Joyo Bank to Deploy Finger Vein Authentication

Ibaragi-based Joyo Bank is deploying Hitachi’s finger vein authentication system on March 22nd. The new “Joyo IC Ace Card” will be issued to all Joyo customers. Joyo will replace all of its automated teller machines with finger vein authentication system terminals
provided by Hitachi. This is the first system to use finger vein authentication service for banking in the Kanto area.

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Discover Launches a Sig/PIN Debit Product

Discover has decided to enter the signature debit card market and compete head-to-head with VISA and MasterCard. The new “Discover Debit” product is the result of its acquisition of the PULSE ATM/debit network in January 2005 and the ruling in the Department of Justice anti-trust case in October 2004 which permits financial institutions that already issue credit or debit cards from the bankcard associations to issue additional cards from other brands. The “Discover Network” will support two forms of signature debit card programs: the “Discover Debit Card” for individuals and the “Discover Debit Business Card.” “Discover Debit” says it offers issuers increased profitability from lower network expenses; clear, fully disclosed pricing, less complicated billing and straight-forward operating regulations and dispute rules; and a 100% online transaction authorization standard with no floor limits. NetSpend Corp., Elan Financial Services, Central National Bank & Trust Company of Enid (Oklahoma) and Jack Henry & Associates have agreed to support “Discover Debit.”

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Scott+Scott to Lead Diebold Lawsuit

CT-based Scott+Scott will file a motion today to become “Lead Plaintiff” and “Lead Counsel” in the shareholder class action lawsuit of ATM manufacturer Diebold. The complaint alleges that defendants violated provisions of the United States securities laws, issued false and misleading statements that served to conceal the dimensions and scope of internal problems, impacting product quality, strategic planning, forecasting and guidance and culminating in false representations of astonishingly low and incredibly inaccurate restructuring charges for the 2005 fiscal year, which grossly understated the true costs and problems defendants faced to restructure the Company and that when investors learned the truth about the adverse impact on Diebold’s financial performance, the price of Diebold shares plunged 15.5% on unusually high volume, falling from $44.37 per share on September 20, 2005, to $37.47 per share on September 21, 2005.

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Vesta to Establish Euro Operations

Vesta Corporation, a provider of virtual top-up prepaid telecom products
is to establish its European Operations
Center at the IDA Ireland Finnabair Business Park, Dundalk, Co. Louth.
The center will support Vesta’s European mobile telecoms clients, as
well as provide a duplicate service operation for the company’s existing
international business. Supported by IDA Ireland – Ireland’s investment
and development agency – the center will create 350 high quality jobs
over three years. The new Dundalk center will also house an engineering
team; revenue assurance department;
business analysis department; European finance and treasury management;
and an in-house data center providing disaster recovery capability for
Vesta’s international locations.

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Semtek Hires a New CEO

San Diego-based Semtek Innovative Solutions has named Patrick Hazel, formerly CEO of EWI Holdings, as CEO. Hazel brings vast experience in the payment processing and technology industries to Semtek, a developer of solutions for the mobile payments sector. He has also been active in early stage technology ventures, serving as a director of several high growth companies on the West Coast as well as an active advisor to the venture capital and private equity world on issues such as technology commercialization, IP portfolio development, and payment processing opportunities. Semtek Innovative Solutions provides mobile commerce devices and applications, magnetic stripe security solutions, and wireless gateway services to the mobile payments sector.

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Alliance to Acquire ICOM

Alliance Data has reached an agreement to acquire ICOM Information and
Communication Inc., a provider of targeted list, marketing data
and communication solutions for the direct response, consumer packaged
goods and over-the-counter pharmaceutical industries in North
America. These include the AIR MILES Reward Program, Canada’s premiere
coalition loyalty marketing program, Epsilon, a leading provider of
integrated direct marketing solutions and COLLOQUY, a leading provider
of loyalty-marketing publishing, research, educational and consulting
services. ICOM will remain a distinct business within Alliance Data.

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Thales Completes Metro Line Ticketing System

Thales has completed Turin’s first metro “Access
Control and Ticketing System”. The new 13 kilometre line links the
northwest commuter belt of the city, Collegno, with Porta Nuova, a
central station in the heart of Turin. It will be the first system in
Europe in which public transport ticketing has been integrated with car
park ticketing, allowing customers to use one ticket for both. Thales’
system comprises access control equipment with tickets and card readers at
all sites, intrusion
detection systems and a supervision and control center. The system
consists of 183 access control gates, 183 magnetic ticket handling units,
183 contactless card and ticket handling units and 36 automatic ticket
vending machines. Thales is an international electronics and systems
group serving defense, aerospace, security and services markets with
generated revenues of 10.3 billion euros in 2004.

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Ohio Set to Enact New Gift Card Rules

The State of Ohio is ready to enact new gift card rules that requires a two year minimum period before inactivity fees can be assessed. The new law will prohibit dormancy fees, latency fees or administrative fees, that have the effect of reducing the total amount for which the holder of the gift card may redeem the gift card during the two-year initial period. Also, a gift card sold without an expiration date is valid until redeemed or replaced with a new gift card. The new law does not apply to a gift card that is distributed by the issuer as part of a loyalty program; a gift card sold below face value at a volume discount to employers or to nonprofit and charitable organizations for fundraising purposes; a gift card that an employer gives to an employee if use of the gift card is limited to the employer’s business establishment; or a gift card that an employer issues to an employee in recognition of services performed by the employee. Nearly 20 states have enacted some type of gift card regulations.

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Ingrian DataSecure Adds a New ETL Tool

Redwood City, CA-based Ingrian Networks has launched a new “DataSecure” data security tool for encrypting and decrypting large amounts of data typical in large-scale credit card processing environments. The new “ETL” (Extraction, Transformation, Load) utility enables customers to achieve performance levels of over 45,000 encryptions/decryptions per second with a single “DataSecure” appliance and near linear scalability when adding additional appliances (more than 100,000 encryptions/decryptions per second can be achieved with three DataSecure appliances). It also seamlessly integrates with existing ETL processes, regardless of where the sensitive data is ultimately stored and encrypts sensitive data within flat files by reading information in the clear from an input file and writing it encrypted to an output file. Additionally, “ETL” decrypts sensitive data within flat files by reading encrypted information from an input file and writing it in the clear to an output file.

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