Tuesday, May 10, 2011

IMS Research Says 2011 is Year of NFC

IMS Research is predicting 2011 will be the year that NFC “finally comes good and takes-off.”
“The NFC market has encountered many false dawns from its inception almost seven years ago,” comments Senior Market Analyst Don Tait. “The launch of a number of NFC-enabled smart phones in 2011 is helping the market to gain traction. Also, use of NFC-enabled phones for payment, mass transit & ticketing and access is projected to boost market development over the next few years.
The UK-based research firm, which today issued a survey on the NFC, secure payments and digital security markets, projects that the number of NFC-enabled devices and credentials shipped (particularly NFC-enabled handsets) will increase dramatically in the next five years to reach 920 million units in 2015.
According to Tait, it has taken a number of years to resolve some of the major issues surrounding NFC, including a lack of available handsets, a shortage of contactless terminals, limited infrastructure to support the technology, unclear business models and disagreements between different stakeholders of the ecosystem. Tait says most of these issues are being resolved and have improved significantly over the year.
“NFC is not the only secure digital sector that is forecast to experience good growth in the next few years,” Tait adds. “Payment and banking cards are also projected to show good growth over the next five years with shipments reaching 2.65 billion in 2015. Smart card shipments in the payment and banking sector are to be considerably boosted by People’s Bank of China’s decision to convert all payment cards into smart cards by 2015. The payment and banking sector is forecast to be driven by the migration towards EMV and contactless deployments.”
Tait continues, “Digital security solutions (including conditional access, government and health care ID, physical access control and M2M) are projected to increase from around 600 million units in 2010 to over 1.2 billion units in 2014. National ID is estimated to be by far the largest potential application within the government & health care ID sector. Asia is the largest contributor to this, accounting for over half the national ID cards in circulation.
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Up to 100 Million NFC Phones to Ship in 2011 says NXP

NXP Semiconductors, the company that helped Google integrate NFC into Anroid 2.3, is predicting that between 40 million and 100 million NFC-enabled mobile phones will ship this year, according to IntoMobile.
“Every time we talk to our friends at Google, they tell us to double the numbers for the Android expectations,” NXP CEO Rick Clemmer told IntoMobile. “If the low end happens, maybe it doesn’t get to be greater than 40 or 45 million units this year. If, in fact, Google’s right and we should double everything, then the numbers are closer to a hundred.”
Clemmer added that after a low-key first half of 2011, NFC is set to “ramp rapidly” once the first NFC-embedded devices start shipping later in the year.
Read more here.  

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Report: Windows Phone, Not Android, to Lead Mobile OS Market in 2013

Pyramid Research Graph Shows Windows Overtaking Android in 2013
CAMBRIDGE, Mass.May 10, 2011 /PRNewswire/ -- Windows Phone will lead in mobile OS market share by 2015, topping even Android, according to a new Pyramid Points blog from Pyramid Research (www.pyr.com).
After publishing the global findings from Pyramid's Q1 smartphone forecast (http://www.pyramidresearch.com/pr_prlist/PR050911_SMRT.htm), some people picked up on the very last sentence of our precis:
"By 2015, Windows Phone will establish itself as the leader in the smartphone OS space."   
This statement has been misinterpreted, thinking that the WP will establish its leadership in 2015.  "Pyramid believes that this will happen much earlier – as early as 2013," says Stela Bokun, Senior Analyst at Pyramid Research in her latest blog post, "Why Windows Phone Will Beat Android."  While there are a wide range of opinions on this finding, this blog is mostly aimed at readers who want to understand better how we came to the projection.

Read the full Pyramid Point, Why Windows Phone Will Beat Android: http://www.pyramidresearch.com/points/item/110509.htm?sc=PRN051011_PPSMRT.  

Written by Pyramid analysts, Pyramid Points are complimentary online notes that provide insight into market, business and regulatory developments in the global telecom industry, based on key findings from Pyramid's renowned forecast services. View all Pyramid Points here: http://www.pyramidresearch.com/points.htm.
Also from Pyramid:
Download the Smartphone Forecast Insight (http://www.pyramidresearch.com/downloads.htm?id=2&sc=PRN051011_PPSMRT), a summary of the findings from the Smartphone Forecast just released this week, written by Stela Bokun, Senior Analyst and Practice Leader for Mobile Devices at Pyramid Research.
NFC-Enabled Smartphones to Account for 28% of Global Market by 2015 :http://www.pyramidresearch.com/store/ins_gl_110408.htm?sc=PRN051011_PPSMRT
Global Telecom Insider
For more information about Pyramid Research's products and services, please visit www.pyr.com.
CONTACT: Jennifer Baker, +1-617-871-1910, jbaker@pyr.com
SOURCE Pyramid Research

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Small Business Owners Continue Fight to Ensure Swipe Fee Reform is Enacted on Time

"Congress needs to keep their promise to small business owners and see that these reforms are enacted now." – Dennis Lane, Small Business Owner
WASHINGTONMay 10, 2011 /PRNewswire-USNewswire/ -- More than 50 small business owners from across the country descended upon Washington, D.C. today where they distributed free coffee outside metro stations during morning rush hour to remind Congress about the need for immediate debit card swipe fee reform. Following the coffee drive, they marched to Capitol Hill to conduct face-to-face meetings with their elected representatives.
The small business owners urged members of Congress to follow through on promises to fix a system currently monopolized by big banks and credit card companies. These companies charge so much to process a debit card transaction that when a customer uses their card to buy a small ticket item – like a cup of coffee – small business owners actually lose money, so they might as well give it away for free.
"Under the current system, I lose less money just giving the coffee away. I think there is something really wrong with that," said Dennis Lane, 7-Eleven franchisee and National Spokesman for Reform Swipe Fees NOW! "This imbalanced system is squeezing small businesses across the country; meanwhile the guys at Visa and MasterCard just posted second quarter earnings that grossly surpassed expectations… and they say they can't afford to reform the interchange system and give us a fair shake."
Last year, Congress passed and the President signed into law important bipartisan reforms aimed at fixing the current interchange system, as part of the Dodd-Frank Act. As a result, new rules requiring that debit card swipe fees are reasonable are set to take effect this summer-but the big banks and credit card companies are fighting hard to protect their cash cow, by seeking delays.
Now, Congress is considering legislation in both the House and the Senate that would stall these reforms before they even take effect–a move that would cost small businesses and consumers $33 million per day, $1 billion per month, and $13.5 billion each year.
Some members are even asking for informational studies on the economic impacts of swipe fee reform. However, two studies were recently completed that clearly demonstrated the negative impact swipe fees have on businesses and consumers. First the Government Accountability Office released a study in November 2009 that found Visa/MasterCard's market power problematic and also that swipe fee reform would benefit consumers. And former U.S. Under Secretary of Commerce for Economic Affairs, Dr. Robert Shapiro, estimated excessive swipe fees cost consumers and merchants about $26.9 billion in 2009 alone, money that otherwise could have created nearly 250,000 jobs.
"One year ago Congress made a promise to small business owners and consumers that Wall Street's bullying would stop. They made a promise that the days of unreasonable swipe fees that could increase at any time for any reason, would end – and that meant something to me and to concerned folks just like me all over the country," Lane continued. "Congress needs to keep their promise to small business owners and see that these reforms are enacted now."
For small business owners across the country, properly implementing these reforms means an opportunity to grow their businesses, offer better pay to employees, and pass savings on to their customers. With national unemployment back at 9 percent, these benefits couldn't be more critical.
About Reform Swipe Fees NOW!: Reform Swipe Fees NOW! is a project by the Retail Industry Leaders Association (RILA). The project unites U.S. business owners, small and large, in a campaign for fair debit and credit card swipe fees.
SOURCE Reform Swipe Fees NOW!

Visa Inc. Announces Participation in Upcoming Investor Conferences

SAN FRANCISCOMay 10, 2011 /PRNewswire/ -- Visa Inc. (NYSE: V) today announced its participation in the following investor conferences:
  • --- On Monday, May 16Joseph Saunders, Chairman and CEO, will present at the J.P. Morgan Global Technology, Media and Telecom Conference in Boston. The fireside chat will begin at 10:00 a.m. Eastern Time and last for approximately 40 minutes.
  • -- On Wednesday, May 25Jim McCarthy, Global Head of Product, will present at the Bank of America Merrill Lynch Services One-on-One Conference in New York. The keynote presentation will begin at 12:00 p.m. Eastern Time and last for approximately 50 minutes.

Each presentation will be webcast live and a replay will be archived for two weeks on the investor relations web site at http://investor.visa.com.
Investor Relations: Victoria Hyde-Dunn, 415-932-2213, ir@visa.com
Media Relations: Will Valentine, 415-932-2564, globalmedia@visa.com
SOURCE Visa Inc.

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Google and Foursquare Partner on NFC Check-In at Google I/O

Click Here to Listen to Google I/O Live

PC Magazine Reports
Foursquare and Google have partnered up to test location-based, mobile check-ins at the convention center of Google I/O, the search giant's developer conference taking place this week in San Francisco. Owners of smartphones equipped with near-field communication (NFC) technology, like the new Nexus S 4G,, will be able to check-in on Foursquare and receive a special Google I/O badge by tapping their phones against posters. Or if you, like most U.S. smartphone owners, don't have an NFC-enabled phone, you can scan a QR code on the poster instead. "NFC is, obviously, a long way from being available everywhere and in all phones, but we're excited by some of the potential. Google I/O attendees: have fun tapping in," Foursquare wrote in a blog post.
Read More at PC Magazine 
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Intuit GoPayment NFC Concept Presented at Google I/O Conference

Below is Intuit's Demo of their Near Field Communication Concept which was presented by Intuit's GoPayment at the Google I/O Conference

Intuit GoPayment Brings NFC Innovation to Life at Google I/O

Latest Mobile Payment Concept Would Let Small Businesses Accept Customers’ Payments Without an Actual Credit Card

Google I/O 2011
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Demonstrating ongoing leadership in mobile payment innovation, Intuit Inc. (Nasdaq:INTU) has developed a concept demo that reimagines its GoPayment mobile credit card processing application using near field communications (NFC). The company is showcasing the demo at the Google I/O developer conference in San Francisco today and tomorrow.
http://www.intuit.com“With GoPayment we are exploring every avenue for innovation that best meets our customers’ needs, and this includes technologies such as NFC that are still in the early stages of adoption”
Built on Google’s Android™ mobile platform and using NFC technology with Nexus S by Google, Intuit has transformed its existing GoPaymentmobile credit card processing application into one that transfers credit card data via radio waves, eliminating the need for the actual card or any add-on card reader hardware.
Leveraging emerging mobile technology such as NFC, small businesses and their customers may one day soon be able to conduct a myriad of daily tasks on their mobile devices -- including paying and getting paid -- faster, easier and more securely. All they will need is their mobile device and nothing else.
Intuit is showing its application in the Developer Sandbox area, which highlights next-generation products. A video demo is also available online at: http://Blog.gopayment.com.
Along with developing on the Android platform, Intuit recently announced that it’s developing GoPayment for Android™ 3.0-based tablets. It’s expected to be available this summer.
Multiple Benefits
At Google I/O, Intuit will show how small business owners can use the GoPayment NFC application in multiple ways during their everyday operations – from adding inventory to completing a sale.
To add an item to inventory, a small business owner would simply tap their phone against a product with a smart tag. All information on that product would then appear in the mobile payment application.
Customers could also pay for products using a virtual debit card residing on their phone. To complete the purchase, the customer and small business owner would simply touch their phones together, eliminating the need to swipe a credit card. Plus, no actual credit card information is exposed during the transaction further protecting this sensitive data. Customers could use this same process to receive a receipt, or have a copy of the receipt sent automatically via e-mail or text message.
The result is a faster, easier and more secure way to conduct business without the need for a physical credit card or credit card reader.
Innovating for Customer Needs
“With GoPayment we are exploring every avenue for innovation that best meets our customers’ needs, and this includes technologies such as NFC that are still in the early stages of adoption,” said Chris Hylen, vice president and general manager of Intuit’s Payment Solutions division. “Innovation is happening rapidly in the mobile payment space and we want to be ready to help the millions of small businesses and consumers we serve benefit from the latest technology.”
While the NFC integration with GoPayment is still in concept phase, Intuit is working to incorporate the technology as a feature in the offering in the near future. For more information, visit the Android area of the Developer Sandbox, which is on the 3rd Floor of Moscone West.
About GoPayment
Introduced more than two years ago, GoPayment was one of the first mobile payment services on the market. Today, thousands of people who sell products and services use GoPayment to accept credit cards via their mobile device. GoPayment is growing quickly with GoPayment users processing more than $19 million a week using GoPayment and related services. GoPayment is available for iOS, Android, BlackBerry and Windows 7 devices with no monthly fee, no transaction fees and a free credit card reader. For more information, go to http://gopayment.com/.
About Intuit Payment Solutions
Intuit is one of the largest small business payments processors in the U.S. It processes annually more than $17 billion in transactions for approximately 300,000 small businesses. Over the last 10 years, Intuit has helped small businesses get paid and improve cash flow with a complete family of end-to-end electronic payment solutions. This includes services to process credit cards, e-checks and online payments via a variety of channels including mobile devices, web and retail stores and integrated solutions such as QuickBooks.
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®Quicken® and TurboTax®, simplify small business management, payment and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.
Founded in 1983, Intuit had annual revenue of $3.5 billion in its fiscal year 2010. The company has approximately 7,700 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.
Intuit, the Intuit logo, and QuickBooks, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Android is trademark of Google, Inc.


Intuit Inc.
Sharna Brockett, 650-944-3856
Access Communications
Jen Garcia, 415-844-6244

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This Week's American Banker Payment Systems News

This Week's Payment Systems News from American Banker

Prepaid Companies Going After Rivals' Markets
American Banker | May 9
Prepaid companies have largely avoided one another in the quest for customers, but a new partnership between NetSpend and entertainment conglomerate BET alters the dynamic.
Visa May Revise Issuer Incentives After Debit-Fee Cap
American Banker | May 9
Visa said it plans on revisiting its incentive agreements with issuing banks after the Federal Reserve finalizes its capped rate for debit interchange this summer.
CashEdge Rolls Out Prepaid Version of Popmoney
American Banker | May 6
CashEdge Inc. has developed a version of its bank-focused person-to-person payments service for prepaid card companies.
MasterCard-Branded Prepaid Card Launches in Brazil
American Banker | May 6
MasterCard, Banco PanAmericano SA and Rev Worldwide have unveiled a prepaid card in Brazil, where more than half of the country's employed residents are paid in cash.
Cost of Adoption, Economy Influence EMV Adoption in U.S., Fed Bank Exec Says
American Banker | May 5
As the U.S. determines how to adapt to payment technology trends spreading around the world, the timing of any changes may be influenced more by cost than anything else.
As Fed Debates Debit-Fee Cap, 'Conspiracy Theories' Emerge
American Banker | May 5
If certain conspiracy theories have any merit, the Fed might be heeding signals from Capitol Hill as it takes more time to finalize debit interchange rules, one payment industry ...
MasterCard, Profit Up 23%, Doesn't Expect Near-Term Hit from Debit Interchange Cap
American Banker | May 4
The Federal Reserve Board's debit interchange cap is set to go into effect July 21, but MasterCard Inc. said it does not expect to feel its impact until at least next year.
After Data Breach, Sony Considering Reimbursing Card-Reissuing Costs
American Banker | May 3
Sony said it would consider reimbursing FIs for the costs associated with reissuing credit cards that might have been compromised in last month's breach of its PlayStation Network.

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ViVOtech Introduces Point of Sale Add-On NFC Reader for Delivering Personalized Shopping and Quick Check Out

Cost-Effective Solution Protects Costly Investments in PIN and Signature Capture Pads
SAN DIEGO--(BUSINESS WIRE)--Electronic Transaction Association Annual Meeting — ViVOtech, the near field communication (NFC) software and systems company, today introduced the first in a new generation of NFC add-on devices that merchants can attach to their current point of sale terminals.
“Our new ViVOpay 4800 does all of that, plus it protects merchants’ billion dollar investments in expensive PIN and signature capture pads.”
Called the ViVOpay 4800, the add-on lets consumers use contactless cards, contactless stickers attached to existing phones, or NFC-enabled mobile phones to make payments, and take advantage of real-time in-store personal marketing offers, merchandising campaigns, and loyalty programs, while expediting the check out process.
“Merchants want to increase store traffic, create in-store up-sell opportunities, and do it by giving customers what they really want and value – convenience and ease of use,” said Mohammed Khan, president of ViVOtech, which has shipped more than 800,000 contactless and NFC readers. “Our new ViVOpay 4800 does all of that, plus it protects merchants’ billion dollar investments in expensive PIN and signature capture pads.”
Featuring ISO 14443 contactless and ISO 18092 peer-to-peer NFC technologies, the ViVOpay 4800 is built on the latest generation of high performance, secure processors, and is equipped with the Linux operating system and ample application memory to enable merchants to accept branded contactless, magnetic-stripe and EMV payments.
The ViVOpay 4800 includes a new patent-pending dual-loop antenna to assure consistent and positive experience to NFC mobile customers, and is designed for easy connection to the most popular POS and electronic cash register (ECR) systems used by retailers today. Post-deployment firmware updates by remote download, will be used to keep the system current and compliant, while eliminating the need for additional device recertification.
Tools for delivering marketing and merchandizing programs are available for the new ViVOtech reader so merchants are not completely dependant on third parties’ generic services.
About ViVOtech
ViVOtech, the near field communication (NFC) software and systems company, enables rich mobile commerce solutions for in-store payment, loyalty, marketing, and merchandising. Merchant, payment, mobile, web and advertising companies use ViVOtech solutions to enhance customer experience and grow their business. VIVOtech’s NFC software and systems are the broadest, most tested and deployed worldwide. Founded in 2001, Silicon Valley-based ViVOtech provides the key building blocks of the NFC ecosystem: smart applications for enhancing the customer experience, wallet and trusted service manager, (TSM) software, and point of sale systems. ViVOtech’s investors include Alloy Ventures, Citigroup, Draper Fisher Jurveston, First Data Corporation, Motorola Ventures, Nokia Growth Partners, NCR, NXP and Sprint. Join the NFC revolution at http://www.ViVOtech.com.


For ViVOtech
Kristin Miller, +1 719-634-8292

VeriFone Announces PAYMEDIA Solutions for Small to Medium-Sized Merchants

Transforms the Point-of-Sale into the Intelligent Checkout with Infrastructure, Systems and Services to Integrate Payment with New Media and Online Services
ETA 2011 Annual Meeting & Expo
Booth #202
SAN DIEGO--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY), today announced PAYMEDIA Solutions, a comprehensive, subscription-based offering that provides small to medium-sized merchants with payment solutions and access to payment-enabled media at the checkout counter, including the integration of online services such as digital couponing, loyalty, location-based social media and value-added services.
“PAYMEDIA ensures merchants can meet the rapidly evolving needs of media-savvy consumers and take advantage of the latest systems, including NFC-capable payment acceptance, without risking upfront investments.”
As a turnkey solution, PAYMEDIA represents an expansive portfolio of systems, infrastructure and services with which ISOs, acquirers and other resellers can equip merchants with a true “intelligent checkout” capability that integrates traditional payment with discounts, rewards and coupons. A monthly subscription-based pricing model eliminates upfront hardware costs and ensures compatibility with new capabilities and services as they become available.
PAYMEDIA builds on VeriFone’s PAYware Connect intelligent gateway services to integrate traditional payment authorization with non-traditional payment-enabled media and services that accommodate consumer mobile phones. VeriShield Total Protect, Secured by RSA, provides an end-to-end encryption and tokenization solution to alleviate PCI compliance issues.
“VeriFone created a complete payment-enabled digital media ecosystem that brings the full potential of online payment-oriented and social media services to the offline retail counter,” said Paul Rasori, VeriFone senior vice president of marketing. “PAYMEDIA ensures merchants can meet the rapidly evolving needs of media-savvy consumers and take advantage of the latest systems, including NFC-capable payment acceptance, without risking upfront investments.”
PAYMEDIA encompasses payment acceptance systems, intelligent gateway services, and managed services that include end-to-end security and automated software updates. It integrates traditional payment services such as credit and debit, with emerging alternative payments and online payment-enabled media and services. Additionally, ISOs and acquirers can take advantage of sophisticated online tools such as automatic compliance updates, on-demand terminal status reporting, and real-time merchant attrition alerts.
“Our reseller partners can provide complete integrated solutions that drive consumers into merchants’ stores and by enticing them with rapidly evolving value-added services,” Rasori said. “With PAYMEDIA, resellers can transform their sales operations into a recurring revenue business model that fosters long-term services-oriented relationships with merchants.”
VeriFone has established partnerships to bring the services of MocaPay and vPromos to the retail checkout through PAYMEDIA and will announce additional services throughout the year. PAYMEDIA will be available beginning in June through select resellers including the following:
  • Bankcard USA
  • EVO
  • Electronic Merchant Systems
  • Franchise Payment Network
  • Pivotal Payments
  • U.S. Merchant Services
  • U.S. Merchant Systems
  • Vantage Card
  • Veracity Payments
Additional Resources: www.paymedia.com/smb
About VeriFone Systems, Inc. (www.verifone.com)
VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.


VeriFone Media Relations
Editorial Contact:
Pete Bartolik, 508-283-4112

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TSYS Announces Significant Move into Canadian Merchant Processing Market


TSYS Signs Merchant Services Agreement With Caledon Card Services

COLUMBUS, Ga. & GEORGETOWN, Ontario--(BUSINESS WIRE)--TSYS Acquiring Solutions today announced a significant move into the Canadian merchant processing market as part of an agreement with Caledon Card Services, a payments technology provider specializing in e-commerce, tokenization and card-not-present (CNP) environments. Caledon’s full-service processing agreement will leverage TSYS’ platforms with an end-to-end solution for its merchants and partners.
“When looking for a partner for our settlement and gateway services, we knew we needed a company with technological depth to support our clients’ various needs”
“TSYS continues to establish a strong presence in this growing North American market, and the agreement with Caledon represents yet another step into the Canadian processing space,” said Mark Pyke, president of TSYS Acquiring Solutions. “We couldn’t be more excited about supporting Caledon’s processing solutions, and are pleased to be a part of this fast-growing company’s future development.”
“When looking for a partner for our settlement and gateway services, we knew we needed a company with technological depth to support our clients’ various needs,” said Ian Rankin, chairman of Caledon Card Services. “TSYS easily satisfied these objectives, and we’re confident that we’ll enjoy a long and beneficial relationship.”
TSYS will facilitate authorization, capture, settlement and related payment services for Caledon’s merchants using TSYS’ established interchange system. Caledon will also send its dispute processing functions through TSYS’ industry-leading dispute and chargeback platforms.
About TSYS
TSYS (NYSE: TSS) is reshaping a new era in digital commerce, connecting consumers, merchants, financial institutions, businesses and governments. Through unmatched customer service and industry insight, TSYS creates a better experience for buyers and sellers globally, supporting cross-border payments in more than 85 countries. Offering services in credit, debit, prepaid, mobile, chip, healthcare, installments, money transfer and more, TSYS makes it possible for those in the global marketplace to conduct safe and secure payment transactions with trust and convenience.
TSYS’ global headquarters are located in Columbus, Georgia, with other local offices spread across the Americas, EMEA and Asia-Pacific. TSYS serves approximately 400 clients in 85 countries, including relationships with more than half of the Top 20 international banks. For more information, please visit us at www.tsys.com.
About Caledon
Caledon Card Services provides PCI compliant internet gateway payment processing for merchants across North America. Specializing in custom ecommerce integrations, tokenization and all card-not-present (CNP) environments, Caledon processes more than 50 million transactions worth over $4.2 billion each year. A pioneer in its space, Caledon processed Canada’s first web originated credit card transaction back in 1997. Now as a full Canadian merchant acquirer, Caledon’s primary strategy continues to focus on providing secure, innovative, and niche type payment processing solutions for card brands, merchants, and partners alike. For more information, please visit www.caledoncard.com.


TSYS Media Relations
Cyle Mims, +1-706-644-3110
TSYS Investor Relations
Shawn Roberts, +1-706-644-6081

At A Glance

Source: via Business Wire
Updated 07/07/2009 by company

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Startup Sequent Software Secures VC Funding to Make NFC Mobile Payments Easy

REDWOOD CITY, Calif.May 10, 2011 /PRNewswire/ -- Sequent Software (www.sequentsw.com), a leading provider of NFC (near field communication) software and systems, announced today that it has closed a series A financing.  Opus Capital and SK Telecom Ventures led the financing, which will fuel Sequent's growth as it drives commercial NFC mobile payment deployments of large customers and partners and allows consumers to make payments and other transactions with their mobile devices.
NFC-enabled mobile devices from manufacturers such as RIM and Google will give consumers the opportunity to download payment cards and other credentials to their phones, using them for payments, offers, and product information in retail stores with the wave of a hand.  The difficulty of connecting the legacy payments infrastructure with the rapidly moving mobile ecosystem has confounded each industry for years.  Unleashing the power of a consumer's secure payment credentials onto a smart device such as a mobile phone will unite the richness of the Internet, the power of mobility and the reach of electronic payment.  
"Sequent's solution is innovative and unique in that we do not require significant changes to the existing, highly secure and complex payments infrastructure," said Sequent CEO Drew Weinstein.  "We are the only company whose sole focus is being a neutral, pervasive administrator of individuals' personal identification and credentials between the payments world, retailers, smartphone providers and mobile network operators."
Bob Borchers from Opus Capital and Rob Trice from SK Telecom Ventures will join the board with this fundraising.  "Drew and the Sequent team have created an amazing platform for making NFC implementations and transactions easy and compelling," said Bob Borchers, General Partner at Opus Capital.  "We are excited to help Sequent grow into the global leader in NFC systems and services."
Over the next year, payments and retail interactions will connect the richness of the Internet with the pervasive presence of mobile phones.  Sequent's comprehensive NFC platform and on-device software is offered as a hosted solution to help companies get to market quickly, or can be licensed and locally deployed.  Additionally, Sequent provides end-to-end services, such as customer diagnostics and care, business intelligence analytics, and hardware and software deployment.  Over the course of 2011, Sequent's customer base will be providing live NFC transactions at the tens of thousands of NFC-enabled point-of-sale (POS) already being used in retail with "contactless credit cards" such as Visa payWave and MasterCard PayPass.

About Sequent
Sequent provides the simplest solution for payment networks, retailers and the mobile ecosystem to offer NFC (near field communication) services to consumers.  As the only company built as a dedicated Root TSM (Trusted Service Manager), Sequent's comprehensive, turnkey suite of innovative software and services enables companies to quickly and easily enable payment cards from financial institutions, merchants, and transit agencies on NFC-enabled mobile devices.  Sequent applies a highly secure yet nimble architecture to unleash the next generation of personal interactions on mobile devices in the physical world.  For more information, please go to www.sequentsw.com. 
Sequent is located in Redwood City, CA, and previously operated as Sparq Mobile Solutions.
SOURCE Sequent Software

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