Citibank Hungary’s credit card holders have access to the free Internet Secure Code Service (3-D Secure technology) that greatly enhances the security of online purchases through participating merchant networks. Citi Life, Malév-Citibank and Shell-Citibank co-brand cardholders who subscribe to Citibank’s SMS Alert Service for monitoring card transactions have automated access to this free service. Participating online merchants are identified by “MasterCard Secure Code” and “Verified by VISA” on their website. Other cards in the Citibank portfolio will also be linked to this service in the next few months.
Credit card chargeoffs fell to 5.51% through the end of October, much lower than the 9.20% the year ago period, and are projected to finish the year 40% lower than in 2010. At 11.28% it is nearly double the long-term average of about 6% recorded since the inception of the Fitch credit card index in…
Bharatbook added a new report on ” ATM Cards in the Philippines ” for an overview, Demand, Supply Trends and industry analysis reports. The number of ATM cards in circulation exhibited strong growth in 2010, mainly because of innovation and extended application, as major operators developed a wide range of services that many consumers enjoy. Bancnet, Megalink and Expressnet, the traditional providers of ATM-only cards have developed ATMs that can pay for goods, loans, insurance, phone credits, tuition fees and utility bills. The newly developed ATMs also enable the cardholder to transfer funds. This offers a detailed picture of the ATM Transactions market; identify factors driving change; and offer five-year assessments on how the market is predicted to develop.
Heartland Payment Systems payments processor inked a five-year contract with ConocoPhillips, expanding its Network Services group to continue to authorize debit and credit card transactions. With this, it will also begin settling Visa and MasterCard credit card transactions at ConocoPhillips-branded locations nationwide. The expanded card processing agreement is being supported by a new partnership between Heartland and Barclays Bank Delaware, the U.S. operation of Barclaycard, which will be delivering the payment network sponsorship services for the ConocoPhillips transactions.
Gemalto digital security has made available to Financial Inclusion Network & Operations (FINO) customers micro-banking with its smart cards. FINO is a business and banking technology platform combined with extensive services delivery channel serving 42 million customers. More than half of India’s adults today are still not served or under-served by the finance sector1, creating an immense need for financial services to be made accessible to India’s 1.2 billion population. FINO’s transactions are validated using biometric authentication while end-user card transaction is approved after fingerprint information is verified through the payment terminal reading and the card embedded software processing at business correspondents of FINO. They move around by bicycle or motorbike to provide door step delivery of services, carrying a portable smartcard reader to help villagers with their everyday transactions.
First Data electronic commerce and payment processing launched its “Global Gateway e4” online payment gateway. Designed to address eCommerce merchants’ business needs, the gateway offers a safe and reliable solution for card-not-present transactions and includes a comprehensive suite of payment services with the ability to expand payment acceptance globally. The First Data “Global Gateway e4” gives merchants a broader set of processing capabilities, a more intuitive user-interface, greater reporting capabilities and simplified integration, documentation and processes to make them more competitive in today’s marketplace. It also delivers multicurrency processing, Level III support for business-to-business procurement cards, fraud tools and an added layer of security with our TransArmor tokenization solution.
Monitise mobile banking, payments and commerce networks worldwide to announce first-half revenues nearly three times higher than a year ago when it publishes its interim results in February. Revenues for the six months to 31 December 2011 are expected to be approximately £15m, compared with £5.3m in the same period a year ago. First-half FY 2012 revenue will also be higher than the £14m revenue generated in the entire 12 months to the end of June 2011. Profitability in live operations, which includes the UK, US and Global Accounts, is expected to show significant growth on levels achieved in the second half of 2011, which in turn grew strongly compared to the first half of last year. Gross margins are expected to be in line with the 62% generated in the first half of last year.
Inside Secure semiconductor solutions for secure transactions and digital identity entered into an agreement with Intel Corporation to provide the company with Inside’s NFC products and technologies. This gives Intel access to INSIDE’s software, firmware and core hardware technology for development of future Intel products. In addition, INSIDE will provide Intel’s Mobile Wireless Group with access to scalable NFC solutions based on INSIDE’s MicroRead(R), SecuRead(R) and Open NFC(TM) products. A third-generation product that sets a new standard for ease of integration, the MicroRead NFC controller offers a broad range of NFC options and provides the capacity to support multiple secure element types, including SIM, SE or SD card, to support multiple business models.
Chase is expanding its nationwide network of ATMs with approximately 800 locations in ARCO-branded ampm locations in California as well as Washington, Arizona, Oregon and Nevada. About 75% of the expansion will be in California, bringing the total number of Chase ATMs in California to nearly 4,000. The new Chase ATMs began arriving in participating ampm stores in late November, and most will be installed by the end of March 2012.
The Bon-Ton switched to Bomgar remote support solutions to provide reliable, secure remote IT support for its associates and POS systems. The IT support team at Bon-Ton needed to eliminate the hit-and-miss support that stunted productivity of their technicians. With 15,000 devices to support, 10,000 of which are POS systems, Bon-Ton needed a solution to securely support a multitude of devices in remote locations.
SCL independent prepaid and foreign exchange point of sale systems provider, has achieved PCI DSS Level 1 Service Provider certification. Now retailers, banks, shopping malls, bureau de change and travel agencies can access a fully approved PCI compliant system to manage the activation and sale of their prepaid, gift and travel money cards as well as foreign exchange services. SCL was assessed by independent Qualified Security Assessor (QSA), Blackfoot UK.
GlobalPlatform has extended its compliance program to validate that a secure product meets the requirements outlined in the new GlobalPlatform Basic Financial Configuration. This technical advancement has been progressed by GlobalPlatform to meet industry demand for a qualification process, which confirms that a financial card product operates within the payment landscape as defined by GlobalPlatform Card Specification and expected by the industry. This will qualify financial products to promote market consistency and ensure long-term compatibility.