Friday, September 23, 2011

Almost 20% of Consumers Will Not Shop Online Due to Security Concerns - Avira


Consumers Still Have Concerns About Online Shopping Safety According to Avira Survey

Almost 20% Still Do Not Shop Online Because of Security Concerns; Almost 30% Shop Online But Worry, and 22% Shop Only On Well-Known Sites
TETTNANG, Germany--(BUSINESS WIRE)--An overwhelming majority – 70 percent – of consumers either don’t shop online or do so with concerns about their safety while navigating the Internet according to the most recent survey of computer users from IT security expert Avira. During a July 2011 survey of Avira users, just 30 percent of respondents felt secure enough to be worry free as they shop online.

Do you feel secure while shopping online?
A) 28.62% - I shop online, but I always fear that my personal data is going to get into the wrong hands.
B) 22.51% - I trust only well known shops or brands like Amazon or iTunes.
C) 18.85% - Due to security concerns, I do not shop online.
D) 15.65% - I am fine as long as the method of paying and the financial transactions are always secure.
E) 14.36% - I feel secure - fraud with online shopping doesn't happen very often.
- 2,945 respondents with a margin of error of +/- 1.81 percent.
The online shopping survey was presented to Avira’s website visitors during July, 2011 with the question:
“Because of the continued data breaches, phishing attacks, and security vulnerabilities, that get reported on almost every day, consumers have every right to not feel 100 percent safe while they shop online,” said Sorin Mustaca, data security expert from Avira. “I recommend that consumers watch for a few things in order to not become a victim of the online fraudsters:
  • Always check that the connection to the online store where the payment is done is secured. This can be observed first if the URL is starting with “https” and second if a small lock is present in the top right corner of the browser in the URL field (in Chrome) or the name of the website is written in a colored rectangle(in Firefox, IE). If the web browser gives any warnings about the security certificate of the website, then do not proceed to purchase anything from that website.
  • If you don’t know the website you plan to buy from, always check its reputation. Search for other users who are commenting about that website. Searching for “<website> reputation” usually gives good and relevant results.
  • Give your financial details like credit card data only if the website is properly secured and its reputation is good.
  • Try to choose payment methods which don’t require payment upfront. If PayPal is an option, choose that whenever possible. Otherwise, if you’ve ensured the safety of the website you’re on and you feel good about its reputation, then pay with a credit card.
  • Always double check your bank accounts to make sure the amount you spent is the amount that was charged. If there is a discrepancy, contact the website where you made the purchase.”
About Avira
Avira stands for extreme reliability and internet freedom around the globe. The company was founded 25 years ago on Tjark Auerbach's promise to "make software that does good things for my friends and family". Because of Avira's security expertise and award-winning antivirus software, today more than 100 million consumers and small businesses live free of spyware, phishing, worms and other internet based threats. The company delivers IT-security protection to computers, servers and networks both directly and in the cloud.
In addition to protecting the online world, Avira's CEO promotes well being in the offline world through the Auerbach Foundation, which supports charitable and social projects. The philosophy of the foundation is to help people to help themselves.

AsiaPay partners with Smart for safer online payments


AsiaPay, the leading online payments provider in Asia, has tapped Smart Money, the mobile commerce platform of the Philippines’ leading wireless services provider – Smart Communications, Inc. (Smart), allowing PesoPay online merchants to accept online payments made by millions of Smart Money users in the Philippines. 



Shown in the photo during the recent MOA-signing ceremony (from left to right) are: Elmer M. Malolos, Smart Load and Financial Services Head and Joseph Chan, CEO of AsiaPay.

Filipinos will soon have a convenient, efficient and more secure option to purchase goods and services from their favorite online merchants.
AsiaPay, the leading provider of secure electronic payment solutions in Asia has partnered with the Philippines’ leading wireless services provider, Smart Communications, Inc. (Smart), to enable Smart Money account holders to pay for their online purchases through merchants of PesoPay – AsiaPay’s online payment service in the Philippines.
Smart Money, which is the mobile commerce offering of Smart  issued by BDO Unibank, Inc. (BDO) in the Philippines, is the world’s first reloadable cash payment card linked to a mobile phone.

“We are excited to partner with Smart in offering additional payment options to merchants and in providing secure online payment support to Smart Money users. We are committed to providing innovative and effective solutions to the industry, and the extension from online to mobile payments is a key focus for AsiaPay. This latest partnership and offering strengthens our position as one of Asia’s leading payment service providers offering total payment solutions to our clients,” says Joseph Chan, CEO of AsiaPay.

“Our collaboration with AsiaPay underscores our strategy to find and work with the right partners to provide more value and convenience to our customers. The security, affordability and accessibility promised by the Smart Money platform, combined with the wide network of partners of AsiaPay, will provide both online buyers and sellers with an enhanced and unparalleled mobile money experience,” said Elmer M. Malolos, Smart Load and Financial Services Head.

AsiaPay’s wide network of merchant partners, extensive experience in electronic payments, and comprehensive fraud management system with real-time fraud potential transaction screening easily complement Smart Money’s unique lock / unlock feature that enables any Smart Money account holder to authorize online purchases with just a few clicks on a Smart mobile phone .

The extensive capabilities and network of AsiaPay, combined with the unique features of Smart Money, including its alliance with the MasterCard network and internet transaction lock facility, provide internet users with a richer and more secure online shopping experience.

Recent statistics show that the e-commerce industry in the Philippines has not completely taken off. Aside from the fact that Filipinos still prefer the physical experiences associated with shopping, comfort level with online transactions have yet to improve as well. According to the first-ever in-depth study on the internet habits of Filipinos conducted by Yahoo! and Nielsen in March 2009, only 3% of over 20 million internet users in the Philippines, engage in online transactions.

Smart Money’s mobile-based internet security lock feature addresses the security concerns of online shoppers as it requires account holders to input a Personal Identification Number (PIN) via a Smart mobile phone to signify that an online purchase transaction has been authorized.  This gives Smart Money users even more control over their accounts, and protection from fraudulent online transactions.  The Smart Money mobile internet security lock is a first in the Philippines. It won as Best Mobile Money Service at the 2009 Asia Mobile Awards in Hong Kong.

About AsiaPay

Founded in 2000, AsiaPay, a premier electronic payment solution and technology vendor and payment service provider, strives to bring advanced, secured, integrated, and cost-effective electronic payment processing solutions and services to banks and e-businesses in the worldwide market, covering international credit card, debit card and other prepaid card payments. AsiaPay is an accredited payment processor and payment gateway solution vendor for banks, certified IPSP for merchants, certified international 3D-Secure vendor for Visa, MasterCard, American Express, and JCB. AsiaPay offers its variety of award-winning payment solutions that are multi-currency, multi-lingual, multi-card, and multi-channel together with its advanced fraud detection and management solutions. Headquartered in Hong Kong, AsiaPay offers its professional e-payment solution consultancy and quality local service support across its other 9 offices in Asia including: Thailand, Philippines, Singapore, Malaysia, Mainland China (3), Taiwan, and Vietnam. For more information, please visit www.asiapay.com and www.pesopay.com.

About Smart Money

Smart Money is the world’s first reloadable electronic payment card linked to a mobile phone. It combines the strength of Smart's mobile commerce services and MasterCard's wide merchant acceptance network, enabling consumers to enjoy a wide array of goods and services. The pioneering Smart Money platform was accorded a 2010 Ambassador Alfredo M. Yao National Intellectual Property (IP) Award. Smart Money also won the 2001 3GSM Award for “Most Innovative GSM Wireless Service for Customers, and 2009 Asia Mobile Awards for the “Best Mobile Money Service” and “Best Mobile Money for the Unbanked” categories. It was also cited as the “Best Product Innovation” award at the MasterCard Awards in Australia.
There are currently over 8.5 million Filipinos using Smart Money who enjoy the benefits of peer-to-peer fund transfers, airtime reloading, bills payment, ATM withdrawals from over thousands of ATMs here and abroad, and purchases from millions of MasterCard establishments all over the world and on the worldwide web. The platform also allows Smart Money users to send fund transfer directly to over 47 million Smart subscribers.
For more information on Smart Money, log on to http://smart.com.ph/money/

New Mobile Receipt Printer Source


CHARLOTTE, N.C.--(BUSINESS WIRE)--Source Technologies, a global leader in specialized thermal barcode and MICR printing solutions, today announced the immediate availability of its newest mobile thermal receipt printer. The STm.58 offers four (4) distinct configurations to meet countless portable printing requirements.
The STm.58 is an ergonomically designed 2-inch portable with optional dual MagStripe Reader (MSR) and Bluetooth connectivity. This exceptional value-for-the-price-device prints clean, crisp receipts every time. The STm.58’s light weight and durable design modernizes on-demand payment processing and receipt printing for applications like route delivery, field service procedures, arena sales and line busting.
“Due to expanding markets and applications in which mobile printers are being utilized today, we recognize the demand for a lighter and sleeker printer. Customers are always looking for ways to make their jobs easier and faster and we have provided just that with this printer. Like our current mobile thermal printers, the STm.58 offers increased battery life and easy media loading capabilities; however, with an optional credit card reader, this printer is ideal for those needing receipt printing only,” advised Leo Giocondo, Sr. Product Manager.
STm.58 printers offer
  • 80mm/sec maximum print speed and standard 203dpi
  • Paper depletion and cover open sensors
  • Serial, USB and Bluetooth
The new STm.58 portable thermal printer from Source Technologies puts fast, legible receipt printing right in the hands of mobile operations personnel with four (4) different configuration choices.
1. STm.58 with USB and Serial
2. STm.58m with USB, Serial and dual (MSR)
3. STm.58b with USB, Serial standard Bluetooth connectivity
4. STm.58bm with USB, Serial, Bluetooth and MSR
About Us
Celebrating 25 years of innovation, Source Technologies, an industry leader of specialized printing solutions, develops products for global markets including warehousing and distribution, finance, healthcare, transportation and logistics, and retail. Solutions include thermal barcode and receipt printers, MICR laser printers for the on-demand printing of negotiable documents, secure data printers and distribution software. Engineered for ease-of-use and reliability, our business solutions are impactful to organizations aspiring to streamline operations and increase efficiency. Experience something new: www.sourcetech.com

Contacts

Source Technologies
Laurel Ciliberti, 704-969-7573
Corporate Communications Manager
lciliberti@sourcetech.com
Twitter: http://twitter.com/#!/source_tech

Thursday, September 22, 2011

Maxim Demonstrates Near-Field Communication Smart Poster Technology at NFC Bootcamp(TM)



Maxim Unveils NFC Smart Labels With Android(R) Application Featuring SHA-1 Security for the Samsung(R) Nexsus S Smartphone

SUNNYVALE, Calif., Sept. 22, 2011 (GLOBE NEWSWIRE) -- Maxim Integrated Products (Nasdaq:MXIM) introduces a new line of near-field communications (NFC) inlays for the two-billion-units-per-year automatic identification and electronic cash (e-Cash) markets. With a 13.56MHz interface, this family of keys (MAX66000/020/040/100/120/140) is positioned to gain significant market share because 13.56MHz is becoming the worldwide RFID standard for eWallet applications.

Working in conjunction with the NFC Bootcamp and OTA Training, LLC., Maxim will be demonstrating one-way NFC inlays used with Smart Poster technology. Six scheduled events will be held in New York City, Minneapolis, Chicago, Santa Clara, Atlanta, and Dallas. The NFC Bootcamp Series, Learn How to Market with NFC: Creating Effective Marketing Strategies Using Near Field Communication, is the first standardized educational series that brings together industry leaders and hands-on demonstrations of the power of NFC to extend brand engagement.

LogoAbout Maxim Integrated Products
Maxim makes highly integrated analog and mixed-signal semiconductors. Maxim reported revenue of approximately $2.5 billion for fiscal 2011. For more information, go to www.Maxim-ic.com.

About OTA Training:
Based in Dallas, Texas, OTA Training, LLC is the creator and producer of the NFC Bootcamp series, Learn How to Market with NFC: Creating Effective Marketing Strategies Using Near Field Communication. This program brings the most knowledgeable and respected leaders in the NFC industry together to present their visions and ideas. It also feature the NFC Showcase™, which will highlight real-world, hands-on demos of NFC technology at work.
For more information visit: www.nfcbootcamp.com or www.otatraining.com.

Baseball Superstar Alex Rodriguez Teams Up With RushCard to Present the DYNASTY Prepaid Visa RushCard


CINCINNATISept. 22, 2011 /PRNewswire/ -- Baseball superstar Alex Rodriguez is teaming with prepaid industry pioneer and philanthropist Russell Simmons to give more people access to financial freedom with the DYNASTY Prepaid Visa RushCard.
The DYNASTY card will offer members all of the same great features and benefits they have grown accustomed to including prescription drug discount cards, discount health plans, online money tools, and Card-to-Card Transfers. The DYNASTY card is the latest addition to the RushCard suite of cards that includes the original Prepaid Visa RushCard, Baby Phat RushCard, Diamond RushCards, and the new KLS RushCard.  
"Now, more than ever, urban and rural communities need financial tools to help them navigate the struggling economy," saidAlex Rodriquez, third baseman for the New York Yankees. "I am delighted to be working alongside Russell Simmons to introduce the DYNASTY Prepaid Visa RushCard and the many unique features it provides to assist families in meeting their financial objectives. In this challenging economic climate, consumers will benefit from the financial tools that are available to its members."
The new DYNASTY RushCard features a simple yet sleek design created with Alex's input. Members can use their cards anywhere Visa debit cards are accepted – in stores, online, and at ATMs. Plus, RushCard's powerful features help members follow a budget and track their spending while saving on health care services and prescription drug costs. They can simply choose the design that best suits their style.
"As a fellow New Yorker, Alex knows how important it is to financially empower communities that continue to lack access to basic and convenient financial services," said Russell Simmons. "I'm happy that he's stepped up to the plate to help bring the new DYNASTY RushCard and its many affordable features to his fan base."
To learn more about the Prepaid Visa RushCard, and their card fees and money management tools, visit www.rushcard.com or call 866 RUSHCARD. Check out www.flexyourfreedom.com for the latest personal finance news, tips, and polls to help you stay on the road to financial freedom.
About UniRush LLC
Headquartered in Cincinnati and New York City, UniRush LLC provides members with access to services that enable them to achieve their personal and financial goals.  The RushCard offers the more than 60 million Americans without access to a traditional banking relationship an array of basic financial services via the Prepaid Visa RushCard. Benefits of the program include direct deposit, card-to-card funds transfers, online budgeting tools, the ability to withdraw funds at more than 850,000 ATMs globally, the ability to use the card wherever Visa debit cards are accepted, and a suite of health products to help those underserved by the insurance industry. For more information about UniRush and RushCard visit www.rushcard.com or find us at Facebook.com/Rushcard or on Twitter @RushCard.
SOURCE UniRush LLC

Fuze Network Launches Swipe2Pay at Finovate: Enables Easy Cash Payments on Virtually Any Card At Retail Checkouts


Industry-First Solution Revolutionizes Walk-In Bill Payment: Now Live At Over 2,500 Retail Locations Across the U.S.

SALT LAKE CITY and NEW YORKSept. 21, 2011 /PRNewswire/ -- Fuze Network, Inc., an innovative payments technology company dedicated to easing the burden of making cash payments for consumers, billers and retailers today announced the launch of a revolutionary cash payment solution called Swipe2Pay™ at Finovate Fall 2011, a premier event showcasing the latest innovations in financial technology. The first ever offering of its kind, Swipe2Pay enables any retailer to process a cash payment for any card at any time with their existing point of sale (POS) infrastructure.
Increasing numbers of consumers prefer to pay their bills and other purchases with cash, since it's often the easiest, most efficient way to make a payment. Typically, these services require complicated forms which often take time and money to process and result in misdirected funds and unnecessary inconvenience. With Swipe2Pay, card issuers, banks, billers and retailers can offer added choice, speed, and convenience for their customers by enabling them to easily pay, load or deposit cash to over 1 billion cards in the United States - from credit, debit, prepaid, gas, store, gift cards and more - at virtually any retail location using their existing POS terminals. All it takes is the card and cash, and consumers can swipe for nearly instant payment posting with real-time confirmation delivered via SMS text. No more cumbersome forms. No more complicated codes. Just unparalleled speed, convenience and accessibility.
Implementing Swipe2Pay could not be easier for retailers, since it uses the same steps already in place to load and process cash payments on in-store cards. Swipe2Pay's user-friendly technology seamlessly integrates into any existing POS infrastructure with little to no start-up costs and no new equipment or training required.  Plus, one low and consistent convenience fee for any card type means consumers know what they're paying, every transaction, every time - whether putting cash on a card or paying off a balance.
"Swipe2Pay is a game changer in the walk-in bill payment industry – offering unmatched speed and convenience to benefit consumers as much as retail merchants and billers. What better venue than Finovate to introduce Swipe2Pay to the world," said Fuze Network founder and CEO Dave Wilkes.
Over 25,000 additional big box retailers, regional chains, convenience stores, and check-cashing centers across the country are already committed to launching Swipe2Pay in the coming weeks and months.  
Fuze BillPay Card
Fuze is also proud to introduce the all-new BillPay Card, making it easier for consumers to make in-store cash payments on recurring bills from virtually any vendor. Simply walk into one of Fuze's over 100,000 retail locations nationwide and swipe, to have cash payment applied to auto finance, rent and wireless bills to satellite TV, internet service, utilities and more. Fuze partners with individual billers to create a branded BillPay card, offering an added touchpoint to consumers to offer rewards and benefits along with increased convenience and payment control. Fuze can also help billers identify frequent/likely cash paying customers, and mail them a branded BillPay card along with simple instructions to get them started on instantly paying their bill from anywhere.
For more information on Swipe2Pay, visit www.swipe2pay.com. More information on Fuze Network's full suite of payment solution products, including the all-new Fuze BillPay Card, can be found by visiting www.fuzenetwork.com.  
About Fuze Network
Fuze Network is a payments technology company providing merchants and billers with dramatically low-cost options for their customers to find and make payments at over 17,000 banks and 100,000 retail locations nationwide. Founded by payment industry experts and driven by innovation, Fuze Network is dedicated to systematically changing the way bills can be paid, to the benefit of consumers as much as service providers, by injecting speed, simplicity, and convenience into the process. Find more information at www.fuzenetwork.com or call 888-FUZE-TEAM (888-389-3832).
SOURCE Fuze Network, Inc.

MasterCard Board of Directors Announces .15 Regular Quarterly Dividend


PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Incorporated (NYSE: MA) today announced that its Board of Directors has declared a quarterly cash dividend to holders of shares of its Class A common stock and Class B common stock. The cash dividend of 15 cents per share will be paid on November 9, 2011 to holders of record of its Class A common stock and Class B common stock as of October 10, 2011.
About MasterCard Incorporated
MasterCard (NYSE: MA) is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Learn more at www.mastercard.com.

American Small Business Owners Continue to Hire and Plan Strategic Growth in the U.S. Market, Ink from Chase Survey Reveals


Survey Shows Continued Optimism Toward Hiring, Despite Economy
WILMINGTON, Del.--(BUSINESS WIRE)--Three-fourths (75 percent) of small businesses say they are adding positions despite the economy, up slightly from last year (72 percent), according to the Ink from Chase survey of CEOs of fastest growing U.S. small businesses. Demonstrating continued optimism toward reviving the U.S. economy, 67 percent of small businesses plan to expand into new U.S. markets as a key growth strategy. The data was released by Ink from Chase, the business card portfolio from Chase Card Services, a division of JPMorgan Chase & Co. (NYSE: JPM).

“Small to mid-sized growth companies continue to demonstrate remarkable resilience in spite of economic uncertainty. Their rock solid track record of growth underscores the importance these businesses have on net new job generation and contribution to our economy.”
This is the third consecutive year that Ink from Chase surveyed CEOs and senior executives on the prominent Inc. 500|5000 list of fastest growing U.S. small businesses about their outlook on the economy, employment, general growth, and productivity tools, including mobile applications and online tools and social media channels.
Specific findings from this year’s survey revealed that:
Small business owners plan to hire employees and invest in talent, despite the economy
  • Seventy-five percent say they are adding positions despite the economy (up from 72 percent in 2010 and from 49 percent in 2009)
  • Fourteen percent are hiring to upgrade talent
There is room for profit growth as small business owners plan U.S.-based growth strategy
  • Sixty-seven percent are planning to expand into new U.S. markets
  • Fifty-nine percent are planning to produce more revenue from existing customers
  • For fiscal year 2011 – 33 percent say their firms will exceed both revenue and profit goals, while 30 percent expect that they will meet their revenue/profit goals.
  • When asked “Three to six months from now – how do you think your business will be doing?” – the response was:
  • Fifty-one percent responded ‘Slightly better’
  • Twenty-three percent responded ‘Much better’
  • Twenty-one percent responded ‘About the same’
“We are inspired by the optimism shown by small business owners and their plans to grow, upgrade talent and hire, despite the current economic environment,” said Richard Quigley, president of Ink from Chase. “Ink from Chase will continue to focus on the fundamental financial needs of small business owners and providing them with the solutions they need to succeed.”
Inc. magazine President Bob LaPointe said, “Small to mid-sized growth companies continue to demonstrate remarkable resilience in spite of economic uncertainty. Their rock solid track record of growth underscores the importance these businesses have on net new job generation and contribution to our economy."
About Inc. and the Inc. 500|5000
Inc., the only major business magazine focused exclusively for CEOs of fast-growing, private companies, delivers real solutions for today’s innovative company builders. Inc. provides hands-on resources and market-tested strategies for managing people, finances, sales, marketing, and technology. The publication also looks beyond work to address the entrepreneurial lifestyle. Inc. inspires and informs, with cutting-edge coverage that reflects our readers' energy, brashness, and imagination.
The Inc. 500|5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list of the nation's most successful private companies has become the hallmark of entrepreneurial success.
The Inc. 500|5000 Conference & Awards Ceremony is an annual event that brings the nation’s brightest, most successful business minds together to celebrate their remarkable achievements. In addition to an awards ceremony, the event offers informative workshops, celebrated keynote speakers and evening functions.
For more information on Inc. and the Inc. 500|5000 Conference, visit www.Inc.com.
Editor’s Note: The 2011 Inc. 5000 CEO Research Study queried members of the Inc. 500|5000 CEO e-mail database between September 9, 2011 and September 14, 2011, and received 390 total responses.
About Ink from Chase
Ink from Chase is a portfolio of business cards offering robust, flexible payment solutions and resources to meet the unique needs of small business owners, from spending habits to cash flow needs to rewards. This business card portfolio, which features Chase’s pay-in-full charge card (a first from issuers of Visa® or MasterCard®), includes the Ink Bold, Ink Plus, Ink Classic and Ink Cash cards.
In addition to offering small business owners powerful cards and services, Ink from Chase launched Jot SM, a mobile application and online solution which saves small business owners time by enabling them to easily track, categorize and organize business expenses immediately from their iPhone® and Android™ mobile devices or online.
All Ink cards are accepted worldwide at twice as many locations as American Express, giving small business owners a broader range of purchasing options and more opportunities to earn rewards – up to 25 percent more than American Express. Ink cards are supported by Chase’s 5,000 bank branches and their trusted staffs, and are designed to meet the individual needs of small business owners. Earlier this year, Chase raised its 2011 small business lending pledge to $12 billion from $10 billion in 2010. During the first six months of 2011, Chase provided credit to more than 150,000 small businesses in the United States. It also doubled its approved SBA lending and has made the most Small Business Administration loans to U.S. companies during the first half of SBA’s current fiscal year.

Mozido Announces Partnership with Kabbani Associates Targeting Money Service Businesses


DALLAS--(BUSINESS WIRE)--Mozido, (www.mozido.com), the cloud payment network that brings every mobile phone user into the financial ecosystem, announced today it has finalized an exclusive partnership with Kabbani Associates, leading experts on the payment and remittance industries, to bring mobile wallet solutions to Money Service Businesses. The objective of this partnership is to introduce Mozido’s mobile wallet services to the MSB community and provide traditional remittance companies with the advanced technology needed to bank their customers.
“I've known Nabil and Kabbani Associates for over 12 years and have the utmost respect for their organization. Kabbani Associates adds tremendous depth and experience to our global financial services team.”
Mozido has been offering a comprehensive suite of multi-channel payment and marketing solutions to the P2P, C2B and B2C markets for over a decade. They support numerous clients and have relationships with industry leaders such as Western Union and Moneygram. Their multi-channel payment solutions enable transfers to be completed from a PC, a POS device or a mobile phone. In addition, Mozido provides consumers access to value added services such as stored value, bill pay, airtime purchases, mobile minutes transfers, retail purchases, savings accounts and payroll deposits in addition to numerous marketing and analytics capabilities.
“We have chosen to partner with Kabbani Associates, due to their wide-ranging experience in remittances and their connections to MSBs globally. The remittance players are a natural fit for Mozido with their extensive relationships with the under-banked community, which will derive great benefits and cost savings from our technology platform,” said Gregory J. Corona, Mozido’s Chairman and CEO. “Mozido can help unlock unprecedented potential for remittance companies by enhancing the relationship that has been built over years of investing in their brand and customer base. Partnering will allow Mozido to further monetize these customers through a convenient integrated suite of essential services while increasing customer loyalty to the remittance brand,” said Nabil Kabbani, Founding Partner of Kabbani Associates.
Michael Liberty, Mozido’s Founder and Chairman of Mozido Global Strategic Initiatives added, “I've known Nabil and Kabbani Associates for over 12 years and have the utmost respect for their organization. Kabbani Associates adds tremendous depth and experience to our global financial services team.”
Mozido will be a sponsor in the upcoming 2012 International Money Transfer Conference being held in Miami and will showcase its unique offering in a private presentation session. Gregory J. Corona, Chairman & CEO of Mozido will be a featured speaker on the "Mobile Payments Day,” the first of its kind for this conference. Nabil Kabbani will make the keynote address and facilitate a panel discussion centered around the mobile money transfer industry.
About Mozido
Founded in 2007, Mozido is the leading provider of multichannel transaction services to retailers, mobile network operators and financial institutions. Mozido offers solutions that enable easy and secure transactions all from the convenience of a mobile phone, and without the need of a traditional bank account. For more information, visit www.mozido.com.
About Kabbani Associates
Kabbani Associates is a consultancy practice that seeks to increase the depth and breadth of financial services provided to the immigrant and under-banked communities. It also consults in P2P and the payments solution industry with particular focus on digital distribution and monetization. For more information on Kabbani Associates or Nabil Kabbani, visit http://www.linkedin.com/in/nabilkabbani.

Bottomline Announces Cross-Border Electronic Invoicing


Banks and Corporates Benefit from Improved Efficiencies and Working Capital Optimization
Sibos 2011
PORTSMOUTH, N.H.--(BUSINESS WIRE)--Bottomline Technologies (NASDAQ: EPAY) today announced it has gone live with a secure, real-time solution for sending and receiving invoices electronically via the global SWIFT network. E-invoicing presents a significant opportunity for banks and their corporate customers to streamline paper-laden processes and reduce costs while increasing visibility into the financial supply chain.
“This implementation demonstrates how collaboration between banks, their customers and industry providers can create true cross-border invoicing solutions utilizing standards supported by SWIFT, creating a win for all contributing parties. Banks who participate can create and sustain a competitive advantage and drive new revenue streams.”
UK-based Bottomline customer Spirax Sarco is leveraging Bottomline’s SWIFT Access Service to exchange e-invoices via SWIFT with a Finnish customer. This is the first time that the SWIFT network has been used for the automated exchange of invoices between buyer and supplier through their service providers. Unlike using SWIFT for payments, with the right service provider and banking partnerships, corporates who are not SWIFT members can leverage SWIFT’s new e-invoicing standards and network.
“Bottomline is uniquely positioned to facilitate e-invoicing,” said Eric Campbell, CTO. “This implementation demonstrates how collaboration between banks, their customers and industry providers can create true cross-border invoicing solutions utilizing standards supported by SWIFT, creating a win for all contributing parties. Banks who participate can create and sustain a competitive advantage and drive new revenue streams.”
Editorial Note: Bottomline will be exhibiting in booth #L117 at Sibos, Sept. 19-23, 2011 in Toronto. For more information or to arrange an on-site meeting, please contact Heather Bridges athbridges@bottomline.com or visit www.bottomline.com/sibos. Join Bottomline’s Marcus Hughes at 11:00 am today in Community Room 3 for “E-Invoicing – Banks and Non-Banks Pushing for Interoperability”.
About Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY) provides collaborative payment, invoice and document automation solutions to corporations, financial institutions and banks around the world. The company’s solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. Organizations trust these solutions to meet their needs for cost reduction, competitive differentiation and optimization of working capital. Headquartered in the United States, Bottomline also maintains offices in Europe and Asia-Pacific. For more information, visit www.bottomline.com.

Discover Financial Services Reports Third Quarter Net Income of $649 Million or $1.18 Per Diluted Share


Second Consecutive Quarter of Record Net Income
RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover Financial Services (NYSE: DFS) today reported net income of $649 million for the third quarter of 2011, as compared to $261 million for the third quarter of 2010.
“Management’s Discussion and Analysis of Financial Condition and Results of Operations”
Third Quarter Highlights
  • Discover card sales volume was an all-time record of $26.3 billion in the quarter, up 9% from the prior year.
  • Total loans grew 8% from the prior year to $54.1 billion and were up 3% from the prior quarter, with credit card loans up 2% from the prior year and 3% from the prior quarter.
  • The delinquency rate for credit card loans over 30 days past due continued to decline reaching a new record low of 2.43%. The credit card net charge-off rate declined to 3.85%.
  • Payment Services pretax income was $38 million. Transaction volume for the segment was $45 billion in the quarter, an increase of 15% from the prior year.
  • The company repurchased 8.4 million shares in the third quarter for $198 million.
“We achieved record results again this quarter as a result of further improvements in credit performance and record sales volume,” said David Nelms, chairman and chief executive officer of Discover. “In addition, we are very pleased to report the reemergence of year-over-year growth in Discover card receivables and continued strong growth in our personal loan and private student loan businesses. Our strong capital position has allowed us to continue to invest in growth. We also repurchased more than 8 million shares in the quarter."
Segment Results:
Direct Banking
Direct Banking pretax income of $1.0 billion in the third quarter of 2011 was a $614 million improvement from the third quarter of 2010. Pretax income included $24 million related to The Student Loan Corporation.
Discover card sales volume grew 9% from the prior year to a record $26.3 billion. The increase was driven by growth in spending from both new and existing customers, along with increased gas prices. Credit card loans grew year-over-year for the first time since the second quarter of 2009, up 2% from the prior year.
Total loans ended the quarter at $54.1 billion, up 8% compared to the prior year. Private student loans increased $3.8 billion, including the acquisition of $3.1 billion in loans in the first quarter of 2011, and personal loans increased $732 million. This was partially offset by the sale of $1.5 billion in federal student loans driven by last years announced decision to exit this business.
Net interest margin was 9.26%, up 10 basis points from the prior year and 11 basis points from the second quarter of 2011. Credit card yield was 12.46%, a decrease of 40 basis points from the prior year and 11 basis points from the prior quarter. The decline in credit card yield reflects the impacts of the CARD Act, an increase in promotional rate balances, and an increase in customers who pay their balance in full, partially offset by lower interest charge-offs. Interest expense as a percent of total loans decreased 40 basis points from the prior year and 20 basis points from the prior quarter as the company continued to take advantage of available low rate funding.
Net interest income increased $90 million, or 8%, from the prior year, primarily driven by an increase in loan balances related to the student loan acquisition and lower interest expense. This was partially offset by a decrease in interest income on credit cards due to the lower yield.
The delinquency rate for credit card loans over 30 days past due continued to decline from the prior quarter to another all-time low of 2.43%, an improvement of 196 basis points from the prior year, and 36 basis points from the prior quarter. The credit card net charge-off rate decreased to 3.85% for the third quarter of 2011, down 388 basis points from the prior year and 116 basis points from the prior quarter.
Provision for loan losses of $100 million decreased $613 million, or 86%, from the prior year, driven by lower charge-offs and a reduction in the allowance for loan losses. Principal charge-offs decreased $441 million from the prior year, as a result of the continued decline in delinquencies in 2011. In addition, improvement in the outlook for credit performance resulted in a reserve release of $359 million in the third quarter of 2011, versus a release of $187 million in the third quarter of 2010.
Other income decreased $15 million, or 3%, from the prior year. The third quarter of 2010 included a $20 million gain related to the liquidation of the company’s Golden Key investment. An increase in net discount and interchange was offset by a decline in late fee income.
Expenses were up $74 million, or 14%, from the prior year, reflecting increased compensation costs, expenses related to The Student Loan Corporation, and investments in growth initiatives.
Payment Services
Payment Services pretax income of $38 million in the quarter was up $1 million, or 3%, from the prior year driven principally by a $3 million increase in revenues partially offset by a $2 million increase in expenses. The increase in revenue was primarily driven by an increase in transactions on the PULSE network and higher margins. The increase in expenses reflects investments related to enhancing infrastructure.
Payment Services dollar volume was $45 billion for the third quarter, up 15% from the prior year, driven by higher PULSE, Diners Club International and third-party issuer volume. The number of transactions on the PULSE network increased 8%.
Conference Call and Webcast Information
The company will host a conference call to discuss its third quarter results on Thursday, Sept. 22, 2011, at 10:00 a.m. Central time. Interested parties can listen to the conference call via a live audio webcast at http://investorrelations.discoverfinancial.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. For more information, visitwww.discoverfinancial.com.
A financial summary follows. Financial, statistical, and business related information, as well as information regarding business and segment trends, is included in the financial supplement filed as Exhibit 99.2 to the company’s Current Report on Form 8-K filed today with the Securities and Exchange Commission (“SEC”). Both the earnings release and the financial supplement are available online at the SEC’s website (http://www.sec.gov) and the company’s website (http://investorrelations.discoverfinancial.com).

Dynamics Wins Best of Show at FinovateFall 2011 as Industry Votes for Dynamics’ Chip and Choice™ Technology to Fix Crippling EMV Flaw in Europe


Dynamics Wins Finovate Best of Show For Second Year in a Row
Finovate Fall 2011
PITTSBURGH--(BUSINESS WIRE)--Dynamics Inc., an innovator in next-generation payment cards, won Best of Show of FinovateFall 2011 in New York City for the second year in a row, this time with its Chip and Choice™ technology.

Introduced this week as an immediate remedy for EMV’s critical software fragmentation problems, Dynamics’ Chip and Choice™ technology includes two chips – a secure, embedded chip and an exposed chip. A user can select different payment options by pressing different buttons on the card. Dynamics’ secure, embedded chip then writes a different, temporary chip profile into the exposed chip based on the user’s selection. In doing so, a user can select and use different payment applications even with readers that do not support such applications. This level of flexibility, unique to Dynamics payments cards, negates the needs for costly infrastructure updates in order to deliver powerful new functionality to merchants, networks, card issuers, and consumers.
Dynamics Chief Executive Officer Jeff Mullen said, “Dynamics is humbled to win Best of Show at Finovate for the second year in a row. The award validates our position as the only technology-agnostic innovator in payments. With our first Best of Show win a year ago we revolutionized magnetic stripe payment technology in the United States. Now we are revolutionizing EMV chip technology in Europe with our second win.”
Mullen continued, “After 15 years of EMV deployment in Europe, 63% of European magnetic stripe cards and 83% of European magnetic stripe point-of-sale terminals are also EMV chip enabled. To realize new payment applications in Europe, the software in each reader must be updated. Europe, however, cannot wait the 8-10 years needed to fully upgrade terminals each time a new payments application is desired by a consumer. With Chip and Choice™, Dynamics’ fixes one of EMV’s most significant flaws and, in the process, dramatically accelerates the ability for European banks to deploy new payment applications.”
Finovate is the industry’s launch pad for financial technology innovation. Best of Show is determined by a vote from the event’s attendees. Approximately one thousand industry decision makers attended the event. Sixty three companies demonstrated new technology at the event.
Dynamics’ award-winning Electronic Stripe®, the world’s first fully card-programmable magnetic stripe, is also included on the card. As nearly 100% of European point-of-sale terminals have magnetic stripes, but only 83% of European POS terminals are chip enabled, the Electronic Stripe® can be utilized to convey the user’s selection for any purchase at any terminal. Accordingly, when a user presses a button on the card, information associated with the user’s selection is also written onto the Electronic Stripe®.
For example, a user can use the buttons on his/her card to select to pay for a purchase with credit or to pay for a purchase with rewards. The user can swipe the card at a magnetic stripe terminal and information regarding the user’s selection may be communicated through the Electronic Stripe®. If the user inserts the card at a chip-enabled terminal, the card will communicate the user’s selection through Dynamics’ Chip and Choice™ technology.
Dynamics’ Chip and Choice™ and Electronic Stripe® technology can be utilized in any country with EMV penetration. For example, Dynamics’ Chip and Choice™ may be utilized in the 40% of Asia Pacific’s point-of-sale terminals that are chip enabled and Dynamics’ Electronic Stripe™ technology may be utilized in the near 100% of Asia Pacific’s point-of-sale terminals that have magnetic stripe readers. Dynamics’ technology provides cardholders in all markets with new, advanced capabilities and a more meaningful and seamless payments experience.
About Dynamics Inc.
Dynamics Inc. was founded and seeded in 2007 by Jeff Mullen, its President and CEO. Dynamics produces and manufactures intelligent powered cards such as advanced payment cards. Focused on introducing fast-cycle innovation to top card issuers, the company's first commercial application is the world's first fully card-programmable magnetic stripe for use in next-generation payment cards. The company has won many of the world's most prestigious international business plan competitions, including the Rice Business Plan Competition, Carnegie Mellon McGinnis Venture Competition and the University of San Francisco Business Plan Competition. The company won DEMOgod and the $1M People's Choice Award at DEMO Fall 2010 and Best of Show at FinovateFall 2010. In January, the company won Best in Show at the 2011 International CES for Personal Electronics. Dynamics has closed a $5.7M Series A round led by Adams Capital Management and a $35M Series B round led by Bain Capital Ventures. Dynamics is headquartered in Pittsburgh, Pa. More information on the company, its technology and applications can be found at www.poweredcards.com.

Blackhawk Network and NetSpend Announce Prepaid Card Distribution Partnership



Source: NetSpend Holdings, Inc.
Date: September 20, 2011 08:00 ET

Consumers to be Offered Convenience of Purchasing NetSpend Visa(R) Prepaid Cards at Top Grocery Stores Within the Blackhawk Prepaid Network

Logo
"We are proud to once again be distributing our GPR card through Blackhawk and are very excited about our renewed partnership. The NetSpend card will initially be available in more than 3,000 locations with the potential in the future to expand to significantly more," said Dan Henry, Chief Executive Officer of NetSpend.

"We are thrilled about this opportunity to grow our retail footprint."This distribution agreement will expand NetSpend's partnership with Blackhawk Network. NetSpend customers are currently able to reload their NetSpend prepaid cards by purchasing a REloadit pack at any retail location within Blackhawk's REloadit Network. The REloadit pack, currently priced at $3.95, is featured at these locations on dedicated displays with multiple facings and signage.

"Our distribution partnership with NetSpend provides customers with even more convenient access to the alternative payment products they depend on," said Talbott Roche, president, Blackhawk Network. "We are proud to partner with NetSpend in providing consumers with simple and safe financial solutions in conducting their every day banking."


About NetSpend
NetSpend is a leading provider of general-purpose reloadable (GPR) prepaid debit cards and related financial services to the estimated 60 million underbanked consumers in the United States who do not have a traditional bank account or who rely on alternative financial services. The Company's mission is to develop products and services that empower underbanked consumers with the convenience, security and freedom to be self-banked. Headquartered in Austin, Texas, NetSpend is traded on the NASDAQ stock exchange under the symbol NTSP.
The NetSpend Holdings, Inc. logo is available athttp://www.globenewswire.com/newsroom/prs/?pkgid=8154
Please visit http://www.netspend.com for more information.
Follow NetSpend on Twitter: http://twitter.com/netspend or Facebook:http://www.facebook.com/netspend.


About Blackhawk Network
Blackhawk Network, a subsidiary of Safeway Inc., is a leading provider of prepaid and financial payments products for consumers and businesses. The company's Gift Card Mall™ offers the industry's most popular prepaid gift card and telecom products. Gift Card Mall reaches more than 165 million people each week through an exclusive network of leading grocery, big box, convenience, drug, and specialty stores and is available through Internet retailers including GiftCardMall.com. Blackhawk Network's business solutions include reward and incentive programs that offer choice and flexibility through a wide array of card brands, custom designed Visa® prepaid cards and fulfillment options.
Headquartered in Pleasanton, California, Blackhawk Network Inc. has offices in the United States, Australia, Canada, France, Mexico and the United Kingdom. For more information about Blackhawk Network visit www.blackhawknetwork.com and www.giftcardmall.com

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