Thursday, February 10, 2011

Global Card Fraud Rising says ACI

Global card fraud on the rise - ACI
(from Finextra on 2-10-2011)
Research Now quizzed 4200 people in 14 countries for the vendor. In the eight countries also covered in a survey in mid-2009, there was a 60% jump to 29% of respondents. In the UK, the percentage is even higher, at 33%, up from 27% only 18 months ago, which means an estimated 14.6 million UK consumers have been the victims of card fraud in the last five years. Across all 14 countries, 41% would change or consider swapping their financial institution as a result of being a victim of card fr... read more»
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DeviceFidelity to Demo Full NFC Support on iPhone 4 at MWC 2011

New microSD solution featuring technology from NXP brings reader capabilities and enhanced software for secure mobile phone transactions

Mobile World Congress 2011
DeviceFidelityRICHARDSON, Texas--(BUSINESS WIRE)--DeviceFidelity will demonstrate the newest version of its In2Pay™ technology at the Mobile World Congress 2011 in Barcelona, February 14-18. In2Pay V3, which will be shown on iCaisse4 for iPhone 4, not only transforms a mobile phone into a “mobile wallet,” allowing users to make payment transactions with their handsets, it brings additional NFC capabilities to the mobile device, delivering contactless reader and Peer to Peer transaction capabilities. These features enable users to scan smart posters and electronic coupons, upload the information to their mobile phones, and apply discounts at the time of purchase. These features also allow mobile merchants to use the iCaisse4 as a Mobile POS terminal to accept the various types of contactless cards issued all over the world. In2Pay V3 utilizes on board near field communication PN series NFC controller and SmartMX secure element from NXP Semiconductors.
“DeviceFidelity has shown a commitment to innovation and is clearly championing the widespread adoption of NFC. We look forward to working with them to bring NFC to more people across the globe.”
“Enthusiasm for mobile transactions is growing around the world,” said Deepak Jain, DeviceFidelity President and CEO. “As part of our commitment to providing users with greater convenience and security, we’re proud to announce the world's first microSD device offering full and secure NFC functionality. We’re also excited to be demonstrating the new In2Pay V3 features at Mobile World Congress, confirming that DeviceFidelity is taking the mobile wallet to a whole new level, making it more flexible, secure and easier to use.”
DeviceFidelity is also proud to announce that the company has joined the NFC Forum (http://www.nfc-forum.org), an organization that promotes the use of Near Field Communications technology by developing specifications, ensuring interoperability, and educating the market. NXP is one of the founding members of the NFC forum, and several key DeviceFidelity partners are already members.
“By expanding our partnership with NXP and participating in the NFC Forum, we hope to work hand in hand with key industry stakeholders to accelerate the adoption of NFC,” says Deepak Jain, DeviceFidelity. “We have already spearheaded the emergence of the microSD platform as a key market mover, enabling the NFC ecosystem to move from pilots to commercial launches. Now we plan to seek endorsement of the microSD platform as an attractive long-term alternative to NFC deployments that has significant advantages in time to market and flexibility. By enabling the handsets preferred by consumers with NFC functionality, we can let the industry create its own business models for mobile transactions and thereby realize the full potential of NFC.”
The In2Pay V3 microSD device will be available for deployments in March 2011. The solution will also be soon available for handset makers and wireless carriers to incorporate into their programs on other operating platforms such as Android, Blackberry OS and Windows Mobile.
“As a proven innovator of NFC technology and the market leader in smart card security with our SmartMX range of secure microcontrollers, NXP is pleased to be working closely with DeviceFidelity to bring a leading portfolio of plug and play secure NFC solutions to the market,” said Henri Ardevol, vice president and general manager, Secure Transactions, NXP Semiconductors. “DeviceFidelity has shown a commitment to innovation and is clearly championing the widespread adoption of NFC. We look forward to working with them to bring NFC to more people across the globe.”
DeviceFidelity has worldwide patents pending on use of the microSD technology as a plug and play NFC module with all the necessary hardware and software integrated within itself, allowing secure NFC implementations on smart-phones without complex integration requirement by handset OEMs. In addition, DeviceFidelity's patent on iPhone accessory packing NFC functionality is expected to be granted this year in the USA, Turkey, UK, Canada, China and several more countries.
DeviceFidelity's In2Pay V2 became the world's first commercially type approved solution by VISA in Dec. 2010 and is currently in various stages of rollout with issuers worldwide, including some of the largest banks, wireless carriers and payment networks.
About DeviceFidelity
DeviceFidelity, Inc. develops plug-and-play technologies that empower a variety of institutions to deploy their services and applications on millions of mobile phones worldwide. Its patent-pending In2Pay microSD and In2Pay iCaisse solution transforms popular mobile phones into an interactive contactless transaction device. Committed to bringing contactless innovation to the mobile phone, the company has numerous patents pending in both U.S. and international patent offices. DeviceFidelity is a private corporation with headquarters in Richardson, Texas and offices in San Mateo, California and New York. For more information, go to www.devicefidelity.com.

Contacts

DeviceFidelity
Stephanie Fulqui, 650-866-5333
Marketing Manager
Stephanie.fulqui@devicefidelity.com
Permalink: http://www.businesswire.com/news/home/20110210005393/en/DeviceFidelity-Demo-Full-NFC-Support-iPhone-4
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VeriFone’s VeriShield Total Protect Integrated with ISD’s Card Data Security Suite

Image representing VeriFone Systems as depicte...Image via CrunchBase
ISD Provides Merchants with Integrated End-to-End Encryption and Tokenization
SAN JOSE, Calif.--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY), today announced that ISD Corporation will support VeriShield Total Protect in its existing card data security suite to provide merchants with the advantage of end-to-end encryption and tokenization of card data.
http://www.verifone.com
“Merchants are looking for PCI scope reduction and true security. ISD’s solutions along with support of VeriShield Total Protect significantly lower the Merchant’s cost of PCI compliance and provide extensive data security protection”
ISD is one of the first providers of secure payment management software to offer VeriShield Total Protect. ISD’s support of VeriFone’s integrated end-to-end encryption and tokenization solution provides merchant customers with a comprehensive, industry-leading security solution which can secure track data in almost any environment and makes payment-card transactions safer. VeriShield Total Protect also simplifies and reduces the costs of compliance with the Payment Card Industry security standards.
“ISD’s support for VeriShield Total Protect within its product enables merchants to significantly decrease PCI compliance scope and ultimately protect their brand,” said Jennifer Miles, VeriFone senior vice president, Global Security, Vertical and OEM Solutions.
“Merchants are looking for PCI scope reduction and true security. ISD’s solutions along with support of VeriShield Total Protect significantly lower the Merchant’s cost of PCI compliance and provide extensive data security protection,” said ISD Vice President of Business Development Gino Puzzuoli.
By adding VeriShield Total Protect to its existing card data security suite, ISD can offer merchants a new way to take advantage of the latest advances in security – a flexible, layered end-to-end encryption and tokenization solution with wide functionality and processor support.
VeriShield Total Protect was a natural fit for the ISD solution suite as it is one solution that secures card data from all points of entry, secures card transactions, protects card data pre- and post-authorization, works for all merchant levels, and addresses PCI DSS guidelines today and tomorrow.
ISD’s software has been integrated with over 70 different third party processors. VeriShield Total Protect is designed with multiple encryption options, including hardware and software-based options that will integrate seamlessly with ISD’s software and across all of its market segments. ISD’s focus is to develop and deliver solutions that consolidate, manage, secure and route all electronic transactions from their point-of-sale systems to third party processors for authorization and settlement.
VeriFone and ISD will continue to work with processing partners and POS vendors to bring this to market as soon as possible.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for VeriFone Systems, Inc.
This press release includes certain forward-looking statements related to VeriFone Systems, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on VeriFone management’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the forward-looking statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of VeriFone Systems, Inc. These risks and uncertainties include: the successful rollout of VeriShield Total Protect, our ability to protect against fraud, the status of our relationship with and condition of third parties upon whom we rely in the conduct of our business, our dependence on a limited number of customers, uncertainties related to the conduct of our business internationally, our dependence on a limited number of key employees, short product cycles, rapidly changing technologies and maintaining competitive leadership position with respect to our payment solution offerings. For a further list and description of such risks and uncertainties, see our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and our quarterly reports on Form 10-Q. VeriFone is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.
About ISD Corporation
ISD Corporation is a leading provider of secure payment management software and solutions for merchants. For over 25 years, ISD has delivered on its mission to provide best-of-breed software solutions which minimize merchant payment acceptance costs and secure sensitive cardholder data. As a result of its singular focus on the merchant payments market, ISD has built a base of more than 200 brand name customers across several market segments including general and specialty retail, grocery, petroleum, and hospitality. For more information please visit our web site atwww.isdcorporation.com.
About VeriFone Systems, Inc. (www.verifone.com)
VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

Contacts

VeriFone Media Contact:
Pete Bartolik, 508-283-4112
pete_bartolik@verifone.com
or
ISD Media Contact:
Nicole Hayden, 616-494-1355
nhayden@isdcorporation.com
Permalink: http://www.businesswire.com/news/home/20110210005164/en/VeriFone%E2%80%99s-VeriShield-Total-Protect-Integrated-ISD%E2%80%99s-Card
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Visa Launches Customizable Spend Management Tool

Visa Gives Consumers More Control over Spending; Launches Customizable Spend Management Tool

New service builds on existing VisaNet platform capabilities to provide Visa account holders with real time information to control spending and monitor budgets.
SAN FRANCISCO--(BUSINESS WIRE)--Visa Inc. (NYSE:V), the global payments technology company, today announced a powerful new service that allows financial institutions to give their customers wide-ranging insight into and control over their spending.
“Consumers want to play an active part in managing their financial accounts”
The service, powered by VisaNet, Visa’s global processing network, provides Visa account holders with a mobile SMS text, email, and online spend management tool that allows them to set a “purchase threshold” for various accounts, monitor their spending in certain categories, and alerts them when their aggregate spending exceeds pre-set levels. Visa’s service will be offered to account holders by participating financial institutions, and will let consumers manage spending on any Visa account, including credit, debit or prepaid.
“Consumers want to play an active part in managing their financial accounts,” said Jim McCarthy, global head of products at Visa Inc. “This service builds on our 30-year investment in VisaNet and existing real-time transaction alerts platform; it empowers Visa account holders to customize the service, receive account information in real time, and better manage their spending.”
How the Service Works
Visa account holders of participating financial institutions can elect to enroll in the service and choose which of their accounts they wish to activate for the service. For example, account holders who take full advantage of the service will have the option to:
  • Select spending categories they wish to manage, such as grocery, entertainment or restaurant spending
  • Set budget levels they want to assign to each spending category over a specified time period – daily, weekly or monthly
  • Chose how they would like to be notified when a threshold has been reached. Notifications can be delivered via SMS text messages or email
PNC Bank has been piloting the new services within its award-winning Virtual Wallet® product – an online money management tool developed in 2008 to help customers better manage their spending and saving in real time. This month, the bank also began offering select features of the Visa service to its retail customer base – both consumers and small businesses.
“Customers are constantly looking for tools that help them better manage their money, with mobile and text applications high on their list of priorities,” said Thomas Kunz, senior vice president and director of payments and e-business at PNC. “The Visa service will provide our online banking customers with additional flexibility and control over their card spending.”
With this new tool, Visa account holders can use the service to gain greater insights into their spending and better manage their account. For example, a consumer can choose to receive a notification via SMS text message when a transaction puts the total weekly spend for the account above a $500, or when total spending in the grocery category exceeds $300 for the month.
The development of this customizable tool was guided by Visa research that has shown cardholders want a wide range of options when it comes to managing their spending, and the greatest possible degree of flexibility, choice and control over their accounts. They also prefer receiving notifications when they are getting close to the budget they’ve set aside in order to avoid having a transaction automatically declined.
The service is also available to small business and commercial Visa accounts, enabling business owners to better manage expenses and ensure their employees are spending company funds appropriately and within budget.
About Visa Inc.
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 20,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

Contacts

Visa Inc.
Elvira Swanson, +1-415-932-2564
globalmedia@visa.com
or
The PNC Financial Services Group
Tim Rice, +1-412-762-8033
timothy.rice@pnc.com
Permalink: http://www.businesswire.com/news/home/20110210005616/en/Visa-Consumers-Control-Spending-Launches-Customizable-Spend


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Banks Launch Integrated Mobile Banking Solution from First Data

American Bank of Texas and Waggoner National Bank Deploy Triple-Play Mobile Manager Solution

ATLANTA--(BUSINESS WIRE)--American Bank of Texas, Marble Falls, Texas, and Waggoner National Bank, Vernon, Texas, have launched First Data’s Mobile Manager – mBanking solution. The offering is now available to their Internet banking customers following a successful internal pilot period. First Data Corporation is a global leader in electronic commerce and payment processing.
“After piloting this solution internally, we saw firsthand that it had the capabilities our customers are looking for”
With the First Data Mobile Manager – mBanking solution, financial institutions can rapidly implement mobile banking with robust functionality. This solution integrates seamlessly with First Data’s FundsXpress online banking platform, enabling a consistent experience with the same capabilities as online banking on a mobile device, and only one set of logon credentials to manage.
First Data offers the Mobile Manager – mBanking solution as a fully hosted and integrated service. This results in substantially lower costs for a financial institution than developing a solution in-house. Since launching Mobile Manager – mBanking at the beginning of 2011, First Data has signed 60 financial institutions for the service.
“After piloting this solution internally, we saw firsthand that it had the capabilities our customers are looking for,” said Mark Few, executive vice president, American Bank of Texas. “The implementation was painless – especially considering the complexity of the product – but integration is only the first step. We also feel confident that, because we have chosen First Data for our mobile solution, we will be able to keep pace as the mobile marketplace evolves.”
First Data’s Mobile Manager – mBanking product enables financial institutions to offer all three modes of mobile banking: SMS, mobile web, and downloadable applications, including a uniquely branded iPhone® app available through the App StoreSM online store. First Data plans to roll out the same capabilities for Android™ phones, with availability in the Android Market during the first half of 2011.
The ability to offer all three modes is key for financial institutions that wish to position themselves for success as mobile banking providers. According to the 2010 Mobile Banking and Smartphone Forecast1 from Javelin Strategy & Research, consumers who bank with their mobile phones do so using all three methods, yet fewer than half of the financial institutions researched by Javelin offered all three modes in 2010.
First Data’s Mobile Manager – mBanking offering uses technology from mobile provider mFoundry.
“Partnering with First Data has expanded mFoundry’s reach and made our award-winning mobile banking product accessible to an even larger base of customers,” said Drew Sievers, CEO and co-founder, mFoundry. “This relationship results in a powerful solution that offers robust mobile capabilities without the technological hurdles of implementing them – enabling financial institutions that have more limited development resources to meet the challenge of the marketplace.”
First Data’s Mobile Manager service is part of a comprehensive mobile commerce suite that includes contactless cards solutions and a Trusted Service Manager (TSM) platform.
“Mobile banking is an important stepping stone on the path to full mobile commerce,” said Dom Morea, First Data division manager of Mobile Commerce Solutions. “This powerful combination of technology from mFoundry and First Data, along with our high level of client support, creates a scalable solution that enables our clients of all sizes and charters to join in this evolution.”
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
1 2010 Mobile Banking and Smartphone Forecast: Fast‐Growing Smartphone Market Will Offset Lost Momentum in Mobile Banking, Javelin Strategy & Research, September 2010.
iPhone and App Store are registered trademarks of Apple Inc.
Android is a trademark of Google Inc. Use of this trademark is subject to Google Permissions.

Contacts

First Data
Kim Graber, 303-967-5172
kimberly.graber@firstdata.com
Permalink: http://www.businesswire.com/news/home/20110210006002/en/Banks-Launch-Integrated-Mobile-Banking-Solution-Data



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