ConocoPhillips Certifies Passport With PA-DSS POS

TX-based ConocoPhillips has approved “Passport” with PA-DSS POS system software Version 8.03G for convenience store retailers on their network. Gilbarco is now shipping orders for new Passport systems and Passport upgrades for the ConocoPhillips V8.03G software. The “Passport” architecture segregates all PA-DSS software into a single device to mitigate the impact of on-going changes by PCI. Retailers benefit from Remote Diagnostics and Gilbarco’s 24x7x365 Help Desk that enable most troubleshooting, fixes and software upgrades to be completed without on-site service calls and site downtime. It offers seamless connectivity and standardization to support a large number of third-party loyalty partners and programs, business information and security features, sophisticated business growth tools and easy expandability.

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IENIGMAFOR

charismathics PKI middleware and iEnigmafor Windows Mobile software application for smartphones now lets users implement their smartphone as a smart card, with no need for additional hardware. The application replaces formerly required hardware and keeps the user’s digital identity securely within the smart phone. Upgradable to regular PKI smart cards, iEnigma is compliant to all existing identity management schemes and does not require any change to processes or user habits. Soon to support Blackberry, Android and Apple, iEnigma is also available as authentication engine for third party applications and services so that banks and other service providers are able to use it in combination with their services.

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Oberthur Implements EMV Issuance in US

Oberthur Technologies smart card based solutions has seen an increase in EMV demand from card issuers in the United States. Multiple launches from leading financial institutions are currently underway, for early 2011 deployment. Oberthur Technologies has issued over 600 million EMV cards globally and offers a comprehensive range of EMV payment solutions to meet clients’ needs, including contact, contactless and dual interface payment cards and prepaid cards. The Company also offers “EMV-in-a-Box” fully integrated EMV migration solution and management program based on best practices gained by Oberthur Technologies’ work on more than 200 EMV projects worldwide. The “EMV-in-a-Box” program includes on-site consultation, EMV training, project management and technical support.

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Vesta to Manage Top-up Channels for Tele2 Latvia

OR-based Vesta Corporation electronic payment solutions has begun managing “Tele2 Latvia’s” electronic Web & IVR top-up channels. Vesta will also support live agent top-ups hosted by Tele2. This lets Tele2 prepaid customers use streamlined, secure top-ups via a wide variety of payment devices and payment channels. Vesta’s payment technology is also fully PCI Data Security Standard (PCI DSS)-compliant. Mandated by leading credit card issuers, PCI compliance assures that requirements for payment data security are being met.

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nFinanSe Launches Reloadable Prepaid Debit Cards

The nFinanSe card is being recognized for its low fees, the lowest monthly maintenance fee of $2.95 and lowest ATM withdrawal fee of $0.99 in the Consumers Union 2010 report on the industry. The nFinanSe Reloadable Prepaid Visa and Discover Cards sell for just $3 at retail stores and allow cardholders to load additional funds or “top up” for only $2.95. nFinanSe also offers FREE direct deposit of payroll, FREE 24/7/365 live agent customer service in English and Spanish and FREE cell phone text message alerts with purchase and balance information* after each transaction. nFinanSe does not charge additional fees for text message alerts regarding purchase and balance information.

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Wells Fargo Launches ATM Money Management

Wells Fargo has launched its “ATM Cash Tracker” tool to help customers manage their finances. Allowing users to set a target amount and track their monthly Wells Fargo ATM withdrawals, “ATM Cash Tracker” provides detail about how much the customer withdrew the prior month and their average over the past 12 months. Additionally, an “ATM Cash Tracker” button helps visually track progress; the tool covers cash withdrawals at Wells Fargo ATMs only, and is available only to Wells Fargo customers and Wachovia customers once their state converts to Wells Fargo. All of Wells Fargo’s more than 12,000 “You Know Me” ATMs remember customers’ most used transactions, for faster, more convenient banking; offer email receipts to Wells Fargo Online customers; and deliver targeted messages to inform our customers of new products and services.

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31% See Economic Conditions Improving

Consumer confidence is now at its highest point in three years for the biggest month-to-month increase in November since April, with 31% disclosing economic conditions are improving for a 4–point increase from October. Also 23% feel their finances are getting better, the most since February 2008, up 2 points from October and up 4 points from the year ago figure. However, 45% still feel economic conditions are getting worse, a 4-point decrease from October. These findings are according to the Discover U.S. Spending Monitor, which was up 4.3 points in November to 91.8 and shows improved confidence among consumers due in part to increased holiday spending intentions by 9 points compared to this time last year. In 2009, two-thirds of consumers reduced their holiday spending budget, and half headed into the holidays looking to cut their discretionary spending, while in 2010 the number of consumers who say they expect to spend less this holiday season has fallen 9 points from 2009. Moreover, 65% intended to spend less on holiday gifts than they did the year before compared to only 56% this year.

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Charge-Offs Down 9.2%, Still Up 55% on Avg

Losses and delinquencies for U.S. prime credit card chargeoffs
continue with positive momentum and ongoing improvements in delinquency.
Trends indicate this may recede further in the coming months, but loss
rates still remain high on a historical basis. Typically on the increase
at this time of year, charge-offs are down two basis points (bps) to
9.20% to the lowest point in 19 months, which still stand however at 55%
above the long term historic average of 5.93%. This, according to Fitch
Ratings, also shows late stage delinquencies trended lower for the tenth
consecutive month having hit a 25-month low to now sit 98 bps lower than
in the year ago period for a 22% decline. Meanwhile, gross yield fell
slightly for the second straight month in October for a 12-bp decrease
to 21.80%, but was still 11% higher year over year, and the monthly
payment rate was down for the second straight month after registering a
31 month high back in September. MPR receded 42 bps in October to
19.23%, still represented a 4% increase from last year and is more than
19% higher than the long term historic average of 16.15%.

COFS HISTORICAL
JUN/08: 5.3%
SEP/08: 5.5%
DEC/08: 6.0%
MAR/09: 8.7%
JUN/09: 9.5%
SEP/09: 10.1%
DEC/09: 10.6%
MAR/10: 10.93%
JUN/10: 10.28%
SEP/10: 10.19%
OCT/10: 9.20%
Source: CardData
(www.carddata.com)

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FIS Recognized with Multiple Industry Awards

FIS banking and payments technology has won three prestigious financial industry awards for the company’s imaging and mobile banking solutions as well as its overall operational excellence and quality. FIS was recognized with a “2010 Innovative Solutions Award” from BankNews, presented an “XCelent Customer Service Award” from Celent and named company of the year for “Operational Excellence and Quality” from economictimes.com. BankNews recognized FIS with a 2010 Innovative Solutions Award in the category of “Best Consulting/Outsourcing/Training Solution” for its Outsourced Check Image Services, which leverages combined processing operations for hundreds of financial institutions, providing services more efficiently, less expensively and more responsibly in terms of conserving environmental resources.

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Hypercom Previews New Network Technology

Hypercom has previewed its “IntelliNAC” high-density, multi-function POS network access controller to speed transactions for financial institutions, retailers, service providers and other high traffic transaction-oriented entities. It builds on Hypercom’s industry-leading networking technology that is considered the platinum standard for modern, high performance transaction networks globally and routes billions of transactions daily for hundreds of financial institutions around the world. The “IntelliNAC” enables network owners to control end-to-end transaction transport on their own, thus eliminating the need to employ multiple third party vendors. It also uses Secure Socket Layer to encrypt and transmit transactions virtually instantaneously.

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Wincor Nixdorf Releases ATM and Fare Collection

HID Global secure identity has partnered with Wincor Nixdorf to develop an ATM solution with an integrated contactless smart card reader. This adds the HID interoperable cashless payment reader technology to the Wincor Nixdorf “ProCash ATM” platform, allowing a single piece of equipment to process ATM and automatic fare collection transactions. The partnership will support the “Calypso” transit card protocol and “DESFire” contactless smart card technology, plus “MIFARE” contactless smart cards to meet future banking requirements. The system is designed to improve efficiency and cut costs for transit authorities and banks while offering greater convenience for consumers, increasing customer loyalty.

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