Heartland Payment Systems Unveils ePIN It

Heartland Payment Systems payments processors has launched its “ePIN
It!” prepaid calling services program. Offering wireless and
long-distance services, “ePIN It!” can be downloaded at the POS terminal
to provide domestic and international long-distance products. For use on
VeriFone “Vx500” series and Omni “3740”/”3750″ terminals, as well as
Radiant POS systems, the prepaid service allows merchants to expand
product lines, grow profits, reduce inventory and add Convenience with
more than 110 offerings from most major wireless carriers. When
customers purchase minute allotments, PINs are printed on receipts
generated from the POS terminals, which allow access to their minutes by
calling a toll-free number.

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Consumers Favor Bank Sites Over Biller Sites for EBPP

A new study predicts that 83 million households will bank online by 2014. The new report from Javelin Strategy and Research indicates that more consumers are paying bills directly with banks online, not at individual biller websites. The report, “2009 Online Banking and Bill Payment Forecast” found that eight out of 10 online households now conduct online banking. The credit crisis of 2007 along with the banking collapses of 2008 and the resulting recession have spurred consumers to watch spending more closely. Key findings of the forecast include: Six in ten of online households bank online weekly, a 12% increase from 2008; seven in ten of online households pay bills online monthly, up from 64% in 2008; smaller banks are struggling to keep up with bigger banks online; bank fees are the main reason people switch financial providers and consumer demand is building for online personal finance management tools that consolidate money-monitoring capabilities offered by free web sites with those offered by banks and credit unions.

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DATAMONITOR OVUM

Datamonitor Group has integrated its Butler Group, Datamonitor
Technology and Ovum technology businesses under the ‘Ovum’ brand,
effective September 1, 2009. In conjunction, Ovum is launching its two
new research services; “Ovum Technology and Industries Knowledge Center”
and “Ovum Enterprise IT Knowledge Center.” The “Enterprise IT Knowledge
Center” delivers research to support enterprises to create, select and
manage the technology portfolio that delivers improved business value,
bringing together Ovum and Butler Group’s research and leveraging the
business research of the Datamonitor Group. Meanwhile the”Technology and
Industries Knowledge Center” provides research to help ICT suppliers
identify and address new market opportunities and solve the real
business problems of their clients, leveraging the research strengths of
the Datamonitor Technology and Ovum analyst teams. With this, Ovum is
increasing its focus on customer service and support with streamlined
and more efficient ways to ensure that they can brief Ovum when bringing
new products or services to market thanks to improved analyst access.

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VISANET 2Q/09

Companhia Brasileira de Meios de Pagamento, a/k/a VisaNet, reports that revenues jumped 29% in the second quarter to 862.9 million
million reals. Net profits rose 48% to 364.8 million reals, compared to 2Q/08. The Company recently raised 8.4 billion reals through an IPO on the BMFBovespa. However, VisaNet is now being investigated by the Brazilian Justice Ministry Economic Law Department for alledged anti-competitive practices. Reportedly, the BJM SDE is assessing “the exclusive right of VisaNet to accredit businesses to accept cards carrying the Visa logo.” Visa do Brasil Empreendimentos Ltda. and Visa
International Service Association are also included in the investigation. BJM SDE has suspended VisaNet’s exclusivity for now.

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TNB Inks Anoka Hennepin CU for Processing

MN-based Anoka Hennepin Credit Union has sought a TNB card-processing
partnership following its 2008 merger, after which the CU was managing
two separate credit card portfolios processed on different platforms.
The partnership with TNB is meant to help streamline card operations and
position the the $160 million credit union for growth. A TNB evaluation
has yielded recommendations for card products, pricing, and marketing
promotions that will give the credit union the tools to drive growth.
These recommendations include the “MasterCard Family Account” to reach a
larger member base and build a relationship with a member’s entire
family and TNB’s “Design It! Photocard” personalization tool for
members. Anoka Hennepin Credit Union will convert approximately 3,500
card accounts with balances of $4.2 million to TNB to grow the portfolio
15% in new cardholders and balances within two years following the
conversion.

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Level 4 Retailers Familiar & Frustrated with PCI DSS

A poll of 220 Level 4 retailers found 86% of companies are familiar with “PCI DSS” and 88% understand the importance of security. The survey by ControlScan, the National Retail Federation, and the PCI Knowledge Base also found that 72% of small retailers believe the risk their company faces from a data compromise is “low” or “not possible,” However, 67% of previously breached respondents considered the risk from a data compromise to be “high” or “medium.” According to the survey respondents, small retailers first look to their acquirers and then to vendors of POS software, payment equipment and hosting as their “go to” resources for PCI compliance and security information. Additionally, the respondents generally expressed frustration with understanding, implementing and paying for compliance.

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KeyBank Selects Fiserv’s Mobile Money

OH-based KeyBank has chosen Fiserv’s “Mobile Money” to
support the bank’s strategic growth plans for the mobile channel.
“Mobile Money” provides KeyBank with “triple play” technology that enables
consumers to access their accounts using any of the three primary mobile
access modes: a downloaded application, mobile browser, or SMS.
The text messaging capabilities are provided by VeriSign
Messaging and Mobile Media, which successfully delivered more than 224
billion mobile messages through its networks in 2008. M-Com, the technology partner
underlying Mobile Money from Fiserv, tied for first place as a “triple
play” provider of all of the primary technologies used to enable mobile
banking: downloadable applications, mobile browser and SMS (text
messaging).The “Mobile Money” solution
combines banking and payments capabilities, and includes functions such
as balance inquiries, transaction history, account transfers, bill
payments and one and two-way account alerts. Informational services such
as an ATM and branch locator are also included.

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Tokenization and Encryption – The Better Mousetrap

The process of combining tokenization and encryption for securing cardholder data from the card reader through the entire transaction lifecycle has become a reality. The new solution can virtually remove merchants’ POS and card readers from the scope of PCI compliance. Electronic Payment Exchange has become the first payment processor to offer such a true end-to-end solution with the introduction of “BuyerWall.” With the new solution encryption built into the hardware and software at the POS, it protects against potential breaches before card numbers enter into the authorization process as it immediately encodes credit card numbers upon the card swipe. Tokenization then replaces
account numbers with values that are meaningless to hackers and identity thieves. FasTraxPOS, a retail automation company offering POS solutions to more than 1,300 convenience and tobacco-related stores, is one of the first organizations to adopt EPX’s new tokenized end-to-end encryption solution. EPX is a participating organization of the PCI Security Standards Council.

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RIS Ranks Epson POS Peripherals as #1

Epson POS solutions was ranked the number one peripherals provider for
the fourth year in a row in the “Hardware LeaderBoard 2009” by Retail
Information Systems News (RIS) magazine. The Company’s cumulative score
of 50.43 out of 60 was based on Product Features and Functionality;
Price/Value; Performance; Technology Innovation; Service; and Product
Reliability. Surpassing IBM, NCR, and Lexmark, the peripherals category
includes such products as keyboards, scanners, receipt printers,
electronic payment devices, signature capture pads, check imagers,
biometric identification readers, pole units, screens and cash drawers.
CA-based Epson was founded in 1975.

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Expedited Payments Represent a New Revenue Stream

According to a fresh report, expedited payment services may produce a new revenue stream for banks. GA-based Synergistics found one in six households with Internet have used expedited online bill payment services with 37% of users that report having paid a fee to use the service and slightly more than one-third of those who paid a fee find the fees to be unreasonably high or unjustifiable at any level, while more than six in ten are not as adverse. The “Maximizing Online Bill Payment” report found that 40% say the fees are a bit high and something they would pay only in an emergency. One-fifth find them to be an acceptable minor annoyance or reasonable for the service. Synergistics concludes that financial institutions should offer the service not only as a convenience to their customers, but as way to maintain their position as a leader in the payments area and should not give up this potential revenue to billers.

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ACCC Investigates Debt Settlement Business

Americans for Consumer Credit Choice (ACCC) has announced plans to
conduct a public study examining the debt settlement industry. Focusing
on results-oriented data and trade practices, the ACCC study will survey
other industry and interested groups to gage an independent objective
assessment of the consumer benefits provided by debt settlement
companies, such as consumer completion of debt settlement programs;
up-front fees; the quality of settlement officers; and consumer benefit.
These companies focus on negotiating down unsecured consumer debt while
the ACCC membership organization
is comprised of providers of consumer financial products and services
offering consumers free market financial choices.

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