Tuesday, 20 September 2011

PCI SSC Publishes First Set of PCI Point-to-point Encryption Solution Requirements

The PCI Security Standards Council (PCI SSC) has announced the availability of the first set of validation requirements of its point-to-point encryption program. The PCI Point-to-Point Encryption Solution Requirements document provides requirements for vendors, assessors and merchants, that wish to build and implement hardware- based point-to-point encryption solutions that support PCI DSS compliance and offer scope reduction for merchants. Hardware-based P2PE solutions utilize secure cryptographic devices for both encryption and decryption including at the point of merchant acceptance for encryption and within Hardware Security Modules (HSMs) for decryption.

The PCI Security Standards Council recognises the potential for new technologies to reduce scope for PCI DSS assessments and provide new ways of securely handling cardholder data. This new document defines requirements for applicable point-to-point encryption (P2PE) solutions, with the goal of reducing the scope of the PCI DSS assessment for merchants using such solutions. The new requirements do not supersede the PCI Data Security Standard.

"This is a solid first step in recognising one popular type of deployment of P2PE solutions," said Bob Russo, general manager, PCI Security Standards Council. "These P2PE requirements will help vendors, assessors, and merchants that are choosing to use hardware-based versions technology, to build, assess and implement P2PE solutions securely.

ACI Worldwide Launches Prognosis

Prognosis for Money Transfer system brings together real-time reporting on performance, productivity, operational and transaction data combined with critical alerts for managing queue depths and monitoring cut-off times, line queues and critical process availability to deliver a comprehensive analytical view of systems status at any time.

Collis launches Mobile Test Centre

As mobile commerce is gaining momentum with concepts such as Trusted Service Manager (TSM) and Near Field Communication (NFC) technology , the need for compliance is rising. The Collis Mobile Test Centre offers the necessary testing services to every stakeholder in the NFC eco-system to comply with a standard to achieve the goal of widely accepted and interoperable NFC-TSM infrastructures.

The system only works if consumers have the compatible handsets (supporting NFC technology), Secure Elements (SEs), as well as acceptance infrastructure. More importantly, NFC-TSM infrastructure depends very much on the conformance of all the components to the existing standards; to achieve the goal of a widely accepted and interoperable NFC-TSM infrastructure.

"The keyword is trust. A TSM can only be thrust-worthy if the underlying infrastructure is. There are many stakeholders involved in an NFC-TSM eco-system implementation. Not all components are necessarily visible to all stakeholders, and no direct trust relation exists between all of them. In order to bridge the gaps, Collis Mobile Test Centre offers the necessary testing services to every stakeholder in the eco-system, with clear definition of domains and components involved. As an independent single point of contact we facilitate a so called one-stop-shop for testing of all mobile components and streamline the trust relation between stakeholders," says Dirk Jan van den Heuvel, CEO at Collis.

Collis Mobile Test Centre covers testing services according to the specifications set by standardization bodies such as MasterCard, VISA, GlobalPlatform, SIMalliance, ETSI/3GPP, GCF/PTCRB and NFC Forum and EMVCo,. In the coming time we expect to adopt our (white-labelled) offering to specific NFC-TSM initiatives around the globe (in collaboration with the parties behind). We will do this also in joint collaboration with AT4 Wireless from Spain. So, Collis can assist in constructing interoperable, reliable and secure NFC-TSM infrastructures.

Collis will be launching its mobile test centre during the NFC World Congress in Nice, France on the 19-21 September.

Report on Smart Cards in Russia

A new report published by Intelling entitled "Russia Smart Card Market 2012" claims that by 2016 Russia will be shipping 1.8 billion smart card solutions yearly. The report investigates the secure transactions industry in Russia and provides market forecasts for 2012 -2016. It says market development will be mainly supported by Government backed investments.

Mobile Wallet from Google

Google has officially launched its mobile payment wallet for customers who are in procession of a Citi MasterCard and an Android powered Nexus S phone from Sprint. Visa, American Express and Discover have also announced their support for the product.

Fundtech Accepts GTCR Offer

Fundtech Ltd. has announced that the previously announced merger agreement with S1 Corporation has been terminated and that Fundtech has accepted the previously announced binding offer to be acquired by GTCR for $23.33 per ordinary share, or approximately $390 million in the aggregate. This price per share represents a 32.9% premium to the closing price per ordinary share on September 14, 2011, the last trading day prior to the announcement of GTCR's offer.

As announced on September 15, 2011, the board of directors of Fundtech considered GTCR's binding offer, and following consultation with outside legal counsel and a financial advisor, determined that GTCR's binding offer constituted a "Company Superior Offer" under Fundtech's previously announced merger agreement with S1. Under the merger agreement with S1, Fundtech provided notice to S1 of its board's intention to change its recommendation and terminate the merger agreement with S1. S1 and Fundtech agreed to terminate the merger agreement with S1 prior to the expiration of the five business day period contemplated by the merger agreement with S1 upon payment of the $11.9 million termination fee. GTCR paid the termination fee due to S1 and the merger agreement with S1 was terminated.

Fundtech was founded in 1993 and provides software products and services to banks.

GTCR, a private equity firm founded in 1980 by Stanley Golder has invested more than $8.5 billion in over 200 companies.

App Allows Quick Search for Discounts

BlackBerry now have a powerful new way to find local businesses offering coupons and discounts, from a single app. The revamped YP app, now available on Blackberry App World introduces a new local search experience that allows users to quickly find and share local businesses, as well as browse, save and redeem coupons and discounts from nearby merchants.

Developed from the ground up by AT&T Interactive, a leader in local search, the app addresses a diverse mix of users, from business professionals to busy on-the-go consumers using a wide range of BlackBerry smartphones. Users can download the app for free by searching for "YP" in BlackBerry App World.

Wrapped into a completely new user interface, BlackBerry smartphone users can explore features of the app including:

  • Browse thousands of nearby coupons and discounts in the new "Deals" feature
  • Quickly search nearby for a business, by type or name, with automatic detection of the user's location
  • Choose from popular categories like restaurants, banks and gas stations
  • Save coupons, discounts and favourite businesses to "My Stuff" for easy access
  • Use the quick access menu, for fewer taps to call, see a map or get directions to a business
  • Share favourite businesses with friends via email

ACT Launches Malta Pass

Marketed as "a whole Country on one card", the Malta Pass uses ACT's Discovery technology platform to help visitors get the most out of their time in Malta and Gozo. With access to almost 50 visitor attractions, the hop on hop off sightseeing bus, boat trips and trackless trains, the Malta Pass represents great value to visitors.

Discovery by ACT uses multiple card platforms to give visitors access to attractions and local transport in many of the world's most popular cities. It delivers a complete tourism package including discounts on meals, entertainment, travel and all-in-one sightseeing.

Tourism plays a key role in many tourist destinations all over the world and Discovery has been designed to unlock all a destination has to offer, through a single convenient card.

Easily integrated with 3rd party sales channels, ACT's city card solution gives Malta Pass the tools to sell passes online, gather and interpret visitor data and trends, and sell and manage cards at convenient tourism centres.

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