Protegrity USA end-to-end data security solutions announced Preem AB, Sweden’s largest oil company, has adopted its data security platform to deliver PCI-DSS compliance for credit card transactions at more than 470 gas stations across the country. Protegrity’s solutions use modern tokenisation to ensure flexible, scalable security for customer data in transit and at rest without impacting transaction processing speeds. Why Protegrity In evaluating the different technologies available, Preem determined that the simplest way to achieve PCI-DSS compliance would be to adopt the tokenisation approach. Tokenisation protects sensitive data by replacing it with tokens that hold no value to someone who gains unauthorized access to that data.
Down the long bumpy road that was April 2010, consumer confidence was shaken, but in the end remained flat on the Discover U.S. Spending Monitor. The discrepancy in the final numbers from March to April was practically nil, dropping only from 89.5 to 89.4. This was no indication, however, of variation throughout the month. From April 6 to April 20 alone, there was a near 10-point increase in consumers who felt the economy was worsening, from 46% to 56%, while the number of consumers rating their personal finances as poor shot from 20%-28%. Meanwhile, those who said their finances were getting worse exploded from 46 to 55% in conjunction with skyrocketing gas prices.
But when all was said and done, those feeling economic conditions were getting worse stood at 51%-the same as in March- as 18% feel conditions are the same, down 2 points from the previous month, and 26% feel the economy is improving, a 1-point increase from March. To blame: Gas Prices. This is clear to the 57% planning to change their summer vacation because of unmanageable fuel costs while 68% are forced to cut back on discretionary spending. Also throughout the month of April, only 34% described their finances as good or excellent, while 64% say their finances are fair or poor, 49% of whom disclosed they are only worsening-compared to the 48% in March. Only 21% say their finances are improving, compared to 22% in March, for a telling sign of the times.
Boston residentsâ outlook on the future has declined from nine months ago yet they remain more upbeat about the economy than Americans nationally, with 61% seeing local business conditions getting somewhat or much better in the next 12 months. This is much more hopeful than the 53 of adults nationally whom believe local business conditions will improve. This, according to Citi, also shows 54% of Bostonians think the economy has yet to hit bottom, compared to 62% nationally. Additional findings show 64% of Boston residents are somewhat or very optimistic that their own financial situation will get better over the next 12 months, a four point decline since September; 56% of Bostonians believe it will be at least two or three years, if not longer, before the economy stabilizes for their household; 34% of Bostonians are very uncomfortable with their level of debt, an increase of 6 points since September 2009, compared with 33% of the national population; and 24% of Bostonians have at least one area of debt that constitutes a major or unmanageable problem.
With the number of Chicago residents who feel that they are better off today than in September 2009 is up three points to 16%, 60% believe the economy has not yet hit bottom, compared with 62 percent nationally. This, compared to September when 52% believed we still had a ways to go and 34% said we had already hit bottom.Only 53% of Chicagoans believe that local business conditions will get somewhat (47%) or much (6%) better in the next 12 months â a 14-point decline since September. This, according to Citi, also shows 63% are somewhat (47%) or very (16%) optimistic that their own financial situation will get better over the next 12 months; 22% believe their local economy is good or excellent; 64% believe it is only a fair (30%) or poor (34%) time to buy a major household item; and 55% will not take any vacation at all this summer, more than 51 percent nationally. Additionally, 38% are somewhat (24%) or very (14%) uncomfortable with their current level of debt, a six-point increase since September, and five points higher than the country overall (33%).
With optimism on the economic future on an overall decline, womenâs outlook has held almost steady while men are much more skeptical. With current assessments of local economic conditions having ticked up 3 points since March for men (24%) and 4 points for women (23%), only 50% of men believe that the business conditions where they live will get somewhat (46%) or much (4%) better in the next 12 months, compared with 56% of women who believe that business conditions will get somewhat (51%) or much (5%) better. For men this represents an eight-point decline from three months ago when 58% of men thought conditions would improve, but just a three-point decline for women from 59% in March. This, according to a recent Citi survey conducted by Hart Research, shows 62% of men are somewhat (47%) or very (15%) optimistic that their own financial situation will get better over the next twelve months, a four point decline since March. This may have to do with the fact 16% of women believe they are personally better off than a year ago, up three points since March.
The majority of Americans believe the economy has yet to hit bottom. In fact, 62% share this sentiment, a 3 point decline since March when only 59% felt this way. Conversely, only 33% believe the economy has already hit bottom, despite the fact the economy has seen growth since 3Q/09. This, according to a nationwide survey issued by Citi and conducted by Hart Research Associates, also shows 62% believing it will be at least two or three years before a recovery while 28% believe it will be at least four years before the economy stabilizes; 24% say the local economy where they live is good or excellent, up from 19% in March; 17% say their personal financial situation is better now than a year ago has improved slightly since the 15% in March; and 52% say their personal financial situations are about the same as they were a year ago. Additionally, 64% remain very or somewhat optimistic that their financial situation will improve in the next twelve months, compared to 32 percent who are somewhat or very pessimistic, and 85% reporting local employment opportunities are only fair (36%) or poor (49%).
NET Federal Credit Union is set to deply Bluepoint Solutions’ “ImagePoint Teller Capture” and “Receipt Manager” solutions. NET Federal Credit Union operates two branches, has more than 21,000 members and $157 million in assets. In addition to the efficiencies gained on the teller line, the credit union anticipates faster and more accurate balancing, as well as a reduction in fraud by catching questionable items before they ever enter the institution. The “ImagePoint Teller Capture” enables the capture of items at the teller line, increasing efficiency and accuracy by reducing time spent on manual data entry and preventing human error, while “Receipt Manager” integrates with the existing teller transaction flow, storing the receipt data with the check image electronically and making them searchable and available.
Security solutions specialist Cryptomathic’s “ID Inspector” now includes the capability to
retrieve ePassport biometric data and eliminating the
need to transfer data from the ePassport chip onto the border control
system every time a traveller enters the country. The
technology will enable Basic Access Control ePassports to be read almost
instantaneously, while increasing the speed of inspecting Extended
Access Control ePassports by a factor of four. The solution allows
inspection systems to store elements of a traveller’s biometric details
Ã¢ÂÂ at a port-of-entry or national level – such that it is impossible to
access the data unless the physical ePassport is present. Known as the ‘encrypt
and destroy technique’, the solution satisfies EU ePassport privacy and
data protection laws.
AR-based Nick-Lynn Technologies has introduced the “US Liberty Card”, a tax payment credit card that enables consumers and businesses to clear their tax responsibilities and shift the collection efforts away from the federal government Low interest rates and negotiated payment arrangements allow individuals and businesses to avoid bankruptcy and reputation damage, and use their previous government-payment cash flow to stimulate business growth or personal spending revenues while the US Liberty Card pays the government in full. The government shortfall, ‘tax gap’ is estimated to be around $450 billion and growing by at least a billion yearly. The cardholder agreement makes the card exempt from bankruptcy filing and does not charge the government processing fees as this function is included and handled through a partner company, Data Pay. The US Liberty Card is a fully collateralized card with a low interest rate and is tax-payment-only card and can be used to pay any tax collected by any participating agency.
A new consumer survey has discovered that 48% of Americans are uncomfortable with the total amount of household debt they have. The poll by LendingTree also found that 54% do not have a financial plan. Not including mortgage debt, the survey revealed that 74% of Americans envision themselves being completely debt free at some point in their lives. The survey further uncovered that 50% of Americans confess they are concerned or extremely concerned about the amount of credit card debt they have and surprisingly, 10% chose to declare bankruptcy as the only way to solve their debt problems. Young Families, ages 19-34 with children, had the most shocking results of the survey participants. This life stage has the highest debt-to-income ratio (59% spend half or more of their gross income on total debt expense); is admittedly the most uncomfortable with their total household debt (68% are uncomfortable with their debt); and is the least financially prepared should an emergency occur (59% do not have savings available for an emergency).
A group of nine U.S. Congressman yesterday introduced a bill requiring credit card issuers to fully disclose the impact of making minimum payments. The bill, titled the “Credit Card Repayment Act of 2007” was introduced by North Carolina Democratic Rep. David Price along with eight fellow Democrats. Under the Price bill, credit card companies would have to clearly outline the full cost of the minimum payment on a cardholder’s monthly statement and offer cardholders tools to help them pay off their debt. Specifically, the legislation would require companies to include a warning that making only the minimum monthly payment would increase the amount of interest paid; information on how long it would take and how much it would cost to pay off his/her entire balance if making only the minimum monthly payment; information on how much the consumer would have to pay per month if he/she wanted to pay off the balance in three years; and, a toll-free number that consumers could call for credit counseling.
Several national consumer groups have come together to form Americans for Fairness in Lending. The new organization is today launching a national campaign that includes print, radio and an interactive Web site. The campaign will coincide with the release of the documentary and book “Maxed Out,” by author/filmmaker James Scurlock. The campaign will call for concrete reforms in lending such as caps on interest rates and binding contract terms. AFFIL includes ACORN, Center for American Progress, Consumer Federation of America, Consumers Union, NAACP, National Consumer Law Center, National Council of La Raza, UAW, and U.S. PIRG, among others. Funding for the AFFIL campaign is provided by the Ford Foundation and Annie E. Casey Foundation.