PCI Security Standards Council Announces Program Highlights for Annual Community Meetings

July 22, 2011 10:26 AM Eastern Daylight Time 

Offers PCI community opportunity to share best practices and feedback; examine new technologies and how they can aid payment security efforts—

WAKEFIELD, Mass. & LONDON--(BUSINESS WIRE)--The PCI Security Standards Council (PCI SSC), a global, open industry standards body providing management of the Payment Card Industry Data Security Standard (PCI DSS), PIN Transaction Security (PTS) requirements and the Payment Application Data Security Standard (PA-DSS), today announced further details on sessions planned for its annual Community Meetings.

“This is a critical year for all stakeholders, as we move toward adoption of PCI DSS 2.0 and investigate new technologies”

According to the 2011 Verizon Data Breach Investigations Report, 2010 saw a significant decrease in total data records breached compared to previous years, pointing to a growing awareness of the importance of securing payment card data. While approaches to payment security continue to mature, persistent threats and data compromise incidents underscore the ongoing need for strong security programs addressing people, processes and technology. Organizations need to ensure that they have adequate security measures in place to address tomorrow’s threats.

Against this backdrop, global leaders in payment data security will gather in Scottsdale, Arizona on Sept. 20-22 and in London on October 17-19 at the PCI Security Standards Council (PCI SSC) Community Meetings to examine the protections afforded by the PCI Security Standards; discuss the challenge and potential of the latest in payment technologies; and provide critical feedback to continue to evolve the standards to address the changing threat climate.

At the 2011 PCI Community Meetings, the 3-day program will include the latest in breaking forensics, security trends and technology from expert keynote speakers; SSC updates on the global state of PCI and technologies such as: point-to-point encryption, mobile payments, virtualization and tokenization; as well as dedicated sessions providing guidance to those aiding in PCI assessments, including Approved Scanning Vendors (ASV), Qualified Security Assessors (QSA), and Internal Security Assessors (ISA).

New for this year, the program will also include:

• PCI in Practice Case Studies:
  Implementing long-term PCI compliance programs that build security into every day practices is critical to protecting payment card data, which is the focus of the PCI in Practice track. In this unique forum, merchants and acquirers will share their real-world successes and challenges in case study presentations.

• Creating a Security Lifecycle:
  This practical session will provide recommendations on how to plan ahead for PCI and build a security lifecycle into the business.

• Special Interest Group (SIG) Presentations:
  The PCI Security Standards Council’s Special Interest Groups (SIG’s) leverage PCI SSC Participating Organizations' (PO) valuable business and technical experiences to collaborate with the PCI SSC on any supporting guidance or special projects relating to the PCI Security Standards. A new process and guidelines for the SIG proposal and selection was recently introduced to foster greater community involvement, including presentation of SIG ideas at the annual Community Meetings. Participating Organizations may submit proposals for consideration by August 29, 2011 at the Council’s website: https://www.pcisecuritystandards.org/pdfs/PCI_SIG_Proposal.pdf

The full agendas for each meeting can be found at the Community Meeting website: https://www.pcisecuritystandards.org/communitymeeting/2011/

With the formal feedback period on the latest versions of the PCI Standards beginning in November, the Community Meetings include specific sessions geared toward soliciting feedback on each standard, as well as a number of open forums for providing input to the Council.

Attendees will also have the chance meet and ask questions of representatives from the world’s largest associations, card brands, financial institutions and peers from their own industry in this exclusive gathering of global payment security experts, with targeted activities like “Breakfast with the Brands” and networking opportunities such as “Tables for Six” that facilitate informal dinner conversation for those in the PCI community.

“This is a critical year for all stakeholders, as we move toward adoption of PCI DSS 2.0 and investigate new technologies,” said Bob Russo, general manager, PCI Security Standards Council. “I look forward to gathering as a community and hearing from the front lines about the latest in payment security, how we can better work together to ensure not only that our standards remain critical resources for protecting card data but also that organizations have what they need to implement and maintain strong security programs.”

The Council has scheduled several training courses during the week, including its recently launched PCI Awareness training. These offerings provide participants the opportunity to combine the value of peer to peer education at the Community Meeting with more formal training sessions, maximizing their time in Scottsdale and London.

The 2011 PCI SSC Community Meetings feature a Vendor Showcase for Participating Organizations, QSAs and ASVs to demonstrate their products and services, as well as a number of sponsorship opportunities.

For more information, or to register to attend, please visit the Community Meetings website: https://www.pcisecuritystandards.org/communitymeeting/2011/

Click to Tweet: PCI announces Community Meetings - I'm going! http://bit.ly/gtibfM

Are you attending? Get a head start on networking at the event and RSVP on LinkedIn to connect with others participating in this year’s meetings:

North America Community Meeting: http://linkd.in/jEw5jP

European Community Meeting: http://linkd.in/raDh0z

About the PCI Security Standards Council

The PCI Security Standards Council is an open, global forum that is responsible for the development, management, education, and awareness of the PCI Data Security Standard (PCI DSS) and related standards that increase payment data security. Founded in 2006 by the major payment card brands American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc., the Council has more than 600 Participating Organizations representing merchants, banks, processors and vendors worldwide. To learn more about playing a part in securing payment card data globally, please visit: http://pcisecuritystandards.org.

Alliance Data Reports Record Second-Quarter 2011 Results

Raises 2011 Guidance

DALLAS, July 21, 2011 /PRNewswire/ -- Alliance Data Systems Corporation (NYSE: ADS), a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced results for the quarter ended June 30, 2011.

CONSOLIDATED RESULTS

Revenue increased 11 percent to $740 million and adjusted EBITDA increased 15 percent to $239 million for the second quarter of 2011. Net income per diluted share (EPS) increased 43 percent to $1.19, and core earnings per diluted share (core EPS) increased 27 percent to $1.75 for the second quarter of 2011, exceeding the Company's guidance of $1.60.

Diluted shares outstanding were 58.1 million for the second quarter of 2011, an increase of 1.3 million dilutive shares as compared to the second quarter of 2010. The assumed conversion of the Company's convertible senior notes and warrants, which varies based on the average per share price of the Company's common stock, added approximately 6.2 million to the diluted share count for the quarter ended June 30, 2011, an increase of 3.9 million compared to the second quarter of 2010. Of the assumed conversion shares, approximately 4.7 million shares for the quarter ended June 30, 2011 are covered by convertible note hedge agreements eliminating the Company's obligation to settle at maturity. Net repurchases of the Company's common stock reduced diluted shares outstanding by 2.6 million shares for the quarter ended June 30, 2011 partially mitigating the increase associated with the convertible senior notes and warrants.

Ed Heffernan, president and chief executive officer, commented, "During the second-quarter, we again delivered double-digit growth in revenue, adjusted EBITDA, and earnings-per-share reflecting continued momentum in all three business segments. Despite a sluggish economy, we are confident that our businesses will continue to perform well throughout 2011. As such, we are again raising core EPS guidance from $7.00 to $7.20 for the year."

Heffernan continued, "It has been a very productive second quarter and first half of 2011 as we have cleared many items from our plate. We completed major contract renewals with Victoria's Secret, Jean Coutu, and J.Crew. We signed new customers includingZale Canada and Sycle to long-term agreements and inked Banco do Brasil as an anchor sponsor to the dotz coalition program inBrazil. We achieved critical mass in our digital agency offering at Epsilon by acquiring Aspen Marketing Services. In addition, we expanded our international footprint by recently acquiring a minority ownership position in a leading loyalty marketing firm in India. Lastly, we bolstered our liquidity by closing on a new $1.6 billion credit facility at favorable market terms. With the bulk of our 2011 initiatives behind us, we are now focusing on 2012 and beyond."  

read entire release

Visa Inc. Board of Directors Declares Dividend

Image via CrunchBase

SAN FRANCISCO, July 22, 2011 /PRNewswire/ -- Visa Inc. (NYSE: V) announced that its Board of Directors had declared a quarterly dividend in the aggregate amount of $0.15 per share of class A common stock (determined, in the case of class B and class C common stock, on an as-converted basis) payable on September 7, 2011, to all holders of record of the Company's class A, class B and class C common stock as of August 19, 2011.

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 10,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visithttp://www.corporate.visa.com.

Global Payments Reports Fourth Quarter and Year End Earnings

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ATLANTA, July 21, 2011 /PRNewswire/ -- Global Payments Inc. (NYSE: GPN) today announced results for its fiscal fourth quarter and year ended May 31, 2011.  For the full year, revenues grew 13% to $1,859.8 million compared to $1,642.5 million in the prior fiscal year.  Normalized diluted earnings per share from continuing operations grew 9% to $2.77 compared to $2.54 in the prior year (See Schedule 2 for Normalized Earnings).  On a GAAP basis, the company reported fiscal 2011 full year diluted earnings per share from continuing operations of $2.61 compared to $2.52 in the prior year (See Schedule 1 for GAAP Consolidated Statements of Income).

For the fourth quarter, revenues grew 22% to $519.8 million compared to $425.1 million in the prior year.  Normalized diluted earnings per share from continuing operations grew 31% to $0.76 compared to $0.58 in the prior year quarter.  On a GAAP basis, the company reported fourth quarter diluted earnings per share from continuing operations of $0.72 compared to $0.56 in the prior year quarter.

Normalized fourth quarter and full year results exclude expenses related to certain start-up and duplicative costs for the company's Global Service Center in Manila, Philippines.  These results also exclude certain employee termination and relocation benefits.  (See Schedules 7 and 8 for Reconciliations of Normalized and Cash Earnings to GAAP).  

Chairman and CEO Paul R. Garcia stated, "We are pleased with our strong fiscal year 2011 financial performance which was driven by solid execution of our business strategy across our regions and the December 2010 addition of Spain.  We delivered exceptional results in the fourth quarter, driven by strong performance in North America and outstanding results in our International segment.  Our execution during fiscal 2011 established a basis from which we expect to drive margin expansion of as much as 30 basis points in fiscal 2012."  

David E. Mangum, Senior Executive Vice President and CFO, stated, "On a cash basis, the company reported fiscal 2011 fourth quarter and full year diluted earnings per share from continuing operations of $0.86 and $3.08, respectively, which represents 32% and 10% growth over the respective prior year periods.  

For the full year of fiscal 2012, the company expects annual revenue of $2,100 million to $2,150 million, or 13% to 16% growth over fiscal 2011.  The company expects annual fiscal 2012 diluted earnings per share on a cash basis of $3.35 to $3.43, reflecting 9% to 11% growth over fiscal 2011.  Annual fiscal 2012 GAAP diluted earnings per share is expected to be $3.02 to $3.09," said Mangum.

Cash earnings exclude normalized adjustments and acquisition intangible amortization expense from continuing operations.  (See Schedule 3 for Cash Earnings and Schedule 4 for Segment Information).

Conference Call

Global Payments will hold a conference call today, July 21, 2011 at 5:00 p.m. ET to discuss financial results and business highlights.  Callers may access the conference call via the company's Web site at www.globalpaymentsinc.com by clicking the "Webcast" button; or callers in North America may dial 1-888-895-3550 and callers outside North America may dial 1-706-758-8809.  The pass code is "GPN."  A replay of the call may be accessed through the Global Payments Web site through August 5, 2011.  

Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Europe, and the Asia-Pacific region.  Global Payments, a Fortune 1000 company, offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management.  Visit www.globalpaymentsinc.com for more information about the company and its services.

Square Who? Dwolla Shows the Power of Electronic Cash

While tech darling Square has been growing its mobile payments business at a rapid pace, it’s far from the only success story in the business. Over in Des Moines, IA, mobile payments start-up Dwolla is enjoying its own impressive growth and just hit $1 million in daily transactions, putting it on a faster initial pace than Square.  read more

Reasons you'll love Dwolla

It's Safe

When you use Dwolla you'll only send and receive money with other users, which have been through the same registration process. This protects you against fraud.

It's Fast

Dwolla's unique technology allows us to process money through your bank account as fast as anyone else in the world.

It's Secure

When sending and receiving money, you will never share personal information with other users. All pages and data movement in Dwolla are hosted on our own private servers.

It's Easy

Gain access to an easy to use and understand user interface. This interface allows you to effortlessly find transaction information and start populating your account information.

It's Mobile

Dwolla supports the following platforms:iOS, Android, and Windows 7 Phone. Use our Spots feature on your mobile device to find merchants that accept Dwolla near you!

It's Verified

We take your privacy and security very seriously. Dwolla is verified through both the TRUSTe and McAfee Secure services.

Google Introduces AdWords Credit Card

From Digital Trends...graphic by ePayment News

Google steps into the vendor financing arena and introduces and AdWords credit card to stimulate spending.

Google is introducing a new AdWords business credit card to some of the search engine’s U.S. clients. The card will have an ongoing rate of 8.99% and no annual fee, but customers will only be able to use their credit line to buy search advertising from Google. 

An exclusive Reuters report points out that the new AdWords credit card “marks Google’s first foray into the world of vendor financing.”  read more

Anywhere Commerce Leaves Home

The point-of-sale company has a new mobile mission.


Internet Retailer: Anywhere Commerce is the new name of HomeATM ePayment Solutions, a company that tried for years to promote a device that promised online retailers a way to lower the cost of accepting payment. The name change reflects the company’s new mission to capture mobile point-of-sale transactions, says Mitchell Cobrin, co-founder and CEO.

read  more

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• Merchants discovering Mobile Point-of-Sale Systems (pegasusadvisors.wordpress.com)

PayPal Surpasses 100 Million Registered Accounts, Reports First Billion Dollar Revenue Quarter

July 20, 2011 04:15 PM Eastern Daylight Time 

eBay Inc. Reports Strong Second Quarter 2011 Results

SAN JOSE, Calif.--(BUSINESS WIRE)--Global ecommerce and online payments leader eBay Inc. (Nasdaq:EBAY) today reported that revenue for the second quarter ended June 30, 2011, increased 25% to $2.8 billion, compared to the same period of 2010. The company recorded second quarter net income on a GAAP basis of $283.4 million, or $0.22 per diluted share, and non-GAAP net income of $630.9 million, or $0.48 per diluted share. In the second quarter GAAP net income decreased year over year compared to the second quarter of 2010 due to charges related to the GSI Commerce (GSI) transaction. The year-over-year increase in second quarter non-GAAP earnings per diluted share was driven by solid top-line growth and productivity.

“Second quarter revenue and earnings were strong, with PayPal surpassing 100 million active registered accounts and reporting its first billion-dollar revenue quarter, and eBay growth in the U.S. accelerating”

"Second quarter revenue and earnings were strong, with PayPal surpassing 100 million active registered accounts and reporting its first billion-dollar revenue quarter, and eBay growth in the U.S. accelerating," said eBay Inc. President and CEO John Donahoe. "We also strengthened our portfolio in Q2 with acquisitions that we believe will more broadly position us to enable the future of commerce. We will partner with retailers of all sizes to help them grow in a rapidly shifting, technology-driven multichannel commerce environment, and we will help consumers shop and pay anytime, anywhere, any way."

The company's PayPal business delivered strong second quarter performance, expanding its leadership position in global payments. PayPal ended the quarter with 100.3 million active registered accounts, a 15% increase year over year. PayPal's net total payment volume (TPV) grew 34% to $28.7 billion in the second quarter of 2011 compared to the same period of last year. PayPal delivered its first-ever billion dollar revenue quarter, driven by strong performance in its Merchant Services business as well as increased penetration on eBay. PayPal continued to demonstrate strength in mobile payments and now expects more than $3 billion in mobile TPV this year, compared to $750 million in 2010.

The company's Marketplaces business also delivered strong second quarter performance. Gross merchandise volume excluding vehicles (GMV), increased by 17% year over year to $14.7 billion. GMV in the U.S. increased 14% year over year, the third consecutive quarter of acceleration, driven by improved customer experiences in search and navigation. International GMV increased 19% year over year, resulting from stable growth in Europe and improved performance in Korea, as well as positive impacts from foreign currency movements. The Marketplaces business continued to drive innovation in key areas such as mobile, where downloads of eBay's portfolio of mobile applications surpassed 45 million globally since the launch of mobile in the third quarter of 2008. The company remains on track to double eBay's mobile GMV including vehicles to over $4 billion in 2011.

The company completed the acquisition of GSI, a leading provider of ecommerce and interactive marketing services, on June 17, 2011. GSI will operate as a stand-alone business unit. The GSI segment contributed $23.8 million to revenue for the period from June 17, 2011, to June 30, 2011.

Read the entire release here

Dynamics Inc. Reveals One of the Largest Patent Portfolios in Payments Industry

July 21, 2011 12:12 PM Eastern Daylight Time 

Over 150 Patents are Pending/Issued in the USPTO

PITTSBURGH--(BUSINESS WIRE)--Dynamics Inc., an innovator in next-generation payment cards, today revealed that it has quietly amassed one of the largest patent portfolios in the payments industry. Dynamics launched its award-winning Card 2.0® technology last fall, and its products are currently in consumer trials with several top multinational payment card issuers. To date, Dynamics has raised approximately $40.7 million in total funding with a Series A investment round led by Adams Capital Management and a Series B investment round led by Bain Capital Ventures.

“The speed at which Dynamics has grown its intellectual property portfolio and the increased frequency of filing applications indicates that Dynamics is just beginning to amass its intellectual property rights.“”

“Dynamics’ intellectual property protects not only Dynamics, but also Dynamics’ customer base. IP is a critical asset for any company designing, manufacturing, and deploying new payments technologies,” said Jeff Mullen, CEO Dynamics Inc. “The strength of Dynamics’ patent portfolio is a testament to the company’s unmatched innovation capability within the payments industry.”

Dynamics’ aggressive research and development programs support innovations in all areas of payments. Its intellectual property covers foundational technology in fields such as:

• Card-programmable magnetic stripe cards
• Exposed chip “EMV” cards
• RFID “contactless” cards
• Phone-based payment devices and topologies
• Next generation backend processing schemes
• Portable and stationary payment terminals
• Consumer electronic architectures and manufacturing techniques
• Printing/lamination/personalization methodologies and systems
• Next-generation form-factor agnostic payment applications such as reward redemption, coupon redemption, payment options, enhanced security methodologies, merchant funded promotions

Dynamics’ intellectual property portfolio also covers dozens of additional disruptive stealth payment technologies that will serve as a basis for the company’s continued fast-cycle deployments in the U.S. and abroad.

“As a relatively young company, Dynamics is executing an intellectual property program usually reserved for only the largest consumer technology companies,” said Joel Lutzker, managing director and general counsel, Ocean Tomo. “The speed at which Dynamics has grown its intellectual property portfolio and the increased frequency of filing applications indicates that Dynamics is just beginning to amass its intellectual property rights.“

Dynamics currently employs three patent attorneys, including Mullen himself, who spent seven years as a patent agent/attorney for world-renowned IP boutique Fish & Neave LLP, which later became the Fish & Neave IP Group of Ropes & Gray LLP. At Fish & Neave, Mullen managed some of the largest consumer electronics patent portfolios in the world and prosecuted and litigated patents in many areas of technology. Dan Gantt, Dynamics’ General Counsel, has more than 30 years of intellectual property management and litigation experience.

“Intellectual property is so important these days that many industries now have CEOs that are deeply involved in IP issues,” according to Robert Morris, partner, Kramer Levin. “Jeff worked with me at Fish & Neave. His expertise is positioned exactly at the nexus of technology, business, and law, and his deep ability to grasp how all of these competencies interact further strengthens Dynamics as a game-changing payments company that much more.”

Having filed for its first patent in 2005, Dynamics has built one of the largest patent portfolios in payments through a comprehensive strategy that takes advantage of a number of rules within the United States Patent and Trademark Office. Accordingly, while only approximately 40 pending/issued patents are publicly viewable, Dynamics’ patent portfolio actually includes over 150 pending/issued patents.

In addition to an industry-defining domestic patent portfolio, Dynamics also has a strong international patent portfolio as well as numerous trademarks, copyrights, and trade secrets.

A partial listing of Dynamics’ intellectual property can be found at www.poweredcards.com.

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.

About Ocean Tomo, LLC

Established in 2003, Ocean Tomo, LLC, is the leading Intellectual Capital Merchant Banc™ firm. The company provides financial products and services related to Intellectual Property, including expert testimony, valuation, research, ratings, investments, risk management and transactions. Ocean Tomo assists clients – corporations, law firms, governments and institutional investors – in realizing Intellectual Capital Equity® value broadly defined.

Headquartered in Chicago, Ocean Tomo has offices in Boston, Greenwich, Houston, Orange County, Paris, and San Francisco. Subsidiaries of Ocean Tomo include: Ocean Tomo Risk Management, LLC; Ocean Tomo Asset Management, LLC; OTI Data Networks, LLC; Patent Marking, LLC; and Ocean Tomo Capital, LLC – publisher of the Ocean Tomo 300® Patent Index family. Ocean Tomo is the founder and majority owner of the Intellectual Property Exchange International (IPXI), Inc. as well as the exclusive licensee and distributor of PatentRatings® system.