Discover Expands Sweepstakes in 2011

PAX is implementing Voltage end-to-end encryption on its POS solution to protect cardholder data through the payment flow to payment processor or card brand hand-off. With this, PAX solutions has partnered with Voltage “SecureData” to provide merchants an end-to-end data protection solution with an easy PCI DSS audit scope. PAX has chosen to join the new Voltage SecureData Open License Program because it dramatically lowers the barrier to implementing end-to-end encryption on POS devices, Electronic Cash Registers (ECRs) and eCommerce Payment platforms. With PAX solutions, payment card primary account numbers (PANs) and other sensitive data are encrypted at the merchant’s point-of-sale device and remains enforced until payment processor or card-brand hand-off.

Pax Implements Voltage Encryption

PAX is implementing Voltage end-to-end encryption on its POS solution to protect cardholder data through the payment flow to payment processor or card brand hand-off. With this, PAX solutions has partnered with Voltage “SecureData” to provide merchants an end-to-end data protection solution with an easy PCI DSS audit scope. PAX has chosen to join the new Voltage SecureData Open License Program because it dramatically lowers the barrier to implementing end-to-end encryption on POS devices, Electronic Cash Registers (ECRs) and eCommerce Payment platforms. With PAX solutions, payment card primary account numbers (PANs) and other sensitive data are encrypted at the merchant’s point-of-sale device and remains enforced until payment processor or card-brand hand-off.

SelectCore Posts Record-Breaking 2010

SelectCore payment and transaction processor for prepaid telecom and financial services posted 2010 revenues of more than $102 million. Throughout the year, the Company also added over 3,500 new merchant locations to its retail network; processed over 40 million transactions; and generated new technology development to launch transaction processing solutions for mobile remittance. Also, SelectCore is actively seeking a new lender to replace its current $3.75M USD senior debt facility with ComVest Capital II LP on or before March 31, 2011 when a principal payment of $1.25M becomes due.

Aptys Chalks 2010 Up as a Good Year

Aptys Solutions payments network provider for financial institutions marked 2010 as an inaugural year for the company with the official launch in April of its “PayLOGICS” common platform that bridges legacy and emerging payments. The platform supports all aspects of payment processing, including image exchange, ACH processing, wire processing, Federal Reserve messages, in-network exchange (INEX) payment processing and mobile payments. Additional Company developments include having made available the “Active Archive” solution allowing financial institutions to consolidate payment archives across an entire enterprise and having introduced the NACHA-initiated “Deposited Check Truncation” (DCT) Pilot. Additionally, Aptys purchased a license to use DataTreasury Corporation’s patented technology for image capture, which provides a solid foundation for the continuation of Aptys’ technological growth in image capture and effectively protects Aptys’ customers from any future patent issues related to the product.

Android Adoption Gobbles 27% of Market Share

With overall smartphone usage in the U.S. having grown from 12% in 2008 to 34% in 2010, the Android mobile devices are currently experiencing the most explosive customer base than any of its competitors. Having swallowed an added 23% of the market share from 4% in July 2009 to 27% in September 2010, the Android-based phones account for 30% of females who own a smartphone while most of its owners are significantly more interested in using mobile phone technology than are all smartphone users, according to Javelin Research. With the smartphone market on track for brisk sustained growth through 2015, the Android is expected to overtake the Blackberry as the most popular smartphone on the market in 2011 while the iPhone is not expected to overtake either in popularity.

Circle K Chooses VALID Systems

VALID Systems announced this morning that the Circle K convenience store chain is deploying its check cashing program to its company-owned locations. Utilizing the VALID decisioning and identification technology, the new system integrates existing hardware alongside new technologies with fully automated approval in about 60 seconds. Funds are loaded onto a Money Network branded GPR card provided by First Data, which then allow cardholders to withdraw cash immediately from an onsite ATM, or use it like any other debit card.

Swisscard Utilizes Experian Decision Management

Swisscard AECS will be implementing Experian global information services to support its customer credit risk and customer management decision making to serve consumers in Switzerland. With this, Swisscard will namely be deploying Experian “New Business” and Experian “Probe” decision support systems. A joint venture between Credit Suisse and American Express, Swisscard is the only one to offer American Express, MasterCard, and Visa from its single source. The “New Business” application decision system will enable Swisscard to assess and make decisions on applicants, identifying optimal customers and offering tailored packages to suit their needs. Meanwhile, “Probe” will support Swisscard decision making on areas such as credit limit management, customer service and debt management, based on a comprehensive and up-to-date understanding of the customer.

Verafin Passes 600th Customer Milestone

Verafin compliance, anti-money laundering (AML) and fraud detection software has surpassed 600 customers in North America. Through year end, 2010, Verafin had more than 630 bank and credit union customers, marking the strongest quarter in the company´s history with a substantial triple digit year-over-year customer growth. Verafin fraud detection and anti-money laundering (AML) solution combines the capability to detect and act upon various forms and levels of fraud and money laundering, while providing complete visibility into customer activity and ensuring comprehensive compliance reporting. The software combines the integration of fraud detection, anti money laundering, regulatory agency reporting and core banking systems.

Holiday Shopping was Fun in 2010

For the 2010 holiday shopping season, 53% of shoppers planned to give a fairly equal mix of fun and practical gifts, while only 30% said that they gave mostly practical gifts. Indicating what MasterCard is calling a “return to fun,” 49% even bought a little something for themselves, 26% of whom splurged on personal electronics while 21% went for a little personal pampering. This, according to a recent MasterCard Worldwide Survey, also showed 34% of 18-24 year olds who planned to shop for the holiday season said they used social networks to get ideas about which gifts to buy; 25% said that they used social networks to get ideas about where to buy gifts; 37% used mobile phones to inform purchases; and 22% used their devices to find the best prices. Moreover, 25% planned to hold off purchasing gifts before Christmas so that they could take advantage of post-holiday sales, among which 43% shopped for themselves; 35% for their spouse/partner; and 34% for their children. As of December 19, 34% of male shoppers hadn’t started their holiday shopping yet compared to only 19% of women while 72% of males who planned to shop were not at all stressed about the fact that they hadn’t started shopping yet, compared to only 55% of women.

2010 Was an Off Year for Card Folio Sales

Card industry advisor R.K. Hammer has published their annual year-end summary and price range of credit card portfolios believed to have been sold last year. As shown in the accompanying chart, by most any generally accepted measure it was a weak year at best. Turbulent economic factors which expanded in 2009 represented a major shift from stronger earlier periods, and this continued in 2010. It is estimated by R.K. Hammer that over $50 Billion in potential sales did not go through in the past two years that otherwise might have, being pulled from the market or not offered for sale in the first place. As banks enter 2011 with more hope for a better economy, greater government certainty with their intentions, and much of the charge off onslaught working through the queue, it is believed that more high quality card deals with return to the market, as it has begun to in other industries in the broader market. This is the second in R.K. Hammer’s annual seven-part series of year-end card industry reports, the first being observations about the industry’s P/L . Upcoming reports will include: 2010 Card Fees Trends; Card Penalty Fees Trends; Fee Income, Banks vs. Cards; Multi-Decade Report on Pre-Tax Industry ROA Earnings; and the R.K. Hammer assessment of High-Performance Agent Bank Card Program for 2010.

Ukash Appoints New CEO

David Hunter has been appointed the CEO Ukash Global eMoney Network. The former eMoney head of ClickandBuy and Paysafecard, Hunter has a track record of leading prepaid ventures into profitable growth. Ukash empowers people worldwide to use cash electronically, irrespective of status, device or boundary, and is available at 420,000 retail locations. Globally, Ukash is active in more than 50 countries. It was established in 2001 under the holding company Smart Voucher and has since grown to more than 420,000 physical points of purchase, and is available in more than 50 countries around the world.