Wells Fargo to Roll Out Mobile Payments Pilot; Visa Demonstrating Capability at CARTES 2010

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Piloting innovation to help customers conduct their payments in a quicker and more convenient way

CARTES & IDentification 2010

SAN FRANCISCO--(BUSINESS WIRE)--Continuing its leadership in the mobile banking space, Wells Fargo & Company (NYSE:WFC) is rolling out its Visa® (NYSE:V) microSD mobile payment pilot. This San Francisco based pilot will include 200 Wells Fargo team members who are also users of specific BlackBerry® smartphones and iPhone™ models.

“We’re proud, once again, to lead innovation in helping our customers conduct their financial transactions when, where and how they want.”

The pilot features DeviceFidelity’s In2Pay™ technology. BlackBerry smartphone users will directly insert the In2Pay microSD card into the slot in their device, while iPhone users will receive the protective In2Pay Case for iPhone with the In2Pay microSD card.

To make payments, users simply open the Wells Fargo Mobile Banking application, select pay with phone and wave the phone in front of the contactless reader at the point of purchase. The reader will light up and beep, indicating that the payment has been received.

Wells Fargo team members participating in the pilot will be able to use their personal BlackBerry smartphone or iPhone to make payments wherever there are contactless payment readers, including fast food restaurants, taxis, sporting event concession stands and vending machines.

“Wells Fargo was the first major financial services company to pilot mobile credit and debit payments that could be used anywhere nationwide contactless readers were available,” said Peter Ho, product manager for Wells Fargo Card Services and Consumer Lending. “We’re proud, once again, to lead innovation in helping our customers conduct their financial transactions when, where and how they want.”

The secure In2Pay microSD card will host Visa payWave, Visa’s contactless payment application. Wells Fargo specifically integrated the Visa payWave functionality into its award winning Wells Fargo Mobile Banking application for this pilot. Pilot participants can choose their payment instrument with the option of loading up to one Wells Fargo Visa Credit Card and one Wells Fargo Visa Debit Card.

The In2Pay technology developed by DeviceFidelity consists of a specially designed secure memory card containing a smart card chip, an integrated software controlled antenna and flash memory for storage of user content like photos and music. The smart card chip hosts Visa’s contactless application, Visa payWave, and is capable of hosting multiple accounts such as credit, debit and prepaid.

“We are proud to be providing the technology that is powering this unique pilot program at one of the most innovative banks in America,” says Amitaabh Malhotra, Chief Operating Officer of DeviceFidelity. “Working with Visa and its financial institution partners, we are at the forefront of making fast progress in bringing this solution to potentially millions of consumers.”

Visa mobile payments use multiple layers of security including advanced security technology to uniquely identify each contactless transaction. The technology is designed to protect against counterfeit fraud. All Wells Fargo Visa payWave transactions, including those initiated by a mobile phone, are backed by Wells Fargo’s Zero Liability protection. This means that a cardholder is not liable for any unauthorized transactions made at merchants, over the phone, on the Internet or at the ATM, when promptly reported.

Visa will showcase the Wells Fargo mobile payment application at the CARTES & IDentification Conference, Stand 4J022 from Tuesday December 7 to December 9, 2010 at the Paris-Nord Villepinte Exhibition Center, in Hall 4. To arrange a media pass, schedule an interview or for product information, please contact Elvira Swanson at 415-932-2564, or globalmedia@visa.com.

In October 2007, Wells Fargo became the first major financial services company in the country to offer consumer and small business customers both mobile web site (WF.com) and text-based (93557) account access via mobile devices. Today, Wells Fargo's mobile banking portfolio provides customers with more choices in how they bank, such as the Wells Fargo Mobile Banking app available on BlackBerry smartphones and the iPhone, available from wf.com.

Through Wells Fargo's Mobile Banking applications, customers can access their current available account balances, transaction history, and credit card payment information. Customers can also securely transfer funds to their other accounts or to other Wells Fargo customers and pay bills. In addition, customers can receive alerts on their mobile devices.

The Wells Fargo Mobile Banking App is available for free from the App Store on iPhone or at www.iTunes.com/AppStore.

Mobile Banking is covered by Wells Fargo's Online Security Guarantee. Visit https://www.wellsfargo.com/privacy_security/online/guarantee to learn more.

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 one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 20,000 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.

About DeviceFidelity

DeviceFidelity, Inc. develops plug-and-play technologies that empower a variety of institutions to deploy their services and applications on millions of mobile phones worldwide. Its patent-pending In2Pay microSD and In2Pay iCaisse solution transforms popular mobile phones into an interactive contactless transaction device. Committed to bringing contactless innovation to the mobile phone, the company has numerous patents pending in both U.S. and international patent offices. DeviceFidelity is a private corporation with headquarters in Richardson, Texas and offices in San Mateo, California and New York. For more information, go to www.devicefidelity.com.

Wells Fargo & Company

Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked #19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited.

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Checkgateway Joins the Secure Vault Payments Network

Leading ACH Payment Processor Offers Online Payment Option to Financial Institutions, Merchants, Billers and Payment Gateway Clients

PHOENIX--(BUSINESS WIRE)--Checkgateway announced today they have joined the Secure Vault Payments^TM network and now offer the online payment option to their nearly 10,000 merchants.  

“Internet retailers desperately need a viable check debit solution that will allow them to fulfill orders in a timely manner. Because it guarantees the retailer funds, we feel combining Secure Vault Payments with our advanced technology will create win-win relationships in nearly every sector.”

Secure Vault Payments is a safe and secure online payment network developed by NACHA — The Electronic Payments Association® and eWise, a provider of online payment and personal financial management solutions.

“Secure Vault Payments will allow us to tap into the online retail market,” Says John Kirchhefer, CEO of Checkgateway. “Internet retailers desperately need a viable check debit solution that will allow them to fulfill orders in a timely manner. Because it guarantees the retailer funds, we feel combining Secure Vault Payments with our advanced technology will create win-win relationships in nearly every sector.”

Designed specifically for the unique security and convenience requirements of online payments and ecommerce, Secure Vault Payments enables consumers to initiate fast and secure payments for purchases and bill payments through their financial institutions’ online banking platforms without enrolling, registering or sharing any account information. Financial institutions authenticate consumers and provide businesses with real-time authorization and confirmation of ACH transactions.

“We are fortunate to be able to provide advanced settlement, reporting and merchant boarding solutions from a procedural and software perspective for financial institutions and gateways,” says Brian Bonfigllio, CIO of Checkgateway. “I am very excited to help them with a comprehensive Secure Vault Payments offering to better the user experience and profitability for our clients.”

“We are pleased to welcome Checkgateway to the Secure Vault Payments network,” said Richard Brierley-Jones, Executive Vice-President of eWise. “Their expertise with ACH payment processing as well as their proprietary reporting and settlement system makes them a logical and valued member of the network.”

Companies interested in joining the Secure Vault Payments network should contact Dean Seifert, Senior Vice President, eWise at svp@ewise.com. Inquiries regarding the NACHA Operating Rules or Secure Vault Payments business rules should be directed to NACHA.

About Checkgateway

Checkgateway, a leader and innovator in the Automated Clearing House (ACH) payment processing industry, has been an ACH service bureau since 1993. Checkgateway is an affiliate member of the National Automated Clearing House Association (NACHA), an organization charged with making operational rules for the ACH network. In addition to providing superior and innovated services for ACH processing at a merchant level, Checkgateway also assists other Third Party Processors and financial institutions with software solutions by licensing our proprietary processing platform. Checkgateway provides the most robust and competitive processing services, software solutions and consulting services in the industry. This wide array of specialized products puts Checkgateway at the forefront of ACH payment processing.

About eWise

eWise is partnering with NACHA to provide the Secure Vault Payments network, utilizing its Online Banking ePayments (OBeP) technology and account management services. eWise is an online payment and personal financial management solutions provider with a reputation for providing innovative solutions that make transacting online easier and more secure. eWise offices in US, UK, China and Australia support some of the world’s top 50 financial institutions with solutions delivering outstanding, proven ROI for its customers and a better online experience for millions of end-users worldwide. For more information, visit www.ewise.com andwww.securevaultpayments.com.

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Offermatic Introduces Automatic Deals Generated by Credit Card Purchases

Dec 07, 2010 09:00 ET

New Offer Model Allows Consumers to Save Money via Automatic Rebates Applied Directly to Their Credit Card, While Enabling Merchants to Target People Based on Actual Spending History

SUNNYVALE, CA--(Marketwire - December 7, 2010) - Offermatic today introduces a new model for deals and offers that profoundly changes how consumers save money, and how merchants acquire and retain customers. 

For consumers, Offermatic provides a simple and powerful way to save money automatically through their existing credit or debit card -- without the need for coupons, codes, and vouchers. By signing up for the free service online and linking one or more cards, Offermatic anonymously and securely reviews purchase history and identifies highly targeted and relevant money saving offers from merchants. Offers are between $5 and $100, and rebates are applied directly to the user's debit or credit card after a purchase is made. No coupons needed. 

For merchants, better targeting equals better results. Offermatic is the first company to enable permission-based targeting of consumers based on their actual spending history -- the "spending graph." Rather than broad targeting of promotional offers, merchants can now use precision hyper-targeting, improving conversion rates by 10X - 100X over existing online or offline targeting methods. The accuracy of this new approach eliminates waste in marketing spend and allows the merchant to shift spend from marketing and advertising to the actual customer offer or deal.

Offermatic's tests with top retailers yielded a 14.5% conversion rate on offers made to customers -- an exponential improvement over average conversion rate of .5% - 1% via other channels. These results indicate that consumers prefer to receive automatic rebate offers that are highly targeted and personalized, without the hassle of coupons, codes, vouchers, and offers from daily deal sites that are neither highly targeted nor relevant.

The future of marketing is all about data. By enabling precise targeting using customers' spending graph, Offermatic is ushering in a new era of true 1 to 1 marketing. For consumers, Offermatic enables a frictionless savings model that delivers rebates directly to credit or debit cards, and filters offers to ensure relevance. Offermatic's innovative model has the potential to disrupt how promotional marketing is done.

"We're solving a real consumer problem by taking the pain out of saving money," said Faisal Qureshi, founder and CEO, Offermatic. "For retail merchants, we flip mass marketing on its head with a business model where marketing and advertising actually help the consumer. Our approach ensures that merchants and customers both win -- merchants acquire new profitable customers -- not just new customers -- and customers automatically save money just by using their credit or debit card. It's better for merchants, and better for consumers."

For more information, visit www.offermatic.com.

About OffermaticOffermatic brings to market a new model that changes how consumers save money, and how merchants acquire and retain customers. For consumers, Offermatic provides a simple and powerful way to save money automatically through their existing credit or debit card -- without the need for coupons, codes, and vouchers. For merchants, Offermatic enables permission-based targeting of consumers based on their actual spending history -- the "spending graph." Offermatic is founded by experienced Silicon Valley Internet entrepreneurs, and is seed funded by Kleiner Perkins Caulfield & Byers, Bessemer Venture Partners, and private angel investors.

Contact Info:
Mike Barash
Knock Twice
650-520-0120
Email Contact

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• New Startup Doles Out Automatic Deals Based on Credit Card Purchases (mashable.com)
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• Offermatic Introduces Automatic Rebates: Offers Consumers a Bailout with 5% Rebate on Gasoline Purchases. (prweb.com)
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nFinanSe Launches Prepaid Mobile Customer Service App

nFinanSe Launches Prepaid Card Industry’s Most Comprehensive Mobile Customer Service App

Part of the Company’s Ongoing Commitment to Be a Leader in Customer Service

TAMPA, Fla.--(BUSINESS WIRE)--nFinanSe Inc. (OTCBB: NFSE) (www.nFinanSe.com) today announced the successful development, certification and release of the most comprehensive mobile Customer Service Application for the General Purpose Reloadable Prepaid Card Industry.  “Our cardholders encompass a wide segment of our society and we felt that an App was the next logical level of free value-added service for them”

The new nFinanSe App enables cardholders to access their accounts directly from their smart phones or other mobile devices, contact Customer Service or request a return call – all with just the touch of a key.

“Our cardholders encompass a wide segment of our society and we felt that an App was the next logical level of free value-added service for them,” said Jerry R. Welch, Chairman and CEO of nFinanSe. “This is part of our ongoing commitment to provide superior customer service. In today’s technology driven world, the need for innovative and responsive customer service is key for our continued growth.”

The App was developed in-house and is now available for free at the App Store at http://app-store.appspot.com.

nFinanSe has been a leader in customer-facing innovations, commencing with its “Free… of course” campaign three years ago. The Company continues to offer FREE Customer Service – 24 hour a day, 7 days a week, 365 days a year in both English and Spanish. In addition, nFinanSe offers immediate FREE access to highly trained Card Specialists without having to navigate an automated service.

The nFinanSe Reloadable Prepaid Visa® and Discover® Cards feature what the Company believes to be the best overall pricing in the marketplace at this time. The cards sell for just $3 at retail stores; have a low $2.95 monthly maintenance fee for an unlimited number of purchase transactions; and allow cardholders to load additional funds or “top up” for only $2.95. The Company also offers FREE direct deposit of payroll, FREE 24/7/365 live agent customer service in English and Spanish located in the United States and FREE cell phone text message alerts with purchase and balance information* after each transaction.

* nFinanSe does not charge additional fees for text message alerts regarding purchase and balance information. However, please be aware of any charges that may apply from your cell phone provider.

The Visa® Reloadable Prepaid Debit Card is issued by Palm Desert National Bank pursuant to a license from Visa U.S.A., Inc. nFinanSe is a registered ISO of Palm Desert National Bank. The nFinanSe Discover® Reloadable Prepaid Card is issued by Palm Desert National Bank, Palm Desert, CA, Member FDIC pursuant to a license from Discover® Network. Discover® and the Discover acceptance mark are service marks used by Palm Desert National Bank under license from Discover Financial Services. All cards’ funds are insured by the FDIC in accordance with the FDIC’s applicable terms and conditions.

“Safe Harbor” Statement under Private Securities Litigation Reform Act of 1995

This press release contains certain forward-looking statements based on nFinanSe Inc.’s, or the Company’s, current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements include statements regarding the Company’s expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would” or similar words and include statements regarding the anticipated benefits of the Company’s products and the anticipated roll out of the Company’s products. Forward-looking statements in this release are based on information available to the Company as of the date hereof. The Company’s actual results may differ materially from those stated or implied in such forward-looking statements due to risks and uncertainties associated with the Company’s business, which include the Company’s ability to execute its business strategy and the other risk factors disclosed in the Annual Report on Form 10-K for the year ended January 2, 2010 on file with the Securities and Exchange Commission. The Company assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

About nFinanSe Inc.

nFinanSe Inc. (OTC Bulletin Board: NFSE) is an innovative financial services company and provider of stored value and prepaid card solutions headquartered in Tampa, Florida. nFinanSe has developed the nFinanSe Network™, a secure, reliable value load and activation platform that connects with retail merchants and other value load stations located throughout the United States. For more information, visit www.nfinanse.com.

Contacts

nFinanSe Inc., Tampa
Clare J. Morgan, 813-367-4400
cmorgan@nfinanse.com

Permalink: http://www.businesswire.com/news/home/20101207005408/en/nFinanSe-Launches-Prepaid-Card-Industry%E2%80%99s-Comprehensive-Mobile

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How Dodd-Frank Helps Acculynk and their Internet PIN Debit Platform

From Digital Transactions:  


Why an Online PIN-Debit Provider Expects a Lift from Dodd-Frank
Note:  "Online Debit" and "PIN Debit" are one and the same...so "Online PIN Debit"  referred to in this article specifically refers to "Internet PIN Debit" (iPINdebit) or "eCommerce PIN Debit" (ePINDebit).   

Most of the chatter about who will win or lose when the Federal Reserve Board releases its debit card interchange regulations and related rules mandated by the Dodd-Frank financial-reform law centers on card issuers, payment networks, and merchants. But technology vendors are likely to be affected too. One company that expects to win once the regulations take effect next year is Acculynk Inc., the provider of the PaySecure product for Internet PIN-based debit card transactions. PaySecure features a floating online PIN pad that enables a debit cardholder to enter her PIN for authentication when buying online.

“We’re going to get a very nice lift after that,” Ashish Bahl, Acculynk’s chairman and chief executive, tells Digital Transactions News.

The reason Atlanta-based Acculynk expects a lift is that debit card issuers are shopping for new, unaffiliated network alignments. Though the Fed has yet to release its draft regulations, debit executives widely expect the rules to reflect Dodd-Frank’s ban on debit cards carrying the marks only of affiliated networks, for example, Visa Inc.’s brand for signature debit and the Visa-owned Interlink network for point-of-sale PIN debit, or MasterCard for signature debit and MasterCard Inc.’s Maestro network for PIN debit. The majority of the nation’s top debit card issuers have such exclusive arrangements, most with Visa.

Now, even before the rules are out, debit card issuers are shopping for new EFT network partners unaffiliated with their signature-debit network, industry executives say. Acculynk is poised to benefit because it has deals with eight such networks in addition to MasterCard to distribute PaySecure: Fiserv Inc.’s Accel/Exchange, Alaska Option, Credit Union 24, Fifth Third Bancorp’s Jeanie, NetWorks, Fidelity National Information Services (FIS) Inc.’s NYCE, Discover Financial Services’ Pulse, and Shazam. Five are live: Accel/Exchange, Credit Union 24, NYCE, Pulse and NetWorks. As networks recruit new POS debit issuers, Acculynk is poised to rise with the tide. “We’ve had people that have never called us calling,” says Bahl. “It’s a nice position to be in.”

The live networks represent 6,000 bank and credit-union card issuers. On the merchant-acquiring side, U.S. Bancorp’s Elavon subsidiary and independent sales organization Merchant e-Solutions are offering PaySecure to their merchants. Bahl expects JetPay LLC, another ISO, to go live later this month, followed in March by First Data Corp. and in June by JPMorgan Chase & Co.’s Chase Paymentech. Bahl also says FIS’s ClearCommerce unit plans to offer PaySecure as does another large acquirer he can’t yet disclose.

Mike Kelly, general manager of Accel/Exchange, Acculynk’s first partner, says a bit over half of his network’s 2,700 issuers are enabled for PaySecure. “We like our progress so far,” he says. About 3,500 online merchant locations offer the service, he says. Regarding transactions, Kelly says, “it’s not a tremendous amount of volume” so far, but he expects them to pick up as Acculynk recruits more acquirers. “Once you get the big merchant acquirers on board, then you get some traction,” he says.

Bahl wouldn’t disclose transaction volumes, but says they have “skyrocketed” since January when only Accel/Exchange and some of Pulse’s issuers were live.

Coming enhancements to PaySecure include mobile-commerce applications in March for Apple Inc.’s iPhone and mobile devices running on Google Inc.’s Android operating system, according to Bahl. Those will be followed by a version for BlackBerry smart phones from Research in Motion Ltd. Acculynk also plans to enable its PIN-pad so that consumers can opt in to banks’ debit card overdraft services.

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FIS Announces New Prepaid Electronic Financial Account Offering

December 06, 2010 08:15 AM Eastern Time 

JACKSONVILLE, Fla.--(BUSINESS WIRE)--FIS™ (NYSE:FIS), one of the world’s largest providers of banking and payments technology, today announced a new low-cost, prepaid electronic financial account solution that enables consumers to make electronic deposits and payments as an alternative to a traditional demand deposit account (DDA) or general-purpose reloadable (GPR) prepaid card.

“This new electronic account offering solves two major problems confronting financial institutions: maintaining account profitability and how to cost effectively introduce new products that address the needs of the unbanked and underbanked consumer segments”

FIS’ prepaid electronic financial account offering is funded in advance by deposits and value-loading transactions and provides simplified financial services to a variety of consumer segments, including the unbanked and underbanked – collectively defined as the underserved. Because it is not tied to a checking account, this FDIC-insurable account can be offered by both financial institutions and non-financial organizations, such as leading retailers. Unlike a traditional DDA account or GPR prepaid card, the electronic account exclusively supports all forms of electronic payments and eliminates costly paper documents such as monthly statements and account opening documentation.

The prepaid electronic financial account can be accessed via the most common self-service channels including online, point-of-sale (POS), ATM, interactive voice response (IVR), call center and mobile. Account holders can conduct payments using widely accepted payment networks (including NYCE^® Payments Network, Visa^® and MasterCard^®), initiate payments to billers and electronically transfer funds between accounts. Because of its simple and flexible fee structure, the account is cost-effective to own, operate and distribute, making it an ideal financial services product for the underserved segment. The electronic financial account represents leading-edge banking and payments technologies including a comprehensive payment transaction and customer information repository, enabling entirely new levels of customer service.

“Both underserved and traditional banking consumers are demanding the combination of easy, electronic access to banking services and comprehensive electronic payments capabilities – with a straightforward set of fees and costs – to effectively manage their money,” said Frank D’Angelo, executive vice president, FIS Payment Solutions Group. “Electronic financial accounts represent a compelling new opportunity for both financial institutions and other consumer-facing organizations to respond to market drivers such as regulation and effectively serve those consumer needs.”

With the high overhead and recent regulations impacting the revenues associated with traditional checking accounts, many financial institutions are re-evaluating risk and reward models and looking for lower cost, alternative offerings for marginal and high-risk customer segments. In addition, non-financial organizations are looking to target these consumer segments by developing alternative financial service offerings without building banking platforms or managing unfamiliar regulatory requirements.

“This new electronic account offering solves two major problems confronting financial institutions: maintaining account profitability and how to cost effectively introduce new products that address the needs of the unbanked and underbanked consumer segments,” said Tim Sloane, director, Mercator Advisory Group Prepaid practice, a market research and advisory firm.

“FIS is well-positioned to deliver this innovative new account offering by leveraging its best-of-breed electronic payments and real-time banking capabilities from our banking and payment solution portfolios,” said D’Angelo. “The introduction of this account type underscores FIS’ leadership position as a provider of innovative, market-driven solutions and a pioneer of the next generation of payments.”

About FIS

FIS (NYSE: FIS) is one of the world’s largest global providers dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. FIS is a member of Standard & Poor’s 500® Index and consistently holds a leading ranking in the annual FinTech 100 list. For more information about FIS, visit www.fisglobal.com.

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Voice Commerce Launches KYC Secure®

December 06, 2010 09:50 AM Eastern Time 

First federated voice biometric database developed to secure and authenticate e-money and identity transactions  

CARTES & IDentification 2010

LONDON--(BUSINESS WIRE)--In conjunction with Cartes & Identification 2010, Voice Commerce, the innovative financial services group, announces the launch of KYC Secure®, a federated database developed to secure and authenticate a consumer’s identity over their mobile phone. The first regulated mobile identity database of its kind, KYC Secure® has been designed to support a global standard for e-money and mobile payment account opening procedures. It provides any company or financial institution with the means to verify a customer’s identity based on their unique biometric Voice Signature™ in order to significantly reduce exposure to online, credit and identity fraud.

KYC Secure® brings together Voice Commerce’s regulated VoicePay® and Cashflows® payment systems and ensures Voice Signatures™ are verified before being stored in the secure VoiceTransact™ database. A number of organisations are already supporting this federated initiative including Experian which is already providing Voice Commerce with its credit information services and 192business who provide online identity verification solutions to Voice Commerce to verify the identities behind the Voice Signatures™.

Organisations are increasingly required to verify an individual’s identity, whether in situations where there is an existing customer relationship or where a new relationship is being established. At the same time, consumers are increasingly aware of the threats posed to their identities and want to ensure that their financial information is secure. KYC Secure® takes all these needs into account, providing consumer protection in the emerging mobile and e-money transactions area by embedding robust security from the onset and guaranteeing transactions are undertaken only with consumers consent. It also enables organisations to easily verify customers’ and potential customers’ identities through their mobile phone.

In practice KYC Secure® allows an organisation requesting an identity check from a potential customer to simply ask for the individual’s mobile phone number which they enter into the KYC Secure website. The customer who, previously registered to use the service, receives a mobile phone call, where they are asked to identify themselves using their unique biometric Voice Signature™. If the applicant is confirmed using the two factor authentication they are required to pass a four digit number provided to them back to the organisation. This is then entered into the KYC Secure® system by the organisation and serves to triangulate and time stamp that person at a specific location. Additional authenticated information can also be requested before confirmation of the individual’s identity is achieved.

Nick Ogden, CEO of Voice Commerce Group, commented: “The development of security and authentication services over the internet has seen a slow evolution and today many people are still exposed to card fraud and identity theft. To try and prevent the same issues from occurring for mobile and potential e-money users, where some five billion consumers are already looking to tap into the m-commerce market place, we needed to think outside the box and create a whole new system of identity verification and authentication. Having been the first to guarantee internet transactions against fraud we realised the need for security and authenticity in the mobile world was a significant barrier to growth.

“KYC Secure® offers a highly anticipated, guaranteed and secure environment where organisations can collaborate to encourage consumers to use a federated account system that they alone control. Just as the Voice Transact database becomes richer for organisations to use so to do the services available for consumers to instantly sign up to, enabling all parties to benefit from the massive opportunities provided by mobile commerce.”

About Voice Commerce Group

Companies within the Voice Commerce Group are authorised by the UK Financial Services Authority under the Payment Services Regulations and provide a range of payment, e-commerce and mobile money services.

Voice Commerce is a Principal Member of VISA and MasterCard and has contractual service relationships with American Express and other payment schemes where it operates as a principal.http://www.voicecommercegroup.com

Contacts

Hotwire for Voice Commerce Group
Cat Lenheim/Zoe Gray
voicecommerce@hotwirepr.com
+44 (0)207 608 4699 / 4641

Permalink: http://www.businesswire.com/news/home/20101206006188/en/Voice-Commerce-Launches-KYC-Secure%C2%AE

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INSIDE Contactless Changes Name to INSIDE Secure

December 06, 2010 07:00 AM Eastern Time 

New Name Highlights Focus on Secure Semiconductor Platforms

CARTES & IDentification 2010

PARIS--(BUSINESS WIRE)--INSIDE Contactless today announced it has changed its name to INSIDE Secure to reflect the company’s newly enhanced product portfolio and market focus after the acquisition of Atmel Corporation’s (Nasdaq: ATML) Secure Microcontroller Solutions business. The new name represents INSIDE’s mission to be the leading provider of semiconductors for secure transactions and digital identity, and its position as the only company 100 percent focused on secure semiconductors.

“INSIDE Secure is very well positioned to sustain future growth by combining contactless and security expertise, products and innovation to drive trust into the next wave of smart card, mobile and Internet device applications, services and infrastructure.”

“Through the strategic acquisition of Atmel SMS, we are building on our contactless leadership to create a unique fabless semiconductor leader aimed at driving trust for the secure transaction and digital identity markets,” said Rémy de Tonnac, chief executive officer for INSIDE Secure. “INSIDE Secure is very well positioned to sustain future growth by combining contactless and security expertise, products and innovation to drive trust into the next wave of smart card, mobile and Internet device applications, services and infrastructure.”

The next generation of electronic transactions via the Internet, mobile devices and other channels will require increased security. INSIDE Secure’s broad portfolio of secure semiconductors inject trust into mobile phones, passports and ID cards, payment cards, acceptance devices, set top boxes, transit fare collection systems, physical access control systems and other embedded security applications.

With a global presence, INSIDE’s deep understanding of vertical markets and ecosystem relationships, and its fabless model, enable the company to anticipate market needs and adapt quickly to customer requirements.

INSIDE already has achieved leadership positions in several large, high-growth sectors, such as global payments (including EMV dual interface), electronic identification, embedded security, pay TV and mobile NFC markets. With more than 350 million chips delivered to customers each year, INSIDE Secure is the number one global provider of contactless chips for payments, and is the near field communication (NFC) technology and market leader. INSIDE is now uniquely positioned for the anticipated explosive growth in its markets.

About INSIDE Secure

INSIDE’s secure semiconductor products power smart cards, mobile devices, acceptance devices and infrastructure systems. The company’s expertise in microcontroller architectures, security, RF/analog design and vertical market requirements places INSIDE Secure in the forefront of secure contactless, contact, embedded and NFC technologies. INSIDE's innovation, collaboration with customers and commitment to open standards have earned it a leadership position in markets worldwide. INSIDE Secure is headquartered in Aix-en-Provence, France, with offices in Europe, Asia and Silicon Valley. For more information, please visit www.insidesecure.com.

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December 06, 2010 09:00 AM Eastern Time 

Sino Payments and E-vest Inc Team up for Merchants

E-vest and Sino Payments to offer payment services to international merchants

HONG KONG--(BUSINESS WIRE)--Sino Payments, Inc. (www.sinopayments.com) (OTCBB: SNPY) announced that it has agreed to cooperate with E-vest Inc in the US to identify and service US and International ecommerce merchants.

“E-vest and Sino Payments will continue to cooperate to identify and service ecommerce merchants as we build out and continue to provide additional services. As E-vest is based in the US but has many international merchant opportunities, we feel this is a good fit for both companies.”

Sino Payments’ President and CEO Matthew Mecke stated, " E-vest and Sino Payments will continue to cooperate to identify and service ecommerce merchants as we build out and continue to provide additional services. As E-vest is based in the US but has many international merchant opportunities, we feel this is a good fit for both companies.”

Scott Willett, E-vest Inc. President added “as E-Vest, Inc. moves into additional International territories and pursues larger and more diversified merchant types, we are looking forward to having the experience and expertise of Sino Payments, Inc. With our strengths, together we will be able to assist merchants in finding more productive and low-cost solutions in an market that is becoming more regulated and under served to the levels of merchant's standards."

About Sino Payments, Inc. (www.sinopayments.com)

Sino Payments is a US public company with offices in Hong Kong. In addition to providing stand alone worldwide ecommerce processing capability, Sino Payments' proprietary IP transaction processing system (SinoPay GPP) is designed to convert transaction processing systems from old type dial up point of sale systems linked to sophisticated check out terminals to a modern seamless IP transaction process, reducing credit and debit card transaction processing times by half at checkout. Sino Payments focuses on providing IP credit and debit card processing services to large retail chains, including supermarket chains and large regional multinational retailers, in China and throughout Asia.

About E-Vest, Inc.

E-Vest, Inc. is a privately held, U.S.-based company with nine years of experience working with merchant and helping them to evolve as technology and customer demands change in merchant processing. Recently, more focus has been placed in assisting International and high-risk merchant types as opportunities have begun to flourish in these arenas. We pride ourselves on establishing long-term relationships and exceeding the needs of our customers.

Contacts

Sino Payments, Inc.
Matthew Mecke, 1-877-205-6270 x801
Chairman & CEO

Permalink: http://www.businesswire.com/news/home/20101206005702/en/Sino-Payments-E-vest-Team-Merchants

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Hypercom SmartPayments Wynid Achieves PCI DSS Security Approval

Image via CrunchBase

December 06, 2010 01:30 AM Eastern Time 

Integrated Server-Based Solution Consolidates, Streamlines and Protects Payments from Multiple Points of Sale

CARTES & IDentification 2010

PARIS--(BUSINESS WIRE)--CARTES & IDentification 2010--High security electronic payment and digital transaction solutions provider Hypercom Corporation (NYSE: HYC) today announced that its high security SmartPayments Wynid hosted payment platform has achieved PCI DSS certification.

“We deliver the most effective security solutions through continuous innovation and a singular focus on our customers. Achieving certification on this stringent security standard further protects retailers and cardholders and fortifies our position in the marketplace”

“We deliver the most effective security solutions through continuous innovation and a singular focus on our customers. Achieving certification on this stringent security standard further protects retailers and cardholders and fortifies our position in the marketplace,” said T.K. Cheung, Vice President Global Quality and Security, Hypercom Corporation. “SmartPayments Wynid is our premier integrated payment solution, a hosted platform that can be widely used by retailers to help safeguard the integrity of their transactions.”

With Hypercom’s SmartPayments Wynid solution, cardholders are ensured a secure and seamless payment transaction, using magnetic stripe, chip or contactless cards. Retailers benefit from the ease and efficiency of the centralized transaction routing system, which enables them to proactively manage card payments from all their points of sale across a network of many different stores. The SmartPayments Wynid hosted solution provides highly reliable, secure network access and unmatched speed for all transaction types.

Hypercom is a leading provider of integrated payment systems to the retail, petroleum, ticketing and parking sectors, with more than 120,000 points of sale using its SmartPayments Wynid solution.

For additional information, please click here.

About Hypercom

Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products, software solutions 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, self-service 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.

Hypercom and Wynid are registered trademarks of Hypercom Corporation. All other products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.

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