Monday, May 24, 2010

Guardian Analytics Secures $9 Million in Venture Funding from Sutter Hill and Foundation Capita

Image representing Guardian Analytics as depic...Image via CrunchBase


Series C Round to Drive Customer Acquisition and Product Advancement

LOS ALTOS, Calif., May 24 /PRNewswire/ -- Guardian Analytics, the innovator in predictive analytics-based fraud prevention software, today announced that it has raised $9 million in funding, led by Sutter Hill Ventures with participation by existing investor Foundation Capital. The Series C funding will be used to accelerate product innovation and capitalize on the growing demand for fraud prevention solutions that can protect financial institutions and their customers from today's sophisticated cybercrime.
2009 saw record highs in online banking cyber attacks and fraud losses as criminals directly assaulted existing online security solutions, sparking both high-profile lawsuits and debates in Washington over business protection and security regulations. To stem the tide of losses, industry experts are recommending that financial institutions take a new approach to fraud prevention and monitor customer behavior to proactively prevent fraud. Guardian Analytics' flagship software, FraudMAP™ is the industry's first fraud prevention solution designed from the ground up using predictive behavioral analytics.
"Banks and credit unions are at war with cybercriminals and need solutions that can protect them against ever-evolving threats," said Greg Sands, managing director, Sutter Hill Ventures. "Guardian Analytics is solving this escalating industry problem with a clearly differentiated and proven approach. Their growing customer base is ecstatic with the results and we see 2010 as a breakthrough year for the company."
Recognized as a Visionary in the Gartner Magic Quadrant for Web Fraud Detection for two years in a row, Guardian Analytics is gaining substantial recognition for its innovative predictive analytics technology and deep expertise in online account takeover and payments fraud. The Company achieved record results in 2009, increasing new customer sales by 300 percent year-over-year and driving a 100 percent customer renewal rate. Earlier this year, the company announced FraudMAP for Business Banking, the industry's first solution designed specifically to detect suspicious behavior in the complex, multi-user business-banking environment where fraudsters have recently stolen hundreds of millions of dollars using Man-in-the-Browser attacks and networks of money mules.
"We believe the best way for financial institutions to win the war on cybercrime is by using the one strategic advantage they have – deep knowledge about their customers' behaviors. Using that notion as the foundation of our solution development has driven our success from day one and is the core of our vision for the market," said Terry Austin, CEO, Guardian Analytics. "This infusion of capital will allow us to take our market presence to the next level and will fuel our overall awareness, customer acquisition and product innovation efforts."
In conjunction with the funding, Greg Sands of Sutter Hill Ventures is joining the board of directors at Guardian Analytics.
About Sutter Hill Ventures
Sutter Hill Ventures is a venture capital firm that finances technology-based start-up and early-stage companies that pioneer products or services in growth markets, especially those in information technology and health care. Founded in 1964, it is one of Silicon Valley's original venture capital firms. Some of the companies backed by Sutter Hill include: Network Appliance, Legato, Quantum, StorageTek, Quinstreet, Data Domain, Alteon, Linear Technology, nVidia, and BroadVision. For more information about Sutter Hill Ventures, please visit www.shv.com.
About Foundation Capital
Founded in 1995, Foundation Capital is a venture capital firm committed to supporting entrepreneurs and their companies, targeting innovative opportunities in cleantech, consumer Internet and infrastructure; telecommunications and networking; and enterprise software and on demand services. Foundation Capital funds total more than $2.4 billion. For more information, visitwww.foundationcapital.com.
About Guardian Analytics
Headquartered in Los Altos, Calif., Guardian Analytics is focused on the prevention of online account fraud. The company's real-time risk management approach to fraud detection, forensics and risk monitoring is built on strong analytics and predictive models of individual behavior. Leading financial services institutions rely on Guardian Analytics to protect individual account assets and the integrity of their online channels. Founded in 2005, Guardian Analytics is privately held with venture funding from Foundation Capital and Sutter Hill Ventures. For more information, please visit www.guardiananalytics.com.
SOURCE Guardian Analytics


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Guardian Analytics Secures $9 Million in Venture Funding from Sutter Hill and Foundation Capita

Image representing Guardian Analytics as depic...Image via CrunchBase


Series C Round to Drive Customer Acquisition and Product Advancement

LOS ALTOS, Calif., May 24 /PRNewswire/ -- Guardian Analytics, the innovator in predictive analytics-based fraud prevention software, today announced that it has raised $9 million in funding, led by Sutter Hill Ventures with participation by existing investor Foundation Capital. The Series C funding will be used to accelerate product innovation and capitalize on the growing demand for fraud prevention solutions that can protect financial institutions and their customers from today's sophisticated cybercrime.
2009 saw record highs in online banking cyber attacks and fraud losses as criminals directly assaulted existing online security solutions, sparking both high-profile lawsuits and debates in Washington over business protection and security regulations. To stem the tide of losses, industry experts are recommending that financial institutions take a new approach to fraud prevention and monitor customer behavior to proactively prevent fraud. Guardian Analytics' flagship software, FraudMAP™ is the industry's first fraud prevention solution designed from the ground up using predictive behavioral analytics.
"Banks and credit unions are at war with cybercriminals and need solutions that can protect them against ever-evolving threats," said Greg Sands, managing director, Sutter Hill Ventures. "Guardian Analytics is solving this escalating industry problem with a clearly differentiated and proven approach. Their growing customer base is ecstatic with the results and we see 2010 as a breakthrough year for the company."
Recognized as a Visionary in the Gartner Magic Quadrant for Web Fraud Detection for two years in a row, Guardian Analytics is gaining substantial recognition for its innovative predictive analytics technology and deep expertise in online account takeover and payments fraud. The Company achieved record results in 2009, increasing new customer sales by 300 percent year-over-year and driving a 100 percent customer renewal rate. Earlier this year, the company announced FraudMAP for Business Banking, the industry's first solution designed specifically to detect suspicious behavior in the complex, multi-user business-banking environment where fraudsters have recently stolen hundreds of millions of dollars using Man-in-the-Browser attacks and networks of money mules.
"We believe the best way for financial institutions to win the war on cybercrime is by using the one strategic advantage they have – deep knowledge about their customers' behaviors. Using that notion as the foundation of our solution development has driven our success from day one and is the core of our vision for the market," said Terry Austin, CEO, Guardian Analytics. "This infusion of capital will allow us to take our market presence to the next level and will fuel our overall awareness, customer acquisition and product innovation efforts."
In conjunction with the funding, Greg Sands of Sutter Hill Ventures is joining the board of directors at Guardian Analytics.
About Sutter Hill Ventures
Sutter Hill Ventures is a venture capital firm that finances technology-based start-up and early-stage companies that pioneer products or services in growth markets, especially those in information technology and health care. Founded in 1964, it is one of Silicon Valley's original venture capital firms. Some of the companies backed by Sutter Hill include: Network Appliance, Legato, Quantum, StorageTek, Quinstreet, Data Domain, Alteon, Linear Technology, nVidia, and BroadVision. For more information about Sutter Hill Ventures, please visit www.shv.com.
About Foundation Capital
Founded in 1995, Foundation Capital is a venture capital firm committed to supporting entrepreneurs and their companies, targeting innovative opportunities in cleantech, consumer Internet and infrastructure; telecommunications and networking; and enterprise software and on demand services. Foundation Capital funds total more than $2.4 billion. For more information, visitwww.foundationcapital.com.
About Guardian Analytics
Headquartered in Los Altos, Calif., Guardian Analytics is focused on the prevention of online account fraud. The company's real-time risk management approach to fraud detection, forensics and risk monitoring is built on strong analytics and predictive models of individual behavior. Leading financial services institutions rely on Guardian Analytics to protect individual account assets and the integrity of their online channels. Founded in 2005, Guardian Analytics is privately held with venture funding from Foundation Capital and Sutter Hill Ventures. For more information, please visit www.guardiananalytics.com.
SOURCE Guardian Analytics


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Win up to $5,000 in the “Are You Debit Smart?” Video Contest from DebitFacts.org



PULSE

Site Rewards Consumers for Informative, Inspirational and Entertaining Videos
HOUSTON--(BUSINESS WIRE)--DebitFacts.org, the only online educational resource focused exclusively on debit, kicks off the “Are You Debit Smart?” video contest today, inviting consumers across the U.S. to share success stories related to using a debit card as their preferred form of payment. By simply submitting a short video, consumers could win up to $5,000 on a prepaid Discover Card, as well as a money-management session with a financial counselor.
“The ‘Are You Debit Smart?’ video contest launches at a time when debit cards account for the greatest share of purchases made in retail stores”
Designed to promote the many benefits of using debit, the contest encourages consumers to highlight why they use their debit card, what they buy with debit, when they use it and much more.
“The ‘Are You Debit Smart?’ video contest launches at a time when debit cards account for the greatest share of purchases made in retail stores,” said Steve Sievert, senior vice president, communications and marketing, with PULSE, a leading debit/ATM network and sponsor of DebitFacts.org. “The contest gives consumers the chance to share their personal stories about how debit cards have changed and enhanced their financial management skills, and even transformed their purchasing behaviors.”


Beginning today and continuing through July 4, 2010, DebitFacts.org will accept video submissions. Entries will be judged by a panel of experts from the financial and creative fields. A grand prize of $5,000, second-place prize of $2,500 and third-place prize of $1,000 will be awarded via prepaid Discover Cards. In addition to the prepaid card, each of the top three prize winners will receive personal consultation time with Judy Lawrence, financial counselor and coach, author of “The Budget Kit” and founder of www.moneytracker.com.
One $500 prize will be awarded weekly during the contest period to the person who has the cleverest Tweet about the video(s) entered into the contest. Entrants are permitted to Tweet about their own videos as well. Weeks will be defined as starting at 12:00 a.m. CDT on Mondays and ending at 11:59:59 p.m. CDT on Sundays, with the exception of the last week, which ends at 11:59:59 p.m. CDT on Sunday, July 4. Entrants are encouraged to follow DebitFacts.org on Twitter for contest updates.
“Are You Debit Smart?” video contest entries will be accepted from May 24 through July 4 at http://www.debitfacts.org/are-you-debit-smart/, and the three winners will be announced August 2, 2010 on DebitFacts.org. The website will highlight financial insights generated from the contest throughout the summer.
Visit http://www.debitfacts.org/are-you-debit-smart/ for complete “Are You Debit Smart?” video contest details.
About DebitFacts.org
DebitFacts.org is an online resource for managing your money through the debit card payment method. The site offers consumers practical information about debit’s role as a convenient payment method and a valuable financial planning tool. DebitFacts.org counters myths surrounding debit cards by offering fact-based information consumers need to know when using debit, as well as advice on making debit part of their personal money management strategy. The site is sponsored by the PULSE® debit/ATM network.
About PULSE
PULSE, a Discover Financial Services (NYSE: DFS) company, is a leading ATM/debit network, serving more than 4,400 banks, credit unions and savings institutions across the United States. The network links cardholders with ATMs and POS terminals at retail locations nationwide. Through its global ATM network, PULSE provides worldwide cash access for Diners Club and Discover cardholders through hundreds of thousands of ATM locations. The company is also a source of electronic payments research and is committed to providing its participants with education on emerging products, services and trends in the payments industry. For more information, visit www.pulsenetwork.com.

Contacts

PULSE

Steve Sievert, 832-214-0111

ssievert@pulsenetwork.com

or

GolinHarris

Tara Hanney, 713-513-9561

thanney@golinharris.com
Permalink: http://www.businesswire.com/news/home/20100524005441/en/Win-5000-%E2%80%9CAre-Debit-Smart%E2%80%9D-Video-Contest
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Win up to $5,000 in the “Are You Debit Smart?” Video Contest from DebitFacts.org



PULSE

Site Rewards Consumers for Informative, Inspirational and Entertaining Videos
HOUSTON--(BUSINESS WIRE)--DebitFacts.org, the only online educational resource focused exclusively on debit, kicks off the “Are You Debit Smart?” video contest today, inviting consumers across the U.S. to share success stories related to using a debit card as their preferred form of payment. By simply submitting a short video, consumers could win up to $5,000 on a prepaid Discover Card, as well as a money-management session with a financial counselor.
“The ‘Are You Debit Smart?’ video contest launches at a time when debit cards account for the greatest share of purchases made in retail stores”
Designed to promote the many benefits of using debit, the contest encourages consumers to highlight why they use their debit card, what they buy with debit, when they use it and much more.
“The ‘Are You Debit Smart?’ video contest launches at a time when debit cards account for the greatest share of purchases made in retail stores,” said Steve Sievert, senior vice president, communications and marketing, with PULSE, a leading debit/ATM network and sponsor of DebitFacts.org. “The contest gives consumers the chance to share their personal stories about how debit cards have changed and enhanced their financial management skills, and even transformed their purchasing behaviors.”


Beginning today and continuing through July 4, 2010, DebitFacts.org will accept video submissions. Entries will be judged by a panel of experts from the financial and creative fields. A grand prize of $5,000, second-place prize of $2,500 and third-place prize of $1,000 will be awarded via prepaid Discover Cards. In addition to the prepaid card, each of the top three prize winners will receive personal consultation time with Judy Lawrence, financial counselor and coach, author of “The Budget Kit” and founder of www.moneytracker.com.
One $500 prize will be awarded weekly during the contest period to the person who has the cleverest Tweet about the video(s) entered into the contest. Entrants are permitted to Tweet about their own videos as well. Weeks will be defined as starting at 12:00 a.m. CDT on Mondays and ending at 11:59:59 p.m. CDT on Sundays, with the exception of the last week, which ends at 11:59:59 p.m. CDT on Sunday, July 4. Entrants are encouraged to follow DebitFacts.org on Twitter for contest updates.
“Are You Debit Smart?” video contest entries will be accepted from May 24 through July 4 at http://www.debitfacts.org/are-you-debit-smart/, and the three winners will be announced August 2, 2010 on DebitFacts.org. The website will highlight financial insights generated from the contest throughout the summer.
Visit http://www.debitfacts.org/are-you-debit-smart/ for complete “Are You Debit Smart?” video contest details.
About DebitFacts.org
DebitFacts.org is an online resource for managing your money through the debit card payment method. The site offers consumers practical information about debit’s role as a convenient payment method and a valuable financial planning tool. DebitFacts.org counters myths surrounding debit cards by offering fact-based information consumers need to know when using debit, as well as advice on making debit part of their personal money management strategy. The site is sponsored by the PULSE® debit/ATM network.
About PULSE
PULSE, a Discover Financial Services (NYSE: DFS) company, is a leading ATM/debit network, serving more than 4,400 banks, credit unions and savings institutions across the United States. The network links cardholders with ATMs and POS terminals at retail locations nationwide. Through its global ATM network, PULSE provides worldwide cash access for Diners Club and Discover cardholders through hundreds of thousands of ATM locations. The company is also a source of electronic payments research and is committed to providing its participants with education on emerging products, services and trends in the payments industry. For more information, visit www.pulsenetwork.com.

Contacts

PULSE

Steve Sievert, 832-214-0111

ssievert@pulsenetwork.com

or

GolinHarris

Tara Hanney, 713-513-9561

thanney@golinharris.com
Permalink: http://www.businesswire.com/news/home/20100524005441/en/Win-5000-%E2%80%9CAre-Debit-Smart%E2%80%9D-Video-Contest
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Discover Bank Offers Consumer Savings Products Through New Affinity Partnership with Investor Group



http://www.discoverfinancial.com

Alliance with American Association of Individual Investors Will Boost Discover’s Growing Deposit Base
RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover Bank is now offering its popular savings products to members of the American Association of Individual Investors (AAII) through a co-branded effort exclusively designed for the organization.
“Our products are a good match for the AAII’s members who want to build wealth and manage their assets conveniently and easily with the high standards of service that they expect from their organization and its partners.”
AAII’s 150,000 members can use a dedicated Web site and toll-free telephone numbers to invest in certificates of deposit, money market accounts, online savings accounts and retirement products such as IRA CDs and Roth IRAs. Discover Bank’s deposit rates have consistently beat the national average, according to Informa Research Services.
“Adding strong affinity partners helps drive Discover toward our goal of being the leading direct bank in America,” said Discover Bank President Christina Favilla. “Our products are a good match for the AAII’s members who want to build wealth and manage their assets conveniently and easily with the high standards of service that they expect from their organization and its partners.”
“AAII is pleased to offer our members access to the deposit products and preferred interest rates that the Discover Bank program affords,” said John Markese, AAII's president and chief executive officer.
Discover Bank is one of the leading direct banks in the country. Direct-to-consumer deposits more than doubled in the past year, exceeding $12.6 billion at the end of 2009. Savings products are available to consumers at www.discoverbank.com. AAII members may go to www.aaii.com or call 1-800-388-1302.
The independent, non-profit AAII was formed in 1978 to provide education, information and research to help people manage their own assets.
Discover also has an affinity relationship with AAA, which has generated more than $1 billion in new deposits from its members in the past two years.
About AAII
The American Association of Individual Investors is an independent nonprofit corporation formed in 1978 for the purpose of assisting individuals in becoming effective managers of their own assets through programs of education, information and research. For more information, visit www.aaii.com.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. Visit www.discoverfinancial.com.

Contacts

Media contact:

Jon Drummond

Discover Financial Services

224-405-1888

jondrummond@discover.com
Permalink: http://www.businesswire.com/news/home/20100524005206/en/Discover-Bank-Offers-Consumer-Savings-Products-Affinity


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Discover Bank Offers Consumer Savings Products Through New Affinity Partnership with Investor Group



http://www.discoverfinancial.com

Alliance with American Association of Individual Investors Will Boost Discover’s Growing Deposit Base
RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover Bank is now offering its popular savings products to members of the American Association of Individual Investors (AAII) through a co-branded effort exclusively designed for the organization.
“Our products are a good match for the AAII’s members who want to build wealth and manage their assets conveniently and easily with the high standards of service that they expect from their organization and its partners.”
AAII’s 150,000 members can use a dedicated Web site and toll-free telephone numbers to invest in certificates of deposit, money market accounts, online savings accounts and retirement products such as IRA CDs and Roth IRAs. Discover Bank’s deposit rates have consistently beat the national average, according to Informa Research Services.
“Adding strong affinity partners helps drive Discover toward our goal of being the leading direct bank in America,” said Discover Bank President Christina Favilla. “Our products are a good match for the AAII’s members who want to build wealth and manage their assets conveniently and easily with the high standards of service that they expect from their organization and its partners.”
“AAII is pleased to offer our members access to the deposit products and preferred interest rates that the Discover Bank program affords,” said John Markese, AAII's president and chief executive officer.
Discover Bank is one of the leading direct banks in the country. Direct-to-consumer deposits more than doubled in the past year, exceeding $12.6 billion at the end of 2009. Savings products are available to consumers at www.discoverbank.com. AAII members may go to www.aaii.com or call 1-800-388-1302.
The independent, non-profit AAII was formed in 1978 to provide education, information and research to help people manage their own assets.
Discover also has an affinity relationship with AAA, which has generated more than $1 billion in new deposits from its members in the past two years.
About AAII
The American Association of Individual Investors is an independent nonprofit corporation formed in 1978 for the purpose of assisting individuals in becoming effective managers of their own assets through programs of education, information and research. For more information, visit www.aaii.com.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. Visit www.discoverfinancial.com.

Contacts

Media contact:

Jon Drummond

Discover Financial Services

224-405-1888

jondrummond@discover.com
Permalink: http://www.businesswire.com/news/home/20100524005206/en/Discover-Bank-Offers-Consumer-Savings-Products-Affinity


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Heartland Payment Systems® Commercially Launches State-of-the-Art Payment Card Security Technology



http://www.HeartlandPaymentSystems.com

Designed to protect businesses and consumers nationwide, Heartland’s end-to-end encryption safeguards credit and debit card account information from the moment of card swipe and through the Heartland network. With no additional transaction fees charged to merchants, E3 also reduces the cost of Payment Card Industry (PCI) compliance and the risk of being non-compliant.

NRA Show 2010
CHICAGO--(BUSINESS WIRE)-- 2010 National Restaurant Association, Hotel-Motel Show ― Heartland Payment Systems® (NYSE:HPY), the nation’s fifth largest payments processor, has commercially launched its new, state-of-the-art payment card security technology — making it available to merchants and business owners nationwide. Heartland has spent more than two years developing and ten months beta testing and iteratively improving this end-to-end encryption technology — called E3™ — that is designed to protect cardholder credit and debit card data, rendering scrambled data useless to cybercriminals.
“Card Payment Security for the Small Merchant”
“Heartland leveraged its unique experience and knowledge to develop E3 — and made the financial investment needed to protect this sensitive information. Data is protected from the point of swipe and through Heartland’s processing network — not just at certain points during the transaction flow,” noted Bob Carr, Heartland’s chairman and chief executive officer. “We are making the highest degree of security available to every merchant regardless of size — without charging extra monthly or transaction fees and taxes. Additionally, because E3 does not allow card numbers to exist on or through a merchant’s system or network — when combined with our Self-Assessment Questionnaire (SAQ) assistance services — E3 reduces the cost of PCI compliance and the risk of non-compliance for business owners.”
In today’s world, protecting cardholder data is critical — for merchants and consumers alike. In the past two years, there were more than 650 reported breaches — a significant number considering many believe the majority of breaches are never reported. That number continues to increase daily because — in just a few brief seconds — from the time a customer swipes a credit or debit card to pay for a purchase until the transaction is complete, sensitive cardholder data can be vulnerable. If a business’ system is breached without encrypted card data, the owner may be forced to pay steep fines and deal with the stress and cost of legal issues, business recovery and rebuilding customer confidence — and potentially the possibility of going out of business.
To protect against this, E3 features layers of security using both software and tamper-resistant hardware — employing the Advanced Encryption Standard of encryption — AES — the most secure encryption algorithms available. E3 encrypts all Track 1 and 2 data from the card’s magnetic stripe the moment it is converted from analog to digital data and enters a merchant’s system as scrambled data … never storing card numbers or passing them through the merchant’s system or network.
Carr explains, “Centuries ago, cities across the world gave up on trying to protect themselves by making walls higher and thicker and more distant with moats. The enemy was always finding new ways to destroy the walls or circumvent the security efforts with Trojan horse attacks. We believe it is important to make card data indiscernible as it enters the payment cycle so if the firewalls are too weak, the enemy gains nothing of commercial value. We believe this is the enhanced security method the payment industry requires in today’s world.”
E3 is easy and cost-effective to implement. There are no changes to a merchant’s daily routine or the speed of transactions — and no large equipment investment. Merchants purchase an E3 terminal or PC-based magnetic stripe reader/wedge* at — or below — the prices of standard, less-secure processing equipment on the market today. E3 devices include EMV/chip card technology capabilities — which may be coming to the United States — and the ability to update encryption technology.
Once the hardware is installed, merchants continue normal business operations — saving time and money because E3 automates the process of continually changing the encryption keys that convert sensitive account information to encrypted data. These necessary encryption updates are performed at no extra cost to business owners. In line with Heartland’s goal of making adoption of state-of-the-art data security easy for business owners nationwide, Heartland also does not impose extra — unnecessary — monthly or transaction fees and “taxes” for E3 technology.
Additionally, Heartland helps the vast majority of merchants who use E3 complete the appropriate forms required for PCI compliance so they don’t have to decipher the complexities by themselves. All business owners who accept credit and debit cards are subject to the standards of the PCI Council. The PCI Data Security Standards (DSS) define how sensitive data is stored, processed and transmitted. Most owners of small and mid-sized businesses are on their own to ensure they meet the more than 230 PCI standards.
Lastly, in the unlikely event of a data breach using E3, Heartland — with its “E3 End-to-End Encryption Warranty” — will reimburse a merchant’s breach-related fines. If, during the warranty period on any particular Heartland E3 device, the device fails to prevent the unauthorized decryption of cardholder data on that particular device, and that failure is a result of a defect or error in Heartland’s software or hardware, Heartland will pay the merchant the amount of compliance fines, fees and/or assessments the merchant pays to the card brands, issuing bank or acquiring bank. Heartland will also pay the merchant any costs he/she pays for a directly related forensic audit conducted by a PCI-certified Qualified Incident Response Assessor.
“Data security is mission critical in today’s world,” Carr concluded. “That’s why Heartland is taking a leadership role in making end-to-end encryption available and easy to implement for merchants large and small. While not a silver bullet, we feel this technology is a significant leap forward in helping the payments industry — as well as merchants and consumers — mitigate much of the risk of cybercrime. We have been working on this solution for two years now and are proud to be able to offer it to the stakeholders of the electronic payments world.”
For more information on this warranty and E3, access to a new payments security blog — “The E3 Blog” — and “Card Payment Security for the Small Merchant,” a white paper written by Mercator Advisory Group’s George Peabody — visit E3secure.com. To request photos of E3 hardware, contact LBrown@VaultCommunications.com.
* PC-based point-of-sale (POS) systems may require some integration by the POS provider.
About Heartland Payment Systems
Heartland Payment Systems, Inc. (NYSE: HPY), the fifth largest payments processor in the United States, delivers credit/debit/prepaid card processing, gift marketing, payroll, check managementand related business solutions to more than 250,000 business locations nationwide. Heartland is the founding supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. For more information, please visit HeartlandPaymentSystems.com, MerchantBillOfRights.org, CostOfABurger.com andE3secure.com.

Contacts

Leanne Scott Brown

Vault Communications

610.455.2742

LBrown@VaultCommunications.com

or

Nancy Gross

Heartland Payment Systems

888.798.3131 x2202

Nancy.Gross@e-hps.com
Permalink: http://www.businesswire.com/news/home/20100524005829/en/Heartland-Payment-Systems%C2%AE-Commercially-Launches-State-of-the-Art-Payment


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Heartland Payment Systems® Commercially Launches State-of-the-Art Payment Card Security Technology



http://www.HeartlandPaymentSystems.com

Designed to protect businesses and consumers nationwide, Heartland’s end-to-end encryption safeguards credit and debit card account information from the moment of card swipe and through the Heartland network. With no additional transaction fees charged to merchants, E3 also reduces the cost of Payment Card Industry (PCI) compliance and the risk of being non-compliant.

NRA Show 2010
CHICAGO--(BUSINESS WIRE)-- 2010 National Restaurant Association, Hotel-Motel Show ― Heartland Payment Systems® (NYSE:HPY), the nation’s fifth largest payments processor, has commercially launched its new, state-of-the-art payment card security technology — making it available to merchants and business owners nationwide. Heartland has spent more than two years developing and ten months beta testing and iteratively improving this end-to-end encryption technology — called E3™ — that is designed to protect cardholder credit and debit card data, rendering scrambled data useless to cybercriminals.
“Card Payment Security for the Small Merchant”
“Heartland leveraged its unique experience and knowledge to develop E3 — and made the financial investment needed to protect this sensitive information. Data is protected from the point of swipe and through Heartland’s processing network — not just at certain points during the transaction flow,” noted Bob Carr, Heartland’s chairman and chief executive officer. “We are making the highest degree of security available to every merchant regardless of size — without charging extra monthly or transaction fees and taxes. Additionally, because E3 does not allow card numbers to exist on or through a merchant’s system or network — when combined with our Self-Assessment Questionnaire (SAQ) assistance services — E3 reduces the cost of PCI compliance and the risk of non-compliance for business owners.”
In today’s world, protecting cardholder data is critical — for merchants and consumers alike. In the past two years, there were more than 650 reported breaches — a significant number considering many believe the majority of breaches are never reported. That number continues to increase daily because — in just a few brief seconds — from the time a customer swipes a credit or debit card to pay for a purchase until the transaction is complete, sensitive cardholder data can be vulnerable. If a business’ system is breached without encrypted card data, the owner may be forced to pay steep fines and deal with the stress and cost of legal issues, business recovery and rebuilding customer confidence — and potentially the possibility of going out of business.
To protect against this, E3 features layers of security using both software and tamper-resistant hardware — employing the Advanced Encryption Standard of encryption — AES — the most secure encryption algorithms available. E3 encrypts all Track 1 and 2 data from the card’s magnetic stripe the moment it is converted from analog to digital data and enters a merchant’s system as scrambled data … never storing card numbers or passing them through the merchant’s system or network.
Carr explains, “Centuries ago, cities across the world gave up on trying to protect themselves by making walls higher and thicker and more distant with moats. The enemy was always finding new ways to destroy the walls or circumvent the security efforts with Trojan horse attacks. We believe it is important to make card data indiscernible as it enters the payment cycle so if the firewalls are too weak, the enemy gains nothing of commercial value. We believe this is the enhanced security method the payment industry requires in today’s world.”
E3 is easy and cost-effective to implement. There are no changes to a merchant’s daily routine or the speed of transactions — and no large equipment investment. Merchants purchase an E3 terminal or PC-based magnetic stripe reader/wedge* at — or below — the prices of standard, less-secure processing equipment on the market today. E3 devices include EMV/chip card technology capabilities — which may be coming to the United States — and the ability to update encryption technology.
Once the hardware is installed, merchants continue normal business operations — saving time and money because E3 automates the process of continually changing the encryption keys that convert sensitive account information to encrypted data. These necessary encryption updates are performed at no extra cost to business owners. In line with Heartland’s goal of making adoption of state-of-the-art data security easy for business owners nationwide, Heartland also does not impose extra — unnecessary — monthly or transaction fees and “taxes” for E3 technology.
Additionally, Heartland helps the vast majority of merchants who use E3 complete the appropriate forms required for PCI compliance so they don’t have to decipher the complexities by themselves. All business owners who accept credit and debit cards are subject to the standards of the PCI Council. The PCI Data Security Standards (DSS) define how sensitive data is stored, processed and transmitted. Most owners of small and mid-sized businesses are on their own to ensure they meet the more than 230 PCI standards.
Lastly, in the unlikely event of a data breach using E3, Heartland — with its “E3 End-to-End Encryption Warranty” — will reimburse a merchant’s breach-related fines. If, during the warranty period on any particular Heartland E3 device, the device fails to prevent the unauthorized decryption of cardholder data on that particular device, and that failure is a result of a defect or error in Heartland’s software or hardware, Heartland will pay the merchant the amount of compliance fines, fees and/or assessments the merchant pays to the card brands, issuing bank or acquiring bank. Heartland will also pay the merchant any costs he/she pays for a directly related forensic audit conducted by a PCI-certified Qualified Incident Response Assessor.
“Data security is mission critical in today’s world,” Carr concluded. “That’s why Heartland is taking a leadership role in making end-to-end encryption available and easy to implement for merchants large and small. While not a silver bullet, we feel this technology is a significant leap forward in helping the payments industry — as well as merchants and consumers — mitigate much of the risk of cybercrime. We have been working on this solution for two years now and are proud to be able to offer it to the stakeholders of the electronic payments world.”
For more information on this warranty and E3, access to a new payments security blog — “The E3 Blog” — and “Card Payment Security for the Small Merchant,” a white paper written by Mercator Advisory Group’s George Peabody — visit E3secure.com. To request photos of E3 hardware, contact LBrown@VaultCommunications.com.
* PC-based point-of-sale (POS) systems may require some integration by the POS provider.
About Heartland Payment Systems
Heartland Payment Systems, Inc. (NYSE: HPY), the fifth largest payments processor in the United States, delivers credit/debit/prepaid card processing, gift marketing, payroll, check managementand related business solutions to more than 250,000 business locations nationwide. Heartland is the founding supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. For more information, please visit HeartlandPaymentSystems.com, MerchantBillOfRights.org, CostOfABurger.com andE3secure.com.

Contacts

Leanne Scott Brown

Vault Communications

610.455.2742

LBrown@VaultCommunications.com

or

Nancy Gross

Heartland Payment Systems

888.798.3131 x2202

Nancy.Gross@e-hps.com
Permalink: http://www.businesswire.com/news/home/20100524005829/en/Heartland-Payment-Systems%C2%AE-Commercially-Launches-State-of-the-Art-Payment


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