OpenTrust Sees Strong Start in 2011

OpenTrust Next-Gen IT security software publisher, announced new customers have joined its client base in Switzerland within the last month. These include the UCI, which published a new protocol for frame and fork testing using OpenTrust Managed File Transfer (MFT) as a Cloud-based Web service to transmit documents securely over an encrypted network, the CHUV university hospital in Lausanne has also selected OpenTrust to securely exchange medical information throughout the establishment, and the international operations of a Global Consumer Goods company selected the OpenTrust PKI suite to secure its Private Cloud infrastructure. OpenTrust security software leader is dedicated to developing flexible solutions designed to help meet complex security challenges and establish agile, end-to-end trusted IT infrastructures.

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Evolution Benefits Appoints New VP, Sales

Fred “Bud” Bockoven, CFCI, has been appointed Evolution Benefits (EB) electronic benefit payment services and software VP, Sales. A former P+W Software executive with over 30 years’ industry experience, Bockoven will focus on Evolution Benefits’ “PayDirect” benefit administration software in the national consumer directed marketplace. Prior to P+W Software, Fred was with the Hartford and Associated Risk Services. He holds a B.S. from Syracuse University and his M.A. in Management and Public Affairs from Webster University.

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Spil Games Implements Adyen Internet Payment

Adyen next generation Internet payment solutions’ payment platform has been selected by Spil Games online gaming and will integrate streamlined payment services into its social-gaming platforms. Spil Games owns and operates a localized global network of online social-gaming platforms. The company is ranked as a top 60 most-visited online property in the world and attracts over 130 million unique visitors to its social gaming platforms each month. With this network of online social gaming platforms tailored to girls, teens and families, offered in up to 19 different languages, Spil Games required an Internet payment service provider with the capability to adapt to the specific requirements of local markets around the world and support multiple payment methods. Adyen will offer its single-click Internet payment process, which can be viewed on a single screen using Ajax technology.

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Paymetric & Optimal Forge Referral Partnership

Paymetric integrated and secure payment acceptance solutions has entered into a referral partnership with Optimal Solutions, which will actively promote Paymetric’s solutions to its mid-sized customers. In exchange, Paymetric will provide enterprise payment processing and secure tokenization solutions for Optimal Solutions’ client portfolio. The agreement will ultimately provide new sales opportunities for Paymetric and Optimal Solutions with an enhanced service offering through the Paymetric “XiPay On-Demand” and “XiSecure On-Demand” solutions. These will let Optimal securely manage, accept and integrate virtually every type of electronic payment originating from any enterprise system.

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BluePay Processing Complete DICE Software Integration

BluePay secure credit card processing solutions completed its software integration for DICE Corporation’s alarm software, streamlining its data entry process for single batch entries and uploads. This also lets DICE accept ACH payments through BluePay’s secure payment gateway in a single batch upload. Other BluePay products and services include Level 3 processing capabilities, wireless credit card terminals, e-commerce payment gateways, virtual terminals, recurring billing and small business credit card processing. BluePay full-service, Tier 1 credit card processor focuses on credit card processing through its comprehensive suite of credit card merchant processing services.

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Mobile Money Services to Double in the Next 2 Years

Currently with well under 100 million users, the need to access basic financial services by users in developing countries will drive the short term growth of active mobile money users globally to exceed 200 million by 2013. Additionally, nearly 40% of active users in 2015 will be in the Africa & Middle East region, according to the latest analysis from Juniper Research.

The report also cautions that whilst there are several high profile examples of extremely successful mobile money services, each new rollout needs an established, robust and extensive local distribution network to ensure access to the service.

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Sage Launches mPayments Solution

Sage Payment Solutions has made available its PCI-compliant “Sage Mobile Payments” mobile payments solution. Sage Payment Solutions is offering “Sage Mobile Payments” with no incremental mobile processing or transaction fees and an optional, end-to-end encrypted card reader. Targeting small and midsized businesses (SMBs) with cost-effective and secure mobile payments, with no additional transaction fee surcharges, Sage Payment Solutions’ “Sage Mobile Payments” protects all customer data, which is encrypted before it leaves a customer’s cell phone; no personal data is retained on the phone or mobile computing device. The mPayments solution is currently available for U.S. businesses and organizations with a Sage Payment Solutions merchant account.

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SCA Addresses EMV Implementation Challenges

Factors driving the U.S. payments industry to consider a move to EMV include card-related fraud losses, the increasing annual cost of protecting existing payments systems and enhancing security features incrementally, and troubles U.S. travelers are having using their cards abroad. In response, the Smart Card Alliance Payments Council released its white paper- “Card Payments Roadmap in the United States: How Will EMV Impact the Future Payments Infrastructure?”- addressing the current state of the payments infrastructure in the United States and identifies actions that stakeholders would need to take to issue EMV cards, and to accept and process EMV transactions. Targeting issuers, merchants, processors, ATM owners, and suppliers of hardware, software, and support services, on different options for EMV implementation and critical considerations for deploying an EMV solution in their business environments, the paper mainly touches on the impact of the global deployment of EMV on possible roadmap options for the U.S. and cardholder verification methods and transaction authorization approaches and implementation options for each.

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Sybase 365 Launches Commercialbank of Qatar mBanking

Sybase 365 mobile messaging and mobile commerce services has partnered with Commercialbank of Qatar to implement its retail mobile banking and mobile payments service. This provides users instant and secure connectivity to accounts anywhere, anytime, letting them check balances, review transaction history and transfer funds between accounts. They can also make balance enquiries on all bank and card accounts, receive transaction summaries, make utility bill payments, order check books and conduct remittances.

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Otkritie Appoints New CTO

Sergey Rozov has been appointed Chief Technology Officer with Otkritie Financial Corporation Banking. Rozov will be responsible for technology and IT strategy, ensuring the optimisation of client relationships, the acceleration of data transfers and the efficient completion of orders. He will design, establish and implement flexible and robust technology solutions. He most recently headed the IT department at UBS after having worked as Company IT Director between 2000 and 2006. Mr Rozov qualified as an engineer and radiophysicist, graduating with honors from the Moscow Energy Institute in 1990 having majored in Radiophysics and Electronics.

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Identity Fraud Plummets 28% in 2010

In 2010, the number of identity fraud victims fell 28% to 8.1 million, down 3 million from 2009, while total annual fraud decreased to the lowest point in 8 years from $56 billion to $37 billion. The mean fraud amount per victim declined from $4,991 in 2009 to $4,607, most likely thanks to the significant drop in reported data breaches according to industry reports: 404 in 2010 with 26 million records exposed, compared to 604 in 2009 with 221 million records exposed. These findings, according to “The 2011 Identity Survey Report” by Javelin Strategy & Research, also shows new account fraud was most damaging, with $17 billion in damages. Fraud declines are thanks in great part to more stringent criteria financial institutions are applying to authenticate users and determine credit risk; as well as more Americans monitoring accounts online and using monitoring protection services that can provide updates to mobile devices.

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Union Bank Selects VSoft RDC Platform

VSoft Corporation announced Union Bank is set to implement its Remote Deposit Capture solution. The selection is part of Union Bank’s strategy to offer its customers the latest technology to expedite processing of their account receivables and reconciliation. Union Bank first introduced remote deposit to its business customers in 2006 and has successfully penetrated markets across the country. VSoft Corporation is a global provider of financial technology solutions, serving banks, credit unions, savings institutions, transaction processors, governments, utilities, telecommunications and retail organizations with all points of presentment, back office check processing, image exchange, document management, and remittance and lockbox operations.

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