12,279,616 Online Identity Records Were Lost in October 2011, According to the IdentityHawk Identity Breach Report

November 17, 2011 05:46 PM Eastern Time 

IdentityHawk’s October 2011 report accounted for 58 publicly known breaches. IdentityHawk members, armed with information, could take action to help “stop fraud before it starts”

NORWALK, Conn.--(BUSINESS WIRE)--IdentityHawk® reported 58 publicly known breaches in October compromising 12,279,616 online records. The results are part of the “breached institutions” listing from The IdentityHawk October 2011 Identity Breach Report. A Ponemon Institute Research Report, entitled "State of Web Application Security Survey" (February 2011) reported that 93% of organizations have been hacked at least once in the past two years.

According to Jeff Paradise, executive director of IdentityHawk, “Identity theft breaches are often initiated because identity thieves steal thousands of records in batches from major enterprises. In fact, in 2002; former White House Cyber Security Advisor, Richard Clarke warned us. He was quoted as saying to enterprises, ‘If you (enterprises) spend more on coffee than on IT security, you will be hacked. What’s more, you deserve to be hacked.’” http://news.cnet.com/2100-1001-840335.html

A data breach, according to the Identity Theft Resource Center (ITRC), is “an event in which an individual’s name plus Social Security Number (SSN), driver’s license number, medical record, or a financial record/credit/debit card is potentially put at risk – either in electronic or paper format.”

Unfortunately, Paradise continued, “Many organizations, a decade later, are still not spending enough and are not vigilant enough when it comes to protecting enterprise data. Yet, hackers have become more aggressive and sophisticated.”

Date         Breached Institution                       Records Lost

 3-Oct-11 Surrey and Sussex Healthcare NHS Trust 800

3-Oct-2011 Estate of James C. Graham M.D. Unknown

4-Oct-11 Poole NHS Trust 240

4-Oct-11 Association of School and College Leaders 100

5-Oct-11 Elections Alberta 153

5-Oct-11 Indiana University School of Optometry 757

6-Oct-11 London Care PLC Unknown

6-Oct-11 USPS Unknown

6-Oct-11 PESG Unknown

6-Oct-11 College of the Holy Cross 493

6-Oct-11 University of Georgia 18,931

7-Oct-11 James A. Haley Veterans Hospital Unknown

7-Oct-11 air pacific limited Unknown

7-Oct-11 First State Superannuation 568

7-Oct-11 Adult & Pediatric Dermatology (apderm) 2,000

8-Oct-11 Troy School District Unknown

10-Oct-11 Henry Ford Health System 520

10-Oct-11 St. Joseph Medical Center/Preferred Professional Insurance Co. Unknown

11-Oct-11 Chillliwack General Hospital (Canada) 27

11-Oct-11 Futurity First Insurance Group 582

11-Oct-11 Sony Corporation 93,000

13-Oct-11 Spectrum Health Services Inc. Unknown

14-Oct-11 Praxis Care Isle of Man 107

14-Oct-11 Social Security Administration 31,931

14-Oct-11 NEA Baptist Clinic 3,116

14-Oct-11 Chili’s Grill & Bar Restaurant Unknown

14-Oct-11 Financial Tracking Technologies LLC Unknown

15-Oct-11 San Antonio Independent School District Unknown

16-Oct-11 Ashley D. Bell Law Office Unknown

17-Oct-11 Metropolitan Police Service 105

19-Oct-11 Well United Methodist Church 40

19-Oct-11 Order & Chaos Online Unknown

20-Oct-11 Edge Hill University 798

20-Oct-11 Wells Fargo Unknown

22-Oct-11 Concordia Plan Services Unknown

23-Oct-11 Hazelton Community Ambulance Unknown

24-Oct-11 Guadalajara 2011 Organizing Committee Unknown

24-Oct-11 Ministry of Labor and Social Welfare 9,000,000

24-Oct-11 Cheaptickets.nl 715,000

25-Oct-11 United States Department of Education 5,000

25-Oct-11 Ocala Police Department 149

25-Oct-11 Mobile Telesystems (MTS) 1,600,000

25-Oct-11 Bloggtoppem.se 80,000

26-Oct-11 AW Urval 314

26-Oct-11 Indalex Inc. (Sapa AB) Unknown

26-Oct-11 Indigo Joe's Unknown

27-Oct-11 James A. Haley Veterans Hospital Unknown

27-Oct-11 Muir Orthopaedic Specialists 1,800

27-Oct-11 Mama’s Boy Italian Ristorante Unknown

27-Oct-11 Eaton Group Unknown

27-Oct-11 Vancouver Coastal Health Authority 450

27-Oct-11 University Hospitals Coventry & Warwickshire NHS Trust 18

28-Oct-11 United States Air Force (Yakota AFB - Japan) 593

28-Oct-11 Newcastle Youth Offending Team (UK) 110

29-Oct-11 Archangel Security Company 30

31-Oct-11 Banglatv.ca 1,517

31-Oct-11 hi5ads.com 5,067

31-Oct-11 British Columbia Ministry of Children and Family Development Unknown

TOTAL Records Lost: 12,279,616

MasterCard and Intel Decide to Put Contactless Readers in Laptops

MasterCard And Intel Want To Put Contactless Readers In Laptops—Maybe Even Soon Enough To Matter


Written by Frank Hayes for StorefrontBacktalk.com on  November 16th, 2011


E-Commerce has been depending on the trustworthiness of strangers for a long time—customers typing in what might easily be stolen payment-card numbers from thousands of miles away. That might be changing soon, and with a real advantage for E-tailers. On Monday (Nov. 14), MasterCard and Intel announced a push to install a contactless reader in laptops, so they’ll function as PayPass readers to take contactless payment cards—with a lot less trust required.

A MasterCard spokesman, Brian Gendron, wouldn’t commit to the card brand accepting such transactions as “card present,” at least not at this point. It’s early—MasterCard and Intel expect to get all the authentication issues nailed down by 2012, with actual payments by laptop-owning online shoppers starting shortly thereafter. But anything that uses built-in hardware to close the gulf between the retailer and the physical card should help push interchange rates down.

The MasterCard/Intel effort wouldn’t be the first try at bridging that gap. The idea is something like the PC keyboards with a built-in card-swipe slot, except with a tap instead of a swipe and the improved security designed into contactless cards. That should give the laptop a much better chance at confirming that a bona fide card (or mobile-wallet-equipped phone) has been used on the far end of the wire, especially because a card brand is behind the effort.

Read more: http://storefrontbacktalk.com/securityfraud/mastercard-and-intel-want-to-put-contactless-readers-in-laptopsmaybe-even-soon-enough-to-matter/#ixzz1e3Y22mqN

Dynamics’ Chip And Choice™ Technology Wins 2011 CARTES Best in Show Award

Dynamics Inc. Sweeps Finovate, BAI Retail Delivery and Cartes Best of Show Awards

CARTES & IDentification 2011

PARIS--(BUSINESS WIRE)--Dynamics Inc., an innovator in next-generation payment cards, today announced it has won the Sesames Award for Best of Show in Hardware at the 2011 Cartes and Identification show in Paris, France. Dynamics’ Chip And Choice™ technology took the show’s highest honors. The win marks the first time a company has been awarded the payments industry equivalent of the Triple Crown by winning the Best of Show at the largest shows in payments: FinovateFall 2011, BAI Retail Delivery 2011 and CARTES 2011.

“We’re thrilled and honored to win Best of Show at CARTES – the world’s largest payments conference. The European award validates our position as the only technology-agnostic innovator in payments. Dynamics’ EMV chip technology is truly revolutionary for Europe.”

Introduced 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, eliminates the need 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, “We’re thrilled and honored to win Best of Show at CARTES – the world’s largest payments conference. The European award validates our position as the only technology-agnostic innovator in payments. Dynamics’ EMV chip technology is truly revolutionary for Europe.”

Mullen added, “After 15 years of EMV deployment in Europe, 63 percent of European magnetic stripe cards and 83 percent 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 eight to 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.”

Cartes is the largest payments conference in the world. Best of Show is determined by a vote from the event’s jury, which included Marc Bertin (Eurosmart, Belgium), Kevin Gillick (GlobalPlatform, USA), Bryan Ichikawa (Smart Card Alliance, USA), Catherine Johnston (ACT Canada, Canada), and Francois Vacherand (CEA-LETI, France).

Dynamics’ award-winning Electronic Stripe®, the world’s first fully card-programmable magnetic stripe, is also included on the card. As nearly 100 percent of European point-of-sale terminals have magnetic stripes, but only 83 percent 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. When a user presses a button on the Dynamics-powered 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 percent of Asia Pacific’s point-of-sale terminals that are chip enabled and Dynamics’ Electronic Stripe™ technology may be utilized in the near 100 percent 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, Best of Show at FinovateFall 2010 and FinovateFall 2011, and Best In Show at BAI Retail Delivery 2011. 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. More information on the company, its technology and applications can be found atwww.poweredcards.com.

Largest Automated Fare Collection in North America Selects Cubis

Cubic Selected for Chicago Open Standards Fare System Contract

New system will be the first full-scale open payment system in the world and the largest ever automated fare collection contract placed in North America.

SAN DIEGO, Calif. – November 17, 2011 - Cubic Transportation Systems, a business unit of San Diego-based Cubic Corporation (NYSE: CUB), has been selected for contract award by the Chicago Transit Authority (CTA) to integrate, deliver, operate and maintain the agency’s next-generation open payments system that will accept bank cards and, ultimately, mobile phone payments. The contract has an estimated value of $454 million, making it the largest automated fare collection contract ever placed in North America. Cubic will operate and maintain the entire system, resulting in an overall 12-year partnership between Cubic and the CTA.

To create the CTA Open Standards Fare System (OSFS), Cubic will transition the agency from its current agency-issued fare media to an open payment system where customers can use their existing credit or debit cards as a ticket, bringing the retail experience to transit ticketing. Like most transit agencies today, the CTA operates a “closed loop” fare collection system, selling its own magnetic tickets and smart cards that can be used only on CTA and Pace.

Riders without credit or debit cards will be issued reloadable prepaid debit cards that can be used for everyday purchases and CTA rides.

“The CTA is taking a revolutionary approach that will transform travel for the more than 1.6 million rides citizens take each day on the CTA to get to their jobs, schools and other destinations,” said Richard Wunderle, senior vice president and general manager of Cubic Transportation Systems North America.

Cubic will be the systems integrator and services provider, leading a team that will also include First Data Corporation, Carolyn Grisko & Associates, Americaneagle.com, Bank of America and Bank of America Merchant Services.

“In taking this action, the Chicago Transit Authority will upgrade its fare equipment, save additional money over time, improve the customer experience, grow ridership and keep abreast of rapidly-changing technology. It’s a major step forward, and we and our partners are eager to begin,” said Cubic Transportation Systems vice president John Satterfield.

Cubic is the transit industry’s leading provider of revenue management and business information systems and services. The CTA – which has been a Cubic customer since 1993 when Cubic was awarded the contract to deliver Chicago’s current system – is among major customers that include London, Washington, D.C., San Francisco Bay Area, Atlanta, Miami/South Florida, Los Angeles, New York/New Jersey, Brisbane, Sydney, and Vancouver.

The contract award culminates the CTA’s competitive procurement that included several major competitors in the transit industry. Cubic expects to execute the contract in the near future.

The estimated contract value of $454 million is made up of both fixed and variable revenue components. The payments under the contract will begin when the commercial service status of the system is achieved, which is expected to be within the first two years of the contract. The company will not likely recognize revenues from the contract until that milestone is reached.

Cubic Corporation (NYSE: CUB) is the parent company of three major business segments: Defense Systems, Mission Support Services and Transportation Systems.

Cubic® Transportation Systems, Inc., is the world's leading turnkey solution provider of automated fare collection systems for public transport including bus, bus rapid transit, light rail, commuter rail, heavy rail, ferry and parking. Cubic's solutions and services include system design, central computer systems, equipment design and manufacturing, device-level software, integration, test, installation, warranty, maintenance, computer hosting services, call centre services, card management and distribution services, financial clearing and settlement, multi-application support and outsourcing services.

Every year, nearly 10 billion rides are taken worldwide using Cubic fare collection systems. Cubic has delivered over 400 projects in 40 major markets on five continents. Active projects include London; Brisbane (Southeast Queensland) region, Australia; New York/New Jersey region; Washington, D.C /Baltimore/Virginia region; Los Angeles region; San Diego region; San Francisco region; Minneapolis/St. Paul; Chicago; Atlanta region; Miami (South Florida) region; Vancouver and Edmonton, Canada; Sydney (New South Wales), Australia; and Scandinavia.

Cubic Defense Systems is a leading provider of realistic combat training systems, cyber technologies, asset tracking solutions, and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services. For more information about Cubic, see the company's Web site at www.cubic.com.

Top 20 Most Wanted Gift Cards in 2011 According to GiftCardRescue.com

November 17, 2011 11:00 AM Eastern Time 

ELLICOTT CITY, Md.--(BUSINESS WIRE)--GiftCardRescue.com, the fastest growing gift card exchange site today released its fourth annual Top 20 Most Popular Gift Cards report. This year’s list shows that Wal-Mart remains the most popular gift card requested by consumers.

“It is no surprise that Wal-Mart gift cards remain the most desired. This year’s survey follows a trend we’ve seen the last three years - consumers have a strong preference for gift cards that have practical use”

GiftCardRescue.com allows users to sell gift cards they don’t want for up to 90% cash or exchange them for Amazon.com credit. Consumers can also save money by buyingdiscounted gift cards to their favorite stores for up to 30% off.

“It is no surprise that Wal-Mart gift cards remain the most desired. This year’s survey follows a trend we’ve seen the last three years - consumers have a strong preference for gift cards that have practical use,” said Kwame Kuadey, CEO & Founder, GiftCardRescue.com. “If you plan to buy gift cards for the holidays, our list is a window into the cards people want.”

The Top 20 List is based on a national sample of approximately 12,000 gift card wish lists created by GiftCardRescue.com users as of October 31, 2011. Rounding out the top five are Amazon.com, Target, Home Depot and Visa gift cards.

“The most notable change this year is McDonald’s gift cards moving into the Top 10 and Kohl’s gift cards making a debut in the Top 20. We also saw a drop in demand for gas gift cards, which we speculate is due to the fall in gas prices from last year’s peak,” says Kuadey.

Here is the full list of the Top 20 Gift Cards in 2011:

			1.		Wal-Mart
			2.		Amazon.com
			3.		Target
			4.		Home Depot
			5.		Visa
			6.		Best Buy
			7.		Lowe’s
			8.		Costco
			9.		Starbucks
			10.		McDonald’s
			11.		Walgreens
			12.		Kohl’s
			13.		CVS
			14.		Shell
			15.		American Express
			16.		Bed, Bath & Beyond
			17.		Darden Restaurants
			18.		MasterCard
			19.		Barnes & Noble
			20.		Macy’s

Last year’s Top 20 Most Popular Gift Card List can be found here.

About GiftCardRescue.com

Based in Ellicott City, Maryland, GiftCardRescue.com is the fastest growing gift card exchange website. The company buys gift cards from those who don’t want them and sells them to those who would use them. Consumers can get up to 90% cash back for their unwanted gift cards and save up to 30% on discounted gift cards to over 450 national merchants.

Visa Introduces New Mobile Prepaid Product for Developing Countries

Image via CrunchBase

November 16, 2011 10:00 PM Eastern Time 

First Visa product enabled by Fundamo, a leading mobile money platform recently acquired by Visa. Enables financial institutions, mobile network operators to offer Visa prepaid accounts on mobile phones to unbanked and under-banked consumers.

HONG KONG--(BUSINESS WIRE)--Visa Inc. (NYSE: V) today announced a significant step to bringing access to secure financial services and electronic payments to consumers in developing countries by introducing a new product serving the needs of unbanked and under-banked consumers. The new product, a Visa prepaid account that can be accessed through a mobile phone, offers consumers in developing countries a secure, reliable, globally interoperable electronic payment account.

“Reaching consumers who have previously lacked access to formal financial services with secure and reliable electronic payments is finally a reality”

MTN Group, a leading telecommunications provider in Africa and the Middle East, plans to offer the new Visa product to MTN Mobile Money customers across its markets. As part of the launch, the new product will be available to customers in Nigeria and Uganda.

Today, more than one hundred¹ mobile money programs provide consumers in developing countries with basic financial services, with several more being planned by mobile network operators and financial institutions. Visa’s new product will enhance the security, scale and interoperability of these mobile money programs, while extending their payment functionality by enabling account holders to send funds to each other, send and receive international remittances, make purchases at merchants or online where Visa is accepted or withdraw funds at a Visa ATM.

“Reaching consumers who have previously lacked access to formal financial services with secure and reliable electronic payments is finally a reality,” said Jim McCarthy, head of product for Visa Inc. “Mobile technology has become the single most important driver of financial inclusion that is enabling financial institutions, mobile network operators and Visa to connect unbanked consumers to each other and the global economy.”

MTN Mobile Money has been implemented in 12 countries. At 30 September 2011, there were 5.7 million registered mobile money customers.

“The launch of this product with Visa doesn’t only enhance our current mobile money offering, but also represents yet another crucial milestone in our journey to bring value-adding services to the growing population of mobile phone users in our markets. And as the appetite for mobile technology grows, MTN is excited to be at the forefront of providing millions of our customers with such important product innovations,” said Christian de Faria, MTN Group Chief Commercial Officer.

How It Works

The mobile phone is changing how consumers around the world pay and get paid, and offers financial service providers in developing countries a new, efficient channel to serve the unbanked and under-banked. In the last ten years, 100 million²people have been newly ‘banked’ through mobile services that offer consumers basic financial services that are limited in geographic reach.

Visa’s recent acquisition of Fundamo, a leading mobile money platform in developing countries, and its integration into Visa, has created the first globally interoperable mobile payment platform that can connect existing mobile money services with Visa’s global payment network, VisaNet.

The result is a new Visa product that allows financial service providers and mobile network operators to offer consumers a payment account that provides Visa’s high standards of security, reliability and global interoperability, including:

Visa-quality Payment Security – The new product combines Visa’s advanced risk processing technology with the security and authentication features of mobile devices, offering consumers in developing countries peace of mind when making purchases. Regardless of transaction size or where consumers make purchases, Visa and the account issuer will be able to authenticate the account holder at the point of transaction by requesting a PIN or password. In addition, Visa’s fraud monitoring capabilities can help mitigate and prevent fraud.

Visa Payment Functionality – From international remittances to ecommerce transactions Visa’s new product will offer consumers a new payment account that enhances the payment functionality of their existing mobile money service. In markets with Visa acceptance locations, consumers may also have the option to receive a Visa prepaid companion card that can be used at ATMs and merchants where Visa is accepted.

Transaction Authorization, Clearing and Settlement Services – For financial institutions and mobile network operators offering Visa’s new mobile prepaid product, Visa will offer a full suite of payment processing and account management services supported by the world’s largest payments network, VisaNet.

Developing countries in Africa, Asia and Latin America are among the first target markets for Visa’s new mobile-based prepaid product.

Visa is working closely with financial institutions, mobile network operators, governments and non-governmental organisations in developing countries to extend access to financial services and electronic payments, helping drive economic growth and financial inclusion by migrating cash spend to electronic payments.

About Visa Inc.:

Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks—VisaNet—that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

About the MTN Group:

Launched in 1994, the MTN Group is a multinational telecommunications group operating in 21 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: “MTN.” As of 30 September 2011, MTN recorded over 158 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d’Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo Brazzaville), Rwanda, South Africa, Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. Visit us at www.mtn.com andwww.mtnfootball.com

¹ GSMA Research, 2011

² Juniper Research, 2011

TSYS Signs Largest Private Bank in Azerbaijan to License PRIME 4

Image via CrunchBase

November 17, 2011 01:00 AM Eastern Time 

COLUMBUS, Ga. & MOSCOW--(BUSINESS WIRE)--TSYS announced today that the largest private bank in Azerbaijan, Bank Standard, has signed an agreement to license its PRIME 4 card and merchant management solution. Bank Standard will deploy the solution to support its expanding card portfolio of Visa and MasterCard credit, debit and prepaid cards, in addition to managing its merchant acquiring business.

“Bank Standard is committed to providing innovative card programs and value-added services to their clients, and we are excited to offer them our PRIME solution for empowerment and differentiation of their card offering and services in the market”

The locally incorporated bank selected TSYS as a partner in the region based on PRIME 4’s suitability as a cost-effective single platform solution for issuing and acquiring with strong product performance. With built-in, rule-based technology to monitor and detect suspicious transactions in real time, PRIME will provide the bank with better fraud and risk management, in addition to extensive workflow capabilities and parameter-driven technology to increase operational efficiency, increase speed to market and help improve profitability.

"We were looking for a best-of-breed, in-house solution that had the functionality, depth and breadth to support multiple card types, fast product launches and future innovation,” said Elchin Abdullayev, retail products division head of Bank Standard. “TSYS offered this with its flexible, scalable PRIME solution and backed it with an impressive regional and global track record in the payments industry.”

“Bank Standard is committed to providing innovative card programs and value-added services to their clients, and we are excited to offer them our PRIME solution for empowerment and differentiation of their card offering and services in the market,” said Kelley C. Knutson, executive vice president, TSYS.

TSYS has a strong presence within the Commonwealth of Independent States (CIS) with 19 clients in 7 countries, including some of the top ranking banks in their countries.

About TSYS

TSYS (NYSE: TSS) is reshaping a new era in digital commerce, connecting consumers, merchants, financial institutions, businesses and governments. Through unmatched customer service and industry insight, TSYS creates a better experience for buyers and sellers, supporting cross-border payments in more than 85 countries. Offering merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip, healthcare, installments, money transfer and more, TSYS makes it possible for those in the global marketplace to conduct safe and secure electronic transactions with trust and convenience.

TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks. For more information, please visit us atwww.tsys.com.

About Bank Standard

Following its establishment in 1995, Bank Standard has operated as a retail bank specialising in providing services to individuals. Since 2004, in line with changing its name, Bank Standard revised its development plan and changed into a universal commercial bank focused on serving both individuals and the business sector, providing a broad range of financial services to its clients.

Currently, the Bank is in the process of rapid development by actively introducing new service technologies. Services to individual and corporate clients include settlement services, various lending instruments, payment card services, term deposits for individuals and corporate clients, transfers through international money transfer systems, securities transactions, trade financing and documentary transactions, provision of loans and guarantees, factoring, consulting, etc.

The growth potential of the bank is largely determined by its reputation as of the largest private bank in the country, by its client base and its top quality service. The client base of the bank comprises more than 1,300 corporate accounts and more than 25,000 individual accounts.

Discover Rolls out New ShopDiscover Website Design Featuring Merchant Coupons and Increased User Functionality

November 16, 2011 04:11 PM Eastern Time 

RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover today unveiled its newly redesigned ShopDiscover website, an online shopping portal that rewards cardmembers 5% to 20% Cashback Bonus year-round on purchases at top online retailers such as Dell, Lowe’s, BestBuy.com and Macy’s. These rewards are in addition to the up to 1% Cashback Bonus Discover cardmembers automatically receive on every purchase.

“From providing the opportunity to couple coupons with Cashback Bonus, to having the ability to mark a favorite retailer on the site, we’re confident our cardmembers’ shopping experience will be worth the visit for making online purchases.”

As part of the redesign, Discover cardmembers now have the ability to search for and use merchant coupons, taking advantage of additional savings on top of their Cashback Bonus rewards earned through ShopDiscover. Additional innovative features include enhanced product search functionality, new merchant landing pages, travel deals, a homepage that will host local Groupon deals, and much more.

“We’ve added new features and functionality to ShopDiscover to streamline the online shopping experience so Discover cardmembers can find the best deals on the web, whether they prefer to shop by merchant or product,” said Brian Meier, marketing director for Discover. “From providing the opportunity to couple coupons with Cashback Bonus, to having the ability to mark a favorite retailer on the site, we’re confident our cardmembers’ shopping experience will be worth the visit for making online purchases.”

Since its launch in 2006, ShopDiscover has grown to more than 200 participating merchant retailers, offering an easy way for Discover cardmembers to accelerate the rewards they earn on their purchases. The popular online shopping destination site continues to experience dynamic growth reporting a 30% annual increase in visitors that has led to a significant gain in year-over-year sales.

Discover cardmembers interested in visiting the site simply need to log into the Account Center at www.discover.com, link to a retailer’s site through ShopDiscover and make a purchase. There is no spending limit, and the additional Cashback Bonus will be applied automatically to their Cashback Bonus account.

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, visit www.discoverfinancial.com.

Mobile NFC Gains Momentum as Operators Worldwide Pledge Support for SIM-Based Solution

China Mobile and China Unicom Join Leading Operators in Backing Mobile NFC; GSMA Publishes Mobile NFC Specifications to Drive Global Interoperability

HONG KONG, Nov. 15, 2011 /PRNewswire/ -- Mobile Asia Congress -- The GSMA today announced that 45 of the world's leading mobile operators have committed to support and implement SIM-based Near Field Communications (NFC) solutions and services. These operators include China Mobile and China Unicom, which account for nearly 800 million connections throughout China. As an important catalyst in accelerating the adoption of NFC services, the GSMA has published a new set of industry specifications.  These handset and SIM specifications will enable the development and global deployment of secure, interoperable and ubiquitous SIM-based mobile NFC services.  

In addition to China Mobile and China Unicom, the operators who have committed to SIM-based NFC include: America Movil, AT&T, AVEA, Axiata, AXIS, Bharti Airtel, Bouygues Telecom, CSL, Deutsche Telekom, Elisa Corporation, Emirates Integrated Telecommunications Company PJSC (du), Etisalat, Everything Everywhere, Globe Telecom, KPN, KT Corporation, Maxis, Mobily, MTS, Orange, Proximus, Qtel Group, Rogers Communications, Saudi Telecom Company (STC), SFR, SK Telecom, Smart, SOFTBANK MOBILE, Telecom Italia, Telecom New Zealand, Telecom Slovenije, Telefonica, Telekom Austria Group, Telenor, TeliaSonera, Telus, TMN, Turkcell, Verizon, VimpelCom, VIVA Bahrain and Vodafone Group. Additionally, ISIS, the organisation formed by AT&T Mobility, T-Mobile USA and Verizon Wireless to build a nationwide mobile commerce network in the United States, also supports SIM-based NFC.  

"Clearly the momentum behind SIM-based NFC is growing rapidly, particularly with leading operators China Mobile and China Unicom supporting NFC services secured by the SIM card," said Franco Bernabe, Chairman of the GSMA, and CEO and Chairman of Telecom Italia Group. "NFC is an important innovation for consumers around the world, and while it is perhaps best known for enabling secure mobile payments, it will also enable a wide range of innovative and exciting new services and applications, such as mobile ticketing, entertainment services, secure access to hotels or cars, loyalty schemes and couponing, among others."

"China Mobile is able to offer SIM-based NFC on an extremely large scale and we have the experience, the technical infrastructure and trusted customer care network to support and effectively stimulate the market," said Sha Yuejia, Executive Director and Vice President of China Mobile.  

"China Unicom is known for its innovation and we strongly support SIM-based NFC technology that can ensure contactless services are available to our consumers, and will be interoperable and roam effectively wherever the consumer chooses to go," said Lu Yimin, President and Vice Chairman of China Unicom.

The market potential for SIM-based NFC is significant, according to forecasts from industry research firm Strategy Analytics.  Nearly 1.5 billion SIM-based handsets will have been sold worldwide between 2010 and 2016, supporting transactions of more than $50 billion globally over the same period. Further, ABI Research indicates that 85 per cent of all new point of sale terminals shipped in 2016 will be NFC-enabled.  

Ensuring Interoperability to Drive Global Adoption

One of the primary factors that will accelerate the proliferation of mobile NFC is the standardisation of the technology, which allows seamless interoperability between NFC devices and enables users to benefit from services around the world, regardless of mobile operator, network or device type. To that end, the GSMA has published handset and SIM requirements which define common handset application programming interfaces (APIs) to support SIM-based NFC services. Standardised requirements will drive economies of scale in SIM, handsets and infrastructure by creating a common framework for implementation and product interoperability. 

The handset and SIM requirement documents can be found at: http://www.gsmworld.com/our-work/mobile_lifestyle/mobile_money/news_and_resources.htm

"With the increasing deployment of commercial SIM-based NFC services in a range of markets worldwide, it is critical to embrace common standards that will promote the global interoperability of services and accelerate time-to-market," commentedAnne Bouverot, Director General, GSMA.  "Mobile operators, working together, are ideally positioned to roll out services based on the requirements published by the GSMA, providing proven security and interoperability, global reach and customer care for consumers and businesses and a secure platform for service providers."  

The GSMA has commissioned a report to take an in-depth view into the socio-economic benefits that the deployment of SIM-based NFC services will enable, and how collaboration between industries can help make this a reality. This report can be found at http://www.gsmworld.com/our-work/mobile_lifestyle/mobile_money/news_and_resources.htm.

GSMA NFC & Mobile Money Summit 2012

The GSMA also announced that it will host the GSMA NFC & Mobile Money Summit in Milan in October 2012.  The NFC & Mobile Money Summit will bring together key players from every sector of the industry, providing an environment to forge relationships, expand ideas and foster the growth of NFC and mobile money.  Further details will be forthcoming.

About the GSMA

The GSMA represents the interests of mobile operators worldwide. Spanning more than 220 countries, the GSMA unites nearly 800 of the world's mobile operators, as well as more than 200 companies in the broader mobile ecosystem, including handset makers, software companies, equipment providers, Internet companies, and media and entertainment organisations. The GSMA also produces industry-leading events such as the Mobile World Congress and Mobile Asia Congress.  

For more information, please visit Mobile World Live, the online portal for the mobile communications industry, atwww.mobileworldlive.com or the GSMA corporate website at http://www.gsmworld.com.

SOURCE GSMA