On Track Innovations contactless microprocessor-based smart card solutions announced FY/10 total revenues of $53.6 million, $22.2 million up from the previous year figure of $31.4 million. This is a 71% increase in one year. Meanwhile, revenues from transaction fees totaled $4.0 million, a 37% increase compared to $2.9 million last year, while gross margin increased to 54% vs. 47% last year. OTI applications include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking and loyalty programs. Subsequent to this performance, OTI execs are projecting 2011 revenue to grow to $55-$60 million.
American Express has officially introduced its “Serve” digital payment and commerce platform. Focused on allowing consumers to more effectively spend, send and receive money with services that go beyond the existing global payment networks, “Serve” lets users make purchases and person-to-person (P2P) payments online (serve.com), via mobile phones, and with merchant whom accept American Express…
First National Bank of Omaha credit card issuer and the Discover Network have launched of the “First National Bank of Omaha Discover” credit card. The two parties signed a multi-year agreement in August 2010 allowing First National Bank of Omaha to issue credit cards on the Discover network. First National Bank is now one of only three US banks with contracts to issue credit cards on all four major card networks. It provides users an introductory rate of 0% on purchases (6 mo) and balance transfers (12 mo); a cash back feature which allow cardholders to earn up to 5% depending on spend; eligibility to participate in the Discover “Everyday Giveaway Promotion”; and access to Discover’s “Cash Over” feature that allows cardholders to get $20-100 cash back at select retailers.
Cardtronics is set to implement Lexcel’s “TestSystem Network” technology platform. Offering testing transaction authorizations against regional and global ATM/POS networks, Lexcel’s system lets processors efficiently gain network pre-certifications and strengthen their processing environment by providing them the ability to configure the test system to their own unique requirements. Lexcel’s packaged testing products facilitate the introduction of new functionality into processing environments in an automated fashion, which enables Cardtronics to focus more of its resources on delivering ATM management, placement, and processing solutions to its customers.
Bank Freedom of Prepaid Card Holdings is leaving MetaBank an intends to begin issuing its new prepaid cards through a new issuing Bank in May or June 2011. MetaBank is slated for complete phase-out by November 2011. Bank Freedom recently informed MetaBank that it had contracted with a new issuing bank for the Bank Freedom Prepaid Cards. MetaBank recently informed Bank Freedom that it is not going to renew the existing agreement between Meta and Bank Freedom which expires November 17, 2011.
Sipera Systems Unified Communications (UC) enablement and security launched its innovative VoIP security solutions for compliance with new guidance issued by the PCI Security Standards Council (PCI SSC). The new guidance is to protect credit card and payment card information in telephone-based transactions, including VoIP. The guidance advises businesses that handle credit cards to ensure the privacy and encryption of VoIP communications carrying cardholder data, and to control archiving and monitoring of these communications in compliance with PCI Data Security Standard (PCI DSS) rules. The UC-Sec enables an enterprise to comply with the PCI SSC guidance on VoIP security with application-layer encryption and privacy to any supporting end-point; forks both signaling and media for monitoring and recording of clear traffic, even when it is encrypted, enabling centralized call recording and simpler architectures; and lets full privacy of communications to remote call centers, and teleworkers, traveling workers, with no VPN appliances or concentrators to configure and manage.
HID Global secure identity has extended its “Identity on Demand” services to include a secure web portal that enables customers and channel partners to monitor and manage all aspects of card personalization projects. This spectrum includes from design and ordering through data transmission, high-quality multi-color printing, programming and on-time delivery anywhere in the world. HID “Global’s Identity on Demand” services provide the scale and resources to handle large-volume orders with tight deadlines that would otherwise be difficult for an individual company or integrator to accommodate on its own.
CAST semiconductor intellectual property (IP) provider has released its “PCIEXPAIF IP Corean” IP core, seeking to offer easier PCI integration in an FPGA-based system. This provides a high-level interface between popular system buses and the PCI Express hard macro blocks available from FPGA vendors Altera and Xilinx. The core includes an extensible DMA and other functions to encode and decode Transaction Layer Packets, relieving the designer from directly managing this lower-level activity and enabling an application-level focus.
Keller Rohrback is investigating claims against Washington State payday lenders Checkmate and Cash 1 for alleged deceptive practices related to payday loans issued to borrowers in the form of gift cards. The investigation focuses on the various lenders’ alleged attempts to evade Washington’s legal limits on payday loans by structuring the loans in the form of gift cards to retailers such as Safeway, Fred Meyer, Wal-Mart and others. These gifts card “loans” are called “retail installment loan programs” and “revolving charge agreements” and are marketed as an alternative to payday loans, and result in borrowers paying excessive finance charges and late fees.
Ethoca collaborative ecommerce fraud management launched its “FraudStop” PCI-certified service. Allowing online merchants to reduce fraud losses and contribute to research analysis and preventing future frauds, “FraudStop” lets member organizations compare confirmed fraud information to increase fraud detection. After approval from Ethoca and agreeing to the “FraudStop” terms of service, the organization becomes a member. For every fraud incident, the member can report via a web interface, uploading batch files, or using an application programming interface (API) to connect with Ethoca’s PCI Certified system, and receive a daily list of confirmed fraud incidents.
Midco Connections outsourced contact center services announced that it has completed its PCI-DSS v1.2.1 assessment performed by “CompliancePoint” PCI Security Council Qualified Security Assessor Company. The assessor determined Midco compliant with the PCI Data Security Standards and certified as a Level 1 service provider. This certification determines it can provide the highest level of protection of its customers’ data hosted in its facilities and its clients will be able to simplify their own accreditation processes to the PCI-DSS standard and can rely on secure storage of customer and payment data.
GlobalCollect will now process online credit card payments for Royal Jordanian (RJ) in over 25 currencies throughout the Middle East, North Africa, Europe, Asia, and North America. This will allow RJ passengers to buy tickets via the RJ call center by providing RJ agents with their credit card information. A future expansion of the partnership will include adding alternative payment methods such as real-time banking, cash, and bank transfers to tap into additional customer segments preferring non-card payments. GlobalCollect also provides its clients strategic advice on payments by dedicated airline consultants, online & call center customer support, and advanced fraud screening.