MENTOR, Ohio, March 10, 2009 (GLOBE NEWSWIRE) -- CardinalCommerce Corporation, the worldwide-leading payment brand enabler, today announced a new strategic partnership with CyberSource Corporation (Nasdaq:CYBS), a leading provider of electronic payment and risk management solutions. CardinalCommerce has integrated its Cardinal Centinel(r) Platform with CyberSource's payment management services to provide CyberSource merchants with continued, strengthened support for Verified by Visa (VbV) and MasterCard(r) SecureCode(tm) (MCSC).
Through the partnership, CyberSource is able to leverage Cardinal's team, which provides active monitoring and quality assurance so participating merchants receive the maximum benefits of VbV and MCSC -- including the potential for fraudulent chargeback protection and interchange savings. By utilizing Cardinal's hosted platform, CyberSource customers will also have the benefit of improved reliability and speed for VbV and MCSC transactions. Enhanced transaction performance and Cardinal quality assurance review are designed to create an optimized authentication experience for both merchants and their customers.
"To be entrusted by one of the world's premier online fraud prevention companies is a great achievement for Cardinal," said Tim Sherwin, EVP/CMO, CardinalCommerce. "We are proud of the incredible growth, adoption, and evolution of our Cardinal Centinel platform that has brought us to this very important partnership. Clearly, we are excited to bring our enhanced payer authentication offering together with CyberSource's well-known payment services to grow our business." Story continues below ↓advertisement | your ad here
About CyberSource
CyberSource Corporation is a leading provider of electronic payment and risk management solutions. CyberSource solutions enable electronic payment processing for Web, call center, and POS environments. CyberSource also offers industry leading risk management solutions for merchants accepting card-not-present transactions. CyberSource Professional Services designs, integrates, and optimizes commerce transaction processing systems. Approximately 253,000 businesses use CyberSource solutions, including half the companies comprising the Dow Jones Industrial Average. The company is headquartered in Mountain View, California, and has sales and service offices in Japan, the United Kingdom, and other locations in the United States including Bellevue, Washington and American Fork, Utah. For more information on CyberSource please visit www.cybersource.com or email info@cybersource.com. For more information on Authorize.Net small business solutions, please visit www.authorize.net or email sales@authorize.net.
About CardinalCommerce
CardinalCommerce Corporation is the global leader in enabling authenticated payments, secure transactions and alternative payment brands for both eCommerce and mobile commerce. Cardinal Centinel(r)* enables payment brands such as Verified by Visa, MasterCard(r) SecureCode(tm), Amazon Payments(tm), Bill Me Later(r), Clickandbuy(tm), Ebates(tm), eBillme(tm), eLayaway(tm), Google(tm) Checkout, Green Dot(r) MoneyPak(r), Mazooma(tm), MyECheck, NACHA(r) Secure Vault Payments (SVP), PayPal(tm), RevolutionCard(tm), Western Union(r), Ukash(tm), and more to a network of thousands of merchants and merchant service providers. Our mobile commerce platform, Cardinal MAX(tm), makes it simple for retailers to sell and market products through the mobile channel. Cardinal's proprietary and easily deployable technology provides consumers, merchants, credit/debit card issuers, and processors the ability to conduct authenticated Internet, wireless and mobile transactions safely and securely. Headquartered in Cleveland, Ohio, with facilities in the United States, Europe, and Africa, Cardinal services a worldwide customer base.
For more information, visit www.cardinalcommerce.com
Editor's Note: Once, again...two questions. Where's the PVV, and the PIN offset? HomeATM has a lot of knowledgeable and respected card industry authorities on our side (scroll down to the next post) but what's disconcerting, is that the Top 500 Internet Retailers are eager to save money on Interchange Fees.
Acculynk is smart. They are being very generous with their how they slice their transaction fee pie. They are enticing the EFT Networks with some potentially major cabbage, and since they (the EFT networks) are currently making absolutely $0.00 on the Internet, it's alluring, because they're anxious to penetrate this lucrative market. I hope the lure of the cabbage hasn't clouded their judgment, because almost everyone I am talking to sees some major risks to a serious breach. Speaking of breaches...I have ONE BIG QUESTION. When there is a breach, because it's not iffy, it's whenny, who has the liability? Who will they PIN the Blame on? It it the Internet Retailer? Is it the EFT Network? Or did Acculynk get a $500 million Lloyds of London insurance policy? Somebody's got to pay. Who will it be?
What's good about all this, is the fact that PIN Debit for the Internet is getting some well deserved exposure. What's potentially bad is that PIN's may get some exposure too. "I told you so" won't feel good. I'd rather provide exposure to the risks, than have PIN's exposed to the risk.
It is easy to overlook the online payment platformas a simple link in the e-commerce chain. However, choosing the rightpayment system could make the difference between a successful businessthat is trusted by its customers, and one that is burdened/destroyed by fraud.Asking the right questions of prospective providers and looking closelyat the technical, security, and particularly the anti-fraudcredentials, will help build a solid platform for success online.
Here's the latest press release from Acculynk:
PRESS RELEASE ShoppersChoice.com Runs First PaySecure(TM) PIN Debit Transaction
Acculynk delivers "real" debit card processing via the Internet
ATLANTA, Mar 10, 2009 (BUSINESS WIRE) -- ShoppersChoice.com, a luxury cooking and outdoor living retailer, is processing purchases made with PaySecure(TM), the first and only software service for PIN debit on the Internet.
PaySecure(TM) meets consumer demands for increased security and convenience, while providing merchants lower interchange fees, reduced fraud and charge-backs, guaranteed funds and simple implementation with the online checkout.
"We are very excited to bring PaySecure(TM) to our website because we are constantly seeking new, innovative payment methods that are convenient, safe and easy for our customers to use," said Corey Tisdale, COO, ShoppersChoice.com. "What we especially like about PaySecure(TM) is that our customers don't need to enroll in a program or download an interface to use it, which keeps customers on our site."
Over the past five years, various attempts have been made to bring PIN debit online, but no solution has succeeded in gaining traction with merchants, consumers, EFT networks and issuers. PIN debit is an ideal online payment method because it provides an extra layer of security for consumers and cost savings for merchants, while offering attractive margins to issuers and a new revenue source for EFT networks.
PaySecure(TM) is the first product to gain approval by four EFT networks, including ACCEL/Exchange from Fiserv and NYCE, to run Internet PIN debit transactions.
"The industry has waited a long time for a PIN debit solution that meets the security requirements of the EFT networks but could also be accepted by merchants, consumers and issuers and become a 'standard' for PIN debit online," said Mike Kelly, General Manager of ACCEL/Exchange EFT network, owned by Fiserv, the leading global provider of financial services technology solutions. "We feel Acculynk's product could become this standard."
ShoppersChoice.com represents the first of four pilot merchants that will trial the service. Pending the results of the pilot, over 20% of the Internet 500 retailers have expressed interest in launching the solution as part of their consumer checkout options.
PaySecure(TM) has the potential for widespread adoption because it provides a simple checkout experience and can be used with a consumer's existing debit card and PIN. "PaySecure(TM) leverages a familiar payment method - PIN debit - that is already preferred at the retail point of sale but has never been offered online in a software-only service," said Ashish Bahl, CEO of Acculynk. "We have designed our service to mimic the brick and mortar PIN debit payment experience so it is completely intuitive for customers to understand and use, which will help ensure consumer adoption."
About ShoppersChoice.com ShoppersChoice.com is a luxury cooking and outdoor living retailer. ShoppersChoice.com offers the best service, the best selection, the best trained staff, and the fastest ship times available on- or off-line at a price point that meets or beats all other online retailers. ShoppersChoice.com is one of the Top 500 Internet retailers and is headquartered in Baton Rouge, LA. For more information, visit www.shopperschoice.com. About Acculynk Acculynk is a leading technology provider with a suite of software-only services that secure online transactions. Backed by a powerful encryption and authentication framework protected by a family of issued and pending patents, Acculynk's services provide greater security, reliability, convenience and return on investment for consumers, merchants, networks, issuers and acquirers. For more information, visit www.acculynk.com. SOURCE: Acculynk
Acculynk Corporate Contact: Danielle Duclos, 678-894-7013 Director of Marketing dduclos@acculynk.com
Updated: I just got off the phone with Chris A. Mark, CEO and Founder of the Aegenis Group and the Society of Secure Payment Professionals.
Apparently, John Stewart, Editor of Digital Transaction News, saw this post and called Chris to discuss a "hardware vs. software" approach.
I had our CEO, Ken Mages join us on the phone. Chris is probably one of the foremost experts in PCI and payments security and 1 of about 20 people in the world who "truly" understands how a PIN transaction works, so since Ken is another 1 of the 20, it made sense for him to collaborate with Chris.
In fact, here's a little backgrounder on Mr. Mark: Quite impressive to say the least...
The Aegenis Group is led by
Chris Mark, CISSP, CIPP; CEO/President and Founder
Mr. Mark is an experienced information security professional and PCIexpert. Over the past six years, Mr. Mark has worked in variousinformation security capacities within the payment services’ segment.Most recently, Mr. Mark was employed at MasterCard Worldwide where hewas one of MasterCard’s representatives on the Payment Card IndustrySecurity Standards’ Council (PCI-SSC)Technical Working Group. In addition to founding an informationsecurity company and conducting numerous PCI assessments for merchants,service providers, and members, Mr. Mark has worked with bothMasterCard Worldwide and Visa USA on components of their respectivedata security programs.
Mr. Mark is also contracted with Visa to train all of their majoracquirers and the top 3000 merchants in the PCI DSS. Prior to joiningthe civilian sector, Mr. Mark served in both the United States MarineCorps, where he operated as an elite Force Reconnaissance Marine andMarine Scout/Sniper, and in the US Navy where he was selected to serveas a Navy SEAL Officer. Subsequent to sustaining a career endingtraining injury, Mr. Mark served as the Training Officer and ChiefInstructor of the US Marine Corps Basic Reconnaissance Course where hewas responsible for screening, selecting, and training eliteReconnaissance Marine Candidates. Mr. Mark is a combat veteran ofOperation Continue Hope, Mogadishu, Somalia. Mr. Mark holds the CISSP,and CIPP professional certifications, numerous technicalcertifications, and has an MBA and BA degrees.
Here's an excerpt from an email he sent me:
John,
John Stewart from Digital Transactions called to ask about the differences in Home ATM and Acculink. I was very clear that conceptually I feel HomeATM is a much better solution.
Please feel free to call me to discuss the article comments.
We spoke at length about the security of our solution and he was impressed enough to want to learn more and we are happy to provide him with anything and everything we can so that we can empower his analysis. We agreed to FedEx him a SwipePIN device (pictured below) and we'll talk again after Ken gets back from the Merchant Risk Council meeting in Las Vegas on Thursday or Friday. I'll provide an update. Here's the rest of the story....
In an effort to prove that I am not alone in questioning the security of Acculynk's Floating PIN Pad I am going use a respected third party resource to back up my concerns... just in case people confuse common sense for competitive jealousy. I assure you, I have none. (common sense that is...lol)
In fact, in an act of fairness...I hereby extend an open invitation to any C-Level Executive at Acculynk to address the two questions highlighted on the graphic on the left. I am more than happy to allow them the opportunity to set the record straight. It is not my intention to berate their solution. It IS my intention to prevent a future breach that makes Heartland's pale in comparison...which is exactly what would happen if hackers got their fraudy-little fingers on PIN's.
As I said, I've spoken to Acculynk President Nandan Sheth quite a few times over the course of the last year and have nothing but good things to say about the him. As a matter of fact, after taking my cell-phone off the charger, I see that I missed a call from him earlier this afternoon, so I owe him a return call...
The big questions he asked about (besides security) is that if a "card is not present" (CNP) i.e. in Acculynks model one must manually type in the credit or debit card's personal account number (PAN) and if it's determined that the card can be used with a PIN, then the floating PIN Pad GUI pops up. The e-shopper then uses the floating PIN Pad to enter their PIN. So...with no swipe...just type...they want to know: "Where is the PIN Verification Value (PVV) and where is the PIN Offset stored?" Good questions! In a traditional PIN Debit transaction (like the one that most closely mimics the consumer experience in a grocery store...the PVV and PIN Offset is resident on the magnetic stripe. No Swipe...No Stripe! No Stripe...No PVV...NO PIN Offset.
Besides the fact that in 500+ breaches, software was 92 times more likely to be breached than hardware, those were two more very important reasons why HomeATM went with a Hardware based solution.
Here's an excerpt from the Society of Security Professional Blog:
I (Chris) want to thank Susan Kohl for sending this over. Digital Transactions has published several articles on new technology that will allow PIN Debit for eCommerce sites. Read the article here.
In short, the new technology will present a buyer with a floating ‘PIN Pad’ on the screen. Users can then enter their PIN which will then allow the merchant to immediately debit the user’s account for payment. While the technology appears very compelling from a convenience perspective I have to admit that it also gives me pause. In my mind, there are a number of potential issues with this technology. I am sure (or at least hoping) the companies, banks and card brands are working through these issues but they merit discussion here anyhow.
From a security perspective, I am challenged by the technology. My first thought is key stroke logging and malicious software. Now I know people will likely say that this is possible with traditional eCommerce transactions. This is accurate. In this scenario, however, PIN data is being transmitted. As discussed in a previous entry, there may not be a limit to the liability associated with compromise of PIN data. It brings another question to light, as well.
If the transaction is a ‘card not present’ transaction then where is the PIN Verification Value / PIN Offset stored?
In a traditional PIN Debit transaction it is resident on the magnetic stripe of the card. This has several benefits one of which is that it prevents a data thief from obtaining a PIN and only the primary account number and being able to conduct PIN based transactions.
If the card is not required to be presented, it appears that this would allow fraudsters to obtain the PAN or other card data and the PIN and conduct transactions.
Editor's Note: Holy Grail Batman! See I'm not biased. And I'm not alone with my "concerns." Do you have any? As always, feel free to leave a comment. Click on the title of the post, and the comments will be enabled on the bottom. Have a salubrious weekend!
Yesterday after three years in Montreal, HomeATM Chairman and CEO, Ken Mages, arrived back in his (and mine) hometown of Chicago. One of the first things he did upon arrival was return a phone call to John Stewart, Editor of Digital Transactionsto address the recent announcement by Acculynk that Accel Exchange has agreed to roll out a pilot.
They published the story late yesterday afternoon entitled: "Web Based PIN Debit Picks Up Momentum with Pilot and New Deals" (to read the whole story click the link at the bottom of this post) I found the story interesting on several levels. But my favorite quote is at the end of the story. (click any graphic to enlarge)
To surmise, it all comes down to whether PIN Debit for the Web should be Hardware or Software based. Our position is clear. Their's not so much. Here's an excerpt from the article with my thoughts in bold grey italics...
HomeATM’s Mages contends Acculynk’s product is vulnerable to hackers who could, for example, screen-scrape users’ sessions as they click on the floating PIN pad.
Editor's Note: Screen Scraping is oldhat to BlackHats. The real concern is the recent surge of a NEW generation of attacks, for example: SSL vulnerabilities, Trojans, (for example, Tigger...a new type of malware thatinjects code intouser-mode processes." "This component takes screenshots, hooks COM for spying on browser events, and exports passwords[from] protected storage, network and dial-up. It also steals webcookies, steals certificates, and puts the NIC in promiscuous mode tosniff FTP and POP3 passwords)" worms and man-in-the-middle attacks. But those were not addressed in this particular article. Screen scraping was touched upon...
With HomeATM’s product, cards are swiped and PINs entered only on the peripheral device, with all data encrypted from swipe to transmission to issuers. (Editor's Note: HomeATM also encrypts Track 2 data) “If I can see it on your screen, I can capture it,” Mages argues.
Without going into details, Acculynk’s CEO Ashish Bahl counters that each click is encrypted in ways intended to frustrate hackers. Editor's Note: That's an interesting one. No details I can understand, but when hackers get frustrated they get motivated. Frustrating hackers, in my mind is not the level of security I want associated with PIN Debit for the Web)...
At the same time, he adds, the resources necessary to predict when to start and stop screen scraping with each click would be cost-prohibitive even for determined fraudsters. Editor's Note: Cost prohibitive is relative to the potential return. Personal Identification Numbers are the "holy grail" for hackers. You have the PIN's and you the capability to empty bank accounts. So, in my humble opinion, there's no such thing as a "cost prohibitive" barrier when it comes to PIN's. Especially, if they're "determined." The "Holy Grail" is NOT a cost-prohibitive entity. It's something hackers would want to get their hands on "at all costs."
For now, Accel/Exchange is satisfied with the security of Acculynk’s system.Editor's Note: I would suggest that "for now" sends the wrong message. Yeah, it's good "for now" and we'll take a wait and see approach as to whether or not we're right? That's a pretty bold gamble. Too bold. Heartland's CEO thought the same thing...we're good for now...but then after what could be the biggest breach ever, he called for end-to-end encryption. Translation: It wasn't good enough.
“We did our own [investigative] work, then we sent in a third-party auditor,” says Kelly. “They approved it.” Editor's Note: Okay, so Accel Exchange is willing to take the risk that they could be forever remembered as "Accel Exchange for PIN's to Hackers" but WHO? is the 3rd party auditor? Why aren't they putting their reputation on the line as is Accel? Could it be TrustWave? They're the group that PCI certified Hannaford, RBS WorldPay and Heartland. Speaking of PCI certified...it's literally impossible to certify each and every PC that is used to enter the PIN's...so why was there no mention in this article on how they're going to address that issue?)
Kelly says he can’t predict which method (Hardware vs. Software) will ultimately dominate what is now a nascent business in processing Web-based PIN debit transactions. “Who knows who’s going to be the right solution?” he says. Editor's Note: Did he just really say that he can't predict which method is right and that he doesn't know if what he's doing is right? No...maybe I read that wrong...
“For us, Acculynk most accurately mimics the consumer experience at a grocery store.” Editor's Note: I KNOW I read that right: This is scary folks...he said, "most accurately "MIMICS the consumer experience at a GROCERY STORE? He did say that right? I hate to sound sardonic, but when was the last time you walked into a grocery store and used a floating PIN Pad? I go to the grocery store quite often and everytime...including the last time...there was a "HARDWARE" device. Maybe what he meant to say is that it mimics the grocery store experience in the sense that someone can look over your shoulder and watch you enter your PIN.
Sounds like Mr. Kelly is a bit confused. In order to make sure there is NO confusion, HomeATM's "Third Party" was Witham Laboratories, 1 of 8 approved by PCI to test...and they vigorously tested and found our hardware device to "meet or exceed" PCI PED 2.0 standards.
Furthermore, HomeATM's hardware device not only "accurately mimics" the consumer experience at the grocery store, it does it one step better. It "PRECISELY MIMICS" the consumer experience in the lobby of their bank. (not the satellite one down the street) The only difference is that(unless you install your own) there's no possibility of a hidden camerato record your PIN as you enter it, there's no possibility of askimming device, and even if someone were to break into your home,leave your 52' LCD on the wall and try and tamper with our device, itwould shut down, because it's literally "tamper proof."
I understand why Accel Exchange is willing to take drastic measures to increase their growth (see chart above left...they have the most minitesmal growth of any EFT Network in the Top 10) but this may be a bit TOO drastic. The only thing that's SAFE to say about this development is that since Accel is only in 6 out of 50 states, (Alaska, California, Idaho, Nevada, Oregon and Washington) 88% of the country will still have PIN security.
The HomeATM PIN Payments Blog has been honored with a "Best of the Best" classification from Alltop. We humbly accept. (Follow this blog on Twitter).
We've been placed in the "banking section" along notables such as Glenbrooks's Payments News, NetBanker, (the Finovate people) Bank Info Security and the New York Times Banking Section. (see graphic on right)
As long as I've started a post announcing our inclusion in Alltop's Best of the Best, let me clarify something that's been bothering me. We (along with a myriad of others) have been referred to as "an alternative payments company." Quite the opposite is true. HomeATM does not offer an alternative payment platform. We offer a mainstream platform for an alternative space. There are lots of "alternative payment" companies out there. In fact one seems to crop up every week. What makes HomeATM's PIN Payment platform DIFFERENT is this:
A PIN based payment is NOT an alternative payment at all. Debit recently overtook Cash as King, and PIN Debit is the most preferred form of payment by BOTH consumers and merchants alike. Our platform most accurately mimics the consumer experience at a grocery store. Swipe your card (more convenient than having to type a 14-16 digit number), and enter your PIN.
Therefore it is a "Mainstream" payment. The only difference is, with HomeATM's SwipePIN device, you would do it in the safety of your own Homethereby alleviating the risk of someone looking over your shoulder andstealing your PIN. Another big difference is that with your own "personal" swiping device, you know it hasn't been tampered with. In addition, the PIN is end-to-end encrypted.
The only thing alternative to PIN Payments is that there are "two" approaches (alternatives) towards providing a PIN Payment mechanism for the Internet. 1. Hardware 2. Software
When it comes to breaches, software is, well, "soft."92% of 500+ breaches were software related. 1% was Hardware. (Tampering caused the vast majority of Hardware breaches and ..our's is "tamper-proof."
Based on the logic exemplified from that statement, it's not surprising they've chosen Acculynk. Meanwhile, a much larger (10 times) EFT Network has already written off a software based solution as potentially dangerous to the whole ATM Debit ecosystem.
Speaking of "Confirmation we Kick Ass,"... for hundreds of years people have fought for what they believe to be right. But...we have yet begun to fight. HomeATM believes common sense will prevail. But first, here's a swift kick in the ass to a software based PIN application.
Without obtaining the PIN Offset, or the PIN Verification Value, which both reside on the magnetic stripe, your PIN can (we say...will) be compromised. Swipe...never Type. If your card information is going to be "swiped" anyway, should you be the one doing the "SwipePIN?"
If the transaction is a ‘card not present’ transaction then where isthe PIN Verification Value / PIN Offset stored? In a traditional PINDebit transaction it is resident on the magnetic stripe of the card. This has several benefits one of which is that it prevents a datathief from obtaining a PIN and only the primary account number andbeing able to conduct PIN based transactions. If the card is notrequired to be presented, it appears that this would allow fraudstersto obtain the PAN or other card data and the PIN and conducttransactions.
So where's the "logic" behind the Accel Exchange's decision to implement a software based solution which DOES NOT protect the PIN? One can only guess they're using the same logic they used when they said that a "floating PIN pad" most accurately mimics the consumer experience at the grocery store. (click picture to enlarge)
Forex bureaus face competition from ‘intelligent’ ATMs Written by Okuttah Mark March 9, 2009:
The roll out of new automated teller machines (ATMs) that can enable individuals to change foreign currency, deposit cash and checks will not only change how people transact business, but also poses a threat to forex bureaus.
The new development comes as some banks roll out mobile and Internet-based banking in a bid to cut costs, increase efficiency and reach a wider audience.
The first of its kind to be installed in Kenya, the new “intelligent” ATMs unlike those currently used, will enable users, both those with the bank accounts or without, to deposit cash or checks without having to put them in envelopes.
“Depositing cash through the ATMs while wrapped in envelopes requires that at least two tellers must be present to confirm the amount, while the client who deposits it after working hours must wait up to 11 a.m the following day before it reflects in his or her account,” said Wilson Kigwa, the marketing manager at NCR, an American company that provides technology solutions to financial institutions.
However with the new ATMs, the cash deposited is reflected in the account within minutes, thereby giving the client ability to withdraw the cash or part of it just immediately when need arises.
Visa's new Aquarium Television Commercial. More People Go with Visa.
Client: Visa Agency: TBWA/Chiat/Day, Los Angeles Executive Creative Director: Rob Schwartz Group Creative Director: Patrick O'Neill Art Director: John Dwight Copywriter: Paul Sincoff Agency Executive Producer: Guia Iacomin Agency Senior Producer: Veronica Beach Agency Producer: Aileen Baliat Production Company: foreignfilms Director: Matthias Zentner Executive Producer: Federico Fasolino Line Producer: Gustaf Richter Post Production: Velvet Post Executive Producer: Gustaf Richter Editor: Jochen Kraus Flame Artist: Sylvi Roessler Shake: Manuel Voss, Christian Stanzel, Viktoria Herbert, Tobias Wiesner CGI: Blackmountain VFX Supervisor: Abdelkareem Abonamous, Andreas Illenseer Director of Photography: Torsten Lippstock Underwater DOP: Didier Noirot Sound Design: Amber Music Executive Producer (Amber): Michelle Curran
Web.com and Chase Paymentech Form Alliance to Benefit Small and Medium-Sized Businesses
Joint Collaboration Provides Merchant Payment Processing Solutions to Web.com Customers
DALLAS, TX. AND JACKSONVILLE, FL. – March 9, 2009 – Web.com (NASDAQ:WWWW), a leading provider of online marketing for small businesses,announced today an agreement with Chase Paymentech to offer merchantpayment processing solutions to small and medium-sized businesses(SMBs). Chase Paymentech is widely-recognized as a leader in merchantacquiring and payment processing and provides SMBs with affordablemerchant payment processing and online marketing solutions.
Web.com customers will have access to multiple secure paymentprocessing services including all major credit, debit and customizablegift cards.
"This partnership is a natural fit matching two companies with asingular vision to assist small and medium-sized businesses to grow theprofits of their businesses," said Peter Gasparro, Group Executive forChase Paymentech. "Our merchants depend on our industry-leading paymentplatform, from stored-value solutions and point-of-sale payments, toonline transactions. Our commitment to excellence and staying ahead ofthe curve is what led us to partner with Web.com."
"To be able to offer our customers a full spectrum of secure andreliable payment processing solutions by an industry leader is anexciting development," said David Brown, Chairman and CEO of Web.com."Giving our customers innovative payment tools at the same paymenttransaction rates generally available to larger companies, gives them amuch needed advantage. We anticipate that this partnership willbenefit the vast majority of our customers presenting them withadditional ways to grow their business, save considerable costs andtake advantage of the latest merchant payment solutions."
Under this arrangement with Web.com, merchants will have access toChase Paymentech’s suite of electronic-payment solutions and will beeligible for a free rate analysis to understand their total cost ofaccepting electronic payments. SMBs interested in obtaining a free rate analysis, can call 866-550-6151. Additional information can be found at: http://www.web.com/landing/chase/default.aspx.
About Chase Paymentech Chase Paymentech, a business unit ofJPMorgan Chase, is a global leader in payment processing and merchantacquiring, capable of authorizing transactions in more than 130currencies. The company’s proprietary platforms provide access to awide variety of payment methods, such as credit cards, debit cards,prepaid stored value cards and electronic check processing. With alegacy of innovation and vision in electronic payments, ChasePaymentech promoted the growth of eCommerce worldwide. The companycontinues to fuel the success of the Internet's largest brands,currently processing more than 50 percent of all Internet transactions.Offering secure payment solutions, improving cash-flow management,mitigating risk and accelerating funding - Chase Paymentech'sconsultative approach helps today's small and emerging businessesbecome tomorrow's industry leaders. On the Internet or at the point ofsale, Chase Paymentech's unique combination of outstanding service,innovative solutions and financial strength offers solid benefits tocompanies both large and small. More information can be found at www.chasepaymentech.com.
About Web.com Web.com Group, Inc. (NASDAQ: WWWW) is a leadingprovider of online marketing for small businesses. Web.com offers afull range of online services, including Internet marketing andadvertising, local search, search engine marketing, search engineoptimization, lead generation, home contractor specific leads, websitedesign and publishing, logo and brand development and eCommercesolutions, meeting the needs of small businesses anywhere along theirlifecycle. For more information on the company, please visit www.web.com or call 1-800-GETSITE.
France Telecom's mobile network subsidiary Orange and Barclaycard are joining forces to develop new mobile payment technology for transactions under £10, the firms announced this morning.
The companies said 28 million customers in Londonwill be able to use their mobile phones to pay for goods and services at retailers simply by waving their handset against a reader.
Both are looking to expand the partnership to include other contactless services in ticketing, transport and rewards. MasterCard will provide the payment capabilities for the transactions.
This will be the biggest revolution in payments since plastic cards were introduced more than 40 years ago, they said.
The capacity to pay by mobile will emerge over the next few months from marketing schemes being set up by the firms. Orange UK CEO Tom Alexander said more companies were looking to the mobile industry "to evolve" the way they do business with their customers. "A key part of our strategy at Orange is to grow and evolve our business in order to provide people with services beyond talk and text."
Antony Jenkins, CEO of Barclaycard, said, "There has been a lot of talk about mobile payments and now it is going to become a reality for our customers because of Barclaycard's commitment to contactless technology. I believe that all our UK customers will be able to use their mobile phones to pay for everyday items within three years."
MENTOR, Ohio, March 10, 2009 (GLOBE NEWSWIRE) -- CardinalCommerce Corporation, the worldwide-leading payment brand enabler, today announced a new strategic partnership with CyberSource Corporation (Nasdaq:CYBS), a leading provider of electronic payment and risk management solutions. CardinalCommerce has integrated its Cardinal Centinel(r) Platform with CyberSource's payment management services to provide CyberSource merchants with continued, strengthened support for Verified by Visa (VbV) and MasterCard(r) SecureCode(tm) (MCSC).
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