The Consumer Financial Protection Bureau nailed of the nation’s two largest debt buyers and collectors for using deceptive tactics to collect bad debts. The Bureau found that Encore Capital Group and Portfolio Recovery Associates (PRA) bought debts that were potentially inaccurate, lacking documentation, or unenforceable.
Gemalto will showcase its extended range of Ezio tokens for eBanking authentication and transaction signing at Cartes 2012. The tokens combine enhanced security with outstanding convenience to support the growing needs for instant and easy access to online banking services. Used in conjunction with the Ezio Library software development kit, these ergonomic devices deliver an easily integrated and flexible response to the need for protection during eBanking and eCommerce transactions. Online self-service banking is increasing in popularity on top of face-to-face services – enabling financial institutions to increase efficiency and boost growth.
A Capital One Canada survey has found that since the end of tax season,
39% of those polled want to forget about finances until tax-time next year
and 41% would rather clean out their basement or garage than think about
finances. Only 29% said they would review their credit cards to make sure
they are getting the best rates and fees. Albertans, however, are more
to take a hard look at credit options at 32% while Quebecers are least
at 20%. Experts say, however, that spring is a good time for people to
evaluate finances and take control of their situation. Only 16% of
are attracted to offers with promotional awards and only 2% are interested
in offers with a time-limited introductory rate. Also, 26% buy in bulk, 17%
look for free samples and meals at work or other functions, 4% of Canadians
say they “mooch” off friends and family and 69% use and stick to a budget.
Toyota Canada and the Royal Bank have introduced a special
time-limited promotion to help Canadian consumers who are in the market
to purchase or lease a new vehicle. Until the end of the summer, “RBC VISA” cardholders can use their rewards points to help with the down payment on a new Toyota car or truck purchase or lease, up to a maximum of $3,500 at Toyota dealerships across Canada. “RBC Rewards VISA” cardholders are also automatically entered into a
contest to win a 2006 Toyota Prius gasoline/electric hybrid, by
redeeming points for any of the more than 275 merchandise items from the
2006 “RBC Rewards” catalog.
ActivCard has rolled-out two solutions to thwart phishing-related fraud that is currently plaguing the credit card and general banking industry. The solutions are token-based or public key infrastructure-based, ensuring that a customers’ password cannot be stolen or used without their knowledge. The “Token Protected Online Consumer Banking” solution adds immediate password protection for online customers through a time-limited, one-time use password. The second solution uses PKI, the ActivCard USB Key, smart cards, and “ActivClient” middleware to support high value, high risk transactions for commercial banking customers.ActivCard is based in Fremont, California.
San Francisco-based Wi-Fi specialist, Sputnik, has introduced a “Plug-In for Pre-Paid Cards” that enables hotspots to offer customers pre-paid cards for network access. The new Sputnik AP 160 is a low-cost 802.11g wireless access point that offers increased bandwidth over 802.11b-compliant equipment, allowing providers of wireless hotspots to support more users on each device. Sputnik Inc. provides secure, managed Wi-Fi network software and hardware for the hotspot provider market. Innovative Sputnik software provides enterprise-class network management for low-cost wireless access points.
Zaxus has extended the capability of its Personalisation Preparation Process card issuance system in addition to Visa Smart Credit Debit and Visa Cash smart card applications. The new P3 system from Zaxus now supports a wider range of chip card applications with the flexibility to offer a range of different products to suit a variety of customer needs including M/Chip Select and M/Chip Lite applications. M/Chip Select is the MasterCard/Europay full credit/debit implementation based on the MULTOS multi-application card. M/Chip Lite is the MasterCard/Europay entry-level credit/debit scheme that is based on a single application low-cost smart card.
Aimed at the new breed of multi-application smart cards, the P3 system allows card issuers to use platforms such as MULTOS and Visa Open Platform (VOP) as the basis for new ranges of card applications. Issuers are no longer limited to single application cards, P3 from Zaxus allows issuers to load a number of card applications side-by-side and possibly even retail chains to load loyalty applications as well.
The introduction of multi-application cards, such as debit/credit and electronic purse, and the new applications for smart card-based schemes require the migration from magnetic stripe to smart card. This has already commenced with pilot schemes and continues with full roll-outs, each with its own infrastructure requirements for producing fully personalised magnetic stripe, smart cards and now multi-application cards.
However, to make use of these new cards a whole new application independent card issuing infrastructure is necessary so that smart cards and new multi-application cards may be brought on-line quickly. The P3 system from Zaxus provides a cost-effective migration path for the emerging card industry, allowing issuers to move into pilot schemes or full roll-out programmes for single or multi-application smart cards by reducing or eliminating the need to change existing card issuing systems.
Allowing service providers to carry out trials of smart cards applications without large investment, P3’s extended product range now offers a ‘Pilot’ system. This is a low-cost, time-limited version that will appeal to those issuers that are keen to carry out assessment trials with low numbers of smart cards before committing to full roll-out.
Now also offering higher card throughput rates, P3 capitalises on the improved performance provided by interconnection to the higher speed Zaxus RG7100 Ethernet host security modules.
Zaxus, a Thomson-CSF Racal company, provides e-business security solutions to several thousand customers worldwide. Over half of the world’s banks, together with the majority of the busiest stock exchanges, currently use Zaxus technology. Operating in three main markets — card payments, e-security and network security — Zaxus addresses the business security needs of corporates and governments alike. For more than 20 years the company has been at the forefront of security and payment technology, co-operating and contributing to set the industry standards used for financial transactions and electronic commerce globally.
Visit the new Zaxus web site at http://www.zaxus.com
The P3 system is designed to provide card issuers with a ready-made way of migrating from magnetic stripe cards to smart cards. Aimed primarily at the payments card industry, it offers the ability to generate data for credit/debit and electronic purse payment cards. Using P3 reduces or eliminates the need to make changes to the issuer’s host system thereby reducing implementation costs and timescales.
The P3 system produces data in a format that is widely used in the card industry and is compatible with the popular DataCard 9000 personalisation systems.
Ideal for operation in both personalisation bureaux or in-house by card issuers such as banks and similar institutions, P3 generates and maintains the cryptographic keys required for the secure personalisation of cards. This includes the exchange of public key certificates with the scheme Certification Authorities (CA) operated by Visa, MasterCard and Europay. P3 systems also support the generation and transfer of DES keys to and from card suppliers and personalisation systems.
P3 is a stand-alone, PC-based application for a Windows NT platform and uses the Zaxus RG7000 series of Host Security Modules (HSMs) to provide security functions. The HSM carries out all of the cryptographic functions required by P3. It is a tamper resistant device that allows asymmetric keys (RSA) of up to 2048 bits and symmetric keys (DES) to be stored securely without risk of exposure.
Maintaining a high degree of security, all keys, certificates and confidential information stored on the P3 database are encrypted before storage and can only be decrypted by the HSM attached to the P3 system. In addition, the HSM’s cryptographic functions are used to ensure the integrity all of the data generated by P3. This is achieved through the use of conventional Message Authentication Codes (MAC).