FairMarket announced the integration of the PayPal payment system with its platform which gives merchants who sell on eBay using the FairMarket platform access to PayPal’s 20 million users. eValueville.com, which lists more than 1,000 clothing items on eBay daily, is among the first of FairMarket’s customers to accept PayPal payments using the newly integrated platform.
NEXT IT Informasyon Billisim Teknolojileri ve Tic has signed a deal with
Ireland’s CardBASE Technologies to distribute “MASCOT” range of products in
Turkey and other Turkish speaking states. NEXT IT says it sees the market
for CardBASE enabled platforms in Turkey to be a $10 million business
within two years. CardBASE “MASCOT” is a GlobalPlatform compliant solution
for the management of multiple applications including, EMV, CEPS, PKI and
Loyalty. “MASCOT” delivers solutions for issuance, card life cycle
management, key management, personalization and post issuance.
MasterCard and MagTek announced the successful results of the beta
test of a risk management tool to fight skimming in Kuala Lumpur. Malaysia
is the first country to deploy “Magneprint” citywide. In collaboration with
four of MasterCard’s member financial institutions in Malaysia: Citibank
Berhad, HSBC Bank Malaysia Berhad, MBF Cards (Malaysia) Sendirian Berhad and
Southern Bank Berhad, the beta test began in June 2002, and will continue
through December 2002. More than 250 merchants within Kuala Lumpur are
participating in the test. The participating merchant terminals were
retrofitted with Magneprint-capable readers and the terminals were
programmed to send the Magneprint value with the authorization request
message to the card issuer’s host system for verification. To date, a total
of 65,817 cards with Magneprint references are on file and utilized,
resulting in 673,674 scored Magneprint transactions. The beta test has also
successfully detected skimmed cards during the test period.
Atmel Corporation has received the “USB V2.0 Full Speed”
certification for the “AT90SC6464C-USB.” The certification gives customers
the assurance of USB Full-Speed performance when deploying Atmel s USB
secure microcontroller solution on the PC security market addressing
applications such as e-banking, e-commerce, VPN, PKI, secured email and
copy right protection. The dual protocol “AT90SC6464C-USB” secure IC is a
USB device with plug-and-play convenience, while remaining compatible with
the established ISO 7816 infrastructure. The high data transfer rate over
the USB 2.0 Full-Speed interface 12 Mbps combined with a highly secure
architecture gives a very low cost secure IC for emerging applications.
VISA International launched an “International Travel Card” in China this week. Visa estimates this opportunity represents just a fraction of the $2.3 trillion global market for prepaid, the newest, most dynamic category of payment products. To help capture the US$2.3 trillion prepaid opportunity, Visa is continuing to work closely with industry participants to develop a cost/benefit framework for accessing new markets and enhancing relationships with existing customers.
VISA International launched an “International Travel Card” in
China. VISA says that market research shows only 5% of the 10 million
annual outbound travelers from China own international payment cards. The
study also found more than half of outbound travelers carry over US$1,000
in cash on each trip, VISA prepaid cards may be non-personalized, have an
expiration date, and can exist in the physical or virtual world. They can
be reloadable or disposable. They can be instantly issued. A range of VISA
travel cards now allow consumers to make purchases wherever “Visa Flag” or
“Visa Electron” are accepted and provide 24-hour access to funds in any
KS-based EPIQ Systems reported third quarter revenues for bankruptcy services of $9.2 million and gross profit of $6.7 million. EPIQ Systems, Inc. develops, markets and licenses proprietary software solutions for workflow management and data communications infrastructure that serve the bankruptcy trustee market and financial services market.
Certegy says its use of Exstream’s “Dialogue” software has produced significant savings by streamlining and standardizing internal production processes to create and personalize more than 100 million statements and 30 million pieces of correspondence produced annually. With Dialogue, Certegy is able to offer financial institutions low-cost advertising opportunities by dynamically inserting logos and 1:1 marketing campaigns into documents to strengthen brand loyalty, promote products, inform of services, and relay other pertinent information to the recipient.
Fully 62% of those owning businesses with under $1 million in revenues and using Web small business banking have the same primary bank for both personal and business needs. Also 38% of Micro/SOHO owners who bank online hold a credit card with the same bank. The findings come from the new “SOHO/Micro Banker Scorecard” by Gomez. The “Scorecard” examines how the largest banks in the U.S. are serving the particular needs of owners of those small businesses with under $1 million in revenues. Bank of America took top honors in the latest survey, followed closely by Key, Fleet and Bank One. Gomez says that despite overwhelming customer demand, only four of 15 Scorecard banks offer online check imaging. Of these four, Bank of America, Bank One and UBOC only started offering online check imaging this year, while Wachovia has offered check imaging for longer. Only Key and UBOC offer an online version of the monthly statement.
Humboldt Bancorp reported third quarter net income of $3.6 million, an increase of 28% over 3Q/01. Total revenues, which include net interest income and non-interest income, increased 12% to $18.8 million for the third quarter of 2002 as compared to the same period in 2001.
Barclaycard has awarded Oberthur Card Systems a contract to supply its EMV smart cards for the next three years. Oberthur has been a long time partner of Barclaycard for the migration to UKIS and has supplied the bank with over 10 million such cards so far. With 40 million cardholders and 100 million payment cards in circulation, the United Kingdom is not only the biggest market in Western Europe but also the pioneer in the migration to smart cards with the first cards issued back in 1996.
Cubic Corp. says it is preparing to enter the border security market. Cubic is studying the application of high-security, smart card-based access control systems to increase the efficiency of pedestrian crossings on The Bridge at Las Americas. The system would incorporate biometric technologies such as fingerprint, facial recognition or iris scanning technology to grant or deny access to cardholders based on whether the information on the card matched the physical characteristics of the person at the port of entry.