Western Union has commenced its exchange offer to refinance some of its outstanding debt securities, to expire at midnight on on March 29. Offering to exchange up to $500 million aggregate principal amount of its 5.400% notes due 2011 for a new series of notes due April 1, 2020, the coupon on the new notes will be calculated by adding the yield of the 10-year Treasury and 1.35% by March 25th. The total exchange price for the old notes is based on a fixed-spread pricing formula and will be calculated on the second business day prior to the expiration of the exchange offer. Old notes tendered before the withdrawal date may be withdrawn at any time prior to the withdrawal date.Details
Ingenico payment solutions has received the Canadian certification for its “Ingenico OrSPT” fuel and unattended hardware device from the Interac Association Device Certification Program. It will be sold and distributed the “i9780UPT” in North America as a safe alternative to existing solutions for fuel stations and harsh outdoor unattended environments. With the certification, the “i9780UPT” meets or exceeds the stringent Interac Association Chip Unattended compliance requirements, PCI PED and EMVCo L1 and L2 security standards. Ingenico will start marketing the “i9780UPT” terminal in Canada on March 1.Details
Acculynk and Ritz Interactive have made “PaySecure” available across 16 of the companyâs E-commerce websites, affording customers the convenience and security of Internet PIN debit, using nothing more than their current debit card and PIN. Using Acculynk’s “PaySecure” for debit card purchases requires users to enter their code on the Company’s graphical PIN-pad, allowing transactions processed as a PIN debit. Consumers can use PaySecure at a variety of online merchants, including AirTran, Jelly Belly, 2Checkout, ShoppersChoice, and Spirit Airlines. Acculynk secures online transactions with a suite of software-only services that are backed by a powerful encryption and authentication framework.Details
Hypercom Corporation have announced that the retailer Monoprix Group is now using Hypercom’s “Wynid” secure payment server to manage and process all card transactions from more than 300 of its retail outlets. The leading retailer has deployed Hypercom contactless-enabled PIN pads and mobile GPRS payment terminals to process IP transactions throughout its network of stores. Under the terms of the multi-year agreement, Hypercom is providing complete hosting and data management services for the Monoprix supermarket chain as part of a fully managed secure payment service.
With the Wynid solution, consumers are ensured a secure and seamless payment process, using magnetic stripe, chip or contactless cards. The Wynid solution provides highly reliable network access and unmatched speed for all transaction types.
Spending by international visitors on Visa cards at the Vancouver 2010 Olympic Winter Games and in British Columbia so far has topped US$100 million during the Games.Total foreign spend since the beginning of the Games on Visa now stands at US$101.7 million. Since the Opening Ceremony on Friday, 12 February 2010, through to Friday 26 February 2010, international Visa cardholder spending in British Columbia was up 93% compared to the same 14 days last year.
The total number of transactions on overseas issued Visa cards in British Columbia surpassed the one million mark.
The total number of transactions during this period is also up 85% compared to the same period the year before.
First Data Corporation payment processing has expanded its merchant pilot “TransArmor” solution to more than 400 U.S. merchants. The pilot is to be conducted over the next four months, allowing participants to assess the comprehensive data security solution, which was developed in partnership with EMC Corporation. The “TransArmor” secure payments service addresses the root cause of merchant data security issues by removing payment card data from the merchant environment as part of processing the transaction. This significantly reduces risk and the scope of PCI compliance efforts to fundamentally change the way merchants secure and manage cardholder data. Leveraging “RSA SafeProxy” architecture, a combination of asymmetric encryption, tokenization and key management, “TransArmor” offers end-to-end protection and eliminate on-site cardholder data storage for merchants.Details
Global information provider VSoft will provide its “Straight Through
Image Processing” suite to CO-based Pulic Service Credit Union. The
credit union elected to outsource its teller, ATM, merchant and member
image capture services
though VSoft’s ASP platform, VSoft Managed Services (VMS).Previously,
PSCU was leveraging VSoft’s teller capture solution through
a third-party provider along with other imaging products from various
vendors. By outsourcing image processing to VMS, the credit union can
offer its members efficient check imaging services while shifting the
burden of running the day-to-day operations to a trusted partner. VMS
consolidates all image processing services under one platform, which
will reduce costs and enable PSCU to move its services in house to
accommodate future growth.
Socialwise has released “BillMyParents” 2.0 with a MasterCard prepaid
In addition to removing obstacles to online commerce, the
BillMyParents’ prepaid card solution removes the hazards associated with
BillMyParents also maintains parents’ credit card numbers and other
personal information securely, and offers the following unique advantages:
complete parental visibility of teen account activity through immediate
text notification of card purchase activity;
parental ability to instantly freeze and unfreeze a card;
low card-related costs including no purchase transaction fees; and
parental ability to transfer emergency funds in real time to a teen’s card.
Application Security (AppSec), database security, risk and compliance solutions for enterprises, announced a critical update for its ” AppDetectivePro” products for auditors and IT advisors and to its “DbProtect” in response to the Massachusetts Data Privacy Law 201 CMR 17 effective March 1, 2010. AppSec has developed a policy available via free download that will help customers ensure they are in compliance with new Massachusetts state regulations affecting all organizations that own, store, license, process, transmit, receive or handle Massachusetts residentsâ personal information (PI). The downloadable policy will allow automated assessment of the database and includes a MA 201 CMR 17 compliance checklist, complete with detailed guidance on how to configure specific settings within Oracle, Microsoft SQL Server, IBM DB2, Sybase, MySQL and Lotus Notes/Domino to ensure compliance with the law. If you are currently using DbProtect or AppDetectivePro go to: http://www.appsecinc.com/solutions/mass201 to download the Mass 201 policy. AppSec provides database security, risk and compliance (SRC) solutions for the enterprise.Details
BluePay credit card processing and merchant services is intending to attend the Convergence 2010 expo in Atlanta, being held from April 24 to April 27. Hosted by Microsoft Dynamics at the Georgia World Congress Center, Convergence offers business professionals the opportunity to expand and achieve their business goals through networking, hands-on learning and keynote speakers. BluePay will be highlighting its merchant processing solutions, which range from secure payment gateways to the latest in credit card processing equipment, and giving away its Microsoft GP plug-in. The plug-in, which is valued at approximately $4,000 to $5,000, allows business’ accounting systems to communicate seamlessly and securely with the BluePay gateway. BluePay can integrate with Microsoft Dynamics GP, Microsoft Dynamics AX, and Navision accounting programs.Details
TSYS and First National Bank of Omaha (FNBO) have signed agreements to form First National Merchant Solutions (FNMS), allowing TSYS a top-10 presence in the US merchant acquiring market. Under terms of the agreement, TSYS will acquire 51% ownership of FNMS for approximately $150.5 million while FNBO will control the remaining 49%. FNMS had net revenue of $93 million in 2009, offering transaction processing, merchant support, value-added services and Visa- and MasterCard-branded prepaid cards to businesses. TSYS outsourced payment services provides issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions.Details
American consumer spending continues to slide, with 85% expecting at least one year to pass before seeing any improvement to the economy. Meanwhile, 42% expect the recovery is still one to two years away, thanks in large part to 32% disclosing insecurities regarding their employment; 28% reporting a reduction in their income over the past year; and 50% reporting a reduction in their savings since the year ago period. This findings, according to Auriemma Consulting Group (ACG), also show some signs of optimism, with 39% disclosing their own financial situation to be better a year from now, compared to 31% who felt that way in January 2009. Additionally, 32% surveyed in January 2009 expected their personal finances to get worse over the course of the year, compared to only 23% in January 2010.Details