ThreatMetrix Examines Fraud Prevention for Online Banking

Fraud solution provider ThreatMetrix has released a new report that examines fraud prevention for online banking
The report, “Trends in Online Banking: Fraud Prevention
and Customer Authentication,” reports that banks and merchants spend large sums of money to
identify and block suspicious credit card purchases and applications,
but many of these technologies were designed to prevent fraud by means
other than the Internet. The result is that in their eagerness to reduce
online fraud, many banks and merchants have also unwittingly blocked
legitimate orders thereby leading to lost valid orders, long-term damage
to their brands, and a negative customer experience.
Other key findings from the report include: 56% of respondents overwhelmingly cited new credit card applications as
the top risk of financial risk of financial loss from fraud.
Over half of the respondents stated that CNP (card not present)
purchases carry the most risk of loss with 65% of respondents predict an increase in online fraud attempts using
stolen or synthetic customer credentials over the next 18 months and 56% of respondents indicated that more than 5% of customer
authentication attempts are fake or fraudulent. The two most cited priorities for new online customer authentications
were reducing fraud losses and protecting their brand. ThreatMetrix helps companies control online fraud
and abuse in real time so they can significantly reduce on-line fraud,
acquire more customers faster, reduce costs, and increase customer
satisfaction with an SaaS approach to
implementation enables companies to get results in hours or days, rather
than weeks or months.

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Invenstar Launches All-In-One Touch Screen POS

Invenstar has made available its “TouchSuite Pro” all-in-one touch screen retail management, POS system, fashion boutique and clothing retail software. It was developed with industry professionals as an all-inclusive POS system for boutique management, pre-loaded and ready to use. Upgrades include enhanced debit card support, custom gift cards, a new customer-facing display, create and print barcodes, jewelry labels, and a smart bulk inventory manager. The “TouchSuite Pro” solution provides a full suite of business modules for client management, inventory purchasing and receiving, email and text marketing, and merchant services such as integrated credit card and gift card processing and reporting, and free upgrades. Invenstar focuses on innovating financial technology solutions to simplify business management for small/medium sized businesses through advanced merchant services.

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Plastic Jungle Gift Card Exchange Reports Market Peak

Gift card exchange marketplace Plastic Jungle reports that the peak of gift card purchasing occurred
on December 15 and 16, as shoppers loaded up on discounted cards to get
an extra savings on holiday gifts. The site also saw peaks of gift card
owners selling their cards just after Christmas—on January 4 and January
12—as users cashed in gift cards they received in order to get what they
really wanted or to pay off their holiday debt. The top 10 brands were Macy’s, Walmart, Lowe’s, Land’s End / Sears / Kmart,
The Home Depot, Best Buy, Target, Starbucks, iTunes and FYE.
The top states that bought the most gift cards on Plastic Jungle over the
holidays were: California, New York, Maryland, Florida, Illinois and
Texas. The top states that sold the most gift cards on Plastic Jungle
were: California, Florida, Arizona, New York, North Carolina,
Pennsylvania and Texas.

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Pulse Introduces Set of Monopole Antennas for POS Apps

Pulse has introduced its new set of monopole antennas for M2M devices that include POS applications. The antennas deliver
Zigbee 2.4 gigahertz (GHz) and ISM bands 868 megahertz (MHz), 915 MHz,
and 2.4GHz. These antennas are alternatives to using trace
antennas because they occupy very little printed circuit board space
while maintaining their key properties regardless of changes to the
board. They provide a high-quality radio interface for multi-purpose
machine-to-machine (M2M) devices and applications such as data loggers,
remote control, tracking, monitoring, Smart Grid, automated meter
reading (AMR), tags, remote keyless entry, industrial, metering,
security, automation, and point-of-sale (POS).

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Acculynk Announces New Executive Vice President of Issuer Development

Acculynk payments provider has appointed Ulrike Guigui Executive VP of Issuer Development. Guigui brings with her extensive experience in the consumer finance and payments industries, in both Europe and North America, most recently at MasterCard and GE Money. With GE Money, she served for seven years in marketing and business management roles across both European and US platforms, was Managing Director of GE’s largest auto financing business and went on to build a credit card business in Switzerland. Guigui started her career as a management associate at Citibank where she held a number of roles over her ten year tenure in marketing and managing credit cards in Europe and the U.S., as well as serving as marketing manager for the Private Bank across EMEA.

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GSA Approves SCM Microsystems Thumb-Sized PIV Card Reader

SCM Microsystems, provider of solutions for secure access, secure identity and secure exchange, has introduced its thumb-sized “SCR3500 SmartFold” Personal Identity Verification (PIV)/Common Access Card (CAC) smart card reader. The device has been approved by the General Service Administration (GSA) for use by U.S. government agencies and employees. The “SCR3500 SmartFold” is ideal for notebooks without integrated card readers for protecting sensitive business anywhere, at any time, with full security right through the USB port. The portable contact smart card reader will fit easily on employees’ key rings and in their pockets. The reader is compliant with all Federal Information Processing Standards 201 (FIPS 201) and PIV/CAC card requirements, and is ready for purchase by government agencies and/or their purchasing agents. SCM Microsystems smart card-based products offer secure access, secure identity and secure exchange using a range of contact, contactless and mobile smart card reader and terminal technology.

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97% Accept Heartland & Visa Breach Settlement

Financial institutions representing more than 97% of eligible Visa-branded credit and debit cards have accepted the Alternative Recovery Offers they received pursuant to the settlement entered into by Visa, Heartland Payment Systems and Heartland’s sponsoring acquirers in January. This level of acceptance fulfills the 80% opt-in condition that was one of the requirements of the $60 million settlement. This provides these issuers a recovery from Heartland with respect to losses they may have incurred from the 2008 criminal breach of the payment processor’s payment system network. Visa, Heartland and Heartland’s sponsoring acquirers have agreed to renew the Alternative Recovery Offer to the non-accepting issuers until Monday, February 8, 2010.

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Aite Group Examines Online Channel Priorities for Credit Unions

Aite Group examines the online channel priorities for credit unions in 2010.
According to the report, 2010 is shaping up to be a good year
for investment and strategic focus on the online channel.
While the financial crisis and current recession have been challenging
for all financial institutions, credit unions have enjoyed several new
opportunities. A majority of credit unions have experienced deposit
growth as a result of the financial crisis, while many see increased
interest in the credit union model, increased market share in their
geographic footprint, or new member growth resulting from consumer trust
in credit unions. With these opportunities, however, comes increased
pressure on credit unions to extend their service and trust advantages
to the online channel.

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MOODY’S

Moody’s Investors Service has released the analysis of Japanese
installment sales loan receivables ABS. The new report, “Moody’s
Approach to Rating Japanese Installment Sales Loan Receivables ABS”
analyzes the transactions’ underlying assets and member merchants.
Specifically, with the underlying assets, Moody’s estimates the expected
performance of asset pools during their relevant terms, by using the
performance data of an originator’s entire portfolio of receivables.
Moody’s also considers the macro-economic trends, and then develops
stress cases for the pools.And in its analysis of member merchants,
Moody’s looks at the risks associated with them, including the risk that
individual sales contracts may be cancelled because of the non-delivery
of goods or services.

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AMEX AXCENTIS

American Express Canada has launched “aXcentis”, a comprehensive travel management program that is
local in its delivery and flexible in its design to address the needs of small to mid-sized companies
who previously may not have had access to travel management programs. aXcentis has been designed to ensure companies do not
under-invest or overspend as their need for travel increases in line
with economic revival. aXcentis manages 100% of total travel and expense spending with a focus
program strategy – aXcentis applies proprietary methodology to
evaluate a company’s current travel and expense process, identifies
areas of improvement and matches a comprehensive, business goal-
driven program with clearly defined measurements for return on
travel investment; cash flow management/spend recycling, employing a system to
manage budget spent on unused travel so these resources can be
applied to future trips, which can free up cash to invest in other
business areas and insight and benchmarking. Ongoing program management is handled through a local and dedicated
aXcentis client management team that will work with companies to
optimize their program and provide counsel to help them realize the
greatest return on travel spending. Additional benefits of aXcentis include:
access to exclusive negotiated deals with suppliers and the lowest
total trip costs and an automated travel manager suite, including a pre-trip auditor
and authorization tools, which support travel policy both on and
offline.

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Cardtronics to Present at the Deutsche Bank Securities Conference

TX-based ATM provider Cardtronics will present at the “Deutsche Bank
Securities 2010 Small and Mid Cap Conference” on Monday, February 8 in
Naples, Florida.
A simultaneous audio webcast of the presentation will be available
online through the investor relations section of Cardtronics’ website at
www.cardtronics.com. Cardtronics operates
approximately 33,400 ATMs across its portfolio, with ATMs in every major
market in the United States and Puerto Rico, over 2,600 ATMs throughout
the United Kingdom, and over 2,600 ATMs throughout Mexico. Major
merchant clients include 7-Eleven, Chevron, Costco, CVS/pharmacy,
ExxonMobil, Rite Aid, Safeway, Sunoco, Target, and Walgreens.

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