BMO

Trusteer secure browsing services’ customer BMO Financial Group received the top honor at the SC Congress Canada data security conferences. BMO Financial Group’s Information Security Operations was recognized for the strength of its information security program and innovative use of leading technology to protect its customers’ information. BMO Financial Group was honored for its leadership in implementing several advanced security solutions in the past year that have strengthened its ability to safeguard and protect its customers’ and the bank’s information, recognized for having demonstrated leadership in the rollout of certificates that verify customers are on legitimate BMO websites by turning the address bar green; having been certified under ISO 27001 for the fourth consecutive year; and having implemented encryption solutions to keep information safe.

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FIS

Home Trust chip-enabled credit card customers can now manage their PINs free of charge at Canada Post offices across the country. Home Trust is the first credit card issuer in Canada to subscribe to the secure, innovative, face-to-face PIN Card Services solution from Canada Post. Most financial institutions that issue credit cards handle PIN management at their ATMs. In the absence of its own ATM infrastructure, Home Trust has chosen Canada Post’s PIN Card Services solution to provide greater convenience to its customers. The Canada Post PIN Card Services solution was developed in close conjunction with FIS payments technology.

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INTERAC FLASH

Scotiabank and RBC are set to add “Interac Flash” contactless enhancement to its Interac Debit payment option for their customers’ bank cards in summer 2011. With “Interac Flash,” users can pay for smaller value items by ‘flashing’ an Interac chip debit card at a reader that supports Interac Flash, rather than inserting the card and entering a PIN. This increased speed also helps merchants improve customer throughput at point-of-sale by spending less time processing payments, particularly handling cash. This targets the consumers paying an estimated $90 billion in cash payments for purchases under $20 annually.

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The Fed Requests Dodd Act Provision Comment

The Federal Reserve Board has requested comment on a proposed rule to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act that give banking firms a defined period of time to conform their activities and investments to the so-called Volcker Rule. The Volcker Rule generally prohibits banking entities from engaging in proprietary trading in securities, derivatives, or certain other financial instruments, and from investing in, sponsoring, or having certain relationships with a hedge fund or private equity fund. The statute generally provides banking entities two years to bring their activities and investments into compliance with the Volcker Rule, and allows the Board to extend this conformance period for specified periods under certain conditions. The Dodd-Frank Act requires that the Board issue rules implementing the Volcker Rule’s conformance period.

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Blackhawk Appoints New President of International

Dan Dmochowski has been promoted President of International with the Blackhawk Network prepaid and financial payments products. With this, Dmochowski will have full responsibility for all of Blackhawk’s International operations, including the development of both product distribution and card partnerships. Under Dmochowski’s direction, Blackhawk Network has already expanded from the United States to 17 countries around the world, and established relationships with the top retailers in each of these countries. Blackhawk Network has successfully secured partnerships with leading retailers in countries such as Canada, Mexico, United Kingdom, France, and Australia.

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3 Major Carriers Launch mPayment JV

Verizon Wireless, AT&T Inc. and T-Mobile USA have partnered to kickoff the “Isis” partnership to compete with credit card companies. Implementing NFC payment through the ‘Gingerbread’ Android smartphone on the Discover Financial Services’ payment network, “Isis” allows users to conduct payments with a wave of their phone and support industry standard NFC chips. This is Discover’s answer to compete with Visa and MasterCard mobile payment initiatives and adds to the fierce competition for the top mobile payment network. This comes on the heels of recent research concluding mobile payments will account for $214 billion in gross dollar volume by 2015, up from US$16 billion in 2010, for a 68% compound annual growth rate. This, according to Aite Group, is based on data drawn from such major players as American Express, Apple, AT&T, Bank of America, Bill2Mobile, BlackBerry, Bling Nation, BOKU, ClairMail, Visa’s Cybersource, Diebold, Discover, Euronet, First Data, FIS, Fiserv, Gemalto, Global Payments, Heartland Payment Systems, Inside Contactless, Intuit, MasterCard, Mocapay, MoneyGram, Monitise Group, mopay, NetSpend, Nokia, Oberthur Technologies, Obopay, Sybase, VeriFone, Visa, ViVOtech and Wincor Nixdorf.

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LUNA

The SafeNet “Luna” HSM has been selected by Cards Prepaid Ltd to support transparent data encryption, PIN retrieval, and high levels of cryptographic operations per second. The Luna SA HSM also ensures compliance with the latest PCI DSS. The “Luna” SA HSM from SafeNet was selected over rival vendors including Thales, due to the combined functionality and service for PIN IVR, customization and support of MSFT EKM. Cards Prepaid is now able to integrate Microsoft’s SQL Database for storage of sensitive customer information, using the Luna SA HSMs to securely store the server’s master cryptographic keys, whilst creating an audit trail to maintain compliance. Deployment of the Luna SA was completed in less than four weeks.

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Fiserv Announces New Repurchase Authorization

The Fiserv Board of Directors has authorized it to repurchase up to five million additional shares of the company’s common stock, or approximately 3 percent of its outstanding shares. As of March 1, 2010, the company had approximately one million shares remaining in its previous repurchase authorization. Under the new authorization, Fiserv may repurchase shares in the open market or in privately negotiated transactions at the discretion of management, subject to its assessment of market conditions and other factors. This authorization does not expire.

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Trustwave Upgrades Web App Firewall

Trustwave information security and compliance solutions has upgraded its “WebDefend” Web Application Firewall. A Web application firewall (WAF) is a technology that provides protection for Web applications (such as an e-commerce site) against cyber attacks. Trustwave WebDefend provides Web applications with real-time, continuous security against attacks and data loss, ensures Websites operate as intended and help businesses comply with PCI-DSS. It protects Web applications from attacks that could disrupt business and compromise sensitive data. The “WebDefend” solution can be purchased as a stand-alone product, or as a component of Trustwave’s 360 Application Security program, which combines Secure Code Training, Application Penetration Testing, Code Review and Trustwave WebDefend with Virtual Patching into a holistic application security program.

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Digital Payment Intros Parking Pay Stations

Digital Payment Technologies parking technology and solutions has sold its “65 LUKE” multi-space parking pay stations to the City of San Buenaventura (Ventura), California. DPT was chosen for its environmentally-sustainable solar powered solution, integration with third-party enforcement and citation processing solutions and industry-leading customer service and support. Additional factors involved with the selection include the aesthetically-pleasing design of the “LUKE” paystations, and the user-friendly interface featuring graphical color screens, receipt distribution and convenient payment options for consumers. Ventura is planning to add mobile phone payment capabilities that will increase convenience for consumers and help the city manage parking more efficiently.

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VISA CEWC 2010

Visa Canada is set to sponsor Credit Education Week Canada 2010 (CEWC 2010) on November 15th – 19th. Reinforcing Visa’s global commitment to financial literacy, the company believes that it is essential to contribute to and participate in important conferences like CEWC 2010. This is the fourth year in a row Visa Canada has supported Credit Education Week. CEWC 2010 will have a special focus on providing financial education to newcomers to Canada. There will be over 30 events running throughout the week across Canada. Participation in many CEWC 2010 events is free and the featured Professional Development Day (scheduled for November 16th), brings together leading experts from the financial services industry, consumer advocacy groups, community organizations and government to help teach professionals, front line service providers and individuals best practices in financial education.

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Ariane Deploys Hypercom Payment Solution

Ariane Systems self-service check-in / check-out kiosk technology for the hospitality industry is set to implement Hypercom “SmartPayments Wynid” integrated payment solution. As the official reseller of the SmartPayments Wynid integrated payment solution to the hospitality industry in France, Ariane now offers an extremely secure universal payment system to maximize security and offer flexibility to hotel chains. Ideal for properties with multiple POS, the “SmartPayments Wynid” solution allows payment to be processed from the check-in/out kiosk itself, from the payment terminal at the front desk or by e-payment, depending on the guests’ preferences. This not only significantly reduces the cost associated with each transaction for the hotel, but also reduces the risk of errors and decreases the length of each transaction to only a few seconds, providing added convenience to the property’s guests.

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