Thursday, 30 June 2011

Ogone Signs Landmark Agreement to Offer Checkout by Amazon

Ogone payment services have become the first European payment services provider to sign a product integration agreement with Amazon Payments to offer Checkout by Amazon. Checkout by Amazon was launched in March 2011 to enable Amazon customers to make a purchase on a website using the delivery addresses and payment information stored in their Amazon account. This allows consumers to shop securely on another retailer's website without re-entering their delivery and payment information. Shoppers can complete purchases quickly without leaving the site.

Marcus W. Mosen, CCO, Ogone said of the agreement: "Ogone is dedicated to making it easier for the consumer to pay online and for the retailer to be paid. Checkout by Amazon is a payment service designed to offer just this. It was therefore an obvious decision for us to partner with Amazon to offer this service to all existing and future Ogone customers. It will be a strong addition to the many payment methods that the Ogone platform already offers."

Checkout by Amazon was launched in the UK and Germany in March 2011 and will be available to Ogone customers in both of these countries. Integration of Checkout by Amazon will be completed for the next Ogone platform update release which will take place in September of this year.

HID Global Deploys Smart ID Cards to Saudi Arabia

HID Global announced the supply of LaserCard OSM (optical security media) technology to the Saudi Arabia government. The LaserCard OSM technology will be used to make National ID smart cards to be issued to Saudi citizens for identification, e-government, and regional travel purposes.

Uwe Ludwig, LaserCard's vice president of sales in EMEA said: "The Saudi Arabia program is a leading example of how a single card that integrates multiple technologies can deliver world-class protection and functionality. After six years, we are proud that the program continues to provide security and law enforcement authorities with a key asset in preventing counterfeiting and fraudulent use of vital documents".

More detailed information on the Saudi Arabia program can be found in the case study "LaserCard Saudi Arabia National ID Card".

Square Valued At $1 Billion

Square, the popular mobile payment start-up, has landed $100 million venture investment by a venture-capital giant led by Kleiner Perkins Caufield & Byers. The $100 million investment in Square increased its value by 4 times. The 8 month old start-up already faces stiff competition from Google Inc., Intuit Inc. and eBay Inc.'s PayPal in mobile phone payments business.

Twitter co-founder Jack Dorsey created Square. The payments system facilitates the exchange of funds using mobile devices. As a free one-inch credit card "reader", it can be plugged into a smartphone and lets an user accept both credit and debit-card payments on the spot. Square's app lets users set up an account very quickly, with no credit check. Funds are deposited into merchants' bank accounts, deducting a small fee of 2.75% per transaction.

Kleiner Perkins partner who will join Square's board soon commented: "We're making a bet that Square has the right product at the right time". According to Nick Holland, senior analyst at Yankee Group, "Mobile money is the next big thing". Yankee Group believes the total value of global mobile transactions will rise to $984 billion in 2014, up from $162 billion in 2010.

Siemens Selects Verizon for Global Identity Authentication

Siemens AG, the German industrial conglomerate, has chosen Verizon's OmniRoot certified solution to authenticate users of Siemens' communications systems so as increase the security of its internal and external communications and web application delivery.

Siemens' in-house PKI (Public Key Infrastructure) solution and user identity certificates are now fully authorized by Verizon's OmniRoot certificate chaining services. "It is increasingly difficult - but also increasingly important-- for global companies to enable and ensure secure communications," said Rainer Henkelmann, chief information security officer of Siemens AG. He added, "Verizon's globally trusted solution and expertise have enabled us to build a secure environment that supports our global business needs while simultaneously decreasing our costs".

FFIEC Releases Supplemental Guidance on Internet Banking Authentication

The Federal Financial Institutions Examination Council (FFIEC) has issued a supplement to the Authentication in an Internet Banking Environment guidance, issued in October 2005. The purpose of the supplement is to reinforce the risk-management framework and update the FFIEC member agencies' supervisory expectations regarding customer authentication, layered security, and other controls in the increasingly hostile online environment.

The continued growth of electronic banking and greater sophistication of the associated threats have increased risks for financial institutions and their customers. Customers and financial institutions have experienced substantial losses from online account takeovers. Effective security is essential for financial institutions to safeguard customer information, reduce fraud stemming from the theft of sensitive customer information, and promote the legal enforceability of financial institutions' electronic agreements and transactions.

The supplement stresses the need for performing risk assessments, implementing effective strategies for mitigating identified risks, and raising customer awareness of potential risks, but does not endorse any specific technology for doing so. The FFIEC member agencies will continue to work closely with financial institutions to promote security in electronic banking and have directed examiners to formally assess financial institutions under the enhanced expectations outlined in the supplement beginning in January 2012.

For more information go to:

Barclaycard Celebrates 45 Years in the UK

Yesterday, Barclaycard completed 45 years in the credit card business in the UK. The company launched the first UK credit card on 29th June, 1966. Barclaycard opened its first office in Northampton in an old shoe factory. Barclaycard had one million customers in its first year. Today, the figure is 11.2 million of a total of 31.2 million (UK Cards Association, 2010) credit cardholders in the UK.

Barclaycard was the first credit provider to go online in 1995 and since then, online account management has increased in popularity so much that last year 717 million card transactions were processed online, totalling GBP 47.2 billion (UK Cards Association, 2010). More recently, Barclaycard has introduced contactless cards, which it began issuing alongside Barclays retail bank in 2007.

It took 38 years from the first credit card (a Barclaycard) to launch in the UK for spending on plastic cards to overtake cash. Last year, 2 billion transactions were made to the tune of GBP 165-billion.

CreditCall Introduces CardEase Ultra Encryption Solution

CreditCall has launched CardEase Ultra, an End-to-End Encryption (E2EE) solution providing fraud protection from the point of card acceptance right through to settlement.

CreditCall's E2EE solution tries to simplify the PA-DSS compliance for terminal manufacturers. Merchants are able to take significant segments of their networks outside the scope of PCI DSS, reducing both infrastructure complexity and compliance costs.

CardEase Ultra also provides secure card tokenisation allowing future transactions or refunds without the card needing to be present. The E2EE solution can be used in a wide variety of card acceptance markets including retail PoS, and unattended terminals including parking, vending and kiosks.

MagTek's MagneSafe card readers provide end to end encryption of sensitive card data. Combined with CreditCall's CardEase Ultra, it offers merchants with an off the shelf end-to-end encrypted payment gateway and contributes to the reduction or even removal of the scope of PA DSS.

The company website defines MagTek as a leading manufacturer of electronic devices and systems for the reliable issuance, reading, transmission and security of cards, checks, PINs and other identification documents.

Clear2Pay Acquires Lexcel (US)

Clear2Pay announces it has acquired Lexcel Solutions, Inc., a US-based provider of payment test applications for core payment platforms and system capacity. This acquisition complements the company's current range of test solutions.

Michel Akkermans, Chairman and Chief Executive Officer of Clear2Pay states: "We feel that payments modernisation requires more than flexible technology alone. Testing across the full process chain from device manufacturer to processor and the end user is of vital importance to the delivery of secure payments. With the new combined test tool offering we can support the broadest possible range of devices and technologies and thus develop testing as a strategic line of business for the bank, card and mobile payment space alike".

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