Wednesday, September 9, 2009

67% of French Organizations Hit by One or More Data Breaches



Press Release: 67% of French Organizations Hit by One or More Data Breach Incidents within Last Twelve Months





Research from Ponemon Institute Reveals that only 9 Percent of Respondents have an Overall Encryption Plan or Strategy Applied Consistently across the Enterprise


Paris and Menlo Park, CA/9 September 2009 – (PIN Payments Blog)  PGP Corporation, a global leader in enterprise data protection, has announced the results of its inaugural annual study by The Ponemon Institute, identifying the steps French organizations are taking in order to safeguard their confidential data. The 2009 Annual Study: France Enterprise Encryption Trends study, which polled 414 IT security professionals at enterprises and public sector organisations, found that 67 percent of French organizations have been hit by at least one data breach incident within the last year, with 18 percent having been hit by more than five incidents.



A massive 92 percent of the data breaches were never disclosed as there was no legal or regulatory requirement to do so.



Despite the large number of data breach incidents, 71 percent responded that data protection was a ‘very important’ or ‘important’ part of their risk management strategy, with protecting sensitive or confidential information in motion (transfer) or at rest (storage) their top priority.



“It is very encouraging to see that 71 percent of respondents view data protection as a critical part of their overall risk management plan” said Dr Larry Ponemon, Chairman and founder of The Ponemon Institute. “However, the low percentage of French organisations having an overall encryption strategy in place or using a platform approach to encryption suggests that there are still considerable improvements to be made. The focus for 2010 needs to be on applying a strategic approach to data security across the enterprise.”



The following provides an overview of the key findings of the 2009 France Encryption Trends report:

  • Only 9 percent of organizations have an overall encryption plan or strategy that is applied consistently across the entire enterprise. Forty-five percent have no encryption plan or strategy whatsoever while the remaining 46 percent adjust their encryption plan to fit different applications and data types, or use encryption for certain types of sensitive/confidential information such as social security numbers or credit card accounts.

  • Encryption is primarily used to comply with privacy or data security regulations (65 percent) or to limit the brand and reputation damage linked to data breaches (43 percent). With regard to the regulations and regulatory bodies most influential in organisations’ decision to implement encryption, the French Data Protection Commission and French National Privacy Law come out on top with 66 percent and 62 percent respectively. International regulations such as Sarbanes Oxley have a very minor impact (4 percent).

  • Eleven percent of organizations use a platform approach to managing encryption solutions across the enterprise. Eight-two percent of these organisations believe the encryption platform increases the effectiveness and efficiency of their IT security programme. Reduced operational costs, consistent policy enforcement across applications and integration with third-party encryption applications were specifically listed as the primary benefits.

  • Fifty-six percent of respondents use encryption technology at some level and the remaining 44 percent are in the process of introducing it. Encryption is most widely used to protect data on databases, VPNs and file servers. Mainframe and USB flash drive encryption are the least deployed applications.

  • Seventy-one percent of organisations have a fully executed or just launched implementation of data archive and e-discovery systems programme. The figure is just slightly lower for the implementation of network-based data leak detection and prevention technologies (70 percent). More than half of respondents (58 percent) have just launched or fully executed an endpoint device control technology.

  • Sixty-seven percent of respondents revealed that they had been hit by at least one data breach in the past 12 months. Of the companies that experienced 2 to 5 or more than 5 data breach incidents, none of them had implemented a company-wide strategy governing the use of data encryption technologies.

  • A majority of respondents (58 percent) believe the ability to install a management infrastructure once, and then add additional encryption applications as needed is ‘very important’ or ‘important’. Other important features include the automation of key encryption management activities (55 percent) and enforcement of encryption policy across all applications.

  • Encryption solutions are seen as a security priority for 39 percent of respondents. 29 percent also indicate that key management for encryption solutions is earmarked amongst the security initiatives in the current budget and accounts for just over 21 percent of overall spending on encryption.

  • Forty-five percent of respondents consider loss or theft of confidential or sensitive data one of the major security threats of the next 12 to 24 months. Despite this, 68 percent do not encrypt sensitive or confidential information on mobile data-bearing devices such as PDAs and smartphones, only 4 percent use encryption on USB flash keys and 47 percent are ‘unsure’ or ‘not confident’ about their ability to protect confidential or sensitive information in motion.

“The Ponemon data demonstrates that compliance and fear of reputational or brand damage are driving French organizations to prioritize data protection,” commented Phillip Dunkelberger, president and CEO of PGP Corporation. “Encryption solutions, when coherently and consistently applied across the enterprise to confidential and sensitive information, can protect data at rest, in motion and in use.”





For more information or to receive a complete copy of this study, visit: www.encryptionreports.com


About The Ponemon Institute


The Ponemon Institute is dedicated to advancing responsible information and privacy management practices in business and government. To achieve this objective, the Institute conducts independent research, educates leaders from the private and public sectors and verifies the privacy and data protection practices of organisations in a variety of industries.



About PGP Corporation


PGP Corporation is a global leader in email and data encryption software for enterprise data protection. Based on a unified key management and policy infrastructure, the PGP® Encryption Platform offers the broadest set of integrated applications for enterprise data security. PGP® platform-enabled applications allow organisations to meet current needs and expand as security requirements evolve for email, laptops, desktops, instant messaging, smartphones, network storage, file transfers, automated processes, and backups.



PGP® solutions are used by more than 100,000 enterprises, businesses, and governments worldwide, including 95 percent of the Fortune 100, 75 percent of the Fortune Global 100, 87 percent of the German DAX Index, and 51 percent of the UK FTSE 100 Index. As a result, PGP Corporation has earned a global reputation for innovative, standards-based, and trusted solutions. PGP solutions help protect confidential information, secure customer data, achieve regulatory and audit compliance, and safeguard companies’ brands and reputations. Contact PGP Corporation at www.pgp.com



Media & Analyst Contacts for PGP Corporation:


Carol Pender/Alexandra Radius

Johnson King

+33 (0)1 53 16 11 11

carolp@johnsonking.fr

alexandrar@johnsonking.fr



North America

Tom Rice

Merritt Group

+1 703 856 2218

rice@merrittgrp.com



United Kingdom

Jacqui Depares / Richard Scarlett

Johnson King

+44 (0) 20 7401 7968

pgpteam@johnsonking.co.uk



Germany

Ingrid Daschner

Johnson King

+49 (0) 89 8940 8511

ingridd@johnsonking.de





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The ROI of Small Business Mobile: New Report from Aite Group















A New Report From Aite Group
The ROI of Small-Business Mobile




Small-business mobile banking promises to be an important revenue driver, with one-third of U.S. small businesses willing to pay for the service.  Editor's Note:  73% are NOT willing to pay for a mobile banking service according to the graphic depiction below:



Boston, MA, September 9, 2009 –  (PIN Payments Blog) A new report from Aite Group, LLC analyzes the types of mobile banking transactions small businesses are most willing to adopt, and how that willingness varies by business size. Based primarily on the results of a July 2009 survey of 283 U.S. small businesses (defined as any business generating less than US$10 million in annual revenues), the report also points out challenges, such as misperceptions about mobile security, that banks will have to overcome to ensure a successful deployment. Finally, the report examines small-business willingness to pay for mobile banking/transaction service, expected adoption rates and estimated deployment costs and potential revenues for banks seeking to calculate return on investment (ROI).
Many institutions have deployed mobile banking services as a must-have to "keep up with the Joneses." As a consequence, retail mobile banking services have become commoditized, compressing vendor revenue opportunities.



Mobile small-business banking may reverse this trend, allowing banks to re-invest in the mobile channel and open up tightly controlled budgets. To date, banks' failure to offer mobile banking services to small-business customers has not only resulted in lost potential revenues, but also missed opportunities to deepen relationships and achieve greater cross-selling success with this important customer segment. More than one-third of U.S. small businesses would be willing to consider using mobile banking if it were offered by their primary institution, and 27% would even be willing to pay for the service.

"Most banks recognize the additional convenience they can offer to customers by proffering mobile banking capabilities," says Christine Barry, research director with Aite Group and co-author of this report. "Despite this, many U.S. banks have been slow to roll out mobile offerings, especially to small-business customers."


Nick Holland
, senior analyst with Aite Group and co-author of this report, adds, "Small businesses are looking for a host of extra functionalities above and beyond the requirements of vanilla mobile banking, such as wire approvals and positive pay. Banks will be looking to monetize small-business mobile banking, and an offering that does not justify end-users paying for the service is unlikely to receive implementation."


This 24-page Impact Note contains 15 figures. Clients of Aite Group's Wholesale Banking service can download the report by clicking on the icon to the right.


Related Aite Group Research:


To purchase this report or

for additional information,

please contact:

Aite Group Sales

Tel: +1.617.338.6050

sales@aitegroup.com
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Wells Fargo ExpressSend Remittance Now Online

Wells Fargo ExpressSend Remittance Service Now Available Online

Making it possible for customers to initiate remittance transactions 24-hours a day


SAN FRANCISCO — September 9, 2009 (PIN Payments Blog)



Wells Fargo & Company (NYSE: WFC) has expanded its ExpressSend remittance service to the online channel. Wells Fargo customers are now able to send an ExpressSend remittance transaction through WellsFargo.com – making it possible for customers to initiate remittance transactions 24-hours a day, 7-days a week.



Wells Fargo offers international remittance products to the top seven countries from the U.S. – Mexico, El Salvador, Guatemala, India, the Philippines, Vietnam, and China. According to Javelin Strategy & Research, 77 percent of online Asians and Hispanics actively bank online.



“Many of our remittance customers are online banking customers, and prefer the flexibility and convenience of conducting their financial transactions at WellsFargo.com,” said Daniel Ayala, head of Wells Fargo Global Remittance Services. “This new service helps fill that strong customer desire for anytime, anywhere banking.”



ExpressSend Online Features

  • Among top banking institutions with proprietary remittances services, Wells Fargo offers one of the largest country distribution for account deposit and cash pick up of remittances in overseas locations.

  • Wells Fargo ExpresssSend includes e-mail notification and a detailed “Alert” in their online session.

  • Customers will be able to see all of their valid, open ExpressSend Service agreements and up to 18 months of remittance transaction history.

ExpressSend Service





Wells Fargo remittance products are economical, convenient and dependable. Customers can send money directly to their beneficiary for one low transfer fee. Customers may also qualify for fee discounts based on their account relationship with Wells Fargo.



“Wells Fargo’s remittance products are offered as value-added products to help us build relationships with our customers,” said Ayala. “Wells Fargo is focused more on building relationships, and less on transaction fees ─ like some of the more traditional wire transfer services.”



Wells Fargo ExpressSend customers can send funds to their beneficiaries in most countries through their choice of four options – account to account, account to cash, cash to cash, or cash to account.



Wells Fargo provides multiple channels for transferring money, including by phone (800-556-0605 or 1-800-TO-WELLS), in store and online. “Customers can rest assured that their experience will be consistent among all channels – including In-Store, Phone Bank and Online,” added Ayala.



About Wells Fargo

Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores and 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.


Contacts



Wells Fargo & Company

Media

Lisa Westermann, 415-222-6236

Lisa.b.westermann@wellsfargo.com


More on ExpressSend:



Daniel AyalaDaniel Ayala, SVP Global Remittance Services, Wells Fargo Bank N.A.



Daniel Ayala is senior vice president and business unit manager for Wells Fargo's Global Remittance Services group.



He manages product development, product management, operations and customer service for Wells Fargo's consumer remittance service activities. Ayala and his team manage the Wells Fargo ExpressSend service and other products focused on consumer remittances to China, India, Vietnam, the Philippines, Mexico, Guatemala, and El Salvador.



Ayala is a global payments systems expert with more than 16 years of related consumer and wholesale banking experience.  Previously, he has been responsible for corporate and financial institutions treasury management activities focused on product management, marketing and sales management for Citibank, JP Morgan Chase and Bank of America.



Over the past six years, Ayala has emerged as a renowned consumer remittances expert and has been widely recognized as a key industry leader by regulators, the media and academia.



He is a founding senior leader for Wells Fargo's Latino team member resource group "Amigos".  He has represented various lines of business in the Corporate Diversity Council. Ayala is an active member of the Tomas Rivera Policy Institute (TRPI) Board of Trustees - a freestanding, nonprofit policy research organization that helps shape public policy.







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Web Sales Surge, Same Store Sales Decline at Kohls



The mass merchandise retailer (No. 50 on Internet Retailer 500 List) reported e-commerce revenue of $88 million in the second quarter, one-third higher than the $66 million in the same quarter a year ago. It was the second quarter in a row of 33% growth in web sales. The web accounted for 2.3% of sales, compared with 1.8% in Q2 last year.

MagTek Announces New Chief Security Officer (CSO)



Seal Beach, Calif. (September, 2009)— MagTek Inc., a global leader in secure financial transaction technology, today announced the hire of veteran security expert Tom Patterson as chief security officer (CSO). Tom will work with existing and future clients in the financial industry to protect against multi-billion dollar credit card fraud.



Tom brings over 30 years of security and technology industry experience to the CSO role, providing a wealth of knowledge and experience on information security, data privacy and digital technologies. Tom started his career in the intelligence community, and later designed and built industry-leading security products. He served as IBM’s chief strategist for eCommerce and was the lead security partner at Deloitte for Europe, the Middle East and Africa. Tom also brings Federal experience in the security space, advising the FBI and the National Counter-Intelligence Executive (NCIX) on countering organized crime and foreign intelligence service efforts in cybercrime.



“Tom’s background and experience are a great fit for MagTek, enabling us to combine his leadership in security with our leadership in secure transaction technology,” said Mimi Hart, CEO of MagTek Inc. “In today’s economy, consumers, retailers and financial institutions are more vulnerable to fraud attacks than ever before. Tom will be instrumental in working with the government and our customers to help defend financial systems from ongoing cyber threats.”



MagTek’s MagneSafe technology is the company’s most recent security innovation, allowing any bank, processor or merchant to detect and reject any fraudulent credit or debit card. This breakthrough technology not only encrypts card data at the source, but adds true card authentication by reading each card’s unique magnetic “fingerprint” to verify that it not an illegal copy. Thanks to this layered protection, MagneSafe is now being successfully rolled out to financial institutions worldwide.



“MagTek is a proven leader in financial security technology, delivering products that have protected tens of billions of financial transactions over the last three decades,” said Tom Patterson, MagTek’s chief security officer. “By working from within the financial community as we do, collectively we can now wipe out credit and debit card fraud from skimmed or stolen credit card information.”



Tom is a leading public speaker and frequently appears as an expert discussing security and technology topics in the nation’s top media outlets including CNN, CNBC, CBS and NBC News. He is the author of Mapping Security (Addison-Wesley) and is the founder of the National Security Grid, a non-profit group that provides the ‘critical million’ small and mid-sized U.S. companies with critical links to Federal security, intelligence and counter-intelligence capabilities.



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44% of Corporate Clients Would Switch Banks for Better Services

Pegasystems and Finextra survey finds more than 60% of banks identify lack of
business agility, IT resources and technologies as the biggest obstacles to
delivering better customer service


CAMBRIDGE, Mass.-- PIN Payments Blog

Pegasystems Inc. (NASDAQ: PEGA), the leader in business process management, and
Finextra, the respected information source for the financial technology
community, have found that 63% of banks recognize that delivering Electronic
Bank Account Management (EBAM) services is a great opportunity to win new
clients and better serve existing ones. However, the recent survey which the
organizations conducted also revealed that due to a lack of agility in bank IT
departments, over 45% of them believe that it will take more than a year to
undertake the necessary process and system reengineering to enable it.

The research results outline the key challenges both banks and corporate clients
face in the areas of account opening and management. Both corporations and banks
still utilize very manual and paper-based processes, creating an inefficient,
error-prone environment. SWIFT, the Society for Worldwide Interbank Financial
Telecommunication, and a small group of leading banks, corporations and IT
vendors, have been working to help address the problem through the development
of electronic bank account management standards.

"Through our work on the EBAM steering committee, and our long history in
providing BPM capabilities to the Corporate Banking community, we understand the
frustration of banks and corporates who struggle with the manual and cumbersome
process of opening, closing and maintaining bank accounts," said Adi Reske,
Senior Product Marketing Manager for Financial Services at Pegasystems. "On one
hand, corporates need a better handle on their accounts and a standard way to
communicate with their banks in this area. On the other, banks are finding it
hard to respond quickly to initiatives like EBAM, due to lack of agility and IT
resources."

The survey also found that more than 40% of corporate clients are willing to
move some of their business to other banks for better customer service
, and 15%
expect all of their bank providers to offer EBAM services in the short term and
are adding it to all of their new RFPs.

"With the right technology to deliver business processes and rules, solutions
like EBAM, or even bigger solutions around on-boarding, shouldn`t take more than
three to six months to implement," Reske added.

"The survey results confirm the preliminary findings we collected in late 2007,
which triggered the launch of the EBAM project at SWIFT, which was based on
requests from members of our community," said Richard Delvaux, Senior Corporate
Market Manager at SWIFT, in charge of the project. "Although the topic is not
new, it remains very high on everybody`s agenda. Best evidence is the tremendous
support our EBAM working group has received from the community of banks and
corporates, enabling us to move quickly to deliver the first EBAM XML standard
messages in less than one year. And this is just a start; immediate next steps
to collect all expected benefits will include adoption and integration, on bank
and corporate sides. Therefore, the role of vendors is critical. This is why it
was key for us to involve them in our project in its early stages."

For a copy of the report, please visit http://www.pega.com/link/EBAMreport.

About Finextra

Finextra Research is the leading newswire and online community for the global
financial technology industry, with 3 million page views and 110,000 unique
visitors per month. More than 26,000 financial technology professionals
worldwide receive our free daily and weekly e-mail newsletters. Finextra
additionally operates its own conferences and exhibitions on a range of topics
under the Finexpo brand, and collaborates with the Euro Banking Association to
produce the annual pan- European payments conference EBAday. Finextra is also
the official online news vendor for Swift`s annual financial technology
conference Sibos. Finextra additionally hosts an online professional networking
and blogging service for the global financial technology industry -
www.finextra.com/community.

About Pegasystems
Pegasystems (NASDAQ: PEGA), the leader in Business Process Management, provides
software to drive revenue growth, productivity and agility for the world's most
sophisticated organizations. Customers use our award-winning SmartBPM® suite to
improve customer service, reach new markets and boost operational effectiveness.

Our patented SmartBPM technology makes enterprise applications easy to build and
change by directly capturing business objectives and eliminating manual
programming. SmartBPM unifies business rules and processes into composite
applications that leverage existing systems -- empowering businesspeople and IT
staff to Build for Change®, deliver value quickly and outperform their
competitors.

Pegasystems` suite is complemented by best-practice frameworks designed for
leaders in financial services, insurance, healthcare, government, life sciences,
communications, manufacturing and other industries.

Headquartered in Cambridge, MA, Pegasystems has offices in North America, Europe
and Asia Pacific. Visit us at www.pega.com.

All trademarks are the property of their respective owners.

Pegasystems Inc.
Brian Callahan, 617-866-6364
brian.callahan@pega.com
or
PAN Communications
Erica Burns, 978-474-1900
eburns@pancomm.com
Twitter: @Pegasystems

2009 World Payments Report

The 5th annual World Payments Report 2009

World Payments Report 2009

Non-cash payments transactions grow to 250bn and global transaction services remain significant contributor to revenue reveals the 5th annual World Payments Report from Capgemini, RBS and Efma.

Payments Innovation in Asia

Excerpt from the World Payments Report 2009



  • Press Release: Non-cash payments transactions grow to 250bn; global transaction services remain significant contributor to revenue and SEPA progresses despite weak market conditions

  • Spotlight on payments innovation in Asia: Exploring the use of emerging payment methods like m-payments, contactless payments, e-payments and biometric authentication


As a recurring source of revenue for Banks, Payments and other transaction services (cash management, trade finance, cards issuing and acquiring and securities services) are important to banks’ economics and customer relationships. Particularly in light of weak economic conditions, Payments can act as excellent source of opportunity for banks.

The World Payments Report 2009 looks at the trends in global payments volumes, provides an update on the progress of SEPA and PSD in light of the financial crisis and last year’s intensified regulatory environment, and explores the attraction of global transaction services as a business.

Key findings from this year’s report span three areas including:

  • Global and European trends where Non-Cash payment volumes grew 8.6% in 2007. Payment innovation continues to offer attractive opportunities. Initial indications show the payments business has withstood the financial crisis, however, only 2008 figures will reveal the full effect of the current market.

  • SEPA achievements made in 2008 towards realizing the SEPA vision and the interpretation and transposition of the PSD. However, the need for gaining clarity on some remaining key issues and practical obstacles continue in order to avoid the risk of a mini-SEPA.

  • Global Transaction Services (GTS) divisions were cited as a stable and profitable source of revenue for financial institutions amidst weak economic conditions. GTS accounts for 5-20% of group revenues and remains an important source of bank revenues with a cost/income ratio as low as 50%.

Read the full report to learn more about building successful GTS franchises based on the 36 interviews we conducted with 16 major players and 20 of their corporate clients.



Contact UsTo discuss the findings of the World Payments Report in more detail and find out how SEPA will impact your financial institution, contact us at payments@capgemini.com.

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First Data Appoints CFO



Atlanta, -- Michael D. Capellas, chairman and chief executive officer of First Data, today announced the appointment of W. Patrick Shannon, 46, as executive vice president and chief financial officer of the Company, effective immediately. Shannon will be based in Atlanta, Ga.



“First Data’s global leadership position in the payments industry enables us to attract the best talent in the business,” said Capellas. “We are extremely excited about welcoming Pat to First Data’s executive management team. His proven leadership and financial strengths will help us better execute against our key strategic goals.”



Prior to this appointment, Shannon served as chief financial officer of BellSouth Corporation from 2005 to 2007 until the completion of BellSouth’s merger with AT&T Corporation. In addition, he served as a director of Cingular Wireless and a member of Cingular’s Audit Committee. He brings a proven track record and more than 26 years of experience.



Prior to his election as chief financial officer, Shannon was senior vice president for finance responsible for all corporate and divisional financial management, accounting and tax matters. Prior to joining BellSouth Corporation, he was employed by U S West, Inc. in various financial-related positions, including vice president and chief financial officer of MediaOne, Inc., US West’s cable operations in Atlanta. Shannon is a certified public accountant and holds a bachelor’s degree from the University of Georgia.



Shannon succeeds Phil Wall who has been appointed the chief financial officer of Bank of America Merchant Services, the recently formed alliance between First Data and Bank of America. Wall will join the Bank of America Merchant Services senior management team and report directly to its Chief Executive Officer Tom Bell.



About First Data



First Data powers the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of electronic payment. Whether the choice of payment is a gift card, a credit or debit card or a check, First Data securely processes the transaction and harnesses the power of the data to deliver intelligence and insight for millions of merchant locations and thousands of card issuers in 36 countries. For more information, visit www.firstdata.com .

Performance Plus Tire Selects mPayy for Online Payment Processing

Performance Plus Tire Selects mPayy for Secure Online Payment Processing

Wednesday, September 9th, 2009 | PIN Payments Blog



Cost Savings and One-Click Ordering Differentiate mPayy in Alternative Payments



CHICAGO–(BUSINESS WIRE)–mPayy, Inc., a scalable online and mobile payment provider, today announced that Performance Plus Tire selected the company’s secure debit platform to process online payments from its customers.



“We chose mPayy for two primary reasons: speed of checkout and cost,” said Glenn Feldman, VP of Internet Operations of Performance Plus Tire. “mPayy’s email invoicing allows our customers to complete the checkout process with a single click, and we reduce our payment processing costs by half, as compared to other payment solutions available in the marketplace.”



Performance Plus Tire accepts orders online, confirms the inventory, and invoices customers via email for any of the tires, wheels or rims customers purchase each day.



“We are very pleased with our relationship with Performance Plus Tire and are excited about the benefits of this relationship for not only both companies, but our individual customers as well,” noted Conrad Sheehan, CEO of mPayy.



mPayy offers multiple payment models, including seamless integration to merchant websites through its lightbox checkout window; and email and text messaging invoices that power checkout on any online or mobile website. mPayy’s secure debit solution is built around the mobile number and enables secure, convenient purchases and bill payment directly from customers’ checking accounts.



About mPayy, Inc (www.mpayy.com)



mPayy is a secure online and mobile payment provider that enables merchant processing for any sized online retail business, plus quick and simple purchasing for buyers. The company’s highly scalable payment platform for Internet retailers improves margins by reducing fraud and transaction costs. mPayy has created an efficient and ubiquitous payment service that enables profitable micro-payments; easy, yet secure purchases of digital content and physical goods; and free person-to-person payments. mPayy is fundamentally changing the economics of both e-commerce and m-commerce. For more information, please visit www.mpayy.com.



About Performance Plus Tires (http://www.performanceplustires.com)



PERFORMANCE PLUS offers a variety of products and services to enhance your vehicle’s performance. Performance Plus’ tire catalog contains the perfect tire for any car’s needs. Performance Plus Tire’s ASE certified technicians will take care of all automotive needs. Performance Plus Tires will never promise more than they can deliver and always gives the customer more than they expect. Customer loyalty is Performance Tire’s top priority.



Contacts



Media Contact:

Kristie Heins Fox

Ruder Finn for mPayy

312.329.3985

heinsfoxk@ruderfinn.com

MoneyGram CEO Departs, New CEO Named





MoneyGram International Executive Chairman Pamela H. Patsley Assumes Additional Role of Chief Executive Officer
Former CEO Ryan Departs Company


MINNEAPOLIS--(BUSINESS WIRE)--Sep. 1, 2009-- MoneyGram International (NYSE:MGI), a global leader in the payment services industry, today announced that the company’s executive chairman, Pamela H. Patsley, will be assuming the additional role of chief executive officer succeeding Anthony P. Ryan effective immediately. Additionally, Ryan has resigned from the Board of Directors.



“We thank Tony for his valuable contributions to the company and wish him all the best. At the same time, we are very pleased that Pam has stepped into the role of chief executive officer in addition to her responsibilities as chairman,” said Seth Lawry, director and chair of the Human Resources and Nominating Committee for MoneyGram. “Over these last months, Pam has proven to be a terrific addition and we believe that she is the ideal leader to build MoneyGram into a world-class competitor.”



Patsley, 52, has served as executive chairman of MoneyGram since January 2009. Prior to joining MoneyGram, Patsley spent seven years at First Data Corporation, most recently as President of First Data International, where she was responsible for all the company's business outside the U.S. Prior to First Data, she served as CEO of Paymentech Inc., which she took public in 1996 and then sold to First Data for an enterprise value of $1 billion in 1999. Since leaving First Data in late 2007, she has worked with private equity firms evaluating payments services opportunities.



“I am pleased to be assuming the additional role of chief executive officer at MoneyGram,” said Patsley. “This is an exciting industry and one that provides a tremendous opportunity for growth. We will focus our efforts on strengthening MoneyGram’s position in the worldwide payments industry and creating long-term value for all of our stakeholders.”

Ryan joined MoneyGram in 1995 and had been responsible for overseeing day-to-day operations of the company since June 2008.



About MoneyGram International

MoneyGram International offers more control and more choices for people separated by distance or with limited bank relationships to meet their financial needs. A leading global payment services company, MoneyGram International helps consumers to pay bills quickly and safely send money around the world in as little as 10 minutes. Its global network is comprised of 180,000 agent locations in nearly 190 countries and territories. MoneyGram’s convenient and reliable network includes retailers, international post offices and financial institutions. To learn more about money transfer or bill payment at an agent location or online, please visit www.moneygram.com.



Source: MoneyGram International



MoneyGram International

Media:

Lynda Michielutti, 952-591-3846

lmichielutti@moneygram.com

or

Investors:

Alex Holmes, 720-568-8703

aholmes@moneygram.com


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First Atlantic Commerce and MITec Fight Online Card Fraud in Mexico

Hamilton, Bermuda and Mexico City, Mexico, (PIN Payments Blog) -- First Atlantic Commerce (FAC), a leading, international, multi-currency payment gateway and risk management solutions provider, and Mercadotecnia Ideas y TecnologĂ­a (MITec), a leading transactional gateway in Mexico, today announced their collaboration to fight online credit card fraud in Mexico.



FAC offers customized consumer authentication-only risk solutions to merchants, acquiring banks and processors in the Latin American Caribbean Region, in addition to a full suite of other online risk solutions including North American Address Verification (AVS) services, CVV2/CVC2/CID validation and Consumer Credit Card verification services.

In a move to add value to their services and provide their clients with the best available technology, MITec has selected FAC for its world-class online risk management solutions.



FAC is providing MITec with AVS-only services, which allows merchants to automatically screen by comparing the online billing address to the billing address attached to the cardholder’s credit card, and process transactions in real-time.

MITec is also using FAC’s 3-D Secure™ only service, which is a fully compliant payer authentication solution for Verified by Visa and MasterCard®SecureCode™ designed to protect international online merchants from fraudulent transactions.





Gabriel Gomez, director of fraud prevention for MITec said: "FAC’s solutions are key in helping us to mitigate chargebacks and credit card fraud. We are now armed with incredible consumer authentication tools from FAC, which we have integrated into our fraud prevention services to help fight online credit card fraud.”





Added Christopher Burns, FAC’s VP of International Business Development: “We are excited to be a part of MITec’s online fraud prevention strategy. Our fraud management solutions are the ultimate in online protection and we look forward to a long and rewarding relationship with MITec.”





FAC’s online payment and risk mitigation solutions are compliant and PCI certified, and also available to banks and processors in other regions including Europe, CEMEA and Asia.



For more information on FAC’s approach to authenticating consumers online, banks and processors should contact info@fac.bm today or visit the company’s website – www.firstatlanticcommerce.com.



About First Atlantic Commerce

First Atlantic Commerce (FAC) is a leading Internet, multi-currency payment and fraud risk solutions provider. Headquartered in Bermuda, and established in 1998 to create secure card-based payment solutions for e-businesses, FAC’s cGate® technology offers service, flexibility and security to adapt to many business and bank acquirer requirements. FAC provides merchants with multi-currency payment solutions in addition to fraud and data management services including AVS, CVV2/CVC2/CID, 3-D Secure™ and IP Geolocation in multiple jurisdictions across Europe, Asia and the Latin American Caribbean Region.



About MITec

As an innovator in the electronic payments and processing space, MITec offers capable and interactive solutions for both the physical and virtual sales channels. Based in Mexico City, MITec is a privately owned company that processes close to 1,400,000 transactions per month, serving clients in the cable, insurance, retail and airline industries. MITec is a leading transactional gateway in Mexico. The company provides specialized transactional services, from banks to retailers and inter-institutions, making a smooth technological connection between them allowing better payment solutions, customer services, information exchange and value added services based on marketing focus, client oriented philosophy and the best available technology. Additionally, MITec provides unique fraud prevention services in the local market.



Source: Company press release.

One-Third of Web Users Fearful of Shopping Online

A Third of Web Users are Too Scared To Shop Online

by Craig Buckler



Editor's note:  It's going to get worse before it gets better.  Until card holder data is instantaneously "encrypted" hackers will use zombies, malware, SQL injection, key logging and yet to be invented pervasive attacks to obtain our financial details.  Here's some snippets from a post on SitePoint...



Almost a third of website visitors consider online shopping to be insecure and unsafe. A recent report published by the UK’s Office of Fair Trading found that 30% of internet users would not hand over their credit card details. The report concluded that consumer confidence is growing, but it’s occurring at a slow rate. Online trading could be held back for many years, especially when UK online sales are twice as high as the European average.



The issue of trust is not helped when large-scale security problems are covered in the press.  Embarrassingly for the shops concerned, the credit card details were accessed using a SQL injection attack. Although the Department of Justice states this is a “sophisticated hacking technique,” developers have been aware about these attacks for many years. Whilst no system can ever be 100% secure, SQL injections can normally be thwarted with rudimentary data sanitization and securely-formed SQL commands.



Hacking “success” stories have an immediate impact. 7-Eleven’s online sales have certainly been affected, but the case will have a domino effect throughout the web.



The fact remains that a large proportion of users do not trust the web. Online shopping will never reach its full potential unless we tackle that problem effectively.




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ATM Network Offers Zero Down 0% Interest for 6 Months



Minnetonka, Minn, -- ATM Network is offering prospective customers a new atm program that gives them six months to pay for all new atm machines (www.atmnetwork.net / atmgallery.php ). Under this program, ATM Network ships and installs the atm, and also provides signage, toll-free customer support, and real-time internet monitoring. Customers can either pay for the atm machine in full after the six month period or have it converted to a traditional lease with monthly payments.



According to ATM Network's General Manager, Kurt Duhn, the program has become very popular. "Our new customers really love this program because it's very flexible. Customers have the option of paying the atm machine off after the six months with no interest, or letting it roll into a lease. It's nice to be able to offer two different options that the customer doesn't have to decide on for six months."



The owner of an atm machine collects revenue in the form of a transaction fee or surcharge that is assessed on each cash withdrawal. With ATM Network's zero down program, the atm owner receives a check for the surcharge revenue every month, even during the six month, no-payment period. "We've had a number of customers tell us that the revenue checks they received during the six months more than covered the cost of the machine when they paid it off," remarked Duhn.



Established in 1996, ATM Network is a nationwide atm company that specializes in atm sales, service, and customer support. For more information, visit atmnetwork.net . (www.atmnetwork.net )



Source: Company press release.

NY Times on Debit Cards and "Overdraft Protection" Fees

Now that debit has surpassed credit in terms of both the number of transactions AND volume, we are starting to see more media reports on the subject of debit.  One of focal points are "overdraft protection"  fees attached to "signature debit" transactions.  These fees earned banks $38 Billion dollars in 2008.  Unless you are a  Wells Fargo or a Bank of America customer, you can request the stoppage of what they euphemistically call "overdraft protection."  (WF and BoA won't let you switch that cash cow off)  Anyway...



The New York Times recently ran a couple stories on debit cards   Here's an excerpt from one, followed by an excerpt from the other:



When Peter Means returned to graduate school after a career as a civil servant, he turned to a debit card to help him spend his money more carefully.


So he was stunned when his bank charged him seven $34 fees to cover seven purchases when there was not enough cash in his account, notifying him only afterward. He paid $4.14 for a coffee at Starbucks
and a $34 fee. He got the $6.50 student discount at the movie theater — but no discount on the $34 fee. He paid $6.76 at Lowe’s for screws — and yet another $34 fee.
All told, he owed $238 in extra charges for just a day’s worth of activity



Mr. Means, who is 59 and lives in Colorado, figured employees at his bank,
Wells Fargo, would show some mercy since each purchase was less than $12. In addition, a deposit from a few days earlier would have covered everything had it not taken days to clear.

But they would not budge.

Editor's Note:  Has anyone else noticed that a check's "float" has been all but eliminated when "paying" with a check (thank you check imaging) but when "depositing" a check, the clearing time has increased.  Does anyone have an explanation as to why that might be?  (other than setting up the consumer for $238  worth of "overdraft protection" fees)  Has anyone else noticed that banks reshuffle (see graphic on left) the order of the checks "in order" to reap the highest amount of "overdraft protection" fees?  (i.e. $300 in account.  5 debit purchases.   1-4 are $25.  5 = $275.  The $275 is paid leaving $25  resulting in 3 overdraft protection charges of $35.  ($105) as opposed to paying the 1 for the $275.)



Banks and credit unions have long pitched debit cards as a convenient and prudent way to buy. But a growing number are now allowing consumers to exceed their balances — for a price.


Continue Reading "Overspending on Debit Cards a Boon for Banks" at NYT





So what can consumers do about it? 



"Many consumers don’t realize their bank may automatically let a debit card transaction go through even if there is not enough money in the checking account. A fee then accompanies the purchase, no matter how small, that exceeds your balance. Some banks, like Bank of America and Wells Fargo, generally won’t let you switch off overdraft coverage.

Stop by the branch or call on the phone and ask to turn off the overdraft protection. Many banks will do this if you ask. But make sure you understand what will happen if it says yes. In addition to cutting your debit card off when you’re at the store and low on funds, will it also refuse to allow bounced checks to go through?"



Read "Preventing Fee's From Piling Up" at the New York Times







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Data Breach Cost Analysis Podcast



















Data Breach Cost Analysis

The average cost of data breaches is rising as companies struggle to contain data leakage, explains Larry Ponemon of the Ponemon Institute. Also, Henry Helgeson, CEO of payment processor Merchant Warehouse, talks about PCI and encryption in the wake of the Heartland breach.  sponsored by Palisade Systems, Inc.


Play now:

    

Download for later:



Data Breach Cost Analysis

• Internet Explorer: Right Click > Save Target As

• Firefox: Right Click > Save Link As


Browse Related Resources:

Data Encryption  |  Data Security  |  Encryption Standards  |  Endpoint Security  |  Hackers  |  Information Security  |  Intrusion Detection  |  Intrusion Prevention  |  Payment Card Industry  |  PCI Bus  |  Risk Assessment

View all Resources by Palisade Systems, Inc.

JJ Buckley Offers Acculynk PaySecure for Internet PIN Debit

 AcculynkJJ Buckley Offers PaySecure for Internet PIN Debit



Major Online Wine Seller Latest Merchant to Add PaySecure to Its Payment Options




ATLANTA--(PIN Payments Blog)--Acculynk announced today that JJ Buckley Fine Wines, a premier provider of high quality wines, has enabled PaySecureTM on its Ecommerce website. PaySecure allows JJ Buckley customers to pay with their debit card and PIN right at the merchant checkout, adding an extra layer of security and convenience to their online transaction.



“PaySecure makes sense for us because we have a good volume of debit transactions on our website, and this payment method gives our customers another choice of how they use their debit card,” said Michael Stajer, CEO and co-founder of WineCommune, the parent company of JJ Buckley. “With PaySecure, we benefit from the lower price point of Internet PIN debit plus we expect it will bring new transactions from customers who prefer to pay with PaySecure.”



PaySecure’s graphical PIN-pad appears at the merchant checkout when it is determined that a consumer’s debit card can be used with a PIN and is in Acculynk’s network of participating issuers. Consumers are given the choice to enter their PIN on the PaySecure PIN-pad or run the transaction as signature debit. If they choose to use PaySecure, they enter each digit of their PIN using their mouse, hit “Submit PIN” and receive payment confirmation from the merchant.



“PaySecure provides a seamless payment experience using a debit card that the consumer already has and a PIN only they know – and it brings merchants a pre-enrolled base of consumers ready to shop,” said Ashish Bahl, CEO of Acculynk. “JJ Buckley is an incredibly unique merchant with a great value proposition to online shoppers, and we are pleased that out of all of the available alternatives on the market today, they have chosen to offer PaySecure.”



PaySecure is the first software-only service in the U.S. that provides consumers the option to pay for online purchases with PIN debit. JJ Buckley is a Top 500 Internet Retailer and joins a growing list of merchants that have adopted PaySecure, including AirTran, ShoppersChoice.com, 2Checkout.com and Ace Hardware Outlet. Acculynk recently released data on consumer usage of PaySecure in a white paper entitled “PaySecure: Tracking to Become a Leading Online Payment Method.” The white paper is available for download at http://acculynk.com/.



About JJ Buckley



JJ Buckley Wines was founded as the retail arm of WineCommune, LLC. Since 1999, it has been helping wine lovers find the best wines at excellent prices. JJ Buckley uses the Internet and today’s technology to streamline the entire wine retail process - from interacting with distributors to fulfilling orders. For more information, visit http://www.jjbuckley.com/.



About Acculynk



Acculynk is a leading technology provider with a suite of software-only services that secure online transactions. Backed by a powerful encryption and authentication framework protected by a family of issued and pending patents, Acculynk’s services provide greater security, reliability, convenience and return on investment for consumers, merchants, networks, issuers and acquirers. For more information, visit Hhttp://acculynk.com/.



Contacts



Acculynk

Danielle Duclos, 678-894-7013

Director of Marketing

dduclos@acculynk.com



Permalink: http://www.businesswire.com/news/google/20090909005719/en


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A Day in the Life: 09/09/09

The calendrical anomaly arrives tomorrow...any special plans? 



9/9/09 represents the last set of repeating, single-digit dates that we'll see for almost a century (until January 1, 2101), or a millennium (mark your calendars for January 1, 3001), depending on how you want to count it. Here's how I count it: in 13 months we'll have a perfect 10/10/10, so it's really not as big of a deal as some make it.



As part of his obsession with numbers both mathematically and divine, and like many mathematicians before and since, Pythagoras noted that nine in particular had many unique properties.



Any grade-schooler could tell you, for example, that the sum of the two-digits resulting from nine multiplied by any other single-digit number will equal nine. So 9x3=27, and 2+7=9.



Multiply nine by any two, three or four-digit number and the sums of those will also break down to nine. For example: 9x62 = 558; 5+5+8=18; 1+8=9.



Sept. 9 also happens to be the 252nd day of the year (2 + 5 +2)...



But, when it comes to the past mixing into the present, 09/09/09 signifies The Beatles Rock Band Nine...Number Nine, Number Nine, Number Nine



Oh, and for those who are into Rock Band (I personally prefer blues harmonica) 09/09/09 represents The Beatles Rock Band Release: Please visit thebeatlesrockband.com.

























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