PaymentsSource Payments Update Featuring HomeATM

Featured for Friday July 9th, 2010

HomeATM Shifts Focus To Mobile Merchants

Paul Turgeon, president of Payments & Processing Consultants Inc., believes HomeATM’s device is well suited for line-busting situations and for mobile merchants in general. “There are lots of those kind of merchants who are spending a lot of money equipping themselves to take credit cards,” he adds. [FREE] Read More >>

Canada's Countdown To EMV Puts U.S. In Fraudsters' Crosshairs

Many of Canada's merchants and financial institutions are on track to meet a key deadline less than three months from now for converting to EMV chip-and-PIN card technology. Read More >>

AT&T Calls On Apriva To Tap Mobile Merchants

The allure of mobile payments, which Generator Research, a United Kingdom-based research firm, estimates will grow to an estimated $600 billion worldwide by 2014, has drawn AT&T Inc. into the fray, as have the merchants accepting payments via their phones. [FREE] Read More >>

Brazilian ATM Maker Enters U.S. Market

Sao Paolo, Brazil-based Itautec S.A., a maker of low-cost ATMs, plans to sell its full-service machines in the U.S. market starting this fall. Read More >>

PCI 2.x Approved PIN Entry Devices - HomeATM SafeTPIN

Approved PIN Transaction Security

Please review the legal conditions and restrictions regarding PCI PTS approval contained in the Payment Card Industry PIN Transaction Security Testing and Approval Program Guide (PDF 2.25 MB).



  Filter PTS Vendors by Company Name:

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Product Type:    Show AllPEDEPPUPTHSM  Versions:    Show AllPCI 1.xPCI 2.x  Sort By: Alphabetical Expiry Date     Search PTS by Vendor name, Product name, Approval number:     Export To Excel Printable Format Last Update: Apr 21st, 2010 4 Vendors, 6 Devices Hangzhou Sunyard Technology Co Ltd PTS Identifier1 Approval Number2 Version Product Type3 Expiry Date4 P80 hardware # :  HD-D-0x-S-0x firmware # :  BIOS-V001 applic # :  USR-V001 4-40043 2.x PED 30 Apr 2017 S180 hardware # :  HD-V1.01 firmware # :  BIOS-V1.01 applic # :  USR-V1.00 4-40047 2.x PED 30 Apr 2017 HomeATM PTS Identifier1 Approval Number2 Version Product Type3 Expiry Date4 SafeTPIN hardware # :  3.0 firmware # :  1.02 applic # :  4-40035 2.x PED 30 Apr 2017 Hypercom PTS Identifier1 Approval Number2 Version Product Type3 Expiry Date4 L4150 and SKP4150 hardware # :  0220xx and 0240xx firmware # :  FPE 5.P.0xx, FPE 5.P.1xx and HYCSKP_2.0x applic # :  4-60028 2.x PED 30 Apr 2017 L4150  hardware # :  0220xx firmware # :  FPE 5.P.0xx, FPE 5.P.1xx applic # :  4-60028 2.x PED 30 Apr 2017 Hypercom PTS Identifier1 Approval Number2 Version Product Type3 Expiry Date4 T42xx, M42xx hardware # :  0630xx firmware # :  5.0.x xxxxxxxx applic # :  4-60036 2.x PED 30 Apr 2017

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SmartCard Marketing Systems Inc. (PINKSHEETS:SMKG) Announces 2010 Outlook - Product Review and Revenue Streams

SAN ANTONIO--(BUSINESS WIRE)--(PINKSHEETS:SMKG) CEO Massimo Barone said, “We are proud to present our 2010 Company Outlook. We believe that this information will allow both our company shareholders along with existing/future clientele the ability to completely understand what our great company has accomplished and achieved during its first important initial years. Our platform stands unique and can be tailored to our many different clientele needs. The current and future economic situation offers SmartCard Marketing Systems Inc. an unlimited amount of growth potential which we aim to capture during the coming years.”



FINANCIAL SERVICES



VelocityMoney Financial Services Portal



The VelocityMoney Financial portal has reached a new pinnacle of service and ease-of use. SMKG has included 4 products and 15 services under one comprehensive web application for Individuals, Businesses and Merchants. In the fourth quarter of 2009 (PINKSHEETS:SMKG) added its proprietary VelocityMoney consumer financial portal to the VelocityMerchant commercial financial management portal. Together they form a complete platform for consumers and merchants to move money, manage their stored-value debit cards, transfer money between international bank accounts in 16 different currencies and make online purchases from participating merchants. The online system allows consumers and merchants to send, collect and manage money online internationally in 19 different currencies.



Products:



Stored Value Cards – Globally-branded Open-Loop Prepaid Debit Cards



One of the most exciting new products to which (PINKSHEETS:SMKG) has acquired the distribution rights is International Stored-Value Debit Cards. These products are in high demand within the niche populations of a) those with no bank account, b) those who want to transfer money to relatives in remote locations bypassing more expensive transfer companies like Western Union, c) companies who want to put all employees, including unbanked employees, on payroll direct deposit, and d) immigrants who are trying to get financially established in their new country. Each card sale represents an average of $40 and $60 per year in residual transaction revenue.



VelocityMoney Prepaid Debit and Gift Card Program - US



(PINKSHEETS:SMKG) has marketing rights to branded Debit cards and Gift Cards under license, processed and managed by its US financial issuer. After doing a thorough market search, management has determined this to be a very unique opportunity to create revenue both through sale of the cards, and, more importantly, through recurring monthly residuals from transactions performed by cardholders.

Canadian Distribution



(PINKSHEETS:SMKG) has distribution rights to a prepaid Debit MasterCard Issued by a Canadian financial issuer. It is one of a few such cards in Canada that can be issued to an individual who does not have a bank account. This represents a huge opportunity to sell cards into a market that has little to no competition. Through its Canadian development office, (PINKSHEETS:SMKG) has significant sales opportunities to recruit resellers of its cards through transaction-based financial service providers such as bankruptcy-asset distribution trustees, check cashing establishments, payroll companies and as a funds distribution mechanism for investment houses and travel companies.



Loading Network



Green Dot Network – One of the biggest obstacles in the debit card business is getting money onto the cardholder’s card. (PINKSHEETS:SMKG) has a contract solution that gives it an advantage in the current marketplace. This solution is the Green Dot Deposit Network.



The Green Dot Financial Network allows cardholders to add cash onto their VelocityMoney cards at tens of thousands of retail locations nationwide including Rite Aid, Walgreens, CVS/pharmacy, RadioShack and WalMart.



ONLINE PIN DEBIT PROCESSING



HomeATM Payment Processing



SMKG integrated the HomeATM PIN terminal to its free Internet-based payment platform, VelocityMoney.com. The terminal plugs into the USB port on a computer with Internet access and a free VelocityMoney.com account. With no more set-up than that, the business can accept any bank's PIN-based debit card for payment. The transaction is basically treated as a cash transaction or ATM withdrawal by the bank...no charge-backs and no reserves.



SMKG receives 1% on payments processed.



MERCHANT PROCESSING



Credit Card Processing



SMKG has written an interface that allows merchants who need to process credit or debit cards remotely to use their mobile devices, such as cell phone or wi-fi to process payments and print out a receipt for the customer. The VelocityMoney Bluetooth Printer has a built-in credit card swipe/reader and thermal printer. It can be used alone or in conjunction with the HomeATM device to process credit and debit cards remotely and securely while printing out receipts for signature capture.



Continue Reading

SmartCard Marketing Systems Inc. (PINKSHEETS:SMKG) Announces 2010 Outlook - Product Review and Revenue Streams

SAN ANTONIO--(BUSINESS WIRE)--(PINKSHEETS:SMKG) CEO Massimo Barone said, “We are proud to present our 2010 Company Outlook. We believe that this information will allow both our company shareholders along with existing/future clientele the ability to completely understand what our great company has accomplished and achieved during its first important initial years. Our platform stands unique and can be tailored to our many different clientele needs. The current and future economic situation offers SmartCard Marketing Systems Inc. an unlimited amount of growth potential which we aim to capture during the coming years.”



FINANCIAL SERVICES



VelocityMoney Financial Services Portal



The VelocityMoney Financial portal has reached a new pinnacle of service and ease-of use. SMKG has included 4 products and 15 services under one comprehensive web application for Individuals, Businesses and Merchants. In the fourth quarter of 2009 (PINKSHEETS:SMKG) added its proprietary VelocityMoney consumer financial portal to the VelocityMerchant commercial financial management portal. Together they form a complete platform for consumers and merchants to move money, manage their stored-value debit cards, transfer money between international bank accounts in 16 different currencies and make online purchases from participating merchants. The online system allows consumers and merchants to send, collect and manage money online internationally in 19 different currencies.



Products:



Stored Value Cards – Globally-branded Open-Loop Prepaid Debit Cards



One of the most exciting new products to which (PINKSHEETS:SMKG) has acquired the distribution rights is International Stored-Value Debit Cards. These products are in high demand within the niche populations of a) those with no bank account, b) those who want to transfer money to relatives in remote locations bypassing more expensive transfer companies like Western Union, c) companies who want to put all employees, including unbanked employees, on payroll direct deposit, and d) immigrants who are trying to get financially established in their new country. Each card sale represents an average of $40 and $60 per year in residual transaction revenue.



VelocityMoney Prepaid Debit and Gift Card Program - US



(PINKSHEETS:SMKG) has marketing rights to branded Debit cards and Gift Cards under license, processed and managed by its US financial issuer. After doing a thorough market search, management has determined this to be a very unique opportunity to create revenue both through sale of the cards, and, more importantly, through recurring monthly residuals from transactions performed by cardholders.

Canadian Distribution



(PINKSHEETS:SMKG) has distribution rights to a prepaid Debit MasterCard Issued by a Canadian financial issuer. It is one of a few such cards in Canada that can be issued to an individual who does not have a bank account. This represents a huge opportunity to sell cards into a market that has little to no competition. Through its Canadian development office, (PINKSHEETS:SMKG) has significant sales opportunities to recruit resellers of its cards through transaction-based financial service providers such as bankruptcy-asset distribution trustees, check cashing establishments, payroll companies and as a funds distribution mechanism for investment houses and travel companies.



Loading Network



Green Dot Network – One of the biggest obstacles in the debit card business is getting money onto the cardholder’s card. (PINKSHEETS:SMKG) has a contract solution that gives it an advantage in the current marketplace. This solution is the Green Dot Deposit Network.



The Green Dot Financial Network allows cardholders to add cash onto their VelocityMoney cards at tens of thousands of retail locations nationwide including Rite Aid, Walgreens, CVS/pharmacy, RadioShack and WalMart.



ONLINE PIN DEBIT PROCESSING



HomeATM Payment Processing



SMKG integrated the HomeATM PIN terminal to its free Internet-based payment platform, VelocityMoney.com. The terminal plugs into the USB port on a computer with Internet access and a free VelocityMoney.com account. With no more set-up than that, the business can accept any bank's PIN-based debit card for payment. The transaction is basically treated as a cash transaction or ATM withdrawal by the bank...no charge-backs and no reserves.



SMKG receives 1% on payments processed.



MERCHANT PROCESSING



Credit Card Processing



SMKG has written an interface that allows merchants who need to process credit or debit cards remotely to use their mobile devices, such as cell phone or wi-fi to process payments and print out a receipt for the customer. The VelocityMoney Bluetooth Printer has a built-in credit card swipe/reader and thermal printer. It can be used alone or in conjunction with the HomeATM device to process credit and debit cards remotely and securely while printing out receipts for signature capture.



Continue Reading

Are you a Typer or a Swiper?

Internet Retailer published an article on alternative payments and I found the first line to be the most interesting....



By Thad Rueter - Internet Retailer



When most online shoppers get to the payment page of an e-commerce site they type in a credit or debit card number.





Editor's Note: ...and therein lies the problem (behind the continuing escalation of online payment fraud.)



When brick and mortar shoppers get to the POS they Swipe their card. They don't write their primary card number down on a piece of paper and leave it at the store's checkout counter.  But that's exactly what you are doing when you type your card numbers into a browser.



The simple fact is that In order to properly secure the card holder data, instead of "typing" we should be "swiping." It's what we do in the brick and mortar world...and for good reason. That said, It is extremely important to note that it's not simply the act of "swiping" that makes the transaction secure.



As the eCommerce marketplace matures, (i.e. realizes that browsers are not safe) there has been a couple "swiping" devices introduced over the course of the last year. Square, SmartSwipe, etc.  Yet, to this day, only one device in the world has been PCI 2.0 Certified. Why is that? It is because "encryption is the key" to securing cardholder data.

\

HomeATM understood the importance of strong encryption long ago which is why utilize 3DES encryption for the Track 2 data. (We encrypt the data at the magnetic head of the card reader so it is NEVER in the clear.)



Because our secure hardware solution incorporates a PIN Entry device, it enables us to further protect the online financial transaction with DUKPT encryption for the PIN. (Derived Unique Key Per Transaction)



So if you are curious as to why we are PCI certified and our competitors are not, think encryption. Neither Square, nor SmartSwipe incorporates a PIN Entry Device, so two factor authentication and DUKPT encryption does not, cannot, come into play. It is important to note that neither one 3DES encrypts the Track 2 data.  

So, ask yourself "two questions" the next time you are asked to "type" your card number into a box on a checkout page of a website. 



1. Does it make logical sense for me to be typing my card number into a box?

2. What hardware device best protects my sensitive data.



You'll have to answer the first question yourself, (see related articles below if you are stumped) but the answer to the second question is clearly HomeATM's PCI 2.0 PED certified technology.  Contact me to learn more about how our technology can eliminate phishing and chargebacks and render malware useless.



Editor's Note:  We also have an EMV ready Chip and PIN reader hardware device which will allow online banking authentication, online payment, online bill pay and real-time instant P2P money transfers.  

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• A PIN for All Reasons - GreenSheet (pindebit.blogspot.com)


• Retailers Take a Swipe at 'Swipe Fees' While Internet Retailers Only Wish They Could Pay Them (pindebit.blogspot.com)


• Hackers Target Online Banking - Video CBS (pindebit.blogspot.com)


• CellPhone Encryption Cracked (pindebit.blogspot.com)


• Trust on Trial: Online Banking Industry Awaits Comerica/EMI Lawsuit on Phishing (pindebit.blogspot.com)


• FBI Warns: Use a Separate Machine for Online Banking (pindebit.blogspot.com)


• More on HomeATM's iPhone POS Card Reader: CircleSwipe (pindebit.blogspot.com)

Are you a Typer or a Swiper?

Internet Retailer published an article on alternative payments and I found the first line to be the most interesting....



By Thad Rueter - Internet Retailer



When most online shoppers get to the payment page of an e-commerce site they type in a credit or debit card number.





Editor's Note: ...and therein lies the problem (behind the continuing escalation of online payment fraud.)



When brick and mortar shoppers get to the POS they Swipe their card. They don't write their primary card number down on a piece of paper and leave it at the store's checkout counter.  But that's exactly what you are doing when you type your card numbers into a browser.



The simple fact is that In order to properly secure the card holder data, instead of "typing" we should be "swiping." It's what we do in the brick and mortar world...and for good reason. That said, It is extremely important to note that it's not simply the act of "swiping" that makes the transaction secure.



As the eCommerce marketplace matures, (i.e. realizes that browsers are not safe) there has been a couple "swiping" devices introduced over the course of the last year. Square, SmartSwipe, etc.  Yet, to this day, only one device in the world has been PCI 2.0 Certified. Why is that? It is because "encryption is the key" to securing cardholder data.

\

HomeATM understood the importance of strong encryption long ago which is why utilize 3DES encryption for the Track 2 data. (We encrypt the data at the magnetic head of the card reader so it is NEVER in the clear.)



Because our secure hardware solution incorporates a PIN Entry device, it enables us to further protect the online financial transaction with DUKPT encryption for the PIN. (Derived Unique Key Per Transaction)



So if you are curious as to why we are PCI certified and our competitors are not, think encryption. Neither Square, nor SmartSwipe incorporates a PIN Entry Device, so two factor authentication and DUKPT encryption does not, cannot, come into play. It is important to note that neither one 3DES encrypts the Track 2 data.  

So, ask yourself "two questions" the next time you are asked to "type" your card number into a box on a checkout page of a website. 



1. Does it make logical sense for me to be typing my card number into a box?

2. What hardware device best protects my sensitive data.



You'll have to answer the first question yourself, (see related articles below if you are stumped) but the answer to the second question is clearly HomeATM's PCI 2.0 PED certified technology.  Contact me to learn more about how our technology can eliminate phishing and chargebacks and render malware useless.



Editor's Note:  We also have an EMV ready Chip and PIN reader hardware device which will allow online banking authentication, online payment, online bill pay and real-time instant P2P money transfers.  

Related articles by Zemanta

• A PIN for All Reasons - GreenSheet (pindebit.blogspot.com)


• Retailers Take a Swipe at 'Swipe Fees' While Internet Retailers Only Wish They Could Pay Them (pindebit.blogspot.com)


• Hackers Target Online Banking - Video CBS (pindebit.blogspot.com)


• CellPhone Encryption Cracked (pindebit.blogspot.com)


• Trust on Trial: Online Banking Industry Awaits Comerica/EMI Lawsuit on Phishing (pindebit.blogspot.com)


• FBI Warns: Use a Separate Machine for Online Banking (pindebit.blogspot.com)


• More on HomeATM's iPhone POS Card Reader: CircleSwipe (pindebit.blogspot.com)

Identity Theft: More Likely if You Speak English

SAN JOSE, Calif. - (Business Wire) Online consumers in English-speaking countries are the most frequent victims of identity theft, twice the rate of France, Germany and Spain, according to a new study released by PayPal. With the holiday season fast approaching, three quarters of online shoppers worldwide are concerned about online scams or identity theft. The research, conducted by Ipsos, examined online security fears and habits in the United States, Canada, France, Germany, Spain and the United Kingdom.

The survey found that 10 percent of online shoppers in Canada, the U.S. and the U.K. had experienced identity theft. This compares with only five percent in France, Germany and Spain. Approximately 25 percent of online shoppers in the three English-speaking countries knew friends or family who had their identities stolen.

“This survey shows that while concerns about ID theft form a universal language, more identity theft tends to occur in countries where a higher percentage of e-commerce is concentrated,” said Michael Barrett, chief information security officer for PayPal. “But e-commerce is growing in prominence around the world, and fraudsters will likely follow the money. Consumers everywhere can stay one step ahead and better protect themselves online by following a few simple tips.”

While choosing and safeguarding passwords is one of the most important factors to online security, attitudes and behaviors vary greatly between cultures. German consumers are the most vigilant with passwords. Only about one in four (28 percent) has ever shared an account password with a family member or friend. This compares with 60 percent of Americans and 56 percent of French consumers who shared passwords. Consequently, Germans also experienced the fewest problems with identity theft -- only three percent of German consumers have experienced identity theft, and fewer than one in 10 knows someone who has.

Almost half of consumers in all countries surveyed use important dates, family member names, nicknames or pets’ names as their online passwords. French and Spanish consumers are most lax when it comes to updating their passwords. Sixty-one percent of French consumers and 63 percent of Spanish consumers change their passwords less than once per year or only when required to do so.

The survey found that about 40 percent of consumers in all six countries use social networking sites, and some of these consumers display personal information that they also use for passwords. More than one in four French consumers display their birth dates on social networking sites and also use birth dates as online passwords. Less than 10 percent of consumers in the UK and Canada do the same.

Other Global Findings

• Spanish consumers are relatively new to e-commerce, and more than 80 percent of those respondents said they are concerned that products purchased online will not be as pictured or expected, will be of poor quality, or will not arrive at all.
• Privacy is the number one concern among Canadians, with more than half (53 percent) indicating that they are “very concerned” about protecting their privacy.
• Consumers in Germany, the UK and Canada are least likely to store their passwords on their browsers (70 percent, 61 percent and 58 percent, respectively, never do so). About half of the consumers in the U.S., France and Spain store passwords on their browsers.
• Americans are most likely to write down their passwords in order to remember them (36 percent do so). Fewer than 20 percent of consumers in all other countries surveyed write down passwords.
• More than half of all consumers receive financial statements in the mail. Only 17 percent of consumers in France and 23 percent of consumers in Spain own shredders, compared to a large majority in all other countries.

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