Visa Inc. Statement: Senate Passage of S. 3217

SAN FRANCISCO--(BUSINESS WIRE)--The following is a statement from Visa Inc. in response to Senate passage of S. 3217:

“The Durbin amendment is not germane to the overall Financial Reform bill legislation. We hope Congress sees the amendment for what it is – an attempt by retailers to increase their profits at the expense of consumers.”

“We are disappointed that legislation intended to make our financial system safer and fairer for consumers includes an irresponsible and anti-consumer amendment offered by Senator Durbin. Adopted with no debate or review of facts, the amendment allows retailers’ to shift their cost for accepting debit cards onto the backs of consumers while they continue to receive the value of electronic payments – including faster check-outs, ticket lift and guaranteed payment.

“Written and backed by lobbyists representing the nation’s largest retailers, the Durbin amendment could significantly harm consumers. Consumers could have less choice, higher costs and could experience an increase in costs for checking accounts and online banking fees and reduced debit card benefits like fraud protection and rewards. Those who rely on prepaid cards for government disbursement, such as child support, could be particularly hard hit.

“For financial institutions, this amendment could force them to reduce or eliminate valuable debit and checking account services and could especially harm community banks and credit unions that depend on interchange to offer competitive banking services to firefighters, police officers, teachers, veterans, congressional staffers and other customers.

“The Durbin amendment also gives retailers the power to set arbitrary, minimum purchase requirements for consumers choosing to pay with plastic. This means that customers who want to buy a gallon of milk or loaf of bread could be forced to buy more unnecessarily if they use electronic payments at the register. This could be especially devastating for those on a fixed income who rely on prepaid cards for government disbursements such as social security.

“The Durbin amendment is not germane to the overall Financial Reform bill legislation. We hope Congress sees the amendment for what it is – an attempt by retailers to increase their profits at the expense of consumers.”

Contacts

For Visa Inc.

Steve Burke, 703-683-5004, ext. 108

sburke@crcpublicrelations.com

Permalink: http://www.businesswire.com/news/home/20100520007036/en/Visa-Statement-Senate-Passage-S.-3217

Visa Inc. Statement: Senate Passage of S. 3217

SAN FRANCISCO--(BUSINESS WIRE)--The following is a statement from Visa Inc. in response to Senate passage of S. 3217:

“The Durbin amendment is not germane to the overall Financial Reform bill legislation. We hope Congress sees the amendment for what it is – an attempt by retailers to increase their profits at the expense of consumers.”

“We are disappointed that legislation intended to make our financial system safer and fairer for consumers includes an irresponsible and anti-consumer amendment offered by Senator Durbin. Adopted with no debate or review of facts, the amendment allows retailers’ to shift their cost for accepting debit cards onto the backs of consumers while they continue to receive the value of electronic payments – including faster check-outs, ticket lift and guaranteed payment.

“Written and backed by lobbyists representing the nation’s largest retailers, the Durbin amendment could significantly harm consumers. Consumers could have less choice, higher costs and could experience an increase in costs for checking accounts and online banking fees and reduced debit card benefits like fraud protection and rewards. Those who rely on prepaid cards for government disbursement, such as child support, could be particularly hard hit.

“For financial institutions, this amendment could force them to reduce or eliminate valuable debit and checking account services and could especially harm community banks and credit unions that depend on interchange to offer competitive banking services to firefighters, police officers, teachers, veterans, congressional staffers and other customers.

“The Durbin amendment also gives retailers the power to set arbitrary, minimum purchase requirements for consumers choosing to pay with plastic. This means that customers who want to buy a gallon of milk or loaf of bread could be forced to buy more unnecessarily if they use electronic payments at the register. This could be especially devastating for those on a fixed income who rely on prepaid cards for government disbursements such as social security.

“The Durbin amendment is not germane to the overall Financial Reform bill legislation. We hope Congress sees the amendment for what it is – an attempt by retailers to increase their profits at the expense of consumers.”

Contacts

For Visa Inc.

Steve Burke, 703-683-5004, ext. 108

sburke@crcpublicrelations.com

Permalink: http://www.businesswire.com/news/home/20100520007036/en/Visa-Statement-Senate-Passage-S.-3217

World EFT POS Terminals Market - Frost and Sullivan

Accent on Security Standards to Drive Reterminalization and Growth of the World Electronic Funds Transfer at Point of Sale Terminals Market, Finds Frost & Sullivan

MOUNTAIN VIEW, Calif., May 21 /PRNewswire/ -- The world electronic funds transfer at point of sale (EFT POS) terminals market grew at a rate of 10.3 percent in unit shipment in 2008 over 2007. Security concerns are the major factors driving EFT POS terminal uptake globally. The alarming increase in payment fraud worldwide has led to renewed interest in establishing security standards that include end-to-end encryption of data and compliance with directions from the major card issuers. The switch toward Europay, MasterCard, and Visa (EMV) and payment card industry-pin entry device (PCI-PED) has upped terminal sales growth, particularly in Europe, Asia Pacific, and Latin America.

When everyone realizes what Kapersky knows

millions will need PCI PED's.  The version above is

for the USA.  We also have an EMV Version pictured below 

New analysis from Frost & Sullivan (http://www.kiosks.frost.com), World EFT POS Terminals Market, finds that the market earned revenues of over $2 billion in 2008, and estimates this to exceed $3.4 billion in 2014.

If you are interested in a virtual brochure on this study, please send an e-mail to Sarah Saatzer, Corporate Communications, at sarah.saatzer@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.

"The EMV guidelines require all magnetic stripe cards be replaced by chip-based ones as per the deadlines set for each geographic region, failing which the liability of fraud would shift from card issuers to banks and financial institutions," saysFrost & Sullivan Industry Analyst Aravindh Vanchesan. "As a result, legacy terminals that are incapable of handling smart cards are being replaced by newer systems on a large scale in countries such as the UK, France, Brazil, China, etc."

Vendors in this domain are continuing to innovate and offer greater functionality at the point of sale, encouraging retailers to upgrade their legacy systems.

The current economic crisis, which started in late 2007, has resulted in prolonged recession in some of the major POS markets in the United States, Western Europe, and parts of Asia and Latin America. As the eventual recovery cycle is unpredictable, all participants in the POS industry will continue to be negatively affected by the disruption in credit markets and macro-economies in the short term.

Global credit markets have also been affected by declining consumer confidence and spending worldwide. Hundreds of retail chains and several high-profile financial institutions have filed for bankruptcy in recent times. Many promising projects have been either shelved or delayed due to the lack of access to credit or capital. Apart from lower sales volumes, the steep discounts offered by manufacturers to tide through this crisis erode profit margins further.

With growing awareness on the latest technologies and multi-application capabilities of the new generation of terminals, the focus on price is expected to diminish and result in significant investments.

"Merchants need to take advantage of the new state-of-the-art payment terminals that go beyond the basic secure credit/debit functions by enhancing the customer experience and generating new revenue streams," says Aravindh. "Vendors should be pushing it as the key value proposition – transforming the payment terminal into a customer relationship management (CRM) device that is critical to the merchant's business."

At present, EFT terminals are capable of running a range of concurrent applications such as money transfer, bill payment, age verification, mobile top-up, couponing, and so on. Loyalty programs and gift cards applications are the most popular worldwide. This allows merchants to identify the profiles of potential customers and segment them according to their lifestyle and buying behavior. Moreover, it also enhances the overall shopping experience for consumers.

World EFT POS Terminals Market is part of the Kiosks & Retail Systems Growth Partnership Services program, which also includes research in the following markets: Payment Systems in the Petroleum Market, World Self-Checkout Systems Market, World ATM Market, World Retail Software Market, and World Retail Printers Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visithttp://www.frost.com.

World EFT POS Terminals Market
N6BD
Contact:
Sarah Saatzer
Corporate Communications – North America
P: 210.477.8427
E: sarah.saatzer@frost.com
http://www.frost.com

SOURCE Frost & Sullivan

World EFT POS Terminals Market - Frost and Sullivan

Accent on Security Standards to Drive Reterminalization and Growth of the World Electronic Funds Transfer at Point of Sale Terminals Market, Finds Frost & Sullivan

MOUNTAIN VIEW, Calif., May 21 /PRNewswire/ -- The world electronic funds transfer at point of sale (EFT POS) terminals market grew at a rate of 10.3 percent in unit shipment in 2008 over 2007. Security concerns are the major factors driving EFT POS terminal uptake globally. The alarming increase in payment fraud worldwide has led to renewed interest in establishing security standards that include end-to-end encryption of data and compliance with directions from the major card issuers. The switch toward Europay, MasterCard, and Visa (EMV) and payment card industry-pin entry device (PCI-PED) has upped terminal sales growth, particularly in Europe, Asia Pacific, and Latin America.

When everyone realizes what Kapersky knows

millions will need PCI PED's.  The version above is

for the USA.  We also have an EMV Version pictured below 

New analysis from Frost & Sullivan (http://www.kiosks.frost.com), World EFT POS Terminals Market, finds that the market earned revenues of over $2 billion in 2008, and estimates this to exceed $3.4 billion in 2014.

If you are interested in a virtual brochure on this study, please send an e-mail to Sarah Saatzer, Corporate Communications, at sarah.saatzer@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.

"The EMV guidelines require all magnetic stripe cards be replaced by chip-based ones as per the deadlines set for each geographic region, failing which the liability of fraud would shift from card issuers to banks and financial institutions," saysFrost & Sullivan Industry Analyst Aravindh Vanchesan. "As a result, legacy terminals that are incapable of handling smart cards are being replaced by newer systems on a large scale in countries such as the UK, France, Brazil, China, etc."

Vendors in this domain are continuing to innovate and offer greater functionality at the point of sale, encouraging retailers to upgrade their legacy systems.

The current economic crisis, which started in late 2007, has resulted in prolonged recession in some of the major POS markets in the United States, Western Europe, and parts of Asia and Latin America. As the eventual recovery cycle is unpredictable, all participants in the POS industry will continue to be negatively affected by the disruption in credit markets and macro-economies in the short term.

Global credit markets have also been affected by declining consumer confidence and spending worldwide. Hundreds of retail chains and several high-profile financial institutions have filed for bankruptcy in recent times. Many promising projects have been either shelved or delayed due to the lack of access to credit or capital. Apart from lower sales volumes, the steep discounts offered by manufacturers to tide through this crisis erode profit margins further.

With growing awareness on the latest technologies and multi-application capabilities of the new generation of terminals, the focus on price is expected to diminish and result in significant investments.

"Merchants need to take advantage of the new state-of-the-art payment terminals that go beyond the basic secure credit/debit functions by enhancing the customer experience and generating new revenue streams," says Aravindh. "Vendors should be pushing it as the key value proposition – transforming the payment terminal into a customer relationship management (CRM) device that is critical to the merchant's business."

At present, EFT terminals are capable of running a range of concurrent applications such as money transfer, bill payment, age verification, mobile top-up, couponing, and so on. Loyalty programs and gift cards applications are the most popular worldwide. This allows merchants to identify the profiles of potential customers and segment them according to their lifestyle and buying behavior. Moreover, it also enhances the overall shopping experience for consumers.

World EFT POS Terminals Market is part of the Kiosks & Retail Systems Growth Partnership Services program, which also includes research in the following markets: Payment Systems in the Petroleum Market, World Self-Checkout Systems Market, World ATM Market, World Retail Software Market, and World Retail Printers Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visithttp://www.frost.com.

World EFT POS Terminals Market
N6BD
Contact:
Sarah Saatzer
Corporate Communications – North America
P: 210.477.8427
E: sarah.saatzer@frost.com
http://www.frost.com

SOURCE Frost & Sullivan

Gemalto and Orange Partner to Deploy Trusted Services in Europe’s First Commercial Mobile NFC Roll-out

Image via Wikipedia

Amsterdam, The Netherlands, May 21, 2010 - Gemalto, the world leader in digital security, today announced the continuation of its long-term partnership with Orange France, as part of the “Nice, mobile contactless city” commercial project. Orange has selected Gemalto as partner for its Near Field Communication (NFC) solution, enabling the interconnection with any service provider, such as banks and transport operators.

The "Nice, mobile contactless city" project is the first commercial launch of contactless mobile services in Europe. With the support of the French government, it is being developed in conjunction with mobile operators, banks, transport operators and the retail sector. It allows citizens and visitors in Nice to use their NFC-enabled mobile phones to pay at restaurants, supermarkets and local stores, as well as riding the city's buses and tramways, all in total convenience and digital security.

The "Nice, mobile contactless city" solution is designed to interface with Trusted Service Partner platforms in an open environment. It complies with the latest EPC (European Payment Council)-GSMA standards and will enable the secure, over–the-air activation of their applications in UICC cards. Gemalto’s partnership with Orange and other parties delivers in the Nice project the best-in class trusted service technology, that will help boost the uptake of mobile contactless services.

“Orange believes contactless mobile services will transform consumers’ lifestyles and we are proud to be one of the world’s first mobile network operators to deliver these to our subscribers,” said Laurent Michel, innovative projects director, Orange. “We have selected Gemalto’s solution because it complies with the latest industry specifications and offers the flexibility required to ramp up additional mobile contactless services.”

“Gemalto is proud and excited to be partnering Orange for the first real-life commercial deployment of mobile NFC services in Europe,” added Rémi de Fouchier, senior vice president, Trusted Services Management, Gemalto. “The contactless mobile market is very dynamic, with strong potential in France and around the world. We look forward to contributing our expertise to further enrich the ecosystem and to facilitate the collaboration between mobile network operators and service providers.”

About Gemalto

Gemalto (Euronext NL 0000400653 GTO) is the world leader in digital security with 2009 annual revenues of €1.65 billion, and over 10,000 employees operating out of 75 offices, with research and service centers in 41 countries.

Gemalto is at the heart of our evolving digital society. The freedom to communicate, travel, shop, bank, entertain, and work—anytime, anywhere—has become an integral part of what people want and expect, in ways that are convenient, enjoyable and secure.

Gemalto delivers on the growing demands of billions of people worldwide for mobile connectivity, identity and data protection, credit card safety, health and transportation services, e-government and national security. We do this by supplying to governments, wireless operators, banks and enterprises a wide range of secure personal devices, such as subscriber identification modules (SIM), Universal Integrated Circuit Cards (UICC) in mobile phones, smart banking cards, smart card access badges, electronic passports, and USB tokens for online identity protection. To complete the solution we also provide software, systems and services to help our customers achieve their goals.

As the use of Gemalto’s software and secure devices increases with the number of people interacting in the digital and wireless world, the company is poised to thrive over the coming years.

For more information please visit www.gemalto.com.