The Mutation of Threats Against Corporate Online Banking Customers

April 16, 2010 06:03 AM Eastern Daylight Time  

Research and Markets: The Mutation of Threats against Corporate Online Banking Customers

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/f86405/the_mutation_of_th) has announced the addition of the "The Mutation of Threats against Corporate Online Banking Customers" report to their offering.

“The Mutation of Threats against Corporate Online Banking Customers”

The number of attacks targeting companies has increased over several years to reach an unprecedented level in 2009. Modus operandi have evolved: payment systems for professionals are more and more targeted and associated prejudices reach hundreds of thousands of Euros.

This report shall examine the specific risks impacting business banking clientele - risks that often have direct or indirect repercussions on the banking institution as well.

Indeed, over the past two years, cybercrooks have substantially innovated in terms of business fraud, combining traditional scams with increasingly numerous technical means (particularly with the help of targeted Trojans). Todays targeted scams are a subtle weaving of social engineering and technical intrusion, with the aim of confiscating company trade secrets or, more often than not, draining company bank accounts. The latest developments concerning payment systems (the ACH Network, the SEPA area) have also created significant windows of opportunity for hackers.

In this report, we shall also take another look at the stock spam phenomenon that seems to have lost steam over the past few years. Nonetheless, certain evidence leads us to believe that this type of spam could develop in the near future into considerably more cunning and highly targeted forms.

Our recommendation to banks is to adapt business banking management to the level of risk that this clientele represents: first, by providing special training to staff dealing with business clientele, and second, by tuning authentication methods and fraud detection systems to the level of banking transactions carried out by businesses.

Key Topics Covered:

1. Distinctions from individual customers

2. Means of payment theft

3. New forms of fraud

4. Other specific risk

5. Recommendations

For more information visit http://www.researchandmarkets.com/research/f86405/the_mutation_of_th

Contacts

Research and Markets

Laura Wood, Senior Manager,

press@researchandmarkets.com

U.S. Fax: 646-607-1907

Fax (outside U.S.): +353-1-481-1716

Permalink: http://www.businesswire.com/news/home/20100416005324/en/Research-Markets-Mutation-Threats-Corporate-Online-Banking

The Mutation of Threats Against Corporate Online Banking Customers

April 16, 2010 06:03 AM Eastern Daylight Time  

Research and Markets: The Mutation of Threats against Corporate Online Banking Customers

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/f86405/the_mutation_of_th) has announced the addition of the "The Mutation of Threats against Corporate Online Banking Customers" report to their offering.

“The Mutation of Threats against Corporate Online Banking Customers”

The number of attacks targeting companies has increased over several years to reach an unprecedented level in 2009. Modus operandi have evolved: payment systems for professionals are more and more targeted and associated prejudices reach hundreds of thousands of Euros.

This report shall examine the specific risks impacting business banking clientele - risks that often have direct or indirect repercussions on the banking institution as well.

Indeed, over the past two years, cybercrooks have substantially innovated in terms of business fraud, combining traditional scams with increasingly numerous technical means (particularly with the help of targeted Trojans). Todays targeted scams are a subtle weaving of social engineering and technical intrusion, with the aim of confiscating company trade secrets or, more often than not, draining company bank accounts. The latest developments concerning payment systems (the ACH Network, the SEPA area) have also created significant windows of opportunity for hackers.

In this report, we shall also take another look at the stock spam phenomenon that seems to have lost steam over the past few years. Nonetheless, certain evidence leads us to believe that this type of spam could develop in the near future into considerably more cunning and highly targeted forms.

Our recommendation to banks is to adapt business banking management to the level of risk that this clientele represents: first, by providing special training to staff dealing with business clientele, and second, by tuning authentication methods and fraud detection systems to the level of banking transactions carried out by businesses.

Key Topics Covered:

1. Distinctions from individual customers

2. Means of payment theft

3. New forms of fraud

4. Other specific risk

5. Recommendations

For more information visit http://www.researchandmarkets.com/research/f86405/the_mutation_of_th

Contacts

Research and Markets

Laura Wood, Senior Manager,

press@researchandmarkets.com

U.S. Fax: 646-607-1907

Fax (outside U.S.): +353-1-481-1716

Permalink: http://www.businesswire.com/news/home/20100416005324/en/Research-Markets-Mutation-Threats-Corporate-Online-Banking

Finovate Headed to Europe in 2011

Finovate is Headed to Europe in February 2011

By Eric Mattson on 2010/04/15 22:04 Eastern Daylight Time



It's a week for big news around our Finovate conference series. On Tuesday, we announced the expansion of FinovateFall 2010 to two days. And today, I'm thrilled to share the news that we'll be holding the first international Finovate conference early next year in London.



On February 1, 2011, FinovateEurope will showcase the best new innovations in banking, payments & financial technology at the historic Business Design Centre. The event, like all Finovates, will mix fast-paced demos (no slides allowed) from handpicked fintech companies with high-quality networking. It's a potent blend that has won rave reviews from thousands of bankers, venture capitalists, entrepreneurs, analysts, and press over the last several years.



Since the first Finovate in 2007, we've been lucky enough to host a number of innovative presenters with European roots (Zopa, Backbase, MoBank, Wonga, etc) and attendees (BBVA, HSBC, Barclays, Deutsche Bank, ING Direct, etc) at our U.S. conferences and they've always brought great insights and a global perspective. A whole event focused on fintech innovation in financial capital of Europe is going to be amazing.



We've released a small number of special "founder" tickets with a discount of £400. Register now to get yours before they run out and lock in your spot to see the future of European (and global fintech) debut live on stage next February!



P.S. If you're interested in potentially doing a demo of your newest fintech innovation next February in London, please email us at demo@finovate.com.

---

Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at eric@netbanker.com

Finovate Headed to Europe in 2011

Finovate is Headed to Europe in February 2011

By Eric Mattson on 2010/04/15 22:04 Eastern Daylight Time



It's a week for big news around our Finovate conference series. On Tuesday, we announced the expansion of FinovateFall 2010 to two days. And today, I'm thrilled to share the news that we'll be holding the first international Finovate conference early next year in London.



On February 1, 2011, FinovateEurope will showcase the best new innovations in banking, payments & financial technology at the historic Business Design Centre. The event, like all Finovates, will mix fast-paced demos (no slides allowed) from handpicked fintech companies with high-quality networking. It's a potent blend that has won rave reviews from thousands of bankers, venture capitalists, entrepreneurs, analysts, and press over the last several years.



Since the first Finovate in 2007, we've been lucky enough to host a number of innovative presenters with European roots (Zopa, Backbase, MoBank, Wonga, etc) and attendees (BBVA, HSBC, Barclays, Deutsche Bank, ING Direct, etc) at our U.S. conferences and they've always brought great insights and a global perspective. A whole event focused on fintech innovation in financial capital of Europe is going to be amazing.



We've released a small number of special "founder" tickets with a discount of £400. Register now to get yours before they run out and lock in your spot to see the future of European (and global fintech) debut live on stage next February!



P.S. If you're interested in potentially doing a demo of your newest fintech innovation next February in London, please email us at demo@finovate.com.

---

Eric Mattson is CEO of Online Financial Innovations, the parent company of NetBanker, Online Banking Report and the Finovate Conference Series. He can be reached at eric@netbanker.com

ROAM Data Introduces World's First Encrypted Audio Coupled Card Reader

ROAM Data Introduces World’s First Encrypted Audio Coupled Card Reader

Written by PR.com

Wednesday, 14 April 2010 08:01

Boston, MA, April 14, 2010 --(PR.com)-- ROAM Data, Inc., the leading mobile commerce service provider for merchants to transact with consumers on mobile phones, today announced at the ETA show in Las Vegas its innovative secure ROAMpay Swipe solution for merchants to process card-present swipe transactions on a variety of phone models, including the iPhone, Blackberry, Android and more. Leveraging its patented software solution and patent pending hardware reader technology, ROAM is delivering to market the world’s first encrypted card reader connected through the audio connection of mobile phones. Unlike other mobile phone based PO CircleSwipe is Manufactured by BBPOS Unlike other mobile phone based POS solutions that can only reach the iPhone or small numbers of smart phones, ROAMpay can reach hundreds of different phone models and on all carriers, to maximize penetration of end-users. Unlike other reader technologies, ROAMpay Swipe is fully encrypted at the device level, preventing it from being used for skimming, and is much more cost effective and universal across a broad array of phones. ROAMpay is truly the most scalable mobile commerce solution in the market. The ROAMpay mobile virtual terminal solution is already live and available for ISOs on major processors like Chase Paymentech and others, and the new ROAMpay Swipe readers, along with other Bluetooth printer/reader accessories, will be available to customers at the end of May, beginning of June. “Our goal is to deliver the most secure, cost effective, and scalable mobile commerce solutions for merchants to transact with their customers,” said Will Graylin, CEO and Founder of ROAM Data. “By giving them the option for a secure low cost reader, along with their rich virtual terminal across many phone models, ROAMpay has removed another barrier to help Merchant Service Providers penetrate the millions of small merchants and delivery fleets that otherwise would be out of reach of the traditional POS solutions.” Beyond turning cell phones into POS devices, ROAM’s patented innovation also enables it to dynamically deliver a variety of rich commerce applications for merchants to empower its mobile workforce or reach its best customers on their own mobile phones. “Mobile commerce is very complex, and we have built a system that makes it much easier,” said Graylin. ROAM Data recently partnered with Ingenico, North America to increase its visibility and distribution in the payment space. Ingenico and ROAM now offer the most innovative and merchant friendly mobile payment solutions in the market. ### Contact Information: ROAM Data, Inc Rob Stringer 857-254-2411 rstringer@roamdata.com www.roamdata.com Follow us on Twitter: RoamData Click here to read the full story: ROAM Data Introduces World’s First Encrypted Audio Coupled Card Reader Press Release Distributed by PR.com

ROAM Data Introduces World's First Encrypted Audio Coupled Card Reader

ROAM Data Introduces World’s First Encrypted Audio Coupled Card Reader

Written by PR.com

Wednesday, 14 April 2010 08:01

Boston, MA, April 14, 2010 --(PR.com)-- ROAM Data, Inc., the leading mobile commerce service provider for merchants to transact with consumers on mobile phones, today announced at the ETA show in Las Vegas its innovative secure ROAMpay Swipe solution for merchants to process card-present swipe transactions on a variety of phone models, including the iPhone, Blackberry, Android and more. Leveraging its patented software solution and patent pending hardware reader technology, ROAM is delivering to market the world’s first encrypted card reader connected through the audio connection of mobile phones. Unlike other mobile phone based PO CircleSwipe is Manufactured by BBPOS Unlike other mobile phone based POS solutions that can only reach the iPhone or small numbers of smart phones, ROAMpay can reach hundreds of different phone models and on all carriers, to maximize penetration of end-users. Unlike other reader technologies, ROAMpay Swipe is fully encrypted at the device level, preventing it from being used for skimming, and is much more cost effective and universal across a broad array of phones. ROAMpay is truly the most scalable mobile commerce solution in the market. The ROAMpay mobile virtual terminal solution is already live and available for ISOs on major processors like Chase Paymentech and others, and the new ROAMpay Swipe readers, along with other Bluetooth printer/reader accessories, will be available to customers at the end of May, beginning of June. “Our goal is to deliver the most secure, cost effective, and scalable mobile commerce solutions for merchants to transact with their customers,” said Will Graylin, CEO and Founder of ROAM Data. “By giving them the option for a secure low cost reader, along with their rich virtual terminal across many phone models, ROAMpay has removed another barrier to help Merchant Service Providers penetrate the millions of small merchants and delivery fleets that otherwise would be out of reach of the traditional POS solutions.” Beyond turning cell phones into POS devices, ROAM’s patented innovation also enables it to dynamically deliver a variety of rich commerce applications for merchants to empower its mobile workforce or reach its best customers on their own mobile phones. “Mobile commerce is very complex, and we have built a system that makes it much easier,” said Graylin. ROAM Data recently partnered with Ingenico, North America to increase its visibility and distribution in the payment space. Ingenico and ROAM now offer the most innovative and merchant friendly mobile payment solutions in the market. ### Contact Information: ROAM Data, Inc Rob Stringer 857-254-2411 rstringer@roamdata.com www.roamdata.com Follow us on Twitter: RoamData Click here to read the full story: ROAM Data Introduces World’s First Encrypted Audio Coupled Card Reader Press Release Distributed by PR.com

Roam Data Talks Mobile Payments

Business Solutions Interviews Roam Data

Roam Data Talks Mobile Payments

April 15, 2010

Roam Data was at the ETA Annual Meeting and Expo in Las Vegas showcasing its device- and carrier-agnostic solution that enables payments to be easily managed and run on virtually any mobile phones (from simple Java phones, to Blackberries, WinMobile, Android devices, etc.). Additionally, full payment gateway capabilities can provide payments of all kinds, from Credit and Debit Card processing, Electronic Check capture, ACH funds transfer, to Prepaid Debit and Gift Card processing.

Note the devices handing from the neck of Rob Stringer from Roam Data.  RoamPay will utilize the CircleSwipe technology to enhance security by providing 3DES Encryption of the Track 2 data.  Roam Pay customers will enjoy "card present" rates on transactions conducted via their mobile.  

Details forthcoming...

Roam Data Talks Mobile Payments

Business Solutions Interviews Roam Data

Roam Data Talks Mobile Payments

April 15, 2010

Roam Data was at the ETA Annual Meeting and Expo in Las Vegas showcasing its device- and carrier-agnostic solution that enables payments to be easily managed and run on virtually any mobile phones (from simple Java phones, to Blackberries, WinMobile, Android devices, etc.). Additionally, full payment gateway capabilities can provide payments of all kinds, from Credit and Debit Card processing, Electronic Check capture, ACH funds transfer, to Prepaid Debit and Gift Card processing.

Note the devices handing from the neck of Rob Stringer from Roam Data.  RoamPay will utilize the CircleSwipe technology to enhance security by providing 3DES Encryption of the Track 2 data.  Roam Pay customers will enjoy "card present" rates on transactions conducted via their mobile.  

Details forthcoming...

Roam Data to Use CircleSwipe for RoamPay

ROAM will be presenting the ROAMpay solution at ETA. Swing by Booth #845 to see some live demos. ROAMpay is a white-label mobile payment solution geared towards ISOs and Resellers. ROAMpay allows existing merchants to accept credit cards on their mobile phones and PC/Macs.

ROAM will be unveiling a new bluetooth swiper/printer and an audio swiper (CircleSwipe) at ETA that works with ROAMpay. ROAMpay currently works on hundreds of phones with new phones added weekly.

• FOR DOWNLOAD


• ROAMpay Brochure

Contact: stufullerton@roamdata.com or call 512.415.5748.

2010 ETA Annual Meeting & Expo | visit site

April 13 - 15, 2010

Mandalay Bay Resort & Casino, Las Vegas, NV

Booth #845

ETA's Annual Meeting & Expo, held each Spring in Las Vegas, NV, is the premiere event in the payments industry. Every year, nearly 3,000 attendees take part in activities in and around the Annual Meeting, including educational programs, the Expo and social events.

Roam Data to Use CircleSwipe for RoamPay

ROAM will be presenting the ROAMpay solution at ETA. Swing by Booth #845 to see some live demos. ROAMpay is a white-label mobile payment solution geared towards ISOs and Resellers. ROAMpay allows existing merchants to accept credit cards on their mobile phones and PC/Macs.

ROAM will be unveiling a new bluetooth swiper/printer and an audio swiper (CircleSwipe) at ETA that works with ROAMpay. ROAMpay currently works on hundreds of phones with new phones added weekly.

• FOR DOWNLOAD


• ROAMpay Brochure

Contact: stufullerton@roamdata.com or call 512.415.5748.

2010 ETA Annual Meeting & Expo | visit site

April 13 - 15, 2010

Mandalay Bay Resort & Casino, Las Vegas, NV

Booth #845

ETA's Annual Meeting & Expo, held each Spring in Las Vegas, NV, is the premiere event in the payments industry. Every year, nearly 3,000 attendees take part in activities in and around the Annual Meeting, including educational programs, the Expo and social events.

April 15, 2010 09:00 AM Eastern Daylight Time 

Top 3 Israeli Banks Roll Out Customer Facing Voice Biometrics Technology by PerSay

Voice Biometrics is poised to become mainstream authentication technology for remote services and applications

CHICAGO--(BUSINESS WIRE)--Today at Genesys G-Force 2010, PerSay, the global leader in the research, development and deployment of Voice Biometric technology and products announced that it has successfully completed the deployment of its systems in the top three banks in Israel. Bank HaPoalim, Bank Leumi, and Discount Bank have all rolled out secure Voice Biometric applications to the public. Applications include PIN reset and PIN-less access to contact centers at Bank Poalim, self-service eBanking password reset and Real-Time Fraudsters Detection at Bank Leumi, and multi-factor authentication for phone based high-risk transactions at Discount Bank.

“Besides the efficiency we gained by eliminating authentication questions, we have significantly improved our service accessibility and customer experience”

In an interview broadcasted on national TV, Oren Hertz, Bank HaPoalim’s Contact Center Applications manager, stated that Voice Biometrics is indeed going to be the next big thing in contact center technology. “Besides the efficiency we gained by eliminating authentication questions, we have significantly improved our service accessibility and customer experience,” he added.

“With a monthly voluntary enrollment rate in the hundreds of thousands, there is no longer a question around the ability to deliver the unique values our Voice Biometrics technology offers to our clients,” noted Almog Aley-Raz, PerSay’s CEO. “The return on investment, enhanced security, and the significant improvement in customer service has already been validated. The fact that this technology can be applied across all communication channels without significant investment in hardware makes it a very attractive alternative for enterprises looking for multi-factor authentication and effective risk management.”

“This is a remarkable achievement and is a consequence of persistency and focus coupled with a unique multidisciplinary approach that takes into account the diversified stakeholders involved in large-scale Voice Biometrics deployments,” added Dr. Orna Berry, PerSay board member, former Chief Scientist of Israel and one of the country’s most respected Hi-Tech veterans. “In the next few years we expect this technology to serve most of the population in the industrial and developing countries, accessing remote services and applications over the phone, Internet, as well as mobile devices.”

PerSay’s cutting edge technology is gaining momentum around the world with financial services, telecom operators, healthcare service providers, large enterprises, and government agencies selecting its Voice Biometrics technology following competitive analysis. PerSay’s products are integrated with the leading IVR and CTI platforms such as Genesys, Cisco, Avaya, and IBM and are available through a growing network of global partners, resellers and system integrators, including IBM, Dimention Data, Huawei and others.

About PerSay

PerSay Ltd. (www.persay.com) is a leading provider of advanced biometric speaker verification products. PerSay’s technology relies on the biometric power of voice to verify a speaker’s identity. PerSay’s products have been deployed by leading financial services, telecom operators, healthcare providers, enterprises and law enforcement agencies worldwide. PerSay is a spin-off of Verint Systems Inc., with offices in Tel Aviv and New York, and a network of partners and system integrators worldwide.

Contacts

PerSay Ltd.

Shira Lotto

Marketing Communications Manager

+972 9 372 8619

shira.lotto@persay.com

Permalink: http://www.businesswire.com/news/home/20100415005768/en/Top-3-Israeli-Banks-Roll-Customer-Facing

April 15, 2010 09:00 AM Eastern Daylight Time 

Top 3 Israeli Banks Roll Out Customer Facing Voice Biometrics Technology by PerSay

Voice Biometrics is poised to become mainstream authentication technology for remote services and applications

CHICAGO--(BUSINESS WIRE)--Today at Genesys G-Force 2010, PerSay, the global leader in the research, development and deployment of Voice Biometric technology and products announced that it has successfully completed the deployment of its systems in the top three banks in Israel. Bank HaPoalim, Bank Leumi, and Discount Bank have all rolled out secure Voice Biometric applications to the public. Applications include PIN reset and PIN-less access to contact centers at Bank Poalim, self-service eBanking password reset and Real-Time Fraudsters Detection at Bank Leumi, and multi-factor authentication for phone based high-risk transactions at Discount Bank.

“Besides the efficiency we gained by eliminating authentication questions, we have significantly improved our service accessibility and customer experience”

In an interview broadcasted on national TV, Oren Hertz, Bank HaPoalim’s Contact Center Applications manager, stated that Voice Biometrics is indeed going to be the next big thing in contact center technology. “Besides the efficiency we gained by eliminating authentication questions, we have significantly improved our service accessibility and customer experience,” he added.

“With a monthly voluntary enrollment rate in the hundreds of thousands, there is no longer a question around the ability to deliver the unique values our Voice Biometrics technology offers to our clients,” noted Almog Aley-Raz, PerSay’s CEO. “The return on investment, enhanced security, and the significant improvement in customer service has already been validated. The fact that this technology can be applied across all communication channels without significant investment in hardware makes it a very attractive alternative for enterprises looking for multi-factor authentication and effective risk management.”

“This is a remarkable achievement and is a consequence of persistency and focus coupled with a unique multidisciplinary approach that takes into account the diversified stakeholders involved in large-scale Voice Biometrics deployments,” added Dr. Orna Berry, PerSay board member, former Chief Scientist of Israel and one of the country’s most respected Hi-Tech veterans. “In the next few years we expect this technology to serve most of the population in the industrial and developing countries, accessing remote services and applications over the phone, Internet, as well as mobile devices.”

PerSay’s cutting edge technology is gaining momentum around the world with financial services, telecom operators, healthcare service providers, large enterprises, and government agencies selecting its Voice Biometrics technology following competitive analysis. PerSay’s products are integrated with the leading IVR and CTI platforms such as Genesys, Cisco, Avaya, and IBM and are available through a growing network of global partners, resellers and system integrators, including IBM, Dimention Data, Huawei and others.

About PerSay

PerSay Ltd. (www.persay.com) is a leading provider of advanced biometric speaker verification products. PerSay’s technology relies on the biometric power of voice to verify a speaker’s identity. PerSay’s products have been deployed by leading financial services, telecom operators, healthcare providers, enterprises and law enforcement agencies worldwide. PerSay is a spin-off of Verint Systems Inc., with offices in Tel Aviv and New York, and a network of partners and system integrators worldwide.

Contacts

PerSay Ltd.

Shira Lotto

Marketing Communications Manager

+972 9 372 8619

shira.lotto@persay.com

Permalink: http://www.businesswire.com/news/home/20100415005768/en/Top-3-Israeli-Banks-Roll-Customer-Facing

April 14, 2010 05:49 PM Eastern Daylight Time  

Payment Data Systems Closes 2009 with Positive Changes

Reports 2009 Results

SAN ANTONIO--(BUSINESS WIRE)--Payment Data Systems (OTCBB:PYDS), an integrated electronic payments solutions provider, today announced the financial results for year ended December 31, 2009.

“Based on trends we are seeing for 2010, we anticipate that our business is approaching a cash flow positive situation. We plan to accomplish this goal through strict controls on expenses and growth of higher margin sales.”

Revenues for the year ended December 31, 2009 increased 7% to $3,218,674 from $3,001,487 in 2008. The increase of $217,187 was primarily due to increased card-based processing revenue from increased transaction volume. Operating loss improved by 46% to $941,670 for 2009 from $1,690,300 in 2008. Net loss for the year ended December 31, 2009 decreased to $803,526 from $944,617 in 2008, but the net loss for 2009 was $267,326 after adding back noncash stock-based compensation expenses of $536,200.

Highlights for the year ended December 31, 2009:

• We processed 29% more credit card transactions in 2009 as compared to 2008.


• We processed 11% more credit card dollar volume in 2009 as compared to 2008.


• Total assets increased 91% from $607,991 at December 31, 2008 to $1,162,869 at December 31, 2009.


• Cash and cash equivalents increased 447% from $103,428 at December 31, 2008 to $565,597 at December 31, 2009.


• We reported net income of $22,565 for Q3 of 2009 and a net loss of $53,712 for Q4 of 2009.

Michael Long, Chief Executive Officer of Payment Data Systems said, “Based on trends we are seeing for 2010, we anticipate that our business is approaching a cash flow positive situation. We plan to accomplish this goal through strict controls on expenses and growth of higher margin sales.”

Long continued, “As we move forward into 2010, we will continue to execute these tight expense controls until some of our new programs are implemented and take us to our goals of sustained positive cash flow and profitability. The greatest potential for achievement of positive cash flow and profitability are supported by our announced Redpack Mi Promesa card program which should be in general market availability around the first of June of this year, and implementation of our new Corporate Incentive Card programs which we are implementing now and will continue to do so for the next several quarters. We have several unannounced and contracted customers for merchant processing, prepaid card programs, and bill payment services that should generate revenues in the second quarter of 2010. If we assume these contracts produce revenue to the degree the companies have projected and our pipeline of new customers create the anticipated revenue opportunities, we believe 2010 should exceed the expectations we set for ourselves in the final quarters of 2009. We will continue to look at strategic opportunities to leverage our merchant processing, card programs, and bill payment into new market-leading technologies that we believe will be very attractive to today’s highly underserved unbanked and underbanked communities. Lastly, we encourage each of you to review our 10-K filed today in order to understand the challenges we face as we continue to strive towards profitability. We remain excited about our future.”

About Payment Data Systems, Inc.

Payment Data Systems is an integrated payment solutions provider to merchants and billers. The organization provides an extensive set of products to deliver world-class payment acceptance. Payment Data has solutions for merchants, billers, banks, service bureaus and card issuers. The strength of the company is its ability to offer specifically tailored solutions for card issuance, payment acceptance and bill payments.

For additional information, visit www.paymentdata.com. Contact Michael Long for Investor Relations information at 210-249-4040 or email at ir@paymentdata.com.

Website: http://www.paymentdata.com