MoneyGram money transfer company officially crossed the 20,000 agent location milestone in Africa through its relationship with Express Exchange. In addition to Express Exchange, MoneyGram also leverages its robust agent network with well-respected pan-African banks in Cameroon like Afriland First Bank, Banque Atlantique and UBA. In 2012, MoneyGram announced the addition of First National Bank in South Africa and Ecobank in Nigeria, significantly expanding the company’s presence in Nigeria.
MoneyGram global money transferhas crossed the 20,000 agent location milestone in Africa and is opening a new office in Casablanca, which will initially house ten MoneyGram employees. MoneyGram has been in Morocco since 1998. In June 2011, the company opened its Casablanca office dedicated to taking care of its nine agents in Morocco and those in North Africa and West Francophone Africa to provide MoneyGram products and services for customers across the region. MoneyGram announced the addition of First National Bank in South Africa, an addition that doubled the company’s agent network in South Africa to 1,000 locations, before adding 600 locations in Nigeria.
Advent International private equity firm and the Francois-Charles Oberthur Fiduciaire Group acquired the Card Systems and Identity divisions of Oberthur for EUR1.15 billion. With this, Advent International now controls 90% of Oberthur Technologies’ capital while the founder of the Oberthur group and his family retain a 10% stake in the capital. Oberthur Technologies is specialised in digital security based on smart card technology. It is the world’s second largest provider of security and identification solutions and services, operating in the mobile and payment industries as well as government and corporate markets.
Tapping the more than 6 million Saudi Arabian expatriates as the largest kingdom-wide money transfer network, MoneyGram International
has partnered with National Commercial Bank (NCB) to offer its
international money transfer service through the Bank’s 1,400 ATM
locations. Offering consumers convenience and access to money transfer
services through its network, MoneyGram transfers will be sent using
NCB’s “Quickpay” platform and initially only providing a sending option.
Thanks to the 27% foreign born Saudi Arabian population, remittances
grew to more than $17 billion in 2006. MoneyGram International has been
operating in Saudi Arabia since 1998 and is comprised of 180,000 agent
locations in 190 countries while NCB was established as Saudi Arabia’s
first in 1953.
MasterCard Europe and Europay France will be integrating operations in
France, forming a new and separate company to support bank provisions
of competitive payment services. Slated for completion by April 1, 2008,
the agreement will provide the banks with a direct relationship to
MasterCard Europe for payment services and will be overseen by the
newly appointed GM, Emmanuel Petit. Petit joined MasterCard in 2002
and will be responsible for the integration process of the new
He is also the current Senior VP and GM of the Citibank account for
APMEA and Europe. Having spent 10 years, prior to this, with VISA as
Senior VP and time as VP for International Debit products, Petit has
extensive experience in this role. His advanced education includes a
diploma from the Institut Superieur de Gestion in Paris and a degree in
Business Law from the University of Paris-II Assas. MasterCard Europe
provides customers with payment services while MasterCard processes over
16 billion transactions annually, providing analysis to financial
merchants. Europay France manages the development and adoption by
French banks of MasterCard’s products and manages the performance of
the payments networks for all card payment operators in France.
Atmel Corporation has received the “USB V2.0 Full Speed”
certification for the “AT90SC6464C-USB.” The certification gives customers
the assurance of USB Full-Speed performance when deploying Atmel s USB
secure microcontroller solution on the PC security market addressing
applications such as e-banking, e-commerce, VPN, PKI, secured email and
copy right protection. The dual protocol “AT90SC6464C-USB” secure IC is a
USB device with plug-and-play convenience, while remaining compatible with
the established ISO 7816 infrastructure. The high data transfer rate over
the USB 2.0 Full-Speed interface 12 Mbps combined with a highly secure
architecture gives a very low cost secure IC for emerging applications.
Wave Systems Corp., (http://www.wave.com), a provider of e-commerce, content distribution and security services, Wednesday announced an agreement with Cyber-COMM to license Wave’s EMBASSY technology for the development of a European network of enhanced smart card readers for conducting e-commerce.
Cyber-COMM is a company led by Europe’s largest banks whose mandate is to find technology solutions to solve online consumer security, trust and privacy issues.
Under terms of the agreement, Wave’s EMBASSY technology will be included in the reference platform for Cyber-COMM(R) enhanced smart card readers and PC keyboards. The agreement also allows for Cyber-COMM(R) to sub-license Wave’s EMBASSY technology to third party vendors who will use it to develop “trusted devices” for secure e-commerce.
Cyber-COMM(R) is an active participant of FINREAD, a European Commission project that is issuing public specifications for a common secure smart card reader for e-commerce. FINREAD members include VISA International, EUROPAY International, Groupement des cartes Bancaires (the French consortium for banking smart cards), SIZ (Germany), INTERPAY (Netherlands), BANKSYS (Belgium), BULL and Cyber-COMM(R).
“The European banking community wishes to greatly improve and expand the e-commerce, home banking, and overall online financial services available to its 80 million customers,” said Herve Sitruk, CEO of Cyber-COMM(R). “Consumers need trust and confidence, merchants need a way of guaranteeing payments, and banks need an infrastructure that minimizes the risks of fraud. Cyber-COMM(R), as a member of FINREAD, will help set the standard for secure payments and privacy in Europe. An infrastructure of trust deployed through a consumer-accepted smart card platform will propel Europe into the 21st century and digital commerce.”
“Cyber-COMM(R) represents the leading financial institutions who are responsible for providing consumers and merchants with secure payment systems. Wave is very excited to be part of their plan to address the need for secure payments in cyberspace,” said Steven Sprague, president of Wave Systems. “By providing the trusted computing technology for e-commerce in Europe, Wave is at the foundation of building an infrastructure of trust, which will allow for broad deployment of EMBASSY applications and services to millions of consumers on the Internet.”
“European financial institutions are taking a very aggressive role in partnering with leading technology vendors to provide consumers with an e-commerce infrastructure that will address the obstacles to a digital economy,” said Claude Meggle, director of security for Cyber-COMM(R). “We feel that many of these obstacles, such as a lack of privacy standards and the absence of consumer confidence in online transactions, can be eliminated by Wave’s EMBASSY trusted computing solution.”
Wave Systems Corp.’s EMBASSY Technology
The EMBASSY (EMBedded Application Security System) System is a programmable, open standards based platform for running secure applications and protecting important data and digital identities on individual PCs, peripherals, and other end user devices such as set-top boxes, PDAs, USB ports, etc. Implemented on a secure co-processor, EMBASSY is a software and hardware based solution that provides a trusted environment inside the PC or device for e-commerce transactions while protecting user identities, keys and critical consumer financial information.
For Cyber-COMM(R)., EMBASSY creates a firewall between the smart card reader and the personal computer, which secures multi-level authentication and transaction functions within the smart card reader. This design allows for the use of inexpensive “signing only” smart cards while substantially increasing the transactional security compared to the traditional approach: a passthrough reader where all intelligence and security resides on a smart card. Key features include secure input and secure output and the ability to download information to secure memory. EMBASSY is the first product to support the European requirements for trusted smart card readers.
About Wave Systems Corp.
Founded in 1988, the mission of Wave Systems Corp. is to create the world’s best technologies and services to secure and sell digital information. With the recently completed acquisition of N*Able Technologies, Wave now has a comprehensive line of trusted client co-processor systems. Wave’s technology is an inexpensive, open standards, hardware and software-based device that enables secure transaction processing and distributed information metering in users’ PCs. Embedded in PC hardware and peripherals, set-top boxes and other devices, Wave’s trusted client technology is the foundation for client-based security applications and a new distribution and purchasing model for content and services. This low-cost, secure “system within a system” will enable the personal computer to assume an important new role in the evolving digital economy. By moving secure transactions to the desktop, Wave provides intrinsic value to the electronic commerce process, benefiting PC users, application developers, and hardware manufacturers. For more information, please visit Wave’s corporate web site at [http://www.wave.com].
Cyber-COMM(R) is a company created by the major French Banks, Banques Populaires,BNP, Caisses d’Epargne, CCF, Credit Agricole, Credit Lyonnais, Credit Mutuel,, La Poste, Societe Generale with participation of international organizations (VISA, EUROPAY), French card organizations (Carte Bleue, Cartes Bancaires), manufacturers such as GEMPLUS, Oberthur, BULL and a Telecom operator France Telecom. The first mission of Cyber-COMM(R) is to develop a unique secure payment system over the Internet, using SET protocol and smart cards and, thus, to boost e-commerce. Cyber-COMM(R) acts as the first PKI to certify secure readers and applications that are going to use those readers.
VISA International, Europay International, CEPSCO Espanola and Germany’s ZKA announced yesterday at CTST the creation of a new organization to manage the on-going development and administration of the Common Electronic Purse Specifications. The CEPS Management Consortium will consist of eight industry organizations and will have responsibility for managing and licensing the specifications, determining certification requirements, establishing a CEPS approval authority, promoting the specifications, and establishing user groups. The CEPS specifications were completed at the end of last year and became publicly available in March. Since then, more than 130 requests have been received for license agreements and over 50 agreements have been signed. In total, companies from 22 countries, representing more than 100 million electronic purse cards, have agreed to adopt the specifications. This consortium projects that more than 90% of the world’s electronic purse cards will, in time, become interoperable, including some 60 million ‘GeldKarte’ cards, 30 million ‘Proton’-based cards, and eight million ‘VISA Cash’ cards.
Gemplus and VeriFone teamed up yesterday to offer a smart card-based Internet payment technology based on SET 1.0. The new application, unveiled at yesterday’s Internet Showcase in San Diego, combines Gemplus’ expertise in smart cards, reader !technology, and software modules with VeriFone’s ‘vWALLET’ payment technology. The new ‘vWALLET’ is simple to use consumers launch the software, insert the smart card into the reader attached to the PC and enter a PIN. The solution is fully portable to any Internet appliance configured for ‘vWALLET’. The first implementation is now underway in France as part of the ‘e-COMM’ pilot.