Wednesday, April 13, 2011

Durbin Wants to Stop Dimon

JPMorgan Chase and Company CEO, Jamie Dimon wrote a “dismissive critique” calling the Durbin Amendment "downright idiotic" in a message to shareholders.  An annoyed Dick Durbin responded angrily with a 5 page letter telling Dimon:

“The American people deserve to know the real story about the interchange fee system and the ways that banks in general — and Chase in particular — have abused that system.”


Enhanced by Zemanta

Irony 101: Washington D.C. "FIRST" to Allow Internet Gambling



DC to offer Internet gambling, becomes first in US
(from the Associated Press on 4-13-2011)
WASHINGTON (AP) -- The District of Columbia is becoming the first U.S. jurisdiction to allow Internet gambling, trying to raise millions of dollars from the habits of online poker buffs and acting ahead of traditional gambling meccas like New Jersey and Nevada.  Permitting the online games was part of the 2011 budget and a 30-day period for Congress to object expired last week, said D.C. Council member Michael A. Brown, who authored the provision. The gaming would be operated by Intralot, a Greece-based company, and would be available only to gamblers within the borders of the district... read more»

Enhanced by Zemanta

Bell ID Simplifies EMV Smart Card & NFC Application Management with Versatile New Platform



Bell ID Simplifies EMV Smart Card & NFC Application Management with Versatile New Platform


13 April 2011 (Rotterdam, The Netherlands) 
- Bell ID today announced the launch of Bell ID® EMV Token Manager, a new web based solution which coordinates and simplifies the management of any type or combination of EMV token deployment, including contact, contactless and dual interface cards as well as the option to support contactless applications in NFC enabled mobile phones.
The newly announced solution is a comprehensively redesigned successor to Bell ID’s acclaimed ANDiS4EMV smart card management system and draws on the company’s experience with banks and other chip & PIN card issuers worldwide. Positioned at the core of an EMV implementation, Bell ID® EMV Token Manager is responsible for performing data preparation for any EMV or chip payment application and for managing the entire lifecycles of an EMV token, its associated applications and related cryptographic keys. It enables issuers of payment applications to simply and quickly migrate to EMV and to enhance the functionality of their existing EMV deployments.
Significantly, Bell ID® EMV Token Manager’s design directly incorporates feedback from a series of customer consultation workshops, ensuring that it reflects actual industry and customer requirements relative to EMV token management. As a result, an improved and highly intuitive online user interface simplifies both operations management and configuration, cutting deployment timescales and offering substantial reduction in programme costs.  Optional enhancements such as EMV instant issuance, EMV scripting, internet PINchange, multi-application management, post-issuance management functionality and NFC mobile application management reinforce the value and versatility of the system, and the ability to contribute to the growth and profitability of issuers’ chip programmes.  
Bell ID® EMV Token Manager is compliant to relevant standards such as EMV, PCI and GlobalPlatform, enabling customers to implement fully certified end-to-end solutions. The platform has also been re-engineered based on the latest technology standards, and offers complete IT platform and database independence.
David Worthington, Principal Consultant Payment & Chip Technology at Bell ID, comments: “Bell ID EMV Token Manager offers EMV issuers the flexibility, scalability and modularity to manage EMV tokens even more easily and cost effectively than before.  The solution’s ’customisation through configuration‘ approach ensures that it can be adapted to suit potentially unplanned future business requirements, such as managing multiple token types – perhaps payment applications on both cards and mobile phones - side by side. This level of future-proofing is essential in the increasingly dynamic payments market where new and emerging technologies continue to drive change at a very fast pace.”
Bell ID is a worldwide technology leader in the field of smart card and token management solutions and its technology is responsible for the day-to-day management of 125 million tokens globally, across the finance, identity and mobile sectors.
-ENDS-
For further information on Bell ID, please contact Rob Peryer or Nicole Mountain atrob@iseepr.co.uk / nicole@iseepr.co.uk / Tel: +44 (0) 1943 468 007.

About Bell ID
Bell ID (www.bellid.com) is a worldwide technology leader in the field of smart card/ token management solutions, with the largest team in the industry dedicated exclusively to developing software that manages life-cycles, applications and cryptographic keys. Having operated in this highly specialised field for 20 years, Bell ID is a true card and token management expert providing unparalleled knowledge, experience and products to an unrivalled portfolio of customers. Bell ID’s software is used in finance, identity and mobile solutions worldwide.

Enhanced by Zemanta

Debit Card Cap = Weakened Security for Cardholders says Google, Facebook Group


Google, Facebook Group Asks Delay of Debit-Card Fee Rules

(from Bloomberg on 4-12-2011)
U.S. rules capping fees charged to merchants for debit-card payments could weaken the security of electronic transactions, a group representing technology companies including Apple Inc. (AAPL), Facebook Inc. and Google Inc. (GOOG) said.   TechNet, a Washington-based group that also counts Visa Inc. (V) as a member, called on lawmakers to delay and further study rules being written by the Federal Reserve as part of the Dodd- Frank finance-regulation overhaul.  The rules on so-called swipe fees, which are set by payment networks like San Francisco-based Visa, are scheduled to be in place July 21. The group sent letters last week to U.S. senators asking them to support legislation introduced by Senator Jon Tester, a Montana Democrat, to put off the rules for two years.
“As the implementation process has moved forward, it has become clear that, while not the intent, the current proposal is creating unintended and unnecessary consequences such as a very real threat to the level of protection offered to the consumers’ personal financial data,” Rey Ramsey, the president and chief executive officer of the group, wrote in the April 6 letter. TechNet said the loss of revenue to banks and card networks could lead them to cut costs in the technology systems that protect personal financial information from fraud and identity theft.. read more»

American Express and Payfone Announce Strategic Alliance to Power Global Mobile Checkout

Payfone alliance with Serve, American Express’ new digital payments platform, to accelerate growth in mobile payments and international expansion
New York, NY – April 13, 2011 – American Express (NYSE:AXP), and Payfone (www.payfone.com), a leading mobile payment processing service, today announced a strategic alliance to create and power a new global mobile checkout service. As part of the agreement, Payfone will combine its advanced mobile authorization and payment services with American Express’ recently launched digital payments platform, Serve.

Working together, Serve and Payfone will provide consumers with the ability to make purchases from online merchants using their mobile phone number at checkout. Consumers will be able to link their mobile numbers to a variety of payment methods including their pre-or-postpaid mobile operator account, as well as via a customer’s Serve account.
“This alliance brings together Serve’s unified online, mobile and real-world functionality with Payfone’s advanced mobile authorization and payment services to deliver a seamless payment solution,” said Dan Schulman, Group President, Enterprise Growth, American Express. “The alliance is an important next step for the international roll out of Serve. We look forward to working with Payfone as we evolve the Serve platform to provide the most advanced payment solutions for buyers and sellers, while setting new standards in security, simplicity and reliability.”
Payfone is unique in leveraging the existing assets of mobile operators, such as the global SS7 signaling network for directly connected payment authorization and processing. This approach distinguishes Payfone from other competitors.
Payfone’s unique IP focuses on driving merchant’s sales conversion and revenue yield while managing fraud using new factors of authentication that are inherent in the mobile operator networks. For consumers, it means greater choice in payment methods and the most frictionless user experience, across any device.
“This relationship will be a defining force in the industry. By teaming up with American Express’ new digital payments platform, Serve, we are not only delivering greater choice to consumers and merchants, with one of the most comprehensive and advanced e-wallets in the industry, we are also enabling mobile operators to participate in the transaction flow and benefit from an entirely new revenue source,” said Rodger Desai, Co-founder and Chief Executive Officer of Payfone. “Over 5 billion people worldwide currently have mobile phones, however less than 2 billion have credit cards. It’s our goal to make the mobile phone number the new accepted way to pay. We look forward to working with American Express and our mobile operator partners in defining and driving the mobile payments industry.
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at www.americanexpress.com and connect with us onwww.facebook.com/americanexpresswww.twitter.com/americanexpress andwww.youtube.com/americanexpress.
American Express recently launched Serve, a next generation payments platform designed to deliver emerging payments and services to address the changing ways consumers interact and exchange money -- with one another -- as well as merchants. Learn more at www.serve.com and connect with us on www.facebook.com/paywithserve and www.twitter.com/serve.
About Payfone
Payfone authorizes and processes mobile payment transactions for the world’s best known application stores and merchants. Payfone’s unique ability to leverage the mobile operator network to directly authorize and process payments drives higher sales conversion and revenue yield for merchants and mobile operators, while managing fraud and revenue leakage. As a result, consumers benefit with a wide choice in payment methods and the best user experience. Additional information is available atwww.payfone.com.
Enhanced by Zemanta

PAYware Mobile for iPhone 4 Now Offered by US Bankcard Services, Inc.

US Bankcard Services, Inc. (USBSI) a leader in the Merchant Processing Service Industry has been on the cutting edge of new tech product and service offerings for many years now and continues to bring convenience and cost effectiveness to its merchants. Early last year, USBSI had offered PAYware by VeriFone, worldwide leader in payments technology. PAYware is a mobile POS (Point Of Sale) system that is specifically design around the iPhone smart device platform. The initial PAYware offering from VeriFone was compatible with iPhone 3G and iPhone 3Gs.


PAYware has been quite successful in various niche markets, like general contracting, catering, and any other business that is on the go and hence ‘mobile’. USBSI believes itsmobile platform will continue to gain momentum in the US and abroad and as such USBSI has positioned itself to capture this market share. VeriFone has released PAYware for iPhone 4. This new version consists of some additional upgraded features, such as geo-tagging, which is an added feature for dispute and fraud prevention. Dispute and fraud prevention are important considerations for VeriFone as it is compliant with both Visa and Master Card’s rules against such things as using POS systems for settling personal debts or for scrip, to name a few. In addition, there is more robust reporting, which allows for more accurate and deeper reporting functionality, and there are some compatibility upgrades for the iPhone platform.


USBSI has recently added PAYware for iPhone 4 to its product solutions inventory and has received a promising response from the market thus far. Chris Chang, the president and CEO of USBSI remarks, “I must confess that I am a bit of a ‘gadget geek’ and so are most of our staff…as a matter of fact, we encourage this thinking here. We continue to promote ‘gadget’ knowledge within our company and share this knowledge with our merchants so that they may have the best possible services and tools in order to bolster their bottom line and capture their own market…and we love assisting our merchants from all angles, including the innovative tech angle. USBSI offers a free PAYware card reader loaner for its merchant with no deposit and supplies, PAYware service at market competitive rates. We believe this is a very cost-effective POS solution which has value across various niche markets.”


All versions of PAYware are PCI-DSS compliant, and unlike most others in the market today, PAYware features encryption technology on the card reader and throughout the end-to-end secured processing system. PAYware also offers merchant savings with ‘card present’ rates while also increasing sales, and unlike most others in the market, PAYware’s card reader is very durable, high performing and built to survive. Also the power supply comes from the 5V 500mA Mini USB port for pass through power to iPhone which permits charging the iPhone through the card reader itself. And finally PAYware is currently available in English only. Look for more upgrades and additional features from PAYware by VeriFone in the near future and don’t let innovation pass you by.


About U.S. Bankcard Services, Inc. (USBSI):
U.S. Bankcard Services, Inc. is a top rated MSP that offers competitive rates, incredible customer service support, and cutting edge technology in credit card processing service. USBSI offers a wide array of value-added services, including QuickDining.com (QD) restaurant eCommerce, gift card services, check guarantee, PCI –DSS Compliance Consultancy, 24-7 multilingual customer service and technical support.



For more information about merchant bankcard services please visit us at usbsi.com or call us at: 1-888-525-8558.  
Enhanced by Zemanta

American Express Invests in Mobile Payment Technology from Payfone

Payfone attracts $19M investment to close one of the largest funding rounds in the mobile payments market-to-date

NEW YORKApril 13, 2011 /PRNewswire/ -- Payfone (www.payfone.com), a leading provider of mobile payments, today announced the closing of its $19 million strategic funding round, making it one of the largest mobile payments funding rounds to date. American Express is the largest strategic investor in this round of funding, with additional investment from Verizon Investments Inc. (assisted by Verizon Ventures), Rogers Ventures and from existing investors Opus Capital, BlackBerry Partners Fund and RRE Ventures. Payfone's new funds will be used to continue innovations in its market approach and to support its global expansion across North America, EMEA, Latin America and Asia.
"The payments industry is going through a fundamental transformation, with the move to digital payments becoming the primary driver. Payfone is well positioned to lead the next wave of innovation in mobile payments and commerce and we look forward to working with the Payfone leadership team to evolve Serve, our new digital payments platform, to provide the most flexible and secure payment solutions for buyers and sellers," said Dan Schulman, Group President, Enterprise Growth, American Express.
Founded by industry veteran Rodger Desai in 2008, Payfone is the culmination of over 50 years of combined payment processing, telco, and web 2.0 expertise. Payfone is unique in leveraging the existing assets of mobile operators, such as the global SS7 signaling network for directly connected payment authorization and processing. This approach distinguishes Payfone from other competitors.
Payfone was created to challenge conventional thinking and radically change the mobile payment paradigm. Over 5 billion people worldwide currently have mobile phones, while less than 2 billion have credit cards. Payfone's goal is to make the mobile phone number the accepted way to pay, opening up payment options to the non-credit card world and bridging the gap in emerging markets.
"Strategic investment from major operator players like Verizon Investments Inc. and Rogers Ventures, as well as backing from a prestigious financial institution like American Express is not only a testament to our unique approach, but it also demonstrates our industrial strength offering," said Rodger Desai, Co-Founder and Chief Executive Officer, Payfone. "Mobile payments will form a major cornerstone in operator and merchant digital payment strategies moving forward. We look forward to enabling operators to participate in the transaction flow and benefit from an entirely new revenue source, while driving home our own mission to make the mobile phone number the accepted way to pay."
Through Payfone's simple and secure checkout and in-app payments service, consumers can purchase digital and physical goods using their mobile phone number. With this unique approach to mobile payments, operators and merchants are able to complete transactions more securely and accurately, reducing fraud and risk and generating more revenue. For consumers it means greater choice and a simple, safe and secure credit card-like purchasing experience via mobile and online.
Unlike other market players, Payfone leverages the security already built into the mobile operator network for mobile payment processing. This deep network access allows for the authorization of credit card, debit and mobile operator billed payments, dramatically reducing fraud, charge-backs and identity theft.
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success.  Learn more at www.americanexpress.com and connect with us onwww.facebook.com/americanexpresswww.twitter.com/americanexpress and www.youtube.com/americanexpress.
American Express recently launched Serve, a next generation payments platform designed to deliver emerging payments and services to address the changing ways consumers interact and exchange money -- with one another -- as well as merchants.  Learn more at www.serve.com and connect with us on www.facebook.com/paywithserve and www.twitter.com/serve.
About Verizon Ventures
Verizon Ventures seeks out promising entrepreneurial companies to drive innovation in Verizon Communications Inc. (NYSE, NASDAQ: VZ).  Verizon Ventures' focuses on new products, technologies, applications and services that complement Verizon networks, service platforms and distribution channels.
About Rogers Ventures
Rogers Ventures is the venture capital arm of Rogers Communications. Its mandate is to invest in broadband enabled wire-line and wireless companies with a focus on mobile finance, machine-to-machine, cloud computing, and mobile advertising. For more information visit www.rogersventures.com.  
About Payfone
Payfone authorizes and processes mobile payment transactions for the world's best known application stores and merchants. Payfone's unique ability to leverage the mobile operator network to directly authorize and process payments drives higher sales conversion and revenue yield for merchants and mobile operators, while managing fraud and revenue leakage.  As a result, consumers benefit with a wide choice in payment methods and the best user experience. Additional information is available atwww.payfone.com and www.twitter.com/payfone.

CARTES in Asia: Over 3,000 Visitors and 120 Exhibitors Meet in Hong Kong to Showcase and Discuss the Future of ID and Innovative Payments

American Express, Gemalto, Giesecke & Devrient, GlobalPlatform, Mastercard, Paypal and Watchdata speak at successful 2nd edition of CARTES in Asia conference
CARTES in Asia 2011
CARTES & IDentification 2011
PARIS--(BUSINESS WIRE)--The 2nd edition of CARTES in Asia exhibition and conference attracted 3,056 visitors from 61 countries – an increase of 8% compared to 2010. Over 120 smart technology companies from across the globe including market leaders American Express, Datacard, Eastcompeace, Gemalto, Giesecke & Devrient, HID Global, Verifone, Watchdata, and Zebra Technologies joined this year’s event. While organisations such as Global Platform, Mastercard, SIM Alliance, Paypal and Price Waterhouse Coopers presented at the co-located two day conference. CARTES in Asia ended last week and took place at AsiaWorld-Expo, Hong Kong, from 29 to 31 March 2011.
“Gemalto is delighted to be this year’s Asia SESAMES Awards winner. This recognizes our leadership in digital security innovation and ability to bring cutting-edge concepts to fruition. We will continue to invest in researching and developing ideas to benefit everyone as our world becomes more and more connected.”
Michael Weatherseed, Security Business Event Director at Comexposium, reported a year on year increase in numbers in attendance across the exhibition and conference: “We were delighted to see world leaders Amex, Gemalto and Giesecke & Devrient join the exhibition this year, which is a reflection of the growing strength of CARTES in Asia and the importance of the smart technologies market in Asia Pacific. We also saw a significant growth in visitors from Korea, Taiwan, Singapore, Thailand and the Philippines at the exhibition and conference with 343 delegates who were particularly interested in e-banking, and convergence and mobility. We also had great success with the Asian Card Summit, with 221 participants attending the round table gathering of the industry’s top leaders.”
Visitors came from across the globe, mainly from APAC countries (mainland China, Hong Kong SAR, Indonesia, Korea, Singapore, Taiwan and Thailand) but also from Europe, USA and the Middle-East. Whether from the banking sector, or from smart card manufacturers, electronics, telecom and IT security, they came to see and hear about the latest innovative technologies for card manufacturing, authentication solutions, payment solutions and mobile security. The main issues discussed during the conference were mobile payments and services, NFC and contactless applications, e-transactions and e-banking, payment card readers and terminals, Internet of Things and M2M applications.
Exhibitors came from 23 countries including Australia, Germany, Hong Kong SAR, Italy, Japan, Norway, Philippines, Singapore, Spain, Switzerland, Russia, Taiwan, UAE and USA. The exhibition also featured pavilions from mainland China and France.
“As one of the most established and large-scale card and payment exhibitions in Asia, CARTES in Asia offered us a dynamic platform to showcase broad spectrum of smart card applications and innovations. During the prolific three-day agenda, we managed to reach top-notch attendees from Asia Pacific and different industries. We will definitely continue to support this high-impact industry event,” said Cynthia Wong, Director of Marketing, Asia Pacific, of exhibitor HID Global.
In addition to a market leading exhibition and conference, the organisers of CARTES in Asia also revealed the winner of the Asian SESAMES Awards. Gemalto won the top award with their Smart Badge Holder, which enables workforces to use their corporate badges to access their encrypted emails and to sign documents electronically from their smartphones and other devices.
On winning this special accolade, Tan Teck-Lee, Chief Innovation and Technology Officer from Gemalto said:
“Gemalto is delighted to be this year’s Asia SESAMES Awards winner. This recognizes our leadership in digital security innovation and ability to bring cutting-edge concepts to fruition. We will continue to invest in researching and developing ideas to benefit everyone as our world becomes more and more connected.”
The CARTES exhibition and conference now takes place three times a year across the world. The next editions take place:
CARTES & Identification
Paris, 15 - 17 November 2011
CARTES in North America
Las Vegas, 5 – 7 March 2012
CARTES in Asia
Hong Kong, 27 – 29 March 2012
Contact
For more information, obtain photographs from the show including the Asian SESAMES Awards or to arrange interviews with Michael Weatherseed, Director of Security Business Unit, then please contact Mandy Queen at CRED Communications Ltd (English media) on +852 96847365 or email mandy@credcommunications.com and contact Otis Kung (Chinese media) onotis@credcommunications.com or telephone +852 96843926 .

Contacts

Mandy QUEEN
Tel: +852 96847365
Email: mandy@credcommunications.com

Pivotal Payments Launches New Back-end Processing Platform

New state-of-the-art HD3 platform provides innovative payment processing advantages to sales partners and merchants
MONTREALApril 13 /PRNewswire/ - Pivotal Payments, a leading provider of merchant services, today announces that it is launching its enhanced processing and reporting platform called HD3. As one of the top merchant providers in North America, Pivotal Payments has now positioned itself to be a consummate merchant payment processor. By eliminating the middle-man, HD3 will allow Pivotal Payments to further tailor their merchant services to meet the needs of their partners and clients with real-time access to data, resulting in faster client care response and rapid problem resolution, along with tougher fraud protection measures.
"Since 2003, we have provided ISO merchant services to over 60,000 clients in North America. And with this strategic investment,  Pivotal Payments is now better positioned to serve our clients with a fully integrated North American back-end and back-office processing solution," said Philip Fayer, president and CEO, Pivotal Payments. "As an organization, we are committed to excellence through innovation and now that we have taken processing in-house, we are able to further enhance not only our internal capabilities, but also increase our level of service to our partners and merchants."
HD3 stands for Highly Diverse, Dependable and Deliverable, referring to the improved efficiencies Pivotal Payments will attain as a result of this deployment.
About Pivotal Payments
Pivotal Payments is a leading provider of merchant services such as credit and debit card processing, electronic check conversion, merchant cash-advance programs, loyalty/gift card programs and terminal management solutions. The company provides these services to small and mid-sized retail businesses, mail order/telephone order merchants, e-commerce, chain stores, franchises, restaurants and dealerships. With offices across North America, Pivotal Payments, since 2003, has grown to over 350 employees, 1,000 agents and over 60,000 customers. Pivotal Payments processes over $8 billion in annual volume.
Pivotal Payments is a privately held company.
Company and product information are available at www.pivotalpayments.com.

Wells Fargo to Pilot EMV Chip Technology for International Travelers

New Visa Smart Card Features Magnetic Stripe and Chip Technology, Helping Increase Card Acceptance Worldwide
SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE:WFC) is piloting the Visa Smart Card, which includes the traditional magnetic stripe along with EMV chip technology, helping increase card acceptance worldwide. The pilot is the industry’s first chip program by a national bank and includes 15,000 Wells Fargo consumer credit card customers who travel internationally.
“This initiative will enable Wells Fargo customers to have their Visa card payments accepted anywhere in the world”
EMV is the global industry standard for chip payment technology. EMV chip-based payment cards contain an embedded microprocessor, which is a type of small computer. The microprocessor chip contains the information needed to use the card for payment, and is protected by various security features. Customers do not see much difference when using an EMV chip.
“U.S. issuers and merchants rely primarily on magnetic stripe technology,” said Eric Schindewolf, vice president of product development for Wells Fargo Consumer Credit Card. “However, many parts of the world have adopted chip-enabled payment cards as a primary means of authentication, which has been problematic for customers who travel abroad and were unable to use their credit card. By combining traditional magnetic stripe along with the EMV chip technology, we hope our customers will have the convenience to use their credit card no matter where they are in the world.”
“Visa is very pleased to support Wells Fargo in its effort to bring EMV chip-enabled cards to its international traveling customers,” said Stephanie Ericksen, head of chip product integration, Visa Inc. “Wells Fargo’s implementation provides cardholders an enhanced experience in international countries using EMV chip.”
Giesecke & Devrient (G&D) is pleased to support Visa and Wells Fargo in this pioneering project with the expertise we have gained in multiple EMV implementations across the globe," said Scott Marquardt, President of G&D’s U.S. subsidiary.
The EMV cards, personalization and fulfillment services were provided by Giesecke & Devrient (G&D), a worldwide leader in smart card technology offering full service, quick turn EMV solutions. Visa provided Wells Fargo technical and product support to ensure the program meets EMV standards and enables both signature and PIN-based cardholder verification for greater cardholder flexibility.
“This initiative will enable Wells Fargo customers to have their Visa card payments accepted anywhere in the world,” said Beth Robertson, Director of Payments Research at Javelin Strategy & Research. “EMV technology is important to creating the widespread global acceptance that cardholders expect.”
All of Wells Fargo’s cards offer built-in security with the Zero Liability program. With this program, cardholders are protected against liability for any unauthorized transactions made at merchants, over the phone, on the Internet, or at the ATM. Wells Fargo, along with Visa, protects cardholders from fraud with zero liability to the customer, when reported promptly.
About Visa Inc.
Visa Inc. 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 transaction messages 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.
About Giesecke & Devrient
Giesecke & Devrient (G&D) is a leading international technology provider headquartered in Munich, Germany. With a headcount of more than 10,000 employees, the Group generated sales of EUR 1.7 billion in fiscal 2009. Founded in 1852, G&D is a global market leader and pioneering innovator in banknote production and processing, smart card solutions and services for telecommunications and electronic payment, and security documents and identification systems. 65 subsidiaries and joint ventures in 32 countries ensure customer proximity worldwide. For more information, visit our website at: www.gi-de.com.
Wells Fargo & Company
Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With approximately 280,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

Contacts

Wells Fargo & Company
Lisa Westermann, 415-222-6236
Lisa.b.westermann@wellsfargo.com

Enhanced by Zemanta

Disqus for ePayment News