Thursday, 22 September 2011
ASIC Launches New ePayment Code
The Australian Securities & Investments Commission, ASIC today released the new ePayments Code which provides a best practice consumer protection regime for electronic payment products.
PayPal Australia welcomes the new ePayments Code and has agreed to sign up to the revised code by the end of the transition period which is 20 March 2013. ASIC expects it to be joined by banks, credit unions and building societies who are members of the existing version of the code. ASIC is also in discussion with a number of other providers of new payment services about subscribing to the new code.
The ePayments Code provides key consumer protections in cases of fraud and unauthorised transactions and plays an important role in the regulation of electronic payment facilities in Australia.
The release of the Code concludes an extensive review of the previous Electronic Funds Transfer Code of Conduct (EFT Code), involving widespread consultation between ASIC, industry and consumers. A major objective of the review was to ensure the Code covers all consumer electronic payment products, not just those from traditional banking organisations.
Frerk-Malte Feller, Managing Director of PayPal Australia, said: 'The rapid adoption of smartphones and other internet enabled devices used to access banking and payments solutions requires a dynamic code of practice to ensure adequate consumer protection. It is imperative that positive advancements in Australia's banking and financial infrastructure are not stifled; the ePayments Code will assist in managing this delicate balance.'
Visa Europe extends CodeSure family with Matrix Display card
Visa Europe launches the CodeSure Matrix Display card, the latest addition to its CodeSure card range. Built on the multi-channel authentication system offered by CodeSure, the Matrix Display card adds a fully customisable dot matrix display that supports local languages and non-Roman character sets. The card also has a smartphone-like 'soft touch' keypad and a highly visible power button that, combined with the new matrix display, helps banks customise the product to local language and usability preferences.
Designed to add security for consumers in Card Not Present (CNP) purchasing environments, the CodeSure range also incorporates contactless payments technology within a card that is the same size as traditional debit and credit cards.
The Visa CodeSure Matrix Display card was jointly developed by Visa Europe and its technology partners, Emue Technologies and NagraID Security. It uses Emue's Mutual Authentication technology, which securely identifies the consumer and bank to each other during a transaction, alongside the manufacturing expertise, display and user interface technologies developed by NagraID Security.
Amex buys Virtual Currency Platform for $30 Million
Sometric's provides in-game payments for free to-play games. The company has processed over 3.3 trillion individual units of currency through its payment processing platform since 2007. The platform supports 90 different payment options and services with an audience of 225 million gamers in 180 countries.
American Express has acquired the virtual currency platform and in-game payment provider Sometrics for a total value of $30 million. Sometrics is to become part of the Enterprise Growth group.
STMicroelectronics Launches New STM32 F4 Microcontroller
STMicroelectronics has announced the introduction of its new STM32 F4 series of microcontrollers. This extension to the STM32 platform is based on the latest ARM Cortex-M4 core, which adds signal-processing capabilities and faster operations to the portfolio of STM32 microcontrollers; the new series claims the title of highest-performance Cortex-M processor-based microcontroller range in the market.
The STM32 range is the industry's most successful family of 32-bit ARM Cortex-M processor-based microcontrollers, with nearly one of every two units shipped being a member of the STM32 family. The single-cycle DSP instructions of the STM32 F4 opens the door to the digital signal controller (DSC) market that requires high computational capability and DSP instructions for demanding applications such as high-end motor control, medical equipment and security.
Beyond offering pin-to-pin and software compatible with the high-performance F2 series, the F4 series operates at a higher frequency (168 MHz instead of 120 MHz), offers single-cycle DSP instruction support and a Floating Point Unit, larger SRAM (192 Kbytes vs. 128 Kbytes), embedded flash memory from 512 Kbytes up to 1 Mbyte, and advanced peripherals for imaging, connectivity and encryption. ST's 90nm CMOS process technology and the integrated ST Adaptive Real Time "ART Accelerator" deliver state-of-the-art performance, with zero-wait-state program execution up to 168 MHz, and best-in-class dynamic power.
Maxim's Secure RFID Keys Feature the 13.56MHz Interface Being Deployed for Access Control, e-Cash, and ID Cards Worldwide
Maxim Integrated Products introduce a new line of RFID keys and cards designed for the two-billion-units-per-year automatic identification, access control, and electronic cash (e-cash) markets. This new contactless RFID product family (the MAX66000/020/040/100/120/140) utilises in the company's popular 1-Wire secure authentication ICs, which protect intellectual property in embedded systems. With a 13.56MHz interface, these secure keys are ideally positioned to gain market share because 13.56MHz is becoming the worldwide standard for access control and e-payment applications. Some regions of the world have already begun deploying this RFID technology for passport and national ID cards.
As the critical data found inside many of these RF credentials becomes more and more valuable, efforts to crack, counterfeit and duplicate cards and credentials will increase. System integrators are already looking for increased security and authentication techniques to protect those assets.
The MAX66040 and MAX66140 employ the secure hash algorithm (SHA-1), a proven technology designed by the NSA for protecting a system's critical data without using expensive encryption techniques or an untested, proprietary protocol. SHA-1 is an ISO standard that is publicly available and has been thoroughly tested in the marketplace. It is designed to maintain the integrity of the stored data so that one can verify the authenticity of any credential.
ValidSoft and Adeptra Partner to Extend Global Fraud Detection
Adeptra, a leader in auto-resolution technologies that span the consumer lifecycle and ValidSoft, a global supplier of fraud prevention, authentication and transaction verification solutions across banking channels, have forged a commercial and technology partnership that will help retail banks to detect and prevent fraud worldwide.
The partnership provides financial organisations with best-in-class fraud detection and prevention functionality, as well as total control over their customer communications. It does this by combining the functionality of ValidSoft's fraud detection with Adeptra's product suite. ValidSoft delivers real-time proximity-based solutions, products to identify compromised SIM cards and mobile-based fraud detection capabilities. Adeptra's suite, including Decision Engine, combines and analyzes disparate consumer-related data sets to determine whether the consumer needs to be contacted, and in what way.
The relationship extends Adeptra's fraud detection footprint and enables the company to offer new fraud detection capabilities to its extensive user base, which includes many of the world's leading retail banks. These new capabilities include ATM location-based services, smartphone proximity services and ways to detect and prevent SIM swapping. In SIM swapping, the fraudster impersonates the chosen victim (so-called spear phishing) and contacts the victim's mobile network operator (MNO) to convince the MNO to port the victim's mobile phone number to a SIM owned by the fraudster.
Dual Frequency Card Reader
RF IDeas, Inc., a provider of desktop proximity and contactless smart card reader solutions, has announced the shipping availability of their anticipated pcProx Plus, a dual frequency programmable reader that combines 125 kHz and 13.56 MHz technologies into the same reader.
With RF IDeas' patented technology, pcProx Plus is the only reader in the industry that reads two cards of your choice among 35 technologies, delivering flexibility to any customer struggling with different card technologies. pcProx Plus can easily be configured for two cards, can be easily changed if necessary, and have an intuitive software wizard to help configure the reader. This makes the pcProx Plus an ideal reader for enrolment into third party software, multi-function printers, or single sign-on integrators. When used as a logon reader, the pcProx Plus is HIPPA compliant, meeting the strict regulations of the health care industry.
This cutting-edge reader has already sparked a high level of interest and demand from RF IDeas' partners. pcProx Plus allows customers to reduce inventory need by stocking only one reader instead of many. The pcProx Plus reader replaces technology specific readers, eliminating the possibility of ordering the wrong reader. For companies adding a new or different card type due to merger or acquisition, pcProx Plus minimizes the difficulty associated with the transition.
Facebook Virtual Currency Up
Research by eMarketer claims that Facebook, the social networking giant, is due to make $500 million from its virtual currency in 2011. This means that the revenue generated from Facebook Credits will have tripled in twelve months. Facebook Credits are used to purchase virtual items on game sites and Facebook takes a 30% fee from all transactions.
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