Protegrity Extends Mainframe Data Security Protection

Protegrity USA end-to-end data security solutions has made available its “Protegrity Data Security Platform 5.2: for Mainframe” to offer scalable protection of sensitive data within the IBM Mainframe computing environment. The new solution allows large enterprises and government organizations to manage their protection of databases, files and applications under a single policy, lowering the total cost of ownership for meeting regulatory compliance. Compensating controls allow users to meet requirements for PCI DSS and other regulatory compliance. The new Protegrity solution has the breadth and ease of integration with enterprise key management capabilities required for companies to actually protect data on the mainframe instead of using compensating controls.

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Navy Federal Approved for Merger With USA Fed

The National Credit Union Administration (NCUA) announced the request for merger for Navy Federal and USA Fed was approved by each institutions’ Board of Directors. With this, all USA Fed’s 19 branches will become part of the Navy Federal branch network. Additionally, Navy Federal is inviting all USA Fed members to visit existing USA Fed branch offices to activate their new accounts and take advantage of Navy Federal’s great offers such as low loan rates and top-rated credit cards. The combined credit union will have over 200 branches worldwide, with 22 located in Southern California, over $43 billion in assets and more than 3.5 million members.

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86% Want mFraud Alerts, 41% Prefer Internet Banking

Regarding suspicious account activity, 86% of bank account holders
expect to hear about suspicious activity within one hour or less while
55% want automated messages from banks. However, only 36% currently
receive communications from their banks via calls or SMS cell phone text
messages. Meanwhile, 69% would like their bank to provide real-time
communication channels and 86% would accept immediate notification via
automated systems, according to a recent Adeptra survey of 200 U.S.
account holders. This is in conjunction with recent findings showing
41.4% of consumers’ preferred banking channel is the Internet; 32.6%
prefer branch banking, 23.3% prefer ATM banking while only 1.5% prefer
m-banking. When confronted with a banking problem or possible fraud,
however, 60% prefer to visit a branch, 34% prefer to use the phone and
only 6% like to contact the bank online. With 51.2% of U.S. consumers
having a hard time trusting the security of mobile banking, compared to
the 21.7% whom do not trust Internet banking, bank customers are very
specific regarding which channels they prefer in certain context (CF
News Library 2010/09/30).

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TD Bank Further Expands US Operations

Canadian-based TD Bank Financial Group completed its acquisition of the FL-based South Financial Group. The FL Bank’s operations have already been converted
to the TD platform. With this, TD will introduce its brand, retail banking and regional banking model across South Financial’s existing footprint. TD lending
has grown in the U.S. by 20% since 2007. TD has grown to one of the 15 largest commercial banks in the United States, providing customers with a full range
of financial products and services at about 1,300 convenient locations from Maine to Florida.

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Adaptive Payments& IP Commerce Launch PIN-Debit

Adaptive Payments PIN authentication platform for debit transactions and IP Commerce API platforms have integrated their platforms to facilitate the delivery of Adaptive’s secure payment authentication services to software companies and developers through IP Commerce’s Managed Commerce Services Platform. Adaptive’s unique “5DSecure” five-factor authentication service dramatically enhances payment security and consumer confidence at checkout by separating sales and customer data entered online from PIN and/or other authentication data acquired through the customer’s mobile or land line phone – allowing software companies who need to support payment processing to offer secure, more cost effective, PIN Debit payment options for card-not-present transactions.

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Cardlytics Offers Prepaid Rewards Program

Cardlytics transaction marketing in banking has added its first prepaid debit card portfolio to its substantial base of card customers. FSV Payment Systems network branded prepaid card products and processing services is pioneering targeted reward offerings to its prepaid users using the Cardlytics platform. Through the partnership, merchants are able to provide promotional offers to valuable consumers through loyalty incentive programs associated with FSV’s branded prepaid cards. Cardholders view offers through online access to their prepaid card activity and redeem those offers through simple use of the card. Selecting offers allow account holders to activate or “accept” rewards before redeeming them at a number of national, local and online retailers without coupons or promotion codes.

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76% of Small Businesses See Recovery in 3-6mos

With 72% of small businesses planning to add positions despite the current economic situation, up 23% from last year, optimism regarding the economy is on the up and up. Also reflecting these sentiments is 94% of small businesses believe businesses like theirs are “important” in leading the U.S. out of the current recession; 76% predict their business will improve over the next three to six months; and 75% are in either an ‘aggressive’ or ‘moderate’ growth phase. These findings, according to a survey released by Ink from Chase of Chase Card Service, also showed 64% said their firms will either exceed or meet both revenue and profit goals for fiscal 2010. Additionally, only 37% of last year’s respondents said the same for 2009 while 56% found their financial and purchasing needs easier to meet during the past six months, compared to only 39% last year, prompting many to encourage prospective small business owners with “the time is perfect to start a new business,” “do something you are passionate about,” and “stay positive and be open to new ways of doing business.”

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MasterCard & Cardtronics Forge Fee-Free ATM Partnership

MasterCard Worldwide and Cardtronics have forged their partnership to allow Prepaid MasterCard issuers to expand their ATM footprints through the Cardtronics “Allpoint Network” surcharge-free ATM Network. This allows issuers to compete for new business and provides participants surcharge-free access to more than 32,000 ATMs within the United States. Present in 50 states, Allpoint’s surcharge-free ATMs are located in highly trafficked retail locations. Cardtronics non-bank owner of ATMs operates over 33,700 ATMs across its portfolio, and places ATMs and provides financial institutions nationwide surcharge-free access for a more competitive edge through Allpoint.

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Hypercom $290mm Acquisition Proposal Quickly Rejected

VeriFone Systems sent its letter, seen below, to the Board of Directors of Hypercom Corporation proposing to acquire all of its outstanding shares for $5.25 per share in cash for a total of $290 million. In response to the detailed, unsolicited non-binding proposal to acquire all of the outstanding shares of Hypercom, the Company quickly responded with its rejection thanks to its projections of a prosperous 3Q/10 high above Wall Street predictions of $112 million in net revenues. Subsequently, shares in Hypercom exploded 44% to $6.10, immediately overvaluing the VeriFone proposal. After thorough review of the letter, the Hypercom Board concluded the proposal significantly undervalues its Company and its future prospects and is not in the best interests of stockholders. The Board decided this proposal is only intended to disrupt Hypercom operations after having taken market share from VeriFone in several markets. In response to this rejection, sources are disclosing Verifone has not completely ruled out the possibility of a hostile takeover. , after Hypercom’s board spurned a higher, all-stock offer made last week.

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Elan Partners & Cbsi Loyalty Launch Debit Rewards

Elan Financial Service and Cbsi Loyalty Solutions have partnered to kickoff the “Advantage Points” debit card rewards program for Elan customers. Designed to accommodate the needs of both financial institutions and their debit cardholders, the “Advantage Points” debit rewards encourages cardholders to use their card through enhanced reward opportunities for “Total Access” to over 300,000 merchandise items, gift cards, travel, green products, experiences, charitable donations and memberships. In addition to the core Advantage Points rewards program, Cbsi Loyalty Solutions also provides 24/7 support service to all cardholders and an in-house travel agency to book all travel reservations. Elan is a full service, fully integrated EFT processor that provides ATM and debit card programs to more than 1600 financial institutions.

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Flint to Offer mRemittance Services With Acquisition

Flint Telecom Group is nearing completion of the due diligence process to acquire 100% of a U.S. based international remittance company. Following the successful completion of the necessary due diligence which is already underway, the transaction is expected to close within the next 30 days. This acquisition will allow Flint Telecom to access the international market of mobile money transfer, which Juniper Research believes to be worth $65 Billion worldwide by 2014. With this, Flint Telecom will establish a system of prepaid debit cards through its existing market outlets.

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Hypercom& TeleCash Deploy Payment Card Terminal

First Data’s TeleCash network operator has begun marketing the Hypercom “medHybrid” multifunction healthcare and credit/debit card payment terminal. The high security “medHybrid” incorporates two card readers to process the German health insurance cards (KVK and eGK) as well as credit and debit card payments. The Hypercom “medHybrid” has received e-Health BCS (Basic Command Set) approval from Gematik, the German healthcare organization. It is approved as compliant with the current EMV POS terminal specification from the Central Credit Committee (Zentraler Kreditausschuss — ZKA) in Germany, and approved by BSI (the German Federal Agency for Security in Information Technology).

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