Tuesday, August 23, 2011

NFC news in brief • 23 August 2011


NFC news in brief • 23 August 2011
NFC World

Jeppe Dorff, head of transaction services at parent company Rogers Communications is due to speak at NFC Payments USA in November on "The NFC Blueprint: Pinpoint how agreements can be structured between banks and MNOs to ensure NFC rolls out ...

Payments and Silicon Valley Clash Over the Mobile Wallet


Fighting for Position: The Mobile Wallet Wars

Boston, MA -- Despite words to the contrary, the mobile wallet will soon be a war zone, fought over by mobile operators, handset manufacturers, payment industry heavyweights, and Silicon Valley giants. Merchants will be challenged to choose sides and form alliances. Tactical pressures include the pace of NFC rollout, lessons learned from in-depth pilot testing, and how quickly merchants will adopt new contact and contactless EMV terminals.


Mercator Advisory Group's new report Fighting for Position: The Mobile Wallet Wars examines who is in on the fight and their approaches to market. The report also dives into to the evolution of the mobile wallet and the direction it needs to take for success with consumers, merchants, and providers.

Highlights of this report include:
Market dynamics that will create opportunity for entrants of all stripes as well as widespread confusion amongst consumers.Factors that will influence the overall success of mobile wallets, and an exploration of two mobile wallet models.The one element that will be critical to a mobile wallet's function and eventual success.Methods retailers can use to leverage mobile apps and take advantage of consumer willingness for engagement.
"As the interface where consumers meet payments, the mobile wallet will have strong influence over how consumers pay and interact with merchants. That's why so many competitors are battling for position on smartphones," states George Peabody, director of Mercator Advisory Group's Emerging Technologies Advisory Service. "This will be a protracted contest with mobile operators controlling one key technology, payments incumbents leveraging consumer trust, Silicon Valley giants going after payments and incentives, and merchants searching for a safe path through the field."

One of seven exhibits in this report:




This report is 29 pages long, with 7 exhibits and 3 tables.
Companies mentioned in this report include: Visa, MasterCard, Google, Apple, Isis, Zenius, Jumio, ROAM Data, Apriva, NuWallet, Payfone, Incomm, SparkBase, PayPal, AMEX, IBM, NCR, Retalix, MICROS, Radiant, Starbucks, Discover, Square, MobilePayUSA, Chase, Narrate, MoBeam, and Amazon.

Members of Mercator Advisory Group have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.
Please visit us online at www.mercatoradvisorygroup.com.
For more information and media inquiries, please call Mercator Advisory Group's main line: (781) 419-1700, send E-mail to info@mercatoradvisorygroup.com.

For free industry news, opinions, research, company information and more visit us atwww.PaymentsJournal.com.

Follow us on Twitter @ http://twitter.com/MercatorAdvisor.

About Mercator Advisory GroupMercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.

Smart Card Alliance Latin America (SCALA) Releases EMV Roadmap White Paper for Latin America and the Caribbean


SOURCE: The Smart Card Alliance
August 22, 2011 11:04 ET
PRINCETON JUNCTION, NJ--(Marketwire - Aug 22, 2011) - The Smart Card Alliance Latin America (SCALA) chapter released today a white paper providing roadmap options for Latin American and Caribbean countries migrating to EMV. The white paper is an impartial tool for all payments stakeholders, including issuers, acquirers, merchants, processors, and suppliers of hardware, software, and support services, to educate themselves on the actions they need to consider to issue, accept and process EMV transactions.
The white paper, "Card Payments Roadmap in Latin America: How Does EMV Impact the Payments Infrastructure?" is available for free download here:http://latinamerica.smartcardalliance.org/pages/publications-card-payments-roadmap-in-latin-america-how-does-emv-impact-the-payments-infrastructure. Topics include:
  • The impact of the global and regional deployments of EMV on possible roadmap options for Latin America and the Caribbean.
  • A primer on EMV security specifications for card authentication methods, cardholder verification methods and transaction authorization approaches and implementation options for each.
  • The relationship between EMV, contactless payments and Near Field Communication (NFC).
  • An overview of changes required in the issuing, acquiring/processing, merchant and ATM payments infrastructure to support the different EMV roadmap options.
"While fraud prevention and liability shift mandates provide the incentives for moving to EMV, there has been a lack of impartial resources and information about the steps required and the options for the migration," said Edgar Betts, associate director of the Smart Card Alliance Latin America (SCALA) Chapter. "This white paper fills that need by providing stakeholders across the payments value chain with objective information about the critical aspects of deploying an EMV solution in their business environments."
The creation of the white paper is part of SCALA's overall efforts to provide educational material on the considerations for migrating to EMV. Over the past decade, the benefits of migration have increased, while the costs and implementation difficulties have decreased. Many of the terminal providers and some acquirers/processors have already put in place the EMV features and infrastructure to support customers in over 18 countries in Latin America and in the Caribbean.
While EMV implementation in Latin America and the Caribbean has been driven by many factors, one of the biggest incentives is the payment brands' liability shift mandates. Under the mandates, the party that has upgraded cards or terminals to EMV technology is protected if fraud occurs.
Participants involved in the development and review of the paper included: Gemalto, GET Group, MasterCard Worldwide, Morpho, and Visa Inc.
Kim Hangoc, vice president of emerging payments - chip solutions for MasterCard Latin America and the Caribbean, said, "The EMV chip migration is one of MasterCard's priorities in Latin America and the Caribbean. Throughout the years we have been working in deploying EMV solutions in Latin America as we understand the benefits this technology brings to all the players in the value chain. EMV not only helps reduce card fraud, but is also an innovation gateway for the markets. We are very pleased to have contributed to the creation of this white paper, a tool that will definitely help the different stakeholders better prepare for their EMV migration."
Fernando Mendez, head of emerging products for Visa Inc., Latin America and the Caribbean, said, "The migration to EMV cards is a priority for Visa in Latin America, not only for the increased security they provide, but also for the opportunities of enhancing the consumer experience through multi-applications. Visa sees this industry effort driven by SCALA as a crucial step for further advancement of this technology in the region and it is proud to be part of it."
SCALA Financial Payment Council member organizations include: G&D Burti, Oberthur Technologies, Assenda, Banred S.A., Banco do Estado do Rio Grande do Sul - Banrisul, First Data CAC, Redeban Multicolor S.A., and Telered S.A. For more information on SCALA, visithttp://latinamerica.smartcardalliance.org/.
About the Smart Card Alliance Latin America (SCALA)The primary mission of the Smart Card Alliance Latin American chapter is in line with the overall goals of the Alliance: to stimulate the understanding, adoption, use and widespread application of smart cards technology in Latin America and the Caribbean. SCALA works through specific projects such as trilingual education programs, market research, advocacy, industry relations and open forums to keep Latin American chapter organization members connected to industry leaders and innovative thought.
About the Smart Card AllianceThe Smart Card Alliance is a not-for-profit, multi-industry association working to stimulate the understanding, adoption, use and widespread application of smart card technology.
Through specific projects such as education programs, market research, advocacy, industry relations and open forums, the Alliance keeps its members connected to industry leaders and innovative thought. The Alliance is the single industry voice for smart cards, leading industry discussion on the impact and value of smart cards in the U.S., Latin America, and the Caribbean. For more information please visit http://www.smartcardalliance.org.

Trusteer Discovers New Worm-Based Financial Malware


Well Known Ramnit Worm Incorporates Tactics from Zeus Trojan to Commit Online Banking Fraud
BOSTON--(BUSINESS WIRE)--Trusteer, the leading provider of secure web access services, today warned that it has discovered the 18 month old file infecting worm Win32. Ramnit has morphed into financial malware and is actively attacking banks to commit online fraud. Ramnit configurations captured and reverse engineered by Trusteer were found to incorporate tactics from the Zeus financial malware platform. Ramnit has borrowed from Zeus the ability to inject HTML code into a web browser, which it is using to bypass two-factor authentication and transaction signing systems used by financial institutions to protect online banking sessions.
“Unlike the past, when financial institutions had to defend against a limited number of malware platforms, attacks can now come from virtually any malicious software program -- old or new. The malware distribution channel for fraudsters has increased in scale significantly.”
The financial malware version of Ramnit was discovered by Trusteer’s fraud analysts using the Trusteer Pinpoint zero-day anomaly detection system and Trusteer Flashlight remote incident investigation system. Ramnit’s command and control servers are located in Germany and are currently live. According to the Symantec Intelligence Report for July, Ramnit accounts for 17.3 percent of all new malicious software infections. This number is consistent with Trusteer's findings that tens of thousands of machines used for online banking are currently infected with Ramnit.
Ramnit was first detected in 2010 and targets .EXE, .SCR, .DLL. .HTML and other file types. File infection is an old school virus technique that is rarely seen in modern financial malware. The evolution of Ramnit into a fraud tool was made possible when the source code of the notorious Zeus financial malware platform was made freely available on the Internet earlier this year. Since then, fraudsters and malware authors have borrowed parts of the Zeus toolkit and incorporated into other malware. Trusteer researchers found the method used to configure Ramnit to target a specific bank is identical to the one used by Zeus. This allows fraudsters who have written configurations for Zeus to easily port their configuration to Ramnit.
“The metamorphosis of Ramnit into financial malware is a sign of things to come now that the Zeus source code has been made openly available to anyone on the Internet,” said Amit Klein, CTO of Trusteer. “Unlike the past, when financial institutions had to defend against a limited number of malware platforms, attacks can now come from virtually any malicious software program -- old or new. The malware distribution channel for fraudsters has increased in scale significantly.”
Trusteer Pinpoint is capable of detecting and blocking Ramnit-related and zero-day fraud within a bank’s web application, while Trusteer Rapport is capable of detecting, blocking, and preventing Ramnit infections on customer computers. More information on Ramnit, its configurations, and the code it uses against various banks is available to Trusteer customers in the Trusteer Situation Room. Additional public information on Ramnit is available in this Trusteer blog post https://www.trusteer.com/blog/ramnit-evolution-%E2%80%93-worm-financial-malware.
About Trusteer
Trusteer is the world’s leading provider of Secure Web Access services. The company offers a range of services that detect, block and remove attacks launched directly against endpoints such as Man in the Browser, Man in the Middle and Phishing. Trusteer services are being used by leading financial organizations and enterprises in North America and Europe, and by tens of millions of their employees and customers to secure web access from mobile devices, tablets and computers to sensitive applications such as webmail, online payment, and online banking. HSBC, Santander, The Royal Bank of Scotland, SunTrust, Fifth Third, ING DIRECT, and BMO Financial Group are just a few of the companies using Trusteer’s technology. Trusteer is a privately held corporation led by former executives from RSA Security, Imperva, and Juniper. Follow us on www.Twitter.com/Trusteer. For more information about our services, please visit www.trusteer.com.

Contacts

Trusteer
North America
Marc Gendron PR
Marc Gendron, 781-237-0341
marc@mgpr.net
or
Trusteer
United Kingdom
Eskenzi PR Ltd.
Neil Stinchcombe, +44 20 71 832 833
neil@eskenzipr.com

Recent Stories from Trusteer

NFC BlackBerry Curve 9350 Debuts Sept. 9 for Just $79.99 from Sprint



Stunning new BlackBerry Curve 9350 is fast, affordable, easy-to-use, full-featured and socially connected
OVERLAND PARK, Kan.--(BUSINESS WIRE)--The next generation of Research In Motion’s (RIM) (NASDAQ: RIMM; TSX: RIM) popular BlackBerry® Curve™ series of smartphones, the stunning new BlackBerry Curve 9350, comes to Sprint (NYSE: S) on Friday, Sept. 9, offering the latest BlackBerry operating system – BlackBerry® 7. The new BlackBerry Curve 9350 is a fast, affordable, easy-to-use, full-featured and socially connected smartphone that is as beautiful as it is functional.
“It is exciting to see the BlackBerry Curve line continue to evolve, building upon past success”
The slim and stylish smartphone will cost just $79.99 (excluding taxes) with a new line or eligible upgrade and two-year service agreement, after a $50 mail-in rebate via reward cardand be available in all Sprint sales channels, including Sprint Stores, Business Sales, Telesales (1-800-SPRINT1) and web sales (www.sprint.com). Sprint Business customers may qualify to get BlackBerry Curve 9350 for $49.99 (excluding taxes) on a business account with a new line or eligible upgrade and new one- or two-year service agreement, after a $50 mail-in rebate via reward card1.
“It is exciting to see the BlackBerry Curve line continue to evolve, building upon past success,” said David Owens, vice president – Product Development, Sprint. “This latest iteration offers the recognizable form factor our customers have come to enjoy, while adding powerful new features and innovative apps of BlackBerry 7 to deliver the smoothest and fastest BlackBerry Curve experience to date.”
The BlackBerry Curve 9350 smartphone offers a full QWERTY keyboard and trackpad for easy one-handed navigation and keeps users connected by allowing them to easily share moments through pictures and videos via MMS, as well as by instant message with world-class IM services like BBM™ (BlackBerry® Messenger). With easy access to social networking sites like Flickr®, MySpace and Facebook®, this smartphone provides smooth integration to keep users up to speed on what’s happening in their personal and professional lives.
Key features include:
  • BlackBerry App World™, the official app store front for BlackBerry smartphones offering customization, fun and productivity
  • Near Field Communications (NFC) support for a secure exchange of information between NFC-enabled devices over a very short distance
  • 5MP camera with HD video capture, flash and zoom
  • 512MB RAM
  • 2GB microSD card included, with support for up to 32GB microSD card
  • BlackBerry PlayBook support with BlackBerry Bridge™ (BlackBerry Bridge is available as a free download on BlackBerry App World)
  • DataViz Docs To Go® Premium suite preloaded, for editing Microsoft Word, Excel and PowerPoint files from anywhere
  • Wi-Fi® (802.11 b/g/n)
  • Bluetooth® 2.1+EDR support
Smoother and Faster with BlackBerry 7
With BlackBerry 7, the BlackBerry Browser is significantly enhanced to provide a faster and more fluid user experience and includes optimized HTML5 performance for incredible gaming and video experiences.
Building upon the Universal Search feature introduced in BlackBerry 6, BlackBerry 7 expands the capability to include voice-activated search. This new capability makes it easier and more convenient to search for content on the smartphone or web.
BlackBerry 7 also integrates BlackBerry® Balance™, which separates personal content from corporate content, giving users the freedom and flexibility to use the smartphone for personal email, Facebook®, Twitter®, multimedia, games and other apps, while satisfying the very real need for corporate data to be highly secure and manageable. BlackBerry Balance works in conjunction with BlackBerry® Enterprise Server 5.0.3, which provides a number of unique IT policy controls, such as wiping only corporate data or blocking work-related content and apps from being copied or forwarded to personal contacts.
BlackBerry Curve 9350 requires activation on one of Sprint’s Everything Data plans plus a required $10 Premium Data add-on charge for smartphones. Sprint’s Everything Data plan with Any Mobile, AnytimeSM includes unlimited web, texting and calling to and from any mobile in America while on the Sprint Network, starting at just $69.99 per month plus required $10 Premium Data add-on charge – a savings of $40 per month versus Verizon’s comparable plan with unlimited talk, text and 2GB web or $10 per month versus Verizon’s 450-minute plan with unlimited text and 2GB web. (Pricing excludes taxes and surcharges.)
Sprint was unbeaten among major wireless carriers for customer satisfaction according to results from the 2011 American Customer Satisfaction Index. In addition to tying for first place among wireless carriers, Sprint was also the number one most improved company in customer satisfaction, across all industries, during the last three years, according to the survey.
About Sprint Nextel
Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel served more than 52 million customers at the end of 2Q 2011 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Newsweek ranked Sprint No. 6 in its 2010 Green Rankings, listing it as one of the nation’s greenest companies, the highest of any telecommunications company. You can learn more and visit Sprint at www.sprint.com orwww.facebook.com/sprint and www.twitter.com/sprint.
1The American Express Prepaid Reward Card (“Card”) provided in connection with this Rebate offer is a prepaid Card that is usable only at U.S. merchants that accept American Express Cards. Some limitations apply. Offer valid only in the U.S. and Puerto Rico. The Card is not redeemable for cash (except where required by law) and does not provide ATM access. Use of Card constitutes acknowledgement that it is given as a reward and no consideration, value, or money has been paid by the holder to American Express in exchange for this Card. USE OF CARD IS SUBJECT TO THE CARDHOLDER AGREEMENT. SUBJECT TO APPLICABLE LAW, A $3.00 MONTHLY FEE WILL BE ASSESSED AGAINST CARD BALANCE, STARTING SIX MONTHS AFTER CARD ISSUANCE. Card expires six years after the date of issuance if not depleted before. For BALANCE, customer service and Cardholder Agreement, visit americanexpress.com/sprint or call 1-866-608-3756. Card issued by AEPCMC under license from American Express Prepaid Card Management Corporation, Travel Related Services Company, Inc.
The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited.

Contacts

Sprint
Mark Elliott, 603-621-4511
mark.j.elliott@sprint.com

Recent Stories from Sprint and Research In Motion

Real-Time Alerts Now Available for U.S. Bank ATM and Check Card Customers


MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bank, lead bank of U.S. Bancorp (NYSE: USB), is making available real-time ATM card and check card alerts to its consumer and business cardholders’ mobile devices and computers, notifying them of important account activity.
“U.S. Bank is pleased to provide cardholders with real-time alerts that help them conveniently monitor their accounts to make wise purchase decisions as well as provide them with suspicious activity alerts that warn of possible fraudulent activities”
The real-time alerts, which range from suspicious activity being detected to cash being withdrawn from an ATM, are sent via SMS text message, email or both. Cardholders can select the alerts that will make it easier for them to stay informed and be in better control of their finances. There is no charge from U.S. Bank, but message and data rates from the customer’s wireless provider may apply.
“U.S. Bank is pleased to provide cardholders with real-time alerts that help them conveniently monitor their accounts to make wise purchase decisions as well as provide them with suspicious activity alerts that warn of possible fraudulent activities,” said Clifford Cook, chief marketing officer at U.S. Bank Retail Payment Solutions. “U.S. Bank ATM card and check card real-time alerts, together with our existing credit card real-time alerts, are great examples of how we continue to provide customers with exceptional payment services and value.”
The new real-time alerts notify cardholders when suspicious or irregular activity has been detected or a transaction meets or exceeds the amount specified. Cardholders may also receive real-time alerts for international transactions, gasoline purchases, ATM withdrawals, declined transactions or for online, mail-order or telephone transactions where the card is not present.
Enrollment is easy. On the U.S. Bank Internet Banking website, cardholders can specify the account and alert or alerts they want to receive, choose email, text or both as the delivery method and then start receiving alerts.
U.S. Bank Retail Payment Solutions (RPS) is one of the nation's leading payment processing and full-service issuing providers. RPS offers credit, debit, and prepaid payment solutions to consumers and small businesses through U.S. Bank and in partnership with financial institutions, businesses, governments and employers.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $321 billion in assets as of June 30, 2011, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,086 banking offices in 25 states and 5,086 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.

Contacts

U.S. Bank Media Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com

Recent Stories from U.S. Bank

The Best & Worst Places for Overdrawing Your Checking Account


Moebs Study Gives Surprising Result
View Press ReleaseLAKE BLUFF, Ill.--(BUSINESS WIRE)--Half of consumers, who overdraw their checking account, do so by $40 or less. 34 million consumers, or about 26 percent of consumer checking accounts, do this 10 or more times a year.
“Consumers, especially those who overdraw their checking account 10 or more times a year, will pay significantly less in fees if they bank with a community bank or credit union that offers overdraft services”
If you are going to overdraw your checking account, either intentionally, or like most, unintentionally, where’s the worst place to do this? Answer: bouncing a check from a checking account at a bank or credit union that doesn’t offer an overdraft service. Why? Your bank will return the check non-sufficient funds (NSF), and charge you $28, and the merchant you gave the check to will charge you $30, bringing the grand total to $58.
After a study that included 1,240 banks, 1,292 credit unions, and 832 national retail merchants like Wal-Mart, Home Depot, Walgreens, Safeway and others, economic research firm Moebs $ervices found 20.5 percent of banks and credit unions no longer provide overdraft service, or will always bounce your check if funds are not available. Merchants seem to have picked up on this. The study also showed that 40 percent of national retail merchants will not accept checks for purchase of goods or services, thus requiring cash, debit card, or credit card.
Financial Institutions That Won’t Bounce Your Check
At Wall Street Banks, those with $50 Billion or more in assets, you can get overdraft service but it will cost you $34 per check. Community banks and credit unions charge $25. “Consumers, especially those who overdraw their checking account 10 or more times a year, will pay significantly less in fees if they bank with a community bank or credit union that offers overdraft services,” points out Michael Moebs, Economist and CEO of Moebs $ervices. “Chase, Bank of America, Wells Fargo, US Bank and the other huge banks are not the place to have your checking account if you think you may overdraw your checking account, especially 10 or more times in a year,” says Moebs.
The Frugal Way to Overdraw
The Moebs Study concluded that for consumers who end up with a negative balance of less than $100, the most cost efficient provider of overdraft funds is an internet or brick & mortar payday lender. Payday lenders have a median charge of $17.50 for a small loan of $100 or less, which is sufficient to cover most consumers’ negative balance checking accounts.
Different prices at different places
According to the Moebs Study these cities have ODs at or great than $30: Atlanta, Cincinnati, Dallas, Las Vegas, Miami, Minneapolis, New York, Philadelphia, Phoenix, Pittsburgh, Tampa, and Washington D.C. Yet these urban areas offer overdrafts at $25 or less: Boston, Kansas City, St. Louis, Sacramento, San Antonio, San Diego, and San Francisco. According to Mr. Moebs, “the best place to have an overdraft is San Francisco were the median price is $22.50 while the worst place is Miami were the median is $30.95. Obviously the institutions in the Bay Area of San Francisco recognize the consumer need for a safety net while in Miami an overdraft is still a penalty.”
About Moebs $ervices
Since 1983, Moebs Services has been collecting primary empirical data about financial institutions’ services, pricing, operating expenses and financial condition and analyzing the data in a counter intuitive manner, which provides solutions that make sense. For more info please visit www.moebs.com

Contacts

Harden Communications Partners
John Lopez, 415-517-9760
JLopez@hardenpartners.com

Recent Stories from Moebs Services

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