The quest for the best security with privacy considerations and anonymity may have been discovered by DC-based Anonos. The company has been issued U.S. Patents for its pioneering solutions to architecturally enforce controlled conditions capable of satisfying even the most stringent U.S. and EU data privacy regulations.
Datacard has been positioned by ABI Research as one of the top leaders in their 2014 competitive assessment for Government and Healthcare ID: Smart Card and Legacy Credentials .This vendor matrix represents ABI Research’s ranking of the leading smart card and legacy credential vendors active within the government, healthcare and citizen ID ecosystem. The vendors were assessed on implementation and innovation – including global reach, breadth of services offered, multi-application capabilities and support of market convergence, level of security, e-government services, among others.Datacard Group was ranked as a leader due to the high assessment rating it received for its extensive distribution channels and global reach, its market share of e-government ID implementations around the world, and continued commitment to offer innovative technologies to the government sector. To-date, Datacard Group is implemented in 18 of the 20 largest e-government programs and has over 400 government projects around the world. Additionally, roughly 165,000 passports, 10 million credentials, and 5 million smart cards are issued daily using the company’s solutions.
SIA-SSB has won the tender called by the Bank of Italy for the
management of the Interbank Computerised Archive of bad
cheques and payment cards (CAI – Centrale di Allarme Interbancaria).
The total value of the five-year contract with a possible further
three-year extension, is EUR23,174,800. Bank of Italy’s interbank computerised archive of bad cheques and
payment cards (CAI) contains data on irregular bank and postal
cheques and payment cards. SIA-SSB will manage the entire IT system at CAI
headquarters, controlled by the Bank of Italy, as well as the
interconnections with the remote sites (local archives) located at the
notifying bodies’ premises (banks, Poste Italiane, supervised financial
intermediaries issuing payment cards, prefectures through the Interior
Ministry, Judicial Authorities through the Ministry of Justice).
Also planned are additional new functions, among which the link to
already available network infrastructures participating in SITRAD, the
system for electronic data transmission, and the strengthening of
“disaster recovery” procedures. The Italian Interbank Network will guarantee the interconnection between
CAI headquarters and the remote sites at the notifying
bodies (banks, Poste Italiane, supervised financial intermediaries
issuing payment cards, Prefectures, Judicial Authorities)
OpenTrust security software publisher has made available its “OpenTrust
Smart Card Manager.” Compatible with popular smart cards and tokens,
offering features with improved support for multiple certification
authorities and third-party applications, “OpenTrust Smart Card Manager”
provides a life cycle management of digital credentials, applications
and cryptographic devices. It features a web-based GUI used to centrally
manage the issuance, re-issuance, post-issuance updates, revocation, and
recycling of the cards and tokens themselves along with all associated
data and digital identities. Multiple applications and user credentials
are loaded onto one or several cryptographic devices and updated centrally.
The PCI Security Standards Council has launched a QA program for
Qualified Security Assessors and Approved Scanning Vendors. The new
program was designed to provide QSAs
and ASVs with a set of requirements that helps ensure they provide
consistent, quality validation and assessment services to merchants and
service providers. Through the program, the Council and assessor
community will uphold the best interest of the assessor client; adhere
to validation requirements among the assessor company; adhere to
validation requirements among the assessor employee; maintain consistent
assessor procedures and reporting; interpret the PCI standards
appropriately as applicable to the clientâs systems & environment;
remain current with industry trends and PCI SSC updates in the
assessor community; report all opinions as factual, documented and
defendable, and; maintain a positive relationship between the assessor
and PCI SSC. Participation in the program will be required for the
Councilâs registered QSAs and ASVs, in order for them to retain the
ability to conduct PCI assessments.
The New York City Taxi and Limousine Commission has launched an undercover initiative to measure the compliance of medallion taxicab drivers for accepting credit cards. Drivers who refuse to accept a passenger’s credit card will face a fine between $150 and $350. Drivers will also be fined for using telephone while operating a taxicab and face a $150 fine if they are not courteous to passengers. Effective October 1st, upon their next scheduled inspection all New York taxis were mandated to have technology-based customer service improvements that will include credit/debit card acceptance and an interactive electronic passenger map and information screen. The TLC is the agency responsible for the regulation and licensing of almost 200,000 yellow medallion taxicabs and for-hire vehicles, their drivers, and the businesses that operate and support their industries.
The IRS yesterday reported that it has been auditing 63 credit counseling agencies. To date, the audits of 41 organizations, representing more than 40% of the revenue in the industry, have been completed. All of the completed audits have resulted in revocation, proposed revocation or other termination of tax-exempt status. The IRS also noted that it has also tightened up its review of new applications by credit counseling firms for tax-exempt status. Since 2003, about 100 applications have been reviewed but only three have been approved. The IRS is also sending compliance inquiries to each of the remaining 740 known tax-exempt credit counseling agencies not already under audit.
The Consumer Education Research Society has been asked by
the Reserve Bank of India to rate the services provided by credit card
issuers. The Ahmedabad-based consumer rights organization has protested
the unilateral and unfair terms and conditions made by some
card-issuing banks. In January, the RBI constituted a Working Group to
promote and protect consumer interest in the matter of credit cards by
banks and credit card companies. The CERC was invited to participate.
The goal of the “Working Group for Regulatory Mechanism for Cards” was
to suggest the type of regulatory measures to be introduced for plastic
cards (credit, debit and smart cards), keeping in mind the need to
encourage their growth in a safe, secure and efficient manner. The
report was released on April 25.
The cumulative total stockholder return value of First Data’s stock increased by 74% since December 1999, compared to a slight loss for companies in its peer group and by the “S&P 500 Index.” FDC’s Chairman and CEO, earned $5.37 million last year, compared to $4.81 million in 2003. Charles Fote also received $3.3 million in stock options for 2004. Scott Betts, President/Enterprise Payments, earned $1.12 million last year, a 47% gain over 2003. Betts also received $1.3 million in stock options. Michael D’Ambrose, EVP/HR, received $1.23 million for 2004, a 19% increase over the prior year. D’Ambrose also received $1.3 million on stock options. Christina Gold, President/Western Union Financial Services, earned $1.12 million in 2004, compared to $1.02 million for 2003. Gold also received $1.3 million in stock options. Pamela Patsley, President/First Data International, earned $2.3 million last year compared to $2.15 million in 2003. Patsley also received $1.3 million in stock options. First Data reported net income for full-year 2004 of $1.88 billion, compared to $1.41 billion for 2003. For complete details on First Data’s latest results, visit CardData ([www.carddata.com][1]). (CF Library 1/27/05)
[1]: http://www.carddata.com
The cumulative total stockholder return value of MasterCard’s stock has soared by 63% since March 2003, compared to a 47% gain for the “S&P Financial Index” and a 43% gain by the “S&P 500 Index.” In light of the performance, MasterCard paid its top executive nearly $9.3 million in total compensation last year. CEO Robert Selander receives a base pay of $800,000 annually but earned a $2.5 million bonus for 2004 compared to $1.9 million for 2003. Noah Hanft, General Counsel and Corporate Secretary, earned $1.9 million in 2004, compared to $1.45 million in 2003. Christopher Thom, Chief Risk Officer, received about $5 million compared to $4.3 million in 2003. However, two top executives received lower total pay last year. Alan Heuer, COO, received total compensation of about $5.3 million in 2004, down 31% from 2003. Jerry McElhatton, President of Global Technology and Operations, earned $4.0 million last year, a 37% drop from the prior year. McElhatton is in the process of retiring from MasterCard. MasterCard reported a profit for full-year 2004 of $238 million, compared to a net loss of $386 million for 2003. For complete details on MasterCard’s latest results, visit CardData ([www.carddata.com][1]). (CF Library 9/23/04; 2/7/05)
[1]: http://www.carddata.com
Charming Shoppes’ Spirit of America National Bank has closed a deal to acquire 1.8 million Catherines private label card accounts from Citigroup for $57 million. In 1998, Hurley State Bank, now Citibank USA, signed an agreement to run the Catherines store card program. Charming Shoppes purchased Catherines in 2000. On January 28, 2004, Catherines, Inc. exercised its rights to terminate the agreement and negotiate a definitive purchase agreement. On March 17th of this year, Spirit of America National Bank signed the purchase agreement. As of March 21st, the credit card accounts have been transferred and converted to Spirit of America National Bank’s processing system.
Washington, DC-based Consumers for Responsible Credit Solutions has taken on American Express and the Consumer Federation of America for conducting a study on the value of nonprofit credit counseling agencies to creditors. The CRCS says the study is being carried out by a creditor-sponsored research group. The CRCS says the solicitation sent out to credit counseling agencies indicates the American Express/CFA study will gauge the success of credit counseling as to how effective they are in getting consumers to pay back creditors. The solicitation states: “Effectiveness of counseling and financial education will be gauged by examining the creditworthiness profile of counseled clients at the time of the intake interview, and then subsequently over time, possibly for up to 2 or 3 years. In addition, for DMP clients, effectiveness will also be measured by repayment experience on the plan, and subsequent repayment behavior for those that leave the agency-administered DMP. Credit bureau data will be essential to support various measures of creditworthiness. A major credit reporting agency has agreed to cooperate in providing these data for clients in the sample.” AmEx and the CFA is offering up to $40,000 to agencies to participate.