XiPay On-Demand and XiSecure On-Demand solutions enable companies to manage, accept and integrate virtually every type of electronic payment originating from any enterprise system. Both solutions operate in an extremely secure, cost-effective way, utilizing Software-as-a-Service (SaaS) delivery and tokenization technology, respectively. Ultimately, Paymetric’s solutions lower the customers’ total cost of ownership (TCO) via:
  • Inclusive monthly service fee, reduced installation costs
  • Reduced billing, collection and administrative costs
  • Reduced customer attrition costs
  • Reduced interchange fees
  • Reduced IT costs
  • Minimized cost of compliance
* SAQ qualification can only be determined by a company’s QSA (qualified security assessor)
Paymetric, Inc. is the leading provider of integrated and secure electronic payment acceptance solutions that enable companies to streamline the order-to-cash process, reduce the scope and financial burden of achieving PCI compliance and improve return on electronic payment acceptance. Paymetric’s solutions support virtually every type of electronic payment in any enterprise system where payment is accepted. Paymetric is recognized as an industry leader and is a three-time award-winning SAP certified partner. Visit www.paymetric.com of follow us atwww.twitter.com/paymetric for additional information.


Jessica Wine, 678-984-4473

At A Glance

Paymetric, Inc.
Source: via Business Wire
Updated   02/25/2008   by company
Headquarters:Houston, Texas
CEO:Larry Wine
Permalink: http://www.businesswire.com/news/home/20110118005405/en/Paymetric-Experiences-Record-Year-2010

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Chase Paymentech Launches Safetech Fraud and Security Solutions

New Suite of Solutions Will Protect Merchants and Consumers from Fraud and Data Theft

DALLAS--(BUSINESS WIRE)--Chase Paymentech, a leading merchant acquirer and payment processor, announces the launch of Safetech™ Fraud and Security Solutions. This suite of services deployed separately or as a group, will ultimately protect merchants and their customers from the increasing risks associated with global online fraud and data breaches at the point of sale.
“Our Safetech Fraud and Security Solutions suite will provide our customers with the advanced tools they need to fight fraud, protect consumers’ information and reduce the exposure associated with Payment Card Industry compliance.”
The Safetech suite today includes Safetech Fraud Tools and Safetech Encryption. In the coming months, additional solutions will be introduced in response to the needs of Chase Paymentech’s broad and growing client base.
“Increasingly, our merchants are challenged with managing the risks associated with consumer transactions, whether online or at the point of sale,” according to Mike Duffy, president of Chase Paymentech. “Our Safetech Fraud and Security Solutions suite will provide our customers with the advanced tools they need to fight fraud, protect consumers’ information and reduce the exposure associated with Payment Card Industry compliance.”
Safetech™ Fraud Tools
Safetech Fraud Tools addresses a challenge that online merchants and billers experience every day; how to retain legitimate sales while preventing fraudulent transactions. According to industry sources, fraud losses in the U.S. for online merchants reached in excess of $3 Billion last year alone.
The Safetech Fraud Tools approach combines Chase Paymentech’s transaction processing expertise and scale with the patented technologies of Kount, Inc., a high-tech firm specializing in fraud detection technology. The solution represents a powerful Software-as-a-Service (SaaS) based application, including multi-layer device fingerprinting, proxy piercing, dynamic order linking, dynamic risk scoring, custom rules management and auto-decisioning. These applications provide a unique solution that can dramatically enhance a merchant’s risk management performance. Safetech Fraud Tools can be used effectively regardless of currency and payment method, simplifying the cost and complexity of merchant’s global fraud management initiatives.
Safetech™ Encryption
Data breaches are damaging to consumers and expensive for merchants. The average cost per compromised customer record can now reach $305, according to Forrester Research. Safetech Encryption represents breakthrough technology designed to block data theft by masking cardholder data at the point of the swipe and keeping it encrypted throughout the retailer’s network.
Available to Chase Paymentech U.S. point-of-sale retail customers, Safetech Encryption, developed in partnership with VeriFone Systems, Inc. (NYSE: PAY), rivals other technologies on the market today. By encrypting data as it enters the point of sale, rather than later in the payment application, the solution delivers a solid data security that may help merchants reduce the scope of their compliance liabilities and avoid the costs of data theft.
“Chase Paymentech is wise to bring together these much needed solutions to their merchants,” said Carol Coye Benson, managing partner at Glenbrook Partners. “We now live in a world where managing risks associated with payment fraud and data security is part of the daily routine for merchants everywhere. By closely integrating these tools with the payment processing work streams, the Safetech approach makes the process more efficient.”
For more information about Safetech, please visit www.chasepaymentech.com.
About Chase Paymentech Solutions
Chase Paymentech, a subsidiary of JPMorgan Chase (JPMC) is a global leader in payment processing and merchant acquiring, capable of authorizing transactions in more than 130 currencies. The company’s proprietary platforms provide access to a wide variety of payment methods, such as credit cards, debit cards, prepaid stored value cards and electronic check processing. In 2009, Chase Paymentech processed 18.0 billion transactions with a value of $409.7 billion, including an estimated half of all global Internet transactions. The company also provides a full set of solutions aimed at accelerating cash flow and managing transaction data. On the Internet or at the point of sale, Chase Paymentech’s unique combination of outstanding service, innovative solutions and financial strength offers solid benefits to companies both large and small. More information can be found at www.chasepaymentech.com.


Chase Paymentech
Greg Myers
1-214-849-3206 or 1-214-738-0406
Permalink: http://www.businesswire.com/news/home/20110118005145/en/Chase-Paymentech-Launches-Safetech-Fraud-Security-Solutions

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Citigroup Reports Full Year 2010 Net Income of $10.6 Billion

Compared to a Net Loss of $1.6 Billion or $0.80 Per Share in 2009

  • Fourth Quarter 2010 Net Income of $1.3 Billion or $0.04 Per Share Compared to a Net Loss of $7.6 Billion or $0.33 Per Share in the Fourth Quarter 2009
  • Fourth Quarter Included Negative CVA of $1.1 Billion Pre-Tax Due to Citi Spreads Tightening
  • Fourth Consecutive Profitable Quarter
  • Fourth Quarter 2010 Revenues of $18.4 Billion; $86.6 Billion for Full Year 2010
  • Tier 1 Common of $105 Billion, Tier 1 Common Ratio of 10.7%
  • Allowance for Loan Losses of $40.7 Billion
  • Citi Holdings Assets of $359 Billion, Down 26% from the Prior Year
  • Citicorp Full Year Revenues of $65.6 Billion, Net Income of $14.9 Billion
NEW YORK--(BUSINESS WIRE)--Citigroup Inc. today reported fourth quarter 2010 net income of $1.3 billion, or $0.04 per diluted share, compared to a net loss of $7.6 billion, or $0.33 per diluted share, in the fourth quarter 2009. Citigroup net income for full year 2010 was $10.6 billion, or $0.35 per diluted share, compared to a net loss of $1.6 billion, or $0.80 per share, in the full year 2009.
“We have the right strategy for our company’s present and future and are executing it with discipline. Although the economic environment remains uncertain, our future path is clear: As America’s global bank, we’ve built a foundation capable of producing sustained profitability and our next goal is to achieve responsible growth”
Citigroup revenues in the fourth quarter 2010 were $18.4 billion and included negative CVA of $1.1 billion. Excluding CVA, revenues of $19.5 billion were down 6% from the prior quarter, principally driven by lower Securities and Banking revenues and lower gains on sale of AFS securities in Corporate/Other.
Citicorp's net income remained strong in 2010 at $14.9 billion, while Citi Holdings net loss decreased 52%, from $8.9 billion to $4.2 billion, when compared to 2009. Citi Holdings' assets stood at $359 billion at the end of 2010, down from $487 billion at the end of 2009. This performance helped Citi to continue to improve its capital strength, as its Tier 1 Common ratio increased from 9.6% to 10.7% over the course of the year.
“2010 was a year full of milestones and was critical for the turnaround of this institution,” said Vikram Pandit, Chief Executive Officer of Citigroup. “Our goal was to achieve consistent profitability and I am very pleased that with our fourth consecutive profitable quarter, we earned $10.6 billion for the year.
"Our core businesses in Citicorp, with its deep roots in both the developed and emerging markets, performed well throughout the year while we made targeted investments in talent and technology. At the same time, we continued to wind down Citi Holdings in an economically rational manner, reducing assets by $128 billion in 2010 alone. Holdings’ total assets have declined by more than half from their peak in 2008 to $359 billion and now stand at less than 20% of our balance sheet.
“We have the right strategy for our company’s present and future and are executing it with discipline. Although the economic environment remains uncertain, our future path is clear: As America’s global bank, we’ve built a foundation capable of producing sustained profitability and our next goal is to achieve responsible growth,” concluded Mr. Pandit.
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Elephant Talk Subsidiary ValidSoft Announces Commercial Release of Four-Factor Authentication Solution

SOURCE: Elephant Talk Communications
Jan 18, 2011 04:00 ET

LONDON--(Marketwire - January 18, 2011) - ValidSoft Limited, a wholly owned subsidiary of Elephant Talk Communications, Inc. (OTCBBETAK) (www.elephanttalk.com), is warning consumers that from today, January 18th, Belgian Maestro users may be unable to use their debit card when travelling abroad. According to press report quoting the Minister of Economic Affaires, Vincent Van Quickenborne, http://www.hln.be/hln/nl/943/Consument/article/detail/1207013/2011/01/12/Debetkaarten-niet-meer-bruikbaar-buiten-Europa.dhtml, the measure has been taken in an effort to prevent fraud resulting from card skimming which has risen over 750% in the last 3 years. Fraudsters are easily able to copy the magnetic strip of a debit or credit card, and there have been high profile news reports of data thefts around the world where fraudsters have got hold of large numbers of card details and PINs. Fraudsters then use these fake cards to pay for goods or services or get cash from ATMs.
The report states that the measure being introduced means that Belgian debit cards will now only be accepted in 56 countries within and around Europe that use Chip and PIN enhanced security, but not in the US, Canada and China, to list some examples of exclusions. According to Spaargids.be, approximately 12 million Maestro users in Belgium could be impacted by the measure, which has the potential to cause significant headaches for Belgian consumers and the 22 issuing banks that are introducing the measure.
"Belgian banks are clearly very worried about the rapid rise in card fraud," said Bennie Peleman, Vice President, ValidSoft. "Fraud creates major headaches for banks; they generally have to foot the bill for fraud and call centres are overwhelmed with 'false positives' from customers who have had cards blocked when they are on holiday or travelling for business," explains Peleman.
But payments companies and card issuing banks now have sophisticated new technology to fight back. ValidSoft, a leading provider of electronic fraud detection and prevention solutions, specializes in card related fraud prevention.
"We are actively targeting the Belgian market with our flagship card fraud prevention solution, VALid-POS®," says Peleman. "Card fraud has become a global concern recognized by leading banks worldwide. The measures taken in Belgium, although perhaps drastic, are understandable and definitely reflect a primary objective in protecting their customers' interest. It is our strategic objective to contribute in restoring the confidence in both card present and card not present transactions into the financial services markets worldwide."
VALid-POS® works by correlating the origination of a purchase or withdrawal using a card to the proximity of the card owner through the card owner's cellphone in less than half a second so banks can check the legitimacy of the transaction before it completes, and stop it if they suspect fraud. In the absence of VALid-POS®, banks try to spot fraud by comparing new purchases to past spending patterns. If a card typically used in Belgium is suddenly buying computers in California, that's suspicious.
The problem for banks is that comparing the current transaction to traditional spending patterns is fundamentally inaccurate. Worse, banks can't typically carry out this check fast enough, so driven by the need to prevent fraud, they actually end up declining the transaction, or in the case of the Belgian market completely disallowing the transaction. Denying a legitimate transaction is termed a "false positive" and 90% of the transactions flagged as suspicious are actually legitimate. Trying to contact card owners to eliminate these so-called 'false positives' is a huge expense and headache for banks. Banks often cut off credit cards because transactions look suspicious, only to be left with irate customers.
"The cost to banks runs into billions of euro a year," says Peleman. ValidSoft's system not only spots the fraudulent transactions, it virtually eliminates the false positives. "We change the 90% failure rate in identifying fraud into a 90%-plus success rate," explains Peleman. "We've been able to completely change the model of how risk can be managed."
VALid-POS® was awarded the European Privacy Seal in March 2010, https://www.european-privacy-seal.eu/awarded-seals/valid-pos, certifying its compliance with European Data Protection law and enabling Issuing Banks to implement on an "Opt-Out" basis only. ValidSoft is the first, and remains the only, security software company in the world to be awarded the European Privacy Seal for its flagship card fraud detection and prevention solution.
Mr. Peleman continued, "The problem for the Belgian banks is the negative consumer impact, potential customer churn and revenue loss through disallowing millions of international transactions that generate lucrative interchange fees for the banks. However, with VALid-POS®, banks can be secure in the knowledge that card fraud and false positives can be virtually eliminated, their revenue streams intact and their customers protected." 
About ValidSoftValidSoft Limited, headquartered out of Tullamore, Ireland, is a wholly owned subsidiary of Elephant Talk Communications, Inc. (OTCBBETAK), and is a market leader in providing solutions to counter electronic fraud relating to cards, the internet, and telephone channels. ValidSoft's solutions are telecommunications based and are at the cutting edge of the market, utilising their access to the most sophisticated global telecommunications networks and expertise. The solutions are used to combat card-present and card-not-present fraud as well as electronic fraud on all channels, including the most advanced fraudulent attacks such as Man-in-the-Browser. The solutions are designed for mass markets, in a highly cost effective and secure manner, yet are easy to use, intuitive and leverage the most ubiquitous devices available. For more information please visit www.validsoft.com.
VALid-POS® was awarded the European Privacy Seal in March 2010, certifying its compliance with European Data Protection law and enabling Issuers to implement on an opt-out basis only -- ValidSoft is the only Security Software company in the world to be certified to EuroPriSe standards and successfully renewed the European Privacy Seal for VALid-POS® in December 2010:http://www.elephanttalk.com/images/upload/ETAK%20-%20EuroPrise%20Seal%20Renewal%20-%20FINAL.pdf.
About Elephant Talk CommunicationsElephant Talk Communications, Inc. (OTCBBETAK) is an international provider of business software and services to the telecommunications and financial services industry. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information visit www.elephanttalk.com.

Communications Contacts:Elephant Talk Communications, Inc
Steven van der Velden
Tel: + 31 20 653 59 16
E-mail: Email Contact

Investors:Alliance Advisors, LLC
Thomas P. Walsh
Tel: + 1 212-398-3486
Email Contact
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MasterCard Banks on Ties with China UnionPay

 MasterCard Seeks to be a Debit Player in China 
 (from Arstechnica at 18-1-2011) 
* Financial services market to grow at least 15 pct this yr* China UnionPay has 1.4 billion debit cards in circulation
By Terril Yue Jones
BEIJING, Jan 17 (Reuters) - MasterCard Worldwide's partnership with China UnionPay, the country's lone bank card transaction processor, will help it become a player in China's $3 trillion personal consumption market in five to 10 years, the head of MasterCard in China said on Monday. The financial services market, including banks and payment cards, will grow at least 15 percent this year, Ling Hai, MasterCard's president for the Greater China region, said in an interview.... read more»

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