Thursday, August 4, 2011

DOJ Reaches Settlement with Verifone on Hypercom Aquisition

Department of Justice
Office of Public Affairs
Justice Department Reaches Settlement with VeriFone and Hypercom After Gores Group is Determined to be Acceptable Buyer for Point-of-Sale Terminals Business
Divestiture Will Preserve Competition in the Point-of-Sale Terminals Industry
WASHINGTON – The Department of Justice announced today that, in order for VeriFone Systems Inc. to complete its acquisition of Hypercom Corp., it must divest Hypercom’s U.S. point-of-sale (POS) terminals business to an entity sponsored by Gores Group LLC, a private equity fund.  The department said that the divestiture should eliminate the merger’s potential to harm competition in the sale of POS terminals.
The department filed a lawsuit on May 12, 2011, in U.S. District Court for the District of Columbia, alleging that the proposed transaction would eliminate important competition in the sale of POS terminals and that a proposed divestiture to the only other significant provider of POS terminals, Ingenico, did not remedy the competitive concerns with the merger.  VeriFone and Hypercom together control more than 60 percent of the U.S. market for the POS terminals used by the largest retailers. They are two of only three substantial sellers of other types of POS terminals.
Shortly after the filing of the lawsuit, on May 20, 2011, VeriFone and Hypercom abandoned the proposed divestiture to Ingenico and entered into settlement negotiations with the department to find an alternative buyer.  Today, the department filed a proposed settlement, which requires the divestiture to the alternative buyer – Gores Group – that, if approved by the court, would resolve the competitive concerns of the lawsuit.
“The Department of Justice’s proposed remedy ensures that competition will remain in point-of-sale terminals markets,” said Christine Varney, Assistant Attorney General in charge of the Department of Justice’s Antitrust Division.  “The proposed sale of the Hypercom assets to Gores will create an independent and significant competitor in the United States, both right now and into the future.”
To remedy the department’s competitive concerns, VeriFone and Hypercom will be required to sell Hypercom’s U.S. POS terminals business to Gores.  This includes physical assets, personnel, intellectual property rights, transitional support and all other assets necessary for Gores to become a viable competitor in this industry.  If the assets are not sold to Gores within 20 days following entry of the final judgment, a trustee will be empowered to sell the assets to another buyer acceptable to the United States, in its sole discretion.  
VeriFone is a Delaware corporation headquartered in San Jose, Calif.  VeriFone earned more than $1 billion in worldwide revenues in its last fiscal year, ending in October 2010.
Hypercom is a Delaware corporation headquartered in Scottsdale, Ariz.  Hypercom earned more than $450 million in worldwide revenues in 2010.
Gores Group is a private equity firm headquartered in Los Angeles.  Currently, Gores has more than $4 billion in equity under active management.   
As required by the Tunney Act, the proposed 10-year settlement, along with the department’s competitive impact statement, will be published in the Federal Register.  Any person may submit written comments concerning the proposed settlement during a 60-day comment period to James J. Tierney, Chief, Networks and Technology Enforcement Section, 450 Fifth Street, N.W., Suite 7100, Washington, D.C. 20530.  At the conclusion of the 60-day comment period, the U.S. District Court for the District of Columbia may enter the proposed settlement upon finding that it is in the public interest.

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NFC Payment Transaction Values in China Could Surpass $8 Billion by 2014, Says ABI Research

SINGAPORE--(BUSINESS WIRE)--China could see more than $8 billion in mobile payments by 2014, according to ABI Research forecasts.

In China, however, device manufacturers and operators are keen to move ahead with contactless mobile payment. It will be interesting to see how ZTE, as a local OEM, implements its announced range of NFC smartphones and handsets.The Near Field Communication (NFC) market is moving forward on an uneven front. Google is aggressively supporting the technology through the latest generation of Android handsets from its partners such as Samsung. Nokia is introducing NFC-capable handsets, but the C7 and N9 only support non-secure applications and not contactless payment.
http://www.abiresearch.comJake Saunders, VP for forecasting at ABI Research notes, “China is a big mobile payments market to play for. There were more than 868 million cellular subscribers as of the end of March 2011.”
China’s mobile payments industry is burgeoning, attracting many participants wishing to grab first-mover advantage and vie for a bigger slice of the pie. ABI Research estimates that NFC payment transaction values in China could surpass $8 billion by 2014. Financial institutions (China UnionPay), third party mobile payment service providers, and Mobile Network Operators (China Mobile, China Unicom and China Telecom) are all jostling for position. According to Saunders, “ABI Research believes the mobile payment market in China will largely adopt an MNO-led business model.”
The Chinese government has expressed a preference for an NFC device solution utilizing the 13.56 MHz frequency band. To break the classic chicken-and-egg cycle, there are bridging solutions intended to stimulate the contactless payment market. The principal one is contactless (NFC) SIM cards. WatchData’s SIMpass solution has attracted strong interest from all three operators.
As a result, more NFC handset add–ons are shipped than NFC-enabled mobile handsets: 2.5 million SIMpass add-ons and 50,000 SD add-ons, versus 45,000 handsets in 2010.
ABI Research’s “Mobile Payments in China” study (, produced by the firm's Singapore division, provides an overview of the contactless mobile payments ecosystem in China. It also explores the near-term regulatory directives and the payment technology competition among the key players, and points out the potential winners and losers.
ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. From offices in North America, Europe and Asia, ABI Research’s worldwide team of experts advises thousands of decision makers through 40+ research and advisory services. Est. 1990. For more information visit, or call +1.516.624.2500.


ABI Research
Christine Gallen, +44.203.326.0142

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Beyond Cell Phone Wallets, Biometrics Promise Truly Wallet-Free Future

The rollout of NFC payments in the U.S. has been so sluggish that a superior technology -- biometrics -- is about to catch up
Ever since Google announced that its Android phones would be equipped with a "digital wallet"that allows users to pay for things simply by touching their phone to a pad, interest in our wallet-free future has taken off. Long in use in Asia and especially Japan, the enabling technology, Near Field Communication, has allowed users to more or less completely replace credit cards with phones -- yet the technology has languished in the U.S.   That delay has dragged on so long that at least one competing, not to mention superior, technology has reached maturity. Manufactured by Fujitsu under the trade name PalmSecure, it's a system that requires no hardware on the user side. If you've got hands and you can wave them in front of a detector, you can use it to make purchases.  read more

C-SAM to Support Isis Mobile Commerce Platform

C-SAM’s Wallet Management Platform and SDK to Support Isis Mobile Commerce Platform

CHICAGO--(BUSINESS WIRE)--C-SAM, a pioneer in secure mobile transaction technology, signed an agreement with Isis, the mobile commerce joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless, to license its wallet management platform and software development kit (SDK). The C-SAM platform will enable Isis to offer smartphone users a comprehensive mobile wallet for conducting secure near-field-communication (NFC) transactions related to payments, rewards, coupons, tickets, transit and other services.
“We have incorporated learnings over the years from diverse markets and deployments to build a highly scalable mobile wallet management platform, supported by a comprehensive SDK”
“C-SAM’s vision has been to recreate a leather wallet metaphor on mobile phones,” said Sam Pitroda, Chairman and Founder of C-SAM. “We are excited about the agreement with Isis and confident that our mobile wallet will provide additional convenience, flexibility and security to Isis’ customers.”
C-SAM’s SDK enables service providers to build their own applications for NFC based proximity transactions as well as remote over-the-air services. Isis will use C-SAM’s SDK to rapidly build its open mobile commerce platform.
“We have incorporated learnings over the years from diverse markets and deployments to build a highly scalable mobile wallet management platform, supported by a comprehensive SDK,” said Felix Marx, CEO of C-SAM. “C-SAM’s platform and SDK will enable Isis and their partners to rapidly build a secure transaction ecosystem in the US. We believe Isis will usher in a new approach for service providers worldwide to build similar ecosystem based mobile payment and commerce networks for their respective markets.”
Isis, which announced its formation in November 2010, is focused on enabling mobile commerce on a nationwide basis. The company will launch its mobile commerce program in Salt Lake City, Utah and Austin, Texas in the first half of 2012. Isis will offer customers a highly secure and convenient way to pay, redeem coupons and store merchant loyalty cards, all with the tap of a phone.
“C-SAM’s platform provides coverage across various carrier networks, operating systems, and NFC handsets, ensuring Isis can rapidly scale,” said Michael Abbott, CEO of Isis. “Together with C-SAM, Isis will allow consumers to experience a new and secure way to shop, pay and save, all with the tap of their phone.”
C-SAM has over twenty five reference value added services bundled with its SDK, from mobile payments to coupons to ticketing to banking to parking to health, enabling service providers to rapidly build and deploy their own secure transaction widgets.
For additional information on this press announcement, please contact Doug Morgan at
About C-SAM:
C-SAM, Inc. is a pioneer in secure mobile transactions technology offering a range of mobile phone based applications for financial as well as non-financial services. C-SAM is based out of the USA, with operations in Japan and India. The Company licenses technology and provides turnkey services to carriers, banks, merchants, settlement networks, healthcare providers, and large infrastructure providers. C-SAM has launched commercial services in the US, Japan, China, India, Singapore, and Mexico. C-SAM’s highly scalable mobile wallet management platform and comprehensive SDK bundled with over twenty-five reference services has evolved through extensive research and development over the last twelve years for which eleven patents have been issued and twenty applications are pending. The platform supports different handset environments and mobile carrier networks, as well as near-field-communication (NFC) based secure proximity transactions for payment as well as non-payment applications. C-SAM’s unique security architecture enables providers to configure different trust models, and effectively aggregate applications from disparate domains without adversely affecting their existing risk management practices. For more information, visit


Doug Morgan, 630-928-0890
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General Patent Signs Second Licensee in Patent Infringement Suit against the Federal Government

Infineon TechnologiesImage via WikipediaGeneral Patent Corporation (GPC) signed a second licensee as a result of a patent infringement lawsuit against the Federal Government. Infineon Technologies AG of Neubiberg, Germany has licensed the “Contactless Cards” patent portfolio of GPC subsidiary Leighton Technologies, LLC.
Suffern, N.Y. (PRWEB) August 04, 2011
General Patent Corporation (GPC), a leading patent licensing and enforcement firm, announced today on behalf of its subsidiary, Leighton Technologies LLC, that Infineon Technologies AG of Neubiberg, Germany, has licensed the Leighton portfolio of “Contactless Cards” patents.
The license with Infineon Technologies is an outcome of a patent infringement lawsuit, Leighton Technologies LLC v. United States of America, U.S. Court of Federal Claims (1:10-cv-00003). Infineon Technologies was not a defendant in this litigation, but the company was given notice of the action by the U.S. Government because, as a government vendor, it might have had an interest under applicable law. Infineon Technologies opted to take a license for the Leighton patents on a non-exclusive basis.
“We are pleased that Infineon Technologies chose to license the Leighton patents,” said Paul J. Lerner, Senior Vice President and General Counsel at General Patent Corporation. “We hope that other government vendors of contactless cards will follow suit and license the portfolio.”
Infineon Technologies joins Gemalto, Inc. – also a federal government contractor – in licensing the Leighton patents as a result of the lawsuit filed against the federal government. Unrelated to this litigation, HID Global Corporation, Oberthur Technologies Group, CPI Card Group-Colorado, Inc. and Allsafe Technologies, Inc. had previously licensed the Leighton patents.
About General Patent Corporation
General Patent Corporation, headquartered in Suffern, N.Y., is a leading intellectual property boutique focusing on patent licensing and enforcement. GPC represents inventors, businesses, universities and other patent owners in patent infringement matters by providing patent assertion and licensing services as well as managing and financing patent litigation on a contingency basis. GPC is the oldest patent enforcement firm in the U.S., and is the managing member of Leighton Technologies LLC. For more information, visit
About Leighton Technologies LLC
Leighton Technologies LLC is the owner of six “Contactless Cards” U.S. Patents:
1. 5,817,207: “Radio frequency identification card and hot lamination process for the manufacture of radio frequency identification cards”
2. 6,036,099: “Hot lamination process for the manufacture of a combination contact/contactless smart card and product resulting therefrom”
3. 6,214,155: “Radio frequency identification card and hot lamination process for the manufacture of radio frequency identification cards”
4. 6,441,736: “Ultra-thin flexible durable radio frequency identification devices and hot or cold lamination process for the manufacture of ultra-thin flexible durable radio frequency identification devices”
5. 6,557,766: “Hot lamination method for a hybrid radio frequency optical memory card converting sheets into a web process”
6. 6,514,367: “Hot lamination process for the manufacture of a combination contact/contactless smart card”
Leighton Technologies is a portfolio company of IP Holdings LLC, and is managed by General Patent Corporation. A non-exclusive license under these patents is available on reasonable and non-discriminatory terms. For licensing terms, please contact Kathlene Ingham at (845) 368-4000 x107. For more information, please visit
About IP Holdings LLC
IP Holdings LLC, a member of the GPC Group of Companies, is an IP-centric merchant banking organization. IP Holdings provides IP-related financial services and IP brokerage, and operates an IP incubator. IP Holdings is a member of Leighton Technologies. For more information, visit

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Lack of US innovation costing Billions in preventable fraud


The US is enamored with outdated and costly modality that is costing Billions in lost revenue and fraud. While many argue the business case for moving to technology like EMV or NFC is hard to justify, the reality is it is incredibly simple to justify based simply on mathematics around today’s massive cost of fraud. 
read more

ESET Partners with Internet Fraud Alert To Combat Cybercrime

Collaborative industry effort focuses on early identification of threats to better protect consumers from online fraud
SAN DIEGO--(BUSINESS WIRE)--ESET today announced its partnership with Internet Fraud Alert, a collaborative project aimed at protecting consumers against online fraud. Launched in 2010 by the National Cyber-Forensics and Training Alliance (NCFTA) and Microsoft, ESET will work with Internet Fraud Alert (IFA) to combat cybercrime. In this role, ESET will report stolen credentials to IFA, which will act as a bridge between security researchers and account credential issuers, creating an early warning system to help mitigate damage done by cybercriminals. With cyber attacks on the rise in both frequency and scope, the need for speed and efficiency in detecting and reporting discoveries has never been greater.
“ESET’s partnership with Internet Fraud Alert serves as further evidence of ESET’s resolve to work collaboratively with other vendors towards the greater aim of creating a safe Internet for all users,” said Aryeh Goretsky, distinguished researcher, ESET North America. “As ESET has demonstrated through its award-winning Securing Our eCity campaign and emphasis on user education in conjunction with proactive cybersecurity software, we are fully committed to providing Internet users with safety and security online.”Millions of Internet users each year fall victim to Internet fraud, and recent data breaches such as those at Epsilon, Sony and the Oak Ridge National Laboratory serve to highlight this growing threat, which affects consumers and businesses alike. As these numbers continue to rise, it becomes increasingly critical to lessen the lag time between security researchers’ discoveries and the necessary actions taken by banks, retailers or other affected businesses to protect their users from fraud. Internet Fraud Alert creates a trusted and effective mechanism for participating researchers, such as those at ESET, to report the discovery of stolen account credentials to the appropriate institution responsible for that account. By quickly informing companies about compromised credentials, IFA allows these businesses to take the appropriate actions to alert and protect their customers.
Internet Fraud Alert brings together an array of partners including retailers, financial institutions, service providers, technology companies, academic researchers, consumer advocates and government agencies. ESET joins Microsoft, American Bankers Association, Citizens Bank, APWG, PayPal, eBay, Accuity, McAfee, Internet Identity, Phishlabs, VeriSign, AllClear and others in supporting Internet Fraud Alert.
“ESET is a valuable addition to the Internet Fraud Alert Program,” said Ron Plesco, CEO and president at NCFTA, which maintains IFA. “The global reach of ESET’s research team, coupled with its comprehensive approach to security and willingness to work alongside its competitors towards the greater good aligns with our mission to protect consumers from the increasingly-common crime of Internet fraud.”
For more information about Internet Fraud Alert, please visit
About Internet Fraud Alert
Internet Fraud Alert (IFA) is a system that functions as a centralized clearinghouse and alerting mechanism allowing trusted participants to report compromised credentials that have been uncovered online. Once reported, IFA will issue an alert to the relevant financial institution or other service provider indicating its customer’s credentials have been compromised. Information regarding the compromised credentials will also be made available to law enforcement tasked with investigating cyber crime.
Internet Fraud Alert creates a trusted and effective mechanism for participating researchers to report stolen account credentials discovered online – such as username and password log-in information for online services or compromised credit card numbers – to the appropriate institution responsible for that account. Through a centralized alerting system powered by Microsoft technology developed specifically for this program, Internet Fraud Alert will quickly inform companies about compromised credentials, allowing them to take the appropriate action to protect their customers. Please See for more information.
About ESET
ESET is on the forefront of security innovation, delivering trusted protection to make the Internet safer for businesses and consumers. IDC has recognized ESET as a top five corporate anti-malware vendor and one of the fastest growing companies in its category. Trusted by millions of users worldwide, ESET is one of the most recommended security solutions in the world. ESET NOD32 Antivirus consistently achieves the highest accolades in all types of comparative testing, and powers the virus and spyware detection in ESET Smart Security andESET Cybersecurity for Mac. Sold in more than 180 countries, ESET’s global headquarters is in Bratislava, Slovakia, with distribution headquarters for North America located in San Diego, California. ESET also has offices in Buenos Aires, Prague, Krakow and Singapore and is represented by an extensive global partner network. For more information, visit or call +1 (619) 876-5400.

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International Bancshares Corporation Partners with Elan Financial Services for Its Credit Card Program

MINNEAPOLIS & LAREDO, Texas--(BUSINESS WIRE)--Elan Financial Services (Elan), the nation’s leading agent credit card issuer, has partnered with International Bancshares Corporation (NASDAQ: IBOC), one of the largest independent bank holding companies in Texas, to offer an industry leading credit card program at its 278 locations throughout Texas and Oklahoma.
“We are excited to partner with IBC to offer compelling credit card products to their customers”
Through this partnership, IBC cardholders benefit from a variety of credit card products with rewards options, such as a full one percent cash back, merchandise, gift certificates, as well as great travel selections. Business cardholders also receive great rewards for every dollar spent and have access to tools that help them track and manage their expenses.
“As IBC grows, we continue to explore better ways to serve our customers with quality products and services,” stated Dennis Nixon, President and CEO of IBC. “Elan fulfills our needs and creates opportunities for improving delivery of these products with minimal resource requirements from our bank.”
“We are excited to partner with IBC to offer compelling credit card products to their customers,” said Jeff Chernivec, senior vice president and market development director at Elan Financial Services. “Banks like IBC require an issuing partner with the experience, commitment and most importantly, the stability to provide innovative products and best in class service to their customers. This partnership is truly a win-win for both of us.”
As a card issuing partner, Elan Financial Services is dedicated to serving financial institutions with best in class credit card products and rewards that meet the unique needs of every customer. Elan’s end-to-end solution also includes card servicing and marketing as well as branch support and sales incentives.
About International Bancshares
IBC Bank is a member of International Bancshares Corporation (NASDAQ: IBOC) a $12.2 billion multi-bank financial holding company headquartered in Laredo, Texas, with 278 facilities and 440 ATMs serving 107 communities in Texas and Oklahoma. More information is available at Visit us on our YouTube channel, IBCBankWeDoMore.
About Elan Financial Services
Elan Financial Services provides a complete range of processing and payments services, including credit card issuing, prepaid card solutions and ATM and debit card processing. Elan Financial Services is a leading payment card provider for over 2,000 partner financial institutions in 50 states. It provides transaction processing, terminal driving and the necessary monitoring and support services for over 27,000 ATMs nationwide, and supports more than 20 million ATM and debit cards. Elan also owns and operates the MoneyPass surcharge free ATM network. For more information call 800-343-7064, or visit

National Processing Company's Merchant Processing and Vantiv's Card Services Endorsed by Texas Bankers Association

CINCINNATI, Aug.  4, 2011 /PRNewswire/ -- Vantiv, LLC ("Vantiv") and National Processing Company (NPC), a Vantiv company, are pleased to announce that their merchant processing and card servicing programs have recently received an exclusive endorsement by the Texas Bankers Association (TBA) and its subsidiary, TBA Services Company.
Deeply rooted throughout Texas and across the nation, NPC has delivered electronic transaction processing, unique technology solutions, and an unparalleled culture of service to businesses and financial institutions for over 40 years.
"The TBA Services Company Board of Directors unanimously voted to extend the endorsement to Vantiv and NPC after a due diligence process that included seven other interested merchant and services providers," said Wanda Stevens, Vice President of the Texas Bankers Association. "Endorsement by the TBA signals that we fully trust this partner.  We are certain Vantiv and NPC will provide strong support and service to our banks and merchants while providing the best of class merchant program to our members."
Founded in 1885 and with 576 member banks today, the TBA represents approximately 85% of the FDIC-insured depository institutions operating in Texas; this comprises 95% of the assets in the state.  It is the leadership organization and principal advocate for all Texas banks with a mission to meet the growing needs of their members through education, information and advocacy.  The TBA represents both commercial bank charters and thrift charters, and the members have over 5,500 branch locations in Texas. The association is governed by a board of directors representing member banks of all asset sizes from across the state.
"We are proud to be the company chosen by TBA to earn this esteemed designation," said Adam Coyle, President, NPC.  "Our status as an endorsed partner will allow us to work with strategic financial industry leaders throughout Texas and deliver solutions that drive greater efficiencies for TBA members and their customers.  NPC is fully committed to this bold, new and exciting partnership."
Vantiv works with its clients to create processing solutions that help cultivate new revenue sources and build long-term client retention.  Merchant Services such as credit and debit card processing, gift card programs, check services, secure processing technology, and online back-office management, and others are included in the Vantiv product suite. Additionally, Card Servicing Programs such as credit and debit card processing, advisory services, ATM driving, fraud mitigation and prepaid solutions enable financial institutions to market and grow their portfolios.
"Vantiv and TBA are both advocates for our clients," said Royal Cole, President, Financial Institution Services, at Vantiv.  "We are excited to work together to deliver solutions that drive greater efficiencies for the TBA bank members and their customers."
About TBA Services Company
The TBA Services Company, Inc., known as TBASCO, is a wholly owned subsidiary of TBA. TBASCO's mission is to link Texasbanks with providers of quality products and services.  A TBASCO endorsement means completion of a lengthy investigative process by an eight-member board of directors, comprised of seven Texas bankers and the TBA president. TBASCO's reputation for integrity and thorough due diligence means bankers can trust and value the products and services awarded endorsement status. For more information about TBA please visit
About National Processing Company
Based in Louisville, Kentucky, with additional facilities in Houston, Texas and Chicago, Illinois, National Processing Company (NPC) is one of the largest providers of payment processing services exclusively focused on the small-to-medium merchant processing market.  NPC provides a wide range of payment processing services, from point-of-sale credit card and debit card processing to integrated e-commerce solutions.  NPC is a subsidiary of Vantiv, LLC.  Learn more at
About Vantiv
Vantiv, LLC is one of the largest providers of payment strategies and technology solutions for financial institutions and businesses worldwide. Formed in 1971 and most recently known as Fifth Third Processing Solutions, LLC, the Company builds strategic partnerships with its customers, helping them become more efficient, more secure and more successful.  Headquartered inCincinnati, Ohio, Vantiv, LLC is a joint venture between Advent International and Fifth Third Bank, a subsidiary of Fifth Third Bancorp (FITB).
Vantiv, LLC supports more than 400,000 merchant and financial institution locations and 12,000 ATMs in 46 states and 8 countries. The company processes more than 11.4 billion ATM and POS transactions and nearly $400 billion in debit and credit sales volume annually.  Its subsidiary, NPC, is the largest provider of payment processing services exclusively focused on the small-to-medium merchant processing market. According to the Nilson Report (March 2011), the Company is the largest PIN Debit U.S. acquirer and third largest U.S. merchant transaction acquirer ranked by general purpose transaction volume. For more information,
Lynn M. Rhoads, Senior Vice President
Communications Director
Glenda G. Monroe
Director, Partner Alliances and Marketing
Texas Bankers Association
(512) 472-8388, ext. 212

Global Payout to Develop New International Payment Platform with Tyburn Group

SAN DIEGOAug. 4, 2011 /PRNewswire/ -- Global Payout, Inc. (OTC Pink: GOHE) and Tyburn Group, Inc., San Francisco, have reached an agreement to co-develop an international eWallet payment solution.  The payment platform will be a license from RS2 Software, Frankfurt Germany, and will be developed based on Global Payout's specifications.  Under the initial agreement, Global Payout will tender common stock to Tyburn and Tyburn will pay RS2 for the initial license.  
"This is a significant development for our company – we're transitioning from our role as an ISO (Independent Sales Organization) to being a global service provider," stated Jim Hancock, Global Payout Chief Executive Officer.  "We're positioning the company to have long-term viability, ready to meet the challenges and demands of the global marketplace."
The international platform ("eWallet") will enable multi-national companies to pay its members or employees in foreign countries through a web-based portal in several currencies.  eWallet account-holders will be able to transfer money from their online account or by cell-phone to bank accounts or prepaid debit cards.   In addition, the new platform will significantly increase revenue and will replace the existing vendor platform relationships.  The company anticipates a January 2012 launch.  Chris Haigh, Chief Executive Officer at Tyburn Group, added, "The joint venture with Global Payout expands Tyburn's international product offering and we look forward to implementing payment solutions for our multi-national clients."
About RS2 Software, PLC.:
RS2 Software PLC,, is a global provider of card payment solutions, IT consultancy and related services to international and domestic banks, service providers, retailers and other financial organizations. For more than 20 years RS2 Software PLC has focused on development and implementation card payment solutions under the trade name BankWORKS®. RS2 clients have received full attention from the RS2 in this specialized field of data and transaction processing. Benefiting from continuous upgrades of the BankWORKS® product portfolio in line with market changes and opportunities, mandates from card organizations, as well as using new technology, RS2 clients are well positioned to increase their market share and meet their business objectives.
About Tyburn Group, Inc.:
The Tyburn Group,, located in San Francisco California, has been creating and delivering prepaid card programs using the latest technology for their global customers since 2007.  Tyburn has banking relationships and processing services, as well as the understanding of all regulations and requirements to get prepaid debit card programs to market.
About Global Payout, Inc.:
Global Payout, Inc.,, headquartered in San Diego, California, is an international independent sales organization offering multi-national companies electronic payment and prepaid debit card solutions. Through Global Payout's processors and solution providers the company offers an international payment platform allowing accountholders to move money to personal bank accounts in over 200 countries. In addition, the company provides for U.S. and international debit cards, allowing accountholders without bank accounts to access funds worldwide. As a program manager and reseller, Global, is a provider of prepaid debit cards in the U.S. for payroll and general spend programs.
Joe SeboChief Financial Officer
Global Payout, Inc.

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