Tuesday, December 14, 2010

ClickandBuy Selects Voltage Security to Address PCI DSS Compliance and PII Data Protection Requirements


Dec 14, 2010 06:05 ET

Leading Global Online Payment Processor Will Use Voltage Tokenization Solutions to Protect Confidential Customer Card and Payment Data

LONDON--(Marketwire - December 14, 2010) - Voltage Security, Inc. (www.voltage.com), the global leader in enterprise and payment card data protection inside and outside the cloud, and ClickandBuy (www.clickandbuy.com), one of the world's leading online payment systems, today announced that Voltage Security solutions have been selected to provide advanced data security and protect ClickandBuy's customer cardholder, PAN (Personal Account Number), payment data and PII (personally identifiable data) as part of addressing PCI DSS (Payment Card Industry Data Security Standard) compliance.
"With transaction volumes of over one billion Euros, over 13 million end-user customers, and more than 16,000 online merchants and growing, ClickandBuy was looking for the most advanced, cryptographically-proven security solution to protect customer's sensitive cardholder data as well as to address its broader data security needs. We are pleased to add ClickandBuy to a rapidly growing list of top brands that are addressing their PCI DSS compliance and other data security requirements using Voltage's innovative and game-changing technology solutions," said Ravi Pather, vice president of EMEA Sales, Voltage Security.
"Having conducted an extensive evaluation of the leading tokenization and encryption-based solutions for data security, Voltage became the obvious choice due primarily to the ease of integration into our infrastructure, including numerous back office trading applications and databases, which meant we did not need to make application changes," said Dr. Kurpinski, Group CTO, ClickandBuy. "Voltage's simplified key management also provides significant advantages such as reduced infrastructure and operational overhead and therefore, lower total cost of ownership for the overall system."
Voltage end-to-end payment security solutions are available integrated with a variety of hardware platforms and as a software-only implementation for e-commerce. For a full list of Voltage payment partners please visit: www.voltage.com/partners/payment.htm.
About ClickandBuyClickandBuy is one of the leading payment services in the internet. Certified by McAfee and tested by Germany's Technical Inspection and Testing Association (TÜV), this online payment system is used for internet purchases by over 13 million people. Having doubled its turnover generated by traders and end customers to EUR 922 million (TTV) in 2008, the ClickandBuy Group first crossed the billion euro threshold in 2009.
Over 16.000 online traders use ClickandBuy's e-payment system for their e-commerce, retail, online entertainment, and paid content & services billing, including Deutsche Telekom, Scout24 Group, Apple iTunes, Napster, Orange, msn, AOL, Meetic, Parship, Electronic Arts (EA), Codemasters, McAfee, Panda, RTL, Playboy, Financial Times Deutschland, Foto.com, Deutsche Boerse Group, KPMG, Yamaha, Digital River, Redcoon, bonprix (Otto Group).
Founded in 1999, ClickandBuy represents over 10 years of experience and expertise in the e-payment market. The online payment system is operated by ClickandBuy International Ltd. in London. Since the merger on 1 April 2010 the ClickandBuy Group has been a wholly-owned subsidiary of the Deutsche Telekom AG. As an e-money institution licensed by the UK's Financial Services Authority (FSA), ClickandBuy's complete service includes 120 currencies and offers 50 national and international modes of payment throughout 31 countries.
About Voltage SecurityVoltage Security, Inc., an enterprise security company, is an encryption innovator and global leader in enterprise and payment card data protection for data residing both inside and outside the cloud. Voltage solutions provide cloud-scale encryption and simplified key management for protecting sensitive information wherever it is stored and processed, on-premise or in private and public clouds. Voltage solutions are in use at almost 1,000 enterprise customers, including some of the world's leading brand-name companies in payments, banking, retail, insurance, energy, healthcare and government.
Voltage solutions reduce the risks associated with theft of sensitive and private information, support privacy guidelines including PCI DSS, HITECH, U.S. Data Breach Disclosure laws and European Data Privacy directives, and uniquely provide security of data coupled with unmatched usability which results in significantly lowered total cost of ownership.
Harnessing award-winning cryptography and key management, including Voltage Identity-Based Encryption™ (IBE) and a breakthrough innovation in data usability, Format-Preserving Encryption™ (FPE), Voltage solutions have changed how enterprises protect their most valuable asset, their customer data. Offerings include Voltage SecureMail™, Voltage SecureData™, Voltage SecureFile™ and Voltage Cloud Services™ which provides cloud scale encryption and key management for businesses, partners and their customers. The Company has been issued several patents based upon breakthrough research in mathematics and cryptographic systems. To learn more about Voltage customers please visit www.voltage.com/customers.
Note: Voltage Identity-Based Encryption, Voltage Format-Preserving Encryption, Voltage SecureMail, Voltage SecureFile, Voltage SecureData and the Voltage Cloud Services are registered trademarks of Voltage Security, Inc. All other trademarks are property of their respective owners.
Media Contacts:Julie McHenry
Communications Insight, LLC
+1 650-504-6655 (m)
julie@comminsight.com
ORPaula Dunne
Contos Dunne Communications
+1 408-776-1400 (o)
+1 408-893-8750 (m)
paula@contosdunne.com

ClickandBuy contact :Kateryna Gorliak
Public Relations Manager
+49 (0) 221 17738 991
kateryna.gorliak@ClickandBuy.com





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eCommLink Says it Releases First Truly Global Payments Processing Platform


Platform Supports EMV, MasterCard Banknet, International Regulations and Localization

LAS VEGAS, Dec. 14, 2010 /PRNewswire/ -- eCommLink, a leading value-added prepaid debit processor, announced today the release of its new global processing platform, the first of its kind to support the full array of international payments. The architecture of the new platform enables simple localization of the processing engine based on regional regulations, language, currency and processing standards while still offering the flexibility and robust feature set that has made eCommLink's legacy platform so successful. The platform truly provides international coverage, enabling large, multinational companies to utilize a single platform to support programs in every country they serve.
"We made a conscious decision as a company that the international prepaid market would be our company's future. We took the time to create, in house, a truly globalized processing platform that would build upon the success of our existing offerings. The result is a powerful, seamless solution for global markets and an even more flexible and reliable solution for our domestic clients," stated Ennio Ponzetto, CEO, eCommLink, Inc.
eCommLink's initial international expansion efforts have focused on the European and Latin American markets. The platform includes full EMV processing and a direct connection to MasterCard's Banknet platform to enable fast, reliable transaction processing in both regions.
"EMV is not just a requirement in most other countries, it is a huge opportunity for prepaid everywhere as it enables advanced applications and solutions. While the U.S. market isn't quite ready for EMV as a whole, there are some opportunities here today, like travel and expense cards, that we're excited to be able to support with this new technology," commented Peter Zuong, CIO, eCommLink.
"The completion of this global platform is really the realization of a dream for eCommLink. We now have a single, unified solution for all markets that delivers unparalleled reliability, flexibility and value," added Mr. Ponzetto.
About eCommLink, Inc.
eCommLink, Inc. (www.ecommlink.com) enables program managers and financial institutions to maximize revenue from their prepaid debit programs. The Company's flexible prepaid processing platform, innovative features and industry experience allows clients to create customized prepaid programs for their specific markets or leverage eCommLink's Market ReadyTMturnkey program for faster entry into the prepaid debit space. eCommLink supports the full array of prepaid debit programs, including general spend, payroll, teen, gift, travel, government and loyalty cards, while ensuring quality, security and time to market.
SOURCE eCommLink, Inc.



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Zeus Botnet Targets Major US Retailers


Submitted by Amit Klein, from the Trusteer Blog on December 08, 2010
"Our research group recently discovered a Zeus botnet that is targeting credit card accounts of major US retailers including Macy’s and Nordstrom just as the holiday gift buying season is in full swing. We captured and analyzed malware samples designed to steal credit card information, probably in order to conduct card-not-present (CNP) fraud. This attack is using a Zeus 2.1.0.8 botnet – the latest and most sophisticated version of the Zeus malware platform.
CNP fraud refers to transactions when a credit card is not physically present, as in an internet, mail or phone purchase. It is difficult for a merchant to verify that the actual cardholder is indeed authorizing the purchase. Because of the greater risk, card issuers tend to charge merchants higher fees for CNP transactions. To make matters worse, merchants are typically responsible for CNP fraud transactions.  Therefore, CNP merchants must take extra precaution against fraud exposure and associated losses.
The attack we discovered uses social engineering to gather additional information beyond the credit card number that will make it easier for the criminal to bypass fraud detection measures used to investigate suspicious transactions.  In this case, the social engineering method used is very credible since the victim has navigated to the card issuer’s website – www.macys.com and www.nordstromcard.com – when Zeus injects a legitimate looking man-in-the-middle pop-up that requests personally identifiable information: (left)

Merchants and card issuers invest a great deal in backend technologies for detecting fraudulent transactions. These systems represent an important security layer, however the increase in malware and phishing attacks that specifically target card information is making them less effective. An additional layer that can prevent card information from being stolen in the first place is now required. As this latest Zeus configuration demonstrates, criminals are constantly evolving and refining their attack methods. While merchants and card issuers can’t adapt their security infrastructure as quickly as criminal groups can modify their attacks, they need to accept when current protection methods are not no longer sufficient and refresh their defense mechanisms accordingly.



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Blaze Mobile Invents New Revolutionary “Smart” Payment Sticker With Two Way Communication


Blaze Mobile, which in April of 2009, introduced the Blaze Mobile MasterCard PayPass, a mobile payment sticker that could be used at any of the 141,000 merchant locations that were currently equipped to accept PayPass contactless transactions, is now introducing a "smart sticker."

BERKELEY, Calif.--(BUSINESS WIRE)--Blaze Mobile, a leader in mobile payment solutions, has invented a new patent pending “smart” sticker that enables information to be transferred in real-time between the sticker and a mobile device without the use of a carrier network. With Blaze’s new sticker, when consumers make contactless purchases, the data is sent directly from the sticker to the mobile device, eliminating the need for a carrier network or WIFI. The sticker, which can be used on any mobile device, offers Blaze’s users real-time account information whether in a store, subway, transit station, airplane, or anyplace without cell phone reception. The data transfer works in both directions, so the mobile device can also transmit information to the smart sticker without using a carrier network or WIFI. This technology offers unprecedented capabilities to the consumer. For example, consumers can use the Blaze sticker to easily store and select from multiple payment options, like credit, gift and debit cards. Furthermore, Blaze’s sticker offers a myriad of business options beyond mobile payments including remote access to buildings, cars or health care data, and increased data security because of the ability to remotely deactivate lost or stolen stickers.
This new sticker improves upon the original patent pending sticker concept that Blaze Mobile pioneered in 2006. Blaze’s first mobile payment sticker was introduced as a solution to the lack of near field communication (NFC) cell phones in the marketplace. The payment sticker has proven popular, and other companies have embraced Blaze’s idea and created their own versions. Blaze’s original sticker sends transaction data in one direction from the sticker to the Point-Of-Sale (POS) terminal, and then traverses the payment network to the Blaze servers. Blaze servers then deliver this digital receipt to the mobile device Over-The-Air (OTA) using the carrier network. This entire process takes only a few seconds, and is acceptable to most customers in terms of performance. A potential problem arises in situations where the wireless network is not available to immediately transfer the data, and the new Blaze sticker eliminates that limitation.
“We are excited about the potential of this new smart sticker since it closely mimics the behavior of NFC embedded inside a cell phone. More importantly, it dramatically increases the number of potential NFC devices, and encourages consumer adoption of contactless payments. Manufactures of mobile hardware and software have announced plans to introduce more NFC devices in to the market, which we are excited about. Until NFC handsets become commonplace, our payment stickers are a free and easy solution for consumers and industry,” explains Michelle Fisher, CEO, Blaze Mobile.
The new Blaze Mobile smart stickers will be available during the first quarter of 2011. Consumers can visit www.blazemobile.com and request a new smart sticker for free.
About Blaze Mobile
Blaze Mobile develops innovative mobile commerce and advertising solutions that enable secure, convenient, cost-effective transactions and promotions from the mobile device. The Blaze Mobile Wallet enables fast and easy “contact-less” purchases – including movie and event tickets – as well as fund transfer, banking, and personal finance management. It can manage bank accounts at more than 8,000 supported financial institutions, view electronic receipts, and quickly and easily create expense reports. Blaze Mobile Wallet also offers valuable location based services such as maps and points of interest, including ATMs, restaurants and more – all in the palm of your hand. Then Blaze Mobile Advertising Network enables companies to target specific mobile advertisements and promotions to their most important customers, delivering unparalleled marketing and branding capabilities. Blaze Mobile applications are available through the Apple iPhone, T-Mobile, AT&T, NTelos. For more information, please visit www.blazemobile.com.

Contacts

Blaze Mobile
Eric Blackerby, 415-236-0009
eblackerby@blazemobile.com
Permalink: http://www.businesswire.com/news/home/20101214005244/en/Blaze-Mobile-Invents-Revolutionary-%E2%80%9CSmart%E2%80%9D-Payment-Sticker



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Monday, December 13, 2010

Nelnet Business Solutions Joins the Secure Vault Payments Network


Leading Campus Commerce Provider Adds New Option for Online Tuition Payments  

LINCOLN, Neb.--(BUSINESS WIRE)--Nelnet Business Solutions announced today they will join the Secure Vault Payments network and offer the online payment option to their more than 700 higher education clients. 
Secure Vault Payments is a safe and secure online payment network developed by NACHA — The Electronic Payments Association® and eWise, a provider of online payment & personal financial management solutions.
“Adding Secure Vault Payments to our suite of payment options allows us to offer even more solutions to colleges and universities with more flexible payment options to students and parents,” said Kevin Wiley, Chief Operating Officer of Nelnet Business Solutions. “Providing real-time authorization and confirmation of payment will be of great benefit to all clients we serve.”
Designed specifically for the unique security and convenience requirements of online payments and ecommerce, Secure Vault Payments enables students to make fast and secure tuition payments through their financial institutions’ online banking platforms without enrolling, registering or sharing any account information with the school. Financial institutions authenticate students and provide schools with real-time authorization and confirmation of ACH transactions.
“We are pleased to have Nelnet Business Solutions join the Secure Vault Payments network,” said Richard Brierley-Jones, Executive Vice President of eWise. “Nelnet is an important partner as Secure Vault Payments continues to become a premier payment option in the college and university space. Their clients across the country will be able to seamlessly activate Secure Vault Payments as a payment option, providing more choice, control and safety for students and parents.”
Companies interested in joining the SVP network should contact Dean Seifert, Senior Vice President, eWise at svp@ewise.com.
About Nelnet Business Solutions
Nelnet Business Solutions (NBS) is committed to delivering superior technology and innovative business tools that improve services and reduce costs for higher education. This goal is accomplished by providing a suite of campus commerce solutions including eBilling and ePayment, actively managed tuition payment plans, cashiering, campus-wide commerce management, refunds, and more. NBS works with approximately 700 educational institutions and two million students and families each year, helping them achieve their goals. For more information, visitwww.campuscommerce.com.
About eWise
eWise is partnering with NACHA to provide the Secure Vault Payments network, utilizing its Online Banking ePayments (OBeP) technology and account management services. eWise is a payments and online financial management solutions provider with a reputation for providing innovative solutions that make transacting online easier and more secure. eWise offices in US, UK, China and Australia support some of the world’s top 50 financial institutions with solutions delivering outstanding, proven ROI for its customers and a better online experience for millions of end-users worldwide. For more information, visit www.ewise.com.

Contacts

eWise
Patti Duncan, 303-256-6276
pduncan@ewise.com
or
Nelnet Business Solutions
David King, 866-315-1270
david.king@nelnet.net
Permalink: http://www.businesswire.com/news/home/20101213005277/en/Nelnet-Business-Solutions-Joins-Secure-Vault-Payments



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mopay Achieves Record Global Growth in 2010

Image representing mopay as depicted in CrunchBaseImage via CrunchBase
MUNICH & PALO ALTO, Calif.--(BUSINESS WIRE)--mopay, a global leader in innovative payment solutions for online merchants, today announced record global growth in 2010 following the launch of its official U.S. headquarters in Palo Alto, Calif. This past year, mopay added 150 new merchants globally, with the U.S. already accounting for 15 percent of all new merchant signups. Additionally, the company added 20 countries to its coverage list – resulting in a leading 80 countries covered – to maintain its global number-one position in terms of country coverage for mobile payments.
“For mopay, 2010 has been a year of explosive growth and success that resulted in significant momentum for the company both in the U.S. and abroad. Major social networks now use mopay to effectively monetize their users”
mopay made significant advancements in terms of technology in 2010, extending its existing mobile payment solutions portfolio to landline payments with the launch of mopay call, a new solution that enables social networking and gaming providers to offer even more payment options to their customers. The company also launched mopay 2go to address the exploding mobile apps market in Europe, the U.S. and APAC.
“For mopay, 2010 has been a year of explosive growth and success that resulted in significant momentum for the company both in the U.S. and abroad. Major social networks now use mopay to effectively monetize their users,” said Kolja Reiss, Managing Director of mopay. “The mobile payments industry is very competitive, especially as the popularity of the technology continues to grow around the world. mopay’s history of innovation and success helped us rapidly position ourselves as a force to be reckoned with in the U.S. and we look forward to continuing to grow our footprint and advocate for mobile payments in the year ahead.”
mopay is poised for even greater success in the coming year with a major focus on achieving significant double-digit growth again in 2011 – for the U.S. market an impressive growth of up to 500 percent is expected. Further, the company is planning to open several additional new offices internationally and will be launching major new solutions in the first and second quarters of 2011.
About mopay
mopay is a global leader in innovative payment solutions for online merchants. mopay’s core platform enables merchants of virtual, digital and physical goods to bill charges directly to consumers’ cell phone and land line accounts. mopay operates in more than 80 countries across the globe, reaching more than 3.3 billion consumers. The company has a blue-chip customer base including major brands such as Bigpoint, Gameforge, Innogames, Sulake and Travian. mopay, part of the MindMatics group, has more than 100 employees at locations in Germany, Austria, the United Kingdom and the United States. For more information, visit www.mopay.com.

Contacts

PAN Communications
Lisa Astor, 001 - 978-474-1900
mopay@pancomm.com
Permalink: http://www.businesswire.com/news/home/20101213005861/en/mopay-Achieves-Record-Global-Growth-2010



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Vystar Credit Union Selects ACCEL/Exchange from Fiserv as Its Exclusive PIN Debit Network

VyStar Credit UnionImage via Wikipedia

Brookfield, Wis., ePayment News Blog - Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that VyStar Credit Union has signed an agreement with its ACCEL/Exchange® debit payments network to be the credit union's exclusive PIN debit provider.


The $4.1 billion, Jacksonville, Fla.-based credit union has been an ACCEL/Exchange member for 20 years. Nearly three years ago, VyStar streamlined the number of its PIN debit providers down to two and found that by doing so it was able to increase its payments program revenues and profitability substantially. To further reduce costs, eliminate redundancies that included the management of multiple networks and simplify back-office processes, VyStar has now chosen the ACCEL/Exchange network as its single payments provider.

"With PIN debit as a key component of our overall payments strategy, ACCEL/Exchange from Fiserv provides us with exceptional transactional revenue opportunities and a diverse mix of innovative and secure debit payment solutions," said Richard G. Alfirevic, Executive Vice President and Chief Operating Officer of VyStar "Based upon our past experience with ACCEL/Exchange, we are extremely confident that the Network will provide us with all of the access, performance and value that we need, and high quality services our members have come to expect."

The network began processing and offering online PIN debit transactions in November 2009 as a result of a PIN debit pilot program initiated in March 2009 by Accel/Exchange and Acculynk, a US payment services provider. 

The unique governance structure of ACCEL/Exchange gives clients the opportunity to participate in the ACCEL/Exchange Network Advisory Council to set the strategic and tactical goals for the Network. This partner engagement philosophy contributed to VyStar's decision to make ACCEL/Exchange its exclusive network. By participating on the Council, which is comprised of financial institutions that represent a cross-section of ACCEL/Exchange Network membership, VyStar can have a real influence on the Network's pricing, rules and strategic direction, including product innovation.

"The financial industry is in the midst of unprecedented change, which also creates opportunity," said Michael Kelly, general manager ACCEL/Exchange, Fiserv. "Institutions like VyStar that focus on planning strategically now will be well positioned to win in the long term."
Michael Kelly discusses business strategies for financial institutions to consider in light of new regulations in a free video from theFiserv Boardroom Series, a unique thought leadership community, designed exclusively for Fiserv clients. Fiserv clients may sign up for a complimentary membership in the Boardroom Series at http://communities.fiserv.com. For more information about ACCEL/Exchange, please visit www.accelexchange.com.

About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Fiserv is ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry. For more information, visitwww.fiserv.com.

Media Relations:
Julie Nixon
Public Relations Manager
Fiserv, Inc.
678-375-3744
julie.nixon@fiserv.com



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Fed to Address Debit-Card Swipe Fees on December 16th


According to Bloomberg's BusinessWeek, the Federal Reserve Board will meet Dec. 16 to weigh a proposed cap of debit-card transaction fees that could cut card-issuer profits and benefit retailers.
The Fed is writing rules for debit-card transaction fees under a provision of Dodd-Frank, the financial-regulation overhaul enacted in July. The so-called Durbin amendment requires that interchange fees -- what a merchant pays to the bank that issues a customer’s debit card -- be “reasonable and proportional to the cost incurred by the issuer.”
The regulation, which doesn’t cover credit-card fees, may cut into profits for debit-card issuers like Bank of America Corp., and reduce costs for retailers such as Wal-Mart Stores Inc. andTarget Corp.
In September, Bank of America recorded a $10.4 billion goodwill charge -- a reduction in the intangible value of the business -- because of the interchange rule. The bank, based in Charlotte, North Carolina, has said the caps could reduce annual revenue by $2.3 billion.
Dodd-Frank requires the Fed, which writes regulations on electronic payments, to complete the rule by April 21. The vote will open a public comment period, after which the Fed board will meet to vote on the final rule.
‘Negative Consequences’
The law gives the Fed the authority to set interchange fees based on the level of fraud and other reasons. It also authorizes the Fed to consider unspecified facts that could give the central bank leeway in setting the fees, said Adam Frisch, a Morgan Stanley analyst who covers Visa and MasterCard.
“The question is not how much interchange fees will go up, the question is how far it will go down for debit,” Frisch said in a telephone interview.
U.S. Senator Thomas R. Carper, a Delaware Democrat who opposed the Durbin amendment in Congress, sent a letter to Fed Chairman Ben S. Bernanke today urging him to “use the discretion granted you to minimize negative consequences.”
Two lawmakers who voted for the provision, Senators David Vitter and Mike Crapo, both Republicans, signed Carper’s letter.
“Senator Carper will consider what, if any, additional steps are necessary after the Fed issues their rule on this matter,” Emily Spain, a spokeswoman for the lawmaker, said in an e-mail.
Susan Wheeler, a spokeswoman for Crapo, and Joel DiGrado, a spokesman for Vitter, didn’t return e-mails seeking comment.
$19.7 Billion
Visa Inc. and MasterCard Inc. set interchange, or “swipe” fees and pass that money along to banks that issue cards. Interchange is the largest part of the fees U.S. merchants pay to accept plastic from Visa and MasterCard. Debit fees totaled $19.7 billion and averaged 1.63 percent of each sale last year, according to the Nilson Report, an industry newsletter.
Retailers say interchange fees are out of proportion to the cost of providing the service. Banks say the legislation allows retailers to avoid a valid cost of doing business, without benefiting consumers.
The amendment was named for Senator Richard Durbin, an Illinois Democrat, who sponsored the provision. The Fed won’t consider debit-card network fees, which are excluded under the Dodd-Frank Act.



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Is the PIN Mightier than the Sword in Fighting Fraud?


Lydian Journal
12.13.10


Is the PIN Mightier Than the Sword in Fighting Fraud?
Nothing is more important to the future of electronic payments than maintaining consumer trust and, in particular, consumer confidence that sensitive financial information will remain secure. In our second issue of the Lydian Journal, Ellen Richey- Visa's Chief Enterprise Risk Officer, pens her thoughts on PIN fraud and security. Read More



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