Unflinchingly, the unemployment once again held steady in August to sit at 9.1%, basically unchanged for more than a year and well below the ‘normal’ unemployment rate of only 5.5%. With this, the number of unemployed persons sat at 14.0 million while the unemployment rates for adult men was 8.9%, for adult women was 8%,…
SmartMetric filed a patent infringement lawsuit against smart card issuers Visa and MasterCard in California Federal Court. SmartMetric filed the lawsuit in defense of its U.S. Patent 6,792,464, protecting both ‘contact’ and ‘contactless’ smart card technology specifically when used to automatically access a credit card company network via such contact points as ATM machines or POS machines. SmartMetric is seeking preliminary and permanent injunction against both Visa and MasterCard to prohibit them from further infringements along with a cash award for damages and a royalty payment.
Alaric Systems Limited international provider of payments and enterprise fraud detection systems announced a profit increased by a factor of 8 year-on-year; revenues up over 40% since the year ago period; and repeat revenues having amounted to 54% of the total for its fiscal year ended 31 March 2011. This thanks in part to having attracted an enviable number of prestigious clients in the last 12 months, including sales to a major Middle Eastern acquirer and issuer, an Australian financial services provider with more than 110 associated credit unions, one of the largest Mexican service providers and a global household name retailer.
Tyfone financial solutions is set to demonstrate at Jack Henry’s Symitar Educational Conference (SEC) in San Diego its mobile banking solutions. Namely, Tyfone will be showcasing its secure mobile banking technology, its “iCashé” revenue generation Mobile Wallet Service and introducing “SideSafe” Secure Mobile Authentication solution at the event. Tyfone’s “u4ia” platform, in addition to comprehensive mobile banking, enables an average 3% transaction fee revenue generation through “iCashé” mobile wallet services and provides enhanced strong ID authentication with SideSafe microSD with a seamless migration path to secure NFC contactless payments with SideTap.
CSI Enterprises financial solutions for enterprises and businesses, has done it again with the CSI globalVCard Mobile App, CSI Enterprises introduces this mobile application to on-the-go businesses of all sizes as a revolutionary and customizable B2B payment tool to create secure virtual MasterCard account numbers via a smartphone or tablet. The CSI globalVCard mobile app is a payment method that allows the business owner or user to create secure single and multi-use virtual MasterCard account numbers from their mobile device. It’s a perfect solution to make secure online payments. The CSI globalVCard app contains enhanced security features including pin-prompting at setup, the option to create single and multi-use virtual MasterCard account numbers for each vendor payment, all without storing sensitive credit card data on a mobile device’s operating system or hardware. Cards can also be assigned to specific purchase orders, invoice numbers and be customized with memo notes. Convenience features of the app include the ability to copy and paste card account numbers within a smartphone browser to enhance the online purchase experience as well as view or block existing cards. Future app updates will include NFC enabled PayPass Integration.
Executives leading many of the firms at the center of the mobile payments, mobile wallet, digital goods payment and person-to-person mobile payment businesses will speak at the Mobile Payments Conference, to be held in New York, Sept. 8th and 9th at the New Yorker Hotel. Speakers from MasterCard, American Express and eBay (Zong) will be among the featured speakers. Payfone and Vivotech, major suppliers of the retailer terminals, also will be talking about how retailers view mobile payments. The Mobile Payments Conference is sponsored by Mobile Marketing & Technology, an online resource for the mobile payments and mobile wallet businesses.
txtNation mobile payments provider and SMS aggregator partnered with KidSpotter child safety tracking system. With this, txtNation now lets KidSpotter allow parents to register via SMS to tie the phone in with their revolutionary wrist device. If a child is lost then parents can simply send a text message to the txtNation powered SMS Short-Code which instantly alerts them or the venue. Added to this innovative offering, is an extra security mechanism where a boundary alert via SMS is sent to the parent when the child leaves the area. KidSpotter locating is achieved by children simply wearing a small, lightweight watch like device.
ITS Logistics implemented Shopatron retail-integrated eCommerce and order management eCommerce platform to support their B2B and B2C distribution and fulfillment services. ITS Logistics will integrate Shopatron’s global eCommerce platform with ITS’ fulfillment and distribution infrastructure to provide end-to-end operational support for their customers”from seamless order management for online orders, to payment processing, fulfillment, shipping and returns. The collaboration boasts real-time integration of fulfillment processes with order management systems for instant feedback on in-stock/out-of-stock product availability and customer order shipment notification with tracking information. With this, Shopatron will provide strategic eCommerce services including online stores, order management, online marketing, payment processing and fraud management, while ITS Logistics will deliver robust multi-channel fulfillment and distribution operations.
On Track Innovations contactless microprocessor-based smart card solutions announced its President is set to present at the Rodman & Renshaw Annual Global Investment Conference in New York. OTI will address its “SmartID” complete end-to-end in house solution for homeland security, such as national ID cards, e-passports, driver’s license, voter ID and more, including MediSmart – a solution for transforming patient’s Electronic Health Record (EHR) to a portable medium, along with its payments – supporting MasterCard and Visa contactless payment programs, including “EasyPark” in-vehicle parking meter solution.
Sallie Mae savings, checking and money-market customers can now use their mobile devices to check balances, deposit checks, pay bills, monitor spending and transfer funds. Available free for all Sallie Mae banking accounts including CDs, Money Market, and High-Yield Savings plus No-Fee Student Checking accounts available on select college campuses, Sallie Mae mobile banking lets users pay bills on the go, transfer money, and view account balances and transactions; deposit funds with e-deposit; stay informed with text messages; and locate the nearest ATMs.
Visa and MasterCard are set to deploy EMV Chip & PIN technology to retailers in Canada, with a full North America roll out planned for 2013. This shows a shift in MasterCard and Visa reluctant disposition to publicly confirm or deny suggestions of EMV Chip & PIN usage in Canada and North America. To incentivise merchants to sign up to the Chip & PIN technology, Visa will introduce it’s Technology Innovation Program (TIP) to the USA and remove the PCI Data Security Standard requirement for those merchants who complete at least 75% of the Visa transactions from chip-enabled terminals. Additionally, MasterCard has reassured merchants that any cost of implementation of the EMV Chip & PIN technology will be outweighed by reduced fraud, increased operational efficiency, increased speed at the check-out and flexibility for future applications. With this, Visa will continue to support signature, PIN and no-signature for lower value, low-risk transactions.
99Bill independent third-party payment service joined with its partners recently in Beijing to launch its new ’99Bill+’ payment platform and announce its strategy for mobile payments. Seamlessly linking the end-user’s back-end payment system and 99Bill’s front-end e-commerce platform, clients can embed all kinds of new and innovative applications aimed at improving user experience and speeding up the growth of their business. 99Bill has put great emphasis on developing its industry chain and has over 80 financial institutions with over 300 access points and the Company launched a new mobile payment product that supports multiple operating systems and turns the user’s mobile phone into a portable POS device to carry out remote payment, mobile receipt of incoming funds, management of incoming funds for SMEs and P2P payments.