SCM Microsystems to Focus on NFC

Germany’s SCM Microsystems has announced its shift in focus to the growing contactless technology market with its first major contactless initiative — a MOU with Sony to supply contactless “FeliCa” physical access control terminals in Japan and other international markets. Also emphasizing this shift in focus, SCM launched its first NFC-enabled USB dongle for mobile payment applications in April and intends to develop technology to support NFC in all readers and terminals, including its “FeliCa” products. The latter is to ensure contactless infrastructures will cooperate with NFC-enabled mobile phones in the future. Japan consumers have over 250 million electronic payment cards and FeliCa-enabled mobile phones in circulation today with a large, growing demand for readers and payment terminals interoperable with the “FeliCa” standard.

Details

Microsoft and VitalPay Team

Symmetric Systems has entered into an agreement with Microsoft to develop “VitalPay” business payment solutions. Among the industries to which VitalPay provides client services are retail and specialty retail merchants; mail and telephone order facilities and card-not-present transactions; Internet e-tailers; catalog, travel, and airline industries; government agencies and others. The services of VitalPay are PCI Level 1 compliant and consistent with the industries required security and privacy standards.

Details

Orbitz Relaunches a Co-Brand Visa with Capital One

Capital One and Orbitz have teamed to launch a new card that offers triple travel rewards. The new “Orbitz Visa” with Capital One “No Hassle Rewards” offers one point for every purchase dollar and three points for each dollar spent booking travel on Orbitz.com. Cardholders can redeem points for travel on Orbitz.com, cash, gift cards and name brand merchandise. Orbitz previously co-branded a “Platinum MasterCard” with Juniper Bank in 2002. Under the Juniper card deal, cardholders received two Rewards points for every dollar spent on airline tickets purchased on Orbitz and one point for every dollar spent everywhere else. Launched in June 2001, Orbitz now offers consumers the power to search more than 80,000 suppliers worldwide including airlines, hotels and car rental companies.(CF Library 9/19/01; 5/14/02)

Details

SCM NFC

SCM Microsystems has announced its shift in focus to the growing
contactless technology market with its first major contactless
initiative — a Memorandum of Understanding with Sony Co to supply
contactless “FeliCa” physical access control terminals in Japan and
other international markets. Also emphasizing this shift in focus, SCM
launched its first NFC-enabled USB dongle for mobile payment
applications in April and intends to develop technology to support NFC
in all readers and terminals, including its “FeliCa” products. The
latter is to ensure contactless infrastructures will cooperate with
NFC-enabled mobile phones in the future. Japan consumers have over 250
million electronic payment cards and FeliCa-enabled mobile phones in
circulation today with a large, growing demand for readers and payment
terminals interoperable with the “FeliCa” standard.

Details

KIC and the Clean Team Form KICTeam

ME-based cleaning card supplier KIC Products has teamed with CA-based Clean Team Company to become KICTeam. KICTeam will provide innovative and cost efficient solutions to a diverse marketplace. The company’s product line include “Waffletechnology”-based products for magnetic card readers, bill acceptors, optical readers, smart card readers, thermal printers, ID card printers, ATMs and point of sale thermal credit and check readers. The merger makes KICTeam the world market leader providing more than 400 technical cleaning product solutions and servicing over 1,300 customers worldwide. KICTeam will continue to work from Auburn, Maine and San Diego, Calif., with Auburn serving as its headquarters.

Details

MTS QSA

MTS Allstream has been certified as a “Qualified Security Assessor” by
the PCI Data Security Standards Council, ensuring information security
controls, processes and data confidentiality for secure customer card
information. With this, MTS Allstream can better address overall
security and networking needs because of the PCI DSS industry-wide
standard developed by credit card companies to verify merchants and
service providers who store, process or transmit cardholder data adopt
the protective standards. Additionally, as a “Qualified Security
Assessor,” MTS Allstream is certified to help merchants adhere to PCI
compliance standards with the building and maintaining of a secure
network with appropriate firewall configurations, protecting cardholder
data through encryption, maintaining a vulnerability-management program,
implementing strong access control measures, monitoring networks and
maintaining an information security policy.

Details

NPC Certifies Hypercom’s Optimum Terminals

Hypercom’s new 32-bit multi-application “Optimum T4210” and “T4220” have received “Class A” certification from National Processing Company. The “T4200” product platform has received “PCI PED” approval for secure PIN entry, MasterCard “Payment Terminal Security” approval for IP and wireless transactions, and “EMV Level 1 & 2” certifications for global merchant markets. All terminals also have built-in security features such as optional privacy shields, Triple DES encryption to protect cardholder PINs, and Hypercom’s exclusive RSA-based security infrastructure to prevent the introduction of fraudulent applications or competitor “slamming.” The “PCI PED” approved “PV1310” handheld PIN entry device features a vendor-agnostic architecture that enables easy integration with non-Hypercom card payment terminals.

Details

Western Union Names a New U.S. President

Western Union has hired Stewart Stockdale as EVP and President of the United States and Canada region. Since 2002, Stockdale served as chief marketing officer of Simon Property Group and president of Simon Brand Ventures. He also served as EVP and chief marketing officer of Conseco. David Barnes will now be focused on the corporation’s overall strategy and accelerating Western Union’s growth initiatives. As the chief strategy officer, Barnes will drive M&A activity and strategic alliances for the company. He will also have responsibility for Western Union’s bank strategy. Western Union has 345,000 agent locations in more than 200 countries.

Details

Creditcards.com Pulls the Plug on its IPO

Austin, TX-based Creditcards.com has pulled the plug on its proposed $100 million+ IPO filed in August, citing current public market conditions. Besides a tough IPO market in general, the online service has been facing increasing costs and lower response rates due to the tightening in the U.S. consumer credit markets. Last year, the Company generated $63.3 million in revenues, largely derived from running targeted Google ads, spent $31.1 million for sales and marketing but only produced a $3.5 million profit. In 2006, Creditcards.com posted $42.9 million in revenues, spent $19.8 million for sales and marketing, and produced an $18.4 million profit. According to comScore, the Company attracted an average of approximately 976,000 unique visitors per month to its Website during 2007. The Austin Ventures company was headed by Elisabeth DeMarse, former CEO of Bankrate.

CREDITCARDS.COM
Revenues Profit
2004: $11.5 million $ 5.8 million
2005: $21.9 million $ 9.8 million
2006: $42.9 million $18.4 million
2007: $63.3 million $ 3.5 million
Source: CardData (www.carddata.com)

Details

Heartland Payment Completes ADS Network Deal

Card processor Heartland Payment Systems has completed the acquisition of the Network Services business of Alliance Data Systems Corporation for $77.5 million in cash. Heartland believes the acquisition will be non-dilutive to earnings in 2008 and accretive thereafter. SunTrust Robinson Humphrey served as financial advisor, and Womble Carlyle Sandridge & Rice served as legal advisor for Heartland in connection with this transaction.

Details

Veracity Payment Names Lambert as a New VP

Atlanta-based Veracity Payment Solutions has appointed Robin Ann Lambert, previously with Union Bank, as VP, Community Bank Business Development, West Region. Lambert started her career with First Interstate Bank in 1975, holding various leadership roles and moving up the ranks as Senior Vice President of Credit and Risk Management, until the bank was acquired by Wells Fargo in 1996. Lambert’s successes also include the implementation of private-label programs and the launch of First Interstate Bank’s first Agent Bank programs for issuing and acquiring businesses. After the acquisition, she joined Union Bank of California as Senior Vice President, where she was responsible for business development, portfolio acquisition management and consumer loan services.

Details