Fiserv Appoints ACCEL/Exchange Payments Head

Dave Keenan has joined Fiserv financial services technology solutions as its GM, ACCEL/Exchange payments network. Bringing with him more than 25 years of payments experience to Fiserv, he served as vice president of Sales and Marketing at BankServ, a provider of specialized payment solutions for financial institutions and corporations using SWIFT, Fedwire, P2P, mobile and remote deposit capture technologies. He also served as managing director of Loyalty Marketing at United Airlines, where he was responsible for its loyalty program and corporate marketing partnerships. Keenan also served as senior vice president at MasterCard International, where he held a variety of leadership positions including head of global operations for the Cirrus network. He began his career as a systems programmer with Fifth Third Bank’s Midwest Payment Systems (MPS) subsidiary, writing machine language code that connected some of the first ATM/point of sale networks.

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ACI Worldwide to Solicit Proxies Against S1-Fundtech Merger

ACI Worldwide payment systems has filed preliminary proxy materials with the SEC concerning the solicitation of votes against proposals of a merger. The materials indicate ACI believes the proposed S1-Fundtech transaction is not in the best interests of S1 shareholders and that S1 shareholders should vote “AGAINST” the proposed S1/Fundtech combination because ACI believes a vote “AGAINST” the proposed Fundtech transaction preserves the opportunity for S1’s shareholders to receive a premium price contemplated by ACI’s proposal that ACI believes would provide significantly greater value to S1 shareholders than the Fundtech transaction. Also a vote “AGAINST” the proposed Fundtech transaction stops the S1 Board from entering into a transaction that results in a radical restructuring of S1’s business, ownership and governance for no premium or cash to S1 shareholders; and a vote “AGAINST” the proposed Fundtech transaction sends a strong message to S1’s Board that S1 shareholders want S1’s Board to consider other alternatives for the company.

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Secure POS Vendor Alliance Partners with Witham Laboratories

The Secure POS Vendor Alliance (SPVA) non-profit business, founded by Hypercom, Ingenico and VeriFone, partnered with Witham Laboratories information security evaluations. The Australian-based consultant will serve as SPVA’s first Lab Network member and will focus on testing SPVA’s end-to-end encryption security requirements. The SPVA Lab Network closes gaps in security payment process compliance, ensuring aspects of technology and applied processes are subject to independent verification and standard guidelines. The process allows end-users and customers a method for establishing an independent and credible review of an implementation of SPVA best practices and provides them with options to ensure their compliance is verified.

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Bank of America to Sell Off International Credit Card Folios

Bank of America has agreed to sell its $8.6 billion Canadian credit card business to TD Bank Group and that it will exit its credit card businesses in the U.K. and Ireland. This continues the transformation of Bank of America’s credit card business, following the sale of the U.K. Business Lending portfolio, the agreement to sell the Spanish card business, and the company’s continued exit from the depository institution affinity credit card business with the recent sales of the Regions and Sovereign credit card portfolios. The U.K. and Ireland card folios have $19 billion in credit card loans and more than 4,000 employees.

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ANX Adds Secure Cloud Gateway to PCI Security & Compliance

ANXeBusiness security, compliance and connectivity solutions enhanced its PCI Compliance & Security solution for small businesses with “Secure Cloud Gateway.” The Secure Cloud Gateway includes proprietary technology with features that focus on ensuring merchant PCI DSS compliance. While the ANX PCI Compliance & Security solution affords merchants and small businesses all of the cost benefits of cloud-based technology by delivering a suite of cloud-based UTM services that eliminate threats from viruses, worms, Trojan horses, spyware and other malware launched from malicious web sites and email. It provides network routing to direct incoming traffic through the ANX network for scrubbing, as protection against external threats before they enter the customer network; Wi-Fi for secure and reliable high-performance wireless access; Network security, with monitoring for the most severe threats including worms, viruses, buffer overflows and denial-of-service attacks; and Web security, including antivirus, web filtering, reporting and inspection of outgoing traffic.

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Mobile Web 3.0 Development Offers Cross-Platform M-Commerce

Mobile commerce mini-cart mashup “mCartSB” combines Amazon “PayPhrase” and PayPal “Mobile SMS” online shopping and payment processing into economical mobile website alternatives to iPhone, Android and other platform-specific mobile apps. The “mCartSB” is not a standalone software product or web application, rather an integration component WebReDesignMiami.com and affiliate Web3.0DesignMiami.com offer their website design and online merchant ecommerce clients to extend their web marketing reach. The mCartSB mCommerce mini-cart mashup is to serve as an example of how to use the Mobile Web to do big things in small ways.

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eLayaway Integrates 3DCart in Software Release

eLayaway patent pending layaway payment processor expanded its relationship with 3DCart cart software provider to offer their more than 10,000 merchant clients on-demand access to the eLayaway merchant network. 3DCart’s release of its “Version 4” software provides new features and enhancements, coupled with the pre-integration of eLayaway as an alternative payment to Paypal, Google Checkout and other methods makes 3DCart and eLayaway a great choice for business owners looking to improve their operations and expand their markets. eLayaway.com also owns and operates eLayawaySports.com, eLayawayTravel.com and eLayawayHealth.com and was founded in 2005 while 3DCart is a complete eCommerce software solution for merchants to build, promote and grow their online business.

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Liaison Supports New PCI DSS Tokenization Guidelines

Liaison Technologies announced its full support for the new PCI DSS Tokenization Guidelines Information Supplement, just released by the PCI Security Standards Council. The PCI DSS Tokenization Guidelines provide merchants with greater clarity on how tokenization relates to PCI Security Standards and impacts PCI DSS compliance. Over the past several years, retailers and other organizations that accept and process credit cards have embraced tokenization to reduce the risk of a data breach and lower the cost of PCI DSS compliance.

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National Semiconductor Simplifies Smart Transmitter

National Semiconductor introduced a 16-bit digital-to-analog converter (DAC) featuring a single-wire interface and 4-to-20 mA current loop drive that simplifies the design of smart transmitters used in industrial two-wire sensor systems. The highly integrated DAC161P997 reduces component count and cost in factory and building automation control systems by enabling the use of a single isolation component to cross the isolation boundary. For sensing and detecting applications where galvanic isolation is not required, National’s DAC161P997 interfaces directly to a microcontroller. It has a single-wire interface: enables higher system accuracy compared to discrete PWM implementations, and lower system cost compared to 4-wire SPI solution; Low power operation: 190 uA enables total system power consumption below 30 mW or 3.5 mA; and a user-programmable start up and data rate auto detect.

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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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