Robert McKinley, Senior Analyst/Editor Robert McKinley is an analyst of the payments industry on a daily basis for 32 years covering payment cards and payment systems from both the business side and the consumer side. McKinley is the retired founder and chief executive of RAM Research, CardWeb and CardTrak. In his prior position, McKinley has participated in more than 10,000 documented news media interviews, testified as an expert witness in two separate $billion+ U.S. anti-trust trials, testified before the U.S. Congress, assisted the GAO with paymentsIMG_2006 (1).jpeg reports, chaired numerous business conferences and provided C-Suite opinion to a multitude of Fortune 500 companies. In retirement, he has continued developing and funding digital media assets as well as contributing payments related analysis/content to a broad list of online publishers, including CardFlash, CardTrak and CardData. McKinley is also a national certified mentor with the non-profit SCORE organization with a focus on assisting Fintech startups.

Bindo launches EMV card reader for cloud-based POS system

Bindo retail technology announced the launch of a mobile EMV credit card reader for its cloud-based iPad POS. The EMV reader has full end-to-end encryption with its iPad POS system and is both EMV Level 1 and Level 2 certified. It slots comfortably into the audiojack of an iPhone or an iPad, and allows mobile credit card payment acceptance. Bindo’s system encrypts and tokenizes cardholder data at the point of capture and its Tamper-Safe security module (TSSM) helps prevent third party brute force attacks. The card reader will continue to support dual and triple track card reading. Others in the industry have announced EMV chip readers. Unlike competitors, however, Bindo’s mobile card reader will be able to process both chip-and-signature cards and chip-and-pin cards, enabling EMV debit card transactions, reducing the need for merchants to carry multiple terminals.

Bankia to refresh ATM estate with Diebold

Diebold is behind an extensive update of the entire ATM fleet for Bankia. Diebold will support Bankia to reduce the complexity of managing an assorted fleet of ATMs from different providers by providing multivendor, turnkey installation services for the project, including terminal audits, terminal pre-staging, software loading/testing, security module integration, signage and advertising deployment, ATM installation and ATM training for end users. Bankia operates more than 2,000 branches and serves more than 7 million customers. Diebold will be managing the installation of more than 2,100 ATMs in the initial phase of the project, including the deployment of approximately 900 new Diebold Opteva® ATMs for the Madrid-based bank.

Ecentric Deploys Stanchion P2PE

Transaction processing specialist Ecentric Payment Systems is boosting the performance and security of transactions by implementing hardware encryption devices supplied by Stanchion Payment Systems.The Futurex devices are unseen to the general public, yet perform an essential function every time a credit, debit or other card is used: they make sure the information exchanged between point of sale, bank and customer account is completely secure. Ecentric Payment Systems is a transaction processing business which processes all card transactions and other payments.

Payfont Nails Down Scottish Enterprise funding

Payfont has been awarded £100,000 funding from Scottish Enterprise, helping to fund its online security to counter data theft disasters. The Anonymised, Distributed, e-Commerce Architecture (ADeCA) will protect organisations and their customers by managing distributed data fragments via a contextual security protocol. It makes a user’s data completely unique to that user, anonymous to others. This approach raises the bar significantly against Cybercriminals used to stealing large databases of data records that rely on standard encryption and linear access security methods.Cybercrime and its identity theft and money laundering consequences are now at epidemic proportions globally.The 2014 average data breach cost for a company is US$3.5m, up 15% on 2013.

TSYS signs agreement with the Philippines’ Metrobank Card Corporation

TSYS signed an agreement to license its PRIME payment transaction processing platform to Metrobank Card Corporation (MCC) in the Philippines. MCC is a strategic joint venture between Metrobank and Australia New Zealand Bank and is one of the largest issuers and acquirers in the Philippines’ market. MCC will license PRIME 4, the latest version of the payment processing platform, to manage its multi-payment card issuing and merchant acquiring together with online authorization and switching on a single platform. Value-added services for installments, credit, loyalty, collections, dispute and chargeback management and acquirer fraud monitoring will also be offered as part of PRIME 4’s integrated payment solution.


MasterCard’s Canadian gross dollar volume increases 5.4% in the second quarter, while Visa’s Canadian gross dollar volume remained flat. MasterCard has 49 million cards-in-force currently in the Canadian region. RAM Research projects MasterCard Canadian purchase dollar volume will rise slightly to US$34 billion in the third quarter.

Target Project $148mm in Losses Thanks to Infamous Breach

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Target announced 2Q/14 expectations are projected to include gross expenses of $148 million, partially offset by a $38 million insurance receivable, related to the December 2013 data breach. The Company provided an estimate of costs related to its recently-completed early debt retirement and updated expectations for second-quarter Adjusted1 and GAAP earnings…