LMLPAYMENT.COM

LML Payment Systems has launched its new
website(http://www.lmlpayment.com). The payments technology provider of
financial payment solutions for e-commerce and traditional businesses
has made available the new site to offer an investor relations platform.
This is meant to enable investors to easily access timely information
and sign up to receive email news alerts. LML is also launching the site
to more easily provide relevant information to shareholders in much
greater depth and with greater efficiency, allowing visitors to receive
email news alerts. LML Payment Systems provides financial payment
processing solutions for e-commerce and traditional businesses for
credit card processing, online debit, electronic funds transfer,
automated clearinghouse payment processing and authentication services.

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7-Eleven Leads the Charge on U.S. Interchange

The battle to lower U.S. credit card interchange fees is being showcased next week by the nation’s largest convenience store chain, ironically built on excessive margins and mostly cash sales. 7-Eleven, which has become a “Poster Boy” for retailer associations and their battle with the payment networks, says it has collected more than 1.6 million signatures in its “Stop Unfair Credit Card Fees” petition drive.
According to other reports more than half of the signatures were generated from minors. The signature drive ran from June 22nd through August 10th at store counters coast-to-coast. 7-Eleven is bringing eight store operators to Washington, D.C. that represent the various U.S. divisions where stores are located so they can present nearly 15,000 petition booklets to their Congressional representative. They will also participate in a press conference on September 30th at the U.S. Capitol.
Visa recently released a survey that revealed that by a 2-to-1 margin, consumers say retailers should pay the cost of accepting credit and debit cards. About 78% of consumers believe the value and benefits retailers receive from accepting credit and debit cards outweigh the costs of accepting them. Visa says retailers and their well-funded trade associations have filed lawsuits and are aggressively lobbying Congress to allow them to shift their business costs to consumers by allowing merchants to charge checkout fees whenever consumers use credit or debit cards. At the same time, national convenience store chains have launched misleading, in-store petition campaigns to cover for their checkout fee efforts.

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JULY LEI

The Conference Board Leading Economic Index (LEI) for Mexico increased
for the 5th consecutive month by 1.3% while The Conference Board
Coincident Economic Index (CEI) increased 0.4% in July. With the 1.3%
increase in July, the Conference Board LEI for Mexico now stands at
110.3 (2004=100), which increased 2.3% in June, increased 2.3% in May
and having increased a total of 10.3% over the 6 months prior with all
components increasing. Meanwhile, the CEI now stands at 105.0
(2004=100), which decreased 0.1% in June, decreased 0.9% in May and
decreased a total of 2.3% throughout the six-month span prior to July.
LEI results for the month were attributed to positive gains in Net
insufficient inventories, stock prices and the construction component of
industrial production while negative contribution came from oil prices.

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NYCE and Select-a-Branch Sign an ATM Deal

ATM network NYCE has signed an agreement with PA-based Select-a-Branch to offer NYCE’s
SUM selective ATM surcharging program access to select terminals in SAB’s growing network of surcharge-free ATMs.
The SUM Program allows cardholders of participating financial
institutions to make surcharge-free ATM
withdrawals at the designated terminals of other program members. The SUM Program’s unique
structure is primarily based on usage. Participating institutions also
may select the ATMs they wish to include in the program, making it a
cost-effective option that allows banks and credit unions to retain
control over their own surcharging revenue. SAB will brand transactions made at these terminals using its
proprietary technology. SUM cardholders will see transaction screens
branded with the program’s logo and messaging. SAB ATMs also feature a
19-inch monitor mounted above the terminal that will run SUM
advertisements when the program’s cardholders use the ATMs.

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INGENICO & EASYCASH

Neuilly Sur Seine-based Ingenico has inked a deal to acquire Germany’s
easycash Beteiligungen for 290 million euros. Last year easycash
generated revenue of 85.7 million euros. Revenue coming from transaction
processing represented 56% of total revenue, while revenue generated by
POS terminal services and loyalty solutions represented 29% and 15% of
total revenue, respectively. easycash has been under the ownership of
Warburg Pincus. easycash is expected to generate by year end pro forma
revenue close to 100 million euros. Ingenico generated pro-forma revenue
of 780 million euros in 2008. The implementation of final agreement is
subject to the approval of German anti trust authority,
Bundeskartellamt, and consultation of Ingenico workers’ council.

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IDENTITA PCI DSS

Identita has completed its third party PCI-DSS audit on its “Display
OTP” products and “Echosystem” Authentication Platform, both of which
now meet the PCI-DSS requirement 8.3. PCI-DSS requirement 8.3 states:
“Incorporate two-factor authentication for remote access to the network
by employees, administrators, and third parties…. Use technologies
such as remote authentication and dial-in service (RADIUS); terminal
access controller access control system (TACACS) with tokens; or VPN
(based on SSL/TLS or IPSEC) with individual certificates.” The security
assessment is mainly to determine whether or not the Identita Display
Card Authentication Platform can be considered a valid two-factor
authentication solution for the purpose of compliance with the PCIDSS
requirement 8.3. The series of checks and tests conducted to determine
the Identita Echosystem Authentication Platform implements the
recommendations set forth by the Open Authentication Group
RFC4226–”HOTP: An HMAC Based One time Password Algorithm,” determining
the Identita’s Authentication Platform is an appropriate implementation
of the algorithm and security requirements set forth by OATH.

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OPUS CARDS

Societe de Transport de Montreal has chosen Oberthur Technologies smart card solutions to supply “Opus” contactless cards for use throughout the Montreal public transport network. This will allow Oberthur Technologies to deliver e-ticketing smart cards over the next four years for use on buses, the subway and commuter trains throughout the area and Quebec City. With this, Oberthur will make available automated fare vending machines or points of sale at which the user can be recharge the smart cards. Fully compliant with the Calypso international e-ticketing standard for smart cards, providing a contact and contactless interface, the cards are made of highly durable “PET-F” plastic.

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ACS to Power Louisiana Purchase Card

Affiliated Computer Services
has been selected by the Louisiana Department of Social Services to
provide electronic benefit transfer services. Under the new six-year agreement, ACS will administer EBT for the
Supplemental Nutrition Assistance Program (SNAP), previously known as
Food Stamps; and Temporary Assistance for Needy Families (TANF).
Recipients will receive benefits on the “Louisiana Purchase Card,” which
can be used at USDA-authorized retailers and ATMs.
ACS’ EBT services for Louisiana include transaction authorization
processing, card management services, delivery and helpdesk, and
disaster services and support for the more than 300,000 households who
rely on the card. Program implementation is expected in summer 2010. ACS processes more
than half of the nation’s child support payments; manages 24 electronic
payment card programs for state and federal clients, disbursing
government payments and benefits; processes nearly 570 million Medicaid
claims each year totaling more than $50 billion in provider payments;
saves state child care programs millions of dollars; services student
loans for more than 11 million borrowers; and facilitates more than 75
million online searches for unclaimed property per year.

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Wells Announces Plans to Adjust Overdraft Fees

Wells Fargo has jumped on the overdraft change bandwagon by altering
some of its practices. The bank will eliminate overdraft fees for
customers when they overdraw their accounts by $5 or less and will
charge no more than four overdraft fees per day. In addition, Wells
Fargo and Wachovia customers will be able to opt out of overdraft
coverage. Wells Fargo noted it also offers ways to link savings, lines
of credit or credit card accounts to a customer’s checking account when
there are not enough funds to cover a transaction. Yesterday, Chase
announced it will eliminate overdrafts for debit cards unless the
customer opts in to overdraft services; modifying the posting order to
recognize debit-card transactions and ATM withdrawals as they occur;
eliminating overdraft fees if a customer’s account is $5 or less
overdrawn and reducing the maximum number of overdraft fees per day to
three from six. (CF Library 9/23/09)

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Less than 10% of Teens Pay-Off Credit Card Debt

A new survey find that 62% of young adults surveyed (ages 14-19) report saving their money to pay for all or part of college or higher education programs, compared to just 40% of adults surveyed (ages 20-59) who saved for higher education during their adolescent years. Also, about 19% of adults surveyed were responsible for paying off their entire credit card balances on their own when they were teens, compared to 7% of young adults surveyed today. The survey released by TD AMERITRADE finds 36% of adults surveyed recalled that they were responsible for all expenses associated with a car or motorcycle when they were teens, compared to 9% of young adults surveyed today.
Nearly 26% of adults surveyed recalled that someone else was responsible for all clothing-related expenses when they were teens, compared to 39% of young adults surveyed today.

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ACT & INSIDE

INSIDE Contactless announced that Didier Serra, GM/EVP of sales for North America, has been reelected by the members of Advanced Card Technologies Canada to serve a second term on the organization’s board of directors. A founding member of INSIDE Contactless, Didier has held several executive positions at INSIDE Contactless, and is currently heading all sales initiatives for North America. With ACT, Serra will work with the other board members to help govern this stakeholder association, which is internationally recognized as a reliable source of information on secure payment, secure identity management and advanced card technologies and applications, and is the authority on the Canadian marketplace.

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