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Monday, November 16, 2009
Aite Group Report: Merchant Acquiring in 2010
ICC-Cal Could Lose License to Clear International Payments
The storm over the fat retirement package given to Israel Discount Bank chairman Shlomo Zohar to convince him to resign nicely is still raging, and now subsidiary Israel Credit Cards-Cal Ltd., which issues Visa cards, is in big trouble. IDB announced yesterday that ICC-Cal is being fined 9 million euros. Visa Europe says it could withdraw the ICC-Cal's permit for international clearing and might even kick it out of Visa.
ICC-Cal subsidiary Cal International clear international online transactions in risky sectors such as Internet gambling and pornography as well as nutritional supplements and drugs.
Visa International guidelines restrict canceled international online transactions to 2% of the total. It was excessive cancellations for supplement purchases that netted ICC-Cal the fine and warning.
Analysts believe that ICC-Cal is readying for a share issue, at a company value of NIS 2.5 billion-NIS 3 billion. The fine and the threat of being booted out of Visa International certainly won't add to ICC-Cal's investing luster.
ICC-Cal began providing clearing services for the purchase of nutritional supplements from Web sites at the end of the first quarter of 2009, and immediately reaped high transaction volumes. By the end of the second quarter it had already made provision for NIS 1.5 million in its reports for this activity. A higher provision is expected in the next report, which will be issued within days.
By the end of July ICC-Visa and Visa Europe were discussing remedies. Last week Visa Europe issued its official report, according to which 90% of the irregularities concerning canceled transactions were for purchases of nutritional supplements.
The 9 million euro fine covers the period ending August 31. ICC-Cal could face an additional 3 million euro fine for the following period.
ICC-Cal officials noted yesterday that the company's contracts permits it to force businesses to bear responsibility for the sanctions, reducing its own exposure. In addition, they pointed out, ICC-Cal has received collateral from some of the businesses, further reducing its own exposure.
Visa Europe informed ICC-Cal that it expects it to take immediate action to reduce the number of canceled transactions and to implement a risk-reduction plan starting December 1 and continuing for the next three months. If the demands are not meant then the ICC-Cal could lose its permit for international payment clearing.
ICC-Cal officials announced that it had introduced such a program and was taking additional measures to meet the demands.
These measures include the November 12 decision by the board of directors to suspend CAL International CEO Steve Greenspan, who in any event told ICC-Cal CEO Boaz Chechik more than a month ago that he was leaving the company. No replacement has been named.
Company officials said that in light of the measures it's been taking, the company is unlikely to lose either its international clearing permit or its membership in Visa.
A significant proportion of ICC-Cal's growth and rise in profitability comes from its international clearing business in general, and in particular from transactions on Internet porn and gambling sites and the purchases of pharmaceuticals - including the erectile dysfunction remedy Viagra.
ICC-Cal is the only Israeli company that engages in international clearing in these sectors. The higher risk associated with them has two main sources: Customers are more likely to regret, and deny, such transactions on the one hand, while on the other hand the businesses that engage in them are less likely to be legitimate.
ICC-Cal's local credit card competitors, LeumiCard and Isracard have declared their unwillingness to venture into these sectors.
Consumers Entering Holiday Season More Joyful Than Gloomy with Plans to Give; Gift Cards Top the List
Philanthropy, Friends and Fido Stay on This Year’s List; Colleagues, Service Providers and Extended Family in Doubt
NEW YORK--PIN Payments News Blog--Even after a year of recession, for some consumers ‘tis the season for a rise in spending. A new survey from American Express (NYSE: AXP) reports that 10 percent of consumers actually intend to open their wallets and spend more on holiday gifts relative to last year and 43 percent plan to spend about the same. In the next 30 days, more than one in five U.S. consumers (22%) expect to spend more when compared to the last 30 day period.
The latest American Express Spending & Saving Tracker, the third in a monthly series, reports about consumers’ views on the economy, what they plan to spend on and what motivates them to spend or save. The research sample of 2011 adults included the general U.S. population1, as well as two subgroups – the affluent2 and young professionals3.
Attitude of Gratitude
Most consumers aren’t gloomy about the approaching holiday season. In fact, when given the choice of describing their attitude going into the holiday season as joyful or gloomy, 41 percent of the general population say they are “joyful”. Another 42 percent are even-keeled, saying they are "neither joyful nor gloomy" and only 13% have a "gloomy" attitude. More than two thirds of young professionals (69%) and more than half (53%) of the affluent report a joyful outlook.
“A personal need that I didn’t have before spending on the holidays” was the top reason given by consumers who expect to spend more on a particular item in the next 30 days (40% of the general population, 44% of young professionals and 40% of affluents). Notably, young professionals have a reason to gift-give: 28 percent say they’ve been saving and now have enough to spend and 28 percent are expecting an increase in income for themselves or from a spouse or partner.
“Even after more than a year of recession, the giving spirit shines brightly this holiday season,” said Pamela Codispoti, American Express senior vice president and general manager, Cardmember Services. “Consumers intend to spend on loved ones, with a plan to give more gift cards and electronics than other items and bringing a sharp eye for bargains. Even though Americans may pare down their gift lists a bit or not spend as much, a clear majority will do as much or more as last year when it comes to charitable giving.”
The Gift Card - Not Cash - Is King
The survey found that gift cards will be the gift of the season at 58 percent vs. all other gift selections.
- Nearly eight in ten (79%) consumers intend to utilize the Internet as a tool to help with holiday shopping: nearly half (45%) will use the Internet to purchase items, more than one in four (28%) will use it for hard-to-find items, 27 percent to research products, and a quarter will go online to simply look for gift ideas.
- Five in ten holiday buyers (50%) will most likely spend on clothing and accessories.
- Toys and games rank as the third most popular present this year with 41 percent.
- Only 27 percent of consumers plan to give cash as gifts (not including tips that may be given).
- Electronics are hot among young professionals with 37 percent expecting to give gifts such as iPods and MP3 players.
- Young professionals are more likely to give entertainment-related gifts such as movie or theatre tickets (38%) or experiential gifts (24%) vs. the general population (18% and 7% respectively).
In terms of the largest and most expensive single purchase holiday buyers will make, consumers expect to spend the most on technology gifts (with an average gift costing $450) followed by gift cards (with an average gift costing $270). The spending increases for affluents, with averages of $590 for technology and $350 for gift cards respectively.
Consumers like to pay it forward and on the whole plan to be more generous this holiday season. Sixty-three percent of consumers expect to do some type of charitable giving over the holidays, despite the fact that 54 percent of consumers say that as a result of the economy they will be cutting back on the number of gifts they purchase. Two-thirds (69%) plan to do more or the same when it comes to charity this holiday as they did last year. More than one in five young professionals (22%) say they plan to do more compared to last year.
- Donating money to an organization is the top way consumers like to give (36% of general population, 55% of the affluent and 40% of young professionals).
- Another popular choice for 31 percent of consumers is purchasing gifts or grocery items for a needy family, while others like to volunteer their time (18%).
- Only 25 percent of the general population plan to pare back on charitable giving this year compared to 46 percent of consumers who say they plan to spend less on gifts.
As a result of the economy, 22 percent of consumers say they will whittle down the number of people on their list. In general, if consumers have to make a choice to cut someone from their list in order to stay within their budget, coworkers are the first to go (17%), followed by service providers such as postal carriers, hair and nail stylists (14%) and then extended family and friends (13%).
- This is good news for teachers: only two percent would eliminate teachers from the gift list.
- Less than one percent would eliminate mom, dad or the kids. In fact, members of the immediate family, pets and close friends are the safest.
As consumers begin to buy, the American Express Spending & Saving Tracker found that price discounts are the top motivator for getting consumers into the checkout line. The survey also revealed that other incentives will entice consumers to dig into their pockets. Visions of free shipping, a free gift with purchase and bonus reward points dance in the heads of holiday shoppers as they think about making purchases.
- Seventy percent of consumers say discounts would be the top motivator to get them to shop within the next 30 days.
- On average, a 30 percent discount would do the trick. However, 47 percent of young professionals say they would be willing to begin spending with discounts as low as 10 percent.
- Almost half of holiday shoppers (45%) could be tempted to start their holiday shopping if they were offered free or faster shipping.
- Other key motivators were a free gift with purchase (35%) and bonus reward points (22%). Free gifts appeal to 52 percent of young professionals; bonus reward points are also apt to pique the interest of young professionals (45%) and affluents (33%).
About American Express
American Express Company (www.americanexpress.com) is a leading global payments, network and travel company founded in 1850.
1 The research was conducted online October 29 – November 2, 2009 among a random sample of 2,011 adults aged 18 and older.
2 Affluent - defined as having a minimum annual household income of $100,000.
3 Young Professional - defined as less than 30 years of age, having a college degree, and a minimum annual household income of $50,000.
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Fiserv Ranks First in North America, Fifth Overall, in Chartis' RiskTech100 Report on Global Risk Technology Providers
Fiserv Ranks First in North America, Fifth Overall, in Chartis' RiskTech100 Report on Global Risk Technology Providers
- Momentum in solutions for enterprise financial risk management help drive Fiserv higher in 2009 ranking -
Brookfield, Wis., November 16, 2009 - PIN Payments News Blog - Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced today that Chartis Research's RiskTech100, a comprehensive annual study of the top global technology firms active in risk management, has ranked Fiserv fifth overall and number one in North America among firms in the RiskTech100 geographic sectors category.
The company's move up to fifth on the chart this year, from seventh in 2008, is a reflection of the company?s ability to provide enterprise risk management solutions addressing market risk, credit risk, asset-liability risk, financial crimes, financial controls and compliance. The RiskTech100 assessment criteria are comprised of six equally weighted categories: functionality, core technology, organizational strength, customer satisfaction, market presence and innovation. Fiserv ranked well across all categories but was given particularly high marks for organizational strength which recognizes a company's leadership, history and business focus. Additionally, Fiserv ranked high in a new momentum sub-category that recognizes companies? risk technology successes, including new product releases, significant contract wins and financial performance.
"RiskTech100 is the most comprehensive and respected risk technology study, and Fiserv is honored to be ranked among the top five risk technology firms in the global market," said John Filby, president, Risk Management Solutions at Fiserv. "We are proud to have ranked highly on all criteria but are particularly pleased to have earned the highest marks for our organizational strength. This recognition is a testament to the expertise and professionalism of our team and the financial strength and stability of our company."
According to Chartis, the data collection for RiskTech100 study began in January 2009 and the analysis was validated through several phases of independent verification. Chartis' research methodology encompasses the considered opinions of the firm?s analysts as well as extensive research into market trends, participants, expenditure patterns and best practices. Specific research included 824 completed questionnaires from risk technology buyers and end-users; 357 completed questionnaires from risk technology vendors; 126 interviews and product briefings with risk technology vendors; 125 interviews with risk technology buyers to validate survey findings and 75 interviews with independent consultants and systems integrators specializing in risk technology.
With the company's core competency in risk and compliance, Fiserv solutions give financial institutions an enterprise view of risk across all lines of business and the tools necessary to minimize losses, optimize capital and protect reputation.
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. Ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry, Fiserv celebrates its 25th year in 2009. For more information, visit www.fiserv.com.
International Mobile Money Transfer Services to Exceed $65bn by 2014, According to Juniper Research
Juniper Research Forecasts That International Mobile Remittances Market Will Gain Traction as World Exits Recession
HAMPSHIRE, UK--(BUSINESS WIRE)--According to a new report from Juniper Research the international mobile money transfer market will be worth in excess of $65bn by 2014, based on gross transaction values – driven principally from migrant workers based in developed countries.
Juniper’s new report - ‘Mobile Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014’ - however also identified a number of inhibiting factors such as rising global unemployment and increased immigration controls by governments which will hold back the market until the recession is over.
Howard Wilcox, Senior Analyst, commented: “Our view is very clear - in the long term this market proposition is highly attractive. Mobile remittance offers a speedy, cost effective and convenient channel for people to send money regularly to friends and family at home, who themselves may not have bank accounts”.
The mobile money transfer report also revealed a new emerging sector for microcredits, saving accounts and insurance payments. Known as “sophisticated financial services” these services are entirely focused on developing countries where users do not have access to traditional banking or financial services or simply use alternative means of payment traditionally such as physically transporting cash, or storing cash savings at home. The report found that is new market for financial services on the mobile, can add to the attractiveness of mobile money services, and help to reduce mobile operator churn.
Further findings include:
- North America and Western Europe will be the main remittance sending regions in 2014
- Typically international transfers are conducted by a smaller base of users than national or domestic transfers, but transaction values are higher, payments are more regular and less frequent.
The Mobile Money whitepaper and further details of the study, ‘Mobile Money Transfer & Remittances: Markets, Forecasts & Strategies 2009-2014’ can be freely downloaded from the Juniper research website.
About Juniper Research
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.
Contacts
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Gemalto Unveils World’s First Bio-Sourced Degradable Smart Cards
Innovation breakthrough answers strong demand
from Gemalto customers around the world
Amsterdam, November 16, 2009 - Gemalto, the world leader in digital security, today launched the world’s first bio-sourced degradable smart cards. The card body is made from renewable material, is easily recyclable and compostable, and can be incinerated without emissions of toxic fumes. Additionally, Gemalto offers packaging made from recycled paper and vegetable inks that significantly reduce the product’s environmental impact. Gemalto’s bio-sourced smart cards will be ready for mass production in the first quarter of 2010.This innovation breakthrough answers a long-standing demand from banks and operators around the world. To meet this market need, Gemalto offers a bio-sourced smart banking card and a bio-sourced SIM card, each compliant to the industry standards in their respective sector. At Cartes & IDentification this year, Gemalto will be presenting both products on its stand.
The bio-sourced smart cards complement Gemalto’s portfolio of eco-friendly cards, made from paper-based materials for short-term use (e.g. scratch cards), as well as ABS* and PETG** based products, a chlorine-free alternative to PVC cards. The company opted for non-chlorine polymers in the late 1990’s and today, adopting material stemming from agro-products is a major step forward in promoting sustainable solutions for card vendors and end users alike.
“Gemalto has always believed an alternative solution was achievable,” commented Tan Teck Lee, Gemalto’s chief innovation and technology officer. “We are extremely proud to have developed the world’s first degradable smart cards the market has been seeking. These product launches lie within the scope of Gemalto’s corporate strategy to commit to sustainability, with products and manufacturing processes that have a reduced environmental impact.”
Note to editors
Gemalto seeks to minimize the environmental impact of its products all along their life cycle – from initial design and production through consumption to disposal. This implies paying close attention to their chemical content and end-of-life management and complying with applicable regulations, as well as anticipating new risks and growing concerns to protect the global environment. Notably, toxicity analyses are performed at key stages in the product development and production process. All Gemalto products have been available in RoHS*** format since July 2006.
The company also gives its customers the opportunity to subscribe to the carbon neutral production concept that was inspired by the Kyoto Protocol and which is based upon offsetting CO² emissions by helping to finance ecological actions throughout the world such as re-forestation or installing solar energy systems in developing countries.
Gemalto is engaged in programs to comply with national recovery, recycling and end-of-life regulations, and provides these services to its customers. To date, the company operates waste management schemes in France, Germany, Poland and the UK.
** Polyethylene Terephthalate Glycol
*** Reduction of Hazardous Substances
About Gemalto
Gemalto (Euronext NL 0000400653 GTO) is the world leader in digital security with 2008 annual revenues of €1.68 billion, and 10,000 employees operating out of 75 offices, research and service centers in 40 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 Card (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.
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Israel Police Bust Massive Internet Gambling Ring
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Nov 16, 2009 10:18 | Updated Nov 16, 2009 15:22 Police bust internet gambling ring
By YAAKOV LAPPINIsrael Police and the
Cars seized during the anti-gambling raids
Photo: Israel Police
The operation was handled jointly by the police's specialist Lahav 433 unit, Tax Authority investigators, state prosecutors, and the Israel Money Laundering Prohibition Authority.
Over 300 police officers and Tax Authority officials raided the homes of 37 suspects across the country. Dozens of gamblers were taken to police stations for questioning and tens of millions of shekels in assets seized.
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Gemalto Boosts Rollout of SIM-Based Mobile Contactless Services
AMSTERDAM--(BUSINESS WIRE)--Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, today announced that its Near Field Communication (NFC) SIM card product range successfully operates with Nokia’s contactless mobile phones. Gemalto is demonstrating interoperability of its SIM cards with NFC-enabled Nokia 6216 classic handsets at Cartes & IDentification this week. The company is also presenting its Trusted Services Management (TSM) offer for the secure deployment and management of NFC services. This breakthrough will contribute to boosting commercial rollout of SIM-based mobile contactless services worldwide. As part of the demonstration, Gemalto is presenting payment and transport services with the Nokia 6216 classic. The collaboration between Gemalto and Nokia illustrates joint alignment between the two companies to enable a successful NFC ecosystem building on the standardization work completed within ETSI and the NFC Forum.
Jeremy Belostock, Head of New Technology Solutions at Nokia, said:“Nokia and Gemalto have closely collaborated to enable the ecosystem to take the next step in the roll out NFC and ensure a positive experience for consumers.“ “The cooperation between the world’s largest mobile phone manufacturer and the world leader in digital security is a strong indication that contactless mobile services are on the brink of taking off,” added Rémi De Fouchier, Senior Vice President Trusted Services Management at Gemalto.
About Gemalto
Gemalto (Euronext NL 0000400653 GTO) is the world leader in digital security with 2008 annual revenues of €1.68 billion, and 10,000 employees operating out of 75 offices, research and service centers in 40 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 Card (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.
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INSIDE Showcases “A Contactless Universe” at CARTES 2009
New Products, New Partners, New Ideas Create a Diversity of Contactless Solutions
CARTES & IDentification 2009
AIX-EN-PROVENCE, France--(BUSINESS WIRE)--Highlighting the growing diversity of contactless applications, INSIDE Contactless, a leading provider of advanced, open-standard contactless chip technologies, will present “A Contactless Universe” at CARTES & IDentification Congress 2009, showcasing a variety of contactless solutions by INSIDE partners in the areas of payments, identity, NFC and more, as well as presentations by INSIDE executives. From multi-application and dual-interface payment and loyalty platforms to ICAO-compatible ID systems to Wave-Me™-enabled NFC applications to a new class of mobile payment solutions, INSIDE’s Contactless Universe demonstrates the depth and breadth of contactless technology and INSIDE’s continuing market leadership.
Visitors to CARTES & IDentification 2009 in Paris, Nov. 17-19, can view a broad range of applications powered by INSIDE Contactless at any time during the exhibition at the INSIDE booth 4 M 126, located in Hall 4 of the Paris-Nord Villepinte-France Exhibition Centre. Many of INSIDE’s partners will be showcasing their contactless solutions there, including Integrale Solutions, ISRA Cards, Fasver, TIL Technologies, Connecthings, Adelya, DeviceFidelity and SecureKey, and technical and product experts from INSIDE will also be available for discussions. Inside will also be highlighting its new dual-interface MicroPass 6000 payment processor. “Contactless technologies are approaching escape velocity with a expanding diversity of applications and novel approaches as we continue to develop new and innovative solutions in payments, identity, NFC and other areas,” said Charles Walton, executive vice president at INSIDE Contactless. “From our already strong position of leadership in the industry, INSIDE has launched exciting new products, developed strategies and built strong partnerships to enhance our contactless universe.”
Philippe Martineau, executive vice president of the NFC business line for INSIDE Contactless, will participate in a panel discussion, “NFC – Moving from Trials to commercial deployment – Challenges and Opportunities,” on Thursday, Nov. 19, from 09:40 to 10:45 as part of the C13: NFC & Contactless conference session. Then, Bertrand Moussel, executive vice president of sales for EMEA and Latin America, will make his presentation, “Secure Identity Documents: Leveraging the ICAO Standard to Tap New Markets,” on Thursday, Nov. 19, from 14:00 to 14:30 as part of the C12: Citizen ID conference session.
With more than 20,000 visitors and 1500 delegates from over 140 countries, CARTES & IDentification Congress 2009 is the number one professional event in the world for digital security, smart card and contactless technologies. This year’s Congress turns the spotlight on Russia, which has experienced significant economic growth and a remarkable development of bank credit cards and POS terminals, resulting in an increase in both the value and volume of transactions.
About INSIDE Contactless
INSIDE Contactless is the global leader in open-standard contactless payment and Near Field Communication (NFC) semiconductors and software that power the next generation of payment, transit, identity and access control applications. The company’s intelligent, microprocessor-based platforms offer the flexibility to be embedded in smart cards, mobile phones and other consumer electronic devices, documents, badges and other items to support a wide range of innovative contactless applications and bring new levels of convenience to users. INSIDE has delivered more than 300 million contactless platforms worldwide to customers and partners that include many of the leading payment card and mobile phone manufacturers, systems integrators and financial institutions. With a portfolio of 60 families of patents, including several essential NFC patents, the company has played a leading role in NFC and contactless innovation. INSIDE is headquartered in Aix-en-Provence, France, with offices in Shanghai, Singapore, Warsaw, Seoul and Silicon Valley. For more information, please visit www.insidecontactless.com.
Hypercom’s Wymix PIN Pad Achieves Visa payWave Certification
Contactless payments provide key benefits to retailers and consumers in high transaction volume environments where speed is of the essence, including hypermarkets, quick-service restaurants and gas stations. The processing time for contactless transactions is considerably shorter than for contact card transactions, and the added convenience and efficiency this provides is beneficial to both cardholders and merchants. Additionally, the speed provided by contactless technology is projected to help drive the increased use of loyalty and other value-add applications.
Interest in contactless cards and mobile payment programs is increasing in many European countries and various pilots are in progress throughout the region, organized by banks, mobile phone and public transport operators. In France, several major retailers have chosen to upgrade their systems using the Wymix PIN pad in preparation for the upcoming roll out of contactless cards and NFC mobile payment pilots.
“Many of the top retailers in Europe are committed to deploying the most innovative and cost effective electronic transaction solutions in their stores. The speed, security and convenience of contactless payments coupled with Hypercom’s Wynid® Server and Wymix PIN Pad offer the retailer the state of the art in card payment solutions and their customers faster check-out times and an improved payment experience,” said Kazem Aminaee, Managing Director, Southern EMEA, Hypercom Corporation.
Hypercom’s Wymix has already received several other international certifications including MasterCard PayPass®, PCI PED, and EMV Level 1 & 2. For information on Hypercom’s Wymix PIN Pad visit http://www.hypercom.com/products/wymix.asp.
About Hypercom (www.hypercom.com)
Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products and services. The Company's solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, petroleum, healthcare, prepaid, unattended and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits. Hypercom is a founding member of the Secure POS Vendor Alliance (SPVA) and is the second largest provider of electronic payment solutions and services in Western Europe and third largest provider globally.
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Visa Opens New Data Center in the U.S.
East Coast Processing Center Configured to Handle Future of Digital Commerce with Greater Capacity, Reliability and Security; Enhanced with New Operating System
SAN FRANCISCO--PIN Payments News Blog--Visa Inc. (NYSE: V), a global payments technology company, today announced the opening of a new global data processing center in North America. Concurrently, Visa implemented several IT enhancements, chief among them the implementation of a new operating system that underpins VisaNet, its global transaction processing network.
Together, these technology investments further enhance the flexibility, reliability and scale of VisaNet, and increase Visa’s ability to process the ever-growing number of increasingly complex electronic payments around the world, which now account for 33 percent of global consumer spending. 1
- Greater reliability, capacity - The opening of the new center is a key milestone in Visa’s multi-year technology upgrade, that results in Visa now having two synchronized, secure and reliable data centers in North America, each capable of carrying Visa’s entire global payments volume in the event of a natural disaster or systems outage. Instant fail-over technology between Visa data centers around the globe ensures the 5-nine level of uninterrupted service that cardholders, merchants, governments and financial institutions have come to expect from Visa.
- New operating system – Developed in partnership with IBM, the system, known as z™ Transaction Processing Facility (z/TPF), is a 64-bit operating system that allows more information to be manipulated at once and perform more complex processing functions in milliseconds. Importantly, this paves the way for Visa to deliver new, information-intensive applications such as advanced fraud analysis, and mobile payments and services.
- Enhanced security - This centralized processing structure, combined with the new operating system, provides Visa with a comprehensive view into the global payment system, leading to high levels of intelligence around spending patterns, enabling Visa to provide a broad range of information-based services, and improving the company’s ability to detect and prevent fraud in near real-time.
Data Center Expands Global Capacity, Flexibility
Located in the Eastern United States, Visa’s new data center is a 370,000 square foot, state-of-art facility architected to support multiple authorization engines and process hundreds of millions of transactions each day. With more than 140,000 square feet of raised floor space the center houses some of the payments industry’s most advanced payment processing services and is capable of handling more than 10,000 transaction messages per second.
Visa’s new processing center completes a global network of four data centers on three continents connecting more than 16,000 financial institutions, and millions of merchants and processing partners through more than 1,600 network endpoints around the world. For the four quarters ended June 30, 2009, Visa’s total volume was nearly $4.3 trillion dollars. With the growing worldwide migration away from cash and checks and towards electronic payments being fueled by new merchant acceptance locations, new products like mobile payments and prepaid, and new services like money transfer, and mobile alerts and notifications, the volume and complexity of Visa transactions are expected to grow.
New Operating System Boosts Visa’s Processing Power
Beyond its new data center, Visa has also recently implemented a new operating system to enhance the processing capabilities of its authorization platform, the Visa Integrated Payment platform (VIP). Visa selected the new IBM System z™ Transaction Processing Facility (z/TPF), one of the most advanced operating systems in the world for handling transaction-based computing tasks. The system is specifically designed for ultra high capacity and high-availability, and for systems designed for rapid expansion needed to handle high peak periods or spikes of transaction activity.
Visa partnered with IBM on the implementation of z/TPF and provided input on key operating system features to ensure seamless integration with Visa’s payment processing applications. Visa is the first large company to implement z/TPF.
"The ability to provide a business platform that delivers a predictable and dynamic environment for increased transaction volume is crucial to success in commerce today," said Mark Anzani, IBM VP and chief technology officer for System Z. "Visa has raised the standard for future transactions processing by tapping the reliability and security of the new Z10 mainframe and the power of the new z/TPF software to connect an ever-increasing number of merchants, banks and consumers. ”
Annual VisaNet Stress Test Sets New Record
The new data center began processing transactions immediately following Visa’s annual “stress testing” of its network. The testing is designed to simulate extremely heavy transaction loads, well beyond those expected at the height of the holiday shopping season, which is Visa’s busiest. 2
The stress test, conducted in an IBM facility configured to match an operational Visa data center, confirmed that as currently configured, VisaNet has more than sufficient capacity and processing power to support the busiest hour of the busiest day projected for the year, even if an entire data center was to go offline.
Annual Software Update
In October, as part of its semiannual software update, Visa completed the upgrade of its global payment platform, as well as introducing a number of advanced processing capabilities. For this latest update, Visa programmers, engineers and testers have invested more than 85,000 labor hours to create and incorporate upgrades to VisaNet. That includes the addition of several new currencies to the 175 for which Visa already processes transactions.
As with past updates, these significant system changes and improvements were made while VisaNet remained fully operational, ensuring that cardholders, merchants and financial institutions could continue to rely on Visa to process their transactions.
Visa’s software updates improve the network in crucial areas such as security while continually adding the technology to support the growth and complexity of electronic payments. These include the development of information-based services that help financial institutions provide more value to their cardholders and increase loyalty; provide ways for businesses to use Visa to maintain greater control and transparency over card spending; and help governments deliver benefits with more efficiency and accountability.
About Visa
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is the world’s most advanced processing network—VisaNet—that is capable of handling more than 10,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.
1 Source: Global Insight, Euromonitor International, SEC Filings, Nilson Report issue number 880 and 915, and analysis by Visa Insights
2 2008 VisaNet Peak Message Rate: 8,442 transaction messages per second sustained average over a one hour period
MasterCard Priceless Gift Finder for Online Shoppers
MasterCard Launches MasterCard® Priceless Gift Finder™ To Help Online Shoppers Find the Perfect Gift this Holiday Season
New MasterCard Initiative Designed to Drive E-commerce Through Convenient Online Tool
PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Worldwide today announced the launch of the MasterCard Priceless Gift Finder (www.priceless.com/giftfinder), a new online tool designed to drive e-commerce by helping online shoppers find the perfect gift this holiday season. Using the MasterCard Priceless Gift Finder, online shoppers can choose the price range they want to spend and the personality of their gift recipient. The Gift Finder then displays appropriate gift selections, along with ratings and reviews from Amazon.com. Purchases can be made at Amazon.com directly through the Gift Finder.
Using the MasterCard Priceless Gift Finder, online shoppers have access to:
- A budget calculator to track the cost of gift selections.
- A great choice of gift selections, user reviews and ratings provided by Amazon.com.
- The power of social networks by building shopping lists from their lists of Facebook friends (via Facebook Connect), as well as family and friends who are not on Facebook. They can also spread the news about the MasterCard Priceless Gift Finder by posting a URL link to the tool on various popular social networking sites.
The MasterCard Priceless Gift Finder is “hosted” by NFL Quarterback Peyton Manning and actress Alyson Hannigan, who offer hilarious “not so perfect” gift suggestions to visitors through a series of video vignettes, prior to the tool’s actual recommendations.
“The MasterCard Priceless Gift Finder represents a significant focus by MasterCard on driving e-commerce this holiday season,” said Cheryl Guerin, Senior Vice President, US and Digital Marketing, MasterCard Worldwide. “There are few better feelings during the holidays than to give someone a gift that you know they will enjoy,” she continued. “The utility of this tool makes it easy to select these perfect gifts, while tracking a budget and managing a holiday shopping list using social media applications that are already a part of many shoppers’ daily lives,” she said.
National MasterCard Moms Speak Out 2009 Holiday Survey
In conjunction with the launch of the MasterCard Priceless Gift Finder, MasterCard today released the results of the “National MasterCard Moms Speak Out 2009 Holiday Gifting Survey,” which reveals that while they are responsible for the majority of holiday shopping, many Moms struggle to find the perfect gift.
Key survey findings include:
- 78 percent of Moms indicate they are responsible for selecting, purchasing and wrapping all the gifts, and tracking the holiday budget.
- The biggest obstacle Moms say they face with holiday gift giving is staying within their budget (54 percent), and finding thoughtful and creative gifts (26 percent).
- However, even in the face of holiday shopping challenges, 92 percent of Moms feel there is an inner fulfillment when they do find what they consider to be the “perfect gift.”
The MasterCard Priceless Gift Finder is part of a multi-tiered integrated marketing campaign, which includes a new :30 Priceless® television spot as well as online media banners that break November 16. The television spot and website videos which feature Peyton Manning and Alyson Hannigan, were produced by McCann Erickson/New York. The MasterCard Priceless Gift Finder website was built by HUGE in partnership with MRM Worldwide. MRM Worldwide, in partnership with McCann Erickson, developed the online media banners that also feature Manning and Hannigan. Media is handled by GSD&M Idea City.
The humorous TV spot brings viewers to holiday parties with Manning and Hannigan, where both are giving out “not so perfect” gifts to the people in their lives. For example, at a holiday house party Manning gives teammates Jeff Saturday and Ryan Diem a gift and says “You’ll never guess what it is,” though it is obviously a wrapped football, while Hannigan, at a holiday party “on the set,” gives two bald crew members a shampoo gift basket. The spot wraps with the voiceover “Getting them something they’ll actually enjoy. Priceless. This year let Peyton and Alyson help you get the perfect gift at priceless.com.”
Creative for the MasterCard "Priceless" campaign is driven by McCann Erickson/New York.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
About the National “MasterCard Moms Speak Out 2009 Holiday Gifting Survey
The Survey was conducted online by MarketTools, Inc. among a nationally representative sample of moms with children under 18 years old. The study uncovered Mom’s attitude, behavior and challenges towards holiday gifting. The study has a sample size of 500 and the margin of error is +/- 4.38% at a 95% confidence level. The study was fielded October 29 to November 1, 2009.
MasterCard Launches its Authentication Program for Mobile Devices
MasterCard extends range of supporting form factors for its chip authentication program to include mobile phones
WATERLOO, Belgium--(BUSINESS WIRE)--MasterCard (NYSE:MA) has today launched an innovative solution to harness the mobile phone as a form factor for its Chip Authentication Program. The initiative focuses on enabling consumers to authenticate their banking and online transactions through their own mobile phone with solutions from three leading industry vendors.
MasterCard’s CAP program (Chip Authentication Program) focuses on solutions that allow cardholders to authenticate themselves using their existing EMV banking card and a personal card reader. The reader, normally issued by a bank, generates a single-use password that can be used for e-banking transactions, e-commerce, telephone authentication or a whole host of other uses where the customer is not face-to-face with the bank or merchant – transactions termed as ‘card not present’.
Today’s announcement focuses on the use of the mobile phone for the generation of a dynamic password. Additionally the solution allows part of the transaction to be included in the generation of a password – this means that banks can enable cardholders to create a unique signature for a transaction. Such developments represent considerable armor against “phishing” and ‘man in the middle’ attacks – a growing problem in e-banking and e-commerce.
Using the Mobile Phone to Authenticate and Protect
This new development leverages the ubiquitous nature of mobile phones. According to latest research from Forrester1, the number of individual mobile users in Europe will increase to 344 million users by the end of 2014, representing 84% of the Western European population. Coupled with growing online banking fraud activity (the UK Card Association reports that online banking fraud has jumped 132% in 2008 to stand at a record £52.5m.) the possibility to harness the mobile phone for authentication purposes is considerable.
Currently well over half of all bank cards in circulation in Europe are now driven by EMV, and with more than eight out of every terminal at point-of-sale similarly EMV enabled, there is a very real opportunity to build on this EMV experience uniting it with the technology and convenience of mobile devices.
Today’s announcement offers two types of solutions:
- The SMS-CAP solution works on any mobile phone. In this version, the CAP password is sent to the cardholder inside an SMS (short message service or ‘text’). The cardholder is then able to use this password to authenticate their online purchase or mobile banking activity.
- The second version runs on Smartphones or JAVA compatible phones. It consists of an application that runs on the mobile phone, and prompts the cardholder to key in a PIN. The phone then displays a CAP password. The consumer experience in this version is very similar to authentication using a card reader.
About MasterCard Europe and MasterCard Worldwide
For more information go to www.mastercard.com.
1 Source: Forrester Research European Mobile Forecast, 7/09 (Western Europe). There are some 334 million users currently in Western Europe.
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