Monday, January 24, 2011

Mung-Ki Woo to Lead Global Mobile Team at MasterCard Worldwide

Industry Veteran Joins Leadership Team to Focus on Strategic Priority

PURCHASE, N.Y--(BUSINESS WIRE)--MasterCard Worldwide today announced that Mung-Ki Woo is joining the company as Group Executive, Mobile, effective January 24, 2011. Woo will have global responsibility for innovation, commercialization and development of go-to-market strategies to support mobile payments around the world.
“Mobile is a critically important strategic initiative for MasterCard and we are excited to have Mung-Ki join our team as we continue to deliver innovative mobile solutions to the global marketplace”
“Mobile is a critically important strategic initiative for MasterCard and we are excited to have Mung-Ki join our team as we continue to deliver innovative mobile solutions to the global marketplace,” said Ed McLaughlin, Chief Emerging Payments Officer, MasterCard Worldwide. “Consumers are quickly growing more comfortable with using their mobile devices for search, shopping and payments. With extensive knowledge of the telecommunications landscape, Mung-Ki will enhance our global perspective and lead MasterCard’s future growth in mobile commerce.”
Most recently, Woo was Vice President of Electronic Payments & Transactions at the France Telecom - Orange Group, where he led the development of the “Orange Money” mobile payment program, which at the end of 2010 was commercially available in several African countries. He was also responsible for commercial deployment of Orange’s mobile contactless services in their major European markets. Previously, he was Chief Technical Officer of a French interbank organization specialized in electronic money systems.
Woo is a graduate of Ecole Polytechnique and Ecole Nationale Supérieure des Télécommunications. He will be headquartered in Purchase, New York.
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, 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 Follow us on Twitter: @mastercardnews.


MasterCard Worldwide
Media Relations
Erica Harvill, 914-249-6848
Investor Relations
Barbara Gasper, 914-249-4565
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Cybercriminals Switching Focus to Smartphones and Tablets, Away from PC's

Cisco report notes new cybercrime targets
(from Network World on 1- 24-2011)
Cybercriminals are shifting their focus to smartphones and tablets, and away from Windows-based PCs, as targets for their scams, according to a new security report from Cisco released this week. Scammers are finding it harder to infiltrate Windows-based PCs, which they have targeted for the past decade, because vendors have bolstered security on those platforms and been more aggressive in general in patching vulnerabilities. This has driven cybercriminals to other platforms, specifically mob... read more»

Key Highlights

  • Spam: 2010 marks the first year of declining spam volume in the history of the Internet. Despite this good news, 2010 saw an uptick in spam in developed economies where broadband connections are spreading, including France, Germany and the United Kingdom. In the United Kingdom, for example, spam volume rose almost 99 percent from 2009 to 2010. The good news is that Brazil, China and Turkey — all of which figured high on last year's list of spammed nations — showed significantly lower volumes in 2010. In particular, Turkey's spam volume dropped 87 percent. This reduction is due in part to the high-profile takedowns of botnets like Waledac and Pushdo/Cutwail, attributed largely to researcher Thorsten Holz (see the Cisco Cybercrime Showcase) and ISPs restricting malicious e-mail from broadband networks. In addition, authorities are taking the spam problem more seriously and are looking to take down egregious offenders.
  • Money Muling: As the cybercriminal economy expands and criminals gain access to even more financial credentials, there is a growing need for money mules — people recruited to set up bank accounts, or even use their own bank accounts, to help scammers "cash out" or launder money. Money muling operations are becoming more elaborate and international in scope, and Cisco security experts anticipate they will be a major focus of cybercriminal investment in 2011.
  • Trust Exploitation: Most cybercrime exploits hinge not only on technology but also on the all-too-human tendency to misplace trust. The Cisco Annual Security Report lists seven "deadly weaknesses" that cybercriminals exploit through social engineering scams — whether in the form of e-mails, social networking chats or phone calls. The seven weaknesses are sex appeal, greed, vanity, trust, sloth, compassion and urgency.
  • Cisco Global ARMS Race Index: Cisco's Global Adversary Resource Market Share (ARMS) Race Index was designed to track the overall level of compromised resources worldwide and, over time, to provide a better picture of the online criminal community's rate of success at compromising enterprise and individual users. According to data collected for the 10-point index, the level of resources under adversarial control worldwide at the end of 2010 was down almost a half a point from the December 2009 level of 7.2 reported in the Cisco 2009 Annual Security Report.
  • The 2010 Cisco Cybercrime Showcase: The second annual Cisco Cybercrime Showcase presents two awards for 2010 — one acknowledging the outstanding contributions of a security professional in the fight against cybercrime (the "Good," Thorsten Holz, Ruhr-University Bochum, Germany/LastLine), the other the most threatening malware (the "Evil," Stuxnet).
  • Cisco Cybercrime Return on Investment (CROI) Matrix: The Cisco CROI Matrix, which made its debut in the Cisco 2009 Annual Security Report, analyzes types of cybercrime that Cisco's security experts predict profit-oriented scammers will channel their resources toward in 2011. Based on performance in 2010, the matrix predicts that the data-theft Trojans such as Zeus, easy-to-deploy Web exploits, and money mules will continue to rise in prevalence in 2011. The "wait and see" moneymakers include mobile malware, with Zeus already being adapted for the mobile platform in the form of SymbOS/Zitmo.Altr ("Zitmo" stands for "Zeus in the Mobile"). Social networking scams, on the other hand, will not be a significant area for cybercriminals to invest resources in 2011, despite ranking in last year's report in the Potentials category. That does not mean that social networking scams are declining; they are simply a small part of a bigger plan — launching Web exploits like the Zeus Trojan.
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Online Spending hits $58.8 Billion in 2010

Online spending hits 58.8bn in 2010
(from ComputerWeekly on 1-24-2011)
Internet sales hit a record 58.8bn in 2010, an increase of 18% on the previous year - outstripping analysts' forecasts of a 13% growth rate. December also saw record sales growth of 25% compared to the same month in 2009, reaching a total spend 6.8bn, according to the IMRG and Capgemini online shopping index. The results follow warnings from analysts that the snow had an impact on sales for the sector, with delivery problems affecting consumer confidence.... read more»

IMRG Capgemini e-Retail Sales Index: January 2011

Cold snap rounds off an impressive 2010 with a record high
• £6.8 billion spent online during December: equates to a 7% monthly increase and an increase of 25% year-on-year
• £58.8 billion spent online in 2010; 18% increase on previous year
• Clothing and alcohol retailers see strongest growth
• Forecast for 2011: 18% growth and approx £69 billion in total e-retail sales
21st January 2011:  The latest figures from the IMRG Capgemini e-Retail Sales Index reveal that shoppers in the UK spent a total of £6.8 billion online during December, equivalent to £111  per person. Sales were up by 7% on November and by 25% on December 2009, with the Index value reaching a record high.
The results round off what has been an impressive year for online retail. A total of £58.8 billion was spent online in 2010, which resulted in the Index increasing by 18%, far outstripping the original prediction of 13%. For 2011, IMRG and Capgemini have predicted the Index will see a further 18% growth, with total e-retail sales estimated to be worth £69 billion.
The December figures showed that despite the dire predictions during the run up to the festive season, online retailers had a very successful Christmas, resulting in an above average year-on-year growth in nearly all sectors. This impressive growth can be attributed to two major factors, the impending increase in VAT and of course the coldest recorded December in the UK for 100 years .
It seems that as the snow fell, shoppers across the country opted to buy online, instead of battling the elements to the high-street. This trend had a positive impact for all online traders, including those with a multi-channel proposition; House of Fraser reported 120% growth in online sales compared to the same period the year before. Similarly, John Lewis and Marks & Spencer reported exceptionally strong results.
In terms of specific sectors, the harsh conditions had an inevitable impact in sales for clothing, footwear and accessories. As the country looked to wrap itself up in winter coats and chunky scarves, the sector saw a year-on-year increase of 40%: the strongest growth for this sector for 19 months. Clothing retailers also experienced a massive 50% leap in conversion rate, suggesting consumers are not just surfing the net to window shop, but researching the best price and placing an order.

Another noteworthy sector is alcohol, which, in keeping with the festive and party season, saw the largest growth, boasting a massive month-on-month leap of 32%. What’s a little less expected is the year-on-year growth as the sector saw a significant 36% increase from December 2009.
Chris Webster, head of retail consulting and technology at Capgemini says: “Online sales in December have grown again off the back of a very impressive November. This is down to two main reasons. Firstly, the spike in sales can be attributed to the season; not only is it traditionally the strongest month for retail but coupled with the heavy snow fall clearly led to many consumers staying at home to do their Christmas shopping. Secondly, the ongoing trend of consumers putting down the car keys and turning on their computers is only set to continue particularly as consumers use the power of the web to make their money go further as the economy recovery remains fragile.”
James Roper, Chief Executive at IMRG, commented: “December saw an incredible jump in online sales as a result of the weather conditions and it’s reassuring to see that despite the coverage of delivery problems, consumer confidence was not affected. Growing confidence and reliance on e-retail during times of adversity, whether that’s harsh weather conditions or belt-tightening as a result of the economy, has been reflected in the impressive growth throughout 2010.”
% Change Nov 10 – Dec 10
% Change Dec 09 – Dec 10
Beers, Wines and Spirits
Clothing, Footwear and Accessories
 - Accessories
 - Footwear
Health and Beauty

Industry quotes
Jonathon Brown, head of online selling at John Lewis, said: "We've had an outstanding Christmas and Clearance period in 2010, and there's no doubt was a vital part of that success. Online sales for the five weeks to 1st January 2011 were 42% up on last year, and it was particularly pleasing to have achieved several trading records. We have also now passed the £500m mark for online sales for the year.
"The hard work our team put in over the year to develop the website really paid off, especially when snow affected trade at many of our branches. The increase in online sales, especially during the adverse weather in early December, demonstrated just how important the website has become to our customers."

Francesca Krajewski, Head of Communications at Naked Wines, comments: “We had a strong festive period at Naked Wines, with sales up 100% on last year -  and over 35,000 cases shipped in the first three weeks of December alone. 99.4% of all orders were delivered when promised, thanks to a sterling job by Parcelforce our carrier.

"Since launch, we’ve seen a 100% growth year-on-year with sales of over £15 million. To make our mark , we knew we had to offer both consumers and producers a game-changing model – and by inviting UK wine drinkers to invest in their wines before they’ve been made, we’ve attracted over 100,000 customers in our first two years of trading. The website, which is hybrid of social network and wine merchant, also offers customers and winemakers a platform to interact and shape the direction of the business - and with a £10 million investment pot to invest in new winemakers, we’re forecasting strong growth and an exciting year ahead.”

Phillip Rinn, Director of Advertising Partnerships for eBay Advertising in the UK and Ireland, comments: “The latest IMRG Capgemini e-Retail Sales Index reflects that Christmas 2010 was a bumper festive period for online retailing in the UK.  That online shopping saw a 25% growth on December of the previous year, highlights the level to which UK consumers migrated to the virtual high street during the poor weather. Indeed, online clothing retailers saw a 40% year-on-year sales increase and perhaps more impressively, a 50% leap in conversion rates, illustrating that the internet is increasingly becoming the place where consumer browse, research and indeed buy items of clothing. As we progress through 2011, brand marketers should be aware of the potential to reap the benefits of advertising on e-commerce sites, which allow them to reach consumers who have high purchase intention at a time when the VAT hike and rising inflation are likely to squeeze consumer spending.” 

Mark Lewis, CEO of Collect+, comments: “The soaring volumes for Collect+ this Christmas reflect the true demand for flexibility and convenience in returns and deliveries. A combination of the snow and changing shopping habits meant that purchases were made later than ever this year, and we were pleased to be able to provide our retail partners with a new and effective way of keeping their delivery promises and maintaining a returns service in the face of bad weather.”
Bruce Fair, Managing Director at Kelkoo, comments: ‘’More than a third of British consumers admitted to buying items early to beat the January VAT increase which will have contributed to last month’s strong sales across the sector. This coupled with a natural peak in sales over the festive season and December’s adverse weather conditions saw online retailers reaping the rewards as more people than ever before bought their goods online. However, the retail industry is moving into a difficult period following the VAT increase - our research predicts that consumers are expected to reduce their annual spending by £324 this year – so online retailers need to ensure they’re offering the most competitive deals in the market to avoid seeing a sharp drop in consumer spending.”

Bjorn Kvarby, European Managing Director,, comments: “Technology, fashion and home improvements were key drivers making 2010 a bumper year for, seeing overall growth in December at an average 24% year-on-year. Despite the recession leading to conservative forecasts for 2010, consumers proved that although they may be watching the pennies, they are becoming cannier that ever, attracted to the money and time savings they find when shopping online.  Innovative product launches like the iPad have re-ignited consumer interest in the latest technology gadgets, with eBooks and Tablet PCs accelerating growth of our computer category at 50% year-on-year. Secondly, fashion leaped forward with average growth of 45% in December, year-on-year. Finally, with the uncertain property market, consumers turned to updating their homes themselves, with building supplies and home furnishing achieving average growth of 43% year-on-year. The momentum behind online shopping means we’re remaining quietly confident for 2011.
Notes to Editors
About IMRG
IMRG (Interactive Media In Retail Group) is the industry body for global e-retail. Formed in 1990, IMRG is setting and maintaining pragmatic and robust e-Retail Standards to enable fast-track industry growth, and facilitates its community of members with practical help, information, tools, guidance and networking. Consumers can be confident when dealing with IMRG Members because all have committed to operate using methods that are Honest, Decent, Legal, Truthful and Fair, and have undertaken to not bring the industry into disrepute. The strength of IMRG is the collective and co-operative power of its members.
About Capgemini
Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, enables its clients to transform and perform through technologies. Capgemini provides its clients with insights and capabilities that boost their freedom to achieve superior results through a unique way of working, the Collaborative Business ExperienceTM. The Group relies on its global delivery model called Rightshore®, which aims to get the right balance of the best talent from multiple locations, working as one team to create and deliver the optimum solution for clients. Present in more than 30 countries, Capgemini reported 2009 global revenues of EUR 8.4 billion and employs 90,000 people worldwide.
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