Hypercom Ranked #42 on 2007 FinTech 100

Hypercom Corporation has been named one of the top 50 companies in the just published 2007 FinTech 100 annual ranking of top technology providers to the worldwide financial services industry. Hypercom ranks #42 and is the only provider of card payment terminal solutions and services to be recognized for four consecutive years. The ranking is complied by American Banker and Financial Insights, an IDC Company, a global independent advisory firm. The ranking is based on overall revenues as well as revenues from financial companies, enabling financial institutions to evaluate technology vendors both on their commitment to and penetration of the market.

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RBS & SEEWHY

Retail Business Solutions (RBS) has deployed SeeWhy’s fraud solution
for implementation with its “Retail-J EPOS” to prevent loss to fraud in
retail.
The loss prevention service can be implemented immediately and provides
real time alerts for credit card fraud, refund and till abuse. The latter is
an issue of growing concern citing research that shows US businesses lost
nearly half of all retail fraud to employee theft, accounting for $19.5
billion
in 2006. SeeWhy is going to be working with EEL Consulting for
implementation of the solution, which is being offered to retailers in
custom-
made varieties to fit individual business models. SeeWhy combines profiling
and “Event Stream Processing” technology for closed loop intelligence
applications while EEL Consulting specializes in loss prevention,
security and
risk management.

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VeriFone Intros QX120 & Teams with Opera

VeriFone has rolled-out a contactless payment solution that supports all major contactless payment schemes, including those initiated from mobile phones using the “NFC” standard. The “QX120” can be connected to a stand alone payment device or integrated POS system. It features a 32-bit microprocessor and a high-contrast white backlit LCD that displays the transaction amount and other messages to consumers. VeriFone also announced a partnership with Norway’s Opera Software to develop a payment-enabled version of the “Opera” Web browser. The browser will operate on VeriFone’s “MX800 Series” of consumer-facing systems designed for multi-lane retailers, specialty stores, and POS environments. The integration of “Opera” Web technology with VeriFone’s “MX800” platform will create rich media user experiences.

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TOSHIBA & GLOBALPLATFORM

The Toshiba Corporation has upgraded its GlobalPlatform membership to
“Full Member” status. With this development, Toshiba Corporation will
contribute more to the platform through its participation in all three
GlobalPlatform technical committees. The committees include “the Card”,
“Device” and “Systems” Committees. Furthermore, Toshiba will be
contributing to the platform’s Advisory Council, a forum highlighting
market
trends, will be given increased voting rights for the body and is able to
nominate representatives for the Board of Directors. Toshiba is the 9th
largest manufacturer of electronic products while GlobalPlatform is a
member-driven platform focal on smart card infrastructure development
and is represented around the world.

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Acquirers and ISOs List Their Priorities

A new report has found that 55% of acquirers and ISOs currently rank merchant acquisition as the leading priority, while 64% rank merchant retention as a secondary priority. The research from Aite Group also found that 36% of the acquirers and ISOs ranked developing and deploying new solutions as their third-highest priority. Aite says that in an industry in which pricing is the number-one concern of customers, acquirers and ISOs have to navigate through increasing margin compression and more demanding customers to be able to offer more with less. Acquirers and ISOs have to be creative in devising strategies to win new accounts, as well as retain the ones they have worked so hard to obtain. The report is based on interviews with 11 of the top 70 acquirers and ISOs in the USA.

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PAY-BUY-MOBILE

GSMA’s “Pay-Buy-Mobile” initiative is expanding as 12 mobile operators will run trials of contactless mobile payment services in Australia, France, Ireland, Korea, Malaysia, Norway, The Philippines, Singapore, Taiwan, Turkey and the USA. There are 35 mobile operators with 1.3 billion customers participating in the program. The 12 operators running trials include AT&T, Far EasTone, Orange, KTF,
Maxis, SFR, SingTel, Telstra and Turkcell. GSMA’s initiative is designed to provide a single global approach to enabling contactless payments using a mobile phone. “Pay-Buy-Mobile” supports the use of the “Single Wire Protocol” to link the “Universal Integrated Circuit Card” contained within the mobile handset with the phone’s embedded “Near Field Communications” chip. According to research conducted for GSMA, two-thirds of the 2,574 consumers in 17 countries surveyed said that they expect to begin using their mobile phone to pay at point of sale within two years of the service becoming available.

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VISA Inc. IPO Seeks to Raise $10 Billion

VISA Inc. filed an IPO registration statement with the SEC on Friday that seeks to raise $10 billion, the second largest IPO offering of stock in U.S. history. According to the preliminary prospectus most of the funds to be raised will be used to buy-out some of issuers’ ownership interests and to establish an escrow account to cover contingent litigation liabilities. Last week, VISA Inc. reached a $2.25 billion settlement with American Express over a 2004 antitrust lawsuit that claimed VISA and MasterCard illegally blocked AmEx from the bank-issued card business in the USA. The IPO is set to hit the market during the first quarter of next year. Underwriters include: JPMorgan, Goldman, Sachs, Banc of America Securities, Citi, HSBC, Merrill Lynch, UBS Investment Bank and Wachovia Securities. In October VISA undertook a reorganization in which VISA U.S.A., VISA International, VISA Canada and Inovant became direct or indirect subsidiaries of VISA Inc. VISA Europe did not become a subsidiary of VISA Inc., but rather remained owned by its member financial institutions and entered into a set of contractual arrangements with VISA Inc. in connection with the reorganization.

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CITI INDIA & MCHEK

Citi India has announced its pilot launch with mChek, which has been
designed to allow trade authorizations via mobile phone. This is the 2nd
of such partnerships between the companies, having already launched an
application that allows farmers to receive money for the sale of produce
over
a similar application. The transactions meet security standards and are
further
protected with the requirement of a 3DES encryption user pin. The trade
application currently has more than 250 million subscribers throughout
India,
more than 30 million mutual fund investors and over 5 million retail
investors.
Citi has nearly 200 million customer accounts with operations in over 100
countries while mChek has developed several applications in the mobile
phone
security, banking and payments arenas.

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Consumer Confidence Hits a Two-Year Low

U.S. consumer confidence hit its lowest level in more than two years. According to the “RBC CASH Index,” rising energy and food prices, falling house prices and tightening lending standards all contributed to the downward trend. The “Index” for November stands at 64, down more than 16 points from October’s 80.6 level. The “Index” is composed of four sub-indexes: “RBC Current Conditions Index”; “RBC Expectations Index”; “RBC Investment Index”; and, “RBC Jobs Index”. The “Expectations Index” dropped 30 points, the first time the index hit negative territory since September 2005. The “Current Conditions Index” dropped more than 10 points to 90.3 in November, compared to 101.1 last month. The “Jobs Index” slid to 111.8, down nearly 11 points from October’s 122.5 level due to consumers’ negative view of overall job security coupled with increased personal job loss experience. The “Investment Index” was down nine points to 83.4, compared to 92.5 in October.

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GEMALTO & J/SPEEDY

Gemalto has integrated JCB’s “J/Speedy” contactless payment with its NFC
SIM for mobile contactless payment, a fast-growing feature throughout the
payments industry. Implementing Open Mobile Alliance technology, the
project will allow users application and information access through a
mobile
phone browser. Gemalto provides software and devices for contactless
payment with projections for significant growth, has an annual revenue of
EUR1.7 billion and employs nearly 10,000 worldwide.

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Fargo HDPii Financial Card Printer Debuts

Fargo Electronics has introduced the “HDPii Financial Card Printer”, targeted toward banks, credit unions and retailers for on-site instant issuance of debit, credit and prepaid cards. Customers will not have to wait for days or weeks to receive their card, or be concerned that it may be lost or stolen in the mail. The HDPii can personalize all the static and variable data on a card, thereby allowing banks to dramatically reduce their SKUs of preprinted cards. By decreasing the inventory of preprinted debit, credit and prepaid cards on hand, the chances of theft are reduced. And, by instantly issuing the cards, the risk of cards lost or stolen in the mail is eliminated. Up to 40% of cards delivered by mail are never activated and never used. Fargo Electronics provides secure technologies for identity card issuance systems, including secure card printer/encoders, materials and software. Fargo provides physical, information and transaction security for a wide variety of applications and industries, including financial, retail, government, corporate, national IDs, drivers’ licenses, universities, schools and membership.

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DESJARDINS & SMART CARDS

Desjardins has announced that it has conducted its first smart card
transaction using cards equipped with microchip technology. According
to experts, with this development the company is demonstrating its ability
to provide customers better security protection against fraud with a POS,
PIN-validated solution. In addition to these developments, Desjardins is
participating in NFC trials to verify interactions among cards and devices
further exemplifying the company’s migration to microchip technology.
The company has assets of over $143 billion, employs 40,000 and
provides 5.8 million clients with financial products and services.

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