12/01/2010 • CardFlash® - Payment Card Industry News

Hypercom Takes P2P Encryption Global

5, Country, Priority, UNITED STATESBy Robert McKinley 12/01/2010

Hypercom is expanding it payment data encryption to the other side of the world, with more than 1,200 retail branches in Indonesia making available its “HyperSafe Secure” “EFTSec” Server point-to-point payment data encryption system. The Hypercom “HyperSafe Secure” suite encrypts cardholder data during transaction processing with “EFTSec” starting at the payment terminal and ending at a trusted point where the data is decrypted. The “EFTSec” server is used by major banks with combined assets of nearly US$200 billion, and is licensed to and implemented by several major terminal manufacturers in Asia and protects an estimated 3.4 million card payment transactions every month while the “HyperSafe Secure” suite uses the proven industry standard Triple DES DUKPT algorithm and incorporates Hypercom’s full X509 public key infrastructure HyperSafe security layer in every Hypercom Optimum payment terminal.

Western Union Expands Account-Based Remittance

5, Country, Priority, UNITED STATESBy Robert McKinley 12/01/2010

The Western Union Company is further expanding its global reach to offer Account-Based Money Transfer services to Shanghai Pudong Development Bank (SPDBank) accountholders in China and Banca Transilvania accountholders in Romania. This will let SPDBank accountholders send Western Union Money Transfers directly from their accounts via online banking or their mobile phones for cash payout at Western Union Agent locations in more than 200 countries and territories and access the funds via the Internet, ATMs and their mobile phones. Meanwhile, Banca Transilvania accountholders are now able to send money directly from their bank accounts via ATM money transfer for cash payout at 386,000 Western Union Agent locations in 200 countries and territories and receive money from senders around the world for funds access through the Bank’s network of 780 ATMs around the country.

GEMALTO

5, Country, POLAND, PriorityBy Robert McKinley 12/01/2010

Gemalto digital security has been selected to migrate the PKO Bank Polski portfolio of Visa debit cards for individual clients from magnetic stripe technology straight to EMV contactless. PKO Bank Polski S.A. is the largest financial institution in Poland serving more than 8.5 million customers, and with the largest sales network – 1,211 branches and 1,938 agencies across the country. Mass deployment started in September 2010 and the bank plans to issue around 6.5 million Visa payWave cards to its customers by the end of 2011. The card provides a new and simple way to pay for purchases up to 50 Polish Zloty (Ã¢ÂÂ¬12.5, USD17), giving customers the convenience of faster payments.

American Express Announces Members Project Winners

5, Country, Priority, UNITED STATESBy Robert McKinley 12/01/2010

American Express and TakePart announced its 5 “Members Project” organization winners. Chosen by the public through online voting, these five organizations, whom will collectively receive $1 million in funding from American Express to advance their missions of serving communities around the country, include Arts & Culture: Sundance Institute; Community Development: KaBOOM! ; Education: FIRST; Environment & Wildlife: Best Friends Animal Society; and Health & Wellness: American Heart Association. American Express kicked off its fourth voting round for Members Project and unveiled plans to expand the program with a new Facebook application. As American Express begins its fourth voting cycle, the “Members Project” Facebook page will feature the âShare My Storyâ application, inspiring Facebook fans to share their story of how they have made a difference, and get inspired by the stories of others.

REWARDS

5, CANADA, Country, PriorityBy Robert McKinley 12/01/2010

Reward programs influence purchasing decisions for nearly 60% of Canadian credit card holders; 66% feel reward programs offer value; 89% own at least one credit card, of which 75% have at least one reward program; and 62% having only one or two credit cards. Also, 20% cited earning reward points as a big motivator for using credit cards in the first place while purchasing convenience was cited by 51%. Meanwhile, according to new Chase Canada survey, only 9% say using a credit card is as an easy way to borrow money; 45% select their credit cards based on the rewards program; 59% prefer to make purchases at stores where they collect rewards points; 44% are more likely to make purchases when they know they are earning reward points; and 66% feel reward points offer additional value when making purchases. Additional findings show 52% use credit cards at least once a week; 32% redeem points annually; an additional 32% redeem less often than that; 20% have never redeemed their rewards points; and men are more likely to use their card at least once a week than are women at 60% and 45%, respectively.

US Economic Index Up for 4th Consecutive Month

5, Country, Priority, UNITED STATESBy Robert McKinley 12/01/2010

A major economic index moved up again in October for the fourth consecutive month. The recovery is slow but sure, with the Conference Board “Leading Economic Index” for the U.S. having increased 0.5% in October to 111.3 (2004=100), following a 0.5% increase in September and a 0.1 percent% in August. This follows an increase of 0.1% in July to 109.8 and a decrease of 0.2% in June to 109.8. The overall US LEI has been on the rise since April 2009 and its gains have become very widespread, most recently with five of the ten indicators that make up The Conference Board LEI for the U.S. having increased in October. The Conference Board Coincident Economic Index (CEI) for the U.S. increased 0.1% in October to 101.5 (2004=100), following no change in September, and no change in August. Meanwhile, the Conference Board Lagging Economic Index (LAG) increased 0.1% in October to 108.7 (2004=100), following a 0.5% increase in September and a 0.1% increase in August.

CB LEI % +/(-)
OCT: 0.5
SEP: 0.5
AUG: 0.1
JUL: 0.1
JUN: (0.2)
MAY: 0.4
APR: N/A
MAR: 1.4
FEB: 0.1
JAN: 0.3
DEC: 1.2
NOV: 0.9
SOURCE: CardData.com

HYPERSAFE SECURE

5, Country, INDONESIA, PriorityBy Robert McKinley 12/01/2010

Hypercom is expanding it payment data encryption to the other side of
the world, with more than 1,200 retail branches in Indonesia making
available its “HyperSafe Secure” “EFTSec” Server point-to-point payment
data encryption system. The Hypercom “HyperSafe Secure” suite encrypts
cardholder data during transaction processing with “EFTSec” starting at
the payment terminal and ending at a trusted point where the data is
decrypted. The “EFTSec” server is used by major banks with combined
assets of nearly US$200 billion, and is licensed to and implemented by
several major terminal manufacturers in Asia and protects an estimated
3.4 million card payment transactions every month while the “HyperSafe
Secure” suite uses the proven industry standard Triple DES DUKPT
algorithm and incorporates Hypercom’s full X509 public key
infrastructure HyperSafe security layer in every Hypercom Optimum
payment terminal.

AmEx Launches New Platinum Card Travel Benefits

5, Country, Priority, UNITED STATESBy Robert McKinley 12/01/2010

American Express Platinum Card members now have access to a new suite of benefits worth hundreds of dollars for an Airline Fee Credit of up to $200, a 20% Travel Bonus and a Travel App. Focal on giving travelers more value for their money and time, benefits allow card members to check a bag or enjoy an in-flight meal on American Express for a combined overall value of up to $200 per year. the fee credit may also apply to flight change fees and airport lounge day passes. Also, card members now have access to a new complimentary mobile app, valued at $49/year, which provides trip management on a suite of mobile travel tools available in “TripIt Pro” while Platinum Card members can now redeem points and earn 20% of those points back every time.

GLACIER

5, CANADA, Country, PriorityBy Robert McKinley 12/01/2010

Glacier Credit Card Trust has completed its asset-backed offerings of $250,000,000 of Series 2010-1 Senior Notes and $14,551,000 of Series 2010-1 Subordinated Notes. The Series 2010-1 Senior Notes were offered at par with a coupon rate of 3.158 percent. The Series 2010-1 Subordinated Notes were offered at par with a coupon rate of 4.128 percent. Both Series 2010-1 Notes have an expected repayment date of November 20, 2015. The Senior Notes were rated ‘AAA (sf)’ and the Subordinated Notes were rated ‘A (sf)’ by Standard & Poor’s Ratings Services and DBRS Limited. Glacier Credit Card Trust was established to purchase undivided co-ownership interests in a revolving pool of credit card receivables of Canadian Tire Bank.

Fiserv 4th Top Global Risk Provider

5, Country, Priority, UNITED STATESBy Robert McKinley 12/01/2010

Fiserv financial services technology is once again ranked first in North America and fourth overall in Chartis Research’s “RiskTech100 2010” comprehensive annual study of top global technology firms in risk management. From fifth in 2009, Fiserv addresses market risk, credit risk, operational risk, asset/liability management, interest-rate risk, liquidity risk, financial crime risk, financial control and compliance. It was ranked based on functionality, core technology, organizational strength, customer satisfaction, market presence and innovation. Fiserv was the category winner for organizational strength thanks to its leadership, history and business focus.

AT90SC

5, Country, FRANCE, PriorityBy Robert McKinley 12/01/2010

INSIDE Contactless semiconductor solutions for secure transactions and digital identity has started sampling new versions of its “AT90SC” secure EMV smart card microcontrollers, based on 0.13-micron process technology. This gives smart card manufacturers a higher level of security required to achieve certification while maintaining full software compatibility for firmware re-use, and delivers cost improvements to enable more competitive secure products. Security features include dedicated hardware for protection against SPA/DPA/SEMA/DEMA attacks; advanced protection against physical attack, including active shield; environmental protection systems; voltage, frequency and temperature monitors; light protection and secure memory management/access protection.

Travelex Offers Prepaid Debit Card

5, Country, Priority, UNITED STATESBy Robert McKinley 12/01/2010

Travelex non-bank foreign exchange currency provider has introduced its prepaid foreign currency “Cash Passport” MasterCard. Available in Euros and British Pounds that utilize chip & PIN technology, the chip & PIN “Cash Passport” MasterCard lets Americans carry foreign currency abroad, requiring a PIN to complete chip-based transactions, offering a safe and convenient alternative to cash, ATM or credit cards. Also, it is not connected to the cardholdersâ bank account, minimizing the risk of identity theft in the event the card is lost or stolen; still includes a traditional magnetic stripe for merchants not yet using chip & PIN technology; allows leisure travelers to pre-load travel money onto a reloadable card for convenient use in millions of ATMs, shops and restaurants worldwide where MasterCard is accepted; and can be loaded and reloaded with a choice of the two aforementioned currencies.

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