ArcSight cybersecurity and compliance has partnered with Vigilant business-aware managed security monitoring services to strengthen Heartland Payment Systems IT security monitoring initiatives. With this, Heartland selected the ArcSight “Enterprise Threat and Risk Management” (ETRM) solution for enterprise visibility into potential threats and risks across its IT infrastructure and engaged Vigilant as its services partner to implement real-time threat detection capabilities. The solution will build customized use cases and role-based reporting focused on enterprise-wide user activity monitoring and malware detection. This further confirms the Heartland commitment to changing how data is protected and enhanced its systems to better flag anomalies in real time and establishing best practices that extend beyond existing industry requirements to protect payment card data.
The impact of a continuing weak economy coupled with high unemployment give rise, resulting in a possible âdouble-dipâ recession, could be very undesirable. Consumer credit would continue to fall, with the most recent revolving credit numbers already down below an important $830 Billion level (about 90% of that being card) by as low as 20% deeper. This, according to RK Hammer credit card consultancy, shows 2009 saw $13.9 Billion pre-tax card profits, down fully two-thirds from 2008 levels and 2010 will still be a tough one for many in the card business. Also With unemployment stubbornly high above 9%, and so far no effective plans or policies put forth inside the Beltway to deal with it, bankruptcies are up at the time the card business needs this to stabilize or drop. Roughly half of all credit card loan losses come from delinquencies, the other half from bankruptcy filings. A circular-risk pattern has become pretty clear. Subsequently, issuers need to create fee income, charging for services previously provided free and raising fees for existing fee-based services.
CashStar co-founder and CEO David Stone will deliver a presentation about the changing role of gift cards in the digital age titled âEngaging the New Digital Corporate Culture: Making the Business Caseâ at the Incentive Gift Card Councilâs (IGCC) Emerging Markets Summit Sessions in Baltimore, MD. The members-only sessions provide a dynamic platform for gift card and incentives professionals to share ideas and develop strategies for selling and marketing. Stone will provide his presentation that sets the stage for the audience on how they can connect with their consumers digitally, outlines the digital gift card market, highlights and defines best practices and, most importantly, arms attendees with proof points to help them build a business case for digital gift cards within their organization.
Trustwave security and compliance solutions experts are set to deliver
multiple briefings at “Black Hat 2010” in Las Vegas, July 28 through 29.
Delivered by members of “SpiderLabs” security team at Trustwave
responsible for incident response and forensics, penetration testing and
application security, and security research. David Byrne and Charles
Henderson will deliver “GWT Security: Donât Get Distracted by Bright
Shiny Objects,” which will look at common vulnerabilities in Googleâs
Web Toolkit (GWT). Nicholas Percoco and Jibran Ilyas will present
“Malware Freak Show 2010,” which will expand upon their initial Malware
Freak Show presentation delivered at DEFCON 17. Steve Ocepek and Charles
Henderson will deliver “Need a Hug? Iâm Secure,” which will look at the
ways manual penetration testing can help an organization protect their
environment from 0-day attacks, as well as more common vulnerabilities
like SQL injection and cross-site scripting (XSS).
CO-OP Member Center of CO-OP Financial Services is offering credit union members its âopt-inâ solution for overdraft protection. The CO-OP Member Center will report customer requests and relevant accounts to be covered to the credit union, which then generates a written communication to the customer confirming that they have opted-in for overdraft protection. This CO-OP Member Center service is performed without any set-up fees and is available immediately to existing clients. Additional benefits of CO-OP Member Center include increasing profits by growing lending operations.
Heartland Payment Systems payments processor has installed its “E3” terminals at 1,020 merchants since commercially launching the industry-leading end-to-end encryption technology on May 24. The “E3” technology is designed to protect cardholder credit and debit card data, implementing layers of security, employing both tamper-resistant hardware and AES (Advanced Encryption Standard) encryption, the most secure encryption algorithm available. E3 encrypts all Track 1 and 2 data read from the cardâs magnetic stripe or manually entered so merchants never have access to sensitive card data and never risk storing card numbers or transmitting them through their systems or networks. E3 also securely automates the process of changing the encryption keys that convert sensitive account information to encrypted data. With no changes to a merchantâs daily routine or the speed of transactions, “E3” terminals include EMV/chip card technology capabilities â which may be coming to the United States.
With the number of people seeking local information on their mobile device having grown 51% last year, mostly through downloaded apps, Citi Cards is making available its “Citi Shopper.” Available in a free âbeta versionâ location-based mobile application through citishopper.citi.com, “Citi Shopper” delivers local offers and deals on products from electronics to apparel; compares prices; provides maps to nearby retailers; as well as reminds Citi cardmembers of offers and benefits specific to their Citi credit cards. It searches inventory information of over two billion products to find products and offers at over a thousand retailers including some of your local favorites, compares prices, and maps the nearest stores where the searched item is in stock. With it, consumers can browse deals and promotions at major local and online retailers; be reminded of Citi credit card-specific rewards, benefits and offers; and sort products by price or distance.
MasterCard is urging House and Senate conferees to reject the Dick Durbin amendment to the recently passed Financial Regulatory Reform Bill. The amendment, says Mastercard, will hurt the people and businesses it is supposed to protect. Consumers, community banks and credit unions will all be forced to pay more as a result of merchants attempting to increase their profitability if the Durbin amendment becomes law. According to Mastercard, the legislation is no more than a means of getting American consumers to pay big-box merchantsâ fair share for the benefits these merchants get from electronic payments. The company looks to the Australian market as a direct example, where consumers saw their annual fees rise significantly, rewards shrink, and no evidence merchants lowered prices to reflect the cut in fees after the government put artificial controls on interchange fees.
The National Retail Federation is urging the Senate to approve
amendments to financial services reform legislation that would direct
the Federal Reserve to determine âreasonable and proportionateâ
transaction fees for debit cards. This would make it easier for merchants to
reward customers who pay by cash, check or debit rather than credit
card. Merchants estimate that they paid more than $10 billion in fees
on debit card transactions last year . Debit card fees are part of the
$48 billion in interchange fees collected by Visa and MasterCard banks
each year. Averaging about 2 percent for credit cards and 1 percent for
debit, interchange is a fee charged to merchants each time a customer
swipes a card to pay for a purchase. Amendments to S. 3217, the Restoring American Financial
Stability Act of 2010, the financial services reform legislation being
debated in the Senate, require the Federal Reserve
to establish âreasonable and proportionateâ interchange fees for debit
transactions, taking into consideration both the
actual cost of processing the transactions and the fact that paper
checks are paid at face value rather than being subject to interchange.
Credit unions and banks with assets under $1 billion would be exempt.
would prohibit card companies from interfering with merchantsâ ability
to offer a discount or other benefit to customers who pay by cash, check
or debit card rather than credit card.
ChamberofCommerce.com has signed an exclusive online marketing partnership with Merchant Warehouse to offer more than one million ChamberofCommerce.com small businesses credit card processing services. Merchant Warehouse was founded to offers merchant accounts and credit card machines at reasonable prices. They have received multiple awards for service and innovation including the Electronic Transaction Associationâs (ETA) first annual âISO of the Year Awardâ for 2009. In addition to its merchant account solutions, Merchant Warehouse also provides businesses with credit card machines from leading brands like VeriFone and Hypercom along with their own free processing solutions for smartphones, POS and Ecommerce platforms. Merchant Warehouse provides over 80,000 merchants later technology payment initiatives.
Citi now offers consumers ongoing fuel savings and a way to
manage fuel and related automotive purchases with its “Shell Drive
for Five Card”. Providing cardholders the ongoing opportunity to save 5
cents per gallon on Shell-branded fuel, including Shell diesel, when
they purchase at least 45 gallons each month, up to 100 gallons, the
“The Shell Drive for Five Card” offers numerous benefits. These include
pay-at-the-pump convenience, separate tracking of
gasoline purchases, online account management and payment features, ATM
cash access, flexible revolving terms or pay in full with a 25-day grace
period, $0 liability for unauthorized charges and Citi Identity Theft
Solutions protection feature. In addition to fuel purchases, the Shell
Drive for Five Card can be used to pay for convenience store purchases,
car washes, or other products and automotive services offered at over
14,000 Shell stations nationwide.
PreCash payment solutions has introduced its “Billocity” expedited bill routing and delivery service. Offering bill payment processors easier, faster and more profitable payment delivery “Billocity” uses virtual card accounts to help processors add revenue and deliver a better value to consumers and billers. An additional way to route expedited payments through a billerâs Internet and telephone channels using virtual payment card accounts, the bill routing solution accelerates average payment-delivery time, delivering consumersâ payments to avoid late fees and service disruption. “Billocity” offers payment for billers in the insurance, utilities, cable/satellite, wireless and local phone industries. PreCash processes about $1.6 billion dollars in payments annually across all product lines.