VA-based E-Pass Technologies filed a federal lawsuit against 3COM yesterday, alleging patent infringement by 3Com’s ‘Palm Pilot’ over the storage of account numbers such as credit cards. According to the company, 3Com’s popular ‘Palm Pilot’ electronic organizers infringe on its 1994 E-Pass patent for a multifunction, credit card-sized computer that allows users to securely store a multitude of account numbers, PIN codes, access information and other data from multiple credit cards, check cards, identification cards and similar personal documents. 3Com is spinning-off Palm in a $736 million IPO this Thursday.Details
NextCard and MyPoints.com have teamed up to roll-out the ‘MyPoints MasterCard’. Yesterday’s agreement also includes a multi-year alliance for MyPoints.com to be the preferred rewards provider for NextCard and its co-branded credit card partners. The ‘MyPoints MasterCard’, powered by NextCard, will be offered to the six-plus million members of the ‘MyPoints’ loyalty program and is scheduled to be available in the second quarter. The new MasterCard offers one point earned for each dollar spent on the card. Points earned on the card are aggregated with points earned through by filling out surveys, reading and responding to targeted email, visiting Web sites, shopping online, and more.Details
Fair, Isaac revealed Monday the development of a Web-based solution that harnesses the company’s gold standard analytics and decisioning technology to offer instant credit to consumers. ‘LiquidCredit’ instantly evaluates applicant risk; returns suggested credit decisions based on product-matching analytics and the grantor’s strategy; and, for brokers, matches scored applicants to various credit grantors’ lending criteria, presenting applicants with a variety of credit options. The new FI solution offers a Web-based decision engine, credit reporting agency interface, associated transaction management tools, and the ability for businesses to design their own decision criteria and strategies. ‘LiquidCredit’ can also create a common platform for B2B and B2C credit origination. It facilitates seamless interaction between e-marketplaces and e-tailers who initiate credit-driven transactions, and sources of financing like banks, finance and leasing companies. The company plans to have the product generally available beginning May 17.Details
Century Bank announced that it has joined SUM, a selective surcharging program managed by the NYCE Network. As a SUM program member, Century Bank joins forces with other financial institutions who agree to pool designated automated teller machines and allow all other program members’ customers to use them surcharge-free. Surcharges are convenience fees that some financial institutions charge non-customers for ATM use.
When asked why Century joined the SUM Program now, Marshall M. Sloane, Chairman and Founder, elaborated that “we have many customers with ATM cards and although we are currently in the process of expanding our ATM network, our customers need access to their money without a secondary fee being assessed. The Program has proven to be very successful and we wanted to be a part of the success.”
The SUM Program, began as a Massachusetts pilot, and is available to all NYCE Network participants in 15 states and the Commonwealth of Puerto Rico. Currently, there are 283 participating financial institutions with over 1,900 ATMs. This total includes 243 Massachusetts Banks and Credit Unions with 1648 ATMs.
The SUM name and service mark logos were developed to help consumers readily identify participating ATMs. Consumers can also obtain information about participating SUM financial institutions and designated ATM locations by visiting the SUM web site at [www.sum-atm.com].
Century Bank and Trust Company, a subsidiary of Century Bancorp, Inc., is a state chartered, full-service commercial bank. Century Bank operates sixteen full-service branches in the Greater Boston area and offers a full range of Commercial, Consumer, Cash Management and Investment products.
Headquartered in Woodcliff Lake, New Jersey, the NYCE Corporation provides financial institutions and retailers with processing services that support automated teller machines (ATMs), point-of-sale (POS) and electronic benefits transfer (EBT) transactions. In addition, NYCE provides financial institutions with electronic funds transfer processing services that support ATM terminal deployment, debit card issuance, and home banking/bill payment solutions. NYCE’s web site address is [www.nyce.net].
Century Bank is a member of the FDIC and an Equal Opportunity Lender.
Gemplus Corporation and Nextel Communications, Inc. announced a multi-year agreement under which Gemplus will provide smart card-based Subscriber Identity Modules that will enable Nextel to offer international roaming service using dual mode GSM900/iDEN mobile phones.
SIM cards are widely used internationally by mobile phone services to secure access to the communications services, store network information in the phone, and manage personalized subscriber data and applications. Nextel will utilize Gemplus SIM cards to provide its customers with a dual-mode phone that can access iDEN (integrated Digital Enhanced Network) 800 MHz in North and South America and GSM (Global System for Mobile Communications) 900 MHz-based networks that are prevalent in, Europe, Africa, Oceania and Asia.
“International roaming capabilities are a crucial requirement for today’s business travelers seeking greater mobility to operate in the global economy. By working with Gemplus to integrate smart card technology, Nextel plans to begin offering its worldwide service during 2000 with one phone, one number, worldwide,” said Mark Schweitzer, vice president marketing, Nextel Communications.
Since 1988, Gemplus has provided over 250 wireless operators with SIM cards, services and software. Initially specified as part of the GSM international telecommunications standard, SIM technology today is used to customize mobile phones utilizing various telecommunications standards including PCS, satellite, and others.
“This represents a tremendous commitment by a U.S. mobile network services provider to adopt SIM technology and expand its reach to accommodate the needs of international travelers,” said Jean Louis Carrara, director Telecom Marketing for Gemplus Americas. “Smart cards are at the heart of much of the world’s mobile telecommunications services, providing not only secure network access and roaming, but also the ability to provide secure value-added services. New applications are being developed rapidly to utilize SIM cards to enable wireless Internet browsing, mobile commerce and banking applications. We are pleased to have been selected by Nextel Communications to help them benefit from this value-adding technology.”
Gemplus has a record of innovations in the mobile phone market, including products and technologies such as the development environment GemXplore CASE, the remote SIM management platform, GemXplore Suite and Java Card(TM) SIMs.
Nextel Communications Inc., headquartered in Reston, Va. is a leading provider of fully integrated wireless communications and has built the largest guaranteed all-digital wireless network in the United States that covers thousands of communities across the United States. Nextel and Nextel Partners Inc. currently serve 94 of the top 100 U.S. markets. The Nextel National Network offers a fully integrated wireless communications tool with digital cellular, text/numeric paging and Nextel Direct Connect(R) — a digital two-way radio feature. In addition, through Nextel International Inc., Nextel has wireless operations and investments in Canada, Mexico, Argentina, Brazil, the Philippines, Peru, Japan and Shanghai, China. Please visit our web page at [http://www.nextel.com].
Gemplus S.A. ([www.gemplus.com]) is the world’s leading provider of plastic and smart card-based solutions with 37% market share (by units sold, source: Dataquest 1998). Gemplus sells magnetic stripe cards, memory and microprocessor-based smart cards, smart contactless cards, electronic tags and smart objects. The company designs and markets software, development tools and readers. Gemplus also provides consulting, training and personalization services to deliver the industry’s most comprehensive and flexible card-based solutions to its developers, distributors, partners and customers.
With sales of approximately $US800 million in 1999, Gemplus employs more than 5,600 people in 14 manufacturing facilities, 7 R&D centers and more than 40 sales and marketing offices located in more than 30 countries around the world. Founded in 1988, Gemplus has successfully implemented portable and secure smart card-based solutions to simplify applications such as public and wireless communications, financial transactions, loyalty, transportation, education, healthcare, identity, physical access control, pay TV, electronic commerce, Internet security, logical access control and information technology. For more information: [www.gemplus.com].
Baltimore-based Creditrust failed to impress investors yesterday with its delayed fourth quarter earnings report. In heavy trading Creditrust’s stock price fell about $2.00 per share to close at $8 per share. Last week the company said it would release its earnings report and report a favorable material corporate development. The news sent the stock from $7 to $10 per share. In July the stock peaked at $34 per share. For the fourth quarter, net earnings, prior to special charges, were $4.7 million versus net earnings of $6.3 million for the third quarter. Creditrust, a credit card collection firm, incurred three non-recurring special charges in the fourth quarter including $1,300,000 payable to a seller in connection with a reduction in a forward flow; $436,000 for legal and accounting costs associated with our financing activities; and $322,000 for legal and accounting fees related to the Form 8K investigation. In October a former management employee misdirected $500,000 in corporate funds by submitting an unauthorized check request and then seeking to redirect those funds through Creditrust’s collection payment stream. Creditrust also announced Monday it has entered into final negotiations, based upon an agreed upon term sheet, for $55 million in additional secured debt. The company says it has terminated all forward flow agreements or allowed them to expire and does not believe that there are any remaining purchase commitments. Creditrust says it anticipates purchasing opportunistically in the open market as the pricing has been more advantageous recently. For complete 4Q/99 and full-year 1999 financials visit CardData ([www.carddata.com]).
UICI announced that United Credit National Bank (an indirect, wholly owned subsidiary of UICI) had agreed to the issuance of a Consent Order by the U.S. Office of the Comptroller of the Currency. The terms of the Consent Order will govern for the indefinite future the capitalization, funding activities, growth and operations of United Credit National Bank, a special purpose national bank headquartered in Sioux Falls, South Dakota.
The Consent Order requires the Bank within thirty days to submit to the OCC for approval a near term and three year capital plan, the terms of which will demonstrate the ability of the Bank to maintain Tier I capital at levels no less than 10% of risk weighted adjusted assets and 7% of actual adjusted total assets. The capital plan will also set forth the Bank’s plans and projections for the maintenance and sources of adequate capital in future periods.
To immediately supplement the capital of the Bank and in order to maintain combined Tier I and Tier II capital at the Bank at a level in excess of 10% of total risk-weighted assets (as disclosed in the Bank’s December 31, 1999 Call Report as currently filed with the OCC), United CreditServ, Inc. (the Bank’s direct parent and a wholly owned subsidiary of UICI) contributed $10,065,000 in cash to the capital of the Bank on February 25, 2000. The OCC is currently conducting an ongoing examination of the operations and capital adequacy of the Bank, following the previous announcement by UICI in December 1999 of significant losses in the fourth quarter of 1999 attributable to charges to the credit card loan loss reserves at the Bank.
A liquidity and capital assurances agreement, dated May 15, 1998, provides that, upon demand by the Bank, UICI will purchase certificates of deposit issued by the Bank to assure sufficient liquidity to meet the Bank’s funding demands and will contribute capital to the Bank sufficient for the Bank to comply with its stated policy of maintaining Tier I capital at a level equal to at least 10% of total risk-weighted assets and a total risk-based capital ratio of at least 12%. Total risk-based capital includes both Tier I and Tier II capital.
Under the terms of the Consent Order, the Bank is prohibited from accessing the brokered deposit market and from soliciting or accepting deposits over the Internet. The Bank had, as of February 21, 2000, voluntarily suspended soliciting or accepting brokered deposits. As of February 28, 2000, the Bank has $310 million of certificates of deposits outstanding, the majority of which are scheduled to mature over the next 12 months. At February 28, 2000, the Bank held approximately $125 million in cash, cash equivalents and short term U.S. Treasury securities.
The Consent Order requires the Bank, until further notice from the OCC, to cease all activities with American Credit Educators, Inc. (ACE) and American Fair Credit Association, Inc. (AFCA), independent marketing associations through which the Bank has marketed its credit card programs to customers with limited or impaired credit records. The Consent Order further requires the Bank, until further notice from the OCC, to cease all transactions with affiliated parties (including UICI but excluding Specialized Card Services, Inc., the servicer of the Bank’s credit card accounts), and to conduct an immediate review of all agreements with all third parties to assess whether such agreements are on terms fair and reasonable to the Bank. The Bank, in particular, has engaged PricewaterhouseCoopers LLP to independently review the terms of all agreements between the Bank and Specialized Card Services, Inc. (an indirect wholly owned subsidiary of UICI and the servicer of the Bank’s credit card accounts).
The Bank is further prohibited under the terms of the Consent Order from introducing new products or services, without accompanying policies and procedures reviewed and approved by the OCC providing for, among other things, appropriate risk management, internal control, management information and data processing systems. Under the terms of the Consent Order, the Bank is generally prohibited from increasing its assets in the future unless the OCC has approved a capital plan submitted by the Bank and the Bank is in compliance with the capital plan.
Separately, UICI announced that UICI and the Bank had been named as party defendants in separate suits filed in U.S. District Court in Colorado by American Credit Educators, Inc. (ACE) and American Fair Credit Association, Inc. (AFCA), the independent marketing associations through which the Bank formerly marketed its credit card programs. In the suits, ACE and AFCA have alleged, among other things, that UCNB has breached its marketing agreements with ACE and AFCA. ACE and AFCA are each controlled by Phillip A. Gray, the former head of UICI’s credit card operations. Neither UICI nor the Bank has yet answered the complaints. UICI believes that UICI and the Bank have significant counterclaims and meritorious defenses to the allegations, and UICI intends to vigorously pursue the counterclaims and assert those defenses.
UICI, headquartered in Dallas, Texas, is a diversified financial services company offering financial services, health administrative services and insurance through its various subsidiaries and divisions to niche consumer and institutional markets. UICI provides health insurance through its insurance subsidiaries, UGA-Association Field Services and Cornerstone Marketing of America; enrollment, billing and collection claims administration and risk management services for healthcare payors and providers through UICI Administrators; credit cards for individuals with no credit or troubled credit histories through United CreditServ; financial services and products for college, undergraduates and graduate students, including providing federally- guaranteed student loans through the Educational Finance Group; and manages blocks of life insurance and life insurance products to select markets through its OKC Division. UICI also holds a 44% interest in HealthAxis.com, Inc., a leading web-based insurance retailer providing fully integrated, end-to-end, web-enabled solutions for health insurance distribution and administration.Details
Eleven more members have joined Radicchio, the global industry initiative promoting security in wireless e-commerce: AU-SYSTEM, BROKAT Infosystems, CMG Finance, Graphium Danmark, Heyde, Netlife, Oberthur, Omnitel, Secunet, Swisskey and Tantau.
The members will elect the Radicchio Advisory Board at the second members’ meeting planned for 16 March in Munich. In the meantime, interim working groups of members are focusing on key issues, including: marketing of PKI; SIM cards/card technology; registration issues in worldwide PKI; the regulatory and legal environment for digital signatures and PKI; and best practices/showcases.
“With such a strong and diverse membership, Radicchio is already recognised as the mobile industry voice of PKI. Radicchio will definitely be the driving force for common PKI standards that make transactions over a mobile device secure,” said Stefan Engel-Flechsig, Sonera SmartTrust’s contact for Radicchio. “Our members recognise that the industry has to work together to reap the full rewards from the mobile commerce revolution.”
Promoting PKI based security
Launched in September 1999 with Sonera SmartTrust, Gemplus and EDS (Electronic Data Systems) as initial members, and with the support of Ericsson, Radicchio was created to enable a dynamic global market for secure wireless e-commerce. As a consortium of the industry’s leading wireless e-commerce companies, Radicchio will persuade international organisations and government bodies of the importance of supporting security in global mobile e-commerce and of taking into account the growth potential of mobile e-commerce when drafting new legislation.
Worldwide co-operation and leadership
Radicchio is well on its way to becoming the worldwide industry voice and authority for PKI enabled secure wireless e-commerce. The members include certification authorities, mobile operators, systems integrators, device manufacturers, software companies, financial institutions, smart card manufacturers and telecom infrastructure companies.
Radicchio continues to recruit members to support this global initiative. Companies and organisations interested in membership should visit Radicchio’s website at [www.radicchio.org].
“AU-SYSTEM has a long experience of helping clients pioneer secure Internet and mobile solutions for banking and stock-trading. We see the Radicchio initiative as a key enabler for secure wireless Internet solutions and an important step towards unified electronic commerce from all kinds of devices,” said Anders Cedervall, Executive Vice President of AU-SYSTEM.
Anders Cedervall, Executive Vice President
BROKAT Infosystems AG [www.brokat.com]
CMG Finance B.V.
“CMG is amongst others providing Wireless Banking ICT-services in the Financial Arena. The industry initiative Radicchio adds to CMG’s vision that common PKI standards are a necessity to make Wireless Commerce successful,” says Rob Blans, Sector Director CMG Finance. “We are very pleased to become a member of Radicchio and look forward to working with other members towards a secure wireless Internet environment.”
Helen Hosman, Corporate Communications Manager
“Graphium Danmark are looking forward to joining the international forum for securing mobile wireless e-commerce together with the global industry leaders,” said Thomas Knudss0n, Vice President of Graphium Danmark.
Thomas Knudsson, Vice President
“For us, membership of Radicchio enables early access to all future trends in this area,” said Matthias Sohler, Member of the Management Board.
Joachim Fleing, Investor Relations
“We’re proud that Netlife – a global provider of e-business solutions for e-brokerage, Internet payment and mobile commerce – can count itself among the selected “initial members” of Radicchio,” said Claus Muller, CEO and Chairman of Netlife AG. “With our solutions for mobile handsets, we’ll make a decisive contribution to wireless e-commerce and to the success of Radicchio”.
Andrea von Buchholtz, Public Relations Manager
“Oberthur is strongly committed to open standards and believes Radicchio is essential to the advancement and global acceptance of wireless e-commerce,” said Product Manager for Wireless Applications Guido Mangiagalli. “Along with other Radicchio members, we look forward to developing and maintaining the highest e-commerce standards and real interoperability to ensure the most universal and secure environment,”
Guido Mangiagalli, Wireless Applications Product Manager
Omnitel Pronto Italia S.p.A.
“The GSM phone has become part of our everyday life, particularly in Italy, and we are proud to be part of this change. Omnitel’s results are achieved by giving the highest possible level of attention to our customer’s needs.” said Valerio Zingarelli, Chief Technical Officer. “The incredible success of GSM in Italy is driving Omnitel towards further enhancing its services, with mobile phones playing a fundamental role in accessing e-services (such as stock trading, ticketing and mobile banking). Security is a critical issue in developing these services. Omnitel believes that the Radicchio initiative is an opportunity for the industry to accelerate the issue of European standards and to create interoperable trusted PKI infrastructures.”
Franco Angelini, Manager of Value Added Services of Network Department
“Electronic business needs support for strong authentication and privacy. This is even more true for wireless commerce. Security infrastructures are the ideal candidate to establish the trust required by consumers, suppliers and service providers” says Michael Gehrke, Member of the Board of Management Sales at Secunet, “As the market leader for security services in Germany committed to vendor neutral consultancy and customized security solutions, we are looking forward to participating in the Radicchio initiative promoting these ideas.”
Matthias Besch, Manager E-Commerce
“We at Swisskey are convinced that Radicchio is the organization to drive wireless secure applications with digital certificates. We see traditional smartcards as a good technical solution to handle digital certificates but the lack of PC integration will make the deployment very slow and expensive. Mobile phones represent the perfect alternative to avoid this bottle neck and will soon become the real personal security device enabling safe and successful e-business.”,” said Christian Graber CEO of Swisskey.
Christian Graber, CEO
“The unprecedented volume of wireless transactions will define new requirements for the secure transmission of data between users and enterprises. TANTAU’s Wireless Internet Platform offers this security and enables an enterprise to take full advantage of high volume transactions without sacrificing scalability or a direct link to the customer,” said John Sims, president and CEO of TANTAU Software, Inc. “TANTAU has joined Radicchio because we are committed to providing vital security technology to enterprises for high-volume m-commerce applications.”
John Sims, President and CEO
724 Solutions Across Wireless AB Baltimore Technologies Certicom CYLINK Corporation Diversinet Corp. EDS Entrust Technologies Ericsson Gemplus Geoworks Corporation Giesecke & Devrient Gray Cell Inc. iD2 Technologies Infineon Technologies InterClear Service
Ltd Lucent Technologies MasterCard International Minick AG – part of the Distefora information movement Mitsui & Co., Ltd mobile solutions AG Mobile Telephone Networks – MTN NTT DATA Corporation Redknee.com Inc. Saraide Schlumberger Setec Siemens AG Sonera SmartTrust Synamic Limited TC TrustCenter Texas Instruments VeriSign, Inc. Virgin Mobile Visa International Vodafone AirTouch
Automotive aftermarket retail and service chain, Pep Boys, has launched a private label credit card with GE Card Services. Under terms of the GE deal, Pep Boys will join the ‘CarCareOne’ network which will expand its cardholder base by hundreds of thousands, and increases card acceptance from 662 locations to more than 5,000 nationwide, ‘CarCareOne’ network participants. Pep Boys is also offering 10% off a customer’s first charge when customers apply for and use the card, now through March 31. The card features 90-days same-as-cash on all purchases over $150 with a minimum monthly payment required; 25 day interest free grace period on all purchases under $150; and emergency roadside assistance services that covers jump starts, towing (up to 25 miles), tire change (with an inflated spare), fluid replacement, and lock-out service. The company will heavily promote application and use of the card at its stores through traditional marketing and sales promotion techniques, plus a five-week employee incentive program that rewards employees every time they process 10 approved applications.Details
RSA Security Inc. announced that Signio, Inc., a leading provider of secure, scalable, Internet payment services, has licensed RSA BSAFE Crypto-C and RSA BSAFE SSL-C software for its Payflow Pro secure payment processing services. RSA Security’s technology is embedded across the Payflow platform in order to encrypt all of the data that is processed from any merchant site through Signio’s service, providing businesses with an added layer of security and authenticity in processing e-commerce transactions.
By licensing RSA BSAFE Crypto-C and RSA BSAFE SSL-C software, Signio offers merchants a robust, seamless payment processing solution to meet their online transaction needs. Signio’s Payflow Pro solution is designed to give merchants a cost-effective Internet payment option that includes consolidated payment services for credit cards, debit cards and Internet checks for a flat monthly fee. Automatic clearinghouse transactions are also available. Unlike other HTTP based payment solutions, Signio maintains the data during the entire process to help mitigate risks and promote trouble free transactions.
“RSA Security technology is a key enabling technology for our Payflow Pro solution as e-commerce retailers have come to rely on us for our security, performance and scalability,” said Philippe Courtot, CEO and chairman of Signio, Inc. “We are pleased to be working with RSA Security, the leader in encryption technologies, to provide our merchants added assurance that their online transactions are protected by the highest level of security.”
“We are pleased to be working with Signio to provide the underlying security for online payment processing,” said Scott Schnell, senior vice president of marketing at RSA Security. “There is no greater benefit to merchants than having trust in knowing that all transactions conducted online are protected and secure. The strength of our combined solution is unmatched in the industry and can help e-commerce continue to grow at a record pace.”
About RSA BSAFE Crypto-C and RSA BSAFE SSL-C
RSA BSAFE Crypto-C software is one of the world’s best-selling cryptography engines and provides software developers with multiple algorithms and modules for adding encryption and authentication features to applications. RSA BSAFE Crypto-C software includes modules for popular security encryption techniques, such as RSA(TM), DES, RC2(R), RC4(R), RC5(TM) and Elliptic Curve Cryptography (ECC), and is also designed to support digital signatures and certificates.
The RSA BSAFE SSL-C product gives developers everywhere a comprehensive set of fully supported security components for building SSL v2 and v3 compliant applications. RSA BSAFE SSL-C allows developers to market and deploy these applications with trusted RSA strong encryption outside the U.S.
Signio, Inc. delivers a highly scalable and reliable Internet payment platform to help businesses profit from the rapidly expanding e-commerce market. With its revolutionary flat-fee monthly pricing model and growing menu of services, Signio brings affordability and convenience to the process of selling online. Signio provides seamless connectivity across the Internet, from e-commerce applications to all major back-end payment processors and quickly enables companies to authorize, process, and manage multiple payment types (including credit cards and electronic checks), multi-currency options and different payment schemes. Signio is headquartered in Redwood Shores, CA. Signio announced on December 20, 1999, that it will be acquired by VeriSign, Inc., the leading provider of Internet trust services. For more information about Signio, visit http://www.signio.com.
About RSA Security Inc.
RSA Security Inc., The Most Trusted Name in e-Security(TM), helps organizations build secure, trusted foundations for e-business through its RSA SecurID(R) two-factor authentication, RSA BSAFE(R) encryption and RSA Keon(TM) public key management systems. With nearly a half billion RSA BSAFE-enabled applications in use worldwide, more than six million RSA SecurID users and almost 20 years of industry experience, RSA Security has the proven leadership and innovative technology to address the changing security needs of e-business and bring trust to the new, online economy. RSA Security can be reached at http://www.rsasecurity.com.Details
ConSyGen announced an agreement with Cardservice International to market ConSyGen’s counterfeit detection device to Cardservice’s new and existing merchants. The “Counterfeit Cop” is able to detect counterfeit identification documents, credit cards, currency, traveler’s checks and other types of items used for monetary exchange, giving merchants an added method of protection against fraud. Cardservice International will utilize the sales expertise of its DS-MAX offices to present this product to businesses along with its other transaction processing equipment and services.
The Counterfeit Cop is a strong adjunct to Cardservice International’s credit and ATM/debit card processing, check guarantee, purchasing card and electronic commerce services. Cardservice will order a minimum of 20,000 Counterfeit Cop units, which will be offered to the company’s merchant base of more than 170,000. The product will retail to merchants for $199.
“The benefit of the Counterfeit Cop to merchants is twofold: It is a great value because it is so inexpensive, and it is an excellent way to reduce the risk of fraud at the point of sale,” said John Burtzloff, senior vice president of Cardservice International’s Sales Group.
Jason Genet, ConSyGen’s chief operating officer expressed excitement about the agreement and stated “Cardservice International represents a powerful sales channel. We are very enthusiastic about the partnership.”
About Cardservice International: Cardservice International, Inc., is a global leader in providing real-time secure credit card transactions to merchants. Cardservice offers merchants a cost-effective service tailored to their businesses, enabling them to provide credit card processing over the Internet as well as to the traditional marketplace. The company’s LinkPoint Secure Payment Gateway(SM) utilizes state-of-the-art Secure Sockets Layer technology and is easily scalable to any size business. The gateway is designed to communicate in real time with a business’ core data-processing system to allow online transactions to be posted immediately. The gateway also delivers a full range of capabilities, including sales, returns, authorizations, online check processing and comprehensive real-time reports for easy Web management.
More than 170,000 merchants have contracted with Cardservice International. Of those, 50,000 are actively using Cardservice and/or the LinkPoint Secure Payment Gateway as their Internet solution. For more information about Cardservice International, go to cardservice.com.
Cardservice International, Inc We enable merchants to accept credit card payments over the Internet.
ConSyGen’s business is customer-driven, technology-influenced and service-oriented, coupled with world-class software development. In order to achieve the core company goals, various business units have the responsibility for developing cohesive missions, quantifiable objectives and comprehensive strategies. These business units include E-Commerce, Knowledge Mining, Internet Services, and Business Products.Details
Secured and sub-prime VISA specialist, First National Bank in Brookings, SD, has entered into a card issuing agreement with Carlsbad, CA-based Shanecy, CASA and CanadaFirst. Under the agreement FNB Brookings will serve as the VISA licensed bank and will be paid a monthly fee by CASA, an Internet Service Provider, for the issuance of each card. CASA’s sister company, Shanecy, will administer the card for CASA. CASA will retain all of the recurring revenue from the card, including all fees, finance charges or other income. CASA says it intends to offer the VISA card as part of a package to provide ISP service to moderate income households. CASA will pre-bill the ISP service charges to the card. CanadaFirst is owned by Thesseus, a major shareholder of Shanecy, and primarily focuses on VISA accounts. Shanecy is in the process of changing its name to Inc.ubator Capital and specializes in marketing financial products to the sub-prime market.Details