Monday, 28 March 2011

Google, Mastercard and Citi Partner for Mobile Payments

Internet giant Google is teaming up with Mastercard and Citigroup to provide NFC mobile payments according to the Wall Street Journal.

"The Google-backed system, which is expected to be released this year, marks the latest effort to broaden the uses of smartphones for everyday activities-from chatting to emailing to shopping. The telecom, technology and financial-services industries all are looking for strategies to make them leaders in the evolving business of getting consumers to pay for products with their phones", writes Amir Efrati and Robin Sudel.

US Metro's New Fare Card System Rises by $2.4 Million

The cost of developing St. Louis Metro "smart" fare card system has increased by $2.4 million or nearly a third more than the original price. Indra USA Inc. was awarded the $7.5 million contact to develop the new fare system in January last year.

During tough questioning from the members of the agency's governing board, top engineer for St. Louis-based Metro played down the revised $9.9 million price tag for the automated fare collection.

The new system will allow Metro to modernise its fare-collection system and lower its costs. The new system also will help deal with fare evasion and fraudulent passes.

Senior VP for engineering and new systems development at Metro Chris Poehler said the price increases were largely expected and included additional ticket vending machines.

Oberthur Technologies Revenue Reached 978.8M euro in 2010

Today, Oberthur Technologies announced the publication of its financial results for 2010.

In 2010, Oberthur Technologies, revenue increased by 8.2% compared to 2009, reaching a record level of 978.8Million euro. The profitability of the Group improved, for the current operating income (+12.9% compared with 2009), the EBIT (+17.3% compared with 2009) and the net result (+21.3% compared with 2009).

The improvement of profitability levels in absolute values also manifests as a percentage of sales revenue. Thus, the EBIT margin accounts for 10.4% in 2010 compared with 9.6% in 2009 and the net result margin is at 6.1% in 2010 compared with 5.4% in 2009.

In 2010, Card Systems revenue reached 712.9, earning 72.8% in sales, with Security Printing getting 145.7 revenue and earning 14.9% in sales. Identity earcned revenue of 101.6, boosting 10.4% in sales.

The Security Printing division recorded a remarkable increase of 50% of its banknotes activity. In 2010, the overall revenue of this division progressed by more than one third in comparison with 2009. The Identity division also recorded a significant progression notably with the development of its systems offer. In 2010 the Cash Protection division returned to positive profitability and participated in the Group's solid performance.

The revenue of the Card Systems division also increased in 2010 compared to 2009, with a return to growth in the second half of the year.

Symantec Unveils VeriSign Identity Protection

Symantec Corp has introduced VeriSign Identity Protection (VIP) Access for Mobile credential for the iPad on the App Store. The VIP Access for Mobile app adds a one-time-password (OTP) credential to the iPad that can be used in conjunction with a username and password to strengthen the security of online accounts protected by the VIP Authentication Service. iPad users can now benefit from the added layer of security provided by VIP Access for Mobile for iPad.

The VIP Access for Mobile application transforms more than 700 different types of mobile devices into VIP credentials for strong authentication. Strong authentication works by requiring each user to provide not just a username and password but also a unique, one-time use six-digit security code generated by a user's VIP authentication credential. With the new credential, iPad users can enjoy strong authentication at more than 750 websites that are part of the VIP Network.

Aconite Announces Mobile Prepaid Solution

Aconite today announced, along with its partner Proxama, the launch of a Mobile Prepaid solution.

This new mobile proposition extends the capability of the solution Aconite recently implemented for the South African Transit project. Customers can use the new range of NFC mobile phones in the same way as contactless chip cards to transact with contactless acceptance devices, such as those being deployed in South Africa's public taxi-buses.

Aconite's Prepaid Value Manager (PVM) solution can be implemented alongside any existing payment infrastructure to handle the complex processing needed to support the 'on-card' value used in EMV based contactless products. These products can be issued on regular chip cards or on mobile phones and other token types ('smart devices').

For the South African transit solution Aconite PVM was integrated with Traderoot Africa's Universal Pre-paid Issuing Platform (UPIP) solution to provide an end-to-end system that facilitates offline payment authorisation without incurring any credit risk.

Aconite has now incorporated technology partner Proxama's powerful NFC wallet application to provide a combined software solution to support innovative smart payment products together with marketing services features such as coupons and loyalty applications.

Aconite is now integrating its smartcard lifecycle management system in the solution to manage the OTA (Over The Air) enablement and post-issuance download of applets to the secure elements in NFC-enabled mobile phones.

Patrick Regester, Aconite's SVP Sales & Marketing, said "This deployment builds on solutions implemented with our partners, Traderoot and Proxama, and demonstrates the next logical step in the use of contactless applications for ticketing and general retail payments now that NFC mobiles are becoming more readily available"

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