Merchant Warehouse credit card processing was presented with a Stevie Award for Sales Lead Management System of the Year in the fifth annual Stevie Awards for Sales & Customer Service. This includes developing its own home-grown system and process to route and track leads from clicks to calls to closed sales. Subsequently, the company is now writing around 600 more deals a month, has significantly lowered the marketing spend and overall sales close rate has increased 15.
Dialog Semiconductor has acquired SiTel Semiconductor short-range wireless, digital cordless and VoIP technology for something to the tune of $84.5 million. This will add short-range wireless connectivity and VoIP to Dialog’s existing technology portfolio; major global customers in the portable device market; and expands Dialog’s addressable market targeting high growth wireless personal portable devices to over 100 million. SiTel’s industry-leading products are found in a broad range of personal portable applications including digital cordless phones, professional wireless headsets, gaming and portable medical devices. SiTel’s VoIP technology is increasingly used by leading manufacturers of enterprise and residential VoIP connectivity products.
PCI risk managers are implementing new fraud prevention for authentication at the moment the transaction begins. As fraudsters become more sophisticated so must payment processes evolve, but global fraud is at a relatively low and stable rate. This, according to a new Mercator Advisory Group report “The Evolution of Payment System Risk Management: And the Changing Dynamics of Credit Card Fraud Prevention,” also shows fallout from security breaches has stimulated the industry to innovate with a paradigm shift amidst the conceptualization and implementation of payment card data security. The report assesses selected available statistics about card fraud as reported by various reporting bodies around the world, presents the discussion of how fraud prevention paradigms are shifting to incorporate emerging technology in the market, as well as more sophisticated schemes by fraudsters.
U.S. small business confidence remained positive on the 108 HSBC Small Business Confidence Monitor. This demonstrates slightly renewed confidence from the year ago figure of 106 in 4Q/09, but is still not as high as it was in the middle of the year when it reached 120. The U.S. small business economic outlook has retracted over the past six months amid local economic growth concerns, with 80% of small businesses expecting the economy to remain the same or increase in the next six months and those expecting the local economy to grow having dropped to 14% from the 32% in 2Q/10. Subsequently, 76% plan to keep the number of staff unchanged. Additional HSBC findings show the number of U.S. businesses involved in international activities over the next two years jumped from 11% to 16%; 43% see an increase in local economic growth and 33% are planning to hire in 1H/11. Moreover, 32% of U.S. small businesses anticipate an increase in capital expenditure plans over the next six months versus 33 percent in 2Q2010.
FNDS3000 international prepaid processing posted its fiscal 1Q/11, with revenue totaled up from $78,000 to $365,000. These positive results are thanks in part to the number of prepaid cards issued and activated having increased to approximately 35,600- up 52% from the 23,400 active cards issued as of August 31, 2010- to which more than $13million was loaded. Throughout the quarter, FNDS3000 implemented several strategic reorganizational initiatives to streamline senior management; reduce corporate overhead; strengthen its South African business operations; and signed a $2.5 million, non-brokered equity financing agreement that will be closed in four tranches over a nine-month period. Net loss totaled $1,054,000 for a 7.5% decrease from $1,140,000.
For undisclosed terms, Veracity Payment Solutions has signed licensing agreements with WorldNet secure online payment services to domestic and international eCommerce and mCommerce clients. Under the license agreement WorldNet will provide source code and collaborative development support for customization of the WorldNet Online Payment Processing platform for the U.S. market. This allows Veracity to tailor its payment-processing platform to expand in the small to medium sized business sector with customized low-cost solutions.
Dynamics “Card 2.0” technology has been named the 2011 International Consumer Electronics Show (CES) Best of Innovations Winner for Personal Electronics. CES is the worldâs largest consumer technology tradeshow and is sponsored by the Consumer Electronics AssociationÂ®.
âThis is just the beginning. We will continue to deliver innovative and exciting functionality to the consumer.â
Products entered in this prestigious awards program are judged by a preeminent panel of independent industrial designers, engineers and members of the media to honor outstanding design and engineering in cutting-edge consumer electronics products across various categories. Best of Innovations winners are products that received the top score in their respective category.
Dynamicsâ core technology, Card 2.0Â®, is a paper-thin, flexible computing platform in a payment card form factor. The device includes the Electronic Stripeâ¢ — the worldâs first fully card-programmable magnetic stripe. The Electronic Stripeâ¢ can be read at any existing point-of-sale (POS) magnetic stripe reader. The device itself can change any bit of information on this programmable stripe at any given time. The device is as durable as a traditional payment card and will last over four years on a single battery charge. The technology does not require any change to the 60 million 1970s-era magnetic stripe readers or reeducation of its merchant base.
âWeâre humbled to receive this prestigious award from CES and excited at the personal connection our technology made with this best-in-class judging panel,â said Jeffrey Mullen, CEO of Dynamics Inc. âThis is just the beginning. We will continue to deliver innovative and exciting functionality to the consumer.â
Dynamics Card 2.0Â® will be exhibited at the 2011 International CES, which runs Jan. 6-9, 2011 in Las Vegas, Nev. The product will also be included in the Innovations Showcase in the grand lobby of the Las Vegas Convention Center and will also be featured at CES Unveiled: The Official Press Event of the International CES on Tuesday, Jan. 4.
About the Award
The prestigious Best of Innovations awards have been recognizing achievements in product design and engineering since 1976. The Best of Innovations entries are judged on the following criteria:
-Engineering qualities, based on technical specs and materials used
-Aesthetic and design qualities
-The productâs intended use/function and user value
– Unique/novel features that consumers would find attractive
-How the design and innovation of the product compares to other products in the marketplace
-Products chosen reflect innovative design and engineering of the entries. Examples may include the first time various technologies are combined in a single product or dramatic enhancements to previous product designs.
More information on the award can be found at www.CESweb.org/Innovations.
About Dynamicsâ Technology
Countless applications can be realized with the Card 2.0Â® platform technology and are referred to as Payments 2.0Â® applications. Payments 2.0Â® applications include:
MultiAccountâ¢: The device includes two buttons on the face of a card. Next to each button is a printed account number and a light source. A user can select an account by pressing one of the buttons. The card visually indicates the selection by turning ON the light source associated with the selected account. Additionally, the magnetic-stripe information associated with the selected account is written to the Electronic Stripeâ¢.
Hiddenâ¢: The device includes five buttons on the face of a card and a paper-thin flexible display. The display hides a portion of a cardholderâs payment card number. To turn the device ON, a user must enter a personal unlocking code into the card. If the user enters in the correct unlocking code, the card will then visually display the userâs payment card number so that the user can read the number for online transactions. The Electronic Stripeâ¢ is then populated with the correct magnetic information so that the card can also be used with magnetic stripe readers. After a period of time, the display turns OFF and the Electronic Stripeâ¢ erases itself â thus removing all critical payment information from the surface of the card. If the card is lost or stolen, the card is essentially useless.
Redemptionâ¢: The face of the device is printed with a single credit account number and includes two buttons with associated light sources. A user can choose whether to use points or use credit at the point of sale by pressing the appropriate button. The card will then visually indicate the selection by turning ON the light source associated with the selected option. The magnetic-stripe information associated with the payment option is then written to the Electronic Stripeâ¢. The card can then be swiped at any magnetic stripe reader.
Dynamic Credit Cardâ¢: A unique security code is written to the Electronic Stripeâ¢ every time the card is activated. A display may be added to the card such that a unique security code is also displayed every time the card is used. These displayed and in-stripe security codes eradicate fraud associated with stolen, or âskimmed,â intangible card numbers.
About Dynamics Inc.
Dynamics Inc. was founded and seeded in 2007 by Jeff Mullen, its CEO. Dynamics produces and manufactures intelligent powered cards such as advanced payment cards. Focused on introducing fast-cycle innovation to top card issuers, the company’s first commercial application is the world’s first fully card-programmable magnetic stripe for use in next-generation payment cards. The company has won many of the world’s most prestigious international business plan competitions, including the Rice Business Plan Competition, Carnegie Mellon McGinnis Venture Competition and the University of San Francisco Business Plan Competition. The company recently won DEMOgod and the $1M People’s Choice Award at Demo Fall 2010 and Best of Show at FinovateFall 2010. Dynamics is backed by Adams Capital Management and is headquartered in Pittsburgh, Pa., with offices in Silicon Valley and New York City. More information on the company, its technology and applications can be found at www.poweredcards.com.
Visa is designating its “Infinite” card as the official payment card of the 2011-2013 seasons at the Shaw Festival theater companies. This will provide Visa “Infinite” cardholders exclusive access to the best seats in the house for the upcoming season between December 4 and 23. During this time, cardholders have the opportunity to order tickets before the general public, simply by contacting the Shaw Festival Box Office and using their Visa Infinite card. When they purchase tickets or a Shaw Festival membership will receive 20% off Shaw Festival – ‘The First 50 Years’ commemorative book celebrating the Shaw Festival’s history, which is celebrating its 50th season in 2011.
Reliant Security PCI DSS compliance technology solutions for retail merchants Posted strong numbers for 1H/10. Reliant Security provides an integrated products and services platform for merchants to meet PCI DSS through its “Managed PCI System (MPS) Redbox” solution. The “MPS Redbox” adoption for retail merchants hit an all time high for a subsequent revenue all time high for a third straight year of increasing sales. The latest customers to adopt “MPS Redbox” include Urban Outfitters; Hudson Group; The Salvation Army Family Stores; and Total Wine & More. The “MPS Redbox” is an open architecture appliance designed to address all of the PCI technical requirements so merchants can achieve a successful PCI audit, delivering enhanced dynamic configuration for swift deployment across thousands of remote store locations.
Credit Sesame online tool that helps control credit and save money with smarter loans has launched to help people make better choices about their own credit and debt. Using technology and analytics previously only available to big banks, Credit Sesame creates 5,000 scenarios to find the best-suited loans for each user and lets people apply directly for those loans online. Credit Sesame finds that the average homeowner can save up to $600 each month by simply optimizing their current loans. Credit Sesame’s easy to use website only takes a couple of minutes to register for and gives a lifetime of benefits. Consumers get a complete picture of their debt and credit in a way they can use and understand. Users learn what is good and bad about their situation, and receive unbiased advice on how to improve their financial picture instantly with pre-qualified, objective and forward looking options online.
The recession has produced a risk-adverse cautious consumer whom prefer to pay-now with cash, checks, debit, prepaid and gift cards at a higher rate. This leaves credit card use plummeting, given among the 11% of consumers with an increased ability to save, 46% have decreased the use of their credit cards and 51% have decreased their spending on discretionary goods. This, according to the Javelin Strategy & Research report “Payment Card Issuer Strategies 2010: The Rise of the Cautious Consumer,” also shows credit card use among consumers decreased 31% between 2007 and 2009 from 87% to 56%, respectively, and is slated to fall below 50% while 80% of consumers cited âno annual feeâ as the most important criterion when choosing a new credit card.
A new Javelin Strategy & Research report, â2010 Mobile Banking Scorecard â Shift in Smartphone Ownership Calls for a Shift in Focus: How 19 Top Financial Institutions Compare on Mobile Channel Retail Delivery,â has rated USAA Federal Savings Bank âBest in Classâ in m-banking for the second year in a row. Javelin determined that 19 of the top 30 largest financial institutions (FIs) offer mobile banking. They judged and scored those 19 in five categories of criteria: marketing and security messaging, mobile access, general mobile banking features, short message service (SMS) features and security.