RDM Gets Approval of Normal Course Issuer Bid

RDM Corporation specialized software and hardware products for electronic payment processing announced its Notice of Intention to make a Normal Course Issuer Bid has been accepted by the Toronto Stock Exchange. Pursuant to the Bid, RDM may purchase up to 1,059,736 common shares, representing 5 per cent of the issued and outstanding common shares as of July 31, 2011. The purchases may commence on August 16, 2011 and will terminate on August 15, 2012, or on such earlier date that RDM completes its permitted purchases pursuant to the Notice or provides notice of termination of the Bid. All purchases will be made through the facilities of the TSX at prevailing market prices in accordance with regulatory requirements. Subject to any block purchases made in accordance with TSX rules, RDM will be subject to a daily repurchase restriction of 2,738 common shares. RDM will cancel any common shares purchased pursuant to the normal course issuer bid.

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ActivIdentity Weighs Differences in Tokenization

ActivIdentity, a global leader in secure identity solutions which recently acquired by HID Global, is indicating high profile attacks have raised questions as to whether OTP tokens are fundamentally flawed. The variations in token algorithm differ in the way they display the ever changing number, subsequently influencing both the way we use them and their security. OTP algorithms normally are based on a static key (per device) and to make the numbers (OTPs) change use variable called ‘moving factors’, often time, event or both. Other OTP algorithms use both time and counter and hence really combine the best of properties of both time and counter based tokens, making them more difficult to phish and harder to predict.

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VIVA & Transfer To Partner to Offer Intl. Remittance

Kuwait Telecommunications Company VIVA partnered with TransferTo International Airtime Transfer services, allowing prepaid customers to send credit to recipients abroad. VIVA customers can stay connected with friends and family by sending prepaid credit to the overseas prepaid account in any country offered under the service. VIVA continually seeks to offer customers innovative ways to communicate, and strives to reach each customer’s needs by focusing on promotions and deals that are affordable and most beneficial. Payment is deducted once it is accepted while transactions are limited to 100 transactions per month, KD 100 per day and KD 200 per month.

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European ATM Security Team expands representation

The Romanian Banking Association (RBA) has joined the European ATM Security Team (East) as the national representative member for the Country. The RBA non-profit professional body was formed by 14 commercial banks to facilitate communication and the sharing of experiences and best practice across the banking system. There are now 40 RBA members, for which the RBA represents and defend its members’ interests, promotes principles of banking policy in domains of general interest for its members, promotes cooperation among banks and with national and international institutions and banking associations from other countries and trains experts in the banking system to communicate with the mass media.

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Barclays offers free data back-ups after riots

Barclays is making its “I-Sure” online data backup service free for all UK businesses signing up in the next three months, whether or not they are Barclays customers. Commonly cited industry statistics show that over half of businesses shut down within six months of a disaster, such as losing all of their data through fire. But “I-Sure” lets businesses save sensitive data in a remote and secure location, providing customers with the confidence that all their business critical data, such as accounts, stock information and customer contact details, is securely encrypted and immediately available online.

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U.S. Retail Credit Card ABS Use Momentum

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] For U.S. retail credit card ABS, all major collateral metrics posted month-over-month improvements during the June collection period. Late payments more than 60 days fell for the fifth consecutive month while chargeoffs decreased again and reached levels not seen since the end of 2008; late stage delinquent balances, associated with borrowers…

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Visa Implements EMV Chips to Cards

Visa payment processing will be taking steps to increase the mobile credit card security as it continues its push for a prominent place in the mobile payments market. Visa will be adopting dual interface chip technology in the United States which will help build the necessary groundwork for the mobile payment network. Cards that feature the new technology will feature an EMV chip with a gold chip on the front of the card, which will contain information that is specific to the EMV chip. The cards work on a dynamic authentication system so that even if hackers steal and compromise the mobile payment data, they won’t be able to use counterfeit cards at a point of sale.

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Liaison Protect Successfully Completes PA-DSS Audit

Liaison Technologies cloud-based integration, data management and data security services and solutions announced its “Liaison Protect” Format Preserving Tokenization and key management solutions has passed a PA-DSS audit, underscoring Liaison’s continuing leadership in data security. The Liaison products are among the few non-payment application tokenization solutions to go through a PA-DSS audit to prove their high level of security. Verizon completed all PA-DSS validations and determined that Liaison Protect Token Manager and Liaison Protect Key Manager have achieved full validation with the Payment Application Data Security Standard.

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The Pantry to Offer Western Union In-Lane Remittance

Western Union and The Pantry convenience store chain forged agreements to offer the Western Union “goCASH” service, an in-lane money-transfer service from Western Union. The goCASHSM service will let consumers pay for a domestic or global money transfer while shopping at more than 1,650 Kangaroo Express stores across 13 states. The Pantry agreement builds upon Western Union’s go-to-market strategy and complements Western Union’s consumer experience. Consumers can select any of three principal amounts ranging from $50; $100; and $200, and the goCASHSM package can be purchased for both domestic and international money transfers.

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Mutual of Omaha Bank Launches Credit Card Product

Mutual of Omaha Bank signed a card issuing agreement with TMG Financial Services (TMGFS), a credit card agent-issuer headquartered in Des Moines, Iowa, allowing it to offer its clients consumer and business rewards MasterCard products. Mutual of Omaha Bank continues to strengthen its banking offerings by expanding into new markets and launching additional products. The also Bank focuses on building financial relationships with businesses and individuals using the best talent and technology in the market. TMG Financial Services is a top 100 credit card agent-issuing company dedicated to providing a collaborative solution focusing on credit, debit, ATM and prepaid processing solutions.

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Bridge Bank Selects FIS core banking

Bridge Bank has deployed FIS’ Integrated Banking Services (IBS) core banking platform. Bridge Bank has grown to more than $1 billion in assets, with offices nationwide and chose IBS for its strong commercial functionality, scalability and flexibility. The bank also deployed FIS’ eBanking, TrustDesk® and ACH processing in addition to IBS, which integrates easily with a wide range of solutions. The IBS platform’s comprehensive capabilities provide financial institutions with innovative technology and IBS is the leading outsourced retail and commercial banking solution among mid-tier banks in the U.S. In addition to the core, FIS eBanking platform provides Bridge Bank with reliable, secure online banking.

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