Wednesday, September 28, 2011

Google, PayPal, Citi and Visa lead payments debate at Open Mobile Summit

The Open Mobile Summit 2011

SAN FRANCISCO--(BUSINESS WIRE)--With Google Wallet launching this week, the battle for control of the mobile wallet is entering a new phase. No surprise then that ‘Wallet Wars’ is one of the lead sessions at the industry’s annual strategic event, the Open Mobile Summit, taking place in San Francisco, November 2-4.
“This is a massive market opportunity – and one that operators, financial institutions and Internet players are fighting to play a part in.”
Google’s VP mobile wallet Osama Bedier, will join Dickson Chu Managing Director Global Enterprise Payments at Citibank, Bill Gadga Global Head of Mobile at Visa – and David Marcus, the new VP of mobile at PayPal.
The following day, John Donahoe CEO of eBay, the commerce giant which owns PayPal, will be Keynoting the event.
“The race to enable mobile payments and NFC – particularly at the point of sale – is on” said Robin Batt, founder and executive producer “This is a massive market opportunity – and one that operators, financial institutions and Internet players are fighting to play a part in.”
“It’s a complex space, with a number of different competing ecosystems – I’m delighted to have such a heavyweight line-up of major contenders speaking at the Open Mobile Summit this year ”said Batt.“By November we should get a good feel for who’s in a good position to lead this market going forwards”
A growing number of key retailers and ecommerce companies are also participating in The Open Mobile Summit this year – in particular, The Gap, Choice Hotels, 7 Eleven and HSN join the ‘Future of mobile shopping’ panel later that same day. Other sessions explore the future of mobile commerce at the intersection of mobile, social and location – with app market leaders from Loopt, SCVNGR, Booyah and Layar.
Overall, more than 800 senior strategists from across converging mobile, Internet, media and commerce will gather this year for the 4thannual Open Mobile Summit, happening in San Francisco this November 2-4th.
For more information, and to register for the conference, follow this link:
About Open Mobile Media Ltd
The Open Mobile Summit is produced by Open Mobile Media Ltd, an independent group founded in 2008 by communications industry consultant Robin Batt.

TI partner introduces industry's first point-of-sale reference design with PCI compliance and NFC capability

Solution, based on TI's ARM® Cortex-A8 microprocessor, reduces development time by meeting Payment Card Industry PIN Transaction Security standards for retail payment card transactions

DALLASSept. 28, 2011 /PRNewswire/ -- Designers in the retail electronic transaction space can now quickly and easily develop cutting-edge portable point-of-sale applications that incorporate secure payment card processing including contactless near field communications (NFC) capabilities.  This new, low-cost, turnkey electronic point-of-sale (EPOS) solution from ViewAt, a Texas Instruments Incorporated (TI) (NYSE: TXN) partner, protects intellectual property and financial transactions while reducing development time for these latest retail transaction products by as much as a year.  Following a modular design approach, the EPOS solution provides flexibility to customers seeking to differentiate products including:
  • Countertop payment terminal
  • Mobile payment terminal with wireless support
  • Handheld data terminals with barcode scanning
  • Full kiosk with barcode scanning, payment and wireless support

Complete EPOS solution offers integrated features, security, NFC and design flexibility:
  • Performance and integration, including 1 GHz of fast performance with TI's AM3715 ARM® Cortex-A8 microprocessor, to enable fluid, seamless graphics and applications with the integrated, interactive touch screen.  The solution also integrates a printer, Ethernet, cellular support and mobile connectivity (Bluetooth® and Wi-Fi technologies).
  • NFC capabilities provided by TI's TRF7970A analog front-end (AFE) transceiver expand the electronic transaction potential with increased wireless connection options for transaction speed and accuracy while reducing staffing requirements.  
  • Security protects intellectual property and financial transactions. The EPOS reference design incorporates a third-party hardware security controller for secure boot and tamper protection.  Software development for financial transaction security saves developers as much as a year of time by offering pre-evaluation for Payment Card Industry (PCI) Personal Identification Number (PIN) Transaction Security (PTS) standards through a PCI-accredited lab.  This pre-evaluation by RFI Global in the United Kingdom enables software developers to obtain PCI-certification quickly and get their products to market faster.
  • A full complement of TI signal chain, power management, ESD protection and logic devices to support functions like audio, battery charging, motor and touch-screen control.
  • Popular operating system support leverages existing software code and expertise, further reducing time to market. Systems include Linux, Android and Windows Compact Embedded.
  • Feature additions enable further product differentiation and are easy with other pin-to-pin and software-compatible TI devices (i.e., adding video with a TI DaVinci™ digital media processor).

To order this product or obtain more information, please visit
About ViewAt
ViewAt is a leading point-of-sale (POS) POS and personal identification number (PIN) pad design solutions provider and vendor in China.  ViewAt designs, develops and manufactures EFT POS terminals and PIN pads, providing both hardware and software development with Europay, MasterCard and Visa (EMV) and Payment Card Industry (PCI) consulting services. For more information, visit
About Texas Instruments
Texas Instruments semiconductor innovations help 80,000 customers unlock the possibilities of the world as it could be – smarter, safer, greener, healthier and more fun.  Our commitment to building a better future is ingrained in everything we do – from the responsible manufacturing of our semiconductors, to caring for our employees, to giving back inside our communities.  This is just the beginning of our story.  Learn more at
DaVinci is a trademark of Texas Instruments.  All other trademarks and registered trademarks belong to their respective owners.
SOURCE Texas Instruments

Mitek Systems Announces MitekONE™: Enterprise Deposit Platform

Single platform for all check deposits drives operational efficiencies, offers advanced duplicate detection to better manage risk

SAN DIEGOSept. 27, 2011 /PRNewswire/ -- Mitek Systems, Inc. (NASDAQ: MITK;, the leader in mobile-imaging solutions, today announced the MitekONE™: Enterprise Deposit Platform, a major advance that offers financial institutions and solution providers a highly accurate and secure single platform they can use to manage all deposits of checks, whether via smartphones, tablets, home flatbed scanners, tellers or ATMs.
MitekONE is designed to help financial institutions achieve unprecedented operational efficiencies across an organization via a single solution that addresses all back-office processing, remote deposit capture (RDC) and mobile deposits of customers' checks.
The company will be showcasing MitekONE for the first time at the RDC Summit 2011 conference this week at the Omni Orlando Champions-Gate conference center near Orlando, Fla.
MitekONE's duplicate mobile deposit detection is a fraud-management mechanism developed to dramatically improve the ability of banks and partners to detect attempted duplicate mobile or RDC deposits of checks, both within banks and across institutions.  Mitek will be offering this capability through a strategic relationship with one of the nation's leading fraud-prevention providers.  
In addition, MitekONE gives financial institutions the ability to better manage deposits by identifying types of checks so they can apply appropriate business rules for personal and business checks versus other payment types, such as money orders and cashier checks.
The enterprise-wide product addresses concerns at some financial institutions over fraudulent attempts to deposit the same check through multiple banks' mobile deposit and RDC solutions.  By identifying deposits that have already been recorded as having been imaged, the aim is to identify and take action on any attempts of multiple deposits of the same check.
"As an all-in-one multichannel, multi-bank fraud detection capability, MitekONE is clearly a breakthrough product for the financial services industry," said Mitek President and CEO James B. DeBello.  "Banks love what we have done with Mobile Deposit® and they are coming back to see how we can help them with other check-capture challenges.  
"MitekONE solves one of the last lingering concerns banks have had over adopting a mobile-imaging strategy and we're excited about that," he added.  "This and all our products stem from the thought leadership we have developed over the years in our patented mobile-imaging technology."
About Mitek Systems
Mitek Systems (NASDAQ: MITK) is the leader in mobile-imaging solutions, achieved through 25 years of R & D, patented technology and extensive experience in extractive imaging.  The company invented and patented leading software solutions that allow consumers to use the cameras on their smartphones and tablets to deposit checks, pay bills, get quotes and transfer balances ... all by just snapping photos of documents.  Offering outstanding customer experience and convenience while driving operational efficiencies, Mitek Systems' solutions enable organizations across industries to differentiate themselves from their competitors, attract and retain customers and ultimately increase their revenue and profitability.  Current products include Mobile Deposit®, Mobile Photo Bill Pay™, Mobile Balance Transfer™, Mobile ACH Enrollments™, Mobile Receipt™ and the Mobile Imaging Cloud™ platform.
For more information about Mitek Systems, contact the company at 858-503-7810 or visit

Payment Card Security Compliance Remains Problematic, Putting Confidential Consumer Information at Risk, Verizon Report Says

Noncompliance Is Linked to Increased Breach Risk

NEW YORKSept. 28, 2011 /PRNewswire/ -- For the second year in a row, a Verizon report has found that too many businesses are struggling to comply with payment card security standards, putting consumers' confidential information at risk.
According to the Verizon Payment Card Industry Compliance Report, most businesses that accept credit or debit cards, or both, continue to struggle to achieve and maintain compliance with the Payment Card Industry Data Security Standard (PCI DSS).  As a result, they are at greater risk of losing confidential customer information and falling victim to credit-card fraud.  
Businesses are failing to maintain compliance even though they face steep penalties, including fines and increased transaction fees from the credit card brands.  Businesses also now face pressure from their partners and customers to demonstrate continued compliance.
In addition to analyzing the overall current state of compliance with the PCI DSS, the report examines how well organizations comply with the 12 specific PCI requirements and provides recommendations that organizations can implement to help them earn and maintain compliance.
"We had hoped to see more organizations complying with the PCI standard, since we believe that compliance will ultimately improve the security posture of organizations and in all likelihood lead to fewer breaches," said Wade Baker, director of risk intelligence, Verizon.  "By reviewing this report, organizations can see where to focus their efforts and implement our recommendations for helping to accelerate PCI compliance.  Our end goal is a safer credit-card environment for consumers and businesses."
(NOTE: Additional resources supporting the report are available, including an audio podcast and high-resolution charts and graphs.)
PCI Report Findings Based on Actual PCI Assessments, Data Breaches
The report is based on findings from more than 100 PCI DSS assessments conducted by Verizon's team of PCI Qualified Security Assessors in 2010, as well as data gathered by Verizon's Investigative Response group while investigating real-world payment card data breaches.  Additionally, the Verizon Risk Intelligence team overlaid the assessment findings with data-breach cases from the 2011 Verizon Data Breach Investigations Report, resulting in a richer, more thorough data set.
The assessments include data from organizations based in the U.S., Europe and Asia, representing for the first time the global nature of the PCI standard.
Key Findings
Top findings from the 2011 Verizon Payment Card Industry Compliance Report include:  
  • While the compliance situation has neither worsened nor improved, it is still "disappointing." Only 21 percent of organizations were fully compliant during the initial audit.  The report notes that the difficulty in achieving compliance, along with overconfidence, complacency and the need to focus on other compliance and security issues are among the possible reasons for the widespread PCI noncompliance.
  • Lack of PCI compliance continues to be linked to data breaches.  The report demonstrated again this year that breached organizations are more likely not to be PCI compliant and are more likely to suffer from identity theft and fraud issues.
  • Organizations struggle with key PCI requirements.  Organizations struggled the most to comply with requirements 3 (protect stored cardholder date), 10 (track and monitor access), 11 (regularly test systems and processes), and 12 (maintain security policies), all of which are directly linked to protecting cardholder data.
  • Failure to prioritize compliance efforts often means high-risk security threats are ignored.  Launched in 2009, thePrioritized Approach was created to help organizations identify and reduce risk to cardholder data and to ease the annual PCI process. The report found that rather than using a risk-based approach to PCI compliance, organizations instead rely on the PCI DSS for guidance.  As a result, many organizations are ignoring security threats with the highest risk and potential for the largest negative impacts.  
  • PCI standard offers protection against the most common attack methods.  Malware and hacking are the most predominant methods used to gain access to cardholder data.   Several overlapping PCI requirements are aimed at protecting against these attack methods.  

Recommendations for Meeting Compliance
Based on extensive analysis, Verizon offers the following recommendations to help organizations meet their PCI compliance goals:
  • Treat compliance as an everyday, ongoing process. Compliance requires continuous adherence to the standard. This means a daily log review, weekly file-integrity monitoring, quarterly vulnerability scanning and annual penetration testing.  To achieve this, Verizon recommends that an internal PCI "champion" ensure that compliance becomes part of daily business activities.
  • Self-validate very carefully – or not at all.  Level 1 and 2 merchants -- who process the highest volumes of cardholder transactions --are allowed to assess themselves against the standard.  Due to the numerous issues and conflicts of interest this can cause, Verizon highly recommends that an objective third party validate the scope of the assessment or perform the testing.
  • Prepare to have the bar raised.   In October 2010, the PCI Security Standards Council announced PCI DSS version 2.0.  This version requires a more stringent executive summary and validation of methodology for scope definition.  Organizations, many of which are having severe issues complying with the existing standards, need to quickly get ready for the new version.

Additional findings and recommendations are available in the full report, which can be downloaded at addition to the report, readers can access all report resources by visiting theVerizon PCI Report Resource Center.  
About Verizon
Verizon Communications Inc. (NYSE, NASDAQ: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers.  Verizon Wireless operates America's most reliable wireless network, with more than 106 million total connections nationwide.  Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500.  A Dow 30 company, Verizon employs a diverse workforce of nearly 196,000 and last year generated consolidated revenues of $106.6 billion.  For more information, visit  
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high-quality video and images, and other information are available at Verizon's News Center on the World Wide Web  To receive news releases by email, visit the News Center and register for customized automatic delivery of Verizon news releases.

NCR and Sparkfly to Help Merchants Drive Consumer Engagement

Integration of Sparkfly’s platform to deliver multichannel digital promotions for Radiant point-of-sale software
DULUTH, Ga.--(BUSINESS WIRE)--NCR Corporation (NYSE: NCR) today announced that it has entered into a strategic agreement to integrate Sparkfly’s mobile marketing platform with Radiant point-of-sale software, including Aloha. Sparkfly’s personalized smartphone application enables the delivery and redemption of digital offers and discounts at the point-of-sale.
“Sparkfly’s ability to enable personalized mobile promotions makes them an ideal partner to provide businesses with the best tools for building connections with consumers.”
This integration will provide customers with the ability to grow incremental revenue, enhance cross-selling capabilities and drive consumer engagement across multiple channels, such as mobile and at the point of service.
“While many mobile commerce and digital promotions companies are entering the market, the true value for our customers is the integration of these platforms with point-of-sale transactional data,” says Andy Heyman, senior vice president, NCR Hospitality and Specialty Retail. “Sparkfly’s ability to enable personalized mobile promotions makes them an ideal partner to provide businesses with the best tools for building connections with consumers.”
Sparkfly’s digital offer redemption capability is especially appealing to CPG companies, as it provides brands with a unique resource to engage individual consumers with targeted promotions based on SKU-level details of their actual purchases.
“The power of our Sparkfly platform comes in rewarding consumers based on purchase frequency or volume and targeting offers based on purchase behavior,” says Catherine Tabor, chief executive officer at Sparkfly. “Users of Radiant point-of-sale software will benefit from the security and simplicity of direct point of sale redemption of offers, making it easy to get closer to the consumer.”
NCR acquired Radiant Systems, Inc, in August 2011, positioning the company as NCR’s Hospitality and Specialty Retail industry line of business and market leader with more than 100,000 installations worldwide. Customers include leading brands and venues in the restaurant and food service, sports and entertainment, petroleum and convenience, and specialty retail markets.
About NCR Corporation
NCR Corporation (NYSE: NCR) is a global technology company leading how the world connects, interacts and transacts with business. NCR’s assisted- and self-service solutions and comprehensive support services address the needs of retail, financial, travel, healthcare, hospitality, entertainment, gaming, public sector, telecom carrier and equipment organizations in more than 100 countries. NCR ( is headquartered in Duluth, Georgia. For more information on Radiant point-of-sale software and solutions, please
About Sparkfly
Founded in 2001 in Atlanta, Georgia, Sparkly is a leading provider of solutions that capture consumer purchase data and provide immediately redeemable consumer offers. It is the only solution that permits the creation and distribution of personalized offers via the web or mobile devices, redeemable at the point of sale. This patented technology delivers highly efficient and sophisticated promotional campaigns using existing POS systems without additional in-store hardware or software. For more information about Sparkfly,

Tabbedout Certified on Focus POS

Leading POS vendor certifies mobile payment solution that lets consumers open, view and pay tabs with a smartphone
AUSTIN, Texas--(BUSINESS WIRE)--Tabbedout, the secure and convenient way to open, view and pay a tab with a smartphone, is now certified on Focus POS, a leading developer of hospitality POS (point of sale) software. The certification means more restaurant and bar locations across the country will now offer a mobile payment option, making mobile payments for consumers a reality today.
“Integrating with a POS leader like Focus POS allows us to offer our mobile payment solution to a wider network of bars and restaurants nationwide”
“Our goal is to create a platform that enables merchants to incorporate the latest technologies and efficiencies without a lot of hassle,” said Mike Hamm, chief operating officer for Focus POS. “With Tabbedout, our merchants can spend less time closing tabs and more time serving customers.”
The free Tabbedout app for iPhone and Android allows patrons to open a tab with their mobile phone, view their tab in real-time and pay the tab anytime, anywhere. Tabbedout’s mobile payment solution integrates directly with the merchant’s POS and does not require additional hardware. This enables Focus POS merchants to serve more customers during peak business hours, eliminate credit card handling issues and enhance overall customer experience. Consumers are safe from the threat of lost or stolen credit cards, can pay their tab at their own pace and share their social experiences with friends via Facebook, Twitter and Foursquare, all within the application.
“Integrating with a POS leader like Focus POS allows us to offer our mobile payment solution to a wider network of bars and restaurants nationwide,” said Dave Lemley, Tabbedout CTO and Co-founder. “Our goal is to make mobile payment an everyday simple and secure process for the consumer that generates additional revenue for Tabbedout venues.”
About Focus POS
Focus POS Systems is a Texas-based company with a rich heritage of delivering innovative software technology to the hospitality industry with thousands of installations since 1990. Our philosophy is simple: create a smart, uncomplicated solution that positions our customers for profitability and competitive advantage. Hospitality is one area that remains our prime focus; thereby assuring our customers the most robust and reliable product for success. For more information, visit: or to learn more about becoming a Focus POS partner.
About Tabbedout
Tabbedout is the mobile payment solution that enables consumers to open, view and pay a bar or restaurant tab with their phone. Tabbedout makes mobile payment a simple and secure process that is widely available, so bars and restaurants can spend more time with their customers. The free Tabbedout mobile app for iPhone and Android lets consumers open a tab with their mobile phone, view their tab in real-time and pay the tab anytime, anywhere, giving them control over how and when they pay. For more information, visit: or contact to learn more about becoming a Tabbedout partner.

Isobar Announces Winners of Isobar Create 48 NFC “Hackathon”; Event Marks Industry’s First and Largest NFC Competition of its Kind in the US

11 Teams, 40 Designers & Developers Compete to Define the Future of NFC Technology in 48 Hours
BOSTON--(BUSINESS WIRE)--Isobar, a global communications agency, today announced the winners of Isobar Create 48, the first and largest “hackathon” of its kind in the US to explore the Near Field Communication (NFC) technology inside next generation consumer devices like the Google Nexus S and Nokia N9. The event, which challenged participants to push the envelop on NFC technology and find creative uses for this exciting new technology, drew more than 40 designers and developers and produced nine working prototypes in 48 hours.
“Isobar is an agency dedicated to delivering ‘like never before’ solutions to our clients. It’s what we do. It’s why we are here”
Held in downtown Boston’s Innovation District last week, the event featured experts from Google, Nokia, Tieto, ICS, the MIT Enterprise Forum and NFC startup Tagstand, who all showed examples of applications and demonstrated how to develop for NFC. After two days of inspiring competition, participants submitted their applications to a panel of expert judges from Google, Nokia, WHERE, Tieto and Isobar. Judges voted on the top three “creations” based on the following criteria: 1) Impact on a brand or a business, 2) Impact on consumers, 3) Commercial viability & market potential, and 4) The ‘like never before’ factor (i.e., its ability to change they way we see or experience the world).
The Isobar Create 48 top trophy went to team “Beer Pants Meeting,” whose members each took home a new Google Nexus S phone for developing “OnTap.” The “OnTap” Android application enables bar and restaurant patrons to use their mobile phone to view a menu, place an order, pay for it, then tap an NFC tag to tell the waiter their location. The application also has an NFC social couponing aspect – an amazing function that allows consumers to pay-forward and “plus-up” discounts to their friends anytime with a tap of their NFC phones – and each time the coupon is shared, the deal improves for everyone.
Second and third place went to “The Parking App” by Team “Bazinga” and “BarTap” by Team “WHERE”, respectively. The “Parking App” is designed to make parking “suck less.” Using an NFC enabled mobile device, the app locates garages near you, provides details regarding price, availability and directions, and enables you to tap your phone to the NFC code at the garage entrance gate to check in. The app also helps you remember where you parked, provides reminders for when a garage closes, helps quickly validate your parking at retail partner NFC kiosks, and lets you choose from a variety of payment options. “BarTap” by Team “WHERE” is an HTML5 based web application platform that helps restaurateurs quickly and more efficiently manage barroom rush hour traffic. When a patron walks into a busy restaurant and taps their NFC enabled phone to an NFC tagged coaster or table, they are presented with an option to open a bar tab and pay with PayPal. The patron selects and submits from a fully featured menu as bartenders fulfill orders from a tablet-based managed back-end queue.
Other groundbreaking prototypes included “TimeTap,” which leverages NFC technology to make time tracking easy and accurate, alleviating a huge tension in time-based businesses like advertising; “InfoSwap,” which enables an NFC-like interaction between NFC-enabled devices and devices like the iPhone 4 that do not currently have NFC, using a combination of an NFC tag and push alerts to seamlessly complete the receipt; and “Confluence,” which establishes cross platform NFC communication between NFC-enabled Symbian, MeeGo and Android devices, making it seamless to users no matter what OS their device is using.
A video with more details about the event is available at:
“Isobar is an agency dedicated to delivering ‘like never before’ solutions to our clients. It’s what we do. It’s why we are here,” said Michael Nicholas, chief strategy officer at Isobar. “Isobar Create 48 is an external celebration of ‘like never before,’ giving developers, creators and makers a free and open place to explore and build something entirely new. We were blown away by what the teams were able to create in such a short timeframe. Their applications took typical, everyday experiences and completely reinvented them, enabling consumers to make transactions, exchange content and connect like never before.”
Isobar Create 48 took place in Boston and ran from 3:00 p.m. Tuesday, September 13, to 3:00 p.m. on Thursday, September 15th. Awards were given out at the Isobar Create 48 Awards Celebration and After Party on the evening of September 15, 2011.
About Isobar
Isobar is a global agency that brings people and brands together like never before. We fuse creative thinking with technology know-how to uncover the best ideas and execute them across any platform or channel anywhere in the world. Our unique combination of creatives and creators ensures the best ideas never end up on the cutting room floor, empowering us to consistently deliver innovative and intensely relevant brand experiences for the world's best brands. With locations in Boston, New York and San Francisco, Isobar US is an Aegis Media Group Company and part of the global Isobar network of over 3,200 people in 32 markets. For more information, please visit

INSIDE Secure Names Laurent Sanchez VP Applications and Ecosystems

Industry Veteran to Focus on Extending Company’s Leadership in NFC Solutions

REDWOOD CITY, Calif.--(BUSINESS WIRE)--INSIDE Secure, a leader in semiconductor solutions for secure transactions, today announced it has named Laurent Sanchez as vice president of applications and ecosystems. Mr. Sanchez’s broad background in chip technologies, electronic payment, and mobile software brings valuable industry relationships to INSIDE’s growing ecosystem of mobile, NFC, and payment partners.
“I am pleased to join INSIDE and help reinforce the company’s leadership position in the larger NFC ecosystem.”
“Building successful ecosystems demands strong industry partnerships with a wide range of companies and providers of diverse technologies for INSIDE,” said Didier Serra, executive vice president, sales, and general manager for the U.S. “Laurent’s experience across all phases of the chip payment and mobile device industries is ideal. We are pleased to welcome him to the team.”
Mr. Sanchez’s responsibilities will be to evangelize open NFC technologies, establish relationships and launch strategic initiatives with key industry partners in the payment and mobile ecosystems, as well as lead business development activities for INSIDE’s applications and services.
“As NFC enters the mainstream, there is a wealth of opportunities for application developers and service providers to bring innovative ideas into our lives,” said Laurent Sanchez. “I am pleased to join INSIDE and help reinforce the company’s leadership position in the larger NFC ecosystem.”
Prior to INSIDE, Mr. Sanchez directed strategic initiatives, partnerships, and application ecosystems for Audience, a pioneer in intelligent voice processing technology. There he was responsible for developing the company’s application business and creating a community of third-party developers.
Mr. Sanchez’s previous experience was at Access, a mobile Internet innovator, where he served as director of alliances and business development. In this role, he expanded the company’s global relationships with content, web, and media companies. Before Access, Mr. Sanchez held product management roles at PalmSource and Palm where he drove the development of pioneering electronic payment and card-reading solutions for mobile devices, and led major releases of the Palm operating system. He started his career 15 years ago at VeriFone where he developed one of the first electronic purse applications. Mr. Sanchez subsequently joined Gemplus where he played a role in the first mass deployment of chip payment cards in the U.S. as part of the company’s Smart VISA program.
Mr. Sanchez holds a master of business administration degree from the Graduate School of Management in Aix en Provence, and a master’s degree in electronics and computer science from INSA, both in France.
About INSIDE Secure
INSIDE Secure is a leading designer, developer and supplier of semiconductors, embedded software and platforms for secure transactions and digital security. INSIDE’s mobile NFC, secure payment, and digital security products provide security for a wide range of information processing, storage and transmission applications. The company’s customers are found in a wide range of markets including mobile payment, identification documents, access control, transit, electronic device manufacturing, pay television and mobile service operators. As a fabless company, INSIDE shipped nearly 400 million semiconductors in 2010, ranking it among the leaders in most of its markets. For more information visit

ACS, A Xerox Company, Speeds Up How Riders of New Jersey’s Transit System Pay for Travel

DALLAS--(BUSINESS WIRE)--Building on a successful first-of-its-kind program, NJ TRANSIT riders can now simply wave or tap their credit or debit cards on twice as many bus routes, including buses traveling to different zones in the system.
“This innovative ‘open fare’ payment system makes New Jersey a leader in giving passengers the most convenient payment options which should result in increased ridership for New Jersey Transit”
This “contactless” payment system is now available on buses covering six different routes, including travel into New York with payments based on distance or “zones” travelled as part of the program.
ACS, A Xerox Company, (NYSE: XRX) and NJ TRANSIT first launched a three route pilot in 2010. The new payment system eliminates the need for waiting in line at ticket machines and counters, allowing riders to pay and board faster.
ACS installed the system and will maintain and service all card readers, terminals and equipment, as well as host the payment platform to process transactions. ACS also handles financial management for this project.
“This innovative ‘open fare’ payment system makes New Jersey a leader in giving passengers the most convenient payment options which should result in increased ridership for New Jersey Transit,” said Dave Amoriell, group president, ACS Transportation Solutions.
NJ TRANSIT is also evaluating using a unique payment system for their customers with disabilities. They will be working with a select number of riders to demonstrate the viability of a rubberized wristband with an embedded contactless payment chip. These customers can wave or tap their PayPass-enabled wristband at bus readers and airport faregates for convenient access, eliminating the need to handle a card or device such as a key fob to pay for their fares.
Customers who do not have a contactless bank card can get one at a self-service kiosk at the Hoboken Station in New Jersey that dispenses, reloads and provides balance information for a MasterCard PayPass-enabled card. This prepaid debit card can be used instantly at all NJ TRANSIT open payment points of entry including on two bus routes to and from Hoboken. Customers need only pay for the card at the kiosk and are not required to provide any personal information. They can also add value to their cards at numerous retail locations if they choose to register their card.
Also, at Penn Station in New York City, NJ TRANSIT riders can now pay with a wave or tap of their card at ticket vending machines and ticket windows. NJ TRANSIT also plans to work with ACS to expand this payment option at the Port Authority Bus Terminal.
Contactless cards will continue to be accepted at faregates at the Newark Liberty International Airport and three bus routes (6, 80, 87), as well as the three new routes (43, 81, 120).
About Xerox
Xerox Corporation is a $22 billion leading global enterprise for business process and document management. Through its broad portfolio of technology and services, Xerox provides the essential back-office support that clears the way for clients to focus on what they do best: their real business. Headquartered in Norwalk, Conn., Xerox provides leading-edge document technology, services, software andgenuine Xerox supplies for graphic communication and office printing environments of any size. Through ACS, A Xerox Company, which Xerox acquired in February 2010, Xerox also offers extensive business process outsourcing and IT outsourcing services, including data processing, HR benefits management, finance support, and customer relationship management services for commercial and government organizations worldwide. The 134,000 people of Xerox serve clients in more than 160 countries. For more information, visit or For investor information, visit

Euronet and wipit to Launch Mobile Payment Service Targeting the Cash-Preferred Consumer

LEAWOOD, Kan.--(BUSINESS WIRE)--Euronet Worldwide, Inc. (NASDAQ: EEFT), a leading global electronic payments provider and distributor, today announced the upcoming launch of “wipit,” a mobile payment service available via Google Android or Apple iOS smart phone applications. The service provides consumers a single-click purchase experience for mobile ecommerce purchases via wipit accounts, which are funded with prepaid cash or a credit card. While users can choose to link a credit card as their account payment method, the offering is focused on enabling cash-preferred consumers to participate in mobile payments and in-app purchases.
“Prepaid gift cards and credit cards do not address all the needs of the smart phone application user”
With the explosion of smart phone applications and the rise of mobile commerce transactions, particularly the growth of mobile payments within a smartphone application, there is a need for cash-preferred customers to have a convenient payment method.
“Prepaid gift cards and credit cards do not address all the needs of the smart phone application user,” said Kevin Caponecchi, President of Euronet Worldwide. “Cash-preferred consumers need more flexibility and convenience in their mobile payment options, and wipit addresses those needs.”
As part of a strategic partnership, Euronet entered into a commercial processing relationship with, and an investment in, Wipit, Inc. To take advantage of the unique cash-based service, consumers would download the wipit mobile application, establish their account either via their handset or on and utilize the store locator to find a convenient Euronet-enabled retail location to add funds to their account. The funds are immediately available to the consumer to make in-app mobile ecommerce purchases.
Merchants and developers who accept wipit’s payment option on their mobile application or ecommerce website open a new avenue for additional sales. The solution provides developers a method of integrating a smartphone-optimized, single-click payment system into their Android or iOS mobile applications. Wipit, Inc. believes that developers will play a key role in driving innovation and mobile app revenue opportunities in the next phase of mobile commerce growth and has created a developer-friendly integration spec.
“The adoption rate of smart phones in the prepaid mobile market is significant and will continue to expand in the future. Unfortunately, without a cash payment option, the underbanked or cash-preferred consumer doesn’t have access to many features traditionally available only through payment via a credit card. wipit is the answer that cash consumers are looking for,” said Richard Kang, CEO of Wipit, Inc. “Euronet provides us with payment expertise, prepaid back office processing capabilities, and a ubiquitous nationwide load network. We are confident in the partner we’ve chosen to help us launch the wipit product, and we know the prepaid consumer will get a convenient, reliable and trusted service that opens up the mobile app experience because of this partnership.”
Developers and merchants should contact wipit at to sign up for the service. wipit will be exhibiting at the upcoming AnDevCon Android Developer Conference in November 2011.
About Euronet Worldwide, Inc.
Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, consumer money transfer and bill payment services, and electronic distribution for prepaid mobile phone time and other prepaid products. Euronet's global payment network is extensive - including 12,058 ATMs, approximately 53,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 33 countries; card software solutions; a prepaid processing network of approximately 588,000 POS terminals at approximately 276,000 retailer locations in 29 countries; and a consumer-to-consumer money transfer network of approximately 133,000 locations serving 133 countries. With corporate headquarters in Leawood, Kansas, USA, and 44 worldwide offices, Euronet serves clients in approximately 150 countries. For more information, please visit the Company's website at
About Wipit, Inc.
Wipit, Inc. is a Southern California headquartered company founded to provide software-based financial services solutions for the cash-preferred customer, developers and merchants globally. The company is managed and advised by entrepreneurs and executives in the financial services and wireless telecommunications industry, including founding team members of leading wireless carriers. For more information, visit

USA Technologies Reports Record Full Year and Fourth Quarter Revenues

Connections Increase 45% During Fiscal 2011 to 119,000; License and Transaction Revenue Up 72% to a Record $5 Million for Three Months Ended June 30, 2011 Compared to Similar Quarter a Year Ago
MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (NASDAQ: USAT), a leader of wireless, cashless payment and M2M telemetry solutions for small-ticket, self-serve retailing industries, today reported record revenues for the full fiscal year and fourth quarter ended June 30, 2011.
“Reconciliation of GAAP Net Earnings to Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization Expense (Adjusted EBITDA)”
Record Revenues for Fiscal Year 2011
Total Revenues increased approximately 45% to $22.9 million for the fiscal year ended June 30, 2011, compared to $15.8 million for the prior fiscal year with gross profit increasing approximately 57% to $7.7 million from $4.9 million last fiscal year. For the year, gross profit margins expanded to 34% from 31% in fiscal 2010, supported in large part by an improvement in gross profits as a result of increased activation fees related to the JumpStart program. Also contributing to this was an improvement in the profitability of recurring revenues from license and transaction fees. For the 2011 fiscal year, selling, general and administrative (SG&A) expenses were reduced by approximately 23% to $11.4 million, compared to the 2010 fiscal year of $14.9 million.
Net loss for fiscal year 2011 improved to a $6.5 million net loss (including approximately $4.6 million of non-cash charges) compared to an $11.6 million net loss (including approximately $2.0 million of non-cash charges) for the 2010 fiscal year, a $5.1 million reduction or approximate 44% improvement. This improvement was driven by the increase in revenues and gross profit, and decreases in SG&A expenses described above. Net loss per share applicable to common shares was $0.26 for fiscal year 2011 compared to a loss of $0.55 per common share for fiscal year 2010.
Adjusted EBITDA loss for fiscal year 2011 improved to a loss of $2.2 million compared to $9.6 million for fiscal year 2010, an improvement of $7.4 million or approximately 77%. A reconciliation of net loss to Adjusted EBITDA loss is presented below.
As of June 30, 2011, the Company had approximately 119,000 connections, compared to approximately 82,000 as of June 30, 2010, a 45% year-over-year increase, while customer count increased approximately 83% from approximately 1,050 customers at June 30, 2010 to approximately 1,925 customers at June 30, 2011. The Company announced on August 18, 2011 that it had surpassed this June 30, 2011 number by 4,000 during July 2011 bringing the most recent tally to 123,000.
We have recently been notified by our credit and debit card processor that effective October 1, 2011, Visa and MasterCard will significantly raise their interchange fees for small-ticket debit card transactions issued by regulated banks. The rates would increase from 1.55% of a transaction plus 4 cents, to 0.5% of a transaction plus 22 cents. The Company intends to largely or fully mitigate the impact of this rate increase and is working in conjunction with the card associations, its card processors and customers to consider various alternatives.
“Fiscal 2011 may be remembered as the inflection point when the small ticket, self-service retail market recognized the appeal of cashless payments, and USA Technologies is capitalizing on this rising demand with the market’s only one-stop shop, end-to-end cashless-wireless solution,” said George Jensen, Chairman and CEO of USA Technologies. “In addition to offering the industry’s most comprehensive solution, we have implemented a number of programs designed to accelerate our growth, with our JumpStart program continuing to encourage cashless payment adoption across a number of industries. In fact, JumpStart has been so successful, we recently expanded its availability to our standalone telemetry solution, including a feature which enables telemetry customers to quickly and easily upgrade their system to also accept cashless. At this very important time in the development of our market, we believe USA Technologies is well positioned to make the most of these tremendous growth opportunities and continue to create value for our shareholders.”
Stephen P. Herbert, President and Chief Operating Officer of USA Technologies, added, “We are in the midst of an impressive and continued increase in the rate of adoption of cashless payments solutions for vending and similar small-ticket retail markets, driven by both customer and consumer demand. We are working hard to capitalize on the confluence of events that is driving strong industry demand by continuing to improve our service, increasing our network capabilities, expanding our distribution system and offering an independent telemetry solution. We believe these activities, in addition to our already unique turn-key solution, enable us to not only maintain, but strengthen our position as the industry’s leading provider of cashless payments and M2M telemetry services to the small-ticket retail markets that we serve.”
Fourth Quarter Fiscal 2011 Results
For the fourth quarter of fiscal 2011, total revenue increased approximately 54% to $6.9 million, compared to $4.5 million in the fourth quarter of the prior year, while revenue from recurring license and transaction fees increased approximately 72% to $5.0 million compared to $2.9 million in the same quarter last year. Gross profit for the quarter was $2.4 million up approximately 60% from $1.5 million a quarter a year ago. Net loss for the quarter was $1.9 million (including approximately $1.8 million of non-cash charges), reduced from the net loss of $2.1 million (including approximately $0.5 million of non-cash charges) a year ago. The net loss in the fourth quarter of 2011 includes a $582,000 non-cash asset impairment charge. Adjusted EBITDA loss for the fourth quarter fiscal year 2011 improved to a loss of $0.4 million compared to $1.6 million for the fourth quarter of fiscal year 2010, an improvement of $1.2 million or approximately 75%. A reconciliation of net loss to Adjusted EBITDA loss is presented below.
In the fourth quarter of fiscal 2011, the ePort Connect Network processed 22.5 million transactions and $37.4 million in volume, increases of 92% and 80%, respectively, from the fourth quarter of fiscal 2010.
The momentum in new customer growth continued into the first few months of the Company’s fiscal 2012, with approximately 150 new ePort customers added during July and August, increasing total ePort customers to approximately 2,075 as of August 31, 2011. In addition, as previously disclosed, transactions and volume processed in the first two months exceeded comparable period year ago performance by 81% and 71%, respectively, a reflection of both additional connections and increased average connection usage.
Fully audited financial reports for the year ended June 30, 2011 were filed on form 10-K with the Securities and Exchange commission today. The 10-K, as well as all of the Company’s S.E.C. filings, can be viewed at

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