2C2P payment solutions and Myanmar Citizens Bank, one of the pioneer private banks in Myanmar, have officially announced the launch of the mPOS solution, iACCEPT, in partnership with Myanmar Hotels International Group, to accept MasterCard and Visa international payment cards. iACCEPT is a 2C2P owned innovative mobile solution that transforms iOS and Android smart phones into a mobile point of sales system. iACCEPT will allow Inya Lake Hotel and The Strand Hotel, both luxury hotels under Myanmar Hotels International Group, to accept payments through MasterCard and Visa inside the guest room, effectively providing in-room express check out facilities for guests. iACCEPT solution runs on the same backbone of 2C2P’s PCIDSS Level 1 payment platform, so it is as secure as a traditional POS terminal.
VISA International European Union has inked a contract to offer Fair,
Isaac’s next-generation fraud management technology to all VISA members in
26 European countries. VISA EU will offer Fair, Isaac’s
“Falcon Fraud Manager” and “Fraud Predictor with Merchant Profiles”
solutions. “Falcon” and “Fraud Predictor” offers a leap in fraud detection
through the Falcon patented neural network technology and cardholder
account information, leveraging “Fraud Predictor’s” merchant-specific data
and patented profiling technology to better identify multiple types of
payment card fraud. The VISA EU solution will be deployed utilizing the
newly released “Falcon Fraud Manager Version 5” technology architecture,
which now provides a thin-client Graphical User Interface. VISA EU members
manage more than 208 million payment cardholders.
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.
SchlumbergerSema reported 4Q/01 operating revenues of $953 million. Cards revenue of $173 million were up 18% compared to the prior quarter and flat year-on-year. Demand in Europe for banking smart card solutions, and major banking contracts for consulting and systems integration for the deployment of EMV standard smart card transaction systems in Brazil and UK, contributed to revenue growth in the finance market. Revenue gains were partially offset by strong SIM price competition in Asia. eTransactions revenue growth was up 31% year-on-year. Driven by the introduction of the euro, off-street parking and financial system revenues reached a record high level. SchlumbergerSema also completed the second successful technical rehearsals in Salt Lake City for the complex systems and integrated technologies that will be used during the ‘2002 Olympic Winter Games’. For complete details on Schlumberger’s 4Q/01 results visit CardData ([www.carddata.com]).
WildCard Systems, the leader in delivering stored-value e-payment solutions, announced it has received $14.5 million in venture capital funding. Sutter Hill Ventures lead the equity investment in this latest round of funding with participation from management and other existing investors including WW Ventures, Cleveland Pacific Equity Ventures, LLC, and Meriken Nominees. With this round of financing, WildCard Systems is well capitalized to continue both the development of new product solutions and the build-out of its infrastructure to meet the demands of its rapidly growing business.
“With this solid backing from our investors, WildCard Systems can continue to enhance the scalability, reliability, and security of our systems,” said Larry Park, CEO of WildCard Systems. “WildCard has seen outstanding adoption of stored value programs across a broad range of vertical markets. We expect our recent innovations in risk management, customer service and program enrollments to fuel future growth.”
WildCard Systems is a technology leader in complex financial transaction processing for stored-value cards, web-based applications and custom software development. The company’s software delivers scalable solutions that enable its customers to leverage “host-based” smart card applications in a wide variety of vertical markets. WildCard’s proprietary software delivers a full range of stored value services from authorization and settlement to administration and marketing. “WildCard Systems has the largest and most diverse penetration of the rapidly growing `open network’ stored value payments market,” said Tench Coxe, Managing Director, Sutter Hill Ventures. “WildCard’s technology platform and management team are well positioned to bring the scale and product sophistication required to capitalize on the robust growth potential of the market.”
The new capital will be used to continue to enhance WildCard’s transaction processing platform and develop product features for its wide variety of commercial and consumer stored value products. WildCard Systems offers stored-value products for insurance, retail, membership, student and employer markets. Well known for its development of Visa Buxx, a consumer-facing stored value product, WildCard Systems has implemented sophisticated end-to-end solutions in the government and commercial sectors as well. WildCard’s new payroll product offering, for example, is considered the most robust available.
“WildCard’s clients require stored-value solutions that are delivered on a platform that is scalable and 100% available,” said Wallace P. Whitley, former CEO of NaBanco and Managing Director of WW Ventures. “This team includes individuals who have built and managed systems that support some of the highest-level payment transaction processing demands in our industry.”
About WildCard Systems
WildCard Systems is an e-payments company that is the technology leader for electronic stored-value accounts and related Web-based software. Stored-value (prepaid) type products, particularly those designed to make purchases on the Internet, represent one of the biggest untapped markets for consumer payments. WildCard’s secure e-transaction platform is supported by a full range of services to deliver a complete host-based stored-value solution for a wide range of vertical markets. The company has been selected by Visa, USA as a Preferred Processor for stored-value payment systems. WildCard’s clients include leaders in each of its vertical markets and some of the top financial institutions in the country. Founded in 1997, WildCard Systems is a privately held, venture capital backed company. The company is headquartered in Sunrise, Fla. with offices in Silicon Valley, Orlando and Atlanta. For more information, visit [http://www.wildcardsystems.com].
About Sutter Hill Ventures
Sutter Hill Ventures has financed technology-based start-ups and assisted entrepreneurs in building market-leading companies since 1962. Through their decades of experience, they have developed strong industry networks, considerable operating and venture capital experience, and an understanding of the challenges that early-stage and high-growth companies face. Sutter Hill Ventures offers expertise in developing business strategy and partnerships, building management teams, and financing companies in both public and private markets. For more information, visit [http://www.sutterhillventures.com]
TransactPlus announced availability of the TransactPlus Network, a global network that will enable companies on the public Internet to exchange business transactions reliably and safely with customers, partners and suppliers.
TransactPlus operates the first Internet-based transaction delivery network (TDN) to support the inter-enterprise exchange of structured business documents such as purchase orders, price requests, credit check requests or catalog updates. The TransactPlus Network is based on technology developed at J.P. Morgan, whose own TDN delivers $800 billion of business transactions every day, totaling nearly one billion transactions to date without a single failure.
Historically, companies have relied on proprietary value-added networks (VANs), such as electronic data interchange (EDI) VANs, in order to deliver transactions between companies. However, these networks fail to support many types of business interactions, present complex integration challenges, and are extremely costly to operate. Based on Internet-era technology and economics, the TransactPlus Network provides 100 percent reliable and secure transaction delivery — over the Internet — with dramatically lower costs and complexity than VANs.
“Transactions are the language of the emerging B2B economy,” said Allan Lees, president and chief executive officer of TransactPlus. “Every transaction represents an opportunity to improve the way our businesses work together, yet the Internet has no infrastructure to support reliable transaction delivery. TransactPlus is now providing the infrastructure that is necessary for the Internet to become the dominant platform for transacting business.”
Ross Altman, research director, Gartner Group, said, “As enterprises connect to multiple trading partners and to several e-marketplaces, they’ll need a layer of network and application services on top of the Internet to provide the security, availability, and assured delivery that these B2B transactions require. While this software services layer can be implemented on a point-to-point basis, a third-party Transaction Delivery Network will provide a more attractive, many-to-many solution.”
About the TransactPlus Network
The TransactPlus Network is an Internet overlay consisting of transactional messaging application services, built on a physical network infrastructure, and supported by 24×7 Network Operations Centers. Customers who plug into the network gain access to:
— Trusted Transaction Delivery. The TransactPlus Network supports reliable, secure and manageable online commerce through guaranteed once-and-once-only message delivery, end-to-end public key infrastructure (PKI) security, directory and administration services.
— Online Business Continuity. TransactPlus provides a comprehensive set of message queuing, replay and non-repudiation services to eliminate business downtime, even in the event of a customer system failure or online dispute.
— Managed Global Infrastructure. The 24×7, global TransactPlus Network Operations Centers and Customer Care Centers proactively manage performance, availability and customer support to ensure 100 percent availability and security while eliminating the need for customers to build or operate their own infrastructure. Customers have browser-based access to manage their profiles and partner authorizations, as well as track, audit and replay transactional messages.
TransactPlus offers its full set of services through scalable service level agreements ranging from its basic offering of guaranteed delivery over the public Internet to its premium offering of guaranteed near real-time delivery over a dedicated TransactPlus infrastructure.
Companies seeking to establish secure, reliable online business relationships will benefit from the TransactPlus Network. Global 2000 companies gain a compelling alternative to expensive VAN or virtual private network (VPN) solutions, while internet-based businesses — such as ASPs, net marketplaces and eService providers — can efficiently outsource their transactional infrastructure to TransactPlus.
“As a globally managed application for order routing and management, S1’s Global ICE connects a network of broker dealers to their institutional customers, exchanges and other services and content,” said Nick Davidge, vice president, investments applications for financial application service provider S1 Corporation (Nasdaq: SONE). “To support the massive scale of transactions we enable, we require a global, 100 percent reliable, and 100 percent secure network for transaction delivery. We’re a customer of TransactPlus because we believe its approach to simplifying and lowering the cost for guaranteed transaction delivery represents the right approach for S1 and its customers.”
“As a net marketplace for bandwidth procurement, Acurion is dramatically improving efficiencies in network services procurement,” said Cesar Vallejos, CEO of B2B bandwidth marketplace Acurion. “Conducting our transactions over the TransactPlus Network would enable us to exchange business critical transactions with our customers, over the Internet, without the cost, complexity and time involved in building out our own messaging and security infrastructure.”
TransactPlus provides per message and bandwidth-based pricing with predictable, tiered subscriptions. Entry-level service can cost as little as a few pennies per transaction and even the highest-level service level agreements can cost less than five percent of home-grown solutions.
TransactPlus, Inc. operates the TransactPlus Network: a transaction delivery network (TDN) providing the foundation for reliable and secure delivery of business transactions over the Internet. Backed by global, 24×7 operations support, the company’s proven network provides guaranteed once-and-once-only transactional messaging, PKI security, directory and administration services. TransactPlus dramatically lowers the cost, complexity and time to build and scale B2B relationships with customers, partners and suppliers by providing a 100% outsourced B2B computing infrastructure.
Launched in April 2000 as a spin-off from J.P. Morgan, TransactPlus has received significant technology and $10 million cash investments from J.P. Morgan, and receives ongoing technical and business support from LabMorgan, J.P. Morgan’s e-finance arm. TransactPlus, Inc. is headquartered in San Francisco, California with offices in New York, Boston and Washington DC. For more information, please visit [www.transactplus.com].