EAST 2009

EAST (the European ATM Security Team) has reported a 36% drop in ATM related fraud losses in 2009, with total losses of 312 million Euros reported (down from 485 million Euros in 2008. International losses due to skimming attacks fell by 43% from 393 million Euros to 226 million Euros, continuing a downward trend for each six monthly reporting period first noticed at the end of 2007. This is further indication that the EMV rollout at ATMs in Europe (now 94% complete) is helping to reduce skimming losses, and also that fraud counter-measures, fraud monitoring capabilities and fraud detection continue to improve. Losses continue to be reported globally, and the risk of counterfeit EMV cards being used to withdraw cash fraudulently from ATMs in parts of the world that are not EMV compliant remains. Annual losses due to card skimming have fallen for the first time since EAST began reporting in 2004 (down from 484 million Euros in 2008 to 310 million Euros in 2009). Despite this drop in losses, overall ATM related fraud attacks rose 8% with a total of 13,269 incidents reported, up from 12,278 incidents in 2008.

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ThreatMetrix Fighting Online Fraud With OnlineLabels.com

Fraud detection provider ThreatMetrix has been enlisted by OnlineLabels.com to control online
fraud. With the “ThreatMetrix Fraud Network” now in place, OnlineLabels.com has
added another measure to their system in order to facilitate the
processing of legitimate orders and block fraudulent ones. The “ThreatMetrix Fraud Network” enables companies such as
OnlineLabels.com to customize a collection of fraud rules to instantly
review and analyze transactions. Based on criteria set forth by the
company, every transaction is given a fraud score every time an online
order is entered into the OnlineLabels.com order processing system. When
an order hits a pre-determined score, it will automatically go into a
fraud review queue. It is then up to the company to review it and gather
additional data by contacting the customer. If upon closer examination
it is determined to be fraudulent, the order is manually rejected. The
ThreatMetrix Fraud Network can then automatically add transaction and
device identifiers to blacklists. If the order is determined to be
legitimate, it is released from the fraud review queue for order
processing and added to a whitelist for future reference.

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Hypercom Payment Software Achieves PCI PA-DSS Approval

Hypercom security electronic transaction solutions’ “SPOS32” payment software application, versions 3.0 and 3.1, have been PCI PA-DSS validated. Immediately available to support the Company’s “Optimum” countertop and mobile card payment product portfolio, this follows PCI PTS 2.1 the recent security approval of Hypercom’s Optimum “L4150” multilane payment terminals and L4150 Secure Keypad. Hypercom was also recently awarded the Sesame Award for its “HyperSafe Remote Key System” (HRKS) last November. Hypercom’s popular new Optimum product portfolio includes the T4205, T4210, T4220 and T4230 countertop and M4100, M4230 and M4240 mobile card payment terminals. Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products, software solutions and services in more than 100 countries.

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CashStar Adds Three Management Execs

Digital gift and incentive provider CashStar has
added three new management executives to its growing team. Andrew Dodge
joins as Vice President of Corporate Sales, Kathleen Goodwin comes on
board as Vice President of Marketing and Simon Herron has been named
Director of Business Development. Dodge will focus on growing
market share of CashStar’s innovative corporate and bulk products among
leading retailers, incentive firms and third-party distributors. He
most recently led L.L.Bean’s sales organization in the business division
for seven years by developing national account programs for marquis
brands in corporate America. Goodwin will lead
all aspects of CashStar’s corporate and consumer-driven marketing
programs. She will be integral to developing a strong online marketing
and social media presence for the company and to working with retailer
marketing teams to create marketing and promotional programs that help
drive their eGift card sales. Herron will focus on leveraging his
financial services expertise to help CashStar maximize value with
customers and shareholders.

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BMO DEBIT

Electronic retailer redcoon GmbH has selected Wirecard AG payment services. The agreement signed with Dutch subsidiary redcoon B.V. comprises the processing of credit card payments along with an additional risk management package as well as credit card acceptance (Acquiring) services via Wirecard Bank AG. To be able to protect payments by credit card even better from fraudulent card abuse in cross-border business operations, redcoon has opted in favor of deploying additional risk management processes. An IP/BIN check takes only seconds to identify a potential risk of fraud in the course of a credit card transaction. The IP address is used to determine the location of the PC, which is compared with the first six figures of the credit card number (BIN). The BIN localizes the country in which the credit card was issued. If this reconciliation reveals that different countries are involved, then the transaction is denied. With the aid of so-called velocity checks, recurring patterns of payment transactions can be analyzed within a defined period of time. For Visa and MasterCard users, redcoon also makes the 3-D-Secure process available, which protects card payments for buyers and sellers.
The redcoon online shops established in nine European countries at present will gradually be integrated one by one: Germany has already been integrated, to be followed soon by Denmark and, step by step, Belgium, Italy, Spain, Poland, Portugal, Austria and, finally, the Netherlands.

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Prepaid Rebate Cards to Grow in Popularity

With more than 83% of consumers actively seeking out rebates, prepaid rebate cards are pegged to increase annual volumes substantially. More than $2.5 billion has been loaded onto rebate cards and 95% of consumers say they would definitely/maybe chose a prepaid rebate card over checks. This, according The Network Branded Prepaid Card Association (NBPCA), also shows consumers that redeem rebates are part of the 60 million underbanked without bank accounts. Since Prepaid rebate cards are branded by American Express, Discover, MasterCard or Visa, the funds can be used anywhere and usually do not expire for at least twelve months.

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GUESTLOGIX & ALPHA

Onboard store technology provider GuestLogix has partnered with Alpha Flight Services Pty Ltd. to deploy the GuestLogix onboard retail platform and OnTouch(TM) products and services with Alpha customers in Australia and New Zealand. Alpha provides in-flight catering at nine airports in Australia and serves 16 customer airlines. Alpha customers will use the GuestLogix onboard retail platform that includes handheld point-of-sale (POS) devices to facilitate a more convenient purchase experience for both the flight attendants and passengers. The solution provides Alpha customers with promotions and sales management, cash control, payment processing and inventory management as well as the ability to accept credit card and cash payments. They can also take advantage of the GuestLogix platform to launch “OnTouch” in order to help its customers introduce destination-based, travel-relevant products and services inside the cabin to grow new ancillary revenues. The GuestLogix onboard retail platform is an end-to-end solution that complies with the most current payment industry security standards to significantly reduce the onboard risk of fraud and credit card processing losses.

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AIS Rolls Out Mobile POS Touchscreen Tablet PC

Panel PC manufacturer American Industrial
Systems has introduced a lightweight 10.4 “Rugged Touchscreen
Tablet PC” designed for mobile point of sale, data entry, and monitoring.
Completely sealed, the unit allows for mobile reporting, logging, and POS ordering
in rain, dust and vehicle use. It has I/O connections to an IP54
dust/waterproof rating and a rugged housing with rubber
bumpers for enhanced shock and vibration resistant operation. Optional
standard and glass-film-glass (GFG) resistive touchscreens are also
available for excellent durability during heavy commercial usage which
would wear out standard touchscreens. Vibrant color and sharp text in
direct outdoor sunlight is perfect for running
applications, reading documents, and surfing the web. Everything is
packaged within a compact lightweight rugged chassis weighing in at
2.6lbs and featuring IP54 rated water/dustproof resistance, multiple
3-foot drop rated, and enhanced shock and vibration protection.

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Mint.com Launches Cash and Check Management

Mint.com has made it easier for users to track their cash spending and monitor pending expenses, addressing a top user request by enabling manual entry of transactions. Users need only enter the amount and merchant, which Mint.com will automatically deduct from their most recent ATM withdrawal, unless they choose otherwise. Mint.com will then apply the spending to the appropriate category and budget. For checks, entering the check number and payee means the expenditure will be automatically reconciled when the amount clears. The new spend tracking feature accounts for tips, gifts, bonuses, owed money, or other income paid in cash or personal checks. Cash, checks and pending transactions will sync directly into a user’s account – tied to current budgets, personalized tags, categorized merchants, and linked accounts.

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Citi Names New EMEA Head

Citi has hired Marc Luet as head of Citicorp Consumer in Europe, the Middle East and Africa (EMEA), where he will be responsible for further expanding the bank’s leading presence in emerging markets. Bringing with him more than 20 years of retail and credit card experience, including many years in the Central & Eastern Europe, Middle East and Africa region (CEEMEA), Luet was CEO of Citibank Belgium and CEO of the retail business for Citibank Hungary. He was also CEO of Consumer Finance and Retail International at Fortis Group. Citi is present in 10 CEEME countries, has more than 1.5 million retail bank clients and 2.5 million credit card accounts. The bank’s credit card market share exceeds 10% in five countries.

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Travelex and Kyriba Team To Simplify Payment Network Processing

Travelex Global Business Payments and Software-as-a-Service (SaaS) cash
and treasury management solution provider Kyriba,
have established an alliance intended to simplify the execution of
domestic and international payments worldwide. The joint solution will
enable a straight-through process for global payments from one portal
and afford enterprise-wide visibility of cash flows and forecasts across
all currencies. Kyriba’s SaaS treasury platform allows for rapid
integration with
Travelex’s Global Payment System, facilitating a shorter delivery time
and security for executing payments. The Travelex/Kyriba partnership
expands the services available to
corporate treasuries around the globe by offering improved currency
exchange choices and providing an alternative for the execution of
payments directly available through a treasury management system.

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