MasterCard to Acquire DataCash, Expand E-Commerce Payment

MasterCard Incorporated will acquire DataCash Group payment service for $520 million to develop a long-term growth platform. DataCash allows e-commerce merchants to process secure payments and develops outsourced electronic payments solutions, fraud prevention, alternative payment options, back-office reconciliation and solutions for merchants selling via multiple channels through its fraud solutions and technology platform. DataCash processed more than 240 million transactions for more than 1,400 merchants in 2009, for which it reported an annual revenue of $58 million with an EBITDA margin of 46%. Mastercard sees this development as a means to drive the growth of the e-commerce category with its acquiring customers for online purchases; expand and enhance its “MiGS” gateway business currently operating in the Asia Pacific region; to leverage its network and global presence by expanding DataCash to beyond western Europe; and to strengthen fraud capabilities and expertise.

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Verint Gets PCI DSS Customer Recording Protection Patent

The United States Patent and Trademark Office has issued a new patent to Verint in the area of recording technology and the protection of interactions and sensitive information as required by the Payment Card Industry Data Security Standard (PCI DSS). This new patent and its related families of issued and pending patents further broaden Verint’s industry-leading portfolio of patents and applications worldwide across its enterprise workforce optimization solutions. Because recordings can contain sensitive credit card details and other personal information, such as social security numbers, they require enhanced protection and recording processes — including, for example, an added level of encryption for the data, a secure storage environment, and/or options not to record certain sensitive data at all. Verint’s newly issued PCI-related patent (U.S. Pat. 7,774,854), entitled “Systems and Methods for Protecting Information,” enables companies to mask, encrypt and/or protect portions of an interaction that contain sensitive information, such as cardholder data, or altogether cease recording for the portion containing that information.

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ClairMail Expands mBanking Effort

ClairMail mobile banking and payments solutions announced a new suite of international mobile banking capabilities designed to facilitate transactions across global markets and multiple currencies. These include Multi-Currency Account Management, allowing financial institutions to offer cross-currency mbanking and payments functionality to customers; and international ATM/Branch Locator; and Multi-Language Capability and Customized Localization, allowing banks to customize user interfaces based on local markets. ClairMail mobile solutions for banking, payment and card services provides a technology platform designed to help financial institutions realize the strategic potential of mobile banking, driving new levels of customer trust and loyalty, facilitating cross-sell opportunities and enabling near term, measurable cost savings.

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Cardtronics Announces Pricing of Offering of 7mm Shares

TX-based Cardtronics non-bank owner of ATMs has announced the pricing of a secondary public offering of 7 million shares of already outstanding common stock at a price to the public of $14.00 per share. The shares of common stock are being sold by the following selling stockholders: CapStreet II, L.P., CapStreet Parallel II, L.P., and investment funds affiliated with TA Associates. The offering is scheduled to close on August 24, 2010. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock to cover over-allotments, if any. Cardtronics will not receive any of the proceeds from the secondary offering of shares of its common stock by the selling stockholders.

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Oberthur Technologies Awarded Innovations

Oberthur smart cards technology and related services, has received several prestigious awards for its innovation in the first part of 2010. Having received two International Innovation Awards from ACT Canada, a non-profit association that focuses on smart card technology in Canada, the company is being recognized for introducing innovative new technologies, applications and services into the payment card market. Namely, Oberthur’s “Smart Pin” won for being the first service that allows card issuers to securely deliver card PINs via mobile text message while in the Business Model Service category, Oberthur’s “EMV-In-A-Box” won for being able to provide issuers a turnkey EMV Migration solution. Oberthur Technologies also won the Élan Award for Unique Innovation at the International Card Manufacturing Association (ICMA) EXPO, held in Scottsdale, Arizona.

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USAA Federal Savings Bank Ranked Best mBanking

A new Javelin Strategy & Research report, “2010 Mobile Banking Scorecard – Shift in Smartphone Ownership Calls for a Shift in Focus: How 19 Top Financial Institutions Compare on Mobile Channel Retail Delivery,” has rated USAA Federal Savings Bank “Best in Class” in m-banking for the second year in a row. Javelin determined that 19 of the top 30 largest financial institutions (FIs) offer mobile banking. They judged and scored those 19 in five categories of criteria: marketing and security messaging, mobile access, general mobile banking features, short message service (SMS) features and security.

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American Express Ranks Highest in Customer Satisfaction

American Express has been ranked #1 in customer satisfaction among 10 of the largest card issuers in the U.S., according to the fourth annual nationwide study by J.D. Power and Associates. This study was based on customer interaction, billing and payment process, credit card terms, rewards programs, benefits and services, and problem resolution. American Express credits its investments in recent years, focusing on customer service with the “Relationship Care” approach for building and strengthening customer relationships. Also, services such as the Amex “Money Manager” fee free online service that helps Cardmembers manage their finances and rewards accounts; “Card with Custom Limits” feature providing Cardmembers the ability to set spending limits for Additional Cards on their account; and mobile payments, allowing users to pay their American Express bill on the Apple iPhone and iPod Touch, are all being credited with the JD Power ranking. Additionally, a more engaged workforce has led to greater productivity, lower employee attrition, and higher customer satisfaction.

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CITIBANK

Citibank Thailand has introduced its “Citi Locator” iPhone App mobile service. Allowing customers to search for Citibank World Privileges (CWP) offers in 27 countries, “Citi Locator” utilizes GPS technology embedded in all models of the iPhone to enable searches. In Thailand or other countries, customers can now easily find special offers by using the “Search Nearby” function. They can also select “Search by Location” as well as specify preferred merchant categories, including dining, shopping, sport and travel. Customers who travel often will find city- and country-specific search functions for 27 major countries.

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DebitFacts.org Names Debit Video Contest Winner

DebitFacts.org online educational debit resource announced Pete Herron of Moorestown, N.J., as the “Are You Debit Smart?” video contest grand prize winner. Herron, who shared why his debit card is his preferred form of payment, was awarded $5,000 on a prepaid Discover Card and a one-hour money management session with Judy Lawrence, financial counselor, author of The Budget Kit and founder of www.moneytracker.com. The winning entry received the highest overall scores based on creativity, thoughtfulness, originality, objectivity and entertainment and inspirational value. Reggie Schickel of Charlotte, N.C., was awarded second place, receiving $2,500 on a prepaid Discover Card and consultation with Lawrence while Adam Gruse of Mequon, Wis., was awarded third place, winning $1,000 and also time with Lawrence.

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VISA

Visa announced it is in compliance with the Code of Conduct for the Credit and Debit Card Industry and reaffirms its intention to operate within the Code of Conduct’s framework. Visa has worked and continues to work with the Department of Finance, the Financial Consumer Agency of Canada and its Canadian business partners to ensure that the interpretation and implementation of the Code of Conduct is consistent, provides benefits to consumers, and sets a level playing field for all parties. Visa has consistently demonstrated transparency, one of the Code’s key tenets, and has been an industry leader in this area. Visa has publicly disclosed its domestic interchange rates on its website since November 28, 2008.

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IRAN SANCTION

The Reserve Bank of Australia under Regulations 1959 has administered financial sanctions against Iranian entities and persons who contribute to Iran’s proliferation activities. The Australian Government imposed further autonomous sanctions against Iran to reinforce UN Security Council Resolution 1929. With this, The Australian Government has directed the Reserve Bank to add nine persons and 80 entities to the Annex of names subject to financial sanctions under the Banking (Foreign Exchange) Regulations 1959. The updated Annex now contains 21 persons and 91 entities.

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