ABI Appoints New President

Geoffrey L. Berman will now sit on the American Bankruptcy Institute (ABI) Board of Directors as President for 2011-12 for a one year term, effective at the Company’s Annual Spring Meeting, March 31-April 3. Berman has served as ABI’s Vice President-Publications and chaired a Task Force on General Assignments. A co-Executive Editor of the ABI Journal and a frequent speaker at ABI conferences, Berman is also a member of the Los Angeles, Orange County and Bay Area Bankruptcy Forums and the Association of Insolvency Accountants, and is a frequent lecturer on bankruptcy and insolvency subjects. He received his B.A. in business administration with an emphasis in accounting and finance from the University of the Pacific and his J.D. from Southwestern University School of Law.

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PCI DSS-Compliant Cos See Fewer Breaches, Most Ignore Correlation

While the majority of PCI compliant organizations suffer fewer or no breaches, most practitioners still do not perceive PCI-DSS to have a positive impact on data security. This is based on findings showing, 64% of PCI-DSS compliant organizations reported suffering no data breaches involving credit card data over the past two years while 38% of non-compliant organizations reported suffering no breaches involving credit card data over the same period. Moreover, 63% of compliant organizations suffered no more than a single data breach, compared to 22 percent of non-compliant organizations, and 26% of non-compliant organizations suffered more than five breaches over the same time period. These findings, according to Imperva data security and the Ponemon Institute’s the “2011 PCI DSS Compliance Trends Study,” also shows hypocritical sentiments showing 88% did not support the claim that PCI-DSS compliance has a positive effect on the number of breaches experienced and only 39% mentioned data security improvement as one of the regulation’s value propositions for business. Additionally, only 33% believe that PCI-DSS compliance expenditure is covered by the value it brings to organization.

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JetPay Offers Acculynk Internet PIN Debit

JetPay and Acculynk announced “PaySecure” is now available on the JetPay payment platform. JetPay payment transaction processing suite and Acculynk’s “PaySecure” PIN debit payments on the Internet partnered in 4Q/10 to offer “PaySecure’ to existing JetPay merchants and Ecommerce merchants with other acquirers that do not currently offer PaySecure. Acculynk partners with major merchant acquirers such as these to make the product available to their installed merchant base. In cases where the acquirer does not currently offer PaySecure, the product can be leveraged as a hook product for new business.

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BillFloat and Online Resources Partner for ePayment

BillFloat small-dollar loans for consumer bill payment has entered into an agreement with Online Resources online financial services. With this, Online Resources will extend its biller-direct suite of electronic bill payment, presentment and receivables solutions by marketing BillFloat as a consumer payment option, helping users avoid late fees, bank overdraft charges and expensive loans when paying critical bills. Online Resources will make BillFloat available to its extensive customer base of billers that include financial services, utility, telecommunications, insurance and healthcare organizations. Offering a consumer-centric bill payment solution to the 61% of US workers that live paycheck to paycheck, BillFloat’s lending partners offer consumers short-term loans at a 3% monthly rate of interest, based on the recommendations of the FDIC’s Small-Dollar Loan Template.

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ControlScan Atlanta Business Pacesetter Award Finalist

ControlScan PCI compliance solutions for small- to mid-sized merchants has been selected as a finalist of the 2011 Atlanta Business Chronicle’s Pacesetter Awards given its growth from 2008-2010. The awards identify privately held companies that utilize unconventional methods to take business to the next level and experience rapid growth. ControlScan works with merchant acquirers to provide PCI compliance solutions specifically designed to meet the needs of their small merchants to ensure the PCI Data Security Standards are being met. It has signed with more than 90 merchant acquirers that collectively represent hundreds of thousands of merchants and experienced a revenue growth of over 200%.

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SABEResPODER, Wells Fargo Offer Underbanked Financial Education

SABEResPODER and Wells Fargo have partnered to provide financial education to the underbanked in 13 cities through July 1, 2011. The educational campaign includes the introduction to financial literacy and to banking products and services that will help the underbanked succeed financially, ranging from opening a bank account to remitting money overseas to family and friends. The campaign will run in Anchorage, Phoenix, Tucson, Denver, Atlanta, Boise, Saint Paul, Albuquerque, Las Vegas, New York, Portland, Salt Lake City and Seattle. Conjunctively, Wells Fargo is including an “ExpressSend” remittance rebate offer in the financial education guide that will be good throughout the campaign.

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MerchantService.com Releases PCIDSS Compliance Video

MerchantService.com merchant account services has released a new video and article on their website titled “PCI DSS Compliance Mandatory for Credit Card Merchant Accounts.” The article focuses on the required compliance to Payment Card Industry Data Security Standards (PCIDSS) for all merchant account holders, the potential penalties and fines caused by non-compliant credit card processing, and some important guidelines for meeting PCIDSS regulations. Many vendors don’t realize that owning a merchant account means abiding by the regulations set forth by the Payment Card Industry Security Standards Council, or PCISSC. Penalties ranging from $10,000 to $600,000 await those who are not in compliance with the PCIDSS regulations. Credit card processing privileges may also be suspended permanently.

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Monster Offers Kicksoff End-to-End mBanking for Daily Deal Industry

Monster Offers mBanking solutions announced its vision to help local consumers find relevant daily deals, make those deals easy-to-buy and provide accurate and detailed data analytics to the Daily Deal industry. Leveraging its recent exclusive worldwide agreement with Zala, Monster Offers will deploy a series of consumer and business banking solutions under a newly formed subsidiary this quarter. These solutions will be available on more than 150 approved handsets including iPhone, Android, Blackberry, and Nokia. Users will also be issued a Visa or MasterCard integrated with their deal redemption account.

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Discover Awarded Bankrate Strength/Stability Rating

Discover Bank has been awarded five stars-the highest rating- by the Bankrate.com “Safe & Sound Ratings Service” of relative financial strength and stability in the financial services industry. The service has provided consumers information on the strength and soundness of U.S. commercial banks, savings institutions and credit unions for more than 13 years. The Bankrate “Safe & Sound” ratings are comparisons to both industry peer norms and standards. Individual performance levels are determined from publicly available regulatory filings and are compared to asset-size peer norms, industry standards and key absolute benchmarks.

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BPC Banking Technologies to supply national processing center

BPC Banking Technologies Open System e-payment solutions for the global financial industry has won a competitive tender to build a new national switch and processing platform for Uzbekistan. UZKART, Uzbekistan’s national payment system includes 28 participating banks issuing more than 8,5 million cards. UZKART needed to replace its DUET based legacy payments processing infrastructure to cope with the rapid growth in the country’s payments business. Card and POS numbers have been increasing at 25-30% per annum, while transaction volumes have been doubling each year. Additionally UZKART wished to broaden its business offering by being able to issue and acquire internationally branded cards, while meeting the highest standards for data security and fraud management. BPC’s award winning SmartVista suite was chosen after a competitive bid process as it was able to support the significant demands inherent in running a nationwide payments infrastructure. SmartVista’s broad range of capabilities effectively support and manage payments across all channels, including POS, branch, Internet, and mobile applications.

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